OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-11-30-accounts

The Richard Davies Charitable Foundation Charity Registration No. 279380

Trustees' report and unaudited accounts For the year ended 30 November 2024

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
Clare L Worsfold (appointed 1 June 2024)
Date of Foundation 30 November 1979
Charity Number 279380
Principal Address 76 Wollaton Road
Ferndown
Dorset
BH22 8QY
Accountants S&W 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 plc
250 Bishopsgate
London
EC2M 4AA
Investment Manager Evelyn Partners Investment Management LLP
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.

The Richard Davies Charitable Foundation Trustees' report for the year ended 30 November 2024

The trustees present their report and accounts for the year ended 30 November 2024. 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) (e ff ective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The governing document is the original settlement deed dated 30 November 1979 and amended and restated deeds dated 18 April 2008 and 14 May 2023.

Trustees

The trustees who served during the year were: Janet M Coles Malcolm R Coles Kim L Coles Clare L Worsfold (appointed 1 June 2024)

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 £1,317,864 (2023 £1,201,870) and cash of £992 (2023 £3,545). The assets representing the unrestricted funds is cash of £31,052 (2023 £40,068).

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.

The Richard Davies Charitable Foundation

Trustees' report for the year ended 30 November 2024

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 made grants and donations totalling £45,305 (2023 £45,207) as detailed in note 2. The trustees' aim is to make donations of at least 70% of income each year (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 (Jun 6, 2025 08:18 GMT+1)

........................................

Malcolm R Coles

Trustee

06/06/2025

Dated: ........................................

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:

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.

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 2024 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 (Jun 6, 2025 13:43 GMT+1) Simon J L Ellingham

..............................................

Simon Ellingham FCA

Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR

Dated: 06/06/2025

The Richard Davies Charitable Foundation

Statement of fi nancial activities for the year ended 30 November 2024

Unrestricted
Permanent
Funds Endowment
NotesPage
£
£
Income
Investment income
37,099
-
Total income
37,099
-
Expenditure
Costs of generating funds
Investment management fees
-
(11,042)
LEI fee
-
(72)
Charitable expenditure
Grants payable
2
(45,305)
-
Governance costs
Accountancy fees
(1,063)
(1,062)
Independent examiner's fees
(570)
(570)
Total expenditure
(46,938)
(12,746)
Gains/(losses) on investment assets
5
-
126,852
Net movement in funds before
transfers
(9,839)
114,106
Net transfers between funds
744
(744)
Net movement in funds
(9,095)
113,362
Fund balances at 1 December 2023
38,543
1,203,890
Fund balances at 30 November 2024
7
29,448
1,317,252		 Total
2024
£
37,099
37,099
(11,042)
(72)
(45,305)
(2,125)
(1,140)
(59,684)
126,852
104,267
-
104,267
1,242,433
1,346,700		 Total
2023
£
42,619
42,619
(10,801)
(72)
(45,207)
(1,970)
(1,080)
(59,130)
(48,520)
(65,031)
-
(65,031)
1,307,464
1,242,433

The Richard Davies Charitable Foundation

Balance sheet as at 30 November 2024

Unrestricted
Permanent
Funds
Endowment
Notes
£
£
Fixed assets
Investments
5
-
1,317,864
Current assets
Cash at bank and in hand
31,052
992
31,052
992
Liabilities
Creditors: amounts falling due within
one year
6
(1,604)
(1,604)
Net current assets
29,448
(612)
Total assets less current liabilities
29,448
1,317,252
Represented by
Unrestricted Funds
Permanent Endowment		 Total
2024
£
1,317,864
32,044
32,044
(3,208)
28,836
1,346,700
29,448
1,317,252
1,346,700		 Total
2023
£
1,201,870
43,613
43,613
(3,050)
40,563
1,242,433
38,543
1,203,890
1,242,433

06/06/2025

The accounts were approved by the trustees and authorised for issue on ................................... and were signed on their behalf by:

Malcolm Coles

Malcolm Coles (Jun 6, 2025 08:18 GMT+1)

..............................

Malcolm R Coles

Trustee

The Richard Davies Charitable Foundation

Notes to the accounts for the year ended 30 November 2024

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) (e ff ective 1 January 2019) and the Charities Act 2011.

The charity constitutes 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

Grants made are accounted for when the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant. 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.

The Richard Davies Charitable Foundation

Notes to the accounts for the year ended 30 November 2024

2 Grants payable

The following grants and donations were made during the year.

The following grants and donations were made during the year.
Autism Unlimited (Portfeld School)
Avonmouth Bowls Club
Bristol After Stroke
Cerebral Palsy Plus
Country Men UK
Diverse Abilities
Education Development Trust
Ferndown Upper School
Gorsemoor Cub/Scout Group
Great Western Air Ambulance
Hope Housing, Training and Support Limited
Kinson Short Mat Bowling Club
Life Cycle
London Youth Rowing
Marmalade Trust
Mission Christmas
Mosaic
MYTime Young Carers
Parley First School
Read for Good
ReMap
Shirehampton CA Forum
Sight Support
SOFA Project
Somerford Youth & Community Centre
St Chad's Patchway School
Stable Family Home Trust
Step By Step
Swim Bournemouth
The Dorset Children's Foundation
The Green Gram
The Jessie May Trust
The Silver Line
The Women's Work Lab
Western Downland Primary School
Wimborne RFC
Grants below £100		 2024
£
3,000
-
-
2,000
2,000
2,000
2,600
-
(1,000)
5,000
3,000
-
-
1,500
2,000
106
2,000
-
-
2,000
5,000
4,000
2,000
2,000
-
491
2,000
-
1,594
-
-
-
-
-
2,000
-
14
45,305		 2023
£
-
1,000
2,000
-
-
-
-
5,000
2,000
-
2,500
1,000
2,000
-
-
187
-
2,000
5,520
-
-
-
-
2,000
2,000
-
2,000
2,000
-
3,000
2,000
3,000
2,000
2,000
-
2,000
-
45,207

3 Trustee remuneration

The trustees do not receive remuneration from the charity.

The Richard Davies Charitable Foundation

Notes to the accounts for the year ended 30 November 2024

4 Employees

There were no employees during the year (2023 - none).

5
Investments
Quoted investments
Market value at 1 December 2023
Acquisitions at cost
Sale proceeds from disposals
Gains/(losses) on investment assets
Market value at 30 November 2024
Investments at market value comprised:
Investments within the UK
Investments outside the UK
Historic cost carried forward		 2024
£
1,201,870
243,629
(254,487)
126,852
1,317,864
681,900
635,964
1,317,864
1,002,026		 2023
£
1,261,644
153,531
(164,785)
(48,520)
1,201,870
755,294
446,576
1,201,870
1,015,482

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 at the year ended 30 November 2024.

The investment gains in the Statement of fi nancial activities include unrealised gains of £129,034 (2023: losses of £69,193) and realised losses of £2,183 (2023: gains of £20,673).

6
Creditors: amounts falling due within one year
Accountancy fees
Independent examiner's fees		 2024
£
2,098
1,110
3,208		 2023
£
1,970
1,080
3,050