**REGISTERED COMPANY NUMBER: 12597334 (England and Wales) REGISTERED CHARITY NUMBER: 1190986** ## **Report of the Trustees and** **Unaudited Financial Statements for the Period 12 May 2020 to 31 May 2021** **for** ## **THE TALLULAH LEWIS FOUNDATION LIMITED** **THE TALLULAH LEWIS FOUNDATION LIMITED** **Contents of the Financial Statements for the period 12 May 2020 to 31 May 2021** **----- Start of picture text -----**
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Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 7
Detailed Statement of Financial Activities 8
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**Report of the Trustees for the period 12 May 2020 to 31 May 2021** ## **THE TALLULAH LEWIS FOUNDATION LIMITED** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 12 May 2020 to 31 May 2021. The trustees have adopted the provisions of Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019). ## **INCORPORATION** The charitable company was incorporated on 12 May 2020. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Charity's purposes set out in the Articles of Association are the relief of financial hardship among young people living or working in the UK and overseas by providing goods, services or education which they could not otherwise afford through lack of means; making grants of money for providing or paying for items, services or facilities, and the relief of young sick-poor living in the UK and overseas through the provision of grants, goods or services. ## **Significant activities** This is the first year of operation of the charity and its fundraising activities and donation objectives are being developed by the trustees. ## **Grantmaking** The charity has made a number of grants during the year, and is actively reviewing unsolicited applications for grants that is has received. ## **FINANCIAL REVIEW** ## **Financial position** The financial position of the charity is very satisfactory and it has £190,000 available for grants. ## **Reserves policy** The charity has no overhead cost and therefore no working capital need. The whole of the unrestricted funds are available for grant. The trustees are actively reviewing applications made to it for grants and aim to distribute funds by way of charitable grants in the near future. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, the articles of association, and constitutes a limited company limited by guarantee, as defined by the Companies Act 2006. ## **Organisational structure** The directors of the company, of which there shall be a minimum of three, are also charity trustees for the purposes of charity law. At the first annual general meeting all the directors must retire from office unless by the close of the meeting the members have failed to elect sufficient directors to hold a quorate meeting of the directors. At each subsequent annual general meeting one-third of the directors or, if their number is not three or a multiple of three, the number nearest to one-third, must retire from office. If there is only one director he or she must retire. The directors to retire by rotation shall be those who have been longest in office since their last appointment. If any directors became or were appointed directors on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot. Page 1 ## **THE TALLULAH LEWIS FOUNDATION LIMITED** ## **Report of the Trustees** **for the period 12 May 2020 to 31 May 2021** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 12597334 (England and Wales) **Registered Charity number** 1190986 ## **Registered office** Driftstone Manor Middleway Kingston Gorse East Preston West Sussex BN16 1SB ## **Trustees** A Lewis (appointed 12.5.2020) J E Hawkes Company director (appointed 12.5.2020) C M Hawkes Company director (appointed 12.5.2020) R P Lewis Company director (appointed 2.9.2020) Approved by order of the board of trustees on 2 November 2021 and signed on its behalf by: R P Lewis - Trustee Page 2 **Independent Examiner's Report to the Trustees of The Tallulah Lewis Foundation Limited** ## **Independent examiner's report to the trustees of The Tallulah Lewis Foundation Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the period 12 May 2020 to 31 May 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles 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 (FRS 102)). 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. M Lewin 2 November 2021 Page 3 ## **THE TALLULAH LEWIS FOUNDATION LIMITED** ## **Statement of Financial Activities** ## **for the period 12 May 2020 to 31 May 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
**Charitable activities**
Donations|Unrestricted
fund
£
200,000
10,000| |---|---| |**NET INCOME**|190,000| |**TOTAL FUNDS CARRIED FORWARD**|190,000| The notes form part of these financial statements Page 4 ## **THE TALLULAH LEWIS FOUNDATION LIMITED** ## **Balance Sheet 31 May 2021** |Notes
**CURRENT ASSETS**
Cash at bank|Unrestricted
fund
£
190,000| |---|---| |**NET CURRENT ASSETS**|190,000| |**TOTAL ASSETS LESS CURRENT LIABILITIES**|190,000| |**NET ASSETS**|190,000| |**FUNDS**
3
Unrestricted funds|190,000| |**TOTAL FUNDS**|190,000| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2021. The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 2 November 2021 and were signed on its behalf by: R P Lewis - Trustee C M Hawkes - Trustee The notes form part of these financial statements Page 5 **THE TALLULAH LEWIS FOUNDATION LIMITED** **Notes to the Financial Statements for the period 12 May 2020 to 31 May 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the period ended 31 May 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the period ended 31 May 2021. continued... Page 6 **THE TALLULAH LEWIS FOUNDATION LIMITED** ## **Notes to the Financial Statements - continued for the period 12 May 2020 to 31 May 2021** ## **3. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At
in funds
31.5.21
£
£
190,000
190,000
190,000
190,000
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
200,000
(10,000)
190,000
200,000
(10,000)
190,000| |---|---| **4. RELATED PARTY DISCLOSURES** During the period, the charity received a donation from Speed Group (Holdings) Ltd of £200,000. R P Lewis and C M Hawkes are directors of Speed Group (Holdings) Ltd. Page 7 **THE TALLULAH LEWIS FOUNDATION LIMITED** ## **Detailed Statement of Financial Activities for the period 12 May 2020 to 31 May 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Grants to institutions
Total resources expended
**Net income**|£
200,000
200,000
10,000
10,000
190,000| |---|---| This page does not form part of the statutory financial statements Page 8