Trustees, Report and Financial Statements 2023
Table of CONTENTS Page Reference and Administrativ¢ D¢tails Trnstees. Report Stst¢m¢nt of Financial Adivilies 10 Balance Sheel Cash Flow Statement 12 Note5 to Finttrtcial Statements Independent Auditots, R¢port 22-23
Ro ferenee nd Admi Elected Man4eme•t Body (volun¢ary) Choirnian- Giles Cow OBE. Yice Clwirnon- Fthil Dale • Treorw- lan Freeman The E¥eeutive Committee." Kay Cannan. Pat Chu1 Gik5 Cry OBE. Daniel tkm, Phil Dale. lan FreaTh Paul Ganjou, Cheryl Garland, Fawn Jatne4 Marttn lone& John Logan. Vicki Mi¢h¢lle MBE. Spencer Phillip4 Babs Powell. Rob¢rt Powell. Keith Simmons. Tnlee5 {elecled).' Gilu Cocyer OBE {ChairnianX Laurie Mansfiel4 Phtl Dale. lan Freernan Homornry MemberJ (bestowed) H(. Life-Presidenl - Laurie Mansfiel¢L HOPL Yice-Presidents.. Rog# tk C(w. Robert FArl Jnr. Sttwl Littlewoo Joe Pasquale, Nick Thom MBE, Bradley Walsh Life Governors (honorary).. Imd Mithael GrJe CBE Hon. Chaploin". Rev. Simon GriBg Re£15tered addres&. Brinsworth Hou& 72 Stsines RO Twithnham TW2 SAL Independent audltors: Haysmacintyr¢ LLP. 10 Queen Stred Plx lA)nd{ EC4R IAG Soll¢hors: Clintons. 2 St Giles Square. London WC2H 8AP Bankers: Coutts & Co. 440 Strand. Ldon WC2R IK)S Arbuthnoi IAtham & Co.. Limite41 Artrtrthnot 7 Wils(ffi Strrt London EC2M 2SN R¢gi8t¢red custodians: Evelyn Partn¢TS T¢ CLYwation Limiie¢i 25 M(x)rgate. L4Mdon EC2R 6AY Investment mngers: Ev¢lyn PartneTS Investment Management LLP. 25 MoorgaK London EC2R 6AY SchToder& Co Limite¢ 12 Moi)Tgat4 EC2R 6DA Registered eharlty Dumber. 206451
ees, Re The TTU5tees pr¢s¢rti their Annual Rew¢ in compliance with the Charities Act 2011 and the Charities SORP (FRS102). tog¢th¢r with the audited financial ststrments for the yew v)ded 31° Decernber 2023. Rtfere#ee and AdmiDi$tr¢ive lthformtx)n The Royal Variety Charity ('fharityJ is a charity regisiered in England & WalE5, with registration number 206451. Its Registered Office. logether with the Charity'5 ¢lected Ol¢erS and ¢lKted TrUeeS (elecied from the Members of the Charity's Executive Commiltee), kng¢th¢r with the Charity's external Jvisus and banker4 are psented on page 2. struttu GovernJK¢ Management The Charity is governed by its Rule B(M)k and Con5ti¢ution. first dated 1908 and l&st amended on 29 January 2016. The Execuitve Committee elects from its Member& once every five years, three unpaid OtTicers: a ChaiTman. a Vice- Chaimian and a Tre&wrer, w manage and oversce all aspects of the Charity's operntion and work. They have a responsibiliry to act with due care and consideration and are required io Fyovide regular rep(wts and ur4laÉes to both the Charity'5 governing Execuiive Commill¢¢ and also to their ele¢ted board of Tnjstees. The Ex¢¢utive Committee a150 el¢¢ts from its Member& once ¢v¢ry five years. a body of up to seven Trustee5 to be responsible for the Charity'5 financial inv¢stments. long-term strdtw and long-temi dirKtiI)n and goal The Executive Committee. whilst delegating managerial responsibilitie5 to its elecd 01Te[S and Cled Tnte4 conc¢nlrnt¢s its own effort5 on deriding on admissions to the Charity's care home (Brinsworth House). maintenance and irnprovements to the c8r¢ home, the consideration and implementation of from lis elected TThst¢¢g )nd the awarding of one-off and regular grants to the Charity's many dendants around the UK. Each of the Chwity's elected oificers and elected Trustees has experience of, an understanding of. speeifTC aspects of th¢ Charity's work and of srkcific areas within the entertainment tndustry. This ¢ff¢ctive goveming parthership berween the fijll Executiv¢ Committee and it's el¢cted Olficers and elected Tte¢s, together with the Ctharity'$ employed professional& ¢ontributes significantly ¢0 the Charity's respect. standing and success. The elected Tnte¢S meet to Irview the fmwcial stsnding of the Charity (in¢luding the investment p¢rfomiance of the Charity's reserves) and to consider options for its long-temi stsbility and success. Try also agree and implement annual operalTrDg firtamcial budget, which is adhered to across all depattsnenrs of both th¢ Charity ald ihe care hom¢. They are also r¢sponsible for solVing any legal matters, ¢mployment dispuie& or any extra-ordinary issue5 that m#y affe¢t the Charity from time-to-time. They also hav¢ delegad authority from the Executive Committee. for the appoinknent of the Charity's senior employed stsff, such as the Charity's finance director and lh¢ matron of the care home. They also revi¢w key management remun¢rion each year. In 2023, the TsS met regularly in p¢rson. by Zoom and telephone. The ExKutiv¢ Committee usually m¢as * leasi six times per year reviews all matters of imwnance relating to th¢ day40-day rurtning of the Charity. li reviews reFrf)rf5 from its elected Tn]5te4 including up-to-date monthty managment accounts presented by the TrewTer. They atwve or award all sociai grants. &)nations and gifts mad¢ by the Charity and Tatify any ¢wnditure included the annual financi budget. The Executive Committee appoint& from its Memlxrs. certain SUrnM1eeS which. in its opinion, are deemed necessary for it5 more efficient operation. Subacommillees hav¢ no executive or fornial Fwers but ttct to enSts that the responsibilili¢s and duties of th¢ full Executive CommittK #re being carried out as thoToughly and as efficiently ls Possible, allowing for the maximum due consider1. w¢ and atteniion to all matt¢is. li is the duty of the thairman of cach sub-committee to present its findin8s and reujmmendations io the Charity's Chairnlan and to th¢ fvll Executive Committee for discussion, review. voting, action and fdiification. During 2023. the GTants SulTrCornTr]ittee met umerous limes to review n¢w, existing and On-going grnit applicions. Th¢ recommendations of each Grants Su Committee meeting were ratified by the Executive Commilltt lollowing ea¢h mltiE. AdThini$trati Our unpaid. elected Chaimian. Giles Coy. 1]nUed this year with a hands-on approxh to the rnanagement of the Charity and presenied the Trustees and Executive commit with regular OPEXKtimities to observe and influence the day- to-day operation. The value of dona¢ed (unpaid) services afforded to the Charity over the period by the Chairnian. Giles C¢yJper, is estimated to be £105.(KJ) (2022: £IIXI.000). Th¢ Charity would like to place on record its thanks to Giles Cooper for all his time and effort in this reSct and also foT his w(R* LM) the Clwity'5 main fifftdraising event. the Royal Vars¢ty P¢rfornwice.
Ro riti eontinued A¢¢ountlng aTrd Reportln# RespoDslbilltle8 The elected Truste¢s are responsible, on behalf of the Executive CommittK for preparing th¢ Trustees, Report and Financial Statem¢nts in a¢cordance with applicabl¢ law and United Kingdom Accouniing Standard5 (Unttrd Kingd Generally A¢¢eo¢d A¢¢ountin8 Practice). The law applicable to choTi¢ie5 in England and Wales wi5 the Tnte¢S to Fyepare fmancial swements for each financial year which give a tn and fair view of the stsie of affairs of the Chariry and of the incoming re50urce5 and application of r¢sourr¢s of the Charity for that wiod. In preFwi5 these firsancial statemenE4 the TTUStees are required to.. Seleth suitoble a¢counting lICIeS and th¢n alY them consistently. Observe aT]d wmpty with the meth(xt% guid¢line5 and principles outliAed iti th¢ Clwity Commission's 'Ststern¢nt of Recommended Praaice. (SORP)" To make judgements and estimate wh is reasonable and whcth¢r applicable acc4wnting standards and 51atements of Tecommended prauirx have been ftilk)rf subject to any material departUTes disclosed and explained within the financial ststern¢n To prepare the financial stst¢ments on a going concttn blsis unl¢ss 1¢ is inappropriats to presume that the Charity will continue in operation" To employ a r]rt director with delegated rwsibility for keeping proper accounting re¢ords and who is able io dis¢lose with all reasonable accuracy at any time the financial rx)sition of the Charity and to enable them to ensure that th¢ finpnrial 5ts1ements comply with the Clwlties Act 2011 and the Chariiies SORP (FRS102). the Charity (Acctsunts and Reports) liegulations ther¢ under and the provisions within the Charity's Rule5 and Constitution- The responsibtlity for safeguarding the L8ets of the ChaTity an¢1 henc4 for taking reasonable steps to ensure the preveniion and d¢t¢¢tion of fraud and other itregulkritie5" The responsibility for maintaining honesty, integrity and g(Mxl wactice within the Charity. and to ¢nsure that all fman¢ial infornil( presented internalty aThJ publicly Presents a ITue and honem fleCtiOn of its situation. Internal Controls Tr•N$preTrcy and Dirycktsur Internal controls over all forn of upenditure continue to I r¢fm¢d io improve efficiency. with financial processes and safeguards in place to ensu that F%rformance is monitored ¢liJ5¢1y. The CharÉty's employed finan¢¢ dir¢¢tor is r¢5pon5ibk for providing a monthly r¢ix)rt (wnthining all matters of imporfance) together wilh monthly magement a¢counts for review by the eleded Chairman. electrd T$Ter and InOrary Life-President. The TTeLsuttr. in.tum. pr¢sents a summary of this re io the Ex¢¢utive Committee * each of their m¢¢lings. In¢¢rnal wntrols include: a detril¢d amiu&l financial bjdget approved by th¢ TTU regular consideration by the Truslee5 Of the ongoing financial r¢5uIts, including. variances from budg¢ts and brnchmthing reviews: the deleg&iion of day-to-day management authority: and th¢ id¢Mification of, and managemtht of. risk& Whilst the e1c¢d Trnst¢¢s are resPsIble for strw and the tong-m well-being of the Charity. it is the governing Executive Committee that is at the heart of the d4y-lfrday opu*ion. It's membets meet 81 least Six times per year to approve and rdtify expenditure of the cFwity. This in¢ludes expenditute noi included in the annual firwjcial budget and the awarding of grants 4nd other payments to the Charity's many beneficiaries. Th¢ Executive Comrnittee is also responsible for the Charity's care horne. Brinsworth House and this re$FsibIlIty includes the home's upkeep. reIrS and maintenance, together wtth the safety. security and well-b¢ing of its many residents. En 2023, the Trusttts reryappoint¢d Evelyn Partners Trust Cor)raIl( Limited as the Charfftty's regiswed ¢ustodians. As custodians, Evelyn Parthtt5 hold5 on trust all title deeds of th¢ Charity's promies and custody of th¢ charity's various trademaTks.
Trustets, Re rt CODtinued Public Be#efit The Charity rem8ins Committed to the a?Tn of woviding'pthlic benefit, in accwdm with its founding policies. and th¢ Trustees confirni that ihey have paid due regwd to ihc provisions of SlI0 17 of the Chariiie5 Ac(2011 in selling aims and objectives and planning tle a¢tiviti¢s. The Charity. under its Chainnanship. has been transfornied over ent years and now provides a m(Klern spirit of transparency and q)emi including detailed di%losur¢5 and a complete overhauling of the Charity's governing 'Rules and C¢)nstitulion'. Our Grants sub-commill¢¢ met regularly over ihe year ond at all times w¢fulty considered areas where it could improve our work for 'public benefil, and subsequenily recommended io our full Execuiive Cornmitte¢ they ratify the awarding of nuTnernus grdnts and gifts to those i need. This y¢ar. the Charity awarded grants to individuals totslling £164,56512022: £80,786). In addition lo the grants, the Charity ¢ontributed £227,151 Q022: £172.906) iowards care hom¢ fce shortfalls for residents at BrirtSWOrth House. The Charity also £1,412.818 (2022: Q.133,888) on r¢fiwbi5hment and imwovement cost5 to Brinsworth House. In summary. the Charity's Oltional plans ar¢ (kviscd to combine our strategic obieciives with our financial means and are developed to maximise our exF¢ndityre WardS OUT many beneficiaries; bein8 mindful of the Charity C(Ynmi5sion's guidanc¢ on i0eaSing.pUblic ben¢fit'. Rlsk Ma28ement The Trustees have introdured fonnal risk nwiagem¢nt processes to assess risks and imp]cment risk management Strategies. This h&s involved identifying th¢ tyrKs of risks the ChaTity may facc. prioritising ihcm in temis of potential impact and their lik¢lihood of occurrence, and then ideniifying mean5 by which to mitigate those risks. As part of this Iwocess th¢ Twst¢es have revi¢wed th¢ adequacy of the Charity's current internal controls and ihe costs of operating particular ¢ontrols rElative to the b¢n¢fits obtained. PrrKedures have been established for reportin&> failings irnmediately to appropriate levels of mana8emeni and Officers. The prTrncipal risks aThJ uncertainties facing th¢ Charity are the proiection of th¢ int¢resL8 and nttds of our more vuknernble beneficiarie5 and (xjr continuing dependency on public support for the financing of our essential activities. ls noted below and in conne¢tiOD Wlth our reserves policy. In view of lh¢ legislatiye changes within the Chariiies Act 2011 wilh re14tion to ¢8re homes. the Charity has employed Ihe s¢rvic¢$ of Croner Group LLmLt¢d to provide cOmt technical advitt and praciical supp)n in the managemcni of Health, Saftty and Wellbeing and whose main Tole is to oisure all regulatory Tequirements ¢omplied with and maint•ined. The generic controls used by the Charity to minimise risk include: Any strategic development planning under review" Comprehensive budgeting and management accounting- Formttl written lIcI¢S including ckar authorisation and a[oVal levels: Vetting pro¢ur¢S &8 required by law f(Y tht proteciion of the vulnetabl¢' and Health and safety is always paTamount &5 part oftyjr risk management controb and the risks within the ¢ar¢ home range from firc hazards io infrasttwlur¢ repair5 and maintenance to [Sonal risks. The nwnber of xtivilies wiihin the rare home Are both abundant and impressive and the risks a&1ted with all aaivities are minimi5¢d to the bESt of the ChaTity'S ability through ptanning and c()iinual. (-goin8T1Sk assessm¢nL The TTUStees and Execuiive Commkt¢ are 1SfIed for all major risk5 id¢n¢ified. apwopriate controls and funds i Ihe Reserves in place and maintained to miligate risks adequat¢ly. It is recognised, however. that Systems and risk manageme4t ¢ontro15 only prDvide a level of Teable assurance and not absolute wurdnce that major risks have been managed and minRmised effectively. The Charity's main funthai$ing event was h¢ld in 2023 and generated sub5tanti41 fimd%. Alms, Objedlve5 athd A¢tlvlties ofthe Charity As detsil¢d aiK>¥¢ the ChaTity has alw4y5 paid Tewd and wn5id¢rntMNb the published guidelines by th¢ Charity Commission relating to the'publi¢ benefit. Tequirernent of the Charities Act 2011.
Roi ri Trustees. Re rt Mtssion St8iement The Charity strives to support all those in ne of help and assistsnce. trx)th young and old. who have w(Yked on the stsge. in the winw in front of a ¢hm¢rd OT Ixhind IL as well as all those who hav¢ spent their lives working in the nuMerS supwKt industri&% U[ whith th¢ ¢ntertairnt Fyofession reli Ainb$ #od Objectlve The Charity's airns and objectiv&s are for the relief of poverty of &rfOrmS and entrrtainers. and h¢r pe(wle who or have been c105ely asSocied with the eniertainrn¢nt profession ('Entertainmeni Arties.), their surviving partner& spouses and dependants and for ihis purp)se. but not otherwise. the income and propeffy of the ChaTity shall be applied $ol¢ly for the promffjl of those Objec including: To award grants to al]evi8 hathip: To contribute to, or pay all. funeral expenses. For so long ¥ th¢ Executive Committee and ThLs shall derMIne pnthnL to operate and rnatntsin a nursing and care home for 'Fmi¢rtainment Artistes. and to Contrib¢ to th¢ fee5 associated with being a resident in the home. The Charity's dedicated care hom< Brinsworth House in TWICkenh Ion. has facilities for up to 32 residents - 16 residential and 16 nursin8 ¢art Trsidents- who require fvll or semithnur5ing w¢. Our vision is to ensure for those who have drylicated their lives to the erttenairnt of others illnes4 povety and old age don't hinder and degr&Ae the remAin(kr of their lives. (Jjr objective is to provide r¢li¢f to 'Enlertainment Artistes. and their familie5 by helping to improve their comfwL suffering aThJ rnisfornthe by tKoviding 5UPPOrt and working in paTtheTship with those who share our visi(m and mission. A¢hiev¢methts nd Perforn•nee As has been the ¢a5e Since the Charity w&8 founded in I8, it'5 care home. Brinsworth House. in Twickenham. w¢st London, sits ai the very core of its operntion. Membts5 of the management body are in close daily cont4d with the home's clinicians and xthninistrator5 to enSUTe thai the estsblished high standard5 of cart and accommodation a maintsined and enhanced. Monthly meetings are held with staff and with residents and thetr fwnili¢s to clIsh Eeve]s of satisfaction and identify any areas which may requir¢ wention. The Charity's Executive Committee m¢mb¢T5 4re chosen to represent all age wups artd to provide advi¢¢ and ¢ounsel based on their extensive eXrienCe WOTking in a wide variety of IMlneSS and chaTity Sect. in¢luding prom. finance. charity admtnistration and the ent¢rt4rnrn¢nt indu5ty itself. Entertainment and activities are &ssenttal factors for the me1 well-Ing of our residenty We would like io thank all the arti$tes who entertained our restdents.. Actors Richmond. Benjamin SIiKk. Carol Wel. Chrisiina Johnst(-Myathln. David Capri" Els Wilkes: Emma O'Dell. Emma Woodbum¢; Fiona Paige. Gany Mutrell: Harry KeT5haw' Ig(Y Outkine: James Hay. James Hodgson. Jason Allen" John Pltsck. Kie L¢wi& Linda Watts. Lloyd Ellery: Marc Ellery. Mark Porter,. Martin Cleave" Mike Marandi. Miranda Richards. Shelley Van L(Kn and the Palm Court Strings. Kate Garner. Johanna Maki" Paul Woodcock. Peter Toth. Rah Rah Community Theatre Company. Sam Jewson" Shani CantOT" Simeon Wood. Steve HewletL Tham Stanbury. Tom Carradine. Twisted Piatjist.. Vivienne Mcmaster. In addition, tiVitIeS included.. flower arnging, g¢nernl knowledge qui7 movie4 fitn¢ss sessions, nai15 3nd hand m&ssag¢5, arni¢hair yog< bingo. group crossword5. and singin& Intrrdenominational p&%toral care is in the hands of our Chaplain, the Reverend Simon Grigg. The Charity aLso has Sky TV for the resident's enioyment.
Trus¢ees' Re ntinutd Aehievements and Performance (¢ontlnthtd) (r cliniL71. care gnd athninistrative staff undert(K a widE range of topics fmm our E-karnin8 pmgramme. our consultsnt trnin¢r and extfrnal session4 covering such d?ver5e topics as medication managem¢nL Covid-19, infectio control, ¢nd of life ca, food hygiene, mouth Care, moving and handling. and record keeping. OUT Staff were awarded 321 certificates of proficiency in 4 variety of carerelated topics through e-learning and internal cowses provided by our outside training con5ultsnts. Technology was tsken advantsge of during a challenging year for our in-house training programme wi¢h sorne sl0S held on Zoom. Brinsworth Hous¢ L5 a l(m8-Standing respecied mernber of the I(8] community and ts proud of its $trong tonnection to the area and its fim) reLitionship5 with the local Primary Care TrusL the ¢M¢¢Y serrfices and local Schools and colleges. Fundraising Bd Events The Charity's principal annull fvnthlising event is the Royal Varicty P¢rformK¢. which w&8 staged in 2023 at the Royal Albert Hall on Thwsday 3 November2023. The Chaillnan of th¢ Chariry. Giles Cooper. w(Kked closely with ITV Swdios to w0Ce thi5 unique eveni which was It¢nd¢d by iheir Royal Highnesse4 The Prince and Priftc ofwaks accompanied by th¢ Crown Prin¢tss Victhria and Prin¢¢ Daniel of Sweden. The show was hosted by BEadky Walsh and the artistes featsTed ineludEd.. Malevo: Larsson. Rosie Jones" Crazy For You,. Viw V¢nn' Paloma Faith. Tom Alkn: Hannah Waddiw. Derren BrowTr's Unb¢li¢vable; Thc Big Little Thing5" Rick Aley. Simon Brodkin" McFty" Meloni¢ C and Ben Fortr. Lang Lang and Lucy. Sist¢r A. ond Cher. Th¢ show was televised in the UK on ITV and ITV HD and streamed on rrvx, attTrcting high ratings. As usual, the show was also screened around th¢ worl¢i including on Christrnas Day in AustrdliN N¢w Z£aland and South Africa. The Charity would like to pllt on rttord its thanks Chairman Gi1¢5 Cw forhis hard work and enthu51a5rn. The Charity receives royaliies from clips of Royal Vari¢ty P¢rfornLances which are thowij on tel¢vision worldwide during subsequent years. In 2023. royaliies amount to over £I.(m)0 #re included in "Fundraising" on page 10. The ITV'S 'Bri¢ain's Got Talent, generated irKom¢ of over £20. in 2023. We indebted to Simon Cow¢ll and All ai Syco Television for their continued Sup of our Charity. The Charity also rrceiyed lega¢ie5 and donatiLW the year amounting to £124,115 (2022: £572.035). While the annual value of these contribu¢iw]s is UnPTedittabk, it mnains a helpful Sou¢ of arteillary income forthe Charity. 2023 saw the Compl¢¢] of the final phase of WO at BTinsworth House ¢ovtrAng the refiobishment of seven bedroo and the hair salon.
Trnstett, R ed Firtncll Review od Results for the year The Siatem¢nt of Financial Adiviti¢s (SOFA) is set out on page 10. The Charity's net movement in funds w&% negative £291,301 in 2023 (2022.. n¢gativ¢ £233.383). The Charity's main sour¢e5 of income before costs in theyegr w#e: 2023 2022 Fundraising 'Britsin's Goi Talent. Legacies Donations, appeals and investsneni income Residential and nursin8 care fee$ Grants 1.471 23 65 147 lJ36 1.449 25 523 155 1.058 33 45% 16% 4% 45% 33Yo £3343 Ioo•A Finnciil Management and Res¢rveJ PolKy As a matter of policy. the elected Tru5tee5 review exh year the value of Teserves retained in the forni of inve5thients. cash and cash equivalents ncrt held for re5trided purposes or designated PToi¢¢ts. The elected Thlstees consider the Charity's exposure to major risks in ternis of their likely impact on its incom¢ sour¢es and p]anned expenditur¢ in the short ¢0 medium tern). as well as assessing the best way to mitigate ch with inrome. The majoT risk is of a thcline in voluntsry incom< particularly due ts) any w>nomiclstock mwket downttmi and other factors leading io both declining legacy vatues and Teduced donations. The pr¢sen¢ target range for free resetves is tdeally £5 million. which would equate 10 24 months plus total expenditure irt han4 to enable us to cope with unforese¢abl¢ ¢MCCleS. Genernl Reserv are £1.475.970 a5 at 3 ISI December 2023 (2022 £3,194,625) and therefore fijthre budg¢ts will be Set to achieve an operating Surp1 to reach this tsrget. The d¢signthd fund for red assets stands at £8,830.374 as at 31# December 2023 (2022 £7.403.020l It is not a restricted r¢serve. Investment Polky The Trustees act in a¢¢ordaTKe with the 'TnteC Act 20(X)' p#ying particular attention io 'duty of fja. irnp)5ed up)n trustee4 trusi¢¢s' pow¢rs of investhient and the pow¢r 10 4)point nominees and agents. Th¢ Truste¢s note that the Act "seis a n¢w duty of we, both objective 8nd standar4 m&s$ively extends the ttustees, pow¢r of inve5¢ment and limits the stees. liability for the Actions of agents. also providing fortheir remuneration for thne." The present investment policy is lo mlM]se the long-tttm iotal retyrn of the Charity's InVnn¢t W subj¢¢t to the risks nomially a&8ocIai wilh a balanced approach io NJrtfolTO management and subject to an ethitttl stance that excludes any investhient in amiaments. in view of the severe disabilities so often resulting from their use. Except for the at¥)ve. the Charity doe5 n( restrict its ffijnd m8nog¢rs with regards to any catrgory of invesm)ent. However. il expects and eThcourdges fimd mwers to invest onty in ¢ompani¢s h8ve appropriate governance and social responsibility policies. We also exw that the actÈvities of ¢ompanie5 will be monitored th against their own stsndards and policies and also again the stsndards of s(lery in gen¢rnl. During the y¢ar, &hToder & Co Limid and Evetyrt Parth¢rs Investmeni Managunent Limitryj managed our portfolio5. The Charity's Tre&sur¢r receive5 reports from the inv¢stm¢ni managers on a qtwterly b&%is th revi¢w the invesimeni portfolios and these r¢5ul¢s are reported to the other Trustee5 aThl Executive Committee. The 2023 t7 realised rettjrn was a gain of £73.044 (2022.1(5 £50214) and unrealis¢d gain wa5 £15.938 (2022.. loss £194.941).
Future pls The Charity is &s ever committed to improving the effi¢ieti¢y of its OlKTation and is (1xtlY looking into all areas of how its w(k could be imwov¢d. Thc Charity is cornmitted io helping mwe in need and has improved the efficiency and effectiv¢nes$ of its nationwide grants schem@ allowing more applicants to receive help in a faster time. The Charity 15 4150 looking to see how it call widen its level of 5UPN)rt io all areas of the entertainment industy for p¢ople of all a8¢% and a review of our brand and presence in the indu5ty is currently king discussed. Our forward-thinking appr1Ch to ihe Royal Variety P¢rformanc4 its younger awJi¢nce and the supF of all generations of the Royal family. will be encouraged and further nurtured. OUT Current television produ¢tion and broadcast ¢ontratt with ITV will continu¢ 111 2025. On a side nolA Britsim's G Talent, produced by Thame5 (a division of Fremantl¢ UK) and Simon Cowell's Syco Entertainment. continue5 10 return ¢xeellent Tatings and h&8 eXteIed its conlwl with rrv until 2024. As wt of the Ch#Tity's fimdamental str¢¢gy. the TTuskes have r¢vi¢wed the ets for 2024 and 2025 are satisfi¢d Ihat it is appropriate to prepare th¢ f)noncial staments on a'goin8thCOJKCrn' basis. Finally, plans are being mr4J¢ to hold our main fimthising evthl the Royal Varidy Perfomance. toward5 the end of the A¥ditorJ During ihe year the TTWt¢es reviewed their wdit requirunents and decided to re-appinted Haysmacintyre LLP audirors. Approved by the Tre£S xd signed OD their behalf by: In accordance with the Charity's Ruks & Constiluiion updaied in JODW 2016. this Annual Report and Financial Statements for th¢ year ended 31 Decemb¢r2023 is appY0V and signed by the elected TTU5ttts. L8urie Man$field Hon(xwy Lif¢- President & Tru¢¢ Gile5 Cotyp¢r Chairnian & Trus lan Freeman Treasur¢T & Trustee Dated: 28 June 2024
tem¢at of Finn¢knl Actiwiti¢s for th¢ e•r ended 31 December 2023 Totsl Funds 2023 Total Fund$ 2022 Note Income froTh: Donation5 and legKi¢s: Fundraising TV fees (in¢luding Britain's Got Talent) Legaci¢$ Donations, appeals and fundrnisin8 events Grdnts Income from investments Other Income 1.125267 370.)0 64.690 59,425 1.113.435 360.000 523.162 48.873 33.031 105.723 50 85,879 1.260 Ineotne from thAri¢*ble activiti Residential and nursing care fee5 lJ35.563 1,058,256 Tot•1 income 3,041084 3242J30 Expenditure o Cost of geTrerating funds: Royal Variety Perfomiance Investment management costs Other fidrdls1ng and publi¢ity 473.407 9,187 248.297 472.375 18,152 392.855 ChArit#ble 4ctlvhks Brinsworth House Residential and nursing ca Charithble aid 2.406.231 199.366 2.134,206 107,447 Tothl exptndlture 3J36.488 3,12S035 Realised inves¢ment (loss) Unr¢alis¢d inv¢sthient gainlooss) (12.835) 15,938 (155,937) {194.941) Net {¢xp¢nditure) (291JOI) (233J83) movemeTrt In fullds (291,301) (233.383) FuRds brought fornard •5 At l January 2023 10.597,645 10.831.028 Tolal fvnds #$ at 31 D¢£mber 2023 11& 12 joJ44 IOJ97,645 All amounts relate to c(ffitinuing activities. There were no other rec0gtt1 g4in5 or losses during the year. The accompanying noies (m pag¢$13 10 21 forn) W of these financial slateMts.
laiee Sheet t 31st Dtttmbtr 2023 2022 Flxed Assets Tan8ible assets Intangible 5£1$ Investments 8.830.374 7.403,020 8b 1.137.747 ,911,444 9M121 9Jl4464 DebtOTS Cash at bank and in hand 343,457 558.628 728.241 1.277.256 902.085 2.005.497 Credltors: amounts falling due withln one year 10 (563.862) (722.316) Nei Current Assets 1,283,181 To¢•1 Assets less Curreni Liabilities IOJW44 IOJ97645 Funds General Res¢rv¢s Iurttestricted) Fixed ASS Fund (Designated) 11& 12 11& 12 1.475.970 8.830.374 3,194.625 7,403.020 Total FuDd5 IOJ06J44 10.597,645 nancial statements were approved 8nd authorised for issue by the Board of TThstees on 28th June 2024 and were low on its behalf by: LAurit Ho#. per- Hon. Chalrni•n le- Ho•. Vi¢e Cblrman Fr¢¢man- onornry The accompanying ntM¢S m pages 13 to 21 form Phrt of these financial 5tatem¢nts.
ritr iemtnis 20 Clshllow Ststem¢Dt for the ar ended l D¢cember 2023 2023 2022 Re¢on¢ill•tion of net income to net Ilow frorn operAti•t aetivities Net (expenditure) for the Teporting peri Depreciation and amortisation charges Ikcreasel(Increase) in deErtors (Decre&%eyIncr¢as¢ in editOrS Interesi 2nd dividends Losses on investments lfjainsYLosses on di$posa]s (291.301) 123,123 384,784 (158.453) (85,879) 12,835 (15.938) (233.383) 101.407 (67.054) 565.524 {105.723) 155.937 194.941 Cash Ilow$ from op¢rntlng activities (3W19) 611,fA9 Cash Ik)Yn from invegti•z ¢tlvhks Dividends and interest received Purchases of thngible assets Withdrawal from invesmient wnfolio Purchase of invesmients Proceeds from sale of inv¢sthients 85,879 105.723 (IJ50,477) (2,307.597) 788.895 1.100,000 (47.597) (14,fy)5) 35.501 {71.057} Net $h (used) Iprovided by Investl•i aetlvltks (687,799) (1,186,936) Change in and ¢8sh equivalents in the rewjrting PttKNI Cash and equivalents at the beginningof the reFxKting perKMI {718.628) 1277256 {575287) ,852.543 Cash an41 casb ¢q1VAlents at the end of Ihe reporting SW28 1277.256 Notes to the Cuhflow Statement 2023 2022 Analysi5 of ¢ash cash eqvlvleTrts Cash at bank and in hand 1377356 Analysb ofnet debt Asall" Jnury C*sh flow Asat31° December 21ll3 Cash at bank and in hand 77256 718628 55&628
Notes to tbt Financi•l Statements for th¢ r ended 31 Dffember 2023 AefouThting Pollcleg A¢to•Mtlng eonveutio The financial sements have been prwed in acco with Accountin8 and Reporting by Charities: Siatem¢nt of Recommended Pr¥tt¢e applicable io charilies preparbng their accounts in ace(yrdance with the Financial Reporting Stsndard applicablc in the UK and Republic of Ireland (FRS 102)- (Charities SORP- FRS 102 5¢wnd edition. effedive I" January 20191 and the Financial Reming Stsndard applicable ID the UK and Republi¢ of Ireland (FRS 102). The Charity rneets the definition of a wblic Pnefit entity under FRS 102. Assets and IiAbilities are initially recognised ai historical cost or IsactIon value unless otherwise ststrd in the relevant accounting policy notels). b) Fixed Assets Fixed assets are recorded ex• for fredld iryuty. Amounts incurTd on capital items over £l,l)00 are capitali%d. The Charity has revalued the fTeehold land and lyjildings and th¢ revaluations have b¢¢n incSud¢d in th¢ accounts. Depreciation is calculated to writ¢ otTthe cosi of all tangible fixed assets, other than freehold land. which is rt depT¢ciaie4 in equal instslments over their estimed us¢fLhl lives using the following rates. Estimated Useful Life Buildings Furniture, Fixtures and EqUIent ComputeTS and oifice Equiwna)t Tra(krnarks and Patents 50 years 10 yeaT5 3 ye5 5 year5 Ineorne Fee and ti¢kd sales income is recognised when receivabl¢. fknations are recognised bn the year when they are received. L¢gacies are recognis¢d at the p)int when entitlernent and amount are confirni¢d. Grants, where entitlement is nol conditional on the delivery of a 5pectfic performance by the Charity, are recognised when the Charity becomes UnnditIonallY entitled to th¢ grant. d) Expenditure its buls of alloc•ti All expenditure is dealt with on the accruals basis and includes value Jded t¥x where charged. Charitable expenditiwe Compris those costs incwred by the Charity in the delivery of its activitie5 and services. It includes direct costs of athiviues and the costs of an indirect natur¢ necessary to supm ihose activitie 4llocad between expenditsre egOrIeS on an basi5 as set out in note 5. Governance ¢osts are those costs a8gocied with meeling the ronstiwtional and statutory requirements of the ChaTity and include the audi¢ fees and costs linked to th¢ stra8ic manweni of the Charity. FwNd etounting Th¢ unrestrictwj are fees and oth¢r income receivable or generated for the obje¢tive$ of the Charty without further specified PUTFW and WE available as geJ)er41 fimds. There were no Te5tricted funds (2022- nil). Designat¢d fun&s are fund5 Set aside by the trustees out of unreSed genernl fvn&8 f specifK fijtsre PUTwJses or proi¢as.
No to the Fl n l•1 Sl4tements lor the r ended 31" Dteembtr 2023 Aeeomnting Pollel&8 (eontittued) T8xatlon All income and gains are exem from taxatiim and ha b or will applied for the ¢haritsble wrposes. Irrecoverable VAT is attribed to the relevant catwry or capital expertditure apprwiatr. Going ¢onttr The accounts have been pryed on th¢ asswnption that the Ctharity is able io carry on its a¢tsvities as 8 going concern. In assessing the Charity's ability to continue 85 a going concern. the Trusttts have considered the Charity's liquidity FM)Sition and reviewed cash flow fore¢sts for the foreseeable fuDJre. In additi io its cash r¢s¢rYes, it ha5 an investment portfolio to draw UFK)n with no exlernal de or security. For this re850n. the TTU5tees continue to adopt the 8oin8 concern basis in wepaTing the fuwicial statements. h) Leaxd assets nd oblitIonS All le&%es aT¢ trruting Luses- and the annual Mtsls aTE ed to the ststemem of finan¢io1 a¢iiviiies on a straight-line b&sis over the lease terni. Fixed xx¢t inv¢stwents Investments have beeA valud at the bid prices as at 31° DecembEr 2023. Investmert proputies are ststed ai their market value ttt the balance Sheet date in accordance with the SORP. Any Surplus or deficit artsing on reyaluation is taken directly ro the fund as an unrealised 8ain or loss. No deweciatton is charged on investm¢nt property. i) PeDsion scheme Costs are aO¢lated whth th¢ defined contribution auÉo-a)rohMent pension scheme and charges against the operating surplus are the contributions payable the scheme in respect of the accounting riod. k) Statement of eAsh flo The Chariry's cash flow siaÉern¢Dt r¢fl¢cts the Fyesentstion requirements of FRS 102. which ts different to that prepared under FRS l. lrt dItIon, the cash flow statement reconcil¢s ¢&8h and rash equiva]ents wherea5 under previous UK GAAP the 5tat¢ment Teconciled to cash. Debtors Debtors amd other debtors are reCOls¢d at the Settlement amount after 8tty discount offererl Prepayments are valued at the arnouni prepaid net of any discounts due. Creditors •JNI provisions Cr¢dÉ¢ors and provisions are Tecognised wher¢ th¢ ChaTity has a preseni obligation resulting from a p&51 event that will probably result in the transfer of funds to 4 third party and the amount due io settle thc obligation can be m¢asur¢d or ¢5timated reliably. Cdi10r$ and twvisions are normally rttognised at iheir 5eiilement amouni after allowing for any dixounts due. Grnts Grdnts are recwised ort a rettipts imsis.
Notes to Ihe Flnllell Statements for the ear e#ded 31. Decemkr 2023 contittued FIXED ASSETS INVESTMENTS 2023 2022 Llsted Investments Markei Value &8 ai l January 2023 Add.. addition to investments at C05t Increased retained cash Less.. disposals Less.. wiihdrnwal Addl(deduct) net gainsl(loss) realised Add net Bains on revaluations 1.911,444 47.596 606,117 1.114,004 (641.618) (1,028,9421 (788.895) (1. i (K).ooo> {12.835) (155,937) 15.938 (194,941) 3.277.260 Market V81ue #t 31 Detember 2023 1.137,747 1,91 IA44 2023 2022 bl Investment Imeome Dividend income Other Intere receivable 69,096 16,783 101.815 3,908 105,723 DONATIONS APPEALS AND FUNDRAISING EVENTS 2023 Total 2022 Total DonatioD$ 59.425 48,873 Grants 2023 Tot1 2022 Total Workforce R¢t¢ntion & Recniitsneni Fund Omicron Support Grant 28,386 4,645 33,031
ko 20 the FiADeiil Ststements for tbt e#r ended 31 Ilttember 2023 eontinued 5 (8) TOTAL EXPEIYDrfuRE 2fj23 HOTAX rtsidttsll•l and ollrsln8 Ch•Yitsbk Govrnott C•r¢ Aid Cojt of CeDer8tin8 Funds Support Tgtsl 2021 SttTnd rel•t¢d costs C¢erlug 14undry, ¢lettittE ¥nd tlledic•l R¢pir$ and m•int¢h#¢¢ Utllitit$, r¥i¢$ and &tt$¥r44¢ Othtr runttlng tmts Geher•l offl¢¢ ¢spÈnses P¥bli¢ity ind markeling RDy81 Vrlety Perform•n¢¢ Other ev¢nt Costs Prlntkn& &M)$tsg¢ sltv)ntry IT gnd ¢qylpm¢Dt Audlt Legol and Prof101 DepTe¢lation Bank chgrges 1.636267 134.642 149.167 34273 34,801 83.710 l J19,750 134ffj42 149,167 34373 124J32 94h27 38A25 45079 473A07 3,012 J&991 24A33 24J)IMI 5142 123.113 3&432 5,222 20.039 89.405 17.414 45,9 473.407 3,012 972 18.991 24.433 24.IXKI 14560 37.282 122.275 1833 161565 16U65 9.187 9,187 Dirttt tosts 6A3SII 2WJii 199J66 39J32 I94 JJ3&488 Support tost Governajtte twt 97.254 19.766 {194,508) 19.7f 139.532} Totsl Costs 73U91 2.406231 199J66 3JW488 S Ibl TOTAL EXPENDITURE 2022 Br10stth House Cost of reside•tial Cener8ti•i Dd bllnlii8 Ch•ritsble CovenJ•Dtt F¥•ds r¢ Aid spp•rt Tffvtsl 2022 Staff and relt0 Sts Caterittg Laundry. tleanin8 OtMI Repairs and maini¢n8tK¢ Uiiliiies rates and insuran¢e Oiher runthing cos Genera] offiee exp¢nxs Publicily and markeiinB Royal Variery Perforn)Ènce Oiher event co Priniin& p05tsge and swionery IT and quipmeni Audit Leg818nd woressial Depreciation B8k chargcs Grants Inve5tmcnt management co#5 1.461.156 105.463 119.371 44.928 87.555 105.897 2&661 80.011 1.655,472 105.463 119.371 44.926 18,145 30.5 4.264 21231 1.943 174,219 471375 20,283 23.174 174,219 472,375 20.283 19. 19, 20.7 16.872 101,407 4.131 80.786 18.152 19. 19.7 20.71KI 16.872 101,070 337 18.152 Dlrtet tosts 774616 107847 37Jr£ 179.96• 3.12SI)35 Jppon cost (lovernance cos1 89.980 18.786 89.9BO 1&786 1179.960) {37Jni TotAI Costs 883J82 2.1343W) 107J47 512S035
Notes to th¢ FiD•n¢ial Statements for the e•r ended 31" Deeembtr 2023 STAFF COSTS 2023 2022 Wages and salarie5 Sla1 SecuTity CosL% Pensions Agency aThJ contract staff 1.609,854 162.033 39.720 8.143 1.464,540 148.252 35,390 7,290 1019,750 1,655472 The totsl cost for our four Key Management during the ye8r w&8 £285J59 (2022: £270,517). Their salaries were in the following bands= 2023 2022 £70.(1 p.a. to £80.(KKI p.¥. £60,(K)I p.a. to £70,0(rf) p.& Below £60.1)00 p. . No other #aff re¢¢ived £60k or more in th¢ yw (2022: nil). 2023 2022 No. The average weekty numbtr of employets analysed by fvnLtkon was.. Briftswth House re5identiJl and nursing care Fundrdising and publi¢ity Support staff 45 49 49 The ClkaTity had supp(rt fmm hvo volunteer in th¢ y¢ar (2022.. one TRUSTEES No emoluments were paid ¢0 the Trustres durin8 the yeaT (2022.. £nil). Trnvelling expen of £4.325 w¢r¢ paid to eight TTUSt¢es durin8 the year (2022: six Trustees £1.5LX)).
ROTr 2D Notes to the Finneil Stateme fort r ended 31 Dettmber 2023 coDtinued 8& TANGIBLE FIXED ASSETS Furnitur Fixtures & EquipmeTrl Computers And Offiee Equipment B[kIl¥s Totsl Cos¢ or vluAtio• As at 1st January 2023 Additions 7.960.125 1.412.818 222.764 133,550 3,194 4,109 &186,083 1,550,477 Ag at 31s1 De¢¢wber 2023 9J7L943 356J14 7J03 9.736560 Dtprecl#¢ityn As at 1st January 2023 Charge foryear 749.624 96,763 30.868 25,512 2.571 783,063 123,123 Al •t 31st December 20LI 3A19 90&186 Net Book Value As #t 31st Dectmber 21n3 299,934 3884 80W74 As at 318t December 20n 72lOJOI 191096 623 7,401020 Th¢ trust¢es made the decision to revalue the in 2014. Th¢ ¢fftctive date of the valuation wa5 4th December 2014 and it was recognised in th¢ fiTt8ncial ststements ended 31° December 2014. The voluation wa5 p¢rfoTm¢d by Shaw and Comp8ny {SurveyoTS) Limited. The valuation was made in accordanc¢ with the Practice SeMents of the RICS, Appraisal and Voluation Manual. It was carried oui by an external valuer who (onforms lo the requirements of th¢se Pra¢ttre Statements. The valuation was based up)n existing use vAlue of BTinsworth House at the valuation date. Th¢ historical c051 carying amount would be £1,107,387. Fully depreciated &sset4 no longer irt use. wer¢ written off in the year. 8b. INTA]YCIBLE FIXED ASSETS Trndtmarks
nd pxt¢nt$
Cost As at 1st January 2023 Additions 50.453 A5 at 31st Decernber 2023 $0.453 Depreeiation As at Isi January 2023 Charge for year 50.453 A$ At 31$t D¢¢¢tyber 2023 50,453 Net Book Value As at 31st Deeember 2023 As at 31st December 2022
Notes to ihe Fith•n¢il Stattments for the ear eTrd¢d 31. ber 2023 eoTrtinued DEBTORS 2023 2022 Rr5idents & other ftts Prepayments Other de15 271,928 47.344 24.185 412.852 59.339 256.050 343057 728,241 io. CREDITORS: Amollnts falling dw¢ within otte year 21122 Trade Creditors Other laxes and social 5ccurity costs Accruals and defert income Other creditors 371,726 40,360 140,614 11,162 545.302 34,569 131,205 11,240 563,862 722,316 {) FUND BALANCFS 2023 l Ja#u•ry 2023 I¢0m¢ less Iwve5tmeD¢ 31 December 2023 EAptsdltre Transfer Unre51ricied fynds G¢n¢ral reserves Designated fvnds Fixed tt fijnd 3.194.625 3.058,022 (32262(Kl) (1.550.477) 1.475.970 7.403.020 {123.123} 1.550.477 8.830.374 Total Wnrestricted funds 10SIyl,645 I(W022 (3J49J23} IOJ06J44 (b) FUND BALANCES 2022 l Jathury 21)22 31 Ikcember 2022 Imve5tmeDt Expenditu TraTr5fers Unr¢stri¢ied funds General reserves DesignN¢¢d fund$ Fixed a55et fund RefuTbishm¢nt fund 4,096.914 2.891,652 (3.125.035) (668,906) 3,194.625 5.196,830 1.537284 2.206,190 (1.537,284) 7.403,020 Total reStrICted f•nds IWi.028 U91th52 {&12S035) I09y.045
8ltm¢nt5 2023 to the FITr¢511 Ststements for the r etsded 31° December 2023 inued 12. (8)ANALYSIS OF NET A&SETS BETWEEN FufiDS 2023 Unrestrleted Dryated FuDds Funds Tot•l Fund balances as 31 D¢cembu 2023 are represented by.. Fixed assets Intangible &%sets InvesDnents CuTrent ass&s Current liabilities 8.830.374 8.830.374 .137,747 902.085 (563,862) 1.137.747 902,085 (563,862) Total Det aS8ets ,47S9YO WJ74 IOJffj344 12. {b}ANALYSIS OF NET ASSETS BETWEEN FUNDS 2022 u•r¢thI Deslgnt¢41 Flld$ Fllttds Totl Fund balances as ai 31 D¢¢emb¢r 2022 aTe represented by.. Fixed a55ets Int4ngible assets Investments Current ass¢ts Current Ikabili¢ies 7.403.020 7.403.020 1.911,444 2.W5.497 (721316) 1.911.444 2.005.497 (722.316) Totsl net •ss¢ts 11¥625 7A03.1120 I(JW7,645 13. OPERATING LEASLS 2023 2022 Payable: Within l y¢ar Payable: 2- 5 y¢ars 69.819 178223 42.089 120,525 24&042 162.614 The (wating leases relate lo totsl costs of bujlding5 equiFxneDL RELATED PARTIES The Charity has Consideral th¢ d105ure reqUireMts of th¢ SORP (FRS102) aTJd believes that the following 'related party transaciions.. which wtt¢ made at an 'arn?'s length, bls, Tequirts dis¢losyre.' During the year the Charity Sed the service5 of Giles Cwper Enrtainment Limite4 a ¢ompany owned by Mr Giles Cooper. at a total cost of £34, plus vat (2022.. £34.900 plus VAT). The company rIed out 'donated' markeiing s¢rvi¢es for the Charity's annual fundraising even4 th¢ Royal Variety Perfornian¢¢ and the after-show party and includes the costs of placing advertisements in national n¢wspapers. the design and production of the show's brochure and &g$0¢iat¢d markeiing materials throughout the year. The 5erYitts are rerfharyed * ¢ost. The design Services are put out to tender every five year& The balance outstanding at 315T December 2023 was NIL (2022.. nil) During the year Mr Gil¢s Cooper also donated his PTorloal time for advi50ry Services relatrd to fimdraising and governance. The lUC of these donated S¢Tvice5 is calculated at £105,(X)0 (2022 £ILK).000).
Not FlTrncil St•t¢ for rffithd31° DeeembeT2 eontittued RELATED PARTIES (contioued) Committee member Valerie Saunders stayed at th¢ Charity's e home, Brinsworth House. from the 17 January to the P June 2023. with a£3,680 ¢ar¢ f¢¢s subsidy by the Chjrity. Committee member Kay Cannan Stsyed the Charity's care home. Brinsworth House. from the 19th November io the 29th Decernber 2023. with ? £3.fAK) care fees Subs by the ChaTity. There were no oth¢r related party ¢rnD5aCtions requiring disclosure in the year. I& CAPITAL COMMITmEs The Charity had no¢ rapitsl c(*nmilments at the financial year (2022'.£495,IXIO).
2023 Independent Auditor'i report to the Mewbers of Tre Royal Vrrty Ch•Tity Opinlo W¢ have audited the financial statements of the Royal Variety Charity for the year ended 31 D¢c¢mb¢r 2023 which compris¢ the Stat¢Tnent of Financial Athivitie4 Balance Shttt and Cash Flow Ststement and notes to th¢ financial SlatemenE including a summary of significant accounting policies. The f]nan¢ial reportin8 framework that ha5 been applied in their preparation is applicabk law and United Kingdom Accounting Standard4 includin8 Finan¢ial Reporting S¢ondard 102 The Fintmcial Reporting Stondard dppliciknle in ihe UK and R¢pMblic of Irelond (Unit¢d Kingth)m Generally A¢¢epted Accounting Practice). In our opinion, the finart¢ial statements.. give a tsue and fair view of the stste of the charity's affairs as w 31 December 2tr23 and of the dwity'5 net movement in funds for the year then ¢n(kd. have been pwly prepared in ¥c(thce with United Kingdom Genaally Accewed Aonting Practice. and have been prep¥red in acrdanCe with the Eequirements of the Charities A¢t 2011. Basi$ for opinion We have been aptted audilor under section 144 of th¢ Charilies Act 2011 and &m)n in CordanCe with the and relevant Tegulattons made or having effect thereunder. We widuthd our a11( in aCrdance with Internati{al Standards on Auditing (UK) (ISAS (UK)) and applicable law. (hjr responsibiliti und¢r thos¢ 5tsndards are further described in the Auditw's responsibilities for the audit of the fin4n¢ial ststements s¢¢tion of our rew)rt. We ar¢ ]ndndent of the chartty in accordan with the ethical requir¢m¢nts that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fiklfilled our oth¢r ¢thi¢41 reswTrnsibilities in a¢¢ordan¢¢ with these requirements. We beli¢v¢ that the audit evÈd¢n¢¢ w¢ have oiained is suffi¢i¢nt and appropriate to provide & basis forour opinion. CoDcluslons relat1% to going concern In auditing th¢ fiTJancial statement& we have ¢5uded that the tne&*. vs¢ of the goin8 concern basis of a¢¢ounting in the pr¢paration of the financial ststements is apFryrith. Based on the work we have puforrne4 we have identified any matrrial un¢ulainties Telating to events or nditionS th, individually or coll¢¢tiv¢ly. may cast significant doub¢ on the charity's ability to continue as a going concern for a peri¢)d of at least twelve months from when the fmancial 5talements are authorised for i55ue. OUT Tesponsibilities and the rt5P(}1Ilties of the truste¢5 with resp1 to 8Oiti8 wnc¢m are descnlKd in th¢ Trlevan¢ section5 of this report. Oth¢r InfornAtlon Th¢ truslees are reswnsbi le for the other infomiatiLK). The oth¢r information comprises th¢ infonnalion ilUded in the TruMe¢s' Annual Report. Our opinion on the financial Sernents Ikjes not cover the oth¢r infoTrnalion except to the extent otherwise explicitly swed irt our rcirf)rt. we do Th)t exm any rn of assurance wn¢lusioD thereon. In conneeiion with our audit of the fm8ncial stst¢ment& our respottsibRIity is to read the other infomi•¢ion an(L in doing so, consider whether the other infom)ation is materially inc(#)sisient with the financial staiements or our knowIge obiained in the audil or otherwise appears io b¢ materially mi&8tsted. If we identify such material incon5islen¢i¢s or apparent material misstatement& we are required to detern?ine whethtt th¢re is a material misstatement in th¢ finanriul siatements or a mat¢rial misstatement of the other infoTmation. If, based on the work we have perf0mle we Conclude th there 15 a material misstsiem¢nt of this (Aher itif(xm4ti w¢ are required to r4 that fact. We have nothing r¢port in this Tegar MxtteTS on wbich we are requlred to report by exeeptknn We have nothing to rewjrt in r¢5pecl of the following matta5 in relation to which th¢ Charities (Accounts ond Reports} Regulations 2008 require us io report io you if. in ouropinion: ad¢quate accounting record5 hav¢ not been kepi by the ch8rity" OT 5UtTicient accounting re)rdS have not been kepL or the chartty financial 5talements are not in agre¢tnent with the accoun¢tng rordS and returns" or w¢ hav¢ not r¢c¢ived all the inf(trrniation and explanations we require for our audit.
R¢$ponsibilitles of trn$tees for the fip•neial $ttemeNts As explained more fijlly in th¢ frustees, Te5FsibilitIeS statement 5¢t out on page 4. the tru5te¢s ar¢ responsible foT the prepara¢ion of the financial swcments and for b¢ing satisfied that th¢y give a thje and fair view, and for such internal ntrol as the tTUS¢e¢s dderniine is ne¢¢5Sary to enable the weporatKM of fmancial s¢ments ihai aTe free fr( maieriaE misststrmenL whether due th ftaud OT etror. In preparing the financial 5tatementy the tswstses are respmsible for assessin8 the charity's ability to continue as a going concern. disclosin& as applicbl< matters relat¢d to going concern and using the going concern b&8is of accounting un1¢5s the trustee5 either intend to liquid8t¢ the ¢h8rity or to cease opernti0 or have realisti¢ alternative but to do so. Auditor's respomsibilities for the audit of the Ilnnciil skntewets Our objectives are io obtain rt&8onable assurance ab(1 whether the finan¢ial staments as a whole are free frorn material mi5sMement. wheiher due io fraud or ¢Tror. and io issue an auditor's Teport thal inGludes our opinion. Rea50ble rance is 4 high level of assuran. but is not a 8uaTani¢¢ thai an audit condurled in accordance with ISAS (UK) will always d¢t¢¢i a material miss¢ateAnth)t when it exists. Misstsments can aris¢ from fraud or eTfoT and are considered material if. individualty or in the aBgre8ate. they could relnablY be expKI1 to influence the economic decisions of users iaken on the basis of these financial 5tsm¢nty Irregularitie4 including fraud are instance5 of non-compli•Ke with law5 and wlation& W¢ design procedures in line with our responsibilities, outlined above. to d¢te¢t material Thisslat¢mvits in respect of irr¢8ulaTitw including fraud. The exieTlt to which our procdures are capable of ddecting iTregulJTitie4 including fraud is dthiled below: Based on our Undersding of th¢ rharity and the environment in which it operatcs. we idemtified that th¢ prÈncipal risks of non-compliance with laws and Tegulations related to the Caye StandaTds Act 2(KIO and the Care Qu4lity Commission (CQC) (Registration) Regul10n$ 2(M19. and we considered the extent to which non•compliance mighi have a material effect on the financial stat¢ments. We also considered those laws and re8ulations that hav¢ 3 direct impact on the preparation of the financial 5thtements such the Charities Act 2011. We evaluated man88ement's incentives and opywtuni¢ios for fixlldulent mthipu14tion of the f]nancial 51atemen including th¢ risk of override of ¢ontrols. Audit edureS wfomioj by the engag¢ml Eeam included.. Di%u55ion5 with management including consideTati¢m of known (f suspthj inst8ncL8 of non-complian¢¢ wtth laws and regulation and fraud. Evaluating tnanagement's controls designed to wevffit and detect ifTeguiaTities: Review of minutes of meelin8s held in the year. Identifying and t¢stin8 journals, in particular i(wrnal entrie5 made as part of the yw end financial Teporting process; 8nd Challenging as5YrnptiS and judg¢mthts made by manag¢ment in theircritical xcounting estimates Because of ¢h¢ inh¢rent limitatii)ns of an audit. there t5 A risk that we will n( detect all irregulariti¢& including those leading to a materhal misstatement in the financial sta¢¢m¢nts or non4ornplian¢e with regul10n. Thi5 risk increases the more that ¢otnpliance with a law or regulation 75 removed from the events and transactions reflted in the financial ststem¢nt4 as we will b¢ icss likely io be¢om¢ aware of snstsnces of non-compliance. The risk 15 also greater regarding irr¢gulJrities occu]ng due io fraud rather ernr. as fraud involves inteniional conceolm¢ni forgery, colluston. omi55ion or misrepre(. A further d¢sLYiPtion of our TponSIbl1}t1cS forthe audil of the fmancial stst¢m¢nts is located on the Financial Reporting Council's w¢bsite at: i¥ww.frc.or iiorsres 01151bili ies. This desctiNion f(¥yns pan of our audilor'5 f¢1. Use of our report This report is made s01¢ty to the charity'5 trw4ee4 &8 a b(*ty. in 4¢¢ord with se¢tirn 144 of the Charittes Act 2011 and regulations made under section 154 of that ACL Chw audil has been LmdeTtsken so that we might state to the charity's trust¢¢s those matters we Are required to stat¢ io th¢m in an Auditoes rep and ftir no other purpose. To the Ilest exteni Fthnitted by law. we do not accept or assum¢ responsibility to anyone other than the charity's tntsiees as a body for our audit work, for this rel or for the (yinions we have fornie41 Haysmacintyre LLP Statyiory Audilors 10 (&een Strett Place IA)ndon EC4R IAG