THE STEPHEN LAWRENCE DAY FOUNDATION
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
Charity No. 1187566
Company No. CE020442
THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| Company registration number: | CE020442 |
|---|---|
| Charity registration number: | 1187566 |
| Trustees: | Baroness Doreen Lawrence OBE |
| Raymond Lyttle (Appointed 18th May 2022) | |
| Adrian Sykes | |
| Dr Clive Julian Driscoll | |
| Professor David Mba | |
| Georgina Lawrence | |
| Independent examiner: | Underwood Green |
| Pinnacle House | |
| 1 Pinnacle Way | |
| Derby | |
| DE24 8ZS | |
| Registered address | 124 City Road |
| London | |
| EC1V 2NX | |
| Bankers: | Barclays |
THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| PAGE | |
|---|---|
| Report of the trustees | 1 - 3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
The Trustees present their report and financial statements of the charity for the year ended 31 July 2022. The financial statements comply with current statutory requirements and the requirements of the Charity’s governing document.
Structure and Governance
The Stephen Lawrence Day Foundation is an incorporated charity, limited by guarantee, and has no share capital. The Charity was registered on 24 January 2020.
The trustees during the period and at 31 July 2022 were as follows: Baroness Doreen Lawrence OBE Raymond Lyttle (Appointed 18th May 2022) Adrian Sykes Dr Clive Julian Driscoll Professor David Mba Georgina Lawrence Alexander Ashby (Resigned 26th January 2022) Catherine Laffar (Resigned 16th November 2021)
Trustees will be recruited as and when required by the continuing trustees by way of personal invitation.
The trustees are mindful of their duties in connection with the induction and training of new trustees and would follow the guidelines set down by the Charity Commission. New trustees would be referred to the Charity Commission’s website. They would be given copies of previous period’s accounts prior to their attendance at a trustees’ meeting and the founders would provide a background briefing and be available to answer any questions.
The trustees have full and unrestricted powers of investment as if they were absolute owners beneficially entitled to the assets.
Objectives
The trustees shall hold the capital and income of the trust fund upon trust and make donations as such charitable institution at such time or times and in such manner as to achieve the charity objectives.
The charitable objects are the promotion of (i) equality and diversity (ii) racial harmony and (iii) social inclusion in each case for the public benefit, by the following means: (a) celebrating on an annual basis the memory and legacy of Stephen Lawrence and promoting a theme for each Stephen Lawrence Day amongst those in education and others; (b) using the memory and legacy of Stephen Lawrence and other means to advance education and raise awareness in equality and diversity and about different racial groups so as to promote good relations between persons of different racial groups and about social exclusion so at to lead to better outcomes for those in, or at risk, of social exclusion; (c) the elimination of discrimination on the grounds of race, gender, disability, sexual orientation or religion; (d) promoting activities, in particular, but not exclusively associated with the Stephen Lawrence Day, to foster understanding between people from diverse backgrounds; (e) conducting or commissioning research on equality and diversity issues and publishing the results to the public; (f) cultivating a sentiment in favour of equality and diversity; (g) promoting knowledge and mutual understanding between different racial groups; (h) preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.
The trustees confirm that they have referred to 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 setting the grant making policy for the period.
Achievements and performance
During the year The Stephen Lawrence Day Foundation committed £1,978 in micro-grants to various charitable activities for the public good (2021: £4,500).
All donations made by the Foundation are pre-approved by the Trustees.
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 JULY 2022
Financial review and future activities
Income in the year amounted to £164,492 which comprised donations received, grants and merchandise sales
At 31 July 2022 the net assets of the Charity were £226,952.
Donations committed in the year totalled £1,978 and comprised micro-grants to institutions. The donations were to causes that the trustees felt were worthy of supporting and which fulfilled the objectives of the Charity.
The Trustees are currently seeking opportunities to make further donations in line with their objectives.
Taxation
The Stephen Lawrence Day Foundation is a registered charity and as such is exempt from taxation on its income and gains to the extent that they are applied to its charitable purposes.
Reserves policy
The trustees are committed to donating the net income of the Charity over the medium term. The charity maintains sufficient reserves to continue to trade in furtherance of its charitable objectives.
At 31 July 2022 there were unrestricted reserves of £209,709.
Risk assessment
The trustees have carried out an overall risk assessment to identify the risks associated with the operations of the Charity and, where appropriate, have introduced controls and safeguards to minimise the effects of those risks.
Funding
The trustees are satisfied that the Charity’s assets are available and adequate to fulfil its obligations.
Statement of trustees’ responsibilities
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which given a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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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;
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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 the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) 2008.
The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 JULY 2022
On behalf of the Trustees
Raymond Lyttle (May 25, 2023 18:35 GMT+1) …………………………………… Raymond Lyttle (Treasurer)
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) FOR THE YEAR ENDED 31 JULY 2022
Respective responsibilities of trustees and examiner
The Charity's Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the 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
Your attention is drawn to the fact that the Charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
G Underwood
G Underwood (May 24, 2023 16:15 GMT+1)
……………………………..
Gary Underwood FCA
Chartered Accountant
Underwood Green Pinnacle House 1 Pinnacle Way Derby DE24 8ZS
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| Note Restricted Unrestricted £ £ Incoming resources from Voluntary income Donations 26,381 131,262 Merchandise sales - 6,849 __ _ Total incoming resources26,381 138,111 _ __ Resources expended Charitable activities 3 - 50,415 Governance costs 5 9,138 85,059 _ _ Total resources expended 9,138 135,474 __ _ Net incoming/(outgoing) resources before transfer 17,243 2,637 Gross transfers between funds - - _ __ Net incoming/(outgoing) resources before other recognised gains and losses 17,243 2,637 Other recognised gains/losses - - _ _ Net movement in funds and total funds carried forward at 31 July 2022 17,243 2,637 |
2022 2021 £ £ 157,643 288,726 6,849 - __ _ 164,492 288,726 _ __ 50,415 68,046 94,197 46,981 _ _ 144,612 115,027 __ _ 19,880 173,699 - - _ __ 19,880 173,699 - - _ _ 19,880 173,699 |
|---|---|
The activities of the charity are classified as continuing.
The accompanying notes form an integral part of these financial statements
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) BALANCE SHEET AT 31 JULY 2022
| Note Fixed assets Website 8 Computer equipment 9 Current assets Trade debtors Prepayments Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Net assets Unrestricted funds 11 Restricted funds 11 |
2022 £ 7,946 1,767 __ 9,713 _ 2,596 2,263 222,364 (9,984) _ 217,239 __ 226,952 _ 209,709 17,243 _ 226,952 |
2021 £ 8,862 516 __ 9,378 _ - - 198,702 (1,008) _ 197,694 __ 207,072 _ 207,072 - _ 207,072 |
|---|---|---|
The financial statements were approved by the trustees and were signed by:
Raymond Lyttle (May 25, 2023 18:35 GMT+1) ……………………………………. Raymond Lyttle (treasurer)
The accompanying notes form an integral part of these financial statements
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
1. Charity status
The charitable company is limited by guarantee and does not have share capital.
In accordance with Section 60 of the Companies Act 2006, the Foundation is exempt from the requirements of that Act to include “Limited” as part of its name.
The Charity is exempt from taxation on the income under the Corporation Taxes Act 2010 on its charitable activities.
2. Accounting policies
Basis of preparation
The financial statements, incorporating the Statement of Financial Activities (SOFA) have been prepared in accordance with applicable accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – SORP FRS 102 (effective 1 January 2019). The financial statements have been prepared under the historical cost convention.
The accounts 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 applying SORP FRS 102 (effective 1 January 2019) rather than the version of the Statement of Recommended Practice referred to in the regulation but which has since been withdrawn.
The Charity constitutes a public benefit entity as defined be FRS 102.
The accounting policies of the charity are set out below.
Incoming resources
Donations and gifts
All monetary donations are included in the financial statements when receivable, provided there are not donor imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre-condition has been met.
Resources expended
Expenditure on grants is recorded once the Charity has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever is the earlier.
Other charitable expenditure and governance costs are included in the accounts on an accruals basis.
Fund accounting
Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.
Restricted funds contain donations and other incoming resources which are restricted for use under a particular purpose as instructed by the donor(s).
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| 3. Charities activities Restricted Unrestricted £ £ Donations made (see note 4) - 1,978 Fund raising costs incurred - 48,437 __ _ - 50,415 _ __ 4. Charities activities Restricted Unrestricted £ £ Made to institutions - 1,678 Made to individuals - 300 _ _ - 1,978 __ _ 5. Governance costs Restricted Unrestricted £ £ Salaries 55,838 Employers NI 5,799 Pension costs 707 Staff training 7,199 Computer and software expenses 4,485 Insurance 1,572 Printing, stationery and office costs 2,636 Accountancy and bookkeeping - Legal and professional fees 9,138 4,770 Travel & entertainment 325 Sundry 455 Bank charges 8 Amortisation 916 Depreciation 349 ___ ______ 9,138 85,059 |
2022 £ 1,978 48,437 __ 50,415 _ 2022 £ 1,678 300 ___ 1,978 __ 2022 £ 55,838 5,799 707 7,199 4,485 1,572 2,636 - 13,908 325 455 8 916 349 ____ 94,197 |
2021 £ 4,500 63,546 __ 68,046 _ 2021 £ 4,500 - ___ 4,500 __ 2021 £ 11,064 1,035 - - 8,451 1,571 1,036 1,350 20,836 - 61 334 985 258 ____ 46,981 |
|---|---|---|
6. Payments to trustees and related party transactions
No trustees, or person with a family or business connection with a trustee, received remuneration in the year, directly or indirectly from the charity.
Expenses of £Nil (2021: £1,017) were reimbursed to the Trustees during the year.
7. Employees
The average number of employees during the year was 2 (2021: 1).
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
8. Intangible Fixed Assets
| COST At 1 August 2021 Additions At 31 July 2022 AMORTISATION At 1 August 2021 Additions At 31 July 2022 NET BOOK VALUE At 31 July 2022 At 31 July 2021 9. Tangible Fixed Assets COST At 1 August 2021 Additions At 31 July 2022 DEPRECIATION At 1 August 2021 Additions At 31 July 2022 NET BOOK VALUE At 31 July 2022 At 31 July 2021 10. Creditors: amounts falling due within one year Trade creditors Accruals |
Website £ 9,847 - __ 9,847 _ 985 916 _ 1,901 __ 7,946 _ 8,862 _ Computer equipment £ 774 1,600 __ 2,374 _ 258 349 _ 607 __ 1,767 _ 516 _ 2022 2021 £ £ 9,984 - - 1,008 |
|---|---|
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THE STEPHEN LAWRENCE DAY FOUNDATION (Registered number: CE020442) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| 11. | Movement in funds | ||||||
|---|---|---|---|---|---|---|---|
| At 1 August | Income | Expenditure | At 31 July | ||||
| 2021 | 2022 | ||||||
| £ | £ | £ | £ | ||||
| Unrestricted funds | 207,072 | 138,111 | 135,474 | 209,709 | |||
| Restricted funds | - | 26,381 | 9,138 | 17,243 | |||
| ______ | ______ | ______ | ______ | ||||
| Total Funds | 207,072 ______ |
164,492 ______ |
144,612 ______ |
226,952 ______ |
|||
| At 1 August | Income | Expenditure | At 31 July | ||||
| 2020 | 2021 | ||||||
| £ | £ | £ | £ | ||||
| Unrestricted funds | 33,373 | 213,726 | 40,027 | 207,072 | |||
| Restricted funds | - | 75,000 | 75,000 | - | |||
| ______ | ______ | ______ | ______ | ||||
| Total Funds | - ______ |
35,155 ______ |
1,782 ______ |
207,072 ______ |
|||
| 12. | Analysis of net assets by fund | ||||||
| Restricted | Unrestricted | 2022 | 2021 | ||||
| £ | £ | £ | £ | ||||
| Fixed assets | - | 9,713 | 9,713 | 9,378 | |||
| Current assets | 17,243 | 209,980 | 227,223 | 198,702 | |||
| Current liabilities | - | (9,984) | (9,984) | (1,008) | |||
| ______ | ______ | ______ | ______ | ||||
| 17,243 ______ |
209,709 ______ |
226,952 ______ |
207,072 ______ |
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