DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Charity number: 1194712
Trustees' Annual Report and Accounts Period 28 May 2021 to 5 April 2022
DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Contents
| Reference and administrative details | 1 |
|---|---|
| Trustees' annual report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 8 |
DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Reference and Administrative Details
| Registered Charity number | 1194712 |
|---|---|
| Date of trust deed | 28 May 2021 |
| Charity address | 1 Grimston Road |
| St. Albans | |
| AL1 5EP | |
| Settlor | Richard Anthony Exact |
| Trustees | Richard Anthony Exact (appointed 28 May 2021) |
| Michael Mortimer Jones (appointed 28 May 2021) | |
| Philip John Exact (appointed 28 May 2021) | |
| Bank | Barclays |
| 16-18 St. Peter's Street | |
| St. Albans | |
| AL1 3NA | |
| Accountants | Charles Russell Speechlys LLP |
| 5 Fleet Place | |
| London | |
| EC4M 7RD | |
| Independent examiner | Jo Upshall FCA |
| Mercer & Hole LLP | |
| 72 London Road | |
| St. Albans | |
| AL1 1NS |
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DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts
Period 28 May 2021 to 5 April 2022
Trustees' Annual Report
The trustees present their annual report together with the accounts for the period 28 May 2021 to 5 April 2022 for The Etauliers Charitable Foundation ("the Charity").
Governing document
The Charity was created by a trust deed dated 28 May 2021.
Structure, governance and management
New trustees are appointed by the settlor during his lifetime.
The trustees expect to meet formally, with an agenda and minutes, several times per year to consider potential grant making proposals; to review progress of existing donations; and to address on-going management of the charity.
Purpose
The purpose of the Charity is to disburse the income it has received in donations towards such charitable purposes for the benefit of the public as the trustees from time to time in their absolute discretion decide in accordance with Christian values, including, in particular but not limited to the following:
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The relief of those in need because of age, youth, ill-health, disability, financial hardship or other disadvantage.
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The advancement of education.
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The relief of poverty anywhere in the world.
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The advancement of health by: 1) The promotion of public education and of research into mental health problems of all kinds, their prevention, causes, treatment and care, provided that the useful results of any such research are made public; and 2) The promotion of medical research provided that the useful results of any such research are made public.
Activities
The principal activities of the Charity are the consideration of suitable charities which it wishes to support, either based on applications received or pro-active selection of particular areas that the trustees believe to be appropriate.
Once donations are made the Charity expects to maintain an on-going relationship so that it can establish that donations are being used effectively and in line with the intended purpose.
Public benefit statement
The trustees have had regard to the guidance issued by the Charity Commission on public benefit. The trustees are satisfied that their duty to benefit the public is being fulfilled.
Achievements in the year
The Charity was established in May 2021 and during its first year has been establishing its governance structure. The principal donation from the settlor was received in December 2021.
In the first three months of 2022 the trustees began to evaluate suitable charities for support with the intention that grants would begin to be disbursed in the following financial year.
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DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts
Period 28 May 2021 to 5 April 2022
Trustees' Annual Report
Financial review
During this first financial period, the settlor added £510,000 to the Charity. No grants were made during the period. The Charity's funds as at 5 April 2022 were £632,684, including Gift Aid to be received from HMRC.
Risk management
The major risks to which the Charity is exposed, as identified by the trustees, have been reviewed and systems and procedures have been established to manage those risks. In particular, as mentioned above, the trustees do not enter into commitments in excess of their available cash resources and as a result they operate in a very low risk environment. Any drop in income received will be matched by an appropriate reduction in expenditure.
Signed on behalf of the trustees:
Richard Anthony Exact
3/2/2023
Date
DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Independent Examiner's Report
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the period 28 May 2021 to 5 April 2022.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW. 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 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Signed:
Jo Upshall FCA
3/2/2023
Date
DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Statement of Financial Activities
----- Start of picture text -----
Period 28 May
2021 to 5 April
2022
Unrestricted
funds
£
Incoming resources
Donations from the settlor 510,000.00
Gift Aid 127,500.00
Total incoming resources 637,500.00
Resources expended
Accountancy fee 3,000.00
Independent examiner's fee 1,800.00
Bank charges 16.00
Total resources expended 4,816.00
Net income 632,684.00
Total funds carried forward 632,684.00
----- End of picture text -----
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DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Balance Sheet
----- Start of picture text -----
As at 5 April
2022
£
Current assets
Cash at Barclays 509,984.00
Gift Aid debtor 127,500.00
Creditors: accounts falling due within one year
Accountancy fee (3,000.00)
Independent examiner's fee (1,800.00)
Net assets 632,684.00
Funds of the charity
Unrestricted funds 632,684.00
Total funds 632,684.00
Signed on behalf of the trustees:
----- End of picture text -----
Richard Anthony Exact 3/2/2023
Date
DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Notes to the Accounts
Note 1 Basis of accounts preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Note 2 Going concern
The trustees are satisfied that the charity has sufficient funds to carry out its activities and that the charity can continue as a going concern.
Note 3 Accounting policies
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when:
the charity becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SoFA when the SORP general income recognition criteria are met.
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Note 4 Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity
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DocuSign Envelope ID: F4F85EA6-25B7-4FFA-822B-6599C29EB1D4
The Etauliers Charitable Foundation Accounts Period 28 May 2021 to 5 April 2022
Notes to the Accounts
Note 5 Trustees' expenses
No trustees' expenses have been incurred during the financial period.
Note 6 Related party transactions
There have been no related party transactions during the financial period.
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