REGISTERED CHARITY NUMBER: 1179306
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
FOR
THE OLWYN FOUNDATION
Sinclairs Bartrum Lerner Chartered Accountants Second Floor 34 Lime Street London EC3M 7AT
THE OLWYN FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Receipts and Payments Account | 4 |
| Statement of Assets and Liabilities | 5 |
| Notes to the Financial Statements | 6 |
THE OLWYN FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021 . The financial statements comprise of a receipts and payments account and a statement of assets and liabilities. The charity complies with the requirements under section 133 of the Charities act 2011 to prepare receipts and payments accounts.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the foundation is to advance such charitable purposes for the public benefit as the charity's trustees from time to time in their absolute discretion think fit in accordance with the governing document. The foundation carries out out its purposes mainly, but not exclusively, by making grants to other charitable organisations.
The immediate focus of the foundation is to provide funds for charitable organisations set up for the benefit of the empowerment, education and protection of women and girls both in the UK and around the world.
Significant activities
During the year, the trustees approved the payment of funds in the sum of £181,955 to six projects which, in their judgement, satisfy the foundation's aims and objectives and consequently meet the public benefit requirement for a charity.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the foundation's aims and objectives and in planning future activities and setting the grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During 2021 The Olwyn Foundation work involved grants to:
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Refuge providing funding for a child support worker;
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Centre for Women's Justice providing support for salaries for the "Women who kill" project;
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Solace Women's Aid for their housing First project;
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GMC Charity to end FMG.
In addition, the Foundation provided grants to vulnerable families and women with children in the evacuation from Afghanistan. Also, on a visit to "The Avenues" in West London the Foundation agreed a request for funding for a minibus to help that organisation in transporting young girls to and from the centre and to allow them to offer the young people access to events and out of town activities where train travel would be prohibitively expensive or difficult to arrange.
FINANCIAL REVIEW
Financial position
During the year the foundation received donations in the sum of £200,000 and paid grants totalling £181,955. The charity incurred running costs of £2,599. The receipts and payments account reports a net surplus of £15,446 for the year, however there was a cash surplus of £5,064 brought forward at the beginning of the year resulting in a net surplus at the year end date of £20,510. This is represented by cash at bank in the sum of £20,510.
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THE OLWYN FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
FINANCIAL REVIEW
Reserves policy
The trustees policy is to maintain reserves at such a level as to have sufficient funds to enable it to pay estimated known overheads and have a buffer in the event of unanticipated costs.
Funds held at 31 December 2021 and carried forward into the next year stand at £20,510 which is considered to be sufficient.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a charitable incorporated organisation and governed by a written constitution. During the year the Charity's constitution was amended to increase the scope of those who might be considered to benefit from grants made by the Charity.
Recruitment and appointment of new trustees
New trustees are selected with regard to their skills, knowledge and experience. Each must be appointed by resolution passed at a properly convened meeting of the trustees.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1179306
Principal address
38 Market Place Folkingham Sleaford NG35 0SF
Trustees
A R Deeson P J Green S O Rowe-Beddoe S V Merry
Independent Examiner
Sinclairs Bartrum Lerner Chartered Accountants Second Floor 34 Lime Street London EC3M 7AT
Solicitors
Wedlake Bell 71 Queen Victoria Street London EC4V 4AY
Approved by order of the board of trustees on 17[th] October 2022 and signed on its behalf by:
S O Rowe-Beddoe - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OLWYN FOUNDATION
Independent examiner's report to the trustees of The Olwyn Foundation
I report to the charity trustees on my examination of the accounts of The Olwyn Foundation (the Trust) for the year ended 31st December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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.
Simon Kinna, FCA Sinclairs Bartrum Lerner Chartered Accountants Second Floor 34 Lime Street London EC3M 7AT
Date: 18[th] October 2022
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THE OLWYN FOUNDATION
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2021
| RECEIPTS Donations and legacies Donations and legacies Total receipts PAYMENTS Charitable activities Grants to institutions Support costs Management Postage and stationery Accountancy fees Bank charges Total payments Net receipts/(payments) |
2021 £ 200,000 200,000 181,955 439 2,160 - 2,599 184,554 15,446 |
2020 £ 206,000 206,000 215,000 648 3,480 275 4,403 219,403 (13,403) |
|---|---|---|
The notes form part of these financial statements
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THE OLWYN FOUNDATION
STATEMENT OF ASSETS AND LIABILITIES 31ST DECEMBER 2021
| 2021 Unrestricted fund £ CURRENT ASSETS Debtors - Cash at bank 20,510 20,510 NET CURRENT ASSETS 20,510 TOTAL ASSETS LESS CURRENT LIABILITIES 20,510 NET ASSETS 20,510 |
2020 Total funds £ 3,075 1,989 5,064 5,064 5,064 5,064 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17[th] October 2022 and were signed on its behalf by:
S O Rowe-Beddoe - Trustee
The notes form part of these financial statements
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THE OLWYN FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
1. RELATED PARTY DISCLOSURES
Donations received in the year represents an amount received from the spouse of Samantha Rowe-Beddoe, a trustee of the Charity. No conditions were attached to the donations.
No trustee received remuneration, but one trustee received £363 for reimbursement of expenses for printing and stationery from the Charity.
The notes form part of these financial statements
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