Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 Report and Financial Statements for the Year Ended 31st March 2023 I FORD BRITAIN TRUST Registered Charity No. 269410
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST Table of Contents Pa Report of the Truslees for the Year Ended 31 sl March 2023 Independent Examiner's Report lo the Trustees of Ford Britain Trust Statement of Finan¢ial A¢livtties for the Year Ended 31 sl March 2023 Balance Sheet as at 31st March 2023 Notes lo the Financial Statements
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 The Trustees present their report and financial statements ol Ford Britain Trust Ilhe Charilyl lor the year ended 31 sl March 2023, prepared in accordance with the Charities Act 2011 and the Charities SORP Islatemenl ol Recommended Practice) FRS 102 applicable in the UK and Republic of Ireland. Reference and Administrative Details of th8 Charity. its Trustees and Advisers Head office Ford Britain Trust GB15 02BD20A Arterial Road Laindon, Ba8ildon Essex SS15 6EE Registered Charity No.. 269410 Bankers HSBC Bank plc Level 30 8 Canada Square London E14 5HQ Charities Offi¢ial Investment Fund 85 Queen Victoria Street London EC4V 4ET Soll¢itors Wortley Byers LLP Cathedral Place Brentwood Essex CM14 4ES Independent Examiners Bishop Fleming LLP 10 Temple Back Bristol BS16FL Trustees Under the provisions ol the amended Trust Deed there shall be not more than twelve nor fewer than four Trustees. During the year and lo dale the Trustees were.. Mrs J L Skerry. HFt Director. Ford Motor Company Ltd Mr P R Bailey, former Env. Engineer Supervisor, Ford Motor Company Ltd Mr D S Russell, Industrial Platform Digilalization & Transformation Chief, Ford ol Europe Dr J-A Sealy, former Assistant Director- National Accounts, CBI Mrs L T Nicoll, Diversity, Equity & Inclusion Manager, Ford Motor Company Ltd Ms E W James, former HR Director, FGE Bank PIC Ms J Ball, former Princes. Trust Coordinator In line with the amended Trust Deed, all Trustees have been nominated by Ford Motor Company Ltd. Administration Ms D Chennells is the director ol the Trust. The day-lo-day administration task is presently run by Ms E Wilherington supported by Ms D Chennells Idireclorl and Ms E Hill laccounlantl.
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 Structure, Governance and Management Alms and Oblectlves The Ford Britain Trust Ilormerly the Ford ol Britain Trust) was created by Trust Deed on 1 April 1975 lamended in July 20041 lor the advancement ol education and other charitable purposes beneficial to the community. In making grants, the Trustees pay particular attention to those organisalions that are located in areas where Ford Motor Company Ltd has a long standing association with local communities due lo the location ol the Company's aclivilies. Particular consideration is also given lo organisalions and projects which support the principles embodied in the Companls policies on Diversity- Public Benefit As explained in our Aims and Objectives, the Ford Britain Trust serves the communities in which Ford Motor Company Ltd and its employees are located. The Trust achieves this by making grants lo nol-lor-prolil organisations, mainly registered charities and schools in support of.. youth development schools and education,. with partiCLJlar emphasis on special educational needs disabilities community related activities Through these grants, a broad advancement in a range ol iSSLJes including education, equality, diversity issues and the relief of poverty are addressed. Other than limitations related to geographical location, no other restrictions apply lo the grant making ol the TrLJSt, although the Trust lavours applications linked to smaller projects supporting initiatives as listed above. The Trustees have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our Aims and Objectives and in planning our future aclivilies. In particular. the Trustees consider how planned activities will contribute lo the aims and objectives they have sel. Grant Making Policy Applications are considered from registered charities or organisalions deemed to be charitable. Generally, decisions are made al Trustees, meetings twice a year lor one-oll grants for specific capital projects or parts ol a project. Applications for core funding and major building projects are rarely considered. In addition, schedules ol small grants of up lo £250 per application are approved approximately three limes a year by a Trustee land subsequently reviewed at the next full TrLJslees' meelingl. Grants are made in live categories.. Community Service, SchoolslEducation, Special Needs Education, Disability, and Youth. Investment Policy Funds are held in the Charities Official Inveslrnent Fund ICOIFI deposit account as disclosed in Note 4. Reserves Poli¢y The Trust's policy is lo ensure that it has sufficient resources to continue lo operate for in excess ol one full Calendar year. Ford Motor Company Ltd have made the decision lo contribute £100,000 lor one year and FCE Bank PIC have approval to make contributions of £15,000 during the year. The Trustees intend lo approve grants over the next year and secLJre further funding lo ensure cash resources are sufficienl lo maintain grant making lor in excess of 12 months. Risk Management The Trustees have assessed the major risks to which the Trust is exposed and the processes in place to miligale those risks. An annual review is conducted at a Trustees, meeting.
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 Summary of Financial Activiti8S The source of the Trust's income was historically periodic donations made by Ford Motor Company Ltd, FCE Bank PIC and Ford Employee Benefits Trust IFEBTI. Additional funding in Ihe year was received from the wind up ol two Ford trusts.. FEBT and Ford Benevolent Fund. The FEBT funds will be treated as restricted cash and will only fund grants where the beneficiary is an employee, former employee or 8 member of their family. Trust expenditures Isee Notes 3a and 3bl, amounting lo £141,24912022.. £81,235) were predominantly in the form of grants and related support costs. Ford Motor Company Ltd pays the salary of the director. Grants The Trustees met on two occasions (April 2022, and October 20221 lo approve grants ol £126,57312022.. £65,2551- Grants approved, paid and outstanding at 31 sl March 2023.. Approved brought forward 1 st April 2022 Approved during the year Current year cancellations Prior year cancellationsladjuslmenls Total approvals during the year Paid during the year Carried forward 31 si March 2023 126,573 12,9901 852 122,731 119,232 Note 3a-"Charilable Aclivilies" provides an analysis of the number of grants made and the comparative ligLJres lor 2022. The number ol applications lor financial support received by the Trust in the year lo 31st March 2023 was 81812022.. 8221. On behalf of the Trustees Jan-22-2024 Jan-26-2024
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FORD BRITAIN TRUST I report lo the charity Trustees on my examination of the accounts ol the charity for the year ended 31 March 2023. Responsibilities and basis ol report As the Trustees ol the charity you are responsible for the preparation ol the accounts in accordance with the requirements ol the Charities Act 2011 I'lhe 2011 Acl'l. I report in respect ol my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Your attention is drawn lo the lacl that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Sialemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations bul has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Awounling Practice effective lor reporting periods beginning on or after 1 January 2015. I have completed my examination. I can confirm that no matters have Come to my attention in ¢onne¢lion wth the examination giving me cause lo believe that in any material respect.. 1.accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or 2.the accounts do not accord with those records., or 3.the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a true and lair. view which is not a matter considered as parl ol an independent examination. I have no concerns and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding ol the 2CCOLJnls to be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the charity's Trustees those matters l am required lo slate to them in an Independent Examiner's Report and lor no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charills Trustees as dy, lor my work or for this report. Chris Tranlham FCA Bishop Fleming LLP Chartered Accountants 10 Temple Back Bristol BS14FL Date.. 29 January 2024
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023 2023 Restricted 2022 Total Notes Unreslricled Total Voluntary income Income from generated funds= Donations Other income.. Bank interest 115,000 £ 115,000 £ 115,000 4,025 4.025 90 Total income 119 025 £ 119025 £ 115090 Expenditure on charitable activities Charitable activities 3a Governance costs 3b 1110,1631 £ 11,6701 129,4161 £ 1139,5791 £ 11,6701 179,8511 11,3841 Total expenditure 141249 Net movement in ftjnds for the year Funds brought forward 1 st April 7,192 £ 350,355 129,4161 £ 29,416 122.2241 £ 379,771 33,855 345,916 Funds carried forward 31st March 357 547 £ 357 547 £ STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022 {Comparatives} 2022 Restricted 2021 Total Notes Unreslricled Total Voluntary income Income from generated funds= Donations Othèr income.. Bank interest 115,000 £ 115,000 £ 256,606 90 90 286 Total income 115 090 £ 115090 £ 256 892 Expendlture on charltable actlvltles Charitable aclivrfties Governance costs 114,5961 £ 11,3841 165,2551 £ 179,8511 £ 11,3841 1137,3591 11,3441 3b Total expenditure 15,980 65.255 81.235 138,703 Net movement in funds for the year Funds brought forward 1 st April 99,110 £ 251,245 165,2551 £ 94,671 33.855 £ 345,916 118,189 227,727 Funds carried forward 31 st March 350 355 £ 29416 £ 379 771 £ 345916 The notes on pages 9 - 12 form part of these financial slatemenls.
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST BALANCE SHEET AS AT 31ST MARCH 2023 Notes 2023 2022 Current assets Cash al bank Donations receivable from Ford Motor Company Ltd & FCE Bank PIC 362.727 £ 382,619 Creditors: amounts falling due within one year Accruals and other creditors 18,4201 12,8481 Nel ¢urrent assets 354 307 £ Trust funds General trust funds Reslricled funds 357.547 £ 350,355 29,416 Total funds 357 547 £ 379 771 The financial slalements were approved by the Trustees on and signed on their behalf by= Jan-22-2024 j Trustees &£? i Jan-26-2024 The notes on pages 9 - 12 form part ol these financial statements.
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 FORD BRITAIN TRUST NOTES TO THE FINANCIAL STATEMENTS Footnote Note 1 Note 2 Note 3 Note 4 Note 5 Note 6 Note 7 Note 8 Note 9 Pa Basis ol Accounting Accounting Policies Grant Categories Cash al Bank Accruals and Other Creditors Nel Current Assets Voluntary Income Employee Information Related Company 10 12 12 12
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 IORD BRITAIN TRUST NOTES TO THE FINANCIAL STATEMENTS NOTE 1. BASIS OF ACCOUNTING Ford Britain Trust meets the definition of a public benefit entity under FRS 102. The financial slalemenls have been prepared to give a'lrue and lair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide a 'lrue and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic ol Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by charities.. Slalemenl of Recommended Practice elleclive from 1 April 2005 which has since been withdrawn. The financial statements have been prepared in accordance with applicable accounting standards and the Charities SORP (Statement of Recommended Practice) FRS 102 applicable in the UK and Republic of Ireland. The Trustees have elected lo dispense with the cash flow slalemenl which is not necessary under the requirements of the SORP. NOTE 2. ACCOUNTING POLICIES The financial statements have been prepared under the historical cost convention. The principal accounting policies are as follows.. al Fund accountin General Trust Funds include unrestricted funds which are available for use at the discretion of the Trustees in furtherance ol the general objectives ol the Trust and which have not been designated for other purposes. Reslricled funds are those funds available only to support grant applications with strong links lo Ford Motor Company employees, retirees and their dependents. bl Grants.. Grants payable are charged in the year when the offer is conveyed to the recipient. cl Gills in kind.. Gills in kind are included as voluntary income and expenditure al either market value or, where this is unavailable, at Trustees, estimate ol their value lo the charity. dl Donalion8.' Donations are accounted for on an aecrualg basis. Rebates of tax associated with donations are accounted lor when received where there may be a degree of uncertainty over the claim. el Taxation.. The Trust is a registered charity Ino. 2694101 and accordingly is exempl from all forms of direct taxation on ils charitable activities. fl Allocation ol ex endilure- Grants payable are charged lo a specific grant category. Direct governance costs are charged lo that aclivily. Support costs are all allocated lo charitable aelivilies with the exception ol a portion ol stall and agency costs that are eslimaled lo relate lo the time spent on Governance activities. gl Goin concern.. The Trustees have considered the issue ol whether the Trust is able to continue as a going conrn and believe Ihat, with the updates lo the business plan that they have made. tt is appropriate to compile the accounts on a going concern basis.
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 IORD BRITAIN TRUST NOTES TO THE FINANCIAL STATEMENTS NOTE 3. GRANT CATEGORIES la) Charitable Activities 2023 No. ol rants 2022 No. of rants Community seNice Schools l education Special needs education Disability Youth Total approved grants incl. condltlonals CLJrrent year cancellations Prior year cancellations Net total grants Support costs (see Note 3bl Total Charltable Actlvltles 74,672 26,861 66 41 50 31 31,942 4,935 9,248 7,250 11,880 65.255 38 20 49 26 21,125 14 10 131 12 78 15 100 126,573 100 12,9901 852 122.731 16,848 139579 3,750 61,505 18.346 NOTE 3. GRANT CATEGORIES (Continued) la) Charitable Activities (Continued) Significant grants lo individual organisations are as follows: 2023 Active Hope Ltd Belz Communities Bridge2 ILiverpooll Limtted Claire House Children's Hospice Crohns & Colitis Relief Friends ol Zichron Dovid Headway Southampton Hope GB Mitchells Miracle Neuroblastoma Charity Outreach Community & Residential Services Pathlield School Sherdley Primary School The Carpenters & Docklands Community Centre The Listening Place Trust Links XLP Community by Natur8 Ltd Mustard Tree Elm Park Community Association The Happy & Healthy Trust Minslead Trust Aulaslic Charity Ocean Youth Connexions SeeAbility Sociability Community PlaOink Braunston Primary School Pakeman Primary School East London Out Project lelopl Achienu Cancer Support Grants less than £2,000 Total 3,000 3,000 3.000 3,000 3.000 3,000 3.000 3,000 3.000 3,000 3.000 3,000 3.000 3,000 3,000 3,000 2,950 2,920 2,900 2,880 2,830 2,800 2.800 2,800 2.800 2,736 2.600 2,500 2.260 2,000 40,797 126573 10
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 IORD BRITAIN TRUST NOTES TO THE FINANCIAL STATEMENTS NOTE 3. GRANT CATEGORIES Icontlnued) Ib) Support & Governance Costs 2023 2022 Support costs Staff costs Iless governance costs) Total 16,848 £ 18,346 2023 2022 Governance costs Independent examiner's fee Total 1.670 1,384 NOTE 4. CASH AT BANK 2023 2022 Charities Ollicial Investment Fund ICOIFI deposit account High interest cheque account Total 214,402 £ 148.325 362 727 £ 210,667 171,952 382 619 NOTE 5. ACCRUALS AND OTHER CREDITORS 2023 2022 Unpaid approved grants Staff Costs Independent examiner's fee Total 3,500 £ 3,370 1,550 1,498 1,350
Docusign Envelope ID". 115821AF-53A1485A-9D3F-78B45442C7C5 IORD BRITAIN TRUST NOTES TO THE FINANCIAL STATEMENTS NOTE 6. NET CURRENT ASSETS 2023 2022 Cash at bank Donations receivable Total current assets Creditors., amounts falling due within one year Net current assets 362,727 £ 382,619 362.727 £ 8,420 354 307 £ 382.619 2,848 379 771 NOTE 7. VOLUNTARY INCOME Ford Britain Trust is provided with ollice accommodation and equipment free of charge. The associated costs, and the salary of the Director, are paid by Ford Motor Company Ltd. The Agency costs of the Trust's administrative assistant are borne by the Trust. The voluntary income and associated expenditure were as follows.. 2023 2022 Grants from Ford Motor Company Ltd Grants from FCE Bank PIC Total 100,000 £ 15,000 115000 £ 100,000 15,000 115000 NOTE 8. EMPLOYEE INFORMATION The Trust has one paid employee12022.' one). The Director and accountant positions are currently lullilled by volunteers. No Trustees received any remuneration during the year12022.. £Nill. NOTE 9. RELATED COMPANY The Trust is related lo the Ford Motor Company Ltd. Al year end. three ol the seven Trustees were employees of Ford Motor Company Ltd or FCE Bank Ple, two were former employees and two were external parties. The following transactions have taken place.. The Trust was granted £100,000 from Ford Motor Company Ltd during the year12022.. £100,000) and £15,000 from FCE Bank Plc12022.. £15,0001. 12