Charity number= 11882 57 The Charles Russell Speechlys Foundation Unaudited report and financial statements For the year ended 30 April 2023 SA YER VINCENT
The Charles Russell Speechlvs Foundatlon Contents For the year ended 30 Aprll 2023 Reference and administrative information Trustees, annual report Independent examiner's report Statement of financial activities (incorporating an income and expenditure account) Balance sheet Notes to the financial statements
The Charles Russell Speechtys Foundatlon Reference and admlnlstratlve Inforniarlon For the year ended 30 Aprll 2023 Charlty number Country of reglstratlon 1188257 England & Wales Reglstered offlce and operatlonal address 5 Fleet Place London EC4M 7RD Twstees Trustees who served during the year and up to the date of thi5 report were a5 follows- Laris5a Joy Elaine Driscoll Rupa Lakha Katy Crothall Christopher Page Bartholomew Peerless Andrew Cameron Rose Carey Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling MEI 9 4TA Independent Examlner Judith Miller Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane LONDON ECIY OTL
The Charles Russell Speechlys Foundatlon Trustees, annual report For the year ended 30 Aprll 2023 The trustees present their unaudited report and the audlted financial statements for the year ended 30 April 2023. Reference and administrative information set out on page I forms part of this report. The financial statements comply with current statutory requlrements. the charitrfs trust deed and ihe Statement of Recommended Practice - Accounting and Reporting by Charities.. SORP applicable to charities preparing their accounts in accordance wlth FRS 102. Objectives and activities Purposes and aims The objects of the Charity are the advancement of such charitable objects under the law of England and Wales as the trustees see fit. The Charity has furthered it5 charitable objects during the year by making grants to a number of other registered charities in accordance with its grant- making policy. To provide focus and a strategic approach to achieving its charitable objects, the trustees make grants in several ways.. The charitable objects that are to be furthered under this tier can be grouped under the general heading of Justice. More Significant projects and partnerships are identified by Truscees across a range of theme5 including promoting the sound administration of justice. improving educational opportunitie5 for the disadvantaged. promoting human rights. promoting social inclusion. Trustees also make smaller grants to support a range of charitable organisations (exclusively UK registered charities) across the width of communiry need. To facilitate these the Charity has made granrs to the Gloucestershire Community Foundation and the Community Foundation for Surrey. These Community Foundations liaise with committees established by the trustees and made up of individuals who are partners or employees in the Cheltenham office or the Guildford office of Charles Russell Speechlys LLP. a5 the case may be. The trustees have referred to the guidance contained in the Charity Commis5ion'5 general guidance on public benefit when reviewing the Charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objective5 that have been set. Achievements and performance The Trustees made grarbts totalling £284,5 21 durlng the year In furtherance of the Charity's charitable objects. Details are set out in note 4 to the accounts. During the financial year, the Charity has continued its relationships with Khulisa, SafeLives. Z2K, Emmaus and Home-start UK. In each case Trustees have paired with each other to lead the relationship with the grantee charities and to identify how grants are being spent and
The Charles Russell Speechlys Foundatlon Tiustee5' annual report For the year ended 30 Aprll 2023 opportunities for further cash and in-kind support, prlncipally from the staff and partners of Charles Russell Speechlys LLP. The Charity has also continued its relationships with the Gloucestershire Community Foundation and the Community Foundation for Surrey. The Foundation also made grants totalling £20,000 to the Disasrers Emergency Committee for appeals for the floods in Pakistan and the earthquake in Syria. During the financial year, the Trustees also made grants to several new organisations, Plymouth Citizen's Advice Service. the City Solicitors Education Trust and rhe Greater Manchester Immlgration Aid Vnit. Financial review The Charity held unrestricted funds of £324,634 at the end of the financial year. The primary funding source for the Charity is donations from Charles Ru55ell Speechlys LLP. The Charlty also recelves fund5 from fundraising undertaken by Staff of charles Russell Speechlys LLP. The trustees are consldering the development of other funding sources for the future. Principal risks and uncertainties The trustees keep under review the major operational and strategic risks the Charity faces and are satlsfied that systems have been established to mlnimise the p055ible effects of such risks on the Charity. Reserves policy and going concern The trustees intend to keep sufficient liquid fund5 in reserve to enable the Charity to meet it5 ongolng grant commitment5 2nd to respond quickly to any applications for grant5 that they consider It to be appropriate to support, a5 well a5 to meet ongoing expenses connected with the administration of the Charity. Because no commitments are entered into which are not fully covered by known incoming resources the trustees do not target a particular level of reserve. Plans for the future The Charity intends to continue to make grants in the manner described above in furtherance of its charitable purp05e5. Structure, governance and management The Charity is a charitable incorporated organisation ICIOI registered as a charity on 28 February 2020 in England and Wales.
The Charles Russell Speechtys Foundatlon Trustees, annual report For the year ended 30 Aprll 2023 The Charity is governed by a Constitution dated 28 February 2020. The Constitution provldes that there shall be lal not less than two and not more than five trustees appointed by the trustees and Ibl not less than two and not more ihan five trustees nominated bv Charles Russell Speechlys LLP, one of whom shall be the senior partner for the time being of Charles Russell Speechlys LLP. When a new trustee is appointed, they are provided with a copy of the key documents and an introduction to the work of the Charity. They are provided with the information they need to fulfil their role as a trustee. Apart from the firsr trustees, whose terms of office are set out in the Constitution, trustees are appointed for a term of three years. The only exception is the senior parrner of Charles Russell Speechlys LLP, who will hold office as a trustee until they cease to be senior partner. The trustees are responsible for the overall management of the Charity. holding trustees, meetings on at least a quarterly basis. The Charity's Constitution allow5 the trustees to meet and conduct meetings virtually, which the trustee5 have done this year in line with Government restrictions and recommendations. All trustees give their time voluntarily and receive no benefits from the Charity. Statement of responsibilities of the trustees Law appllcable to charitles in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view. the trustees should follow best Pfactice and.. Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent Srate whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements 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 proper accounting records that disclose with reasonable accuracy at any time the financial posltion of the charity and enable rhem to ensure that the
The Charles Russell Speechtys Foundatlon Trustees. annual report For the year ended 30 Aprll 2023 financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Legislation In the United Kingdorn governing the preparation and di55eminatlon of financlal statements may differ from legislation in other jurisdictions. The trustees, arbnual report has been approved by the trustees on 7th November 2023and signed on their behalf by Christopher Pa9e Chairman
Independont examlner's report To the mernber5 of The Charles Russell Speechtys Foundatlon I report to the trustees on my examination of the accounts of The Charles Ru55ell Speechly5 Foundatlon for the year ended 30 Aprll 2023. This report is made solely to the trustees as a body, accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters l am required to state to them In an Independent examlner's report and for no other PLtrpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitv and the trustees as a body. for my examlnation, for this report. or for the opinions I have formed. Responsibilities and basis of report As the charity trustees of the charity 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 14 5 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451511bl of the 201 l Act. Independent examiner's Statement Since the charity's gross income exceeded £2 50,000 your examlner must be a member of a body listed in section 145 of the 2011 Acr. I confirm thar l am qualified to undertake the examination because l am a member of the Instirute of Chartered Accounts in England and Wales, which is one of the listed bodies. I have complered my examination. I confirm that no material matters have come to my attention in connection with the exarnination giving me cause to believe that in any material respect.. Accounting records were noc kepc in respect of the chartty as requlred by section 130 of the Act., or The accounts do not accord with those records.. or The accounrs do not comply with the applicable requirements concerning the form and content of accounts set out in the Charltles {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter consldered 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 thls report in order to enable a proper understandlng of the accounts to be reached. Signed-. Name.. Judith Miller Relevant profe55ionaS qualiflcation or membershlp of professlonal bodles lif any).. FCA Address.. Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, ECI Y OTL Date.. 18 December 2023
The Charles Russell Speechlys Foundatlon Statement of flnanclal actlvltles (incorporating an income and expenditure account) For the ear ended 30 A rll 2023 2023 Total 2022 Total Note Income from.. Donations Fundraising Investments 493.057 10,298 363 387,190 Total Income 503,718 387,190 Expendlture on: Charitable activities 300,080 358.671 Total expendlture 300,080 358,671 Net movement In funds 203,638 28.519 Reconclllatlon of funds: Total funds brought forward Total funds carrled forward 120,996 92.477 324,634 120.996 All of the above results are derived from continuing activities. There were no other recognlsed gains or losses other than those stated above. All income and expenditure is unrestricted.
The Charles Russell Speechlys Foundatlon Balance sheet Charity No 1188257 AsAt ril 2023 2023 2022 Note Current asset5: Debtors - accrLJed income 80 Cash at bank and in hand 337,359 127,916 337,439 127.916 Llabilitles: Creditors.. amounts falling due within one year (12,806) 16,9201 Net current assets 324.634 120,996 Total net assets 324,634 120,996 The funds of the charlty: Unrestricted income funds.. General funds 324.634 120,996 Total unrestricted funds 324.634 120.996 Total charity funds 324,634 120,996 Approved bv the trusrees on 7th November 202 3 and signed on their behalf by Christopher Page Trustee Andrew Cameron Trustee
The Charles Russell Speechlys Foundatlon Notes to the financlal statements For the ar ended 30 A rll 2023 l Accounting pollcles a) Statutory Inforniatlon The Charles Russell Speechlys Foundation is a Charitable Incorporated Organisation registered with the Charity Commission for England and Wales. The registered office addres5 15 5 Fleet Place, London, EC4M 7RD. b) Basls of preparatlon The financial Statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitles preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Repu blic of Ireland IFRS 1021- (Charities 50RP FR5 1021, The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair. view and have departed from the Charities (Accounts and Reports) RegLtlations 2008 only to the extent required to provide a 'true and fair view, This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005 which has Since been withdrawn. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. In applying the financial reporting framework. the trustees have made a number of subjective judgements, for example in respect of slgnificant accounring estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under ihe circumstances. The nature of the estimation means the actual outcome5 could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. c) Publlc beneflt entlty The charity meets the definition of a public benefit entity under FRS 102. d) Golng concern The trustees conslder that there are no material uncertaintles about the charltvs ablllty to continue as a going concern. The trustees do not consider that there are any sources of estlmatlon uncertainty at the reporting date that have a Significant risk of causing a material adjustment to the carrying amounts of assers and liabiliries within rhe nexr reporting period.
The Charle5 Russell Speechlys Foundatlon Notes to the flnanclal statements For the ar ended 30 rll 2023 l Accounting policies (continued) e) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached ro the income have been met, it is probable rhat rhe Income will be received and that the amount can be measured reliably. Income from government and orher grants, whether 'capital' grants or 'revenue' grants, Is recognised when the charity has entitlement to the funds. any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and 15 not deferred. Income received in advance of the provision of a specified seNice is deferred until the criteria for income recognition are met. Fund accountlng Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated fund5 are unrestricted funds earmarked by the trustees for particular purposes. g) Expendlture and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment tc a third party, it is probable that settlement will be required and the amount of the obligarion can be measured reliably. Expenditure is classified under the following activity headings.. Expenditure on charitable activities includes the costs of deliverin9 seivices undertaken to further the purposes of the charity and their associated 5LlPPOrt COSt5 Other expenditure represents those items not falling into any other heading Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 10
The Charles Russell Speechlys Foundatlon Notes to the flnanclal Statements For the ar ended 30 A rll 2023 l Accountlng policies (continued) h) Grants payable Grants payable are made to thlrd parties in furtherance of the charity's objects. Single or multi- year grants are accounted for when either the recipient has a reasonable expecEation that they will reieive a grant and the trustees have agreed to pay the grant without condirion, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity. Provisions for grant5 are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount tsf grant payable. l) Allocation of support costs Resources expended are allocared to the partlcular acflvlty where the cosr relates direcrly to rhat activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basi5 which are an estimate, based on Staff time, of the amount attributable to each activity. Governance costs are the costs associated with the governance arrangements of the charity These costs are associated with constitutional and statutory requirements and include an) costs associated with the strategic management of the chariry's activiries. J) Debtors Trade and other debtors are retogni5ed at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. k) Cash at bank and In hand Cash at bank and cash in hand includes ta5h and short term highly liquid investments with a short maturity of three months or less from the date of acquSsition or opening of the deposit or similar account. 1> Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obllgation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowin9 for any trade discounts due. m) Flnanclal Instruments The charity only has financial a55et5 and financial liabilities of a kind that qualify as basic financial instruments. Basic flnancial instrL5ments are initially recognlsed at transaction value and subsequently measured at their settlement value. 11
The Charles Russell Speechlys Foundatlon Notes to the financlal statements For the ar ended OA r112 2 Income from donations 2023 Toral 2022 Total Corpora¢e Donations from Charles Russell Speechlys Other Gifts 492,887 170 374,805 12,385 All income is unresrricted. 493.057 387,190 3 Analysls of expendlture (current year) Charitable Activities Governance costs Support C05tS 2023 Total 2022 Total Grant making (note 41 Independent examination fees 284,521 284,521 351,700 3,960 3,960 11,600 3,600 3,371 Operating Expenditure 11.600 284,521 3,960 11.600 300.080 358,671 Support costs 11,600 111,6001 Governance costs 3,960 13,9601 Total expendliure 2023 300.080 300,080 Total expenditure 2022 358,671 358,671 Analysls of expenditure (prior year) Charitable Governance Activities costs Support costs 2022 Grant making (note 41 Independent examination fees 351,700 351.700 3,600 3,600 3,371 Operating Expenditure 3,371 351,700 3,600 3,371 358,671 Support costs Governance costs 3.371 13,3711 3.600 13.6001 Total expendlture 2022 358,671 358,671 The independent examination fee5 in both periods are due within I year and include VAT. 12
The Charles Russell Speechlys Foundatlon Notes to the flnanclal statements For the ar ended 30 A rll 2023 Giant maklng (current year) 2023 2022 Grants to Instltutlons Z2k Emmaus UK Home Start UK Khulisa SafeLives Gloucestershire Community Foundation Su rrey Community Foundation Plymouth Citizen5 Advice Ciry Solicitors Education ethnal Green LAC Pakistan Flood Appeal Syria Earthquake Appeal Food Bank Ald Greater Manchester Immigration Aid Unit Social Mobility Bu51ne5s Partnership London Legal Support Trust Blackfriars Settlement Inspire New Hackney Business Trust Social Business Trust British Red Cross ukraine Appeal Z2K Disability Appeals Solicitors Benevolent Fund The Churn UNICEF Afghanistan Appeal 38,000 30,500 30,000 30,000 30,000 20,000 20,000 20,000 11,000 10,000 10,000 10,000 5,321 5,000 5,000 4,000 3,500 2,200 30,000 30.000 30,000 30,000 30.000 20.000 20.000 i 0,000 5,000 5.000 4,000 3,500 2,200 i 00,000 io,000 6,000 5,000 i .000 i 0,000 Tolal 284.521 351,700 Analysls of staff costs. trustee remuneratlon and expenses, and the cost of key management personnel There are no employees of the Foundation. The total employee benefits (including pension contributions and employer's natlonal insurance) of the key management personnel were £nil. The charity trustees were neither paid nor received any other benefits from employment with the charity in the curreni year or the prior year. No charity trustee received payment for professional or other Sei(eS supplied to the charity in the current year or prior year. Trustees, expenses represents the payment or reimbursement of travel and subslstence costs totalling £nil 12022 £nill. 13
The Charles Russell Speechly5 Foundatlon Notes to the ftnanclal statements For the ar ended 30 A rll 2023 Related party transactlons During the year, there were no payment5 to related parties 12022 £100,000 was paid to Social Business Trust. Larissa Joy, a trustee of the foundation. is also a trustee of Social Business Trust. She took no part in the deision ro award these funds). Aggregate donations frorn related parties were £nil12022 £nil) Taxatlon The charity 15 exempt from corporation tax as all its income is charitable and is applied for charitable purposes. Credltors.. amounts falllng due wlthln one year 2023 2022 Other creditors 12.806 6,920 12,806 6.920 14