Registered number.. CE024062 Charitv nurnber: 1191627 Delamere Dairy Foundation CIO Trustees, Report and Financial Statement5 For the year ended 31 Deeember 2023
Del#mere Dairy Found#tLOll Contents Page Referenee and administrative details of the Company, its Trustees and advisers Trustees, report Itldependent examiTher's report Statement of fiDancial activities Balance sheet Notes to the financial statements 9-15
Del#mere Dairy Found#tLOll Reference and Administrative Details of the Comp8lly* Its Trustees and Advisers For the year ended 31 December 2023 Trustees E J Salt, Chair E A Sutton N J H Collins {appointed ?2 March 2023) J E Wl)itehead (rtsigned 22 March 20?i) Company registered number CE024062 Charily registered number 1191627 Registered office Yew Tree Farm Bexton Lane Knutsford Cheshire WA169BH Afcount8nt$ Hurst Accouiitsnts Limited Independeni Examiners and Chartered Ac¢ounianis 3 Stockport Exchange Siockport Cheshire SKI 3GG Page I
Del#mere Dairy Found#tLOll Truste, Report For the year ended 31 December 2023 The Tnjstees present their arll]ual report together with the financial statements of the Company for the year l January 2023 to i l December 2023. The annual report serves the PUTP05es of both a Trnstees, report and a directors, report under coinpany law. The Trnstees confiTm that the annual report and financial staten)ent5 of the charitable company coinply with the CUTrent Statutory requirement5, the requireinents of the charitable company's governing document and the provisions of the Statemet]t of Recommended PTaCtice {SORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} (effective l January 20191. Since the Company qualifies as small under section 382 of the Cojnpanies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 201) has been omitted. Objectives and activitie5 Policie5 and objective5 The Delamere Dairy Foundation, established in October 2020, is a self-goveming, independent registered charity with a clear PUTpose of giving back to local and wider coinmllnities through the provision of di5cretionatv grants at]d other financial assistance. The Foundation's charitable objectives are.. The advancetnent of agriculture and of environrnental protection. The advancement of life in young people by developing their capabilities so that they may tnature as contributory members of society,. The relief of hardship,. The advancement of ediication,. and The relief of sickness, by the provision of grants and other financial assistance at the Trustee's discretion incliiding in support to Charities and other organi5ations furthering these purpose5, which may be iiominated by the staff of Delainere Dairy Lirnited or through the Delamere Dairy Foundatiot] nomination process. In setting objective5 and planning for activities, the Trustees have given due consideration to geiieral guidance published by the Charity Commission relating to public benefit, including the guidance'Public benefit.. ll]ng a charity {PB2)'. b. Strategies for aehieving objeetives The charity's main activities are detailed below, all of which fiirther our aims and objectives for the public's benefit= Awarding small to niedium grant5 to the charitable bodie5 we supwrt to enable them to caTry Out their WOTk and iniprove people's quality of life or the natural enviroiiment Monitoriiig the grat]ts aH'arded through visits, conversations at]d an Et]d of Grant Mot]itoring Fomi to enable contii)uous iniproveinent of hom. we support our charities aiid improve the impact Inade from oiir graiits. Page 2
Del#mere Dairy Found#tLOll Trustees, Report (continued) For the year ended 31 December 2023 Achievements alld performance Main achievetneTht5 of the Company The Foundation measures its performance using the following key perfoTmance indicators.. Donations received in the period.. £210,445. Donations received frorn Delamere Dairy Litnited.. £210,445. Number of organisations supported in the period.. 12 The Respite Associatiot] Treloar Tst Sight for Surrey The GINA Project Bran)ber Bakehouse Little Hearts Matter Benvickshire s'aP SCIO Pathway to Ejnploymejit Ronald Macdojial House Martlets Hospice RIG Arts Noahs Star Ainount of money donated to worthy causes in the period.. £30,000 b. Investment policy The overall objectives are to create siiffjcieiit it]come and capital gr0h to et]able the charity to cary oiit its purposes consistently year-on-year with due and proper consideratioii for future Jieeds and the niaintenance of the value of the invested fund5 while they are retained. The investment manager provides an annual Teview of performance and a review of activity to the Tn]5tees and the policy will be re(Tularly reviewed to ensure the overall objectives continue to be achieved. Financial review The Trustees awarded chaTjtable grants totslling £30,000. The total income for the year was £210,445 and expenses of admii)istering the Charity were £9,079. Finaneial review . Going concer After makiiig appropriate enquiries, the Trnstees have a reasonable expectation that the Company lias adequate resources to contii)ue in operational existet]ce for the foreseeable futiire. For this reason: the}. continue to adopt the going coi)cern ba5lS in preparing the fjnancial statements. Further detsils regarding the adoption of the going concern basis can be found in the accouRtit]g policies. Page 3
Del#mere Dairy Found#tLOll Trustees, Report (continued) For the year ended 31 December 2023 b. Reserves policy As part of the ongoing activities of the Foundation, reserves totalling £687,977 M'ere held at 31 December 2023. These are held to ensure the availability of continued fiding for those activities that are deeined suitable by the fnjstees, and must be sufficient to cover the expected annual adtninistTative and governance costs of the Charity. Free reSt£S totalled £687,977. Some of this is expected to be spent in the next 12 months and the rest will be invested to generate an ongoing income stream which will be used for the Charity's benefit The resetTres policy is reviewed annually. Structure) governance and tnanagement CoDStitution [kIller£ Dairy Foundation was registered as a Charitable Incorporated Organisation (CIO) on 5 October 2020 and registered with the Charity Commissioii under charity nurnber 1191627. b. Methods of appointent or election of Tru5tee5 The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Statetnent of Tru5tee5' responsibilities The Trnstees (who are also the directors of the CoMp]Y for the puwoses of compat]y la..) are responsible for preparit]g the Trustees, report ld the financial statements in accordance with applicable law at]d United Kingdom Accounting Standards (United tQiiigdoni Generally Accepted AccountinuF Practice). Company law reqiiires the Tnistees to prepare finat]cial statements for each financial year. Under coinpany law, the Trnstees must not approve the financial statements iiJiles5 the), are sat15fJed that they give a true and fair viem. of the state of affairs of the Compat]}' and of its incominfw resources and application of resources, including its income and expenditure, for that period. In preparing these financial stateinents, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe Ihe methods and principles of the Charities SORP (FRS 102)., make judgments gnd accounting estimates that are reasonable and prudent., state whether applicable UK Accounting stEdards (FRS 1021 have been followed, subject to any material departure5 disclosed aiid explaii)ed in the financial ststeinents., prepare the financial statements on the going ¢oi)¢ern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible lor keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Companj, and enable ihem to ensure that the financial staiements comply with the Companies Acr 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
Del#mere Dairy Found#tLOll Trustees, Report (continued) For the year ended 31 December 2023 Approved by order of the members of the board of Trustees and signed on their behalf by.. EJSalt Chair of TTUStees Date.. 17 Sep 2024 Page 5
Del#mere Dairy Found#tLOll Independent Examiner's Report For the yeur ended 31 Decembvr 2023 Independent Examiner's Report to the Trustee5 of Delamere Dairy Foundation ('the Compans ) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 December 2023. Responsibilities and Basis of Report As the Trustees of the Company (and its directors for the purposes of company lam'} you are responsible for the preparation of the accounis in accordance with the requirements of the Companies Aci 2006 (the 2006 Acr). Having sgtisfied myself thai the accounts of the Company are not required to be audited under Pgrt 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts cgrried out under section 145 of the Charities Aci 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5Xb) of the 2011 Act. Independent Examiner's Statement I have completed my examinaiion. l Confirm that no matters have come to my attention in connection with the examination giving me cause 10 believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or the accounts do not accord with Ihose records., or the accounts do not cotnply with tl)e accounting requirements of section 396 tsf tl)e 2006 Act other than any requiremei)t that the accounts give a 'true and fair, view which is not a n)atter coi)5idered a5 part of an independent exainiiiation., or the accoiints have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. I have no concems and have come across no other matters in connection with the examination to which atteniion should be drawn in this report in order to enable a proper understanding of the accounts ro be reached. This repon is made solely to the Company's Twstees, as a body, in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stsie to the Company's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest exieni permitted by law: I do not accept or assume responsibility to anyone other than the Company and the Companv's Trustees as a bodv, for my work or for this report. Signed.. Dated.. 17 Sep 2024 Helen Besani Robert5 FCA Hurst Accountants Lirnited Independent Examiners and Chartered A¢ctsuntants Page 6
Del#mere Dairy Found#tLOll Statement of financial aetivities (iNcorpornting incvme and expemditure account) For the yeur ended 31 Decembvr 2023 Unre5tricttd funds 2023 Total funds 2023 [5. 2022 Note Income from: t)onations and legacies Investments 210,445 210,445 108.242 Total iDeorne 210,452 210,452 108.327 Expenditure on- Charitablc activities Other expenditure 30,000 30,000 68.475 9,079 9,079 6.500 Total expenditure 39,079 39,079 74.97i Net income before net gainsl(losses) on investments Nei gainsl{losses) on investments 171,373 36,409 171,373 36,409 53,352 135.398) Net movement in funds 207.782 207.782 (2.n461 Reconciliation of funds.. Total fiinds broiight forward Net movement in funds 480,195 207,782 480,195 207,782 482.241 r2,046) Total fund5 carried forward 687,977 687,977 n.19i The Siatement of Financial Activities includes all gains gnd losses recognised in the year. The notes on pages 9 to 15 form part of these financial statements. Page 7
Del#mere Dairy Found#tLOll Regi$tertd number.. CE024062 Bal#nee Shtet As at 31 December 2023 2023 2022 Note Current a55ets Investments 631,715 56,262 435,305 Cash at bank and in hand 44,890 687,977 480, 195 Net current assets 687,977 J80. 19i Total net assets 687,977 480. 19i Charily fund$ Restricted funds Unrestricted funds 10 10 687.977 48n. 19i Total funds 687,977 19i The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. EJSalt Chair of Trustees Date.. 17 Sep 2024 The notes 01) pages 9 to 15 fomi part of these finai)tial statements. Page 8
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 General information Delamere Dairy Foundation was registered as a charitable incorporated organisation on 5 October 2020 and registered with the Charity Commission under charity number 1191627. The charity's principal olTice address is Yew Tree Farm, Bexton Lane, Knutsford, WA16 9BH. Delamere Dairy Found81ion's registered number is CEO•4062. Accounting policies 2.1 Basis of preparation of flnancial statements The financial Statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reportin(T by Charitie5'. Statement of Recoinmended Practice applicable to charities preparing their accounts in accordance with the Financial Reportiiig Standard applicable in the UK a]id Republic of Ireland {FRS 1021 (effective l Januatv 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Delamere Dairy Foundatioi) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogni5ed at histOTical c05t or transaction value unless othenvise stated in the relevai)t accounting policy. 2.2 Going concer After TnakiiigF appropriate enquiries, the trustee5 have a reasonable expectation that the charity ha5 adequate resources to continue in operational existeiice for the foreseeable future. For this reason. thej. contiiiue to adopt the gFoing concem basis in preparing the financial stateinents. Page 9
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 Accounting policies (continued) 2.3 Income All income is recognised once the Company has entitlement 10 the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from leggcies is dependent on establishing entitlement. the probability of receipt and the ability to estimate with sufficient gccuracv the amoiint receivgble. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that g gift has been left to them (through knoM,ledge of the existence of a valid will and Ihe death of the benefactor) and the eyecutor is satisfied thai the property in question will not be required to satisfy claims in the estaie. Receipt of a legacy musi be recognised when it is probable that it .111 be received and the fair value of the amoiint receivable, which will generally be the expected cash amount to be distributed 10 the Company, can be reliably measured. Where the donated good is a fixed asset, it is measured at fair value. unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it OUld have been willing to pay to obtsin services or facilities of equivalent economic benefit on the open mark'et,. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income lax recoverable in relation 10 investment income is recognised at the lime the invesiment income is receivable. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, li is probable that a transfer of economic benefits 111 be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activiti, are made up of the total of direct cosis and shared costs, including siipport costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset-s use. Expenditure on charitable aciiviiies is incurred on directly undertaking the activities which further the Companys objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure 'hen the conditions attaching are fulfilled. Granis offered subject to conditions which have nor been met at ihe year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of Ie¢Overable VA T. Page 10
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 Accounting policies (continued) 2.5 Intere$¢ receii'able Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is nomially upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Taxation The Company is considered 10 pgss the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable compan) for UK corporation tax purposes. Accordingly. the Company is potentially eyempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 1 l of the Corporation Tax Aci 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that siich income or gains are applied exclusively to charitable purposes. 2.7 Investments Fixed asset investments are a form of financial instrument and are initially recognised ai their transaction cost and subsequently measured ai fair value at the balgnce sheet date, unless the value cannot be measured reliably in hICh case it is measured ai cost less impainnent. Invesiment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLosses) on investments, in the statement of financial activities. 2.8 Cash at bank and in hand Cash at bank and in hand includes cgsh and short_ierm highly liquid investments with a short maturity of three monihs or less from the date of acquisition or opening of the deposit or similar account. 2.9 Financial instruments The Company only has financial assets and financial ligbilities of a kind thgt qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 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 Company and which have not been designated for other pun)oses. Investment income. gains and losses are allocated to the appropriate fund. Page 11
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 Income from donations and legaci Unrestricted funds 2023 Total funds 2023 Tulul [uNd& 2022 Donation5 in Cash 201,366 201J06 101. 750 Donations in Kind 9,079 9,079 6.492 210.44) 210,445 108.242 Investment income Unrestricted funds Total funds 2023 Toial fu4d,s 2022 2D2J Interest on funds held on deposit Analysis of expenditure on charitable activities Summary by fund type Unrestritted funds 2023 Total 2023 Total 2022 Charitable donations made 3U.000 30.0( Analysis of txptnditure by aetivities Grant funding of activities Total fund5 Tofol fiinds 2023 2023 2022 Charitable donations made 30.000 30,OIM 68.475 Page 12
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 Other expenditure Unrestricted funds 2023 Total funds 2023 Tulul [uNd& 2022 Other resoiirces expended 9.079 9.079 6.51111 Trustees, remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2022- £VIL}. During the year ended i l December 2023. no Trustee expenses have been incurred (2022- £NIL). Current asset investments 202J 2022 Listed investtnents 631,71S 3?3nj io. Statement of fund5 Statement of fund5- current year Balan¢¢ at 31 December 2023 Balance at I January 2023 Gainsl {L05s¢5) Income Expenditure Unrestrieted funds General Funds- all funds 480,195 210.452 39,0791 36.409 687,977 Statement of funds- prior year Balance at Balance at Gain5/ 3] December (Losses) 2022 2022 1come Erpenditure Unr¢5trict¢d funds General Funds- all funds ¥82.241 108,327 17¥,975) (35,3981 ¥80. 195 Page li
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 Summary offunds Sumrnarv of funds- current vear Balanc¢ at 31 December 2023 Balance at I January 2023 Gainsl (Losse5) Income Expenditure Genetal funds 480,195 210,452 {39,0791 36,409 687,977 Sumrnarv of funds- prior year Balance tsl Goins/ 31 December (Lafses) 2022 2022 1come £¥pedI<re General funds ¥82.241 108,327 (74,975) (3i.3981 48Q. 195 12. Analysis of net a$5ets between fund5 Analysis of net assets between funds- Current year Unrestritted funds 2023 fund$ 2023 CUent a55ets 687.977 687,977 Total 687.977 687,977 Analysis of net klSSets between funds- prior year Opjresli'icfed Total 2022 2022 Current assets 480, 195 J80. 19i Total 480, 195 n.19i Page 14
Del#mere Dairy Found#tLOll Notes to the Fin#nci#l Statements For the yeur ended 31 Decembvr 2023 13. Related party transactions Donations totalling £210,445 were received from Delamere Dairy Limited, a company that has common directors with the charity. Page 15