**Charity number: 1195694** ## **JAMES COWPER KRESTON FOUNDATION** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 APRIL 2024** ## **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 2024** |**Trustees**|A Cowie| |---|---| ||A Peal| ||P Snell| |**Charity registered**
**number**
1195694
**Principal office**
James Cowper Kreston
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 2024** The Trustees present their annual report together with the financial statements of the James Cowper Kreston Foundation for the year 1 May 2023 to 30 April 2024. ## **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, Oxfordshire and London 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 2024** ## **Achievements and performance** ## **Main achievements of the Charity** During the year, the Charity conducted two rounds of grant funding and received a total of 119 applications. After careful review and deliberation by the Nominations Committee, ten (2023: four) wonderful charities were selected to receive grant funding for their projects, covering a wide range of charitable activities and locations. These charities were: Alexander Devine Children's Cancer Trust New Life Aurora New Dawn Hart Voluntary Action Longridge on the Thames Royal Berkshire NHS Foundation Trust Charity Team Charlie Oxford Film and Video Makers Limited Oxford City Farm Younger People with Dementia In total, an impressive £43,328 (2023: £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 - New Life New Life is a charity that is dedicated to raising money for special care baby units across the UK. They have helped many hospitals including, Swindon, Reading, Yeovil, Bristol, Oxford, Nottingham, and Basingstoke. The Charity was launched by Trevor Goodall in 1995 in memory of his sons Joshua and Samuel who were born 3 months early weighing just 1lb 1oz and 1lb 3oz. Sadly, neither survived past a week, but their struggle inspired Trevor to make a difference, launching New Life to raise funds for providing neo-natal equipment to as many special care baby units as possible, improving the chances of a new life surviving and thriving. Our funding is supporting their “Baby/Parent Loving Link” Project, providing The Royal Berks Hospital in Reading with a vCreate Video Link system, a secure video messaging link to minimise separation anxiety for parents of premature babies when their babies are spending long stints in the neonatal unit. ## Case study - Younger People with Dementia Younger People With Dementia has been providing unique, age-appropriate care, respite, health, and wellbeing support for those diagnosed with Young Onset Dementia (YOD) for the past 11 years. They are the only service dedicated to this age group serving the areas of East Berkshire, West Berkshire, Surrey Heath, Farnham and NE Hampshire. The funding will enable YPWD to provide 12 weekly equine therapy sessions to small groups of 8 people at a time, plus their carers, including transport and refreshments. Sessions will be supported by YPWD support workers so that beneficiaries can get the most out of the activities and feel safe and supported by people they trust and who know them well. Page 3 ## **JAMES COWPER KRESTON FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024** ## **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 £44,436 (2023: £36,502) from James Cowper Kreston, comprising donations of £43,986 (2023: £36,052) and donations in kind of £450 (2023: £450). We would like to thank the partners for their continued generosity and support. Income generated from fundraising activities during the year was £3,401 (2023: £2,562). Expenditure totalled £44,836 (2023: £19,822), comprising of grants paid of £43,328 (2023: £18,350) and support costs of £1,508 (2023: £1,472). The resulting surplus was £3,001 (2023: £19,242). Unrestricted reserves at the year end were £23,963 (2023: £20,962). ## **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 £23,963 (2023: £20,962), which was significantly above the support costs for the period of £1,508. 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 2024** 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: 27 February 2025 Page 5 ## **JAMES COWPER KRESTON FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2024** ## **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 2024. ## **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: James Gare Dated: 27th February 2025 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 2024** |**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**
**2024**
**£**
**47,837**
**47,837**
**44,836**
**44,836**
**3,001**
**20,962**
**3,001**
**23,963**|**Total**
**funds**
**2024**
**£**
**47,837**
**47,837**
**44,836**
**44,836**
**3,001**
**20,962**
**3,001**
**23,963**|Total
funds
2023
£
39,064| |---|---|---|---| ||||39,064| ||||19,822| ||||19,822| ||||19,242| ||||1,720
19,242| ||||20,962| 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 2024** ||||**2024**|**2024**|2023| |---|---|---|---|---|---| ||**Note**||**£**||£| |**Current assets**|||||| |Cash at bank and in hand||**25,023**||22,052|| |Creditors: amounts falling due within one|||||| |year|9|**(1,060)**||(1,090)|| |**Net current assets**|||**23,963**||20,962| |**Total net assets**|||**23,963**||20,962| |**Charity funds**|||||| |Unrestricted funds|10||**23,963**||20,962| |**Total funds**|||**23,963**||20,962| |The financial statements were approved and|authorised for issue by the Trustees and signed on their behalf by:||||| |................................................||................................................|||| |**P Snell**||**A Peal**|||| |(Chair of Trustees)|||||| |Date:27 February 2025|||||| 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 2024** ## **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 2024** ## **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 2023|**Unrestricted**
**funds**
**2024**
**£**
43,986
450
3,401
47,837
39,064|**Total**
**funds**
**2024**
**£**
**43,986**
**450**
**3,401**
**47,837**
39,064|Total
funds
2023
£
36,052
450
2,562| |---|---|---|---| ||||39,064| ||||| Page 10 **JAMES COWPER KRESTON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## **4. Analysis of grants** |Grants payable
Total 2023|**Grants to**
**institutions**
**2024**
**£**
43,328
18,350|**Total**
**funds**
**2024**
**£**
**43,328**
18,350|Total
funds
2023
£
18,350| |---|---|---|---| ||||| ## **Grants payable to institutions** The Charity has made the following material grants during the year: |Alexander Devine Children's Cancer Trust
New Life
Aurora New Dawn
Hart Voluntary Action
Longridge on the Thames
Oxford Film and Video Makers Limited
Team Charlie
Royal Berkshire NHS Foundation Trust Charity
Oxford City Farm
Younger People with Dementia|**2024**
**£**
**3,997**
**3,700**
**5,000**
**4,966**
**1,600**
**4,700**
**4,400**
**5,000**
**5,000**
**4,965**| |---|---| ||**43,328**| ## **5. Analysis of expenditure on charitable activities Summary by fund type** |Expenditure on charitable activities
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
44,836
19,822|**Total**
**2024**
**£**
**44,836**
19,822|Total
2023
£
19,822| |---|---|---|---| ||||| Page 11 **JAMES COWPER KRESTON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## **6. Analysis of expenditure by activities** |Expenditure on charitable activities
Total 2023|**Grant**
**funding of**
**activities**
**2024**
**£**
43,328
18,350|**Support**
**costs**
**2024**
**£**
1,508
1,472|**Total**
**funds**
**2024**
**£**
**44,836**
19,822|Total
funds
2023
£
19,822| |---|---|---|---|---| |||||| ## **Analysis of support costs** ## **7.** |Website costs
Bank charges
Governance costs
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|**Total**
**funds**
**2024**
**£**
**450**
**-**
**1,058**
**1,508**
**2024**
**£**
**1,062**|Total
funds
2023
£
450
12
1,010| |---|---|---| |||1,472| |||2023
£
1,008| Page 12 ## **JAMES COWPER KRESTON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## **8. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 30 April 2024, no Trustee expenses have been incurred (2023 - £NIL). ## **9. Creditors: Amounts falling due within one year** |Grants payable
Accruals|**2024**
**£**
**-**
**1,060**
**1,060**|2023
£
80
1,010| |---|---|---| |||| |||1,090| Page 13 **JAMES COWPER KRESTON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## **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 2023**
**£**
**20,962**
Balance at
1 May 2022
£
1,720|**Income**
**£**
**47,837**
Income
£
39,064|**Expenditure**
**£**
**Balance at**
**30 April**
**2024**
**£**
**(44,836)**
**23,963**
Expenditure
£
Balance at
30 April 2023
£
(19,822)
20,962|**Balance at**
**30 April**
**2024**
**£**
**23,963**| |---|---|---|---|---| Page 14 **JAMES COWPER KRESTON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## **11. Summary of funds** ## **Summary of funds - current year** |General funds
**Summary of funds - prior year**
General funds|**Balance at 1**
**May 2023**
**£**
**20,962**
Balance at
1 May 2022
£
1,720|**Income**
**£**
**47,837**
Income
£
39,064|**Expenditure**
**£**
**Balance at**
**30 April**
**2024**
**£**
**(44,836)**
**23,963**
Expenditure
£
Balance at
30 April 2023
£
(19,822)
20,962|**Balance at**
**30 April**
**2024**
**£**
**23,963**| |---|---|---|---|---| ## **12. Analysis of net assets between funds** ## **Analysis of net assets between funds - current period** |**Unrestricted**
**funds**
**2024**
**£**
Current assets
25,023
Creditors due within one year
(1,060)
**Total**
23,963
**Analysis of net assets between funds - prior period**
Unrestricted
funds
2023
£
Current assets
22,052
Creditors due within one year
(1,090)
**Total**
20,962|**Total**
**funds**
**2024**
**£**
**25,023**
**(1,060)**
**23,963**
Total
funds
2023
£
22,052
(1,090)
20,962| |---|---| Page 15 ## **JAMES COWPER KRESTON FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## **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 £43,986 (2023: £36,052) from the partners of James Cowper Kreston. During the year, the Charity received donations in kind of £450 (2023: £450) from the partners of James Cowper Kreston. Page 16