THE HAINSFORD CHARITABLE FOUNDATION ANNUAL REPORT & ACCOUNTS FOR
THE YEAR ENDING 31 DECEMBER 2023
Registered Charity Number : 1191315
Edmund Carr LLP Chartered Accountants 146 New London Road Chelmsford
Essex CM2 OAW
THE HAINSFORD CHARITABLE FOUNDATION FINANCIAL STATEMENTS
THE YEAR ENDING 31 DECEMBER 2023
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CONTENTS PAGE
Charity information 1
Trustees' report 2
Independent Examiner's report to the Trustees 4
Receipts and payments 5
Statement of assets and liabilities 6
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THE HAINSFORD CHARITABLE FOUNDATION
CHARITY INFORMATION
THE YEAR ENDING 31 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE INFORMATION
Charity Name The Hainsford Charitable Foundation Charity Number 1191315 Registered Office 14 Walpole Street London SW3 4QP Settlor Dr Charles Rose Trustees Dr Charles Rose Marie Heesom Independent Examiner Sandra Morrell FCCA Edmund Carr LLP 146 New London Road Chelmsford Essex CM2 0AW
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THE HAINSFORD CHARITABLE FOUNDATION TRUSTEES' REPORT THE YEAR ENDING 31 DECEMBER 2023
The trustees present their annual report and financial statements of the Hainsford Charitable Foundation for the year ended 31st December 2023. The financial statements have been prepared in accordance with the requirements of The Charites Act 2011.
Structure Governance and Management
The Hainsford Charitable Foundation (“the Foundation”) is a registered charity, number 1191315, and is constituted under a trust deed dated 28th March 2020. The Trust was established by an initial donation from Dr Charles Rose in 2021. It is Dr. Rose's stated intention to make further donations to the Foundation. The Foundation does not actively fundraise, and its principal objective is to improve social mobility by supporting initiatives aimed at increasing access to further education for disadvantaged young people and widening broader training and educational opportunities which address needs created by poverty, abuse, and discrimination.
Currently the trustees have decided that the aims and ambitions of the Foundation can be best achieved by creating partnerships and strategic alliances with other charities who are able to administer individual awards and monitor their effectiveness. The Trustees confirm that the activities of the Foundation are undertaken to achieve the Foundation’s aims with regard to the public benefit guidance.
There are currently two trustees: Dr. Charles Rose and Mrs Marie Angela Heesom. At the half yearly trustees’ meetings, the trustees agree the broad strategy and consider grant making. The day-to-day administration of donations and award of grants and the processing and handling of applications prior to consideration is undertaken by Mrs. Marie Heesom. Both trustees give of their time freely and no remuneration was paid in the year. Trustees are appointed by invitation from the Settlor or the board of Trustees. New Trustees will be given a copy of the Charity Commission's guidance for Trustees "The Essential Trustee" (CC3).
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Foundation's aims and objectives, and when setting the grant making policy for the period.
The Foundation invites applications for funding from Individuals and Charites which accord with its objectives to improve social mobility by supporting initiatives aimed at increasing access to further education for disadvantaged young people and widening broader training and educational opportunities which address needs created by poverty, abuse, and discrimination.
Donations made during the period 1st January 2023 to 31st December 2023
During the year donations were made to the following charities:
Dandelion Time which transforms the lives of traumatised children in Kent. Their therapeutic approach is family based, embedded in nature with a range of activities that engage head, heart, and hands. This nurturing farm environment allows children to build self-belief, strengthen relationships and develop the skills and aspirations for a brighter future.
The Institute of Cancer Research/One More City where the donation was earmarked to assist in the funding of PhD student at the Institute of Cancer Research, London. The aim of the PhD project is to create and develop new treatment options for secondary breast cancer patients.
The Social Mobility Foundation which is a charity which aims to make practical improvements in social mobility for young people. It was founded to provide opportunities, and networks of support for 16–17-year-olds who are unable to get them from their schools or families. SMF provides an exemplary service to help academically talented disadvantaged students achieve their potential.
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THE HAINSFORD CHARITABLE FOUNDATION
TRUSTEES' REPORT (continued)
THE YEAR ENDING 31 DECEMBER 2023
Grant Making Policy
The Hainsford Charitable Foundation will consider applications from Individuals and / or Charites which accord with its objectives to improve social mobility by supporting initiatives aimed at increasing access to further education for disadvantaged young people and widening broader training and educational opportunities which address needs created by poverty, abuse, and discrimination. The Hainsford Charitable Foundation will concentrate primarily but not exclusively on educational based Charities.
The assessment criteria aim to ensure fairness and accountability by having regard to: the ability of the charity or organisation to carry out the project or proposed programme; identifying significant need; and ensuring there are clear measurable benefits to the individual or charity and clear guidelines on how to assess effectiveness.
Investment Policy
Currently the trustees hold all funds in cash, however, it is anticipated that as the trust grows, funds may be invested in a mixed portfolio of equities, bonds, cash, and other investments, weighted according to the appetite for investment risk.
Financial review and reserves policy
Receipts for the year were £106,250 (2022: £20,000), and payments in the year totalled £68,470 (2022: £25,627). This resulted in net receipts for the year of £37,780 (2022: net payments of £5,627).
Currently the trustees hold all funds in cash, and it is the Foundations policy to maintain cash reserves of at least £5,000.
In future it is anticipated that as the Foundation grows funds may be invested in a mixed portfolio of equities, bonds, cash, and other investments, weighted according to the appetite for investment risk. The reserves at 31 December 2023 totalled £58,634, all of which were unrestricted.
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees’ Report and the financial statements in 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 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 these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP 2019 (FRS 102);
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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;
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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.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 7 June 2024 and signed on their behalf by:
................................. Dr Charles A. Rose Trustee
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THE HAINSFORD CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES THE YEAR ENDING 31 DECEMBER 2023
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 5 to 6.
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 charity’s accounts carried out under section 145 of the 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 giving me cause to believe that in any material respect:
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1) accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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2) the accounts do not accord with those records
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.
Sandra Morrell FCCA
Edmund Carr LLP 146 New London Road Chelmsford CM2 0AW
07 June 2024
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THE HAINSFORD CHARITABLE FOUNDATION RECEIPTS AND PAYMENTS THE YEAR ENDING 31 DECEMBER 2023
| Receipts Donations received Total Receipts Payments Donations paid Accountancy Fees Professional fees Website costs Travel expenses Bank charges Total payments Net (payments) / receipts Cash funds brought forward Cash funds carried forward |
2023 £ 106,250 106,250 67,000 1,260 - 207 - 3 68,470 37,780 20,854 58,634 |
2022 £ 20,000 20,000 24,250 1,200 - 176 - 1 25,627 (5,627) 26,481 20,854 |
|---|---|---|
All funds are unrestricted.
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THE HAINSFORD CHARITABLE FOUNDATION
STATEMENT OF ASSETS & LIABILITIES
AS AT 31 DECEMBER 2023
| Cash funds Liabilities Examination and accountancy fee accrual |
2023 £ 58,634 (1,325) |
2022 £ 20,854 1,260 |
|---|---|---|
All funds are unrestricted.
Approved by the trustees on 7 June 2024 and signed on their behalf by:
Dr Charles A. Rose
Trustee
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