THE EXCELCARE FOUNDATION Charity No. 1191815 UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE EXCELCARE FOUNDATION LEGAL AND ADMINISTRATIVE DETAILS Charity registration number 1191815 Registered offi Ertosun House 61 Widmore Road Bromley Kent BR13AA Trustees Osman Ertosun Samantha Manning Engin Ertosun Mertdogan Ziya Bankers CAF Bank Ltd 25 Kings hill Avenue Kings Hill West Malling Kent ME19 4JQ THE EXCELCARE FOUNDATION CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 PAGE Contents Trustees report statement of financial activities Balance Sheet Notes to the financial statements 9-12 THE EXCELCARE FOUNDATION TRUSTEES REPORT The trustees present their report together with financial statemenls for the year ended 31 March 2024 Objèctives and activitiés The objectives of the Excelcare Foundation are to relieve financial hardship amongst employees orthe immediate lamily members ofemployees of Excelcare and it subsidiary companies who are in need by reason of ill health or bereavement. Grants will be made to employees of Excelcare and its subsidiary companies andlorto members of their immediate families who have been diagnosed with a terminal or serious illness or have been bereaved and require financial assistan￿ to alleviate financial hardship associated with their terminal or serious illness or bereavement. The size of the grant made will vary from grant to grant in accordance with the Application of Funds Policy. Currently there are approximately 2,500 people who are employed by and ils subsidiaries Achievements, performance and financial review During the firiancial year 2023124, the foundation has made 14 donations to team members lotaling £10,712.50. Rlsk assessment The major risks to which the charlty is exposed, as identified by the truslees, have been reviewed and systems established to mits.gate these risks. THE EXCELCARE FOUNDATION Reserves policy Management of cash reseTrves is prudent and caulious. All funds are held in an interest- bearing bank account with CAF Bank Lld. Truslees review any charitable donations awarded, considering each individual amount. The Trustees remain mindful of only committing available funds. structure, governance and management Trustees are elected in a¢¢ordan¢e with the constilution at the charities annual general meeting. The procedure for the appointment and period of service held by Trustees is defined in the Foundation's trust deed. The secretary to the Foundation maintains the records of all activity for the Excelcare Foundation al the Excelcare Head office in Bromley. Kent. None oflheTrustees or Excelcare employees providing administrative services to the Foundation received renumeration from the Foundation, nor does the Foundation incur renl or other business occupancy costs. Administrative detalls The membership oflhe board ofTruslees in the year is set out below.. Osman Ertosun Samantha Manning Engin Ertosun Mertdogan Ziya Trustees. responsibilities Statement The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and regulations. The Charities Act 2011 requires the trustees to prepare financial slatement for each financial year. The trustees must prepare the financial statement in accordan￿ with United Kingdom Generally Accepted Accounting Practi￿ (United Kingdom Accounting Standards and applicable lawl. The trustees much not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of Ihe charity and of the incoming resources and application of resources, including the income and expenditure, THE EXCELCARE FOUNDATION of the charity for the period. In preparing these financial statements, the trustees are required to.. Select suitable accounling policies and the apply them consistently, Observethe methods and principles in the Charities SORP. Makejudgements and accounting eslimales that are reasonable and prudent, Preparg the financial statements on the going concem basis unless il is inappropriate to presume that the charity will continue in business. In so far as the trustees are aware.. The trustees have taken all steps that they ought to have taken to makes themselves aware of any relevant information and to establish that the independent examiner is aware of that information. ON BEHALF OF THE TRUSTESS O Ertosun Chairman 20 Dec 2024 THE EXCELCARE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 All income and expenditure are unrestricted, all of the activities are classed as continuing Notes Total Totsl 2022123 2023124 Income Excelcare Donation 15,000.00 7,913.62 Just Giving 3,130.75 4,797.71 Other 2,958.46 58.82 Total Income 21,089.21 12,770.15 Expenditure Charitable Actlvates 22,570.50 10,999.75 Net IncomellExpenditurel 1,481.29 1,770.40 Funds Brought Forward 4.223.35 2,742.06 Funds Carried Forward 2,742.06 4,512.46 The Foundation has no recognised gains or losses otherthan the result for Ihe year as sel out above. THE EXCELCARE FOUNDATION BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 Notes Total Total 2022123 2023124 Current assets Cash at bank and in hands 9,338.06 11,983.96 Creditors amounts falling due within one year 6,596.00 7,471.50 Net current assets 2,742.06 4,512.46 Net Assets 2,742.06 4,512.46 Represented by Unrestricted funds 2,742.06 4,512.46 The financial stalemenls were approved by the Trustees on 20 Dec 2024 O Ertosun Chalrman THE EXCELCARE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 General Infom)atlon The Excelcare Found81ion is an unincorporated charity registered in England and Wales Charity number- 1191815 Registered Office.. Ertosun House 61 Widmore Road Bromley Kent BRI 3AA Accounting poli¢les 1.1 Basls of preparation of flnanclal statements The financial slalemenls have been prepared in accordance wilh Accounting and Reporting by Charities.. Statement of Recommended Practice 8pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK {FRS 1021. 1.2 Golng concem The trustees have looked ahead for a period in excess of 12 months from the balance sheet date in forming their assessment that Ihe charity is a going concern 1.3 Incoming Resources Donations All monetary donations are included in full in the Statement of Financial Activities when ieceivable provided that Ihere are no donor-imposed restrictions as to the timing of the related expenditure THE EXCELCARE FOUNDATION Investment income Investment income is recognised when re￿iv8b1e Gift Aid Gift Aid reclaimable on donations to the charity is included within Ihe amount received. 1.4 Resource$ expended Classification of expenditure Expenditure is charged on an accruals basis All expenditure is shown gross, inclusive if irrecoverable VAT 1.5 Cash and cash equivalents Cash is represented by cash in hand and deposits with financial instilules repayable without penalty on notice of note more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readity convertible to known amounts of cash with insignificant risk of change in value 1.6 Creditors Short term creditOTS are measured at the transaction al price. Other financial liabilities, including bank loans are measured inllially al fair value, net of transactional costs. and are measured subsequently at amortised cost using the effective interest method Taxation The Excelcare Foundation is a registered charity and accordingly exempt from taxation on ils income and gains failing within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable purposes. Employees Thecharity had no employees between 01 April 2023 and 31 March 2024 io THE EXCELCARE FOUNDATION Expendlture on charltable actlvltles All of the resources expended were for the charity to meet its objectives to pay or apply the capital and in¢ome for the Foundation for charitable purposes and in such pioportions in such manner and subject to such terms and conditions as the Foundation may determine 2024 Donations Paid fO,713 Administration Costs 216 Bank Charges 71 11,000 Charitable Activltles 2024 Donations 11.000 Creditors: amounts falling due wSthln one year 2024 Unity 7.471 li THE EXCELCARE FOUNDATION Net movement in funds 2024 Al 01 April 2023 Net increase in funds 2.742 1,770 Al 31 March 2024 4.512 12