Moore Thompson Trusted Advisers Chartered Accountants Registered Number CE031659 Charity Number 1202172 THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Charitable Incorporated Organlsation Audited Financial Statements for the period ended 31 December 2023
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Index for the period ended 31 December 2023 Legal and Adminislralive Information Trustees. Annual ReF4)rt Independent Audilorfs Report Stslemenl of Financial Actiwties Balance Sheet Notes to the Financial Statements 10-14
THE JOHN AND MAIJREEN BIGGADIKE FOUNDATION Legal and Administrative Infomiation for the period ended 31 December 2023 Trustees Rich8rd Waller Lewis Chair Steven Raymond Adcock Joanna Margat Chadlon Dawd Hemmanl Faye Louise Blair LLB Mary Elizabeth Pea Dennis John Grimwocrtj Appointed 29 April 2021 Appoinled 25 May 2023 Appoinled 25 May 2023 Appointed 29 April 2021 Appointed 29 April 2021 Appoinled 29 April 2021 Appoinled 29 April 2021 R¢glstered office 23 New Road Spalding Lincolnshire PE11 1DH Auditors Moore Thornp50n Bank House Broad Street Spalding PE11 1TB Solieitors Maples Solicitors LLP 23 New Road Spalding Lincolnshi PE11 IDH
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Trustees. Annual Report for the period ended 31 December 2023 The Iruslee5 have pleasure in presenting their report and the audiled financial stalemenls of the charitable incorporated organisation for the period ended 31 Dember 2023. INTRODUCTION The John and Maureen Biggadike FOUrallOn was cated on 29 April 2021 and was Tegislered as a charililable incorporaled organisation on 3 March 2023. These financial slalemenis cover the period ended 31 December 2023. LEGAL STATUS The John and Maureen 8iggadike Foundation is registeced the Charity Commission in Englan¢J and Wales as a Charitable Incorporated OTganisation. registration numbef CE031659 and charity number 1202172. The principal office is 23 New Road. Spalding, Lincolnshire, PE11 1 DH. OBJECTIVES OF THE JOHN AND MAUREEN BIGGADIKE FOUNDATION The objectives of the foundation as set out in the conslilub.on are as follows.. To advance such charitable purposes {according to the law of England and Wales) as the trustees see fil from limg to lime wthin the Soulh Holland District Council area with particular preference lo chariiablg purposes be5ng Carried out in the parishes of Moullon Weston and Whaplode. ORGANISATION The foundation is govemed by a Board ol Trustees comprising al least three bul no more than eight trustees. Training is provided lo keep trLEslees up to dale ¥th new gIslatIon on a regular basis. RISK MANAGEMENT The Board of Trustees has conducted its own review of the major risks to which the chaTltable incorporated organisation is exposed and systems have been established to miligate those risks. Significant extemal risks lo funLfing have led to the development of a slrategic plan. Internal risks are minimised by the implementation of procedu$ for 3ulhorisation of all transactions and projecls and lo ensure qualtty of delivery lor all operational aspecis ol the chariiable InrpOraled organisation.
THE JOHN AND NIAUREEN BIGGADIKE FOUNDATION Trustees. Annual Report (continued) for the period ended 31 December 2023 GRANTS POLICY In order for the foundation to meet its objectives the primary waywill be lo make grants lo local charities and charities operaling in the area of benefit. The intent will be for those grants to be used for projects rather than general expenses. Cri(eria The fiJndamenlal requirement is that grants made will be for the public benefit. It is impossible lo quantify whether providing funds for vouchers for relief in need charikn.es has a better public benefit than helping ntsvate part of a windmill or pioviding replacement play equipment for children. As such each application will have lo be considered on its merits. Preference will be gNen lo projects rather than meeting running expenses bul major repaiTS lo lIage halls may well be considered a project rather than routine maintenance. The late Mr. 8i9gadike was always keen lo help people help Ihemsefves so in so far as il is possible grants of small sums lo small organisalions would be a considered a priority. These a organisations that often do not qualify wth major funders or find their application processes loo cumbersome. In that regard we propose a simple application covering who the applicant is. what it does, why it Wants grant and what it 11 do wlh it. A briel oulline of its financial position and any other pending or intended grant applicalions will be reouired. Normalty payment will be direct to the applKant organisation but in the case of small entities we may well wish lo pay invoices direcl. Monitoring Evidence ot how the money is spent will be required. We envisage that in many cases such as building works we will be able to inspect personally or wilh phologiaphic emdence. Where grants are paid lo enable sums lo be di51ribuled a short accounl showing how and where the money has been spent will be required. Where the recipient is a regISted charity a certbfi¢ale from its treasurer or secretary w511 normally suffi. RESERVES POLICY 11 is the intention of the Trustees that the Foundation should continue into perpetuity, to achieve that aim il is intended Ihal some of the initial bequesl. nol currently being quired lo meet ils charitable objectives, should be used to acquire a number of investment properties lo achieve an ongoin9 income stream. 11 is the Iruslee's belief that a minimum cash reserve of approximately 6 morblhs of anlicipaled administral4ve expen4Jilure should be maintained wilh the excess proceeds from investment relums being used lo meet the Foundatson's charitable objectives. THE TRUSTEES The Trustees who seNed the charilable incorporated organisalion during the period are lisled on the legal and administratNe information page. on page 1.
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Trustees. Annual Report (conlinued) for the period ended 31 Decembèr 2023 TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Trustees Annual Re[rt and the finanrjal statements in accofdance with applicable law and Uniied Kingdom Accounling Slandards {Uniled Kingdom Generally Accepled Accounting Practice). Charity law requbres the tnJstees to prepare financial slalements for each financial yeaf which give a true and fair view of the stale of affairs of the chariiable incoporaled oranisation and of the incoming resources and application of resources. including the income and expenditure. of the CIO for that period. In preparing these rinancial slalements. the trustees are required to= select suitable accounting potiLaes and then apply Ihem consislentty., observe the methocls and principles in the Charilies SORP-. make judgements and eslimales that are reasonable and prudent-. stale whether applicable UK Accounting Slandards have been followed, subject lo any material departures disclosed and explained in the finanual 51alements- prepaie the financial stalemenis on the going Goncern basis unless it is inappropriate to presume that the CIO will continue in operation. The tnjstees are responsible for keeping proper accounting records that disclose vAth 3$Onable accuracy al any lime the financial position of ihe CIO and enable the proper preparation of the financial sialemenls. The Iruslees are also responsible for safe9uarding Ihe assets of the CIO and hence for taking reasonable steps for the prevention 8fbd detection of fraud and olher irregularities. PUBLIC BENEFIT The lrnJ51ees have constdered the Charity Commission's guidance on public benefrt and believe that the objects of the trust and the activities undertaken support this public benefit. The tnjslees ¢on5ider that the full delails of the public benefit have been displayed within the review of their grant making and monitoring policy. INDEPENDENT AUDITORS A resolution to re-appoint Messrs. Moore Thompson a5 indepeThJent auditors for Ihe ensuing year will be Pfoposed at the annual general meeb'ng. Signed by order of the Trustees Richard Walter Lewis - Chair Approved by the Trustees on .................
Independent Auditorfs Report to the trustees of the THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Independent Auditovs Report to the Tru$tee5 of The John and Maureen Blggadike Foundation for the period ended 31 December 2023. Oplnion We have audited the financial slalements of The John and Maureen Biggadike Foundation Ithe '¢harilable incorporated organisation'l for the period ended 31 Dember 2023 which comprise the Statement of Financial Activities. the Balance Sheet. and notes lo the financial statemenls. including significant accounting policies. The financial Teporting framework thal has been applied in Iheir preparation is applicable law and United Kingdom Accounling Standards. including Financial Reporting Standard 102 The Financial Reporting Skndard applicable in the UK antl Republic of Ireland (United Kingdom Generdlly ACpIed Accounting Praclicel. In our opinion the financial slalements.. give a twe and fair view of the state of Ihe CIO'S affairs as at 31 December 2023. and of ils incoming resources and application of resources, including ils income and expenditure. for the period then ended,. have been prOpeY prepared in accordance wih United Ktngdom Generally Accepted Accounting Practice.. and have been prepa in accordance with the reqU1MentS of the Charities Acl 2011. Basis for opinion We conducted our audit in accordance with Internalal Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibiltti.es under those standards are further descfibed in the auditor responsibilities for the audit of the financial statements seclion of our report. We are independenl of the CIO in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan wilh thése requirements. We believe that the audil eviden we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to goln9 concern In auditing the financial slalemenls. we have concluded thal the Iruslees, use of Ihe going concem basis ot accounting in the preparalion of Ihe financial sialemenls is appropriate. Based on the work we have performed, we have not idenlified any material uncertainties relating lo evenis or conditions that, ir)dyvidually or collectively. may casl significanl doubt on the charitls ability to conlinue as a going concem for a period of at least Iwefve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibililie5 of ihe Iruslee5 wth respect to going concern are described irs the relevanl sections of this report.
Independent Audltorfs Report to the trustees of the THE JOHN AND MAUREEN BIGGADIKE FOUNDATION (Continued) Other infomiatlon The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's rert thereon. The Iruslees are responsible for the other infornialion. Our opinion on ihe financial slalements (Joes not cover the other information and we do not express any fom of assurance conclvsion thereon. Our responsibility is lo read the olher information and. in doing so, consider whether the other information is materially incon5islent the financial sialemenls or our knowledge obtained in the course of the audit or otherwise appears lo be malerially misstated. If we identrfy such malerial inconsislencies or apparent material misslalemenls. we are reouired lo determine whether this gives rise lo a material misstatemenl in the rinancial statements themselves. If, based on the work we have perfom)ed. we conclude that there is a material misstatement of U)is other infom)ation. we are required to report that fact. Wè have nothing to port in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the followng matters in relation to which the Charilies (Accounts and Reports) Regulations 2008 require us to report lo you if, in our opinion.. the information given in the trustees. report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept.. or the financial statements are not in agreement wilh the accounting records.. or we have not receNed all the information and explanations we require for our audit. Responsibilities of trustees As explalned more fully in the trustees. responsibilities stalemenl set out on page 4. the Iruslees are responsible for the preparaiion of the finaneial slatemenis and for being satisfied that they give a true and fair view. and for such inlernal conirol as the injstees determine is necessary lo enable the preparalion of financial sialemenls Ihal are free from material misstatement. whether due lo fraud or error. In preparing the financial slatemenis. Ihe trustees are responsible for assessing the CIO'S ability lo continue as a going concem. disclosing. as applicable. matters related lo going con¢em and using the going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic altematNe but to do so.
Independent Auditorfs Report to the trustees of the THE JOHN AND MAUREEN BIGGADIKE FOUNDATION (Continued) Auditor respon$ibilÉties for th8 audit of the financial statements We have been appointed as auditor under section 144 of the Chariiies Act 2011 and port in accordance with the Act and relevant regula1Jns made or having effect Ihereunder. Our objectives are to obtain ieasonable a55urance at1 wheiher the financial statements as a whole are free from material mi55tatemenl. wheiher due to fraud or error. and lo issue an auditor's Teport that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS IUKI wll always ¢Jetect a material misslalemenl when it exists. Mi5Statements can arise from fraud or ernor and are considered material if. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on Ihe basis ol these fanancial statemenls. Irregularities, including fraud. are insiances of non-compliarbce wih laws and regulations. We design procedures in line our responsibilities. oullTrned above. io delect malerial misslalements tn respect of irregularities, including fraud. The exlenl to which our proCedUS are capable of delecling irregularities. including fraud is detailed below= enquiry of management around actual and potenlial liligalion and claims.. reviewing finanoal slalemenl disclosures and tesiing to supporting documenlalion lo assess compliance th applicable laws and regulations., and perfomiing audit work over the risk of management override of controls. induding reviewing of joumal entries and other adjustments for appropriateness, and reviewing accounling estimate5 for bias. Because of the inherent limilations of an audil. Ihere is a risk thal we will not delecl all irregularities. indLtding those leading to a material missialemenl in the financial statements or non-complian¢e wlh regulation. This Tlsk increases the more that compliance wilh a law or regulation i5 removed from the events and transactions ieflecled in the financial slalements, as we wll be less likely to become aware of instarbces of non-compliance. The risk is also greater regardin9 irregularities occurring due to fraud ralher than error. as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. A further description of our responsibilities is availabfe on the FRC'S website al www.frc.org.uklaudilorsresponsibililies. This descriptson lorms pari of our auditor's report. Use ofour report This report is made solely lo the charitys trustees. as a body, in accordance with Part 4 of the Charities (Aecounls and Reports) Regulations 2008. Our audit WOTk has been undertaken so that we might slate lo Ihe charity's truslees Ihose matters we are required to stale to thern in an audilor's feport and lor no other purpose. To the fullest extent pemiilted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audit vrk. for ihis report. or for Ihe opinions we have fomied. Moore Thompson Islatutory Auditor) Chartered Accounlanls B8nk House Broad Streèt Spalding PE11 1T8 Dale..................................... Moore Thompson is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Statement of Financial Actlvltles {including Income and Expenditure a¢¢ount) for the period ended 31 December 2023 2023 Unrestricted Funds Total Funds Note Income from= Donalion5 and grants Investment Income 1,937,363 26.148 1,963.510 1.937.363 26.148 1.963,510 Total income Expenditure on: Charitable aclivities Investment management Management & delivery Total expenditure 19.444 960 6.689 27,093 19.444 960 6.689 27.093 Net movement n funds 1.936.417 1.936.417 Re¢on¢lliation of funds: Total funds carried forwafd 12 1.936.417 1,936.417 Al of the 8clivilies of the char41able irOrpOrated organisation are classed as continuing aclivslies. The slalement of Financial Activities includes all gains aThl losses recognised in the year. The notes on pages 10 10 14 form part of these financial statements.
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Balance Sheet At 31 December 2023 2023 Note Fixed assets Inveslmenl Propety 335,000 Current assets Debtors Cash at bank and in harKI 10 111.788 1.499,892 1.611.681 Creditors: Amounts falling due wlthln on• ar 11 {10,2631 Net current assets 1,601.417 1,936.417 Total assets less current liabilities Funds Unrestricted 12 1.936,417 1.936,417 These financial statements were approved and authorised by the Trustees on 24 signed on their behalf by.. 10 and are Richard Walter Lewls - Chalr Faye Louise Bl a5urer The noles on pages 10 10 14 fomi part of these finanryal slatements.
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Notes to the Financial Statements for the period ended 31 December 2023 1. Accounting poll¢l&$ General information and basis of accounting The John and Maureen Biggadike FoLEndation is regislere(J wilh the Charity Commission in England and Wales as a Charitable Incorporated Organisalion. registration number CE031659 and charity number 1202172. The principal office is 23 New Road. Spalding, Lincolnshire, PE11 1 DH. The CIO conslilules a public benefit entty as defined by FRS 102. The financial slalèments have been prepared in accordance wth Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance wÉth the Financial Reporting Standard applieable in the UK and Republic of Ireland issued in October 2019, thè Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 1021. the Charities Act 2011. and UK Generally Accepted Accounling Practsce. The financial slalemenls are ppared on a going concem basis under the historical cost convention, modified lo include certain ilems at fair value. The financial statements are presented in sterling which is the fLbnctional currency of the CIO. The significant accounting policies applied in the pparatIOn are sel out below. These policies have been consislenuy applied lo all years presented unless otherwise staled. Funds Unrestricted funds are availablè for use at the discretion of the trustees in furtherance of the general objectwes of the CIO and which have not been designaled for other purposes. In¢ome recognition All incoming resources are induded in the Slalement of Financial Aclivilies when the CIO 15 legally entitled lo the income after any performance condilions have been met. Ihe amount can be measured reliably and (( is probable that the income wll be received. For donations lo be recognised the CIO wll have been notified of the amounts and the setuement dale in writing. It there are conditions attached lo the donation and this requires a level of perfomian¢e before enliuemenl can be obtained then income is deferred until those conditions are fully met or the fu5filment of Ihose conditions is within Ihe controE of ihe CIO and it is piobable that they wll be fulfilled. Interest on lunds held on deposit is included when receivable and the amount can be measured reliably by the company,. this is normally uton notifi¢ation of the interest pa¢d or payable by the bank. Expenditure recognition Al expenditure is accounted for on an accruals basis and has been cla5srfied under headings that aggregate all costs related lo the category. Expenditure is recognised where Ihefe is a legal or constructive obligation to make payments lo third parties. it is probable that the setuemenl will be required and the amount of the obligalton can be measured reliably. Charitsble activity expenditure ccmprises grants paydble included on an accruals basis. Support cosis are those that assist the work of the CIO but do not direcuy represent charitable actsvities and include administralwe costs. They are incurred direclly in support of expendÉture on the objects of the CIO. Govem8llce costs a costs of chariiable aclivilie5 but those which relate to the govemance and stewardship of the CIO rather than directty lo the activities themselves. 10-
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Notes to the Financial Statements (continued) for the period ended 31 December 2023 1. Aeeounting policies Investment property Inveslmenl properties a induded in the balae sheet ai fair value determined annually and are not depreciated. Debtors and Creditors receivablelpayable within one year Debtors and creditors wth no stsled inlerest rale an(J receivable or payable wlhin one year are recorded at transactiorE price. Any losses arising from impairment are recognised in expenditure. Taxation The CIO is an exempt charity wthin the meanirg of schedule 3 of the Charities Act 2011 and is considered lo pass the lests set oul in Paragraph 1 Schedule 6 Finan Acl 2010 and therefore il meets the definition ol a charity for UK corporation tsx purposes. Going concern The financial statements have been pPared on a going concem basis as Ihe trustees believe that no material uncertainties exist. The Iruslees have considered the level of funds held and the expected level of income and expenditure for 12 monlhs from aulhorising these financial siatements. The budgeted income and expenditure is suffiejent with the level of reserves for the charity to be able lo continue as a going concern. Judgements and key sources of estimation uncertainty The preparatvjn of the financial statements requires managemenl to make judgèments. estimatès and assumptions thal affect Ihe amounis reported. These esb"mates and judgernenls are continually reviewe(J and are based on expeftence and other faclors. induding expectalions of future evenls that are believed lo be reasonable under the Circumstances. Revisions lo accounting eslimales afe recognised in the period in which the estimale is vISed rf the revision affecis only that period or in the period of the revision and future periods rf the revision affects both current and future periods. The useful economic life used lo depreciate tangible fixed assets relales to the expected future Performan of the assets acquired and management's estimate of the period over which economic benefit will be derived from the asset. The residual value of an asset is the esbmaled fair value of that assel al Ihe end of ils useful economic lrfe and therefore is also dependent upon the estimation ol Ihat life span. Historically, changes lo the useful economic life and residual values have not had a material impacl on the depreciation amount charge to the Statement of Financial Acts"vities. Cut-off is applied al the year end date. An estimation of income or expenditure applicable lo the relevant period musl be applied when the receipt or payment relales to a differerst period lo the year end.
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Notes to the Financial Statements {continued) for the period ended 31 December 2023 2. Income from donations and grants Total Funds 2023 Unrestricted Funds Donations 1.937,363 1,937,363 3. Investment Income Total Funds 2023 unrestricted Funds Rents from investment properties Interest receivable 10.000 16,148 26,148 10,000 16,148 26,148 4. Charitable activities Total Funds 2023 UnrèstrÉct•d Funds Grants payable Moulton chUh Moulton Harrox FC Moullon Tols & Carers Moullon Rainbows Saracens Head Village Hall Pupil Premium Scheme Charitable cost5 Moullon Warni Spaces 2.500 1.250 1,000 500 1,776 11,900 2,500 1,250 1,000 500 1,776 11.900 518 518 19.444 19,444 S. Investment management costs Total Funds 2023 Unrestricted Funds Professional fees- managemenl mMiSsion 960 960 12-
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Notes to the Financial Statements (continued) for the period ended 31 December 2023 6. Management and delNery of charity's purposes Total Funds 2023 Unrestrlcted Funds Rental property costs Advertising Lal & professional Indpendenl Auditor's remuneration 409 100 4.500 1,680 6.689 409 100 4,500 1.680 6.689 7. Total expènditure Total Funds 2023 Note Direct Costs Support Costs Govemance Costs Charitable activities Investment management Managemenl & delivery 19.444 19,444 960 6,689 27,093 960 409 6,280 6.280 19.444 1,369 8. Staff costs and employee benefits No staff are employed by the FouThJalion. No amounts are payable to Ihe trustees in respect of remuneration. benefits in kind or reimbursemenl of expenses. 9. Invèstment Property 2023 Market Value Additions 335,000 335.000 Al 31 December 2023 The addition represents a property bequest lo the FOundatn as part of the estate of the late John Biggadike al 6 Broad Lane, Moullon Lincs. dale ol dealh 29 April 2021. The addition is staled al the probate value for the estate purposes. The Iruslees believe that the value is not considered to have changed in the pgriod to 31 December 2023 due to its use as a rentsl pryrty. 13-
THE JOHN AND MAUREEN BIGGADIKE FOUNDATION Notes to the Financial Statements (continued) for the period ended 31 Oecember 2023 10. Debtors 2023 Sundry deblors Prepayments Loans 1.623 526 109,639 111,788 The loan repSentS conlributions made to the Weston Consolidaled Charity to assist w3th the construction ol new Ams Houses. RepayTnent to the Foundation wll be made trom disposals of some of the charitys existing assets which can be done followng the completion of the Alms Houses. Interest is not charged on this loan as in the OnI)n of the trustees the objectives of Weston Consolidaled Charity are consislenl wlh the Foundation's own objectNes and the decision lo waive interest is therefore ¥) line with the Foundation meeting its own charitable objectives. 11. Creditors: Amounts falling due within one year 2023 Trade creditors Grants payable Accruals and deferred irwme 307 1,776 8,180 10,263 The Iwslees have accrued a5 a liability granls payable. where the qualilying condilions have been mel al the balance sheet dale. and the grant has been approved for payment by the truslees. 12. Stat8m8nt of funds Movèmènt in r¢sour¢os Balance at 31 Dec 2023 Incoming Outgolng Transfers General funds General lund 1,963,510 1.963.510 (27,093) {27.093 1,936,417 1,936,417 Totsl un$1cted funds 13. Control relatlonship The ¢h8ritsble incorporated organisalion is conlrolled by the tnJstees joinuy and no individual can or does exert conlrol over the others. 14-