Charity Registered number 1164320
The Churchill Foundation
Accounts For the year ended 31 December 2023
Simpson Associates Chartered Accountants and Business Advisors
The Churchill Foundation Report and accounts Contents
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of Financial Activities | 6 |
| Balance sheet | 7 |
| Notes to the Financial Statements | 8 - 14 |
1164320
The Churchill Foundation Trustees' Annual Report for the year ended 31 December 2023
Charity registration number:
Structure, Governance and Management
The Charity is governed by Trust deed and is constituted as a Charitable Incorporated Organisation.
Trustees were chosen depending on their ability to support the foundation through their profession. The following persons served as Trustees in the year ended 31/12/2023:
l Mr C McCarthy l Mr S McCarthy l Mrs S Revell l Mr J Hatchard (Resigned 29th March 2023) l Mrs L Matthews
The Churchill Foundation has a Trustees Policy of which the main points are:
l Appointing trustees l Removal of trustees l Trustee meeting management & recording
There is also a resolution bank mandate, grant making policy and policy for partner charity criteria.
The Trust is managed by the Foundation Manager.
Our Trustees were selected for the following reasons:
l Spencer & Clinton McCarthy are founders of Churchill Living Ltd and have an invested interest in the success of charitable endeavours relating to the company l Suzanne Revell was appointed due to her high level of knowledge of marketing and employee engagement l John Hatchard was appointed due to his legal support for the Foundation l Lindsay Matthews is a chartered accountant and was appointed due to her knowledge of the financial sector
The following non-Trustees were also involved with the charity during the year: l Emma McCarthy (Managing Director) l Nicola Wallace-Walton (Foundation Manager) l Jo Scott (Management Accountant)
Principal Address: Churchill House Parkside Ringwood Hampshire BH24 3SG
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The Churchill Foundation Trustees' Annual Report for the year ended 31 December 2023
Objectives and Activities
The objectives of The Churchill Foundation are to support local communities as well as national charities on our chosen three core areas:
- l The relief of sickness, disease and human suffering l The promotion of health amongst the elderly l The support and wellbeing of the young
Our main activities are to support both charity events and small grants. Each year the trustees choose a range of charities of all sizes to support not only financially, but also through exposure via the Churchill Group’s employees, homeowners and business partners. In September 2023 Macmillan Coffee Mornings were held at various locations across the country, and several employees took on a Mighty Hike to raise additional funds raising a grand total of £72,291 for MacMillan which included a £9,000 donation from The Churchill Foundation.
Colleagues and apartment owners from the Churchill Group also took part in various personal challenges through the year to raise money for their chosen charities, with their fundraising efforts matched by the Foundation by up to £1,000.
The small grant scheme gives employees, homeowners and business partners from The Churchill Group the opportunity to put forward charities or individuals who need financial support up to the value of £2,000.
All Trustees of The Churchill Foundation have had regard to the guidance issued by the Charity Commission on public benefit.
Grant making policy
Small grants: (£50 - £2,000) Applicants for small grants are open all year round. Applicants must be referred by a colleague, homeowner or business partner from The Churchill Living Group. The application process is available on The Churchill Foundation website.
All grants have to be agreed by the trustees. If it is an urgent donation, at least one trustee needs to sign off the donation for a small grant up to £2,000. Anything over £10,000 needs to be agreed in a trustees meeting and recorded in the minutes.
Achievements and Performance
Through the small grants programme, events and match funding, the Foundation has been able to support various charities, individuals and local communities.
Below are examples of how donations from The Churchill Foundation have impacted some of the charities and individuals supported in 2023.
In February and March 2023 Winter Warmer events were held at some of the retirement Lodges raising a total of £10,334.53, which included £1,719.08 match funding for the winners from the top 4 Lodges to benefit 40 different charities.
In August 2023 Colleagues at Churchill’s Ringwood offices raised £563 through a charity Colour Run, with all proceeds going back into the Foundation.
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The Churchill Foundation Trustees' Annual Report for the year ended 31 December 2023
Achievements and Performance (Continued)
Our main activities are to support both charity events and small grants. Each year the trustees choose a range of charities of all sizes to support not only financially, but also through exposure via the Churchill Group’s employees, homeowners and business partners. In 2023 the charity was able to run a number of events including MacMillan Coffee mornings and a Mighty Hike raising over £72,000 (inc. match funding of £9,000), a Golf Tournament raising £49,570, and a series of Winter Warmer coffee morning events that raised £10,334.53 (inc. match funding of £1,719.08) for various local charities.
In September 2023 the return of the annual Churchill Foundation Golf Tournament at Bowood Hotel, Spa and Golf Resort in Wiltshire raised £49,570 for the Foundation.
In December 2023 colleagues at our Head Offices in Ringwood raised £2,094 and donated 270 toys and gifts to support Wave 105’s Mission Christmas Cash for Kids appeal for disadvantaged children. A further £587 was raised by taking part in Save the Children’s Christmas Jumper Day initiative, and donated to Save the Children.
Through the small grants programme, the Foundation was able to award funding of £38,136.64 to 26 different charities.
The Firefighters Charity received a £1,000 donation from the Foundation to support its work providing emotional, physical and financial wellbeing support to Firefighters and their families.
FastAid Birmingham & Solihull’s team of volunteer Community First Responders received a £2,000 donation from the Foundation, helping to continue its important work in the community.
Wales Air Ambulance received a £2,000 donation from the Foundation to help continue its vital support for those in need.
We also supported many of our colleagues and owners by match funding their personal fundraising efforts.
Jubilee Lodge in Seaton raised £1,293.16 for the Devon Air Ambulance Trust through a special Summer Fete, which was boosted by £1,000 of match funding from the Foundation to make a total of £2,293.16 going to the charity.
The Churchill Foundation supported a total of 97 different charities during the year.
Performance of fundraising activities against objectives set
The Churchill Foundation raised a total of £303,746 during 2023, building strongly on the £241,360 total raised in 2022 and marking a third consecutive year of improvement since the Covid pandemic.
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The Churchill Foundation Trustees' Annual Report for the year ended 31 December 2023
Financial Review
The Churchill Foundation has raised over £2.3 million in the eight years it has been operating, which is a fantastic achievement. Net funds before donations made in 2023 totalled £226,679, and the charity has reserves of £402,208 of which £321,970 has been set aside for a larger future project.
The trustees have decided to hold a reserves of £80,237 to ensure there are enough funds to cover overheads if there was an economic down turn. It also enables the Foundation the chance to grow in the future.
In addition to the reserve funds, the Foundation has held an additional £321,970 which is to be used for a larger project in the future. The trustees have discussed different project ideas and we are currently working to establish a new partnership with a charity that we believe will resonate strongly with our colleagues, customers and wider stakeholders.
Declarations
The Trustees declare that they have approved the Trustees' report above.
Signed - CLINTON McCARTHY
30 October 2024
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The Churchill Foundation Independent examiner's report
Independent examiner's report to the Trustees of The Churchill Foundation
I report to the trustees on my examination of the accounts of The Churchill Foundation for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity Trustees of the 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 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
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with 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 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.
SIGNED: Adrian Simpson FCA Simpson Associates Chartered Accountants and Business Advisors Alum House, 5 Alum Chine Road Westbourne Bournemouth Dorset BH4 8DT
30 OCTOBER 2024
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The Churchill Foundation Statement of Financial Activities for the year ended 31 December 2023
| Notes Unrestricted Restricted Total funds funds 2023 £ £ £ Donations and legacies 161,710 - 161,710 Charitable activities 50,438 90,289 140,727 Other trading activities 1,309 - 1,309 Investments - - - Total incoming resources 3 213,457 90,289 303,746 Raising funds 2,864 180 3,044 Charitable activities 5 57,660 90,109 147,769 Other 74,023 - 74,023 Total outgoing resources 4 134,547 90,289 224,836 78,910 - 78,910 Net movement in funds 78,910 - 78,910 Reconciliation of funds Total funds brought forward 276,433 46,865 323,298 Total funds carried forward 355,343 46,865 402,208 Net (expenditure)/income before investments |
Total 2022 £ 166,673 73,460 1,227 - 241,360 906 95,875 33,979 130,760 110,600 110,600 212,698 323,298 |
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1164320
The Churchill Foundation Registered number: Balance Sheet as at 31 December 2023
| Notes Current assets Debtors 6 Investments held as current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Total assets less current liabilities Creditors: amounts falling due after one year 8 Net assets/(liabilities) Funds Restricted funds Unrestricted funds Shareholders' funds 9 |
Unrestricted Restricted Total funds funds 2023 £ £ 26,214 2,070 28,284 - - - 347,596 52,045 399,641 373,810 54,115 427,925 (18,467) (5,932) (24,399) 355,343 48,183 403,526 - (1,318) (1,318) 355,343 46,865 402,208 - 46,865 46,865 355,343 - 355,343 355,343 46,865 402,208 |
Total 2022 £ 39,581 - 333,280 372,861 (46,994) 325,867 (2,569) 323,298 46,865 276,433 323,298 |
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Signed on behalf of all the Trustees by:
Signed - CLINTON McCARTHY Approved by the board on - 30 OCTOBER 2024
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The Churchill Foundation Notes to the Financial Statements for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Statement of Recommended Practice (SORP) and the Charities Act 2011. These accounts are prepared on a going concern basis.
Recognition of income
Income is recognised in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resource, when it is likely that the Trustees will receive the resource and that its monetary value can be reliably measured.
Volunteer help
The value of any voluntary help received is not included in the financial statements but is described in the Trustees' annual report.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The charity is exempt from corporation tax on its charitable activities.
| 2 Employees Average number of persons employed by the company |
2023 Number 1 |
2022 Number 1 |
|---|---|---|
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The Churchill Foundation
Notes to the Financial Statements
for the year ended 31 December 2023
| 3 Analysis of income 2023 £ Unrestricted funds Donations and legacies Donations and gifts 147,231 Equipment sold to staff members 49 Donated goods, facilities and services: Seconded staff 9,229 Other 5,201 161,710 Charitable activities MacMillan coffee mornings - Tea Time Talk - Lodge & office events - Lodge fundraising - Warming mornings - Staff fundraising - Mission Christmas/fashion show - Office tuck shop 1,309 Xmas jumper day/raffle - Wear it pink day CRl Sponsorship Movember Golf 49,570 Head Office Quiz Night 305 Colour Run Event 563 51,747 Total income 213,457 |
2023 £ Restricted funds - - - - - 57,436 8,615 6,414 - 11,014 2,094 - 587 402 3,500 227 - - - 90,289 90,289 |
2023 £ Total 147,231 49 9,229 5,201 161,710 57,436 8,615 6,414 - 11,014 2,094 1,309 587 402 3,500 227 49,570 305 563 142,036 303,746 |
2022 £ Total 156,388 125 9,877 283 166,673 56,475 - 3,203 7,724 4,682 534 1,227 349 493 - - - - - 74,687 241,360 |
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The Churchill Foundation Notes to the Financial Statements for the year ended 31 December 2023
| 4 Analysis of expenditure Expenditure on raising funds: Tuck shop supplies Staff fundraising Staging fundraising events Advertising and publicity Grants paid Donated goods, facilities & services Staff salaries and pensions Independent examiner's fees Trustee liability insurance GDPR registration Motor and travel Golf costs Other Total expenditure Examiner's fees Independent examiner's fees |
2023 £ Unrestricted funds 861 - 889 1,113 2,864 57,660 1,639 40,111 1,710 1,212 35 6,460 22,524 332 74,023 134,547 |
2023 £ Restricted funds - 180 - - 180 90,109 - - - - - - - - - 90,289 |
2023 £ Total 861 180 889 1,113 3,044 147,769 1,639 40,111 1,710 1,212 35 6,460 22,524 332 74,023 224,836 2023 £ 1,710 |
2022 £ Total 510 396 - - 906 95,875 1,824 24,877 1,644 1,103 35 3,858 - 638 33,979 130,760 2022 £ 1,644 |
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The Churchill Foundation
Notes to the Financial Statements for the year ended 31 December 2023
5 Grantmaking
Analysis of grants paid (included in cost of charitable activities)
| Analysis MacMillan coffee mornings Tea Time Talk Match fund donation Lodge & office events Lodge fundraising - Warming mornings Staff fundraising Mission Christmas/fashion show Xmas jumper day/raffle Wear it pink day CRL sponsorship Movember Other restricted Various unrestricted activities |
2023 Grants to institutions £ 57,436 8,615 19,218 6,414 - 10,834 2,094 587 402 3,500 227 305 38,137 147,769 |
2023 Grants to individuals £ - - - - - - - - - - - - - - |
2023 Total £ 57,436 8,615 19,218 6,414 - 10,834 2,094 587 402 3,500 227 305 38,137 147,769 |
2022 Total £ 60,475 - 9,121 3,203 7,724 4,287 534 349 493 - - - 9,689 95,875 |
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The Churchill Foundation Notes to the Financial Statements for the year ended 31 December 2023
| Grants made to institutions Name of institution 176th Fromeside Brownies Alex Hulme Foundation Alzheimers Society Blood Bikes Bournemouth Above & Beyond British Heart Foundation Cancer Research Challengers Childrens Hospice South West Counselling Together Dementia UK Devon Air Ambulance Diabetes UK Dorchester Community Nursery School Emily McDonald Epiphany School Friends Association Fastaid Fire Fighters Charity Great North Air Ambulance Hope House Childrens Hospice Jolly Good Company Kent Disability Football League Lighthouse Construction Industry Charity MacMillan Motor Neurone Disease Association Pets As Therapy Parkinsons UK St Johns Parents & Teachers Association St Raphaels Hospice Swim Bournemouth Thames Valley Air Ambulance The Air Ambulance Service The Change Foundation The Inflammatory Breast Cancer Network The Elizabeth Foundation The Anne Robson Trust TRIP Honiton Wales Air Ambulance Willdoes Winton Wanderers Football Team Youth Families Matter Total Grants to institutions in reporting period Other unanalysed grants below £1,000 Grants made to individuals Total Grants paid |
2023 Total amount of grants paid £ 1,500 - - 1,138 2,000 - 1,159 1,500 1,845 1,000 1,159 2,293 1,415 1,500 2,000 - 2,000 1,000 1,076 - 2,000 2,000 - 72,291 1,703 1,000 1,159 1,600 1,840 1,000 1,000 1,002 1,500 2,000 1,000 - 1,000 2,000 - 1,000 2,000 119,680 28,091 - 147,769 |
2022 Total amount of grants paid £ - 3,595 1,655 - - 6,389 - - - - - - - - - 1,000 - - - 3,098 - - 2,000 60,475 - - - - - - - - - - - 2,000 - - 4,319 - - 84,531 11,344 - 95,875 |
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The Churchill Foundation
Notes to the Financial Statements for the year ended 31 December 2023
| 6 Debtors Trade debtors Other debtors 7 Creditors: amounts falling due within one year Other creditors 8 Creditors: amounts falling due after one year Other creditors 9 Charity funds 1 January 2023 £ Restricted Supercar Show 10,680 MacMillan 34 Charity Shoot 31,207 Lodge & office events - Mission Christmas/fashion show - Movember - CRL Sponsorship - Warming Mornings - Sky Dive Event 130 Charity Golf 4,680 Wear it Pink Day - Xmas Jumper Day - Other 134 Restricted funds 46,865 Unrestricted funds 276,433 Total funds 323,298 |
Income £ - 57,436 - 6,414 2,094 227 3,500 8,615 - - 402 587 11,014 90,289 213,457 303,746 |
2023 2022 £ £ 18,868 23,154 9,416 16,427 28,284 39,581 2023 2022 £ £ 24,399 46,994 2023 2022 £ £ 1,318 2,569 Expenditure 31 December 2023 £ £ - 10,680 57,436 34 - 31,207 6,414 - 2,094 - 227 - 3,500 - 8,615 - - 130 - 4,680 402 - 587 - 11,014 134 90,289 46,865 134,547 355,343 224,836 402,208 |
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The Churchill Foundation
Notes to the Financial Statements for the year ended 31 December 2023
10 Related party transactions
The Churchill Foundation is related with Churchill Living Ltd, due to some of the Trustees also being directors of that company. During the year, Churchill Living Ltd donated goods and services to the Trust of £9,229 (2022 £9,877).
11 Other information
The Churchill Foundation is a charitable incorporated organisation and is registered with the Charities Commission.
Its registered office is:
Churchill House Parkside Ringwood Hampshire BH24 3SG
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