Charity number: 1190612
THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Unaudited annual report
Year ended 31 December 2022
THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
CONTENTS
| Page | |||
|---|---|---|---|
| Reference and administrative details of the Charity | 3 | ||
| Report of the Trustees | 4 | ||
| 7 | |||
| Statement of Financial Activities | 8 | ||
| Balance Sheet | 9 | ||
| Statement of Cash | Flows | 10 | |
| Notes to the Financial Statements | 11 |
THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Reference and administrative details of the Charity for the financial year ended 31 December 2022
Trustees
Mr J M B Cayzer-Colvin Mr A J F Wildman Mr C J Hodges Mrs A M McNeill (appointed 29 September 2022) Mrs K M Burwood (retired 27 April 2022)
Registered office The Caledonia Investments Charitable Foundation Cayzer House 30 Buckingham Gate London SW1E 6NN Registered charity number 1190612 Bankers National Westminster Bank 169 Victoria Street London SW1E 5NA Solicitors Currey & Co LLP 33 Queen Anne St London W1G 9HY Independent Examiner Glen Bott FCA Cooper Parry Group Limited Argosy Road East Midlands Airport Derby DE74 2SA
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THE CALEDONIA INVESTMENT CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES
for the year ended 31 December 2022
The Trustees present their report together with the financial statements of The Caledonia Investments Foundation year to 31 December 2022. The Trustees confirm that the report and financial statements of the Foundation comply with the Charities Act 2011, the SORP preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Structure, governance, and management
The Foundation is a charitable trust, governed by a Trust Deed dated 1 June 2020 and established by Caledonia The Foundation was initially registered as The Caledonia name was changed.
Method of appointment or election of Trustees
The management of the Foundation is the responsibility of the Trustees, appointed by Caledonia, or such other persons as Caledonia may revocably or irrevocably appoint. It is intended that the nd that Trustees should be available to serve an initial term of three years, which can be extended for two further terms of three years.
Objectives
Policies and objects
The objects of the Foundation are to provide grants:
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(a) to eligible applicants in significant financial hardship as a consequence of the Covid-19 pandemic including current and recent former employees, their immediate families or dependents, or other individuals with a strong connection with any Caledonia investee company nvestee Company
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(b) to other charities and charitable causes as considered appropriate by the Trustees.
In setting the grant making policy, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
Grant making policies
When providing grants to other charities and charitable causes, the Foundation has prioritised those charities where there is:
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direct engagement with a member of Caledonia staff, for example a donation to a cause where an employee has already raised funds or provides voluntary services;
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a connection with an Investee Company or wider portfolio investment, for example to support a charity selected by the employees of an Investee Company or to support the local community in which the Investee Company operates;
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in
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the vicinity of Cayzer House;
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multi-year projects where the Foundation could engage with a charity for three or more years, thus allowing the recipient charities to make substantial and lasting impact.
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THE CALEDONIA INVESTMENT CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (continued)
Achievements and performance
Review of activities
The Foundation brought forward £43,782 into the financial year ended 31 December 2022 and received income of £250,000 from Caledonia and a further £40,000 from a separate source. During the year, the Foundation made grants totalling £326,350 to support various activities at multiple charities. The Foundation committed to substantial multi-year donations to the following charities:
- The Cornwall Community Foundation to support various community projects in Cornwall and the Isles of Scilly; and
The Maritime Volunteer Service to assist in the protection and perseverance life and property within the maritime environment, in addition to advancing the education and training of members in all aspects of maritime and communication skills.
During the year, additional payments of £75,000 were made to The Cornwall Community Foundation and The Maritime Volunteer Service respectively as part of these multi-year donations.
The Foundation also approved a single donation of £10,000 to support a fundraising event held by -year donation. Horatio's Garden creates and nurtures beautiful gardens in NHS specialist centres to support everyone affected by spinal injury.
The Foundation also made substantial one-off donations to:
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the Disasters Emergency Committee, a group of UK charities which coordinate and launch collective appeals to raise funds to provide emergency aid and rapid relief to people caught up in disasters and humanitarian crises around the world, in response to the humanitarian crisis in Ukraine;
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Greggs Foundation pupils and families;
Big Yellow Foundation, a grant giving organisation working with seven smaller charities that support vulnerable people including ex-offenders, refugees, ex-service personnel and people living with disabilities, to find employment and create a better future for themselves;
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The Quinnian Trust, a charity which supports young people in leisure activities, promoting selfreliance, resourcefulness and a sense of responsibility for others, with particular emphasis placed on those who are physically disadvantaged and on activities associated with maritime pursuits;
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SeeAbility (the operating name of The Royal School for the Blind) to provide funding to the Ready, Willing and Able programme which aims to help people with learning disabilities, autism and sight loss to find paid work and build meaningful and long-lasting careers; and
Joshua Orphan and Community Care to cover the cost of running a feeding programme for 774 children across 15 community based childcare centres in rural Blantyre, Malawi, for a year.
Smaller donations were also made to other charities which were supported by Caledonia employees, including various fundraising activities. These included the Great North Run, Shine Night Walk, Le Cure de France and a charitable golf tournament.
Investment policy and performance
The Trust Deed permits the Trustees, in their absolute discretion, or any appointed investment advisors, to invest in any investment, securities or property, as it thinks fit. At 31 December 2022, no money had been invested by the Foundation.
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THE CALEDONIA INVESTMENT CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (continued)
The Foundation has not currently invested any funds. Before any investments take place, an investment policy would be developed and approved by the Trustees.
Financial review
During the year ended 31 December 2022, the Foundation received unrestricted donation income totalling £290,000 and paid charitable grants totalling £326,350.
At 31 December 2022, the Foundation had total unrestricted funds carried forward of £6,925.
Reserves
The Foundation does not currently have a reserves policy. As Caledonia provides the Foundation with annual funding, and the Trustees regularly review the balance available to them, including any anticipated future donations to be considered and other costs, a reserves policy is not considered necessary.
Plans for the future
Future developments
It is intended that additional funds will be made available by Caledonia to the Foundation annually to enable it to consider and approve further donations to the charities already supported by the Foundation and other charitable organisations as the Trustees see fit.
Trustees Responsibilities
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently; observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Foundation and taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was reviewed and approved by the Trustees on ______ 2023 and signed on their behalf by:
_______ Jamie Cayzer-Colvin Chairman of the Trustees
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 8 to 13.
Responsibilities and basis of report
I and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
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of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
GLEN BOTT FCA Cooper Parry Group Limited Sky View Argosy Road East Midlands Airport Castle Donington Derby DE74 2SA
Date: 13 April 2023
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Statement of Financial Activities
For the year ended 31 December 2022
| Notes INCOME FROM Donations 2 TOTAL INCOME EXPENDITURE ON Grants 3 Charitable activities 4 TOTAL EXPENDITURE NET MOVEMENT IN FUNDS TOTAL UNRESTRICTED FUNDS as at 1 January 2022 TOTAL UNRESTRICTED FUNDS as at 31 December 2022 |
2022 £ 290,000 290,000 326,350 507 326,857 (36,857) 43,782 _ 6,925 _ |
2021 £ 490,813 |
|---|---|---|
| 490,813 | ||
| 429,525 17,506 |
||
| 447,031 | ||
| 43,782 _ _ 43,782 _ |
The notes on pages 11 to 14 form part of these financial statements.
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Balance Sheet As at 31 December 2022
| Note CURRENT ASSETS Cash at bank CURRENT LIABILITIES Accruals 6 NET ASSETS CHARITY FUNDS Unrestricted funds 8 TOTAL FUNDS |
2022 £ 22,425 (15,500) 6,925 6,925 ______ 6,925 |
2021 £ 43,782 _ |
|---|---|---|
| 43,782 | ||
| 43,782 __ 43,782 ____ |
The financial statements were approved by the Trustees on _______ 2023 and signed on their behalf by:
______ Jamie Cayzer-Colvin
Chairman of the Trustees
The notes on pages 11 to 14 form part of these financial statements.
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Statement of Cash Flows
For the year ended 31 December 2022
| Notes Cash flows from operating activities: Net cash (used in)/ provided by operating activities Net cash provided by operating activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Cash provided by operating activities Net cash (used in)/provided Increase in creditors |
2022 £ (21,357) (21,357) (21,357) 43,782 22,425 (36,857) 15,500 |
2021 £ 43,782 |
|---|---|---|
| 43,782 | ||
| 43,782 - |
||
| 43,782 | ||
| 43,782 - |
||
| (21,357) | 43,782 |
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Notes to the Financial Statements For the year ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparation of financial statement
The financial statements have been prepared in accordance with the Statement of Recommended accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and applicable regulations.
The accounts have been prepared under the historical cost convention with items recognised as cost or transaction value unless otherwise stated in the relevant note(s) to the accounts.
The trust constitutes a public benefit entity as defined by FRS 102.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity has entitlement to the funds, after any performance conditions have been met, the amount can be measured reliably, and it is probable the income will be received.
Resources expended
Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.
Grants payable to third parties are within the charitable objectives. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional on a future event. Grants offered subject to conditions which have not been met at the year-end are noted as commitments but not accrued as expenditure.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
2. Donations
| Unrestricted funds | Unrestricted funds | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Caledonia Investments plc | 250,000 | 490,813 |
| Other donations | 40,000 | - |
| __ | _ | |
| 290,000 | 490,813 | |
| __ | _ |
3. HARDSHIP GRANTS TO EMPLOYEES FROM INVESTEE COMPANIES
| Unrestricted funds | Unrestricted funds | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Buzz Group | - | 146,889 | |
| Cooke | Optics | - | 1,851 |
| Deep Sea Electronics | - | 10,035 | |
| Liberation Group | - | 1,750 | |
| _ | _ | ||
| - | 160,525 | ||
| _ | _ | ||
| GRANTS TO INSTITUTION | |||
| Unrestricted funds | Unrestricted funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| 10,000 Black Interns | 10,000 | - | |
| 40Tude Curing Colon Cancer | 1,000 | 1,000 | |
| Alzheimer's Society | 1,000 | 1,500 | |
| Bookmark Reading Charity | 1,000 | - | |
| Bristol Mind | - | 2,000 | |
| British Red Cross | 500 | - | |
| Cancer Research UK | 1,000 | - | |
| Cornwall Community Foundation | 95,000 | 75,000 | |
| DEC Ukraine Appeal | 5,000 | - | |
| Founders4Schools | 1,000 | - | |
| Greggs Foundation | 12,500 | - | |
| Grove House Hospice | - | 1,000 | |
| Guy's | and St Thomas' Hospital | - | 50,000 |
| Hastings International Piano | - | 1,000 | |
| Heritage of London Trust | - | 10,000 | |
| 60,000 | - |
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Notes to the Financial Statements (continued)
| Joshua Orphan and Community Care | 20,000 | - |
|---|---|---|
| Lotus Outreach UK | 2,500 | - |
| Macmillan Cancer Support | - | 500 |
| Maritime Volunteer Service | 75,000 | 75,000 |
| Momentum Children's Charity | - | 1,000 |
| Northern Ireland Hospice | 500 | - |
| Place2Be | 1,000 | - |
| Queen's Green Canopy | - | 50,000 |
| Rennie Grove Hospital | 1,000 | - |
| Royal Marsden Hospice Care | 1,000 | - |
| SeeAbility (The Royal for the Blind) | 14,500 | - |
| South East and Essex Central Mind | 1,000 | - |
| Southampton Master Mariners Club | 350 | - |
| The Big Yellow Foundation | 10,000 | |
| The Mental Health Foundation | - | 1,000 |
| The Quinnian Trust | 5,000 | - |
| The Seafarers Charity | 2,000 | - |
| The Ulysses Trust | 2,500 | - |
| Tommy s |
1,000 | - |
| Tree of Hope | 1,000 | - |
| _ | _ | |
| 326,350 | 269,000 | |
| _ | _ | |
| 4. OTHER CHARITABLE EXPENDITURE |
| Unrestricted funds | Unrestricted funds | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Administration expenses | 507 | 17,506 | |
| ______ | ______ | ||
| 507 | 17,506 | ||
| ______ | ______ | ||
| 5. | NET INCOMING RESOURCES | ||
| During the year, no Trustees received any remuneration. | |||
| During the year, no Trustees received any benefits in kind. | |||
| During the year, no Trustees received any reimbursement of expenses. |
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THE CALEDONIA INVESTMENTS CHARITABLE FOUNDATION
Notes to the Financial Statements (continued)
6. OTHER PAYABLES EXPENDITURE
| Unrestricted funds | Unrestricted funds | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Accruals | 15,500 | _ |
| ______ | _____ | |
| 15,500 | _ | |
| ______ | _____ |
7. GRANT COMMITMENTS
In accordance with the grant making policies, the Foundation can commit to multi-year grants which are subject to annual confirmation from the Trustees prior to the grants being made. As at the 31 December 2022, future commitments, that are subject to annual confirmation, totalled £300,000 including £225,000 that would become payable in 2023 and £75,000 that would become payable in 2024. These future commitments will be recognised as grants in the year they are confirmed and paid.
| Brought | Incoming | Resources | Carried | ||
|---|---|---|---|---|---|
| Forward | resources | Expended | Forward | ||
| £ | £ | £ | £ | ||
| 8. | STATEMENT OF FUNDS | ||||
| Unrestricted funds | |||||
| General funds | 43,782 | 290,000 | (326,857) | 6,925 |
9. RELATED PARTIES
There were no related party transactions during the year.
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