The Everard Foundation
Annual Report & Financial Statements
For the Year Ended
5th April 2023
The Everard Foundation
Page 1
Annual Report fr the Year Ended 5th April 2023
Legal and Administration Details
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 5th April 2023. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the the accounts and comply with the charity's governing document. The Charities Act 2011 and 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 published in October 2019.
The Trustees acting throughout the year, who were not remunerated and received no expenses, were:
Mr. Richard A.S. Everard Mrs. Serena A. Richards Mr. Simon J. Atkinson Mrs. Charlotte Ione Vowles
Mr. Atkinson is, however, a partner in Currey & Co LLP, 33 Queen Anne Street, London Wl G 9HY, solicitors to the trust who provided secretarial, accountancy and tax services charging an annual f in this connection, details of which appear in the financial statements.
The investment portfolio managers are Evelyn Partners, 45 Gresham Street, London EC2V 7BG.
The charity's bankers are NatWest Plc, Leicester City.
The independent examiner is Ailsa Farey CA, ofMillbank Financial Services Ltd, Fourth Floor, 7 Swallow Street, London, WlB 4DE
Structure, Goverance and Management
The charity was established as a grant making trust by Deed of Trust dated 11th October 1976 and is registered with the Charity Commission, No: 272248. The charity's address is 33 Queen Anne Street, London WIG 9HY.
The charity is controlled by a board of trustees who manage all aspects of the trust's affairs and in whom vests the power to appoint new trustees.
The training needs of the trustees are reviewed on an annual basis, and existing trustees are provided with training as and when required. The training costs incurred in the current year were £Nil (2021/22: £Nil). They have received appropriate briefing on their responsibilities under the law relating to charities and their duty to ensure that their charitable activities are for the public benefit. The selection of future trustees will have regard to the skills, knowledge and experience needed for the effective administration of the charity. Any new trustees will be provided with copies of the Charity Commission's guidance to trustees and given an introduction to the activities of the charity by the existing board.
Related Parties
No transactions took place with related parties although expenses are charged for the services provided by Currey & Co LLP as disclosed above.
The Everard Foundation
Page2
Annual Report fr the Year Ended 5th April 2023
Risk Management
The major risks to which the charity is theoretically exposed are fluctuations in the value of its investments (whether caused by wider market factors, or under-performance of the charity's investment managers): the fraud or negligence of the trustees or third parties (including their investment managers or bankers) and cyber-crime. The Trustees, having assessed these risks, are satisfied that systems and policies (including policies on investment management and financial controls) are in place to manage those risks.
The trustees believe that by delegating investment management to recognised charity investment professionals and monitoring their performance, they have established the effective systems to mitigate these risks. The trustees also believe that it remains in the trust's best interest to continue to hold shares in EB Ltd in the expectation of a reasonable dividend income stream deriving from that shareholding. The trustees maintain close links with the Board of Directors ofEB Ltd and remain confident in the management of the company. The trustees, having assessed these risks, are satisfied that systems are in place to mitigate the charity's exposure thereto.
The Trustees have satisfied themselves that the trust is a going concern and has adequate resources to continue in operational existence for the foreseeable future. The charitable activities are funded by the investment portfolio and although Covid-19 has had a negative impact on this, the portfolio has sufficient value to support continued grant making.
Objectives and Activities
The charitiy's objects provide that: "Subject to any appointment the Trustees should hold the Trust Fund upon Trust to pay or apply the income thereof to such charitable foundations and for such charitable purposes as the Trustees in their discretion shall from time to time think fit"
In considering how best to achieve these objectives the trustees have had regard to the guidance on public benefit issued by the Charity Commission.
The objective of the trust is to seek to obtain a sustainable return from their investment portfolio and in particular an income increasing at least in line with inflation over the medium term. The charity is reliant on receiving neither additional funding from donors nor any particular level of income from its investments.
The trustees normally only make grants or loans to other registered charities in areas in which the trustees have an interest, in particular, the advancement of citizenship or community development, environmental protection and improvement, and the relief of those in need in and around the county of Leicestershire. The scope of their giving is determined only by the extent of their resources; it is not otherwise restricted either geographically, or by the type of activity canied on by prospective beneficiaries or applicants. The trustees continue to make grants in support of charitable organisations in furtherance of the charity's object for the public benefit.
Public Benefit
The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 and have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the donations policy for the year. The benefit that arises is the provision of funding to organisations that demonstrate charitable purpose.
Tbe Everard Foundaiknn Page 3 Annugl Re ortforthe Year Ended 5th A ril 21123 A¢hievements and Performance Durin8 the coursc of the >ear the trust made 16 grants totallin¥ £47,317 as set out in note 5 tv these accounts. The trustees consider that IheiF principal objectives arc being a¢hieved. The tru51e¢s are pleased with the pros8 made in the finoneial year ended 5th April 2023 and look forward to ¢xpanding their work with many other eh#rities in the years to come. Finanti21 Review On 5th April 2023 the investment portfolio was worth £17.101,628 (2021122.. £17,231,240) dnd in tlie year endin8 5th April 2023 the investment ittcome was £90.323 (2021122.. £61,852). Thc expenditure on chariLqble activiti¢s totallrd £63,28212021122.. £85,2¥8)- The trustees are satisfied that the charitys assets are available znd adequate to meet its obligations. Fixtd Assel Investments Investments are a fom of basic financial instrument and are initially reeognised at their transaetion value subsequently measured at their fair valuv as (It thc balance Sheet date using the Glosing quoted markel price. The statement of linan¢ial activities include5 th¢ net gains and losses arising on revaluation and dispo18 throughout the year. The main fom) of financial risk faced by the charity is thai of volatility in equity markets and investment mark¢ts du¢ lo wider economic condition8, the attitude of investors lo inv&sttnent risk, and changts in sentimeni conceming equiti¢s and wilhin Pdrti¥ular s¢¢lors or sub scclor5. Realised Gains and Losses All Bains and losses are taken to the Statem¢nt of Financial Activities Is they arise. Reali%ed gains and105S¢$ ort investments are cal¢ulat¢d ds the difference betwecn sales procecds and their npening carrying valuc or (heir purchase yalu¢ ifaryuited subsequent to thc first dav of the financial ycar. Unrealiscd gain8 and losscs are eal¢uloted Bs the difference between th¢ fair value al the year end and th¢ir ¢aryins Yalue. Rcalised and unrealised invcstment gains and losses are combined in thc Statement of Financial Activities. Employees The charity employs no staff. InvestmeTht Poliry Under the Trust Deed the trustees are eEnpowered io invest in any type of investment which the trustecs could make if they were absoliitely and benefi¢ially eniitled. Th¢ ]V¢s¢ln¢nt Poliuy is monitored by sU7a[ inv¢stm¢nt reports and annual m¢¢tings with thc Investment Manager. 'lThe trustees remain satisfEed with the perfomiance of their Investment Manager and that the trustees, mandate renvdins dpprupiiatc. A breakdown gf the Investments held ai the year ended 5th April 2023 Cdn b¢ s¢cn on pag¢ I l. Rescrv¢s Poli¢y It is the trustees, policy to distribute approxiTnately one yeags income in ihe course of each financial year and to retain a reserrfe only sufficient to be able to respond expeditiously and when appropriate to urgent appeals. At th¢ Balanc¢ Sh¢et date the unrestricted i¢s¢rves amounted to £17,371,430. They are invested in order to generate income and capital gains. providing further funds to support the charity's purposes. Plans for the Future Thc trustees intend that the principal objectives should be pursued in perpetuity.
Page 4 The Evtrnrd Foundation Annual Re rt for tbe Year Ended 5th A ril 2023 ststement of Trustee5' Responsibilities The trustees are responsible for preparing the trustees, report and the financi stat¢Tn¢nts in accordance with applicable law and regulations. The law applicable to charities in England and Wales reouir¢s the trustee5 to prepare fmancial StatLentS for each financial year in accoTdaTrc¢ with Unit¢d Kin¥doTn GL*Lrally Accepted Accounting Practicc (United Kingdom A¢¢ounting Sthndards and appli¢abl¢ r¢gFulatiuns). Under thai law the trustees must not oppove the financial statements unless they are satisfied th8t they give 2 trne and fair view of the slate of affairs of the charity aDd of the incoming resources and application of re50urce8 of the charily for thal period. In preparing thes¢ flnanrial stat¢m¢nts, the trnstees are required to.. select suitable a¢¢ounting policies and then apply them ¢()ntsistenlly' observe the methods ond principles in the Charities SORP (FRS 102) m8k¢ judgements and estimates thai are reasonable and prudwt; State wh¢ther applicable accounting stondards have been followed, 5ubjrrt tts any material dep}ureS disclosed and explained in the fman¢ial ststements; and preparc the financÉal stat¢m¢nts on thc going con¢¢rn basis unless it is inappropriat¢ to presume that the charity will continue in business. The trustccs are responsible for keeping adequate accounting records which arc suffiri¢nt tv show atid explaiii Il)c cliariws transactions and disclose with reasonable aceuraey at any time thc financiol P051tion of the charity and enable theJn to ensure that thc tjnancial statements Comply with the Charitics Act 201 I, the Charities (Accounts and Reports) Regulations 2008 and thc provigions of ihe trusi deed. Thcy are algo responsibl¢ for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irre¥ulariti¢s. R A S Everard on behalf of the trustees ..2023
Page 5 The Everard Foundation Statement of Financial Activities For the Year ended 5th A ril 2023 Notes 2023 2022 Income from: Investments Total 61,852 61,852 90,323 Expenditure on: Charitable activities Raising funds Total (63,282) 20,968 (84.250) (85,288) 21,971) (107,259) Net Incomel(expenditure) 6,073 (45,407) Gainsl(losses) on investment assets Net moven)ent in funds 10 15 188,453) (182,380) 134,148 88,741 Reconciliaton of funds: Fund balances brought fonvard 17,553,810 17,465,069 Fulld balances carried forward £17,371,430 £17,553,810
Page 6 The Everard Foundation Balance Sheet as at 5th A ri12023 Notes 2023 2022 Fixed Assets Investments at current value 17,101,628 17,101,628 17.231.240 17,231,240 Current Assets Debtors Chromebooks Cash at bank and on deposit 2 Silver Foxes 121,487 200,000 12 13 157,418 370 279,275 131,522 370 331,892 Creditors: Amounts due within one year Accruals 14 (9,473) (9,473) (9,322) (9,322) Net current assets Total Net Assets 269,802 322,570 £17,371,430 £17,553,810 The Funds of the Charity Unrestricted funds Total Charity Funds 17,371,430 17,553,810 £17,371,410 £17,553,810 Approved by the Trustees on 2024 and signed on their behalf by.. Trustee
Pag¢ 7 Kvergrd Foundatio Notes to the Financial Statements for the Year Ended 51 Aecountlng Policie5 ) Basis uf financial statements prcpargtion The financial statemenis of the charity, which is a public benefit entity, have been prepared in accordancc with the Charities SORP (PRS 102) 'Accounting and Reporting b}, Charitie%= Stalemcnt of Recommended PTarfiG¢ applicable to ¢hariti¢s preparing their aLuounts in a¢¢ordanee with the Fiftancial Roportin2 gtsndard applicablo in thÈ UK gnd R¢publi¢ oftrcland IFRS 102) {effective l January 2015}', the Financia] Rcporting Standard applicable in the United Kingdom and Republic ol- Ireland and th¢ Charities Act 2011. '1'1)e financial statements havc been prcparcd under the historical cost convention. The finan¢i21 statemenls have t)een prepared to gjive a Yrue and fair, view and have dcpart¢d from the C.haritie% (Accounts and Reports) Regulations 2008 only to the extent required to give a'true and fair, view. This departure has involvcd following Accounting and Reporting by Charitics preparing their accounts in accordCe wilh the F inanoial Keporting Stsndard applicablc in the UK and Republic of Ireland (FR8 1021 issued in October 2019 rath¢r than the AG¢ountin8 and Rcporting by Charities.. Statement of Recommended Practice efFeLt5V¢ from Isi April 2005 which ha5 since been removcd. b) Nature of FndS All fund.% held are unreStried and the trustees are free to use them in accordance with the charitable objecls. c) Fixed A$set Investments Investtnents arc *ated at market valuc at th¢ balance shcet dat¢. Ov¢rs¢as investment5 are translated intv St¥rling at the rates ruling at the ycar end. Thc Statemeni of Financial Activiti¢s (SOFA) includ¢s the net gains and 105ses on revaluation and disposals throughout the year. d) Investment Income liivestlT]ent incorne is accourtted for when receivable and is sttted of any reclaimable taxaiion irlicf. t) Raising Funds Expcnditurc is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to that category and are shown in the notes to the financial statements. 0 Charitsble CTrants Grants payable are recognised in the sofA when they are approved by the Irustees and the rccipieni has been infomied of the alllount to b¢ paid. g) Foreign Currencies Trangactions denominated in a foreign currency are translated into sterling at thc raie of exchanb¥¢ rulinby ai ihc dat¢ of the transaction. Ai the balancc sheet dale monetary assets td liabilities denomsnated in a forcign currency are Iranslat¢d at the rat¢ ruling ai ihat date. All exchangc differences are dealt with in the SOFA. Remuneration of Trusttes In the linancial }'¢8r to 5th April 2023 ihe trustees did noi receive any reTnuncration (2021122: £Nil) biit did receive reimbursement for exp¢nses IncU¢d in the year.
Page 8 'rhe Evernrd Foundatioll Notes to the Finanei#l St4tementg for the YtAr Ended 5th A ril 2023 2023 2022 3 Investment Income UK Dividends - quoted UK Divid¢nds- unquoted Unil Trust Income Fixed interest slock Property InC0e Overseas income Overseas withholding i&¥ repayment IIMRC penalty refund Dividend difference Bank Intrrest 21,739 22,796 9,497 402 2,494 33.021 20,850 7,086 1,203 2.310 29.896 368 100 37 374 £90.323 £61,852 4 ChAritable Activities Direct Support costs (see note 5) (see note 6) eosts Charitable expenditure £47,317 15.965 63.282 5 Direct Costs The Charity undcrtook no direct charitable activities but awarded bants to a numbor of institutions in furtheranee of its charitable objectives. These are &$ follows.. 2023 2022 ABf The Soldier's C.harity" Age UK Leicester & Rutland Anstcy Nomads Blaby & Whetston¢ Youth Club Boosl Briiish Heart Foundalion Carers of Leicestershire AdvoLacy & Support Charlie Waller Trust ¢lf 1,800 10,410 i.uoo 450 700 1.000 5,000 5,000 500 250 8.400 17,710
Page 9 Tho verard Foulldation Notes to the Financial Stat¢ments for tbe YLur Ended 5th A ri12023 2023 2022 5 Direct Costs cont. Balance blf Friends of New Walk Charitable Trust Leicestcrshire County Council Leicester Hospitals Charity LeiLester l iLFers Foundation Maemillai) Cancer Support Manor House Community Centre Proslaid Pro%tatc Cancer UK Restore Rolary Club of Leicester Trust Fund Se*ble Foundation l7.710 500 500 8,400 25,000 i 0.000 765 800 435 362 250 1.200 500 20,000 2,000 4.450 13.500 St. John Church Tennis Leicester Cliaritable'l'rust The Fonvard Trust Warniiig Zone (Leicester & Rutland Crimebeat) Winfrith Pre-school Young Enterprise Young Leicestershire Ltd 10,040 1,375 1,000 3.580 750 1.000 50 £ 76.850 £ 47,317 Analysis of grants made Grknts to institstions GrAnts to individuals Total Advancement of: education religion hcalth or Iht baving of lives citizenghip or coinmunity development the art&, culture, heritage or s¢r¢n¢c environmental protection or improvement the reli¢f of those in need animal welfare promotion of cffictency of thc armed forces Any other Lharilablc purposes 24.870 24,870 0,562 2.675 6,562 2,675 500 10,910 500 10.910 1,800 1.800 £47.317 £0 £47,317
Pagelo The Everard Foundation Notes to the Finaneial St¥temeDts for the Y 5th A ri12023 r Ended 2023 2022 6 Support Costs Independent Examination fee Bank charg&s Withholding tax Depreciation LEI Registration f¢¢ Legal and Professional fees 431 243 192 96 480 144 7,470 £8,438 72 15.270 £15,965 7 Expenditure on Raising Funds 2023 2022 Inv¢stment mana8einent fees £20,968 £20,004 8 F,mployees There are no employees so consequently no staff costs have been incuffed.
PAge 11 The EverMrd Fuundutiv Note5 to tbe FinaD¢ial St&temeRts for th¢ V¢8r E]Jdtd 5th A ril 2023 5.4.2023 Market N'alue 9 1nv¢stthÈthts held at 5th April 2023 20,302 675 675 438 7.615 3.300 625 13,180 3,670 130 505 8,320 38,656 1.2iO 618 305 303,947 1,010 93,435 sql 3,380 10,645 31,240 66,3(K) 35,859 20.2 3,7d8 35,500 435 280 130 21,290 4,640 1?,9iO 4,6UU 5,015 465 645 2,155 7.350 31.900 440 66a 1,050 227 38.650 42,164 42,663 620 2.7811 1.375 IS,0 3.160 39,150 725 365 4.133 Augtnentutn Finte¢h Pl.C Ip (Ird Anglo Amcrican USSO.54945 Ashiead Group plc lop Ord Astrazeneca plc Ord US$O.25 Avsi'a plc 32.8947p Ord Illackrock %rnallcr Comparti¢s'l'rust 25p Ord Blackstone Group LP Common Units BP plL ord US$O.25 Builord Capilitl Ltd Ord NPV CG Portftilio Fund Real Rern'A, £ C.CJ Portfoli• fund pl¢ Dollar Tledged £ Dis Conduit Eloldings Ltd Common Shares USSO.01 Lordiant l)igital Infrastructure Ltd Ord NFV Shares (;Rl l ()rd l..uro 0.32 Croda Intcrnational 10.609756p Ord r.dgewo(>d l. Sclccl Ilg Sel¢cr lirowth l L IJSS F,vcrards Br¢w¢ry Ltd £1 ord ExpeTi8n plc Ord USSO.10 Fa1r Oaks Incnmc Fund l.td. Ord NPV12017) Findlay l)ark Tr'iinds plc AmeTi¢an £ Hcdge41 FJi%t Fidclity Inv S¢TVite% IIJK) Ltd Fidelity Asia W Acc £ Fidelity Inv Services China Sp¥cia] Silualiohs Ip Ord H¢Tme5 Inv Management Olobal Ltncr8lll8 Markcls J2 In¢ £ IIBC. I1.4(f/ts wrsF.th.si'X DLI'Autocall 241412026 Infornia plc O.OOlp Ord JPMorgan Assei Manog¢rnent UK Lld jap C Acc Jupilei U.T. Manag¢rs European Z Inc JupiLer U.T. Manag¢rs Japan Incotnr Z £ Di5 l.a7ard Cilobal Invcsmient Fun(Js pl¢ Rathmore London Siock Exchange Group plc 6.918604p Ord Micr050ft Corporalivn Cvmmon USSO.OOOna625 Monthnaro As8Ct Managcmcni Montanaro UK Inwm¢ & Secd Murray Internation&1 Trull 25p Ord National Grid pl¢ 12.43128gp Ord NB Private Equity Partsi¥rs l.ld Class A Ord ghares N¢ubci"gcr Bcrman Inv. I'unds plc lJn¢ori'¢latcd StratC£lC5 P £ A Novartis A([ CHI.. 0.50 (Regdl PGIM Fund8 plc IJS CorpurnlL Bond l £ Dis Hedged Pershing 5quaTe Holdin&s l.ld NPV Ph¢onix Group I loldin8s Euro 0.0001 Real Estate Credit Inv l.td Ord NPV Rcckitt Benckiser Group plc lop Ord Rio Tinto plc lop Ord RWF. ACT NPV Schroder Investhjent Manag¢ment LK SA Ab'idll Tothl R¢iurn C In SDCL Energy Efyiciency IncoEnc Tru%1 Ip Ord S¢eure Income REIT plc lop Ord S4utsia kconomic Infra Inl Furt(t NPV bkyliiit Umbr¢lla Fund EaglL Cap US Equiiy Value fund R £ Stnith% (iroup plc 37.5p OTd Smurfjt Kappa Group plc Euro 0.001 Ord Syncona Lid Old NPV Third Point Off5hoT¢ Ltd NPV IJS$ 'I'rit&x lurobox ple Ord Euro Q.01 UnilLver plc 3.11 I I p Ilrd Walt Disney Company us$O.01 xtra¢k¥Ys ETC plfj (IE) Physirui Gold ETC £ 19.489.92 17.620.88 30.139.00 50.781.72 42,438.00 40.834.14 70,341.66 34,736.55 48.772.90 41.142.40 32.084.4X 47.500.QQ 39,280.08 79.527.12 14,550.000.00 27,078.10 36,738.20 47.205.90 51.849.20 30,496.50 43.59? 38 94.557,06 19.686.59 60,196.00 114,323.90 37,814.60 53.737.38 22,086.40 2(?,663.1{} 39,407.71) 62.268.80 53.627.50 65.320.00 54,011.54 35,484.13 55.689.30 ig,693.50 42,267.50 27,878.40 34,867.80 36,634.70 91,741.55 33,161.70 41,046.65 34,727.68 80.874.19 46.328.70 39,()57.50 22,590.00 48,368.64 23,920.65 31.091.63 29.264.14 100,349.24 £17.101.628
Page 12 Tbe Everard Founditio Note5 to the Finart¢illl Ststemellts for the Year E 5thA ril 2023 2023 2022 9# gaInlI055c5I on invesiments Revaluation of investments Gainl(108%1 on 5alc ofinvesirnents 118i.6ill 12,8021 1£188.4531 94,346 39.802 £134,148 10 Filed Asset Invt5tments 2023 2022 Cost or vUatIOn at 5th ApTiI 2021 Additions 17,231.240 155.177 196,3361 11¥8,4531 £17.101.028 17,025,525 469.214 1397,6471 134.148 Li 7.2.11.241) Valuarion changes ai 5th April 2022 FOT thc purpo.%¢q of thc 2023 accounts. the trusl¢c5 vbiained an indLpendenl prvfvs5iondl Vdlu&iion of the fall value of the unlisicd invu5tmcnts a5 at 5th April 2019, and havc a8reed lo use thi5 m4wk¢t aluation as at 5th April 2023. The book value of the quoted investmcnts at 5th April 2023 is £2,232,730. Net gainglllo%scs1 on investments inelllde5 r¢ali5¢d gains for the year of£i3.528112022.. Oain £39,364) and Ullre&ised Bwn vn valuaLl0 to tnatkei value of £(185,651}12022.. Gain £94.346}. I l Debtors Amounts fAlllng due: Loans lo". Age IIK l.cic¢srershirt & Rutland Ircpayable in 3 years} Watning Zo>ne l)ividend outs'ldnding 2023 2022 40.(K)O 80,WO 1.487 121,487 100.wo £2(Y).000 12 Cash at bank 2023 2022 NaiwesL Bank pl¢ Evelvn Panners Currey & Co LLP Client A¢¢ouni 13,632 116,664 27.122 £157418 13,573 110,871 7,078 £131,522 13 Current Assets 2(123 2022 2 S¢crling Silv¢i Foxcs £370 £370
Page 13 The Everllrd FoundAtio N t t tht FinAntial Statements for the Year [ded 5th A ril 2013 14 Creditors: Amounts fgllillg due withtn one year 2023 2022 Curr¢y & Co LLP (ees InYr5tTnrnl Manag¢tn¢nt fee Independeni Examination fee 3,600 5.247 626 £9.473 3.570 5.362 3()0 £9.322 IS Movement in Funds 2023 2022 Unrcsirithcd fiinds-. Balanc¢ broughi forward Nei m()v¢m¢ni in fund HAlance carried forward 17,553,811 182.380 £17,37I.431 17.465,Q69 88,742 £17.553,811 Nei movement in funds included in the above aTe as follows.. Ggtns Movement funds Unr¢stricied fvnds 84,250 588,4531 (182,380) 16 Related Pgrty Transactions IM¢lud¢d in debtors two conccssionarv int¢K8t free loans. The loan to Age UK Leicestershire of £40.000 i¥ab Paid on 4ih Sepw'mber 2023, dnd the tu Warning Zvnr uf £80.0001()ri8inally £IN,000} is repayable in dnnaul insiallmenis ofnot le&5 than t211.nno. -The tirq insialltnent FLTiiid in March 2Q23. 2024 ()r ()n anv earlicr datc. Warning /one is a ¢hariiable company litnited by guarantee olwhich Mr Richard A q F.vcraTd OBE is the presideni. TlJ¢ tTU5tres subse4uently thai Wa[nI Zon¢ ould recLive a tL'paym¢llt holiday) on the basis that the rtpaNin¢nL% Could be made when the funds bel¢ available.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EVERARD FOUNDATION FOR THE YEAR ENDED 5 APRIL 2023 I report lo the charrty Iruslees on my ex8minalion of the accounts of the charity for the year ended 5 April 2023 whieh aré eel out on p8gg9 5 to 13. Responsibilities and basis of report AS the Chari5 trLtslees you ara raÉpongibl8 for thg preparation of the accounts in accordance wth th8 requirem8nts of the Charities Act 2011 IY)e Acf). I report in respect of my examination of the ¢harty'8 a¢unt8 carried out uThder section 145 of the Act and In carrying out my examination I have followed all the appliGable 04reGbon5 gThfen by the Charity Commission under section 145151{bl of the Act. Independent Examinèrfs Stst•ment I have COTnpleted my examination. I confimi that material matters have come to my attention in connectlon with the examination giving me cause to believe that in any rnaterial respect". accounting records were not kept in respect of the charity as required by saction 130 of the Act., or the accounts do not accord with those records.. or the accounts do not wmply with the applicable requirements (KInrning th8 fomi and content of aOUnts set out in thg Charities (Accounts anij Reports) Regulations 2008 other than any requirèment that the accounts give a Irue and fair view, which is not a matter considere(J a8 part of an independent ex8minalion. I have no concems and have come across no other matteTS in connection with the examination lo which attention should bè drawn in this report in order lo enablè a proper understanding of the accounts to be reached. Ailsa Farey CA CTA 41h Floor 7 Swallow Street London W1B4DE DATED this day of 2024.