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2023-04-05-accounts

Charity registration number: 1160417

The Anthony Knights Foundation Trust

Annual Report and Financial Statements

for the Year Ended 5 April 2023

The Anthony Knights Foundation Trust

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 4
Statement of Trustees' Responsibilities 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 24

The Anthony Knights Foundation Trust

Reference and Administrative Details

Chief Executive Officer N Banger Trustees A C Knights, Chairman J Burrows, Secretary P South V Patel G O'Shea J M Knights Charity Registration Number 1160417 Principal Office Unit 21, Trafalgar Way Camberley Surrey GU15 3BN Independent Examiner Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

Page 1

The Anthony Knights Foundation Trust

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2023.

Objectives and activities

Objectives and aims

The Anthony Knights Foundation Trust is a children's charity based in Camberley, Surrey. The Foundation is about increasing positive experiences for children throughout Surrey, Hampshire and Berkshire who are terminally ill, disabled or living in extreme poverty.

The objectives of the Foundation are: to promote health and education; and the relief of those in need by reason of youth age ill health disability financial hardship or other disadvantage.

The Foundation's aim is to provide much needed specialist equipment, practical help and memorable childhood experiences.

The Foundation also aims to build the self-esteem of disadvantaged children and to assist siblings and families to cope with the everyday pressures.

Public benefit

The trustees confirm they have discussed the issue of public benefit and are confident that the breadth and scope of the work the charity undertakes complies with Section 17 of the Charities Act 2011 and has due regard to the Charity Commission's general guidance on public benefit.

Structure, governance and management

Nature of governing document

The charity is controlled by its governing document, a constitution, and is a Charitable Incorporated Organisation (CIO).

Recruitment and appointment of trustees

Trustees are active members who have proved themselves to be dedicated and committed to the cause of the charity. The trustees are subject to election having regard to skills, knowledge and experience needed for the effective administration of the charity.

Trustees are appointed for a term of 3 years by a resolution passed at a properly convened meeting of the charity trustees. There is opportunity for re-election at the end of the 3 year term. The board of trustees is responsible for appointing new trustees. Recruitment is often through recommended personnel, however consideration is made of those who offer their services. In selecting individuals for appointment as trustees, the charity trustees must have regard for the skills, knowledge and experience needed for the effective administration of the CIO.

There must be at least 3 charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or to appoint a new charity trustee

Page 2

The Anthony Knights Foundation Trust

Trustees' Report (continued)

Financial review

Donations and legacies have increased to the charity in this financial year. Expenditure has also increased, however due to the significant increase in donations received the charity has improved the funds position. Total funds at the end of the year are £314,890 (2022: £192,426) of which unrestricted funds are £286,026 (2022: £159,226).

In addition, expenditure has also increased in the year, but despite this, the charity has still managed to report a positive movement in funds for the year of £122,464 (2021: £77,031), increasing funds carried forward to £314,890 (2021: £152,846) of which £286,025 (2021: £120,397) are unrestricted.

Policy on reserves

In order to ensure operations can continue without interruption or harm to the charity's service, the charity aims to ensure a minimum reserve level of £50,000. This exceeds the required reserve level that equals three months operating costs and will be held in the charity's reserve high interest Lloyds bank accounts.

Investment policy and objectives

The governing document allows the charity a wide range of investment powers. The current investment policy is to place funds in excess of short term commitments in high interest Lloyds bank accounts. This ensures a prudent approach to managing the charities finances and maximisation of income. In the absence of specific conditions from funders, accrued interest is treated as unrestricted income.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

In the unlikely event of cash flow problems, the reserve funds will be used. In the future interest-bearing assets and liabilities will be held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. During the year, the charity has no bank loans, loans or overdrafts.

The charity has no significant concentration of credit risk.

Employment of disabled persons

The Anthony Knights Foundation Trust operated an equal opportunities policy.

Creditor payment policy

Payments are made within 30 days to suppliers.

Environmental policy

The charity recognises that its activities have a direct and indirect impact on the environment and recognises its responsibility to ensure sound environmentally and socially responsible practices in all of its activities.

Page 3

The Anthony Knights Foundation Trust

Trustees' Report (continued)

The annual report was approved by the of the charity on 15 January 2024 and signed on its behalf by:

......................................... A C Knights Trustee

Page 4

The Anthony Knights Foundation Trust

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The financial statements on pages 7 to 24 were approved by the trustees, and authorised for issue on 15 January 2024 and signed on their behalf by:

......................................... A C Knights Trustee

Page 5

The Anthony Knights Foundation Trust

Independent Examiner's Report to the trustees of The Anthony Knights Foundation Trust

I report to the trustees on my examination of the accounts of The Anthony Knights Foundation Trust for the year ended 5 April 2023.

Responsibilities and basis of report

As the charity trustees of The Anthony Knights Foundation Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the The Anthony Knights Foundation 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 examiner’s statement

Since The Anthony Knights Foundation Trust'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 ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of The Anthony Knights Foundation Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting 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.

...................................... C A Ryan, ACA ICAEW

Knoll House Knoll Road Camberley Surrey GU15 3SY

15 January 2024

Page 6

The Anthony Knights Foundation Trust

Statement of Financial Activities for the Year Ended 5 April 2023

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Other income
5
Total Income
Expenditure on:
Raising funds
6
Charitable activities
7
Total Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19
Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Other income
5
Total Income
Expenditure on:
Raising funds
6
Charitable activities
7
Total Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
£
295,265
17,477
1,333
18,343
332,418
(128,004)
(77,615)
(205,619)
126,799
159,226
286,025
Unrestricted
£
149,039
27,902
2,804
10,664
190,409
(135,313)
(16,267)
(151,580)
38,829
120,397
159,226		 Restricted
£
16,344
-
-
-
16,344
(648)
(20,031)
(20,679)
(4,335)
33,200
28,865
Restricted
£
14,503
-
-
-
14,503
(2,648)
(11,104)
(13,752)
751
32,449
33,200		 Total
2023
£
311,609
17,477
1,333
18,343
348,762
(128,652)
(97,646)
(226,298)
122,464
192,426
314,890
Total
2022
£
163,542
27,902
2,804
10,664
204,912
(137,961)
(27,371)
(165,332)
39,580
152,846
192,426

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 9 to 24 form an integral part of these financial statements. Page 7

The Anthony Knights Foundation Trust

(Registration number: 1160417) Balance Sheet as at 5 April 2023

Note
Fixed assets
Intangible assets
13
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: Amounts falling due within one year
17
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
18
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
19		 2023
£
1,598
220,669
1
222,268
45,666
139,526
185,192
(69,149)
116,043
338,311
(23,421)
314,890
28,865
286,025
314,890		 2022
£
2,726
232,418
1
235,145
41,180
59,934
101,114
(80,197)
20,917
256,062
(63,636)
192,426
33,200
159,226
192,426

The financial statements on pages 7 to 24 were approved by the trustees, and authorised for issue on 15 January 2024 and signed on their behalf by:

.........................................

A C Knights Trustee

The notes on pages 9 to 24 form an integral part of these financial statements. Page 8

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023

1 Accounting policies

General information

The charity is a registered charity in England and Wales and is a Charitable Incorporated Organisation (CIO), charity number 1160417.

The address of the principal office is Unit 21, Trafalgar Way, Camberley, Surrey, GU15 3BN.

Statement of compliance

The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

The Anthony Knights Foundation Trust 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 notes.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Monetary amounts in these financial statements have been rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Exemption from preparing group accounts

The charity has taken advantage of the exemption from the requirement to prepare consolidated financial statements, on the grounds that the aggregate gross income of the group is less than £1 million after consolidation adjustments.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Page 9

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Page 10

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class Amortisation method and rate
Software 5 years straight line

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Plant and equipment 25% reducing balance
Computer equipment 33.3% reducing balance
Land and buildings 25 years straight line

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Investments in subsidiaries

Investment in subsidiaries is included at cost less impairment value at the balance sheet date.

Page 11

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 12

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 Income from donations and legacies

Unrestricted

Donations and legacies;
Donations
Patron income
Grants, including capital grants;
Government grants		 General
£
177,336
117,929
-
295,265		 Restricted
£
16,344
-
-
16,344		 Total
2023
£
193,680
117,929
-
311,609		 Total
2022
£
42,125
99,438
21,979
163,542

Included within government grant income is income from the Coronavirus Job Retention Scheme.

3 Income from charitable activities

Lodge Rental Income Unrestricted
funds
General
£
17,477		 Total
2023
£
17,477		 Total
2022
£
27,902

Page 13

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

4 Income from other trading activities

Lotteries and competitions income
5
Other income
Income from trading subsidiary		 Unrestricted
General
£
1,333
1,333
Unrestricted
funds
General
£
18,343		 Total
2023
£
1,333
1,333
Total
2023
£
18,343		 Total
2022
£
2,804
2,804
Total
2022
£
10,664

Income from trading subsidiary

Income from the trading subsidiary represents income in respect of wages costs recharged to the subsidiary company.

Page 14

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

6 Expenditure on raising funds

a) Costs of generating donations and legacies

Note
Cost of fundraising activities
Allocated support costs
8		 Unrestricted
General
£
7,480
119,899
127,379		 Restricted
£
-
648
648		 Total
2023
£
7,480
120,547
128,027		 Total
2022
£
20,899
111,621
132,520

b) Costs of trading activities

Note
Event expenditure
Allocated support costs
8		 Unrestricted
General
£
130
495
625		 Total
2023
£
130
495
625		 Total
2022
£
-
5,441
5,441

Page 15

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

7 Expenditure on charitable activities

Expenditure on charitable activities by fund type

Note
Gifts and donations to
beneficiaries
Lodge rental
Allocated support
costs
8		 Unrestricted
General
£
47,599
963
29,053
77,615		 Restricted
£
-
19,722
309
20,031		 Total
2023
£
47,599
20,685
29,362
97,646		 Total
2022
£
1,400
10,779
15,192
27,371

Expenditure on charitable activities by activity type

Expenditure on charitable activities by activity type
Gifts and donations to beneficiaries
Lodge rental		 Activity
undertaken
directly
£
47,599
20,685
68,284		 Activity
support costs
£
2,937
26,425
29,362		 2023
£
50,536
47,110
97,646		 2022
£
2,919
24,452
27,371

Page 16

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

8 Analysis of support costs

Support costs allocated to raising funds

Support costs allocated to raising funds
Costs of generating donations and legacies
Support costs allocated to charitable activities
Governance
costs
£
Finance
costs
£
Gifts and
donations to
beneficiaries
261
31
Lodge rental
2,356
278
2,617
309		 Human
resources
£
97,827
Human
resources
£
2,397
21,564
23,961		 Other
support
costs
£
22,722
Other
support
costs
£
247
2,227
2,474		 Total
2023
£
120,549
Total
2023
£
2,936
26,425
29,361		 Total
2022
£
111,621
Total
2022
£
1,519
13,673
15,192

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 17

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
102,670
5,440
14,172
122,282		 2022
£
88,969
5,734
14,119
108,822

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

Staff

2023 2022
No No
3 3

No employee received emoluments of more than £60,000 during the year

The total employee benefits of the key management personnel of the charity were £68,721 (2022 - £68,721).

Note that during the current year, a reasonable proportion of the charity's wages costs were recharged to its subsidiary.

11 Independent examiner's remuneration

Examination of the financial statements 2023
£
6,600		 2022
£
6,000

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 18

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

13 Intangible fixed assets

Cost
At 6 April 2022
At 5 April 2023
Amortisation
At 6 April 2022
Charge for the year
At 5 April 2023
Net book value
At 5 April 2023
At 5 April 2022		 Other
intangible
asset
£
5,640
5,640
2,914
1,128
4,042
1,598
2,726		 Total
£
5,640
5,640
2,914
1,128
4,042
1,598
2,726

14 Tangible fixed assets

Cost
At 6 April 2022
At 5 April 2023
Depreciation
At 6 April 2022
Charge for the year
At 5 April 2023
Net book value
At 5 April 2023
At 5 April 2022		 Land and
buildings
£
254,082
254,082
27,949
10,163
38,112
215,970
226,133		 Plant and
equipment
£
13,649
13,649
7,519
1,534
9,053
4,596
6,130		 Computer
equipment
£
785
785
630
52
682
103
155		 Total
£
268,516
268,516
36,098
11,749
47,847
220,669
232,418

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £215,970 (2022 - £226,133) in respect of leaseholds.

Page 19

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

15 Fixed asset investments

15 Fixed asset investments
Shares in group undertakings and participating interests
Shares in group undertakings and participating interests
Cost
At 6 April 2022
At 5 April 2023
Net book value
At 5 April 2023
At 5 April 2022		 2023
£
1
Subsidiary
undertakings
£
1		 2022
£
1
Total
£
1
1
1
1
1
1
1

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting rights Proportion of voting rights Principal
Undertaking incorporation Holding and shares held activity
2023 2022
Subsidiary undertakings
To
arrange
events and
functions to
The Knights Foundation
Limited		 England & Wales Ordinary 100% 100% generate
profit
to
be
designated
wholly for
charitable
purposes

Page 20

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

16 Debtors

16 Debtors
2023 2022
£ £
Trade debtors 21,759 13,326
Due from group undertakings 22,574 27,854
Other debtors 1,333 -
45,666 41,180
17 Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 2,000 6,400
Other loans 36,325 53,684
Other creditors 2,815 2,715
Accruals 6,600 6,000
Deferred income 21,409 11,398
69,149 80,197
Creditors due within one year includes the following liabilities, on which security has been given by the charity:
2023 2022
£ £
Other loan 28,925 46,284
Deferred income
2023 2022
£ £
Deferred income at 6 April 2022 11,732 11,732
Resources deferred in the period 21,409 11,398
Amounts released from previous periods (11,732) (11,732)
Deferred income at year end 21,409 11,398
18 Creditors: amounts falling due after one year
2023 2022
£ £
Other loans 23,421 63,636
Creditors amounts falling due after more than one year includes the following liabilities, on which security has
been given by the charity:
2023 2022
£ £
Other loan 7,388 44,128

Page 21

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

The other loan represents a concessionary loan for the purchase of the lodge. The interest rate for the charity is 0.9375% unless the creditor becomes unassociated with the charity at which point interest will increase to BoE + 4%. The security for this loan is a registered first charge over the lodge. The repayment of the loan is across 60 monthly charges. At the year end, the carrying amount of the loan is £36,313 (2022: £86,487).

19 Funds

Unrestricted funds
General
General
Restricted funds
Lodge
App development
Total restricted funds
Total funds
Unrestricted funds
General
General
Restricted
Lodge
App development
Base Camp Everest Trek
Total restricted funds
Total funds		 Balance at 6
April 2022
£
159,226
31,634
1,566
33,200
192,426
Balance at 6
April 2021
£
120,397
28,235
2,214
2,000
32,449
152,846		 Incoming
resources
£
332,418
16,344
-
16,344
348,762
Incoming
resources
£
190,409
14,503
-
-
14,503
204,912		 Resources
expended
£
(205,618)
(20,032)
(648)
(20,680)
(226,298)
Resources
expended
£
(151,580)
(11,104)
(648)
(2,000)
(13,752)
(165,332)		 Balance at 5
April 2023
£
286,026
27,946
918
28,864
314,890
Balance at 5
April 2022
£
159,226
31,634
1,566
-
33,200
192,426

The specific purposes for which the funds are to be applied are as follows:

Lodge - purchase of the Knights Foundation Lodge and the provision of respite breaks for families at the Lodge App development - costs of developing the Teddy Bear Appeal app

Base Camp Everest Trek - expedition costs as part of a fundraising event

Page 22

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

20 Analysis of net assets between funds

20 Analysis of net assets between funds
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Intangible fixed assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
680
217,405
1
166,540
(75,177)
(23,421)
286,028
Unrestricted
funds
General
£
1,160
228,065
1
73,833
(80,197)
(63,636)
159,226		 Restricted
funds
£
918
3,265
-
24,679
-
-
28,862
Restricted
funds
£
1,566
4,353
-
27,281
-
-
33,200		 Total funds at
5 April
2023
£
1,598
220,670
1
191,219
(75,177)
(23,421)
314,890
Total funds at
5 April
2022
£
2,726
232,418
1
101,114
(80,197)
(63,636)
192,426

Page 23

The Anthony Knights Foundation Trust

Notes to the Financial Statements for the Year Ended 5 April 2023 (continued)

21 Related party transactions

During the year the charity made the following related party transactions:

N Banger

(N Banger is the CEO of the charity.)

N Banger was remunerated for his role as CEO, further details can be found within note 10 - Key Management Personnel.

At the balance sheet date the amount due to/from N Banger was £Nil (2022 - £Nil).

S Banger

(S Banger is the wife of N Banger, CEO.)

S Banger was employed by the charity & received remuneration of £35,501 (2022: £33,647) including employers pension contributions.

At the balance sheet date the amount due to/from S Banger was £Nil (2022 - £Nil).

Knights Security Limited

(Knights Security Limited is a related party of the Foundation by virtue of trustee, A Knights, being a director of the company at the year end date.)

During the year, the foundation incurred costs of £Nil (2022: £Nil).. At the balance sheet date the amount due to/from Knights Security Limited was £Nil (2022 - £Nil).

The Knights Foundation Limited

(The Knights Foundation Limited is a 100% subsidiary of the charity.)

During the year the foundation recharged costs of £18,343 (2022: £10,664) to the company in respect of recharged wages costs..

At the balance sheet date the amount due from The Knights Foundation Limited was £22,574 (2022 - £27,854).

Page 24