Charity number: 1170488
BLEVINS FRANKS CHARITABLE FOUNDATION
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
BLEVINS FRANKS CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 13 |
BLEVINS FRANKS CHARITABLE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024
Trustees
A L Borg M Howard M Orwell (appointed 17 September 2024)
Charity registered number
1170488
Principal office
28 St James' Square London SW1Y 4JH
Accountants
Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL
Page 1
BLEVINS FRANKS CHARITABLE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their annual report together with the financial statements for the year ended 30 June 2024. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and Charities Act 2011.
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and activities
a. Policies and objectives
The object of the foundation is to advance such charitable purposes according to the law of England and Wales as the Trustees see fit from time to time. The foundation aims to provide donations for small local causes within the locality of Blevins Franks Group‘s (Blevins Franks) offices in the UK and across Europe. These include France, Spain, Portugal, Cyprus, Malta and Monaco.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Grant-making policies
Grant recipients will be chosen based on due diligence regarding their objectives, activities and impact. Priority will be given to smaller charities and the trustees delegate the task of promoting and managing local charitable giving to local committees. In turn, decisions of the committee are reported regularly and ratified by the trustees.
Achievements and performance
a. Review of activities
During the period the charity received donations amounting to £48,555 (2023: £46,282).
During the period, the foundation made total donations of £30,546 (2023: £46,486). This is shown on note 3 to the financial statements.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
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BLEVINS FRANKS CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
b. Overview of Results
The donations collected are not restricted for use and as at 30 June 2024, unrestricted funds amounted to £52,556 (2023: £37,579). Such an amount was not fully exhausted during the period due to the trustees’ decision to leave sufficient funds available for future donations.
c. Reserves policy
The Foundation needs to ensure that it keeps a minimum balance to cover all necessary costs, should it have to close down for any reason.
d. Principal funding
The Foundation is supported by donations provided by Blevins Franks' staff as well as fundraising activities. Blevins Franks matches any donations made to the foundation by the staff.
Structure, governance and management
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Trust deed.
The company is constituted under a Trust deed and is a registered charity number 1170488.
The principal object of the charity is to advance charitable purpose (according to the law of England and Wales) as the trustees and the committee see fit from time to time. The foundation’s main focus is to provide donations to small local charities and when possible, the aim is to provide financial assistance for a specific cause or project being undertaken by such charities.
b. Methods of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Policies adopted for the induction and training of Trustees
During the setting up of the foundation, professional assistance was sought and appropriate guidance obtained with respect to the role of the trustees and their powers. Furthermore, the trustees follow the guidance as provided by the Charity Commission in the UK.
d. Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
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BLEVINS FRANKS CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Plans for future periods
a. Future developments
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives in planning our future activities. The trustees may, in the future, diversify the Charity’s sources of funding by seeking support from other donors including the promotion of other fundraising events.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 18 November 2024 and signed on their behalf by:
................................................
A L Borg Trustee
Page 4
BLEVINS FRANKS CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024
Independent Examiner's Report to the Trustees of Blevins Franks Charitable Foundation ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 30 June 2024.
Responsibilities and Basis of Report
As the Trustees of the company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the company's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the company has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
-
accounting records were not kept in respect of the company as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed: Dated: 18 November 2024 Thomas Rogers ACA
Haslers, Old Station Road, Loughton, Essex, IG10 4PL
Page 5
BLEVINS FRANKS CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| Note Income from: Charitable activities 2 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 48,555 48,555 33,578 33,578 14,977 37,579 14,977 52,556 |
Total funds 2024 £ 48,555 48,555 33,578 33,578 14,977 37,579 14,977 52,556 |
Total funds 2023 £ 46,282 46,282 48,477 48,477 (2,195) 39,774 (2,195) 37,579 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 13 form part of these financial statements.
Page 6
BLEVINS FRANKS CHARITABLE FOUNDATION
BALANCE SHEET AS AT 30 JUNE 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| - | - | |||||
| Current assets | ||||||
| Debtors | 6 | 11,268 | 10,767 | |||
| Cash at bank and in hand | 43,844 | 29,272 | ||||
| 55,112 | 40,039 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 7 | (2,556) | (2,460) | |||
| Net current assets | 52,556 | 37,579 | ||||
| Total assets less current liabilities | 52,556 | 37,579 | ||||
| Net assets excluding pension asset | 52,556 | 37,579 | ||||
| Total net assets | 52,556 | 37,579 | ||||
| Charity funds | ||||||
| Restricted funds | - | - | ||||
| Unrestricted funds | 52,556 | 37,579 | ||||
| Total funds | 52,556 | 37,579 |
The financial statements were approved and authorised for issue by the Trustees on 18 November 2024 and signed on their behalf by:
A L Borg
The notes on pages 8 to 13 form part of these financial statements.
Page 7
BLEVINS FRANKS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Blevins Franks Charitable Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
1.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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BLEVINS FRANKS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. Accounting policies (continued)
1.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.8 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
1.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
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BLEVINS FRANKS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
2. Income from charitable activities
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Donations | 48,555 | 48,555 | 46,282 |
The donations above include donations from the primary sponsors Blevins Franks Financial Management Limited & Blevins Franks Wealth Management Limited and it's staff, along with donations from Lombard International Assurance.
3. Analysis of expenditure by activities
| Total costs Total 2023 |
Direct costs 2024 £ 30,546 46,486 |
Support costs 2024 £ 3,032 1,991 |
Total funds 2024 £ 33,578 48,477 |
Total funds 2023 £ 48,477 |
|---|---|---|---|---|
Analysis of direct costs
| Total | Total | ||
|---|---|---|---|
| Activities | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Grants payable | 30,546 | 30,546 | 46,486 |
Page 10
BLEVINS FRANKS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
3. Analysis of expenditure by activities (continued)
Analysis of support costs
| Governance costs Bank charges and Loss/(Gain) on Foreign Exchange Total 2024 |
Activities 2024 £ 2,556 476 3,032 |
Total funds 2024 £ 2,556 476 3,032 |
Total funds 2023 £ 2,460 (469) |
|---|---|---|---|
| 1,991 |
4. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,556 ( 2023 - £2,460 ).
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 30 June 2024, no Trustee expenses have been incurred (2023 - £NIL) .
6. Debtors: Amounts falling due within one year
| Other debtors Creditors: Amounts falling due within one year Accruals and deferred income |
2024 £ 11,268 11,268 2024 £ 2,556 |
2023 £ 10,767 |
|---|---|---|
| 10,767 | ||
| 2023 £ 2,460 |
7. Creditors: Amounts falling due within one year
Page 11
BLEVINS FRANKS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
8. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 July 2023 £ 37,579 Balance at 1 July 2022 £ 39,774 |
Income £ 48,555 Income £ 46,282 |
Expenditure £ (33,578) Expenditure £ (48,477) |
Balance at 30 June 2024 £ 52,556 |
|---|---|---|---|---|
| Balance at 30 June 2023 £ 37,579 |
9. Analysis of net assets between funds Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Current assets 55,112 Creditors due within one year (2,556) Total 52,556 Analysis of net assets between funds - prior period Unrestricted funds 2023 £ Current assets 40,039 Creditors due within one year (2,460) Total 37,579 |
Total funds 2024 £ 55,112 (2,556) |
|---|---|
| 52,556 | |
| Total funds 2023 £ 40,039 (2,460) |
|
| 37,579 |
Page 12
BLEVINS FRANKS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
10. Members' liability
Each member of the Charitable Incorporated Organisation (CIO) undertakes to contribute to the assets of the CIO in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
11. Related party transactions
During the year there were no related party transactions.
Page 13