TRUSTEES’ ANNUAL REPORT AND FINANCIAL REVIEW
FOR THE PERIOD 1 JANUARY 2021 – 31 DECEMBER 2021
Registered Charity Number: 1180518
Annual Report and Financial Review 2020 | 3
2 | Hendy Foundation Registered Charity 1180518
HENDY FOUNDATION
TRUSTEES
Rebecca Hendy, Chair of Trustees
Craig Southin, Treasurer (Retired September 2021)
Alyson Marlow, Secretary (Re-appointed for term 2 in May 2021)
Mark Busby
Richard Scott
Christine Drew, Treasurer (appointed November 2021)
PRINCIPAL OFFICE
School Lane, Chandler’s Ford, Hampshire SO53 4DG
CHARITY REGISTRATION NUMBER
1180518
INDEPENDENT EXAMINER
Jason Foxwell FCCA FCIE
39 Enfield Road, Poole, Dorset BH15 3LJ
BANKERS
HSBC Southampton
55 Above Bar Street, Southampton, SO14 7DZ
CONTENTS
| CHAIRPERSON’S REVIEW ............................. 4 | Financial and investment management .. 20 |
|---|---|
| STRUCTURE, GOVERNANCE AND | Compliance with law and regulation ...... 20 |
| MANAGEMENT ........................................... 6 | Grants and donations ........................... 20 |
| Governing document .............................. 6 | FINANCIAL REVIEW ................................... 21 |
| Governing body ...................................... 6 | Basis of accounting ............................... 22 |
| Relationship with Hendy Group Ltd .......... 6 | Financial performance........................... 22 |
| Remuneration policy ................................ 7 | Income ................................................. 22 |
| Organisational management ................... 7 | Expenditure .......................................... 24 |
| Recruitment and training of trustees ......... 7 | Payments to trustees .............................. 24 |
| OBJECTS AND PRINCIPAL ACTIVITIES ........... 8 | Assets and liabilities .............................. 25 |
| Objects .................................................. 8 | Outlook ................................................ 25 |
| Principal activities .................................... 8 | Reserves policy ...................................... 25 |
| STRATEGIC REPORT ..................................... 9 | INDEPENDENT EXAMINER’S REPORT .......... 27 |
| Aims and objectives .............................. 10 | RECEIPTS AND PAYMENTS ACCOUNTS ...... 28 |
| Grant statistics ...................................... 10 | |
| WHO WE HAVE SUPPORTED IN 2021 ........ 12 | |
| Achievements ....................................... 19 | |
| Measuring impact ................................. 19 | |
| Risk management ................................. 20 | |
| Governance .......................................... 20 | |
| Asset management ................................ 20 |
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CHAIRPERSON’S REVIEW
Like many charities and indeed most organisations, Hendy Foundation was impacted by the COVID-19 pandemic during 2021, but I am pleased to report that our grant services continued to support local charities for the duration of the year.
The Trustee Board welcomed Christine Drew this year as Treasurer, who offers her diverse skills to ensure the smooth financial running of the charity.
Since 2019, when the first grants were awarded, Hendy Foundation has reached an amazing milestone, as we have now donated over £100,000 to local charities within the area that Hendy Group Ltd operates – Devon, Dorset, Wiltshire, Hampshire, West Sussex, East Sussex, Surrey and Kent. Despite all the challenges COVID-19 brought, 2021 saw the highest annual value of grants awarded since it was founded, with over £60,000 in the 12-month period.
It has become very clear that, more than ever, smaller charities are relying on grants from charities such as ourselves, despite fundraising activities gradually getting back to pre-Covid times. Yet the gap in their typical fundraising activities and the need to dip into their reserves mean that Hendy Foundation has never been so busy. The round of online grant applications that opened in Quarter 2 saw the most applications ever received, totalling almost 170 requests, worth almost £1m (2020: 149). Of these grant requests, 48 donations were awarded, with an average donation of £1,290.
As a result of the increased demand, our own fundraising has never been more important, and consequently, additional fundraising activities with Hendy Group Ltd and their colleagues have provided a welcome increase in funds.
One of the aims of Hendy Foundation is to provide grants to a wide variety of charities and to look at each application on its own merits. 2021 was no exception, and grants awarded included a wheelchair, a radio licence, gardening equipment, counselling, gymnasium equipment, nutrition courses, cancer services and computer equipment, to name but a few. The trustees take pride in being able to work with so many diverse charities and organisations, and it is a great pleasure to be able to help so many beneficiaries with such differing needs.
We closed the financial year with three outstanding pledges, and the future of 2022 looks bright as further fundraising events start to take shape to support Hendy Foundation.
Once again, my thanks go to the individuals, Hendy Group colleagues and customers, Hendy Group Ltd, and all the
organisations who have kindly donated to Hendy Foundation, as we couldn’t do this without you. We run a very tight ship and are very pleased to say that 99% of all donations received are pledged directly to the charities in our local communities. It also goes without saying that this work could not happen without the dedicated efforts of the Board of Trustees, who give up their time voluntarily to support these amazing causes.
REBECCA HENDY – CHAIRPERSON
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STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
Hendy Foundation was established in November 2018 and is registered with the Charity Commission, number 1180518.
GOVERNING BODY
The members of the Governing Body are the trustees detailed on page 2 of this annual report.
Trustees are recruited for a two-year term, with the exception of the two founder members, Mark Busby and Rebecca Hendy, who were appointed to an initial four-year term. Trustees are eligible for re-appointment if the majority resolves, and with a limit of three terms. This code is not a legal or statutory requirement; however, the trustees believe that this demonstrates best practice and will seek to follow guiding principles and regularly review whether improvements can be made.
RELATIONSHIP WITH HENDY GROUP LTD
Hendy Foundation was established by Hendy Group Ltd, which wanted to formalise its grantmaking facility, even though in the past it had consistently provided donations to local causes. The creation of Hendy Foundation has improved the grant-making process by the use of dedicated trustees, who sit independently from the company itself. The trustees ensure that the funds are spent with the charity’s values in mind, and that all counties that Hendy Group Ltd operate within are equally represented.
The Board of Directors from Hendy Group Ltd agreed to donate, during 2021, £1 per retail vehicle sold directly to Hendy Foundation, and it is worth mentioning that the Directors or colleagues have no input into where the donation is awarded, in order for the charities to be awarded purely on their own merits and without prejudice.
Donations from Hendy Group Ltd in 2021 amounted to £31,332 (2020: £12,500).
As well as monetary donations, Hendy Group Ltd offers premises free of charge for meeting use, provide the payment terminals to facilitate the Pennies donation transactions, and provide a donation platform for Hendy Group colleagues to purchase items such as tickets to sporting events via an internal online auction facility.
REMUNERATION POLICY
The Board of Trustees is responsible for defining the Remuneration Policy and deciding upon the remuneration for the trustees.
Currently, no trustees receive remuneration for work carried out on behalf of Hendy Foundation, and all the trustees operate on a voluntary basis. An Expenses Policy has been defined by the Board of Trustees, allowing for reimbursement of costs incurred while on Hendy Foundation business, namely travel, accommodation and other incidental costs. To date, no trustee has claimed any expenses.
ORGANISATIONAL MANAGEMENT
The members of the Board of Trustees are legally responsible for the overall management and control of Hendy Foundation.
There are no sub-committees in place.
Hendy Foundation is run on a day-to-day basis by the trustees, who all have a defined role to ensure the smooth running of the charity.
Decisions on awarding grants are taken by vote by all trustees at Quarterly Trustee Meetings.
RECRUITMENT AND TRAINING OF TRUSTEES
Potential trustees are identified by members of the Board of Trustees and considered as a whole by all trustees themselves against the requirements concerning eligibility, competence, specialist skills, diversity and knowledge gaps. They seek to achieve a balance of experience and background. Open advertising is undertaken when necessary.
The Chairperson holds meetings with new trustees to ensure that all relevant documentation is provided including policies, legal documentation and processes taken when determining grant applications.
Further training is offered to all trustees.
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OBJECTS AND PRINCIPAL ACTIVITIES
OBJECTS
The objects of the charity are to provide financial assistance to local charities, individuals and charitable organisations within the area that Hendy Group Ltd operates.
The wide variety of causes ensures that financial assistance can be provided to the majority of charities, individuals and charitable organisations within the designated area, with the exception of national charities, overseas charities, or causes with religious or political purposes.
PRINCIPAL ACTIVITIES
The main activity of Hendy Foundation is to supply restricted grants to local charities, charitable organisations and individuals by providing financial support to a wide variety of charitable projects and services.
Hendy Foundation aims to achieve the maximum possible beneficial impact from its grantmaking and gives priority to funding smaller projects that have difficulty in raising funds elsewhere.
Hendy Foundation maintains a presence on the internet – www.hendyfoundation.org – and through social media platforms: Facebook, Twitter, Instagram and LinkedIn. Applications are not accepted by post or email, and applicants must submit a grant application through the online application form on the charity website – this method of applying ensures consistency of the applications, secure data capture and eases administration.
The online grant application was opened three times in 2021, with the opening times announced via social media and on the website. Communication via the online contact form can be received 24/7 during the opening of the grant application window.
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STRATEGIC
REPORT
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STRATEGIC REPORT
AIMS AND OBJECTIVES
Hendy Foundation’s aims are to help charities, charitable organisations and individuals in need within the footprint of Hendy Group dealerships, thus financially giving back to the immediate local community.
In the consideration of the projects to support, and the planning of activities to raise funds, the trustees have given careful consideration to the Charity Commission guidance on public benefit. All applications are formally vetted while the due diligence process ensures all supporting applications meet the Foundation’s aims and objectives.
GRANT STATISTICS
During 2021, 48 charities and organisations were awarded grants. Five of these awards were not paid during the 2021 financial period due to requiring further due diligence prior to payment; however, all outstanding awards were paid in early 2022.
The final decision to whom to donate relies on the quality of the applications being received from the accepted areas, and whether or not they pass the due diligence procedures. It is clear from these figures and comparing those to 2020 figures, that more applications need to be received from Surrey and Devon in particular, in order to have a more even spread of awards across all counties.
During 2021, the average grant awarded was £1,290 (2020: £1,000).
The following graphs show the number of grants awarded by location in 2022, and the total value of grants awarded comparing 2021 with previous years.
Total number and percentage of grants awarded by location 2021
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5% Devon
23% Dorset
6% Wiltshire
40% Hampshire
17% East Sussex
3% Surrey
6% Kent
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Graph 1
Value of donations by year
£80,000
£70,000
£61,919.00
£60,000
£50,000
£40,000
£27,680.00
£30,000
£18,105.00
£20,000
£10,000
0
2019 2020 2021
Graph 2
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FUNDRAISING
No fundraising activities were planned for 2021 due to the uncertainty that COVID-19 could bring. However, as the year progressed, and the restrictions were reduced, a number of fundraising activities were organised in conjunction with Hendy Group Ltd.
The Hendy Group Golf Day and the Hendy Performance Thruxton Day raised funds that were greatly received.
Meanwhile, Team Salisbury from the dealerships in Salisbury ran the Tough Mudder Challenge and achieved a great (but muddy) finish and a well-deserved donation.
The Trustees are planning further events for 2022 to ensure the fundraising budget remains on target while improving the income stream diversity.
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WHO WE HAVE SUPPORTED IN 2021
Hendy Foundation prides itself on providing grants for a diverse range projects and services. Here is who we fundraised for in 2021.
JACK LAYTON, HAMPSHIRE
The grant contributed towards the cost of a new wheelchair for Jack.
HOSPITAL RADIO PLYMOUTH, DEVON
UK HARVEST, WEST SUSSEX
The donation covered the cost of their licence fees so they could continue to provide radio services to hospitals and care homes in Devon.
The grant paid for the repair to their van so that they could continue to deliver food parcels to those in need.
BOGNOR AMATEUR BOXING CLUB, WEST SUSSEX
AFC BOURNEMOUTH COMMUNITY SPORTS TRUST, DORSET
During lockdown, Bognor Boxing Club found themselves homeless. The donation provided boxing equipment for their new facilities.
CHICHESTER INFORMATION SHOP, WEST SUSSEX
Our donation provided 100 hours of counselling support for 13 to 25-year-olds in the Chichester area.
The grant paid for sports activities during school holidays for children with disabilities.
CANCER UNITED, WEST SUSSEX
Cancer United is a choir for people who have had or are undergoing treatment for cancer. Our donation provided a new laptop so that they could record and produce their music and choir sessions.
TYLER’S TRUST, HAMPSHIRE
ELING SCHOOL PTA, HAMPSHIRE
Tyler’s Trust provides gift boxes to seriously ill children. Our donation provided items for these boxes.
MANHOOD WILDLIFE AND HERITAGE GROUP, EAST SUSSEX
The donation provided gardening equipment for their Living Landscape project.
HAMPSHIRE FOSTERING NETWORK, HAMPSHIRE
The donation helped pay for children in foster care attend the residential break called the Big Activity Week.
Our donation provided funds to help purchase new playground equipment.
EVIE’S GIFT, WILTSHIRE
Evie’s Gift helps families with children undergoing treatment for life limiting illnesses. The donation from Hendy Foundation provided accommodation for parents so they can be near their child during treatment.
FOREST ROW COMMUNITY FRIDGE, EAST SUSSEX
The donation from Hendy Foundation provided food and essential items for families in need.
THE BUS SHELTER, DORSET
GROOMBRIDGE MEN’S SHED, KENT
We provided a grant to pay for a washing machine and tumble drier for homeless adults.
The Men’s Shed help men with loneliness and mental health issues. The donation from Hendy
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Foundation contributed towards carpentry items for their workshop.
HEADWAY PORTSMOUTH AND SOUTH HANTS, HAMPSHIRE
SOUTH CENTRAL AMBULANCE CHARITY, HAMPSHIRE
Our grant provided two defibrillators to help the paramedics who work within this charitable ambulance service.
The donation contributed towards their outreach programme, helping adults with head injuries.
VICTORIA’S PROMISE, HAMPSHIRE
HELPING YOUNG MINDS, DORSET
The grant from Hendy Foundation paid for counselling sessions for children and young adults to help deal with stresses that they may encounter such as bullying, exam stress and family issues.
The grant funded costs towards services to help women with cancer, such as housekeeping, laundry, babysitting and yoga.
VICTORY HANTS, HAMPSHIRE
HORATIO’S GARDEN, WILTSHIRE
We funded a new digital camera to be used in one of their spinal injury gardens in Salisbury.
The donation funded a social inclusion cup for children with disabilities.
WAYMAKERS DEVON, DEVON
KANGAROOS MID-SUSSEX, SUSSEX
The donation provided toys for a new sensory room and lending library, for children with learning disabilities.
MARY HOW TRUST FOR CANCER PREVENTION, WEST SUSSEX
The donation from Hendy Foundation provided cancer prevention screening equipment.
A grant from Hendy Foundation helped provide coaching support for children with autism.
WINCHESTER Go LD, HAMPSHIRE
The grant provided food courses and nutritional education to vulnerable adults, particularly in need during the lockdowns to help with loneliness and the need to eat healthily.
HAMPSHIRE AND ISLE OF WIGHT AIR AMBULANCE, HAMPSHIRE
MEMORY LANE EASTBOURNE, EAST SUSSEX
Our donation helped fund activities for people with dementia.
MYTIME YOUNG CARERS, DORSET
During the various lockdowns, children who care for an adult felt particularly isolated, and Hendy Foundation provided a donation to purchase laptops for these young carers.
A total of two donations were given to HIOWAA during 2021. It costs HIOWAA approximately £2,890 for each mission to fly their helicopter to help people in need. The donations from Hendy Foundation covered the cost of at least one mission.
FRIENDS OF SOUTHAMPTON OLD CEMETERY, HAMPSHIRE
An annual donation was given to this charity to help maintain the grounds of this old cemetery, which helps with conservation, maintenance and education.
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BRIGHTON AND HOVE SPEAKOUT, EAST SUSSEX
The donation helped parents with learning difficulties who are going through child protection proceedings.
BROADLANDS RDA, HAMPSHIRE
Broadlands RDA provide pony rides for people with disabilities. The donation from Hendy Foundation funded new electric fencing to help improve the fitness and well-being of the ponies, thus reducing veterinary costs.
CANCERWISE, WEST SUSSEX
The donation from Hendy Foundation provided furniture for their new Cancer Support Centre.
CHIDEOCK VILLAGE HALL, DORSET
A grant was awarded to Chideock Village Hall so they could build a new access ramp, as their current ramp was dangerous for wheelchairs and parents with buggies and prams.
CHILDREN WITH CANCER FUND (POLEGATE), EAST SUSSEX
The grant provided 20 families of children with cancer the chance to go to Warrior Adventure Park, ensuring that the whole family experienced a special day out during what was a very difficult time for everyone in the family.
EDUCATING INDIVIDUALS EMPOWERING FAMILIES, HAMPSHIRE
The grant allowed parents and carers of disabled children video access and online tools to help strengthen the support they get within the community.
EMMAUS HASTINGS AND ROTHER, EAST SUSSEX
FIRST LIGHT SOUTH WEST, DEVON
The donation from Hendy Foundation paid for leaflets, business cards and posters for this charity that helps men and boys who have suffered sexual abuse or rape.
HARLEQUIN CARE DORSET, DORSET
The grant paid for respite days for unpaid carers of the sick, frail or disabled.
JIGSAW SOUTH EAST, SURREY, KENT, EAST SUSSEX AND WEST SUSSEX
The donation provided support for 4 to18-year-olds who have suffered bereavement of a loved one.
KENT SEARCH AND RESCUE, KENT
The donation from Hendy Foundation provided First Responder medical training and equipment for a team who look for lost people in Kent.
LIFE CENTRE, WEST SUSSEX
Our grant provided specialist training for a therapist for people suffering with unwanted sexual experiences.
MY SISTER’S HOUSE, WEST SUSSEX
A donation from Hendy Foundation helped purchase two laptops to help support women who have suffered with physical, emotional and sexual abuse.
POOLE COMMUNITY TRUST, DORSET
A grant from Hendy Foundation provided shrubs and trees for a deprived communal area in Dorset.
Our grant provided gym equipment for a new purpose-built gym for homeless adults.
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READ EASY WINCHESTER, HAMPSHIRE
A grant from Hendy Foundation provided six new coaches to teach adults to read.
SAFE FOUNDATION, DEVON
Our donation contributed towards their trauma recovery project to help people who had suffered from domestic violence and abuse.
THE SWANAGE SCHOOL, DORSET
The donation helped set up the Robot Wars Project, which helps children with career advice.
UNDERWIRED, EAST SUSSEX
The donation from Hendy Foundation paid for 32 families with disabled children to go and watch a multi-dimensional family musical.
ACHIEVEMENTS
The trustees aim to decide on all applications within one month of the closure of the grant application form, and no distinction is made between the value of the requested grant – all grant applications receive the same level of consideration over the same time period.
The shortlisting decision is made at the Quarterly Trustee Meetings, with further due diligence meetings being held at a later to date to finalise the awards.
The award process is constantly evaluated at each meeting to ensure that the decisions are taken quickly and thoroughly, allowing for all non-successful applicants to be informed immediately after the decision has been made. The shortlisted applicants are required to submit documents to support their application, including and not limited to, bank statements, financial reports, quotations and fundraising plans. Once this information is received, the trustees will finalise the list of successful applicants.
MEASURING IMPACT
The impact of our grant-making is measured against whether the donation has been spent according to the grant application.
All charities, organisations and individuals have to comply with the terms and conditions and must report to Hendy Foundation on how the donation has been spent within 12 months of receipt of payment of their grant. All successful applicants are contacted within the 12-month period to discuss how their grant has been used and the level of impact it has had on their beneficiaries. We see this in the form of letters, photographs, invoices and Impact Reports – all of which are acceptable depending on the type of organisation.
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RISK MANAGEMENT
The trustees have considered what major risks arise within the principal areas of the charity’s operation and this is reviewed on an annual basis by all trustees. The risk management strategy is reviewed, ensuring that the levels of risk are acceptable and that reasonable steps are in place to mitigate identified risks.
The key risks have been identified under the following headlines.
GOVERNANCE
-
Failure to maintain proper records and financial accounts, failure to manage conflict of interest
-
Failure to employ the correct skills; not fulfilling regulatory requirements
ASSET MANAGEMENT
- Fraud; misappropriation of funds; systems failures
FINANCIAL AND INVESTMENT MANAGEMENT
-
Adequacy of reserves and cashflow
-
Reliance on one donation source
COMPLIANCE WITH LAW AND REGULATION
- Breach of legal and statutory requirements
GRANTS AND DONATIONS
- Making inappropriate grants outside of the charity’s objects; lack of grant requests.
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Annual Report and Financial Review 2020 | 21
FINANCIAL
REVIEW
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FINANCIAL REVIEW
BASIS OF ACCOUNTING
As a Charitable Incorporated Organisation (“CIO”) the trustees’ report and accounts are prepared and scrutinised under the provisions of section 133 of the Charities Act 2011. In view of the size of Hendy Foundation, in terms of income (being less than £250,000), and its relatively uncomplicated charitable activity, the trustees have opted to account for the financial performance of Hendy Foundation on a receipts and payments basis. Accounting on a receipts and payments basis means accounting for cash when it is received and paid out during the period, without making any other adjustments for sums owed or due.
In compliance with the Charities (Accounts and Reports) Regulations 2008, Hendy Foundation has opted for a financial year end of 31 December.
Hendy Foundation has also considered the provisions of the Charitable Incorporated Organisations (General) Regulations 2012 when preparing its accounts. This is the third accounting period on which Hendy Foundation is reporting.
FINANCIAL PERFORMANCE
Hendy Foundation received £56,292 in donations in 2021 (£27,570 in 2020) and spent £52,690 on grants and £285 on general expenses (£34,463 and £688, respectively, in 2020). A balance of £30,380 was carried forward to 2022 (£27,063 in 2021). The total value of grants awarded during the 2021 financial year ended 31 December, was £61,100 with £52,690 paid within the year and the balance of £8,410 carried forward to 2022 and all settled by the first week in February.
INCOME
A major source of income for Hendy Foundation in 2021 was from Hendy Group Ltd. whose donations amounted to £31,332 in respect of Hendy Group Ltd.’s trading performance in 2021, which was paid quarterly in arrears. The COVID-19 pandemic had a lesser impact on the Hendy Group Ltd., in terms of its ability to trade and general economic conditions than during the previous year. Hendy Foundation continued its arrangement with the Pennies Charity, which manages charitable micro-donations received through point-of-sale payment terminals. With the
consent of Hendy Group Ltd. this facility was made available to all payment terminals within the dealerships across the entire Group. By the end of the year, Hendy Foundation had received a total of £14,706 (£4,378 in 2020) from Hendy Group Ltd.’s customers who had made microdonations of £1 per transaction – an important source of funding for the charity and one that will enable Hendy Foundation to support worthy causes across the Hendy Group Ltd. operational area.
In addition to the main Income sources 2021 donations from Hendy Group Ltd. and their customers, a total of £10,254 was received from 58% Hendy Group donations a variety of donors on both 27% Pennies (Hendy Customer donations) restricted and unrestricted basis. 2% People’s fundrasing Graph 3 shows how the 14% Other donations
Graph 3 shows how the sources of income for Hendy Foundation were broken down in 2021.
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vs
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Income sources 2020
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45% Hendy Group donations
16% Pennies (Hendy Customer donations)
11% Warranty Admin Services donation
(restricted funds)
15% Tunbridge Wells Half Marathon donation
8% Other donations
5% Enterprise Vehicle Rentals donation
Graph 3
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EXPENDITURE
During the year, grants of £57,690 (£31,463 in 2020) were made to charities, organisations and individuals from across the geographical area covered by Hendy Group Ltd’s business operations. All grants were made on a restricted basis, and Hendy Foundation has measures in place to check that grants are spent for the purposes for which the grant was made, within a 12-month period as stated in the terms and conditions, which each grant recipient signs up to. The total expenditure for grants was in excess of the funds received and, as a grant funding charity, we aim to distribute those funds as soon as possible, while still retaining the small reserve, as per our reserves policy.
Hendy Foundation incurred some modest administration costs, such as the costs of independent examination of the accounts and
bank charges, totalling £285 in the year (£688 in 2020), representing around 0.5% of its total expenditure (1% in 2020). There were no costs of fundraising.
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Expenditure by type 2021
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An element of expenditure will be required in 2022 for unavoidable costs such as bank charges, IT costs, fees paid to the independent examiner and other expenditure, but Hendy Foundation achieved a figure of 99% of its expenditure in 2021 being related to providing grants (98% in 2020), which was in line with its target for the year.
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99% General grants paid
1% Administration
Graph 4
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PAYMENTS TO TRUSTEES
There were no payments to trustees in the accounting period.
ASSETS AND LIABILITIES
The trustees will submit accounts to the Charity Commission on the above basis (see the end of this document). The only asset of the CIO at the end of the accounting period was in the form of cash held at the bank. There are no liabilities. Consequently, the trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the yearend the CIO did not have any outstanding guarantees to third parties, nor any debts secured on assets of the CIO.
OUTLOOK
Looking ahead, of the balance of £30,380 held in cash deposits at the bank on 31 December 2021, £8,410 was earmarked for grant awards that had been approved in the year but had not been paid out, although these were subsequently paid during Quarter 1/2022. After taking this into account, a balance of £21,970 will be carried forward to fund grants, extremely modest running costs, and a provision to maintain a small reserve (see below).
There are a number of colleague-enabled fundraising events planned, the Pennies contributions are increasing year-on-year and the commitment from Hendy Group Ltd remains consistent for 2022. With this continued growth in income and the reserves brought forward, the trustees of Hendy Foundation are confident that they will be able to increase their distribution of funds to those who need it most.
RESERVES POLICY
Hendy Foundation does not provide any services directly, nor does it have any material assets or any significant outgoings. In addition, Hendy Foundation pays grants out of the cash it holds at the time a commitment is made. The expectation is that most grants will be made as one-off payments. In exceptional circumstances, grants may be made on an ongoing basis to a charity, an organisation or an individual that it supports. At the end of December 2021, there was one charity for which Hendy Foundation had committed to providing a grant of £500 on an annual basis for the foreseeable future.
Hendy Foundation has an earmarked reserve of £2,000 (£2,000 at the end of December 2021)
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INDEPENDENT EXAMINER’S REPORT
to meet its ongoing commitments, such as administration and independent examination costs. It will hold as designated, unrestricted reserves any ongoing commitments to third parties. The Reserves Policy will be reviewed on an annual basis.
Approved by trustees and signed on their behalf
I report to the trustees on my examination of the accounts of The Hendy Foundation (“the charity”) for the period ending 31 December 2021.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the charity, 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 charity’s accounts 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.
Rebecca Hendy, Chair
INDEPENDENT EXAMINER’S STATEMENT
27th May 2022
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:
-
Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
The accounts do not accord with those records.
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.
Jason Foxwell FCCA FCIE
independent-examiner.net, 39 Enfield Road, Poole BH15 3LJ
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RECEIPTS AND PAYMENTS ACCOUNTS
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Hendy Foundation 1180518
Receipts and payments accounts
CC16a
For the period from 1-Jan-21 To 31-Dec-21
Section A Receipts and payments
Unrestricted funds Restricted funds Endowment funds Total funds Last year
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Hendy Group donations 31,332 2,000 - 33,332 12,500
Donations from third parties 7,509 - - 7,509 10,692
Pennies charitable donations 14,706 - - 14,706 4,378
People's Fundraising 745 - - 745 -
Sub total(Gross income for AR) 54,292 2,000 - 56,292 27,570
Total receipts 54,292 2,000 - 56,292 27,570
A3 Payments
Grants paid 52,690 - - 52,690 26,703
COVID-19 grants - - 4,760
Foodbank grants (restricted) - - - 3,000
Administration costs 285 - - 285 688
Sub total 52,975 - - 52,975 35,151
Total payments 52,975 - - 52,975 35,151
Net of receipts/(payments) 1,317 2,000 0 3,317 (7,581)
A5 Transfers between funds - - - - -
A6 Cash funds last year end 27,063 - - 27,063 34,644
Cash funds this year end 28,380 2,000 - 30,380 27,063
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Section B Statement of assets and liabilities at the end of the period
| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period |
|---|---|---|---|---|---|---|---|---|---|
| Categories | Details | Unrestricted funds | Restricted funds | Endowment funds | |||||
| to nearest £ | to nearest £ | to nearest £ | |||||||
| B1 Cash funds | HSBC Bank a/c | 28,380 | 2,000 | - | |||||
| Total cash funds | 28,380 | 2,000 | - | ||||||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Print Name | Date of approval | ||||||
| REBECCA HENDY | |||||||||
| CHRISTINE DREW |
hendyfoundation.org
Hendy Foundation Registered Charity Number 1180518, School Lane, Chandlers Ford, Eastleigh, Hampshire SO53 4DG.