ALFRED H KNIGHT FOUNDATION LIMITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS For the year ended 31 January 2024 Charity Number 1202091 Company Number 13877847
ALFRED H KNIGHT FOUNDATION LIMITED Contents Page Members Of The Board And Professional Advisors Trustees Annual Report Independent Examiner'5 Report To The Trustees Of Alfred H Knight Foundation Limited Staternent Of Financial Activities Ilncluding Income And Expenditure Account) Balance Sheet Notes To The Financial Statements
ALFRED H KNIGHT FOUNDATION LIMITED Members of the Board and Professional Advisors Registèred Charity name Alfred H Knight Foundation Limited Charity Number 1202091 cOmnY Number 13877847 DirectorslTrustees A D Knight D l L Knight J A Knight Principal and Registered Office King5 8u5ine5s Park King5 Drive Prescot England L34 IPJ Independent Examiner Mitchell Charle5WOrth (Audit) Limited Chartered Accountants 3Td Floor 44 Peter Street Manchester M2 5GP Banker HSBC UK Bank PLC 2-4 St Anns Square Manchester M2 7HD
ALFRED H KNIGHT FOUNDATION LIMITED Trustees Annual Report Year ended 31 January 2024 The Trustees present their report and the unaudited accounts of the Charity for the year ended 31 January 2024. Reference and administrative details Reference and administrative details are shown in the schedule of members of the board and professional advisers on page l of the accounts. Trustees The trustees who served the charity during the period were as follows.. A D Knight D J L Knight J A Knight Introduction Alfred H Knight Foundation. established in 2022. is a charitv Set up a5 a limited company (Company No. 138778471 and registered to the Charity Commission ICh3rity No. 12020911. The Foundation has been set up by the owners of Alfred H. Knight Holdings Limited in order to increase its pre-existing charitable attivities and to help fulfil their wider philanthropic aspirations. The governing document is its memorandum and articles incorporated 28 Jan 2022 as amended by special resolutionlsl dated 29 Sep 2022 as registered at Cornpanies House on 14 Oct 2022. The trustees of the Foundation are members of the Knight Family. All trustees have complied with their duty to have due regard to the commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Alfred H. Knight Holdings Limited and Subsidiary Companies known as the Alfred H Knight Group IAHKI prides itself on providing career opportunities for the local area in which it operates gltsbally and it is hoped that through the Foundation our relationships with the local communities can be enhanced. The Foundation has been set-up to continue building on our ch3ritabl& givin& with the vision to make a positive impact on the lives of those who are less fortunate, more specific311y, focusing on supporting children. We intend to t3rget Causes that are within catchment areas of where we operate, in order to build a stronger bond with the local communities. If our goal 15 met. we hope that we can make a Small but Positive difference to those who are less fortunate.. aitning to better their life prospect5 and opportunitie5 Wlth the ultimate airn of breaking the poverty cycle and inspiring them into the world of work. Whilst we still have an aspiration to focus some of our giving tOW3rds STEM related projerts, we fully understand that in many cases, and in many locations, charities are focused on tackling the more basic needs, such as v4ater, health, utilities, infrastrutture or education generally. Consequently* we aspire to be flexible in our approach and aim to be open minded when selecting our potential beneficiarie5. It is the intention that the charity's principal source of funds will predominantly come from the profits generated from Alfred H. Knight Holdings Limited. Foundation Activities The Hive Charity Wirral Youth Zone. named by young people as The Hive,. is a purpose-built facility for young people aged 8- 19. and up to 25 for those with disabilities. The Youth Zone is located next to the new fire station on Bright Street. in the centre of Birkenhead and opened on 8th April 2017. This infrastructure of facilities is based upon a 21st Century Youth Facility Model and young people from across the Wirral have access to fantastic facilitie5 for a cost of £5 lor an annual membership and Sop per visit. However. a child rnay enter for free depending on their circumstances.
ALFRED H KNIGHT FOUNDATION LIMITED Trustees Annual Report {CLtInued) Year ended 31 January 2024 The Youth Zone provides a safe environment where young people can corne and enjoy themselves and enables young people to raise their aspirations and confidence to create a happier and healthier generation. AHK Foundation worked closely with the Hive Charity to set up a bespoke program that would help the children engage In STEM activities. More details on the program can be found below.. The Hive (Birkenhead. UKI The Hl¥e 100 Event £1,000 was donated tts The Hive 100 Event by the AHK Foundation in July 2023 The Hive Bright Sparks STEM Programme This was an annual programrne designed to provide open session activities within The Hive's recreational areas. Different sessions were set up for different age eroups. £16,921 was donated to the Bright Sparks STEM programme at the Hive by the AHK Foundation. The irustees have seen the succes5 of the STEM sessions which have gone down really well. The aim of the programme was to empower young people to thrive by generating endle55 activitie5 to unlock their imagination and cultivate creativity The activities The Hive was able to deliver has developed young pple'S team building skills, working as a collective to resolve problems and explore hands on learning together in a fun, inclusive environment The nature of the programme has helped to show the children how they can use their school subjetts in everydav life. and encourage their engagement within their school setting.. therefore the impact of the programme will re50nate beyond the wa115 of The Hive The Hive is situated in one of the top 1.5% deprived areas in the country. hence this programme will directly address the issue of the barriers to educ3tion and opportunities many of our young people face. We have seen how STEM promotes equality between our members Funsanl (Kltwe, Zambial In September 2023 the AHK Foundation began engaging with the Funsani charity. Fun5ani is a UK-based charity that supports Funsani Home, an orphanage in Kitwe for children orphaned by HIV, alongside a number of partner projects and organisations across Zambia. The charity is located within the area in which our Family Business has operations in Kitwe, Zambia. The charity 15 led by volunteers who believe each child who has been orphaned to HIV deserves an education and 5UPPOrt to live a healthy, productive life. Since the charity was founded 21 years ago, they have 5UPPOrted over IS youngsters who grew up in Funsani Home over the years, and are now working as teachers, civil engineers, electrical engineers, clinical officers, and nurses. In the past few years, the charity welcomed nine new children into the home- as part of plans io further expand the charity's impact in a sustainable way. On 12th November 2023. Andrew Knight IAlfred H Knight Foundation trusteel visited the home to meet the children. it5 volunteers and understand in more detail the challenges the Funsani home faces on a day to day basis. This visit, 31ong with a bespoke proposal provided b¥ Funsani, helped the Alfred H Knight Foundation come to a decision on how much io donate and where the funds would be focused. It is the intention for the AHK Foundation to make a donation to Funsani in the first half of 2024.
ALFRED H KNIGHT FOUNDATION LIMITED Trustees Annual ReportICLtAlOI Year ended 31 January 2024 Future Planning It is the 8oal of the Foundation to be8in its journey ot continuin8 to support C3uses that fit in with its aims and objecrives. As was hi8hli8hted in the previous year's annual report, there will continue to be a settin8 up period that will locus on esrabli5hin8 a communications strategy and idefttifyin8 some initial beneliciaries io focus on. We aspire in the next reportin8 vear to add more beneficlarles to the portlolio that flt with the Foundations charltable alms and oblectlves. Furthèr dowfi the line. St Is thè Inièntlon ihai an operatlonal plan will bè set up tts Ènsurè thè followtng areas are toverÈd= Day-to.day runnlng of the Foundation, inkially managed bythe trv#ees. This will Indude periodK reviews of web tonient and enqulrles. There wlll also be on80in8 seaichln8 for Potential benefitiarles the UK and overseas based on pre.e5tabli5hed criteria. This will include.. leverayng staff £ontact5 to encourage employee engagernent.. meetlng / talkin8 wlth charStie5 wlth a simSlar locu5 and tar8eted Internet searchÈ5. 2. Commun¢cations 5traie8y thai focuse5 on ensuring there is appropriate and updated content on our fvture website and %)dal medla platforms. Accountin8 & compliance will be managed throu8h qualilied AHK stall volunieerin8 their time and we will ensure attention 15 given to the leBal respon51bilities of ihe Charity. Any external legal and a£countin8 advice will be sought if requlred. Employee enBa8ement, both in the UK and oversea5. Found•tSon Comml¢tee In order to manage the ongoln£ planning and stratey of the Foundation, a committee wlll t)e established that includes approprlate stakeholders wtthin the Allred H Knight Group, aEong51de the trustees of the Foundatior4. It is the intention that the committee will meet on a regular basis to discuss the progress and outstanding action5 of the Foundation. with the ukimate goal of ensuring it 15 making a5 much ol a p051ti¥e impact as possible. stsiement of Trustees, Responslbilltles The frusiees afe fesponsible for preparln8 the Trustees. Annual Repon and rhe linanclal 51atements In accordance with appllcable law and Uniied Kingdom Atcouniin8 siandafds Iunited Kln8dom Generally Actepied Atcountin8 Prèttitel. The law applicable io charitle5 in Engl3nd and Wale5 fequifes the tTit5tee5 to prepare financial 5tatement5 for ezth financia1 vear which 8ive a true and f3ir view of the State of affairs of the charity and of the incominK resources and appllcation of resources of the charlty for that perTrod. In preparing these finèncial statements, the trustees are required to: select suitsble accountin8 policles and ihen apply ihem conslstenily,. observe the methods and prlnctples Sn the Charttle5 SORP.. make judgements and estlTnate5 that are reasonable and ptudent.. slate whether applicable accounting siandards have been followed, subleu to any material departures dSsclosed and explained In rhe fin8ncial siarements., prepare the fi'nancial statement5 on the going concern b•S unles5 It Is inappropriate to presume that the charity will continue In operation. The Trustees are responsible for keepin8 proper account¢n8 records that disclose with reasonable accuracy at any time the financial position ol the charity and enable them io ensure thai the linancial siatements comply with the Charities Aci 2011, and the Chariiy (Accounts and Reports) Re8ulatio¢¥s 2W8. They are also responsible for safeguarding Ihe assets ol ihe charity and hence lor taking reasonable step5 for the prevention and detection of fraud and other irregularities. S[gr by ord•f of theTru5tee5 2311012024 Olreaor l Trwtee
ALFRED H KNIGHT FOUNDATION LIMITED Independent Examiner's Report to the Trustees of Alfred H Knight Foundation Limited I report to the charity trustee5 on my exatnination of the accounts of the charity for the year ended 31 January 2024 which are set out on pages 5 to 10. 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 Charities Act 20111'the Act'l. I report in respect of rny examination of the charitV'5 accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examlner's statement I have completed rny 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.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the account5 do not accord with those records.. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair viev/ which is not a matter considered as part of an independent examination. I have no concern5 and have come acr055 no other rnatter5 in connection with the examination to which attentlon Should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alison Buckley Independent Examiner Mltchell Charlesworth (Audltl LIMlted 3rd Floor 44 Peter Street Manchester M2 5GP 2311012024
ALFRED H KNIGHT FOUNDATION LIMITED Statement of Financial Activities (including income and expenditure account) Year ended 31 January 2024 Unrestricted Unrestricted Funds 20Z4 Funds 2023 Notes In¢ome: Donations and legacies 5,0(K) Totsl income 5,0(X) Expenditure Expenditure on charitable activities 19,871 Totsl expendlture 19,871 Net incorne 60.129 5.0 Net movement of funds In the year 60,129 5,0(X) Reconclllotlon oAAunds Total funds brought forward Transfer between funds Total funds carried forward 65,IZ9 5,0(K) The statement of financial activitie5 include5 all 8ain5 and losses recognised in the year. All income and expenditure derive from continuing activitie5.
ALFRED H KNIGHT FOUNDATION LIMITED Balance Sheet A5 at 31 January 20Z4 31 ianuary 2024 31 January 2023 Cuffent assws Debtors Cash èt bank and hand io 63,(WJO 4.079 CredSt¢rs: Amounts fallSnz due wlthln 4Jnt yeJr li 11,9501 Net cuffent amets 65,129 Net assets 6S,129 The funds olthE tharrly Restficred income funds Unrestricted Income funds 65,129 Totsl char¥ funds 65,129 The cornpany15 entltled to the exemption from requirement contained In section 477 of the Companies Act 2006, for the year ended 31 January 2024. The difettors acknowledge their responsibiljtles for complwn8 wlth the requlrements of the Companles Att 2f&96 with respect to a¢countin8 iecords and the preparation ol finanual statement The members have not requifed the tompany to obtaln an audrt of its financlal 5ts1ernenls for the year In questlon In accordance wlth sectton 47& These flrtanclal statements have been prepad In accordance wlth the PrO$10n$ applicable to companies subject to the small companles teglme. 23 october 2024 The financial statemersts were approved by the dÉrectors on.. ............... J A Knight Dlreclorifru5toe
ALFRED H KNIGHT FOUNDATION LIMITED Notes to the Financial Statements Year ended 31 January 2024 Company information Alfred H Knight Foundation Mited is a private company limited by guarantee incorporated in England and Wales. The registered office is King$ Business Park, Kings Drive, Prescot, England, L34 IPJ. Attounting Polities The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. Basls of preparatlon The financial Statements have been prepared in accordance with Accounting and Reporting by Charitie5'. Staternent of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191 ICharitie5 SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these finaricial statements are rounded to the nearest E. Alfred H Knight Foundation Lirnited rneets the definition of a public benefit entity under FRS 102. As5et5 and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. Goln8 concern At the titne of approving the financial statements, the Trustees have a reasonable expectation that the charity has adeouate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern ba515 of accounting in preparing the financial staternents. Incomlng resources All incoming resources are included in the statement of fin3ncial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The tollowing specific policies are applied to particular categories of income. Donation5 and legacies are included in full in the Statement of Financial Activitie5 when received. Empenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following attivity headings.. Cost5 of raising fund5 are the direct and indirect costs of raising funds for charitable purpose5. Charitable activities include expenditure associated with the provision of the Charity's services and include both the direct costs and support costs relating to these activities. Support costs include central functions and have been allocated to activity cost categories either directly where identifiable or on a basis of time spent on supporting ènd managing projects. Other expenditure represents those items not falling into any other heading. Funds structure Restricted funds are funds subject to specific restrictive conditions imposed by the donor or by the purpose of the contract/monies received. General fund5 are unrestricted funds. which are available for use at the discretion of the Trustees in furtherance of the general objective5 of the charitv.
ALFRED H KNIGHT FOUNDATION LIMITED Notes to the Financial Statements Year ended 31 January 2024 Accounting Policie5 (Contlnuedj Cash at bank and In hand Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three month5 or less frorn the date of acquisition or openin8 of the deposit or similar account. Creditors and provisions Creditor5 and provisions are recognised where the charity ha5 a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after 311owins for anv trade discounts due. Financial instruments The Charity only ha5 financial as5et5 and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at th&ir settlement value with the exception of bank loans which are subsequently measured at amortised cost Using the effective interest method. Jud8ements and key sources of estlmatlon uncertalnty In the application of the Charity's accounting policie5, the Tru5tee5 are required to make jud8ement5, estirnales and as5UrnPtions about the c3rrying amount of assets and liabilities that are not readily app3rent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estirnates are recognised in the period in which the estimate is revised where the revision affect5 only that period, or in the period of the revision and future period5 where the revision affects both current and future periods. Unrestrlrted Unrestrirted Fund$ 2024 Funds 2023 Donations Donations and gifts 80,000 5.000 80,IJOO 5,000
ALFRED H KNIGHT FOUNDATION LIMITED Notes to the Flnanclal Statements Year ended 31 January 2024 Anaty51s of exp2nduTt on Iharltable artlvltles 2024 2023 The H5ve 17.911 Share of iob*rnance costs Isee noie 61 Governan¢e 1.950 19.871 Governance costs all¢xated to athvltles 2024 2023 Independent Examiner fees- for Independent examinatlon 1.950 1.950 Analysed beiwoen: Charltable activities 1.950 Emplo¢5 There were no Èmployèes durin8 the year. or durln8 the prior yeai. TaxatS¢>n The tharlty Is exempt Irom tax on Income an¢J galns lalllng wbthln sectlon 505 of the TaKe5 Act 1988 or sectlon 252 01 the Taxatlon of CharReable Gains Act 1992 to the ertent thai these are applied to Its chailtsble objects. Net tncoffl• for the •T 2024 2023 This is siaied after char8ing-. Independent Examlner leès- for 5ndependent examlnaiion 1.950 Debtors 2024 2023 Prepaymenis and accrued Income 63.C#XI 63,CQO io
ALFRED H KNIGHT FOUNDATION LIMITED Notes to the Financial Statements Year ended 31 January 2024 11. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 1,950 1,9SO 77.590 12. Analysis of unrestricted charitsble funds Funds at l February 2023 Funds at 31 January 2024 Incoming Resources Resources Expended Transfers Unrestritted funds General funds 5,0 80,000 119,8711 65,129 13. Related party transactlon5 During the year to 31 January 2024, Director and Trustee D J L Knight, rllade donatlOn5 to the company toialling £41,6. Additionally, family members of D J L Knight made donation5 to the company totalling £38,400. In the prior ye3r Alfred H. Knight Internation31 Limited, a company ultimately controlled by Director and Trustee D J L Knight, made donations to th& company totalling £5,000. As at 31 January 2024 there was nothSng due to or from related partles12023.. Nill. li