CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 2911212021 To 3111012022 Charity name: BGF Foundation Charity registration number: 1197304 Objectives and Activities SORP reference Summary of the purposes of the charity as set out in its governing document Para 1.17 The BGF Foundation is focused on the following 5 charitable purposes.. the prevenlion or relief of poverty, the advancement of education, the advancement of health or the saving of lives, the advancement of environmental protection or improvement, and the relief of those in need by reason of age, youth. ill health, disability, financial hardship or other disadvanta The BGF Foundation provides grants and non-financial support to charitable organisalions in the United Kingdoml Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Statement confimiing whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit Para 1.17 and Para1.18 The BGF Foundation trustees have had regard to the guidance provided on public benefit. They have had training on this guidance and taken it into account when considering which charitable organisalions to rant to. Additional information {optionall You ma choose to include further statements where relevant about.. SORP reference The Charity Trustees intend to focus their grant making activities towards causes that are making a meaningful impact on improving the life outcomes of disadvantaged children. young people and adults. To ensure a broad range of charities have the ability to apply for a grant, the Charity Trustees will focus on the following 5 charitable purposes under the Charities Act 2011 because improving life outcomes may come within any one ofthese purposes.. the prevention or relief of poverty., the advancement of education., the advancement of health or the savin Para 1.38 Policy on granl making lives., the advancement of environmental protection or improvement., and the relief of those in need by reason of age, youth, ill health, disabilrty, financial hardship or other disadvantage. The Charity Trustees, mission is to provide grants to charities that focus on their local geographical area in providing a meaningful impact on the life outcomes of disadvantaged children, young people and adults. The Charity Trustees believe that life outcomes are improved when people a) are heard, protected and nurtured, b) feel secure and have a sense of belonging and c) can move forward with self-esteem and dignity. It is anticipated that the grant recipients will mostly be working in areas which are within the locality of the offices of Business Growth Fund Ltd {"BGF"}. The Charrty Trustees intend to make two lypes of grant- ongoing grants to 'Key Relationship. charities and one-off rants lo other charities. NIA Para 1.38 Policy on social investment including program related investment NIA Para 1.38 Contribution made by volunteers Other Achievements and Performance SORP r&feren This was the initial year of the BGF Foundation's setup phase. The Foundation's primary objective is to award meaningful and impactful grants to charitable organisations. This year we undertook key activities including the recruitment of board trustees, the development of policies and procedures, strategy fomiulation, and exploration of potential fundraising opportunities. Summary ofthe main achievements of the charity, identifying the difference the charity's work has made lo the circumstances of its beneficiaries and any wider benefits to society as a whole. Para 1.20 During the initial phase, the BGF Foundation successfully recruited six trustees to form its goveming board. These trustees were carefully selected for their expertise and experience in relevant fields, thereby providing the foundation with a robust and effective governance structure. The Foundation appointed its first full-time staff member, who brought valuable experience in charity management. This individual was seconded from BGF, adding expertise to the Foundation during the formative phase. A major focus during the establishment phase was the formulation of policies and procedures lo gLtide the foundation's operations. These policies encompassed grant awarding procedures, organisalional assessment criteria, and strategies for effective grant alloGation. Extensive research was conducted to identify potential beneficiary organisations. Comprehensive evaluations of various charitable entities and academic literature were undertaken to ascertain the areas where the Foundation could make the most significant impact with ils grants. The BGF Foundation explored opportunities to support charities beyond financial assistance. This included assessing avenues lo provide non-financial support and pro bono expertise to these organisations. The Foundation's staff and ne￿orkS were assessed for their potential in delivering such support services. The establishment phase also involved a thorough examination of fundraising potential. Various strategies were evaluated to engage potential donors effectively and raise additional funds to support the chosen charitable causes. The diligenl efforts made during the establishment phase have laid a strong foundation for the BGF Foundation. The establishment of a capable board of trustees, the recruitment of experienced charity management personnel, and the development of comprehensive policies and strategies have positioned the foundation to make meaningful and impactful grants in the coming years. In conclusion, the first year of the BGF Foundation was dedicated to its establishment phase, where significant strides were made in building a solid governance structure, formulating essential policies and strategies, and assessing potential avenues for fundraising and non- financial support. The Foundation is now poised lo make a substantial difference in the charitable sector, supporting worthy organisatians and making a positive impact in the ears to come. Additional infonnation (optionall You ma choose to include further statements where relevant about.. NIA Achievements against objectives set Para 1.41 NIA Performance offundraising activities against objectives set Para 1.41 NIA Investment performance against objectives Para 141 other Financial Review Review of the charity's financial position at the end of the period Parn121 The charity was in setup phase and re￿iVed a single donation. The charity is allocated funds from its corporate sponsor BGF which will be rovided in subse uent ears. The charity holds reserve5 for the purposes of paying the grants it has awarded and anticipated expenditure in the event of losure. £0 The charity was in setup phase for its first year of operation and had no expenditure or rants awarded. NIA statement explaining the policy for holding reserves stating why they are held Para 1.22 Amount of reseNes held Reasons for holding zero reserves Para 1.22 Para 1.22 Details of fund materially in deficit Explanation of any Un￿rtaIntieS about the charity continuing as a going oncem Para 1.24 Para 1.23 There are no uncertainties relating to the charity continuing as a going concem. Additional infonnation (optional) You ma choose to include further slatements where relevant about.. NIA The charity's principal sources of funds (including any fundraising) Para 1.47 NIA Investment policy and objectives including any social investment policy adopted Para 1.46 NIA A description of the principal risks facing the charity Para 146 Other Structure, Governance and Management Description of charity's trusts.. To advance such Charitable purposes {according lo the law of England anol Wales) as the trustees see fil from lime to lime. Constitulion Type of governing document Para 1.25 How is the charity constituted? Para 1 25 cio ated Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees Para 1 25 Appointed charity trustees Apart from the first charity trustees, every charity trustee appointed by the charity trustees ("appainted truslees.) must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecling individuals for appointment as appointed trustees, the Gharity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Nominated Trustees Business Growth Fund Limited (company number 07514847) (the "appointing body") may appoint up to six charity trustees {"nominaled trustees.). Any appointment must be made at a meeting held according to the ordinary practice of the appointing body. Each appointment must be for a term of three years. The appointment will be effective from the later of.. the date of the vacancy., and the dale on which the charity trustees or their secretary or Glerk are informed of the appointment. The person appointed need not be a member ofthe appointing body. 10.2.6 A trustee appointed by the appointing body has the same duty under clause 9.1 as the other charity trustees to act in the way he or she decides in good faith would be most likel to further the ur oses of the CIO. Additional information {optionall You ma choose to include further statements where relevant about.. The charit trustees will make available to each new charity trustee, on or before his or her first appointmenl.. Policies and procedures adopted for the indurtion and Iraining of trustees Para 1.51 11.1 a copy of the current version of this constitution,. and 11.2 8 copy of the CIO'S latest Trustees, Annual Re ort and statement of accounts. BGF Foundation is a member of NCVO (National Centre for Voluntary Organisationsl, ACEVO {Association of Chief Executives in Voluntary Organisationsl, ACF, (Association of Charitable Foundations), WLCF {Women Leaders in Corporate Foundations) and North East and Cumbria Foundations Network. The BGF Foundation has a services agreement with its corparate sponsor, BGF. The charity's organisational structure and any wider network with which the charity works Para 1.51 Relationship with any related parties Para 1 51 Other Reference and Administrative details Charit name Other name the charil uses Re istered charit number Charity's principal address BGF Foundation NIA 1197304 13-15 York Buildings, London WC2N 6JU Names of the charity trustees who manage the charity Date5 acted if not for whole aar Trustee name Office lif any) Name of person lor body) entitled toa olnt trustee ifan BGF Nominated Trustee Stephen Welton CBE Fiona Lowry Phil Male Charity Trustee Charity Trustee BGF Nominated Trustee Alistair Brew Appointed 31 January 2022 Neil Inskip Michelle Hill Appoinled 10 May 2022 Appointed 10 May 2022 BGF Nominated Trustee Charity Trustee 10 12 14 16 17 18 19 20 Cor orate trustees - names of the directors al the date the re Director name ortwasa roved Name of trustees holding title to property belonging to the charity Trustèè nam• Dates aet•d if not for whole ear Funds held as custodian trustees on behalf of others Description of the assets NIA held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity's objects NIA Details of arrangements for safe custody and segregation of such assets from the charity's own assets NIA Additional information (optional Names and addresses of advisers Ioptlonal Infomiationl Type of Name Address adviser Name of chief executive or names of senior staff members (Optional infomiationl Charlotte Moses Rains Exemptions from disclosure Reason for non-disclosure of ke ersonnel details Other o tional information Declarations The trustees declare that they have approved the trustees, report above. Signed on bohalf of the charity's trustees Signature{sl Full name{sl Position (eg Secretary, Chair, etc) Stephen Welton CBE Chair Alistair Brew Trustee Date **BGF Foundation 1197304 Receipts and payments accounts CC16a For the period** 12/29/2021 10/31/2022 **To from** ## **Section A Receipts and payments** |**Section A Receipts and payments**||||| |---|---|---|---|---| |**A1 Receipts**
Donations
**100**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**100**
**-**
**-**
**_Sub total_ -**
**_Total receipts_ 100**
**A3 Payments**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**_Sub total_ -**
**-**
**-**
**_Sub total_ -**
**_Total payments_ -**
**_Net of receipts/(payments)_ 100**
**A5 Transfers between funds**
**-**
**A6 Cash funds last year end**
**-**
**_Cash funds this year end_ 100**
**Unrestricted**
**funds**
**to the nearest £**
**_Sub total_**_(Gross income for AR)_
**A2 Asset and investment sales,**
**(see table).**
**A4 Asset and investment**
**purchases, (see table)**|**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Restricted**
**funds**|**to the nearest £**
**Endowment**
**funds**|**Total funds**
**to the nearest £**
**100**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**100**
**-**
**-**
**-**
**100**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**100**
**-**
**-**
**100**|**Last year**
**to the nearest £**| |||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**100**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**100**|**-**| |||||| |||**-**
**-**
**-**|**-**|| ||||**-**|**-**| ||||**-**|**-**| |||||| |||**-**|**100**|**-**| |||||| |||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| ||||**-**|**-**| |||||| |||**-**
**-**
**-**|**-**|| ||||**-**|| ||||**-**|**-**| |||||| |||**-**|**-**|**-**| |||||| ||**-**|**-**
**-**
**-**
**-**|**100**|**-**| ||**-**||**-**|**-**| ||**-**||**-**|**-**| ||**-**||**100**|**-**| ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
**B1 Cash funds**
**B2 Other monetary assets**
**B3 Investment assets**
**B5 Liabilities**
**B4 Assets retained for the**
**charity’s own use**
Signed by one or two trustees on
behalf of all the trustees|**Details**
Current account
**Details**
**Details**
**Details**
**Details**
Signature
**_Total cash funds_**
(agree balances with receipts and payments
account(s))|**to nearest £**
**to nearest £**
**100**
**-**
**-**
**-**
**-**
**-**
**100**
**-**
OK
OK
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
Print Name
**Unrestricted**
**funds**
**Restricted**
**funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Fund to which**
**asset belongs**
**Fund to which**
**asset belongs**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**|**to nearest £**
**Endowment**
**funds**| |---|---|---|---| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||OK| ||||**to nearest £**
**Endowment**
**funds**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of
approval| ||||| |||||