Ch&ity registrationnumber.. 1189045 Collwiy rtgisttmtion nvmb¢r. CE021533 , The Richard Porter Family Foundation (A compally limited by 8Urntee) Annual R¢portandFinan¢iai Stst¢m¢nts for the Yeor ETknleA 31 D¢cembw 2024 SKS Ivesilake ClarkAudii 7 Lynwood Lourt Priestl?$ Place Lymillgton 14&mpshi S0419GA
The Rlehard Porter Family Foundatlon Contents Refertn¢eandAdministtlltive Dtlai TTUStecs' Report Sialement of Truste¢8' RW9111r Indep¢Dd¢ntExmiinets'Repcfft Stdtement ofFiDBneial Aclivitie8 Bftlftnce Sheet Not&% 10 the Fir}¢181 Ststemetlts 71012
The IUch4rd Porter F4mi]y Foundadon Reference And Admintstradv¢ Detajls ChAlrmo RMPort Truyt D M Ralph RMP(rt Prlnclpil Offl¢¢ Siour8aie. 4 Siour Road ChrisichuTch t)01 BH23 IPS Re8htered Offlce SwuTgal¢, 4 Siour RoAd Christchurth BH23 1 PS CompAny Reglstrntlon P4wmber CE021533 Ch4rlly Reglsirnllon Number 1189MS Indeptnflent Ei4llbln¢r Mosanell Ch¢lvaThaiBUill FCCA SKS Westlake Clark Audii 7 Lyttwood Court PritsUaiid$ Pla¢¢ LyJuiJ)8ton NaMbIr¢ S041 S¥JA Page I
The RlchArd Porter FallY Foundatlon Trnytees, Report The trnsttts pr¢¥ent the rEPOrt fillclai StateMts of the charity for the year ¢nded 31 D¢c4mber 2024. Tho fjnancial $tAtement$ have beett prepfjreAJ in aw?rd8nLX wxth the A¢countin8 policies 8¢t out in not¢ I to tbe Lccounts and comply with the ¢hArity's constitutsoJ4 the Charitie5 Act 2011 and Accountirtg and Reportill8 by Charites.. StBtement of Recommended Practice appii¢able to thoritiss prepsring their accnuttts in accordance with the Fina11 Reponing Standdjd applicable in the UK oud Republic of Ireland (FRS 102) (effective l Jenuary 2019). Objectlyu and 4¢tMtles PMbtiL bL'iJefu The tru&tee8 confimi that they have complied with the re4lliremtDts of sectioo 17 of the ClJaTiue5 Act 2011 to have due T¢BJrd to the public benefit guidance published by th¢ Chariry Commis6ion forEn8ld and Walej. FlnAnclJ1lD8trnmets Objeerfves andpolleles The charity's aetiviiies expo itto4 numberof fit)8llcial Tisks i1]n8 credit riBL osh tlow riBk aud liquidity risk. The u&e of finsucial derivatives is governed by the charity'5 poIi¢i¢5 Dpproved by the board of twstees, which ptoYid¥ wrilten priDciple8 on th¢ use of fin4n¢ial derivative8 to mADa8e the4e risks. Tha ¢barity doe¥ nol us¢ deriyo¢ive financial instrLMneThrs for speculative purNJS¢S. R8semi¢sPull¢y Th¥ ¢liaL'Lry rrquiru to hold ai le*st £5.CM)J it) rcxryes to eoverthe operational costs of the bu8ine$8 for ac least a 6- Inonth p¢r1(. Tlie dJ4rity rese1V Can only be spent when thc Trust ilc4r are suitabl¢ itt¢ome str¢llms fore¢&$t to cover and replace the reseTVeY. This policy is Teviewkxl on aa At)nual basis. Rel#ted partlei Durtng the year thett were no r¢laled party transa¢iion% DlJcl0$re ofinfornhfjtlon to the examhr truste¢ h95 Steps that they oughi tts have tskeD as a In1¢¢ itt order lo mjke them%lve8 awRre of WJY r¢levHnt infonllalion and to ¢stsbli5h that the Independent examlD¢f is &wire of that infornlat1o The tNstecs nfinn that Ibere is no levant tDformLion that they know of and of whicb they kmw the exarnineT is unaware. The Bnnuai pOrtW&S approv¢d by the trustee8 of the clwity (fA........... . lld Sign otsits behalf ty. R f¥1 Port CliulrmAn trultee Pa8e 2
The Richard Porter Famlly Foundation stste]nent of Thistees, Responslbllldes The cbwity trustees ate responsible for preparing the tnth. report and thefiMa1l stat¢ments in &c¢ordanc6 with Ibe United Kingdom Ac¢oEmtlDg StaDdards (Unikd KTrti8dorn Geller411y Accwted AccDUttting Praeti¢e) appti¢abl¢ law and regu]aiioL Tbe l&w 4pplicabl¢ to cl)ariti¢8 tn Englond 8ry1 Walos r¢qui¥ts the tru#tt8 W prepare tlnattcial statements for each fiuancial year. Thr tsIL8tees must not approve the fi]]allci&l 8t8tements unlesy they are Satisfi thfit ihoy give a true 4tJd fairview ofthe81al¢ ofdffair5 of the ch&rityHudof itsillEt>mingTesouw alld application of resour¢e4 including ts income aud expenditure. for pericd. In prepArÈn¥ the8¢ fu)ancial ststem¢nty the InJste¢s are required to: sel¢¢tBuithble accountlng polici&84tsd apply ihem consisknlly obserY# th¢ method5 And prin¢ipl¢s in the Chorilies SORF: make jiidgemtnts and eStiMeS th)t ieasonabl¢ and pnth¢ state whether applicable UK AOUntIng StsndaTth have beeo followed subirft to any nkileiial depaTtures disclosed and explained in the financial stat¢ments', and prepare thtr finala1 statements on the 8oAng nCern 1>4sis unle8A 1¢ is inappropri&ts to psume tho¢ the chgritable Company will continue in busine08. The tn15¢e¢s are resp0119ibl¢ for keepin8 od¢qu8te atrounting wordB that Rre sufficient to 8how and explain the charity's transactions and dis¢l08e wSth relsonable occurary &t any tlm¢ the Iln8nci&l position of the eh8rity ond enable them to ensure th4t the finan¢i413141emenL8 eornpty with the Charitic5 Aci 2011, th¢ Chariry {AOUnts and R¢porisl Re¥ii14Ltk)ns 2c8 and the provisions of the e1)arit5 Constitution. Th¢y 4Te also Irsponsible for s&fLbTlllU'ding the assets of the charity Rnd heo¢e for rakin8 reasonabl¢ sw forth¢ prevention and detection of fraud And tsth¢r irreBulariiie& The ¢N8t¢¢8 or# re5p)nbl¢ fur the m8inlenance al inte8riry of the clwity gnd the finAn¢ial infOrntIOn included on the charitys w¢bsil¢ in accordJn¢¢ with lesis]a¢ion in th¢ Unit•J Kid0M gov¢nung the prepur4tioll and di88¢miiiaiion of financial st&tem¢nts. Approved by tbe trnstees of the charlty on. 2.91.05}.2025.. and si8wI oll its behalf by: R M Porl¢r Chalrmall Aud trustee Page 3
The Richard Porter Famlty Foundation Independent Exanthier's Report to the Members of The Riehard Porter Famlly FoundatioD I reportto thetrustees OTJ my oxaminthoo of the finott¢ial Btstements ofThe Richard P4)rtrr Fomily FowidfttiOD (CIO) for the Ye ¢Dded 31 2024. RponsIbIlItIeS ond buls of reptsrt As th¢ charity's twsieeg, you 8r¢ rtspoMibl¢ for the prtyArntion of the finau¢i81 statements it) 3ccordoncc with the requirements of the Charitles Aci 2011 nhe 2011 Acn. 5r¢port inrespe¢tofmyex8minauon of the charity'8 fiDanrial statrm¢ntscarriedoutundersection145 oftheChwitie8 A¢t 2011 (the 2011 Aci). In carrying out my examinatioD I Ihaye follow¢d all tho opplicable Dimiions giveu by the Charity Conllni8sion under $tion 14515)(b) of the 201 l Act. Indoptndent tx#mlner's Statement I bave coinpltied n)y &mtAatioll. l eonfimi thwt no matter5 huve LX)me to my attthti¢)n in connection with the examination giving me Cause to b¢liev¢ that in any material respecL l. cOUntIng record5 wer¢ not k¢pi in restrt of the charity Is requited by mon 130 of th¢ 2011 Act; or 2. the financial wtements th) not aord with thos¢ reds. or 3. the finarte1 Sl¢M¢llts do noi cnmply wlth the oppLicable requirern¢nts concernin8 the fomi aiid cont¢nt of accounts sst out in the Chirities {Accounts and Reports) Re8u]¥tiony 2008 other than any requiren)ent that the aecounts give a tsue and fatr view whi¢h is not a DtIrr eonsider¢d as part of an indetndent ¢xaminatioTL I have no concerng and Ft&Ye Come ocrosB DO other mattern in ¢OnnlIOn with ihe examin4tiort which attentsoft sliould bt drawn in this report ID order kn en•ble a Properundet8 of the financial stst¢ments to be reach. Mo8an '8w]I'FCCA SKS Wesilake Clark Audit Chartered Ac¢outttNnts 7 Lynwoodcourt Pritsstlartds P19¢e Lyn)ington H8mpshir¢ S0419GA Date.. 2025 Page4
The Riehard Porter Family Foundation Stlltsment of Flnancial Actlvitles for the Year Ended 31 December 2024 (Including Income And Expenditure Aeeount and Stslement of Total Reeognised Gains And LSSeS} Note Unrtstrleted Tot 21124 JDcottte endowm¢nt from: Donatio8 legacies InNegtment incon 1,953 28,076 1,953 28.076 Total ineomo EXpetsd1tre on: Ch8ritAble actiiqties Other expeThAiiure Tr)tal ex1]re Nel incom¢llexF¢nditure) N¢t rnoy¢ments in rd9 {15Jll) {15,311) 1SJll 14,718 14,718 ReconelllAtlon offunth Total fuTK15 brou8ht forw8Td Totsl futtd4 evried forw? 1 198 282 1198 282 I3 1213000 16 Unrestrleted fund5 Totnl 2023 Income #nd endowmtnts from: Donutions aThJ legacies Imrstsllent income 587 25231 587 25.231 Tol81 income Expenditllre on". Charitable aeiimtiea Other elltUre Totsl expeIlture Net income (2679) 47 {26,579) 47 714 714 Net moNrments infim (714) {714) RecoRclllAtlon of fondg Total funds brought ftsrwwd Tot fiTllds carried forThurd 1,198 996 1 198,282 1 198,996 1,198,282 16 All of the chHrity'$ 4ctivities d1¥¢ fromiontiTmiD8 operatiotss dllringthe obove two periods. Tha fimd8 br¢Èkdown for 2024 is slKWll in note 16. The noteÉ onp88es 7 to 12 fomi an integr81 partof th¢6e fittancial stslettnts. Page 5
The Richard Porter F#mlly FowidAtion Balance Sheet os at 31 December 2024 Ilote 2024 2023 Flxed 45Jets Illstments 13 659.907 659,907 Current assets h ot 2nd inbar 14 554 J23 1,230 539515 1,140 S38 375 Credltor$'. Amoullts f8lllng dut wlthlo one ye Net curreDt &19ets 15 553 093 Net Q33etJ 12l3000 1198 282 Fiinds fjftlie chwlty. Unre5trl¢ted Income Unrestrict¢d fi& 1213,000 13,000 1 198282 Thtal hw(b 16 1198 282 The finÈncl81 statemettts on paBeJ 5 10 12 were 4JPtovedby the tswtee8, Ind authori8ed ftir iw on and 9igned on Iheir bDholf by: oJ/è RfvIPo ter Chalrmol Ind trustee Th¢ uotes on py 7 tt) 12 forni ao iniegral Ffflrtof the fits¢181 sthtemeryt& Page 6
The Richard Porter F2mlly Foundatlon Notes to the FIllClaI Ststements for the Ye8r Ended 31 December 2024 I Chthrlty ststus Legal 6t8t$ of the ch&rity Tbe orBani8ation 1$ 8 ¢haTitsble incorwjrdted Organisl0n (CtO} r¢8iStuedw acharity With the CharltyConuiii8SlOll ou 14 April 2020 (Charity no. 1189045). FAch of the tnLYt¢es 18 liabk to contTibuts au aTnount Mot exceeding £Nil tow&rds the assets of the charity in the eY¢nt of liquidatioEL The address of its T¢8i¢red offi¢¢ k: Siourgaie. 4 Siour Road Chriqlchurch Doys¢t BH23 1 PS l A¢¢ou•tJng pollcJ¢s Summory of slgnlfleant accountlng polkks key utltD•t The principal accounting poli¢ies llpplied in the preparatiort of these finanLial stm3llts are set out below. The4¢ policle8 Iwve been consisteDtly w>lied to oll theye4rs prrsented. ullle15 otherwise st4k StJt•ment ofcompllnnee The financial $18tenients have beeD ID a¢¢ordae with Acmtins and R¢porting by Ctwities.. Statement of Re¢onimentsJ Praetice applicable to ¢h2ritie5 preparing their OUnts in auoithnce with tbe Fill¢]01 Reporting Standard applicabl¢ in the UK &lld Republic ofireland (FLS 102} (effective l January 2019)- (clrItI0S SOBJ) (FRS 102) Revised). theFinanet81 RepoTtin¥ St8nd8rdapplieAble in the UK a]id Kepublic of Ireland IFRS 102). They a130 comply with the Charitiu Aci 2011. The clwity h4s taken adv8nta8e of the WViSiOTW in th¢ SORP foT ¢hJritie4 not ty prepare 4 Stat¢m¥nt of Cosb Flows. B$l$ of pr¢pAratlon The Richard Port¢T FKmily Foundation is a charit&bl¢ incorporated organization (CIO) registered wtli ChIlY ComTDis$ion. The ad(Iresy of it8 Te8lSteted office is 8iv¢n in th¢ ch8ritv inftsrination on pa8c l of these finwicial 8taiem¢n13. The nature of the Charity's opera¢ions aTbd princrpal activitie5 given on pag¢ 2. Tho Clwity meets th¢ defitLitioD of & publi¢ benefit entity under FRS 102. As8ei8 at)d liabilitie6 Are initially rKognised At histori1 cost or tran58¢tion valuB unlc4s otherwise $tstl in th¢ relevant 8ecountAn8 policy note8. Th¢ financial 8ts¢¢m¢nts conlain itifornjbtion obout Th¢ Richard PorterFamily FoundAtion as individual charity only. Th¢ fulancial statwnrnts are pruented in prffjnd st¢rlin& wbi¢h 15 the fiubctl0n UJTreocy of th¢ Chwity and rounded to the neaRst £1. Golng coneorn The triislee5 consider that there Rre no nterIal uncertttintics al)out th¢ charitls ability to colltinue a5 u going eottcem noi ony significant areas of illjcerlainty th&r affe¢¢ the carrying value of 85set8 held by th¢ chority. Page 7
The Rlchard Porter F2mlly Foundatlon Notes to the FinAndg1 Statements for the Year Ended 31 December 202A Incom¢ and endovm¢Dts All income is Tecognised once the eharity has rntitlmnent to the Incom¢ it 1$ probthk that th¢ income will be received and th¢ UmOUD¢ of tl in¢ome r¢¢eivabl¢ ¢an be Meas rnliably. Dongtlons 4Dd legn¢ Donatioii8 are r¢costuscd when the elMTiiy h&% been nlf1 in writing of bjtb the attwunt and 5ettlemMt d&te. In Ihe ¢vent that &donaiion is subject to conditions thatrequirea level ofperfonllaThce by the ¢haTity before the ohllrily 18 eniitled to the funds, th¢ inconw 18 d¢f¢rred and not recogDised until either those co1idiii1S Are llY met, or the lfilment of thos¢ conditions is wholly within thr Control ofthe charity and il is probable tliat these conditions will be thlfilled its the reporting puio E¥pendltDre All expenditure IA recognifyed once there is a le8al or c4)nsttuetiv¥ obligallon to that cxpenditure, it is probabl getilcincni is rcquired and the amount can be mc&surcd relitsbly. All ¢05ts8r¢ alloeoied to the ftpplicable expe11dire h¢f¢diftg thos¢ aggre8ate similar costs to that Category. Wherc costs cfjntsot be directly attribut¢d to particular headiugs. they h4v¢ been alloCad on ¢oIi$i51¢nt with the use of resources. with C¢tttrul staff ¢o$ts allocated on the basis of tim¢ spent, d¢prxi4tion charges ailorAtrd on Ihe p)rtioll of th¢ a68et'B Use. Oiher support csts are allocoted based on the Spread of staff costs. ChiiAiabl¢ Actirfti¢J Chu"ilEble exp¢ndiNre ¢ompris¢s those uJ8ts incurTedby the cbarity in thv d¢liv¢ry of its activities and serviceB for its beneficiaries. It includes both costs thai can be &ll(uted directly 10 such tiVItieS and those costs of al) ind1¢ nnture ttetessary lo $upp)rt ththn. Support coats Siipptsrt COAt% Incli¢ c¢ntr&l func(ions havc becn a]locad to activity cost teorieS on & bosls cottslst¢tt¢ with thc lis¢ of rc8oiiwe$. for exarnplc, l0¢ting prom by floor area4 or1 wits, eost$ by th¢time spent llnd oti)ercosts by their usage. Governanee tts These include the costs ¢ributabl¢ to the ch1ry,8 complian¢¢ wlth eotistitytional and 91atyJlOry requtr¢mens, in¢luding Audit. strategi¢ mamgement and trustees, mediti8s and reimbursed expenseg. Toxntlotl The chariry ig are8iStered ch&rity aDd thaefor4 is th)t ii8bk for IncomeTax or Coryoration Tax on income derlv¢d from It8 charitable aetivitie4 it falls vithin the ¢xemption5 available to re8iStered ch&ritie8. l#Yestment propertffie¥ Investmeut property is Caled at thtr Y¢. derived from the cutrent pri for compornble reNI ¢¥tate detern]itied llmiually by rxtemRI valuer5. The valuers use ob5ervabl¢ Mll¢¢ prim adjusted if nece5&Ary for IY diffcrcn¢o in th¢ natUTC, Ia0n or cond1tio of th¢ spAr1¢ 8sseL Ch4ttge5 iu faTr value arc reco8llts¢d ui profit or Cash And c83h equ1yellts C&sh and cash eqiiivalcnt5 comprtse casb on lld and Call deposit% and other short.tennbigbly liquÈd investments ar¢ readlly convertible to a knowry) amowil of cash and are subject to aD insignifJ¢gnt risk of ch}ge im va]u¢. Pa8
The Rlchard Porter Famity Foundation Notss to the Fin&llclal Sthtemeuts for the Year Ended 31 December 2024 Fund slyudure Unrestricted incom¢ funds aTe 8en¢Tal fond8 that are r4VOilable for use otthe Irustee8 digcredon in fithlLerance of the objertiveB of th6 Ihariry. 3 IneomE from donatlfjD$ Ind leg4Eks Ullreitrlettd Tot41 21124 Totfil 2023 Gentr Donatio &j lega¢ie$.' Donatio from COrnFrfni¢8, InL8iS similar 953 .953 587 587 1,953 4 Investment In¢om• Unrestrlcted fuNd5 Gener Total 2024 Total 2023 Interest receible orkl $in)ilar incon. 011[ int¢re81 re¢eiwble 5 Expendlture oa ¢hrltsble Acdyltles Note Unrt5trl¢ted fundg GeDer TotAI 2024 TotAI 2023 Gr¥tS and donlltiQll5 GoNeinance costs 14,081 30 14.081 1.230 25,019 6 Grnntg Alld don•tloni Unrestrleted Totsl Tht#] 2023 Generl 2024 Ewiprnent & Decor8tion at Winton Boxing Gym Donations mJe to Tegi51¢ied cbariti¢s .172 1.172 12,909 14,081 15.900 9,119 14,081 P8ge 9
The Rlehard Porter Famlly Foundatlon Notes to the Financial Ststements for the Year Ended 31 Deeember 2024 7 Other expendlthre Ujwutrleted fun Gener41 Total 2023 2024 Allor*¢d SUprt costs 47 8 Allalysls of ¥overnnnte 4nd 8uppDrt costs Uwestrleted Total 2024 Thtal 2023 GenerAI Bank rharges 47 47 Governance costs UDrestrl¢t¢d runds Gener#l Toi 2024 Totgl 21123 ideplndent ex1111]at1Oll of fuwwial 8tgiements Legal andprolessional fee$ 1230 1.230 1.140 420 9 Net In¢omlnWollÈ¢omlD8 resouryes Net incomiD8 resour¢efj for the y¢ar IrKIle.. Tot41 2024 Total 1023 Ind¢kxndettl exJmineT'S Fee5 00[nnCe and 8wwortcosts 1230 30 1,140 10 Trustcts, remuncrntion And expense Durin8 the year, the Charity ba8 not ppid OT teimbur5ed 8nylnwe¢s' ¢xpetLses andlorremuner8tion. Page 10
The Rlchard Porter Famlly Foundation NDte8 to the Flnanelal Statsments for Ihe Year Elided 31 December 2024 11 IndependeDt examltter'g ralluneratlott Total 2024 Totnl 2023 Ind¢pendent eXnIli0n0f the financiol st&trm¢nts 12 Taxatlon The Chariiy is a r¢8i5tered charity fftlld is therefore aTempt from taxaiton. IJ Flxed #i*t InvestmeNI¥ 2024 2023 tnNt8tmentproper¢ies 659 907 659907 Investjnent propertlej prtip¢rtle8 Cos¢ ur VAlufjtlo At 01 JonLithry 2024 659 907 Provlslon At 31 De¢eJnber 2024 N¢t l)ook vA)ue At 31 D¢¢eDthr 2024 659 907 Prop¢rty wa5 aequired on 5 (ktober2022 at whicb point a valllLtion would huv¢ been cattied out prior to AWU5ition. "Ihe Tnte¢S of the opinion that the ¥b]u¢ of the ptoperty wouldbe of sijnilar value As 31 December 2024. 14 Cash Ind ¢#sh cqulvaknts 2024 2023 554 539,515 Pa8ell
The Rl¢h8rd Porter FAml]y Foundatlon Notes to the Flnan¢l#J Statements for the Year Ended 31 Deetmber 202A 15 CredltOTJ: 8JllowIts falllng due TwttIthI OlleyeAr 2024 2023 Ac¢rug18 1,140 16 Funds Bglauce At I JAlluary 2024 BAillnce At 31 December 2024 tDcomlDg reiourees Resources expended Unreslrlctred fvnd$ General GeneTai fund Bhl#ncc at I Janmary 2023 BAIAnce at 31 Decomber 2023 Incon8 resovree• ReJourceJ expended Unrestrlclred thn Genernl Gener81 fimd 1198996 1 198?82 17 AnAlysts of net assets bethoen funds Unrejtrleted Total thnds &t fid5 31 Deeembei. General 2024 Current 88sets Curr¢nt liabiliiies Total net &8ets S54J23 30 553 093 554.323 553 093 Page 12