## **Trustees’ Annual Report for the period**
## **From 21/01/2022 Period start date To 31/03/2023 Period end date**
## **Charity name: dyb3 Foundation**
## **Charity registration number: 1197616**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**The charity will carry out its purposes**
**by making grants**|
|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.|Para 1.17 and
1.19|**This year the charity has made grants to**
**six other charities that are registered**
**with the Charity Commission**|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**This has been noted by the trustees**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
||
SORP reference||
|---|---|---|
|Policy on grant making|Para 1.38|**The Trustees’ current funding priorities**
**are to focus on charities which support**
**young people, local communities and**
**advance the protection of the**
**environment**|
|Policy on social investment
including program related
investment|Para 1.38||
|Contribution made by
volunteers|Para 1.38||
|Other|||
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**The charity has made donations to**
**organisations working in the fields of**
**sport, literacy, food and clothing aid,**
**music and youth outdoor activity. These**
**are all smaller charities which will**
**benefit significantly from the grants**
**made.**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Achievements against
objectives set|Para 1.41||
|---|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41||
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**Total income £99251**
**Total expenditure £27793**
**Net income £71458**
**Funds c/f £71731**|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22||
|Amount of reserves held|Para 1.22||
|Reasons for holding zero
reserves|Para 1.22||
|Details of fund materially in
deficit|Para 1.24||
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23||
## **Additional information (optional)**
## You may choose to include further statements where relevant about:
|
The charity’s principal
sources of funds (including
any fundraising)|
Para 1.47|
**The principal source of funds is money**
**donated by the founders**|
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**CIO Association Constitution**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**CIO**|
|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||
## **Additional information (optional)**
## You may choose to include further statements where relevant about:
|
Policies and procedures
adopted for the induction
and training of trustees|
Para 1.51||
|---|---|---|
|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**
|Charity name|dyb3 Foundation|
|---|---|
|Other name the charity uses||
|Registered charity number|1197616|
|Charity’s principal address|70 Coombe Lane West, Kingston upon Thames, Surrey
KT2 7DA|
|||
**Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||WendyMorris|Chair and Founder|||
||Peter Morris|Trustee and Founder|||
||AntonyCox|Trustee|||
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## – Corporate trustees names of the directors at the date the report was approved
## **Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
Description of the assets 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
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
**Type of Name Address adviser**
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
## **Signature(s)[Wendy D Morris]**
**Full name(s)** Wendy Diane Morris
**Position (eg Secretary,** Chair **Chair, etc)**
**Date**
28/11/2023
# **Registered Charity 1197616**
## **DYB3 FOUNDATION**
**Financial Statements For the period ended**
**31 March 2023**
1
## **DYB3 FOUNDATION**
|**Contents**|**Pages**|
|---|---|
|Trustees’ report|**3**|
|Report of the independent examiner|6|
|Statement of fnancial activities|7|
|Balance sheet|8|
|Notes to the fnancial statements|9 - 12|
2
## **DYB3 FOUNDATION**
## **Trustees’ report**
The Trustees have pleasure in presenting first report covering the period from incorporation up to 31 March 2023.
## **Objectives and activities for the public benefit**
The Founders have set up the Foundation to benefit any purpose which is exclusively charitable under the laws of England and Wales.
The current funding priorities of the Trustees are to focus on supporting charities which:
- support young people and apprentices;
- support local communities; and
- advance the protection of the environment.
The Trustees believe these causes will benefit the community as a whole and therefore satisfy the requirements for public benefit.
## **Financial review**
During the period the Founders gifted £99,251 of investments into the Foundation. Set up costs of £9,540 were incurred and donations of £18,000 were made to charitable causes.
The net worth of the Foundation at the period end was £71,731 as shown on the Balance Sheet on page 8.
## **Investment strategy and risk**
The investment objective is to aim to protect the real value of the investment, subject to the amounts withdrawn for making donations over the expected life of the Foundation. This is achieved by investing in a general multi asset fund managed by Coutts.
## **Reserves policy**
All the funds of the Foundation are treated as an expendable endowment and may be distributed by the Trustees in future years. Sufficient funds are kept to ensure any committed donations can be paid in full and all running costs of the Foundation can be met as they fall due.
## **Future plans**
Currently the Trustees intend to continue to make further donations to causes they support at a similar level.
3
## **Structure, governance and management**
The Foundation was established as a Charitable Incorporated Organisation (CIO) and was registered with the Charity Commission in England and Wales on 21 January 2022, and its registered number is 1197616.
Currently all the administration of the Foundation is managed by the Trustees themselves. All the Trustees give their time freely and no Trustee was paid during the period.
There are no staff employed by the Foundation. This is expected to be the case for the foreseeable future.
## **Reference and administrative information**
Founders Peter J Morris Wendy D Morris
Trustees Wendy D Morris - Chair Peter J Morris Antony P Cox
Registered office 70 Coombe Lane West Kingston upon Thames KT2 7DA
Bankers Coutts & Co 440 Strand London WC2R 0QS
National Westminster Bank 5 Market Place Kingston upon Thames KT1 1JX
Investment Manager
Coutts & Co 440 Strand London WC2R 0QS
4
## **Trustees’ responsibilities in relation to the financial statements**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the Trustees must not approve the financial statements unless they are satisfied that they 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 in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records which are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by the Trustees and signed on their behalf
## **Wendy D Morris**
Wendy Morris Chair of Trustees
23 October 2023
5
## **DYB3 FOUNDATION**
## **Report of the Independent Examiner for period ended 31 March 2023**
Jonathan E B Law 34 Norbiton Avenue Kingston upon Thames Surrey KT1 3QR
2[nd] November 2023
## **Independent examiner’s report to the trustees of DYB3 FOUNDATION**
I report to the trustees on my examination of the accounts of the DYB3 FOUNDATION (the Foundation) for the year ended 31[st] March 2023.
## **Responsibilities and basis of report**
As the trustees of the Foundation 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 Foundation’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**
I have completed my examination. I confirm that no material 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 Foundation as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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: **J E B Law**
Name: Jonathan E B Law
Address: 34 Norbiton Avenue, Kingston upon Thames, Surrey KT1 3QR
7
Date: 2[nd] November 2023
## **DYB3 FOUNDATION**
## **Statement of financial activities Including income and expenditure account For period ended 31 March 2023**
|Notes
Income
Founders’ contribution
2
Investment Income
Total income
Expenditure
_Charitable activities_
Grant expenditure
Grant related support costs
3
Governance costs – set up fees
4
Bank charges
4
Total expenditure
Net income
Net gains/ (losses) on investments
Realised
Unrealised
Total funds carried forward|**£**
**99,251**
**-**|
|---|---|
||**99,251**|
||**18,000**
**9,540**
**253**|
||**27,793**|
|||
||**71,458**|
||**558**
**(285)**|
||**71,731**|
8
## **DYB3 FOUNDATION**
## **Balance sheet As at 31 March 2023**
|Note
Fixed assets
Listed investments
5
Total fxed assets
Current assets
Cash
Total current assets
**Net assets**
The funds of the charity
Expendable endowment fund
**Total charity funds**
The notes on pages 9 to 12 form part of these accounts
Approved by the Trustees on 23 October 2023|**31 March**
**2023**
**£**
**70,465**|
|---|---|
||**70,465**|
||**1,266**|
||**1,266**|
|||
||**71,731**|
||**71,731**|
||**71,731**|
|||
## **Wendy D Morris**
Wendy Morris Chair of Trustees
9
## **DYB3 FOUNDATION**
## **Notes to the financial statements For period ended 31 March 2023**
## **1 Accounting policies**
Charity information
The DYB3 Foundation is incorporated as a Charitable Incorporated Organisation, founded on 21 January 2022, and its registration with The Charity Commission for England and Wales, is number 1197616.
## **1.1 Basis of preparation and going concern**
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of fixed asset investments, and in accordance with the Charities Act 2011 and "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 1January 2019)"
The Foundation constitutes a public benefit entity as defined by FRS 102.
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. With respect to the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the Foundation are the level of investment return and the performance of investment markets (see the investment strategy and risk section in the Trustees' annual report for more information).
## **1.2 Fund accounting**
The Founders made an initial gift to the Foundation of £99,251. All the funds of the Foundation are treated as an Expendable Endowment.
## **1.3 Income recognition**
All income is recognised once the Foundation has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Dividends from investments are recognised at their record date.
Endowment funds from the Founder Trustees are recognised
10
when they are received by the Foundation’s investment manager.
## **1.4 Expenditure recognition**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis inclusive of any VAT which cannot be recovered. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Support costs are allocated to the activities either by direct attribution or an estimate of relative time involved. The majority of costs support the grant making activity and are so allocated.
The allocation of governance and support costs is analysed in note 4.
Governance costs comprise all costs involved in the public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to legal fees together with an allocation of support costs.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Foundation. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multiyear grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Foundation.
The costs of raising funds consist of investment management fees.
## **1.5**
## **Fixed asset investments**
Quoted investments are initially measured at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. All gains and losses, both realised and unrealised, are taken to the Statement of Financial Activities as they arise.
## **1.6 Debtors and creditors**
Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at the transaction price, net of transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the
11
arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand and deposits held at call with banks.
## **1.8 Contingent liabilities**
A contingent liability is identified and disclosed for those grants resulting from:
- a possible obligation which will only be confirmed by the occurrence of one or more uncertain future events not wholly within the Trustees' control; or
- a present obligation following a grant offer where settlement is either not considered probable; or
- the amount has not been communicated in the grant offer and that amount cannot be estimated reliably
## **1.9 Taxation**
The Foundation is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
|**2**
**Incoming resources**
Initial endowment
Investment income
Listed investments
Other interest
**3**
**Grant expenditure**
Grants paid during the period
Grants payable carried forward
Grant expenditure during the period
Grants made:
Cathedral Music Trust
Chance to Shine
Downe Activity Centre|**2023**
**£**
**99,251**
**-**
**-**|
|---|---|
||**99,251**|
||**2023**
**£**
**18,000**
**-**|
||**18,000**|
||**3,000**
**3,000**
**3,000**|
12
Fareshare **3,000** Read for Good **3,000** Uniform Exchange **3,000** Total grants expenditure **18,000**
## **4 Allocation of support and governance costs**
|**costs**||
|---|---|
|Basis of
apportionm
ent
Setup costs
Governance
Bank charges
100%
grants|Grant
making
£
Governan
ce
£
**2023**
**Total**
**£**
-
9,540
**9,540**
253
-
**253**|
||253
9,540
**9,793**|
|**5**
**Fixed asset investments**
Additions from Founders
Disposals
Unrealised investment losses
Market value 31 March 2023|**2023**
**£**
**99,251**
**(28,501)**
**(285)**|
|---|---|
||**70,465**|
All investments comprise listed investments. Unrealised investment gains / (losses) represent the difference between the fair value of the investments from inception and the end of the period, adjusting for investment transactions during the period.
## **6 Trustees’ remuneration and related party transactions**
Trustees received no emoluments, nor were they reimbursed any expenses during the period.
There were no related party transactions noted during the period.
13
Jonathan E B Law
34 Norbiton Avenue
Kingston upon Thames
Surrey KTI 3QR
2 November 2023
Independent examinerfs report to the trustees of DYB3 FOUNDATION
I report to the trustees on my examination of the accounts of the DY33 FOUNDATION (the
Foundation) for the year ended 31 March 2023.
Respon51billtle5 and basis of report
As the trustees of the Foundation you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 20111.the Act'l. I pOrt in respect of my
examination of the Foundation's accounts carried out under section 145 ofthe 2011 Act and in
carrying out my examination I have followed all the applicable Directions given by the Charity
Comfflission under section 145151{b} of the ACL
Independent examinerfs statrment
I have completed examinatiOA. I Ix)nfirm that no matwial matters have u)me to ry attention in
connection with the examinatlon giving me cause to believe that in any material spect.
l. accounting records We not kept in respett of the Foundation as wuired by section 130
of the Art; or
2. the accounts do not accord with those records.
I have no concems and have come across no other matters in conneciion wtth the examination to
which attention should be drawn in this rewirt in order to enable a proper understsnding of the
accounts to be reached.
Signed..
Name:
nathan E B Law
Address: 34 Norbiton Avenue. Kingston upon Thames, Surrey Kri 3QR
Date: 2n0 November 2023