Charity Registration No. 1190231 THE FORRESTER FAMILY TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE FORRESTER FAMILY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees T Walker HI Porter WJ Forrester MW Jones JDR Kewley Secretary A Hollands Charlty Number 1190231 Reglstered Offlce 11 Whitecroft Way Beckenham Kent BR3 3AQ Audltor Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit street London WCIN 3GS Bankers Coutts & Co 440 Strand London WC2R OQS Solicltors Hunters 9 New Square Lincolns Inn London WC2A 3QN Keystone Law 48 Chancery lane London WC2A IJF Investment Managers Sarasin and Partners LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU
THE FORRESTER FAMILY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and tomply with the charitvs Trust deed. the Charities Art 2011 and Accounting and the Charities Ststement of Recommended Practice Isecond edition) and Financial Reporting Standards FRS 102. Objectlves and artlbrfties for the publlc benefit The trustees confirm that they have referred to the guidance contained in the Charity Commi55ions general guidance on public benefit when reviewing the trusts aims and objettives and in determining the grant making policy for the forthcoming year. The objects of the trust are to further such purposes as are deemed by the laws of England and Wales to be wholly charitable as the trustee5 may in their ab501ute discretion think fit, and in particular but not exclusively through the making of grants to registered charities. Although we are not able to beneflt the publlc directlyi we do aim to do this by virtue of the grants paKI to other charitable bodies. The charity made grants during the year of £1,421,504. Procedures arxl policy for grant maklng The Trustees meet no less than twice a year and charitable grants are paid annually. The distribution policy IS to support a specific cheritable sector and a range of national charities who are selected via the online application at www.theforresterfamilytrust.org. It is the intention of the trustees to award grants totslling £1.6m in the year to 31 March 2025. Achievements and performan Net Incoming resources after gains and10sses for the period amounted to £3,023,162. Flnancial review Stock markets across the world showed an overall improvement such that losses incurred in our portfolio during 2023 were reversed. We ntinUe to plan for the lon6 term and look forward to an improved global economic outlook. Rlsk mana8ement The major risks to whith the trust may be exposed are reviewed regu13rly and steps have been taken by the trustees to mitigate any risks identified. The principal risks faceij by the Trust lie in the performance of its investment portfollo which Is run by external fund managers where performance is reviewed regularly with professional third party assistance. Investment returns are kept under regijlar review. Investment pollcy Our investment managers are charged with achieving a long term retum and it Is at their discretion whether this is achieved by a return on investments or capital growth.
THE FORRESTER FAMILY TRUST TRusfEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Policy The Trustees policy is to make grants at such a level that does not Silficant1Y redu our a55et position. The balan held as unrestrirted funds as at 31 Marth 2024 was £43,888,101. Plans for the future We plan to support a wide range of charities in accordance with our objectives. Whibt the current global turmoil is likely to impact the total level of investment income that the Trust receives in 2025, the Trustees are confident that there are sufficient overall resour5 to meet fixed and committed costs for the foreseeable future. Strurturei governan and management The Trust was registered as a tharitable Incorporated Organisation ICIOI on 2 July 2020 under a trust deed of the same date and is a registered charity number 1190231 Under the terms of the tnjst deed, the trustees can apply both income and c3pitsI to benefit such registered charity or charities, as they in their absolute dlscretion think fit. The trustees who served during the perlod were: T Walker HJ Porter WJ Forrester Mwjones JDR Kewley The trust deed provides for a minimum of three trustee5 With no upper limit. New trustees are identified and appDinted by continuing trustees and made aware of the governing document, administrative procedures and nature of the trust. In this connection the Charity Commission booklet on the responsibilities of trustee5 is helpful and a copywould be made available to the new trustee. Key management personnel rernuneration The trustees consider the board of trustees and the secretsry as comprising the key management personnel of the charity. The trust is controlled bythe Trustees collectively 31though day to day operational matters are dealt with by the secretary, A Hollands. All trustees give their time freely and no trustee remuneration or expenses were paid in the period. Statement of trustees, responslbllltles The trustees are responsible for preparing the TrLSStees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting practi}. The law applicable to charities in England and Wales requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the trust of the incoming resources and application of resotjrces of the trust for that period.
THE FORRESTER FAMILY TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In preparing these financial statements, the trustees are required to: select Sultable accounting p)licies and then apply them conslstently,. observe the methods and principles in the Charities SORP,. make Judgements and estbmates that are reasonable and prudent; state whether applicable accountlng standards have been followed. subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it Is inapproprSate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensLsre thatthe financial statements comply with the Charities Art 2011, the applicable Charity (Accounts and Reports) Regulations 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. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dlsseminatlon of financial statements may differ from legislation in other jurisdirtions. Approved by the trustee5 and signed on their behalf by. Trustee Dated.. 5, S.F) IL iJLE-Y pte ber 2024
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FORRESTER FAMILY TRUST Opinion on finantial statements We have audited the financial statements of The Forrester Family Trust Ithe'thariWI for the year ended 31 March 2024 which comprise the Statement of Fln3ncia5 Activbties, the Balance Sheet, the Statement of cash flows and notes to the f inancial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom ACCountng Stsndards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republit of Ireland. Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We have been appolnted as auditors under section 144 of the Charities Att 2011 and report in accordance with regulations made under section 154 of that Act. We conducted our audit in accordance with International Standards on Auditing IUKI 11&45 IUKII and applicable law. Our responsibilities under those standards are further desuibed in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevantto our audit of the financial ststements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is suffitient and appropriate to provide a basis for our opinion. Conduslons relatln8 to going concern In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of accounting In the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertsinties relating to events or conditSons that, Individually or collertively. may cast significant doubt on the charivs ability to continue as a going concern for a period of at least IAvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respettto going concern are described in the relevant sertions of thls report.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FORRESTER FAMILY TRUST (CONTINUED) other inforniation The other information comprises the information included In the Trustees, Report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the Trustees. Report. Our opinion on the financial statements does not cover the other infom13tion and, we do not express anyform of assurance conclusion thereon. Our responsibility is to read the other Infomation and, in doing so, consider whether the other informètlon is materially inconsistent with the financial ststements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identlfy such materlal inconsistencies or apparent material misstatements, we are required to determine whether thi5 give5 rise to 3 material misststement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misststement of this other information, we are required to report that fact. We have nothlng to report in this regard. Matters on whSch we are required to report by exptIOn We have nothing to report in respect of the following matters vthere the Charities Act 2011 require5 US to report to you if, in our opiTrion: the infomiation Biven theTrustees' Report is inconsistent in any material respertwith thefinancial statements. or sufficient accounting record5 have not been kept- or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit. Re5ponsibilitles of trustees As explained more fully in the Statement of Trusteeg responsibilities set out on page 3, the trustees are responsible for the preparation of the flnancial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemiine is necessary to enable the preparation of finanaal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustee5 are responsible for assessing the charity's ability to continue as a going concern. disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misststemenL whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect 3 material misstatement when it ex ists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial ststements.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FORRESTER FAMILY TRUST (CONTINUED) The extent to whlch the audlt was consldered capable of detectlng Irregularltles. Includlng fraud Irregularities are instances of non-complian with laws and regulations. The objectives of our audit are to obtsin sufficient appropriate audit evidence regarding compliance with L3ws and regulations that have direct effert on the detemination of material amounts and disclosures in the financial Statements, to perform audlt prOdureS to help identify instances of non-compllance wlth other laws and regulations that may have a material effect on the financial statements, arid to respond appropriately to identified or suspected non-compliance wlth laws and regulatlons ¢dentified durinB the audit. In relation to fraud, the objectives of our audit are to identify and assess the risk of material mlsstatement of the financial statements due to fraud, to obtsin sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or susperted fraud identified during the audit. However, it is the primary responsibility of management, with the oversight of those charged with governan, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulatlons and for the preventlon and detethon of fraud. In identlfying and assessbng rlsks of material mlsstatement In respett of irregularlties, including fraud. the audit engagement team- obtsined an understanding of the nature of the sector, includlng the legal and regulatory framework, that the charity operates in and how the charity is complying with the legal and regulatory framework; inquired of managemenL and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud,. discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial ststements may be susceptible to fraud. As a result of these procedure5 we consider the most Significant laws anil regulations that have 3 direct Impact on the financlal statements are FRS 102, Charities SORP IFRS 1021, Charities Act 2011 and the charity's governlng document. We performed audit procedures to detect non-compliances which may have a material impact on the finarlcial statements which included reviewingthe financial statements includingthe Trustees, Report and remaining alert to new or unusual transactions which may not be in accordance with the governing documents. The audit engagement team identified the risk of management override of ¢ontrols as the area where the financial statements were most susceptible to material misststement due to fraud. Audit procedures performed included butwere not limited to testing manual journal entries 3nd other adjustments, evaluating the business rationale in relation to signtficant, unusual transactions and transartions entered into outside the normal course of business and challenging judgments and estimates. A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Councifs website at http:l/www.frc.or&uklauditorsresponsibilities. This description forms part of our auditols report.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE FORRESTER FAMILY TRUST {CQNTINUED) Use of our report This report is made solely to the charlty's trustees as a body. In accordance wlth the Charities Act 2011. Our audit work has been undertaken so that we might State to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charivs trustees as a body, for our audit work, for this report, or for the opinions we have formed. ROBERT SMITH (Senlor Statutory Auditorl For and on behaw of Griffin Stone Moscrop & Co, Statutory Auditor Chartered Accountants 21-27 Lamb's Conduit Street London WCIN 3GS Griffin Stone Moscrop & Co Is eli8ible to act as an auditor in term5 of sertion 1212 of the Companles Act 2006.
THE FORRESTER FAMILY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Total Unrestrlcted Funds 2023 2024 Notes Income from: Investments Net Profit on Investments 1,346,402 3,201,158 1,292,991 Expenditure on: Charitable activities Net loss on investsnents Net movernent in furMIs 11,524,398) 11,668,544) 12,550,855] 12,926,408) 3,023,162 Totsl funds brought forward at l April 2023 Unrestricted funds Endowmentfunds Total fund5 carried forward at 31 March 2024 40,864,939 18,796,736 24,994.611 40,864.939 43,888,101 In the prior year, funds previously described as Endowment Funds were confirmed to be Unrestricted. Upon review of our Trust Deed and those of our predecessor Trusts IThe Gwyneth Forrester Trust and The Donald Forrester Tnjstl our lawyers advised that we should amend our accounting treatment thereof. All income and expenditure above is from Unrestricted Funds. The statement of financial activities includes all gain5 and losses recognlsed In the perlod. All Income and expenditure derive from continuing activities.
THE FORRESTER FAMILY TRUST BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Note5 Flxed assets Investments 43,422,178 1.172 43,423,350 40.066.249 209 Tangible assets 40.066.458 Current a$5et5 Debtors 35.359 463,508 498,867 71.815 741,418 813,233 Cash at bank and In hand Credltors: amounts fallln8 due wh1 one year 134,1161 114,7521 Net cvrrent a55ets 464,751 798.481 Total assets less current Ilabllltles 43,888,101 40,864,939 Funds Unrestritted fund 43,888,101 40,864,939 Total fvnds 43,888,101 40,864,939 th The financial statements on pages 8 to 21 were approved by the Trustees on 5 September 2024. Trustee
THE FORRESTER FAMILY TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash fiowsfrom operatlng actSvllJes Cash used in operations li 11,468.1171 11.613.1881 In¥estlng a¢tlv6tles Purchèse of Investments Inetl Fixed assets 1154.7711 11,4241 1,346,402 1108.3341 InveStMt income received 1,292,991 Net cash generated by {u5ed inll from investir activIe5 1,190,207 1,184,657 Net incTea5el Idecrease) In cash cash eguivalents 1277,9101 1428,5311 Cash and cash equivalents at beginning of period 741,418 1,169,949 Cash and cash equl¥alents at •nd of perlod 463,508 741,418 io-
THE FORRESTER FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty Informatlon The Forrester Family Trust 15 a Charitable Incorporated Or8anisation registered in England and Wales. The principal address Is 11 Whitecroft Way, 8eckenham, Kent BR3 3AQ. The charitys objertives and aims are disclosed in the Trustees report. Accountlng conventlon The financial statements have been prepared under the historical cost convention with items recognised at cost or transartion value unless otherwise stated In the relewant notes to these accounts. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 Isecond edition effectlve l January 20191 Charities SORP IFR51021, the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The charity constitutes a publlc beneflt entlty as defined by FRS 102. The financial ststements are prepared in sterling. which 15 the functional ajrrency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Going concern The trustees consider the charity to have adequate unrestricted reserve5 to meet its fixed costs for the foreseeablefuture. Therefore considerthe going concern basis of ac¢ounting in preparing the financial statements to be appropriate. Income reColtIOn Income is recognised when the charlty Is legally entitled to tt after any performance conditions have been met, the amounts Can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notlfled of the don2tion, unless performance conditiorss require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deed5 of covenant is re¢ognised at the time of the donatic*). Investment income is recoEnised when receivable. li-
THE FORRESTER FAMILY TRUST NOTESTO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AOuntIng policie5 (Continued) Expenditure recognition Expenditure is recognised on an accruals basLs as a liability is Incurred. Expenditure includes any VAT which cannot be fLtlly recovered, and is reported as part of the expenditure to which it relates. Grants payBble are payments made to third partie5 in the furtherance of the charitable objectives of the Trust. Grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant or the trustees h3ve agreed to pay the Erant without condition. The provision of multi-year grants is recognised when settlement is due over more than one year from the date of the award, there are no unfulfilled performance conditions under the control of the Trust that would permit the Trust to avoid making the future paymentlsl and settlement is probable. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allo(2ted directly to such artivities and those costs of an indirert nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the tharity and include the audit fees and costs linked to the strategic management of the charity. These have been allocated in fvll to expenditu re on charitable activities. All costs are allocated between the expenditure categories of the SOFA a basis designed to reflert the kjse of the resource. Tangible Fixed As5etS Tangible fixed assets are initially measured at cost and subsequently measured at COSt, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets over their usefijl lives on the following basis: Office Equipment 25% Straight line. At each reporting period end date, the charity reviews the carrying amount of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Flxed asset Investments Llsted investments are ststed at market value at the balance sheet date. Any realised or unrealised galn or Ioss on investments 15 taken to the Ststement of Financial Activities ISOFAI. Unlisted investments are recognised in the financial statements using the equity method of accounting. They are ststed at the charivs share of the net assets of the relevant unlisted company. Any reallsed or unrealised Bain or loss on Investments Is taket) tothe SOFA. All reallsed 12-
THE FORRESTER FAMILY TRUST NOTESTO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Icontlnued) and unrealised 8ains or losses are allocated between funds based on the spllt when the investments were initially donated to the charity. Cash and ¢ash equlvalents Cash and cash equivalents include cash in hand. deposits held at call with banks and other short- term liquid investments with original maturities of three months or les5. Financial instruments The charity has elected to apply the provlsions of Sertion 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments IssL¢es' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contrartual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there IS B legally enforceable rightto set off the recognised amounts and there is an intention to settle on a net basis orto realise the a55et and settle the liability simultaneoLt51y. Basi¢ flnancial assets Basic financial assets, which include amounts due from subsidiary undertakings, other debtors, prepayments and cash and bank balances, are initially measured at transaction price including transartion costs and are subSequenY carried at amortlsed cost using the effective interest method unless the arrangement nStituteS a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Impairment of flnanclal assets Financial assets, other than those held at fair value through intome and expenditure, are assessed for indicators of impairment ateath reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognltlon of the flnancièl asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the differente between the carrying amount and the presentvalue of the estimated cash flows discounted atthe asset's original effective interest rate. The impairment10ss Is recogni5ed in net income/lexpenditurel for the year. If there is a decrease in the impairment loss arisingfrom ar¢ event occurrin8 after the impairment was recOgned, the impairment Is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impaimient not previously been recognised. The impaiment reversal is recognised in net income/lexpenditurel for the year. 13-
THE FORRESTER FAMILY TRUST NOTESTOTHE FINANCIALSTATEMENTS (coMfiNUEDI FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies {Contlnuedl Derecognltlon of flnanclal assets Financial assets are derecognised only when the contrartual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some signrficant risks and reward5 of ownership are retained but control of the asset has transferred to another party that able to sell the asset in its entirety to an unrelated third party. Liabilities Liabilities are recognised when the charity has a present obligation arising ffom past events. Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitsble objettives unless the funds have been designated for other purposes. Investments Unrestrlrted Funds 2024 Unrestrlrted Fund5 2023 Income from Ilsted investments Other income Interest receivable 1.187.565 140.689 18,148 1,346.402 1.149.442 138,050 5,499 1.292.991 Expenditure on chwitable actlvitles 2024 2023 Grants 1.421.504 102,894 1.561.555 106.989 gjpport and governan costs 1,524,398 1,668,544 Expenditure on charitable artivities was all attributsble to unrestricted funds. 14-
THE FORRESTER FAMILY TRUST NOTESTO THE FINANCIAL STATEMENTS IcoNfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Analysi5 of expenditure on charftable artivities 2024 2023 Grants Disaster Rdief loo,000 250,000 597.098 474.406 1,421,504 150,000 250,000 699,440 462,115 1,561,555 Term Funding Theme of the Year Smaller Grants Support and Governan costs Employment costs Audrtors remuneration Website Legal and Professional fees 9Jbscriptions Office costs 75,935 10,500 1.599 1.$54 2,489 10.817 102,894 75,713 14,720 1,621 1,060 2,997 10,878 106,989 Remuneratlon of employees and key management personnel The CharSty considers 5ts key management personnel cornpre the Trustees and the Administrative stsff. The total employment benefits including employer pension contributions of the key management personnel were £75.93512023.' £75,713). No employees had benefits in excess of £60,0(X) lin either 2024 or 20231. Trustees received no remuneration or reimbursed expenses during the period. Staff detsils 2024 2023 Numberofstsff Salaries 71.888 7.308 15,0001 1,739 75,935 70,903 7,671 15.0001 2,139 75,713 Social Security cost5 Employment Allowance Pension costs Is-
THE FORRESTER FAMILY TRUST NOTESTO THE FINANCIAL STATEMENTS IcoNfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Flxed asset investments Listed Unllsted Total Snvestments investments Cost Orvaatron At l April 2022 Additions Valuation Ilossl 42,503,283 108.334 12,550,855) 5.487 42,508,770 108,334 12,550,855) At 31 March 2023 40.060.762 172,409 3,189,(X)7 5,487 15.4871 40,066,249 166,922 3,189.007 Additionsl (Disposals) Valuation 8ain At 31 March 2024 43,422,178 43,422,178 2024 2023 Investments at fairvalue comprise- Flxed Income 5,378,382 31.804,106 1,546,399 2,980,098 1.713.193 5.952,540 26.506,795 1,773,960 4,958,098 869,369 5,487 40,066,249 Equities Property Altematyve investments Ltquid assets Unlted investments 43,422.178 Fixed asset investments Listed Investments are rettjgnised on the basi% of market value at the reporting date. The hlstorltal cost of these investments is £41,904,62412023 £41,750,053). 16-
THE FORRESTER FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tan8lble tlxed assets 2024 Cost As at I"April 2023 Additions 419 1.424 1,843 As at 31° March 2024 Depredatlon As at I"April 2023 Charge for the year As at 31 March 2024 210 461 671 Net book value As at I"April 2023 As at 31 March 2024 209 1,172 Debtors 2024 2023 Amounts falllng due wlthin one year: Amounts due from subsldlary undertaklngs Prepayments and accrued income 5,095 66,720 71.815 35,359 35,359 Credbtors: amounts fallln8 due wlthln one year 2024 2023 Grants Other tsx and social security Acuuals and deferred income 16,000 6,368 11,748 34,116 4.756 9,996 14.752 17-
THE FORRESTER FAMILY TRUST NOTE5 TO THE FINANCIAL STATEMENTS IcoNfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 io Taxation The Forrester Family Tnjst is a registered charity, and as such its income and gains falling within Sections 471 to 489 of the Corporation Tax Act 2010 or Section 256 Taxation and Chargeable Gain5 Act 1992 are exempt from corporation tax to the extent that they are applied to its charitsble oblectives. li Cash generated from operations 2024 X123 SUrplu{DeflCitj fDr the perlod 3,023,162 12,926,408) Adjustments for: Investment income recogllised In statement Df financial artiirities Fairvalue (gains) and losses on investments Depreciatio 11,346,402) 13,201,158) 461 11,292,9911 2,550,855 105 Movements in working capital- Decreèse in debtor5 36.456 19.364 52,187 3,064 Increase in creditors Cash generated (used Inl/from operatlons 11,468,117) 11,613,188) Related party transactions Rental payments of £3,60012023.. £3,600) were made to A. Hollands, an employee. There wa5 no balance outstanding at the year end or prior year end. 13 Charltable yants The amount payable in the period comprises.. DISASTER REUEF British Red Cr055.' Israel and Occupied Palestinian Territory Appeal British Red Cross.. Morocco and Libya Appeal Britlsh Red Cross.. Ukraine Crisls Appeal 25.000 50.OCN) 25,OLXJ 18-
THE FORRESTER FAMILY TRUST NOTESTOTHE FINANCIALSTATEMENTS (coplNVEDj FOR THE YEAR ENDED 31 MARCH 2024 TERM FUNDING Bowel Cancer UK Cathedral Archer Project Cellar Trust 25,000 25,000 25,000 10,000 25,000 25,000 25.000 15,000 25,000 25,000 25,000 250AIOO CherryTrees Children and Families Across Borders Dealblind UK Future Frontiers HOPE International Development Agency Tempus Nov Time and Talents Associatlon World &cycle Relief UK THEME OFTHEYEAR Age UK Doncaster 8ack on Track Manchester Ba55etlaw Food Bank 20,000 15,000 20,000 25,000 Beyond Food Foundation Child Rescue Nepal Cirele Community Ltd Communrty Initiatives &)uth West ItradinB as Fareshare South Westl Disability Advice servi IEast &Jffolkl EducAid Sierra Leone EMERGE 3RS FEAST With Us Feeding Families Fellowshlp of St Nicholas. The IFSNI First Love Foundation Hèndson London Hibiscus Initiatives Housin8 the Homeless Central Fund James, Place Charity Kids Club Kampala Laughter Africa Leed5 Children's Charf(yat LFneham Farm ghthouse Furniture Project lullaby Trust, The Made In Hackney Menscraft Mums in Need National House Project, The 15,000 25,000 14,098 15,OCM) 15,000 20.000 25,000 20.000 25,000 3,000 15.000 10,000 25,000 15,000 15,000 15,000 15.000 25,0 20,CX)O 15.(X)O 20.LL)O 25,QKJO 19-
THE FORRESTER FAMILY TRusr NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Charltable &rants {Continued) THEME OFTHEYEAR Oakleaf Enterpre One25 Parochial Church Council of the Ecclesiastical Parish of St Aldhelm, Edmonton, The Porch, The Practical Tools Initiative Refreshing Minds St Davids Diocesan Council for &)cial Responsibility 10,000 20,000 15,CM)O 10.000 25.000 15,000 25.000 597,098 SMALLER GRANTS A Spark in the Dark Ltd AdAmi Projert Bringing Word5 to fe British Thyroid FOUndaOn Capital PrDjert Tnjst Communf£y Kitchen Imanthesterl Ltd Crohn's and Colitis Relief Daisies Kid5 Club 10,000 5,000 7.500 7,500 1,500 10,000 10,000 10,000 5,000 Dog Assistance in Oisability Everton and Anfield Together Evie's Gift CIO 10,000 5,000 5,000 5.000 10.000 6.324 6,500 lo,0 io.wo io,coo 10.000 10,000 4,500 10.000 Exit Foundation Flute Theatre Foreland Fields Charlty Forever Angels Framlingham Area Youth Action Partnershlp Fusion Family and Youth Projects Futures Theètre Cornpanv Gifted Women Headway Hertfordshire Ltd He3hS Trust HearTogether Home-start Cambridgeshire Home-start Mansfield -20-
THE FORRESTER FAMILY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Charitable yants Icontlnuedl SMALLER GAANTS Icontlnuedl Indi80 Volunteer5 Jacaranda UK Foundatlon io,coo 5,000 6,000 13,548 10,000 iO,OLXJ 10.0 10,OOD 3.000 10,000 2,000 10,000 10,000 4.750 10,000 10,000 3.500 8,000 S,)0 iO,LXJO io,cKJo io,rx)o io.oxjo 8,440 Keep Talking Services Kent Enterprise Trust Kivuli Trust Llghtwave Communtty CIO, The Local Village Network London Nightline at ULU Makhad Trust. The Meseret For Women MOVE Partnership, The New Mills and Distrirt Volunteer Centre One Community Development Trust Ospreys Wheelchair Rugby Club Pelican Parcels Plant Your Future Reseed Rethink Rebusld SOcty Rhino Ark UK Rise..61 Rosie's Comer Rulslip Northwood Old Folks Association Shurdingron Community Centre Sid(le Cell Care manChter Sixty-one Sound Minds Sporting Cha11en8e Spread Some Sunshine STAA iO,OL io,o(x) I,ocKJ STAR (Student Action for Refugees) Tarka Child Contart Centre Together Now Triangular CIO UK Veterans Hvdring FoundalTron Victoria's Promise Worldwide Radiology Yeovll Shopmobillty Young People's Shop io,ocx) iO,OLXJ 10,0 iO,OCM) 2,OQMJ 1,5(Kl 474,406 -21-