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2024-03-31-accounts

Trustees’ Annual Report for the period

From 01 April 2023 To 31 March 2024

Charity name: Seven Friends Foundation

Charity registration number: 1199444

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 To advance such charitable purposes
(according to the law in England and
Wales) as the trustees see fit from time to
time, in particular but not limited to
charitable causes that lack popular support
or do not receive public attention, in
particular but not exclusively by making
grants and providing advice.
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
Grant making.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The Trustees confirm that they have
complied with the duty in section 4 of the
Charities Act 2011 to have due
regard to the Charity Commission's general
guidance on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference
Policy on grant making Para 1.38 Policy available here:
https://sevenfriends.org/
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 During this reporting period the Seven
Friends Foundation held two grant rounds
with an open application process and
deadlines in April and August 2023.
Deadlines, criteria and the process for
applying are featured on the Seven Friends
Foundation website
(https://sevenfriends.org/).
Seven Friends Foundation received a total
of 63 applications - a very low figure as this
was the first year of operation and the grant
rounds were not widely advertised. The
trustees decided to award 10 grants during
the reporting period totalling £19,965. The
average grant size was £1,997. The
success rate for applicants was
approximately 16%.
A note about our decision-making process:
●
Applications were divided randomly
between a sub-group of trustees for
an initial round of scoring
●
The trustees met to discuss the
applications and process before
taking top scoring applications into
a second stage
●
For the second stage, applications
were re-allocated and where
possible, applications were
allocated to trustees with expertise
in specific areas relating to the topic
●
A meeting was held to finalise the
shortlist for each decision meeting
●
Finally, all trustees participated in
two decision meetings with a
maximum budget of £12.5k per
round
●
The process for each round took
approximatelythree months from
applicant deadline to funds
distribution
Grants were awarded to the following
charitable purposes as recognised by the
Charity Commission:
●
The advancement of education: 4
●
The relief of those in need, by
reason of youth, age, ill-health,
disability, financial hardship or other
disadvantage: 3
●
The prevention or relief of poverty:
1
●
The advancement of health or
saving of lives: 1
●
The advancement of human rights,
conflict resolution or reconciliation
or the promotion of religious or
racial harmony or equality and
diversity: 1
All successful applicants were service
delivery organisations in England.
Beneficiary groups varied widely, including:
refugees and migrants (2), young people
(2), LGBTQ+ people, women and girls,
disabled people, people experiencing
homelessness, and people experiencing
mental health problems.
Seven Friends Foundation awards grants
for both project and core costs. During this
reporting period, 70% of grants supported
project costs and 30% contributed to core
costs.

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 The trustees’ policy on reserves is to
maintain, in general, sufficient available
reserves in cash to allow all grant
commitments.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The balance held on 31 March 2024 was
£30,040. The trustees are satisfied that the
current level of reserves is sufficient to
carry out grant making activities.
Amount of reserves held Para 1.22 N/A
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 The Charity has sufficient financial
resources and reserves to fund its activities
for the foreseeable future. Accordingly, they
continue to adopt the going concern basis
in preparing the annual report and
accounts.

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 Currently, all of Seven Friends Foundation’s
funds come from personal assets of the
trustees.
The trustees are responsible for ensuring
that charitable funds are properly used and
are satisfied with the provenance of the
donations and that no conditions are
attached to its expenditure. The governing
document describes the duties of trustees
in relation to benefits and payments,
conflicts of interest and decision making.
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 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 Apart from the founding trustees, every
trustee must be appointed for a term of
three years by a resolution passed at a
properly convened meeting of the charity
trustees.
In selecting individuals for appointment as
charity trustees, the charity trustees must
have regard to the skills, knowledge and
experience needed for the effective
administration of the CIO.

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 The trustees administer the day-to-day
affairs of the charity.
Relationship with any
related parties		 Para 1.51 John Peace is a trustee’s father and
maintains the charity’s website.
He has not received financial remuneration.
Other

Reference and Administrative details

Charityname Charityname Seven Friends Foundation Seven Friends Foundation Seven Friends Foundation
Registered charitynumber 1199444
Other name the charityuses
Charity’s principal address 32a Sparsholt Road
London
N19 4EL
Trustee name
Office (if any)
Dates acted if not for whole
year
Name of person
(or body) entitled
to appoint
trustee (if any)
Nancy Alexandra Rose
Allen
Secretary
Dr Robert David
Gallagher
Noelani Tallulah Hall
Treasurer
Katherine Alice Jacobs
Michael Keith
Reynolds
Ruth Freya Stone
Victoria Anne
WIlkinson
Chair
Trustee name Office (if any) Dates acted if not for whole
year		 Name of person
(or body) entitled
to appoint
trustee (if any)
1 Nancy Alexandra Rose
Allen		 Secretary
2 Dr Robert David
Gallagher
3 Noelani Tallulah Hall Treasurer
4 Katherine Alice Jacobs
5 Michael Keith
Reynolds
6 Ruth Freya Stone
7 Victoria Anne
WIlkinson		 Chair

– 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)

----- Start of picture text -----
Type of Name Address
adviser
Name of chief executive or names of senior staff members (Optional
information)
----- End of picture text -----

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.

----- Start of picture text -----
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s) [ Victoria Anne ]
Wilkinson
Position (eg Chair
Secretary, Chair, etc)
Date 19/01/2025
----- End of picture text -----

Seven Friends Foundation

----- Start of picture text -----
1199444
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Receipts and payments accounts

CC16a

For the period 1/4/2023 31/3/2024 To from

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest
£		 Unrestricted
funds
to the nearest
£		 Restricted
funds
to the nearest £		 Restricted
funds
to the nearest £		 Endowment
funds
to the nearest £		 Endowment
funds
to the nearest £		 Total funds
to the nearest £		 Total funds
to the nearest £		 Last year
to the nearest £
Cash brought forward 50,005 - - 50,005 -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total(Gross income for
AR)		 50,005 - - 50,005 -
~~A2 Asset and investment sales,~~
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts
A3 Payments
-

Grants		 19,965 - - 19,965 -
- - - - -
- - - - -
- - - - -
- - - - -

CCXX R1 accounts (SS)

1

- - - - -
- - - - -
- - - - -
- - - - -
**Sub total ** 19,965 - - 19,965 -
A4 Asset and investment
purchases, (see table)		 -
-
-
-
-		 -
-
-
-
-		 -
-
-
-
-		 -
-
-
-
-		 -
-
-
19,965
30,040		 -
-
-
19,965
30,040
-
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
-
30,040 - - 30,040 -
-
-
- - -
- - - - -
30,040 - - 30,040 -

Section B Statement of assets and liabilities at the end of the period

Categories
unds
monetary assets		 Details
Cash
Details
Total cash funds
(agree balances with receipts and payments
account(s))		 Details
Cash
Details
Total cash funds
(agree balances with receipts and payments
account(s))		 Unrestricted
funds
to nearest £		 Unrestricted
funds
to nearest £		 Restricted
funds
to nearest £		 Restricted
funds
to nearest £		 Endowment
funds
to nearest £
30,040 - -
- - -
- - -
30,040 - -
OK
Endowment
funds
to nearest £
- - -

B1 Cash funds

B2 Other monetary assets

CCXX R2 accounts (SS)

2

- - -
- - -
- - -
- - -
- - -

B3 Investment assets

B4 Assets retained for the charity’s own use

B5 Liabilities

Details Details Fund to which
asset belongs		 Fund to which
asset belongs		 Cost (optional) Cost (optional) Current value
(optional)
- -
- -
- -
- -
- -
Details Details Fund to which
asset belongs		 Fund to which
asset belongs		 Cost (optional) Cost (optional) Current value
(optional)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Details Fund to which
liability relates		 Amount due
(optional)		 When due
(optional)
-
-

CCXX R3 accounts (SS)

3

Signed by one or two trustees on behalf of all the trustees

-
-
-
Signature Print Name
VICTORIA WILKINSON		 Date of
approval
VICTORIA WILKINSON 20/01/2025

CCXX R4 accounts (SS)

4