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
1
## **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.
2
## **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.
3
**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
4
**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:
- accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
- the accounts do not accord with those records; or
- 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
5
## **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|
|---|---|
6
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|
|---|---|---|
Signed on behalf of all the Trustees by:
Signed - CLINTON McCARTHY Approved by the board on - 30 OCTOBER 2024
7
**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|
|---|---|---|
8
## **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|
|---|---|---|---|
9
## **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|
|---|---|---|---|---|
10
## **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|
|---|---|---|---|---|
11
## **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|
|---|---|---|
12
## **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|
|---|---|---|
13
## **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
14