REGISTERED CHARITY NUMBER: 11611188 Reprt Of the Trustees Ad Unudited FiwKial lleMents for ¢le Yur Enrted 5 Apru 2024 Wrht FnIY FowidattoD Clive Owen LLP Charter¢d Ac¢ountants & sta1 A111($ 140 Cotsixliffe Ro1 DarlinWOII County Durham DL3 7RT
Wrht F•ThMy FoMndatlDn Contents Of the FlnanclAI Statejnents r•r the Y¢Ar EBded 5 April 2024 P8e Report of the TrustttS Independent ExarnlAtrfs Rep•rt SIAtsmtArt •f Fkn•Klal At¢lvMbes Blmee Sheet Notes to the FINM¢l•l Ststeme*ts 7 to 13
Wrkt Fa•Hy R¢port •f the Tntytees fv the Y¢•r EDd¢d 5 Apr4 21ll4 The TnLSttt5 Present their alla1 report togetlw with the olthc tharity for thc 6 April 2023 10 5 April 2024. The TnLsl¢es Confimi tha¢ the Annual Repl and fin1#1 statemcnls of the chtty comply with the urreni s¢aiu¢ory requimiethts. the requirements of the clwiW5 governing documenl and the provisions of the Statement of Recommended Prn¢ti¢e (SORP), applicabk to charitTh preparing their accounts in accordance with the Financial Reporting Sththd Applicabk hrt ¢he UK and Republic ofirtland {FRS 102) {cffcctive l January 2019). OBJECTIVES AND ACTIVITIES Objedives and aims The charily'5 objecls are to further such exclusively ¢h¥ithk according io ihe law of En8laThJ and W&k5 as its Trus$ in ihcir discretion dd¢rrnin¢ from time io time. The charily was established moke 8nnts 0lsa11( and iNb"viduah for exclusively charilable purtM)ses. Publle benefii The Trus¢ees have hftd regard to the guidance iswEd by the Charily Commission on public ben¢fit and all grants mode will be tts further the charitys PUTf)5es for public benefit. ACHIEVEMENT AND PERFORMANCE Charlt8ble 8ttlvltles In acCoan¢t with the chan.S grani-making plicy. thring the financial year. the charity mad¢ 10 granls totalling £186,40312023.. 7 grnnts tolalling £163 J87). FINANCIAL REVIEW Financial posltloTh Durin8 the year under r¢vi¢w, total income was £40,956 12023- £38,945). lo1 exp¢ndilure wa5 £218.815 (2023: £194,809) and net gains on inveslments lots11 £166,098 (2023.. loss £473.5961. The inveslment poli¢y ststes that the ovaall ]e51ent objective of the charily is to rnaximise the return on invested assets while minimising risk and eX[SeS. Specifically the charily would Ihke to achieve a minimwn nei arU•l Teium of 5VA atier all (ees and expenscs. The £harily L5 fundcd by donatiotLS fmm the Wnghi Family and d0¢5 not fundrai. The charily has no relaied party Irdnsaclhon5. Reserves PDIIty The chariiy's unexpended funds ore all unrestricted lunds which have been earnwked and may be used generally lo further the charity's objects. The Trustees intend to nxTrniior the value of the unresiricted funds in real ims to ensure thai ihey are able to maintain the existin¥ level of clhariiable 8ivin8 for the foreseeable fulijre. A( year end. the value of U[eStrICted re5erve5 held wa5 £2,957,791 {2023: £2,969552). STRUCTURE. GOVERNANCE AND MAJ¥AGKMENT Cb8rity constitution The Wri8hi Family Foundion ts rc81Cred as 4 Charitsble Incrypwed (kganisaiion {CIO), refernice number CE¢J)2874. and its governing documtni is its c1xlitu1lon adr4Jted on 27 J•nu¥y 2015. Method of appointent or ElectiuTh ofTrusltts Apart from the first charity Tntt4 new TnLslees may be aPPDinied in future by the founding Trustee, Jonathan WrigkLI. in accordance with clause 10 of the governing documenl. Ifhe ceases lo be a Truslcc. Ihc remainin8 Trustees have the power ro apwni new Trnstees. At any titnc. iIKTe be a minimum of tht and a maximum of seven Trnslees in otTJce. The Charity does not have any cwloyec5 and the TtU5tees admini5w the day io day aciivilies of The charity.
Wrw F FowDdafl• Repwt olth¢ TThstee5 for the Ended 5 April 2024 STRucfuRE, COVERNANCE AND MANAGEMENT Rlsk msnAg¢m¢Dt The TTUSte¢s consides the following to be the key risks The Wright Family Foundation faces, and have mitigat¢d them as oN)ropriate. Ri5k5 atMI Tllitigatw)ns are regularly TeM¥ed by Tntte Firsily. the foundati,5 InVements are subJe¢l lo ¢h¢ wedidability of the financial markets. ReCed resourtts would atTect the ¢haritys ability to make grdnts wnd deltver its objectives. To mitigate this risk. the Trus¢ees review the 9S5EI allocation and fund rrtrformance rwlarly with expen inv¢stmeDI manager5 to eU[C it is Consis1 with ihe inv¢51ment and reser¥e5 PDIicy. Secondly, the fondatIon'S perf0mnce is reliAnl on granTees to Use the fouThlation'5 fuThts effectively to delivtt Chritsble a¢tivilies in line with the ¢Fwity'5 objectivs Grnntees tre sllbie to finan¢ial, organi5ational and programmalic failure. To miti8aie this risL the chaiiiy ¢onthL¢ts due diligence on granes before providing fuDdiD artd requests reports on perfonnance where apprwiate. REFERENCE AND ADMINISTRATIVE DETAILS Reglst¢r¢d crIty Dumber 1160188 PrI1paI 8ddr¢ss The JampDI Unit 3 (3rd FI) Ph¢onix Brewery 13 Bramley Road LONDON W106SP Trustee$ Dr J Mayer Mr J Wrighi Mrs K Wrighi Indepen(knt EsAmlner Cliv¢ Owen LLP Chartered Accountants & Ststuiory Auditors 140 Coniscliffe Rts Dlinglon Cowity Dutham DL3 7RT Soll¢ltors Russell-cooke LLP 2 Puiney Hill Lonthn SW15 6AB Investment maD8gers Mulirees Investor S¢ryi¢es 0c Carter Lane London EC4V SAN Page2
WrlEht Fxmlty Fo•nd*rf• Report of tbt Tr#stets for the Yr Ellded 5 Aprl 2•24 Approved by order of the Frt)ard of tnLSfres on 30 January 2025 •dsi8ned on its beh•lf by.. J Wright. Truslee Pa8e 3
IDdtpedel Exa1er'S R¢port to thp Trutha ol WTIEht F4mSty FouDdlio Independent ex•mlAer'i report to the of Wrleht Famlty F•undlltlo• I rert io the charity ¢rnsttes ott my examittati of the x¢ounts of Wri8ht Fatnily Foundation (the Trust) for the year ded 5 April 2024. Respomlbllltles And bslJ of report As the ciwiiy Intt$ of the Tn1 you are re4M)Dsibk fcr the weparthn of the ¥¢¢ounts in aecordattce with the requirements of th¢ ChJrili¢s Ad 2011 Cthe Act?. I repm in respect of my ¢xarninatiOD ofthe Trusvs acc(wJnts o¥1 urd¢r S¢dion 145 of the Act and in carrying out my examinalion I have followed all yplicable Diredi0$ given by the C1wiiy CrAnmission undcr Section 145(5Xb) ofihe Act. Indep¢teTht examlner'i xttemeDI I have completed my ¢xamination. I confirn that no material maitets have Come to my attention in connECtion with the examination giying m¢ c¥us¢ to beIve tst ITh any ma*rial tewL eounti118 records were not k¢pl in respect ofthe Trud as required by Se¢¢i(m 130 of the Act; or lh¢ ac¢ounts do not accord with those rc¢(Yds' OT the accounts do nol cornply with ihc appIlb rtqUIrem cernIng the and content of ac¢ourtls set out in Ihe Charities (Aco)unts and Report5) Regulaiion5 28 other ihan Sny requirement that the aeeounts 8ive true and fair view whith is nol a matter coLsidcred as part ityjependent ex8mination. I have no concems and hve come no other matters in ectIon with the exominalion to which attention shthjld be drawn in this report in orderto enable a properunderstanding of Ihe a¢eouftts be r¢xh¢d. aPZ Christopher Beaumont BA {HoAs) BFP FCA Clive Owen LLP Chattred Ac¢wnlants & S¢atutory Auditor5 140 Coniscliffc Road Darlinglon County Durhom DL3 7RT 30 January 2025
Wr Fmly F•uodad• StttThettt of FIAncial Attivities for the Yer Ended 5 April 2024 2024 Unrestrted fund 2023 Total funds IIYCOME AND ENDOWMENTS FROM Invement Income Other income 40,956 7,916 Totsl EXPENDITURE ON Rai51n8 fuThds 28,715 28,027 Charitsbk adivides Grant aeiivilies T•tal 218 815 Nel gain51(1055e51 on inVesthts 473 596) NET INCOMEJ(EXPENDITURE) {11,761) (629,4&)) RECONCILIATION OF FUNDS Toial funds broughi fotward 2.969,552 3.599,012 TOTAL FUIYDS CARRIED FORWARD 2957791 2 969 552 The notes ofthese fit)anciAI sthtemrnts Page 5
Wrllht Fmlty FoMDd#tl• Bl*¢e Sheet S ApTiI 2024 2024 2023 Totsl funds fund Notes CURRENT ASSETS Invesun¢n Cash a¢ bank 10 2.875.678 2,897,343 2.960,731 2.972,372 CREDITORS Amounts fallin8 due within ott year (2,940) (2,820) NET CURRENT ASSETS 2957791 2 969 552 TOTAL ASSETS LScURRENT LIABILITIES 2,957,791 2,969,552 IYET ASSETS 2 957 791 2 969 552 FUP4DS Unreslri¢l¢d funds 12 2.957.791 2 969 552 TOTAL FUNDS 2 957791 2 969 552 The fiNn¢ial sta1¢nnts werE apPved by the B(mrd of TneS and authorised for issue 30 January 2025 and w¢re signed on its behalf by.. J Wright. TnL5e
Wrht Famlly F•uMdatlDD Noles to tle StAternents for the YUT EDd¢d S Apru 2024 ACCOUNTINC POLICIES Basts of pr¢parlDg the fiAancl•l sl¢em¢nts The finan¢ial slalements have been pwartyj in xcordantt with Accounting and Reportin8 by Tharilies: Stalemenl of Recomm)ded Prnctice appli¢able ¢0 ¢lwiiies pieparing Ihcir accounls in accordance with th¢ Finala1 Reporting Srtdd applicable in the UK ond Republic of Ireland (FRS 102) (cffectivc l January 2019) - {Chan"lies SORP (FRS 1021}. the Fin111 R¢pLKting Starthrd applicabje in the UK and Republic of Ireland (FRS 1021 the ChaTiti¢s Ad 2011. Th¢ Wri8ht Family FoundalKJn meeLS ihe d¢finilion of a public benefit eniiiy under FRS 102. Assets and liabilities are initially recogThised at historical COA or ttan5action value unless (rtherwise slated in the rtlrvant accountin8 policy. The ¢rus¢ees have reasonabk exprfthtion the clwri(y will bave adtqua resources continue in op¢rdlional exisien¢e for Ihe forurtable futUTC. Thv5 thcy continuc to adopl thc going concern b&sis in preparing the annual accounts. Critital •e¢ountiDg judgements and key 50llrces of estimaliom uncertAinty Eslimates and judgnxnLS are continually ¢valuated and r based on historical expuience and h¢r factor& includin8 expeelations offutwe events th•i art believed be re¥SblE UTwJer the Circu1neel. Critical aOntIng tstimates and awmplions: The Charity makes estimalc5 4s5urnplions c(¥Kerning the fu[e. The Tesuhing accowiling esihma(es 8JMI 5SUmPtions will. by definilim. 5elkn equal the reiaied aciual TeSuIts. Charity statu5 The Wright Famity Foundation is a CIO regered with the CThariiy Commission. The PTincipal adthESS bs Tr Jamw. Unit 3D (3rd FI1. Phrxnix Brewery. IJ Bramley Road, Londo WIO 6SP. Ineome All income is re¢o8nised once the charity ¢nlitkrn¢nt to the inccrfne, il is wboble thai ihe income will be receivcd and the amrrtlnt olincome Teteivabk can be ftWUTtd rtliably. Donations are Tryo8nised when the charity has rt)iiced in wrilinB of both the amouni and seltlemenl dite. In (he eveni ihai a dallOn is subje¢1 ¢otrJiiioThs thai require a level of rfornct before the charity 15 ¢ntitled io the futMJ8 the income is deferrrd aThJ reCognid unlil either those conditions are fully met. or ihe fuifJlmen¢ of th¢sc COTLdilioNs is wl¥)Ily withtD the Control of the charily and rt is wob3ble thai those ¢ondition5 will be fulfilled in Ihe rcporlin8 period. Expettd5tthre Expenditure is recogfftised ofitt there is a legal or COnti¥t obli8aiion io transfer tt9rrt)M benefit to a ihird party. il is probabk ih• a tyansfer of economic behefiis will i% required in 5eltlement and the auTrt of the obli831ion be measuted rtli3bty. EXndlIUrr is classified by activity. The £ost5 of ea¢h aciivity are made up ofthe iolal of dir¢ci ¢osts and shad COS includLll8 SUP1Kt Costs involved in undertaking each acrivity. Direct costs atiributable ¢0 a 5ingk aclivily are all(Kated directly (o thai aeiivity- Shared Costs which coninbuie io more Ihan activity and SUprt Costs which are not aitribumble a single aciivity are app¢ed beiween those clivitics on a ba51s consistenl with the us¢ of Tesotrn. CcNtral statf costs tre allocated on ihe basis of tin 5p¢nt, aThJ depreciation charges allo¢*ed on the ponion of the •sset'$ use. Support costs are those costs incuffwj dirttlly in pPort ofexpenditure the objects of thc charity and include proj¢cl management caffia out at HeUarters. Govetnance costs are those Incued in ¢onnecti¢)n with adminislralion Df the chariiy and compli1e with c&111011 ¥TrJ statutory requiremen1& Costy of raising funds are costs incurred in attsxliD8 Volmary irwm< and those Inrred in ¢radin8 aciivit1¢5 th raise funds. coniinue(L..
Wrh¢ F•lty Fo¥•dad•D N•tes t• the FIAartftsl St•temeits- ¢•ntloued f•r tthe Year Eld 5 Aprll 21124 ACCOUNTING POLICIES- Exp¢udltllT¢ Charitable acttvities and Governce Costs costs tnCWr on the clwity'5 operatio. includin8 SUPPOrt costs a1 costs relatin8 to the governaKe of the ¢h¥ity appthioned to chlble 8ctivitie& All exlitu[e is inclusive of irtcovetable VAT. Grants payable are char8cd in thc yr whert the offer is mk except in those cw where the otTer is condhlional, such grants bcing wised as expendityre wh¢n th¢ eondilion$ attschin8 arc fulfilled. Grants offered subject to COTyJitions whirh have been at the year noted as a commimni, but not accrued as expeThditurc. IDtertst retelble Inleresl on funds held on deposit includcd when receivable )d th¢ amount be m¢15urtd reliably by the charity: thi5 15 noMllY upon of the iniuest paid or PAyabk by the Bank. Cagb At hnk and in haDd Cath ai b8nk and in haTh4 IrlUdeS cash aThl SI terni highly liquid inv¢51ments with a slx)rt maturily of three months OT less from the date of 8cquisill0 or opening of the d¢p)sii or similar 8KCOUDL Ll&blJltles ind provlslolls Liabilities are recogni5ed whcll there is an obligation * the Balance Sheet date as a Tesuli ol a past ¢vEnt. it is probabl¢ that 8 trnnsfer of economic benefil will rrquired in se(tlem¢n( aThd thE amounl ofthe settlemeni can bc eslimed reliably. Liabilities are recOls¢d ai ihe amththi thai the chaTiiy gniicipat¢s il will pay to 5etti¢ the d¢bi or the amouni it has received 35 Jvaed payments for the 8oods or services it rnU5t prtsvide. Provisions e measured at the bc5t estimate of the amounts required seitle the obligation. Where the effeci of the time value of money is rnateriL the provision is based on ihe pres1 value of th05¢ amounts. dL5counted at ihe pre-thx discount rate th reflect5 the risks specific the liability. The unwindinE of the discount is reco8nised within interest payable and simihr chaT8e The Charity is considered to pa55 the t&st5 sei ¢)ul in Paragraph I Schedule 6 of the Finance Act 2010 and therefore 1¢ meets lh¢ definilson of a fharity foT UK cotpvalion tax pUrSe5. Accordingly, the chArity is potentially exempt fmm taxation in rcsprtt of income or capital g4ills received within categories covered by Capter 3 Part I l of the CO)ratIon Tax Ad 2010 or Se¢tion 256 of th¢ TLxalion of Chargc&blc Gthin$ Ad 1992. to th¢ ¢xtent that income L¥ gain5 ar¢ applied eA¢lusRY¢ly to charitable pur)$C ge¢ountlng General funds are unrestricted funds whieh availabk for use at the discrdion of the Tru5tces in furthem¢e of the general obje¢lives of the charily atld which have noi been desi8nated for oth¢r purEM)se5. Investment income, 8ains and losses trt 8llo¢ated the wropriate fvnd. Forelgn ¢urrencles Monrtary a55ets and liabilities denominatcd in forriBn curren¢ies att irnnsl•d In sierlin8 at rale5 of exch8ng¢ nding at the baiaw¢ sbeet date. Transaciiotbs ib) fweign cUrreieS are translad into Sterling ai the ra* ruling on the da¢e of the transa¢iion. Exchange gairs and losses are Tecognised in the Staternenl of FinAncial Ac¢iviii¢5 incorporatin8 Incorne and Expendiiuye A¢¢ount. Flnanelal In$trurn¢•ts The charity only has fu)an¢ial assets and financial liabilities ora kind qualify as basic financial instnJmentS. Basic finanGial ins¢tumetLts initially reco8ni5ed at tran5xtion Wal wbsequently measured at thcir seiilement Yalu¢ with the exception of bank ls)ans which 8Te sutsequently mewr¢d at amortised cost usin8 th¢ etfeaive inwesl m¢thfyJ. cot)tinued...
Wryht Foumd*tlD to tht financial StstemeAts- ¢•ntSnued for tbe YtAr Ended 5 Aprll 2024 INVLSTMtKr INCOME 2024 2023 Inveslm¢nt income RAISING FUNDS Investment 1¥ement Costs 2024 2023 Investment Ma9¢men1 fees CHAIUTABLE ACTIVITIFS COSTS Grant funding of a1vill {5e¢ 5) Supwrt cosis {see noic 61 Tola15 Grant xtivitl¢5 186.403 GRANTS PAYABLE 2024 2023 Grani aciivities 186.403 163 387 The lolal grants pald in5titutiOTfj the yw was As follows: 2024 2023 Oasis Charitabl¢ Twst Alexartdra Wylie TowcT Foundation Free To Be Kid$ RGS Hari Mayer Rugby Portbello Tru GoFundMe IrelarKI Cancer Research UK Just Givin8 NBX Humane So¢ie¢y M¢r¢y For Anima15 CIWF Internath)nal Animals Asia WFF War Child The Nobl¢ B¢¢ Mary's Meals 168,005 134,632 500 20,0(KJ 5.000 2,500 525 230 6,0(K) 1.005 5.000 1.621 2.000 1,000 i.oos 657 163 387 Page 9 continued...
WTiKh¢ Fly F•¥d•d• Notu to the FiAAeiil Stttebellts- ct)atlDMed for tbe Year £nded 5 Aprll 2024 SUPPORT COSTS GovernaThce Finance T¢A&ts Grant athivities 3,697 Suppwl cosL% includcd in the ai¥)ve. att as follows: 2024 Grani tiYitie5 2023 Totsl activities Forei8n ex¢han8e losscs Indcpcndent examination Professional fees 2.9 792 2,400 995 TRUSTELS, REMUNERATION AND BENEFITS Th¢r¢ were no trusieerf remunernlion w oth¢r benefats for the year 5 April 2024 nor for thc year ended 5 April 2023. Trusttts. expeA The were tv) In¢¢xpenses paid the ye•r en1 5 April 2024 rLor for the year ended 5 Awil 2023. COMPARATIVES FOR THE STATEMENT OF VINANCIAL ACTIVITIFS "' Unr¢51rict¢d fLLnd INCOME AND ENDOWMENTS FROM Investmertl income Oiher incorne 7.916 38.945 EXPENDuRE ON Raising funds 28,027 Ch#ritble ietlvlties Grant a¢livitses 166782 T•til N¢t Sain(lO$seS) ¢)n investhients 473 596 NET INCOMEJ(EXPENDITURE) (629.4601 Page 10 c(miimied...
Wrbt Famly Found#tlD otes to tbe Finaotll 5txte¢mts- ln¥¢d for th¢ Yur Emkd S April 2(124 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- eomtinutd Unr¢strict¢d fund RECONCILIATION OF FUNDS Total funds brought fwward 3,599,012 TOTAL FUNDS CARRIED FORWARD 2 969 552 STAFF COSTS The charily has no employees othtr than thc wkn did rcccive any remuneration5 (2023- £Nill. No enwl¢)yee received rrmuneratioTh arnounlinB to llMbTe ihan £IAI.¢MMI in either year. io. CURRENT ASSET INVESTMENTS 2024 2023 Lis¢ed investsnen Cash balance5 1,614.789 1260 889 2,770,106 127 237 2.875.678 2 897.343 Listed Inves¢m¢nts Lisi¢d Se¢urilies MARKEf VALUE Ai 6 Apnl 2023 Addilion5 Disposals Revaluatiw 2.770.106 1.639.113 (2,960,528) At 5 April 2024 1614.789 As at 5 April 2024, the hi510ric c(& ofthe li#ed itsvesth)eNts was £1.610.IJXI (2023.. £2.316.2361. Pa8ell coniinuwj...
Wriiht Flty Foundatlon Notsi ¢• th¢ Flnancial S¢Itents- eontlmed f•r the Year FAMled S Aprll 2024 li. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 A¢¢NlS and defen income 12. MOVEMENT IN FUNDS Net mov¢m¢nt in funds Al 5.4.24 At &4.23 ry£ Unrestrltted futsds G¢nerdl fund 2.969552 (11,761) 2,957,791 TOTAL FUNDS 2 969 552 117611 2957 791 N¢t movement in fi¢1%. itKluded in the kne are as Collows: Incomin8 Re5YJur¢es Gaitis and Iossc5 Movement in funds Unrestrlded lunds General fund 40.956 (218,815) 166.098 TOTAL FUNDS 218 815 11.761) Comp•rtlY¢5 for mtsvtmext l* f¥nds Net moytmeni in fund5 Al 5.4.23 At 6.4.22 UDre5tricted funds G¢n¢ral fund 3.599.012 {629,460) 2,969.552 TOTAL FUNDS Cornparatiye net m0ment in funds. ill¢h¢d in th¢ abovc arc as follo IwKoming ReUrCeS ¢Epend¢d Gains •nd losses Movement in funds Unrestricted furtds G¢neral nd 38.945 (194.809) (473.596) (629.460) TOTAL FUNDS 194 809) 473.5961 629 460) 8e12 ¢onlinud..
Wrbt Fxthity FowRdlio Notes to the FiniMci*l Ststeme•ts- CODtIAued for the Yur EDd¢d 5 April Z024 12. MOVEMENT IN FUNDS- ¢QJbtlnwed A cumi yw 12 months and prior yetr 12 rn(Mbths ctynbined [lI10n is as follows.. Ne¢ movement in fuT¥J5 At 5.4.24 Ai 6.422 Unrestrieted fund5 General fund 3.599.012 1641.221) 2,957.791 TOTAL FUNDS 99.012 641.221) 2 957.791 A current year 12 months and wior year 12 months ¢ombined nw)verneni in fuTwJ& included in the above ar¢ a5 follow5.. Incoming Te50urces Gait)s and losses Movement in fuThJs expended Uttrestricted fund5 Generdl fund 79.901 (413,624) (307.498) {641,2211 TOTAL FUNDS 79.1 413 624} 307 498) 641.2211 RELATED PARTY DISCLOSURLS Therc wcre related party transaoions for the year ¢ 5 April 2024. Page 13