**REGISTERED CHARITY NUMBER: 1187598**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **FOR**
## **THE DODGSON FOUNDATION**
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
**THE DODGSON FOUNDATION**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Cash Flow Statement**||6||
|**Notes to the Cash Flow Statement**||7||
|**Notes to the Financial Statements**|8|to|13|
**THE DODGSON FOUNDATION**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The terms of the CIO allow wide charitable objects. However, in order to operate within the resources available, the Trustees have a policy of considering applications which focus primarily on the diverse range of assistance required by the needy over 55s within the wider area of Brighton and Hove, plus working with any including financial support for agencies who provide services to those in need.
## **Public benefit**
In shaping our objectives and planning our activities for the year, the Trustees have given consideration to the duties set out in section 17(5) of the Charities Act 2011 to have due regard to public benefit. In particular, the Trustees have considered how the planned activities will contribute to the overall aims and objectives that they have set.
The Trustees believe that the following paragraphs, relate in detail the benefit that the charity provides to the public.
## **Grantmaking**
The Trustees who have served during the period and up to the date of this report are set out on page 2. The Trustees are responsible for the appointment of Trustees. The Trustees meet regularly. The day to day administration of the Foundation is the responsibility of the Chief Executive Officer, who has authority to approve applications up to £3,000 per annum with a maximum of £1,000 per application in accordance with a budget agreed by the Trustees. The Trustees monitor and receive reports of funds expended to test for accountability, efficiency and value for money. The Trustees are pleased to report that so many individuals directly and via agencies have been supported and that is increasing.
The Trustees continue their policy of partnership and assistance to other organisations involved in help/assistance. Regular networking meetings are held with our partners.
## **FINANCIAL REVIEW**
## **Financial position**
The assets of the charity now amount to £2,917,106 (2023: £2,830,934) which generated income of £122,792 (2023: £119,760) in the year to fund grants and related costs over the year totalling £142,342 (2023: £129,793).
The investment strategy is set by the Trustees, who may invest in such investments, property or securities as may bethought fit. The policy aim is that capital appreciation should exceed inflation and there is a balance of spread of risks in the investment strategy. This takes into account the need for income, the risk profile and the views of the Foundation's professional advisers. The Trustees do not feel that a professional valuation of property is required until, at the earliest, 2023. The Trustees having regard to all factors believe that the market value as stated in the accounts of 38C High Street, Wimbledon is not substantially inaccurate at 31 March 2024. A further property, 10 - 12 The Causeway, Teddington was purchased at the beginning of 2017.
## **Reserves policy**
The Trust aims to maintain reserves of at least £2,000,000 in order to generate sufficient income to meet annual fixed costs and a minimum level of grants and donations.
At 31 March 2024, the trust held free reserves of £1,545,328 (2023: £1,459,156).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes a CIO.
## **CEO**
G Wicks
Page 1
**THE DODGSON FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
The Trustees have reviewed any serious risks to which the Foundation is exposed and are confident that controls are in place to mitigate against those risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1187598
## **Principal address**
16 Park Avenue Hove East Sussex BN3 5RF
## **Trustees**
Mrs G Reed C Butler R Griffiths D Standing C Wellings (deceased 4/6/2023) R Overton-Hart (appointed 19/5/2023) Ms C Frazer (appointed 19/5/2023)
## **Independent Examiner**
Dr Shona F Wardrop C.A. Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Approved by order of the board of trustees on 31 October 2024 and signed on its behalf by:
Mrs G Reed - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DODGSON FOUNDATION**
## **Independent examiner's report to the trustees of The Dodgson Foundation**
I report to the charity trustees on my examination of the accounts of The Dodgson Foundation (the Trust) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **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 Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set 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 to be reached.
Dr Shona F Wardrop C.A. The Institute of Chartered Accountants of Scotland
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
31 October 2024
Page 3
**THE DODGSON FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Charitable Activities
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2024
Unrestricted
fund
£
89,482
33,310
122,792
142,342
105,722
86,172
2,830,934
2,917,106|2023
Total
funds
£
85,777
33,983
119,760
129,793
(225,823)
(235,856)
3,066,790
2,830,934|
|---|---|---|
The notes form part of these financial statements
Page 4
**THE DODGSON FOUNDATION**
## **BALANCE SHEET**
## **31 MARCH 2024**
|Notes
**FIXED ASSETS**
**Investments**
Investments
9
Investment property
10
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|2024
Unrestricted
fund
£
1,460,174
1,371,778
2,831,952
106,700
(21,546)
85,154
2,917,106
2,917,106
2,917,106
2,917,106|2023
Total
funds
£
1,365,450
1,371,778
2,737,228
115,051
(21,345)
93,706
2,830,934
2,830,934
2,830,934
2,830,934|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2024 and were signed on its behalf by:
G Reed - Trustee
The notes form part of these financial statements
Page 5
**THE DODGSON FOUNDATION**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Sale of fixed asset investments
Exchange movements
Interest received
Dividends received
Net cash provided by investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2024
£
(52,659)
(52,659)
(153,370)
270,090
(105,722)
178
33,132
44,308
(8,351)
115,051
106,700|2023
£
(43,917)
(43,917)
(229,244)
14,180
225,823
130
33,853
44,742
825
114,226
115,051|
|---|---|---|
The notes form part of these financial statements
Page 6
**THE DODGSON FOUNDATION**
**NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**OPERATING ACTIVITIES**|||
|---|---|---|
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
(Gain)/losses on investments
Interest received
Dividends received
Increase in creditors
**Net cash used in operations**|2024
£
86,172
(105,722)
(178)
(33,132)
201
(52,659)|2023
£
(235,856)
225,823
(130)
(33,853)
99|
|||(43,917)|
## **2.**
## **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1/4/23|Cash flow|At 31/3/24|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|115,051|(8,351)|106,700|
||115,051|(8,351)|106,700|
|**Total**|115,051|(8,351)|106,700|
The notes form part of these financial statements
Page 7
**THE DODGSON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
**THE DODGSON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**2.**
**OTHER TRADING ACTIVITIES**
Property rent
Ground rents
**3.**
**INVESTMENT INCOME**
Dividends
Deposit account interest
**4.**
**CHARITABLE ACTIVITIES COSTS**
Charitable Activities
**5.**
**GRANTS PAYABLE**
Charitable Activities|Direct
Costs
£
34,322|2024
£
88,047
1,435
89,482
2024
£
33,132
178
33,310
Grant
funding of
activities
(see note
5)
£
108,020
2024
£
108,020|2023
£
84,342
1,435
85,777
2023
£
33,853
130
33,983
Totals
£
142,342|2023
£
84,342
1,435|
|---|---|---|---|---|
|||||85,777|
|||||2023
£
33,853
130|
|||||33,983|
||||2023
£
95,477||
continued...
Page 9
**THE DODGSON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **5. GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:
|Freshstart
Fareshare
Impetus - Together Co
Spiral
City Mission
Hangleton Knoll Project
Somerset Day Centre
Off The Fence
Revitalise
Brighton Oasis Project
Martlets Hospice
Friends of Brighton & Hove Hospitals
St Lukes Advice Centre
Guildcare (Worthing)
Rise (Choir)
Friends First
One Church
Time To Talk
Probation
AGE UK Brighton
Kidz Klub
Food & Friendship
Old Boat Corner Community Association Ltd|2024
£
3,000
5,000
6,000
4,400
7,500
5,000
6,000
5,000
-
2,500
4,000
3,000
3,000
5,000
5,000
3,000
5,000
6,000
1,500
8,000
4,263
1,000
2,600
95,763|2023
£
3,000
5,000
4,000
2,400
7,500
2,100
4,000
5,000
3,440
2,500
4,000
2,000
3,000
5,000
3,000
2,980
3,500
4,000
1,000
5,000
4,974
1,000
-|
|---|---|---|
|||78,394|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **7. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries|2024
£
18,590
18,590|2023
£
18,522|
|||18,522|
The average monthly number of employees during the year was as follows:
|2024|2023|
|---|---|
|1|1|
No employees received emoluments in excess of £60,000.
continued...
Page 10
**THE DODGSON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**9.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Listed
investments
£
1,364,754
127,465
(164,368)
105,722
1,433,573
1,433,573
1,364,754|Cash and
settlements
pending
£
696
25,905
-
-
26,601
26,601
696||Unrestricted
fund
£
85,777
33,983
119,760
129,793
(225,823)
(235,856)
3,066,790
2,830,934
Totals
£
1,365,450
153,370
(164,368)
105,722
1,460,174
1,460,174
1,365,450|
|---|---|---|---|---|
||||||
||||||
||||||
There were no investment assets outside the UK.
continued...
Page 11
**THE DODGSON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **9. FIXED ASSET INVESTMENTS - continued**
Cost or valuation at 31 March 2024 is represented by:
|Listed
investments
£
Valuation in 2022
1,592,578
Valuation in 2023
(227,824)
Valuation in 2024
68,819
1,433,573
**10.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 April 2023
and 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**12.**
**MOVEMENT IN FUNDS**
At 1/4/23
£
**Unrestricted funds**
General fund
2,830,934
**TOTAL FUNDS**
2,830,934|Cash and
settlements
pending
£
9,454
(8,758)
25,905
26,601
2024
£
278
21,268
21,546
Net
movement
in funds
£
86,172
86,172|Totals
£
1,602,032
(236,582)
94,724
1,460,174
£
1,371,778
1,371,778
1,371,778
2023
£
235
21,110
21,345
At
31/3/24
£
2,917,106
2,917,106|
|---|---|---|
continued...
Page 12
**THE DODGSON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
122,792
122,792|Resources
expended
£
(142,342)
(142,342)|Gains and
Movement
losses
in funds
£
£
105,722
86,172
105,722
86,172|
|---|---|---|---|
## **Comparatives for movement in funds**
|At 1/4/22
£
**Unrestricted funds**
General fund
3,066,790
**TOTAL FUNDS**
3,066,790
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
119,760
(129,793)
**TOTAL FUNDS**
119,760
(129,793)||Net
movement
in funds
£
(235,856)
(235,856)
Gains and
losses
£
(225,823)
(225,823)|At
31/3/23
£
2,830,934
2,830,934
Movement
in funds
£
(235,856)
(235,856)|
|---|---|---|---|
|||||
|||||
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
Page 13