REGISTERED COMPANY NUMBER: 09785652 (England and Wales) REGISTERED CHARITY NUMBER: 1167734
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 September 2021
for
The Deborah Rogers Foundation (A Company Limited by Guarantee)
DSJ Partners (UK) Limited 2nd Floor 1 Bell Street London NW1 5BY
The Deborah Rogers Foundation
Contents of the Financial Statements for the Year Ended 30 September 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
The Deborah Rogers Foundation
Reference and Administrative Details for the Year Ended 30 September 2021
| TRUSTEES | Lord Berkeley of Knighton |
|---|---|
| Ms G Coleridge | |
| Ms H T Eastwood | |
| Mr A C Franklin | |
| Ms D Irving | |
| Mr M Le Fanu | |
| Mr P Q Straus | |
| COMPANY SECRETARY | Ms N Bell |
| REGISTERED OFFICE | 20 Powis Mews |
| London | |
| W11 1JN | |
| REGISTERED COMPANY | 09785652 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1167734 |
| NUMBER | |
| INDEPENDENT EXAMINER | DSJ Partners (UK) Limited |
| 2nd Floor | |
| 1 Bell Street | |
| London | |
| NW1 5BY |
Page 1
The Deborah Rogers Foundation
Report of the Trustees for the Year Ended 30 September 2021
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 30 September 2021. 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
The objectives of the Foundation are that of advancement of education and training in publishing and literary agency and writing fiction and non-fiction; to support the development of emerging talent by supporting individuals through the awards of grants, internships and mentoring and promoting a love of literature.
The Foundation achieves the objectives by means of two biennial awards: The Writers Award which gives £10,000 to an unpublished writer to enable them to complete a first book, and The DRF David Miller Bursary which offers work placements in publishing houses worldwide together with £10,000 to help a young agent or publisher gain international work experience.
ACHIEVEMENT AND PERFORMANCE
The trustees are pleased to report that during the year the Foundation received donations of £26,188 (2020 : £35,500). There was no award during the year (2020: £10,000 Writers Award) as the award timing was postponed due to the pandemic. The Foundation will continue to follow its core objectives throughout the forthcoming years.
FINANCIAL REVIEW
The Foundation's affairs and activities for the year are presented in the attached financial statements which show an excess of income over expenditure of £47,026 (2020: £30,517). The balances of the unrestricted funds were £228,970 (2020: £181,944).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Deborah Rogers Foundation is a registered charity and is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a company limited by guarantee, as defined by the Companies Act 2006, which does not have a share capital. The directors therefore do not have any financial interest in the company nor are there any significant contracts in which they have a material interest.
INVESTMENT POLICY AND OBJECTIVES
Aside from retaining a prudent amount in reserves each year the trustees have decided to invest in COIF Charities Investment Fund.The trustees will continue to review their investment policies on a regular basis.
RESERVES POLICY
The policy of the trustees is to accumulate any surpluses for the time being so as to provide for any discontinuity in funding for both awards with a reserve of one year’s expenditure on the award of £10,000 and associated costs. The current reserves of £228,970 (2020: £181,944) are substantially above expenditure of £4,809 for the year (2020: £15,708).
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees (who are also the directors of The Deborah Rogers Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Page 2
The Deborah Rogers Foundation
Report of the Trustees for the Year Ended 30 September 2021
TRUSTEES' RESPONSIBILITY STATEMENT - continued
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 16 May 2022 and signed on its behalf by:
Ms N Bell - Secretary
Page 3
Independent Examiner's Report to the Trustees of The Deborah Rogers Foundation
Independent examiner's report to the trustees of The Deborah Rogers Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2021.
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.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 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 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; or
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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 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.
Bharat-Kumar Dhanani Chartered Accountants DSJ Partners (UK) Limited 2nd Floor 1 Bell Street London NW1 5BY
16 May 2022
Page 4
The Deborah Rogers Foundation
Statement of Financial Activities for the Year Ended 30 September 2021
----- Start of picture text -----
2021 2020
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 26,188 35,500
EXPENDITURE ON
Charitable activities
Award - 13,000
Governance 4,809 2,708
Total 4,809 15,708
Net gains on investments 25,647 10,725
NET INCOME 47,026 30,517
RECONCILIATION OF FUNDS
Total funds brought forward 181,944 151,427
TOTAL FUNDS CARRIED FORWARD 228,970 181,944
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The notes form part of these financial statements
Page 5
The Deborah Rogers Foundation
Balance Sheet 30 September 2021
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2021 2020
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Investments 4 184,734 159,087
CURRENT ASSETS
Debtors 5 88 100
Cash at bank 44,148 22,757
44,236 22,857
NET CURRENT ASSETS 44,236 22,857
TOTAL ASSETS LESS CURRENT
LIABILITIES 228,970 181,944
NET ASSETS 228,970 181,944
FUNDS 6
Unrestricted funds 228,970 181,944
TOTAL FUNDS 228,970 181,944
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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
continued...
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The Deborah Rogers Foundation
Balance Sheet - continued 30 September 2021
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 16 May 2022 and were signed on its behalf by:
Ms G Coleridge - Trustee
Mr P Q Straus - Trustee
The notes form part of these financial statements
Page 7
The Deborah Rogers Foundation
Notes to the Financial Statements for the Year Ended 30 September 2021
1. 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
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.
Investments
Investments held as fixed assets are revalued at market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2021 nor for the year ended 30 September 2020.
continued...
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The Deborah Rogers Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Award Governance |
Unrestricted fund £ 35,500 13,000 2,708 |
|---|---|
| Total Net gains on investments |
15,708 10,725 |
| NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
30,517 151,427 |
| TOTAL FUNDS CARRIED FORWARD | 181,944 |
| 4. FIXED ASSET INVESTMENTS MARKET VALUE At 1 October 2020 Revaluations |
Unlisted investments £ 159,087 25,647 |
| At 30 September 2021 | 184,734 |
| NET BOOK VALUE At 30 September 2021 |
184,734 |
| At 30 September 2020 | 159,087 |
| There were no investment assets outside the UK. Cost or valuation at 30 September 2021 is represented by: Valuation in 2021 |
Unlisted investments £ 184,734 |
continued...
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The Deborah Rogers Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 6. MOVEMENT IN FUNDS At 1.10.20 £ Unrestricted funds General fund 181,944 TOTAL FUNDS 181,944 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 26,188 (4,809) TOTAL FUNDS 26,188 (4,809) Comparatives for movement in funds At 1.10.19 £ Unrestricted funds General fund 151,427 TOTAL FUNDS 151,427 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 35,500 (15,708) TOTAL FUNDS 35,500 (15,708) |
2021 2020 £ £ 88 100 Net movement At in funds 30.9.21 £ £ 47,026 228,970 47,026 228,970 Gains and Movement losses in funds £ £ 25,647 47,026 25,647 47,026 Net movement At in funds 30.9.20 £ £ 30,517 181,944 30,517 181,944 Gains and Movement losses in funds £ £ 10,725 30,517 10,725 30,517 |
|---|---|
continued...
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The Deborah Rogers Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.10.19 £ 151,427 151,427 |
Net movement in funds £ 77,543 77,543 |
At 30.9.21 £ 228,970 228,970 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources Gains and resources expended losses £ £ £ 61,688 (20,517) 36,372 |
Movement in funds £ 77,543 |
|---|---|---|
| TOTAL FUNDS | 61,688 (20,517) 36,372 |
77,543 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2021.
Page 11
The Deborah Rogers Foundation
Detailed Statement of Financial Activities for the Year Ended 30 September 2021
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2021 2020
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 26,100 35,400
Gift aid 88 100
26,188 35,500
Total incoming resources 26,188 35,500
EXPENDITURE
Charitable activities
Postage, stationery & website 1,918 1,364
Sundries 2,891 1,344
Award - 10,000
Governance costs towards the award - 3,000
4,809 15,708
Total resources expended 4,809 15,708
Net income before gains and losses 21,379 19,792
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments 25,647 10,725
Net income 47,026 30,517
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This page does not form part of the statutory financial statements
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