Charity registration nUMr. 1178930 The Gareth Neame Foundation Annual Report and Financ¢al Statements lor the Year Ended 31 March 2024 DSK Partners LLP D S House 306 High Slreet Croydon Surrey CRO 1NG
The Gareth Neame Foundation Cont8nts (continued) Reference and Administrative Details Tru$lees' Report 2to5 IrKlependent Exxminerfs Report Statement of Financial A¢b"vities StatemÈnl of Finanual Positson Nolgs to the Financial Statements 91014
The Gareth Neame Foundation Reference and Administrative Details Trustees B Wliams C Stothatd G Neame W Townrow Ms O Long Principal Office Elsley Court 20-22 Great rrt¢hfigld Str1 London W1W 8BE Charlty Reglstratlon Mumbèr 1178930 Regl$teT¢d CIO numb•r CE014426 IndendOn1 Examingr DSK Partners LLP DSHous 306 High Street Croydon Surrey CRO 1NG Paye 1
The Gareth Neame Foundation Trustees, Report The trusteas presènt thèir report the fInants statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of AGGounting and Reporting by Charilie5.' Statement of Recommended Practice applicable to tharities praparing thèii accounts in accordance wilh the Finan¢i31 Reporting Stsndard applicable in the UK and Republic ol Ireland {FRS 102) (effective 1 January 20191. The trustees present the annual repNt together with the finarK4al stslements of the charsty for the year ended 31 Marth 2024. The accounts have been prepared in accordance with the a¢counb"ng policies sel out in nule 1 to the a¢¢ounl$ and comply with the governing documenl. the Charities Acl 2011 and 'Accountin9 and Reporting by Chatib"es.' Statement of Recommended Practise applicable to charities preparing their a¢counts in aOrdanCe with the Financi81 Reporb"ThJ Stsndard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods eommen(ing from 1 January 2016). Obj•ctiv8s and aeuvltks Objectives andpolici The principal objective of the charity is to appty income and all or su(th part gr parts of the capital of the CIO, at su¢h lime or times and in such manner to. or for ihe benefit of such exdusively charilable objeds and purposes in any part of the worfd as the Iruslees may in their disc¥etion think fil. Publle bénèlit Trustè93 have paid due regard lo the guidance on public benefit PToduced by the Charity Commission and are confident Ihal the work of the ¢Jhartty meets all the crtteria for public benefit. Giant making policies The trustees consider grant making an effective means of athie¥Mng the charitys objects for the public benefit to improve the ¢onditions and fve5 of people through education, advice and training. All grant proposals must be made in writing. Proposals must explain in delail lThJw the grant will be used and put forward a strong case for supwt. The Ghaiily trustees welcome proposals Ihal support iheir fvnding priorities from organisations and indiv[du$. allhou9h the Irvslee5 are particularly keen lo support the following sectors.. education in music & drama. young peopl•, consetvation & herita. the arts generalty. veterans and cadets. Page 2
The Gareth Neame Foundation Trustees, Report Icontinued) Achlevements and perfOrnnce Kèy financial pèrfom)ance indicators Thè charity trustees will take steps to monitor the use of the grant and verify that the grant is used for the purposes that have been agreed. The arrangenIS for monitoring wll vary according lo the naturè of t grant, bul the Charity trustees aayS wk to ensure that the arrangements are appropriate a proportionate. Arrangements for monitoring use of the grant may indude a$king the wipienl to provide copies of formal records.rÈgular written or verbal updatès showng progress to date. management accounts to show that funds have been used for the purpose for whth they have been awarded and in accordance wth the terrns of the grant and a final wfitten report on cornpkb.on of the wotk lunde(I by the grant. Review of activities Durin9 the period, the tharity reVed tstal donab'ons of£350. The charity supported 13 different organisattons in the year. donations totalling £55.000. In line with the Gharity's objectives the Iruslees made the following donations.. £S.000 to TGFSL - Together for short lives, £5.000 lo The Ulysses Tru51, £2.500 to Household Cavalry Foundation. £l.000 lo SeGrel Garden, £12,000 lo Trinity Laban Conservatoire of Musi¢ & Dan¢e. £2.000 to the R¢>yal Eirmingham ConseNaloire Tmst. £10.000 to the UnN8rsity of Birmingham. £2.000 to Royal Briiish LegK*n, £2.000 to ABF Charitable Trust, £1,000 to The Garrick Charitable Trust. £2.000 lo Pallanl House Gallery, £500 to Romney Marsh Hisloiic Churches Trust, £10.000 to the Royal Central Schod of Speech and Drama. Financlal revlew At the slalemenl of finanual position dale. Ihe funds avaikqble for distsibulion we as ftTrllc>ws.' £1,273,400 of unrestrictèd funds: £MIL of restricted funds. Princlpal fundlng sources The foundation is primarily lunded by Garelh Neame. Pollcy on resems The trustees aim to mainlain reserves at a levd which would cover any future commitmenls 01 expenditure. The trustee$ consider that the amount wll diJate future donations 8nd will consist of donations recé1 by the tharity whTrd) are yet to be donat&d to individual charilies and causes. The teserve5 al the end of the financial peri(xJ We £1.273.400. Page 3
The Gareth Neame Foundation Trustees. Report (contlnued Golng conceTn After making appropriate enquiries. Ihe trustees have a reasonable expedalion that Ihe charity has adequate resourcès to etrntinue in operalional existen for the foreseeable fulurg. For this reason they ¢ontinue lo adopt the going concem basis in preparing the finanaal statements. Furthèr dètsils règarding thè adoplion ofthe going concem ba$1$ can be found in the Accounting Pdicies. Futuro d•v?lopment Th& funding of the charity wll conbnue to be revtewed. The trustees exwt to make donations to organisations and individuals the aim of improving the INe$ of indimduals, in line with the charity's objectives and aims. Strn¢turoi govgmance and managemonl Nature ofgovernlng documont The charily is controlled by its goveming document. a deed of trust and conslrtul&$ an unincoTporaled thaiity. Constitution The charity 1$ an incorporated foundab"on, con5tiluted under a Foundation CCSt1t(rt10n dated 26 Junè 2018 and is a rÈgislered charity in Ihe United Kin9dom. ¢hartty numbw 1178930. Re¢rullment and appointmentof trnsteès Thè managemènt of the chaiity is the iesponsilm.lrty of the trustees who are elected and ¢)>opted undér the terms of the Charitable Incorporated Organisation ConstittAb"on. Organisational structure and deeiTsion making Al the annual Irustees, m¢elin9. Ihe trustees agree the board strategy and arèas of for the foundation, includir¥J consideration of grant making. invèstment. ieserves and iisk management policies and perfotman¢e. The day lo day administratron ofdonations is d&g8ted lo the administralor. Inductlon aftd traiTning of trustees Trustees are encouraged tr) attend appropriate external training events where these wll facilitate the undÈrt8king oftheir role. Speufic training is wnducted as part of a board meeting where appropriate. Page 4
The Gareth Neame Foundation Trustees, Report (continued) rrustee's responsibility statemenl The trustees are responsible for preparing the TDJslees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounb"ng Prath"1 hnduding Finanrial Reporb"ng Standard 102 "The Finanaal Reporting Standard applicable in the UK and Republic of Ireland" The law applicable lo tharities in England and Wale5. the Charthes Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare finanryal statements for each financial year which give a true and fair view of the slate of affairs of the ¢harity and ol the incoming resouices and application of resouf¢es. induding the income and expenditure, ol the chaTity for that period. In preparing Ihose financial statements. the trnslees are required to select suitable accounting polic4es and then apply Ihem consb5tenUy". observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent.. prepare the financial statements on the going cDncem basis unless il is inappropriate to piesume that the charity will Gonlinue in business. The trustees are responsible for keeping proper acrDunting records whith disdose vrith rea3on8ble accuracy al any tirne the financial position of the charity and tts enable them to ensure thal the financial statements cornply with the Chanties Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They afe also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved by the truslees of the tharity on 2Yand signed on its bèhalf V@aiil4 B Williams Truslee Page 5
The Gareth Neame Foundation Independent Examinpr's Report to the trustees of The Gareth Neame Foundalion I report lo the charity trustees tsn my èxamination of Ihe a¢¢ounts of the ¢hJrity for the year ended 31 March 2024 which are sel out on pag•s 7 to 15. R•sponslbllltlès and ba$S$ of r¥port As the charity trustees of The Gareth N¢am¢ Foundation you are responsible for fhe preparation of the aount$ in accordance with the requirements of the chareS Ad 2011 1.thè Acl'l. I report in respect of my examinalion of the The Gareth Neame Foundation 's acrunts carried out under section 145 of the 2011 Act and in carwng out my examination I have fc4bwed all the applicable Directions given by the Charity Commission utwjw seclion 145{5}(bl of thè Act. Indèp•ndènt èxamifftor'$ Statsment I have completed my examination. l +x•nfim) thal no material matters have come to my attention in )nnection with the examinalion giwng me (3use to believe Ihat in any material r&spect'. accounting records were not kept in respect of The Gareth Neame Foundalion as required by section 130 of the Act., or 2. the accounts do not accord with those records", or 3. the aC¢LKJnls do not comply wlh Ihe accounting requirements conceming tha form and contènl of accounts set out in the Charibes (Accounts and Reports) Regulations 2008 other than any requirement that the accounis give a 'truè and fair whth is not a maller ¢onsidered as part of an indÈpendÈnl Èxamination. I have no concems and have come actoss no other matter5 in connection with the examination lo which attenb.on should be drawn in this repcffl in wder to enable a prOr undérslanding of the xecounl# to be reached. Romit Basu FCA DSK Partllers LLP D S Houstr 306 High Street Croydon Surrey CRO 1NG Date.. 2411012024 Page 6
The Gareth Neame Foundation statèmerrt of Financial Activities for the Year Ended 31 Pdiarch 2024 Unrestricted funds Total 2024 Tot81 2023 Nol• In¢omo and Endowmont$ from: Donation$ and legaaes Charitable activities Investment incowe Net gainlloss on investment 350 1,222 22,226 71.120 350 1.222 22.226 71.120 250,350 358 7,992 25,fj83 Total income 94.918 94.918 233,017 Expenditure on- Raising funds Charitable a¢tivitie$ Other expenditure (14.591} (57.676} 161 114,591) 157,676> 16) 112,2531 (102,0501 {32 Total expenditure 2.2731 172,2731 1114,3351 Net in¢ome 22.645 22,645 118,682 Net movement in funds 22,645 22,645 118,682 Reconciliation of funds Total rKI$ broughi forward 1.250.755 1.250,755 1,132,073 Total funds carried fOard 1,273.400 1,273,400 1,250,755 All ol the charity's activities derwe from continuing operations during the above periods. The funds brèakdown for 2023 is shown in notè 9. The notes on pages 9 to 14 fomi an integral part of these financial stalemenls. Page 7
The Gareth Neame Foundation (Registration number: 1178930) Statement of Financial Position as at 31 March 2024 2024 2023 Note Fixed assets Investments 1.216,032 1.130,270 Curr*nt assets Cash al bank and in hand 63,644 126,635 Crèditors: Amounts falling due within one year Nat currènt assets 16.276} 6,150 57,368 120,485 Nat assats 1.273,400 1,250,755 Funds of the charity= Unrtrstricted income funds Unrestncled lunds 1.273.400 1.250.755 Total funds 1.273.400 1.250,755 ancial statements on pages 7 to 14 were approved by the trustees, and aulhofjsed for issue on and signed on their behalf by". B Wi ams Trustee The notes on pages 9 to 14 fomi an integral part of these finan(ial statements. Page 8
The Gareth Neame Foundation Notes to the Financial Statements for the Year Ended 31 MarGh 2024 1 Accounting policles statgment of compliance The finanfyal statements have bn ppared in accordance with Aci>)unting and Reporting by Charities.. statement of Recornmended Pradice applicable to charities weparing thèir atUnts in aeLordance with the Financial Reporting Standard applicable rn the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191- ICharits"es SORP IFRS 1021). the Finanal Reporting Slandard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basls of preparatlon The Gareth Neame F(MJndabon meets Ihe definrtion of a publi¢ benefft enthty under FRS 102. Assels and liabilities are initially recognised at hi5toricaJ cost or transaction value unless othèrwise statèd in the relevant a¢¢ounb"ng polw notes. CurrgnEy Tho financial slatemerts are wepared in sterling which is also the fvnctional currency of the charity and rounded to the nearèst Pound. Going conc¢r The finanLYal statements have been prepared on a gorng concem basis as the trustees believe that no material UnrtaIntieS exist. The trustees have considered the level of funds held and the expected levol of incorne and expenditure for 12 months from authorising these finanaal statements. The budgeted income and expenditure is suffic4ent alon9 Wrth tha lev¢1 of r¢serves for the charity lo be able lo Continue as a going concern. Page 9
The Garelh Neame Foundation Notes to the Financial Slatements for the Year Ended 31 March 2024 Icontinued) Incomo and •ndowm•nts All income is recognised in the Statement of Finanaal Athvil'es once the chaTity has enlilbement to thè funds, it is probable that the income wll be reNed and the amount can be measured feliably. For Ia@s, enlitlemÈnt is takèn as the èarfiÈr of the date on which either.. the charity is aware that probate has been granted. the estate has been finalised and rlIf1¢8"0n has beèn made by the execulorls} to the trust that a distribution wll be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, only considgred probablo when Ihe amount can be measured reliably and the charity has bèen nolified of the exècuto¢s intention to make a dislribution. Where legacies have been notified to the charity. or Ihe charity is aware of the granting of probate. and the criteria for income recognib.on have not been mel. tren the legacy is treated as a contingent asset atMI dIsCSed if malorial. Donated services or faalrties are recognised when the charity ha5 control over the item. any ndItI()n$ as$oeAatéd th the don*ed itèm havè been mel. reeAipt of economic benefit from the use ol the charity of the item is probable and that economic benefit can be measured reliably. On refjoipt. donated professional seM¢¢s and dtsnat¢d faditi.es are recognised on the basis of the value of the gift to the charity which is the amcyjnl the charity would have been wlling to pay to obtsin 8ervice5 or facilities of equivalent economic benefit on the open market.. a corresponding amount 1$ then recognised in expenditure in the period of receipt. Income lax recoverable in relation lo donations received under Grft Aid or deeds of covenant ig reco9nisgd at the b'm¢ of the donalion. Income lax recoverable in rat to investment ino)me is regnISed at Ihe time the investment income is receivable. Page 10
The Gareth Neame Foundation Notes to the Financial Statements forlhe Year Ended 31 March 2024 (continued) Expendituro Llabilities ale recognised as expendtiure as soon as there is a legal or construciive obligation ctsmmitting the charity to that expenditu, il is probable ihat a transfer ol ecA)nomic benefits will be quIrerf in settlement and the amount of the obligation e2n be measured reliably. Expendrture ts accountèd for on an arual5 basis and has been dassified under headings that aggiegate all cost related to the category. whe costs cannol be diredy attributed to particular headings they have been allocated lo actwib.es on a basis consistent with the use of iesources. Costs of g8nerating funds are costs incurred in attracting voluntary income. and those incurred in trading activities that iaise fvnds. Charitable aclivities and govemance costs are costs Irw)jr on the Charits operations. induding support costs and cos15 relating lo the govemance ol the charity apportioned to (*aTilable activities. Grants paYae are charged in Ihe year when the off6r is made except in those cases where the offer 15 conditional, such grants being recognised as expenditure when the condibons attaching are fulfilled. Grants offered subject 19 wndilions whith have not been met al the yoar end ale noted as a Eommitment, bul not accrued a$ expenditure. Taxation The charity 1$ exempt from tax on its tharilablè 8CtbvrfiÈs. Fund structhre Unreslrided fvnds be used in a¢dan the charitable gbJe¢ANes al the discretion of the trustees. Rèstrieted funds tAn onty be used for paitcular rnstri(ed purposes vAthin thè obj8cts of the charity. Restrictions arise when speaffied by the dor or when funds are raised for particular restricted purposes. Further explanation of the nature and pulse of each furHI 1$ induded in Ihe notes to the financial ststemenls. Investments Fixed asset investments are a form of financ4al instwmenl and are initially recognised al their t¥ansaction Gosl Subsequently measured at fair value al the stalement of finanual p0SOn date, unless lair value ¢annot be measured reliably in which case it is measured at cost less impairnienl. Investment gains and losses, whether realised or unrealised, are combined arKI shown in the heading 'Gainslllossesl on Investrhents, in the slalement of financial aclivities. Pa9E 11
The Gareth Neame Foundation Notes to the Financial Ststements for the Year Ended 31 March 2024 (continued) 2 Investment incomg Unrostrict•d funds Ganèral Total 2024 Total 2023 'vidend income 22,226 22,226 7.992 3 Expendlture on rai$ing funds a) Investment manag9111gnt costs Unrestriclad funds G•n•ral Total 2024 Total 2023 Other investment management costs.. Other portfolio management costs Allocated support costs 10.505 4,086 10,505 4,086 8,653 3,600 14.591 14,591 12,253 4 Expondlture on ¢h#ritable activilles Unrestrtcted funds General Total 2024 Total 2023 Grant funding of activities Governance costs 55,000 2,676 55,000 2.676 99,500 2,550 57.676 57,676 102,050 Page 12
The Gareth Neame Foundatlon Notes to the Flnancial Statements for the Year Ended 31 March 2024 {continued) s other expenditure unrt9tct•d funds Gengral Total 2024 Total 2023 Nots Allocated support Costs 32 32 6 Trust•o$ romun•ratlon and •xpèn$•$ Therè wère nts trustees. rèmunèiation or olher beneffits for the year ended 31 March 2024 nor for the period ended 31 March 2023. Trustees. expenses Ther8 were no trustees, eXpSeS paid for the year ended 31 March 2024 nor for the peri endèd 31 March 2023. 7 Fixed a$8et investmonts 2024 2023 Other investrnents 1.216.032 1.130,270 Included within £1,216,032 of Unhsled investments is £71.120 of unrealised gains. Othor Inve$tmonts Unlisted inve$lments Total Cost or Valuation At 1 April 2023 Revaluation Additions Disposa15 At 31 march 2024 1.130.270 1,130.270 57.349 57.349 334.680 334,680 1306,2671 1306,2671 1,216.032 1,216,032 Net book value At 31 Mareh 2024 1.216.032 1,216,032 At 31 March 2023 1.130.270 1,130,270 Page13
The Gareth Neame Foundation Notes to tha Financial Statemènts for the Year Ended 31 March 2024 Icontinued) 8 Creditors: amounts falling due within one year 2024 2023 Accruals 6,276 6.150 9 Fund$ Balancè at I Aprll 2023 Ineomlng resources R•soure•s expended Balanco at 31 March 2024 Unr•$trl¢lgd fund$ General 1.250.755 23,798 {1.1531 1,273,400 Balance al 1 April 2022 Incoming rèSoUeS Resource èxpÈnd•d Balanco at 31 March 2023 Unrestrlcted funds General 1.132.073 258.700 {140,018 1,250.755 10 Related party transactions There were no related party transacti5 in tho yeai. 11 Independent Èxamlnerfs remuneratlon 2024 2023 Examination of thè financial statements 2.676 2,550 Page 14