Charity Number: 1185999 EG FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2021
EG FOUNDATION CONTENTS Page Trustees and professional advisers Trustees. Annual Report Independent Examiner's report Statement of Financial Activities Balan sheet Notes to the financial statements
EG FOUNDATION MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Trustees M Issa Z Issa I Patel l Munshi Charity Secretary M Valli Registered office Euro Garages Limited Waterside Head Office Haslingden Road Blackburn BB12FA A¢¢ountsnts MHA Moore and Smalley Richard House 9 Winckley Square Preston PR1 3HP Charity registration number 1185999
EG FOUNDATION TRUSTEES. ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2021 The Trustee5 have pleasure in presenting their report and the unaudited financial statements of the charity for the period ended 31 December 2021. The financial slalements have been prepared in accordance with the accounting policies sel out on page 7 which comply with governing document and applicable law. The charity is a registered charity, number 1185999. The financial statements have been prepared in accordance with the accounting policies sel out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive October 20191. The Trustoes The Trustees who served the company during the period are as noted on page 1. Structure. governance and management EG Foundation is a CIO Foundation, registered 251h October 2019 as a charity in England and Wales Charity no. 1185999. The charity's day to day operational running is managed by the Foundation Manager who plays a vital role in advising the Trustees. The Trustees and the Foundation Manager meet regularly. The accounts cover the period from registration to 31 December 20201 Trustees of the charity and key management personnel The responsible persons for CIO are ils Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end are sel out on page 1. The charity considers ils key management personnel which comprise of four Trustees, who make decisions regarding the awarding and payment of grants to projects with the assistsnce of the Foundation Manager. Trustees are appointed by the current Trustees. Rlsk revlew We are working with established charitsble organisations based here in the UK and we have procedures in place to eliminate these financial risks as highlighted below. Vetting of all charitable and voluntary and grassroots organisations. Organisations lo which grants are awarded must be a registered charity, registered with respective government bodies in England, Wales and Scotland. Nonregistered, voluntary and grassrool organisations will need lo have a constitution and board members as a minimum. Face to face or virtual meetings held with all recipients who are to be awarded grants. Field visits by EG Foundation Manager or Trustees. Objectives, activities and public benefit EG Foundation has a vision to operate and enter into a partnership with other likeminded charities who can deliver on our vision lo improve on education, children and young people, health and wellbeing and the environment, which will enable EG Foundation lo create "our footprint for a brighter tomorrow Achievements and performance. The EG Foundation in 2021, made grants lo, community groups and charities based in here in the United Kingdom. These included hospices, schools, individuals with dementia and learning disabilities, and support for young people.
EG FOUNDATION TRUSTEES. ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2021 Grant maklng pollcy The Foundation supports proposals from charitable organisations, undertaking projects to improve on education, children and young people, health and wellbeing and in particularly disadvantaged communities. Requests received are reviewed by the EG Foundation Manager, who then advises the Trustees of the merits of each project. The Trustees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and selling the grant making policy for the year. Flnanclal revlew and reserves Total income for the year was £302,725 and expenditure was £218,812. Al the end of the year the charity had reslricled funds carried forward of £9,928 and unrestricted funds of £82,762. The Trustees are reviewing the reserves policy and will ensure funds are received to offset the deficit on unrestricted funds. Plans for future periods The principal objective of EG Foundation is lo improve on education, children and young people, health and wellbeing, in particular disadvantaged communities, by supporting projects led and delivered by registered charities that address these issues. The charity will continually Identify projects from time to b.me as determined by our trustees and Foundation Manager. EG Foundation will be supporting local organisations here in the United Kingdom to support the most vulnerable in our communities. This report was approved by the trustees on 2511012022 and signed on their behalf by.. Zuber Issa Trustee
EG FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2021 I report to the charity Iruslees on my examination of the accounts of EG Foundation for the year ended 31 December 2021 which are set out on pages 5 10 9 appended to this report. Responsibilities and basis of report As the charity's Iruslees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act'l. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the ACL Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confimi that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records., or the account5 do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Date: 2511012022 N Mason FCA, DChA MHA Moore and Smalley Chartered Accountants Preston
EG FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2021 2021 Total funds 2020 Total funds Unrestricted funds Restricted funds Income Note Donations and legacies Investment income 302.725 302.725 18.783 Total incoming resources 302.725 302.725 18.783 Expenditure Charitable activities 218,457 355 218,812 10,006 Total resources expended 218,457 355 218,812 10,006 Net movement in funds 84,268 {3551 83,913 8,777 Reconciliation of funds Funds brought foThvard 11,5061 10,283 ,777 Totsl funds carried foNiard 82.762 9,928 92,690 ,777
EG FOUNDATION BALANCE SHEET 31 DECEMBER 2021 2021 Total funds 2020 Total funds Unrestricted funds Restricted funds Noto Current assets Cash al bank and in hand 84.562 9.928 94.490 10.277 Creditors: amounts falling due within one year {1,8001 {1,8001 {1,5001 Net current assets 8,777 Total assets less currgnt liabilities 82.762 9.928 92,690 .777 Funds Reslricled funds Unrestricted funds 9.928 9.928 82.762 10.283 {1.5061 82.762 Total funds 82,762 9,928 92,690 ,777 These financial stslements were approved by the TTUStees on behalf by.. 2511012022 and are signed on their Zubgr Issa Trust99
EG FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021 Accounting policies Basis of accounting The financial statements have been prepared in accordance with 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 UK and Republic of Ireland IFRS 1021 (effective October 20191- (Charities SORP IFRS 10211 and the Financial Repoth'ng Standard applicable in the UK and Republic of Ireland IFRS 1021. The accounts are presented in £ rounded to the nearest £. The EG Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The Trustees assess whether the use of going conrn is appropriate i.e. whether there are any material uncertainties related to events or Conditions that may cast significant doubl on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of al least one year from the dale of authorisation for issue of the financial statements and have concluded that the charity has adequate resources lo continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability lo continue as a going concem. thus they continLJe lo adopt the going concern basis of accounting in preparing the financial statements. Donations and legacies Voluntary income received by way of donations and gifts is included in full in the Statement of Financi81 Activities ISOFAI when receivable. Resources expended All expenditure is accounted for on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and has been classified under headings that aggregate all costs related lo the category. Resources expended are allocated to the particular activity where the cost relates directly to that activity. Fund accounting Unreslricled funds can be used in accordance with the charity's charitable objectives at the discretion of the trustees. Cash flow statement The trustees have taken advantage of the exemption in SORP 2019 from including a cash flow statement in the financial statements on the grounds that the charity is small. Judgements and Key assumptions There are no judgements or assumptions required as part of the preparation of the accounts.
EG FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021 Donations and legacies 2021 2020 Unrestricted Restricted Totsl funds Total funds Donations 302,725 302,725 18,783 Donations in the prior year related lo restricted funds. Charitable activities 2021 2020 Unrestricted Restricted Total funds Total funds Grants to charities Independent examination Support costs 216,017 1,800 640 216,017 1,800 2,795 8,500 1,500 355 218.457 355 218.812 10.006 In 2020, total donations of £10,006 included £8,500 related lo restricted funds. All donations paid have been made to organisations related lo the charitable objects. Grants paid in the year 2021 Star Academies The Joshua Tree Inla¢k Primary School, Blackburn Bloomsbury Football Stanley Grange PPW Hospice The Honeypot The Fire Fighters RASA Samlesbury Area Civic Society 190,500 4,036 4,868 4,333 4,000 2,500 2,280 2,000 1,000 500 216.017 Creditors 2021 2020 Accruals 1.800 1.500 1,800 1,500
EG FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021 Restricted Funds Asat1 January 2021 Income Expenditure Asat31 December 2021 Start up costs Other collections 10.000 283 13551 9.645 283 10,283 13551 9,928 Prlor year Income Expendlture Asat31 December 2021 Start up costs Other collections 10.000 10.000 283 18,783 8.500 10.283 Analysis of Net Assets between funds Prior year Unrestricted funds Restricted funds 2020 Total Current assets Current liabilities 10,283 10,277 (1,5061 10,283 ,777 Related party transactions A donation of £280,22512021 £10,000) has been received from a company of which two of the Trustees are directors. No Trustee has received remuneration from the charity during the year. No Iruslee expenses have been claimed during the period.