Charity registration number: 1199941
Olivia Sieff Foundation
Annual Report and Financial Statements
for the period from 2 August 2022 to 31 December 2023
Olivia Sieff Foundation
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Receipts and Payments Account | 8 |
| Statement of Assets and Liabilities | 9 |
| Notes to the Financial Statements | 10 to 11 |
Olivia Sieff Foundation
Reference and Administrative Details
| Chair | C M Sieff |
|---|---|
| Trustees | C M Sieff |
| D C Fuller | |
| W L Bryant | |
| V C Wickins | |
| Charity Registration Number | 1199941 |
| Principal Office | Tozers LLP (Ref JJE) |
| Broadwalk House | |
| Southernhay West | |
| Exeter | |
| Devon | |
| EX1 1UA | |
| Independent Examiner | Westcotts (SW) LLP |
| 47 Boutport Street | |
| Barnstaple | |
| Devon | |
| EX31 1SQ |
Page 1
Olivia Sieff Foundation
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the period ended 31 December 2023.
Structure, governance and management
The Olivia Sieff Foundation was set up as a legacy to our daughter who was tragically killed by a drunk driver in a hit-and-run in Cape Town on 30 January 2022.
Shortly before she died, Olivia had received an international modelling contract. Olivia had told her mother that she planned to use her raised profile and good fortune to champion abused, neglected and vulnerable children. When she was killed, the Olivia Sieff Foundation was immediately set up.
The Olivia Sieff Foundation will champion the assistance and protection of abused, neglected, abandoned or abducted children. This is a cause that was very close to Olivia’s heart. The Foundation will continue the charity work she had planned and, in so doing, fulfil her intentions of making a difference to vulnerable children.
We are a global charity, registered with the Charity Commission for England and Wales (Charity number 1199941) , and have a secondary registration as a NonProfit Company with the Companies & Intellectual Property Commission in South Africa (Registration number 202283117508).
Objectives and activities
The objectives of the Olivia Sieff Foundation are to relieve the needs of, and to advance in life, children and young people who are vulnerable or have experienced sexual, emotional, verbal or physical abuse and/or neglect, abandonment or abduction. This relief will be pursued in such ways as the charity trustees see fit, in particular, but not exclusively, by the provision of grants, in agreement with Christian principles.
Our main source of income is through donations on our website. We have also organised 2 fundraising events. The first was held in Cape Town in April 2023 and the next event is due to be held in London in September 2024. We plan to hold fundraising events every year or every two years. At the launch of our foundation, we sold bracelets to raise funds. These are still available for sale on our website and in a retail outlet in Cape Town. At our London fundraiser, we will attempt to secure some regular monthly donations. This would mean we could better judge our income going forward.
Achievements and performance
The Foundation has been the recipient of donations raised through sporting events, such as the Iron Man. We have also received funds in lieu of birthday gifts
Currently we support 4 carefully picked charities:
- 1). Heartlands Baby Sanctuary
Heartlands, based in Somerset West in the Western Cape of South Africa, is a short-term residential safe care facility for up to 25 children. They provide individual specialised care and support to children in desperate need of protection from birth to 6 years old. Children are placed with a valid court order from the Children’s Court. These are children who have been abandoned, abused, neglected, orphaned, ill and / or have moderate disabilities.
The Olivia Sieff Foundation has helped Heartlands by donating R600,000 to fully fund a new building that houses an indoor play centre and 2 new therapy rooms.
Page 2
Olivia Sieff Foundation
Trustees' Report (continued)
2). La Culla Safe Haven for Babies
La Culla is based in Wynberg, Cape Town. The charity was established by the Maritz family. Their desire to protect babies, abandoned for whatever reason, led them to establish La Culla. They believe that protection from harm, illness, cold and discomfort is a primary human right for babies. La Culla is their safe haven. Since opening in 2020, La Culla has helped over 70 babies and have a maximum of 18 babies at any given time.
The Olivia Sieff Foundation has helped La Culla by making a monthly donation of R25,000 to cover some of their operating costs for 12 months and we have recently committed to extend that help for a further 6 months.
In November 2023, we also donated a once-off payment of R40,000 to help them with the maintenance and upkeep of their property.
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Olivia Sieff Foundation
Trustees' Report (continued)
3). LIV Village Early Childhood Development Centre
LIV Cape Town is our latest grant recipient. They are an Early Childhood Development centre in the impoverished community of Fisantekraal in the Western Cape, South Africa. They hope to break the cycle of inequality in this community and create a brighter future for generations to come.
The Olivia Sieff Foundation has helped LIV Cape Town by contributing R500,000 towards half of the cost of their new computer literacy centre. The computer literacy centre will be open to the wider community and will run as an internet café, which will help the charity to be more self-sustainable.
We also donated R40,000 at the beginning of 2023 to fund the equipment and teaching aids for 2 new classrooms.
4). Sue Gray, Temporary safe-care mother
Sue spent years abroad as a missionary and worked with both babies and children in various capacities from being a night nurse and doula to a facilitator. Once back in Cape Town, Sue registered with an adoption agency as a temporary safe care mother / kanga mother and she received her first baby in November 2019. Since then, Sue has cared for 10 babies. Sue adopted the 10th baby in her care, Levi David Gray. Levi has had multiple medical issues but Sue, with her strong faith and unconditional love, is the perfect mum.
The Olivia Sieff Foundation has helped Sue Gray by paying for the costs of her legal adoption of baby Levi, who was the 10th baby in her care.
Page 4
Olivia Sieff Foundation
Trustees' Report (continued)
Financial review
During the year, the charity received donations totalling £166,890. As at 31st December 2023, the charity held cash funds of £129,053.
Plans for future periods
Our four chosen charities are fierce fighters for the welfare of the children in their care. Besides the love and care that they give to them, the charities are dealing with medical problems, state social workers, court appearances, family visits, and many other issues. It is a great privilege to help to relieve part of the financial burden with which they are faced.
The global economic environment is making it difficult for these charities to survive. Unfortunately, the tougher the economic environment is, the greater the social problems become.
We hope to be able to continue to support these charities going forward and eventually add one or two more, as our budget allows.
Please also take a look at our website:www.oliviasieff.org
Please click here to watch a video with more details about our chosen charities:
https://www.youtube.com/watch?v=aylRqoBqxXM
We are grateful to our many generous donors who have enabled us to continue Olivia’s legacy. We look forward to helping as many children, in her name, as funds allow.
I would like to thank my fellow trustees, Vanessa Wickins, Wendy Bryant and Deborah Fuller for their help and guidance with setting up the Foundation.
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Olivia Sieff Foundation
Trustees' Report (continued)
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial period which 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 proper accounting records that 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 constitution. The trustees 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 28/10/2024.................... and signed on its behalf by:
......................................... C M Sieff Chairman and trustee
Page 6
Olivia Sieff Foundation
Independent Examiner's Report to the trustees of Olivia Sieff Foundation
I report to the trustees on my examination of the accounts of Olivia Sieff Foundation for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of Olivia Sieff 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 Olivia Sieff 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:
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accounting records were not kept in respect of Olivia Sieff Foundation as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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.
...................................... Ian Huggett BSc FCA Westcotts (SW) LLP 47 Boutport Street Barnstaple Devon EX31 1SQ
Date:.............................
Page 7
Olivia Sieff Foundation
Receipts and Payments Account for the Period from 2 August 2022 to 31 December 2023
| Note Receipts: Donations and legacies Sales Investment income 4 Total receipts Payments: Cost of goods sold Direct costs Bank charges Stripe fees Currency rates General maintenance Printing, postage and stationery Trade subscriptions Charitable donations Advertising Fundraising hire expenses Accountancy fees Legal and professional fees Total payments Net receipts Cash carried forward 6 |
Unrestricted funds £ 166,890 5,780 117 172,787 (6,286) (8,769) (763) (333) (3,999) (3,529) (73) (282) (17,414) (905) (864) (217) (300) (43,734) 129,053 129,053 |
Total 2023 £ 166,890 5,780 117 |
|---|---|---|
| 172,787 | ||
| (6,286) (8,769) (763) (333) (3,999) (3,529) (73) (282) (17,414) (905) (864) (217) (300) |
||
| (43,734) | ||
| 129,053 | ||
| 129,053 |
All of the charity's activities derive from continuing operations during the above period.
The notes on pages 10 to 11 form an integral part of these financial statements. Page 8
Olivia Sieff Foundation
(Registration number: 1199941) Statement of Assets and Liabilities as at [31 December 2023
| Note Current assets Cash at bank and in hand Unrestricted income funds Unrestricted funds |
2023 £ 129,053 |
|---|---|
| 129,053 |
The financial statements on pages 8 to 11 were approved by the trustees, and authorised for issue on 28/10/2024 .................... and signed on their behalf by:
......................................... C M Sieff Chair and Trustee
The notes on pages 10 to 11 form an integral part of these financial statements. Page 9
Olivia Sieff Foundation
Notes to the Financial Statements for the Period from 2 August 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
Olivia Sieff Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared on the receipts and payments basis.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
All incoming resources are included in the statement of financial activities when the charity receives the income. The following specific policies are applied to particular categories of income:
Donations are received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when received.
The value of services provided by volunteers has not been included.
Expenditure
Expenditure is recognised on a payments basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
2 Income from donations and legacies
| Fundraising income Donations |
Unrestricted funds General £ 6,362 160,528 166,890 |
Total 2023 £ 6,362 160,528 |
|---|---|---|
| 166,890 |
Page 10
Olivia Sieff Foundation
Notes to the Financial Statements for the Period from 2 August 2022 to 31 December 2023 (continued)
3 Income from other trading activities
| Sales 4 Investment income Bank interest receivable |
Unrestricted funds General £ 5,780 5,780 Unrestricted funds General £ 117 117 |
Total 2023 £ 5,780 |
|---|---|---|
| 5,780 | ||
| Total 2023 £ 117 |
||
| 117 |
5 Staff costs
No salaries or wages have been paid to employees, including the trustees, during the year.
6 Funds
| Unrestricted funds Unrestricted Funds |
Incoming resources £ 172,787 |
Resources expended £ (43,734) |
Balance at 31 December 2023 £ 129,053 |
|---|---|---|---|
Unrestricted funds are used to further the objects of the charity, but are subject to no restrictions on their use within those objects.
Page 11