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2023-03-31-accounts

Company number: 10532662 Charity Number: 1173108

The Tim Bacon Foundation

Report and financial statements For the year ended 31 March 2023

The Tim Bacon Foundation

for the year ended 31 March 2023

Company number 10532662

Charity number 1173108

Registered office and operational address 98 King Street Knutsford Cheshire WA 16 6HQ

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Jeremy Roberts Chair Alec Guthrie Chris Hill David Mansbridge Michelle Gandy Peter Martin Lucy Noon-Blake (appointed November 2022) Thom Hethrington (appointed November 2022)

Key management Alec Guthrie personnel Michelle Gandy David Mansbridge Jeremy Roberts Bankers Santander Bootle Merseyside L30 4GB Solicitors Pinsent Masons 55 Colmore Row Birmingham B3 2FG Independent Jennifer Daniel FCCA DChA examiner Slade & Cooper Limited Beehive Mill, Jersey Street, Manchester, M4 6JG

1

Tim Bacon Foundation

Trustees’ annual report

for the year ended 31 March 2023

The trustees present their report and the unaudited financial statements for the year ended 31 March 2023. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The Tim Bacon Foundation’s main purpose is to make grants and/or payments to charitable organisations dedicated to relieving sickness and preserving and protecting the health of members of the general public suffering from cancer.

Such grants and/or payments are to be used in accordance with the recipient organisation's charitable purposes and for the public benefit. The Foundation will undertake a regular review of the charitable organisations it benefits and could potentially benefit, to ensure they remain an appropriate means of advancing the charitable purposes of the Foundation and having regard to the public benefit requirement.

During the period ending 31 March 2023, the funds raised by the Tim Bacon Foundation were to be donated to nine charities following the Dream the Impossible The Sequel event held in September 2022.

Two corporate partnerships ran in the year ending March 2023, the first being The Alchemist and Blood Cancer UK. The Tim Bacon Foundation supported fundraising and donated £10,331 to provide for a full time Clinical Support Nurse to help patients manage their physical, mental, social and financial wellbeing to June 2022. The second corporate partnership with Gusto Restaurants and Young Lives vs Cancer ran for the year ending March 2023, with the project aim to raise £100,000 to support families and young children through their journey with cancer.

Lastly, The Tim Bacon foundation held a large fundraising event in Manchester City centre in September 2022, Dream the Impossible, The Sequel. The event brought together eleven city centre restaurants and nine charities supported by national corporate businesses to host an evening dedicated to raising funds for cancer charities. The event resulted in the nine charities receiving a profit share of £383,000.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

2

Tim Bacon Foundation

Trustees’ annual report

for the year ended 31 March 2023

Achievements and performance

The charity's main activities and who it tries to help are described below.

All its charitable activities focus on charitable organisations dedicated to relieving sickness and preserving and protecting the health of members of the general public suffering from cancer and are undertaken to further Tim Bacon Foundation’s charitable purposes for the public benefit.

Financial review

Fundraising for the year ended March 2023 exceeded our expectations with Dream The Impossible, The Sequel, sporting events, conferences and awards ceremonies.

By mitigating costs by way of a robust review by trustees and utilising our charity and corporate partnerships, The Tim Bacon Foundation successfully achieved full fundraising capabilities and maximised profit generated from fundraising events.

The Tim Bacon Foundation has maintained a strong cash position throughout the year and at the financial period end.

Reserves policy

The trustees aim to maintain designated reserves within unrestricted funds at £30,000. The trustees consider that this level will provide sufficient funds to assist in generating fundraising events and cover any ongoing operational costs.

Plans for the future

The Tim Bacon Foundation has committed to supporting cancer charities with the support of the hospitality industry and will continue to work on new projects to maximise fundraising opportunities. The board of Trustees is looking towards key fundraising projects to enable hospitality partners multiple options to support a chosen cancer charity. This will include the current Corporate Partnership scheme.

3

Tim Bacon Foundation

Trustees’ annual report

for the year ended 31 March 2023

Structure, governance and management

The Tim Bacon Foundation is a company limited by guarantee, incorporated on 19 December 2016 and registered as a charity on 18 May 2017.

The company is established under a Memorandum of Association and is governed by its Articles of Association which set out the objects and powers of the charitable company.

The company is managed by the trustees and directors who constitute its management committee. All trustees and directors are unpaid. New trustees are appointed by the existing trustees.

The organisation is a charitable company limited by guarantee, incorporated on 19[th] December 2016 and registered as a charity on 18[th] of May 2017.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.

Risk management

The trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks.

4

Tim Bacon Foundation

Trustees’ annual report

for the year ended 31 March 2023

Statement of responsibilities of the trustees

The trustees (who are also directors of Tim Bacon Foundation for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Board on //2023 and signed on its behalf by

David Mansbridge Director

Jeremy Roberts Director

5

Independent examiner’s report

to the trustees of

Tim Bacon Foundation

I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] March 2023 which are set out on pages 7 to 15.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jennifer Daniel FCCA DChA Slade & Cooper Limited Beehive Mill, Jersey Street Manchester, M4 6JG

Date //2023

6

The Tim Bacon Foundation

Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2023

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
557,677
Investments
-
-
Total income
557,677
Expenditure on:
Raising funds
4
129,816
Charitable activities
5
447,394
Total expenditure
577,210
7
(19,533)
Transfer between funds
-
Net movement in funds for the year
(19,533)
Reconciliation of funds
Total funds brought forward
158,954
Total funds carried forward
139,421
Net income/(expenditure) for
the year		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2023
£
557,677
-
557,677
129,816
447,394
577,210
(19,533)
-
(19,533)
158,954
139,421		 Total funds
2022
£
81,618
-
81,618
9,660
37,861
47,521
34,097
-
34,097
124,857
158,954

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

7

The Tim Bacon Foundation Company number 10532662

Balance sheet as at 31 March 2023

Note
£
£
Current assets
Debtors
11
20,288
Cash at bank and in hand
12
128,981
Total current assets
149,269
Liabilities
Creditors: amounts falling
due in less than one year
13
(9,848)
Net current assets
139,421
Net assets
139,421
The funds of the charity:
Restricted income funds
-
-
Unrestricted income funds
14
139,421
Total charity funds
139,421
2023		 £
£
28,079
138,075
166,154
(7,200)
158,954
158,954
-
158,954
158,954
2022		 £
£
28,079
138,075
166,154
(7,200)
158,954
158,954
-
158,954
158,954
2022
158,954
-
158,954
158,954

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS102 SORP, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

Approved by the trustees on //_____ and signed on their behalf by:

David Mansbridge (Trustee)

Jeremy Roberts (Trustee)

8

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements.

The Tim Bacon Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trtustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

9

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023 (continued)

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

10

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023 (continued)

h Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

i Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

j Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k Cash at bank and in hand

Cash at bank and cash 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.

l Creditors and provisions

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 the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered office address is disclosed on page 1.

11

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023 (continued)

3 Income from donations and legacies

Current reporting period
Donations and legacies
Gift aid
Total
Previous reporting period
Donations and legacies
Gift aid
Total
4
Cost of raising funds
Events costs
Sales and marketing costs
Other fundraising costs		 Unrestricted
£
557,677
-
557,677
Unrestricted
£
80,800
818
81,618
2023
£
128,446
737
633
129,816		 Restricted
£
-
-
-
Restricted
£
-
-
-
2022
£
7,603
1,574
483
9,660		 Total 2023
£
557,677
-
557,677
Total 2022
£
80,800
818
81,618

All expenditure on cost of raising funds is unrestricted.

12

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023 (continued)

5 Analysis of expenditure on charitable activities

Grants made
Bury Cancer Support Centre
Bloodcancer UK
Maggies
The Christie Charitable Fund
Joshua Tree
Teenage Cancer Trust
Marina Dalgleish Appeal
Prevent Breast Cancer
Young Lives vs Cancer
Governance costs (see note 6)
Administration and support costs
Insurance
Bank fees
Travel & Accommodation
Professional Fees
6
Analysis of governance costs
Current reporting period
Independent examination
7
Net income/(expenditure) for the year
This is stated after charging/(crediting):
Other costs
Independent examiner's fee		 2023
£
17,486
10,331
53,722
130,048
39,964
18,132
2,201
63,024
85,851
1,824
2,152
1,078
59
2,017
19,505
447,394
2023
£
1,824
1,824
2023
£
1,824		 2022
£
-
17,460
1,434
-
-
-
-
-
1,680
1,980
614
38
1,408
13,247
37,861
2022
£
1,680
1,680
2022
£
1,680

8 Staff costs

There were no employees during the year (2022: None)

13

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023 (continued)

9 Trustee remuneration and expenses, and related party transactions

Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2022: Nil).

No members of the management committee received travel and subsistence expenses during the year. (2022: Nil).

No donations from related parties. (2022: Nil).

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2022: Nil).

10 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

11 Debtors

Debtors
Donations receivable
Prepayments and accrued income		 2023
£
19,822
466
20,288		 2022
£
12,846
15,233
28,079

12 Cash at bank and in hand

Cash at bank and on hand 2023
£
128,981
128,981		 2022
£
138,075
138,075

13 Creditors: amounts falling due within one year

Trade creditors
Other creditors and accruals		 2023
£
-
9,848
9,848		 2022
£
5,520
1,680
7,200

14

The Tim Bacon Foundation

Notes to the accounts for the year ended 31 March 2023 (continued)

14 Analysis of movement in unrestricted funds

Balance
at 1 April
2022
Income
£
£
158,954
557,677
158,954
557,677
Balance
at 1 April
2021
Income
£
£
124,857
81,618
124,857
81,618
15
Analysis of net assets between funds
Current reporting period
General
fund
£
Net current assets/(liabilities)
139,421
Total 2023
139,421
Previous reporting period
General
fund
£
Net current assets/(liabilities)
158,954
Total 2022
158,954
General fund
General fund
Current reporting
period
Previous reporting
period		 Expenditure
£
(577,210)
(577,210)
Expenditur
e
£
(47,521)
(47,521)
Designated
funds
£
-
-
Designated
funds
£
-
-		 Transfers
£
-
-
Transfers
£
-
-
Restricted
funds
£
-
-
Restricted
funds
£
-
-		 As at 31
March 2023
£
139,421
139,421
As at 31
March
2022
£
158,954
158,954
Total
£
139,421
139,421
Total
£
158,954
158,954

15