Charity number: 1165353 THE CIAO FOUNDATION CIO UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB
THE CIAO FOUNDATION CIO CONTENTS Page Reference and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsers Trustees. Roport Independent Examlner's Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
THE CIAO FOUNDATION CIO REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees Andrew Hogge, Chairman Andrew Rogers Leona Ahmed Richard D. Brazier Charity registered number 1165353 Principal office Meridian House 2 Russell Stoel Windsor Berkshire SL41HQ Founder & President GeOffY Barber Accountants Lubbock Fine LLP Chartered Accounlanls Palernosler House 65 St Paul's Churchyard London EC4M 8AB Page 1
THE CIAO FOUNDATION CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their Annual Report together with the financial slalement of the Ciao Foundation CIO for the period from 1 April 2021 to 31 March 2022. The Trustees confirm the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. History The Ciao Foundation was formalty established in February 2016 as a charitable incorporated organisation ICIOI. However. its vision and ideology evolved over a three-year period from the firm belief of Its founder, Geofftey Barber, that Challenge is an Opportunity. Geoffrey Barber himself faced a life-changing challenge having survived a horrific car crash in 2001, which left him in danger of not walking again. Through his determination, strength and belief he embraced this challenge lo recover and resolved to pass on this learning and experience lo encourage others to overcome their own challenges. As a result, the Ciao Foundation was officially formed and registered with the Charity No. 1165353. Geoffrey Barber Is the President for Life of the Ciao Foundation and the following are Trustees Andrew Hogge Ichaimianl, Andrew Rogers, Leona Ahmed and Richard Brazier. Nugmais Powlesland is the Charity Manager. Nugmais receives and evaluates all the Ciao Award applications and reports to the Trustees with her recommendations. These applications are then reviewed at the Trustee meetings which lake place 4 times every year. The Ciao Awards are then agreed by the Trustees and Nugmais liaises with all Award winners ensuring they provide all sufficient paperwork before the Awards are made. Nugmais then arranges for individual presentations by the Trustees lo the Award winners. Nugmais is also very focused on fund raising on behalf of Ciao with help provided by Kale Lane. We have an Administrator, Christina Gadsden, who attends Trustee meetings, takes minutes and assists with fundraising events. Christina kindly volunteers her services to Ciao. All media work is undertaken by Jamie McGee, much of his work is done for the Charity on a cost basis only. Structure. Governance and Management Oryanisational Structure: The Ciao Foundation CIO, registered as a Charity in January 2016, is governed by ils Constitution which was adopted on 29 January 2016. The charity is managed by ils Board of Trustees who meet to consider the progress of the Charity and ils future direction. Page 2
THE CIAO FOUNDATION CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The trustees who setved during the year were.. Andrew Hogge (Chairman) Andrew Rogers Leona Ahmed Richard D. Brazier Sian O'sullivan (Resigned 12 October 20211 The Trustees are very appreciative of the support they received during the yearfrom their ambassadors. Rob Camm Sophie Elwes Vicci Ross Method of Appointment or Election of Trustees- Trustee appointments are govemed by ils Ctsnstitution which stales that Trustees sh811 be eleeled at the annual genefftl meeting. Oblectlves In setting the objectives and planning the activity of the charity, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. It is the belief of the Ciao Foundation that anyone can overcome a challenge. Our aim is to motivate, inspire and help individuals going through challenges. We provide aid and funding to help and encourage those individuals to find their strength, meet their seemingly insurmountable challenges and achieving their goals. The objectives of the charity as set out and agreed by the Trustees are as follows'.- The first objective is to Careful consider, evaluate and select the most deserving applicants. The applicants musl show a specific need or plan and Intend lo demonstrate how this will help them meet and overcome their challenges. Awards are given to the individual and not lo an organisalion. The second objective is lo recognise those people who have successfully overcome their own challenges and are advising others on how in turn lo overcome theirs. The third objective is to help, educate and change the ath'tude of people to welcome, meet and overcome challenges. We believe this will help people to improve their lives and the lives of their families and communities. The Awards given lo SUC$sful applicants are known as Ciao Awards" which are tangible being in the form of for instance therapeutic support, or specialised equipment (part or fully paid for). The Awards help both the recipient and many others as illustrated in this report. Page 3
The events really are special. After such a long time it really is what everybody needs. We are so grateful to you and your funding partners. Thank you ALL
THE CIAO FOUNDATION CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 Madlins, Cyril Leonard, and CPI nominated Ciao as their chosen charity and instead of sending out Christmas cards they made donations to Ciao A vole of thanks was given to the Green Hall Foundation for their kind and generous donation of £3,000. A vote of thanks was given to Leona Ahmed who donated £1,200 over the year. Several other fund-raising activities were postponed due to the Coronavirus outbreak including the Ciao Golf Day which was rearranged for 2022. Ciao Awards We receive 100's of applications and the awards that we have been made have helped those suffering from for example- Physical Disabilities often through life changing injuries PTSD Mental Health challenges Abuse In addition lo the Award referred to above relating lo Lily Mills and Sean Mccallion here are 3 further examples of Ciao Awards approved by the Trustees during the year- Jonathan Wallach Jonathan has been a strong supporter of Ciao and having nearly lost his baby daughter at birth we were very pleased to fund his amazing challenge of competing in the Marathon des Sables undertaking 6 marathons in 7 days in the Moroccan Sahafft Desert Itempeffttures soaring to 60C at limes I I lo fftise funds to purchase an incubator for the Chelsea & Westminster Hospital Brlstol Bears Communlty Foundatlon {BBCFI In addition to the funds Ciao raised from the Green Hall Foundation Ciao also made an award lo the BBCF to fund the series of disability events lo help 350+ young people with profound physical and mental learning difficulties in the Bristol, Bath Somerset, and Gloucestershire area. GreenHall FOUNDATION Page 5
THE CIAO FOUNDATION CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 Rachel Moryan Rachel Morgan is the World No 1 Bl totally blind tennis player. There is no prize money in visually impaired tennis and limited support from the Tennis Association as blind tennis is not a Paralympic sport and funds are focussed on wheelchair tennis. Competing in events in the UK entails travel costs, hotel accommodation and coaching. The Ciao Foundation assessed and approved Rachel 's application for a Ciao Award and subsequently arranged funding for this award from 3 corporate donors. Strategy The ongoing strategy of the Trustees is as follows'.- Continue to promote Ciao lo encourage applications for Ciao Awards and to raise additional funds. Ciao lo continue to work alongside charitable organisalions such as BBCF including the Bristol Bears Disabled Rugby Club, Small Strides and The On Course Foundation Promoting corporate sponsorship lo join Amalgamated Berkshire who enter their fourth year of sponsorship and providing Continuity of income for the Ciao Foundation. Private donations lo be encouraged by monthly standing order amongst our supporters. Encouraging clubs like the Thames Dillon Lawn Tennis Club to raise funds to support our awards . Trustees lo promote business driven co-sponsorship donations through successful business advisoryl transaction business. Applying for donation from supporting charities and Trusts. We have applied lo be registered by the Fundraising Regulator. The organisalion of fundraising activities such as the Fundraising lunch for Sean Mccallion which will include In the next financial year The Ciao Golf Day rearranged to 251h July 2022 at the Army Golf Club. Good Govemance l Fundlng Ciao continue to give due regard to the 3rd edition of the Good Governan Code. As illustrated above Ciao continue lo work closely with other charities and progress fund raising activities as illustrated in this report. Page 6
THE CIAO FOUNDATION CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 Financial Review During the period lo 31 March 2022 donation income received lotalled £29,523. The charity pledged awards of £13,748 during the year to 31 March 2022 and will continue lo donate their funds in this way. Further financial information is available from the Trustees on request. The Foundations reserves carried forward of £94,285 are lo be used to fund awards in furtherance of the charitable objectives. It is the policy of the Trustees to continue to build reserves and use the funds to make donations for the for the charitable trust objectives. As such, the funds currently held are In line with the charity's reserve policy. Trustees. Responsibilities Statement The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the stale 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". select suitable accounting policies and then apply them consistently", observe the methods and principles in the Charities SORP FRS 102., make judgments and accounting estimates that are reasonable and prudent., follow applicable UK accounting standards and the Charities SORP FRS 102, disclosing and explaining any departures in the accounts., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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. This report was approved by the Trustees and signed on their behaw by.. Andrew Hogge Chairman of the Ciao Foundation Dale.. 22 November 2022 Page 7
THE CIAO FOUNDATION CIO INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CIAO FOUNDATION CIO {the 'Charity'l I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the Charity's Trustees those matters l am required lo slate to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body. for my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 Act'l. I report in respect of my examination of the Charity'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 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can 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.. awounling records were not kept in respect of the Charity as required by section 130 of the 2011 Art., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts sel OLJt in the Charities IAccoLJnls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf 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. Signed. LLL Fy Dated.. 25 November 2022 Lee Fa¢ey Independent Examiner LUBBOCK FINE LLP 65 Sl Paul's Churchyard London EC4M 8AB Page 8
THE CIAO FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Unrestrlcted funds 2022 Total funds 2022 Total funds 2021 Note INCOME FROM: Donations and legacies Interest receivable 29,523 15 29,523 15 33,304 44 TOTAL INCOME 29,538 29,538 33,348 EXPENDITURE ON: Charitable 8clivilies 37,542 37,542 42,430 TOTAL EXPENDITURE 37,542 37,542 42,430 NET EXPENDITURE BEFORE OTHER RECOGNISED GAINS AND LOSSES 18,0041 18,0041 18,0041 18,0041 19,0821 19,0821 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward 102,289 102,289 111,371 94,285 94,285 102,289 TOTAL FUNDS CARRIED FORWARD All activities relate to continuing operations. The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 1110 16 form part of these financial statements. Page 9
THE CIAO FOUNDATION CIO BALANCE SHEET AS AT31 MARCH 2022 2022 2021 Note CURRENT ASSETS Cash al bank and in han 94,670 102,674 CREDITORS: amounts falling due within one year 13851 13851 NET CURRENT ASSETS 94,285 102,289 NET ASSETS 94,285 102,289 CHARITY FUNDS Unrestricted funds 94,285 102,289 TOTAL FUNDS 94,285 102,289 The financial statements were approved by the Trustees on 22 November 20aAd signed on their behalf, by.. Ét Andrew Hogge Trustee Richard D. Brazler Trustee The notes on pages 1110 16 form part of these financial statements. Page 10
THE CIAO FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stsled In the relevant notes to these accounts. The financial stslements have been prepared in accordance wth the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 and Financial Reporting Standard applicable In the United Kingdom and Republic of Ireland IFRS 1021 and Charities Act 2011. The CIAO Foundation CIO conslitules a public benefit entity as defined by FRS 102. 1.2 Going concern There are no material uncertainties related to events or conditions that may cast significant doubl upon the charitls ability to continue as a going concern. In forming this assessment, the Trustees have taken Into account the Impact of COVID-19. 1.3 Fund accounting General funds are unreslricled funds which are available for use at the discretion of the Trustees In furtherance of the general objectives of the Charity and which have not been designated for other purposes. 1.4 Incomo All income is recognised once the Charity has entillemenl lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Gifts in kind donated for distribution are included al valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included al the value lo the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the Item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time of the Friends is not recognised and refer lo the Trustees, Report for more information about their contribution. On reipl, donated professional serviTrs and donated facilities are recognised on the basis of the value of the gift lo the Charity which is the amount the Charity would have been willing to pay lo obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Page 11
THE CIAO FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES (continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third paty, it is probable that a transfer of economic benefits will be required In settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs are allocated to the applicable expenditure headings and activities of the Charity. Charitable activity costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions allaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, but not accrued as expenditure. Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the g0Veman of the Charity apportioned lo charitable activities. 1.6 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required In selllemenl, and the amount of the settlement can be eslimaled reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has r1Ved as advanced payments for the goods or serviTrs Il musl provide. Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of money Is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised within interest payable and similar charges. 1.7 Cash at bank and in hand Cash at bank and in hand Includes cash and short term highly liquid investments with a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.8 Financial Instruments Financial instruments are classified and accounted for, according to the substance of the conlraclual arrangement, as either financial assets, financial liabilities or equity instruments. 1.9 Taxation The charity is a registered charity and based on the activities undertaken is not liable for UK corporation lax. The charity was not VAT registered during the year and therefore all expenses are inclusive of any VAT which cannot be fully recovered. Page 12
THE CIAO FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM DONATIONS AND LEGACIES Unrestricted funds 2022 Total funds 2022 Total funds 2021 Donations Gifts in Kind 27,523 2,000 27,523 2,000 31,304 2,000 Total donations and legacies 29,523 29,523 33,304 Total 2021 33,304 33,304 INCOME FROM CHARITABLE ACTIVITIES Unrestricted funds 2022 Total funds 2022 Total funds 2021 Interest receivable 15 15 44 Totsl 2021 44 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE Staff costs Other costs 2022 2022 Total 2022 Total 2021 Provision of Ciao Awards 18,000 19,542 37,542 42,430 Total 2021 18,000 24,430 42,430 Page 13
THE CIAO FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 DIRECT COSTS Advanceme- ntof education and training Total 2022 Total 2021 Awards granted 13,748 13,748 19,356 Totsl 2021 19,356 19,356 SUPPORT COSTS Total 2022 Total 2021 Activities Legal Fees Travel Website costs PR & Fundraising Accountancy fees Wages and salaries 30 101 1,765 1,898 2,000 18,000 30 101 1,765 1,898 2,000 18,000 30 2,440 604 2,000 18,000 23,794 23,794 23,074 Totsl 2021 23,074 23,074 During the year no Trustees received any remuneration, benefits in kind or reimbursement of expenses. Accountancy fees of £2,000 have been included as gifts in kind. STAFF COSTS Staff costs were as follows.. 2022 2021 Wages and salaries 18,000 18,000 The average number of persons employed by the Charity during the year was as follows.. 2022 No. 2021 No. Number of administrative staff No employee received remuneration amounting lo more than £60,000 in either year. Page 14
THE CIAO FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 CREDITORS: Amounts falling due within one year 2022 2021 Other taxation and social security 385 385 STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 March 2022 Balance at 1 April 2021 Incorne Expenditure Unrestricted funds General funds 102,289 29,538 137,5421 94,285 STATEMENT OF FUNDS- PRIOR YEAR Balance at 31 March 2021 Balance at 1 April 2020 Income Expenditure Unrestricted funds General funds 111,371 33,348 142,4301 102.289 Page 15
THE CIAO FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted funds 2022 Total funds 2022 Current assets Creditors due within one year 94,670 13851 94,670 13851 94,285 94,285 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2021 Total funds 2021 Current assets Creditors due within one year 102,674 13851 102,674 13851 102,289 102,289 11. RELATED PARTY TRANSACTIONS During the year Trustees and related parties donated £2,895 12021 unrestricted. £1,450), all of which was Page 16