Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

**REGISTERED CHARITY NUMBER: 249039** 

## **REPORT OF THE TRUSTEES AND** 

**AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

**FOR** 

**THE 1959 GROUP OF CHARITIES** 

Seymour Taylor Limited, Statutory Auditor First Floor North 40 Oxford Road High Wycombe Buckinghamshire HP11 2EE 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to  5|
|**Report of the Independent Auditors**|6 to  8|
|**Consolidated Statement of Financial Activities**|9|
|**Consolidated Statement of Financial Position**|10|
|**Charity Statement of Financial Position**|11|
|**Consolidated Statement of Cash Flows**|12|
|**Notes to the Consolidated Statement of Cash Flows**|<br>13|
|**Notes to the Consolidated Financial Statements**|1 4 to  24|





Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

The trustees present their report with the consolidated financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 249039 

## **Principal address** 

5 Brayford Square London E1 0SG 

## **Trustees** 

P Chapman (appointed 25/10/2022) S Mayhew (appointed 25/10/2022) R A Monteath P Midgley 

## **Solicitors** 

Bates Wells & Braithwaite Cheapside House 138 Cheapside London EC2V 6BB 

Charles Russell Speechlys 1 London Square Cross Lanes Guildford Surrey GU1 1UN 

## **Auditors** 

Seymour Taylor Limited, Statutory Auditor First Floor North 40 Oxford Road High Wycombe Buckinghamshire HP11 2EE 

1 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **Legal and administrative information** 

The 1959 Group of Charities is a registered charity number 249039 established in 1959 and whose latest trust deed is dated 14 July 2011. The members of the Group appoint an Executive Committee in accordance with the Constitution which is responsible for managing the Group. 

The members of the Executive Committee who have served since 1 April 2022 are as follows: 

## Harvinder Chaggar 

Epilepsy Action 

## **Objects and activities** 

The Group’s objects are to promote the efficiency of member charities by facilitating the exchange of information about matters of common interest and encouraging voluntary work for member charities. 

Through the trading company, the Charity had developed a network of volunteers. These volunteers are provided with training to ensure sales are maximised. A total of £19.1k was spent on this activity. The trustees participate in a wide range of activities in pursuing these objectives including constant contact with charities, their associates, and partners to achieve additional support for their work. 

To continue the development of volunteering opportunities. Post COVID many of the volunteers left and have not returned so new volunteers have had to be recruited, with the use of social media becoming the best tool. Managers are provided with training and materials to encourage volunteers. Data base of volunteers has been developed. There are currently 505 volunteers. To develop exchange of information between charities - the new licensing model means there is less direct contact with the charities and this needs to be enhanced by regular communication. When the member and guest charities are seen to be working together, this enhances the overall strength the 1959 Group of Charities. 

Volunteers are critical to the success of the organisation. We recognise there is a greater need to recognise personal achievement. 

The members of the Group, who are all charities themselves, benefit from the general activities of the Group. As they are shareholders of Cards for Good Causes Limited, they also benefit financially from the activities organised by that company which generated charity card and other sales of £1,802,171 (2022: £1,431,097) during the year. Through The charity’s trading arm, Cards for Good Causes, The 1959 Group of Charities has been able to donate substantial amounts of money to over fifty charities which encompass a wide variety of worthy causes for the public benefit. 

By using volunteers, we are ensuring we work within our communities for the public good. 

Short term aims are to continue recruitment of volunteers and to bring our member and guest charities together on a six-monthly basis. Long term there needs to be a review of the relationship between the members and guests to define the different requirements in the light of the new licensing model. 

Expenditure was incurred to promote public awareness of the member charities, achieving a much higher profile for those charities and their connection with The 1959 Group of Charities. The volunteer co-ordinator encouraged and promoted voluntary work for the member charities. 

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Group’s aims and objectives both in the year under review and in planning future activities. 

2 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

The 1959 Group’s main achievement has been to sustain a presence throughout the years 2020-2023 despite the extreme impact of COVID and other external factors such as the postal strike and the cost of living crisis. Because the only real source of income comes from retail activities through Cards for Good Causes, the down turn in general retail activity and the impact on High Streets has had a profound effect. New volunteers have been sourced and retained. 

We were able to pay £122,532 to our participating charities. 

We were still able to raise funds for our partner charities; however this was less than we hoped for. We were able to retain, recruit and train over five hundred volunteers. 

There has been less exchange of information between the charities due to the new way we operate the trading company but we retain vital lines of communication with all our charity partners. 

We aim to move to a successful licensing model: this is done but needs further revision. Keeping close working relationships with our charity partners and new partnerships found. Developing new ways to recruit volunteers - using social media has helped but still needs improvements. 

The change to the licensing model was necessary for the survival of the charity. This has been proved to work; however there needs to be further refinement to the model and a strategic change towards 52-week trading. 

## **Finances** 

At the start of 2022 Cards for Good Causes Limited came under the control of the charity, please see note 10 for details. The total income was £1,871,134 (2022: £37,719). The total expenditure was £1,860,272 (2022: £112,308). The financial statements have been prepared to comply with the Charities SORP 2019 (FRS 102). 

A profit and improved cash flow has stabilised our financial position. We still need to build reserves following COVID and the effects of the postal strike. For the immediate future, the focus of management will be on reinvesting in growing the business. 

During the year we sold our property. A profit of £92,388 was realised from the sale of the building in the subsidiary. 

Greatest risks are the loss of charity members and partners and the loss of prime sites. Mitigation by constantly being in dialogue with members and charity partners, also sourcing new partners. We have changed to a three-year contract from one-year to provide greater continuity. Review of all sites and signing up with landlords/ hosts earlier in the season. 

Primarily the sale of Charity Christmas cards and gifts and to a lesser extent all year-round cards and gifts is a funding source to support the development of the objectives. 

Pension liability is negligible; less than £2k. 

Environmental issues are critical. Everything we produce is recyclable. Our charity partners are a broad range of medical, environmental and social charities. 

Assuming there is not a factor out of our control such as a pandemic or a further cost of living crisis, there is no reason to believe the business will not continue. 

## **Plans for future periods.** 

To continue to develop the market for 52-week trading and so reduce our reliance on the Christmas Card market using profits from each initiative to fund the next and so grow the business. This will give us the opportunity to develop our partnerships with our member and guest charities. 

3 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **Structure, Governance & Management** 

The Board of Trustees consists of a Chair, Treasurer, and trustees (up to four others). Ideally at least two of these should be representatives of our charity partners. 

The salary of the CEO and Finance Director are set by the Board. Advice is sought from the Board member of CFGC who has HR responsibilities. Comparisons from similar roles are taken to ensure correct level of pay, this may include our charity partners. 

Recruitment of new Trustees has generally been through internal communication with our partner charities. We have had to go externally to colleagues closely involved in the strategic development of the charity. 

The Board of Trustees meet with the CEO and Finance director on a regular basis and at least four times a year. Decisions are discussed in the meeting minutes and followed up. 

Induction of new Trustees will normally take the form of a face-to-face meeting with the Chair and CEO followed up by induction training with fellow Trustees 

## **Reserves policy and risk management** 

The reserves of the Group at 31 March 2023 amounted to £17,006 (2022: £6,143). Expenditure was incurred in the charity to promote public awareness of the member charities. The trustees have considered the risks to which the charity is exposed and have taken steps to mitigate these risks. 

The reserves held are currently £2.7k. This is a very small amount, and it is hoped to build this back to around £100k. 

Reserves need to be built, and this can be done by reviewing all costs, and negotiating better terms, and building sales. Loss making shops will be closed, and potentially more profitable sites found to replace them. 52-week trading is a key component to building reserves. 

## **Membership** 

The members of the charity at 31 March 2023 were as follows: Alzheimer’s Society Barnardo’s British Heart Foundation Cancer Research UK Diabetes UK Epilepsy Action Multiple Sclerosis Society National Autistic Society NSPCC Parkinson’s UK Perennial – Gardeners’ Royal Benevolent Society Queen Elizabeth’s Foundation for Disabled People Royal National Lifeboat Institution 

4 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of 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. 

## **STATEMENT AS TO DISCLOSURE OF INFOMRATION TO AUDITORS** 

So far as the trustees are aware, there is no relevant audit information of which the charity’s auditors are unaware, and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant audit information and to establish that the charity’s auditors are aware of that information. 

15 July 2024 

Approved by order of the board of trustees on …………….. and signed on its behalf by: 

................................................................. R A Monteath - Trustee 

5 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE 1959 GROUP OF CHARITIES** 

## **Opinion** 

We have audited the financial statements of The 1959 Group of Charities (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Statement of Financial Position, The Charity’s Statement of Financial Position, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

## In our opinion the financial statements: 

- give a true and fair view of the state of the group's, and the charities affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 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 group's and 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 this gives rise to a material misstatement in the financial statements themselves. 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. 

6 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE 1959 GROUP OF CHARITIES** 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- The information given in the report of the trustees 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 and returns; or 

- We have not received all the information and explanations we require for our audit 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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. 

In preparing the financial statements, the trustees are responsible for assessing the group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

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 a Report of the Independent Auditors 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. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## **Identifying and assessing potential risks related to irregularities** 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following: 

- the nature of the industry and sector, control environment and business performance; 

- results of our enquiries of management about their own identification and assessment of the risks of irregularities; 

- any matters we identified having made enquiries of management about their policies and procedures relating to: 

- identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of noncompliance; 

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; 

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; 

- - the matters discussed among the audit engagement team and involving relevant internal specialists, including tax regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. 

We also obtained an understanding of the legal and regulatory frameworks that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation. 

7 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group ability to operate or to avoid a material penalty. 

## **Audit response to risks identified** 

As a result of performing the above, our procedures to respond to risks identified included the following: 

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; 

- enquiring of management concerning actual and potential litigation and claims; 

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- reading minutes of meetings of those charged with governance; and 

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the rationale of any significant transactions that are unusual or outside the normal course of business. 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the group's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the group's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and the group's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


Elizabeth Horton ACA FCCA (Senior Statutory Auditor) for and on behalf of Seymour Taylor Limited, Statutory Auditor First Floor North 40 Oxford Road High Wycombe Buckinghamshire HP11 2EE 

15 July 2024 Date: ……………….. 

8 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>Other trading activities<br>Investment income<br>3<br>**Total**<br>**EXPENDITURE ON**<br>Charitable activities<br>4<br>Other trading activities<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**<br>**TOTAL NET INCOME/(EXPENDITURE) ATTRITUABLE TO:**<br>Parent charity<br>Non-controlling interests||2023<br>Unrestricted<br>fund<br>£<br>24,159<br>1,804,557<br>142,418<br>1,871,134<br>27,648<br>1,832,624<br>1,860,272<br>10,862<br>6,144<br>17,006<br>3,730<br>7,132<br>10,862||2022<br>Total<br>funds<br>£<br>36,200<br>-<br>1,519<br>37,719<br>112,308<br>-<br>112,308<br>(74,589)<br>80,733<br>6,144<br>(74,589)<br>-<br>(74,589)|
|---|---|---|---|---|
||||||
||||||
||||||



9 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 MARCH 2023** 

|2023<br>Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Intangible assets<br>8<br>-<br>Tangible assets<br>9<br>3,073<br>Investments<br>10<br>-<br>3,073<br>**CURRENT ASSETS**<br>Stocks<br>11<br>138,812<br>Debtors<br>12<br>51,904<br>Cash at bank<br>303,075<br>493,791<br>**CREDITORS**<br>Amounts falling due within one year<br>13<br>(443,917)<br>**NET CURRENT ASSETS**<br>49,874<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>52,947<br>**CREDITORS**<br>Amounts falling due after more than one year 14<br>(35,941)<br>**NET ASSETS**<br>17,006<br>**FUNDS**<br>16<br>Unrestricted funds<br>9,874<br>Non-controlling interest<br>7,132<br>**TOTAL FUNDS**<br>17,006|2022<br>Total<br>funds<br>£<br>-<br>-<br>1<br>1<br>-<br>-<br>6,815<br>6,815<br>(672)<br>6,143<br>6,144<br>-<br>6,144<br>6,144<br>-<br>6,144|
|---|---|



15 July 2024 

The financial statements were approved by the Board of Trustees and authorised for issue on ……………… and were signed on its behalf by: 

............................................. 

R A Monteath - Trustee 

10 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **CHARITY STATEMENT OF FINANCIAL POSITION 31 MARCH 2023** 

|2023<br>Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Investments<br>10<br>1<br>1<br>**CURRENT ASSETS**<br>Debtors<br>12<br>5,401<br>Cash at bank<br>23,516<br>28,917<br>**CREDITORS**<br>Amounts falling due within one year<br>13<br>(26,176)<br>**NET CURRENT ASSETS**<br>2,741<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>2,742<br>**NET ASSETS**<br>2,742<br>**FUNDS**<br>16<br>Unrestricted funds<br>2,742<br>**TOTAL FUNDS**<br>2,742|2022<br>Total<br>funds<br>£<br>1<br>1<br>-<br>6,815<br>6,815<br>(672)<br>6,143<br>6,144<br>6,144<br>6,144<br>6,144|
|---|---|



15 July 2024 

The financial statements were approved by the Board of Trustees and authorised for issue on ……………… and were signed on its behalf by: 

............................................. 

R A Monteath - Trustee 

11 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Tax paid<br>Net cash provided by/(used in) operating activities<br>**Cash flows from investing activities**<br>Acquisition of a subsidiary, net of cash acquired<br>Cash acquired from subsidiary<br>Fixed assets acquired on acquisition<br>Purchased fixed assets<br>Proceeds from sale of property<br>Interest received<br>Net cash provided by investing activities<br>**Cash flows from financing activities**<br>Debt acquired from subsidiary<br> <br>Repayment of bank loan<br> <br>Net cash provided by financing activities<br> <br>**Change in cash and cash equivalents**<br>**in the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end**<br>**of the reporting period**|2023<br>£<br>238,448<br>-<br>238,448<br>(631,446)<br>652,612<br>(222,443)<br>(1,416)<br>214,477<br>86<br>11,870<br>50,000<br>(4,058)<br>45,942<br>296,260<br>6,815<br>303,075|2022<br>£<br>(4,030)<br>-<br>(4,030)<br>-<br>-<br>-<br>-<br>-<br>1,519<br>1,519<br>-<br>-<br>5,549<br>1,266<br>6,815|
|---|---|---|



12 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**Net income/(expenditure) for the reporting period (as per the**<br>**Statement of Financial Activities)**<br>**Adjustments for:**<br>Interest received<br>Amortisation of negative goodwill<br>Loss on disposal<br>Depreciation of tangible assets<br>Increase in stocks<br>Increase in debtors<br>Increase in creditors<br>**Net cash provided by/(used in) operations**|2023<br>£<br>10,862<br>(86)<br>(21,166)<br>(325)<br>6,634<br>(138,812)<br>(51,904)<br>433,245<br>238,448|2022<br>£<br>(74,589)<br>(1,519)<br>-<br>-<br>-<br>-<br>79,466<br>672<br>(4,030)|
|---|---|---|



## **2. ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1.4.22|Cash flow|At 31.3.23|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|6,815|296,260|303,075|
|Debt due within one year|-|(10,000)|(10,000)|
|Debt due over one year|-|(35,941)|(35,941)|
|**otal**|6,815|250,319|257,134|



## **Total** 

13 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

**THE 1959 GROUP OF CHARITIES** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. 

The presentation currency for the financial statements is the Pound Sterling (£). 

Since early 2020 the consequences of the COVID-19 outbreak followed by postal strikes have adversely affected the demand for the subsidiary’s primary products. Therefore, its operating results have been negatively impacted. 

The subsidiary has made significant changes to the way they operate, management strategy and operational costs since the start of 2022. The Directors and Trustees have carried out 'stress testing' of forecasts and cashflow into 2024. In the current year turnover has increased and the property was sold and warehousing outsourced, at the 31 March 2023 the company has net current assets of £47,133. 

The Directors and Trustees believe that, with current levels of trading and arrangements in place with creditor's, the company continues to be a going concern and the financial statements are prepared on this basis. 

The Directors and Trustees have assessed expected future cashflows, giving due consideration to all relevant factors affecting the group. They have considered potential impacts, on the group as well as its capital resources and believe that the group has adequate resources in place to continue in operation for at least twelve months from the date of approval of the financial statements. Consequently, the group continues to adopt the going concern basis in preparing these financial statements. 

## **Basis of Consolidation** 

The consolidated financial statements incorporate the financial statements of the charity and of its subsidiary undertaking at the year-end date. 

## **Critical accounting judgements and key sources of estimation uncertainty** 

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

The areas for which estimation has been applied are considered to be in calculating depreciation and provisions. Although these areas are subject to judgement, they are not considered to be subject to significant estimation. 

14 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

**THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. 

Subscriptions and donations are dealt with on a cash basis. 

Interest and rent receivable are dealt with on an accrual’s basis. 

Legacies are credited to income when the charity is advised by the personal representative of an estate that payment will be made, or property transferred, and the amount involved can be quantified. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. 

## **Government grants** 

The company receives government grants in respect of the Coronavirus Job Retention Scheme (CJRS). 

These grants are recognised using the accruals model at the fair value of the asset received or receivable when there is a reasonable assurance that the company will comply with conditions attached to them. 

## **Financial instruments** 

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements. 

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 

## **Debtors and creditors due within one year** 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses. 

## **Pension costs and other post-retirement benefits** 

The company operates defined contribution and funded multi-employer defined benefit pension schemes on behalf of certain employees. Contributions payable to the company’s pension schemes are charged to profit or loss in the period to which they relate, 

## **Holiday pay accrual** 

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial Position date and carried forward to future periods. This is measured at the undiscounted salary cost of future holiday entitlement so accrued at the Statement of Financial activities. 

## **Goodwill** 

Negative goodwill arises on acquisition if the cost is less than fair value of the net assets acquired. Negative goodwill is fully amortised in the year of acquisition. 

15 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **Tangible fixed assets** 

Tangible fixed assets are stated at less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. 

The company assesses at each reporting date whether tangible fixed assets are impaired. 

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimate useful life: 

Computer equipment 

- straight line – 20% and 33.3% 

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits. 

## **Stocks** 

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out principle. 

Work in progress is valued on the basis of direct costs plus attributable overheads based on a normal level of activity. 

## **Taxation** 

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. 

Current or deferred taxation assets and liabilities are not discounted. 

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. 

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those un which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

16 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **2. DONATIONS AND LEGACIES** 

|Donations<br>Gift aid<br>Subscriptions<br>Legacies<br>**3.**<br>**INVESTMENT INCOME**<br>Interest receivable<br>Goodwill on acquisition of subsidiary<br>**4.**<br>**CHARITABLE ACTIVITIES**<br>**Raising donations and legacies**|2023<br>£<br>18,724<br>5,315<br>120<br>-<br>24,159<br>2023<br>£<br>86<br>42,332<br>42,418||2022<br>£<br>17,905<br>-<br>160<br>18,135<br>36,200<br>2022<br>£<br>1,519<br>-<br>1,519|
|---|---|---|---|
|||||
|||||
|||||
||2023||2022|
||£||£|
|Wages|19,101|109,503<br>-<br>2,805<br>112,308<br>2022<br>£<br>109,503<br>-<br>-<br>109,503<br>2022<br>11||
|<br>Sundry expenses|102|||
|||||
|**Governance costs**||||
|Accountancy and legal fees|8,445|||
|**5.**<br>**STAFF COSTS**<br>Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:||||
||27,648|||
||2023<br>£<br>569,163<br>32,554<br>9,316<br>611,033<br>2023<br>35|||



No employees received emoluments in excess of £60,000. 

17 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

**THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **6. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **7. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

|Auditors' remuneration<br>Auditors’ remuneration – Independent examination<br>Depreciation<br>Goodwill amortisation<br>|2023<br>£<br>19,000<br>-<br>6,634<br>(21,166)|2022<br>£<br>-<br>625<br>-<br>-|
|---|---|---|



## **8. INTANGIBLE FIXED ASSETS** 

## **Group** 

|**COST**<br>Acquisition of subsidiary<br>**AMORTISATION**<br>Amortisation for year<br> <br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022|Goodwill<br>£<br>(21,166)<br> 21,166<br>-<br>-|
|---|---|



## **Charity** 

The charity has no intangible assets. 

18 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **9. TANGIBLE FIXED ASSETS** 

## **Group** 

|**VALUATION**<br>At 31 March 2022<br>Additions<br>Acquisition of subsidiary undertaking<br>Revaluation<br>Disposals<br>At 31 March 2023<br>**DEPRECIATION**<br>At 31 March 2022<br>Charge for the year<br>Acquisition of subsidiary undertaking<br>Eliminated on disposal<br>At 31 March 2023<br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022|Short<br>leasehold<br>Computer<br>equipment<br>£<br>£<br>-<br>-<br>-<br>1,416<br>214,356<br>52,512<br>-<br>-<br>(214,356)<br>(23,111)<br>-<br>30,817<br>-<br>-<br>605<br>6,029<br>-<br>44,425<br>(605)<br>(22,710)<br>-<br>27,744<br>-<br>3,073<br>-<br>-|Totals<br>£<br>-<br>1,416<br>266,868<br>-<br>(237,467)<br>30,817<br>-<br>6,634<br>44,425<br>(23,315)<br>27,744<br>3,073<br>-|
|---|---|---|



## **Charity** 

The charity has no tangible assets. 

19 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

**THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **10. FIXED ASSET INVESTMENTS** 

## **Group** 

The group has no fixed asset investments 

## **Acquisition of subsidiary** 

During the year to 31 March 2023 the Charity became the majority shareholder in Cards for Good Causes Limited, due to the transfer of shares from other shareholding Charities. Cards for Good Causes Limited had been under the control of the Charity for the full year and therefore the assets have been included in this consolidated from the 1 April 2022. 

The assets and liabilities of Cards for Good Causes Limited have been included in the group’s balance sheet at fair value at the date of acquisition. 

The net assets of the acquired enterprises as of the date of acquisition were: 

|Tangible fixed assets<br>Stocks<br>Debtors<br>Cash<br>Creditors<br>Net assets<br>Acquisition of non-controlling interest<br>Goodwill arising on acquisition<br>Fair value of consideration|Book value<br>£<br>132,091<br>130,029<br>57,179<br>652,612<br>(1,020,052)<br>(43,141)|Fair<br>value<br>adjustment<br>£<br>90,473<br>(90,473)|Total<br>£<br>222,564<br>130,029<br>57,179<br>652,612<br>(1,020,052)<br>42,332<br>(21,166)<br>(21,166)<br>-|
|---|---|---|---|



20 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **11. STOCKS** 

|Stocks|**Group**<br>2023<br>2022<br>£<br>£<br>138,812<br>-<br>138,812<br>-|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>-<br>-|
|---|---|---|



## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade debtors<br>Other debtors<br>Prepayments and accrued income|**Group**<br>2023<br>2022<br>£<br>£<br>38,070<br>-<br>7,674<br>-<br>6,160<br>-<br>51,904<br>-|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>5,401<br>-<br>-<br>-<br>5,401<br>-|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>5,401<br>-<br>-<br>-<br>5,401<br>-|
|---|---|---|---|
||||-|



## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Bank loans and overdrafts<br>Trade creditors<br>Taxation and social security<br>Other creditors<br>Amounts owed to group undertakings|**Group**<br>2023<br>2022<br>£<br>£<br>10,000<br>-<br>93,609<br>-<br>172,836<br>-<br>51,825<br>-<br>115,647<br>672<br>443,917<br>672|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>26,176<br>672<br>26,176<br>672|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>26,176<br>672<br>26,176<br>672|
|---|---|---|---|
||||672|



## **14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** 

|Bank loans (see note 14)|**Group**<br>2023<br>2022<br>£<br>£<br>35,941<br>-<br>35,941<br>-|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>-<br>-|**Charity**<br>2023<br>2022<br>£<br>£<br>-<br>-<br>-<br>-|
|---|---|---|---|
||||-|



21 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **15. LOANS** 

|An analysis of the maturity of loans is given below:<br>Amounts falling due within one year or on demand:<br>Bank Loans<br>Amounts falling due between one and two years:<br>Bank Loans – 1-2 years<br>Amounts falling due between two and five years:<br>Bank Loans – 2-5 years|31.3.23<br>31.3.22<br>£<br>£<br>10,000<br>10,000<br>10,000<br>10,000<br>25,941<br>30,000|
|---|---|



The above loan was received under the Bounce Back Loan scheme. It has an interest rate of 2.5% per annum. 

## **16. MOVEMENT IN FUNDS** 

## **Unrestricted funds** 

|<br>Unrestricted funds<br>General fund<br>Non-controlling interest<br>**TOTAL FUNDS**|Net<br>Acquisition of<br>At<br>Movement   non-controlling<br>1.4.22<br>In funds<br>interest<br> <br>£<br>£<br>£<br>6,144<br>3,730<br>-<br>-<br>(14,034)<br>21,166<br>6,144<br> (10,304)<br>21,166|At<br>31.3.23<br>£<br>9,874<br>7,132|
|---|---|---|
|||17,006|



Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|24,245|(13,383)|(10,862)|
|**TOTAL FUNDS**|24,245|(13,383)|(10,862)|



22 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **Comparatives for movement in funds** 

|At 1.4.21<br>£<br>**Unrestricted funds**<br>General fund<br>80,733<br>**TOTAL FUNDS**<br>80,733<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>37,719<br>**TOTAL FUNDS**<br>37,719|Net<br>movement<br>At<br>in funds<br>31.3.22<br>£<br>£<br>(74,589)<br>6,144<br>(74,589)<br>6,144<br> <br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(112,308)<br>(74,589)<br>(112,308)<br>(74,589)|
|---|---|



## **17. PENSION COMMITMENTS** 

The group operates a defined contribution scheme with contributions paid in the accounting period charged to the profit and loss account. The pension cost charge represents contributions payable by the group to the fund and amounted to £9,316 (2022 - £12,841). 

## **Defined Benefit scheme** 

The group participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme. 

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. 

The scheme is classified as a 'last-man standing arrangement'. Therefore, the group is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. 

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme from 1 April 2022 to 31 January 2025 £3,312,000 per annum. Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies. 

23 



Docusign Envelope ID: 24D760B8-F2AF-48A5-95E9-786C0F2396D6 

## **THE 1959 GROUP OF CHARITIES** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. 

Where the scheme is in deficit and where the group has agreed to a deficit funding arrangement the group recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. 

The amount due by Cards for Good Causes Limited into the scheme at 31 March 2023 was £1,024, this is included in creditors and contributions have been made in line with the plan above. 

## **18. RRELATED PARTY DISCLOSURES** 

Two of the trustees of the 1959 Group of Charites are also directors of Cards for Good Causes Limited, a company under control of the charity. 

Cards for Good Causes Limited collected monies on behalf of the member charities during the year, at the year-end there was a balance due to other member group charities of £115,646. 

24