Charity registration number: 1170912
Heritage Concern Foundation CIO
Annual Report and Financial Statements
for the Year Ended 31 March 2021
Saul Fairholm Limited 12 Tentercroft Street Lincoln LN5 7DB
Heritage Concern Foundation CIO
Contents
| Reference and Administrative…………………………………………………………………………………….1 | Reference and Administrative…………………………………………………………………………………….1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance Sheet | 7 |
| Notes to the financial statements | 8to 13 |
Heritage Concern Foundation CIO Reference and Administrative Details
| Charity name | Heritage Concern Foundation CIO | Heritage Concern Foundation CIO |
|---|---|---|
| Charity registration number | 1170912 | |
| Trustees | David Edward Butler | |
| Duncan Graham | ||
| James Edward Butler | ||
| Donald Cameron Graham | ||
| William Marley | (appointed 23rdJune 2021) | |
| Ian McDonald | (appointed 23rdJune 2021) | |
| Paul O’Donnell | (appointed 23rdJune 2021) | |
| Accountant | Saul Fairholm Limited | |
| 12 Tentercroft Street | ||
| Lincoln | ||
| LN5 7DB |
Page 1
Heritage Concern Foundation CIO
Trustees' Report
The financial statements have been prepared in accordance with 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 (SORP October 2019) applicable to charities preparing their accounts in accordance with S132-166 Charities Act 2011.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1170912
Principal address
Sandaigh Mugdock Road Milngavie Glasgow G62 8EJ
Trustees
David Edward Butler Duncan Graham (Chairman) James Edward Butler Donald Cameron Graham William Marley (appointed 23[rd] June 2021) Ian McDonald (appointed 23[rd] June 2021) Paul O’Donnell (appointed 23[rd] June 2021)
Independent examiner
Roger White ACA Saul Fairholm Limited Chartered Accountants 12 Tentercroft Street Lincoln LN5 7DB
Principal Bankers
Trustees Saving Bank
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Heritage Concern Foundation is constituted by Deed of Trust dated 23[rd] December 2016 and is a registered Charitable Incorporated Organisation (CIO). Charity number 1170912.
Recruitment, appointment and resignation of Trustees
Whilst the Board of Trustees considered that the members as at 31[st] March 2021 offered the variety of skills suitable for the running of the Charity, three new members were appointed after the year end in order to provide further balance in managing the Charity. All trustees are appointed based upon their suitability for the role.
Page 2
Heritage Concern Foundation CIO
Trustees' Report
Investment policy
The Trustees' policy is to invest surplus funds in fixed interest deposits since the value of investments can fall. This is normally not the case with cash deposits, so investment risk is minimised.
Risk management
The Trustees do not consider that the Charity is exposed to any major risks but acknowledge that its current and future survival is heavily dependent on voluntary donations. In common with many other charities in the current economic climate, it continues to be reliant on the goodwill of members and considers that it has adequate reserves to meet obligations now and in the future.
OBJECTIVES AND ACTIVITIES
The objective of the Charity is to promote the conservation, protection and improvement of the physical and natural environment (including its Flora and Fauna) through the making of grants to charities registered in England and Wales whose purposes are in particular but not limited to, the promotion of the conservation, protection and improvement of the physical and natural environment (including its Flora and Fauna).
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees report that during the period the charity received no donations (2020: £25,170) however cash reserves enabled it to make grants to appropriate applicants operating under the guidelines of the charity. Grants totaling £21,000 were paid out in the period (2020: nil). A number of applications are under review.
Management of the charity
The decision making process for the day to day running of the Charity is made by the Trustees.
At present the charity employs no staff to manage its activities as its administrative process is readily handled by its Trustees.
STATEMENT OF PUBLIC BENEFIT
The objectives of the Charity as stated above, by their very nature create a benefit to the wider populace in protecting the natural environment in which we live.
Page 3
Heritage Concern Foundation CIO
Trustees' Report
FINANCIAL REVIEW
Reserves policy
The Trustees have based their reserves policy on the liquid assets of the Charity. The Trustees policy is to maintain free reserves at a level at least equivalent to fund its future operations for six months.
At 31[st] March 2021 the Charity held assets of £204,632 (2020: £248,250).
The Charity carries adequate reserves to enable it to continue operations for the foreseeable future and, as the very nature of the Charity's income is based upon public goodwill, the Trustees consider that through activities carried out to raise funding as well as continued donations towards the Charity, funding will continue to flow in. On this basis the Trustees consider it appropriate to prepare the Financial Statements of the charity on a going concern basis.
FUTURE DEVELOPMENTS
The nature of the Charity requires ongoing fundraising and a need by the Trustees to protect the funds the Charity accumulates to ensure that the good work carried out continues well into the future. The Trustees understand that future donations have been proposed which will provide additional funding to enable the Charity to continue with its objectives.
FUNDS HELD
All liquid assets of the Charity are held in furtherance of its prime objective. The Charity holds no funds as custodian trustee on behalf of others.
Approved by the Trustees on 18 August 2021 and signed on their behalf by:
.........................................
David Edward Butler Trustee
......................................... Duncan Graham Trustee
Page 4
Independent Examiner's Report to the Trustees of
Heritage Concern Foundation CIO
I report on the accounts of the Charitable Incorporated Organisation for the year ended 31[st] March 2021, which are set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011(the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... Roger White ACA Saul Fairholm Limited
12 Tentercroft Street Lincoln LN5 7DB
18 August 2021
Page 5
Heritage Concern Foundation CIO
Statement of Financial Activities for the Year Ended 31 March 2021
| Note Incoming resources Income resources from generated funds Voluntary Income 2 Total incoming resources Resources expended Charitable donations Charitable activities 3 Total incoming resources Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ - - 21,000 22,618 43,618 (43,618) 162,258 118,640 |
Restricted funds £ - - - - - - 85,992 85,992 |
Total Funds Year Ended 31 March 2021 £ - - 21,000 22,618 43,618 (43,618) 248,250 204,632 |
Total Funds Year Ended 31 March 2020 £ 25,170 |
|---|---|---|---|---|
| 25,170 | ||||
| - 11,039 |
||||
| 11,039 | ||||
| 14,131 234,119 |
||||
| 248,250 |
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 6
Heritage Concern Foundation CIO
Balance Sheet as at 31 March 2021
| 31 March 2021 | 31 March 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed Assets | 10 | 12,500 | 18,750 | ||
| Current assets | |||||
| Cash at bank and in hand | 193,308 | 232,447 | |||
| Creditors: Amounts falling | |||||
| due within one year | 6 | (1,176) | (2,947) | ||
| Net current assets | 192,132 | 229,500 | |||
| Net assets | 204,632 | 248,250 | |||
| The funds of the charity: | |||||
| Restricted funds | 8 | 85,992 | 85,992 | ||
| Unrestricted funds | |||||
| Unrestricted income funds | 8 | 118,640 | 162,258 | ||
| Total charity funds | 204,632 | 248,250 |
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 Charities Act 2011.
Approved by the Board on 18 August 2021 and signed on its behalf by:
......................................... ......................................... David Edward Butler Duncan Graham Trustee Trustee
The notes on pages 8 to 13 form an integral part of these financial statements.
Page 7
Heritage Concern Foundation CIO
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Accounting policies
Basis of preparation
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 Charities Act 2011.
The CIO meets the definition of a public benefit entity under CA2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Fixed assets
Fixed assets of the charity are depreciated at appropriate rates considered by the trustees appropriate to write them down over their estimated useful life to a fair residual value.
Fund accounting policy
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Restricted funds are only utilised against the projects to which the funder intended them for, although the charity does not in general receive restricted funding due to the nature of its activities.
Further details of each fund are disclosed in note 8.
Incoming resources
Voluntary income including donations, gifts, legacies and grants receivable is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
Donations are credited to the Statement of Financial Activities when received. Tax reclaimable under gift aid is credited on a receivable basis. Legacies are recognised when notified if there is sufficient evidence that the legacy will be received and of the likely value. Interest is recognised when receivable.
Resources expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis. All expenditure has been classified under headings that aggregate all costs related to the category and includes attributable VAT which cannot be reclaimed.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 8
Heritage Concern Foundation CIO
Notes to the Financial Statements for the Year Ended 31 March 2021
......... continued
Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent Examination fees and costs linked to the strategic management of the CIO.
Page 9
Heritage Concern Foundation CIO
Notes to the Financial Statements for the Year Ended 31 March 2021
......... continued
2 Voluntary income
| Donations and legacies Donations Donation in kind |
Unrestricted Funds £ - - - |
Restricted Funds £ - - - |
Total Funds Year Ended 31 March 2021 £ - - - |
Total Funds Year Ended 31 March 2020 £ 170 25,000 |
|---|---|---|---|---|
| 25,170 |
Voluntary income in 2020 included unrestricted funds of £25,170.
3 Total resources expended
| Direct costs Accountancy fees Examiners fee Legal fees Motor vehicle expenses Bank charges Motor depreciation |
Direct charitable expenditure £ - 720 13,509 2,079 60 6,250 22,618 |
Total 31 March 2021 £ - 720 13,509 2,079 60 6,250 22,618 |
Total 31 March 2020 £ 2,061 500 - 2,168 60 6,250 |
|---|---|---|---|
| 11,039 |
Included within direct charitable expenditure is £21,898 (2020 - £8,478) relating to support costs and £720 (2020 - £2,561) relating to governance costs. All expenditure for 2021 and 2020 related to unrestricted activities.
4 Trustees' remuneration and expenses
No trustees received any remuneration during the year. Expenses re-imbursed to trustees are detailed in note 7.
5 Employees' remuneration
The Charity employed no staff during the period.
Page 10
Heritage Concern Foundation CIO
Notes to the Financial Statements for the Year Ended 31 March 2021
......... continued
6 Creditors: Amounts falling due within one year
31 March 2021 31 March 2020 £ £
Accruals and deferred income
1,176
- 7 Related parties
Related party transactions
During the year the charity received no donations from any related party (2020 - Landrover with a probate value of £25,000).
During the year expenses totaling £306 were reimbursed to David Butler in connection with running costs of the Landrover (2020 - £2,168).
Page 11
Heritage Concern Foundation CIO
Notes to the Financial Statements for the Year Ended 31 March 2021
......... continued
8 Analysis of funds
| General Funds Donations and direct costs Restricted Funds Donations General Funds Donations Restricted Funds Donations |
At 1 April 2020 £ 162,258 85,992 248,250 At 1 April 2019 £ 148,127 85,992 234,119 |
Incoming resources £ - - - Incoming resources £ 25,170 - 25,170 |
Resources expended £ (43,618) - (43,618) Resources expended £ (11,039) - (11,039) |
At 31 March 2021 £ 118,640 85,992 |
|---|---|---|---|---|
| 204,632 | ||||
| At 31 March 2020 £ 162,258 85,992 |
||||
| 248,250 |
Restricted funds held are in relation to the Spiders Web Appeal
9 Net assets by fund
| Fixed assets Current assets Creditors: Amounts falling due within one year Net assets |
Unrestricted Funds £ 12,500 107,316 (1,176) 118,640 |
Restricted Funds £ - 85,992 - 85,992 |
Total Funds 31 March 2021 £ 12,500 193,308 (1,176) 204,632 |
Total Funds 31 March 2020 £ 18,750 232,447 (2,947) |
|---|---|---|---|---|
| 248,250 |
Page 12
Heritage Concern Foundation CIO Notes to the Financial Statements for the Year Ended 31 March 2021
| ......... continued | |
|---|---|
| 10 Fixed assets | |
| Motor | |
| Vehicles | |
| £ | |
| Cost | |
| As at 1 April 2020 | 25,000 |
| Additions | - |
| Disposals | - |
| ______ | |
| As at 31 March 2021 | 25,000 |
| ===== | |
| Depreciation | |
| As at 1 April 2020 | 6,250 |
| Additions | - |
| Disposals | - |
| Provision for year | 6,250 |
| ______ | |
| As at 31 March 2021 | 12,500 |
| ===== | |
| Net Book Value | |
| As at 31 March 2021 | 12,500 |
| ===== | |
| As at 31 March 2020 | 18,750 |
| ===== |
Page 13