BDO Charitable Trust
Financial Statements Year Ended 31 March 2024 Charity No.: 278589
BDO Charitable Trust
Report and Financial Statements for the year ended 31 March 2024
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 Jill Halford (appointed 26 July 2023) Sarah Hillary Lesquerre (retired 26 July 2023) Sophia Michael Matthew White
Principal Office
55 Baker Street, London, W1U 7EU
Independent Examiner
Perrys Audit Limited, 4th Floor, 399-401 Strand, London, WC2R 0LT
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
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BDO Charitable Trust
Report of the Trustees for the year ended 31 March 2024
The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. 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 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 grants made meet this guidance. All grants are listed in note 3 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 (2023 : £16,000) in the year. After grants of £60,233 (2023 : £59,506) funds of £141,451 are available to be carried forward.
The Trustees are satisfied with the state of the Trust's Affairs.
The Trustees' policy is to hold the Trust monies on deposit to ensure sufficient liquidity for the Trust’s foreseeable needs and grants.
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 2024 were £119,620.
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BDO Charitable Trust
Report of the Trustees for the year ended 31 March 2024
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.
Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of 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: 13th February 2025
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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 2024
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
S Hale
Steve Hale FCA,FCCA Perrys Audit Limited
4th Floor 399-401 Strand London WC2R 0LT
Date: 14th February 2025
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BDO Charitable Trust
Statement of Financial Activities for the year ended 31 March 2024
----- Start of picture text -----
Notes Restricted Unrestricted 2024 Restricted Unrestricted 2023
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Income and endowments from
Donations and legacies 2 75,000 - 75,000 16,000 - 16,000
Total 75,000 - 75,000 16,000 - 16,000
Expenditure on
Charitable activities
Activities undertaken 3 55,233 5,000 60,233 55,006 4,500 59,506
Support costs 4 432 432 864 480 480 960
Total 55,665 5,432 61,097 55,486 4,980 60,466
Net income/(expenditure) 19,335 (5,432) 13,903 (39,486) (4,980) (44,466)
Total funds at 1 April 2023 2,496 125,052 127,548 41,982 130,032 172,014
Total funds at 31 March 2024 21,831 119,620 141,451 2,496 125,052 127,548
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All amounts relate to continuing activities.
The notes on pages 7 to 11 form part of these financial statements
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BDO Charitable Trust
Balance Sheet as at 31 March 2024
| Notes Current Assets Cash at bank and in hand 5 Creditors: amounts falling due within one year 6 Net current assets Funds Unrestricted Fund Restricted Fund Total funds |
Restricted Funds £ 22,263 22,263 (432) 21,831 - 21,831 21,831 |
Unrestricted Funds £ 120,051 120,051 (432) 119,619 119,620 - 119,620 |
2024 Total £ 142,315 142,315 (864) 141,451 119,620 21,831 141,451 |
Restricted Funds £ 3,234 3,234 (738) 2,496 - 2,496 2,496 |
Unrestricted Funds £ 125,790 125,790 (738) 125,052 125,052 - 125,052 |
2023 Total £ 129,024 129,024 (1,476) 127,548 125,052 2,496 127,548 |
|---|---|---|---|---|---|---|
Approved by the Trustees on 13th February 2025 and signed on their behalf:
Daniel I Dover
Sophia Michael
The notes on pages 7 to 11 form part of these financial statements
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BDO Charitable Trust
Notes to the financial statements for the period ended 31 March 2024
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.
The accounts (financial statements) have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true 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 of Ireland (FRS102).
(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.
Irrecoverable VAT is recognised as expenditure under the same category as the item it relates to.
(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 employees.
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.
(h) Going concern
The trustees consider that there are no material uncertainties about the ability to continue as a going concern.
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BDO Charitable Trust
Notes to the financial statements for the period ended 31 March 2024
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Restricted Unrestricted 2024 Restricted Unrestricted 2023
2 Donations Funds Funds Total Funds Funds Total
£ £ £ £ £ £
Donations received 75,000 - 75,000 16,000 - 16,000
3 Grants Payable Charity No. 2024 2023
£ £
Acorns Children's Hospice Trust 700859 1,000 -
Action Aid 274467 280 239
All Hands and Hearts (UK) Trust 1139938 500 -
Alzheimer’s Society 296645 1,610 500
AMREF Health Africa 261488 500 -
Atlas Foundation 1161179 - 500
Barnados Childrens Charity 216250 - 500
Beat, Eating Disorders 801343 - 500
BINTI International 1167060 1,923 217
Blood Cancer UK 216032 - 4,300
Blossom Trust 1145318 500 -
Brave Futures 1149327 2,250 -
Bread and Butter Thing 1169383 500 * -
Breast Cancer Now 9347608 500 -
Bridge the Gap - Taxaid 1062852 2,735 -
British Heart Foundation 225971 1,793 -
British Red Cross Society 220949 1,272 -
Cancer Research UK 1089464 5,772 2,223
Cancer Research Wales 1167290 - 500
Chapter One (UK) Ltd 1179625 500 -
Children's Liver Disease Foundation 1067331 500 684
Christie Charitable Fund 1049751 1,000 8,220
Citizens UK 1107264 - 1,000
Clatterbridge Cancer Charity 1051727 160 405
Crimestoppers Trust 1108687 500 -
Crisis 1082947 - 250
Daisys Dream 1177145 - 2,205
Dementia UK 1039404 500 -
Diabetes UK 215199 165 -
Dreams Come True 800248 - 1,000
East Suffolk & North Essex NHS Foundation 1048827 185 -
Endometriosis UK 1035810 - 500
Evelina London Children's Charity 1160316 - 500
Everton in the Community 1099366 - 1,195
Fight for Sight 1111438 - 500
FI's Enrichment Education Support Fund 1182839 - 500
Follicular Lymphoma Foundation 1185091 - 500
Friends of East Harptree School 1021131 420 -
Friends of Invicta Grammar School for Girls 1017514 - 500
Friends of Newberries School 1047300 - 398
Carried Forward 25,065 27,836
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BDO Charitable Trust
Notes to the financial statements for the period ended 31 March 2024
| 3 Grants Payable (continued) Charity No. Brought Forward Get Kids Going 1063471 Give Directly UK 1167938 Great Ormond St Hospital Children's Charity 1160024 Great Ormond St Hospital Children's Charity 1160024 Greater Manchester Mayors Charity 1198852 Grief Encounter 1175837 Guide Dogs for the Blind Association 209617 Haemochromatosis UK 1001307 Hestia 294555 HF Trust Limited 313069 Hospice in the Weald 280276 Hospice UK 1014851 Islamic Relief Worldwide 328158 James Burke Foundation 1177836 K I N D 518985 Kinetic Foundation 1151315 Kings Hill VIPS 1181645 Larsen's Pride 1197746 Lavy Charitable Trust 1199991 Letchmore Road Infant School PTA 1029384 LGBT Foundation 1070904 Livability 1116530 Loughborough University (Opportunity Scholarships) Lullaby Trust 262191 Lymphoma Action 1068395 Macmillan Cancer Support 261017 Manchester Mind 1102058 Many Tears Animal Rescue 1192227 Marie Curie 207994 Mid and South Essex Hospitals 1057266 Mind UK 219830 Mind In The City 283329 Movember UK 1137948 Multiple Sclerosis 1139257 NEST 1107601 Norwood Ravenswood 1059050 NSPCC 216401 Old Bexley C of E Primary School PTA 1091820 Pancreatic Cancer UK 1112708 Parkinsons UK 258197 Phyllis Tuckwell Memorial Hospice 264501 Plumpton Parents Teachers & Friends 1004535 PROPs 1089951 Prostate Cancer UK 1005541 Pursuing Independent Paths 1088592 Refuge 277424 Rennie Grove Hospice Care 1140386 Carried Forward |
2024 £ 25,065 - 220 1,000 * 796 640 - 245 - 2,378 500 1,000 - 5,500 - - 1,000 500 500 500 396 84 500 1,000 500 500 3,530 500 - - - 1,000 315 340 500 - 1,000* - 213 - 500 - 500 500 966 500 *500 500 54,188 |
2023 £ 27,836 500 - - - - 500 - 500 697 - - 1,000 2,604 500 500 - - 500 - - - 1,110 500 500 1,000 * 2,054 - 4,055 - 500 - 500 - 500 - 500 - - 1,500 - 282 - 48,138 |
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BDO Charitable Trust
Notes to the financial statements for the period ended 31 March 2024
| 3 Grants Payable (continued) Charity No. Brought Forward Royal Marsden Cancer Charity 4615761 Royal Mencap Society 222377 RSPCA London East Branch 285472 Sarcoma UK 1139869 Save the Children 213890 Sean's Place CIC - SEWA UK 1135423 Sir Bobby Robson Foundation 1057213 Solihull Carers Centre 1092613 Special Olymics Sunderland 800329 St Andrew Community Network 1105307 St Anne's Association of Parents & Teachers 802786 St Catherine's Hospice 281362 St Columbia's Hospice Care SCO03634 Support Dogs Limited 1088281 Tackle Africa 1137931 Teenage Cancer Trust 1062559 Thames Valley Air Ambulance 1084910 The Grace Dear Trust 1175955 The League of Friends of Teddington Memorial Hospital 1130645 The Lily Foundation 1122071 Trussell Trust 1110522 UK Fund for Charities 1097462 Ummah Welfare Trust 1000851 Unicef UK 1072612 War Child 1071659 WaterAid Limited 288701 Whizz Kidz 802872 Carried Forward Previous year donations written back |
2024 £ 54,188 500 - - - - - 100 - 500 500 500 - - - - - 500 2,000 - - - - 5,000 500 - - - 500 64,788 (4,555) 60,233 |
2023 £ 48,138 500 500 468 500 361 500 - 500 - - 104 500 500 500 500 500 1,000 - 935 500 500 1,000 - - - 500 1,000 - 59,506 - 59,506 |
|---|---|---|
The Trustees made distributions to a total of 67 separate charities (2023: 65) during the year. * Donations made from the unrestricted fund.
| 4 Support costs Independent Examiner's fees Legal fees |
2024 £ 864 - 864 |
2023 £ - 960 960 |
|---|---|---|
The Trustees have not received any reimbursement of expenses or remuneration during the year.
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BDO Charitable Trust
Notes to the financial statements for the period ended 31 March 2024
| 5 Cash at bank and in hand Cater Allen Private Bank Charity Account Less: unpresented cheques 6 Creditors: Amounts falling due within one year Legal Fees Independent Examiner's Fees |
2024 £ 170,295 (27,980) 142,315 2024 £ - 864 864 |
2023 £ 176,101 (47,077) 129,024 2023 £ 960 516 1,476 |
|---|---|---|
7 Trustees' remuneration and benefits
None of the Trustees have been paid any remuneration or received any other benefits from the Charity (2023 - none).
8 Trustees' expenses
No trustees' expenses were incurred in the year ended (2023 - none).
9 Related Parties
The trustees of the Charity were all separately members of BDO LLP as at 31 March 2024. During the year BDO LLP made donations to the Charity totalling £75,000 (2023 - 16,000).
10 Summary of fund movement
| Year ended 31 March 2024 Restricted Fund Unrestricted Fund Total Year ended 31 March 2023 Restricted Fund Unrestricted Fund Total |
Fund balances brought forward 2,496 125,052 127,548 41,982 130,032 172,014 |
Income 75,000 - 75,000 16,000 - 16,000 |
Expenditure (55,665) (5,432) (61,097) (55,486) (4,980) (60,466) |
Transfers - - - - - - |
Gains and Losses - - - - - - |
Fund balances carried forward 21,831 119,620 141,451 2,496 125,052 127,548 |
|---|---|---|---|---|---|---|
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