DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
CHARITY REGISTRATION NUMBER: 1168715
The Directors Charitable Foundation Unaudited Financial Statements A Charitable Incorporated Organisation
31 August 2023
DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 8 |
| Statement of financial activities | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 11 |
DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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).
Chairman's Statement
The Directors Charitable Foundation (DCF) is the charity for the UK’s screen and stage directors. We have two aims:
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To support and help directors in need with our Directors Support Scheme and our Mental Health projects.
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To inspire young people from all backgrounds - particularly from those who are currently under-represented in the directing profession - to consider a career as a director. Our Get Directing ! pilot project is our platform for introducing young people and their teachers to storytelling and the crucial role of the director.
DCF is run by volunteer Trustees most of whom are directors themselves, so we understand the needs of directors.
The Directors Charitable Foundation (DCF) was formed in 2016 as a partnership between Directors UK, Stage Directors UK and the then Directors Guild of Great Britain (DGGB) to fulfil their long - standing ambition to create a charity for directors and to provide support and inspiration in ways that could not be done by the professional guilds. (The DGGB ceased operating once DCF came into existence). DCF is the only national organisation working for all directors - from audio-visual to stage.
Our volunteer Trustees are very active in running the Directors Support Scheme, making our projects happen and guiding the charity’s day-to-day activities. This means that we can keep our costs to a minimum and channel as much money as possible to the directors who need our help and to our community projects.
During this year Jemma Gross stepped down as Trustee. Peter Close also retired as our Honorary Secretary and David Coppard stepped down as our Treasurer. We thank them all for their dedication and their contribution to the charity.
Our Board of Trustees has been strengthened this year with two new members – Ben Woodiwiss and Guy Gibbons. Ben was Into Film’s lead on filmmaking projects and competitions, and Project Manager for all their international youth outreach filmmaking activities. Guy was formerly the Finance Director of Directors UK and is our new Treasurer.
Directors Support Scheme (DSS)
The scheme offers emergency help to directors (and dependants of deceased directors) in acute need of short-term support. The DSS is not for use as a source of funding for creative projects. We aim to give applicants a decision from the DSS panel within 21 days of application. Grants are usually in the region of £500.
All applicants must be UK residents. Applicants must be a director or a dependant of a deceased director. Our eligibility criteria have been designed to mirror the membership criteria of Directors UK and Stage Directors UK as far as possible.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
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Screen directors must have at least one UK broadcast credit as principal director.
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Film directors must have at least one UK cinema or major UK festival exhibition (as per Directors UK rules) credit as principal director.
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Stage directors, including opera and musicals , must have at least one UK professional credit (i.e. Equity contract and/or in receipt of public funding) as director, associate or assistant director with commercial, subsidised or established fringe organisations.
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VR and video game directors must have a recent verifiable credit on either IMDB, an appropriate website or a public showreel.
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Commercials and music video directors must demonstrate a body of work with a minimum of several credits on IMDB, an appropriate website or a public showreel.
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A dependant means a person who depends on another person for support, aid or sustenance, especially financial support.
In exceptional circumstances, we will consider other categories of eligibility, i.e. directors working with marginalised communities or working in unconventional settings.
Applicants apply to us via an online form , including a simple statement outlining the specific need or circumstances for which financial support is being sought. Applications must be accompanied by a professional CV so that we can verify eligibility.
A small group of our Trustees acts as an Assessing Panel. All applications are scrutinised to ascertain eligibility. Eligible applications are then assessed by the Panel, who report to the DCF Board.
During the financial year 2022/23 we received 61 applications for support, and we approved 49 applications and paid out a total of £31,790 to applicants.
Inspiring the next Generation of Storytellers
Our programme Get Directing! aims to inform and inspire the story tellers of tomorrow – particularly those currently under-represented in the directing profession - by running classes, workshops and mentoring projects with young people, both in and outside of the school environment. DCF’s Get Directing programme also works to develop young people’s confidence and 21st century skills to better prepare them for any career path in the future. Four Trustees worked on this initiative – Deborah Paige, John Dower, Ben Woodiwiss and Christiana Ebohon-Green.
We conducted another Get Directing! project this year in collaboration with United Learning . United Learning is the UK’s largest Academy chain which gives us a great opportunity to access state secondary schools country-wide.
Continuing and consolidating our relationship with United Learning, we expanded on our pilot and first year of a mentoring scheme which brings directors and teachers together. Developments in 22/23 included a teacher led project initiated by the Salford teachers we worked with in year one, and a firsttime partnership with a building-based theatre company (The Royal and Derngate in Northampton).
In a ‘play in a day’ event in Salford, students had direct access to 3 professional directors, who helped them explore and focus on the role of the director. Two of these had themselves grown up in the area. Meanwhile in Northamptonshire, we were able to tap into the existing network the Royal and Derngate theatre had developed with local schools and support a mentorship between locally based theatre directors and teachers, which has continued to benefit of both professionals and their work in the locality.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
Over-all we supported 4 professional directors and 4 teachers, and through their interactions, a cohort of young people in Salford and Northampton.
Plans were set into motion to consider the best way to develop our work in schools to enable us to bring the skills of the director to the fore in the curriculum while continuing to extend the mentoring scheme to include more schools
Building on the relationship we began with film education charity Into Film , where we sent Directors into schools in England, Scotland, Wales and Northern Ireland in 2021/22, we are now also working with them to develop further projects designed to promote directing in both Film and Games to young people and inspire them to tell their own stories.
We are also working with the education departments at both UKIE (UK Interactive Entertainment) and BAFTA GAMES to develop together a programme to inspire young people to consider storytelling, character building and Directing in Games.
This year we continued our partnership with Inspiring the Future (ITF) designed to improve the quality of careers advice for young people about working as a director.
Inspiring The Future in partnership with DCF facilitates careers talks to hundreds of school children in hundreds of schools across England. We have access to 80% of secondary and 30% of primary schools. These talks introduce people to a career that they might otherwise know nothing about and, hopefully, sparks their interest.
Directors are invited to attend a range of school sessions, such as talks at assemblies, careers days and ‘what’s my line’ (where children try to guess their role, by asking a range of questions). ITF are especially keen to invite sessions from diverse directors (gender/race/class/disability etc) to whom the young people could easily relate. “If you can see it, you can be it.”.
Our Directors ran 9 in-person and 2 virtual careers talks and workshops in schools across England, reaching approximately 1,000 young people.
Mental Health and Well-Being
Whilst Mental Health (MH) issues cover a very broad spectrum, it is clear from recent research that there are huge issues that are very specific to working conditions in our industry and to directors in particular.
In May 2022, DCF launched The DCF Directors Wellbeing Hub in partnership with industry leading therapy provider Solas Mind , providing a range of professionally curated resources for self-care and crisis management. Perhaps most significantly, through the hub, the DCF launched a new service that gives directors access to online one-to-one therapy.
DCF hosted a webinar in partnership with Solas Mind titled: Building Resilience in Times of Adversity . Places were limited to a maximum of 20. Feedback from the session was very positive.
In March 2023 , following feedback of the pilot scheme, DCF launched a new, simplified version of our Director Therapy Support . This enabled Directors UK and Stage Directors UK members to access discounted therapy directly and anonymously , via their membership organisations. We also offered an initial session free to DUK members as an incentive to try and reach people in need who might not naturally consider therapy. Take up was encouraging from both Stage and Screen directors.
Throughout, we continued to offer up to 3 sessions free to those in acute financial need – for this, directors needed to apply to DCF, via the form on our website, and their applications were assessed by the DSS panel. The DSS panel were also encouraged to consider offering up to 3 sessions of free online therapy to any eligible DSS applicants that they thought might benefit from it.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
Fundraising
DCF is supported by a substantial donation from Directors UK and we are very grateful for this continuing support. This year Directors UK decided to ask us to focus their donation on support for professional screen directors. From the start of 2024, DCF will need to raise funds from others in order to continue with our support for stage directors and for our inspiration work with young and under-represented young people.
To achieve this we will approach potential donors that support the theatre sector, along with trusts and foundations that share our aims to inspire young people from under-represented groups through cultural and artistic projects.
We have noted an alarming rise in the second half of 2023 in applications for financial help from screen directors. This has been caused by a number of factors including the US strikes, a major turndown in UK TV commissioning by broadcasters especially in factual programming and the cost of living crisis. In order to enable us to continue to support screen directors we will be approaching major UK commissioning broadcasters - who are the major employers of freelance directors - for donations.
Objectives and activities
The charitable objects of The Directors Charitable Foundation are:
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to advance the education of the public by the encouragement of the arts particularly those practised by and resulting from the activities of directors and other persons with similar responsibilities having creative charge of units or sub-units of production in every activity involving the creative process or artistic endeavour.
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to promote any related charitable purpose including the arrangement and encouragement of co-operation with and between public and local authorities and charitable organisations and national and international organisations with similar objects or objects affecting directors.
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to relieve poverty and sickness among those engaged in the arts and particularly among directors their dependants and relatives.
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and in furtherance of the above objects but not further or otherwise: -
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4.1 to undertake research and to print publicise issue and otherwise disseminate any useful products thereof in any literary aural or visual form and to provide facilities for the acquisition storage publication and dissemination of informative and educational material in any form relevant to the objects of the CIO; and
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4.2 to present promote organise provide manage and produce any literary aural or visual material which may advance the objects of the CIO and in connection therewith to purchase acquire obtain interests in and deal with copyright and other rights in any such material.
Public benefit
The Trustees have had due regard to the Charity Commission Guidance on Public Benefit.
The Trustees have considered public benefit in line with the charitable status as a grant giving charity and have continued the Directors Support Scheme .
They have also established an outreach project aimed at young people and their teachers titled Get Directing! (Formerly Directors in Schools ).
The Foundation entered into an agreement with Digital Theatre+ , an educational electronic platform focused on theatre production and criticism, by means of which it will disseminate examples of good practice in theatre directing to a wide public of learners.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
Financial review
During the period, the Charity received donations, grants, charitable income, investment income and Gift Aid amounting to £61,820 (2022 - £53,175).
The total expenditure on charitable activities amounted to £51,105 (2022 - £41,956) with governance and other expenditure totalling £5,027 (2022 - £4,167) and fundraising costs totalling £4,008 (2022 - £4,332) during the period and the funds increased by £1,680 in the period (2022 increased - £2,720).
On 31 August 2023, the net assets of the Charity amounted to £47,012 (2022 - £45,332).
Reserves policy
The Trustees have determined that the reserves of the charity should amount to all the restricted funds plus 12-months of unrestricted expenditure to ensure that the charity can fully administer its restricted funds and achieve its charitable objectives year on year. The Directors Charitable Foundation's Reserves Policy has the desired goal of keeping funds of £15,000 as unrestricted free reserves.
At present, the free unrestricted reserves of the Charity show a surplus of £47,012.
Structure, governance, and management
Governing document
The Directors Charitable Foundation ("the Charity" or "DCF") was incorporated as a charitable incorporated organisation (CIO) by the Charity Commission on 10 August 2016 using the "Foundation" model constitution where its charity trustees are the sole voting members. The constitution was amended on 2 November 2022.
Under the constitution, the members have no liability to contribute to the assets of The Directors Charitable Foundation and no personal responsibility for settling its debts and liabilities.
The methods adopted for the recruitment and appointment of new Trustees
At the year end the charity was governed by ten trustees and one Associate trustee, Peter Close, the Honorary Charity Secretary. The Constitution permits a maximum of 17 charity trustees. If a vacancy occurs on the Board of Trustees or a suitable opportunity arises, a meeting will then be held to discuss the possible candidates. In accordance with the Constitution, meetings may be held by electronic means, and following a discussion and vote, the Board would then appoint a new member.
Appointments are normally for a period of three years. Trustees may be re-elected for additional periods, up to a maximum of 12 years.
The policies and procedures adopted for the induction and training of trustees
At present, there are no formal policies and procedures for the induction and training of new trustees.
However, the procedure with recent appointments is for the Chair and/or the Hon. Secretary to induct new Trustees. All new Trustees received copies of the Constitution and minutes of recent meetings. In addition, new Trustees will also receive a copy of the most recent Annual Report.
The organisational structure of the charity and how decisions are made
In this financial year the Trustees held eight meetings to manage the Charity's affairs. Minutes of such meetings are taken, and records kept indefinitely.
The day-to-day management of the Charity is the responsibility of the Chair, supported by the two Vice-
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The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
Chairs, the Hon. Treasurer and Hon. Secretary. The Charity is further supported by a part-time Coordinator.
The Chair, Officers and the remaining Trustees play a vital role in the development and running of the Charity.
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The Trustees have a risk management strategy which comprises.
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(a) An annual review of the risks the Charity may face.
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(b) The establishment of systems and procedures to mitigate those risks identified in the plan.
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(c) The implementation of procedures designed to minimise any potential impact on the Charity should those risks materialise, is the responsibility of the Trustees.
It is acknowledged that operational and financial risks exist, and the Trustees take appropriate steps to mitigate these within the financial constraints imposed by available funds.
The Charity has in place policies on: Conflict of Interest, Equal Opportunities, Anti-Fraud, Data Protection, Expenses, Anti-bribery, Trustee Code of Conduct, an Anti-Harassment and Bullying policy, a Disciplinary Code and a Grievance Procedure. The Charity has established an Audit Committee and adopted Terms of Reference for it. Trustee insurance has been put in place.
Related parties
The Trustees consider that the following are related parties:
Directors UK Limited
Directors UK Limited ("DUK") has the power, under the constitution, to appoint two Trustees to the Charity.
The DUK Representatives were: Dan Zeff and Thomas Roberts
Transaction and balances with related parties are set out in Note 22.
Income and capital
The Trustees must apply the income and, at their discretion all or part of the capital, of the Charity in furtherance of its charitable objects.
Grants
One of the major activities of the Charity is the provision of grants and financial assistance to beneficiaries in line with its wide charitable objects. The Trustees receive applications for funding through the Directors Support Scheme .
Grant making policy
Applications are considered and assessed against our published Guidance for Applicants www.directorscf.org/guidance-for-applicants. Successful applications are paid after approval. Grants are included in the accounts when the Trustees have made an irrevocable commitment to pay.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Trustees' Annual Report
Year ended 31 August 2023
Reference and administrative details
Registered charity name The Directors Charitable Foundation Charity registration number 1168715 Principal office 4[th] Floor 22 Stukeley Street London WC2B 5LR The trustees Andrew Chowns Ailin Naomi Conant (Resigned 7[th] December 2023) David Coppard FCA (Resigned 23 February 2023) John Dower Christiana Ebohon-Green Guy Gibbons (Appointed 23 March 2023) Antony Gostyn Jemma Gross (Resigned 25 November 2022) Deborah Paige Christine Lalla (Appointed 14 December 2023) Nicola Ann Allpress (Appointed 7 September 2023) Thomas Roberts Michelle Singer Ben Woodiwiss (Appointed 20 April 2023) Daniel Zeff Hon. Charity Secretary Peter Close Coordinator Alexandra Harris Bankers The Co-Operative Bank Plc P O Box 250 Skelmersdale WN8 6NY Independent examiner Benjamin Bidnell Shipleys LLP Chartered Accountants 10 Orange Street Haymarket London. WC2H 7DQ
The trustees' annual report was approved on 19[th] April 2024 and signed on behalf of the board of trustees by:
Andrew Chowns Trustee
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Independent Examiner's Report to the Trustees of The Directors Charitable Foundation
Year ended 31 August 2023
I report to the trustees on my examination of the accounts of the Directors Charitable Foundation (the charity) for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under s. 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under s. 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1) accounting records were not kept in respect of the charity as required by section 103 of the Act; or
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2) the accounts do not accord with those records; or
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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.
Benjamin Bidnell FCCA Shipleys LLP Chartered Accountants 10 Orange Street Haymarket London, WC2H 7DQ
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Statement of Financial Activities
Year ended 31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 57,794 | 57,794 | 52,839 |
| Charitable activities | 6 | 3,863 | 3,863 | 345 |
| Investment income | 7 | 163 | 163 | (9) |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 61,820 | 61,820 | 53,175 | |
| ================================ | ================================ | ================================ | ||
| Expenditure | ||||
| Expenditure on raising funds | 8 | 4,008 | 4,008 | 4,332 |
| Expenditure on charitable activities | 9,10 | 56,132 | 56,132 | 46,123 |
| ------------------------------- | ------------------------------- | ------------------------------ | ||
| Total expenditure | 60,140 | 60,140 | 50,455 | |
| ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | ------------------------------ | ||
| Net income and net movement in funds | 1,680 | 1,680 | 2,720 | |
| ================================ | ================================ | ================================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 45,332 | 45,332 | 42,612 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 47,012 | 47,012 | 45,332 | |
| ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 11 to 18 form part of these financial statements.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Statement of Financial Position
31 August 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 17 | - | - |
| Current assets | |||
| Debtors | 18 | 958 | 39 |
| Cash at bank and in hand | 49,379 | 48,621 | |
| --------------------------- | --------------------------- | ||
| 50,337 | 48,660 | ||
| Creditors: amounts falling due within one year | 19 | (3,325) | (3,328) |
| --------------------------- | --------------------------- | ||
| Net current assets | 47,012 | 45,332 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 47,012 | 45,332 | |
| --------------------------- | --------------------------- | ||
| Net assets | 47,012 | 45,332 | |
| =========================== | =========================== | ||
| Funds of the charity | |||
| Unrestricted funds | 47,012 | 45,332 | |
| --------------------------- | --------------------------- | ||
| Total charity funds | 20 | 47,012 | 45,332 |
| =========================== | =========================== |
These financial statements were approved by the board of trustees and authorised for issue on 19[th] April 2024, and are signed on behalf of the board by:
Andrew Chowns Trustee
Guy Gibbons Trustee
The notes on pages 11 to 18 form part of these financial statements.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The charity is a registered charity in England and Wales and is a Charitable Incorporated Organisation. The address of the principal office is 4th Floor, 22 Stukeley Street, London, WC2B 5LR.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) (The Charities SORP FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
3. Accounting policies
Basis of preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The financial statements are prepared in sterling, which is the functional currency of the Charity, and rounded to the nearest £1.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The charity does not include a cash flow statement on the grounds that it is a small charity and is exempt under the Charities SORP FRS 102.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no significant estimates or judgements in the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for future projects or commitments.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
The charity does not currently have any designated or restricted funds.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.
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income from charitable activities are accounted for when earned
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interest on funds held at bank is included when receivable and can be reliably measured by the charity.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of attracting donations and fundraising.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable, and consistent basis.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 33% straight line
Financial instruments
The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:
Debtors – trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments and are measured at amortised cost.
4. Charitable incorporated organisation
The Charity was incorporated as a Charitable Incorporated Organisation (CIO) using the Charity Commission's "Foundation" model constitution where the charity trustees are the sole voting members.
Under the constitution, the members have no liability to contribute to the assets of The Directors Charitable Foundation and no personal responsibility for settling its debts and liabilities.
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DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2023
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Directors UK Limited | 55,000 | – | 55,000 | |
| Donations from individuals | 2,204 | – | 2,204 | |
| Gift Aid claimed | 590 | – | 590 | |
| -------------------------------- | -------------- | -------------------------------- | ||
| 57,794 | – | 57,594 | ||
| ================================ | ============== | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Donations | ||||
| Directors UK Limited | 50,000 | – | 50,000 | |
| Donations from individuals | 2,214 | – | 2,214 | |
| Gift Aid claimed | 625 | – | 625 | |
| -------------------------------- | -------------- | -------------------------------- | ||
| 52,839 | – | 52,839 | ||
| ================================ | ============== | ================================ | ||
| Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Royalties | - | - | 345 | 345 |
| Partnership funding | 3,863 | 3,863 | - | - |
| -------------------------- | -------------------------- | -------------- | -------------- | |
| 3,863 | 3,863 | 345 | 345 | |
| ============================ | ====================== | ============== | ============== | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Building society interest receivable | 138 | 138 | (9) | (9) |
| Other | 25 | 25 | - | - |
| -------------------------- | -------------------------- | -------------- | -------------- | |
| 163 | 163 | (9) | (9) |
|
| ============== | ============== | ============== | ============== | |
| Expenditure on raising funds | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Costs of raising donations | 4,008 | – | 4,008 | |
| ================================ | ============== | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Costs of raising donations | 4,332 | – | 4,332 | |
| ================================ | ============== | ================================ |
6. Charitable activities
7. Investment income
8. Expenditure on raising funds
14
DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2023
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Education | 11,019 | – | 11,019 |
| Directors Support Scheme | 31,790 | – | 31,790 |
| Mental Health Projects | 2,400 | 2,400 | |
| Support costs | 10,923 | – | 10,923 |
| -------------------------------- | -------------- | -------------------------------- | |
| 56,132 | – | 56,132 | |
| ================================ | ============== | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Education | 7,332 | – | 7,332 |
| Directors Support Scheme | 24,700 | – | 24,700 |
| Mental Health Projects | 4,647 | 4,647 | |
| Support costs | 9,444 | – | 9,444 |
| -------------------------------- | -------------- | -------------------------------- | |
| 46,123 | – | 46,123 | |
| ================================ | ============== | ================================ |
10. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Grant funding | Support | Total funds | |
| directly | of activities | costs | 2023 | |
| £ | £ | £ | £ | |
| Education | 11.019 | – |
2,883 | 13,902 |
| Directors Support | ||||
| Scheme | – | 31,790 | 455 | 32,245 |
| Mental Health Projects | 2,400 | – | 2,558 | 4,958 |
| Governance costs | – | – | 5,027 | 5,027 |
| ------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 13,419 | 31,790 | 10,923 | 56,132 | |
| ========================= | ================================ | ================================ | ================================ | |
| Activities | ||||
| undertaken | Grant funding | Support | Total fund | |
| directly | of activities | costs | 2022 | |
| £ | £ | £ | £ | |
| Education | 7,332 | - | 2,603 | 9,935 |
| Directors Support | ||||
| Scheme | - | 24,700 | 467 | 25,167 |
| Mental Health Projects | 4,647 | - | 2,207 | 6,854 |
| Governance costs | - | - | 4,167 | 4,167 |
| ------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 11,979 | 24,700 | 9,444 | 46,123 | |
| ========================= | ================================ | ================================ | =========================== |
15
DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2023
11. Analysis of support costs
| Directors | |||||
|---|---|---|---|---|---|
| Support | |||||
| Education | Scheme Mental health | Governance | Total 2023 | ||
| £ | £ | £ | £ | ||
| General office | - | - | - | 117 | 117 |
| Domain name and | |||||
| Website costs | 149 | 64 | 214 | – | 427 |
| Coordinator’s fees and | |||||
| expenses | 2,734 | 391 | 2,344 | 2,343 | 7,812 |
| Legal fees | – | – | – | 270 | 270 |
| Insurance | – | – | – | 497 | 497 |
| Independent Examiners | |||||
| fees | – | – | – | 1,800 | 1,800 |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | --------------------------- | |
| 2,883 | 455 | 2,558 | 5,027 | 10,923 | |
| ======================= | =========================== | ======================= | =========================== | =========================== | |
| Directors | |||||
| Support | |||||
| Education | Scheme Mental health | Governance | Total 2022 | ||
| £ | £ | £ | £ | ||
| General office | 144 | 66 | - | 52 | 262 |
| Domain name and | |||||
| Website costs | 175 | 75 | 250 | – | 500 |
| Coordinator’s fees and | |||||
| expenses | 2,284 | 326 | 1,957 | 1,957 | 6,524 |
| Legal fees | – | – | – | 300 | 300 |
| Insurance | – | – | – | 478 | 478 |
| Independent Examiners | |||||
| fees | – | – | – | 1,380 | 1,380 |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | --------------------------- | |
| 2,603 | 467 | 2,207 | 4,167 | 9,444 | |
| ======================= | =========================== | ======================= | =========================== | =========================== |
12. Analysis of grants under the directors’ support scheme
Grants to individuals
| Grants to individuals | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| 49 - Emergency relief of poverty (2022 – 47) | 31,790 | 24,700 | |
| =========================== | =========================== | ||
| 13. | Net income/(expenditure) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | – | – | |
| ============== | ============== |
16
DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2023
14. Independent examination fees
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,800 | 1,440 |
| Prior year (over) / under provision | - | (60) |
| ----------------------- | ----------------------- | |
| 1,800 | 1,380 | |
| ========================= | =========================== |
15. Staff costs
The Charity did not employ any staff in the current or prior period.
The average head count of employees during the period was Nil.
No employee received employee remuneration or benefits of more than £60,000 during the period.
16. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
None (2022 - three) of the trustees claimed fees and reimbursed expenses of £nil in the year (2022 - £499).
17. Tangible fixed assets
| Equipment | ||
|---|---|---|
| £ | ||
| Cost | ||
| At 1 September 2022 | 130 | |
| Disposals | (130) | |
| -------------- | ||
| At 31 August 2023 | - | |
| ============== | ||
| Depreciation | ||
| At 1 September 2022 | 130 | |
| Disposals | (130) | |
| Charge for the year | - | |
| -------------- | ||
| At 31 August 2023 | - | |
| ============== | ||
| Carrying amount | ||
| At 31 August 2023 | - | |
| ============== | ||
| At 31 August 2022 | - | |
| ============== | ||
| Debtors | ||
| 2023 | 2022 | |
| £ | £ | |
| Prepayments and accrued income | 958 | 39 |
| ============== | ============== |
18. Debtors
17
DocuSign Envelope ID: 9AA16D24-34F6-42F1-A1EC-FD513EDCA776
The Directors Charitable Foundation
Notes to the Financial Statements (continued)
Year ended 31 August 2022
19. Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 3,325 | 3,328 |
| ======================= | ======================= |
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At 1 | At 31 | ||||
| September | August | ||||
| 2022 | Income | Expenditure | Transfers | 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 45,332 | 61,820 | (60,140) | – | 47,012 |
| =========================== | ================================ | ================================ | ============== | =========================== | |
| At 1 | At 31 | ||||
| September | August | ||||
| 2021 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| General funds | 42,612 | 53,175 | (50,455) | – | 45,332 |
| =========================== | ================================ | ================================ | ============== | =========================== | |
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2023 | ||||
| £ | £ | ||||
| Tangible fixed assets | - | - | |||
| Current assets | 50,337 | 50,337 | |||
| Creditors less than 1 year | (3,325) | (3,325) |
|||
| --------------------------- | --------------------------- | ||||
| Net assets | 47,012 | 47,012 | |||
| =========================== | =========================== | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| £ | £ | ||||
| Tangible fixed assets | - | - | |||
| Current assets | 48,660 | 48,660 | |||
| Creditors less than 1 year | (3,328) | (3,328) |
|||
| --------------------------- | --------------------------- | ||||
| Net assets | 45,332 | 45,332 | |||
| =========================== | =========================== |
21. Analysis of net assets between funds
22. Related parties
During the period, the Charity received a donation of £55,000 (2022- £50,000) from Directors UK Limited a company in which some of the Trustees of The Directors Charitable Foundation are also members.
18