THE DERVIA FOUNDATION (CIO)
Financial Statements
Period Ended 5 April 2025 Charity No.: 1207469
The Dervia Foundation (CIO)
Report and Financial Statements for the period ended 5 April 2025
Contents
Page: 1 Reference and administrative information 2-4 Report of the Trustees 5-6 Independent Auditor's Report 7 Statement of Financial Activities 8 Balance Sheet 9 Statement of Cash Flow 10-12 Notes forming part of the Financial Statements
Trustees
Tina Rebecca George Lorna Elizabeth Fairbairn David George Hadden Paul Ernest Henry Davis Gwendoline Anne Godfrey
Independent Auditor
Perrys Audit Limited, Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR
Accountants
BDO LLP, 55 Baker Street, London, W1U 7EU
Solicitors
DMH Stallard LLP, The Portland Building, 27-28 Church St, Brighton and Hove, Brighton, BN1 1RB
1
The Dervia Foundation (CIO)
Report of the Trustees for the period ended 5 April 2025
The Trustees present their report along with the financial statements of the charity for the period ended 5 April 2025. The Financial Statements have been prepared in accordance with the accounting policies set out on page 10 and comply with the charity’s trust deed and applicable law.
Structure, Governance and Management
The Foundation is a Charitable Incorporated Organisation (CIO) governed by its Constitution. The Foundation was registered by the Charity Commission of England and Wales on 15 March 2024. It is a registered charity no. 1207469.
The First Charity Trustees appointed on 15 March 2024 were:
-
Lorna Fairbairn
-
Tina George
The following additional Trustees were appointed on 28 March 2024:
-
Paul Davis
-
Gwendoline Godfrey
-
David Hadden
Where there is a requirement for new Trustees, this would be identified by the remaining Trustees. There must be at least two and no more than five.
Risk management
The Trustees are mindful of the major risks that the charity faces and confirm that they will take appropriate action where necessary to ensure these risks are monitored and steps are taken to lessen these risks where required.
Objectives and Activities
The objects of the charity are to apply the income, and at the Trustees' discretion all or any parts of the capital, in furtherance of such one or more of the following charitable purposes for the benefit of the public as the trustees may in their discretion think fit:
-
(a) To promote and protect the physical and mental health of children and young people, their families and carers;
-
(b) To promote any other charitable purpose, or to assist any other charity established for other charitable purposes, associated with the advancement of health, the relief of sickness and the saving of lives, according to the laws of England and Wales; and
-
(c) To promote or assist in furthering the above purposes through the provision of financial assistance, support, education, advice and funding of research (of which the useful results are to be published) by means of grants and/or the provision of facilities, equipment and services ancillary or not ancillary to those provided by doctors, hospitals, hospices or any other medical facility.
Grant making policy
All applications received are first reviewed by a nominated Trustee to assess whether the charity making the application fits within the objects of the Dervia Foundation. If the charity is within scope, then the application is reviewed by the Trustees. The Trustees decision making is discretionary and made in line with the grant making policy. These applications are considered by the Trustees on their own merit for suitability of funding.
2
The Dervia Foundation (CIO)
Report of the Trustees for the year ended 5 April 2025 (continued)
Public benefit
In meeting the objectives the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and judge that all donations made meet this guidance. All donations are listed in note 4 on page 11.
Achievements and Performance
The Foundation is funded from the residue of a deceased persons estate, originally a trust structure under the terms of the Will, the Trustees restructured to a CIO. The charitable trust made grants of £4,253,350 and The Foundation is a continuation of that work. The Trustees have started to apply their funds in accordance with the objects of the Charity and their grant making policy. Donations totalling £1,304,097 have been made in the year and are detailed in note 4 of these Financial Statements.
Amongst the total grants paid this year were the following grants of £75,000 or more:
Kennedy Street Foundation £100,000 to support the Kennedy Street Brighton addiction recovery workshops, along with a further £3,750 towards their Big Give Christmas Challenge.
My University Hospitals Sussex £98,347 being £38,371 towards the purchase of a Birthing Pool for use at Royal Sussex Hospital, Brighton and £59,976 for the purchase of an Volumetric Infusion Pump for the Royal Alexandria Children's Hospital, Brighton.
Southern Hospice Group £1,000,000 which contributed towards the funding of Chestnut Tree House children’s hospice, Arundel.
Reserves policy
The Trustees have agreed to aim to distribute up to 50% of the income of the charity. The Trustee’s aim to sustain the level of grant making they have made this year going forward. The trustees have agreed in some circumstances to award grants over a number of years to particular charities to fund particular project/s or to support their costs. The Trustees have the power to use capital at their discretion to support the charitable objectives should the income reserves, at any time, be insufficient.
Plans for the future
The focus of the Trustees of the Charity is to ensure that they continue to build relationships with charities within the Brighton and Sussex area whom they may be able to support in line with their charitable objects and being mindful of the public benefit impact of their donations. Further to continue to maintain the relationships that have been established with charities that the Charity has supported in the last year.
The Trustees are taking advice to ensure the cash amount available for distribution to charities can be sustained and, where possible, increased year on year.
Trustees’ responsibilities in relation to the financial statements
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
3
The Dervia Foundation (CIO)
Report of the Trustees for the year ended 5 April 2025 (continued)
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
Tina Rebecca George Trustee
Lorna Elizabeth Fairbairn Trustee
Date: 5 February 2026
4
Independent Auditor’s Report to the Trustees of the
The Dervia Foundation (CIO)
Opinion
We have audited the financial statements of The Dervia Foundation (CIO) for the period ended 5 April 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards.
In our opinion the financial statements:
give a true and fair view of the state of the Charity’s affairs as at 5 April 2025 and of its income and expenditure for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to 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 with the accounting records; or
-
we have not received all the information and explanations we require for our audit.
5
Independent Auditor’s Report to the Trustees of the
The Dervia Foundation (CIO)
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory framework applicable to the charity. The charity is complying with the legal and regulatory framework by engaging professional advisers.
The laws and regulations we have identified as being of significance in the context of the chatiry are the Charities Act 2011. Our assessment of the susceptibility of the charity’s financial statements to material misstatement is that the susceptibility is low.
The engagement partner considers that the engagement team collectively have the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations due to their experience and training. No matters of non-compliance with laws and regulations or fraud were communicated to the engagement team.
A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk / auditors / audit-assurance / auditors responsibilities for the audit / description of the auditors responsibilities for the audit of the financial statements.
Stephen Hale FCA FCCA
Senior Statutory Auditor
For and on behalf of Perrys Audit Limited, Statutory auditor
Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR
Date: 5 February 2026
6
The Dervia Foundation (CIO)
Statement of Financial Activities for the period ended 5 April 2025
----- Start of picture text -----
Period Ended
Notes 5 April 2025
£
Income and endowments from
Donations and legacies 2 4,457,670
Total 4,457,670
Expenditure on
Charitable activities
Activities undertaken 4 1,304,097
Support costs 5 82,092
Total 1,386,189
Net movement in funds 3,071,481
Total funds at 5 April 2025 3,071,481
----- End of picture text -----
All funds are unrestricted.
The notes on pages 10 to 12 form part of these financial statements
7
The Dervia Foundation (CIO)
Balance Sheet as at 5 April 2025
----- Start of picture text -----
Notes 5 April 2025
£ £
Current Assets
Cash at bank and in hand 6 -
Debtors 7 3,199,657
3,199,657
Liabilities
Creditors:amounts falling due within one year 8 (128,176)
Total net assets 3,071,481
Funds
Unrestricted Funds 3,071,481
The notes on pages 10 to 12 form part of these financial statements
Approved by the Trustees and signed on their behalf by:
----- End of picture text -----
Tina Rebecca George Lorna Elizabeth Fairbairn Trustee Trustee Date: 5 February 2026 Date: 5 February 2026
8
The Dervia Foundation (CIO)
Statement of Cash Flow for the period ended 5 April 2025
----- Start of picture text -----
Period Ended
Notes 5 April 2025
£
Net cash used in operating activities 9 -
-
Net cash provided by investing activities
-
Change in cash in the year
Cash carried forward -
Represented by:
DMH Stallard LLP Client Account -
----- End of picture text -----
The notes on pages 10 to 12 form part of these financial statements
9
The Dervia Foundation (CIO)
Notes to the financial statements for the period ended 5 April 2025
1 Principal Accounting Policies
(a) Accounting Convention
The financial statements are prepared under the historical cost convention and in preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) and comply with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011.
(b) Donations, legacies and similar income
Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured with sufficient reliability.
(c)[Resources expended]
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis.
(d)[Charitable activities]
Costs of charitable activities include grants made and an apportionment of overhead and support costs where
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
(e)[Governance costs]
Governance costs comprise costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.
(f)[Taxation]
The charity is exempt from tax on its charitable activities
(g)[Going concern]
The Trust has substantial net assets and the Trustees therefore have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees have adopted the going concern basis in preparing the financial statements.
----- Start of picture text -----
||||
|---|---|---|
|Period Ended|
|2|Donations|5 April 2025|
|£|
|Income from the Estate of Mrs S M Davis|4,457,670|
----- End of picture text -----
10
The Dervia Foundation (CIO)
Notes to the financial statements for the period ended 5 April 2025
3 Charitable Activities
| Charitable Activities | |||
|---|---|---|---|
| Activities Undertaken Directly (see note 4) |
Support Costs (see note 5) |
Period Ended 5 April 2025 |
|
| £ | £ | £ | |
| General Charitable Activities | 1,304,097 | 82,092 | 1,386,189 |
| Grants paid or payable Chailey Heritage 1075837 Children With Cancer Fund 1110644 Kennedy St Foundation 1189265 My University Hospitals Sussex 1050864 Pelican Parcels 1179866 Southern Hospice Group 930107 Whoopsadaisy 1083024 Registered Charity No. |
Period Ended 5 April 2025 £ 50,000 50,000 103,750 98,347 1,000 1,000,000 1,000 1,304,097 |
|---|---|
4 Grants paid or payable
| Support Costs Accountancy fees Audit fees Legal fees Advertisement expenses Cash at bank and in hand DMH Stallard LLP Client Account |
Period Ended 5 April 2025 £ 13,843 4,746 59,253 4,250 82,092 5 April 2025 £ - |
|---|---|
5 Support Costs
6 Cash at bank and in hand
11
The Dervia Foundation (CIO)
Notes to the financial statements for the period ended 5 April 2025
| 7 Debtors Income due from the Estate of Mrs S M Davis Tax Recoverable from HMRC 8 Creditors: Amounts falling due within one year Donations payable Accountancy fees Audit fees Legal fees 9 Reconciliation of net movements in funds to net cash flow from operating activities Net income/(expenditure) for the period Decrease/(increase) in assets Increase/(decrease) in creditors |
5 April 2025 £ 2,341,483 858,174 3,199,657 5 April 2025 £ 100,000 13,843 4,746 9,587 128,176 £ 3,071,481 (3,199,657) 128,176 - Period Ended 5 April 2025 |
|---|---|
10 Related parties
Lorna Fairbairn and Tina George are partners at DMH Stallard LLP, and Gwendoline Anne Godfrey is a former partner of DMH Stallard LLP. This firm provided legal and general management services during the period ended 5 April 2025. Invoices were raised for £9,587 during the period.
11 Trustees' remuneration and benefits
None of the Trustees have been paid any remuneration or received any other benefits from the Charity.
12 Trustees' expenses
No trustees' expenses were incurred in the period ended 5 April 2025.
12