2021-12-31-accounts - CGWM UK Charitable Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year 1[st] January 2021 To 31st December 2021

From

Section A Reference and administration details

Charity name Other names charity is known by Registered charity number (if any) 1163295 Charity's principal address 11 Strand

Psigma Foundation

London

Postcode WC2N 5HR

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
John Christopher Anthony Howard- Smith	Psigma Investment Management Limited, CEO	25/08/2015 – ongoing
Harry Spencer Charles Schofield	Psigma Investment Management Limited	25/08/2015 – ongoing
Joseph Tomas Nunes	Psigma Investment Management Limited	25/08/2015 – ongoing
Mike Myers	Psigma Investment Management Limited	20/02/2020 - ongoing
Jag Singh	Punter Southall Wealth Ltd	27/09/2021 - Ongoing

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Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

John Howard-Smith, Chief Executive Officer (CEO), Psigma Investment Management Ian Nash, Company Secretary, Punter Southall Group

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Foundation

(eg. trust deed, constitution)

Charitable Incorporated Organisation (CIO) How the charity is constituted

(eg. trust, association, company)

Appointed John Howard-Smith, CEO Psigma Investment Management Trustee selection methods

(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

General Information

The Psigma Foundation is a CIO and has five trustees. All trustees are full time employees and are appointed from Psigma Management Limited. Trustees applied and were appointed by John Howard-Smith, CEO of Psigma Management Limited and Chair of Trustees of the Psigma Foundation. All application to this voluntary role were submitted by Psigma colleagues by way of email.

How do we agree on which charities to support?

Every two years from December we solicit charitable support requests from across the Psigma business. Colleagues submit requests to a Foundation outlook mailbox and these are aggregated into one summary sheet. The following categories should be investigated fully considered when making the submission:

Nominated Charity
Charity Website
Who Nominated the Charity and how much time they can commit to supporting our money raising efforts
Summary of charities aim / vision
• Summary of funding ratio /investment principles of nominated

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charity

Reason for chosen charity
Other Supporting information and links
Whether charity is officially registered and its Registered Charity Number.

Once nominations are received, Trustees review all submissions privately before convening to vote on their pre-determined top three choices. Declaring any conflict of interest at outset and removing ourselves from voting for that ‘conflict’ charity.

During the period from December 2014 to December 2015 we agreed to support the charities throughout a 12-month period. This policy was revised in December 2015 to a 24-month period so that we could spend more time getting to know the charities and to allow us to organise more events and raise further funds, as the main fundraising exercise is done every 2 years (Psigma bike ride)

Selection Criteria

We support charities with a local or personal connection to the staff of Psigma Investment Management who will also nominate charities to be supported.

Nominations are sought, evaluated and selected by the Trustees where it is felt that our financial support can make a significant improvement to the wellbeing of those experiencing hardship.

Charities cannot be supported in back-to-back periods and must have a break (of at least two years) before being reconsidered. To date we have not re-elected the same charity.

Procedure

On a day-to-day basis trustees are full time employees of Psigma Investment Management and work for Psigma Investment Management Ltd.

Meetings

The Trustees meet formally to vote on charity submissions. They further meet formally each quarter to discuss progress, ideas for charity fundraising events and any further business. Any conflicts of interest are recorded at the start of the meeting and meeting notes agendas are produced. These notes are all approved by all Trustees and then saved electronically with all charity related documentations on a secure, central drive. Access is only permitted to appointed Trustees.

Monies

The Foundation does not hold funds on reserve of for grant giving purposes. Any donations are made through our Psigma Foundation Virgin Giving Site (available online and offline) and monies are released in a three way split to the charities. We aim to hold a zero balance at the end of each support period.

http://uk.virginmoneygiving.com/fundraiser = web/fundraiser/showFundraiserPage.action?userUrl PsigmaFoundation&f ald=668125&isTeam=true

Section C Objectives and activities

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Summary of the objects of the charity set out in its governing document

The objects of the CIO are for the public benefit to further such exclusively charitable purposes according to the law of England and Wales as the trustees in their absolute discretion from time to time determine, and in particular (but without prejudice to the generality of the foregoing), to reflect the proposals expressed by the staff and directors of Psigma Wealth Limited. Nothing in this constitution shall authorise an application of the property of the CIO for purposes which are not charitable in accordance with the Charities Act 2011 and any applicable legistation.

Further Information

The Psigma Foundation was incorporated August 2015 and following the nomination and submission process we agreed to support the following three charities from the period of December 2014 to December 2015:

Cardiac Risk for the Young (CRY) – http://www.c-r-y.org.uk)
• Sands – https://www.uk-sands.org
Shelter from the Storm – http://www.sfts.org.uk

During the initial 12 month period outlined above the trustees organised a number of fundraising activities and set up a Fundraising site through Virgin Giving to hold and subsequently administer funds received in a three way split to the charities represented.

As outlined in the Governance section above, from December 2015 we agreed to revise our funding support policy from a 12 month period to 24 months and this came in to effect for the three charities that were selected in January 2016. These were as follows:

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

NAIT Babies - http://www.naitbabies.org/
Restart Lives - www.restartlives.org
Cure Parkinson’s Trust - https://www.cureparkinsons.org.uk

These 3 charities ‘term’ came to an end at the end of the 2017 year and following further submissions the Trustees agreed to support three new charities for the 2018-19 period.

Stanstead Lodge - http://www.standsteadlodge.org
• Wooden Spoon – https://woodenspoon.org.uk
Action for A-T – https://actionforat.org

2019

Following on from the 2018 fundraising efforts we had the charities come in at the beginning of 2019 to explain how our funding had helped in the previous year and what they were looking to spend future funds on and how we could help. This is always a positive experience as it reenergises fund raising efforts for the year ahead.

One of our Trustees (Sara Walsh) has announced she is leaving the company and has stood down from her role at the end of 2019. Sara was a key architect in establishing the Psigma Foundation and has always brought both fantastic ideas but also a very professional element to the Foundation. The Trustees have all thanked Sara for her efforts.

After numerous applications, it was decided that Mike Myers was the best candidate to replace Sara as a Psigma Foundation Trustee. He will have large shoes to fill but we believe will continue to help the Foundation grow.

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2020

3 new charities were chosen for the 2020-2021 period:

3H Helping Hands for Holidays - 3hfund.org.uk
• Jo's Cervical Cancer Trust - jostrust.org.uk • Protection Against Stalking (PAS) - Protection Against Stalking | Look Forward Not Behind

Unfortunately, due to the COVID-19 Pandemic, all fund raising activities were cancelled and postponed.

2021

The 3 charities for the 2020-2021 period:

3H Helping Hands for Holidays - 3hfund.org.uk
• Jo's Cervical Cancer Trust - jostrust.org.uk • Protection Against Stalking (PAS) - Protection Against Stalking | Look Forward Not Behind

Jag Singh was added as a Trustee to help with the growth of the foundation

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

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Section D Achievements and performance

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Section D Achievements and erformance p

Summary of the main PLEASE SEE PREVIOUS SUBMISSIONS FOR INFORMATION ON achievements of the charity PREVIOUS RAISES AND CORRESPONDING AMOUNTS. during the year 2021 Update Update on our Fundraising Events

Due to the COVID-19 Pandemic, fundraising activities was limited. Fundraising was primarily through the client golf day and individual activities with the Psigma Foundation as the supported charity.

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Section E Financial review

The Charity does not hold reserves.

Brief statement of the charity’s policy on reserves

Details of any funds materially None in deficit

Further financial review details (Optional information)

Principle Source of Funds is our friends/colleagues and client’s You may choose to include generosity. These are then matched by Psigma Investment Management additional information, where up to £9,000 p/a. relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Mike Myers Position (eg Secretary, Chair, Trustee etc)

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Date 11, November 2022 TAR Mar¢h 2012

----- Start of picture text -----
Charity Name No (if any)
Psigma Foundation 1163295
Receipts and payments accounts CC16a
For the period Period start date Period end date
To
from 01/01/2021 31/12/2021
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
4,971 - - 4,971 114
- - - - 8,240
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
4,971 - - 4,971 8,354
AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 4,971 - - 4,971 8,354
A3 Payments
6,541 - - 6,541 1
- - - - 8,507
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 6,541 ] - - 6,541 8,508
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments 6,541 - - 6,541 8,508
Net of receipts/(payments) - 1,570 - - - 1,570 - 154
A5 Transfers between funds - - - - -
A6 Cash funds last year end - - - - -
Cash funds this year end - 1,570 - - - 1,570 - 154
----- End of picture text -----

CCXX R1 accounts (SS)

18/11/2022

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds	Details Details Details *Total cash funds* (agree balances with receipts and payments account(s)) Details Details Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ 783 - - - - - 783 - Agreement Error OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Michael Myers	Endowment funds to nearest £ - - -
			-
			OK
			Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 11/11/2022

CCXX R2 accounts (SS)

18/11/2022