Approved By Trustees
**Charity Regn No. 1187767**
## **DEO DUCE FOUNDATION**
## **Trustees' Report**
## **and**
## **Unaudited Financial Statements**
**For The Year Ended**
**30th June 2023**
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## **DEO DUCE FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
## **Appointed Resigned**
Eddy Dempsey 05/02/2020 Edward McGillycuddy 05/02/2020 Bridget Outtrim 03/02/2021 Martin Reilly 03/02/2021 Benjamin Charles Knivet Fowler 05/02/2020 03/08/2022
## **Charity Registration No**
1187767
## **Registered Office**
Meadowbrook 65 Denham Lane Chalfont St Peter Gerrads Cross Bucks SL9 0EW
## **Independent Examiner**
Sean Davern FCCA Accounts Tax Group Ltd Suite 6 186 St Albans Watford WD24 4AS
## **Bankers**
CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
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## **DEO DUCE FOUNDATION**
## **CONTENTS**
|Trustees' Report|**4 to 7**|
|---|---|
|Independent Examiner's Report|**8**|
|Statement of Financial Activities|**9**|
|Balance Sheet|**10**|
|Notes to The Financial Statements|**11 to 15**|
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## **DEO DUCE FOUNDATION**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2023**
The trustees present their report together with the financial statements of the Deo Duce Foundation for the period to 30[th] June 2023. The trustees, who are Directors for the purposes of the Companies Act, confirm that the Annual Report and financial statements comply with the current statutory requirements, the requirements of its governing document and the provisions of the Statement of the Recommended Practice (SORP) 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 2015) as amended by Update Bulletin 1 (effective 1 January 2015).
Since the company qualifies as small under section 383 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 is not required.
## **Objectives and activities**
## a. Policies and objectives
The principal objects of the charity are to help young people in Harrow achieve their potential for the public benefit in the United Kingdom in such ways as the trustees see fit and in particular by:
- Providing grants to schools, social enterprise companies, other charities and youth organisations who provide educational and/or workplace preparation services for young people.
- Providing grants for the purchase of facilities and equipment which will enhance life opportunities for young people.
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the charity and in planning future activities. In particular, the trustees consider how planned activities will meet the aims and objectives established for the charity.
## b. Activities for achieving objectives
The trust has provided funding for a number of schools in Harrow, in particular Salvatorian College and Shaftesbury Special Needs schools either directly or through the provision of third-party services. It will support these and other schools in funding extra-curricular activities which will benefit the recipients in preparation for current or future educational and/or workplace opportunities.
## c. Grant making policy
The aims of the charity is to provide support for the young people of Harrow to maximise their current and future life opportunities. These aims are reviewed annually.
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## **DEO DUCE FOUNDATION**
## **TRUSTEES' REPORT .... (cont'd)**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **Achievements and performance**
a. Review of activities
During the period under review, the charity received donations totalling £63,804 and awarded grants totalling £37,035. After costs of £20,563 the charity had unrestricted funds of £67,318 and restricted funds of £15,200.
Grants were awarded directly to Shaftesbury High School in conjunuction with Harrow School for the development of a Sixth Form coffee shop - "Coffee on the Quad". The shop was formally openned in June 2023 with students being involved in its planning, marketing and financial implications. The aim is that this is a sustainable enterprise, managed by current and future year sixth formers, giving them valuable “real life” workplace preparation skills.
The final tranches of the 2022 award were paid to iGNITE, a Harrow based charity, for the provision of a workshop programme in two Harrow schools. This included modules on how to spot and manage racism, gang involvement and other social concerns as well as engendering ambition and a positive outlook.
The charity again funded a workplace preparation programme at Salvatorian College, managed by social enterprise company, Business Education Events. In this, students had to apply for a fictitious job role, undertake research on the prospective employer, construct a CV and covering letter application and prepare for a job interview. In groups of five, students were interviewed by a business volunteer, with one awarded the “job”. Feedback was excellent, giving over 100 students their first taste of how to prepare and apply for a job, with constructive support from over 30 volunteers.
The charity is especially pleased to have developed its collaboration with Young Harrow Foundation, providing £22,500 towards the £200,000 Harrow Change Makers Partnership fund; other partners include the John Lyon Charity, Harrow Council, Orley Farm School, and Harrow School as well as two private donors. After the financial year end, the HCMP panel agreed grants to 21 organisations for programmes which should support and impact over 2,000 young people in Harrow. It is hoped this will be the first of a three year partnership programme.
Grant awards agreed in the year, but to be paid out post year end, were made to:
**Maths Makers** for a summer intervention / support programme for students of Rooks Heath school to enhance their understanding of Maths in preparation for the new school year;
**Sweet Science,** which uses boxing discipline as a “Trojan Horse” to help young people with life lessons along with social and moral guidelines, to take the programme into schools across Harrow at no cost to the participants. The programme encourages confidence building, includes discussion on local and national issues such as gang culture and knife crime to body language and manners right through to healthy living and nutrition.
**The Josh Hanson Trust** to deliver its programme raising awareness of the dangers and wider family and social consequences of knife crime into any school in Harrow.
Post year end, the charity hosted its third fund-raising golf day, supported by 15 sponsors at Stanmore Golf Club. 77 golfers and 105 diners helped raise over £30,000. The charity thanks all those who have made this annual event such a success, including sponsors, participants and hosts – Stanmore Golf Club. It is especially grateful for the support of Glencar Construction which has been the Platinum sponsor for the past two years.
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## **DEO DUCE FOUNDATION**
## **TRUSTEES' REPORT .... (cont'd)**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **Financial review**
## a. Going concern
Having considered post year-end financial results and cash reserves and making appropriate enquiries, the trustees consider the charity has adequate resources to continue to operate for the foreseeable future being a period of not less than 12 months from the date the financial statements were approved. For this reason, they have adopted the going concern basis in preparing the financial statements.
## b. Reserves policy
During the year, the charity invested surplus liquid funds into an interest-earning savings account. There were no other investments. As at 30th June 2023, the charity had unrestricted total funds of £67,318 which are considered free reserves. At that time, the charity had agreed funding applications totalling £14,560. The trustees do not consider there is an optimal level of free reserves given it has limited day to day operational costs.
## **Structure, governance and management**
## a. Constitution
The Company was established as a Charitable Incorporated Organisation (“CIO”) and registered as a charity on the 5th February 2020 with charities commission number 1187767.
## b. Method of appointment or election of Trustees
The management of the charity is the responsibility of the trustees who are elected or coopted under the terms of the Articles of Association
## c. Risk Management
The trustees have assessed the major risks to which the CIO is exposed, in particular those in relation to operations and finances and are satisfied that systems and processes are in place to mitigate exposure to major risks.
## **Trustees responsibilities statement**
The trustees, who are directors of the Deo Duce Foundation, a Charitable Incorporated Organisation for the purposes of Company Law, are responsible for preparing the Trustees Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and the application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently
- observe the methods and principles in the Charities SORP
- make judgements and accounting estimates that are reasonable and prudent
- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charitable company will continue in operation.
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## **DEO DUCE FOUNDATION**
## **TRUSTEES' REPORT .... (cont'd)**
## **FOR THE YEAR ENDED 30 JUNE 2023**
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
**Eddy Dempsey** Trustee 5th April 2024
**Martin Reilly Bridget Outtrim** Trustee Trustee
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## **DEO DUCE FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DEO DUCE FOUNDATION**
We report to the charity trustees on our examination of the accounts of the Deo Duce Foundation for the year ended 30 June 2023.
## **Responsibilities and Basis of Report**
As the charity trustees of the Deo Duce Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
We report in respect of our examination of the Deo Duce Foundation accounts carried out under section 145 of the Act and in carrying out our examination we have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
We have completed our examination.
We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
1) Accounting records were not kept in respect of the foundation 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.
We 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.
## _Sean Davern_
## _6th April 2024_
Sean Davern FCCA (0636511)
Accounts Tax Group Chartered Certified Accountants
Suite 6 186 St. Albans Road Watford
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WD24 4AS
## **DEO DUCE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 30 JUNE 2023**
|**Notes**
**Income**
Donations & legacies
**3**
**£3,244**
Charitable activities
**4**
**£60,560**
Investments
**5**
**£1,026**
**£64,830**
**Expenditure on:**
Raising funds
**4**
**£19,260**
Charitable activities
**6**
**£37,035**
Other
**7**
**£1,302**
**£57,597**
Net income for the year / period
**£7,233**
Balance at 1st July 2022
**£75,285**
Balance at 30th June 2023
**£82,518**|**2022**
**£4,128**
**£44,139**
**£57**|
|---|---|
||**£48,324**|
||**£10,915**
**£30,716**
**£1,407**|
||**£43,038**|
|||
||**£5,286**
**£69,999**|
||**£75,285**|
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure is derive from continuing activities.
The notes on pages 10 to 13 form part of these financial statements
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## **DEO DUCE FOUNDATION**
## **BALANCE SHEET**
## **AS AT 30 JUNE 2023**
|**Notes**
**Current Assets**
Cash at bank and in hand
**£83,358**
**Less: Creditors: amounts falling**
**11**
**£840**
**due within one year**
Net Current Assets
**£82,518**
Total Assets Less Current Liabilities
**£82,518**
**Net assets**
**£82,518**
**Represented by:**
**Funds**
Restricted funds
**13**
**£15,200**
Unrestricted funds
**13**
**£67,318**
**Total Funds**
**£82,518**
|**2022**|
|---|---|
||**£76,185**
**£900**|
||**£75,285**|
||**£75,285**|
||**£75,285**|
||**£3,785**
**£71,500**|
||**£75,285**|
|||
The financial statements were approved by the Trustees on **5th** April 2024
Eddy Dempsey Martin Reilly Bridget Outtrim **Trustee� Trustee Trustee�**
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## **DEO DUCE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 30 JUNE 2023**
## **1 Accounting policies**
## **1.1** Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, theh 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 (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102 .
The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations, but whuich has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the forseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Any designated funds represent amounts of unpaid match funding where the outcome of events is known but payment had not been made at 30 June.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met.
Cash donations are recognised on receipt.
Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and the receipt is expected. If the amount is not
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known, the legacy is treated as a contingent asset.
## **DEO DUCE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE 30 JUNE 2023**
## _**…... 1 Accounting policies (Continued)**_
## **1.5 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 settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accuruals basis.
All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **2 Critical accounting estimates and judgments.**
In the application of the charities accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent form other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assuimptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
|**3**
**Donations and legacies**
Donations
Gift Aid refunds|**£2,600**
**£644**
**£3,244**|**Total**
**2022**|
|---|---|---|
|||**£3,423**
**£705**|
||**£3,244**|**£4,128**|
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## **DEO DUCE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE 30 JUNE 2023**
|**4**
**Charitable activities**
Golf day revenue
Race night income (Old Salvos FC)
Minus: Golf day costs (fund raising)
**5**
**Investment income**
Bank interest
**6**
**Charitable activities**
**Grants paid out to:**
Shaftesbury High School
Salvatorian College
iGNITE Trust
Young Harrow Foundation
**7**
**Other expenditure**
Advertsing and marketing
Website
Bank charges
Independent examiner's fees|**£60,560**
**£0**|**Governance**
**Costs**|**Total**
**2022**|
|---|---|---|---|
|||||
||||**Total**
**2022**|
||||**£43,280**
**£859**|
||**£60,560**
**-(£19,260)**||**£44,139**
**-(£10,915)**|
||**£41,300**||**£33,224**|
||**£1,026**||**£57**|
||**£1,026**||**£57**|
||**£10,000**
**£1,750**
**£2,785**
**£22,500**||**£0**
**£19,324**
**£1,392**
**£10,000**|
||**£37,035**||**£30,716**|
||**Support**
**Costs**||**TOTAL**|
||**2022**|**2022**|**2022**|
||**£0**
**£303**
**£204**
**£0**|**£0**
**£0**
**£0**
**£900**
**£900**|**£0**
**£303**
**£204**
**£900**|
||**£507**||**£1,407**|
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## **DEO DUCE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE 30 JUNE 2023**
|Advertsing and marketing
Website
Bank charges
Independent examiner's fees|**Support**
**Costs**|**Governance**
**Costs**|**TOTAL**|
|---|---|---|---|
||**2023**|**2023**|**2023**|
||£0
£278
£184
£0|£0
£0
£0
£840|**£0**
**£278**
**£184**
**£840**|
||**£462**|**£840**|**£1,302**|
## **8 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
|**Employees**
Total number of employees||Total
2022|
|---|---|---|
||||
||**0**|**0**|
## **9 Employees**
## **10 Debtors**
## **Amounts falling due within one year:**
|Other debtors
**Creditors: amounts falling due within one year**
Accruals – Independent examiner's fee|**£0**|**£0**|
|---|---|---|
||||
||**£840**|**£900**|
## **11 Creditors: amounts falling due within one year**
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## **DEO DUCE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
|**FOR THE 30 JUNE 2023**|**FOR THE 30 JUNE 2023**|||||||
|---|---|---|---|---|---|---|---|
|||||||Total||
|||||||2022||
|**12**|**Related party transactions**|||||||
||During the year the charity had related party transactions as follows:|||||||
||**Donations received by the charity from:**|||||||
||* Edward Dempsey (Trustee)|||**£0**||**£500**||
||* Diomasaigh Services Ltd|||**£0**||**£150**||
||(Edward Dempsey was a director)|||||||
||**Sponsorship of golf day by:**|||||||
||* Glencar Construction Ltd|||**£5,000**||**£1,000**||
||(Edward McGillycuddy (Trustee) is a director)|||||||
||* Reillyconsult Ltd|||**£1,000**||**£1,000**||
||(Martin Reilly [Trustee] is a director)|||||||
||**Winning bid for golf day auction prizes from:**|||||||
||* Reillyconsult Ltd|||**£5,250**||**£4,000**||
||(Martin Reilly [Trustee] is a director)|||||||
||* Glencar Construction Ltd|||**£7,500**||**£0**||
||(Edward McGillycuddy (Trustee) is a director)|||||||
|||||**£18,750**||**£6,650**||
||**Items provided for fundraising auction lots:**|||||||
||Two of the Trustees, including a company associated with|||one of them, provided items, at no||||
||cost, for auction lots which raised a total of £11,100. The||Trustees derived no personal|||||
||benefit from doing so.|||||||
||**Expenses reimbursed**|||||||
||* Edward Dempsey (Trustee)|||**£532**||**£1,047**||
|**13**|**Analysis of net assets between funds**|||||||
|||**Unrestricted**||**Restricted**||**Total**||
||Balances at 30th June 2023 are represented by:|||||||
||**Current assets**|**£68,158**||**£15,200**||**£83,358**||
||**Creditors**|**-(£840)**||**£0**||**-(£840)**||
|||**£67,318**||**£15,200**||**£82,518**||
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