DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D THE PETERS FAMILY FOUNDATION CIO Trustees, Report and Unaudited Financial Statements For the year ended 30 June 2024 Charity Number 1199470
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Peters Family Foundation CIO Year ended 30 June 2024 Legal and adrninistrative infomiation Trustees: Jean Peters Helene Peters Slefan Schaefers Thomas Schmidl Charity Number.. 1199470 Registered office-. International House 109-111 Fulham Palace Road London W6 8JA Independent ExamineT'. Moore Kingston Smith LLP Chartered Accounlanls 9 Appold Street London EC2A 2AP Bankers.. CAF Bank Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Peters Family Foundation CIO Year ended 30 June 2024 Trustees, Report The Trustees present their annual rep)rt together wrth the financial statements of accounts for the year 1 Juty 2023 to 30 June 2024. The Trustees confimi that theAnnual Report and financial slalemenls comply with the current statutory requirements, the requirements of the governing document and the provisions of the Ststement of Recommended Practice {SORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 20191 as amended by Update Bulletin 1 leffeclive 1 January 2019}. Governing docurnent and legal structure The Peters Famity Foundation CIO was established as a charitable incorporated organisalion I'CIO'I and registered at the Charty Commission on 28 June 2022. The CIO is governed by the Board of Trustees who are responsible for the governance and the strategic direction of the organisation. The CIO commenced activty in June 2023 and hence this is the first full year of activity. Public Benefrt The Trustees confim that they have referred to the Charrty Commission's guidance on public benefil when reviewing the CIO'S aims and obieclives and in planning future activities. The CIO has given grants lo charrtable organisalions this year lo advance ils charitable objectives.. the relief of poverty, education of young people in need, the advancement of health and the advancemenl of the arts and culiure. Review of activities The Iruslees were pleased to make four grants during the year supporting charitable causes.. Royal Opera House Covent Garden Foundation. The CIO gave a grant of £60,000 to develop the youth offering al the Foundation including a programme of online resources for 14-18 year olds, expansion of the programme to a younger age group, and a recruilmenl drive to diversify the membership. Princess Alice Hospice. The CIO funded the pilot of Virtual Ward for six months, this being one of Princess Alice Hospice's four overarching priorities for the year. The model utilises new technology lo facilitate confidential conversations and lo provide appropriatety tailored care lo beneficiaries when and where il is needed. I'Association pour le Rayonnement de I'opéra de Paris. Funding was provided lo extend the residency programme for male and female conductors at the Paris Opera Academy, with the aim of promoting equal opportunrties in orchestral conducting career options. The Opera Awards Foundation. The Foundation lebrateS excellence in opera and aims to raise the profile of opera as an art form. The CIO has supported five aspiring young opera singers wrth bursaries, facilitating their promising opera career joumeys.
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Peters Family Foundation CIO Year ended 30 June 2024 Plans forthe future The CIO will conlinue ils charttable granl-making in 202425. Financial Review During the year, the CIO was generousty endowed an investment propety of £8 million, and continues to receive rental income for the property. which for the year lotalled £240,000 {2023". £nill. This has allowed the CIO to give charitable grants dunng the year tot811ing £177,786 Isee Note 3 to the accounts), wrth minimal other costs incurred. giving total spend for the year of £181,35812023. £51. Net income for the year was £8,059,77112023.' £995) including receipt of the gifted propety held as an expendable endowment. Total funds at year end lolalled £8.060.76612023: £9951. Resep4es Policy The reserves policy of the CIO is to hold free reserves of beeen £50,000 and £100,000 to meet grant commitments and capital commitments as they fall due. The CIO at 30 June 2024 has lolal funds of £8,060,766, of which £8,CHJO,000 is held as endowment funds, leaving £60,766 in free reserves. This is within the range allowed by the reserves policy. Risk management The main risk to the charty is of unforeseen major captt81 works required lo restore or maintain the investment propety. This is mitigated by regular reviews by the Trustees of the condition of the property, appropriate insurance held. and the property kept in a good state of repair. Trustee Appointment and Induction Trustees are appointed by a resolution lo be passed al a duly convened meeting of the Trustees. New Trustees are bnefed on their legal obligations under charity law, the Content of the governing document, decision-making processes and the recent performance of the cio. The CIO considers rts key management personnd to comwise of the Board of Trustees. No members of the Board received remuneration or other compensation or expenses for their services during the year. The CIO has no employees.
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Peters Family Foundation CIO Year ended 30 June 2024 Statement of Trustees, responsibilitie5 The Trustees are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unrted Kingdom Generalty Accepted Accounting Practice). The law applicable to charrties in England and Wales requires the Trustees to prepare slalemenls for each financial year which give a true and fair view of the slate of the affairs of the charity and of the income and expenditure of the chartty for that period. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and apply them consistently.. Observe the methods and principles in the Charities SORP., Make judgements and estimates that are reasonable and prudent.. Stale whelher applicable accounting standards and stalemenls of recommended practice have been followed, subject to any material departures disclosed 8nd explained in the financial statements, and Prepare the financial statements on the going concem basis and in accordance with applicable accounling stsndards. The Trustees are responsible for keeping proper accounting records that disclose wrth reasonable accuracy at any time the financial position of the Charty and enable them lo ensure that the financial statements compty wrth the Charities Act 2011, the Charity (Account and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. On behalf of the Board ODQTEAII5CO44A 5&73Y5102XD4FE Jean Pelers, Trustee Helene Peters, Trustee Dale.. 1111212024 Dale.. 1111212024
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Peters Family Foundation CIO Year ended 30 June 2024 Independent Examiner's Report to the Trustees of The Peters Family Foundation CIO I report to the Trustees on my examination ofthe accounts of the above charity for the year ended 30 June 2024. Responsibilities and basis of report As the charity's Trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Chartties Act 2011 (Yhe Act'i. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commission under sectson 14515llb) of the Act. Independent Examlner's stalement Since the Charty's gross income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants of England and Wales, which is one of the listed bc&lies. I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me cause lo believe that in, any material respect.. the accounting records Y nol kepl in accordan wrth section 130 of the Charities Act., or the accounts did not accord wrth the accounting records.. or the accoun15 did not comply wrth the applicable requirements concerning the fomi 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 wrth Ihe examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Dollu8*n•d by. 9EVThCC3397445 Adam Fullerton FCA, DChA For and on behalf of Mixfyre Kingston Smtlh LLP 6th Floor 9 Appold Street London EC2A 2AP Date.. 1211212024
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Pelers Famity Foundation CIO Staternent of Financial Activities for the year ended 30 June 2024 Noles 2024 Unrestricted fvnds 2024 EndOnnt lund$ 2024 2023 Total funds Total funds In¢omo and •ndowm¢nts from.. Donations and 18gaci05 Donations Grfleé propety 8.000.1)xi 8.000,000 Invwdlrnont income 241.129 241,129 Total Ineomè 241.129 8.000.000 8241.129 Expenditurn on: R418lng lund• Charitsble activiti0• 181.358 181,358 Total 8xpondltur• 181358 Net Incom8 I lexp8ndlturo1 $9.771 8,000,000 8,059,771 996 N•t mov•m•nt In fund• 8 059 771 995 Rgconclllatlon ol fund•: Total funds tsroughl fOard 995 Totsl fund• ¢¥rrlgd forward 60.766 8,000.000 8.060,766 All amoun15 relate to continuing acbvitkes. All amourts from the prioryear are unrestiKbJ. There are no recognised gains or losses other Ihan the $V$ forthe perKyJ. The notes fom part of these financial slalements.
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Potsrs Family Foundation CIO Balance Sheet as at 30 Juno 2024 Notes 2024 2023 Fixed assets Invéstmènts 8,0,000 ,000,000 Totsl fixed •8$•ts Curr•nt a¥$•ts Debtors Cash at bank and in han¢J Total current assets 6.190 57,672 63,862 995 995 Currènt Llbllltle Credilor5.' Arnoun15 falling due vthhin one year 3,096 Nèt current assets 60.766 996 Totsl net a880ts 8,060,766 995 The lund8 of th• Charlty: Unrestricted funds Endowment funds 60,766 8.Cth,000 Totsl charlty fund8 8 060.766 995 The notès form part of these finantial slatemenls. These finanrAal statemenls were approved by the Board and sned on their behalf by.. 745CJI44 ers 3BF ?]E04FE Truslee Trustee Date.. 1111212024 Date.. 1111212024
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D Tho Patèrs Family Foundation CIO Notes to the financial statements for the year ended 30 June 2024 1 Accountlng policitr8 The followng acc(xJntirvJ wlK#es have been u)aPprd in ratiOn tothe Chanws financAal slatemenls. Ba818 of preparatfjon The PelefS Famity FoundaboTr CIO is a charitable Irp(e0 organBatson wisterEd EnarkI and Wales charity numbpr 1199470. The addre55 ollhe registered Offi 15 disthsed on Ihe infotmation page. The financial 5tsterrents have ttrn kwared in accordan1 the Charttt5 SORP IFRS 1021- Accwnlirg and Reporting by Charite5". Slalemenl of Recomtnended Pradice appIable to charibes wepariry thr accounts in accordance wilh Ihe FinanrA81 Reporting standard aprlicèNe ihe UK aThJ Republ ol Irdand IFRS 1021 lefteciive 1 January 20191, Financial Reportiro StsThJard ap1¢ate In the UK and Rep1 of Ireland IFRS 1021 and the Charit8 Act 2011. The Chanty has applied the small tharity ex¢Ynptson from eparaTr of a slatemenl of cash kn. The Charity MlS the definrtl( of a wt4c n8fit entity under FRS 102. A8aet8 luibth'ties are initially reccgnised at historical c051 or Iran5aLtson urkn OtheThSe Staled the rekvant pdicy. Oolrtg ¢•n¢•m The Charity onty commits 10 th8ri18bk expeThYrtwewhen il has lthJ8 av8iL8ble. ally lor $upwt co•t$. Th? InJ81888 8re lisfied the Charity is a cwcern. Income In¢ome 18 recogl$ed when there ffj 11 enirfftw)t. th recapt 1$ probabk and omwni 1$ me8$ur8bk. Ren181 income is recognised In the penod when it falb due. Dcrtalions (rcffl iThJNhYuals are rewnised on receipt. Gifted eTrJowrent Income is recryni5ed when lth pa55es lo the Charity. Expendlture Expenditur8 Is recognised there is a legal or ConstrINe oblgalion to transfer ecomIC benefit lo a third paty. il is probable Ihal a transfer of economic berefrts be required in 5elllemenl and ¢1% amwnl of Ihe obligation can be measured rdi8tAy. Grani expernlilure 1$ ¢¢gniSed vthen a is made to 8 party Support ¢o$ts 8 allocated lo charitable 8thles. Investments are in Ik¢ fom of Inves1nI property. d hehj •1 f value le on 8n exlemil independent valuglKIn. Fund¥ General funds are unresincied fundswhth 8re avai f¢x use ai the dis(thon of the Trustees in furthÈr8nce oftt)e general objectives of the Chanty. Expendable endowmenl fuThJ8, in lom of investment property, are keld until death oflhe len8nls of ihe yoperty. al which IIrr the wopwty maybe xld. Forglgn curroncl Morlary assets and Iiabililies denominaied in forwn (ymnties are trSlated into Poth$ Slerfing at ts Èxth8NJÈ rale at the lime of the Iransaciion, and updated al year-end. Taxation The Charity 15 considered lo pass the le5ts sel crt n Parawaph 1 S(thed 6 of the Fin Ad 2010 aThY therefore rt meets Ihe definition of a Chantab enltyfor UK corporation lax putposes. Accordingty, Ihe Chatity is exempt from taxation in resppct of Income or capital gains received wlhin rategories ered by Chapier 3 Part 11 oftr Corporation Tax Act 2010 or Secliori 256 of Ihe Taxaliw of Chargeable Gains Act 1992. to the extent that incrme or gains are applied exdusively to aritabk wrp05e5. Accountlng ludgem8*)ts and 88tOmato8 The main ju(Igemenl in Ihe finanoal Statements 15 th grant expendIlu is recognised rfca5h ha5 nol been paKI (Krt before year end l$ee ExpendIre aVe). There no gratts in thls Caory at year end.
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Petets Famity Foundation CIO Notes to the finantlal statements for the year ended 30 June 2024 2 Investment Income 2024 2023 Rental income Bank Inte$t 240.C 1.129 241.129 I Income ts unrestr1. 3 Expenditure A grant was made during Ihe year to eath of the lo1"rj organisab.$.. 2024 2023 Royal Opera Hous8 Co¥ent Garden Foundation Princess Aice Hospice I'Assooabon pour b Rayonnement de I'cfv de Paris The Opera Award$ Foundation Totsl grant 8xp8nditure 42.786 25.thx 177.786 Support Costs Total charitable expondlture 3,572 181.358 The Charity has ne employees. No payments wfjre m•a• to the trust••s in th• curr•nt or prior year, l expenditure 1$ unreslrthd. 4 Inv•8tm•nts Investment prop•rty Balance at 1 July 2023 Additions. gifted property, at fair value 8,000,000 Balance at 30 June 2024 8 000.000 On 14 July 2023. the Chanty was gifted a property from truslees Jtran and HelEne Peters. who subsequentty became tenants of the Charity, paying an annual market nI of £240.(XJO to occupy Ihe land and buibings. An Independent extemal valuation for the rent and property value was obtained from Sawlls IUKI Limited dated I l July 2022. and the related paty arrangement wa5 agreed with the Chanty Ccrnrnis5ion. There have been no rnatenal changes to rn8rket conditions affecting the property value since the valuation was perf0m.
DoGusign Envelope ID." 5EDOEBA3-EFD4445&A4FE-86D5AFDDF16D The Peters Famity Foundation CIO Notes lo the financlal statements for the year ended 30 June 2024 5 Debtors 2024 2023 ppaYments Other debtors 6.190 Total 6.190 6 Creditorn.. arnounts falling due wlthin one year 2024 2023 Other creditors Accrua15 Totsl 3,096 7 Fund• 2024 2023 Unr••trlct•d lund•'. Ir•0 r•••ry• Funds at 1 July In¢om¢ Expendilurg 241.129 1181.3581 995 Freo reiorve at 30 Juno Expondabh •ndowM•nt lund• Funds at 1 July Giltsd property 8.¢))J.000 Exnd¥b •ndowm¢nl fvnd• at 30 Juno 8 000,000 Totsl lund8 •t 30 Jun• 8.060.766 8 Related party transactbon8 See Note 4 Invesknents fly details of transacts)n$ Iwlh the trustees. TTr* no otlw lated party transan$ dunng the year.