**Charity number: 1195694**
## **JAMES COWPER KRESTON FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 APRIL 2023**
## **JAMES COWPER KRESTON FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent examiner's report**|6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 16|
**JAMES COWPER KRESTON FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2023**
|**Trustees**|A Cowie|
|---|---|
||A Peal|
||P Snell|
|**Charity registered**
**number**
1195694
**Principal office**
James Cowper Kreston LLP
Reading Bridge House
Reading Bridge
Reading
Berkshire
RG1 8LS
**Independent examiners**
Monahans
Chartered Accountants
Hermes House
Fire Fly Avenue
Swindon
SN2 2GA
**Bankers**
HSBC UK Bank plc
9 High Street
Bracknell
Berkshire
RG12 1DN
**Solicitors**
Field Seymour Parkes LLP
1 London Street
Reading
Berkshire
RG1 4PN||
Page 1
## **JAMES COWPER KRESTON FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2023**
The Trustees present their annual report together with the financial statements of the James Cowper Kreston Foundation for the year 1 May 2022 to 30 April 2023.
## **Objectives and activities**
## **Policies and objectives**
The objects of the James Cowper Kreston Foundation (the "Charity") are to further such charitable purposes (charitable under English law) as the Trustees see fit from time to time.
The Charity has been set up to help charities achieve their goals and to support our local community by awarding grant funding for specific charity projects (i.e. not the general running of the charity), which will make a positive impact. The Charity aims to provide financial support to registered charities across a broad range of sectors within the Berkshire, Hampshire, and Oxfordshire regions.
Most of the funds are obtained from donations from James Cowper Kreston, however the Charity also runs its own fundraising activities.
The Charity aims to not only provide support to local charities through grant funding, but also by forming a lasting relationship which will benefit the charities and their local communities going forwards.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Grant-making policies**
The requirements which grant applications must meet in order to be eligible for grant funding are:
- The applicant must be a registered charity;
- The application must be for a project within the Berkshire, Hampshire and Oxfordshire regions;
- The application must be for a specific project; and
- The applicant must not be a current client of James Cowper Kreston or one of its associated entities.
Applications are reviewed by the Nominations Committee, who then propose a chosen few to the board of Trustees for consideration.
## **Volunteers**
The Charity is run by the Nominations Committee, a committee formed of volunteers of James Cowper Kreston staff. The Trustees would like to thank the Committee for all their hard work during the year, as well as their ongoing commitment and support.
Page 2
## **JAMES COWPER KRESTON FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **Achievements and performance**
## **Main achievements of the Charity**
During the year, the Charity conducted its second round of grant funding. Once again, the number of applications received totalled over 70. After careful review and deliberation by the Nominations Committee, four wonderful charities were selected to receive grant funding for their projects, covering a wide range of charitable activities and locations. These charities were:
Rosetta Life Donnington Doorstep RABBLE Theatre Time to Talk West Berkshire
In total, an impressive £18,350 was made in grant funding across the above charities.
The Nominations Committee have been out to see all of the Charities and met with their volunteers, and some of their beneficiaries, and will be keeping in touch with them to track the progress of the projects we have supported.
## - Case study Donnington Doorstep
Donnington Doorstep is an independent, community-based family centre delivering a range of universal and specialist services. They are a home from home drop-in for children, young people and their families, as well as a hub for local community activity. Their aim is to increase happiness and emotional wellbeing for local children, young people and their families, and to support good mental and physical health. They want to improve life chances for the socially excluded children and young people they work with and enable them to realise their full potential.
We chose to support their ‘Garden Make Over’ project. The garden make over will improve the environmental and access aspects for the family centre outdoor space. Making the space more open will increase its versatility and will create opportunities for multi-use by the under 5s sessions and youth club members. The charity’s play ethos is centred around environmental focus, outdoor learning and play experiences. Having the garden makeover will mean service users will take up the opportunity to be outside more, which we know has huge mental health and wellbeing benefits for the whole family.
## Case study - Rosetta Life
Rosetta Life offers those living with life-limiting conditions the creative means to explore personal narratives of illness and memory, as well as convey these live or online to an audience of their choice. Their vision is to ensure that everyone living with a serious illness has the potential to lead a full creative life, and that cultural activities are accessible to all.
The project we funded is their ‘Healing Landscapes’ project. In 2022 the charity formed a partnership between theatre students at Reading University and the Reading Stroke ambassadors. Together they explored how the natural environment has supported recovery. The funding will allow the charity to create an audio recording of stories about their relationship to the Thames, and a 360 film of a journey along the Thames co-created with Reading stroke ambassadors. The film will be used to support stroke survivors in neuro rehab wards in Reading. Evidence shows VR has positive impacts on people in recovery, supporting acceptance of newly acquired disabilities. The immersive filmed content will be available on the hospital wards, offering patients in the stroke unit the opportunity to revisit their local landscapes whilst hearing positive stories of recovery told by those with lived experience of a stroke.
Page 3
## **JAMES COWPER KRESTON FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
## **Achievements and performance (continued)**
We are very much looking forward to seeing how all the charities who received grants are progressing with their projects and the impact they are having on their beneficiaries are wider communities.
For more information on the charities funded, see www.jamescowperkrestonfoundation.co.uk.
## **Financial review**
During the year, the Charity received donations of £36,502 (2022: £38,148) from James Cowper Kreston, comprising donations of £36,052 (2022: £33,000) and donations in kind of £450 (2022: £5,148). We would like to thank the partners for their continued generosity and support.
Income generated from fundraising activities during the year was £2,562 (2022: £nil).
Expenditure totalled £19,822 (2022: £36,428), comprising of grants paid of £18,350 (2022: £30,320) and support costs of £1,472 (2022: £6,108).
The resulting surplus was £19,242 (2022: £1,720).
Unrestricted reserves at the year end were £20,962 (2022: £1,720).
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves policy**
The Charity's policy is to maintain sufficient reserves to be able to cover 12 months' of support costs. This is considered the minimum amount by the Trustees in order for the Charity to continue functioning for the foreseeable future.
Free reserves at the year end were £20,962 (2022: £1,720), which was significantly above the support costs for the period of £1,472. The Trustees consider this adequate to cover support costs for the year to come.
Page 4
## **JAMES COWPER KRESTON FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2023**
In the coming year, the reserves will be used to provide grant funding to charities, but also to facilitate growing the fundraising activities of the charity.
## **Structure, governance and management**
## **Constitution**
James Cowper Kreston Foundation is a charitable incorporated organisation, registered charity number 1195694, and is constituted under a Trust deed.
## **Methods of appointment of new Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **P Snell** Chair of Trustees Date:
Page 5
## **JAMES COWPER KRESTON FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2023**
## **Independent Examiner's Report to the Trustees of James Cowper Kreston Foundation ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 April 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated:
James Gare
FCA DChA
Monahans Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Page 6
## **JAMES COWPER KRESTON FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023**
|**Note**
**Income from:**
Donations
3
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**year ended**
**30 April**
**2023**
**£**
**39,064**
**39,064**
**19,822**
**19,822**
**19,242**
**1,720**
**19,242**
**20,962**|**Total**
**funds**
**year ended**
**30 April**
**2023**
**£**
**39,064**
**39,064**
**19,822**
**19,822**
**19,242**
**1,720**
**19,242**
**20,962**|Total
funds
period ended
30 April
2022
£
38,148
38,148|
|---|---|---|---|
||||36,428
36,428|
||||1,720|
||||-
1,720
1,720|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 7
## **JAMES COWPER KRESTON FOUNDATION**
**BALANCE SHEET AS AT 30 APRIL 2023**
|**Note**
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total net assets**
**Charity funds**
Unrestricted funds
10
**Total funds**|**22,052**
**(1,090)**|**2023**
**£**
**20,962**
**20,962**
**20,962**
**20,962**|33,000
(31,280)|2022
£
1,720|
|---|---|---|---|---|
|||||1,720|
|||||1,720|
|||||1,720|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**----- Start of picture text -----**
................................................ ................................................
P Snell A Peal
(Chair of Trustees)
Date:
**----- End of picture text -----**
The notes on pages 9 to 16 form part of these financial statements.
Page 8
## **JAMES COWPER KRESTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **1. General information**
James Cowper Kreston Foundation is a charitable incorporated organisation registered in England and Wales with charity number 1195694. The principal address of the Charity is James Cowper LLP, Reading Bridge House, Reading Bridge, Reading, Berkshire, RG1 8LS.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
James Cowper Kreston Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound
## **2.2 Going concern**
The Trustees believe that there are no material uncertainties related to the Charity's ability to continue as a going concern.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 9
## **JAMES COWPER KRESTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **2. Accounting policies (continued)**
## **2.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.6 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.7 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
## **3. Income from donations**
|Donations
Donations in kind
Fundraising
Total 2022|**Unrestricted**
**funds**
**year ended**
**30 April**
**2023**
**£**
36,052
450
2,562
39,064
38,148|**Total**
**funds**
**year ended**
**30 April**
**2023**
**£**
**36,052**
**450**
**2,562**
**39,064**
38,148|Total
funds
period ended
30 April
2022
£
33,000
5,148
-
38,148|
|---|---|---|---|
|||||
Page 10
## **JAMES COWPER KRESTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **4. Analysis of grants**
|Grants payable
Total 2022|**Grants to**
**institutions**
**year ended**
**30 April**
**2023**
**£**
18,350
30,320|**Total**
**funds**
**year ended**
**30 April**
**2023**
**£**
**18,350**
30,320|Total
funds
period ended
30 April
2022
£
30,320|
|---|---|---|---|
|||||
## **Grants payable to institutions**
The Charity has made the following material grants during the year:
|Rosetta Life
Donnington Doorstep
RABBLE Theatre
Time to Talk|**2023**
**£**
**3,470**
**5,000**
**5,000**
**4,880**|
|---|---|
||**18,350**|
## **5. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Expenditure on charitable activities
Total 2022|**Unrestricted**
**funds**
**year ended**
**30 April**
**2023**
**£**
19,822
36,428|**Total**
**year ended**
**30 April**
**2023**
**£**
**19,822**
36,428|Total
period ended
30 April
2022
£
36,428|
|---|---|---|---|
|||||
Page 11
## **JAMES COWPER KRESTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **6. Analysis of expenditure by activities**
|Expenditure on charitable activities
Total 2022|**Grant**
**funding of**
**activities**
**year ended**
**30 April**
**2023**
**£**
18,350
30,320|**Support**
**costs**
**year ended**
**30 April**
**2023**
**£**
1,472
6,108|**Total**
**funds**
**year ended**
**30 April**
**2023**
**£**
**19,822**
36,428|Total
funds
period ended
30 April
2022
£
36,428|
|---|---|---|---|---|
||||||
## **Analysis of support costs**
|Legal and professional fees
Website costs
Bank charges
Governance costs|**Total**
**funds**
**year ended**
**30 April**
**2023**
**£**
**-**
**450**
**12**
**1,010**
**1,472**|Total
funds
period ended
30 April
2022
£
3,420
1,728
-
960
6,108|
|---|---|---|
## **7. Independent examiner's remuneration**
||**Period**||
|---|---|---|
||**ended**|period ended|
||**30 April**|30 April|
||**2023**|2022|
||**£**|£|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**842**|800|
Page 12
## **JAMES COWPER KRESTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
## During the year ended 30 April 2023, no Trustee expenses have been incurred (2022 - £NIL).
## **9. Creditors: Amounts falling due within one year**
|Grants payable
Accruals|**2023**
**£**
**80**
**1,010**
**1,090**|2022
£
30,320
960|
|---|---|---|
|||31,280|
Page 13
## **JAMES COWPER KRESTON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **10. Statement of funds**
|**Statement of funds - current year**
**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds|**Balance at 1**
**May 2022**
**£**
**1,720**
Balance at
1 September
2021
£
-|**Income**
**£**
**39,064**
Income
£
38,148|**Expenditure**
**£**
**Balance at**
**30 April**
**2023**
**£**
**(19,822)**
**20,962**
Expenditure
£
Balance at
30 April 2022
£
(36,428)
1,720|**Balance at**
**30 April**
**2023**
**£**
**20,962**|
|---|---|---|---|---|
Page 14
## **JAMES COWPER KRESTON FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **11. Summary of funds**
## **Summary of funds - current year**
|General funds
**Summary of funds - prior year**
General funds|**Balance at 1**
**May 2022**
**£**
**1,720**|**Income**
**£**
**39,064**
Income
£
38,148|**Expenditure**
**£**
**Balance at**
**30 April**
**2023**
**£**
**(19,822)**
**20,962**
Expenditure
£
Balance at
30 April 2022
£
(36,428)
1,720|**Balance at**
**30 April**
**2023**
**£**
**20,962**|
|---|---|---|---|---|
## **12. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Current assets
22,052
Creditors due within one year
(1,090)
**Total**
20,962
**Analysis of net assets between funds - prior year**
Unrestricted
funds
2022
£
Current assets
33,000
Creditors due within one year
(31,280)
**Total**
1,720|**Total**
**funds**
**2023**
**£**
**22,052**
**(1,090)**
**20,962**
Total
funds
2022
£
33,000
(31,280)
1,720|
|---|---|
Page 15
## **JAMES COWPER KRESTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023**
## **13. Related party transactions**
The Charity was set up by the partners of James Cowper Kreston, who are the Charity's main funders. During the year, two partners acted as Trustees of the Charity.
During the year, the Charity received donations of £36,052 (2022: £33,000) from the partners of James Cowper Kreston.
During the year, the Charity received donations in kind of £450 (2022: £5,148) from the partners of James Cowper Kreston.
Page 16