The Richard Davies Charitable Foundation Charity Registration No. 279380 Trustees' report and unaudited accounts For the year ended 30 November 2022 ## The Richard Davies Charitable Foundation Contents ||Page| |---|---| |Legal and administrative information|1| |Trustees' report|2 - 3| |Statement of trustees' responsibilities|4| |Independent examiner's report|5| |Statement offnancial activities|6| |Balance sheet|7| |Notes to the accounts|8 - 10| ## The Richard Davies Charitable Foundation ## Legal and administrative information The Foundation was established by Deed of Trust on 30 November 1979 and registered with the Charity Commissioners, number 279380 in March 1980. |Trustees|Janet M Coles| |---|---| ||Malcolm R Coles| ||Kim L Coles| |Date of Foundation|30 November 1979| |Charity Number|279380| |Principal Address|76 Wollaton Road| ||Ferndown| ||Dorset| ||BH22 8QY| |Accountant|Evelyn Partners LLP| ||Old Library Chambers| ||21 Chipper Lane| ||Salisbury| ||Wiltshire| ||SP1 1BG| |Independent Examiner|Simon Ellingham FCA| ||Fawcetts LLP| ||Chartered Accountants| ||Windover House| ||St Ann Street| ||Salisbury| ||Wiltshire| ||SP1 2DR| |Banker|Natwest Bank| ||57 High Street| ||Christchurch| ||Dorset| ||BH23 1BB| |Investment Manager|Evelyn Partners Investment Management| ||Portwall Place| ||Portwall Lane| ||Bristol| ||BS1 6NA| The object of the Foundation is to apply its income to general charitable purposes, at the discretion of the trustees. The trustees have determined that the bene fi t of their giving shall be applied principally in the Bristol area but have placed no restrictions on its purposes. - 1 - ## The Richard Davies Charitable Foundation Trustees' report for the year ended 30 November 2022 The trustees present their report and accounts for the year ended 30 November 2022. The accounts have been prepared in accordance with the accounting policies set out in note 1 and comply with 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 (FRS102) published on 16 July 2014. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document The governing document is the original settlement deed dated 30 November 1979 and an amended and restated deed dated 18 April 2008. ## Trustees The trustees who served during the year were: Janet M Coles Malcolm R Coles Kim L Coles Nigel Stone (resigned 5 January 2023) On the deaths of Richard and Kathleen Davies, the power of appointment and removal has been vested in Janet Coles during her lifetime and thereafter to such of her children as she shall designate. Thereafter power shall continue to pass in each generation. The appointers shall ensure that there are no fewer than three trustees. ## Risk management The trustees have assessed the major risks to which the Foundation is exposed, in particular those related to the return on investments, and are satis fi ed that systems are in place to mitigate their exposure to major risks. ## Related parties There are no related parties. ## Permanent endowment and fund structures policy The permanent endowment represents the capital value of the assets originally used to set up the Foundation and it is intended that these funds are to remain invested and only the income is available to be paid or applied to or for such charitable objects or purposes as the trustees think fi t. The assets representing the permanent endowment consists of quoted investments with a market value of £1,261,644 (2021 £1,365,035) and cash of £4,716 (2021 £4,965). The assets representing the unrestricted funds is cash of £45,648 (2021 £38,922). ## Unrestricted fund The trustees apply the unrestricted fund for the general purposes of the Foundation as set out in the governing document. ## OBJECTIVES AND ACTIVITIES ## Objectives and aims The object of the Foundation is to apply its income to general charitable purposes, at the discretion of the trustees. The trustees have determined that the bene fi t of their giving shall be applied principally in the Bristol area but have placed no restrictions on its purposes. - 2 - ## The Richard Davies Charitable Foundation ## Trustees' report for the year ended 30 November 2022 ## Public bene t The trustees con fi rm that they have referred to the guidance contained in the Charity Commission's general guidance on public bene fi t when reviewing the Foundation's aims and objectives and setting its grantmaking policies. The trustees regularly receive donation requests which are considered periodically throughout the year. ## FINANCIAL REVIEW ## Grantmaking The Statement of Financial Activities is set out on page 6. During the year the trustees donated £36,321 (2021 £39,100 ) as detailed in note 2. The trustees' aim is to maintain donations out of income at least 70% (in real terms) subject to market conditions and without taking unacceptable risk. ## Reserves policy The trustees believe that the reserves are su ffi cient for current purposes and these are reviewed on a regular basis. ## Investment powers and policy There are no restrictions on the trustees' powers to invest. The trustees have delegated under section 11 of the Trustee Act 2000 full discretionary powers to the Investment Managers. Their policy is to seek to maximise total return, whilst maintaining the real value of the portfolio and not subjecting it to undue risk. The trustees review the Investment Managers at their meetings, and their policy at least annually. On behalf of the board of trustees ## Malcolm Coles ........................................Malcolm Coles (Jul 31, 2023 09:45 GMT+1) ## Malcolm R Coles Trustee 31/07/2023 Dated: ........................................ - 3 - ## The Richard Davies Charitable Foundation ## Statement of trustees' responsibilities The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare accounts for each fi nancial year which give a true and fair view of the state of a ff airs of the Foundation and of the income resources and application of resources of the Foundation for that year. In preparing these accounts, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standard have been followed subject to any material departures disclosed and explained in the accounts; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping su ffi cient accounting records that disclose with reasonable accuracy at any time the fi nancial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (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. - 4 - ## The Richard Davies Charitable Foundation ## Independent examiner's report to the trustees of The Richard Davies Charitable Foundation I report to the trustees on my examination of the accounts of The Richard Davies Charitable Foundation for the year ended 30 November 2022 which comprise the statement of fi nancial activities, the balance sheet and the notes to the accounts, including a summary of signi fi cant accounting policies. ## Respective responsibilities of trustees and examiner and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I con fi rm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity 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. I 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. ## Simon J L Ellingham Simon J L Ellingham (Jul 31, 2023 09:51 GMT+1).............................................. ## Simon Ellingham FCA Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR Dated: 31/07/2023 - 5 - ## The Richard Davies Charitable Foundation ## Statement of fi nancial activities for the year ended 30 November 2022 |Unrestricted
Permanent
Funds Endowment
NotesPage
£
£
Income
Investment income
44,738
-
Total income
44,738
-
Expenditure
Costs of generating funds
Investment management fees
-
(11,670)
LEI fee
-
(72)
Administration expenses
-
(300)
Charitable expenditure
Grants payable
2
(36,321)
-
Governance Costs
Accountancy fees
(892)
(892)
Independent examiner's fees
(540)
(540)
Total expenditure
(37,753)
(13,474)
(Losses)/gains on investment assets
5
-
(93,289)
Net movement in funds before
transfers
6,985
(106,763)
Net transfers between funds
(1,691)
1,691
Net movement in funds
5,294
(105,072)
Fund balances at 1 December 2021
38,082
1,369,160
Fund balances at 30 November 2022
7
43,376
1,264,088|Total
2022
£
44,738
44,738
(11,670)
(72)
(300)
(36,321)
(1,784)
(1,080)
(51,227)
(93,289)
(99,778)
-
(99,778)
1,407,242
1,307,464|Total
2021
£
41,694
41,694
(16,615)
(72)
-
(39,100)
(1,740)
-
(57,527)
117,534
101,701
-
101,701
1,305,541
1,407,242| |---|---|---| - 6 - ## The Richard Davies Charitable Foundation ## Balance sheet as at 30 November 2022 |Unrestricted
Permanent
Funds
Endowment
Notes
£
£
Fixed assets
Investments
5
**-**
1,261,644
Current assets
Cash at bank and in hand
45,648
4,716
45,648
4,716
Liabilities
Creditors: amounts falling due within
one year
6
(2,272)
(2,272)
Net current assets
43,376
2,444
Total assets less current liabilities
43,376
1,264,088
Represented by
Unrestricted Funds
Permanent Endowment|Total
2022
£
1,261,644
50,364
50,364
(4,544)
45,820
1,307,464
43,376
1,264,088
1,307,464|Total
2021
£
1,365,035
43,887| |---|---|---| |||43,887
(1,680)| |||42,207| |||1,407,242| |||38,082
1,369,160| |||1,407,242| 31/07/2023 The accounts were approved by the trustees and authorised for issue on ................................... and were signed on their behalf by: ## Malcolm Coles Malcolm Coles (Jul 31, 2023 09:45 GMT+1).............................. Malcolm R Coles Trustee - 7 - The Richard Davies Charitable Foundation Notes to the accounts for the year ended 30 November 2022 ## 1 Accounting policies ## 1.1 General information The Richard Davies Charitable Foundation is an unincorporated trust, registered with the Charity Commission in England & Wales (No. 279380). The address of the registered o ffi ce is 76 Wollaton Road, Ferndown, Dorset, BH22 8QY. ## 1.2 Basis of preparation These accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Charities Act 2011. The charity constitues a public bene fi t entity as de fi ned by FRS102. ## 1.3 Fund accounting The funds held are the unrestricted funds and the permanent endowment funds. The permanent endowment funds represent the capital value of the assets originally used to set up the Foundation. It is intended that these funds are to remain invested and only the income is available to be paid or applied to or for such charitable objects or purposes as the trustees think fi t. The remaining net assets are held in the unrestricted fund. ## 1.4 Incoming resources Income is recognised in the period in which the trust is entitled to receipt and the amount can be measured with reasonable certainty. Investment income is accounted for on its receipt and is shown net of any tax deduction. ## 1.5 Resources expended Donations made are accounted for on payment. Other expenditure is recognised when incurred. Where an item of expenditure falls directly within one cost category, it is attributed to that category only. Where expenditure involves more than one category it is apportioned on a reasonable and justi fi able basis. ## 1.6 Investments Investments are shown at their market value at the balance sheet date. All investments held are quoted on a recognised stock exchange. Realised and unrealised gains and losses on investments are included in the statement of fi nancial activities in the period in which they arise. ## 1.7 Financial instruments The charity only enters into basic fi nancial instrument transactions that result in the recognition of fi nancial assets and liabilities like debtors and creditors and loans from related parties. - 8 - The Richard Davies Charitable Foundation ## Notes to the accounts for the year ended 30 November 2022 ## 2 Grants payable The following grants and donations were made during the year. |The following grants and donations were made during the year.||| |---|---|---| |Above & Beyond
Bournemouth CC
Bournemouth Guides
Bristol After Stroke
Bus Stop Club
Churchill Foundation
Diverse Abilities
Dor PIP
Engineering Development Trust
Ferndown Upper School
Friends of 3 Legged Cross School
HOPE Bournemouth
JM Children's Hospice
Lifecycle
Lifeskills
PramaLife
Roald Dahl Marvellous Children's Charity
Shirehampton CA Forum
Silver Line
SOFA Project
Southmead Hospital
Stable Family Home Trust
St Chad's Patchway School
The Mobility Trust
Vale Pantry
Wimborne Bowls Club
Wimborne RFC
1625 Independent People|2022
£
-
3,000
-
2,000
4,000
-
-
3,000
2,000
-
4,000
-
-
-
-
-
2,000
4,000
-
2,000
-
2,000
321
-
4,000
1,000
3,000
-
36,321|2021
£
3,000
-
500
-
2,000
1,000
2,000
-
-
5,000
-
2,000
2,000
1,000
3,000
4,000
-
-
3,000
2,000
2,000
-
400
1,200
-
-
-
5,000| |||39,100| ## 3 Trustee remuneration The trustees do not receive remuneration from the charity. ## 4 Employees There were no employees during the year (2021 - none) - 9 - ## The Richard Davies Charitable Foundation ## Notes to the accounts for the year ended 30 November 2022 |5
Investments
Quoted investments
Market value at 1 December 2021
Acquisitions at cost
Sale proceeds from disposals
(Losses)/gains on investment assets
Market value at 30 November 2022
Investments at market value comprised:
Investments within the UK
Investments outside the UK
Historic cost carried forward|2022
£
1,365,035
95,007
(105,109)
(93,289)
1,261,644
794,877
466,767
1,261,644
1,006,080|2021
£
1,251,664
76,583
(80,746)
117,534| |---|---|---| |||1,365,035| |||841,664
523,371| |||1,365,035| |||| |||994,778| The above investments comprise fi xed interest securities and equities. There were no investments which individually represent in excess of 5% of the total market value in the year ended 30 November 2022. The investment losses in the Statement of fi nancial activities include unrealised losses of £118,266 (2021: gains of £103,108) and realised gains of £24,977 (2021: £14,426). |6
Creditors: amounts falling due within one year
Accountancy fees
Independent examiner's fees|2022
£
3,464
1,080
4,544|2021
£
1,680
-| |---|---|---| |||1,680| - 10 -