FELIX FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 REGISTEREO CHARITY No. 267305 BDB PITMANS Re9Sstered Olltce 4fyosvwSgu8 Gros*w S)v• C81 2JH Rth1ifV, RG1 2LV Sothamplon, SO15 28E OX 331 Cantsty24 DX 146420 Readw 21 DX W16 3 T +44 {01345 222 9222 Ww¥Rw bwwts.cc don EC1A 7BL DX 339401 Wl
FEUX FOUhlDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 CONTENTS Page REPORT OF THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTIMTIES BALANCE SHEET NOTES TO THE FINANCWL STATEMENTS
FELIX FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 The Trustees are FAeased to present their annual Trustees, ieprxt togetw wth Ihe finaal staternents of the tharrty lor the year ended 5 Awl 2024 REFERENCE AND ADMINISTRATIVE DETAILS Full name. FelL¥ Foundat Registered Charity number. 267X Prinrypal address BD8 Prtrnans LLP One Barthdomew Close London EC1A 78L Tru5tees' Mr F Appeltr Mrs V Thornas Di L Hobby Mr A Appelbe Mr W Thomas (Appoinled 21 February 20231 Independent Exatniner. Mrs Julia Strike TEP One Barth(Aornew Close EC1A 7BL STRUCTURE, GOVERNANCE AND NAGEMENT Governing document Tre Chanty is controlled by rts 9)verning a de&J of Irust dated 17 March 1. and conststutes an unincorFK)red Chanty. Appolntment of Tnjstees and Trustee Induction and training Trustees are appointed by deed New Trustees are trffl'efed on their le9al oblvJations urKlei chanty law. the Charty Cornrnis5ion guidaTr on benefit. inlomied of ts contents of the deed. decisi-MakIng Fxoces5es and nt IinarKial perfomiarrE of ts Chanty Before ting C the rde they meet key advssors and other Trustees Trustees are enctsjiaged to attend appr(wate extemal training events these wll fa(ilrtate the undertaking of th8r rde Mr W Thomas was apwnled to ad In the year. Risk Managemènt The Trustees recognise that they have a duty to idenb.fy and review nsl(s to the Chanty Is exposed and to ensure appropriate contrds are in to provide feasonatAe assurance against fraud and error The Tmstees have tsidered main a3$ ol ask and are ol t1 OnIOn that the Charity ha5 the resouS that. under normd conditK)n5 V+Duld alhyw these risks to be mibgated to an 3Ptab levd in its day-tfrday operab"ons. OBJECTIVES AND ACTIVITIES The Charty Wds created by deed of tru51 daied 17 Marth 1 and exists to benefit sh legalty charitaNe i*)jeGts as the Trustees at their discretion selecl The Trustees cA)nsider applications for grants at mrj$ arKI genwalty thrc¥yJlKMJt the year Paje 1
FEUX FOUNDATSON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 l¢onLI Public Benefit Statement The Trusiees have referred to the Charty Comrnissn'S gera1 guidance on pu1¢ benefit when viwng the Trust's aims and obJeclNes arKJ in planning future activitEs and dec4ding on the grants for the year. The Chanty's objects are f(x the public Inefit. TtK)se objects are achieved by virtue ol the grants m&e by the Trustee5 to Chynbes In EnsdaTrJ and wa arKI to iThYivKJuas to assist wth their eduo3tK)n ACHIEVEMENTS AND PERFORMANCE The Trustees rnel on variojs OCG3gOllS to c51 tr charitys athvities and achievements during the year The charitable (Jonalk)ns agreed. 15 grant5 wpre made durirKJ the yew 12023". 15 grants), rangng from £200 to £5.rKo and the totJ is Sh In note 2 to tt)e5e aclxiunts The Trust Funds fl¢J in Investrnents and cash. Irthne for year. in Ihe forrn ol dividend5 8nd Interest, amunle¢ to £3C>,41912023". £29.5361. market value ol tt Investments at the date of the Balance Sheet vrds £524.27512023 £529,649) Trustee5 fK)tgA fall In value of the InvestrnentS The Trustees are aware of the econcNnic sIS and the war in Ukraine and the orwryng Impacl they could have on the investments and th•'r values the incx)rne an51ng frcrfn those investments The Charrty Is Invested for the teim and Ihe trustees will Contin to rnOnst the Investments and their FINANCIAL REVIEW Charitable Expenditu The 2024 Grants totalled £25.7CQ12023". £20.51. Other ExpEnditure EXpendrtU rdab.ng to the management. aJmintstrth"c and WVeMan ol the Charity, amounted to £4,23912023". £3,558). less than 1% of the vakje of thanty at 5 Aw"12024. Investment Pollcy and Performar The Trustees have an Investment FJlfiAio wilh M&G cA%nstng shares in tt*ir Steding Charifund, wth units held in both their Income and Ac[ula fuThJs. The investment In ihese lund5 offers the trustees the right of raprtal grty•th and Irwne to meet thr and Is actively managed by M&G direct. The Trustees monilor Ihe Ferfomiarte at th8r meetirvJs and vknen quarterly repwts are reived. The investment FKXtfdio sho•Ed an decrease in market value over the peti(xl. wth unrealised losses of £6.32912023." £32.2291 Thwe here rKJ realised gains Ios5es12023 re}. Restr¥es poli and goirvJ concem The Trustee5 aim to Use the irtome ansing dunrKJ e&h year for grants. If there Is 5nsufficient annual Incune In the year, expendatAe end(MThent Is used to make the shortfall. li is Th)t envisaged that there wll be future comrnitments Ihat eXd fuiuie in(xJme on an annual basis therefore the trustees are haFPY %4ith the current reserve level The Trustees a of Ihe wew that the Trust is a going tCern. Exemptions from Disclosure There a no exernpb.ons fiotn thsdosuie. Page 2
FEUX FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 IconL) Law applicable to tthatibes in EfigLA & wa requires tr Trustees to prepare finanaal statements for each finanoal year %Ich give a tnJe and fair view of the thanty's finawal adivities during the year and of Its IinanGal position at the end of the year In preparing finarKJal Statements g4ving a true and fair view, the Trustees should best prath arKI". . seleci surtatAe aCc(vtij Ove5 and then appty them cc¥)Sknty. - make jujgements ar¥J estimates that are reasonable ar¥J . state vthether appli(3tAe nrj StaTrJ¥ts aThJ ststements of recx)rnmended practs.ce have been folhy*ed. SLbJect to any departures disdosed explainetj In the finanoal staternents and", prepare the financial statements on the g(Mng c(xw basis unsS il is inappropriate to presume that the chanty 11 In operation Tfre Tnjstees are resw)&ble foi keen9 wJuntiThJ rdS (&5d05e wth 8$onab accxjracy the finanoal position of Chanty arKI M41Kh enatAe them to ensure that the financKal Statements CoMY wth appltsble law and regulati$ They are also resrx)nsible for Saf8rding the assets of the Charity and hen for takirKJ rèasonalAe steps fN the trfeveth.on and detection tsf fraud and other irregulantie5 Slgned on b•half of the trust. PaJe 3
FELIX FOUNDATION REPORT OF THE INDEPENDENT EXAMINER TO THE TrUSTEES IN RESPECT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 I report to the Truslees on my exarnination of the accounts of the Felix FOundatn for the year ended 5 April 2024 which are set out on pages 5 to 9. Re5ponsibilitles and basis of report As the charity trustees of the Trust you are responsible the preparabon of the accounls in accordance wilh the requirements of the Charities Act 2011 Ilhe Arfl_ I report in respect of rny examinatson of the Trusfs accounts (xrried oul undef section 145 tsf Ihe 2011 Act and In carrwng oul my exarninaiion I have folbwed all the applicable Directn9 gNen by the Charty Commi55ion under section 145151 Ibl of the Act. Ind•ptndent examinerfs ststement have completed my eXaminatn. I confimi that no material wnatt8r5 have corre lo my attention in connection ¥th the examination giving me cause to believe Ihat in any materh21 spect.. accounting records were not kept in respeL1 of Ihe Trust as required by section 130 of the Act., 01 2. the 8ccount5 do not accord wlh tlw)se re(x)rds.' or 3. the accounts (Jo not compty th Ihe applble reqU1ments conceffling the form and content of the accounts set out in the Charities IAccounts and Reports) Regulatn$ 2QK18 other than any requifement Ihat the accounts give a and faif view vhich is not a matter consKlered as part ol an independent examinab"on_ I have Th) concems and have come across other matters in nnection with the examination to which attention should be drawn in this report in order to enae a prow uThJerstanding of Ihe accounts to be reach Mrs Julia Strike TEP One Bartholomew Close London EC1A 7BL Date.. 1&./.2025 Page 4
FELIX FOUNDATION STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Fund 2024 Tot81 2023 Ncrtes INCOME & EXPENDITURE Income and endowments from.. Investments 30,418.78 29.535 Total Income and enoTrents 30.418.78 29.535 Expendlture on: Charltable tXP8nditure Giants Suppxt costs 25,700.00 4.239.00 20.500 3,558 Total èxpenditure 29.939.00 24.058 NET INCOMEIEXPENDITURE 479.78 5.477 Net Ikjssesl on investrnents 16.329.OS 132,2291 Net lexpendliurèvincome 15,849.271 126.7521 Reconclllation of funds Fund balan brought forward 551.186.32 577.938 Total funds carried fopKdrd at 5 April 2024 545,337.05 551.188 Paje S
FELIX FOUNDATION BALANCE SHEET AS AT 5 APRIL 2024 Notes 2024 2023 Fixed Ats Investrnents 524.275.33 529.649 Curr•nt Assets Cash 21,901.72 21.537 Less.. Current Llablllties Amounts falling due 1n one year BDB Pilmans LLP lee Net Current Assets 21,061.72 21.$37 Net Assets $45,337.05 551,186 Funds UnrestriLted funds 545.337.05 551.186 The financial statemt$ were wroved by the Trust arxl thw'r behaff by. Ic F Atpelbe. Trustee Date". 5/I/L4 P4e6
FELIX FOUNDAT1014 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO S APRIL 2024 1. Accounting Pollcles Basis of a The financial statemetts have ien prepared under the hislorical cost convention. with the exptIOn that investments are shown at market value as at Ihe balance sheet date and afe in accoidance with the Statement of Recommended Pract.. Accounting and Rewting by Charitie5 preparing their accounts in accordance wilh the Financial ReKx)th"ng Slandaid appliG4ble in Ihe UK and Republic of Ireland IFRS 1021 leffects"ve, 1 January 2015} and the Charr($ Act 2011. The Chanty constitutes a public benefit entrty as defined by FRS 102 Having assessed the Charrtls finanual positK)n and p18ns foi the Yoiesee8ble fvlure, the Trustees are sats"sfied that it MaInS appropriate to prepare the financial statements on a going concem basis. Where nssary estimates and judgernents are based on historical experience and other laclors. The accounts have been prepared accordance wilh the Fi)ancial Reporting Standard applirable in the United Kingdom and Republic of IFRS1021 and with Ihe Charities Act 2011. Ex enditure A liability and related expenditure is recognised vAn Ihere is a legal or {S1CtIve obligatKJn at the balance sheet date as a resun of a pa event. that it 15 likety to be settled and that rt can be measured liab. Funds The Unrestricted Fund comprises ihose funds the Trustees are free Io use accordance wrth the charitable objecis. Chari ble Grants Grants are recognised when the Trustees have ffode a decision to make a payment and that deasN)n had been communicated to the recipient and rt is probable that payment will take place. Howevef. the ognition of any liabilty wl1 be dependent on any cA)ndrtK)n5 attaching lo Ihe cornrnitment. Investments Investments are stated at rnaet value as at 5 April 2024. In¥e5tment gairhs and 1055es a disdosed in the Statement of Financial ActNitw. Investment Income Investment incorre and lax recoverab are accounted for on a receivable basis. 2. Charitable Expendlture 2024 2023 Grants made dunng the year lotslled.. 25,700.00 20,500 Support costs Le9al & Professional VAT Inon recoverable) 3.532.50 706.50 4,239.1)0 2.965 593 3.558 29.939.00 24,058 Page 7
FELIX FOUNDAnON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR RENDED 5 APRIL 2024 IconLI 3. Investments Movements on quoted investffent5 We as fdkrws". 2024 2023 Market value brought forwafd Add.. acquisthns at cosl Net110551 on revaluation $29,648.86 955.52 16.329.OSI 560,949 929 132.2291 Markèt ¥alue at year en 524.27S.33 529.649 Historic cost value atyear erKI 303.002 302.047 All investments are situated in the UK and "Sted on a recdTrJnis•J stock exchange. Investments which PreSent 5% or re of the total portfolK) are considered by Ihe Truslees to be material and are.. 2024 2023 .[% 96 28% M & G Charifund- Inwne Units 4. Investrnent Income 2024 2023 Income from UK investmenls 30,418.7B 29,535 Movemènt in Fund$ 2024 2023 Unrestricted Funds General fund Fund value brought forward Add Net movement in funds 551.186.32 577,938 15.849.271 (26,7521 Fund value at year end $4S,337.05 551,186 Net movement i) funds labove}. arises a5 follows.. 2024 2023 Unrestrfcted Funds General fLJnd Income Gains and bsse5 30,418.78 16.329.051 29.535 132,2291 24.089.73 12,6941 Less.. Expenditure 29.939.00 24.058 15.849.27) 126,7521 Page 8
FELIX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR RENDED S APRIL 2024 IconLI 6. Trustees. Remunerdtoon and Expensts None of Ihe Trustees have been paid any reMeratiOn or rer2Ned any otr benefits frorn an ernployment wrth their charity or a relaled eTrtty. no trustee expenses have been incurred nor have there been any related paty transactions in the reFK)rting period Ihat require disclosu. 12023 also £0 In all cases). Independent examination fee5 are charged but they are part of 8DB Pitmans LLPS general expenses. The fijnctions are carried 01 separatety wrthin BDB Prtmans LLP. 7. Employets The Trust does nol ha¥e any emOYeeS(2O23." none). Page 9