CHARITY REGISTRATION NUMBER: 1201354
The G M Atherton Foundation Unaudited Financial Statements 31 March 2025
BURGESS HODGSON LLP
Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
The G M Atherton Foundation
Financial Statements
Year ended 31 March 2025
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Statement of financial activities | 3 |
| Statement of financial position | 4 |
| Notes to the financial statements | 5 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 11 |
The G M Atherton Foundation
Trustees' Annual Report
Year ended 31 March 2025
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2025.
Reference and administrative details
Registered charity name The G M Atherton Foundation Charity registration number 1201354 Principal office Digges Place Out Elmstead Lane Barham Canterbury CT4 6PJ
The trustees
Mrs C W Walsh Mrs G M Atherton Mr J P Atherton
Accountants
Burgess Hodgson LLP Chartered accountants Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN
Structure, governance and management
The Foundation was constituted as a charitable incorporated organisation on 15 December 2022 and is a registered charity, number 1201354.
Objectives and activities
The charity's objects are to advance such exclusively charitable purposes by making grants and donations to individuals and organisations at such time or times and in such manner as the Trustees, in their complete discretion see fit.
The Trustees have complied with their duty to have due regard to Public Benefit guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Grant making policy
The Trustees welcome applications or requests for funding. The Trustees meet from time to time to consider the merits of applications submitted to the Foundation and to make awards, if appropriate, which are in line with the objectives of the Foundation.
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The G M Atherton Foundatlon Trustees. Annual Report fwnllnwdj Year ended 31 March 2025 Achlevoment8 and perfornmnoe The Foundat¢on was incorporated during 2022 and reGeived in¢ome of £165,272 by way of share transfer. Thg Trustses intend lo distribute income liom this initial endowmertl in line with Ihe granl making pollcy. Flnancl•l rovI8w Th& resutts for the perlod are 8hown on page 5. Folowlng Incorporatton on 15 DKembgr 2022 the Foundation received a donation ol £165,272 by way of share transfer. During the p9riod. inv9Stmont income was £2,106. Total expenditure lor the year was £3.634 and there wa5 a loss on investments of £3,909, leavlng nel assets al 31 March 2025 of £139,457. Th& TrusV$ lunds are manag&J by a regulated fund manager and are invested so as tr> provide a mix of wital growth ar illCDm8. rt is the TIu5t8e5' PDlicy to hold these invested lund5 to malle grants and donations oul of the Income arfslng. The Investsd fvnds are dthled In Note 12 on Page 9. and the Trustees consider these are needed to enable the Trust to continue exercising its giant making The Trustees have concluded Ihal hokding reserves Is unnecessary, they V11 only dlslrlbute income as donations or gTants to the maximum avalable in any given year. UndistribLrted funds al the end ol the period are carried fornya lo be applied to ILrture grant making. Golng Concern Accounting standards requlre the Trustees lo Consider Iho approprlatsness of the going ¢on¢ern bas1$ when pr8partng the flnanclal statements. After making appropriate enquiries, the Trustees have a reasonable expectation that the charlty has adequ81e resources lo continue In operatlonal eXIenCe for the foreseeable lulLtre. For Ihls reason. they eontinue to adopt the golng concern basls In pr8parlng the financial stal¢ments. Further details regarding lh9 adoption ol thg goiru concem basis can be found in the Accounlir¥J Poliags. ResoNes Pollcy The trustees a satlsfioy Mryth the financial performance of the charfty in the year and the level of resorvos held. Whilst the chartty does not have a formal reserves policy. the trustees manage tho funds of the charity so as to dlstribute the income generated from investing th9 Initi £165,272 donallon. The amount of reserves held at the year end lolalled £1,482. Investments are held in the IOTM of fixed temi cagh deplts and equity shares. The trustees aim to hold Investments on a low risk envlronment where preSerVaOn ol the capltal sum Is the key oble¢tlve. The truslees are saknsfled that Ihese obl11¥e5 have been met in the period. Tho trustees, annLHI report wag approwl on 44 trustees by: nd signed on b8haM of the board of Mrs G M Atherton Tnjstee
The G M Atherton Foundation
Statement of Financial Activities
Year ended 31 March 2025
| Period from | ||||
|---|---|---|---|---|
| 15 Dec 22 to | ||||
| Year to 31 Mar 25 | 31 Mar 24 | |||
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | – | – | 165,314 |
| Investment income | 5 | 2,106 | 2,106 | 2,164 |
| ������� | ������� | ��������� | ||
| Total income | 2,106 | 2,106 | 167,478 | |
| ������� | ������� | ��������� | ||
| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 1,684 | 1,684 | 2,844 |
| Other expenditure | 8 | 1,950 | 1,950 | – |
| ������� | ������� | ��������� | ||
| Total expenditure | 3,634 | 3,634 | 2,844 | |
| ������� | ������� | ��������� | ||
| Net losses on investments | 9 | 3,909 | 3,909 | 19,740 |
| ������� | ������� | ��������� | ||
| Net (expenditure)/income and net movement in funds | (5,437) | (5,437) | 144,894 | |
| ������� | ������� | ��������� | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 144,894 | 144,894 | – | |
| ��������� | ��������� | ��������� | ||
| Total funds carried forward | 139,457 | 139,457 | 144,894 | |
| ��������� | ��������� | ��������� |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 5 to 9 form part of these financial statements.
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The G M Atherton Foundallon Statement ol Flnanclal Posltlon 31 March 2025 2024 Nots Flxod a$sets Investments 12 138,815 142,753 Current as•t¥ Cash al bank and In hand 1,482 3,281 Cvedltors: amounts falllng duo wlthln ono yoar Net current ossets 13 642 2,141 144,894 Total 488ats l•ss current Ilabllltles 139,457 189,457 144.894 Fund8 of Ihe charfty Unrestricted funds 139,457 139,457 144.894 144,894 Total ¢h•rlty funds 14 These ftnanclal statements were approved by the b)ard of truslees and authorlsed tor issue on 'kn.zpid are signed on beham of the board by: Mrs G M Atherton Trusleo The note* on pages S to 9 fomi 0fth fkn8n¢lo1 •tstemnl&
The G M Atherton Foundation
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Digges Place, Out Elmstead Lane, Barham, Canterbury, CT4 6PJ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction price. At the end of each reporting period, they are restated at their fair value (market value) at the reporting date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading "Net gains/(losses) on investments" in the Statement of Financial Activities.
The charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity and other investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment concerning equities and within particular sectors or sub-sectors.
Basis of preparation
The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. They have a reasonable expectation that the charity has adequate reserves to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows; the requirement of paragraph 3.17(d); the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 1l.48(a)(iii), I l.48(a)(iv), l l.48(b) and l l.48(c); the requirement of paragraph 33.7.
Going concern
There are no material uncertainties about the charity's ability to continue.
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The G M Atherton Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The Charity is exempt from tax on its charitable activities.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for parlicular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements
Investment income, gains and losses are allocated to the appropriate fund.
Incoming resources
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Financial instruments
The charity has chosen to adopt Section 11 of FRS102 in respect of financial instruments. The charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans, of which the charity has none.
Investment assets are measured at fair value. Short term debtors are measured at transaction price, less any impairment. Short terms creditors are measured at transaction price.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Income from share transfer | – | – | 165,314 | 165,314 |
| ���� | ���� | ��������� | ��������� |
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The G M Atherton Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2025
5. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Income from listed investments | 2,002 | 2,002 | 2,074 | 2,074 | |
| Income from cash investments | 104 | 104 | 90 | 90 | |
| ������� | ������� | ������� | ������� | ||
| 2,106 | 2,106 | 2,164 | 2,164 | ||
| ������� | ������� | ������� | ������� | ||
| 6. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Support costs | 1,684 | 1,684 | 2,844 | 2,844 | |
| ������� | ������� | ������� | ������� | ||
| 7. | Expenditure on charitable activities by activity type | ||||
| Total funds | Total fund | ||||
| Support costs | 2025 | 2024 | |||
| £ | £ | £ | |||
| Governance costs | 1,684 | 1,684 | 2,844 | ||
| ������� | ������� | ������� | |||
| 8. | Other expenditure | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Charitable Giving | 1,950 | 1,950 | – | – | |
| ������� | ������� | ���� | ���� | ||
| 9. | Net losses on investments | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on other investment | |||||
| assets (realised) | (117) | (117) | – | – | |
| Gains/(losses) on other investment | |||||
| assets (unrealised) | (3,792) | (3,792) | (19,740) | (19,740) | |
| ������� | ������� | �������� | �������� | ||
| (3,909) | (3,909) | (19,740) | (19,740) | ||
| ������� | ������� | �������� | �������� | ||
| 10. | Independent examination fees | ||||
| Period from | |||||
| Year to | 15 Dec 22 to | ||||
| 31 Mar 25 | 31 Mar 24 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 840 | 1,140 | |||
| ���� | ������� |
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The G M Atherton Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2025
11. Trustee remuneration and expenses
There were no trustees' remuneration or other benefits for the year ended 31 March 2025.
12. Investments
| Other | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 April 2024 | 142,753 |
| Additions | 52,081 |
| Disposals | (52,227) |
| Fair value movements | (3,792) |
| ��������� | |
| At 31 March 2025 | 138,815 |
| ��������� | |
| Impairment | |
| At 1 April 2024 and 31 March 2025 | – |
| ��������� | |
| Carrying amount | |
| At 31 March 2025 | 138,815 |
| ��������� | |
| At 31 March 2024 | 142,753 |
| ��������� |
All investments shown above are held at valuation.
13. Creditors: amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 840 | 1,140 |
| ���� | ������� |
14. Analysis of charitable funds
Unrestricted funds
| At | ||||||
|---|---|---|---|---|---|---|
| At | Gains and | 31 March 202 | ||||
| 1 April 2024 | Income | Expenditure | losses | 5 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 144,894 | 2,106 | (3,634) | (3,909) | 139,457 | |
| ��������� | ������� | ������� | ������� | ��������� | ||
| At | At | |||||
| 15 December | Gains and | 31 March 202 | ||||
| 2022 | Income | Expenditure | losses | 4 | ||
| £ | £ | £ | £ | £ | ||
| General funds | – ���� |
167,478 ��������� |
(2,844) ������� |
(19,740) �������� |
144,894 ��������� |
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The G M Atherton Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2025
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2025 | |
| £ | £ | |
| Investments | 138,815 | 138,815 |
| Current assets | 1,482 | 1,482 |
| Creditors less than 1 year | (840) | (840) |
| ��������� | ��������� | |
| Net assets | 139,457 | 139,457 |
| ��������� | ��������� | |
| Unrestricted | Total Funds | |
| Funds | 2024 | |
| £ | £ | |
| Investments | 142,753 | 142,753 |
| Current assets | 3,281 | 3,281 |
| Creditors less than 1 year | (1,140) | (1,140) |
| ��������� | ��������� | |
| Net assets | 144,894 | 144,894 |
| ��������� | ��������� |
9