## **THE SEAVER FOUNDATION** **Report and Financial Statements** **For the year ended 31 January 2021** **Charity number: 1157104** ## **THE SEAVER FOUNDATION** |**REPORT AND FINANCIAL STATEMENTS**|| |---|---| |**FOR THE YEAR ENDED 31 JANUARY 2021**|| |**CONTENTS**|**Page**| |**LEGAL AND ADMINISTRATIVE INFORMATION**|**3**| |**DIRECTORS’ AND TRUSTEES REPORT**|**4**| |**NOTES TO THE ACCOUNTS**|**9**| _2_ ## **THE SEAVER FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **TRUSTEES** Dr D. Marshall (Chairman) Mrs C. Gunnell Ms R. Brown ## **SECRETARY** Mrs C. Gunnell ## **REGISTERED OFFICE** 54 Sun Street Waltham Abbey EN9 1EJ ## **BANKERS** HSBC 191 High Road Loughton Essex IG10 4LN _3_ ## **THE SEAVER FOUNDATION TRUSTEES REPORT** ## **FOR THE YEAR ENDED 31 JANUARY 2021** The Trustees of The Seaver Foundation (“Foundation”) as defined by section 97 of the Charities Act 1993, present their report and financial statements for the year ended 31 January 2021. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Foundation is a charitable incorporated organisation (“CIO”) and is governed by its constitution. It was established on 19 May 2014 when it achieved charitable status. The Trustees as listed on page 3, serve as trustees of the charity, and are its current members. Trustees are appointed by a resolution passed at a properly convened meeting of the charity Trustees. Trustees serve for a term of 3 years; after which they may retire or be re-appointed. In selecting a trustee, the Trustees try to ensure that taken together the Trustees have a broad range of specialist skills and experiences that can be used for the benefit of the charity’s objectives. Decisions and policies are formulated in quarterly Trustees meetings held throughout the period. The present membership of the Trustees is set out on page 3; the following Trustees served throughout the period and subsequent to it: - B. Byrne – resigned 10 February 2016 - C. Gunnell – reappointed 19 May 2020 - S. Gant – resigned 31 January 2017 - R. Brown – reappointed 1 February 2020 - D. Marshall – reappointed 10 February 2019 During the reporting period the charity employed the following person as a manager on a part-time basis. During the months Feb 2020 to Jan 2021 the Manager was paid 520.00 GBP (10 hours p/wk @ 12.00 GBP p/hr). Sick leave was granted with medical certificates provided during Dec 2020 - Jan 2021. ## E. Seaver – appointed on 1 February 2016 The charity holds policy and procedure accessible and agreed to by all those working alongside them in the following areas. 2 new policies were added in this reporting year for Covid-19 and environmental impact. 5 policies were reviewed and circulated to all staff, members and partner organisations. Policies relating to children were also made available in child-friendly format: - The Seaver Fdtn Policy for Covid-19 (Added 2020) - The Seaver Fdtn GDPR policy (Reviewed 2021) - The Seaver Fdtn Policy criteria for working with beneficiaries - The Seaver Fdtn Expense policy (Reviewed 2020) - The Seaver Fdtn Procedure for Advisory Committee Member (Reviewed 2020) - The Seaver Fdtn Parental Leave Policy - The Seaver Fdtn Refund & Change to Travel Policy - The Seaver Fdtn Code of Conduct for Volunteers - The seaver fdtn disciplinary procedure - The Seaver Fdtn Health and Safety Policy - The Seaver Fdtn Induction Policy - The Seaver Fdtn Proper Use of Electronic Resource Policy - The Seaver Fdtn - The Seaver Fdtn Recruitment Policy - The Seaver Fdtn Risk Assessment Policy - The Seaver Fdtn Safeguarding Policy (Reviewed 2020) - The Seaver Fdtn Sickeness and Absence Policy - The Seaver Fdtn. Grievance Poilcy - The Seaver Fdtn. Lone Working Policy - The Seaver Fdtn. Personnel Development Policy - The Seaver Fdtn Voice and tone guidance note (Reviewed 2020) - The Seaver Foundation Emergency Repsonse Policy - The Seaver Fdtn Procedure for Working with Children in Residential Care - The Seaver Fdtn statement on sustainability and environmental impact (Added 2020) ## **THE SEAVER FOUNDATION** ## **OBJECTIVES AND ACTIVITIES** Our charity’s purposes as set out in the objects contained in the CIO’s constitution are: - 1) 1. The prevention or relief of poverty, in particular but not exclusively of persons under the age of 20 years anywhere in the world as the Trustees may from time to time determine. To meet the objective, the main activity is to communicate with staff, beneficiaries and trustees of the organisations we are seeking to work with to identify the long, and short term, needs of these organisations and meet these by: - 1a. - Issuing grants to the charitable organisations identified to enable them to meet basic needs or improve the conditions of life of their beneficiaries; that they would otherwise be unable to meet; - 1b. - Recruiting people to meet these needs and/or educate community members in meeting these needs by providing a voluntary service. ## **ACHIEVEMENTS AND PERFORMANCE** Since February 2020 the charity has: - Continued to fund and progress work with a academic research project in collaboration with Centre for International Development, - Northumbria, to understand and respond to the experiences of children living in social and economically deprived circumstances, such as refuges and ‘orphanages’ with the aim of improving lives of such children. Formed connections with the Humanitarian and Development Research Institute of Western Sydney University to discuss and integrate learning. Adapted research according to the travel and social restrictions imposed due to Covid-19. Interviewed 13 organisations serving children living in such circumstances in order to understand the impact of Covid-19 on the lives of such children. (to the approximate value of 1248.00 GBP) - Collaborated with the Children Shelter of Hope Foundation to maintain a scholarship programme for children requesting support and - showing aptitude, passion and drive to achieve, but without the necessary funds to do so due to growing up in economic deprivation in Mexico. To date this includes two children being able to attend higher education, and one to pursue professional sports career (to the approximate value of 911.72). - Empowered 92children living in social and economically deprived areas in Magisterio, Puerto Vallarta, Mexico, to use their voices - and describe their needs using a full child centered evaluation . Following their requests for educational, nutritional and wellbeing support resources, funded staff and resources for an extra curricular centre ‘La Escuelita’ running 5 days per week throughout the year. During Covid-19 the centre provided emergency aid to families economically effected and struggling to meet basic health and nutritional needs (to the approximate value of 12688.94 GBP). - Collaborated with the National Literacy Trust to work on an ongoing project (Dream Big: Words for Work) for over 1500 children - living in areas of the UK often experiencing social exclusion. Our work aims to ensure that during evaluations children are equipped with the right resources to have their voices heard on the impact of programmes designed to improve their ambition and skills to achieve in the workplace. During Covid-19 this work was redesigned to accommodate for the loss of face-to-face communication with children due to school closures and social restrictions. Child Centered Evaluation materials were redesigned for an online platform (to the approximate value of 4169.74 GBP) - Following a gap in research and acknowledgment of young children’s voices during the pandemic, a new programme was undertaken - aiming to empower the voices of children aged 2-7 years old in the UK, who found themselves socially excluded due to lockdown measures imposed during Covid-19. Resource packs were distributed to the parents of 50 children encouraging them to express their experiences. These were then used to try and enhance adult understanding and appropriate responses to young children during this time via social media posts, press releases and the initiation of a book for distribution to children around the UK. (to the approximate value of 1893.09 GBP) ## **STATEMENT ON THE IMPACT OF COVID-19** During the months Feb 2020 - Jan 2021, the charity was significantly impacted by the Covid-19 pandemic and it’s social implications. Previous major donors to the charity included a children’s football academy and running events company, both of whom were unable to contribute as previously intended during this financial year. Major fundraising events planned including a charity dinner and live music event were both cancelled. Programmes were severely impacted including a need for major review of methods used to communicate with children both in National Literacy Trust collaborative project and academic research for children living in social exclusion. Additional programmes were added to the charities work including emergency support packages to children whose families were economically impacted, and a programme listening to the voices of children aged 2-7 years old, socially excluded due to lockdown in the UK. This delayed projects significantly and they incurred additional expenses. The financial impacts of these changes deemed it necessary for the charity to furlough the Manager from April 2020 - Jan 2021. Furlough payments were received from HMRC to the value of 3450.24 GBP. ## **FINANCIAL REVIEW AND RESERVES POLICY** The CIO was established on 19 May 2014, and has made satisfactory progress attracting funds in support of the furtherance of its objectives. During this phase, the charity’s policy is to ensure that its assets and reserves are safeguarded in a risk free manner. This includes a minimum of two checks on payments made out; quarterly reporting of finances; forecasting; programme budget reviews and the creation of policies to monitor fundraising and decisions made on use of funds. During these checks error payments were noted from 24th April 2020 to the 23rd July 2020 to the value of 269.58 GBP. These were identified and refunds were paid on payments which could be proven in error to the value of 109.29 GBP in April 2020 and 160.29 GBP in Nov 2021. The charity aims to earn a small return, without exposing the charity to financial risk. It is the charity’s policy to maintain a balance on unrestricted funds (if possible), which equates to at least three months unrestricted payments. This has been calculated as a minimum of 1710.00 GBP (comprising of permanent staff salaries and essential governance costs) to be held in unrestricted funds. This was achieved in all but February March 2020 of the 12 months of this financial year. ## **THE SEAVER FOUNDATION** During the course of the year ended 31 January 2021, the Foundation made steady progress in establishing itself, obtaining funding of £29948.36 (excluding furlough payments of 3450.24 GBP). This included This was sufficient to grow the grants and services offered to beneficiaries, in a more efficient manner than previous years, in order to further the charities objectives. ## **TRUSTEES RESPONSIBILITIES** Charity law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the CIO as at the end of the financial period and of its incoming resources and application of resources, including the income and expenditure, for the financial period. In preparing those financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the CIO will continue in business. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the CIO and to enable them to ensure that the financial statements comply with the Charities Commission. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on November 2021 and signed on behalf of them Mr D Marshall Chair of the Trustees _6_ ## **THE SEAVER FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR END 31st JANUARY 2021** There have been no recognised gains or losses or movements in funds other than those included in the Statement of Financial activities above. All transactions in the current financial period are attributable to continuing activities. _7_ ## **THE SEAVER FOUNDATION** ## **BALANCE SHEET AS OF 31ST JANUARY 2021** **£ £ £ £ Total Funds** There were no endowment funds. The Trustees confirm that they are responsible for: - Ensuring that the CIO keeps accounting records which comply with the SORP 2005 And - Preparing financial statements which give a true and fair view of the state of affairs of the CIO as at the end of the financial year and of its Statement of Financial Activities for that period in accordance with the requirements of the Charity Commission. These financial statements were approved by the Trustees on November 2021 and signed on its behalf. Mr D Marshall Chair of the Trustees **THE SEAVER FOUNDATION NOTES TO THE ACCOUNTS** **1.** ## **FOR THE YEAR ENDED 31 JANUARY 2021** ## **ACCOUNTING POLICIES** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, and in accordance with: Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005); Financial Reporting Standards for Smaller Enterprises (FRSSE) and with the Charities Act. ## **Incoming resources** Recognition of incoming resources - these are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - the trustees are virtually certain they will receive the resources; and - the monetary value can be measured with sufficient reliability. Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA. Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate. ## **Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates. Costs of generating income comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for the beneficiaries and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity, and include any costs associated with the examination of the accounts, trustee meetings and any legal advice given to the trustees on governance or constitutional matters. ## **Fund accounting** The charity operates two types of fund Unrestricted and Restricted - Unrestricted funds are broken down between designated funds and general funds. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. General funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. - Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. _9_ ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **Report to the trustees/ members of** **On accounts for the year ended** **Set out on pages** Charity Name The Seaver Foundation **Charity no** 31 Jan 2021 **(if any)** 1157104 1 - 9 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **DD / MM / YYYY** . **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** [The charity’s gross income exceeded £250,000 and I am qualified to **examiner's statement** undertake the examination by being a qualified member of [insert name of applicable listed body]]. _Delete_ [ ] _if not applicable._ I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - • the accounts did 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. - _Please delete the words in the brackets if they do not apply._ **Date:** 30 Nov 2021 **Signed:** Ben Green **Name:** **Relevant professional qualification(s) or body (if any):** CIMA **Address:** Flat 6, The Drive, Wimbledon, SW20 8TG ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** .