## **BDO Charitable Trust**
Financial Statements Year Ended 31 March 2022 Charity No.: 278589
## **BDO Charitable Trust**
## **Report and Financial Statements for the period ended 31 March 2022**
**Contents Page:** 1 Reference and administrative information 2-3 Report of the Trustees 4 Independent Examiner's Report 5 Statement of Financial Activities 6 Balance Sheet 7-11 Notes forming part of the Financial Statements **Trustees** Stuart Collins Daniel I Dover Sarah Hillary Lesquerre Sophia Michael Matthew White **Principal Office** 55 Baker Street, London, W1U 7EU **Independent Examiner** Perrys Audit Limited, Churchdown Chambers, Kent, TN9 1NR **Solicitors** Maurice Turnor Gardner LLP, 15[th] Floor, Milton House, Milton Street, London EC2Y 9NH **Bankers** Cater Allen Private Bank, 9 Nelson Street, Bradford, BD1 5AN
1
## **BDO Charitable Trust**
## **Report of the Trustees for the period ended 31 March 2022**
The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law.
## **Constitution and objects**
The BDO Charitable Trust is constituted by a trust deed dated 16th July 1979 and is a registered charity number 278589.
The objects of the charity are to apply the income and capital of the trust for charitable purposes as the Trustees shall in their absolute discretion determine.
## **Public benefit**
In meeting the objectives the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and judge that all donations made meet this guidance. All donations are listed in note 4 on pages 8 to 10.
## **Organisation**
The Trustees who have served during the year and since the year end are set out on page 1. The power to appoint additional Trustees is vested in the current Trustees and is exercisable in writing. Where there is a requirement for new Trustees, these would be identified by the remaining Trustees.
## **Financial review and investment policy**
The Trustees have continued to support other charitable organisations within the objects clause of the Trust deed and there are no immediate plans to alter the way in which income is expended.
BDO LLP makes regular donations to the Trust and nominates specific purposes to which these funds should be applied. The restricted fund relates to these funds.
The Financial Statements show gross income of £75,000 (2021 : £788) in the year. After grants of £68,866 (2021 : £8,282) funds of £162,014 are available to be carried forward. As COVID-19 restrictions started to be lifted there was an increase fundraising activities carried out by the staff of BDO LLP. As the Trustees often support these fundraising activities by making additional grants to those charities this has resulted in a significant increase in grants made in the year.
The Trustees are satisfied with the state of the Trust's Affairs.
The Trustees follow a conservative investment policy by keeping its monies on deposit, which ensures sufficient liquidity for the Trust’s foreseeable needs and donations.
## **Reserves policy**
The Trustees aim to maintain unrestricted reserves at not less than £100,000 in order to meet any exceptional calls for immediate charitable funding. The unrestricted reserves at 31 March 2022 were £120,032.
2
## **BDO Charitable Trust**
## **Report of the Trustees for the period ended 31 March 2022**
## **Risk management**
The Trustees have identified the risks that attach to the continued administration of the trust and have taken steps to mitigate such risks as appropriate.
During the year, the continued impact of the Coronavirus (COVID-19) outbreak across the world had an unforeseen impact on the Charity, along with all other organisations. The Trustees followed official UK government advice and instituted home working and online meetings to replace face to face gatherings. The Trustees also considered operational aspects, and although many of the operations of the Charity have been temporarily carried out from home, the Charity considers it has sufficient cover in critical operational areas to manage its activities.
## **Trustees’ responsibilities in relation to the financial statements**
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the period. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and 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.
Approved by the Trustees and signed on their behalf by:
## **Daniel I Dover**
Trustee
Date:
3
## **Independent Examiner’s Report to the Trustees of**
## **The BDO Charitable Trust**
We report to the trustees on my examination of the accounts of The BDO Charitable Trust for the year ended 31 March 2022
## **Responsibilities and basis 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 2011 (‘the Act’). We report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the 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 content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Steve Hale FCA,FCCA
**on behalf of Perrys Audit Limited**
Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR
Date:
4
## **BDO Charitable Trust**
## **Statement of Financial Activities for the period ended 31 March 2022**
**----- Start of picture text -----**
Notes Restricted Unrestricted 2022 Restricted Unrestricted 2021
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Income and endowments from
Donations and legacies 2 65,000 10,000 75,000 660 - 660
Investments 3 - - - 63 65 128
Total 65,000 10,000 75,000 723 65 788
Expenditure on
Charitable activities
Activities undertaken 4 54,866 14,000 68,866 3,582 4,700 8,282
Support costs 5 283 258 541 360 360 720
Total 55,149 14,258 69,407 3,942 5,060 9,002
Net income/(expenditure) 9,851 (4,258) 5,593 (3,219) (4,995) (8,214)
Total funds at 1 April 2021 32,131 124,290 156,421 35,350 129,285 164,635
Total funds at 31 March 2022 41,982 120,032 162,014 32,131 124,290 156,421
**----- End of picture text -----**
All amounts relate to continuing activities.
The notes on pages 7 to 11 form part of these financial statements
5
## **BDO Charitable Trust**
## **Balance Sheet as at 31 March 2022**
|**Notes **
**Current Assets**
Cash at bank and in hand
6
Creditors: amounts falling due
within one year
7
**Net current assets**
**Funds**
Unrestricted Fund
Restricted Fund
**Total funds**|**Restricted**
**Funds**
**£**
**42,240**
**42,240**
**(258)**
**41,982**
**-**
**41,982**
**41,982**|**Unrestricted**
**Funds**
**£**
**120,290**
**120,290**
**(258)**
**120,032**
**120,032**
**-**
**120,032**|**2022**
**Total**
**£**
**162,530**
**162,530**
**(516)**
**162,014**
**120,032**
**41,982**
**162,014**|Restricted
Funds
£
32,383
32,383
(252)
32,131
-
32,131
32,131|Unrestricted
Funds
£
124,542
124,542
(252)
124,290
124,290
-
124,290|2021
Total
£
**156,925**
156,925
(504)
156,421
124,290
32,131
156,421|
|---|---|---|---|---|---|---|
|Approved by the Trustees:
Stuart Collins
Sarah H Hillary Lesquerre|Daniel I Dover
Sophia Michael|
|---|---|
Matthew White
The notes on pages 7 to 11 form part of these financial statements
6
## **BDO Charitable Trust**
## **Notes to the financial statements for the period ended 31 March 2022**
## **1 Principal Accounting Policies**
## **(a) Accounting Convention**
The financial statements are prepared under the historical cost convention and in preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) and comply with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011.
## **(b) Donations, legacies and similar income**
Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured with sufficient reliability.
## **(c) Resources expended**
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis.
## **(d) Charitable activities**
Costs of charitable activities include grants made and an apportionment of overhead and support costs where applicable.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-period grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
## **(e) Governance costs**
Governance costs comprise costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.
## **(f)[Taxation]**
The charity is exempt from tax on its charitable activities
## **(g) Funds structure**
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. There is a single restricted fund which receives donations from BDO LLP and is restricted to providing grants to institutions nominated by BDO LLP.
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
7
## **BDO Charitable Trust**
## **Notes to the financial statements for the period ended 31 March 2022**
**----- Start of picture text -----**
Restricted Unrestricted 2022 Restricted Unrestricted 2021
2 Donations Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Donations received 65,000 10,000 75,000 660 - 660
Restricted Unrestricted 2022 Restricted Unrestricted 2021
3 Investment income Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Interest on cash deposits - - - 63 65 128
4 Grants Payable Charity No. 2022 2021
£ £
Action Village India 1118845 500 -
Age UK (Barnet) 1080458 - 500
Air Ambulance Service 1098874 500 -
Alzheimer’s Society 296645 2,000 -
Australian Red Cross - 355 -
Autism Together - 1007878 1,333 97
Big Issue Invest Trust 1042514 - 1,000
Breast Cancer Now SC045584 1,840 -
Breast Cancer Support 1165394 175 -
British Red Cross 220949 - 131
Cancer Research UK 1089464 4,997 172
CDLS - Hope for Hasti 1188769 - 250
Claire House Children's Hospice 1004058 500 -
Clatterbridge Cancer Charity 1051727 500 -
Cool Earth Action 1117978 500 -
Daisys Dream 1177145 3,000 -
Dementia Support 1158640 - 1,000
Dementia UK 1039404 1,000 -
Diabetes UK 215199 500 -
Drive Forward Foundation 1018750 500 500
Felix Fund Bomb Disposal Charity 1142494 - 500
Forgotten Women 1169466 1,350 -
Founder4Schools 1162197 1,000 * -
Friends of Meath School 296077 500 -
Global Giving UK 1122823 861 -
Go Dharmic Welfare UK 1171619 500 -
Graham Layton Trust 290464 500 -
-
Carried Forward 22,911 4,150
**----- End of picture text -----**
8
## **BDO Charitable Trust**
## **Notes to the financial statements for the period ended 31 March 2022**
|**4**
**Grants Payable (continued)**
**Charity No.**
Brought Forward
Heads On
1051736
Helen & Douglas House
1085951
Hospice UK
1014851
Huntingtons Disease Association
296453
Islamic Relief Worldwide
328158
Just A Drop
1100505
Juvenile Diabetes Research Foundation
295716
Little Princess Trust
1176160
London Legal Support
1101906
Macmillan Cancer Support
261017
Marie Curie
207994
Marie Curie
207994
Mind UK
219830
Motor Neurone Disease Association
294356
Movember Europe
1137948
Multiple Sclerosis
1139257
NHS Charities Together
1186569
Oxfam
202918
Pass It On
1191973
Polycystic Kidney Disease Charity
1160970
Prostate Cancer UK
1005541
Pursuing Independent Paths
1088592
Rape and Sexual Abuse Support Centre
1085104
Red Foundation Dachsund Rescue
1181158
Refuweegee
SC046843
Royal Marsden Cancer Charity
4615761
Sands (Stillbirth and Neonatal Death)
299679
Sarcoma UK
1139869
Scots Guard Charity
1174691
Shelter
263710
St Gemmas Hospice
1015941
St George's Hospital Charity
1171195
St Matthew's Project
1140964
Stroke Association
211015
Swimathon Foundation
1123870
Tackle Africa
1137931
Teenage Cancer Trust
1062559
Their Future Today
1136807
Trussell Trust
1110522
Carried Forward|**2022**
**£**
**22,911**
**500**
**500**
**460**
**175**
**500**
**-**
**500**
**1,697**
**500**
**4,494**
**500**
**10,000**
*****
**1,000**
**500**
**6,858**
**1,000**
*****
**-**
**1,500**
**-**
**-**
**780**
**500**
**500**
**500**
**500**
**500**
**500**
**2,624**
**1,000**
*****
**-**
**255**
**500**
**-**
**1,000**
**345**
**230**
**500**
**500**
**500**
**64,829**|**2021**
**£**
4,150
-
-
-
-
-
185
-
-
-
-
-
225
-
-
-
885
-
500
500
500
-
-
-
-
-
-
-
-
882
-
500
500
-
-
-
-
-
-|
|---|---|---|
|||8,827|
9
## **BDO Charitable Trust**
## **Notes to the financial statements for the period ended 31 March 2022**
|**4**
**Grants Payable (continued)**
**Charity No.**
**2022**
**£**
Brought Forward
**64,829**
War Child
1071659
**-**
Winstons Wish
1061359
**1,000**
*****
World Literacy Foundation
1154264
**-**
WWF-UK
1081247
**300**
XLP Research Trust
1111075
**500**
Young Minds
1016967
**2,237**
**68,866**
Previous year donations written back
**-**
**68,866**
The Trustees made distributions to a total of 57 separate charities (2021: 20) during the year.
* Donations made from the unrestricted fund.
**5**
**Support costs**
**2022**
**£**
Independent Examiner's fees
**516**
Legal fees
**-**
Bank Charges
**25**
**541**
The Trustees have not received any reimbursement of expenses or remuneration during the year.
**6**
**Cash at bank and in hand**
**2022**
**£**
Cater Allen Private Bank Charity Account
**179,238**
Less: unpresented cheques
**(16,708)**
**162,530**
**7**
**Creditors: Amounts falling due within one year**
**2022**
**£**
Independent Examiner's Fees
**516**
**516**|**2021**
**£**
8,827
500
-
1,000
-
-
-
10,327
(2,045)
8,282
**2021**
**£**
-
720
-
720
**2021**
**£**
159,425
(2,500)
156,925
**2021**
**£**
504
504|
|---|---|
10
## **BDO Charitable Trust**
## **Notes to the financial statements for the period ended 31 March 2022**
## **8 Trustees' remuneration and benefits**
None of the Trustees have been paid any remuneration or received any other benefits from the Charity (2021 - none).
## **9 Trustees' expenses**
No trustees' expenses were incurred in the year ended (2021 - none).
## **10 Related Parties**
There have been no transactions with persons or entities that are closely connected to the charity or its trustees (2021: none).
## 11 **Going Concern**
The Trustees consider that there are no material uncertaintees about the ability to continue as a going concern.
## 12 **Summary of fund movement**
|**Year ended 31 March 2022**
Restricted Fund
Unrestricted Fund
Total|**Fund**
**balances**
**brought**
**forward**
32,131
124,290
156,421|**Income**
65,000
10,000
75,000|**Expenditure**
(55,149)
(14,258)
(69,407)|**Transfers**
-
-
-|**Gains and**
**Losses**
-
-
-|**Fund**
**balances**
**carried**
**forward**
41,982
120,032
162,014|
|---|---|---|---|---|---|---|
11