REGISTERED COMPANY NUMBER: CE031768 IEngland and Wales) REGISTERED CHARITY NUMBER.. 1202427 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE DIANA STARTIN FOUNDATION CIO Lewis Smith & Co Chartered Certified Accountants The Old Doctors House 74 Grange Road Dudley Wesl Midlands DY12AW
THE DIANA STARTIN FOUNDATION CIO coKrENTS OF THE FINANCIAL STATEMENTS for the year ended 31 DecerT]ber 2024 Page Reference and Administrative Details Roport of the Trustses 2 to 4 Report of the Independent Audltors Statement of Flnancial Activitiés Balance Sheet 10 Cash Flow Statement Notes to the Cash Flow Ststement 12 Note5 to the Finan¢lal Statsments 13 to 20 Detsiled Ststefflent of Financlal Activities 21
THE DIANA STARTIN FOUNDATION CIO REFERENCE AND ADMINISTRATIVE DETAILS forthe year ended 31 December 2024 TRUSTEES D S D Lodder Ms D R Wstartin Dr R Gadsby N A Waterhouse-Brown L R Igoe (resigned 28.2.241 J A l Rouse (appointed 28.2_241 REGISTERED OFFICE cjo Lodders SO1ltOrs LLP 10 Elm Court Arden Street Stratford upon Avon Warwickshire CV37 6PA REGISTERED COMPANY NUMBER CE031768 {EngEand and Wales) REGISTERED CHARITY NUMBER 12D2427 AUDITORS Lewis Smith & Co Chartered Certffied Accountants The Old D(KtO House 74 Grange Road Dudley W6£t Midlands DY12AW SOUCITORS Lodders SoliG¢iors LLP 10 Elm Court Arden Street Stratford-Upon~Avon CV37 6PA ADVISORS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Vvesl Malling Kent ME19 4JQ LDP Luckmans 1110 Elliottcourt Coventry Business Park Herald Avenue Coventry CV5 6UB Page 1
THE DIANA STARTIN FOUNDATION CIO REPORT OF THE TRUSTEES forthe yearended 31 December 2024 The trustees who are also dire¢tots of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the proiqsions of Accounting and Reporting by Charities." Stslement of Recommended Pra¢tiGe applicable to Gharrties preparing their accounts in accordance with the Financial Reporting Standard applicable in thè UK and Republic of Irel?nd IFRS 102) (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The CIO was Incorporat on 21 March 2023 under the name The Diana Stan Foundation CIO (Charitable Incorporated Organisationl under the Charity Numter 1202427. The object of the CIO is to advan such charjtable purposes (according to Ihe18w of England and Wales) as the Trustees see frt from lime to lime ¢%he Objects"). Nothing in the constitution shall authorisè an application of the property of the CIO lor the purposes which are not charitable in accordance with Section 2 of the Charitie5 Act 2011. Significant activities Thè Trustees meet regularty to select appropriats institutions to make donations to. The gimng of these donations helps to achieve the objectDies set out above. On 28th February 2024 the CIO entered into an agreement wf(h The Llana Starttn Charitable Trust (charity number 12014311 for the transfer of assets of the charti8ble trust to the CIO, including its ackn.wty as a going ncem, in accordance with the order of the Charity Commission dated 31st May 2023. Public bènefit In setting obje¢twes and planning for activities, the Ttustees have given due consideration to general guidance published by the Chanty Cornmission relating to PLfblic benefi( inclurjing the guidan 'Public benefit running a charity IPB21'. Grantmaking The Trustees may at their discretion chnrt%g. nrganisationg to sup•rt. When deciding who to support, they follow the relevant clauses wtthin the policy, including to ensure they are making donations in furtherance of the Objects. The Trustees ensure that any donations made are only for charitable purposes and recognise that not everything that benefits the public is necessarily charrtable. The Trustees usually onty award donations to Organisatn$ based in the Unrfced Kingéom that either.. - are registered as ch8ri(ies with the Charrty Commission for England and Wales (Charity Commission), the Office of the Scotbsh Charity Regulator andlor the Charity commissi for Northem Ireland.- andlor qualify as charities under the law of England and Wales, but are not required to register with the Charity Commission for England 2nd Wales The Trustees recognise that they are able to also provide donakn.ons to non-charitable organisations, provided the donations are to be used for eharitable purposes only. If thè Trustees are considering making a donats.on lo a non-charrtable organisalion, they will consuk the Chariiy Commission guidan as they recognise there are additional risks involved. The Tnjstees have uitirYTale responsibilty for all donation-making decisions and for ensuring that 211 funds awarded are used to advance the Objects. The Ttustees ensur? that they consujt the Charity Commission's guidance on that charitable purposes are they sre in any doubt about whether a proposed donation is charitable. If the Trusls are in doubl following Consulting the guidance, they take appropriate advice. If any doubl remains, they refrain from making the donion. The Trustees meet regularty to select appropriat& institutions to make rjonations to. Donations are maLle without any commitmentto tUre funding. Page 2
THE DIANA sfARTIN FOUNDATION CIO REPORT OF THE TRUSTEES forthe year ènded 31 December 2024 STRATEGIC REPORT Achievement and perfomiance Charitable aGtivities The CIO has made £120,012 12023.. £Nil} of charitab18 donations during the year and has wnllnu@d to support a we range of Gharitable Causes. Financial rpview Financial positlon Total incoming resou[S for the year amount to £10,119,970 12023.. £Nill which includes donation of lancf, donations, gift aid, investment income and voluntary income. The value of land donateol by a truee and included wlhin total incoming Esources is £9.800.000. Expendf(ure on charitsble aGtrvities was £120,012 12023.. £Nill with support costs of £32,144 {2023'. £4,505). Nel movèment in funds was a surplus of £9,967.814 12023.. £4,505 deficrf£l gwing total funds carried forward of £9,963,309 {2023.. £4,505 deficill comprising entirely of unrestricted funds. Resee$ policy The charity held unrestricted funds at the year end of £9,963,309 12023.. £4.505 deficit). These reserves are considered acjèquaté by the Trustees. In VI of the nature of the charity, the trustees are satisfied that no formal level of rerves are required, as dorbations are only made when there are available funds, and the charrty does not have any liabilities lo make donations. Of thè unrestricted nds, £9,800,000 could onEy be alised by disposing of tsngible fixed assèts or programme related investments. This means that the reserves (that is, the part of the charity's unrestricted fvnds that is freely available to spend on any of the eharrty's purposes) is £183,309. Future plans The trijstees intend to real(se the land assets held by the charty in the future. ProedS from these disposals 11 be directed towards furthering the charty's objectives, sp&cifically by increasing the level of charitable donations and grants to beneficiaries. This strategic decision aligns with the charty's Commitment to maximise impact and ensuring the resour$ are used effectively to support its objectives. Th8 trustees will ensure that any dtsposals are Conducted in accordan with relevant legal and regulatory requirernents. and that the prOedS are applied in a manner consistent with the ¢harity's governing document and charrtable purposes. STRUCTURE, GOVERNANCE AND MANAGEiVJENT Governing document The CIO is controlled by its goveming document, the Conslilution, dated 21 March 2023. Recruitment aE]d appointment of new trustees The CIO shall comprise of at least three charTty trustees appointed by a resolution passed at a propety convened meeting of the charity trustees for such a period as the charty Itustees may deterrNn6_ In selecting individuals for appointrnent 8$ charity trustees, the charity tiustees must have regard to the skills. knowledge and experience needed for the effective admini8tralion of the CIO. Isk management The trustees have a duty to idenb.fy and review the rtsks to which the ¢harity is exposed and to ensure appropriate controEs are in pla* to provide reasonable assuran against fr8ud and error. EVENTS SINCE THE END OF THE YEAR Infotrnation relating to events since the end of the year is given in the notes lo the financial statements. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of The Diana Startin Foundation CIO for the puiposes of company lawl are responsible for preparing the Report of the Trustees and the finanGial statèments in acCOrd8n with applicable law and United ngdoM Accounting Standards (United Kingdom Generalty ApIe Accounting Practi1. Page 3
THE DtANA STARTIN FOUNDATION CIO REPORT OF THE TRUSTEES for the year endèd 31 Decernber 2024 STA TEMENT OF TRUSTEES. RESPONSIBILlE5- contlnued Ctsmpany law requires the trustees to prepare finanthal statements for each financial year which give a true tsir view of the state Df affair5 of the tharitable company and of the incoming resourTrs and application of resoLJTrS. including the income and Expenditure, of Ihe charltable company for that period. In preparing those finan&al *tements, the try5tees are requTrrèd to sele¢1 surtable accounting poliaes and then apply them consistently,. observe the methods and prinThples in the Charity SORP., make judgements and esth"males that are Easonable and prudent., prepare the finanuél statements on th& going o)ncem basis unless it is inappropriate trj presume th2t the charitable company wll continue in business. The tnjstees are responsible for keeK¥ng proper acGDunting records whth disdose with re850nabte accura¢y * any time the ffnanei31 position of the ¢haTtsble cornpany army to enable trem to Qnsure that the financial statents Comply with the Companies Act 2006. They are also responsbi le for safeguarding the assets of the charitable Company and heneè tsr taknng reasonable steps for the prè¥entitsn and deledion of fraud and other itregularitie5. In 50 far 8S th2 trusttses are aware.. there is no relÈvant audit information of which Ihe charitable ¢ompanls auditOFS are unaware., and the trustee$ have taken all stèPS that they ought to have taken to make themsekves aware of any rejevant audit infmion and to establlsh that the auditors a aw3re of that infemiation. AUDITORS The aiiditor5. Meetin9. Lewis Smlth & Co, will be prDpo$ed for re-app9intmenl at the fortl)coming Annual General Report of the trustees. inc4)rporatir7 cornpany directors. on ._J..L...L".AR a Strat1¢ reporL approved by order of th@ board of tnjstees, as the ?... and signed on the board's beh81f by.. J A i Rouse- TrustÈ Pag& 4
REPORT OF THE INDEPENDEMf AUDITORS TO THE MEM8ERS OF THE DIANA STARTIN FOUNDATION CIO Opinion Vve have audited the financial statetrEnts of The Diana Slarbn Foundation CIO Ilho 'charitable company,) for the year ended 31 Deeember 2024 which Comprise the Statement of Financial Aclwities, the Balan Sheet, the Cash Flow Statement and not@s lo the financial statements. including a summary of signific2nl accounting policies. The financial reporting framework that has been applied in their pparation is applicable law and Un¢(ed Kingdom Accounting Standards (United lQ"ngdom Generally Accepted Accounting Practice). In our opinion the financTal sl3tements'. give a ttue and fair view of the 5tste of the charitable company's affairs as at 31 December 2024 and of its inGoming resources and application of resources, induding its in¢ome and expenditure, for the year then ended., have been properly prepared in accordan¢& wth United Kingdom Generally Acceptèd Accounting Practice,. and have been prepared in attordance with the requirements ofthe Companies ALt 2006. Basis for opinion We conducted our audit in accordance with Irbtsmalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilrf(ies under those standards are further described in the Auditors, responsibilitlES for the aLJdit of the financial statements section of report. We are independent of the charrtable company in accordan wlh the ethical requirements that are relevant to our audit of the financial ststemenls in the UK, induding the FRC'S Ethical StsrhLlard, and we have fulFilled our other ethical responsibilities in accord8nce with these requirerrÈnts. We believe that the audrt evidence we have obtained is sufFicienl and appropriate to provide a basis for our opinion_ Other Matter The financial statements of the charÉable company for the period ended 31st December 2023 were not audited. In that year, the Irvstees took 8cfvantage of the audit ex8mplion under Section 144 of the Charities A 2011 and Section 4T[ of the Companies ALt 2006. Concluslons relating to going concÈrn In auditing the financial stslemènts. we have concluded that the trustees. use of the going COnM basis of accounting in the preparth.on of the financial statements is appropriate. Based on the work we have perfomed. we have not identrfipd Atr)y material uncértainties rolgting to gvents or condttions that. individually or collectively. may cast SnifiCant doubt on the Charitable companls abilty lo continue as a going COnM for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibile$ and the responsibilrtEs of the trustees wlh respecl lo going concem are described in the levanl SèGtions Df this report. Other infonnatlon The trustees are responsible foT the other information. The other infomiation comprises the infowation includèd in the Annual Report, other than the financial statements and our Report of the Independent Audilcys thereon. Our opinion on the financial statements does not Cover the other information and, except to the extent otherwise explicitly ststed in our report, we do not express any fomi of assurance condusion Ihereon. In connectK)n with our aucfic of the finanGial statements, our responsibilty is to read the other infomiation and, in doing so, Consider whether the other information is materially inconsistent wth the finan¢ial statements or our knowledge obtsined in the audit or olherwtse appears to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements, we are rUired to determine whether this gives iise lo a material misslatemenl in thè finan¢ial slalements themselves. If, based on the work we have performed, we eonctude that thère is a material misstalernent of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companl¢s Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial ststements are prepared is consistent with the financial ststemenls," and the Report of the Trustees has been prepared in accordance with applicable legal r6quirements. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO ThE MEMBERS OF THE DIANA STARnN FOUNDATION CIO Matters on whleh we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the auLfil, we have not identrfied material misstatements in the Report of the Trust8es. We have nothing lo report in resp6¢t of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept or returns aclequate for our audtt have not been receiveLI from branches not visited by us,. or the financial statements are not in agreement wf(h the ac¢ounting records and retums., or certain disclosures of trustees, remuneration specified by law are not made,. or we have not reGeNed all the information and explanations we requift for oui audrf(. Responsibilities of trustees As explained more fully in the Statement of Trusteès. Responsibilities. the trusiees {who are also the directors of the Gharitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that Ihtty give a true and fair vtew, and for such internal ntrol as the tmstees determine is necessary to enable the preparats.on of financial ststemenls that are freè from material misslatemenl, whether dije to fraurj or error_ In preparing the finanGial statements, the trustees are responsibl8 for assesstng the chaiitable company's abilty lo continue as a going ¢oncern, disdosing, as applicable. matters related lo going concem and using the going concem basis of actounting unless the trustees either intend lo liquidate the Gharitable ¢ompany or to se operations, or have no realistic allemalive but to do so. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE DIANA STARTIN FOUNDATION CIO Our responsibilrties for th8 audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial stal&rnents as a whole are free from material misstatement, whether due to fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assuran is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUIQ will always deted a maleri?I misstatement wherb rt extsts. Misstatements can arise from fraucf or error and are considered material if, individually or in the agggate, they could reasonably be expected lo lnfiuen the economi¢ decisions of users taken on the basis of thes& financial ststements. The extènt to which our procedu ale capable of detecting irregularities, ineluding fraud is detailed below.. As part of an audit in accordance wrth ISAS (UK), we exercise professional judgement and maintain professional sceplicism throughout the audiL We also: Identfy and assess the risks of material misstatement of the financBI staternents, whether due to fraurl or etror, design and perform audit procedures responsive tD those risks, and obtain audit eviden that is sufficient and appropriate lo promde a basis for our opiniDn. The risk of not CIetIng a material misstatement resuV£ing from fraud is highér than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit pro¢edures that are appropriate in the cir¢umslances, but not for thè purpi)se of expressing an opinion on the effectiveness of the company's inlemal control. Evaluate the appropriateness of 8ccounting policies used and the reasonableness of accounting estimates and related disclosures ma¢Je by the trustees. Conclude on the appropriateness of the tnjstses, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signrFicant doubt on the charities ability to continue a5 a going concern. Lf we conclude that 8 material uncertainty eSts, we are raquired to draw attention in our audiloffs pOrt to thè rélated di*tr.10gLires in the financial statements or. if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit eviolence obtained up to the date of our audrtorfs report However, fvlure events or conditions may cause the charity to cease to continije a5 a going concern. Evaluate the overall presentation, structure and content of the financial ststements, including the disclosures, and whether the financial statements represent the undertying transactions and events in mannerthat achieves fair presentstion. Obtwn suffi¢ient appropriate audit evidence regarding the finaneial infomation of the entty or activities within the charity to express an opinion or) the financial stslements_ We are responsible for the direction, supervision and performanc£ of the Gharity audi(. We remain solely responsible for OUT audr( opinion. Wè communicate wtth those charged with governance regarding, among other matters. the planned scope and timing of the aufJit and significant 8udil findings, including any significant defirAencies in inlemal control that we identify during our audit. A further description of our responsibilities for the audit of the financial staternerits is located on thè Financial Reporting Council's website at wvww.frc.org.uklauditorsrèsponsibilf(ies. This description fomis part of our Report of the InoJepéndentAudfiors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE DIANA STARTIN FOUNDATION CIO Use of our report This report is made solely to the charitsble company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the chari(able company's mèmbers those matters we are required to stale lo them in an auditors, report and for no other purpose. To the fullest exienl permitted by law, we do not acpt or assume responsibility lo anyone other than the charitable company and the charitable companys members as a body. for our audr( work. for this report. or for the opinitins we have fomied. Craig Alan Beale FCCA (Senior Slalutory Audfcorl for and on beha of Lewis Smich & Co Chartered Certified Accountants The Old Doctors House 74 Grange Road Dudley Wesl Midlands OY12AW Date.. Pag6 8
THE DIANA STARTIN FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2024 Period 21.2.23 to 31.1223 Total funds Year Ended 31_12.24 Unrestrictsd fijnd INCOME AND ENDOWMEMfs FROM Donations and legacies Notes 10,117.250 Inv&stmenl income Other income 1,230 1,490 Totsl 10,119,970 EXPENDITURE ON Charitsble activrties Charitable donations {kvernan costs 120,012 31,835 4,505 Other 309 Totsl 152,156 4,505 NET INCOMEIIEXPENDITUREI 9,967,814 {4,505} RECONCILIATION OF FUNDS Total funds brought forward 14,5051 TOTAL FUNDS CARRIED FORWARD 9.963,309 {4,5051 The notes fonn part of these financial statements Page 9
THE DIANA STARTIN FOUNDATION CIO BALANCE SHE 31 December 2024 2W24 Unrestricted fund 2023 Total ftynds Notes FIXED ASSETS Tangible assets 12 9,800.000 CURRENT AssErs Debtprs Cash al bank 8.431 167.96S 176,396 CREDITORS Amwnts fralling due wthln one ye¥ 14 113,0871 14,505) NET CURRENT ASSETSIILIABIUTIESI 163,309 14,5051 TOTAL ASSETS LESS CURRENT LIA8IUTIES 9,3,309 14,5D51 NFf ASSETSI{LBIUT1E$) FUNDS Unrestricted funds 5.963.309 14.5051 16 9,9S3.309 {4,5051 TOTAL FUNDS 9,963,309 14,5051 Thè financial ststements We approvèd by the 8oard ol Trustees and authorised lor iSSLr2 on . p....n., th....1..?.S. ar#Y were signed on its behalfby.. J A l Rouse- Trustee N A Waterhou-8rown- Twstee The notes form part ofthese financial 5tstements Page10
THE DIANA STARTIN FOUNDATION CIO CASH FLOW STATEMENT for the year ended 31 Decemb¢r 2024 Period 21.2.23 to 31.12.23 Year Ended 31.12.24 Notes Cash flows from operdting a¢tivEties Cash generated from operations 167,005 Net cash provided by operating actwittes 167,QQ5 Cash flovJ5 from investing activities Interest received 960 Net cash prowded by investing acbvities 960 Change in cash and cash equivalellts in the reporting period Cash and cash equivalents at the beginning of the reporting period 1S7.965 Cash and cash equivalents at the end of the reporting poriod 167.965 The notes fomi part of these financial statements Page11
ThE DEANA STARTIN FOUNDATION CIO NOTES TO THE CASH FLOW STATEMENT forthe year ended 31 December 2024 RECONCILIATION OF NET INCOMEI{EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACMVITIES Period 21.2.23 to 31.12.23 Year Ended 31.12.24 Net in¢omellexpenditurel for the reporting period las per the Statement of Finan¢ial Artivities) Adjustments for: Interest recewed Donated land Increase in debtors Increase in Gredrtors 9,967,814 14,5051 19601 (9,800.0001 18,431 } 8,582 4,505 Net cash provided by operatlons 167,005 ANALYSIS OF CHANGES IN NET FUNDS Al 1.1.24 Cash flow At 31.12.24 Nèt cash Cash at bank 167.965 167,5 167.965 167.965 Total 167,965 167,965 MAJOR NON-CASH TRANSACTIONS During the year. the charty received a donation of land from a trustee, valued at £9.8m. This donation has been recognised in the Statement of Financial Actiwties under "Donatioris and Legacies and included in fixed assèts at fair value. As this was a non<ash transaction, rt is excluded frorn the cash flow statement in accordance with the Charities SORP IFRS 1021. The notès forni part of these financial statements Page 12
THE DIANA STARTIN FOUNDAT]ON CIO NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 STATUTORY INFORMATION The Diana Startin Foundation CIO is 8 charitable incorporated organisation registered in Eng12nd and Wales. The registered offiee address is gEven in the chanty information on page 1 of these fin8neial stslements. ACCOUNTING POLICIES Basis of preparing tho financlal ststemÈnts The financial statements of the charitable company, which is a public benefft entity under FRS 102, have bèen prepared in 3rdan wrth the Charities SORP IFRS 102) Accounting and Reporting by Charit"es'. Stslement of ReGornmended PrtI applicAble to charitiès preparing their awounts in accordance with the Financial Reporting Standard appliGable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191., Financial Reporting Standard 102 Trè Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Aet 2006. The financial ststements have been prepared under the historical cost cOnventn. Income recognition Donations Donations are recognised in the Statement of Finaneial Actwrties once the charity has enlillemenl to the funds, il is probable that the inwme will be received and the amount can be measured reliab5y. Donated land Donated land is recogni%ed in the Statement of Financial AGtivities when control and ownership has passed lo the charity, st is probable that economic benefrts 8SSOe(sted with the land wll flow to the harily and the fair value of the land can be measured reliably. Gift Aid Income from HMRC tsx reclaims are rgnised in the Statement of FInancl Activrties when the Charity has enlillemenl lo tho income, it is probable that tho InMe will be received and the amount can be measured reliably. ExpendtturÈ Liabilities are recognised as expenditure as soon as there is a legal or constnjctive Obligation committing the charity to that expenditure, il Is probable that a transfer of economic beneffts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an a(tru4ls basis ar has been classrfi&d undèr héadings that aggregate all Cost related to the cate90ry. Where wsts cannot be directly attributed to partiCLJlar headings they have been allocated to activities on a basis consistent wrth the use of resour¢es. Grants offered SUeCt to conditions which have not been mel al the year end date are noted as a commitment bul not accrued as expenditu. Tangible fixed assets Depre¢ialion ts promded at the followng annual rates in order to write off each asset over its eslimaled usefiJ11rfe. Freehold land - Not depreciated Taxation The ¢harEty is exempl from corporat.on tax on ts ¢harrtable activities. Fund accounting Unrestrtcted funds ¢an be used in accordan with the chartiable obje¢lives at the discretion of the trustees. Reslriclèd funds can onty be used for particular restrided purposes within the objects of the charity. Restrictions arise when specified by thp donor or when funds are raised for particular reslricled purwses. Page 13 eonlinued...
THE DIANA STARTIN FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2024 ACCOUNTING POLICIES - continued Fund accounting Further expknation of the nature and purpose of each fund is included in Ihe notes lo the financial statements. Grarjts payable Grants payable are recognised expendf(ure in the Statement of Financial Activf(ies when the charty has a constructive or legal obligatson to make the payment. the p8yment is probable and the amount can be nsred reliably. Grants are a¢¢ounted for on an accruals basis. Debtors Debtors are included at the settlement amount due. Prepayments are Wdlued at the amount prepaid. Cash and cash equivalents Cash and cash equivalents represents short-temi highly liquid inv&stm@nls with a short murity of three mnths oi kn from the dale of openin9 of the deposit or similar account. Creditors and provisions Cr8dY(o and promsions are recognised wherè the charity as a presènt obligation arising from a past event that will probab result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Credttors and promsions are recognised at their settlement amount. Financial instruments The Gharty onty has financial assets and liabilitie5 Ot a kind that quafrfy as basic financial instrurnents. Basic fin8neial inglrumenls are initially rgnised al transaction value and subsequently measured at th&ir settlem&nt valu&. Going coneèrn iete are no niateiial uncertainties about the dTraritys ability to ntinUe as a goiiig Goncem CTicAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In preparing these financial ststements, the trustees have made judgements and estimates that affect the reported amounts of assets, liabilites, income, and expenditure. The most signficanl areas of judgement and estimation uncertainty relate to the recognition and valuation of donated land. The charty has exercised judgement in detemiining the point at which ¢onlrol of donated land is obtsined. based on legal title transfer, donor communi¢alion. and any conditions attached to the gift. Judgement has also been applied in assessing whether any restrictions on the use or disposal of the land affec its dassrfi(2tion as restrict8d or unrestrictèd fijnds Donated land is recognised at fair value at the date of donation. Estimating fair value involves assumptions about market conditions, comparable propèrty vslues, and the impact of any restrictions on use OF sale. lJVhere professional valuations are not available, management has used alternative methods such as recent sales dats or donor-provided valuations, which may be subject to estimation uncertainty. The charty reviews thè carrying value of donated land for indicators of impairment, which inVoe$ further ests"malion based on eurrent market trends and intended use. Thè trusteès consider thèsè estimates to bè reasonable and consistent wi(h the charty's accounting Policies and applicable finarbcial reporbng standards. Page 14 contintjed...
THE DIANA STARTIN FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2024 Ew)NATIONS AND LEGACIES Period 21.2.23 to 31.12.23 Year Ended 31.12.24 Donab"ons Gift aid 10,093,800 23,450 10.117,250 INVESTMENT INCOME Period 21.2.23 to 31.12.23 Year Ended 31.12_24 Rents reiVed Deposit aceount interest 270 96D 1,230 CHARETABLE ACTIVITIES COSTS Grant funding of activrties Isee note 7} Support costs (see note 81 Totats Charitable donations GovernanGe costs 120,012 1?0,01? 31,835 31,835 120,012 31,835 151,847 GRANTS PAYABLE The charity has taken the statutory exemption under Charity law from disclosing the names of grant recipients during the lifetimè of the settlor of the trust. Grants made are G*egorised as follows". 2024 2023 Healthca and Wellbeing Pr&venlion & Relief of povety Animal Welfare Religious Aclivrties Arts & Culture Wildlrfe Res¢ue & Rehabilitation Education and Training 57,500 24.012 10,000 10,000 12,500 1.000 5,000 120,012 Page15 continued...
THE DIANA STARTIN FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS - ¢ontinued for the year endgd 31 December 2024 SUPPORT COSTS Governance costs Finance Totals Other resour5 expended Governance Costs 195 114 31,835 309 31.835 195 31.949 32,144 Support costs, included in the above. are as follows-. Finan¢t Period 21.2.23 to 31.12.23 Year Ended 31.12.24 Othgr sources expend Totsl activities Bank charges 195 Govemance costs PerioLf 21.223 to 31.12.23 Year Enrkd 31.12_24 Other resources expended Governance costs Totsl activities Total acliv((ies Auditors, remuneRtipn InsuranGe Legal fees Accountancy fees Other professional fees 5,750 5,750 114 20,425 5,160 500 114 20,425 5,160 500 3,305 1.200 114 31,835 31,949 4.505 NET INCOMEIIEXPENDITUREI Net incomellexpendrture) is stated after ch8rgingllcreditin91-. Period 21.2.23 Year Ended 31.12.24 31.12.23 Audrtors, remuneration 5,750 Page 15 continued...
THE DLANA STARTIN FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS - continued forthe year ended 31 December 2024 10. TRUSTEES. REMUNERATION AND BENEFITS During the year, Mr D S D Lodder. a trustse. reGeNed remunertion and expenses of £50012023.. £Nill for professional services prOved lo the charity. No other trustees received any rernuneration or expenses during the year12024'. £Nil>. Trustees. expenses There were no trustees. expenses paid for the year ended 31 December 2024 nor for the Feriod ended 31 Decernber 2023. 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fvnd EXPENDITURE ON Charitable activtties Govemance costs 4,505 NET INCOMEIIEXPENDITUREI {4,5051 TOTAL FUNDS CARRIED FORWARD (4,5051 12. TANGIBLE FIXED ASSETS Freehold land COST Addf(ions 9.800,000 NFf BOOK VALUE At 31 December 2024 9,800,000 At 31 December 2023 The chanty holds land assets which have been valued by a RICS Chartered SuNeyor based on freehold interest. These assets are subject to Promotion and Option agreements as they have potential for future development. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 8,431 Page 17 continued...
THE DIANA STARTIN FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS - continued for the yèar ended 31 DeGember 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trale creditors Accrued expenses 3,000 10.087 4,505 13,087 4,505 15. LEASING AGREEMENTS The charrty acts as a lessor in respe¢t of a property leasèd under operating leases. At the balance sheet date, the chartty had the following future minimum lease paYftnt receivable undèr non-cancellable operating leases.. 2024 2023 Wrthin one year Beiween on and five years In more than five years 5.185 5,1589 16. MOVEMENT IN FUNDS Net movement in funds Al 31.12.24 Al 1.1.24 Unrestrict&d funds General fund 14,5051 9,967,814 9,963,309 TOTAL FUNDS 14,505} 9,967.814 9,963,309 Net movement in fvnds, included in the above are as follows.. Incomi resources Resources expende Movement in funds Urtrestrtcted funds General fvnd 10,119,970 1152,156) 9,967,814 TOTAL FUNDS 10,119.970 1152,1561 9,967,814 Page 18 continued...
THE DIANA STARTIN FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS - continued for thè year ended 31 December 2024 MOVEMENT IN FUNDS- continued 16. Comparatives for movement in fitnds Net movement in funds At 31.12.23 Unrestrtcted funds General fund 14.505) 14,505) TOTAL FUNDS 14,505) 14.505) Comparative n81 movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrictsd funds General fvnd 14,5051 14,5051 TOTAL FUNDS {4.5051 (4,505) 17. REfATED PARTY DISCLOSURES The Charity is related lo The Diana Stsrtin Charitablg Trust Iregislèred Charity Number 1201431) by virtue o* the presence of three common trustees on the board of both charities. During the year, the charty receNed a donation of £200,000 12023." £Nil) from The Diana Startin Charitable Trust During the year, the chaty reiVed donations of £93,800 12Q23'. £Nill from Ms D R W Stsrtin, a trustee oflhe charty. During the year. the eharty receDied two parcels of land as donations from Ms D R W Stsrtin wtih valuation of £9.8m. The donation was made unconditionally with no restrictions on use or benefit to the trvslee. During the year, the charity engag Lodders Solieitors LLP, in which the trustee, Mr J A l Rouse is a partner in the fim, to provide ongoing managetnent and administration services to the Charity. The total value of servic&s provided during the year amounted to £20,425 12023.. £3,305). Included within this arnount is the promsion of legal services amunting lo £1.490 which was paid by Ms D R W Startin personalty and was not reimbursed by the charity. The incotne is recognised in the Slatem&nt of Financial Actimlies as voluntary income. At the year the was no balance owed by the CIO to Loddets Solicrtors LLP12023.' £Nill. During the yeaf, the charty engaged LDP Luckmans, in which the trustee, MT N A Waterhouse-8rown is a partner in the firm, to provide accountancy servi$ lo the charity. The total value of services provided during the year arnounted to £5.180 12023.. £1,200). Al the year end, the CIO owed LDP Luckmans £3.000 {2023.' £Nill. During the year 8 donation of £5,000 was made lo Henjey in Arden Guild Hall TrusL a charity in which hllr D S D Lodder is a Trustee. Page 19 continued...
THE DIANA STARTIN FOUNDAnON CIO NOTES TO THE FINANCIAL STATEMENTS - ntInued for the year ended 31 December 2024 18. POST BALANCE SHEET EVENTS Subsequent to the balance sheet date, land was donated to the chanty by Ms D R W Stsihn with a valuation of the freehold interest in the asset of £1.3m. Page 20
THE DIANA STARTIN FOUNDATION CIO DEfAILED STATEMENT OF FINANCIAL ACTIVITIES forthe year ended 31 De¢ember 2024 Period 21.2.23 to 31.1223 Year Ended 31.12.24 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid 10,093,800 23,450 10,117,250 Investment Incom8 Rents received Deposit account interest 270 0 1,230 Othèr income Voluntary income 1,490 Total incomlng resources 10,119,970 EXPENDITURE Charitable activities Grants to institutions 120,D12 Support costs Finance Bank charges 195 Governance costs Auditors, remuneration Insurance Legal fees Accountancy fs Other professional f&5 5,750 114 20,425 5,160 soo 3,305 1.200 31,949 4,505 Totsl re80urces expendèd 152.156 4,505 Net incomellexpenditurel 9,967,814 14,5051 This page does not fom part ofthe stslutory finanGial stateftts Page 21