FORD FAMILY FOUNDATION
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Registered with the Charity Commission: 1188878
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FORD FAMILY FOUNDATION
| Index | ||
|---|---|---|
| Page | ||
| Trustees’ Report | 1 | |
| Receipts and Payments Account | 4 | |
| Statement of Assets and Liabilities | 5 |
FORD FAMILY FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report together with the financial statements of the Foundation for the year ended 31 December 2021. The financial statements comply with the charity’s constitution and applicable law.
Reference and administrative details
Charity Number: 1188878 Principal Address: KBS House Springfield Court Bolton BL3 2NT
Trustees: A Ford D Gardner S Lees
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FORD FAMILY FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Continued
Structure, governance and management
Ford Family Foundation is a charitable incorporated organisation, governed by its constitution dated 20 November 2019. The object of the Foundation is to advance such charitable purposes as the trustees think fit from time to time. New trustees are appointed by existing trustees after a selection and interview process. As part of the appointment process new trustees are provided with the Foundation’s governing documents, accounting information and policies, together with information on the duties and responsibilities of charitable trustees.
The following served as Trustees during the whole of the period under review, unless otherwise stated:
A Ford D Gardner S Lees
Objectives and activities
The object of the Foundation is to advance such charitable purposes as the trustees think fit from time to time. To achieve this object, the Foundation provides funding to charities and not for profit organisations to assist in the delivery of their activities, services or outcomes provided these constitute a charitable application of funds for the public benefit and further the Foundation’s own charitable purposes.
During 2021 the Foundation has been investigating suitable funding opportunities with the intention of commencing funding projects in 2022.
Grant making policies
The trustees consider applications for grants that further the Foundation’s objective. The criteria for grant making is not inflexible and the Foundation’s purposes are not limited to one specific charitable purpose to allow the greatest flexibility but in general the trustees consider:
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applications which benefit a significant number of beneficiaries
-
applicants must be charitable or not for profit organisations
-
organisations working in economically deprived areas are preferred
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established organisations are preferred
Financial review, achievements and performance
At 31 December 2021 the Foundation held investments valued at £1,700,000 (2020 - £1,277,500).
No receipts and payments were recorded during the year.
Within these accounts, the comparatives for the year ended 31[st] December 2020, have been restated to show no receipts and payments were recorded during the year and the Statement of Assets and Liabilities is restated to remove the bank balance and liabilities.
Investment policy
The funding of the Foundation has been through the gifting of shares in K3 Capital Group PLC. The trustees consider it to be appropriate to continue to hold these shares as its investments.
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FORD FAMILY FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Continued
Reserves policy
The trustees’ policy is to distribute any income arising in the Foundation, after allowing for operating expenses, but to retain a small proportion of income in reserve as cash to meet urgent needs in advance of expected receipts.
Public benefit
The trustees are aware of the Charity Commission’s guidance on public benefit. The work of the Foundation and the funds it raises are wholly directed towards furthering the aims and objectives set out on page 2 and the trustees are therefore of the view that the Foundation satisfies the criteria laid down for meeting the public benefit test.
Trustees’ remuneration
No trustees received any remuneration during the year. No trustee received reimbursed expenses during the year (2020 – £0).
Trustees’ responsibilities
In the year ended 31 December 2021 the financial statements have been prepared on a receipts and payments basis. This is in line with guidance provided by the Charity Commission.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of Ford Family Foundation and enable them to ensure that the financial statements comply with relevant law. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By order of the Trustees
Anthony Ford
Anthony Ford (Nov 21, 2022 15:29 GMT)
……………… Anthony Ford Trustee Date: 21[st] November 2022
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FORD FAMILY FOUNDATION
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Note | As restated | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| 2021 | 2020 | ||
| £ | £ | ||
| RECEIPTS | |||
| Dividends received | - | - | |
| ─────── | ─────── | ||
| Total receipts | - | - | |
| ─────── | ─────── | ||
| PAYMENTS | |||
| Charitable activities | - | - | |
| ─────── | ────── | ||
| Total payments | - | - | |
| ─────── | ────── | ||
| Net receipts/(payments) | - | - | |
| Cash funds brought forward | - | - | |
| ─────── | ─────── | ||
| Cash funds carried forward | - | - | |
| ═══════ | ═══════ |
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FORD FAMILY FOUNDATION
STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2021
| STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2021 |
||
|---|---|---|
| As restated | ||
| Unrestricted | Unrestricted | |
| 2021 | 2020 | |
| £ | £ | |
| Investment assets | ||
| 500,000 shares in K3 Capital Group PLC | ||
| Valuation as at 31 December 2021 | 1,700,000 | |
| ═══════ | ||
| Valuation as at 31 December 2020 | 1,277,500 | |
| ═══════ |
The financial statements were approved by the Trust on 21[st] November 2022 and signed on its behalf by:
Anthony Ford Anthony Ford (Nov 21, 2022 15:29 GMT)
Anthony Ford Trustee
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