THE BLANCHE SARGEAUNT FOUNDATION UNAUDITED FINANCIAL STATEMENTS For the year ended 12 November 2022 Charity Number: 1165726
THE 8LANCHE SARGEAUNT FOUNDATION TRUSTEES. REPORT The Trustees present their annual report and financial statements of the charity for the year ended 12 November 2022. The financial statements have been prepared in accordance with the accounting policies Set out in note 110 the financial statements and comply with the Charity's tnjst deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Pra¢tice (second edition) and Financial Reporting Standard FRS 102. Structure, governance and management The Foundation is a registered charity, number 165726, and was Created as a result of a Deed of Variation to the wll of Blanche Sargeaunt dated 12 November 2015. The Foundation does not actwely fundraise and seeks to continue the ¢haritable work desired by the donor through the careful stewardship of its existing resources. Trustees are appointed by the current Board of Trustees. Reference and admlnlstratlve informatlon Charlty number: 165726 Trustees P D Eales J Woodings R H Anning H J Mistry Address 22 Norton Leys, Rugby, Warwickshire, CV22 5RJ Bankers Barclays Bank plc. Bishop Meadow Road, Loughborough, LE115RE Accountants Evolve Ac¢ounts and Business Advisors Limited, Unit 10 Phoenix Park. Way, Coalville, LE67 3HB Objectives and activlties for the public benefrt The Foundation's objective is to provide financial assistance to those living in Leicestershire and Warwickshire {or within a 10 mil& radius of those County boundaries) who are in need of financial assistance to meet the cost of their home Care needs. The trustees confirm that they have referred to the Charty Commission's guidance on public benefil when reviewing the Foundation's aims and objectives, in planning future activities and settling the grant making policy for the year. The Foundation fijrthers its charitable purposes for the public benefit through its grant making policy which aims at providing financial assi5tan¢e to those people in need of help to meet the cost of their home care needs. The Foundation was created as a result of a Deed of Variation to the will of Blanche Sargeaunt dated 12 November 2015 and was registered by the Charity Commission on 24 February 2016.
THE BLANCHE SARGEAUNT FOUNDATION TRUSTEES, REPORT (continued) Grant maklng policy The Foundation has established its grant making policy to achieve its objects for the public benefit. The Foundation aims to provide finanGiaS assistance to those people in need of help lo meet the cost of their home care needs. Since its regislrafion as a Charty the Foundation has attempted to raise awareness within the area in which rt operates of the availabilty of funds for grants via articles in local newspapers and magazines. Financial review The Foundation's work is entirely reliant upon its endowment and income therefrom. Further donations lot811ing £285,069 were received in the year and investment income received amounted to £5,801. Grants tolalling £140,543 were paid out to assist the recipients with the cost of their home care needs. The value of the investments had decreased by £60,001. ReseNes The trustees have determined that the appropriate level of free reserves which are not invested in fixed asset investments should be the equivalent of a year's expenditure. As can be seen from this year's accounts Ihe level of free reseNes being held is more than sufficient to cover that. The Trustees are continuing to explore ways of utilising the excess free reseNes within the Charity's objectives. Plans for the future The Foundation will continue to publicise its existence and make potential ber)eficiaries awafe of the availability of funds. Trustees, responsibilities in relatlon to the finan¢lal statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (Untted Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare fi'nancial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resourtss and application of resources, of the charity for that period. In preparing the financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently.. • observe the methods and principles in the applicable Charities SORP., make judgements and estimates that are reasonable 2nd pnjdent.,
THE BLANCHE SARGEAUNT FOUNDATION TRUSTEES, REPORT {contlnued} Trusteeg, responsibilities in relation to the financial Statements Icontlnued) state whether applicable accounting standards have been followed, subject lo any material departures that must be disclosed and explained in the financial statements., prepare the financial statements on the going conrn basis unless 5t is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Charities {Accounls and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of Ihe charity and taking reasonable steps for the prevention and detection of fraud and other ifregularities. Approved by the trustees on 8 February 2023 and signed on their behalf by.. P D EALES TRUSTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BLANCHE SARGEAUNT FOUNDATION I report on the accounts of the charity for the year ended 12 November 2022, which are sel out on pages 5 to 9. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility lo.. examine the accounts under section 145 of the Charities Act. to follow the procedure5 laid down in the general Directions given by the Charrty Commission under section 14515)Ib} of the Charities Act.. and to state whether particular matters have come to my attention. Basls of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examlner's ststement In connection with my examination, no matter ha5 come to my attention.. 1) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with Ihe accounting records and comply with the accounting requirements of the Charities Act have nol been met,. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr J Nixon FCCA Evolve Accountants and Buslnesg Advlsors Ltd Unit 10 Phoenlx Park Telford Way Coalville Leicestershir? LE67 3HB 8 February 2023
THE BLANCHE SARGEAUNT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 12 NOVEMBER 2022 Endowment Funds Total Funds 20 Total Fund$ 2021 Note Income and Endowments Donations Investment income Total Income 285,069 5,801 290,870 285,069 5,801 290,870 150,000 6,467 156,487 Expenditure Investment management costs Charitable a¢tNities Governance costs Total Expenditure 4,630 167,609 624 172 863 4,630 167,609 624 172863 2,837 120,149 3,513 126,499 Net outgoings before Iloss)Igain on investments 118,007 118.007 29,968 Nel (loss)Igain on investments 60.001 60,001 35,066 Net movement In funds 58,006 58,006 65.034 Total funds brought for•vard 292,269 292,269 227,235 Total funds carrled forward 350,275 350,275 292,269
THE BLANCHE SARGEAUNT FOUNDATION BALANCE SHEET AS AT 12 NOVEMBER 2022 Endowment Funds Total Funds Total Funds Fixed asset investments 305,439 305,439 239,539 Current assets Debtors Bank Woodgate Financial Planning Ltd account 9,340 21,073 15,047 45,460 9.340 21,073 15,047 45,460 8.552 35,105 9,673 53,330 Current liabS1itles Creditors anij accruals 624 624 600 Net current assets 44,836 44,836 52,730 Net assets 350,275 350,275 292,269 The funds of the charity Endowment funds Expend8ble endowment 350 275 350,275 292.269 Total charlty funds 350,275 350,275 292 269 The notes on pages 7 10 9 form part of these accounts Approved by the trustees on 8 February 2023 and signed on their behalf by.. P D EALES TRUSTEE
THE BLANCHE SARGEAUNT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES Basis of preparation and assessment of going eon¢ern The financial statements have been prepared under the historical cost convention as modified by the revaluation of investments and in accordance with the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Pracli¢e (second edition) and Financial Reporting Standard FRS 102. The Foundation constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the Foundation's ability to continue as a going concem. With respect to the next reporting period, 2022123, the most significant areas of uncertainty that affect the carying value of assets held by the Foundation are the level of investment retum and the performance of investment markets. Funds structure The Foundation has a single permanent endowment. The trustees have the discretion lo apply the income and such parts of the capital as they think fit in meeting Ihe Foundation's objeclives. Income recognition All income is recognised once the Foundation has entitlement to the income, it is probable Ihal the income will be received and the amount of the income receivable can be measured reliably. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that sewement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an a¢cruals basis. Fixed asset investments Investments are 8 form of basic financial instrument and are initially recognised al their transaction value and subsequently measured al their fair value as at the balance sheet date using the quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals during the year. The main forni of financial risk faced by the Foundation is that of volatility in equity markets and investment markets due to wider economic eondrtions, the attitude of investors to investment risk, and Changes in *nliment concerning equities and within particular sectors or sub sectors.
THE BLANCHE SARGEAUNT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {conllnuedl Investment gains and losses All gains and losses are taken lo the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the differen between sales proceeds and their Opening carrying value or their purchase price if acquired during the year. Unrealised gains and losses are calculated as the difference beeen the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. TRUSTEES REMUNERATION AND EXPENSES The trustees all give freely their time and expertise without any fomi of remuneration. No expenses were paid to the trustees in the year. INVESTMENT INCOME 2022 2021 Dividends received Interest received 5,779 22 5,801 6,459 6,467 INVESTMENT MANAGEMENT COSTS 2022 2021 Investment management fees 4,630 2.837 CHARITABLE ACTIVITIES EXPENDITURE 2022 2021 Care costs Publicity and website costs 140,543 27,066 167,609 109,895 10,254 120,149 GOVERNANCE EXPENDITURE 2022 2021 Accountancy fees Legal fees 624 600 2,913 3,513 624
THE BLANCHE SARGEAUNT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS IcontiTruedl FIXED ASSET INVESTMENTS 2022 2021 Market value at 13 November 2021 Additions in year 21 cost Disposals in year al carrying value Net (loss)Igain on investment Market value at 12 November 2022 239,539 159,143 (33,242) 160,001) 305,439 204,473 35,066 239,539