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THE COLLÈGE DE FRANCE BRITISH FOUNDATION
a Charitable Incorporated Organisation (CIO)
- Charity Registration Number 1186041
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[TH] DECEMBER 2020
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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| Contents | Page |
|---|---|
| Trustee’s Annual Report | 3 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the accounts | 8 |
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report and accounts of the charity for the period ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the charity’s constitution, 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 Standard applicable in the UK and Republic of Ireland (FRS102)’.
Trustees
Ms Hortense de Mitry
Ms Emmanuelle Dotezac
Mr Nicolas Paulmier
Mr Laurent Haziza
Professor Serge Haroche
The above named individuals served as trustees from the inception of the charitable incorporated organisation.
Charity Registration Number: 1186041
Charity Office : 4 Pembroke Villas London London W8 6PG
Bankers : NatWest, 250 Bishopsgate, London, EC2M 4AA
Purpose and activities
The objects of the charity are specifically restricted to such purposes which are exclusively charitable in the laws of England and Wales.
The charitable object of the charity is:
The advancement of education and the promotion of research for the public benefit by raising funds to support, develop and promote advanced research and training for researchers by Collège de France, facilitate the sharing of knowledge, develop research programs for Collège de France professors, fund doctoral and post-doctoral students and the acquisition of scientific equipment and support innovative projects for the transmission of knowledge to as wide an audience as practicable.
The charitable incorporated organisation came into being on 31 October 2019 to take on this work.
Statement on public benefit
The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. The objects and other information set out in this report demonstrate this in more detail.
Charitable Incorporated Organisation (CIO) – structure, governance and management
The charity is governed by its CIO Constitution and was registered with the Charity Commission for England and Wales on 31st October 2019.
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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The first charity trustees were appointed by its constitution. The subsequent trustees are appointed by the charity trustees subject to a minimum number of 2 with no maximum.
Policies and procedures adopted for the induction and training of trustees
The charity recognises that it has a responsibility to provide guidance and assist new trustees in fulfilling their duties and responsibilities, this is done in accordance with Charity Commission guidance. New trustees are given appropriate Charity Commission publications, as well as a copy of the constitution and any amendments to it and in future the latest copy of its report and accounts.
Activity
Since March 2020, the COVID 19 Pandemic has severely impacted the ability of the charity to further its objectives.
After an arduous process the trustees have opened a bank account with NatWest. The trustees are now in the process of registering for Gift Aid with HMRC.
Finances
There were no financial transactions involving the charity in the reporting period except from one gift form a donor.
Reserves
As at 31 December 2020 the charity had no reserves.
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations and United Kingdom Accounting Standards, including Financial Reporting Standard102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The 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 state of affairs of the charity and of the income and expenditure of the charity for the period.
In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the CIO’s constitution.
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 irregularities.
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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Approval
Approved and signed by:
____ Hortense de Mitry, Trustee 4th February 2022
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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STATEMENT OF FINANCIAL ACTIVITIES (SOFA) FOR THE PERIOD ENDED 31 DECEMBER 2020
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Total Total
Unrestricted Unrestricted
Funds Funds
31 Dec 2020 31 Dec 2019
£ £
Income
-
Donations and legacies -
Total Income -
Expenditure
Total Expenditure _
Net (expenditure)/income
Transfers between funds _ -
Net Movement in Funds -
Reconciliation of Funds
Total funds brought forward _ -
Total funds carried forward -
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There were no recognised gains or losses for 2019 or 2020.
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2021
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2021 2020
31 December 31 December
£ £
Fixed Assets
Current Assets
Cash at bank hand in hand - -
- _
Liabilities : amount falling due within one year _ -
Net current assets - -
Net assets - -
Funds of the charity
Unrestricted funds - -
Total funds - -
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The notes on pages 8 to 9 form part of these accounts.
Approved and signed by:
________ Hortense de Mitry 4th February 2022 Trustee
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020
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NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
General Information / Legal status
The Collège de France British Foundation is a Charitable Incorporated Organisation (CIO). The trustees of the CIO are detailed in the Trustee’s Annual Report.
The registered address is given on the first page of these financial statements.
The Foundation’s principal activity is the collection of donations within the UK for the Collège de France in France.
Accounting policies
Accounting convention and standards
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019nm) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Collège de France British Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Income
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Pledges received are not treated as income until they are honoured or the pledge becomes an irrevocable commitment to the CIO.
Investment gains and losses
This includes any realised gains or losses on the sale of investments and any gain or loss resulting from the revaluation of investments to market value at the balance sheet date. There were no gains or losses for the reporting period.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes the costs incurred in directly undertaking the activities which further the charity’s objectives, as well as any associated support costs. There was no expenditure in the reporting period.
Taxation
The Trust, being a charity, is not liable for income tax or corporation tax. Value Added Tax is not recoverable and is included in the relevant charges for administration expenses.
Fund accounting
Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Cash at bank and in hand
Cast at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar bond.
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Going Concern
There are no material uncertainties about the charity’s ability to continue as a going concern.
Trustee’s remuneration and expenses and related party transactions
Trustees received no emoluments or expense reimbursements in the period. There were no transactions with related parties.
Control
The charity is controlled by its trustees.
The Collège de France British Foundation - Trustee Annual Report and Accounts 2020