Charity Number: 1184873
## **THE DASHLIGHT FOUNDATION**
**(Charitable Trust)**
## **REPORT AND FINANCIAL STATEMENTS**
**for the year ended**
**31 March 2022**
## The Dashlight Foundation
## Annual Report and Accounts for the Year Ended 31 March 2022
|**CONTENTS**|**_page_**|
|---|---|
|Trustees' Annual Report|_1 - 4_|
|Independent Auditor's Report|_5 - 7_|
|Statement of Financial Activities|_8_|
|Balance Sheet|_9_|
|Statement of Cash Flows|_10_|
|Notes to the Accounts|_11 - 15_|
## The Dashlight Foundation
## Report of the Trustees for the year ended 31 March 2022
The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2022. The Financial Statements have been prepared in accordance with the accounting policies set out on page 9 and comply with the charity’s trust deed and applicable law.
## **Structure, Governance and Management**
The Dashlight Foundation was established on 23 May 2019 by the settlors, Owen and Jacqueline Clarke. It is a registered charity no. 1184873.
The power to appoint additional Trustees rests with the settlors during their lifetime. Should new trustees be appointed, a formal induction process would be carried out. Other training is undertaken as and when appropriate.
**Trustees** Owen John Clarke Jacqueline Paula Clarke Bethany Ellen Clarke Dominic Hugh Clarke
Hannah Patricia Clarke (appointed 5 April 2022)
**Principal Office Auditors Bankers** Flat G HPH, Chartered Accountants CAF (Charities Aid Foundation) 49 Wellington Street 54 Bootham 25 Kings Hill Avenue London York Kings Hill WC2E 7BN YO30 7XZ West Malling Kent ME19 4TA
## **Risk Management**
The Trustees have a number of policies in place which are reviewed and updated periodically. These include donation making guidelines and policies covering overseas donations, conflicts of interest, investment and safeguarding. The Trustees have considered the major strategic, business and operational risks which the charity faces and consider that appropriate systems and processes are in place and reports are produced to monitor and mitigate these risks.
## **Objectives and activities**
The Foundation allocates funds for general charitable purposes. It does so by supporting a range of charitable organisations with the following main areas of focus:
- Relief of mental illness (including dementia), support for individuals suffering from mental illness and promotion of mental health among people living in the UK.
- Support for charitable activities in Yorkshire for the benefit of the public in Yorkshire.
- Prevention or relief of poverty and advancement of education of young people anywhere in the world, but particularly in Africa.
- Protection of environmental habitats and support for wildlife, including marine habitats and wildlife.
These areas of focus are not exclusive and other areas may be considered from time to time, including support for refugees and migrants.
1
## **Public benefit**
In meeting the objectives the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and judge that all donations made meet this guidance. All grants are listed in note 4 on page 13.
## **Our approach**
The Trustees use their own research and experience to decide which charitable organisations should benefit from funding. They will also selectively consider grant applications (preferably by email).
Most of our grants are to charities which are established, but relatively small, where we believe our support can make a meaningful difference and those running the charity are close to their charitable activities. However, Dashlight occasionally supports larger charities if we believe they have a material impact in one of our areas of focus.
We seek to identify charities which we are enthusiastic to support and then empower them to identify their priorities and how best to deliver them. We therefore aim to make the process by which the Trustees review applications for funding as streamlined as possible and we normally provide unrestricted funds, rather than funding a specific project.
During the year we have increasingly sought to consider when we make a grant whether we are likely to consider further grants to the charity in future. Where this is the case, we typically request a short report from the charity a year after our grant and, following receipt of that report, consider whether to provide a further grant. However, we do not normally provide a charity with any commitment to future support.
We aim to stay mindful of the power dynamic involved in foundation funding and recognise this as an area where we continue to learn. We are committed to looking for ways to redress the potential risks involved, particularly in supporting charities active in developing countries.
## **Achievements and performance**
During the year we supported 17 charities with donations totalling £348,988. This is a material increase on the prior period and delivered on our aim to make donations in the region of £200,000 to £400,000 per annum. The following summarises our grants during the year:
2
## **Achievements and performance (continued)**
We continued to be successful in identifying a number of conservation charities to support which are involved in tackling demand for products of trade in wildlife in Asia and supporting wildlife and habitat conservation, including marine wildlife and habitats. We supported ten conservation charities in total.
We provided grants to four charities supporting communities in Africa, providing skills and training, better availability of water and improved agricultural techniques to help individuals out of poverty, and supply of low cost prosthetics. In considering these grants, the Trustees reviewed the extent of involvement of local communities both in the operational activities of the charity and in its governance and strategic decision making.
In the area of mental health we recognise the complexity of the issues involved, and links between poor mental health and deprivation, alcohol and drug abuse and other factors. We sought to identify charities making a meaningful impact whilst complementing, not substituting, publicly funded services. We supported two charities in this category during the year.
Three of the conservation charities and one of the mental health charities supported were Yorkshire based, or in one case was a grant provided to support a project in Yorkshire. These are included under the “conservation” and “mental health” categories in the pie chart above.
We provided a grant to one charity supporting refugees and migrants.
Of the 17 grants provided during the year, 6 were to charities which we had previously supported (3 of these in the prior financial year).
## **Financial Review**
The Foundation’s income during the year was a receipt of shares in Admiral Group PLC with a value of £1,064,295 and dividend and interest income totalling £56,833.
Total expenditure was £355,587, of which 98% was spent on charitable activities and 2% on support costs.
During the year, the value of investments held by the Foundation reduced by £158,929. At the end of the year the Foundation held unrestricted funds totalling £2,142,198.
## **Reserves policy**
It is the policy of the trustees to maintain unrestricted funds at a level sufficient both to maintain an active ongoing grant-making programme, as well as to fund future commitments which might be entertained or entered into. The reserves policy is reviewed annually.
## **Plans for the future**
The Trustees will be investing the trust capital in order to generate a regular return of income.
## **Trustees’ responsibilities in relation to the financial statements**
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
3
## **Trustees’ responsibilities in relation to the financial statements (continued)**
- State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Auditor**
HPH, Chartered Accountants was appointed Auditor to the charity during the year.
Approved by the Trustees on 26 August 2022 and signed on their behalf by:
Owen J Clarke Trustee
Jacqueline P Clarke Trustee
4
**HPH**
**Chartered Accountants**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF**
## **THE DASHLIGHT FOUNDATION**
## **Opinion**
We have audited the financial statements of The Dashlight Foundation for the year ended 31 March 2022 which comprise Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
5
**HPH**
**Chartered Accountants**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF**
## **THE DASHLIGHT FOUNDATION**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charity’s Act 2011 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and income recognition. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, and detailed substantive testing on the completeness of income.
6
**HPH**
**Chartered Accountants**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF**
## **THE DASHLIGHT FOUNDATION**
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
HPH, Statutory Auditor
54 Bootham York YO30 7XZ
16 December 2022
7
## The Dashlight Foundation
## Statement of Financial Activities for the year ended 31 March 2022
|**Income from:**
_Note_
Donations and legacies
_2a_
Investment income
_2b_
Other income
_2b_
**Total income**
**Expenditure on:**
Charitable activities
_3_
**Total expenditure**
**Net (losses) on investments**
**Net income / (expenditure) and net movement in**
**funds**
**Funds brought forward 1 April 2021**
**Funds carried forward 31 March 2022**
**Net income/(expenditure) and net movement in funds before**
**gains on investments**|**2022**
**£**
1,064,295
56,833
227
1,121,355
355,587
355,587
765,768
(158,929)
765,768
1,535,359
£2,142,198|**2021**
**£**
-
-
579|
|---|---|---|
|||579|
|||172,466|
|||172,466|
|||(171,887)
-
(171,887)
1,707,246|
|||£1,535,359|
**All funds are unrestricted and derive from continuing activities.**
The notes on pages 10 to 15 form part of these accounts.
8
## The Dashlight Foundation
Balance Sheet at 31 March 2022
|_Note_
**Fixed assets**
Investments
_8_
**Current assets**
Cash at bank and in hand
_10_
**Creditors: amounts falling due within one year**
Creditors and accruals
_9_
**Funds of the charity**
Unrestricted
_11_
**Total net assets**
**Net current assets**|**£**
**£**
955,366
1,456,306
269,474
1,186,832
£2,142,198
£2,142,198
**2022**|**£**
**£**
-
1,537,759
2,400
1,535,359
£1,535,359
£1,535,359
**2021**|**£**
**£**
-
1,537,759
2,400
1,535,359
£1,535,359
£1,535,359
**2021**|
|---|---|---|---|
|||||
||||£1,535,359|
||||£1,535,359|
Approved by the Board of Trustees on 26 August 2022 and signed on their behalf by:
Owen J Clarke Jacqueline P Clarke Trustee Trustee
The notes on pages 10 to 15 form part of these accounts.
9
## The Dashlight Foundation
## Statement of Cash Flows
## for the year ended 31 March 2022
|**2022**
**£**
Net cash used in operating activities (see below)
976,009
Purchase of investments
(1,114,295)
Cash equivalents at beginning of the year
1,537,759
Dividends, interest and rents from investments
56,833
Cash equivalents at end of the year
£1,456,306
**Reconciliation of net income to net cash flow from operating activities**
**2022**
**£**
Net income / (expenditure) for the reporting period
606,839
Adjustments for:
Decrease in debtors
-
Increase / (decrease) in creditors
267,074
Losses on investments
158,929
Dividends, interest and rents from investments
(56,833)
Net cash used in operating activities
976,009
**At**
**01/04/2021**
**Cash-flows**
**£**
**£**
Cash
1,537,759
(81,453)
(81,453)
1,537,759
(81,453)
**Analysis of changes an net debt**|**2021**
**£**
185,393
1,352,366|
|---|---|
||£1,537,759|
||**2021**
**£**
(171,887)
361,840
(4,560)
-
-|
||£185,393|
||**At**
**31/03/2022**
**£**
1,456,306|
||1,456,306|
10
## The Dashlight Foundation Notes to the Accounts for the year ended 31 March 2022
## **1. Accounting policies**
## a) Basis of accounting
These accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th UK and Republic of Ireland (FRS 102) issued on 16th July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies on 1 October 2019.
The Dashlight Foundation constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements have been prepared to give a "true and fair view" and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair view". This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn.
The Trustees have a reasonable expectation that the Charity has sufficient resources to be able to continue in existence for the forseeable future and that they therefore believe that the going concern basis of accounting is appropriate in the preparation of the accounting statements.
## b) Donations, legacies and similar income
Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured wuth sufficient reliability.
## c) Expenditure
All expenses are accounted for on an accruals basis and includes the irrecoverable element of Value Added Tax.
Charitable activities are those activities which are undertaken to meet our charitable objectives. See note 3
## d) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid.
## e) Cash at bank
Cash at bank and in hand includes cash and any short-term deposit accounts with a maturity of three months or less from the opening date.
11
## The Dashlight Foundation
## Notes to the Accounts - continued for the year ended 31 March 2022
## f) Creditors
Creditors are recognised where the Charity has 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 recognised at their settlement amount after allowing for any trade discount due.
## g) Funds
Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
## h) Taxation
The charity is exempt from tax on its charitable activities and is not registered for Value Added Tax. Wherever possible, Gift Aid is recovered on cash donations.
## **2. Income from:**
## **a) Donations and legacies**
|Dividends receivable
**Total income**
Donation of shares
Interest receivable on interest-bearing accounts
**b) Investment income**|**2022**
**£**
1,064,295
56,833
227
£57,060|**2021**
**£**
-|
|---|---|---|
|||-
579|
|||£579|
12
## The Dashlight Foundation
Notes to the Accounts - continued for the year ended 31 March 2022
## **3. Charitable activities**
|Activities supporting mental health
Causes in Yorkshire
Relief of poverty
Support for refugees
**4. Grants paid or payable**
Build It International
Durrell Wildlife Conservation Trust
Excellent Development*
Legs4Africa
Lighthouse Relief
Oceana UK
Open Country
Route One to Wellness
Painted Dog Conservation UK
Saving the Blue
The Honey Guide Foundation
The Shark Trust
Tiyeni
Vetlife
WildAid
The Woodland Trust
Yorkshire Wildlife Trust
Other grants awarded in 2021
Wildlife conservation,
including marine wildlife|**£**
**£**
48,669
920
170,000
3,215
-
-
100,000
1,891
30,319
573
£348,988
£6,599
Regisered Charity No.
1115989
1121989
1094478
1158697
Greece
1119722
1107331
1112425
1074559
USA
Africa
1064185
1194177
224776
USA
294344
210807
**Activities**
**Undertaken**
**Directly (see**
**note 4)**
**Support**
**Costs (see**
**note 5)**|**Total**
**£**
49,589
173,215
-
101,891
30,892
£355,587
30,000
15,000
30,000
20,000
30,319
20,000
5,000
23,669
20,000
10,000
20,000
20,000
20,000
25,000
25,000
15,000
20,000
-
£348,988|**2021**
**£**
55,962
55,962
14,754
45,788
-|
|---|---|---|---|
||||£172,466|
||||30,000
-
-
-
-
-
-
-
-
5,000
-
30,000
-
-
-
-
-
104,500|
||||£169,500|
* Excellent Development was subsequently renamed Sand Dams Worldwide Limited
13
## The Dashlight Foundation
## Notes to the Accounts - continued
## for the year ended 31 March 2022
## **5. Support costs**
|**5. Support costs**
**Governance costs**
Accountancy fees
Independent examiner's fees
Auditor's fees
**Other costs**
Bank charges
Subscriptions
Investment fees
Other
**Total expenditure on support costs**|**2022**
**£**
1,900
-
1,500
3,400
171
120
1,833
1,075
3,199
£6,599|**2021**
**£**
2,040
600
-|
|---|---|---|
|||2,640|
|||114
212
-
-|
|||326|
||||
|||£2,966|
## **6. Payments to Trustees**
## **6.1 Trustees' remuneration and benefits**
None of the Trustees have been paid any remuneration or received any other benefits from the Charity.
## **6.2 Trustees' expenses**
No Trustees' expenses were reimbursed in the year ended 31 March 2022 (2021 - £nil).
## **7. Related party transactions**
There have been no transations with persons or entities that are closely connected to the charity or its trustees.
14
## The Dashlight Foundation
## Notes to the Accounts - continued
## for the year ended 31 March 2022
## **8. Investments**
|**8. Investments**
Market value as 1 April 2021
Additions
Revaluation
Market value at 31 March 2022
**9. Creditors and accruals**
Gift aid
Accruals
**10. Cash at bank and in hand**
Cash at bank
**11. Unrestricted funds**
Funds at 1 April 2021
Income
Expenditure
Balance at 31 March 2022|**Net current assets**
**£**
1,535,359
5,227
(353,754)
£1,186,832|**2022**
**£**
-
1,114,295
(158,929)
£955,366
**2022**
**£**
266,074
3,400
£269,474
**2022**
£1,456,306
**Investments**
**£**
-
1,116,128
(160,762)
£955,366|**2021**
**£**
-
-
-|
|---|---|---|---|
||||-|
||||**2021**
-
2,400|
||||£2,400|
||||**2021**
£1,537,759|
||||**_Total_**
**£**
1,535,359
1,121,355
(514,516)|
||||£2,142,198|
15