Trustees’ Annual Report for the period
From 01 January 2023 to 31 December 2023
Charity name: Kester Foundation
Charity registration number: 1198870
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The object of the Kester Foundation is to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time. |
| 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 |
General charitable purposes. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have familiarised themselves with the Commission’s guidance issued on public benefit (PB1). |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference The charity is a grant-making foundation and makes donations to active UK registered Para 1.38 Policy on grant making charities. The Kester Foundation will only make grants to UK registered charities. Two of the major donors sit on the board. Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers 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 | Two of the trustees have contributed seed capital in order to fund a range of donations across a variety of UK registered charities: Macmillan Trust, Cancer Research UK, Bernardo’s, Prostate Cancer UK and Movember Foundation to name a few. |
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 | Please refer to the financial statements covering the same period. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Balances are held across three different types of bank accounts in order to maximise interest and liquidity. |
| Amount of reserves held | Para 1.22 | Please refer to the financial statements provided. |
| Reasons for holding zero reserves |
Para 1.22 | n/a |
| Details of fund materially in deficit |
Para 1.24 | n/a |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | n/a |
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 | |
|---|---|---|
| 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 | Charitable Incorporate Organisation (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 | The Trustee body must have a minimum of 3 Trustees and maximum of 12. If the number falls to 2, they can only act to appoint a new Trustee. All new trustees are appointed by Written Resolution of the member, Kester Capital LLP. |
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 | Kester Foundation |
|---|---|
| Other name the charity uses | n/a |
| Registered charity number | 1198870 |
| Charity’s principal address | 14-16 Bruton Place LONDON W1J 6LX |
Names of the charity trustees who manage the charity
| 1 2 3 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| Adam Maidment | 01/01/2023 – 31/12/2023 | Kester Capital LLP | ||
| Robert Cameron Crockett |
01/01/2023 – 31/12/2023 | Kester Capital LLP | ||
| Patricia Hamel | 01/01/2023 – 31/12/2023 | Kester Capital LLP |
– Corporate trustees names of the directors at the date the report was approved
Director name n/a
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| n/a | ||
Funds held as custodian trustees on behalf of others
Description of the assets n/a held in this capacity Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for n/a 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 adviser Name Address |
Type of adviser Name Address |
Type of adviser Name Address |
Type of adviser Name Address |
|---|---|---|---|
| Name of chief executive or names of senior staff members (Optional information) | |||
| Exemptions from disclosure Reason for non-disclosure of key personnel details n/a |
|||
| n/a |
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) Full name(s) Patricia Hamel Position (eg Secretary, Trustee Chair, etc) Date 12/09/2024
Kester Foundation
1198870
Receipts and payments accounts For the period 01/01/2023 31/12/2023 To from
CC16a
| Section A Receipts and payments | Section A Receipts and payments | |||||
|---|---|---|---|---|---|---|
| A1 Receipts | Unrestricted funds to the nearest £ 19.71 39,980.29 4.93 40,000.00 19,995.07 0.01 14.30 100,014.31 ~~0.00~~ 0.00 0.00 100,014.31 500.00 250.00 1,000.00 250.00 1,800.00 250.00 500.00 1,000.00 500.00 2,500.00 250.00 0.00 8,800.00 0.00 0.00 0.00 8,800.00 91,214.31 0.00 0.00 91,214.31 |
Restricted funds to the nearest £ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ~~0.00~~ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 |
Endowment funds to the nearest £ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ~~0.00~~ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 |
Total funds to the nearest £ 19.71 39,980.29 4.93 40,000.00 19,995.07 0.01 14.30 100,014.31 ~~0.00~~ 0.00 0.00 100,014.31 500.00 250.00 1,000.00 250.00 1,800.00 250.00 500.00 1,000.00 500.00 2,500.00 250.00 0.00 8,800.00 0.00 0.00 0.00 8,800.00 91,214.31 |
Last year - N/A to the nearest £ |
|
| 10/03/23 C Crockett donation | 19.71 | - | ||||
| 07/06/23 C Crockett donation | 39,980.29 | - | ||||
| 07/06/2023 C Crockett donation | 4.93 | - | ||||
| 07/06/2023 A Maidment donation | 40,000.00 | - | ||||
| 24/08/23 HMRC charities credit for Gift Aid | 19,995.07 | - | ||||
| 06/10/23 PayPal credit | 0.01 | - | ||||
| 2912/23 bank interest business reserve account |
14.30 | - | ||||
| Sub total(Gross income for AR) |
100,014.31 | - | ||||
| A2 Asset and investment sales, (see table). |
||||||
| ~~0.00~~ | ||||||
| 0.00 | - | |||||
| Sub total | 0.00 | - | ||||
| Total receipts A3 Payments |
||||||
| - | ||||||
| 08/06/23 Macmillan donation | 500.00 | - | ||||
| 15/06/23 Rivertime Boat Trust donation | 250.00 | - | ||||
| 06/07/23 Prostate Cancer UK donation | 1,000.00 | - | ||||
| 01/09/23 MNDA donation | 250.00 | - | ||||
| 05/09/24 Osborne Clarke legal costs | 1,800.00 | |||||
| 06/10/23 Lincoln College Vacation Project donation |
250.00 | - | ||||
| 06/10/23 Cancer Research UK donation | 500.00 | - | ||||
| 10/11/23 Sparkle (South Wales) donation | 1,000.00 | - | ||||
| 17/11/23 Movember Foundation donation | 500.00 | - | ||||
| 21/11/23 Barnardos donation | 2,500.00 | - | ||||
| 14/12/23 Wavebreakers 2023 donation | 250.00 | - | ||||
| 0.00 | - | |||||
| Sub total | 8,800.00 | - | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| 0.00 | ||||||
| 0.00 | ||||||
| Sub total | 0.00 | - | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| - | ||||||
| 91,214.31 | 0.00 | 0.00 | 91,214.31 | - | ||
| 0.00 | 0.00 | 0.00 | 0.00 | - | ||
| 0.00 | 0.00 | 0.00 | 0.00 | - | ||
| 91,214.31 | 0.00 | 0.00 | 91,214.31 | - |
Section B Statement of assets and liabilities at the end of the period CCXX R1 accounts (SS) 1
17/09/2024
| Categories B1 Cash funds |
Details | Unrestricted funds to nearest £ 0.00 |
Restricted funds to nearest £ 0.00 |
Endowment funds to nearest £ |
|---|---|---|---|---|
| 0.00 | 0.00 | - |
CCXX R2 accounts (SS)
17/09/2024
2
| 0.00 | 0.00 | - | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00 | - | |||||||||||
| Total cash funds | 0.00 | 0.00 | - | ||||||||||
| (agree | balances with receipts and payments | ||||||||||||
| account(s)) | Agreement Error | OK | OK | ||||||||||
| Unrestricted | Restricted | Endowment | |||||||||||
| Details | f d to nearest £ |
to | f d nearest £ |
f d to nearest £ |
|||||||||
| B2 Other monetary assets | 0.00 | 0.00 | - | ||||||||||
| 0.00 | 0.00 | - | |||||||||||
| 0.00 | 0.00 | - | |||||||||||
| 0.00 | 0.00 | - | |||||||||||
| 0.00 | 0.00 | - | |||||||||||
| 0.00 | 0.00 | - | |||||||||||
| Details | Fund to which asset belongs |
Cost | (optional) | Current value (optional) |
|||||||||
| B3 Investment assets | 0.00 | - | |||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| Details | Fund to which asset belongs |
Cost | (optional) | Current value (optional) |
|||||||||
| B4 Assets retained for the | 0.00 | - | |||||||||||
| charity’s own use | 0.00 | - | |||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| 0.00 | - | ||||||||||||
| B5 Liabilities | Details | Fund to which ~~liability relates~~ |
Amount due ~~(optional)~~ 0.00 |
When due ~~(optional)~~ |
|||||||||
| 0.00 | |||||||||||||
| 0.00 | |||||||||||||
| 0.00 | |||||||||||||
| 0.00 | |||||||||||||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Name | Date of approval |
||||||||||
| Patricia | Hamel | 12/09/2024 | |||||||||||
CCXX R3 accounts (SS)
17/09/2024
3
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees On accounts for the year ended Set out on pages |
Charity Name Kester Foundation |
Charity Name Kester Foundation |
Charity Name Kester Foundation |
|---|---|---|---|
| 31/12/2023 | Charity no (if any) |
1198870 | |
| 1-2 (remember to include the page numbers of additional sheets) |
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 12 / 2023 .
Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 I have completed my examination. I confirm that no material matters have
-
examiner's statement come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did 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.
- Please delete the words in the brackets if they do not apply.
Date: 17/09/2024
Signed: Name: Sophia Corrodi Relevant professional n/a qualification(s) or body (if any):
1
Oct 2018
IER
Flat 3
Address:
6 Monmouth Place
London W2 5SA
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
Oct 2018
IER