## **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
1
## **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.
2
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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
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 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:
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.
## S Hale
Steve Hale FCA,FCCA **Perrys Audit Limited**
4th Floor 399-401 Strand London WC2R 0LT
Date: 14th February 2025
4
## **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
**----- 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 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
6
## **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.
7
**BDO Charitable Trust**
## **Notes to the financial statements for the period ended 31 March 2024**
**----- Start of picture text -----**
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
**----- End of picture text -----**
8
## **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|
|---|---|---|
9
## **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.
10
## **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|
|---|---|---|---|---|---|---|
11