CHARITY REGISTRATION NUMBER: 1205857 THE G . F SMITH & SON CHARITABLE FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 22 NOVEMBER 2023 TO 31 OCTOBER 2024
THE G . F SMITH & SON CHARITABLE FOUNDATION FINANCIAL STATEMENTS PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 PAGES Trustees. onnval report I to3 Independent examiner's report to the trustees Statement ol financial activities statement ol linanciol position Notes lo Ihe financiol 5tatemenls 7t08
THE G. F SMITH & SON CHARITABLE FOUNDATION TRUSTEES, ANNUAL REPORT PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 The trustees present their report and the unaudited financial statements of the charity lor the period ended 31 October 2024. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered charlty name The G . F Smith & Son Choritable Foundolion Chorlty reglslrotion number 1205857 Prln¢lpal office G F Smith & Son (Londonl Ltd Lockwood Street Hvll HU2 OHL THE TRUSTEES G Sheekey V Fletcher G D A Powell C Diaz B J Walkinson Independent examlner Adrian Carroll of Townends Accountants LLP Corlis1e Street Goole East Riding of Yorkshire DN145DX STRUCTURE, GOVERNANCE AND MANAGEMENT The G F Smith & Son Choritoble Foundation is a charitable incorporated organisolion registered with the Charity Commission in England and Wales under charity number 1205857. 11 was registered on 22 November 2023. The charity is managed by a committee of Trustees. who are appointed as detailed in the governonce document. The trustees have examined the major risks to which the charity is exposed. in particular those related to the operations ond finances ol the Trust, ond ore satisfied that Systems ore in ploce to mitigate Ihe exposure to these major risks.
THE G . F SMITH & SON CHARITABLE FOUNDATION TRUSTEES, ANNUAL REPORT {conHnued) PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 OBJECTIVES AND ACTIVITIES The chority's principol objective is to advonce choritable purposes, with o porticulor focus on supporting individu015 and choriloble organisations operating within the City of Kingston upon Hull and the East Riding ol Yorkshire local authority areas. This is primarily achieved through Ihe owarding ol gronts ond other forms of osslstonce that further choritable aims in the locol community. In addition. the charity Is committed to supporting young people across the United Kingdom in the design or visual arts sectors. To thig end. grants may be awarded lo provide tools of trode. equipment. moteriols. or access lo vocolionol troining. thereby helping beneficiaries take meaningful steps in the creative sector. In reviewing our oims ond objectives ond plonning future activitie5, the Iruslees have given due consideration to the Charity Commission's general guidance on public benefit. This ensures that all activities undertaken continue to provide cleor ond demonslroble benefit lo the public in line with our charitable purpose. ACHIEVEMENTS AND PERFORMANCE The chority wos registered on 22 November 2023. As this is the first reporting period. the charity is working towards their objectives and are confident to meet these in their Ivture activities. Choritoble oclivities ofliciolly commenced on l November 2024. FINANCIAL REVIEW Donotions for the period are £39,914. which is included in the unrestricted reserves bolonce on the statement of linonciol position at 31 October 2024. The trustees are confident lo use the reseNes lo help achieve the charities objectives. PLANS FOR FUTURE PERIODS Over the corning year. the trustees will continue lo locus on supporting charitable initiatives ond individuols within the City ol Kingston upon Hull ond the East Riding of Yorkshire, in line with the charity's core objeclives. We will seek lo identify and fund projects that deliver clear public benefit. particularly those addressing locol social. educotionol. and cvllural needs. The trustees also plon to further develop our support lor young people across the UK who wish lo pursue careers in graphic design or the visual orts. This will include conlinued provision of gronls lor equipment, moleriols. and vocotionol training, as well as exploring opportvnities to partner with relevant organisations, educational institutions. or training providers to maximise impact. Additionally. the Iruslees intend to review the charity's granl-making criterio and processes lo ensure they remoin occessible. transparent, ond aligned with our charitable purposes. Consideration wi11 also be given lo how we can roise the charity's profile locally lo increase aworeness of available support and encourage high-quality applicolions. Throughout the year. the trustees will continue to have regard to the Charity Commission's guidance on PLJblic benefit and lo ensure that oll octivities ond decisions contribute meoningfully to our mission and the long-term sustainobility ol the charity.
THE G. F SMITH & SON CHARITABLE FOUNDATION TRUSTEES, ANNUAL REPORT (¢0nlinvedJ PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 FUNDS HELD AS CUSTODIAN TRUSTEE STATEMENT OF TRUSTEES, RESPONSIBILITIES The Truslees are respon5ib5e for preparing the Trustees Annual Report ond the financial slalemenls in accordance with applicable law and regulations and United Kingdom Accounling Slondords (United Kingdom Generally Accepled Accounling Procticel. The law applicable to charities in Englond ond Wales requires the Trustees to prepare finonciol statements for eoch linoncial yeor which give a true ond lair view of the slate ol affairs of the charity and ol the incoming resources and application of resources ol the charity lor thot period. In preparing these financial statements. the Trustees are required lo.. ' select suitable accounting policies and then opply them consistently.. observe the methods and principles in the Charities SORP., ' make judgements and occounting eslimate5 that are reasonable and prudent.. prepare the finonciol statements on the going concern bosis unless il is inoppropriate lo presume Ihot the charity will continue in operation. The Trustees ore responsible for keeping proper occounting records thot disclose with reasonable occvrocy ot ony time the linoncial position ol the charity and enoble them to ensure thal the financial statements comply with the Chorities Act 2011, the Charity (Accounts and Reports) Regulations 2m8 and the provisions ol the trust deed. They are olso responsible for soleguording the osse15 of the chority and hence for loking reosonoble sleps for the prevention ond detection of fraud and olher irregularities. The trustees, onnval report wos opproved on board of trustee5 by.. L* J. ?l..i.ts.8.) and signed on beholf of the G Sheekey Trustee
THE G . F SMITH & SON CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE G . F SMITH & SON CHARITABLE FOUNDATION PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 I report lo the trustees on my examinolion ol the linoncial statements of The G . F Smith & Son Charitoble Foundotion I'the charity I for the period ended 31 October 2024. RESPONSIBILITIES AND BASIS OF REPORT As the Iruslees of Ihe charily you are responsible for the preparation of the financial statements in accordance with the requirements ol the Charities Act 2011 I'the Act'l. I report in respect of my examination of the charity s financial Statements carried out under section 145 01 the 2011 Act and in carrying out my examination I have followed all the opplicable Directions given by the Chtsrity Commission under section 145151 Ibl of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm thot no molerial motters hove come to my allenlion in connection with the examination giving me cause to believe thal in any moterial respect.. accounting records were not kept in respect of the charity a5 required by section 130 01 the Act.. or the financial statements do not accord with those records., or the financial slotements do nol comply with the opplicoble requirements concerning the form and content of accounts set out in the Charities IAccovnts and Reports) Regulolions 28 other than any requirement that the accounls give a 'true and loir, view which is nol o motter considered as port of an independent exominalion. I hove no concerns and hove come ocross no other motters in connection with the exominalion to which attention should be drawn ir) this report in order to enoble o proper understan f the occounts lo be reached. Corroll of Townends Accountonts LLP Independent Examiner Corlisle Street Goole East Riding of Yorkshire DN145DX
THE G. F SMITH & SON CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 Period from 22 Nov 23 10 31 Oct 24 Unrestricted funds Total funds Nole Income and endowmenls Donolions and legacies Total Income 39,914 39.914 39,914 39.914 Nel Income and net movement In funds 39.914 39,914 Reconclllatlon of Ivnds Totol funds brought loward Total fvnds ¢orrled forward 39,914 39,914 The statement of financial activities includes all gains ond losses recognised in the yeor. l income ond expenditure derive from continuing octivilies. The notes on pages 7 10 8 form port of these Ilnanclal stalements.
THE G . F SMITH & SON CHARITABLE FOUNDATION STATEMENT OF FINANCIAL POSITION 31 OCTOBER 2024 310¢124 Note CURRENT ASSETS Cash al bank and in hand 39,914 NET CURRENT ASSETS 39,914 TOTAL ASSETS LESS CURRENT LIABILITIES 39.914 FUNDS OF THE CHARITY Unrestricted funds 39,914 Total charlty lunds 39.914 These financial stalements were approved by the board of trustees and oulhorised lor issue on ...L..¥..1.7..1.1.)... and are signed on behalf of the board by.. G Sheekey Trustee The notes on pages 7 to 8 lorm part ol these flnanclal statements.
THE G . F SMITH & SON CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 GENERAL INFORMATION The charity is a public benefit entity and a charitable incorporated organisotion registered with the Charity Commission in England and Wales. The address ol the principle office is G F Smith & Son ILondonl Ltd, Lockwood Street, Hull, HU2 OHL. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard opplicable in the UK and the Republic of Ireland., the stotement ol Recommended Proctice opplicab1e to choTities preporing Iheir occounts in accordance with the Financial Reporting Standard applicoble in the UK and Republic ol Ireland IFRS 1021 Icharities SORP IFRS 1021 l and the Charities Act 2011 ACCOUNTING POLICIES (a} Basls of preparollon The financial statements hove been prepared on the hislorical cost bosi5, os modified by the revoluolion ol certain linoncial assets measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the funclionol currency ol the entity. The charity registered on 22 November 2023. As a result the finoncial statements hove been prepared lor the period 22 November 2023 10 31 October 2024. There is no comporotive to report. (b) Golng concern The Trustees hove prepored these finonciol stotements on o going concern basis. There are no material uncertainties about the charity's ability to continue. (c) Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the chority s purposes. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of on oppeol. (d) Incomlng re$our¢es All income is included in the slotement of financial activities when entitlement has passed to the charity. it is probable that the economic benefits associated with the tronsoction will flow to the chority ond the amount con be reliably meosvred. The following specific policies are applied lo particular categories of income. income from donations or gronls is recognised when there is evidence of entillemenl to the gift. receipt is probable and ils amount can be measured reliably.
THE G . F SMITH & SON CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (conllnuedj PERIOD FROM 22 NOVEMBER 2023 TO 31 OCTOBER 2024 ACCOUNTING POLICIES l¢onlinued) (e} Resovrces expended Expenditure is recognised on an occruols basis os o liobility is incurred. Expenditure includes any V AT which cannot be fully recovered, ond is classified under headings ol the stotemenl ol financial activities. Liabilities are recognised os expenditure as soon as there is a legol or constrvctive obligotion committing the charity to that expenditure. it is probable that selllemenl will be required and the omount ol obligation con be measured reliably. DONATIONS AND LEGACIES Unreslricled Total Funds Funds 2024 DONATIONS Donations 39.914 39.914 INDEPENDENT EXAMINATION FEES The independent examination fee is borne by a related entity. TRUSTEE REMUNERATION AND EXPENSES No remuneration. expenses or other benefits from employment with the chority or o reloted entity were received by the trustees. ANALYSIS OF CHARITABLE FUNDS Unrestrlcted funds At 22 Novembe r 2023 At 31 October 2 024 Income General fvnds 39.914 39,914 ANALYSIS OF NEf ASSETS BETWEEN FUNDS Unrestricted Tolal Funds Funds 2024 Current assets 39,914 39,914