Eton Artion Registered Charity NufflbÈr 258247 Annual report and financial statements for the year ended 31 December 2023
Eton Action For the year ended 31 December 2023 Contents Page Trustees, report Independeni examinerfs report Statefllent of financial activities Balance sheet Cash flow statement Notes to the financial 5talernents 9-12
Eton Action Trustees, report for the year ended 31 December 2023 The trustees present their report and the financial statements for the year ended 31 December 2023 for Eton Artion (charity number 2582471. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 and 10 therein and comply with the Charity's Trust Deed. applicable laws and the requiiement5 of FRS 102, Charities SORP IFRS 1021 and Charities Act 2011. There have been no chan8e5 in the policie5 adopted by the charity during the year. Structure, governance and management Status and administration Eton Attion was founded as a charity regulated under a Trust Deed dated 1968. Eton Action 15 registered as an unincorporated charity in England and Wale5 under the Charity Commission reference number 258247. The trustees are responsible for the administration and decisions of Eton Action in accordan with the Trust Deed. Trustees The trustee5 who served throughout the year and subsequently are Shown below.. T Arbuthnott A Henderson Mr Peter McKee A M Miles (resigned 31, December 20231 Lady Waldegrave OBE Key mana8ement personnel Treasurer Princrpal address Eton College, Eton, Wind50r. Berks SL4 6DW. Bankers Barclays Bank PLC, One Churchill Place. Canary Wharf. E14 5HP. Independent Examiner Crowe U.K. LLP, 5S Ludgate Hill. London. EC4M 7JW. Sollcitors Charles Russell Speechleys. 5 Fleet Place, London, EC4M 7RD. The truslees are responsible for the administration and decision5 of Eton Action tn accordance with the Trust Deed. An executive committee appoirbted by the trusiees manages the charity on a day-to-day basis. The charity is run primarily by boys.. a boy committee of house representatives run thè charity under the guidance of the executive committee. The trustees are appointed in accordance wilh theTrust Deed. Appointment is made at a meeting convened and held according to the ordinary practice of the Council. New trustees are provided with a copy of The Charity Commission Guidance manual CC3 The Essential Trustee". What you need to know.
Eton Artion Trustees, report for the year ended 31 December 2023 (continued) Object5 and activities The charit¥Ks objerts are.. lal The advancement and support of worldwide charitable project5. Ibl To encourage and support Ettrnians. past. present and future. to raise money for charitable purposes. Icl To administer and distribute funds in accoidance with the terms of the 1968 Trust Deed. The main charitable objettive is io promote charitable activity among boys. The financial objective 15 to raise money 5UPPOrt of other tharities. adivities. The trustees have adopted the accounting policies recommended in the Charbties SORP IFRS 1021. The trustees confirm that they have referred to the guidance contained in the Charity Cornmi55ion's general guidance on public benefit when reviewing the trusys aims and objectives and in planning future activities. Donations Donation5 are made in accordance with the charitvs objectives. At an annual meeting in February the committee select a shortli5t of charities to SUPPOrt for the coming year. from applications and good causes proposed by Eton pupils. The chosen causes are then subject to a vote by the pupils. The total arnounts collected in the year are distributed evenly amongst the five chosen charities. There is a pro8ramme of annual fundraising events throughout the School year, occasionally ad hoc events may take place for specific cause5, these events and causes are usually decided by the pupils of Eton College and then pproved by a trustee. Volunteers Pupi15 and staff at Eton College volunteer at fundraising èvents. Key management personnel are also volunteer5. Achievements and performance Eton Attion continues to be grateful for all don31ions received throughout the year. Unfortunately, in 2022. the annual tommunity fair was unable to take place due to funeral of HM Queen Eliiabeih 11, the fair took place in March 2023 instead In 2023 the deferred fatr held in thè Spring raised £30,630 The Autumn fair raised £30,580. In 2021 the fair raised £30,465. The Eton Action 'mufti' day raised £3,13512022: £3.1641 for Slough Mencap. The boys and staff pay a small fee to attend school in informal dress. Pupils are involved in each event thai is held by Eton Artion. It Is a good opportunity to promote philanthropv nd for the boys to use their energy to raise as much money a5 possible to be donated to good causes.
Eton Artion Trustees, report for the year ended 31 December 2023 (continued) Financial review The Statement of Financial Activitie5 show5 the results for Elon Aclion. Net income is £5.27212021'. £2,165), as shown on page 6. In March 2022 the Eton College community, through Eton Action. supported the UNICEF Ukraine Appeèl and raised over £30.000. Durin@ 2023 an additional £4,363 was raised for this cause. Reserves policy Unrestrlcted funds Unrestricted funds which, at 31 December 2023, amounted to £15.78812022.' £10,516) have not been restricted to a particular purpose by the donors. The unrestficted funds comprise the general fund which is the working fund of the charity. It is not tied or designated for use for a particular or defined purpose. The unrestricted funds can be spent on any charit3ble purpose in atcord3ntè with the objects of the tharity as the trustees see fit. The unrestricted fund must provide for the net deficit of any activitie5 that have inadequate income of their own and for the general administration of ihe charity. It also provides working capital for operations and helps to provide re50urce5 to ensuTe that the charity can continue with its obligations in the event of a shortfall in income or unexpected upturn in expendituie. The trustees aim to keep a minimal level of reserves as all r3i5ed funds are donated as soon 35 possible. The level of reserves is considered adequate for the charity to continue operating for the fore5eeablÈ future. Risk assessment The major risks to which the charity 15 exposed. as identified by the trustees. have been reviewed and systems and controls have been established to mitigate these risks. Future Plans The charity's future plans include running the annual events listed above and continuing to support charitable causes, whi15t encoura@in8 Eton pupils. personal development. Going concern The trustee5 have a reasonable expectation that the charity has adequate resource5 to continue in operational existence fc*r the foreseeable future. No material uncertainties in relation to the ability of the charity to continue on a going coricern basis have been identified by the trustees. Thus, Ihey continue to adopt the going concern basis of accounling in preparing the financial statements. Trustees. Responsibilities Statement The trustees are responsible for preparing the Trustees. Annual Report and the financial st3tements in accordance with applicable law and United Kingdom Generally ACpted Accounting Pfattice (United Kingdom Accounting Standardsl.
Eton Action Trustees, report for the year ended 31 December 2023 (continued) Trustees, Responsibilities Statement (continued) The law applicable to charities in England and Wales requires the trustees io prepare financial statement5 for each financial year which give a true and fair view of the state of affair5 of the charity and of the incoming resources and application of resources of the charity for that period. Irb preparing these financial staternent5, the trustees are required to= selert 5Ult3ble accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP.. make judgements and estimates that are reasonable and prudent.. state whether applicable United Kingdom Accounting Standards have been followed. subject to any material departures disclosed and explained irb the accounts," and prepare the financial statements on the going concern basis unless it ts inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting CordS that disclose with reasonable accuracy at any time thè financial position of thè charity and Ènable them to ensure that the finèncial statement5 complv with the Charities Act 2011. the Charity (Accounts and Report51 Regulations 2(N)8 and the provisions of the Trust Oeed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deteuion of fraud and other irregularitie5. y order of the trustees T Arbuthnott Trustee Date.. ,1,.)*
Eton Action Independent examiner's report to the Trustees of Eton Action I report to the trustees on my examination of the accounts of Eton Artion (the Trustl for the year ended 31 December 2023, which are set out on pages 6 to 12. This report is made solely to the charivs trustÈe5. as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the charitV'5 trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the charity, the charity's members as a body and the tharivs trustee5 a5 a body for my independent examinerfs work. for this report. or for the opinions I have foimed. Responsibilities and ba515 of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.the ACVI. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Direttions given by the Charity Commission under section 14515llbl of the Act. Independent èxaminerfs statemènt I have completed my examination. I confirrn that no material matter5 have corne to my attention in connection with the exarnination givin8 me cause to belÉeve that in any material respect.. accounting records were not kepl in respect of the Trust as required by section 130 of the Act- or the accounts do not accord with those records- or Ihe attounts do not comply with the applicable requirements concerning the form and content of account5 Set out in the Charitie5 (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts give a'true and fair viev/ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connertion with the examination to which attention should be drawn in this ieport in ordei to enable a proper understanding of the accounts to be reached. na M Allison FCCA Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW Date.. 25 October 2024
Eton Action Statement of financial activities for the year ended 31 December 2023 Total Total Unresiricted Unrestricted Fund5 Funds 2023 2022 Notes Income from Donation5 %.135 99,533 Other trading activities 14.425 664 Total income 110.560 ICKJ,197 Expenditure Other trading activities 13.5471 12781 Charitable activities 1101.7411 197,7541 Total expenditure 1105.2881 198.0321 Net income and net movement In funds 5.272 2.165 Reconclllatlon of funds.. Total funds brought forward 10.516 8,351 Total funds carried forward 15.788 10,516 The notes on pages 9 10 12 form part of these financial statements.
Eton Action Balance sheet as at 31 December 2023 2023 2022 Notès Current assets Cash 31 bank and in hand 48,146 77.115 Total current assets 48,146 77.115 abilities Creditors- amounts falling due within one year 132,3581 166.5991 Net current assets 15,788 10,516 Total net assets 15,788 10,516 Funds of the charitv.. Unrestrirted funds General fund 15.788 10.516 Total funds 15,788 10.516 The accounts of Eton Aclion set out on pages 6 to 12 were authorised for issue and app¥oved by the trustees on 16, Octc*ber 2024 and signed on their behalf by.. T Arbuthnott Trustee
Eton Action Cash Flow Statement for the year ended 31 December 2023 Notes 2023 2022 Cash flow5 from operating activities Net cash provided by operating activities/lu5ed inl io 128,9691 4,528 Change in cash and Cash equl¥alents In the year 128,%91 4.528 Cash and cash equivalents at the beginning of ihe year 77.115 72.587 Cash and cash equivalents at the ènd of the year 48,146 77,115 The notes on pages 9 to 12 form part of these fin3ncial statements.
Eton Action Notes to the financial statements for the year ended 31 December 2023 Charity Information Eton Action is a charity registered with the Charity Commission in England and Wale5, tharity number 258247. The addre55 of ttr>e registered office 15 Elon College, Eton. Windsor. Berkshire Sl4 6D8. Accounting policies B3515 of accounting The financial 5taternent5 have been prepared in accordance wÈth the Charities SORP IFRS1021 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of lleland and the Charities Act 2011 and the UK Generally Accepted Practice. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulation5 2CM18 orbly to the extent required to provide a 'true and fair view,. This departure has involved followine Accounting and Reporting by Charities preparing their accounts in accordance with the Financial ReportinÈ Standaid applicable in the UK and Republicof Ireland IFRS 1021 issued on 16July 2014 rather than the Accountin8 and Reporting by Charitie5= Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. Eton Action meets the definition of a public benefit entity under FRS 102. A55et5 and liabilitie5 are initially recognised at historital cost or transaction value unle55 Otherwise stated in the relev3nt accounting policy note5. Going Concem The trustees have a reasonable expectation that the charity has adeouate restsurces to continue in operational existence for the foreseeable future. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the trusiees. Thus. they cot)tinue to adopt the eoing concern basis of accounting in preparin8 the fin3ncial statements. Income All income is recognised once the charity has entitlement to the incorne, it is probable that the income will be rèceived and the amount of income reteiv3ble can be measured reliabty. Donations are reco8nised on receipt unle55 Eton Artion ha5 been notified in writing of both the arnount and settlement date. other trading activities include income generated throuEh fundraising events hosted by Eton Action and income 15 recogni5ed on a receipts basis. Expendlture All expenditure is accounted for in the Statement of Financial Activities ITh ihe period to which the cost relates. Expenditure is classified irbto expense c3teBories based on the nature of the c05t incurred. Donations are accounted for in the period in which they are made or once the donation has been communicated to a third pafty. The policy for making donations is detailed in the Trustees. report. Governance costs Governance costs comprise all cost5 identified as wholly or mainly attribuiable to ensurin8 public accountability of the charity and its cornpliance with regulation. being external audit costs. These costs have been met by Eton College, and are not re-charged.
Eton Action Notes to the financial statements for the year ended 31 December 2023 (continued) Flnanclal Instruments Eton Action ha5 financial assets and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financial instruments are inittally recognised at transaction value and subsequently mea5ufed at amortlsed c05t. Financial assets held at amortised cost comprise cash at bank and in hand. together with accrued income. Financial liabilities held at amortised cost comprise donations payable. Funds Unrestricted funds can be spent on any charitable purpose in accordance with the objects of the charity at the discretion of the trustees. Key estimates and judgement5 In the application of Eton Action's accounting policies, which are described. trustees are required to make judgements, estimates. and assumptions about the carrying values of assets and liabilitie5 that are not readilv apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment io their carrying amounts in the next fin3n¢ial year. Analysis of income 2023 2022 Fair takings 67,210 2.410 Mufti day 3,135 3.164 Sponsored events 23,543 46,526 Ukraine Appeal 4.363 37,296 House Event5 3.886 6,163 Other 8.423 4,638 Income from trading activities 110.560 100,197 10
Eton Action Notes to the financial statements for the year ended 31 December 2023 (continued) Analysis of expenditure The donations made in 2023 are detailed below= 2023 Save the Children 12,393 The Hands Up Foundation .937 BBOWT 7,420 Oscar Foundation 6,773 The Trussell Trust 6,773 Fulham 8oat Club 6,773 Dusty Yak 6,773 Windsor Food Share 5,926 ABC to Read 5,926 Action Cerebral Palsy 5.926 Siobhan'5 Tru51 5,926 Alzheimers Research 5,926 other 16.269 Total 101,741 Independent examiner fee is paid by Eton College and is not induded in expenditure for Eton Action. Trustees and employees Eton Action has no staff. None of the trustees received any remuneration or expen5e5 during the year12022'. Enill,. however, all of the trustees were remunerated by Eton College for services excluding those in their capacity as trustee.
Eton Action Notes to the financial statements for the year ended 31 December 2023 (continued) Creditors- amounts falling due within one year 2023 2022 Donations Payable 32,358 59,189 Other creditors 7,410 32.358 66,599 Unrestricted income funds 2023 2022 At l January 10,516 8.351 Net movement in the year 5,272 2,165 At 31 December 15,788 10,516 Analysis of net assets between funds All the funds of Eton Action are unrestricted. Related party transartions All of the trustees were employees of Eton College during the current and prior year and were remunerated by the College other than in a capacity as trustee. Eton College pupils and staff founded and run Eton Action. The Eton Action independent examiners fee of £1.5 excluding VAT12022= £9501 1% borne by Eton College and is not recharged. 10 Reconciliation of net income to net cash flow from operating activities 2023 2022 Net expenditure as per Statement of Financial Activities 5.272 2,165 Adjustments for.. Decrease in debtors Increaselldecreasel in creditors Net cash provided byl (used inl operating activitie5 134,2411 2.363 128,9691 4,528 12