Charlty number: 1189223
THE RENEGADE FOUNDATION
(FORMERLY THE BLP CHARITABLE TRUST)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023

THE RENEGADE FOUNDATION
CONTENTS
Page
Reference and administrative detaS15 of the twst. its trustees and advisers
Trustees. report
Trustees. responslbllltles statement
Independent examlner's report
Statement of financial artsvitles
Balance Sheet
Notes to the flnanclal statements
9-14

THE RENEGADE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF
THE TRUST. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 6 APRIL 2023
Trustees
L R Plant
B E Plant
D Jackson
Charlty reglstered
number
1189223
Prlnclpal offlce
Btjckles Solicitors LLP
Grant House
101 Bourges 8oulevard
Peterborough
Cambridgeshire
PEI ING
Independent ex•mlner SRLV Audit Limited
Elsley Court
20-22 Great Titchfield Street
London
WIW 8BE
Page 1

THE RENEGADE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 6 APRIL 2023
The trustees present their report together with the financial statements of the charlty for the year ended 6
April 2023.
The trustees have adopted Ihe provisions of Accgvnting and Reporting by Charities.. Statement of
Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republlc of freland IFRS 1021 (effective l January 2019).
On 19 December 2022, the charity changed its name from The BLP Charltable Twst to The Renegade
Foundation.
Objectives and •ctSvltles
ObJectlv•* and •lm¥
The oblectSves of the trust jre to art as a resource lor young people up to the age of twenty five years livin9
In Greater London by providing advice and assistance and or9anising pro9rammes of physical, educational
other activities as è means of.. advancin9 in life and helping youn9 people by developlng thelr skills,
capacities and capabilities to enable them to participate in society as Independent. mature and responsible
individuals,. advancing educatlon.. relievin9 unemployment,. providing recreational and leisure time activity in
the Interests of soclal welfare lor people living in the area of benefit who have need by reason of thelr youth,
age. Inflrmity or disability, poverty or social and economic circumstances with a view to Improving the
condltions of life of such persons, such other charitable objects as the trustees for the time being shall In
their abstslyte discretion determine.
Achl•vements and performanc•
. Flnanclal pos5tlon
During the year, the trust received no further donations, as the trust plans to use existing fvnds Invested in
a share portfolio to support various charities.
During the year, the investment portfolio generated dividend and interest Income of E66,055 12022
£49,192) and realised and unrealised losses of £200,763 12022 gains of £62,75SI. Thls performance is
con51dered acceptable considering the volatility of the market.
Grants were made to a number of charities totJllin9 £100.000 (2022 £70,000) and these are detailed In
the notes to the financial statements.
Total expenditure exceeded income by £270,175 12022 - total income exceeded expenditure by £7,575)
which has been carried forward In Ltnrestritted reserves.
b. Investment pollcy and perfornbance
The trust's current investment strategy is managed by Quilter Cheviot. a member of London Stock Exchange
who Is authorised and regulaled by the Financial Conduct Authority.
Financial review
a. Going coneerrb
After making appropriate enqlbiries, the triistees have a reasonable expectation that the trust has a(Jequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to
adopt the going concem basis in preparing the financial statements.
Page 2

## **THE RENEGADE FOUNDATION** 

## **TRUSTEES'REPORT(CONTINUED) FOR THE YEAR ENDED 6 APRIL 2023** 

## **b. Reserves policy** 

The trust cur **r** ently has free reserves equal to the value of the trust's unrestricted funds. As overheads are low, the trustees do not consider It necessary to maintain a specific level of reserves. 

## **Structure, governance and management** 

## **a. Constitution** 

The Renegade Foundation 1s a registered charity, number 1189223, and is constituted under a trust deed. 

## **b. Methods of appointment or election of trustees** 

The management of the trust ls the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. 

## **c. Organisational structure and decision-making policies** 

The charity Is managed on a day-to-day basis by the trustees who deal with all applications for grants. 

## **d. Financial risk management** 

The trustees have a duty to identify and review the risks to which the charity Is exposed and to ensure appropnate controls are In place to provide reasonable assurance against fraud and error. 

The trustees have assessed the major risks to which the trust is exposed, In particular those related to the operations and finances of the trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. 

As the trust has low expenditure, there Is no minimum requirement of reserves needed to maintain the trust. The trust reserves are all held In share Investment portfolios and cash at bank. 

## **Plans for future periods** 

There are no concrete plans to change the activities of the charity. However, the trustees are keen to expand the ambitions of the charity when they are not as busy with working life. Although no decisions have yet been made, one area the trustees would like to advance is In environmental giving. This may take the form of donations from the trust or in the creation of a separate charitable entity. 

Approved by order of the members of the board of trustees and signed on their behalf by: 


**----- Start of picture text -----**<br>
BE Plant<br>Trustee<br>11 April 2024<br>**----- End of picture text -----**<br>


Page 3 



## **THE RENEGADE FOUNDATION** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 6 APRIL 2023** 

The trustees 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). 

The law applicable to charities In England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of Its incoming resources and application of resources, Including Its Income and expenditure, for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of the Charities SORP (FRS 102); 

- make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained In the financial statements; 

- prepare the financial statements on the going concern basts unless It Is inappropriate to presume that the trust will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the trust's transactions and disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust 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 its behalf by: 

**BE Plant** Trustee 11 April 2024 


Page 4 



THE RENEGADE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 6 APRIL 2023
Independent examlner's report to the trusttts of Thè Renegade Foundatlon ('the trust,)
I report to the charlty trustees on my examination of the accounts of the trust for the year ended 6 Aprll
2023.
R￿ponsIbIlItIeS •nd basis of report
As the trustees of the trust, you are responsible for the preporation of the accounts in accordance with the
requirements of the Charities Act 2011 I'the 2011 Act'}.
report in respect of my examination of the trust's accounts carried out under section 145 of the 2011 Act
and in carrying out my examination I have followed the appllcable Directlons glven by the Charity
Commission under sectlon 145(5llbl of the 20IJ Act.
Ind•p•nd•nt •xamln•r'• •tstemeht
Your attention Is drawn tts the fact that the trust has prepared the accounts in accrgrdance with Accountlng
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
account5 in accordance with the Financial Reporting Standard applicable In the VK and Republic of Ireland
IFRS 1021 in preference to the Accounting and Reportlng by Chantles: Statement of Recommended Practice
Issued on l Aprll 2005 whlch is referred to In the extant regLtlatlons but has been withdrawn.
l understand that thSs has been done In order for the accounts to provlde a true and falr vlew In accordance
with the Generally Accepted Accounting Prarti¢e effective for reporting periods beginnlng on or after I
January 2015.
I have completed my examinatlon. I confi.rm that no material matters have come to my attention In
connection with the examination givlng me cause to believe that in any material respect..
accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act,.
or
the accounts do not accord with those re¢ords' or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts Set out In the Charities {Accounts and Reports) Regulation5 2008 other than any
requirement that the accounts give a 'tnJe and fair. view which is not a matter considered as part of
an independenl examination.
I have no concerns and have come across no other matters In connertion with the examlnation to whlch
attentlon should be drawn in thi5 report in order to enable a proper understandFng of the accounts to be
reached.
Page 5

## **THE RENEGADE FOUNDATION** 

## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 6 APRIL 2023** 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the trust and the charity's trustees as a body, for my work or for this report. 


Richard Gilbert 

For and on behalf of 

## **SRLV Audit Limited** 

Chartered Accountants Elsley Court 20-22 Great Titchfield Street London WlW 8BE 

11 April 2024 

Page 6 



THE RENEGADE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 6 APRIL 2023
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Investments
66,055
66,055
49, 192
Total income
66,055
66,055
49,192
Expendlture on:
Charitable activltles
133,701
{1.041)
133,701
(2,041)
105,356
{9841
Other expendlture
Total exwndlture
131,660
131,660
104,372
Not expendlture b•for• n•t (lo$w$)1g•ln• on
Investments
Net IlossesllgaSns on Investrnents
{65,605)
(200.763)
(65,605)
(200,763)
155,1801
62,755
Net (•xpendltUTe)/lncome before taxatlon
Taxation
{266,368)
(3,806)
(266,368)
(3,806)
7,575
Net rnovemont In lunds
(270,174)
(270,174)
7,575
RecoThclll•tlon of ltsnd•:
Total funds brought forward
Net movement in funds
2,229,507
{270,174)
2,229,507
(270,174)
2,221,932
7,575
Total funds c•rrled forward
1,959,333
1,959,333
2,229,507
Page 7



## **THE RENEGADE FOUNDATION** 

## **BALANCE SHEET AS AT 6 APRIL 2023** 

|**Note**<br>**Fixed assets**<br>Investments<br>8<br>**Current assets**<br>Debtor<br>10<br>Cash at bank and in hand<br>Creditors: amounts falling due within one<br>year<br>11<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>12<br>Unrestricted funds<br>12<br>**Total funds**|**37,733**<br>**37,733**<br>**(11,526)**|**2023**<br>£<br>**1,933,126**<br>**1,933,126**<br>1,299<br>48,753<br>50,052<br>{18,657)<br>**26,207**<br>**1,959,333**<br>**1,959,333**<br>**1,959,333**<br>**1,959,333**|As restated<br>2022<br>£<br>2,198,112<br>2,198,112<br>31,395<br>2,229,507<br>2,229,507<br>2,229,507<br>2,229,507|
|---|---|---|---|



The financial statements were approved and authorised for issue by the trustees and signed on their behalf on 11 April 2024 by: 

**BE Plant** Trustee 


The notes on pages 9 to **14** form part of these financial statements. 


Page 8 



THE RENEGADE FOUNDATION
NOTES TO THE FINANCIAL StATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023
Accounting pollcles
l. l Basis of preparation of tinanci•l ststements
The financial statements hove been prepared in accordance with the Charities SORP IFRS 102)
Accountin9 and Reporting by Charities.. Statement of Recommended Practice applicable to
charlties preparing thelr accounts In accordance with the Financial Reportlng Standard appllcable
In the UK and Republic of Ireland IFRS 1021 leffective l January 20191, the Financlal Reporting
Standard applicable irb the UK and RepLrblic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf view and 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 Charltles SORP IFRS 1021
published In Ortober 2019 rather than the Accounting and Reporting by Charities.. Statement of
Recommended Practice effective from l April 2005 which has since been withdrawn.
The Renegade Foundation meet5 the definition of a public benefit entity under FRS 102. A55ets
and liabilities are inltially ￿COgnised at historical cost or transactlon value unless otherwlse
stated In the relevant accountlng pollcy.
1.2 Incom•
All in¢tsme is recognised once the trust has entitlement to the income, It is probable that the
Income will be received and the amount of Income receivable can be measured rellably.
Income tax recoverable In relatlon to investment income is recognised at the tlme the Investment
Income Is receSvable.
1.3 Exp•ndltyr*
Expenditure Is ￿cognISed once there Is a legal or construttlve obligatSon to transfer economlc
benefit to a third party. it is probable that a transfer of economic benefits will be requlred In
settlement and the amount of the obligation Can be measured ￿lIablY. Expenditure is classifietj
by activity. The costs of each artivity are made up of the total of direct C05t5 and shared cost5,
Including support Costs involved in undertaking each activity. Direct costs attributable to a single
act¢vity are allocated dSrectly to that actlvity. Sha￿d costs which contribute to more than one
activity and support costs which are not attdbutable to a single activlty are apportioned between
those activities on a basls consSstent with the use of resources.
Expenditure on charitable activitie5 is incurred on dirertly undertaking the artivitles which further
the trust's objertive5, as well a5 any associated support Costs.
Grants payable are charged in the year when the offer Is made except Sn those cases where the
offer is conditional. such grants being recognised as expenditu￿ when the condition5 attaching
are fulfilled. Grants offere(J subject to conditions which have not been met at the year end are
noted ès a commitment, but not accnjed a5 expenditure.
All expenditure is incluslve of irrecoverable VAT.
1.4 Interest recelvable
Interest on funds held on dep051t 15 included when recesvable and the amount can be measured
reliably by the trust. this is norrnally upon notificatiorb of the interest paid or payable by the
tnstitutiorb With whom the funds ore deposited.
Page 9

THE RENEGADE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023
Accountlng policies (continued)
1.5 T*xatSon
The trust is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporatSon tax
purposes. Accordingly. the trust is potentially exempt from taxation in respect of income or
capital gaTrns received within categories covered by Chapter 3 Part I l of the Corporation Tax Act
2010 or Sertion 256 of the Taxation of Chargeable Gains Art 1992, to the extent that such
n¢ome or gains are applied exclusively to chontoble purposes.
1.6 Investments
Fixed asset Investments are a form of financial instrument and a￿ initially recognised at thelr
transactSon cost and subsequently measured at fair value at the balance sheet date, unless the
value cannot be measured reliably in which case it 15 measured at cost les5 impairment.
Investrnent galns and losses, whether realised or unrealised, are comblned and presented as
'Gainslllossesl on Snvestments. in the statement of financlal activities.
1.7 Fund •ccountlng
General Iijnds are unrestricted fvnds which are available ftsr use at the d15cretlon of the trustees
in furtherance of the general objectives of the trust and which have not been designated for other
purposes.
Investment Income* galns and losses are allocated to the approprlate fvnd,
Inv•$tm*nt Income
Unre$trl¢t•d
fundg
2023
Tot•1
tunds
2023
Deposit account Interest
Investment Income
65
65,990
65,990
66,055
66,055
Unrestricted
funds
2022
Totèl
funds
2022
Deposit account Interest
Investment income
49.184
49. 184
49, 192
49, 192
Page 10

THE RENEGADE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023
Arttvities of expenditure by expeThdlture type
2023
2022
Donations to institutions
loo,000
30,062
3,640
70,000
32,956
2,400
Support costs
Govern4nce costs
133,702
105,356
Analyslffi of gr•nts
Grants to
Instltutlons
2023
Total
funds
2023
Charitable actlvles
loo,000
loo,000
Grants to
Insiittjtions
2022
Total
funds
2022
Charttable actlvSes
70,000
70,000
The trust has made the following material 9rants to institutions durin9 the year..
Page11

THE RENEGADE FOUNDATION
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023
Analysls of 9r•nts (continued)
2023
2022
Name of Instltutlon
Fish Tank Band
Fish Tank Ltd
50,000
25,000
5,000
5,000
5,000
5,000
5,000
Clapton Common 8oy
Get Set Girls
Klds Space
Refugee Youth
Klds N, Action
Copenhagen Youth Project
St Giles Trust
2,500
50,000
5,000
5,000
2,500
2,500
2,500
Community Hub
Up'N Away
Youth on the above
The Exodus Project
loo,000
70,000
Analysls of support costs
2023
2022
Investment management charges
Investment adviser fees
Legal and professional fees
Accountancy fees
Bank fees
lQ,996
9.924
5.400
3,738
12,813
11,231
5,400
3,508
30,062
32,956
Analysi$ ot governance costs
2023
2022
Independent examiner fee5
3,640
2,400
Page 12

THE RENEGADE FOUNDATION
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023
Trustees. remtsn•ratloTh and expense5
During the year, no trustees received any remuneration or other benefits12022 - ÉNILI.
During the year ended 6 April 2023. no trustee expenses have been incurred {2022 - ENIL).
Flxed assèt Invèstments
Llsted
Investments
Cost or valuatlon
At 7 Aprll 2022
Addltions
Disposals
Revaluations
Forei9n exchange movement
2,198,112
72,172
(129,748)
(209,451)
2,041
At 6 April 2023
1,933,126
Net book v•lu•
At 6 Aprll 2023
1,933,126
At 6 April 2022
2,198,112
Taxatlon
2023
2022
Foreign tax on Income suffered
3,806
10. Debtors
2023
2022
Prepayments and accrued income
1,299
Page 13

THE RENEGADE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 APRIL 2023
11. Creditors: amounts falling due within one year
2023
2022
Accruals
11,526
18,657
12. Statèmtnt ol tunds
statement of funds - current y••r
Balance •t
7 Aprfl
2022
Balance at
6 Aprll
2023
Galnsl
(Losses)
Income Expendlture
Taxatlon
Unre•tricted
funds
General fLtnds
all funds
2,229,507
66,055
(131,660)
{3,806) (200,763) 1,959,333
st•t•m•nt ol funds - prlor year
Balance at
7 April 2021
Gains/
Balance at
{L05ses) 6 April 2022
Income Expendlture
Unr••trlct•d fund•
General funds all funds
2,221.932
49.192
(104,372)
62,755
2,229,507
13. Prior year adjustment
The tnJstees have considered the classificètion gf in¢ome and capital investment accounts within the
balance sheet. These accounts form part of the investment, and it was considered to be more
appropriate to be classified as fixed assets investments. Comparative amounts have been restated
accordingly. The effect of these adjustments Is to reduce the bank balance brought forward from
£87,258 to £48,753 and increase fixed assets investments brought foTrvard frorn E2,160,906 to
£2, 198,112.
These adjustment5 have no impact on retained earnings.
Page 14