## **Registered Charity no. 1183399 Company no. 11225248**
## **Bleu Blanc Rouge Foundation Limited**
**Trustees’ report and financial statements for the year ended 31 December 2024**
**Bleu Blanc Rouge Foundation Limited**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees’ report|2|
|Independent Examiner’s report|8|
|Statement of financial activities|9|
|Balance sheet|10|
|Statement of cash flows|12|
|Notes to the financial statements|13|
**Bleu Blanc Rouge Foundation Limited**
## **Legal and administrative information**
|**Trustees**|Isabelle Georgeaux (Chair)|
|---|---|
||Chloe Georgeaux-Healy|
||Liam Georgeaux-Healy|
||Lynn Hohenfeld|
|**Bankers**|Royal Bank of Canada|
||Gaspe House|
||66-72 Esplanade|
||St Helier|
||Jersey|
||JE2 3QT|
|**Independent Examiner**|Cara Turtington FCA DChA|
||Saffery LLP|
||71 Queen Victoria Street|
||London|
||EC4V 4BE|
|**Registered address**|18–19 Albemarle Street|
||London|
||England|
||W1S 4HR|
1
**Bleu Blanc Rouge Foundation Limited**
**Trustees’ report Fort the year ended 31 December 2024**
## **Trustees ’ Report for the year ended December 2024**
The trustees present their report with the financial statements of Bleu Blanc Rouge Foundation Limited (UK) (the Trust) for the year ended 31 December 2024.
The accounts have been prepared in accordance with the accounting policies set out in pages 14 to 15 of the attached accounts and comply with the Charity’s governing document, applicable laws and Accounting and Reporting by Charities; Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FR102), (SORP (FRS 102)).
## **Introduction**
The Charity has a clear and focused strategy focusing on supporting vulnerable and disadvantaged children and young people, with a specific focus on children and young people in and leaving care. This focus has remained the same since the earliest days of the foundation but has been refined over the years as the Trustees have learned more about the issue that sits at the core of their work and how they can best be of service to the young people that they seek to support.
The Trustees seek, through their grant-making, to support organisations focused on both responding to and solving issues facing young people in and leaving the care system — the challenges faced by the young people supported by the Charity could result from lacking family, from poverty, from facing unemployment, from involvement in violence, or from susceptibility to early parenthood, mental illness, addictions or infections and disease.
In responding to these challenges, the Trustees recognise that youth, risk, and vulnerability are often balled up together in a way that sees young people as the problem (or the solution)—rather than as participants in societies and in a global community that are fraught with many problems. The constraints, opportunities, and the means by which youth negotiate their transition into greater responsibility and adulthood have much to tell us about the conditions of the local and global communities in which they live.
Young people are vulnerable not just because they are young or undergoing rapid developmental transitions. Perhaps more fundamentally, they are vulnerable because they are people who live in an unequal world where the social values and institutions that permit opportunities and possibilities of all kinds are not available to everyone.
This strategic approach means responding to complicated and interconnected forces that sustain poverty, reproduce inequality, and maintain social exclusion. Addressing risks and vulnerabilities associated with youth means addressing the more systemic disparities and disadvantages that diminish their life chances on local and global scales. To that end, the Trustees aim to support organisations that understand the assets that young people bring to the table, and that are built to listen effectively to the young people they seek to serve.
2
**Bleu Blanc Rouge Foundation Limited**
**Trustees’ report Fort the year ended 31 December 2024**
## **Structure, Governance and Management**
The Charity is a charitable company limited by shares incorporated in England and Wales. The registered office is Islandbridge Capital, 18/19 Albemarle Street, London, W1S 4HR.
## **Trustees**
The trustees who served during the period were:
Isabelle Georgeaux Chloe Georgeaux-Healy Liam Georgeaux-Healy Lynn Hohenfeld
The trustees held a full board meeting twice during the year.
The trustees are required to disclose all relevant interests and withdraw from decisions where a conflict of interest arises.
The power of appointing new trustees is vested in the trustees.
## **Decision-making**
The trustees hold ultimate responsibility for the policies, activities and assets of the charity: they agree the grant-making strategy and policies of the trust, review funding proposals, approve grants, assess grant-holder progress, review financial performance of the investment portfolio and agree investment policies. When necessary, the trustees seek advice and support from professional advisers, including investment managers, who attend one meeting annually.
## **Management**
The day-to-day management and operations of the Charity are supported by Islandbridge Capital and Greenwood Place.
## **Objectives and Activities**
The Charity exists and operates for the public benefit. Its main activity is the award of grants to registered charities.
The trustees confirm they have referred to the guidelines contained in the Charity Commission ’ s general guidance on public benefit when reviewing the Charity's aims and objectives, considering grant awards and managing the Charity’s assets.
## **Grant-making policy and aims**
The Charity's key geographic areas of focus are the United Kingdom and Ethiopia; however, grants may also be made to charities that are exclusively charitable under the laws of England and Wales and within the Charity's broad strategy.
The Charity currently takes a proactive approach to identifying organisations and is unable to consider unsolicited applications. The Charity does not make grants to individuals.
3
## **Bleu Blanc Rouge Foundation Limited**
## **Trustees’ report Fort the year ended 31 December 2024**
The Charity uses its resources where it feels they can be effective to help people who are particularly vulnerable, disadvantaged and easy to ignore. The Charity has developed a particular focus on children, teenagers and young adults with care experience. At the Trustee ’ s discretion, grants are also made to organisations working in other spheres.
The trustees aim to fund frontline service delivery by charities that promote the voices and lived experiences of their beneficiaries to transform the wider system, and are happy to work in partnership or co-fund with other organisations to fund initiatives beyond their financial scope as a funder.
The Trustees tend to provide long-term, unrestricted funding to a small number of partners, all of whom bring a relationship-centred approach to their work - building from the individual strengths and needs of all beneficiaries and placing the lived experience and aspirations of service users at the heart of their work.
In their grant-making work, the trustees strive to meet the following values :
- Be thorough, curious and thoughtful in their questioning whilst ensuring that everything they do and ask for is proportionate and that their processes are as streamlined as possible.
- Ensure that their methods are transparent and that information is presented in a digestible manner.
- Apply consistency in their approach. They believe in the power of building strong relationships and Charity with partners whilst retaining objectivity in our analysis.
- Approach all interactions with potential and actual grantee partners in a collaborative, supportive and respectful manner.
## **Achievements and Performance**
Through the year, money was transferred to the US Foundation where strategic grants were made to the grantees listed below.
## Carefree Cornwall
Carefree Cornwall works with young people across Cornwall, aged 11-25, who are in and leaving care. The charity offers positive activities, events and projects that help young people develop their social and emotional skills so that they have a better chance of growing up into positive, healthy citizens. Other key aims of Carefree are to support and encourage young people who are in and leaving care to have their voices heard at a local level and to share the organisation ’ s learning widely.
## Children and Families Across Borders
Children and Families Across Borders’ team of international children ’ s social workers identify and protect the increasing number of children who have become separated from their families across international borders and where possible reunite them with their families in the UK and overseas. They work with partners in over 120 countries.
## Drive Forward Foundation
Drive Forward supports young people coming out of the care system to gain independent living skills, get jobs and qualifications - and most importantly, to achieve the self-worth, purpose and stability attached to being in meaningful, sustained employment.
## The Home Project
THP operates dedicated shelters for the most vulnerable unaccompanied minor immigrants in Greece. They provide young people with a home as well as practical, long-term holistic support - supporting them with therapy, educational support and practical ways to serve in the local community.
4
**Bleu Blanc Rouge Foundation Limited**
**Trustees’ report Fort the year ended 31 December 2024**
## Kazzum Arts
Kazzum Arts provides creative opportunities for children and young people who have been affected by adverse childhood experiences. Their unique trauma-informed approach to creative practice helps participants improve wellbeing, emotional literacy, communication skills and to reduce their stress levels.
## Lighthouse
Lighthouse aims to ensures that children in residential care have the same opportunities as everyone else by creating relationship-centred, education-focused children’s homes. The charity provides thoughtfully designed accommodation and individualised trauma-informed care and support for young people aged 12-18.
## The Big House
The Big House is a London-based charity that empowers care leavers to reach their potential. The flagship project is an intensive 12-week programme of life skills and drama participation culminating in an original, full-scale theatre production that elevates the participants’ voices. Alongside this, nearly 200 people each year attend drop-in workshops and build a network of peer support.
## The Old Vic Theatre Trust
The Old Vic works to promote theatre as a force for good in society, producing plays of the highest quality and engaging new and existing audiences with original, socially relevant work alongside world class revivals.
## The National House Project
Care leavers often lack skills, qualifications, life skills, community & the chance to succeed. The National House Project (NHP) is an umbrella body which - via a network of Local House Projects - helps young people move on successfully from care into independent living in their own homes.
## Settle
Settle's mission is to prevent youth homelessness by equipping care-experienced young people with the skills to manage their tenancies and wellbeing. Settle's award-winning approach and intensive support system play a pivotal role in ensuring young people's successful transition to independent living.
## Juno
Juno focuses on providing homes for children that are more than safe – they are stable, loving, nurturing, and aspirational. Their care philosophy, based on social pedagogy, aims to encompass all aspects of a young person's development. Their success metrics involve placement stability, educational attainment, and satisfaction ratings from young people, reflecting their commitment to improving life chances and happiness into adulthood.
## **Looking ahead**
The ongoing cost of living crisis has had a particularly negative effect on the vulnerable young people that the Trustees seek to serve through their grant-making, and a difficult funding environment has added to this - placing additional stress on the charities that are the Charity’s core partners. The Charity has sought to provide support by maintaining relationships - there has been very little change to the Charity’s core portfolio of grantees over recent years - as well as by keeping in close touch with its grantees and their work to understand and respond to their needs - providing additional support wherever needed.
5
**Bleu Blanc Rouge Foundation Limited**
**Trustees’ report Fort the year ended 31 December 2024**
The trustees have placed a particular emphasis this year on visiting grantees, getting to know their work and understanding where they can be most helpful. This has included arranging an in-depth professional exchange between social workers and senior leadership teams in order to provide crosspollination and enable partner organisations to build and refine their practice. Participants reported that the exchange programme was extremely valuable and has enabled improved practice for both participating organisations. It is anticipated that the Charity will provide more opportunities in future for grantee partners to come together for mutual support and learning.
As an independent grant-making trust, our broad aim for the coming year will be to support resilience and continued learning in our existing grantees who are carrying out vital work supporting vulnerable children and young people
## **Financial Review**
Total income for the period under review amounts to £78,302 (2023: £841,446). Of this income £nil (2023: £782,646) related to donation income and associated gift aid income from the Trustees.
The Charity made grants to third parties totalling £nil (2023: £474,000). In 2024, no income was received from the US Foundation (2023: £nil). In 2024, a further grant of £2,541,805 (2023: £856,809) was made to the Bleu Blanc Rouge Foundation US.
As at 31[st ] December 2024 the total unrestricted reserves of the Charity were £3,534,593 (2023: £6,063,680).
## Reserves Policy
The balance sheet shows total reserves of £3,534,593 (2023: £6,061,381), which are sufficient to meet all known or anticipated commitments. They are not subject to any restrictions and are all free reserves available to be spent on the charity's activities. The trustees ’ policy is to hold sufficient cash to sustain the current level of grant making to beneficiaries and to meet all liabilities that are known or can be reasonably anticipated, thus avoiding the need to dispose of investments, with the attendant costs and adverse effect on performance. Although there is no restriction on their spending powers, the trustees regard cash deposits as representing spendable reserves and investments as long-term capital assets.
## Risk Management
The trustee body includes a broad mix of skills and experience - drawn from amongst the founding family and additional professional advisors. The trustees are supported by Greenwood Place, which provides a professional grant management team that includes experienced charity trustees. Effective internal control is maintained by delegating responsibilities and performance measurement. Procedures are kept under regular review.
The trustees regularly assess the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity, its investments and its finances. The trustees believe that by monitoring finances, by ensuring controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
The Trustees take their responsibilities under the Charities (Protection and Social Investment) Act 2016 seriously and have considered its impact on their activities. The charity is currently funded solely by the founder and does not actively fundraise from the general public. Its policy is not to engage in active fundraising at this time and it has received no complaints in relation to its fundraising activities.
Key principal risks and the steps taken to mitigate these risks include the following:
6
##
##
##
**Independent examiner’s report to the trustees of Bleu Blanc Rouge Foundation Limited (‘the Company’)**
## **Bleu Blanc Rouge Foundation Limited**
I report to the trustees on my examination of the accounts of Bleu Blanc Rouge Foundation Limited (‘the Company’) for the year ended 31 December 2024.
## **Respective Responsibilities of trustees and examiner**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **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 Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. 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.
Signed:
Cara Turtington FCA DChA 16 June 2025 Saffery LLP 71 Queen Victoria Street Statutory Auditors London EC4V 4BE
8
**Bleu Blanc Rouge Foundation Limited**
## **Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 December 2024**
|**Income and endowments from:**
Donations and legacies
**2**
Investment income
**2**
Interest income
**2**
**Total**
**2**
**Expenditure on:**
Raising funds
**3**
Charitable activities
**4**
Net income /(expenditure) before
investment movements
Gain/ (loss) on investments
**6**
Foreign exchange (losses) / gains
**Net income/ (expenditure) and net**
**movement in funds**
**5**
Balance brought forward at 1 January
2024
**Balance carried forward at**
**31 December 2024**|**Total**
**2024**
**£**
-
51,627
26,675
78,302
31,895
2,643,165
(2,596,758)
156,229
(86,259)
(2,526,788)
6,061,381
3,534,592|**Total**
**2023**
**£**
782,646
48,652
10,148|
|---|---|---|
|||841,446|
|||59,864
1,472,462|
|||(690,880)
(306,352)
212,618|
|||(784,614)|
|||6,845,995|
|||6,061,381|
The Statement of Financial Activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 13 to 19 form part of these financial statements.
9
**Bleu Blanc Rouge Foundation Limited Balance Sheet**
## **As at 31 December 2024**
|**Notes**
**Fixed assets**
Investments
**6**
**Current assets**
Cash at bank
Debtors
**7**
**Current liabilities**
Creditors: amounts falling due within one year
**8**
Net current assets
**Net assets**
**Called up share capital**
**Unrestricted funds**
**Total funds**|**As at**
**31 December**
**2024**
**£**
3,535,526
5,732
1
5,733
6,666
(933)
5,534,593
1
5,534,592
3,534,593|**As at**
**31 December**
**2023**
**£**
6,017,441
29,652
28,088|
|---|---|---|
|||57,740
13,800|
|||43,940|
|||6,061,381|
|||1
6,061,380|
|||6,061,381|
For the year ended 31 December 2024 the charitable company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
The Trustees have prepared the accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
10
##
**Bleu Blanc Rouge Foundation Limited Statement of Cash Flows For the year ended 31 December 2024**
|**Notes**
**31 December**
**2024**
**£**
**Cash flows from operating activities:**
**_Net cash provided by operating activities_**
(2,719,942)
**Cash flows from investing activities:**
Purchase of investments
(1,906,298)
Disposal of investments
4,464,376
Dividends
57,879
**Net cash outflow from investing activities**
2,615,957
**_Change in cash and cash equivalents in the_**
**_year_**
(103,986)
**Cash and cash equivalents at 1 January**
**2024**
185,126
**_Cash and cash equivalents at 31 December_**
**_2024_**
81,141
**Cash flows from operating activities:**
**_Net (expenditure)/income for the year_**
(2,526,788)
**_Adjustments for_**
Non cash movement in investments
**6**
(Gains) / losses on investments
(156,229)
Decrease/(Increase) in debtors
28,087
(Decrease) /Increase in creditors
(7,134)
Dividends
(57,879)
**_Net cash provided by operating activities_**
(2,719,942)
**Analysis of changes in net debt**
**As at 1 Jan**
**2024**
**Cashflows**
Cash at bank
29,652
(23,920)
Cash held as part of the investment
portfolio
155,474
(80,065)
185,126
(103,985)|**Notes**
**31 December**
**2024**
**£**
**Cash flows from operating activities:**
**_Net cash provided by operating activities_**
(2,719,942)
**Cash flows from investing activities:**
Purchase of investments
(1,906,298)
Disposal of investments
4,464,376
Dividends
57,879
**Net cash outflow from investing activities**
2,615,957
**_Change in cash and cash equivalents in the_**
**_year_**
(103,986)
**Cash and cash equivalents at 1 January**
**2024**
185,126
**_Cash and cash equivalents at 31 December_**
**_2024_**
81,141
**Cash flows from operating activities:**
**_Net (expenditure)/income for the year_**
(2,526,788)
**_Adjustments for_**
Non cash movement in investments
**6**
(Gains) / losses on investments
(156,229)
Decrease/(Increase) in debtors
28,087
(Decrease) /Increase in creditors
(7,134)
Dividends
(57,879)
**_Net cash provided by operating activities_**
(2,719,942)
**Analysis of changes in net debt**
**As at 1 Jan**
**2024**
**Cashflows**
Cash at bank
29,652
(23,920)
Cash held as part of the investment
portfolio
155,474
(80,065)
185,126
(103,985)|**31 December**
**2023**
**£**
(1,310,818)
(4,907,786)
4,098,405
48,652|
|---|---|---|
|||(761,829)|
||||
|||(2,072,646)|
|||2,257,772|
|||185,126|
|||(784,614)
(782,646)
306,352
(9,148)
7,890
(48,652)|
|||(1,310,818)|
|||**As at 31**
**Dec 2024**
5,732
75,409
81,141|
||185,126
(103,985)||
12
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
## **1. Accounting policies**
## 1.1 Basis of accounting
The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared under the historic cost convention in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition) and the Companies Act 2006. The financial statements have been prepared in accordance with the second edition of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)).
The Charity is a public benefit entity as defined by FRS 102 and the functional currency is pound sterling.
The Trustees consider the Charity to be a going concern and subsequently the financial statements are drawn up on that basis. In forming their assessment, the Trustees have concluded there are no material uncertainties regarding the Charity’s ability to continue as a going concern.
## 1.2 Charity information
The Charity is a registered charity and a company incorporated in England and Wales limited by shares.
## 1.3 Income
Donations are accounted for in the year in which the Charity is entitled to receipt and include any associated gift aid.
## 1.4 Resources expended
Expenditure is included on an accruals basis.
Grants awarded are charged in full against income when the offer is conveyed to the beneficiary, except in those cases where the offer is conditional and therefore recognised as expenditure when the conditions attached are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued as an expense.
## 1.5 Governance costs
Governance costs comprise all costs involving the public accountability of the charity and costs related with statutory requirements.
## 1.6 Funds
Unrestricted funds represent the balance of income from all sources after deduction of grants made and other necessary expenditure.
## 1.7 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts.
13
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
- 1.8 Investments
- Quoted securities and multi-asset funds comprise publicly quoted, listed securities including shares, bonds and units. These are stated at mid-market value at the balance sheet date. Realised and unrealised gains and losses on investments are accounted for in the Statement of Financial Activities.
- 1.9 Creditors
- Creditors and provisions are recognised where the Charity as a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
- 1.10 Taxation
- The Charity is a registered charity and is not liable to United Kingdom income tax or corporation tax on charitable activities.
- 1.11 Foreign currencies
- The financial statements are presented in pound sterling (£), which is the Charity’s functional and presentation currency. Monetary amounts in these financial statements are rounded to the nearest £.
Transactions denominated in foreign currencies are translated at the rate of exchange prevailing at the time of the transaction. Foreign currency balances are translated at the rate of exchange prevailing at the Balance Sheet date. Foreign exchange gains and losses are included in the SOFA within expenditure on charitable activities.
- 1.12 Financial instruments
- The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, which include, debtors are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
- 1.13 Critical accounting judgements and key sources of estimation uncertainty In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparently from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
14
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
|**2.**
**Income**
Donation income
Interest income
Investment income
**3.**
**Raising funds**
Investment management fees
**4.**
**Charitable activities**
**Costs of grant making**
Grants made
Grant made to BBRF US
**Support costs**
Management fees
Legal fees
Advisory fees
Bank fees
Bank revaluations
**Governance costs**
Accountancy and tax advice
Independent examination / audit fees||**Unrestricted**
**Income**
**2024**
**£**
-
26,675
51,627|**Unrestricted**
**Income**
**2023**
**£**
782,646
10,148
48,652
841,446
**2023**
**£**
59,864|
|---|---|---|---|
|||78,302||
|||**2024**
**£**
31,895
**2024**
**£**
-
2,541,805
89,516
-
-
3,171
1,557
2,616
4,500
2,643,165||
||||**2023**
**£**
474,000
856,809
86,455
9,849
1,100
3,783
23,726
2,940
13,800|
||||1,472,462|
15
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
During the year grants were made to the following organisations:
|Drive Forward|-|50,000|
|---|---|---|
|Kazzum Arts Project|-|26,250|
|New Horizon Youth Centre|-|50,000|
|Safe Lives|-|30,000|
|Children and Families Across Borders|-|26,250|
|Carefree Cornwall|-|78,750|
|The Big House|-|52,500|
|The Old Vic|-|100,000|
|The National House Project|-|26,250|
|ARK|-|9,000|
|Collaborative Cures|-|25,000|
For more detailed information about recipients of grants during the year please refer to the Trustees’ report.
The Charity has no employees (2023: none). Professional consultants were used to provide grant management and other professional and accountancy services.
During the year no payments were made to any Trustee for their services (2023: nil). No expenses were reimbursed to Trustees in the year (2023: nil).
## **5. Net resources expended are stated after charging/(crediting) :**
|Amounts paid to independent examiner / auditor
-
for audit
-
for independent examination
-
for accounts preparation
Foreign exchange losses / (gains) on investments|**2024**
**2023**
**£**
**£**
-
11,700
4,500
-
2,616
2,100
86,259
(212,618)|
|---|---|
16
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
## **6. Investments**
|Market value brought forward at 1 January
Additions
Disposals
Decrease in investment cash
Unrealised gains/ (losses)
Realised gain on investments
Market value carried forward at 31 December
UK Listed investments
Overseas Listed investments
UK Cash
Overseas cash
Overseas other investments
Historical cost (including cash held in investments)|**2024**
**£**
6,017,441
1,906,298
(4,464,376)
(80,065)
25,328
130,901
3,535,526
171,028
2,685,551
19,155
56,110
603,681
3,535,526
4,068,074|**2023**
**£**
6,202,917
5,690,432
(4,097,305)
(1,472,251)
(692,047)
385,695|
|---|---|---|
|||6,017,441|
|||392,000
3,823,497
6,013
147,309
1,648,622|
|||6,017,441|
|||6,381,282|
There are no additions in the form of shares donated (2023: £782,646 in the form of 13,536 shares)
17
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
|**7.**
**Debtors**
Amounts owed by the parent charity
Prepayments
**8.**
**Creditors: amounts falling due within one year**
Accruals
**9.**
**Analysis of net assets**
**31 December 2024**
Non-current assets
Current assets
Current liabilities
Net assets
**31 December 2023**
Non-current assets
Current assets
Current liabilities
Net assets|**2024**
**£**
1
-
1
**2024**
**£**
6,666
6,666
**Unrestricted**
**fund**
**£**
3,535,526
5,733
(6,666)
3,534,593
**Unrestricted**
**Fund**
**£**
6,017,441
57,740
(13,800)|**2024**
**£**
1
-|
|**2023**
**£**
1
28,087|
|---|---|---|---|---|
|||1||28,088|
|||**2024**
**£**
6,666||**2023**
**£**
11,500|
|||6,666||11,500|
||||||
||6,061,381||||
18
**Bleu Blanc Rouge Foundation Limited**
## **Notes to the financial statements (continued) For the year ended 31 December 2024**
## **10. Share Capital**
|£1 ordinary shares|**Authorised**
**Allotted, called-up and**
**fully paid**
**31**
**December**
**2024**
**31**
**December**
**2023**
**31**
**December**
**2024**
**31**
**December**
**2023**
**£**
**£**
**£**
**£**
1
1
1
1|
|---|---|
||1
1
1
1|
At 31 December 2024 there was one share in issue (2023: one) and this share had not been fully paid.
## **11. Related party transactions**
During the period the Charity made grants to the parent of £2,541,805 (2023: £856,809) and received grants from the parent charity of £Nil (2023: £Nil).
## **12. Ultimate controlling party**
The Charity is wholly owned by Bleu Blanc Rouge Foundation US.
19