DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
Company number: 13229079 Charity number: 1193752
THE WIGGIN CHARITABLE FOUNDATION (a company limited by guarantee)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD FROM 26 FEBRUARY 2021 TO 31 MARCH 2022
DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
C O N T E N T S
Page REFERENCE AND ADMINISTRATIVE DETAILS REPORT OF THE BOARD OF TRUSTEES AND DIRECTORS 3 - 6 STATEMENT OF DIRECTORS’ RESPONSIBILITIES INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET 10 - 11 NOTES TO THE FINANCIAL STATEMENTS 12 - 14
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS
Company registration number 13229079 Charity registration number 1193752 Registered address 9th Floor Met Building 22 Percy Street London W1T 2BU Member Wiggin LLP Directors Rachel Alexander (appointed 26 February 2021) Gerald Doherty (appointed 26 February 2021) Samantha Lawrence (appointed 26 February 2021) Gerard Lee (appointed 26 February 2021 and resigned 20 May 2021) Melissa Mackney (appointed 26 February 2021) Dr Joanna Twist (appointed 26 February 2021) Benjamin Whitelock (appointed 26 February 2021) Oliver Tenzer (appointed 21 May 2021) Secretary Thomas Nicholson (appointed on 20 May 2021) All trustees served throughout the period unless otherwise noted Key Management Personnel These are deemed to be the Trustees as detailed above Bankers Santander UK plc 2 Triton Square Regent’s Place London NW1 3AN Independent examiner Jon Cartwright Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION REPORT OF THE BOARD OF TRUSTEES (INCLUDING DIRECTORS’ REPORT) for the period from 26 February 2021 to 31 March 2022
The Trustees and Directors present their annual report and the unaudited financial statements for the period from 26 February 2021 to 31 March 2022. In preparing the annual report and financial statements the Trustees and Directors have adopted the provisions of 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).
1 STRUCTURE, GOVERNANCE AND MANAGEMENT
The Wiggin Charitable Foundation is a registered charity (charity no. 1193752). It is a company limited by guarantee registered in England & Wales (company no. 13229079), whose registered office is at 9th Floor Met Building, 22 Percy Street, London, W1T 2BU. The charity was incorporated on 26th February 2021 and it was registered with the Charity Commission on 9th March 2021. These financial statements are the financial statements for the first accounting period from incorporation to 31 March 2022, during which the emphasis of the trustees has been to raise and distribute funds in line with the objectives of the charity.
The Wiggin Charitable Foundation is governed by its Memorandum and Articles of Association.
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The Charity is managed by the management committee which includes the Trustees/Directors and advisers. The Trustees/Directors bring wide-ranging professional and personal experience to the governance and leadership of the organisation.
The Board has a range of well-developed skills and CVs. This includes legal, finance, knowledge of the third sector, education, funding, the creative arts and digital industries.
New trustees are appointed by the Wiggin LLP, the Charity’s sole member. The articles of association provide for a minimum of three trustees. Trustees with a range of different skill sets are sought, to ensure the effective running of the charity. In addition, the Charity also seeks to ensure that at least two of the Trustees are independent of Wiggin LLP. On appointment, new trustees sign a trustee declaration statement agreeing to give their time and expertise. New Trustees undergo a briefing on the organisation, its aims and objectives and their legal obligations under Charity and company law.
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THE WIGGIN CHARITABLE FOUNDATION REPORT OF THE BOARD OF TRUSTEES AND DIRECTORS (Continued) for the period from 26 February 2021 to 31 March 2022
All trustees give their time freely and no remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 10 to the financial statements. Trustees are required to disclose all relevant interests and in accordance with the charity’s conflicts of interest policy, withdraw from decisions where a conflict of interest arises.
2 OBJECTIVES AND ACTIVITIES
Objectives
The objective of the charity to raise funds to provide grants for:
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Grant-giving to charitable causes, events and/or projects in the creative arts & digital industries:
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Employee matched funding - providing matching donations to charities for fundraising efforts made and raised by employees of Wiggin LLP;
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Providing grants to charities nominated or voted on by employees of Wiggin LLP (the sole member).
The trustees consider all applications received for funding and make grants to local and national charities, at the discretion of the Trustees, in line with the charitable objectives.
The Trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. The charity relies upon donations which it uses to provide grants to charitable causes and cover its operating costs.
3 ACHIEVEMENTS AND PERFORMANCE
Review of activities and future developments
During the first period of the charity’s activities since incorporation, donations of £125,910 have been received and grants of £15,000 have been given to support the following charities:
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The Music Works
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MyBigCareer
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THE WIGGIN CHARITABLE FOUNDATION REPORT OF THE BOARD OF TRUSTEES AND DIRECTORS (Continued) for the period from 26 February 2021 to 31 March 2022
4 FINANCIAL REVIEW AND RESULTS
Financial review
The Charity’s income for the period was £125,912.
During the year the charity gave grants of £15,000 and incurred costs of £2,527
At the 31[st] March 2022 the charity has funds totalling £108,385 of which all are unrestricted funds.
Fund Raising
The charity does not actively fund raise but raises donations from both Wiggin LLP and Wiggin LLP employees.
Going concern
The Charity relies on grants and donations to support is charitable activities for which the Trustees are very grateful. Based on budgets they anticipate that the charity will be able to meet obligations as they fall due for the next 12 months from the approval of these financial statements.
Future plans
We will be acting in accordance with our objectives and aiming to continue to:
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undertake grant-giving to charitable causes, events and/or projects in the creative arts & digital industries:
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provide matching donations to charities for fundraising efforts made and raised by employees of Wiggin LLP; and
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provide grants to charities nominated or voted on by employees of Wiggin LLP .
5 INVESTMENT POLICY
The Trustees and Directors have the absolute discretion to apply or invest money as they think fit. Reserves of the charity are kept in deposit accounts with reputable UK financial institutions. These are held on a short-term basis as the trustees intend to make grant awards for research as efficiently as they can.
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION REPORT OF THE BOARD OF TRUSTEES AND DIRECTORS (Continued) for the period from 26 February 2021 to 31 March 2022
6 RESERVES POLICY
The Charity reviewed its reserves policy and has set its target to maintain sufficient income funds equivalent to at least six months’ expenditure. As can be seen from the Financial Statements below, the Charity is currently meeting this policy. Total funds at the end of the period are £108,385.
7 PAY POLICY FOR KEY MANGAGEMENT PERSONNEL
The Trustees consider the Board of Trustees the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day to day basis, together with the manager.
All trustees give of their time freely and no trustee received remuneration in the period. Details of Trustees’ expenses and related party transactions are disclosed in note 10 to the financial statements.
8 RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed, in particular those risks related to the operations and finances of the charity.
9 INDEPENDENT EXAMINERS
Hazlewoods LLP have expressed their willingness to continue in office.
10 SMALL COMPANY EXEMPTIONS
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
17/11/2022
Signed on behalf of the Board of Trustees on ................................
………………………. Benjamin Whitelock Trustee
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THE WIGGIN CHARITABLE FOUNDATION STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The Directors are responsible for preparing the annual report and the financial statements of the company in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and the profit and loss for that year. In preparing these financial statements the Directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 operation.
The Directors are responsible for keeping accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with applicable law. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS for the period from 26 February 2021 to 31 March 2022
I report on the financial statements of the charity for the period from 26 February 2021 to 31 March 2022, which comprise the statement of financial activities, the balance sheet and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.
Respective responsibilities of Trustees and Examiner
As the Charity’s Trustees of the Company (who are also the Directors of the company for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”) and the Charities Act 2011 (“the 2011 Act”).
Having satisfied myself that the financial statements of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity’s financial statements as carried out under section 145 of 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
The Company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:
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The accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the financial statements do not accord with such records; or
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the financial statements do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Charities SORP (FRS102).
I have considered the disclosures made in Note 2 to the financial statements with regards to the Charity’s ability to continue as a going concern.
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 financial statements to be reached.
21 November 2022
………………………………………… ……………………………………
Jon Cartwright FCCA Date HAZLEWOODS LLP Windsor House Bayshill Road Cheltenham GL50 3AT
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THE WIGGIN CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT) for the period from 26 February 2021 to 31 March 2022
| Notes Income Donations 3 Investment income 4 Total income Expenditure Charitable activities 5 Total expenditure Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Income Funds 2022 £ 125,910 2 125,912 (17,527) (17,527) 108,385 - 108,385 |
Total Income funds 2022 £ 125,910 2 |
|---|---|---|
| 125,912 | ||
| (17,527) | ||
| (17,527) | ||
| 108,385 - |
||
| 108,385 |
The statement of financial activities includes all gains and losses in the period and therefore a separate statement of total recognised gains and losses has not been prepared.
All the above amounts relate to continuing activities.
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
| THE WIGGIN CHARITABLE FOUNDATION BALANCE SHEET Charity number 1132626 as at 31 March 2022 Company number 05128281 |
THE WIGGIN CHARITABLE FOUNDATION BALANCE SHEET Charity number 1132626 as at 31 March 2022 Company number 05128281 |
|---|---|
| Note CURRENT ASSETS Cash in hand and at bank LIABILITIES Creditors: amounts due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES THE FUNDS OF THE CHARITY Unrestricted income funds 8 TOTAL FUNDS 8 |
2022 £ 109,585 _ 109,585 (1,200) _ 108,385 _ 108,385 _ 108,385 __ 108,385 __ |
The Trustees’ statements required by Section 475 are shown on the following page which forms part of this balance sheet.
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION BALANCE SHEET (continued) as at 31 March 2022
Directors’ Statements required by Section 475 for the period from 26 February 2021 to 31 March 2022
In approving these financial statements, as Directors of the Charitable Company we hereby confirm:
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a) that for the period stated above the Charitable Company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 relating to small companies.
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b) that no notice has been deposited at the registered office of the Charitable Company pursuant to Section 476 requesting that an audit be conducted for the period from 26 February 2021 to 31 March 2022, and
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c) that we acknowledge our responsibilities for:
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i) ensuring that the Charitable Company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006, and
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ii) preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of the financial period and of its profit or loss for the period then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
17/11/2022
Approved by the Board and authorised for issue on …………………. and signed on its behalf by:
…………………….
Benjamin Whitelock Trustee
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS for the period from 26 February 2021 to 31 March 2022
1 GENERAL INFORMATION
The Charitable Company is a private company limited by guarantee incorporated and domiciles in England and Wales and a registered charity with the Charities Commission.
The address of the registered office is: 9th Floor Met Building 22 Percy Street London W1T 2BU
2 ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
Basis of Accounting
The financial statements have been prepared under the historical cost convention, adopting the following accounting policies, all of which are in accordance with the Accounting and Reporting by Charities – Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Report Standards applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 – (Charities SORP (FRS 102)), the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The Charity has adapted the Companies Act 2006 formats to reflect the special nature of the charity’s activities. The financial statements are presented in Pound Sterling and have been rounded to the nearest pound.
The Charity constitutes a public benefit entity as defined by FRS 102.
Going Concern
The Charity relies on the donations and trusts to support its charitable activities. The Trustees have prepared the financial statements on a going concern basis on the assumption that their funding will be met. Due to the nature of cash flows, there is always some uncertainty. Should the charity not be able to continue as a going concern, adjustments would be necessary to write down the value of assets to their recoverable amounts, make provisions for further liabilities that would arise on cessation of activities and to reclassify fixed assets and non-current assets and liabilities.
Incoming Resources
Donations represent amounts received during the period.
Grants receivable for specific purposes are credited to the Statement of Financial Activities in the period to which they relate as soon as conditions for receipt have been met.
Grants for immediate financial support, or received against costs previously incurred, are recognised immediately in the Statement of Financial Activities.
Resources Expended
All expenditure is included in the financial statements as soon as it is incurred. The irrecoverable element of Value Added Tax is included with the item of expense to which it relates.
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (Continued) for the period from 26 February 2021 to 31 March 2022
2 ACCOUNTING POLICIES (continued)
Taxation
The Charity’s activities fall within the exemptions afforded by the provision of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these financial statements. The company is not registered for VAT.
3 DONATIONS
| ONATIONS | |
|---|---|
| Period ended | |
| 31 March | |
| 2022 | |
| £ | |
| Donations | 125,910 |
| __ |
Of the income received of £125,910 in 2022 all was unrestricted funds.
4 INVESTMENT INCOME
| INVESTMENT INCOME | |
|---|---|
| Period ended | |
| 31 March | |
| 2022 | |
| £ | |
| Interest | 2 |
| __ |
Of the income received of £2 in 2022 all was unrestricted funds.
5 CHARITABLE ACTIVITIES
| 5 CHARITABLE ACTIVITIES |
|
|---|---|
| Period ended | |
| 31 March | |
| 2022 | |
| £ | |
| Grants | 15,000 |
| Legal Fees | 1,093 |
| Independent Examiner’s fee | 1,200 |
| IT costs | 230 |
| Bank charges | 4 |
| __ | |
| 17,527 | |
| __ | |
| All of the expenditure of £17,527 was charged to unrestricted funds. |
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DocuSign Envelope ID: A9A36E86-A723-4FA0-9592-5FEED987294C
THE WIGGIN CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (Continued) for the period from 26 February 2021 to 31 March 2022
| 6 | NET INCOME FOR THE PERIOD | Period ended |
|---|---|---|
| 31 March | ||
| 2022 | ||
| £ | ||
| Net income is stated after charging: | ||
| - Independent Examiner’s fee | 1,200 | |
| __ | ||
| 7 | CREDITORS (amounts due within one year) | |
| 31 March | ||
| 2022 | ||
| £ | ||
| Accruals | 1,200 | |
| __ |
8 ANALYSIS OF MOVEMENT ON FUNDS
| Net | |||
|---|---|---|---|
| At start | movement | 31 March | |
| of period | in funds | 2022 | |
| £ | £ | £ | |
| Unrestricted fund | - | 108,385 | 108,385 |
| __ | __ | __ | |
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted fund | 125,912 | (17,527) | 108,385 |
| __ | __ | __ |
9 CONTROL
The Charity is controlled by the Board of Trustees/Directors.
10 RELATED PARTY DISCLOSURES
There were no related party transactions during the period.
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