## **SECURIS FOUNDATION CIO**
# **TRUSTEES’ ANNUAL REPORT**
**FOR THE PERIOD 30 APRIL 2021 TO 31 December 2021**
**Registered Charity No. 1194300**
**Company Registration No. CE026280**
## **Trustees’ Report For the year ended 31 December 2021**
## **Reference and Administrative Information**
**Charity Name** Securis Foundation **Charity Registration Number** 1194300 Registered 30 April 2021 **Company Registration Number** CE026280 Registered 30 April 2021 **Charity’s Principal Address** 12[th] Floor 110 Bishopsgate London, EC2N 4AY
## **Trustees**
Mr E Nordhus Appointed 30 April 2021 Mr V Nilsen Appointed 30 April 2021 Ms T Auddy Appointed 30 April 2021 Mr J Ford Appointed 30 April 2021 Mrs J Mills Appointed 30 April 2021 Mr Aaron MacFarlane Appointed 30 April 2021
## **Trustees’ Report**
## **For the year ended 31 December 2021**
The trustees present their report along with the consolidated financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared based on the accounting policies set out in note 1 to the financial statements and comply with the charity’s trust deed. Securis Foundation is a charity registered with the Charity Commission under registration number 1194300.
## **Background**
The Securis Foundation was established in April 2021 as an employee-led initiative; born out of a resolve to provide greater focus on corporate social responsibility and what employees could do to give back both in the local community and further afield.
## **Objectives and Activities**
The Securis Foundation's general purpose is to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time for the public benefit.
This currently includes a focus on, but is not limited, to global disaster and pandemic relief and local community support initiatives. Causes are considered and donations are made in line with our constitution and grant making policy.
In setting our programme each year we have regard to the Charity Commission’s general guidance on public benefit. The trustees always ensure that the programmes we undertake are in line with our charitable objects and aims.
## **Achievements and Performance**
We are in the early ramp-up stages of the Securis Foundation, having established the foundation on 30 April 2021. The Securis Foundation was established with an initial donation of £3,000 from Securis Investment Partners LLP and a Securis Group staff Christmas raffle in December 2021 to start our fundraising efforts. Thanks to the generosity of the staff, a total of £2,456 was raised which has been earmarked for deployment in 2022. We plan to use these funds, and any further amounts raised, to support initiatives such as natural disaster and pandemic relief or community support addressing food and child poverty.
## **Plans for the Future**
We plan to continue a gradual ramp up of activities over the next two years, if possible broadening our audience for donations beyond Securis Group staff. We are exploring the potential for strategic third-party partnerships for allocation of grant money, ensuring all grants made will be as impactful as possible.
## **Trustees’ Report**
## **For the year ended 31 December 2021**
## **Financial Review**
During the period 30 April 2021 to 31 December 2021, the net funds from donations made by Securis Investment Partners LLP and Securis Group staff was £5,429. This income is earmarked for distribution in 2022.
## **Grant Making Policy**
## _**Charitable purpose and objective**_
The Board of Trustees shall, in their sole discretion and in line with the procedures set out in the governing document, apply funds and consider distribution of beneficial donations in accordance with the charitable purposes and objectives of the Charity.
## _**Priorities for support**_
The number of causes that can be supported by the trustees is necessarily limited to the amount of available funds for distribution each year. Trustees will determine current priorities on a rolling basis guided by the Foundations purpose and is deemed as charitable in law as the trustees see fit from time to time for the public benefit.
The priorities for support will be reviewed by the trustees on a periodic basis and may be changed depending upon circumstances and the perceived effectiveness of the application of funds. Any change to these priorities must still fulfil the charitable purpose and objectives of the Charity.
## _**Principles applied in determining support**_
In making donations, the trustees will apply the following principles;
1. The trustees will consider any charitable initiative nominated by a fellow trustee for consideration or any known situations that are eligible for consideration.
2. Each potential donation will be considered on its own merits. Where situations have been previously considered (whether successful or not) any due diligence undertaken to reach an earlier decision will be made available and considered by the trustees.
3. The trustees will carry out sufficient due diligence to ensure that the request or situation meets both the charitable purposes, and the priorities for support set out in this policy.
## _**Applicant and partner due diligence**_
Prior to making any contribution, the Board of Trustees must be comfortable that sufficient due diligence on any beneficiary or potential beneficiary has been satisfactorily undertaken in line with current Money Laundering Regulations and the Bribery Act 2010 on a risk-based approach.
All trustees receive periodical training to ensure their competence is kept up to date.
The trustees will adopt a risk rated approach to due diligence. Risk factors will include but not limited to; the size of the donation; the geographical location in which the Charity is domiciled and where proceeds will be utilised to; the nature of the relationship between the Charity and the recipient.
## **Trustees’ Report**
## **For the year ended 31 December 2021**
Donation size will be an important risk factor and the larger the donation the greater will be the likely level of due diligence undertaken.
Based on a risk-rated approach, due diligence will be conducted and reviewed as and when appropriate. In cases where beneficiaries are supported for a significant period of time, additional due diligence will be undertaken on a change of circumstances that might impact the beneficiary, or in any case after a period of three years.
## _**Administration**_
The size of donations will be considered and assessed based on both the need and the capability of the identified charity to carry out their purpose in addition to available funds of the Foundation at the time.
For larger donations above £5,000, trustees should be confident of the purpose of the proposed donation including a thorough understanding of the work and the way in which the donation will be managed and applied.
With the agreement of the charity and the beneficiary, donations will be provided by means of an electronic banking transfer, charity website or cheque. The charity’s normal payment authorisation process will be applied to any payments.
## _**Decision making**_
The decision of the trustees on whether proceed with an intended donation is final.
## **Conflicts of Interest Policy**
## _**Purpose**_
This Policy has been devised to ensure that the Board of Trustees of Securis Foundation (‘’Charity’’) identifies and manages conflicts of interest arising in the course of operations between the Charity and the interests carried by the Trustees or any other personnel involved in the operations of the Charity to prevent any personal or outside interest from posing a risk or interfering with the operations of the Charity in the fulfilment of its charitable mission.
## _**Scope**_
This policy applies to any Trustee or personnel (‘’Staff’’) involved in the management of the Charity.
## **Trustees’ Report**
## **For the year ended 31 December 2021**
## _**Outside Business Interests**_
Staff may have outside business interests which could influence the Charity from fulfilling the charitable mission. The Charity has to ensure that the outside business interests are not in conflict with its mission.
The Charity’s Policy on outside interests requires all Staff to disclose any outside business interests they may carry upon accepting the role of Trustees or starting their functions and to request permission if a new business interest is taken up during their appointment. Furthermore, all Staff are required to attest annually that they have declared all outside business interests in accordance with this Policy.
All declared outside business interests are recorded in the Conflicts of Interest Register (‘’Register’’) which outlines the nature of the interest, time allocated to discharging the role, compensation arrangements, and any perceived or anticipated conflicts of interest in undertaking the outside interest. The Register is maintained by the Charity Secretary.
## _**Assessing and Managing Conflicts**_
For the purposes of identifying the types of conflict of interest that arise, or may arise, in the course of fulfilling the role of Trustee, the Charity must take into account, as a minimum, whether each Trustee:
1. is likely to make a direct or indirect financial gain, or avoid a financial loss, at the expense of the fulfilment of the charitable mission;
2. has an interest in the outcome of the charitable mission, which is distinct from the Charity's interest in that outcome;
3. has a financial or other incentive to favour the interest of themselves or of another subject they have an interest in over the interests of the Charity;
4. is employed or sits in the management board of any other entity that has a different interest from the interest served by the Charity in fulfilling the charitable mission.
## _**Conflicts Register**_
All outside business interests disclosed shall be recorded in the Register, which shall be reviewed as necessary and at least annually.
## _**Conflicts**_
The Charity must maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from posing a risk to the fulfilment of the Charity mission.
## _**Governance**_
An assessment of the different outside interests shall be made and, in case this will affect any member of Board of the Trustees to act independently and in the sole interest of the fulfilment of the charitable mission, the member shall be restricted from expressing their vote in the meetings of the Board of Trustees.
## **Trustees’ Report**
## **For the year ended 31 December 2021**
## **Objects, Structure, Governance and Management**
## _**Legal Objects**_
The foundation is a charitable incorporated organisation (CIO). Our Charity Commission registration number is 1194300.
Securis Foundation is a constituted under Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees dated 27 April 2021. The constitution defines the foundation’s Objects as being:
_“To advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time for the public benefit.”_
## _**Trustees and Organisational Structure**_
The charity’s constitution states that there must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees or appoint a new charity trustee. There is no maximum number of charity trustees that may be appointed to the CIO. The members of the CIO are its charity trustees. The composition of the board of trustees is reviewed as a minimum every two years, with new appointments requiring a majority vote of the board of trustees. All our trustees are unpaid.
## _**Trustees**_
Our trustees are responsible for setting the strategy and are responsible in law for the running of Securis Foundation.
Those who served during the year and up to date of signature of the financial statements were:
|Mr E Nordhus|Appointed 30 April 2021|
|---|---|
|Mr V Nilsen|Appointed 30 April 2021|
|Ms T Auddy|Appointed 30 April 2021|
|Mr J Ford|Appointed 30 April 2021|
|Mrs J Mills|Appointed 30 April 2021|
|Mr Aaron MacFarlane|Appointed 30 April 2021|
None of the members have any beneficial interest in the company. If the CIO is wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
## _**Principal Office**_
12[th] Floor 110 Bishopsgate London EC2N 4AY
## **Trustees’ Report**
## **For the year ended 31 December 2021**
## _**Trustees’ responsibilities in relation to the financial statements**_
The trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustee(s) 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume 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 ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. 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.
## **Relationship with Securis Investment Partners LLP**
## _**About Securis Investment Partners**_
Securis Investment Partners LLP, founded in London in 2005, is an independent, specialist investment manager of insurance risk-related assets.
## _**Relationship with Securis Foundation**_
The Securis Foundation is established by Securis Group staff to further charitable work for the public benefit. The Foundation is a registered charity and operated as an independent and standalone entity governed by its own distinct constitution and bound by its charitable objects and purposes. The charitable objects and purposes of the Foundation are distinguishable and unassociated with the business aims of Securis Investment Partners and its affiliates.
Approved by the trustees and signed on their behalf by:
Jonathan Ford (Oct 27, 2022 15:25 GMT+1)
**Jonathan Ford (Trustee)** 27[th] October 2022
## **Trustees’ Report**
## **For the year ended 31 December 2021**
## **Receipts and Payments**
|Note
**A1 Receipts**
Donations
**Sub Total**(Gross income for AR)
**A2 Assets and Investment Sales**
-
**Sub Total**
**Total Receipts**
**A3 Payments**
-
**Sub Total**
**A4 Assets and Investment Purchases**
-
**Sub Total**
**Total Payments**
**Net of Receipts/Payments**
**A5 Transfers between Funds**
**A6 Cash Funds Last Year**
**Cash Funds this Year End**|**Unrestricted**
**funds (£)**
**Restricted**
**funds (£)**
**Endowment**
**funds (£)**
**2021**
**Total (£)**
5,429
-
-
5,429|
|---|---|
||**5,429**
**-**
**-**
**5,429**|
||-
-
-
-|
||-
-
-
-|
|||
||**5,429**
**-**
**-**
**5,429**|
|||
||-
-
-
-|
||**-**
**-**
**-**
**-**|
||-
-
-
-|
||-
-
-
-|
|||
||**-**
**-**
**-**
**-**|
|||
|||
||**5,429**
**-**
**-**
**5,429**|
|||
||-
-
-
-
-
-
-
-|
||**5,429**
**-**
**-**
**5,429**|
## **Trustees’ Report**
## **For the year ended 31 December 2021**
## **Statement of Assets and Liabilities at the End of the Period**
|**B1 Cash Funds**
Bank Account
**Total Cash Funds**
**B2 Other Monetary Assets**
**B3 Investment Assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**|**Unrestricted funds**
**(£)**
**Restricted funds**
**(£)**
**Endowment funds**
**(£)**
5,429
-
-|
|---|---|
||**5,429**
**-**
**-**|
|||
||-
-
-
**Fund to which**
**asset belongs**
**Cost**
**(optional)**
**Current value**
**(optional)**
**-**
**-**
**-**
-
-
-
-
-
-|
Approved by the trustees and signed on their behalf by:
Jonathan Ford (Oct 27, 2022 15:25 GMT+1) **Jonathan Ford (Trustee)** 27[th] October 2022