CHARITY REGISTRATION NUMBER: 1157036
The Chalcot Foundation Unaudited Financial Statements 5 April 2021
BURGESS HODGSON LLP
Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
The Chalcot Foundation
Financial Statements
Year ended 5 April 2021
| Page | |
|---|---|
| Trustees’ annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement offinancial activities | 4 |
| Statement offinancial position | 5 |
| Statement ofcash flows | 6 |
| Notestothefinancialstatements | 7 |
The Chalcot Foundation
Trustees’ Annual Report
Year ended 5 April 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2021.
Reference and administrative details
Registered charity name The Chalcot Foundation Charity registration number 1157036 Principal office 27 New Dover Road Canterbury Kent CT1 3DN The trustees Mr C S Mindenhall Mrs L Legassick Mr S M Sutton Independent examiner Burgess Hodgson LLP Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
Structure, governance and management
The Chalcot Foundation is a Charitable Incorporation Organisation. Our main governing document is out Constitution adopted on 21 March 2014.
We are led by our Board of Trustees. New trustees are appointed by the Board of Trustees.
In undertaking their work, the trustees will identify any potential risks to the public and beneficiaries, seek to minimise any risks that are identifies and ensure that these are no more than a minor consequence of carrying out the purpose of the charity.
Objectives and activities
The charity's objective and activity is to provide grants to individuals and organisations for the benefit of the public and other charities or voluntary bodies.
The trustees have devised a grant making policy and use this policy to make decisions about whom to benefit from the charity. The policy will be reviewed on a regular basis. The public benefit requirement will be considered when setting the policy and when using the policy to make grants.
The trustees confirm they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing The Chalcot Foundation's aims and objectives.
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The Chalcot Foundation
Trustees’ Annual Report (continueg)
Year ended 5 April 2021
Achievements and performance
The foundation is pleased to have been able to make two donations to two different charities during the year. As a result those charities have been able to further there respective causes and help reach the individuals that they target. The foundation looks to continue to make similar donations in the future.
Financial review
The total income for the period was £55,000 (2020: £12,270). Donations to the foundation totalled £55,000 (2020: £12,270) in the year, and gift aid of £nil (2020: £nil) was reclaimed on this amount.
There were two (2020: three) donations made by the foundation in the year which totalled £55,000 (2020: £14,287). In addition to this there were governance costs of Enil (2020: £nil).
The net assets at the end of the year were £25 (2020: £25). The trustees will distribute the balance on the unrestricted fund of £25 (2020: £25) in accordance with their grant making policy in the foreseeable future. The trustees’ annual report was approved on .......21/01/2022... and signed on behalf of the board of trustees by:
Ml Mr C S Mindenhall Trustee
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The Chalcot Foundation
Independent Examiner's Report to the Trustees of The Chalcot Foundation
Year ended 5 April 2021
| report on the financial statements for the year ended 5 April 2021, which comprise the statement of financial activities, statement of financial position, statement of cash flows and the related notes.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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e examine the accounts under section 145 of the 2011 Act;
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° to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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° to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view' and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements:
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° to keep accounting records in accordance with section 130 of the 2011 Act, and
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° to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr H Kemp
Kemps Accounting Solutions Limited 42A High Street Broadstairs Kent CT10 1JT
Date .. 223 Sears®. 27>
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The Chalcot Foundation
Statement of Financial Activities
Year ended 5 April 2021
| 2021 | 2021 | 2020 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Totalfunds | Total funds | ||
| Note | £ | £ | z | |
| Income and endowments | ||||
| Donations and legacies | 4 | 55,000 | 55,000 | 12,270 |
| Total income | 55,000 | 55,000 | 12,270 | |
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 55,000 | 55,000 | 14,287 |
| Total expenditure | 55,000 | 55,000 | 14,287 | |
| Netexpenditure and netmovement in funds | - | - | (2,017) | |
| Reconciliation offunds | ||||
| Total funds broughtforward | 25 | 25 | 2,042 | |
| Totalfundscarriedforward | 25 | 25 | 25 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages7 to 10 form part of these financial statements.
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The Chalcot Foundation
Statement of Financial Position
5 April 2021
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2021|2020|
|Note|£|£|
|Current|assets|
|Cash|at|bank|and|in|hand|25|25|
|Net|current|assets|25|25|
|Total|assets|less|current|liabilities|25|25|
|Funds|of the|charity|
|Unrestricted|funds|25|25|
|Total|charity funds|10|25|25|
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These financial statements were approved by the board of trustees and authorised for issue on ..41/01/2022...., and are signed on behalf of the board by:
MllA Mr C S Mindenhall Trustee
The notes on pages 7 to 10 form part of these financial statements.
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The Chalcot Foundation
Statement of Cash Flows
Year ended 5 April 2021
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|2021|2020|
|=|£|
|Cash|flows|from|operating|activities|
|Net|expenditure|~|(2,017)|
|Changes|in:|
|Trade|and|other|creditors|-|(270)|
|Cash|generated|from|operations|-|(2,287)|
|Net|cash|used|in|operating|activities|-|(2,287)|
|Net|decrease|in|cash|and|cash|equivalents|-|(2,287)|
|Cash|and|cash|equivalents|at|beginning|of year|25|2,312|
|Cash|and|cash|equivalents|at end|of year|25|25|
----- End of picture text -----
The notes on pages 7 to 10 form part of these financial statements.
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The Chalcot Foundation
Notes to the Financial Statements
Year ended 5 April 2021
- General information
The charity is a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the principal office is 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
- Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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The Chalcot Foundation
Notes to the Financial Statements (continueq
Year ended 5 April 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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e income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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e legacy income is recognised when receipt is probable and entitlement is established.
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e income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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e income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis asa liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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e expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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e expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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The Chalcot Foundation
Notes to the Financial Statements (continueg)
Year ended 5 April 2021
3. Accounting policies (continued)
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| 5 | £ | £ | £ | ||
| Donations | |||||
| Donations | 55,000 | 55,000 | 12,270 | 12,270 | |
| 5. | Expenditure on charitable activities byfund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| E | £ | £ | £ | ||
| Charitable donations | 55,000 | 55,000 | 14,287 | 14,287 | |
| 6. | Expenditure on charitable activities by activity type | ||||
| Grant funding | Totalfunds | Total fund | |||
| ofactivities | 2021 | 2020 | |||
| £ | & | & | |||
| Charitable donations | 55,000 | 55,000 | 14,287 | ||
| 7. | Analysis ofgrants | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Grants to institutions | |||||
| Support | 55,000 | 14,287 | |||
| Totalgrants | 55,000 | 14,287 |
- Staff costs
The average number of persons employed by the charity during the year ended 5 April 2021, including the directors, amounted to nil (2020 - nil).
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The Chalcot Foundation
Notes to the Financial Statements (continueg)
Year ended 5 April 2021
9. Trustee remuneration and expenses
There were no trustees' remuneration or other benefits for the year ended 5 April 2021 (2020 - no remuneration).
None of the trustees received any expenses during the year ended 5 April 2021 (2020 - no expenses).
10. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 6 April 2020 | Income | Expenditure | 5 April | 2021 | ||
| £ | £ | £ | £ | |||
| General funds | 25 | 55,000 | (55,000) | 25 | ||
| At | At | |||||
| 6 April 2019 | Income | Expenditure | 5 April | 2020 | ||
| £ | £ | e | £ | |||
| General funds | 2,042 | 12,270 | (14,287) | 25 | ||
| 11. | Analysis ofnet assets betweenfunds | |||||
| Unrestricted | Total Funds | |||||
| Funds | 2021 | |||||
| E | £ | |||||
| Current assets | 25 | 25 | ||||
| Unrestricted | Total Funds | |||||
| Funds | 2020 | |||||
| £ | £: | |||||
| Current assets | 25 | 25 | ||||
| Creditors less than 1 year | - | _ | ||||
| Net assets | 25 | 25 | ||||
| 12. | Analysis ofchanges in net debt | |||||
| At | ||||||
| At6 Apr2020 | Cash flows | 5Apr2021 | ||||
| £ | £ | £ | ||||
| Cashatbankandinhand | 25 | - | 25 |
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