REGISTERED COMPANY NUMBER.. CE014008 (England and Wales) REGISTERED CHARITY NUMBER.. 1178249 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 FOR SEPTAGON CHARITY LEES Chartered Certffied Accountants Ingram House Mèridian Way Nowich Norfolk NR70TA
SEPTAGON CHARrrY CONTENTS OF THE FINANCJAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Report of th8 TrLLqtses 1 to 2 1nden(knnt Examinorfs Report Staternent of Flnanclal A¢tiviti85 BaE8nce Slwet Note5 to the Financlal Statem$nts 6 to 10 Detsi18d Statement of Financial Activitles
SEPTAGON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 Th8 Trustees psent their report wrth the financial ststemen15 of the charity for the year ended 5 April 2024. The Twsls have adopted the provi$ion5 of Accountiw and Reportsng by CharitS.. Stalernent tsf Recommended Practice applicab lo charilles pparIng Iheir acctsJnts in a¢¢ordanTr with United Kingdom Accounti Stsndards Iunited Kirodom Generally Accepted A¢o)unling practi). OWECTNES AND ACTIVITIES Oblectlves and airn5 We have Irpd to follow a number of principles in running wr ch8rity. The first Is to keep Ihe costs down as muth as possible. S¢, we hsve no web811e, offices, special slatK>nery, or employees, and no re than Ihfft trus18es. Time and money sp8nl on admini8tralk)n means less lirne and money going to Ise we rnighl help. The second is to try and help ch2riles which 8re Ihemselvos vuln&rable and fearful of closure. In fact, Seplagon has given lo well4stsblish8d and to kss wdlstablished Charit5. but In a few cases we have been pleased to have given to eharilies that might have closed down without our help. The third 15 to ty and keep a dose relationship with whatever charity we support. This b not afvays easy. Charity workers are n&8rty always very dICated and very busy. and one is fearful of en¢roaching too much on their b"ff*. Th&ir work Is often Confldenlral, 50 that one cannot be brought In as an observer. We have to prefer C81 charilles ov8r ones furtherway, othewise there would be travel than we couhj mana. Fourthty, we have adhe to the basic Septsgon 'mission ststsmenv, lo fund b(al organi5a1ns commrtted to helping Ihe poor and vulnerable in oursoa8ty Over the years we have observed that while making grants whith vary gieatty in $Ee, and to organisalions whith are quite disparate in fun¢lion, a common feature 15 the need to fftale. or ty lo ueale, a yense of communty in the inueasingly fragrrÈntsd worFd in whid) we are liv&. ACHIEVEMENT AND PERFORMANCE Charitablo activltles From Ils inception 8nd up lo April 2024, Septsgon has rnade around go $8parate awards lo around 40 drfterenl organisab'ons The average award size is about £20,000, but they have varied from £1.000 st the bwer end to lin one ca8el 2n award of £200,CQO. Total awar(Is sinc8 inception add up lo over £1.8 million. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document The charity Is registered as a Ch8ri18ble Incorporated organi5aln ICIOI and $ ¢onlro118d by its consltution, as defined by the Companie8 Act 2006 and Charilres Act2011. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number CE014008 (England and Wabsl Registered Charlty number 1178249 R89ister8d office 49 Park Lane Notwich Norfolk NR2 3EF Trustees Dr M Port8r MrsRAPort Mr I Couzens Ind8pendent Examlner Anthony Brain LEES Chartered Certffjed Accountants Ingram House Meridi8n Way Norwich Norfolk NR70TA Page 1
SEPTAGON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 Apptoved by ord&rof the board oftrustees on ...3..o. and signed on its behaw by. Dr M Porter- Trustee Page 2
INDEPENDENT EXAkllNER'S REPORT TO THE TRUSTEES OF SEPTAGON CHARITY Independent examine$ pOrt to the tru5te8s of Septagon Charity I'tho Company'l report to th8 charity Irusts on my examinatson ofthe accounts of the Company for tre yeaf ended 5 2024. Resp0rn8ibilities and basis of report As the charity's trustee5 of the Company land also ils d1clOr$ for the putpos8s of company lawl you are SponSIb for the preparation of the accounts in ar£ordance wllh wuiiemenls of th& Cornpanes Act 2006 Ilhe 20 Act'l. Havirpj sath"sfied myself that Ihe accounts of the Company a not required to audit8d undèr Part 16 of kne 20ffi A and are eligible for independanl examination. I pOrt in re$ct of my &x8mina.on of your charlty's accounis a$ c8rri8d out under s8cb.on 145 of the Charities Act 2011 I'lhe 2011 Act'l In carrying out my examination I have followed the Directions gwen by the Charity Cornm10n und&r Section 145151 Ibl ofthe 2011 Act. Indopendent examineffs statement I have completed my examination. I confim th8t no matte15 have come to my 8¢tenlion In connection with the examination giving me ¢8use to believe" accounting records were not k8pl in respect ofthe Company as required by seCtn 386 of the 20Cf Act". or tt)e a¢rUnIS do not accord wrth those records., c the accounts do not cornpw with the a¢¢ounling iequir6m8nts of Section 396 of the 2W6 A¢1 ott)er than any requirement that the accounts give a tru8 and fair view whrh is mt a matter consvjered 85 Part of an ndependent examination., or Ihe >cU have not been prepared in accrydan with the method5 and prinaples of the Statement of Recommended Pr8clir2 for aceounling and repotting by charities 18ppli¢abk to Charities preparing th&ir aCtntS In accordan with the FinaTTrcial Reporting Standard applicable in the UK and Republic of IreLqnd IFRS I have no conrrn8 and have come auoss no other matters in connection the exatn1na1n to whith attention 8hould te drawn In this report in order to enable a prop8r understandin9 of accounts to be reach8d. Anthony Brain LEES Chartered Certified Accountants Ingram Hous8 Mer7n Way No1¢ Norfok NR70TA Date.. Page 3
SEPTAGON CHARITY STA TEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2Q24 2024 Unrestricted fund 2023 Total fiJnd$ Notes INCOIIJE AND ENOOWMENTS FROM Donations ar legacie5 125.0 140,112 Investment incom? 12,5e6 31,044 Totsl 137,586 171,156 EXPENDITURE ON Raising funds 13,117 9,427 Charitak4e actlvltles Donations to ch8rth8S 386,700 347.240 Total 399,817 356.667 Net gaD9/{lo$SesI on Investtnents 121,4T2 1101,3441 NET INCOMEIIEXPÉNDITUREI 1140,7791 I286.5) RECONCILIATION OF FUNDS Total furHJ5 brought foward 1.262.214 1,549.069 TOTAL FUNDS CARRIED FORWARD 1,121,435 1,262,214 The notes form part of these finanoal statements Pag8 4
SEPTAGON CHARITY BALANCESHEET S APRIL 2Q24 2024 Unresiricttrj fund 2023 Total funds Notes FIXED ASSETS Investments 839,CQ9 1.213.498 CURRENT ASSETS Cash at bank 287,982 54.319 CREDITORS Amounts falling duè within orÉ year 15,5561 15.6031 NET CURRÈNT ASSETS 282,428 48.716 TOTALASSETS LESS CURRENT LIA8JLITIES 1,121,435 1,262.214 NET ASSETS 1.121,435 1,262.214 FUNDS Unreslrided fuNJs 1,121,435 1.262,214 TOTAL FUNDS 1.121.435 1,282,214 The ¢haritabk company is eniitw to exemption from audit under sects.on 477 of the CompanES Act 20C6 for the year ended S April 2024. The membets have not reouited the cornp8ny lo obtain an audit of its financial statements for the year ended SApril 2D24 in accordan with S8clion 476 of the Companies Act 20. Thè trustees acknowledge I1r responsibilit$ for lal ensuring that the charitable company keeps a¢cntsng rordS Ihat comly Sections 386 and 387 of the CornpanEs Act 20(6 and pr8psrirvJ finanal statements which give s true 8nd fair vw of the state of aff8irs of the Charitab company as at th8 end of each financial year 8nd of its Surplus or defiat for each financial year in accordance with the reqU1ments of SectiorE 394 and 395 and which olherwse mplY with the quiremlS of the Companles Act 2006 lating lo financial statements, $0 far as applicable lo the Charitab Company. Thes8 finanaal $tatements have been prepared in accordance with provisions appli¢aNe to charitable companies 8vbJ"e¢tto the small o)mpanies TEgirne. The financial statements We approved by the Board of Trustees and aulhorised for issue on S>11/ &•&5 . and were sign8d on its behalf by.. Dr M Porter- Trustee The notes fom part ofthe5e finanaal stateffents Page 5
SEPTAGON CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 ACCOUNTING POUCIES Basis of preparing the finaTrclal ststement5 The financial statements of the ch8fil8ble ¢oryany. which 8 public berefit entity undèr FRS 102, have been wepared in accordance with Charitie5 SORP IFRS 1021 'Aceounting and Reporting by Chariti88.' Statement of Recommended Practs applicable to charities pparing their account8 in accordan with the Financial Reporting StaNJard applicabl8 In th& UK and Republic of Irel8nd IFRS 1021 leffective 1 January 20191,, Financial Reporting Standard 102'The Finanual Reporting StarKJard appli¢aile in the UK and Republic of Ireland, and the Companies Act 2006 The financial stalernents h2ve been prepared und&r the historic21 ¢ost convention, with the expIlOn of investmen15 which are included at matkei value, as modified ty the revaluation of rta1ft sssets. In¢ome l income is regnised In the SlateTn8nl of Fin2ncial A¢tlvll¢S once th8 chanty ha$ entitlement to the funds, il 1$ probabk tt)at income will be receiv8d and the amount can be measured reliably. Expendtture Liabilib"es are recognised as exp8nditure a8 soon as Iherè 15 a kgal or conslruclive obligation committing the ¢harty to that eXpe[rtUre, it 18 probable tt)at a Iian8fer of economi¢ benefits will be required in ettment and the amount of the obligation Can be rnea5ured rel18y. Expenditure 15 accounted for on an ac¢ruals bas15 and has been cla$$ified under h&adings Ih2t 8ggregaie all cost rela18d to the category. Vvhere costs csnnot be diredy attrit¥Jl8d to particular ading$ Yiey have 8 allocated to a¢tiwties on a basis consistent with tt)e use of resourc8S. Taxation The Charity is exempt frorn corporation tsx on Its charitatl8 activitss. Fund accoLtnting Unie$tll¢ted funds can used in acXOrdan With the charitable obiecbves at the discretion ofth8 tru8te&8. Restricted funds can only be used for partscubr re$tricted wrposes within the objects of the d)arity. Restrictn$ arise when Sfied by the donor or when fund5 are rai88d for partl¢ular resthcted purposes. Furtr*rexplanation of the nature wrp08e of each fund 15 Includ8d in the notes to the financial staternènls. Investments LBted Inve81menls are a fomi of basic fin8ncial instrument and are initially recognised al their ton$a¢lion value and subsequenmy measured al their fair value as at the balance 8heel dale using the c105ing quo18d market pri. The charty does not acquire pul options. derniative& or other ¢omplox finarEci81 instruments. RealiEed gain5 lor 1085esI on investmeni asstrts are calcuL8ted as the difference ts8??n disposal proceeds and their eniro carrying value or their purchase value If acquired subsequent to Y)e first day of the financial year Unrealised gains and 105se5 8re Calculat as the drffer8nce bebmeen the fair value at Ihe year end and Iheir Carrying v81ue at that d8te. Realwl and unrealised investment galns lor1055es1 are combined in the stat8ment of financial actiwtie8 2nd are ¢lled lor debitedl In Ihe year in whith Ih8y arise. Other Investments are induded at WSL which is Consered to be approximate to Ihelrmètkel valu8. INVESTMENT INCOME 2024 20 Grfc ald interest Interest receivable Investment income 919 4.290 7.357 231 9,440 21,373 12.568 31,044 P&Je 6 continued...
SEPTAGON CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2024 TRUSTEES. REMUNERATION AND BENEFITS There w8r8 no trust8es' remunefation or oth8r benefits for the year end8d S April 2024 nor for Y)e year ended 5 April 2023. Trustees. èxwns85 The were no trustee8' 8xp8n8es paK1 for the yearended 5 April 2024 norforthe yearendèj S April 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unr&stri¢ted fund INCOME AND ENOOWMENTS FROM Donations and legaues 140,112 Investment income 31,044 Totsl 171.156 EXPENDITURE ON Raising fund5 9,427 Charitable activitios Donatsons to charitie5 347,240 Total 358,667 Net gainslllossesl on investrnènts 1101.3441 NET INCOMEI(EXPENDIYUREI 1286,8551 RECONCIUATION OF FUNDS Total funds brought forward 1,549,069 TOTAL FUNDS CARRIED FORWARD 1,262,214 FIXED ASSET INVESTMENTS 2024 2023 Shares Bank account 831.515 7,494 1.173.044 40,454 839,CK)9 1,213.498 Page 7 continued...
SEPTAGON CHARITY NOTES TO ThE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 5 APRIL 2024 FIXED ASSET INVESTMENTS- Contlnued Addilional infomialion as follows." Listed In5thents MARKET VALUE Al 6 April 2023 Additions Disposals Revaluations 1,173,044 36.999 1500,0001 121,472 AI 5April 2024 831,515 NET BOOK VALUE At 5 Aprll 2024 831.515 At S April 2023 1,173,044 There wère no invesknenl assets outside the UK. Cost 0rv2luatn at 5 pyril 2024 1$ represented by.. Listed investsnents Valuation in 2024 1,515 Inveslments Inerther1Ssled nor unlisted) We a5 follows.. 2024 2023 Bank aOUnt 7,494 40,454 CREDITORS.. AMOUNT5 FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Attrued eXnS85 3,456 2,100 3,503 2,100 5.556 5.603 MOVEMENT IN FUNDS Net movement in funds Al 5.4.24 Ate 4.23 Unrestricted lunds General fu 1.262.214 114D,rnI 1,121,435 TOTAL FUNDS 1,262,214 1140,7791 1,121,435 Prfe8 nlinued...
SEPTAGON CHARITY NOTES TO THE FINANCIAL STATEklENTS. cOntinLd FOR THE YEAR ENDED 5 APRIL 2024 MOVEMENT IN FLINDS- contlnued Nel movement in funds, included in tha above a as follows.. Incoming re$ource5 ReSoUrS expended Gains atKI bsses Movement in funds Unrestrlcted lunds General fund 137.566 1399,8171 121.472 1140.7791 TOTAL FUNDS 137,566 1399.8171 121,472 1140,7791 Comparatives for movement in fund5 Net mov8ment funds Al 5.4.23 At6.4.22 Unwtrictod funds General fund 1.549,069 I286,8) 1.262,214 TOTAL FUNDS 1,549,069 1286,8551 1,262,214 Comparative n8trnovement in funds, includ8d In the abo¥e are as fc4lows.' Incoming re80urces Resour 8xp8nd8d Gain8 antt losses Movement in funds Llnrtstrictèd funds General fund 171,158 1356,6671 1101.3441 I286,8) TOTAL FUNDS 171,1 1356.e671 1101,3441 1286.8551 A Current ye&1 12 months 8nd prKir year 12 months combined p0511ion is as follows. Net moveTnenl in funds At 5.4.24 At 8.4.22 Unr8strict8d funds General fund 1,549,C69 I427.4) 1,121,435 TOTAL FUNDS 1,549.069 1427.6341 1,121,435 A current year 12 months and prior yèar 12 month5 combined net movernent in funds, included in obove are as follows. Incorning resour$ Resourcès expEnd Gains 2nd 10s8es Movement in furA8 Unrestricted lunds General fund 308,7 1756,41841 20.128 1427.e341 TOTAL FUNDS 308,722 (756.4841 20,128 1427.6341 Page 9 continued...
SEPTAGON cHARy NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRIL 2024 RELATED PARTY DISCLQSURES During the peiiod the charity was ¢harg6d £3,500 for ac¢ountancy 5etvies by a company of whKh the trustee, lan Couzens, is a director and majority shareholder. Pag810
SEPTAGON CHARrrY DETAILED STATEMENT OF FINANCIAL ACTMTIÉS FOR THE YEAR ENDED S APRIL 2024 2024 2023 INCOME AND ENDOWMENTS OonatiorB and legacies Trustee donations Grfl aid tax credit 80.000 45.000 1CrfJ,(O 40.112 125.000 140,112 Inveslmont income Gift aid Interest Interest re1¥able Inve5tm8nl incorne 919 4.290 7.357 231 9,440 21.373 12,566 31,044 Total incoming resourc 137.566 171,156 EXPENDITURE CharitslAe a¢tivitie5 Charitsble donations 386,700 347,240 Supportcosts GoveThanc8 costs Accountancy and legal fees Inv8Stment man3gers' f8es 5.509 7,608 5,543 13,117 9,427 Total resources expended 399,817 356.667 Nat expenditure before galns and Itsss8S 1262,2511 1185,5111 Reallseil recognlsed gains and losses Re81rs8d g81n8llbssesl on fixed asset Investments Unrealised gainsllloss8sI on investments 50.111 71.361 173,9941 127,3501 N8t expenditure 1140,7791 1286,8551 This page does notfomi part of thè statutory fin8naal statements Page11