Charity registration numbèr 1190456 Company reglstration number CE022571 (England and Wales) WICKENS FAMILY FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 WICKENS FAMILY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees R F Wickens S F Wickens R D F Wiekens Charity number 1190456 Company number CE022571 Registered officè Farr House 4 New Park Road We51 Sussex Chichester P019 7XA Independènt examiner David Knight FCA CTA Carpenter Box Piper House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX WICKENS FAMILY FOUNDATION CONTENTS Page Trustèes, rèport Independent examinerfs report Slalernenl of financial activities Balance sheet Notes lo the financial slalemenls 6-10 WICKENS FAMILY FOUNDATION TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial slalements for the year ended 31 March 2024. The financi31 statements have been prepared in accordance with the accounting policies sel out in note 1 to the financial statements and comply with the ohaiity's constitution, the Companies Act 2006 and "Awounting and Reporting by Gharilies.. Statement ol Recomrnended Practice applicable lo charities preparing their 8coounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffective 1 January 20191. Objectives and activitles The charity's objects, as stated in ils Constitution, are lo advance such charitable purposes la¢cording to the law of England and Wales) 8S the charity trustees from time to time see fil. Typically, this will see trustees awarding grants to other registered charities who provide assistance and support to disadvantaged young people and adults in the UK and worfdwide. Public benefit The Iruslees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perforniancè Significant aGlivili8s and achievements against objectives The activities supported by the charity include grant funding for projects involved in youth sport and drama in the local community,. dementia care., victims of domestic abuse,. adults with learning difficulties", the homeless., foodbanks., and projects SUPPOrting children to thiive in the toughest situation5. Financial revièw The main source ol income is dtsnations receivable. The surplus income over expenditure is £19,427. Going concern The trustees consider that there are no materia1 uncertainties about the Charity's ability lo continue as a going ooneern. Reserves policy The charitable incorporated organisalion holds cash at the bank, all of which is unrestricted funds. These funds are the balance of funds yet to be awarded accordance with the charitable objects and a reserve against unforeseen axpenses and contingencies. The total fuNd5 carried forward at the balan¢e sheet date is £218,503. Plans for future periods The trustees anticipate th81 recurring donations will be rnade to the charily from th8 same source and they intend to continue to make granl awards In line with their aims and objectives. struc￿re, governance and management The charity is incorporated as a charitable incorporated organisation IC101 and its governing document is therefore its Constitution of a Charitable Incorporated Organisation whose only voting members are ils charity trustees. The Constitution was adopted by the trustees on 13 July 2020. The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up to the date of signature of the financial statements were.. R F Wfickens S F Wickens R D F V4fickens WICKENS FAMILY FOUNDATION TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Recruitment and appointment of new turstees The initial trustees were appointed lo serve a term of two, three or four years after which they must be reappointed. New trustees may be appointed by Qrdinary Resolution of the charilablÈ incorporated organisalion hawng regard lo the skills, kllowledge and experience needed for the effective adminislralion of the charity. Rlsk management The trustees acknowledge their duty to identify and review the risks to which the charitable incotporaled or9ani58lion is exposed and lo ensLJre appropriate controls ale in place to provide reasonable assurance against fraud and error. The trustees. report was approved by the Board of Trustees. S F Wickens Trustee Date.. WICKENS FAMILY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WICKENS FAMILY FOUNDATION I report to the trustees on my Èxamination of the financial slalemenls of Wickens Family Found81ion Ilhe charity) for the year ended 31 March 2024. Responsibilities and basls of report As the Iruslees ol the charity land also ils directors for the purposes of ￿[￿paNY lawl you are responsible for the preparation of the fsnanaal statements in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Acll. Hsving satisfied myself that the financial statements of the charity are not required to be audited undeT Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the ¢haiity's financial slaletnenls carried out under section 145 of the Charities Act 2011 Ilhe 2011 Adl. In carrying out rny examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement I have completed rny examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were llol kept iri respect of the charity as required by section 386 of the 2006 A¢t", or the financia1 slalements do not accord with those re¢ords'. or the finanoial statements do not comply with the accounting requirements of seolion 396 01 the 2006 Act other than any requirement that the accounts give a true and fair wew which is not a matter wnsidered as part of an independent examination.. or the financial slalements have not been prepared in accordance with the methods and princAples of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other mattérs in connection with the examination to which attention should be drawn in this report in order to enable a propel understanding of the financial slalements to be reached. David Knight FCA CTA Carpenter Box Piper House 4 Duke5 Court Bognor Road Chichester Wesl Sussex P019 8FX 23 August 2024 Dated.. WICKENS FAMILY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unre5trict*d funds 2024 Unrestrietèd funds 2023 Notes Income from: Donations and legacies 236,114 236,114 Charitable actiwties 216,687 180,996 Net Income and movemènt in funds 19.427 55,118 Reconciliation of funds.. Fund balances at 1 April 2023 199,076 143.958 Fund balances at 31 March 2024 218,503 199,076 The statement of financial activities includas 311 gains and losse5 recognised in the year. All income and expenditure derive from continuing activities. WICKENS FAMILY FOUNDATION BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notès Current assets Ga5h at bank and in hand 219,943 200,516 Creditors= amounts falling due within one year 10 1,440 1,440 Net current assets 218,503 199,076 The funds of thè charity Unresliicted funds 218,503 199,076 218,503 199.076 The company is enlrfed to the exernplion from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting record5 and the preparation of financial stalemenls. The merrbers have not required the company to obtain an audit of ils finanaal statements for the year in question in accordance with section 476. These financial 518lements have been prepared in Accordan￿ with the provisions applicable lo companie5 subjeci to the small companies regime. The financi81 statements wore approved by the trustees o S F Wckens Trustee Company registration number CE022571 IEngland and Wales) WICKENS FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infom)ation Wickens Family Foundation is a charitable incorporated organisation ICIOI incorporated in England and Wales. The registered office is Farr House, 4 New Park Road, West Sussex, Chichester, P019 7XA. 1.1 Accounting conventio The financial statements have been prepared in 3￿rdanCe with the charitys constitution, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102,1 ar)d the Charities SORP Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their aw>unts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The chaiity has taken advantage of the piowsions in the SORP for charities not lo prepare a Statement of Cash Flows. Tre Iillancial statements are prepared in sterling, which is the functiona5 currency of the charity. Monetsry amounts in these financial statements are rounded lo the nearest £. Thè financial sl8lements have been prepared Ljnder the historical cost ¢onvention. The principal aw)unting policies adopted are set out below. 1.2 Going concem At the time of appiowng the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational Éxistence foi the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds ale available for use al the discretion of the trustees in furtherance of their charitsble objectives. Restricted funds are subject to specifi¢ conditions by donors or 9rantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the noles lo the financial Statements. 1A Income Income is recognised when the charity is legally entitled to it aftÈr any performance conditions have been met, the arrounls can be measured reliably, and it is probable that in￿rne will be received. Cash donations are récognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable i relation to donations received under Gift Aid or deeds of covenant is recognised at the time of th8 donation. The value of voluntary h8lp re￿iVed cannot be quantified and is not induded in the accounts. 1.5 Expenditure Expenditure on charitable activities comprise grant arnounls paid out in the furtherance of the charity's aims and objectives. Giants are recognised in the a¢eounts as liabilities after they have been approved by the trustee5. the recipients have been notified and there are no further terms and conditions lo be fulfilled which are within the control of the charity. In thèse cArcumstances, there is a valid expe¢tation by the rècipienls that they will re￿1ve the grant. Govemance costs comprise all costs involving public accountability of the charity and its compliance with regulation and goad practice. Administrative costs comprisè general expenditure incLJrred in the proper management and administration of the charity. WICKENS FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuèdl 1.6 Cash and ¢ash equivalents Cash and eash equivalents include CAsh in hand, deposits held at call with banks, other short-term liquid investrnenls Wlth original maturities ol three months or less, and bank overdrafts. Bank overdr3fts are showll within borrowings in current liabilities. Basic financial assets Basic financial 8$5ets, which illclude debtors and cash and bank balan￿s, are initially measured at transaction price induding transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilutes a financing transaction, where the transaction is measured 81 the present value ol the future receipts discounted al a market rale of interest. Finanual assets dassified a5 receivable within one year ale not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction Pri￿ unless the 8rrangemenl ￿nStItuteS a financing transaction. where the debt instrument is measured at the presenl value of the future payments disoounted at a market rate of Interest. Financial liabilities classified as payable within one year are llol amortised. Dèbt instrurnents are subsequently carried al amortised cost, using tha effective Inte￿St rate method. Tradè creditors arè obligations lo pay for goods or servi￿5 that have been acquired in the ordinary COLJrse of opeialions frorn suppliers. Arnounts payable are classified as current liabilities if paymènt is due within one year 01 less. 11 not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and Subsequently measured at amortised cost using the effective interest method. Detseognition of financial liabilitles Financial liabilities are deiecognised whén the chaiity's contractual obligations expire or are discharged or cancelled. 1.7 Employeè benefits The tost of any unused holiday entitlement is recognised in the period in which the employee'5 sÈrvices are re￿ived. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed lo teminale the employment of an employee or to provide temiinalion benefits. Critical accounting èstimates and judgements In the application of the charity's accounting policies. the truslees ale required lo make judgements, estirnale5 and assumptions about the carrying amount of assets And liabilities that are not readily apparent from other sources. The estimates and assouated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results rnay differ from these estim8les. The estimates and underlying assumptions ale reviewed on an ongoing basis. Rewsions to acoounting estimates are recognised in Ihe period in which the estimate is revised where the revision affects only that period, OT Ill the period of the revision and future periods where the revision affects both current and fulkjre periods. Thé trustees do not consider there are any Critical judgements or sources of estimation unceTtsinty requiring disclosure beyond the accounting policies list above. WICKENS FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacles Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts 236,114 236,114 Expenditurè on charitablè activities Awarding grants 2024 Aw8Tdiny grants 2023 Direct costs Grant funding of activitiès Isee note 51 215,098 179,391 Share of support and governance costs Isèe note 61 Support Govemanee 149 1,440 165 1,440 216,687 180,996 Analysis by fund Uniestricted funds 216,687 180,996 Grants payable Awardlng grant5 2024 Awarding grants 2023 Grants to institutions127 grants).. Other 215.098 179,391 Awarding grants The charity awards grants to other ￿gIStered charities who provide assistance and support to disadvantaged youvg people and adults in the UK and worldwide. WICKENS FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs costs 2024Support costs Govemanoe costs 2023 Bank charges Administrative expenses 149 149 115 50 115 50 Independent examiner fees 1,440 1,440 1,440 149 1,440 1.589 165 1,440 1,605 Analysed beiween Charitable 8¢tivities 149 1.440 1,589 165 1.440 1,605 Governan￿ ctssts includes payments to the accountants of £1,440 12023- £1,440) f(>r independent examination fees. Trustees None of the trustees lor any persons connected with them) received any remuneration or bÈnefits frorn the charity during the year. Employees The average rnonlh￿ number of employees during the year was". 2024 Numbar 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Taxation The IAfickens Family Foundation is a registered charity and has no liability lo corporation tax on ils tharitable activities under the Corporation Tax Act 2010 Ichapters 2 and 3 01 part ii. section 466 onwards) or Section 256 of the Taxation for Chargeable Gains Act 1992, to the exlent surpluses are applied lo ils charitable puiposes. 10 Creditors.. amounts falling due within onè yaar 2024 2023 Aceruals and deferred income 1,440 1,440 WICKENS FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Unrestricted funds The unrestricted funds ol the charity oompri5e the unexpended balances of donations and grants whioh arè riot subject to specific conditions by donor5 and grantors as to how they may be used. These include designated funds which havè been set aside out of unrestricied funds by the trustees foi specific purposes. At 1 Aprfl 2023 Incoming resources Resources At 31 March èxpended 2024 General funds 199,076 236,114 1216,6871 218,503 Previous yèar: At l April 2022 Incoming reSoU￿e8 Resources At 31 March expended 2023 General fLJnds 143,958 236,114 1180,9961 199,076 12 Related party transactions Donations receivable comprise donations of £236,114 12023". £236,114) made by Store Property Holdings Lirniled, where R F Wickens and S F Wickens are directors and the three trustees are shareholder5. Store Property Holdings Limited also makes available the use of office faoililies at no cost lo the charily. Grants tol8lling £20,00012023.. £45,000) were made lo Children on the Edgè. A Truslee of the charity is also a Trustee of Ghildren on the Edge. Those grants were made on lerms that were beneficjal lo the charily and were in line with other grants made. 10-