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 An￿al Repcrtofthe Trusiees Irthp￿t Exam￿$ Rewt 7-11 Notes to FinrK4al Stalen￿ts 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 m￿devil￿. 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[lan￿I￿th theTrustee InveStr￿ntACt 1*1 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 phy￿Cal training) of people under the age of25 years In the S￿th of England kn such Ways as the chaty's trusteesthink fft, iThSuding by awarding to such persons schoLarships, MaintenaTr￿ a[b*ar￿e5 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 th￿r¢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 (2￿4.. £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¥nn￿t.0n with the level of grdnt making year is lo distribtrte from fvrbjs b) Iho Cr￿rity 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 tr￿an￿ sheet dale were £657.74012024: (£883)) which is intine with the trustees policy. Rlsk management The trustees have examined the mapr stF*gic, bu￿neSS and Operab￿01 rBks which the chaiity faces and confim) that syste￿￿ have been establthed to enable regular reports to be pr￿jL￿ed so that the necessary steps can be taken to les9en these ris￿￿. Trust•g8 re8ponslbllllle8 Legislation require5 the trustees tr) Fwre statements for financial y￿r 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 const*ntty; make judgments and estimates that are reasonable and prudent state whether applicatle accounting standarts arml statements of r&J)mmended p￿￿Ce 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 re￿rdS whth di￿1￿ wth wsonable accur4 at any b.me the finanGk4 posi￿￿ of the Charity and to ￿tsUre that the finan￿al 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 de￿￿K)n Offra￿ other iwularitw. Hannah Lity Vwian Noa il for and on behalf of the trustees 4'feL... . ..16L£ THE KENORA cHAR￿ABLE FOUNDATION INDEPENDEKf EXAPJiINER'S REPORT TO THE TRUSTEES OF ThE KENORA CHARITABLE FOUNDATK)N I report lo the trustees ￿ my ex¥ni￿tiOn ofthe financial statements ofThe CharIt￿e FryJnd￿0n {the 'chanV} for the year erHknJ 5 April 2025 vthich are sd out on pages 4 to 11. R￿ponsIbl1ft1eS 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 ￿K￿ble DIr￿all￿ giv8n by tha Ch Commis&on urhler Secti￿ 145(5)Ibl ol 2011 ACL Independent examlnerfs StateM￿t Sineethe ¢hW's gross incomeexc88d8d £250,0￿yOWeX•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 b￿e¥e that in m*nal resp ac￿n11r￿j records were kept in res¢xt ofthe chanty as reqLM￿y ty sfjCti￿ 130 ofthe 2011 Act,. the finanoal Statern￿ ¢$) Th)t comF4y *ilh th8 applic*e rgluirwnents COr￿nIng thè fom and Content of accourrts set out in the Charrbe5 (ACCC￿NrtS aThJ ReFxxts} RegLlations 2008 other than w*y 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 c￿neCtiOn with the ex2minati¢Jn to whsch attenlion sh￿￿d bedravm in this reFQrtin orderto**ble a prw und￿stan￿n9 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 12￿67 361.681.83 16.01133 3.8 83.8 651740.5 t44.St6. 1.319A7 10 147m. 22$64S 147.835. 677A7 $5B,624 (1074AJI 2.191.18 657.740. Ymr ond•d Y•ar•nthd SurrJuslld9fidV Adjustments tr. (3.074.￿) {1.319.4n 1877.47) 1.(Q4. 144.84Tr K4ov8monl in captsl.. 240LQ) Iruease kn debtrKs 671.395.9D fi.359￿0 PurGh45e ollntsryibkn 110248.001 1399.49920 1.319.47 408.427.73 t cash is•J li Irwestir¥J ara Fknandry 261￿.17 (6,314.981 6,871.16 555.20 a06ing cash arxl cath 8ryiva*nts 263.524.37 Rolgfjngto.. Bank Inv6sth1*rt Portrth Cath 283.423.16 10121 263524.37 556.20 558.20 Page 7 THE KENORA CHARifABLE FOUNDATION rthè r ended 6th rfi 1 ACCOUNTING POLICIES The Kenofa Charitable FOunda￿n 4$ 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 g0￿Ming 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 dep*ted from the Charl￿S (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 p￿tice for charibes apptying FRS 102 ralherthat the ve￿￿)n of the Statem￿t of RecommeNl&d Pracb'ce whiGh is refeTh&l to in the Regulat￿nS 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 adop￿3 are set bekyw. 1.2 GOING CONCERN At the of approving the ￿￿)uftts. the Irustees have reaSona￿e exK*thbon that the charity has adequate resources to continue in operational ex￿nCe 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￿ I￿ludeS Invest￿ inwffe. arnl don*"ons whhth are rwniwj when th8 d￿rity has a legal right to the income. The gain or ths ari￿ng on the diSpCs￿ of an assèt is d8terminad as the difference betr1￿n 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 C￿lsts of grants nBdg. SUPPORT COSTS Support costs indude website a￿1 sctial ff*dia 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 Imrolr￿￿nt 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 a￿K)Unts presentsj in the ffftan￿al slatements, Wh￿ the is a legalty enforceable right to set off the r￿n[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. ￿tr￿re 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 In￿Me 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 an￿Int 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 iffoaim￿ntwaS 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 impair￿ftnt reversal cognised in net incomel{expendI￿￿} for Ihe year. Basic financial IlabHI Basic finan￿al liabilibes, Ir￿u￿1r￿j trade and other payables. are inthlty rECO9nised at tranSact￿n 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 Th￿11¥>j. Trade payables are obligatsons to pay for gcx)ds or servw that have b*n in the ordinary course of operations from supwiers. Accounts payabk are dassed as CUTrent I￿111b'e5 rf payment is due within one year or less. If not they are presented as non