Charity number: 1156449
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 15 |
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021
Trustees
Mr Paul Edward Woodstock Harris Mrs Nevena Harris Ms Margaret Ann West Mr Thomas Woodstock Harris Mrs Alison Mary Swinburn Mr Peter Woodstock Harris
Charity registered number 1156449 Principal office Sallow Copse Ringshall Berkhamsted Hertfordshire HP4 1LZ Accountants Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks MK9 1NA
Page 1
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2020 to 31 March 2021.
Objectives and activities
a. Policies and objectives
In addition to, and consistent with the principal object, the Trustees support projects to assist minors considered at risk from offending to provide them guidance, coaching and life skills to prevent them going to prison.
The Trustees also continue to support causes with which a number of the Trustees have a longstanding relationship.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
Following a full review of previous activities to participate directly in projects that provide mentoring, support and assistance for disadvantaged youths, the Trustees have decided that the Foundation should support existing charities that have a track record of endeavour and success in these areas. These options are currently being assessed.
During the year, the charity also made donations to an orphanage in South America and a local hospice.
Achievements and performance
a. Review of activities
The Trustees decided not to participate directly in projects to support youths at risk, but have been evaluating a number of options to support existing, well established charities active in this area.
b. Investment policy and performance
It is the object that donations be invested in worthy causes in a timely manner. Investment policy is therefore to preserve liquidity and minimize risk. Surplus funds were invested in savings accounts.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees aim to maintain sufficient reserves to cover known commitments.
Page 2
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Structure, governance and management
a. Constitution
The Woodstock Family Charitable Foundation is a registered charity, number 1156449, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision-making policies
The Trustees meet regularly throughout the year to discuss objectives and proposals. Decisions are made by a majority of Trustees.
Funds held as custodian
The charity will continue to support current projects and consider further projects in line with the objectives.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Approved by order ofthe MberS of the board ofTruslees and slgned on their b8half by: Mr Paul Edward Wood$to¢k Harrls Date.. l L TV IOIL Page 4
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021
Independent examiner's report to the Trustees of The Woodstock Family Charitable Foundation ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Page 5
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) 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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 accounts to be reached.
Signed: Dated: Grant Franklin ACA
Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes MK9 1NA
Page 6
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 90,500 256 90,756 73,000 73,000 17,756 82,507 17,756 100,263 |
Total funds 2021 £ 90,500 256 90,756 73,000 73,000 17,756 82,507 17,756 100,263 |
Total funds 2020 £ 128,600 109 128,709 173,000 173,000 (44,291) 126,798 (44,291) 82,507 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
Page 7
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION BALANCE SHEET AS AT 31 IAARCH 2021 2021 2020 Currnnt assets Debtors C83h at bank and in harm1 740 70.507 103.263 103263 85,507 Creditors: amounts falling due wilhin o year 10 (3.1)110) (3.LW) Net ¢urrent assets 100.263 82.507 Total n•t a¥¥•ts 11)0,263 82.50T Charity funds UnstrICted funds 11 100363 82.507 Total funds 100263 82,507 The finanoal were approNd and authSed fof issue by the Trustees and swJned on their behalf by.. Mr Paul Ed7ard Woodgtock Harr Date. l& T(¥•w* 7o%L The notes on pages 9 to 15 fimm part oflhese st8lement$. Page 8
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. General information
The Woodstock Family Charitable Foundation is a registered charity in England and Wales.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Woodstock Family Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 9
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
2.8 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Page 10
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
3. Income from donations and legacies
| Unrestricted funds 2021 £ Donations 90,500 Unrestricted funds 2020 £ Donations 128,600 4. Investment income Unrestricted funds 2021 £ Investment income 256 Unrestricted funds 2020 £ Investment income 109 |
Total funds 2021 £ 90,500 Total funds 2020 £ 128,600 Total funds 2021 £ 256 Total funds 2020 £ 109 |
|---|---|
Page 11
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
5. Analysis of grants
| Grants - St Francis Hospice Grants - St Andrews Mission Orphanage Grants - St Francis Hospice Grants - St Andrews Mission Orphanage |
Grants to Institutions 2021 £ 50,000 20,000 70,000 Grants to Institutions 2020 £ 150,000 20,000 170,000 |
Total funds 2021 £ 50,000 20,000 |
|---|---|---|
| 70,000 | ||
| Total funds 2020 £ 150,000 20,000 |
||
| 170,000 |
6. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 2021 £ Accountancy 3,000 Grants - St Francis Hospice 50,000 Grants - St Andrews Mission Orphanage 20,000 73,000 |
Total funds 2021 £ 3,000 50,000 20,000 |
|---|---|
| 73,000 |
Page 12
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
6. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Accountancy Grants - St Francis Hospice Grants - St Andrews Mission Orphanage |
Unrestricted funds 2020 £ 3,000 150,000 20,000 173,000 |
Total funds 2020 £ 3,000 150,000 20,000 |
|---|---|---|
| 173,000 |
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £3,000 ( 2020 - £3,000 ).
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL) .
9. Debtors
| Due within one year Other debtors Creditors: Amounts falling due within one year Accruals and deferred income |
2021 £ - 2021 £ 3,000 |
2020 £ 75,000 |
|---|---|---|
| 2020 £ 3,000 |
10. Creditors: Amounts falling due within one year
Page 13
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
11. Statement of funds
Statement of funds - current year
| Balance at 1 April 2020 £ Unrestricted funds General Funds - all funds 82,507 Statement of funds - prior year Balance at 1 April 2019 £ Unrestricted funds General Funds - all funds 126,798 |
Income £ 90,756 Income £ 128,709 |
Expenditure £ (73,000) Expenditure £ (173,000) |
Balance at 31 March 2021 £ 100,263 |
|---|---|---|---|
| Balance at 31 March 2020 £ 82,507 |
12. Analysis of net assets between funds Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Unrestricte d funds 2021 £ 103,263 (3,000) 100,263 |
Total funds 2021 £ 103,263 (3,000) |
|---|---|---|
| 100,263 |
Page 14
THE WOODSTOCK FAMILY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
12. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 85,507 (3,000) 82,507 |
Total funds 2020 £ 85,507 (3,000) 82,507 |
|---|---|---|
13. Related party transactions
Total amount of donations received without conditions from a Trustee, Peter Harris, during the year was £70,000 (2020 - £100,000).
During the year Trustee, Paul Harris, paid expenses on behalf of the Charity of £3,000 (2020: £3,000). The total of these amounts has been deemed a donation and no amount will be reimbursed or is outstanding at the year end.
Page 15