Registered number: 11812275 Charity number: 1188428 THE BKL FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BKL FOUNDATION IA company limited by guarantee) CONTENTS Page Reference and admlnlstratlve detalls of the Charlty, Its Trustees and advlsers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8-16
THE BKL FOUNDATION IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Tyler Jeffs, Chair lappointed 4 April 2023) EIiz8belh Barrow Rozelka Remak Sarah Gillham lan Saunderson Simon Eaton Debra Morris (appointed 3 July 20231 Nicola Masters (appointed 4 February 20251 Company registered number 11812275 Charity registered number 1188428 Registered office 35 Ballards Lane London United Kingdom N3 1XW Independent examiner Hannah Ormslon CPFA ACA Gravita Audit Oxford LLP Park Central 4041 Park End Street Oxford OX1 1JD Page 1
THE BKL FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 10 31 March 2024. The Annual report serve5 the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their awounts In accordance with the Financial Reporting Stsndard applicable In the UK and Republic of Ireland IFRS1021 leffective 1 January 20191. Since the Charity qualifies as small under section 382 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 has been omitted. Objectives and activities a. Pollcles and oblectlves The charity was established for the principal purpose of receiving contributions from Berg Kaprow Lewis LLP and disbursing the same to charitable causes which are selected at the discretion of the Trustees. Berg Kaprow Lewis LLP has undertaken to donate 1 /0 of ils profits lo the BKL Foundation. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. Activities undertaken to achieve objectives The Charity undertakes lo give grants lo UK registered Charities as ultimately decided upon by the Trustees. These grants are usually local in nature to London Borough of Barnet, where the offices of Berg Kaprow Lewis LLP are located, however, Trustees are not limited by the objects lo where monies can be donated, and may override this at their pure discretion. c. Main activities undertaken to further the Charity's purposes ft>r the public benefit The Charity furthers the Charity's purposes for the public benefit by making grants to other UK registered Charities who are able to use the funds on direct charitable aclivilies. Achievements and performance a. Maln achlevements of the Charlty The Charity has had another strong year, giving a total of 15 grants across 15 registered charities lotalling £53,490. In addition, the Foundation has championed charitable work throughout BKL, seeing consislenl staff Involvement. Flnanclal revlew . Going concem The charity has minimal fixed costs, with the main Sour of expenditure being grants made lo institutions which can be made al the discretion of the Trustees. Furthermore, the charity had a healthy nel asset position at the year end. The Trustees therefore consider that based on the circumstances existing at the dale of signature of the accounts the charity is a going concern. This basis is adopted within these accounts. b. Reserves policy The charity held unrestricted funds al the end of the year of £54,991 12023.. £75,3691.These reserves are considered adequate by the Trustees, and will allow the charity to continue making grants in the next financial period. In view of the nature of the charity, the Trustees are satisfied that no formal level of reserves are required, as grants are only made when there are available funds, and the charity does not have any liabilities lo make grants. Page 2
THE BKL FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 c. Risk management The Trustees have assessed the major risks lo which the charity is exposed, in particular those related lo the operations and finances of the charity, and are satisfied that systems and prdureS are in pla lo mitigate exposure to the major risks. d. Review of the Year The Charity had total income for the year of £36,94012023.' £65,324), comprising £36,93912023'. £65,323) of donations and legacies and £1 12023.. £11 of investment income. Expenditure tolalled £57,31812023.' £61,768), consisting of £53,490 12023.. £57,900) on grants and £3,828 12023.. £3,868) on support costs. All income and expenditure for both 2024 and 2023 was unrestricted. Funds carried forward lotalled £54,991 12023.. £75,369), all of which were unrestricted. Structure, governance and management a. Constitutlon The BKL Foundation is rIstered as a charitable company limited by guarantee and Is constituted under a Memorandum and Articles of Association dated 6th February 2019. b. Methods of appointment or election of Trustees New Trustees are recommended by the current Trustees when there is a vacancy. Trustees are then considered and appointed by the board at the next appropriate meeting. Plans for future perlods The Charity intends to continue its policy of grant making to UK registered Charities in the coming years. As Berg Kaprow Lewis LLP continues ils growth strategy it is hoped that profits of BKL, and in turn, the donation lo the Foundab"on, will Increase allowing the Foundation to provide more grants to worthy Charities. ststement of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial stslemenls 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 slate of affairs of the Charity and of Ils incoming resources and application of resources, including Its income and expenditure, for that period. In preparing these financial stslemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been ft)Ilowed, subject lo 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 business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
THE BKL FOUNDATION IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Approved by order of the members of the board of Trustees and signed on their behalf by.. Tyler Jeffs Chair Dale.. 1910312025 Page 4
THE BKL FOUNDATION IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnerfs Report to the Trustees of The BKL Foundatlon I'the Charlty'l I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Responslbllltles and Basls of Report As the Trustees of the Charity land ils director5 for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'i. Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Ststement I have completed my examination. I confirm that no matters have come to my attents'on in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act,. or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and faiv view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. 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 lo enable a proper understanding of the accounts lo be reached. This report is made solely to the Charity's Trustees. as a body, in accordance with Part 4 of the Charities IAccounts and Reports) RulationS 2008. My work has been undertaken so that I might stale lo the Charity's Trustees those matters l am required lo state to them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 1910312025 Hannah Ormston CPFA ACA Gravits Audit Oxford LLP Park Central 4041 Park End Street Oxford OX1 1JD Page 5
THE BKL FOUNDATION IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 36.939 36.939 65,323 Total income 36.940 36.940 65.324 Expgnditure on: Charitable activities 57.318 57.318 61,768 Total expenditure 57,318 57,318 61,768 Net movement in funds 120.378) 120.378) 3.556 Reconciliation of funds: Totsl funds brought forward Nel movement in funds 75.369 120,3781 75,369 120,3781 71,813 3,556 Total funds carried forward 54.991 54.991 75,369 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 10 16 form part of these financial statements. Page 6
THE BKL FOUNDATION IA company limited by guarantee) REGISTERED NUMBER: 11812275 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Current assets Debtors Cash al bank and in hand 35.374 26.837 41,959 37,070 62,211 79,029 Creditors.. amounts falling due within one year Total net assets 10 {7.220) (3, 660) 54,991 75,369 Charity funds Unrestricted funds 11 54.991 75,369 Total funds 54,991 75,369 The Charity was entiUed lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo awounling records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Tyler Jeffs Chair Dale.. 1910312025 The notes on pages 8 10 16 form part of these financial slatemenls. Page 7
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Informatlon The BKL Foundation is a Charitsble Company limited by guarantee incorporated in England and Wales. The registered office is 35 Ballards Lane, Finchley, London, N3 1XW. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Stslement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The BKL Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Going concern The charity has minimal fixed costs, with the main Sour of expenditure being grants made to institutions which can be made at the discretion of the Trustees. Furthermore, the charity had a healthy net asset position al the year end. The Trustees therefore consider that based on the circumstances existing al the dale of signature of the accounts the charity is a going concern. 2.3 Income All income is recognised once the Charity has entillemenl lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Where the donated good is a fixed asset, il is measured at fair value, unless il is impractical lo measure this reliably, in which case the cost of the item lo the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies. On receipt, donated professional serVIS and facilities are recognised on the basis of the value of the gift lo the Charity which is the amount il would have been willing lo pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation lo investment income is recognised at the lime the investment income is reivable. 2.4 Expenditure Expenditure is recognised On there is a legal or constructive obligation lo transfer economic benefit lo a third party, 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 classified by activity. Page 8
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnuedl 2.4 Expenditure {continued) Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions allaching are fulfilled. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. 2.7 Cash at bank and In hand Cash at bank and 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 account. 2.8 Llabllltles and provlslons Liabilities are recognised when there is an obligation al the Balan sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the Charity anticipates it will pay to settle the debt or the amount it has reiVed as advanced payments for the goods or setvices it musl provide. 2.9 Fund accountlng General funds are unrestricted 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. Investment income, gains and losses are allocated to the appropriate fund. Page 9
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and legacles Unrestricted funds 2024 Total funds 2024 Donations 36,939 36.939 Unrestricted funds 2023 Total funds 2023 Donations 65,323 65,323 Donations tolalling £35,37412023'. £63,795) were received from Berg Kaprow Lewis LLP In addition £1.50012023'. £1,000) relates to donated services by Berg Kaprow Lewis LLP for the preparation of the accounts. Analysis of grants Grants to Institutions 2024 Total funds 2024 Grants, Supporting good causes 53,490 53.490 Grants lo Institutions 2023 Total funds 2023 Grants, Supporting good causes 57, 900 57,900 Page 10
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of grants Icontlnuedl The Charity has made the following material grants to institutions during the year.. 2024 2023 Name of institution Age UK Barnel Bamel Mencap Chipping Barnet Foodbank Homeless Action in Barnel st Joseph's Hospice Hackney City Year UK Live Unlimited Mind In Enfield and Barnet Rephael House Restart Lives Say it Loud Club Together in Barnet Jus14children 5.000 5,000 9,000 5.000 3.000 5,000 5,000 5,000 5,400 5.000 3.000 3,000 5,000 5.000 4,320 1,000 5,000 7,320 Change Please Foundation The Panalhlon Foundation Limited 3,000 1.500 Fitness Without Boundaries 2,000 5,000 2,000 s,000 5,000 SOS Africa Inkluder CIC Red Crescent Hatzola 51,640 57.900 Other grants to institutions < £1,000 1,850 53,490 57.900 Page11
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of Grants 2024 2023 Social Healthcare 26,670 16,820 10,000 45,400 12,500 Education 53,490 57.900 Anatysls of expendlture by actlvltles Grant funding of activities 2024 Support Costs 2024 Total funds 2024 Supporting good causes 53.490 3,828 57,318 Grant funding ol activities 2023 Support costs 2023 Total funds 2023 Supporting good eauses 57.900 3, 868 61,768 Page 12
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expendlture by actlvltles Icontlnuedl Analysls of support costs Supportlng good causes 2024 Total funds 2024 Accountancy fee Independent Examination fee Bank charges 1,500 2,220 108 1,500 2,220 108 3,828 3,828 Supporting good Gauses 2023 Total funds 2023 Accountancy fee Independent Examination fee Bank charges 1,000 2, 760 108 1,000 2, 760 108 3.868 3,868 Independent examinerf$ remuneration 2024 2023 Fees payable lo the Charity's independent examiner for the independent examination of the Charity's annual accounts 2,220 2,500 Trustees. remuneration and expenses During the year, no Trustees reiVed any remuneration or other benefits {2023- £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NIL). Page 13
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs There were no employees during the period or the prior year. Debtors 2024 2023 Due within one year Prepayments and accrued income 35,374 41,959 35,374 41,959 Included within accrued income are amounts owed by Berg Kaprow Lewis LLP. 10. Creditors: Amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 2,000 5,220 3,660 7,220 3,660 Page 14
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Income Expendlture Unrestricted funds General Funds - all funds 75,369 36,940 157,3181 54.991 statomont of funds - prior year Balance at 31 Mah 2023 Balance at l Apnl 2022 Incon7e Expenditure Unrestrlcted funds General Funds - all funds 71.813 65,324 (61, 768) 75,369 12. Analysls of net assets between funds Anatysls of net assets between funds - current perlod Unrestricted funds 2024 Total funds 2024 Current assets 62,211 17,2201 62,211 {7,220 Creditors due within one year Total 54,991 54.991 Page 15
THE BKL FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Analysls of net assets between funds {contlnuedl Analysls of net assets between funds - prlor perlod Unreslricled funds 2023 Total funds 2023 Current assets Creditors due within one year 79, 029 (3, 660) 79,029 {3,660) Totsl 75,369 75.369 13. Related party transactlons The BKL Foundation was estsblished to receive donations from Berg Kaprow Lewis LLP, in order to make grants to charitable organisations. Two of the trustees of the BKL Foundation were connected with two of the members of Berg Kaprow Lewis LLP throughout the year. All other Trustees are employees of Berg Kaprow Lewis LLP. The BKL Foundation received £35,374 12023". £63,795) from Berg Kaprow Lewis LLP in the year, with £35,374 12023.. £41,959) within accrued income owed from the same organisation. Page 16