Charity registration number 1155744
THE SANDERSON FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE SANDERSON FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr T. Sanderson Mrs D. Sanderson Mr J. Azis Charity number 1155744 Registered office Westwood Manor Bradford-on-Avon Wiltshire BA15 2AF Independent examiner Susan Drummond 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 2024
The Trustees present their annual report and financial statements for the year ended 31 March 2024.
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:
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(1) For the public benefit to promote education in such ways as the Charity's Trustees think fit;
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(2) The support and promotion of any charitable purpose that is for the public benefit.
The Trustees met regularly throughout the period both by email and in person. In pursuit of the objects, during the period under review, the Trustees considered in excess of 40 applications, both solicited and unsolicited. A total of 16 grants (2023: 22) were made which were in aggregate £435,000(2023: £570,000).
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 Trustees' 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.
It was noted that an application for Gift Aid refund has been made in June 2024 and that a reply was awaited. In the year ended 31 March 2024 Gift Aid of £NIL (2023 £50,000) 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 is 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' report was approved by the Board of Trustees.
Tim Sanderson .............................. Mr T. Sanderson Chairman of Trustees Dated: ......................... 10-Dec-2024
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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 2024.
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 FCCA, 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:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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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.
Susan Drummond
Susan Drummond Rouse Partners LLP 55 Station Road Beaconsfield Buckinghamshire HP9 1QL
18-Dec-2024
Dated: .........................
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THE SANDERSON FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations | 2 | 400,000 | 550,000 |
| Other income | 3 | 977 | 869 |
| Total income | 400,977 | 550,869 | |
| Expenditure on: | |||
| Grants funding of activities | |||
| Grants made to charities | 4 | 435,366 | 570,360 |
| Independent examination fees | 4 | 5,160 | 3,540 |
| Total charitable expenditure | 440,526 | 573,900 | |
| Net expenditure for the year/ | |||
| Net movement in funds | (39,549) | (23,031) | |
| Fund balances at 1 April 2023 | 99,362 | 122,393 | |
| Fund balances at 31 March 2024 | 59,813 | 99,362 |
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE SANDERSON FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2024
| 2024 Notes £ Current assets Cash at bank and in hand 64,193 Creditors: amounts falling due within one year 7 (4,380) Net current assets The funds of the Charity Unrestricted funds The financial statements were approved by the Trustees on ......................... 10-Dec-2024 |
£ 59,813 59,813 59,813 |
2023 £ 112,962 (13,600) |
£ 99,362 |
|---|---|---|---|
| 99,362 | |||
| 99,362 | |||
Tim Sanderson
.............................. Mr T. Sanderson Chairman of Trustees
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THE SANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 amounts 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.
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THE SANDERSON FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
| 2024 Notes £ Cash flows from operating activities Cash absorbed by operations 9 Net cash used in investing activities Net cash used in financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2023 £ £ (48,769) - - (48,769) 112,962 64,193 |
£ (43,091) - - (43,091) 156,053 112,962 |
|---|---|---|
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THE SANDERSON FOUNDATION
STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
2 Donations
| Donations and gifts Gift aid recovered Other income Other income Grants funding of activities Grants made to charities Charitable expenditure 3 2024 2024 £ £ Bank charges 366 - Grant funding of activities (see note ) 435,000 - Share of governance costs) - 5,160 435,366 5,160 |
Unrestricted Unrestricted funds funds 2024 2023 £ £ 400,000 500,000 - 50,000 Unrestricted Unrestricted funds funds 2024 2023 £ £ 977 869 Total 2024 Grants made to charities Charitable expenditure 3 Total 2023 2023 2023 £ £ £ £ 366 360 - 360 435,000 570,000 - 570,000 5,160 - 3,540 3,540 440,526 570,360 3,540 573,900 |
Unrestricted Unrestricted funds funds 2024 2023 £ £ 400,000 500,000 - 50,000 Unrestricted Unrestricted funds funds 2024 2023 £ £ 977 869 Total 2024 Grants made to charities Charitable expenditure 3 Total 2023 2023 2023 £ £ £ £ 366 360 - 360 435,000 570,000 - 570,000 5,160 - 3,540 3,540 440,526 570,360 3,540 573,900 |
|---|---|---|
| Total 2023 £ 360 570,000 3,540 |
||
| 573,900 |
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.
6 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
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THE SANDERSON FOUNDATION
STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 6 | Employees | (Continued) | |
|---|---|---|---|
| There were no employees whose annual remuneration was more than £60,000. | |||
| Remuneration of key management personnel | |||
| 7 | Creditors: amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruals and deferred income | 4,380 | 13,600 | |
| 8 | Related party transactions | ||
| During the year the charity received income of £400,000 (2023: £500,000) in the form of donations from a | |||
| trustee of the charity. | |||
| 9 | Cash generated from operations | 2024 | 2023 |
| £ | £ | ||
| Deficit for the year | (39,549) | (23,031) | |
| Movements in working capital: | |||
| (Decrease) in creditors | (9,220) | (20,060) | |
| Cash absorbed by operations | (48,769) | (43,091) |
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THE SANDERSON FOUNDATION
STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
10 Grants made to charities
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Chalke ValleyHistoryFestival | 35,000 | 45,000 |
| Dulwich Picture Gallery | 10,000 | |
| Elephant Family | ||
| Erasmus Forum | 30,000 | 25,000 |
| Eton College Collections | 10,000 | 8,000 |
| Exeter Cathedral | ||
| Holburne Museum | 200,000 | 20,000 |
| London Library | 10,000 | |
| PCC of Postlebury | 10,000 | 18,000 |
| Remembrance Trust | 18,000 | |
| Royal Collection Trust | 300,000 | |
| Royal Museums Greenwich | 15,000 | 18,000 |
| Soil Association | 15,000 | (10,000) |
| Somerset Wildlife Trust | 10,000 | |
| The Georgian Group | 10,000 | |
| The Sixteen | 10,000 | 13,000 |
| Universityof Oxford | 50,000 | 90,000 |
| Venice In Peril Fund | 10,000 | |
| Watts Gallery | 20,000 | 5,000 |
| Wells,The Palace Trust | 10,000 | |
| TOTAL | 435,000 | 570,000 |
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