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2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 1179117

Red Eagle Foundation Unaudited Financial Statements 31 December 2024

BURGESS HODGSON LLP

Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN

Red Eagle Foundation

Financial Statements

Year ended 31 December 2024

Pages
Trustees' annual report 1 to 4
Independent examiner's report to the trustees 5
Statement of financial activities 6
Statement of financial position 7
Notes to the financial statements 8 to 13
The following pages do not form part of the financial statements
Detailed statement of financial activities 15
Notes to the detailed statement of financial activities 16

Page 1

Red Eagle Foundation

Trustees' Annual Report

Year ended 31 December 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Reference and administrative details

Registered charity name Red Eagle Foundation Charity registration number 1179117 Principal office Shakespeare House 147 Sandgate Road Folkestone Kent CT20 2DA The trustees N J Everson (Appointed 5 December 2024) Dr G Benson (Appointed 6 February 2024) A Selmon (Appointed 25 January 2024) W Hodgson A Nighean Gordon C Reid J Hodgson

Independent examiner

Harry Kemp BSc BFP FCA

Page 2

Red Eagle Foundation

Trustees' Annual Report (continued)

Year ended 31 December 2024

Structure, governance and management

The Trustees of the Charity were granted a certificate of incorporation by the Charity Commission on 9 July 2018, under the name Red Eagle Foundation. The charity operates as a charitable incorporated organisation (CIO).

New trustees are appointed by the Board of Trustees through selection as vacancies arise. The process of the appointment of new trustees is detailed below.

(1) At the first annual general meeting of the members of the CIO all the charity trustees shall retire from office;

(2) The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot;

(3) The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as provided in sub-clause (5) of this clause;

(4) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordance with clause 15 (Retirement and removal of charity trustees), or as an additional charity trustee, provided that the limit specified in clause 12(3) on the number of charity trustees would not as a result be exceeded;

(5) A person so appointed by the members of the CIO shall retire in accordance with the provisions of sub-clauses (2) and (3) of this clause. A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting.

The trustees hold face to face meetings on a monthly basis to consider the management and operation of the charity's objectives and funds. The trustees monitor the Charity's internal controls and potential areas of risk to its assets and reserves. Where potential risks are identified appropriate safeguards are introduced.

Objectives and activities

The Charity was formed in 2018 to promote the empowering of disadvantaged children. The Charity aims to relieve the needs of children with mobility, mental health and learning difficulties, and those from a disadvantaged financial background in particular, but not exclusively, by the provision of funding for equipment not provided by the NHS.

The charity raises funds in numerous ways by running various events such as golf days, quizzes, theatre experiences and many more.

Red Eagle Foundation is a grant-making trust supporting general charitable purposes. It is the policy of the trustees to make grants to a wide range of charitable bodies and individuals. Grants are made primarily, but not limited to, registered charities, charitable organisations and individuals in the UK within the following funding areas: Physical Health, Mental Health and Education.

All grant applications are reviewed within our monthly trustee meetings where the trustees ensure all successful applications not only meet our charitable objectives but also have a public benefit as required in section 17(5) of the Charities Act and the Charities Regulations 2008 issued by the charity commission. We refer to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Page 3

Red Eagle Foundation

Trustees' Annual Report (continued)

Year ended 31 December 2024

Achievements and performance

A number of events were held throughout 2024 including celebrity golf events, fun runs and other fundraising activities. We also received funding from a number of individuals that chose to run marathons for us or chose us as their 'charity of the year' via their business. We also received funding through matched funding from organisations who have charity budgets. We made increased grants throughout the year with a noticeable increase in requests for bespoke and specialised buggies for disabled children and holidays and special events for children with life limiting illnesses.

Financial review

The activities of the year generated an increase in funds of £71,913 (2023: an increase in funds of £85,422). The movement in funds is after income of £209,434 (2023: £137,521) from donations.

The core activities of the charity have remained largely unchanged to that of the previous year.

The total reserves at the year end were £29,779 (2023: £7,699). The Trustees held cash of £31,449 (2023: £9,580).

Financial reserves policy

The charity does not have a specific policy regards reserves. It is the responsibility of the treasurer to maintain enough money in the bank account to fund all forthcoming grants and expenses. At no point during the financial period was the account overdrawn. In the current year, the charity operated at a loss after donations were made.

The funds in the bank account will be applied towards the Charity's goals in the future. The trustees regularly review the level of reserves and are of the opinion that the current levels are satisfactory to meet its needs effectively.

Risks

The Trustees have examined the major strategic, business and operational risks involved in the Charity's activities and are satisfied that appropriate reports and information have been produced to allow them to run the Charity's operations satisfactorily. The trustees consider it is appropriate to make a written record of the risks that they face and the action they take in response to these risks.

Risks considered are as follows:-

  1. LIQUID ASSETS - Apart from cash required for the day-to-day management of the charity, a surplus is usually held in the bank account. The trustees also review the safety of their bank from time to time.

  2. The Trustees recognise that operating charitable events involves health and safety and safeguarding issues. The Trustees take a close interest in all aspects of management of the events where risks are reviewed beforehand and concerns identified.

Plans for future periods

The Charity plans to continue promoting the importance of relieving the needs of children with mobility, mental health and learning difficulties by raising funds through events and providing funding for equipment not readily available.

Page 4

Red Eagle Foundation

Trustees' Annual Report (continued)

Year ended 31 December 2024

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Wayne Hodgson (Aug 15, 2025 14:01:02 GMT+1) W Hodgson Trustee

Page 5

Red Eagle Foundation

Independent Examiner's Report to the Trustees of Red Eagle Foundation

Year ended 31 December 2024

I report to the trustees on my examination of the financial statements of Red Eagle Foundation ('the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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.

Harry Kemp BSc BFP FCA Independent Examiner

Kemps, Chartered Accountants 42A High Street Broadstairs Kent CT10 1JT

Page 6

Red Eagle Foundation

Statement of Financial Activities

Year ended 31 December 2024

2024 2024 2023
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 4 209,434 209,434 137,521
Other income 5 1,784 1,784 17
-------------------------------- -------------------------------- --------------------------------
Total income 211,218 211,218 137,538
================================ ================================ ================================
Expenditure
Expenditure on charitable activities 6,7 189,138 189,138 148,431
-------------------------------- -------------------------------- --------------------------------
Total expenditure 189,138 189,138 148,431
================================ ================================ ================================
-------------------------------- -------------------------------- --------------------------------
Net income/(expenditure) and net movement in funds 22,080 22,080 (10,893)
================================ ================================ ================================
Reconciliation of funds
Total funds brought forward 7,699 7,699 18,592
-------------------------------- -------------------------------- --------------------------------
Total funds carried forward 29,779 29,779 7,699
================================ ================================ ================================

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

The notes on pages 8 to 13 form part of these financial statements.

Page 7

Red Eagle Foundation

Statement of Financial Position

31 December 2024

2024 2023
Note £ £
Fixed assets
Tangible fixed assets 12 610 339
Current assets
Cash at bank and in hand 31,449 9,580
Creditors: amounts falling due within one year 13 2,280 2,220
--------------------------- -----------------------
Net current assets 29,169 7,360
--------------------------- -----------------------
Total assets less current liabilities 29,779 7,699
--------------------------- -----------------------
Net assets 29,779 7,699
=========================== =======================
Funds of the charity
Unrestricted funds 29,779 7,699
--------------------------- -----------------------
Total charity funds 15 29,779
===========================
7,699
=======================

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

Wayne Hodgson (Aug 15, 2025 14:01:02 GMT+1)

W Hodgson Trustee

The notes on pages 8 to 13 form part of these financial statements.

Page 8

Red Eagle Foundation

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Shakespeare House, 147 Sandgate Road, Folkestone, Kent, CT20 2DA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the

charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Page 9

Red Eagle Foundation

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Page 10

Red Eagle Foundation

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Donations and legacies

Unrestricted Total Funds Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Donations
Donations 209,434 209,434 137,521 137,521
================================ ================================ ================================ ================================

5. Other income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Other income 1,784 1,784 17 17
======================= ======================= ============== ==============

Page 11

Red Eagle Foundation

Notes to the Financial Statements (continued)

Year ended 31 December 2024

6. Expenditure on charitable activities by fund type

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Relieving needs of children with
mobility, mental health and learning
difficulties 121,755 121,755 90,862 90,862
Support costs 67,383 67,383 57,569 57,569
-------------------------------- -------------------------------- -------------------------------- --------------------------------
189,138 189,138 148,431 148,431
================================ ================================ ================================ ================================

7. Expenditure on charitable activities by activity type

Activities
undertaken Support Total funds Total fund
directly costs 2024 2023
£ £ £ £
Relieving needs of children with
mobility, mental health and learning
difficulties 121,755 65,103 186,858 146,211
Governance costs 2,280 2,280 2,220
-------------------------------- --------------------------- -------------------------------- --------------------------------
121,755 67,383 189,138 148,431
================================ =========================== ================================ ================================

8. Analysis of support costs

Analysis of
support costs
for the
relieving the
needs of
children with
mobility,
mental health
and learning
difficulties Total 2024 Total 2023
£ £ £
Staff costs 62,010 62,010 53,407
Communications and IT 125 125 158
General office 2,424 2,424 1,314
Finance costs 319 319 300
Governance costs 2,280 2,280 2,220
Support costs - Other costs type 1 225 225 170
--------------------------- --------------------------- ---------------------------
67,383 67,383 57,569
=========================== =========================== ===========================
Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 225 170
============== ==============

9. Net income/(expenditure)

Page 12

Red Eagle Foundation

Notes to the Financial Statements (continued)

Year ended 31 December 2024

10. Independent examination fees

2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,020 1,020
======================= =======================

11. Trustee remuneration and expenses

No remuneration, benefits or expenses were paid to the Trustees of the Charity in the current or previous year.

12. Tangible fixed assets

Equipment
£
Cost
At 1 January 2024 679
Additions 496
-----------------------
At 31 December 2024 1,175
=======================
Depreciation
At 1 January 2024 340
Charge for the year 225
-----------------------
At 31 December 2024 565
=======================
Carrying amount
At 31 December 2024 610
=======================
At 31 December 2023 339
=======================
Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 2,280 2,220
======================= =======================

13. Creditors: amounts falling due within one year

14. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,172 (2023: £573).

Page 13

Red Eagle Foundation

Notes to the Financial Statements (continued)

Year ended 31 December 2024

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 January 20 31 Decembe
24 Income Expenditure r 2024
£ £ £ £
General funds 7,699 211,218 (189,138) 29,779
======================= ================================ ================================ ===========================
At At
1 January 20 31 December
23 Income Expenditure 2023
£ £ £ £
General funds 18,592 137,538 (148,431) 7,699
=========================== ================================ ================================ =======================
Analysis of net assets between funds
Unrestricted Total Funds
Funds 2024
£ £
Tangible fixed assets 610 610
Current assets 31,449 31,449
Creditors less than 1 year (2,280) (2,280)
--------------------------- ---------------------------
Net assets 29,779 29,779
=========================== ===========================
Unrestricted Total Funds
Funds 2023
£ £
Tangible fixed assets 339 339
Current assets 9,580 9,580
Creditors less than 1 year (2,220) (2,220)
----------------------- -----------------------
Net assets 7,699 7,699
======================= =======================

16. Analysis of net assets between funds

17. Related parties

During the year, there were no transactions with related parties (2023: Nil).

Page 14

Red Eagle Foundation

Management Information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

Page 15

Red Eagle Foundation

Detailed Statement of Financial Activities

Year ended 31 December 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Donations 209,434 137,521
-------------------------------- --------------------------------
Other income
Other income 1,784 17
----------------------- --------------
-------------------------------- --------------------------------
Total income 211,218 137,538
================================ ================================
Expenditure
Expenditure on charitable activities
Purchases 37,568 40,498
Wages and salaries 45,839 14,050
Pension costs 1,172 573
Other establishment 84,187 50,364
Legal and professional fees 17,279 41,004
Telephone 125 158
Other office costs 2,424 1,314
Depreciation 225 170
Bank charges 319 300
-------------------------------- --------------------------------
189,138 148,431
-------------------------------- --------------------------------
-------------------------------- --------------------------------
Total expenditure 189,138 148,431
================================ ================================
-------------------------------- --------------------------------
Net income/(expenditure) 22,080 (10,893)
================================ ================================

Page 16

Red Eagle Foundation

Notes to the Detailed Statement of Financial Activities

Year ended 31 December 2024

2024 2023
£ £
Expenditure on charitable activities
Relieving needs of children with mobility, mental health and learning difficulties
Activities undertaken directly
Direct charitable activity 1 - donations 37,568 40,498
Direct charitable activity 1 - event set up costs 84,187 50,364
-------------------------------- ---------------------------
121,755 90,862
-------------------------------- ---------------------------
Support costs
Support charitable activity 1 - wages/salaries 45,839 14,050
Support charitable activity 1 - pension costs 1,172 573
Support charitable activity 1 - legal and professional fees 14,999 38,784
Support charitable activity 1 - telephone 125 158
Support charitable activity 1 - other office costs 2,424 1,314
Support charitable activity 1 - depreciation 225 170
Support charitable activity 1 - charges and fees 319 300
--------------------------- ---------------------------
65,103 55,349
--------------------------- ---------------------------
Governance costs
Governance costs - accountancy fees 2,280 2,220
----------------------- -----------------------
-------------------------------- --------------------------------
Expenditure on charitable activities 189,138 148,431
================================ ================================

R673 - Full Accounts - 2024

Final Audit Report

2025-08-15

Created: 2025-08-15 By: Burgess Hodgson (esign@burgesshodgson.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAQfeIwLyKd2fGVHSaG5f2H116adrjZSe1

"R673 - Full Accounts - 2024" History

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