The Dow Clewer Foundation (A company limited by guarantee) Report and Financial Statements Period ending 30 September 2024 Charty number 1193608 Company number: 12914102
The Dow Clewer Foundation Tho Dow Clewer Foundation Report of the trustees (including Directors. Report) for the period ending 30 September 2024 The trustees {who are also the Directors of the Company for the purposes of company law) are pleased to present their annual directors, report together with the financial statements of the charty for the period ending 30 September 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The charrtable company is registered in England and Wales. The financial statements comply with the Charities Art 2011, the Companies Act 2006, the Memorandum and Artides of Association, and the Charities Statement of Recomrnended Practice ("Charities SORW) (applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland: FRS 1021 issued in Oclober 2019. Our purposes and activities The purposes of the charity are to make grants and CharItab distributions according to the guidelines set out in the chartty's grant making policy filed with Companies House. The Dow Clewer Foundation made donations totalling £263,385 in the financial period ending 30 September 2024. 95010 of the funds spent were from unrestrFCted funds. and the remaining 5% were from restricted funds. The single donation made from restricted funds (£12,286) was to support a project run by the African Bush Camps Foundation. The primary donations from unrestricted funds totalled £177.925. were split betsveen five charities, with the remaining £73,174 made as smaller donations (under £15,000 in aggregate per Chariiy) to various established charities. The trustees have also had regard to the guidan* issued by the Charity Commission on public benefit. Achievements and perforniance This year, The Dow Clewer Foundation made major donations to six charities across a broad range ofsectors. Internationally, they continued lo support Afn'can Bush Camps Foundation, who run projects in Zimbabwe, Zambia, and Botswana that focus on addressing challenges that include unemployment, food scarcity, poor education and healthcare infrastructure, low school attendan and dropouts due to financial constraints, wildlrfe poaching, and preserving natural resources. Donations were made wtthin the Music and Arts sector to the English National Opera's Harewood Artists Match Funding Campaign, the Guildhall School of Music and Drama {GSMD), Academy of St Martin in the Fields, and the Royal Opera House. The English National Opera (ENO) provides a bespoke programme of vocal and language training. Successful applicants are coached by experts in their repertoire and are fully supported through auditions for career-building performance opportunrties with ENO, around the UK and abroad. Harewood Artists receive dramatic & movement coaching, perfomiance psychology, language coaching, vocal massage, nutrition advice and breathwork as well as opportunities to leam from distinguished artists and leading figures from the operatic world. The Charity also funded a scholarship for opera students al GSMD to support their living expenses or tuition fees. The students to receive the benefit of the scholarship were chosen at the discretion of the Opera departmental representative, and were awarded based on a mix of criteria including (i) financial need, (li) talent and (iii) the potential to benefit from the funding. The Dow Clewer Foundation are also actively involved in Brass for Africa. providing advice and guidance, as well as participating in fundraising events. Brass for Africa's mission is to support thousands of marginalised children and young people in Sutrttsaharan Africa to transfonn their lives, driving social impact and social Justi through music. BfA provide Music & Life-skills education to over 2,000 disadvantaged children and young people a¢ross Uganda, Rwanda and Liberia every wee
The Dow Clewer Foundation Significant support was also given locally to Bracknell Cobras Basketball Club, the Chiltem Way Academy and the Wokingham Foodbank. Financial review The charity is funded primarily by the Dow Clewer family. During the period, £263,385 of total funds were donated directly to charitable causes, £2,220 are expenses relating to the independent examination of the tharity's annual accounts, and £1,326 were paid as bank charges, commissions on investment purchases, and other govemance-related fees. During the Financial Year, the charity opened an account with Redmayne Bentley in order to a¢$$ financial instrumenls to eam interest on the funds held, as cash in the charity's current account held wth Cater Allen earned zero interest. As part of the Investment Policy ststement, instruments are chosen with a high degree of capital protection, while providing some yield on the cash invested so as to provide additional income towards the Charty's objects. Despite only being implemented for a part of the year, £4,294 was earned as income. against additional investment-related costs of £1,113. This represents a net positive result of £3,181 At the end of the period, the charity had £277.651 in cash andlor liquid investments to continue its purposes and activities in the followng period, and only had £2,220 in creditors due to the Independent Examiner for theirwork on this year's accounts. The charity has no specific reserves policy. There are no uncertainties about the chanty's abilty to continue as a going Gonom. The charity has no fund or subsidiary undertaking that is materially in deficit. Reference and administrative details Charity number. Company number. Registered Office.. 1193608, registered wtth the chartties Commission on 19.02.2021 1291402. incorporated at Companies House on 29.09.2020 Stsple House, Eleanors Cross. DUnstab, Bedfordshire, LU6 1 SU Our advisers Independent Examiner Bankers Kirk Rice LLP Cater Allen The Courtyard. High Street, Ascot, Berkshire. SL5 7HP Santander House, 9 Nelson Street, Bradford, B015AN Directors and trustees The directors of the Charitable company (the charity) are its trustees for the purpose of charty law. The trustees and ¢irS serving during the period were as follows: Eleded trustees: D Clewer RDOW PDOW EDOW Secretary H J Williams Currently the charity has no policy for the recruitment and appointment of trustees.
The Dow Clewer Foundatlon Structure. Governance and Management Goveming Document The Dow Clewer Foundation is a company limited by guarantee govemed by its Memorandum and Articles of Association dated 29 September 2020. It is registered as a charity with the Charity Commission. Organisation The board of trustees nomally meets monthly to discuss grant proposals, existing charitable donations, and general matters of Ihe financial management and g0Veman of the foundation. Relatedparties None of our trustees re1ve remuneration or other benefft from their work with the charity. Trustees, responsibilities in relatlon to tho financial Statements The charity trustees (who are also the directors of The Dow Clewer Foundation for the purposes of company law} are responsible for preparing a Trustees. Annual Report and financial stalements in accordance wilh applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practi). The report and acwunts have been prepared in accordan wrth the provisions in the Companies Act 2006 relating to small companies. Company law requires the chanty trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resour$, including the income and expenditure, of the charitable group for that period.ln preparing the financial statements, the tnjstees are required to.. Select suttable accounting policies and then appty them consistently- ObseNe the methods and principles in the Charities SORP., Make judgements and estimates that are reasonable and prudent" State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and Prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the charity will continue in operation. The tnjstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements omply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe charity and the group and hence taking reasonable steps for the prevention and detedion of fraud and other irregularities. By order of the board of trustees D Clewer (Chair) 17.06.2025
The Dow Clewer Foundation Indèpendènt examine5 report to the trustees of The Dow Clewer Foundation I report to the trustees on my examination of the financial statements of The Dow Clewer Foundation (the charity) for the period ended 30 September 2024. Responsibilities and basis of report As the charity's trustees (and also its director5 for the purposes of company law) you are responsible for the preparation of the accounts in accordan wrth the requirements of the Companies Act 20061.the 2006 Act,). Having satisfied mysew that the accourrts of the Company are not required to be audtted 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 rrIed out under section 145 of the Charilies Act 2011 I'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 examinerfs statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination bec2use l am member of ICAEW, which is one of the listed bodies. I have completed my examination. l GonfiTm 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 nol comply wtth the accounting requirements of section 396 of the 2006 AGt other than any requirement that the accounts give a 'tnJe 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 aG¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no con¢ems 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. Andrew Beet FCA Date:S06.2025 Kirk Rice LLP The Courtyard High Street, Ascot, Berkshire, SL5 7HP
The Dow Clewer Foundation Statement of Financial Activities P8ric¥d." 151 October 2023 to 3tP Septen7b8r 2024 Total Funds Unrestricted Restricted Funds Funds Note Income: Donations and legacies 250,0(XI 12,500 262,500 Interest Received 4,294 4,294 Total income 254,294 12.500 266,794 Expenditure: Expenditure on charitable adivities 254,645 12,286 266,931 Total expenditure 254,645 12,286 266.931 Net incomellexpenditure) and net movement in funds for the period 1351) 214 (137) Reconciliation of funds Total funds brought foThvard 275,568 275,568 Total funds carrled forward 275,217 214 275,431 Statement of Financlal Actlvhles Pern.. isl Octob8r 2022 to 3LP Septemb8r 2023 Unrestrlcted Restricted Funds Funds TotalFunds Note Income: Donations and legacies 250.000 18,625 268,625 Interest Received 37 Total income 250,034 18,628 268,662 Expendlture Expenditu on charitable activities 238.423 18,628 257,051 Total expenditure 238,423 18.628 257,051
The Dow Clewer Foundation Net incomel{expenditure) and net movement in funds for the period 11.611 11,611 Reconciliation of funds Total funds brought fortrvard 263,957 263,957 Total funds carried fOard 275,568 275,568 The statement of financial activities indudes all gains and losses recognised in the period. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure acGounl under the Companies Act 2006.
The Dow Clor Foundation Balance Sheet 30" September 2024 30" Septembgr 2023 Note Current assets Debtors Investments Cash at bank and in hand Total Current Assets 174,451 103,200 277,651 276,228 276,228 Liabilities Creditors falling due wthin one year Net Current Assets 10 (2.220) 275,431 1660} 275,568 Thè funds of the charity: Unrestricted income funds Restricted income funds 275,217 214 275,568 Total Charity Funds 275.431 275,568 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 30 September 2024. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Art and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resour5, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply wth the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audrt of its financial statements for the year in question in accordance wth section 476. These financial statements have been prepared in accordan the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the TNstees on 17.06.2025 Signed.. Name DAWN CLEWER , Chair of trustees on behalf of the trustees. Company registration no. 12914102
The Dow Clawer Foundation Notes on the accounts - P8riG¥Y l& October 2023 to 3LVJ September2024 Accounting Policies The principal acGounting policies adopted, judgements artd key sources of estimation uncertainty in the preparation of the financial statements are as follows= a) Basis of preparation The financial statements have been prepared in accordanrR with the Charttl8s: 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)) (issued in Odober 2019) - (Charities SORP (FRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity is a Public Benefft Entrty as defined by FRS 102. The chartty has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in steding, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts are presented for the period 1* October 2023 to 30 Septembèr 2024. b) Going Concem At the time of approving the financial statements, the trustees are not aware of any material UnrtaIntieS aboLrt the charity's ability to continue as a going concem and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees have adopted the going concem basis of accounting in preparing the financial statements. The Dow-clewer family has discussed tts intention to continue supporting the charity with further significant donations in the upcoming period. The charity also may make commitments to give grants in the upcoming period, but as at the time of writing the total commitments do not exceed the current cash at bank held by th& charity. Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. d) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations whi¢h the donor has specified are to be solely used for particular areas of the charity's work or for projects being supported by the charity. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or wnstructtve obligation to make a payment to athird party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Debtors Trade and other debtors a recognised at the settlement amount due after any transaction occurs which triggers an amount owing to the chanty in the future.
The Dow Clewar Foundation g) Investments Currenl asset investments comprise cash and cash equivalents held for investments purposes and intended for realisation wtthin one year. h) Creditors and provisions Creditors and provisions are reGognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due. Legal status ol the Trust The Trust is a charitable company limtted by guarantee incorporated in England and Wales and has no share capital. The registered office is Staple House, Eleanors Cross, Dunstable, Bedfordshire LU6 1SU. In the event of a wind up or liquidation, its members will guarantee an amount of £1 each for payment of costs and associated charges. Income from donations and legacies Donatlons FY24 FY23 Gifts 262,500 262,500 268,625 268,625 The income from donations and legacies was £262,500. of which £250,Crt)O was unrestricted. Analysis of expenditure on charitable activities Restricted Unrestricted FY24, £ FY24, £ Total FY24, £ Brass for Africa 78,495 78,495 Guildhall 32,500 32,500 ENO 26,930 26,930 25,000 Royal Opera House 25,000 Cobras Basketball Club 15,000 15,000 Other Donations 12,286 73,174 8S,460 Examinerfs fee 2.220 2,200 Bank & Governance fees 1,326 1.326 Total 12,286 254,645 266.931 10
The Dow Clewer Foundation Expenditure in FY24 on Gharitable aGtt¥ities was £266,931 of which £254,645 was unrestrided and £12,286 was restricted. Restricted Unrestricted FY23, £ FY23, £ Total FY23, £ Brass for Africa 75,350 75,350 Chiltem Way Academy BHF CureHeart 30,000 30,000 ENO 25.000 25,000 Cobras Basketball Club 25,000 25,000 Royal Opera House 23,650 23,650 Other Donations 18,628 58,477 77,105 Examinerfs fee 690 690 Bank & Govemance fees 256 256 Total 18,628 238,423 257,051 Expenditure in FY23 on charitable activities was £257,051 of which £238,423 was unrestricted and £18,628 was restricted. Trustee remuneration and expenses The charity trustees were not paid and did not 1ve any other beneffts from employment with the charity in the period, nor were they reimbursed expenses during the period. No charity trustee received payment for professional or other Servi supplied to the tharity. staff Numbers Th8 foundation employs no staff. Related party transactions A donation of £200,000 was received from Robert Dow during the perÉod, of which £50,000 in GiftAid was claimed. Corporation Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that thes8 are applied to its haritable objects. 11
The Dow Clew8r Foundation Debtors FY24 FY23 other debtors 10 Creditors: amounts falllng due within one year FY24 FY23 Other creditors and a¢Gruals 2,220 2,220 660 660 12