**Company registration number CE032480 (England and Wales) Charity registration number 1203345 (England and Wales)**
## **GEORGE DEVINE MEMORIAL AWARD**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **GEORGE DEVINE MEMORIAL AWARD**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Christopher Hampton Matthew Byam Shaw Imogen West James Midgley Anthony Burton **Charity number** 1203345 **Company number** CE032480 **Registered office** c/o Two Matts LLP 151 Wardour Street London W1F 8WE **Independent examiner** Two Matts LLP 151 Wardour Street London W1F 8WE
## **GEORGE DEVINE MEMORIAL AWARD**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 11|
## **GEORGE DEVINE MEMORIAL AWARD**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
The trustees present their annual report and financial statements for the period ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in the financial statements and comply with the Charities Act 2011 and "Accounting and Reporting by Charities: 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)" effective 1 January 2019.
## **Objectives and activities**
## **Policies and objectives**
These are the first accounts of the Charitable Incorporated Organisation which took over from The Charitable Trust of a similar name, in the summer of 2024 and presented the 2024 award (see note 14). The CIO has followed the original objectives set up in the earlier charitable trust in 1969 and are in memory of, and as a tribute to the life and work of, the late George Devine for "promotion of education in the arts of writing, directing and designing plays and other theatrical arts".
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Financial review**
## **Reserves policy**
The trustees may manage the assets of the fund at their absolute discretion. The fund has no restricted funds and the policy remains to maintain adequate financial resources to provide income to meet the current and future commitments of awarding this prize, and ensure adequate funds remain available to make awards for the foreseeable future.
## **Structure, governance and management**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Christopher Hampton Matthew Byam Shaw Imogen West James Midgley Anthony Burton
## **Recruitment and appointment of new trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
- 1 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **Risk management**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
The Trustees have assessed the overall situation of the Fund and location of its major assets with Government stock and COIF consider risks facing the Fund to be minimal and appropriate systems to recognise and mitigate any such risks are in place.
There are new investment managers who have invested in a portfolio of equities and fixed interest stocks with the object of producing a combination of income and capital gain to meet the costs of awarding the prize money and related costs.
The trustees' report was approved by the Board of Trustees.
.............................. James Midgley **Trustee**
Date: .............................................
- 2 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF GEORGE DEVINE MEMORIAL AWARD**
I report to the trustees on my examination of the financial statements of George Devine Memorial Award (the charity) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Date: ............................
- 3 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|**Income from:**||||
|Other trading activities|**2**|20,000|-|
|Investments|**3**|5,956|-|
|**Total income**||25,956|-|
|**Expenditure on:**||||
|Raising funds|**4**|5,482|-|
|Charitable expenditure|**5**|31,639|-|
|**Total charitable expenditure**||37,121|-|
|||||
|**Total expenditure**||37,121|-|
|Net gains/(losses) on investments|**9**|(26,412)|-|
|**Net income/(expenditure)**||(37,577)|-|
|Transfer from predecessor charity||496,563|-|
|**Net movement in funds**||458,986|-|
|**Reconciliation of funds:**||||
|Fund balances at 1 April 2024||-|-|
|**Fund balances at 31 March 2025**||458,986|-|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2025**_
|**Notes**
**Fixed assets**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**14**|**2025**
**£**
10,000
129,054
139,054
(1,500)|**£**
321,432
137,554
458,986
458,986
458,986|**2024**
**£**
-
-
-
-|**£**
-
-|
|---|---|---|---|---|
|||||-
-|
|||||-|
The financial statements were approved by the trustees on .........................
.............................. James Midgley
## **Trustee**
Company registration number CE032480 (England and Wales)
- 5 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **Charity information**
George Devine Memorial Award is a charitable incorporated organisation incorporated in England and Wales. The registered office is c/o Two Matts LLP, 151 Wardour Street, London, W1F 8WE.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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)" effective 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
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.
## **1.4 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **Interest Received**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normal upon notification of the interest paid or payable by the Bank.
- 6 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such as grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.6 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably, in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the Statement of financial activities.
## **1.7 Cash and cash equivalents**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.8 Financial instruments**
The charity only has 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 amortised cost using the effective interest method.
## _**Basic financial assets**_
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
- 7 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Liabilities are recognised when there is an obligations at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **1.9 Taxation**
The charity is exempt from tax on its charitable activities.
## **2 Income from other trading activities**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Sponsorships|20,000|-|
|**3**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Interest receivable|5,956|-|
|**4**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Trading costs**|||
||Investment management|1,606|-|
||||-|
||Support costs|3,876|-|
||**Total costs**|5,482|-|
||**Analysis by fund**|||
||Unrestricted funds|5,482|-|
- 8 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **5 Support costs**
||**Support**|**Support**|
|---|---|---|
||**Costs**|**Costs**|
||**£**|**£**|
|Accountancy|1,500|-|
|Legal expenses|221|**-**|
|General costs|1915|**-**|
|Advertising|240|**-**|
||3,876|**-**|
## Support costs are those that assist the work of the charity but do not directly represent charitable activities. **6 Charitable expenditure**
|**Charitable expenditure**|||
|---|---|---|
||**Charitable**|
**Charitable**|
||**expenditure**|**expenditure**|
||**2025**|**2024**|
||**£**|**£**|
|Grants to institutions|5,000|-|
|Winners prize money|15,000|-|
|Cost of the competition|11,639|-|
||31,639|-|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **8 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 9 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **9 Gains and losses on investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|(25,634)|-|
|Sale of investments|(778)|-|
||(26,412)|-|
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Fixed asset investments**
|**Cost or valuation**
At 1 April 2024
Additions
Valuation changes
Disposals
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024
**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**13**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Listed**
**investments**
**£**
-
349,841
(26,412)
(1,997)
321,432
321,432
-
**2025**
**£**
**£**
10,000
-
**2025**
**2024**
**£**
**£**
1,500
-|**Listed**
**investments**
**£**
-
349,841
(26,412)
(1,997)
321,432
321,432
-
**2025**
**£**
**£**
10,000
-
**2025**
**2024**
**£**
**£**
1,500
-|
|---|---|---|
|||321,432|
|||321,432|
|||-|
|||**£**
-|
|||**2024**
**£**
-|
- 10 -
## **GEORGE DEVINE MEMORIAL AWARD**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_
## **14 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**1 April**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**At 31 March**|
|---|---|---|---|---|---|---|---|
|||**2024**|**resources**|**expended**||**losses**|**2025**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|General funds||-|25,956|(37,121)|496,563|(26,412)|458,986|
|**Previous**|**At**|**1 April**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**At 31 March**|
|**Period:**||**2023**|**resources**|**expended**||**losses**|**2024**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|||-|-|-|-|-|-|
## **15 Structure**
The trustees decided to continue the activities of the charity, George Devine Memorial Fund, as an incorporated organisation to provide a manageable and flexible entity. Hence the formation of the George Devine Memorial Award. In June 2024, this charity took over the assets and liabilities. Funds amounting to £496,563 were transferred into this entity.
## **16 Related party transactions**
There were no disclosable related party transactions during the year ( - none).
- 11 -