## **Trustees’ Annual Report for The Deflog Foundation Charity number 1190840 Year ended 31 December 2023** ## **Reference and information** **Trustees Lawyers Investment Managers** E P Downey Rollits LLP Quilter Cheviot G E Clark Citadel House 2[nd] Floor C Wright 58 High Street Toronto Square J M Wells Hull, HU1 1QE Leeds, LS1 2HJ ## **Report of the Trustees** This is the third annual report of The Deflog Foundation which was registered with the Charity Commission on 13 August 2020. The Deflog Foundation is a grant making charity serving qualifying causes, as defined in the governing documents, in the East Riding and Hull areas. There are four Trustees, all of whom served throughout the period. At 31 December 2023 the Foundation had assets of £283,995. This is the remaining balance of an endowment from Deflog VQ Trust. The Trustees do not expect to receive any further funds from this or any other source. ## **Financial review** The Statement of Financial Affairs is shown on page 3. The charity made charitable donations and incurred running costs during the financial year. No payments were made to Trustees. ## **Investment policy and performance** Endowed funds have been placed in low-risk investment funds with Quilter Cheviot, an accredited financial advisor. A relatively small amount of money will be held in a bank account to allow grants to be made and expenses paid. Funds will be drawn from investments as necessary. At 31 December 2023 the funds held with Quilter Cheviot were valued at £261,826. ## **Grant awards** The Trustees plan to seek and to identify deserving causes to which grants will be made. At 31 December 2023 grants had been made to four organisations, with others identified for 2024. 1 Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a ## **The Deflog Foundation** ## **Trustees’ responsibilities in relation to the financial statements** The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and 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 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: - Select suitable accounting policies and the apply them consistently - Observe the methods and principles of the Charities SORP - Make judgements and estimates that are reasonable and prudent - State whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements, and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity 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. Approved by the trustees on 5 April 2024 and signed on its behalf by: E P Downey Chair of Trustees 2 Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a ## **The Deflog Foundation** ## **Statement of Financial Activities Year ended 31 December 2023** |**tatement of Financial Activities**
**ear ended 31 December 2023**|| |---|---| |Incoming resources
Endowment received
Change in value of
investments
Resources expended
Governance Costs
Support to organisations
Net use of / incoming resources|**31-Dec-23**
**31-Dec-22**
19,789
25,003
1,823
-7,671
-17,972
-46,976
-10,000| ||-29,644
-6,361| ## **Balance sheets 31 December 2023** |Current assets
Investments - Quilter
Cash at bank
Liabilities
Creditors
Accruals
The funds of the charity
Endowment funds|**31-Dec-23**
**31-Dec-22**
261,826
276,823
24,399
37,146
-2,230
-329
0
0| |---|---| ||283,995
313,639| ||283,995
313,639| ||283,995
313,639| Approved by the trustees on 5 April 2024 and signed on its behalf by: E P Downey Chair of Trustees 3 Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a ## **The Deflog Foundation** ## **Notes to the accounts** ## **Accounting policies** ## **Basis of preparation** The financial statements have been prepared under the historic cost convention with the exception that investments are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005 and applicable UK Accounting Standards and the Charities Act 1993. ## **Incoming resources** All incoming resources are recognised once the charity has received the money. ## **Resources expended** Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis. Grants payable are payments made to third parties in the furtherance of the charitable objects of the Foundation. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition. ## **Governance costs** Governance costs are the normal costs of running the charity and all professional fees. ## **Fixed asset investments** Investments are stated at market value as at the balance sheet date. The statement of financial activities includes net gains and losses arising on revaluation and disposals throughout the year. All investments are held via Quilter Cheviot. ## **Cash at bank** Cash at bank is held with NatWest. _End of report and accounts_ 4 Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a ## **Independent examiner's report on the accounts THE DEFLOG FOUNDATION Charity number 1190840** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2023 set out on page 3. ## **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities - Act; or - the accounts did not accord with the accounting records; or - the accounts did 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 accounts give a ‘true and fair’ view which is not a matter considered as part 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. Richard Croston ACA Manor Cottage South Newbald York YO43 4SU Date 04/29/2024 5 Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a ## Completed Document Audit Report Completed with SignWell.com ## **Title: Declog Foundation 2023 Trustee Annual Report and Accounts** Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a Time Zone: (GMT+00:00) Coordinated Universal Time ## **Files** Declog Foundation 2023 Trustee Annual Report and A.pdf Apr 29, 2024 13:30:05 UTC ## **Activity** |**[Email ID]**|**jonathon.wells@outlook.com**- created the|| |---|---|---| ||document|Apr 29, 2024| |IP: 87.102.109.140||13:30:31 UTC| |**[Email ID]**|**jonathon.wells@outlook.com**- sent the document|to| ||richard@croston.karoo.co.uk and|| ||paulandbud@icloud.com|Apr 29, 2024| |||13:32:58 UTC| |**Richard Croston**|first viewed document|Apr 29, 2024| |IP: 83.100.130.249||13:33:59 UTC| |**Richard Croston**|signed the document|Apr 29, 2024| |IP: 83.100.130.249||13:34:27 UTC| |**Paul Downey**|first viewed document|May 02, 2024| |IP: 194.207.147.178||14:42:50 UTC| |**Paul Downey**|signed the document|May 02, 2024| |IP: 194.207.147.178||14:48:59 UTC| Document ID: e94fba97-dd6f-46e8-8d2f-c79d5ab6c77a