**Charity registration number 1198078 (England and Wales)** **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr N.J. Capstick-Dale (Chairman) Mrs L. Capstick-Dale Mr R. Jezierski **Charity number (England and Wales)** 1198078 **Principal address** 42 Avenue Road London NW8 6HS **Independent examiner** David Passey ACA 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Statement of cash flows|6| |Notes to the financial statements|7 - 12| ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **TRUSTEES REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, 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 1 January 2019). ## **Objectives and activities** The Foundation is a charitable incorporated organisation with the main objective being the relief of sickness and the preservation of health among babies and children residing permanently or temporarily in England. It is governed by a board of trustees. The foundation operates by only making donations to charitable causes, it does not directly operate in charitable activities. ## _Public benefit_ The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ During the year ended 31 March 2025, a donation of £100,000 was made to the Great Ormond Street Hospital Charity (GOSH Charity). A further £150,000 has been pledged to GOSH charity. ## **Financial review** At 31 March 2025, the state of affairs of the Foundation was satisfactory. Details of the income and expenditure for the period are shown on page 4. Investment income amounted to £106,268 (2024: £99,173) Grants payable totalled £106,000 and were made in accordance with the objects of the Foundation. The balance sheet on page 5 of the financial statements shows the financial position of the Foundation as at 31 March 2025. ## _Reserves policy_ It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## _Major risks_ The Governors regularly review the major risks which the Foundation faces and believe that maintaining the free reserves at the current level stated in the financial review above , combined with an annual review of the controls over key financial systems, will provide sufficient resources in the face of adverse conditions. The Governors have also examined other operational risks which they face and confirm they have established systems to mitigate any significant risks. - 1 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Structure, governance and management** The foundation is a charitable incorporated organisation governed by its constitution dated 10th December 2021. It is a registered charity, Charity number 1198078. The charity is governed by the Companies Act 2006 and the Charities Act 2011. The foundation’s main object is benefiting babies and young children in England. A staff team led by the Chairman have delegated responsibility for day-to-day activities. The trustees ensure proper governance of the Foundation’s grant-making in three ways. - Through grant-making principles which ensure that, even where there is donor or funding partner involvement, decisions are ultimately made by the Foundation’s trustees. These principles, together with the Gift Acceptance Policy clarify that funds given are the Foundation’s asset, albeit with degrees of restriction on their use, and that, where they are involved, donors are therefore recommending grants, not awarding them. - Through published grant-making criteria which set out the activities the trustees wish to support in furtherance of the Foundation’s charitable objectives. The criteria also include activities which the trustees do not wish to support because they do not consider them to be in line with the Foundation’s purpose. The trustees accept that they will on some occasions make grants outside published criteria but that in all such cases the activity supported will be charitable in law. - Through grant-making processes which set out how decisions are reached for awarding grants from different types of funds at the Foundation. The Trustees who served during the year and up to the date of signature of the financial statements were: Mr N.J. Capstick-Dale (Chairman) Mrs L. Capstick-Dale Mr R. Jezierski The Trustees report was approved by the Board of Trustees. Mr N.J. Capstick-Dale (Chairman) **Trustees** 16 January 2026 - 2 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** I report to the Trustees on my examination of the financial statements of The Nick and Laura Capstick-Dale Foundation (the charity) for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. 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 Charities Act 2011. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. ## **David Passey ACA** 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX 16 January 2026 - 3 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Investments|**3**|106,268|99,173| |**Total income**||106,268|99,173| |**Expenditure on:**|||| |Raising funds|**4**|5,666|13,491| |Charitable activities|**5**|109,449|55,439| |**Total expenditure**||115,115|68,930| |**Net income/(expenditure) and movement in funds**||(8,847)|30,243| |**Reconciliation of funds:**|||| |Fund balances at 1 April 2024||2,131,710|2,101,467| |**Fund balances at 31 March 2025**||2,122,863|2,131,710| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ |**Notes**
**Fixed assets**
Investment property
**12**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**14**|**2025**
**£**
**£**
2,050,000
118,398
(45,535)
72,863
2,122,863
2,122,863
2,122,863|**2024**
**£**
**£**
2,050,000
123,712
(42,002)
81,710
2,131,710
2,131,710
2,131,710|**2024**
**£**
**£**
2,050,000
123,712
(42,002)
81,710
2,131,710
2,131,710
2,131,710| |---|---|---|---| ||||2,131,710| ||||2,131,710| ||||2,131,710| The financial statements were approved by the Trustees on 16 January 2026 Mr N.J. Capstick-Dale (Chairman) **Trustees** - 5 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**Notes**
**Cash flows from operating activities**
Cash absorbed by operations
**15**
**Investing activities**
Investment income received
**Net cash generated from investing**
**activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**£**
106,268|**£**
(111,582)
106,268
-
(5,314)
123,712
118,398|**2024**
**£**
99,173|**£**
(59,277)
99,173
-
39,896
83,816
123,712| |---|---|---|---|---| - 6 - **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** The Nick and Laura Capstick-Dale Foundation is a Charitable Incorporated Organisation (CIO) registered in England and Wales. The address of the principal office is 42 Avenue Road, London, NW8 6HS. The Foundation works for the public benefit, the relief of those in need by reason of youth, ill-health, financial or other disadvantage through the provision of grants of financial assistance, in particular, but not exclusive to, babies and children residing permanently or temporarily in England. ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, 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 financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 7 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 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. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Investment property** Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. - 8 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Rental income|104,368|97,215| |Interest receivable|1,900|1,958| ||106,268|99,173| ## **4 Expenditure on raising funds** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Raising funds**||| |Property outgoings costs|5,666|13,491| - **5 Expenditure on charitable activities** ||**Charitiable**|**Charitiable**| |---|---|---| ||**activities**|**activities**| ||**2025**|**2024**| ||**£**|**£**| |**Direct costs**||| |Grant funding of activities (see note 6)|106,000|50,000| |**Share of support and governance costs (see note 7)**||| |Support|3,449|5,439| ||109,449|55,439| |**Analysis by fund**||| |Unrestricted funds|109,449|55,439| - 9 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **6 Grants payable** |**Grants payable**||| |---|---|---| ||**Charitiable**|**Charitiable**| ||**activities**|**activities**| ||**2025**|**2024**| ||**£**|**£**| |Grants to institutions:||| |Other|106,000|50,000| During the period the Foundation made a grant of £100,000 to the Great Ormond Street Hospital Charity (2024:£50,000), £5,000 to Tikva UK and £1,000 to Rays of Sunshine . Refer to the Trustees' Report for more details. ## **7 Support costs allocated to activities** |**Charitiable**
**activities**
**2025**
**£**
Bank charges
909
Sundry
40
Governance
2,500
3,449
**8**
**Net movement in funds**
**2025**
**£**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
2,500|**Total**
**2024**
**£**
899
40
4,500| |---|---| ||5,439| ||**2024**
**£**
4,500| ## **9 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **10 Employees** The average monthly number of employees during the year was: ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Total|-|-| ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 10 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **12 Investment property** |**Investment property**|| |---|---| ||**2025**| ||**£**| |**Fair value**|| |At 1 April 2024 and 31 March 2025|2,050,000| The fair value of the investment properties has been arrived at on the basis of a valuation carried out at the year end by the trustees. The valuation was made on an open market value basis for transactions between a willing buyer and a willing seller at arms length. ## **13 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other creditors
Accruals and deferred income|**2025**
**£**
14,402
31,133
45,535|**2024**
**£**
14,117
27,885| |||42,002| ## **14 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |||**At 1 April**|**Incoming**|**Resources**|**At 31 March**| |---|---|---|---|---|---| |||**2024**|**resources**|**expended**|**2025**| |||**£**|**£**|**£**|**£**| ||General funds|2,131,710|106,268|(115,115)|2,122,863| ||**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**| |||**2023**|**resources**|**expended**|**2024**| |||**£**|**£**|**£**|**£**| ||General funds|2,101,467|99,173|(68,930)|2,131,710| |**15**|**Cash generated from operations**|||**2025**|**2024**| |||||**£**|**£**| ||(Deficit)/surpus for the year|||(8,847)|30,243| ||Adjustments for:||||| ||Investment income recognised in statement of financial activities|||(106,268)|(99,173)| ||Movements in working capital:||||| ||Increase in creditors|||3,533|9,653| ||**Cash absorbed by operations**|||(111,582)|(59,277)| - 11 - ## **THE NICK AND LAURA CAPSTICK-DALE FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **16 Analysis of changes in net funds** The charity had no material debt during the year. - 12 -