**Charity registration number 1155744** ## **THE SANDERSON FOUNDATION** ## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2022** ## **THE SANDERSON FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mr T. Sanderson Mrs D. Sanderson Mr J. Azis **Charity number Registered office** 1155744 Westwood Manor Bradford-on-Avon Wiltshire BA15 2AF **Independent examiner** Majid Sadeghi Rouse Partners LLP Beaconsfield Buckinghamshire HP9 1QL ## **THE SANDERSON FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1| |Independent examiner's report|2| |Statement of financial activities|3| |Balance sheet|4| |Statement of cash flows|6| |Notes to the accounts|5 - 9| ## **THE SANDERSON FOUNDATION** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ The Trustees present their annual report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ). ## **Objectives and activities** The Charity's objects are : (1) For the public benefit to promote education in such ways as the C harity 's T rustees think fit; (2) The support and promotion of any charitable purpose that is for the public benefit. The T rustees met regularly throughout the period both by email and in person. In pursuit of the objects, during the period under review, the T rustees considered in excess of 40 applications, both solicited and unsolicited. A total of 25 grants (20 2 1: 31) were made which were in aggregate £529 , 5 00 (20 2 1: £351 ,000 ) and a further £30,000 approved for payment. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. ## **Achievements and performance** ## **Financial review** The T rustees' policy is to hold sufficient reserves to cover at least one year's committed expenditure. At the end of the period under review, the Charity had neither committed expenditure nor administrative expenses. Gift Aid recoverable is accounted for in the period in which it is received by the Trustees. In the year ended 31 March 202 2 Gift Aid of £ 65, 000 (202 1 £ 703,274 ) was recovered by the Trustees. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The Charity i s a Charitable Incorporated Organisation subject to a deed dated January 31, 2014. The Charity is registered with the Charity Commission, No 1155744. The Trustees who served during the year were: Mr T. Sanderson Mrs D. Sanderson Mr J. Azis The Trustees' r eport was approved by the Board of Trustees. .............................. Mr T. Sanderson **Chairman of** ## **Trustees** Dated: 21st September 2022 - 1 - ## **THE SANDERSON FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SANDERSON FOUNDATION** I report to the Trustees on my examination of the financial statements of The Sanderson Foundation (the Charity) for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Majid Sadeghi Rouse Partners LLP 55 Station Road Beaconsfield Buckinghamshire HP9 1QL Dated: 23rd September 2022 - 2 - ## **THE SANDERSON FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2022**|2021| ||**Notes**|
**£**|**£**| |**Income and endowments from:**|||| |Donations|**2**|265,000|703,274| |Other income|**3**|331|-| |**Total income**||265,331|703,274| |**Expenditure on:**|||| |Grants funding of activities|||| |Grants made to charities|**4**|559,860|351,000| |Independent examination fees|**4**|3,660|3,610| |**Total charitable expenditure**||563,520|354,610| |**Net (expenditure)/income for the year/**|||| |**Net movement in funds**||(298,189)|
348,664| |Fund balances at 1 April 2021||420,582|71,918| |**Fund balances at 31 March 2022**||122,393|420,582| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 3 - ## **THE SANDERSON FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2022**_ |**Notes**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**7**
Net current assets
**Income funds**
Unrestricted funds|**2022**
**£**
156,053
(33,660)|**£**
122,393
122,393
122,393|**2021**
**£**
424,242
(3,660)|**£**
420,582
420,582
420,582| |---|---|---|---|---| The financial statements were approved by the Trustees on 21st September 2022 **----- Start of picture text -----**
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.............................. Mr T. Sanderson **Trustee** - 4 - **THE SANDERSON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **Charity information** The Sanderson Foundation is a Charitable Incorporated Organisation, subject to a deed dated 31 January 2014. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's deed , the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling , which is the functional currency of the Charity . Monetary a mounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. ## **1.4 Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amounts can be measured reliably. Gift aid is recognised as income in the period in which it is received by Trustees from the relevant tax authority. ## **1.5 Expenditure** Grants payable are made to third parties in furtherance of the Charity's objects. Grants are accounted for when the Trustees have agreed to pay the grant and the recipient has a reasonable expectation of receipt. - 5 - ## **THE SANDERSON FOUNDATION** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**2022**
**2021**
**Notes**
**£**
**£**
**£**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**9**
(268,189)
**Net cash used in investing activities**
-
**Net cash used in financing activities**
-
**Net (decrease)/increase in cash and cash**
**equivalents**
(268,189)
Cash and cash equivalents at beginning of year
424,242
**Cash and cash equivalents at end of year**
156,053|**£**
344,264
-
-
344,264
79,978
424,242| |---|---| - 6 - ## **THE SANDERSON FOUNDATION** ## **STATEMENT OF CASH FLOWS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **2 Donations** |Donations and gifts
Gift aid recovered
**Other income**
Other income
**Grants funding of activities**
**Grants**
**made to**
**charities**
**Charitable**
**Expenditure**
**Heading 3**
**2022**
**2022**
**£**
**£**
Charitable expenditure
heading 1
360
-
Grant funding of activities
(see note )
559,500
-
Share of governance
costs)
-
3,660
559,860
3,660|**Unrestricted**Unrestricted
**funds**
funds
**2022**
2021
**£**
£
200,000
-
65,000
703,274
**Unrestricted**
Total
**funds**
**2022**
2021
**£**
£
331
-
**Total**
**2022**
**Grants**
**made to**
**charities**
**Charitable**
**Expenditure**
**Heading 3**
**Total**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
360
-
-
-
559,500
351,000
-
351,000
3,660
-
3,610
3,610
563,520
351,000
3,610
354,610| |---|---| ## **3 Other income** ## **4 Grants funding of activities** ## **5 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. - 7 - ## **THE SANDERSON FOUNDATION** ## **STATEMENT OF CASH FLOWS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **6 Employees** The average monthly number of employees during the year was: ||The average monthly number of employees during the year was:||| |---|---|---|---| |||**2022**|**2021**| |||**Number**|**Number**| ||Total|-|-| ||There were no employees whose annual remuneration was more than £60,000.||| |**7**|**Creditors: amounts falling due within one year**||| |||**2022**|**2021**| |||**£**|**£**| ||Accruals and deferred income|33,660|3,660| |**8**|**Related party transactions**||| ||During the year the charity received income of £200,000 (20 2 1: Nil) in the form of donations from a trustee||| ||of the charity.||| |**9**|**Cash generated from operations**|**2022**|**2021**| |||**£**|**£**| ||(Deficit)/surpus for the year|(298,189)|348,664| ||Movements in working capital:||| ||Increase/(decrease) in creditors|30,000|(4,400)| ||**Cash (absorbed by)/generated from operations**|(268,189)|344,264| - 8 - ## **THE SANDERSON FOUNDATION** ## **STATEMENT OF CASH FLOWS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **10 Grants made to charities** ||**2022**|**20 2 1**| |---|---|---| ||**£**|**£**| |Alzheimer's Research UK|-|-| |Balsam Centre|-|7,000| |C halke Valley History Festival|50,000|25 ,000| |Dorothy House Hospice|10,000|
-| |Elephant Family|5,000|
-| |Erasmus Forum|4 5 ,000|40 ,000| |Eton College Collections|1 0 ,000|1 0 ,000| |Exeter Cathedral|5,000|-| |Fulham Palace Trust|-|20,000| |International Cat Care|-|5,000| |Leading The Way|-|1,000| |London Air Ambulance Charity|-|5,000| |Marston Church|10,000|10,000| |National Opera Studio|-|5,000| |Opportunity International|1, 5 00|10,000| |Remembrance Trus t|20,000|1 5,000| |Royal Collection Trust
|200,000|-| |Royal Museums Greenwich|10 ,000|5 ,000| |Soil Association|20 ,000|15,000| |Somerset Wildlife Trust|-|10,000| |Southwark Cathedral Development Trust|10,000|10,000| |The Cure Parkinson's Trust|-|10,000| |The Gardens Trust|10,000|-| |The Georgian Group|10,000|10,000| |The Institute of International Monetary Research|-|10,000| |The London Library|-|10 ,000| |The Sixteen|5,000|10 ,000| |University of Oxford|10 0,000|80 ,000| |Venice In Peril Fund|23,000|-| |Watts Gallery|-|5,000| |Wells Cathedral|-|10 ,000| |Wells, The Palace Trust|1 5 ,000|10,000| |Westminster City Council|-|3,000| |**TOTAL**|**559,5 00**|**3 51,000**| - 9 -