IM irwinmitchell EKEN TABLE F P4AP4fiAL STATEME Forth? (Rot. 054101fj84)
E KENORA CHARITABLE FOUNDATIO TERED CHARrrY NO.1201057 Contents to Fi r ended S rt120 Anal Repcrtofthe Trusiees Irthpt Exam$ Rewt 7-11 Notes to FinrK4al Stalents 12
Pag• 1 For the year ended 5th April 2025 Full name of Charlty . The Kenora Chaiitalk Foundai Naturn of govemlng d(Kunwt . Deed of Trust dated 28 Aryd 2022 as amendal ty deed dated 9 September 2023 Reglstratlon Number. 1201057 Truste8s: Charfes Arthur Noal Dem El¥beth Nc¢l Hannah Lity WNran Noalkchurchill Regl$tsrgd Addr95S: VtrÈstlake Hrytse. Cottons Lane. Keinton mdevil. Somthn. Somerset TA11 6DT Prlnclpal 8•nker: C Hwe & Co. 37 F Strert London. EC4P 4DQ Invoslment Managgr: Jlonby & Partners, 1>14 Bu¢kingham Strert London, blC2N 6DF Sollcltors . Trower5 & Ham1 LLP. 3 Bunhll Ruw. LorKlon. EC1Y 8YZ To ediraion of people under 25. SpecHl¢ inv•stThnt pow•rn: In accor[lanIth theTrustee InveStrntACt 11 as amended by the Charities (Tnjstee Investrnent Act 1961) Orrler 1995. Con8tltutlon and obJ¢¢ts The objects ofthe Charity aTeforthe publ benefitto the edLK4ti( lindudirrfj social and phyCal training) of people under the age of25 years In the Sth of England kn such Ways as the chaty's trusteesthink fft, iThSuding by awarding to such persons schoLarships, MaintenaTr a[bare5 or grants tenable at any school. university, college or inslitutK>n of higher educats"on. The Souttl of Engènd incorwrates Bristol, Comwall. Devon. Dorset Gloucestarshire, Somerset, Mfjltshire, Berkshire, Hampshire, Buckinghamshire, West Sussex, East Sussex, Ken( Oxfordshire, Isle of Wgh( Surrey, Cty of London, Greater London, Bedfordshire, Cambridgeshire, Hertfordshire. Essex, and Norfok Organlsation The Trustees who seryed during the year and SIT¢ the year end are set on or& The TTUStees usualty meet during the year to determine they would supwrt and to ca)nsider the future of the TrusL The statutory power ofappointment applies in o)nnè)n wth the apFtinlment ofTntstees d i8 exercisab by the c4Jntinuing and retiring Trustees. Grnnt maklng poll and actmtles Since the inception ofthe Charity, the Charity Trustees have dists)vw thn)ugh thr¢harl13bIewark and research -+• that they can suitably fulfil the obj and benefits of the intended rE¢ipients rf they are not restricted by aeoaraDhical g))De. The trust have a fonnal arant makino wlicy in D*e. Achlevements and During the accounting year th8 trustees rrHde 15 (2024: fve) grants totalSng £216,597.97 (24.. £131.8361.
P•ge 2 Flnanclal Revlew and inve8bnent pollcy During the year incoming resouros tota £883.392 (2024: £144.561). and resources expend&J totalled £225,645 (2024.. £147,636). As a resuFt the fvnd balance carried foTrrdfd at V April 2025 was £657,741. The incoming resources ¢x)nsist of bank dwit 4)twest donthns. The Trustees apKKoach in IX¥nnt.0n with the level of grdnt making year is lo distribtrte from fvrbjs b) Iho Crrity during the year. Re8eKva policy The trustees aim to maintain free reserves adequate to cy)ver imrwliate expenditiire. The fvnds have been invested to generate Income to support[utU exFEnditure. If required. donations will be receNed from the trustees to cover all deficits. The reserves at the tran sheet dale were £657.74012024: (£883)) which is intine with the trustees policy. Rlsk management The trustees have examined the mapr stFgic, buneSS and Operab01 rBks which the chaiity faces and confim) that syste have been establthed to enable regular reports to be prjLed so that the necessary steps can be taken to les9en these ris. Trust•g8 re8ponslbllllle8 Legislation require5 the trustees tr) Fwre statements for financial yr whtth show 8 true and fair view of the stste of affairs of the Charity and of the 1rmx) and exFEnditure of the charity for that per. In preparing those finarrial statements. the Trustees are reqimred to". select suitable accounting polwx and then apply them constntty; make judgments and estimates that are reasonable and prudent state whether applicatle accounting standarts arml statements of r&J)mmended pCe have been followed, SLEbiectto any deParty disck)sed and eWain&l in the financi statements.. and epare the financral ststements on the going concwn trAsis unless it is inappropriate to presume that the Charity will continue to operate. The Trustees are responsible for keeping pyoper xcounttng rerdS whth di1 wth wsonable accur4 at any b.me the finanGk4 posi of the Charity and to tsUre that the finanal statements cornpty with the Charities 2011. They are also resFonsible fDr safeguarding the assets of the Charity and her for takinp ab18 sieps tsthe prBvention aThJ deK)n Offra other iwularitw. Hannah Lity Vwian Noa il for and on behalf of the trustees 4'feL... . ..16L£
THE KENORA cHARABLE FOUNDATION INDEPENDEKf EXAPJiINER'S REPORT TO THE TRUSTEES OF ThE KENORA CHARITABLE FOUNDATK)N I report lo the trustees my ex¥nitiOn ofthe financial statements ofThe CharIte FryJnd0n {the 'chanV} for the year erHknJ 5 April 2025 vthich are sd out on pages 4 to 11. RponsIbl1ft1eS and basls of report As the trustees of the cf• you are Ihe Pryrati ofts ststemats In aceordance with the rwuirements of the Charities Act 2011 (the 2011 ACE). 2011 Ad In carying oui my examirMtKn I have frJtrAyJ all Iho Kble DIrall giv8n by tha Ch Commis&on urhler Secti 145(5)Ibl ol 2011 ACL Independent examlnerfs StateMt Sineethe ¢hW's gross incomeexc88d8d £250,0yOWeX•M1nermU$t be a memberofa body listed in s8cti¢v) 145 ofthe 2011 AGL I confinn tst l am qudified to uThlert&e the examination tecause l am a member ofthe examination gving me cause to be¥e that in mnal resp acn11rj records were kept in res¢xt ofthe chanty as reqLMy ty sfjCti 130 ofthe 2011 Act,. the finanoal Statern ¢$) Th)t comF4y ilh th8 applice rgluirwnents COrnIng thè fom and Content of accourrts set out in the Charrbe5 (ACCCNrtS aThJ ReFxxts} RegLlations 2008 other than wy requirement that the attounts gr a true arKI fair Is rKI a matter Crtside as rArt of an indeperthnt examination. I have M ec#emS th have come across no other matter5 in cneCtiOn with the ex2minati¢Jn to whsch attenlion shd bedravm in this reFQrtin orderto*ble a prw undstann9 ofthefinanaJ ststemenisto be reached. Jordan Abt BSCACA Cavpenter P•)X Piper House 4 Dukes Court Bognor Road Chiche5tsr West Sussex P019 8FX 0510212026
92TJ2 4.477.85 .701JA X3.42316 1267 361.681.83 16.01133 3.8 83.8 651740.5
t44.St6. 1.319A7 10 147m. 22$64S 147.835. 677A7 $5B,624 (1074AJI 2.191.18 657.740.
Ymr ond•d Y•ar•nthd SurrJuslld9fidV Adjustments tr. (3.074.) {1.319.4n 1877.47) 1.(Q4. 144.84Tr K4ov8monl in captsl.. 240LQ) Iruease kn debtrKs 671.395.9D fi.3590 PurGh45e ollntsryibkn 110248.001 1399.49920 1.319.47 408.427.73 t cash is•J li Irwestir¥J ara Fknandry 261.17 (6,314.981 6,871.16 555.20 a06ing cash arxl cath 8ryivants 263.524.37 Rolgfjngto.. Bank Inv6sth1rt Portrth Cath 283.423.16 10121 263524.37 556.20 558.20
Page 7 THE KENORA CHARifABLE FOUNDATION rthè r ended 6th rfi 1 ACCOUNTING POLICIES The Kenofa Charitable FOundan 4$ an charity. regiSter&J with the Charity Commi55ion number 1201057. The re9 address is IAWake Hcmtse. Cottons Lane, Keinton MaTrJevtNe, Somwton, SowErsei TA116DT. 1.1 ACCOUNTING CONVEPrnON The ffnan¢ial statements have been prepared in dance with the Trusys g0Ming dcrument, the Charities Act 2011 and "A¢xounting and Rewttng by Charibes: Stateff£nt of Recommended applicable to charth.es preparing their a(xounts in accortlance wrth the Financia Rekmlrting Stsndard apph'cable in the UK and Republic of Ireland (FRS 102)" (effeciNe 1 January 2019). The charity is a publ Benefit Entty as defined by FRS 102. The accwnts havo depted from the CharlS (Accwnts and Rewrtsl Regulaliorts 2008 ow lo the extent required to provide a true and fair v. Thts deparbjre has invofved fdlowrrkg the Statement of Recommended ptice for charibes apptying FRS 102 ralherthat the ve)n of the Statemt of RecommeNl&d Pracb'ce whiGh is refeTh&l to in the RegulatnS but has since been withdrawn. The a¢[nts are prepared in stsling, whth is the fvThAN)nal rAwrerry of the chaiity. The accounts have been prepared on the hi8toriLxI cost ccThention rTK¥lified for ts revaluation of investments. The prinapal accounting policies adop3 are set bekyw. 1.2 GOING CONCERN At the of approving the )uftts. the Irustees have reaSonae exKthbon that the charity has adequate resources to continue in operational exnCe forthe foreseeab future. Thus the trustee5' continue to adopt the going nCern basis of act li prépaAlion ofthe aAxyJunt& CHARrrABLE FUNDS & FUND ACCOUIrnNG Unrestricted funds available for use atthe disuetkin of the trustees in furtheranceof thelrcharttable objectives unless the funds have been desvJnated forather purpo Incomlng Resourc Incoming resour IludeS Invest inwffe. arnl don*"ons whhth are rwniwj when th8 drity has a legal right to the income. The gain or ths aring on the diSpCs of an assèt is d8terminad as the difference betr1n the sJ¢ pr(tseds ond tho oarryin9 •f thF ia liwirfwNMIIiUIE) Iiu IllE yi>ty. GA.. 671 I
Page 8 1.4 GRANTS PAYABLE Grants payabie a debiled to expendtiure wlthin the Statement of Financial Actiwties during the period in which the Trust enters into a construL#F¥e obtsgalion to make such payments. recognising a Ihqbility where payments are to te made in fvture peri¢>Js. CHARITABLE ACTivmES The cost of charitat48 tr¥ibes Clsts of grants nBdg. SUPPORT COSTS Support costs indude website a1 sctial ffdia anm)rtIs and training and kences. COST OF GENERATING FUNDS GOVERNANGE COSTS Governan costs comprise all invdving the publ wxountabilty of the chattty and ts Complian with regulation and gocxj practice. These Lx)sis include Lxjsts re18ted to 5tatuty independent examination and legal fees and accL)untancy fees. INTANGIBLE FIXED ASSErs Intangible assets acguiTwJ separakty from a busirw are re¢)yJniwl at CAJSt and are subw]uentty measurwj at cost less accumuLqted amortisation arnj xcumulated Imrolrnt kjsses. Amorti$ation is recojnised x) as to write off the or uation of assets18ss their repAdual values over their useful live5 on the follNiirvJ bases: Website- Straight line over 10 yw¥ Social Medrd Launth~ StravJht line over 10 years 1.10 CASH AND CASH EQUIVALEi¥rs Cash and equivalents wKlude deposits hehj at cal with banks and other sh¢xt temi liquid investments. 1.11 FINANCIAL INSTRUAEPWJ The charity has eleded to appty the proviwns of Section 11 'Bastc Financial Instrutr£nts° section 12°Other Financial Instruments Issues" of FRS 102 to all of its finanrAal instruments. Financial assets and liabilitie5 are offsrt *ith the net aK)Unts presentsj in the ffftanal slatements, Wh the is a legalty enforceable right to set off the rn[Sed arrKJunts and there is an intention to settle on a net basis or Ba8lc fln•ncAI assets Basic finanaal assets. whrth includes debtors and cash and bank tsaiances, are initialty measurejj at transaction pri including transxtyon costs and are subsequenty carr at aff¥)rtIs ¢X)St using the effectNe interest method unless the arrangerr£nt constibjtes a financing transacticfi. trre transa¢b'on 15 measured at the present value of the future receipts disDJunbJ at a market rate of interesL Financial assets dassified as receivable wthin one year are not amortised. GA: 671SVJ9J
Page 9 Impalrnient of flnanclal assels Financial assets, other than those hekl at tair Val through InMe and expendilure, are assessed for indirAtors of ilnpaillnent at each reporbng date. Financi assets are impaired where there is ObJ.tive evidence that, as a result one or more events that otrLurr&1 aftw the initsal re(xgnrtion of the financtal asset the estimated future cash fl¢yws have been affected. If an asset is impair&. the impairment k)sS is the d[fferen tAween the carying anInt and the present value of the esb"mated cash flows discounted at the assets original effthe interest r. Th8 impainnent kjss is recognised in net in¢x)mellexpenditurel for the year. Ifthere is a decrease in the impaimwnt arrèing from an everrt owrring after the iffoaimntwaS rwnised, the impaiTment FS reversed. The reversal such that the CUTrent orrying amunt d$ not exceed what the carrying amount would have en, had the impairrrwt prevThtsty been recc4Jnised. The impairftnt reversal cognised in net incomel{expendI} for Ihe year. Basic financial IlabHI Basic finanal liabilibes, Iru1rj trade and other payables. are inthlty rECO9nised at tranSactn price unless the arrangement consts'tutes a financing tranwtion, where the debt instrument is measured at the present value of the future receipts discounted at a market rale of interesL Debt instruments are subsequendy carried al amortised cosL using the thbve interest rate Th11¥>j. Trade payables are obligatsons to pay for gcx)ds or servw that have bn in the ordinary course of operations from supwiers. Accounts payabk are dassed as CUTrent I111b'e5 rf payment is due within one year or less. If not they are presented as non<urrent liabilities. Trade payables are recognised inrtkn711y at transaction Dere¢ognition of financi•l li•knliti•s Financial liabdit5 are derwi5&J when the charr¥s c<tckna1 clIgat expire or are discharged or cancell&J. 1.12. FIXED ASSET INVESTMEP Fixed asset Investsints a initiaty measured at transacticm Fxice exduding transaction D)sts, and a subwuenty ffwsured at fair value at e&h rep)rting date. Changes in fair va]ue are reoyJfti8ed in net incomellexpendlre for the year. Trydns&ttU) o)sts a expensed &8 incurred. 2. CRrricAL AccouKllNG ESTIMATES AND JUDGuEpirs In the applicath)n of the Char$ ac4xMJntiThJ polS. the trLtstees are wuired to ffke judgements, estimates and assumpkn'ons atout the wing amount of assets and liabilit*s that are not readity apparent from other are considered to be relevant A£tual resulls differ from these estimates. The estimates and undwtying assumpti$ ar8 rovwed on an ongoing basis. Revtshjns to wunting estimates are rwntsed in the peri in which the estimate is revised where the revision affects onty that riod, or in the nod of the revision and hrture pencxts where the reViSn affects bjth rrent and future penods. GA: 6719CM)9 1
84 4teW12W4 AS5W12 i.ro4 9x320 10121 L¢ASIIAT&INK 3.16 15roi.ro 166Q35 216.7S7 2.11&78 6.tix 181. 147
- GRAins PAYNBLE yr1•d U2026 Yorended 20.0W. 20.L¥JJ. 25.940.L 55.896.00 lo.0.00 la.012£4-ThÈlake 01 24fj12024.Sp8 24ll1WI4-St Pa55(14 17.D1202s-Ch To S 33Th)IKS 5.OXS.C 22.391. 20,0.) 4.500.00 5.(W 5.7601Kt 25.(1)O.fy] 37.494 4249. 254.97 31.776.Th] 36.673.00 10.00D. 15.W0.) 216.597.91 30.012ff25.ch1drw Sath¥J Tn 3112S.MertsI Heth Re o6ffj22025.1Nkn & GromiG tkS.022025-The ChikkntTnxt 13.032025-QEII Tr4K# 13.032025. Fkn¥ 18.032025.yYL¥ry Pa 25.032025.W FAIt CK) 131.B36.00 11 sIppe0 Ywrend¢d 1,056. 1.rI24X lof. £2.116.76 h 2025 I£O'.èK41 IGENERATI FUND8 Y•Jrond¥d C Hcora&Co 366. Yowendpd 1,560.fyJ It.025.60 1.408.20 2.4(hJm 2.1(KS 1.536.(Xl 8.036. Mrtchell LLP-PuJntsrryfees 15.433.80 in 20251£15.434.' 20241 1& EIIPLOYEE8
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