Trustees’ Annual Report for the period
From April 2023 Period start date To March 2024 Period end date
Charity name: the7stars foundation
Charity registration number: 1168240
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance in life and relieve the needs and suffering of children, in such ways as the trustees may from time to time think fit including but not by way of limitation through the provision of grant funding to charities and other organisations workingin this field. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The7stars foundation is a grant making organisation, vulnerable benefitting children and young people across the United Kingdom |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Additional information (optional)
You may choose to include further statements where relevant about:
| SORP reference | |
|---|---|
| Para 1.38 | |
| Policy on grant making | |
| Para 1.38 | |
| Policy on social investment | |
| including program related | |
| investment | |
| Para 1.38 | |
| Contribution made by | |
| volunteers |
Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | This year we have continued to award funding through our three grant programmes, funding for projects charities wish to deliver; funding for items which alleviate worry and stress or promote happiness for the young people we prioritise (for example wellbeing journals); and funding directly offered to children represented by a safeguarding professionals (for example counselling sessions or equine therapy). We have also launched our ‘Social Impact fund’ which awards funding to charities aligned to ‘awareness day’ (for example, human rights day) across the annual calendar. The awareness days supported are relevant to the funding focus of the foundation. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | Yes |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The foundation aims to hold reserves of at least 15% of income received (as a minimum) to support sustainable grant giving and to ensure no grant pledges are unfulfilled. |
| Amount of reserves held | Para 1.22 | £45,000 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional) You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution Document |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees to date have been selected due to their vision and values and their commitment to furthering the objectives of the foundation across the north west. The trustees will actively recruit for further trustees in the future, when appropriate – this will be achieved via an online recruitment process and in-post trustees will have a vote of equal value relating to the recruitment. |
| Additional information (optional) You may choose to include further statements |
where relevant about: | |
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | The7stars foundation |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1168240 |
| Charity’s principal address | Floor 6-9, Bush House - North West Wing, 57 Aldwych, London WC2B 4PJ |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|---|
| Jennifer Biggam | ||||
| Anuschka Clarke | ||||
| Liam Mullins | ||||
| Nicholas Maddison | ||||
| Helen Rose | ||||
| Rhiannon Murphy | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Alexandra Taliadoros
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
Alexandra Taliadoros | |
|---|---|---|
| Alexandra Taliadoros | ||
Foundation Director |
||
| 08-01-2025 | ||
| 08-01-2025 |
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2DD9FCBD3AC the7stars Foundation Registered Charity No. 1168240 Trustees, report and financial statements for the year ended 31 March 2024
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Contents Page number Charity Information Report of the Trustees & Directors Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-11
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Charity Information Board of Trustees: Anuschka Clarke (Chair) Jenny Biggam Liam Mullins Nick Maddison Rhiannon Murphy Helen Rose Registered Office: 6-9 Bush House North West Wing 57 Aldwych London WC2B 4PJ Independent Examiner: Moore Kingston Smrth LLP 9 Appold Street London EC2A 2AP Bankers: Barclays Bank PLC Leicestershire LE87 2BB Charity number: 1168240
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Trustees. Annual Report for the year ended 31 March 2024 The Trustees present their report and financial statements of the charity for the year ended 31st March 2024. The Trustees have adopted the provisions of Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Trustees of the Charity The trustees who have served during the year and since the year end Vre as follows- Anuschka Clarke (Chair) Jenny Biggam Liam Mullins Nick Maddison Rhiannon Murphy Helen Rose Objectives and activities To relieve the needs and suffering of children aged 16 years old and under, in particular those whose challenge is caused by homelessness, addiction, abuse or who may be caring for sick or disabled adults. Foundation Statement the7stars set up its Foundation in 2016 as a Registered Charity to support under-privileged young people in the UK. The Foundation is primarily funded via the7stars profrts, with additional funding via events and fundraising. We award grants to children and causes supporting young people challenged by, abuse, addiction, homelessness or those who are young carers to a loved one. The Foundation is strategically aligned with the7stars and a major pillar in the7stars giving back" programme. All Trustees are Directors at the7stsrs. The7stars agency are engaged with the Foundation on a regular basis. with the Foundation circulating updates regarding new grant partners after each round, as well as the agency team volunteering with the Foundation as part of its grant monitoring and reporting procedure. Here. agency members are matched with a grantee, and either visit the charity or complete a telephone interview of how the grant received by the Foundation has achieved impact. One of Ihe agency volunteers reported: 'I've heard some heatharming stories of the delight kids have had from just getting a jacket and families that had been rotating which of their children goes to school, due to only having clothes for one at a time. It really made me appreciate my privilege." We have four grant programmes.. 1. Our project grant programme offers funding to charities to deliver a project which will support the young people we prioritise to fulfil their potential, promote happiness and enhance their wellbeing. For example, through our last grant round we provided funding to Eva Women's Aid to extend the salary of a specialist counsellor so they were able to offer more sessions to young people surviving abuse. 2. Our shine bright grants fund charities to purchase educational or recreational items (such as books, wellbeing journals, stress packs, arts and crafts for creative play therapy etc.) which will help young people reduce stress and feel happier and more secure. This programme focuses on alleviating the difficulties faced by children and young people from the cost of living crisis. For example, through our last grant round we provided funding to a food bank in Lewisham to provide uniform rtems and educational resources to children identified as young carers.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Trustees. Annual Report for the year ended 31 March 2024 3. Our third programme offers grants to safeguarding professionals (such as social workers, lawyers, school outreach officers) representing a young person in the care or legal system. in need of some extra help. Our grants will pay for an activity or item the young person needs to further their potential or opportunity, where other routes of funding are not available. For example, through our last grant round, we provided funding for a mother who had been rehoused following domestic abuse with her two children. The housing they had been given was too far away from the school they attended. and with little public transport, the mother and children had lo walk miles each day to attend the school. Our funding has supported the family access private transport to ensure the children can attend their educational provision reliably. 4. Our fourth programme is a social justice fund. This fund is slightly different to our other programmes. We offer grants to charities across the calendar year, aligned to social justice calendar awareness days (such as World Homeless Day}. Successful grantees are selected by the7stars agency team members, voting on which charity to be awarded. Through this fund we have supported The Separated Child Foundation, for Human Rights Day (December), The Stephen Lawrence Day Foundation. for Race Equality Week (February), Createl Arts, for Young Carers Action Day (February) and the Lucy Faithful Foundation for Child Sexual Exploitation Awareness Day {March). Public benefit statement the7stars Foundation has run a successful grant programme along the theme 'homelessness', 'addiction', 'abuse' and 'child carers,. The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. Achievement and Performance This year we have continued to award funding through our three grant programmes, funding for projects charities wish to deliver., funding for items which alleviate worry and stress or promote happiness for the young people we prioritise (for example wellbeing journals)., and funding directly offered to children represented by a safeguarding professionals (for example counselling sessions or equine therapy). We have also launched our 'Social Impact fund, which awards funding to charities aligned to'awareness day, (for example, human rights dayl across the annual calendar. The awareness days supported are relevant to the funding focus of the Foundation. Financial Review (including reserves policy) A contingency balance of £392,402 has been held. Part allocated to covering costs and the rest to grants. An annual contingency fund of at least £50,000 is confirmed, to ensure the running costs of the Foundation are covered. Plan for Future Periods The plan is to continue awarding grants to provide relief regarding abuse of young people aged 16 years and under. Structure, governance and management The charity is a Charitable Incorporated Organisation registered on 15 July 2016. It is governed by its constitution. Appointment of Trustees Apart from the first charity Truslees, every Trustee must be appointed by a resolution passed at a properly convened meeting of the charity Trustees. In selecting individuals for appointment as charity Trustees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
the7stars Foundation Trustees. Annual Report for the year ended 31 March 2024 Rlsk Management The charity is exposed to operatFonal and financial risks as a result of its operath'ng activikn'es. To mitigate those risks a system of intemal controls has been implemented that is designed lo provid8 reasonab16 (although not absolute) assurance against matèrial misslatsment. Trustees. Respon51biliil The Trustees are respcmsible for preparing the Tru*ees' Rewt and the financial statements in accordance with applicable law and United Accounting standards (United Kingdom Generally A¢¢epted Ac¢ountin9 Practice). The law applicable to charities in England & Wales requires fhe Trustees to pr8pare financial ststements for each fin8nclal year which give a true and fair vièw of the stste of the affairs of th8 charity and of th6 incoming resources and application of resources of the charty for that period. In preparing these financial ststements, ihe trustees are required to.. select suitable accounting policies and Ihen apply thern consistenly- observe the methods and principles in the Charities SORP (FRS102}: make judgements and ests'mates that are reasonable and prudent. stale whether applicable UK Accounting Slandards have been followed. subject to any material departures disclosed and expl8lned in the linancial slalements; prepare the financial slalemenls on the going concem basis unless il is inappropriale to presume that the ch8rily will contlnue in operation. The Trustees are responsible lor keeping proper accounting Tecords that disclose with reasonab16 accuracy at any time the financial position of the charity and enable Ih&m lo ensure that the financial stalemenls comply with the Charities Act 2011, the Charities (Accounts and Reporls) Regulation 2008 and the provisions of the trust deed. They are also responsible for safeguarding ihe assets of the charity and hence for teking reasonable steps for the prevèntKJn arKI detects'on of fraud and other irregularities. On behalf of the Board Jenny Bigg8m Trustee
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Independent Examiner's Report to the Trustees of the7stars Foundation I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Res onsibilities and basis of re ort As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charits'es 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}Ib) of the Act. Independent examiner's statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the ICAEW which is one of the listed bodies. 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.. 1. accounting records were not kept in respect of the Company as required by section 130 of the Act,. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in 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 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. N,- Li•ux QEkn LLP Adam Fullerton (FCA DChA) For and On Behalf of Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Date.. 9 December 2024
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Statement of Financial Activities for the year ended 31 March 2024 Restricted Funds Year ended 2024 Unrestricted Funds Year ended 2024 Total Year ended 2024 Total Year ended 2023 Note Income Incoming resources from Generated funds - Investment income 9,979 9,979 588 Charltable actlvtles - Grants, Donation, etc 270,177 270,177 276,582 Total 280,156 280,156 277,170 Expendlture on: Raising funds 33,504 33,504 83,731 Charitable activities 121,592 121,592 57,064 Total resources expended 155,096 155,096 140,795 Net income 125,060 125,060 136,375 Net movement in funds 125,060 125,060 136,375 Total funds brought fonward 483,259 483,259 346,884 Total funds carried forward 9,10 608,319 608,319 483,259
the7stars Foundation Balance Sheet At 31 March 2024 Note 2024 2024 2023 2023 CURRENT ASSErs: Debtors Cash at bank and in hand 568,796 188.825 611.199 48S,659 CREDITORS: Amounts falling due within one sear 2.880 2.400 Net Current Assets 608.319 483 259 Net Assets 608 319 483 259 Funds Unrestricted Funds Restricted FurKJ8 608,319 483,259 10 483 269 For the year ended 31 March 2024 the chrtY was entitled to exemptlon frn audit under Charities Act The financial ststements were approved by the Trustees on 25 .11.1 l+ and we Signed on their behalf by: Trustee: Je ny Biggam
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Notes to the Financial Statements for the year ended 31 March 2024 Accounting Policies Charity information the7stars Foundation is a charitsble incorporated organisation and registered in England and Wales. The registered office is 6-9 Bush House, North West Wing, 57 Alowch, London, WC2B 4PJ. Basls of preparatlon The financial statements have been prepared in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORPI and the Charities Act 2011. The financial statements are prepared in sterling, vthich is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. Golng concern The Trustees have assessed whether the use of the going concem basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concem. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statemenls. After making enquiries the Trustees have concluded that there is a reasonable expectation that the charitable entity has adequate resources to continue in operational existence for the foreseeable future, and there are no material uncertainties affecting this assumption. The charity therefore continues to adopt the going concern basis in preparing its financial statements. Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those Conditions is within the control of the charity and it is probable they will be fulfilled. Expendlture Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charily to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs which include governance costs. are allocated to charitable activities in the statement of financial activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practi5, and these costs are included within support costs. Grants are fully accounted for in the year the grant is approved and notified to the beneficiary. Payments falling due in later years are provided for as a liability on the balance sheet.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Notes to the Financial Statements for the year ended 31 March 2024 Accounting Policies {continued) Allocatlon of support costs Support costs are those functions that assist the work of the charity, but do not directly undertake charitable activities. Support costs include office costs. governance costs and other administrative costs. Where support costs cannot be directly attribuled lo particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. Flnanclal Instruments Debtors and creditors receivable or payable within one year of the reporting date are carried initially at their transaction price and subsequently at settlement value. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected fLrture receipts or payment discounted at a market rate of interest. Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments valued at the amount prepaid after taking account of any trade discounts due. Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and Ihe amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised al Iheir settlement amount after allowing for any trade discounts due. Fund accountlng Unrestricted funds are general funds that are available for the use at the trustees, discretion in furtherance of the objectives of the charity. Restricted funds are subject to specific conditions by donors as to how they may be used. The charity currently has no restricted funds. Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The charity currently has no designated funds. Critical Accounting Judgements and Estimates In application of the Charity's accounting policies, the board is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future penods if the revision affects both current and future periods. There are no estimates and assumptions which are believed to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in the current or prior period.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2DD9FCBD3AC the7stars Foundation Notes to the Financial Ststements for the year ended 31 March 2024 TOTAL RESOURCES EXPENDED Restricted Unrestricted 2024 2024 Totsl 2024 Totsl 2023 Charitable Activities Donations and grants - activities for young children 75,705 75,705 75,705 75,705 29,523 29,523 Governance and Admlnlstratlon Accountancy fees Administration Bank charges 3,360 42,081 3,360 42.081 3,514 24,009 18 45,887 45.887 27,541 Total Resources Expended on Charftable Actlvllles 121,592 121,592 57,064 The main functional activity of the Charity during the year was to relieve Ihe needs and suffering of children aged 16 years and under in particulars those who face challenges caused by homelessness, addiction, abuse, or who may be caring for a sick or disabled adult. Average number of employees in the cUrnt and prior year was nil. Work is done by Trustees and Volunteers. No employees received emolumenls of £60,000. The Charity did not have any paid employees during the year. The Trustees worked on a voluntary basis and received no remuneration. 3 TAXATION No liability to UK Corporation Tax arose on ordinary actNities for the year ended 31st March 2024. 4 TRUSTEES The Charty paid no emoluments to the Trustees during the year (2023.. £nil). 5 INDEPENDENT EXAMINERS REMUNERATION The Independent Examiner's remuneration amounts to a fee of £2.880 {2023.' £2,400). 6 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrued income & prepayments Other debtors 218,796 350,000 188,825 568,796 188,825 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 2,880 2,400 2,880 2,400 10
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2DD9FCBD3AC the7stars Foundation Notes to the Financial Ststements for the year ended 31 March 2024 8 CHARITY STATUS The Charity is registered as a Charitable Incorporaled Organisation. It is a registered Charity Ino. 1168240). 9 UNRESTRICTED FUNDS Current year Balance 0110412023 Movement In Year Balance 3110312024 Unrestricted funds Total 483.259 483,259 125,060 125,060 608,319 608,319 Prior year Balance 0110412022 Movement In Year Balance 3110312023 Unrestricted funds Total 346,884 346,884 136,375 136,375 483,259 483,259 10 RESTRICTED FUNDS The Charrty has no restricted funds. 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Current year Net Current Assets Totsl Unrestricted funds 608,319 608,319 608,319 608,319 Prlor yèar Not Current Assets Total Unrestricted funds 483,259 483.259 483,259 483,259 12 RELATED PARTY DISCLOSURE The Charity is controlled by the Trustees and there is a dose relationship with the7stars UK Limited, a company incorporated in England. During ihe year the company donated £218,712O23= £188,825) to the Charity- At the year-end the charity was owed £350,00012023'. £nil) by the company.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2DD9FCBD3AC the7stars Foundation Registered Charity No. 1168240 Trustees, report and financial statements for the year ended 31 March 2024
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Contents Page number Charity Information Report of the Trustees & Directors Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-11
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Charity Information Board of Trustees: Anuschka Clarke (Chair) Jenny Biggam Liam Mullins Nick Maddison Rhiannon Murphy Helen Rose Registered Office: 6-9 Bush House North West Wing 57 Aldwych London WC2B 4PJ Independent Examiner: Moore Kingston Smrth LLP 9 Appold Street London EC2A 2AP Bankers: Barclays Bank PLC Leicestershire LE87 2BB Charity number: 1168240
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Trustees. Annual Report for the year ended 31 March 2024 The Trustees present their report and financial statements of the charity for the year ended 31st March 2024. The Trustees have adopted the provisions of Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Trustees of the Charity The trustees who have served during the year and since the year end Vre as follows- Anuschka Clarke (Chair) Jenny Biggam Liam Mullins Nick Maddison Rhiannon Murphy Helen Rose Objectives and activities To relieve the needs and suffering of children aged 16 years old and under, in particular those whose challenge is caused by homelessness, addiction, abuse or who may be caring for sick or disabled adults. Foundation Statement the7stars set up its Foundation in 2016 as a Registered Charity to support under-privileged young people in the UK. The Foundation is primarily funded via the7stars profrts, with additional funding via events and fundraising. We award grants to children and causes supporting young people challenged by, abuse, addiction, homelessness or those who are young carers to a loved one. The Foundation is strategically aligned with the7stars and a major pillar in the7stars giving back" programme. All Trustees are Directors at the7stsrs. The7stars agency are engaged with the Foundation on a regular basis. with the Foundation circulating updates regarding new grant partners after each round, as well as the agency team volunteering with the Foundation as part of its grant monitoring and reporting procedure. Here. agency members are matched with a grantee, and either visit the charity or complete a telephone interview of how the grant received by the Foundation has achieved impact. One of Ihe agency volunteers reported: 'I've heard some heatharming stories of the delight kids have had from just getting a jacket and families that had been rotating which of their children goes to school, due to only having clothes for one at a time. It really made me appreciate my privilege." We have four grant programmes.. 1. Our project grant programme offers funding to charities to deliver a project which will support the young people we prioritise to fulfil their potential, promote happiness and enhance their wellbeing. For example, through our last grant round we provided funding to Eva Women's Aid to extend the salary of a specialist counsellor so they were able to offer more sessions to young people surviving abuse. 2. Our shine bright grants fund charities to purchase educational or recreational items (such as books, wellbeing journals, stress packs, arts and crafts for creative play therapy etc.) which will help young people reduce stress and feel happier and more secure. This programme focuses on alleviating the difficulties faced by children and young people from the cost of living crisis. For example, through our last grant round we provided funding to a food bank in Lewisham to provide uniform rtems and educational resources to children identified as young carers.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Trustees. Annual Report for the year ended 31 March 2024 3. Our third programme offers grants to safeguarding professionals (such as social workers, lawyers, school outreach officers) representing a young person in the care or legal system. in need of some extra help. Our grants will pay for an activity or item the young person needs to further their potential or opportunity, where other routes of funding are not available. For example, through our last grant round, we provided funding for a mother who had been rehoused following domestic abuse with her two children. The housing they had been given was too far away from the school they attended. and with little public transport, the mother and children had lo walk miles each day to attend the school. Our funding has supported the family access private transport to ensure the children can attend their educational provision reliably. 4. Our fourth programme is a social justice fund. This fund is slightly different to our other programmes. We offer grants to charities across the calendar year, aligned to social justice calendar awareness days (such as World Homeless Day}. Successful grantees are selected by the7stars agency team members, voting on which charity to be awarded. Through this fund we have supported The Separated Child Foundation, for Human Rights Day (December), The Stephen Lawrence Day Foundation. for Race Equality Week (February), Createl Arts, for Young Carers Action Day (February) and the Lucy Faithful Foundation for Child Sexual Exploitation Awareness Day {March). Public benefit statement the7stars Foundation has run a successful grant programme along the theme 'homelessness', 'addiction', 'abuse' and 'child carers,. The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. Achievement and Performance This year we have continued to award funding through our three grant programmes, funding for projects charities wish to deliver., funding for items which alleviate worry and stress or promote happiness for the young people we prioritise (for example wellbeing journals)., and funding directly offered to children represented by a safeguarding professionals (for example counselling sessions or equine therapy). We have also launched our 'Social Impact fund, which awards funding to charities aligned to'awareness day, (for example, human rights dayl across the annual calendar. The awareness days supported are relevant to the funding focus of the Foundation. Financial Review (including reserves policy) A contingency balance of £392,402 has been held. Part allocated to covering costs and the rest to grants. An annual contingency fund of at least £50,000 is confirmed, to ensure the running costs of the Foundation are covered. Plan for Future Periods The plan is to continue awarding grants to provide relief regarding abuse of young people aged 16 years and under. Structure, governance and management The charity is a Charitable Incorporated Organisation registered on 15 July 2016. It is governed by its constitution. Appointment of Trustees Apart from the first charity Truslees, every Trustee must be appointed by a resolution passed at a properly convened meeting of the charity Trustees. In selecting individuals for appointment as charity Trustees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
the7stars Foundation Trustees. Annual Report for the year ended 31 March 2024 Rlsk Management The charity is exposed to operatFonal and financial risks as a result of its operath'ng activikn'es. To mitigate those risks a system of intemal controls has been implemented that is designed lo provid8 reasonab16 (although not absolute) assurance against matèrial misslatsment. Trustees. Respon51biliil The Trustees are respcmsible for preparing the Tru*ees' Rewt and the financial statements in accordance with applicable law and United Accounting standards (United Kingdom Generally A¢¢epted Ac¢ountin9 Practice). The law applicable to charities in England & Wales requires fhe Trustees to pr8pare financial ststements for each fin8nclal year which give a true and fair vièw of the stste of the affairs of th8 charity and of th6 incoming resources and application of resources of the charty for that period. In preparing these financial ststements, ihe trustees are required to.. select suitable accounting policies and Ihen apply thern consistenly- observe the methods and principles in the Charities SORP (FRS102}: make judgements and ests'mates that are reasonable and prudent. stale whether applicable UK Accounting Slandards have been followed. subject to any material departures disclosed and expl8lned in the linancial slalements; prepare the financial slalemenls on the going concem basis unless il is inappropriale to presume that the ch8rily will contlnue in operation. The Trustees are responsible lor keeping proper accounting Tecords that disclose with reasonab16 accuracy at any time the financial position of the charity and enable Ih&m lo ensure that the financial stalemenls comply with the Charities Act 2011, the Charities (Accounts and Reporls) Regulation 2008 and the provisions of the trust deed. They are also responsible for safeguarding ihe assets of the charity and hence for teking reasonable steps for the prevèntKJn arKI detects'on of fraud and other irregularities. On behalf of the Board Jenny Bigg8m Trustee
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Independent Examiner's Report to the Trustees of the7stars Foundation I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Res onsibilities and basis of re ort As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charits'es 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}Ib) of the Act. Independent examiner's statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the ICAEW which is one of the listed bodies. 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.. 1. accounting records were not kept in respect of the Company as required by section 130 of the Act,. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in 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 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. N,- Li•ux QEkn LLP Adam Fullerton (FCA DChA) For and On Behalf of Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Date.. 9 December 2024
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Statement of Financial Activities for the year ended 31 March 2024 Restricted Funds Year ended 2024 Unrestricted Funds Year ended 2024 Total Year ended 2024 Total Year ended 2023 Note Income Incoming resources from Generated funds - Investment income 9,979 9,979 588 Charltable actlvtles - Grants, Donation, etc 270,177 270,177 276,582 Total 280,156 280,156 277,170 Expendlture on: Raising funds 33,504 33,504 83,731 Charitable activities 121,592 121,592 57,064 Total resources expended 155,096 155,096 140,795 Net income 125,060 125,060 136,375 Net movement in funds 125,060 125,060 136,375 Total funds brought fonward 483,259 483,259 346,884 Total funds carried forward 9,10 608,319 608,319 483,259
the7stars Foundation Balance Sheet At 31 March 2024 Note 2024 2024 2023 2023 CURRENT ASSErs: Debtors Cash at bank and in hand 568,796 188.825 611.199 48S,659 CREDITORS: Amounts falling due within one sear 2.880 2.400 Net Current Assets 608.319 483 259 Net Assets 608 319 483 259 Funds Unrestricted Funds Restricted FurKJ8 608,319 483,259 10 483 269 For the year ended 31 March 2024 the chrtY was entitled to exemptlon frn audit under Charities Act The financial ststements were approved by the Trustees on 25 .11.1 l+ and we Signed on their behalf by: Trustee: Je ny Biggam
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Notes to the Financial Statements for the year ended 31 March 2024 Accounting Policies Charity information the7stars Foundation is a charitsble incorporated organisation and registered in England and Wales. The registered office is 6-9 Bush House, North West Wing, 57 Alowch, London, WC2B 4PJ. Basls of preparatlon The financial statements have been prepared in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORPI and the Charities Act 2011. The financial statements are prepared in sterling, vthich is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. Golng concern The Trustees have assessed whether the use of the going concem basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concem. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statemenls. After making enquiries the Trustees have concluded that there is a reasonable expectation that the charitable entity has adequate resources to continue in operational existence for the foreseeable future, and there are no material uncertainties affecting this assumption. The charity therefore continues to adopt the going concern basis in preparing its financial statements. Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those Conditions is within the control of the charity and it is probable they will be fulfilled. Expendlture Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charily to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses, including support costs which include governance costs. are allocated to charitable activities in the statement of financial activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practi5, and these costs are included within support costs. Grants are fully accounted for in the year the grant is approved and notified to the beneficiary. Payments falling due in later years are provided for as a liability on the balance sheet.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2009FCBD3AC the7stars Foundation Notes to the Financial Statements for the year ended 31 March 2024 Accounting Policies {continued) Allocatlon of support costs Support costs are those functions that assist the work of the charity, but do not directly undertake charitable activities. Support costs include office costs. governance costs and other administrative costs. Where support costs cannot be directly attribuled lo particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. Flnanclal Instruments Debtors and creditors receivable or payable within one year of the reporting date are carried initially at their transaction price and subsequently at settlement value. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected fLrture receipts or payment discounted at a market rate of interest. Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments valued at the amount prepaid after taking account of any trade discounts due. Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and Ihe amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised al Iheir settlement amount after allowing for any trade discounts due. Fund accountlng Unrestricted funds are general funds that are available for the use at the trustees, discretion in furtherance of the objectives of the charity. Restricted funds are subject to specific conditions by donors as to how they may be used. The charity currently has no restricted funds. Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The charity currently has no designated funds. Critical Accounting Judgements and Estimates In application of the Charity's accounting policies, the board is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future penods if the revision affects both current and future periods. There are no estimates and assumptions which are believed to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in the current or prior period.
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2DD9FCBD3AC the7stars Foundation Notes to the Financial Ststements for the year ended 31 March 2024 TOTAL RESOURCES EXPENDED Restricted Unrestricted 2024 2024 Totsl 2024 Totsl 2023 Charitable Activities Donations and grants - activities for young children 75,705 75,705 75,705 75,705 29,523 29,523 Governance and Admlnlstratlon Accountancy fees Administration Bank charges 3,360 42,081 3,360 42.081 3,514 24,009 18 45,887 45.887 27,541 Total Resources Expended on Charftable Actlvllles 121,592 121,592 57,064 The main functional activity of the Charity during the year was to relieve Ihe needs and suffering of children aged 16 years and under in particulars those who face challenges caused by homelessness, addiction, abuse, or who may be caring for a sick or disabled adult. Average number of employees in the cUrnt and prior year was nil. Work is done by Trustees and Volunteers. No employees received emolumenls of £60,000. The Charity did not have any paid employees during the year. The Trustees worked on a voluntary basis and received no remuneration. 3 TAXATION No liability to UK Corporation Tax arose on ordinary actNities for the year ended 31st March 2024. 4 TRUSTEES The Charty paid no emoluments to the Trustees during the year (2023.. £nil). 5 INDEPENDENT EXAMINERS REMUNERATION The Independent Examiner's remuneration amounts to a fee of £2.880 {2023.' £2,400). 6 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrued income & prepayments Other debtors 218,796 350,000 188,825 568,796 188,825 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 2,880 2,400 2,880 2,400 10
Docusign Envelope ID.. D1 FOEBC5-FA4A4A3N1A&D2DD9FCBD3AC the7stars Foundation Notes to the Financial Ststements for the year ended 31 March 2024 8 CHARITY STATUS The Charity is registered as a Charitable Incorporaled Organisation. It is a registered Charity Ino. 1168240). 9 UNRESTRICTED FUNDS Current year Balance 0110412023 Movement In Year Balance 3110312024 Unrestricted funds Total 483.259 483,259 125,060 125,060 608,319 608,319 Prior year Balance 0110412022 Movement In Year Balance 3110312023 Unrestricted funds Total 346,884 346,884 136,375 136,375 483,259 483,259 10 RESTRICTED FUNDS The Charrty has no restricted funds. 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Current year Net Current Assets Totsl Unrestricted funds 608,319 608,319 608,319 608,319 Prlor yèar Not Current Assets Total Unrestricted funds 483,259 483.259 483,259 483,259 12 RELATED PARTY DISCLOSURE The Charity is controlled by the Trustees and there is a dose relationship with the7stars UK Limited, a company incorporated in England. During ihe year the company donated £218,712O23= £188,825) to the Charity- At the year-end the charity was owed £350,00012023'. £nil) by the company.