REGISTERED COMPANY NUMBER: 08973699 (England and Wales) REGISTERED CHARITY NUMBER: 1166794
Trustees' Report and
Unaudited Financial Statements for the Year Ended 29 April 2022
for
The Lee Rigby Foundation Limited
Marshall Accountancy Ltd St Mary's House Crewe Road Alsager Stoke-On-Trent ST7 2EW
The Lee Rigby Foundation Limited
Contents of the Financial Statements for the Year Ended 29 April 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Trustees' Report | 2 | ||
| Independent Examiner's Report | 3 | to | 4 |
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 | to | 16 |
The Lee Rigby Foundation Limited
Reference and Administrative Details for the Year Ended 29 April 2022
TRUSTEES Mrs M Cullen (appointed 30/5/2021) Mrs D Molloy (appointed 30/5/2021) Mr G Hobson (appointed 8/3/2022) Mrs C A Valentine (resigned 20/9/2022) Mr J D Wall Ms S Scott (resigned 29/5/2021) Mrs L J Rigby (resigned 8/3/2022) Mr I Rigby (resigned 8/3/2022) REGISTERED OFFICE The Lodge Tean Road Cheadle Stoke-On-Trent ST10 1LG
REGISTERED COMPANY NUMBER 08973699 (England and Wales)
REGISTERED CHARITY NUMBER 1166794 INDEPENDENT EXAMINER Marshall Accountancy Ltd St Mary's House Crewe Road Alsager Stoke-On-Trent ST7 2EW
Page 1
The Lee Rigby Foundation Limited
Trustees' Report for the Year Ended 29 April 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 29 April 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To support persons suffering from bereavement or loss by providing counselling and other support. Relieving mental and physical distress and saving lives through contact, support and holistic alternative care by providing retreat and respite accommodation, and promoting activities proven to benefit health. Relieving poverty and hardship arising from bereavement with grants of money and necessary items.
Public benefit
The charity trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
ACHIEVEMENT AND PERFORMANCE
Although the charity continued to be hampered by the Covid restrictions during the year, the Foundation was successful in continuing to enhance its profile and fundraising structure as welll as making future plans for funding and growth.
FINANCIAL REVIEW
The Foundation had an excess of expenditure over income of £3,366 (2021 excess of expenditure over income of £7,834) and had unrestricted funds carried forward as at 29 April 2022 of £26,385 (2021 £29,751). All reserves of the Charity are unrestricted reserves and are used for the purposes of achieving the Charity's objectives and aims.
FUTURE PLANS
The Charity has plans to grow its activities and funding ability in order to meet its charitable objectives in the community it operates. During the year, the charity acquired a small holiday let to be used by the beneficiaries of the charity in accordance with the aims and objectives of the governing document. The Charity has started to receive bookings for this, in respect of future periods.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a private limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of one year after which they are eligible for re-election at the next Annual General Meeting.
INDEPENDENT EXAMINER
EE Marshall-Birks has been re-appointed as independent examiner for the ensuing year.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 13 February 2023 and signed on its behalf by:
Mrs M Cullen - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Lee Rigby Foundation Limited
Independent examiner's report to the trustees of The Lee Rigby Foundation Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 29 April 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
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Independent Examiner's Report to the Trustees of The Lee Rigby Foundation Limited
Independent examiner's statement - matters of concern identified
I have completed my examination.
The matter that has come to my attention is that in the course of examination of the accounting records of the Charity, together with discussions with the trustees of the charity, trustees have drawn remuneration totalling £34,800 during the year under review.
Although this remuneration has been drawn largely to cover expenses incurred by the two trustees in question (these trustees also having resigned during the years) this still represents a matter of material significance upon which I am required to report. In particular,
these payments suggest a lack of financial oversight arrangements and a failure of internal control, resulting in a significant loss of charitable funds.
The Charity's trustees have been made aware of this oversight and the importance of maintaining good financial governance arrangements
and the Charity Commission is fully aware of the situation and is working closely with the trustees and their advisors to resolve the situation.
As required, I have in addition separately reported this matter to the Charity Commission by email.
I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; and
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
E E Marshall-Birks FCA Marshall Accountancy Ltd St Mary's House Crewe Road Alsager Stoke-On-Trent ST7 2EW
13 February 2023
Page 4
The Lee Rigby Foundation Limited
Statement of Financial Activities for the Year Ended 29 April 2022
| Period | |||
|---|---|---|---|
| 1/5/20 | |||
| Year Ended | to | ||
| 29/4/22 | 29/4/21 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME FROM | |||
| Donations and fundraising activities | 44,296 | 20,008 | |
| Other income | 10,150 | 27,085 | |
| Total | 54,446 | 47,093 | |
| EXPENDITURE ON | |||
| Raising funds | 1,618 | 827 | |
| Charitable activities | 3 | ||
| Charitable activities | 56,194 | 54,100 | |
| Total | 57,812 | 54,927 | |
| NET INCOME/(EXPENDITURE) | (3,366) | (7,834) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 29,751 | 37,585 | |
| TOTAL FUNDS CARRIED FORWARD | 26,385 | 29,751 |
CONTINUING OPERATIONS
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes form part of these financial statements
Page 5
The Lee Rigby Foundation Limited
Statement of Financial Position 29 April 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 11,707 Investments 9 2 11,709 CURRENT ASSETS Stocks 10 885 Debtors 11 2,000 Cash at bank and in hand 27,354 30,239 CREDITORS Amounts falling due within one year 12 (15,563) NET CURRENT ASSETS 14,676 TOTAL ASSETS LESS CURRENT LIABILITIES 26,385 NET ASSETS 26,385 FUNDS 15 Unrestricted funds 26,385 TOTAL FUNDS 26,385 |
2021 Total funds £ 9,806 2 9,808 885 2,411 30,254 33,550 (13,607) 19,943 29,751 29,751 29,751 29,751 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
The Lee Rigby Foundation Limited
Statement of Financial Position - continued 29 April 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 13 February 2023 and were signed on its behalf by:
Mrs M Cullen - Trustee
Mr G Hobson - Trustee
The notes form part of these financial statements
Page 7
The Lee Rigby Foundation Limited
Notes to the Financial Statements for the Year Ended 29 April 2022
1. STATUTORY INFORMATION
The Lee Rigby Foundation is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.
The presentation and functional currency of the financial statements is the Pound Sterling (£)
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)'. The financial statements have been prepared on a going concern basis under the historical cost convention.The Covid-19 pandemic has adversely impacted on global and UK societies and economies, and this impact has continued into the 2021/2022 financial year. However in the directors' opinion there is no significant uncertainty as to the going concern basis..
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Caravan | - 15% on reducing balance |
|---|---|
| Fixtures and fittings | - 15% on reducing balance |
| Motor vehicles | - 25% on reducing balance |
| Computer equipment | - 33% on cost |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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The Lee Rigby Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 29 April 2022
3. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|
| Direct | |||
| Costs (see | Support | ||
| note 4) | costs | Totals | |
| £ | £ | £ | |
| Charitable activities | 15,880 | 40,314 | 56,194 |
4. DIRECT COSTS OF CHARITABLE ACTIVITIES
| DIRECT COSTS OF CHARITABLE ACTIVITIES | ||
|---|---|---|
| Period | ||
| 1/5/20 | ||
| Year Ended | to | |
| 29/4/22 | 29/4/21 | |
| £ | £ | |
| Insurance | 893 | 176 |
| Telephone | 1,018 | 969 |
| Sundries | 75 | - |
| Other establishment costs | 2,400 | 1,800 |
| Postage and stationery | 642 | 59 |
| Travel and motor expenses | 4,880 | 612 |
| Bank charges | 412 | 251 |
| Computer expenses | 24 | - |
| Caravan costs | 2,190 | - |
| Repairs and renewals | 247 | - |
| Depreciation | 3,099 | 5,435 |
| Loss on sale of assets | - | 4,456 |
| 15,880 | 13,758 |
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Period | ||
|---|---|---|
| 1/5/20 | ||
| Year Ended | to | |
| 29/4/22 | 29/4/21 | |
| £ | £ | |
| Depreciation - owned assets | 3,099 | 5,435 |
| Deficit on disposal of fixed assets | - | 4,456 |
| Independent examination fees | 800 | 800 |
continued...
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The Lee Rigby Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 29 April 2022
6. TRUSTEES' REMUNERATION AND BENEFITS
During the year Mrs L Rigby was remunerated at total of £17,400 on an employed basis as the Chief Executive Officer together with employer pension contributions of £335. Mr I Rigby was remunerated £17,400 on an employed basis as the Chief Executive Assistant together with employer pension contributions of £335.
Trustees' expenses
There were no trustees' expenses paid for the year ended 29 April 2022 nor for the period ended 29 April 2021.
7. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Period | ||
| 1/5/20 | ||
| Year Ended | to | |
| 29/4/22 | 29/4/21 | |
| £ | £ | |
| Wages and salaries | 34,800 | 34,800 |
| Other pension costs | 670 | 670 |
| 35,470 | 35,470 | |
| The average monthly number of employees during the year was as follows: | ||
| Period | ||
| 1/5/20 | ||
| Year Ended | to | |
| 29/4/22 | 29/4/21 | |
| Administration and fundraising | 2 | 2 |
No employees received emoluments in excess of £60,000.
8.
TANGIBLE FIXED ASSETS
| Fixtures and Motor Computer Caravan fittings vehicles equipment £ £ £ £ COST At 30 April 2021 - 1,986 11,693 1,223 Additions 5,000 - - - At 29 April 2022 5,000 1,986 11,693 1,223 DEPRECIATION At 30 April 2021 - 950 2,923 1,223 Charge for year 750 156 - 2,193 At 29 April 2022 750 1,106 2,923 3,416 NET BOOK VALUE At 29 April 2022 4,250 880 8,770 (2,193) At 29 April 2021 - 1,036 8,770 - |
Totals £ 14,902 5,000 |
|---|---|
| 19,902 | |
| 5,096 3,099 |
|
| 8,195 | |
| 11,707 | |
| 9,806 |
continued...
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The Lee Rigby Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 29 April 2022
9. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 30 April 2021 and 29 April 2022 | 2 |
| NET BOOK VALUE | |
| At 29 April 2022 | 2 |
| At 29 April 2021 | 2 |
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Drummer Trading Limited
Registered office: 13 Huddersfield Road, Barnsley, South Yorkshire, S70 2LW. Nature of business: Merchandise sales
10.
11.
| % Class of share: holding Ordinary 100 Aggregate capital and reserves (Loss)/profit for the period/year Drummer Trading has annual income of £1,459 (2020 £8,026). STOCKS Finished goods DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts owed by group undertakings Other debtors Prepayments |
29/4/21 £ 1,229 (7) 2022 £ 885 2022 £ - - 2,000 2,000 |
30/4/20 £ 1,236 313 2021 £ 885 2021 £ 91 2,320 - 2,411 |
|---|---|---|
continued...
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The Lee Rigby Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 29 April 2022
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|||
|---|---|---|---|
| Other loans (see note 13) Hire purchase (see note 14) Trade creditors Amounts owed to group undertakings Social security and other taxes Pension Fund Wage Control Accruals and deferred income 13. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 14. LEASING AGREEMENTS Minimum lease payments under hire purchase fall due as follows: Net obligations repayable: Within one year 15. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS |
2022 2021 £ £ 5,000 5,000 4,244 6,203 1,804 1,804 1,170 - 642 - 260 - (10) - 2,453 600 15,563 13,607 2022 2021 £ £ 5,000 5,000 2022 2021 £ £ 4,244 6,203 Net At movement At 30/4/21 in funds 29/4/22 £ £ £ 29,751 (3,366) 26,385 29,751 (3,366) 26,385 |
2021 £ 5,000 6,203 1,804 - - - - 600 |
|
| 13,607 | |||
| 2021 £ 5,000 |
|||
| 2021 £ 6,203 |
|||
| 26,385 |
continued...
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The Lee Rigby Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 29 April 2022
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,446 | (57,812) | (3,366) |
| TOTAL FUNDS | 54,446 | (57,812) | (3,366) |
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/5/20 | in funds | 29/4/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,585 | (7,834) | 29,751 |
| TOTAL FUNDS | 37,585 | (7,834) | 29,751 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 47,093 | (54,927) | (7,834) |
| TOTAL FUNDS | 47,093 | (54,927) | (7,834) |
16. RELATED PARTY DISCLOSURES
The related party disclosures are as follows;
Drummer Trading Ltd Co No 10821851 is a company wholly owned subsidiary and controlled by The Lee Rigby Foundation. As at the year end there was a balance of £(1,170) (2021 £91) due (to)/from Drummer Trading (from)/to The Lee Rigby Foundation.
continued...
Page 13
The Lee Rigby Foundation Limited
Notes to the Financial Statements - continued for the Year Ended 29 April 2022
17. SHARE CAPITAL
The company is limited by guarantee and therefore has no share capital.
Page 14
The Lee Rigby Foundation Limited
Detailed Statement of Financial Activities for the Year Ended 29 April 2022
| for the Year Ended | 29 April 2022 | ||
|---|---|---|---|
| Period | |||
| 1/5/20 | |||
| Year Ended | to | ||
| 29/4/22 | 29/4/21 | ||
| £ | £ | ||
| INCOME | |||
| Donations and fundraising activities | |||
| Donations and fundraising | 44,296 | 20,008 | |
| Other income | |||
| HMRC JRS Grants | 10,150 | 27,085 | |
| Total incoming resources | 54,446 | 47,093 | |
| EXPENDITURE | |||
| Raising donations and legacies | |||
| Fundraising activates and merchandise | 1,618 | 827 | |
| Charitable activities | |||
| Insurance | 893 | 176 | |
| Telephone | 1,018 | 969 | |
| Sundries | 75 | - | |
| Other establishment costs | 2,400 | 1,800 | |
| Postage and stationery | 642 | 59 | |
| Travel and motor expenses | 4,880 | 612 | |
| Bank charges | 412 | 251 | |
| Computer expenses | 24 | - | |
| Caravan costs | 2,190 | - | |
| Repairs and renewals | 247 | - | |
| Caravan | 750 | - | |
| Fixtures and fittings | 156 | 182 | |
| Motor vehicles | 2,193 | 5,042 | |
| Computer equipment | - | 211 | |
| Loss on sale of tangible fixed assets | - | 4,456 | |
| 15,880 | 13,758 | ||
| Support costs | |||
| Management | |||
| Trustees' salaries | 29,000 | 34,800 | |
| Wages | 5,800 | - | |
| Pensions | 670 | 670 | |
| 35,470 | 35,470 | ||
| Finance | |||
| Hire purchase | 392 | 719 |
This page does not form part of the statutory financial statements
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The Lee Rigby Foundation Limited
Detailed Statement of Financial Activities for the Year Ended 29 April 2022
| Period | ||
|---|---|---|
| 1/5/20 | ||
| Year Ended | to | |
| 29/4/22 | 29/4/21 | |
| £ | £ | |
| Finance | ||
| Information technology | ||
| Computer costs | 451 | 436 |
| Governance costs | ||
| Accountancy fees | 2,211 | 1,212 |
| Professional fees | 1,790 | 2,505 |
| 4,001 | 3,717 | |
| Total resources expended | 57,812 | 54,927 |
| Net expenditure | (3,366) | (7,834) |
This page does not form part of the statutory financial statements
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