DocuSign Envelope ID: 56AB366E-C6FF-44A1-A59B-4C72002BBC09
## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT AND ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2023**
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES**
**For the year ended 31 March 2023**
The William Belmer Rush Foundation was established on the 5 June 1964 under a Declaration of Trust by Miss W.V. Rush to promote the advancement of education with particular emphasis on assisting past and present pupils of Muntham House School in Horsham, Sussex in whatever way the Trustees think fit. Later Miss Rush requested in writing that the Trustees use income from the Foundation to support the work of Barnardo’s and Save the Children.
## **Objectives & Aims**
The Foundation’s objectives remain the same as specified by Miss Rush:
- To promote the advancement of education with particular emphasis on assisting past and present pupils of Muntham House School in whatever way the Trustees think fit; and
- To use income from the Foundation to support the work of Barnardo’s and Save the Children in whatever way the Trustees think fit.
The Trustees’ investment policy to fulfil this objective is by maximising income whilst trying to ensure capital value is not eroded, especially by inflation. The Foundation is an endowed charity that empowers the Trustees to distribute the investment income but not the capital.
## **Financial Review**
The attached accounts show that the Foundation received a total of £80,149 (2021/22: £78,059) and authorised grants totalling £73,887 (2021/22: £73,967). The total current value of the investments has decreased 6% during the year to 31 March 2023. Income from investments has increased by 2.7% (2021/22 increase 3.3%). Analysis of the changes for the individual investment vehicles is given in note 4 to the Accounts. All income is received gross of tax.
The current split of the capital investment as shown against the approved optimum split is shown below:
|**Optimum split**|**At 31 March 2023**|**At 31 March 2023**|
|---|---|---|
|70%|Investment Fund|83.9%|
|25%|Property Fund|15.9%|
|5%|Deposit Account (Capital)|0.2%|
The current split of capital investments is not currently aligned to the optimum split; this will be considered by the Trustees at the forthcoming AGM.
The Trustees distribute the income received as shown below. These amounts are distributed after the close of the financial year and will be applied by the beneficiary charities during the financial year ending 31 March 2024.
|
ending 31 March 2024.|||||
|---|---|---|---|---|
|||**2022/23**||**2021/22**|
|Save the Children UK|33.3%|£24,629|33.3%|£24,655|
|Barnardo’s|33.3%|£24,629|33.3%|£24,656|
|Muntham House School|33.3%|£24,629|33.3%|£24,656|
The Board of Trustees have agreed an equal split between the three beneficiary charities for the 2022-2023 grant distributions. This will be ratified at their 2023 general meeting on the balance sheet date.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
## **Reserves Policy**
Current year expenditure is met out of current year income (mostly from the endowment fund) and, after providing for accrued expenditure, the remaining surplus is disbursed to the beneficiary charities as detailed above. As the charity does not have any employee or property commitments, then it is unnecessary to hold reserves. The balance sheet therefore shows that the net assets comprise only the value of the endowment fund – and thus reserves are nil.
## **Achievements and Performance**
The 2021/22 distributions were used to facilitate the following projects as explained by the beneficiaries.
## **SAVE THE CHILDREN UK**
In 2022, the generous grant received from the William Belmer Rush Foundation, has been used to support a key programme in Tanzania.
The main aim of this project was to improve early learning, increase enrolment of ECCD learners and ECCD teachers and facilitators’ capacity to use play-based teaching and learning approaches to improve children wellbeing and resilience.
At the beginning of the project, we organised consultations with children, parents, caregivers and teachers to discuss on Play means, its benefits to children’s learning and development, and suggested next steps for increasing the use of Play in education and protection activities.
Save the Children organised consultations with children, parents, carers, and teachers at the start of the project to discuss what play is, the benefits of play to a child's learning and development and suggested next steps for increasing the use of play in education and protection activities.
The project assists parents and carers in:
- meeting the challenges of parenting,
- developing positive and playful relationships with their children
- and promoting their development through various play strategies
Target communities- The program was implemented in Nyarugusu and Nduta refugee camps where SC has interventions for children in the 11 Child-Friendly Spaces (CFS) where ECCD and children’s activities are implemented. The programme targeted 2,000 children age 3-5 year children who are in need of quality education services in the ECCD centers. The project will ensure children’s access to play-based learning opportunities that support their age-appropriate holistic development, including literacy, numeracy and socio-emotional skills. The project will enhance the learning process of children by creating a conducive environment in their schools and homes.
Activities include:
1. Organise awareness events with parents to discuss what play means for child development
During the programme implementation Save the Children carried out training with 856 parents and caregiver (532 female and 324male). These training aimed to equip these individuals with knowledge on how to support early learning and interaction at home environment.
Four awareness meetings were held, which revealed that most parents struggle to balance work, childcare, and self-care. Through these meeting we helped parents to find ways they could manage their time in a way which is manageable for them while also working to support the early learning and development of their children home. Some interventions taught to the parents and caregivers including helping them to establish daily routines, teaching them playful learning activities, and providing them with low cost resources/materials.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
We also procured 6 banners and 12 posters each which displayed messages and advice to parent and caregivers on how to work with their children. These resources were printed in the Kirundi language and displayed at our Save the Children learning centres- including 10 ECCD and 7 schools.
2. Conduct parenting sessions for caregivers/parents through community awareness raising events with particular attention on child safeguarding and building positive playful relationships with their children for effective children development.
Two parent awareness campaigns were conducted to mobilise parents, caregivers and the wider community on children's early learning, social care, and interaction in the home environment. Alongside these meeting we provided learning and information materials, including banners and posters, which focused of sharing information on positive parent-child interaction and how parents can support children's development. To develop these materials, we held events at ECCD learning centres where parents could come and develop their own designs. The parents who develop the best materials were then awarded with in-kind materials such as soap, petroleum jelly, and stationery.
The events aimed to promote parent-child interaction while also strengthening relationships between parents and teachers. Safeguarding materials such as banners and posters were also printed and displayed in all 17 of Save the Children learning centres to strengthen awareness of safeguarding and ensure children access quality and safe learning environment.
3. Design, develop and distribute tool kits and play materials for use at home with messages on positive parenting/parenting without violence, appropriate health and nutrition, hygiene practices including handwashing practices, good health behaviours in times of COVID 19.
During this project we printed age-appropriate teaching and learning materials to assist children in their learning at home. We purchased and circulated 456 curriculum-based textbooks, which support early literacy and numeracy skills and the smooth transition from ECCD to primary schools. The distribution of books addressed was vital in improving the provision of quality learning activities, as prior to the project these communities lacked new curriculum textbooks.
We also purchased age appropriate and gender responsive ECCD play materials to support PSS (Psychosocial Support and Services) and active teaching and learning activities in learning centres, such as balloons, tennis balls, and small balls, as well as hygiene materials to promote hygiene.
4. Organise capacity building for staff, teachers, parents, caregivers on use of Play within a specific theme/ age-group and gender specific context.
25 (11 female and 14 male) Save the Children staff were trained on play-based methodologies- equipped our staff with knowledge on parenting through playful activities. Through this training, staff learnt on how parents and carers can support their young child's physical, cognitive, and social-emotional development, focusing specifically on age-appropriate interventions for children 0 to 6 years of age.
Our staff then cascaded this training down to an additional 89 teachers and carers (38 female and 51 male), who also conducted parenting sessions for parents and primary carers on supporting the early learning and development of children from birth to 6 years. During these trainings and sessions, low- or no-cost playing materials and toys developed.
5. Train teachers (ECCD & Lower grades 1-3) on using interactive digital instruction in teaching and learning in schools to integrate environment, inclusiveness, climate change, child safeguarding and gender aspects
133 ECCD and grade one teachers (45 female and 88 male) were trained on a digital learning platform which aids classroom supervision and management.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
- Teachers were to ensure equal access to learning opportunities by using gender responsive and inclusive teaching and learning methodologies.
- Teachers were educated on the climate crisis, its effects on children and how they can advocate for a climate response that cares for all children and protects their future.
- Finally teachers trained on disaster risk management and how to support children and parents and carers to be aware and respond to climate change.
In addition, training was also given on referral pathways and reporting safeguarding issues. This increase teachers knowledge and ability to report the safeguarding issues through suggestion boxes, a toll-free phone call or to a Save the Children focal person.
6. Creation of video clips on play-based contents focusing on inclusiveness, climate change and gender aspects to children and parents using Ideas box.
Save the Children ensured that children learned about gender, climate, and inclusiveness through the digital platform- Ideas Box program- which uses a play-based approach to learning.
Thank you to the trustees of the William Belmer Rush Foundation. Together we are changing lives of children in Tanzania, helping them to learn through play so they can flourish and be who they want to be.
## **BARNARDO’S**
The grant received from the William Belmer Rush Foundation in 2022 has been used to support our Employment Training and Skills Programme in Scotland.
## **Scotland ETS Overview**
Barnardo’s Employment, Training and Skills services in Scotland has worked with 1100 young people in the last year, supporting them to make effective transitions into work, apprenticeships and into further education.
Our services are delivered across 14 Local Authority areas that cover a huge area of Scotland. Aberdeen, Aberdeenshire, Dundee, Highlands, Moray, Angus, Perth and Kinross, Edinburgh, Fife, Midlothian, East Lothian, Glasgow, North Ayrshire and Renfrewshire.
We work with young people to deliver employability and skills support, access to apprenticeships, and they receive 1-1 mentoring and wrap around support. Barnardo’s work with those who have experienced adverse childhood experiences, and in some cases extreme trauma, some of them require more time and support in order to get into Education, Employment or Training.
In 2022-23 we provided over 1155 training places in our front-line services and supported 662 young people to achieve a qualification that helped them improve their readiness for work and move in to work.
At Barnardo’s we work with the hardest to reach young people, those who are furthest away from the job market, young people aged between 16 and 24 who face multiple and complex barriers to finding employment. We work closely with them to help them find and sustain employment. Barnardo’s have focused our provision on young people facing complex barriers who we know need additional support.
This includes:
- Care leavers: 21% of young people we have supported disclosed having a lived experience of being in care
- Young people with learning difficulties: 34% of young people we have supported disclosed a form of learning disability, mainly low to moderate.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
- Young people with mental health issues: 44% of young people we have supported disclosed mental health issues, mainly low to moderate.
Our focus is on developing strong trusted relationships with young people and getting to understand where they are on their journey into employment. We take a holistic approach to this, understanding not just the support they need to obtain employment but also understand the wider pastoral needs and issues the young person may need support with for example, Housing, Money Management and Substance misuse. The support we deliver is tailored to suit each young person’s individual needs.
## **Helping Young People to gain qualifications**
As an approved Scottish Qualifications Authority (SQA) approved centre Barnardo’s ETS Scotland delivers a wide range of qualifications for young people. Our SQA Co-ordinator leads our services in ensuring the delivery of qualifications for young people meet the required quality standards and this role also helps us to develop new qualification which we can deliver, which are tailored to suit employer and sector entry requirements.
ETS Scotland also enables young people to access qualifications that are sector specific and meet specific job role requirements. For example, CSCS certificate for working in Construction, Food Hygiene certificate and Manual Handling. One young person was even supported to gain a Tractor Driving qualification which demonstrates the wide flexibility we can bring to help young people move towards securing employment.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
## **Qualifications achieved by young people**
In 2022-23 we delivered over 156 SQA related qualifications. These are broken down as follows:
Our services also supported the achievement of a wide range of other vocational and personal development courses that were not SQA approved. These courses add value and help us provide a holistic approach to meeting the needs of both young people and employers.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
This graph demonstrates the volumes of the most popular of these courses
**Case Studies**
Intro to Construction Course,
Delivered by Barnardo’s Works in conjunction with Chap Construction
Our programme was designed in collaboration with Chap Construction, who also jointly delivered key elements of our programme. One common goal for all, was they wanted to find out more about working in Construction Industry. In Aberdeen eleven young people aged 16-20 years old attended this course.
Our 8-week course covered a range of employability skills and gave young people an understanding of the range of roles in the sector.
Key to the delivery was also providing a tutor who would deliver the SQA Accredited REHIS Elementary Health and Safety in a Construction Environment course. This course is the first step in allowing young people to apply for a CSCS card to work in Construction.
Employer engagement was key to the success of the programme and talks included Site Managers from key Construction Companies talking about their own journeys. This was really interesting for our Group to hear that they came from a range of backgrounds and had overcome barriers themselves. The Group also completed a full week’s work experience on-site at sites run by Chap in Aberdeen. This was invaluable real experience for them to get a taste of labouring and working with a range of trades including joiner, electrician, and plumbers etc.
After learning more about working onsite we started their CSCS Card Training and issued them all with the App to help them study. Before the programme had even ended three young people had secured employment within the Construction Industry. The remaining are currently being supported to complete their CSCS card and are ether keen to secure employment within the construction industry or are being supported to apply for a job in a different sector.
## • **Access To Trades Case Study**
CG is a young person that was referred to Barnardo’s works Inverness in December 2022, via our partners at Skills Development Scotland for our new ‘Access to Trades’ program. CG was a recent school leaver with few formal qualifications but wanted to explore structural engineering as a career path.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
Upon meeting CG for the first time, it was clear that he was an intelligent, positive and eager young man but unfortunately lacked confidence, self-belief and social skills. Initially I suggested CG to join one of our ‘pre-employability’ programs to help develop these skills and qualities before joining the ‘Access to Trades’ group but he was determined to join. CG was very quiet and closed off when he first joined the group however by the end of the week he had started coming out of his shell and engaging in conversation and group work with his peers.
CG’s drive to pursue his chosen career path was so evident when completing the Personal Development- Self and Work unit from the Certificate of Work Readiness qualification. He was raising his hand to answer questions, engaging in group conversations and activities, laughing and even making jokes with the others in the group. This carried into the following weeks and CG’s initial ‘barriers’ were being torn down by his willingness to strive. CG then went onto complete MyBnk’s – Money Works qualification.
The next big step for CG was to obtain his CSCS card. In order to be booked onto the CSCS card test CG would have to complete the mandatory 1 day ‘Health and Safety in a working environment’ test. This is a very similar text to the CSCS card test in which you have to achieve a pass rate of 90% out of 50 questions. CG took it upon himself to revise and practice for this test out with his time at Barnardo’s. When it came to the day of the test CG was nervous however he was determined to pass. Not only did CG pass this test but he then applied the same amount of effort at home and in his own time as he was during the group and went on to achieve 100% in his CSCS card test.
Upon completion of the course and successfully passing all 4 of these qualifications CG went for a 2 week work experience placement with GA Barnies which are a highland based construction firm. CG was then offered a full time apprenticeship with GA Barnies and is currently thriving.
## • **Third Case Study**
AM was referred to Barnardo’s Works by the DWP. AM began her journey on our parental support program. AM had became a first time mum to her daughter and found motherhood to be exciting, wonderful and stressful all mixed into one.
AM struggled with anxiety and the first thing we set out was to build her confidence by listing goals she would like to achieve that year. One of her goals was to start college so as a first step AM began an SQA qualification ‘First steps into Employment’ that gave her focus and a target to work towards with Barnardo’s.
After achieving this qualification AM was ready top prepare for her application to a Barbering course at the University of Highlands and the Islands ( UHI) . Barnardo’s supported AM with her application and her interview preparation. AM was successful and has accepted the Barbering course that begins in August. AM is excited to start her new career and looking forward to the future.
## **MUNTHAM HOUSE SCHOOL**
The School has had another successful year as we recover from the impact of Covid. We were not forced to close and found that the measures we put in place for on-line learning and the ‘Bubble Covid safe system’ in the previous year had been successful in that the amount of catch-up required was much less than most other schools. One of our Post 16 pupils who is Looked-after, was accepted by the University of Brighton. This was a remarkable achievement considering his starting point when he joined the school.
In 2013 we had 38 pupils – now we have 119, much of which is because of the influx and continuing demand for places at primary level. This means that we can intervene and provide early help which makes a real difference. We are oversubscribed across primary and currently have minimal space which provides a good degree of security for the future of the school.
We are seeing some large increase in our costs, particularly in staff wages but face considerable resistance from Local Authorities in negotiating fee increases. We are developing plans to increase the number of pupils to 140.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
The School was inspected by Ofsted on the 21st May 2023 and I am pleased to report that we given an outstanding grading in all areas. This is the fourth consecutive year in which the school has achieved an outstanding grading. The report recognises just some of the life changing work which takes place for pupils at the school.
The new Therapy unit, which opened 2 years ago, is being used more and more extensively and we have increased the number of fully qualified and experienced therapists in order to support and meet the needs of our complex pupils.
On Fridays we offer Therapy and Counselling to boys from local secondary schools and the results so far are extremely positive. Muntham House School is the only school in the country providing this service at no cost for the local community.
We have appointed a new Head of Outdoor Activities (in addition to the existing Head of PE) He controls the Duke of Edinburgh’s Award Program and is organising a whole range of activities to help our boys develop greater resilience and self-confidence. This year the pupils will be going on an expedition to Snowdonia in Wales.
Before the Covid pandemic, the Principal conceived and organised a National Football Competition for SEN schools. This involves a number of regional events with the winners of each going forward to the final at the National Football Centre at St George’s Park near Burton-on- Trent. This year over 40 schools from around the country have entered and it has grown into the largest SEN Football tournament in Europe. The Principal was able to arrange sponsorship so that it is free for all SEN schools to participate.
Given the nature of our pupil’s backgrounds it is unsurprising that most of them have experienced severe previous trauma and we have given all staff regular training in how to deal with trauma related behaviour. Four staff members are fully trained Trauma practitioners and the school has now been accredited as a Trauma Informed School, one of very few in the South of England. We are now regarded as a Centre of Excellence and a hub for other schools to work with and learn from.
The School Farm is growing and has been a considerable success in reducing anxiety for our pupils. The animals are used for therapy and support across with pupils of all ages, and our current menagerie is:
8 Chickens 4 Pigmy Goats 2 Donkeys 2 Pigs 2 School Dogs
We invested a lot of time and effort into Diversity training and were rewarded with Centre of Excellence Status by the Inclusion Quality Mark organisation.
The school also Investors in Careers Award, in recognition for the excellent careers work and work experience programme that we have in place.
Food 4 Life was another accreditation which we achieved in recognition for our healthy and sustainable use of food and harvesting our own vegetables from the school farm. The school has been awarded Gold standard from Food 4 Life.
Arts Mark Gold has been achieved this year in recognition of the excellent work across the arts in school. This award recognises the wide range of arts available to our pupils.
The Principal and Governors would once again thank the Trustees for their award. This year we put the money towards a new adventure installation for the Infants section.
Prospective parents have been bowled over by it and become even more convinced that Muntham House is the right place for their son.
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
## **Public Benefit Statement**
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. As stated elsewhere in this report, the payment of grants to the three charities specified in the Foundation’s governing document is clear evidence of both the benefit provided and the relation of this benefit to the aims of the Foundation. The payment of these grants to the specified charities, which in turn have public benefit reporting responsibilities, meets the principle that the beneficiaries must be relevant to the Foundation’s aims.
## **Structure, Governance & Management**
Under a scheme approved by the Charity Commissioners in April 1994, the objectives and limitations on capital disbursement specified by Miss Rush were not changed but the Trustee structure was defined as:
- Co-opted Trustee - A descendant of William Belmer Rush resident outside the UK Ex-Officio Trustee
- The Chair of Governors of the Charity & Private Limited Company called Muntham House School
- Nominated Trustee – Barnardo’s
- Appointed by the Council of Barnardo’s Charity
- Nominated Trustee - Save the Children
- Appointed by the Board of Trustees of Save the Children Charity
The 1994 scheme provided for three Trustees to form a quorum. On 3 March 2005 the Charity Commissioners granted a Power of Amendment Order. This allows Trustees to deal with certain administrative matters under advice to the Charity Commissioners. Forty days’ notice is required for any resolution proposed under the Order and, appropriate notice being given; the Trustees considered and approved the following resolution at their Annual Meeting on 21 June 2005:
A clause 4(5) be added stating “The Trustees shall not vary Clauses 2, 13 and 14 of the William Belmer Rush Foundation Scheme sealed by the Charity Commissioners for England and Wales on 19 April 1994 without the prior consent of the said Commissioners”
This resolution is a mechanism to ensure that a quorum of Trustees could not use these new powers to change the Foundation’s governance principles without the Charity Commissioners’ approval.
The trustees considered and approved a resolution at their Annual Meeting on 18 July 2013 that added appointment of proxies and use of electronic communication to Clause 12 (about Trustee meetings) of the 1994 Scheme.
The Trustees meet once a year to review all activities undertaken since the last Annual Meeting as well as all systems and controls. At that meeting they confirm the Trustees Annual Report and Accounts and discuss any issues concerning the future of the Foundation. Trustees can hold special meetings in the intervening period if events require formal decisions to be made.
The Trustees appoint an Administrator selected from the staff of and recommended by Save the Children to deal with routine correspondence and matters on their behalf. The Administrator also produces the Trustees Annual Report and Accounts plus papers on Investments and Risks Review for discussion at the Annual Meeting.
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**WILLIAM BELMER RUSH FOUNDATION**
# **REPORT OF THE TRUSTEES (continued)**
## **Reference and Administrative Details**
Charity Number: 00307079
Trustees: Mr B. Rush
Mr J Knightley (Chair of Governors, Muntham House School)
Mrs V.H. Tabor (Legacy Operations Manager, Barnardo’s)
Ms Lucie Calder - appointed 2023 (Philanthropy Manager, Save the Children UK)
Ms Asha Chadeesigh - appointed 2022, resigned 2023 (Senior Philanthropy Manager, Save the Children UK)
Ms A O’Boyle -resigned 2022 (Senior Philanthropy Manager, Save the Children UK)
Address: William Belmer Rush Foundation C/o Save the Children UK – Financial Reporting and Controls Team Rebecca Eldridge Foundation Administrator Central Finance Save the Children UK 1 St John's Lane London EC1M 4AR Independent Amanda Hall – Counterculture Partnership LLP Examiner: Unit 115 Ducie House Ducie Street Manchester, M1 2JW Banker: National Westminster Bank PLC PO Box 83 Tavistock House Tavistock Square London WC1H 9JA Investment CCLA Investment Management Ltd Manager: Senator House 85 Queen Victoria Street London EC4V 4ET
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## **WILLIAM BELMER RUSH FOUNDATION**
## **REPORT OF THE TRUSTEES (continued)**
## **Responsibilities of the Trustees**
Charity law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Foundation and show the surplus or deficit for the period. In preparing these 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 have been followed; and
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Foundation will continue to operate.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation. They are also responsible for safeguarding the assets of the Foundation and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, 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 published on 16 July 2014.
## **Statement as to disclosure to the Independent Examiner**
In so far as the Trustees are aware at the time of approving the trustees’ annual report:
- There is no relevant information, being information needed by the Independent Examiner in connection with preparing his report, of which the Independent Examiner is unaware.
- The Trustees, having made enquiries of fellow Trustees and the Independent Examiner that they ought to have individually taken, have each taken steps that they are obliged to take as a trustee in order to make themselves aware of any relevant information for the independent examination and to establish that the Independent Examiner is aware of that information.
Signed on behalf of the Board of Trustees
_________________________ Mrs V.H. Tabor Trustee
_________________________ Ms L Calder Trustee
Date: 25-Jul-2023 | 08:50 BST
_________________________
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## **WILLIAM BELMER RUSH FOUNDATION**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WILLIAM BELMER RUSH FOUNDATION**
I report on the accounts of the William Belmer Rush Foundation for the year ended 31 March 2023, which are set out on pages 15 - 19.
## **Responsibilities and basis of report**
As the trustees of the charity, 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 2011 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 confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.
- Accounting records were not kept in respect of the charity as required by section 130 of the Act.
- The accounts do not accord with those records.
- 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.
Amanda Hall – Partner
Counterculture Partnership LLP Unit 115 Ducie House Ducie Street Manchester, M1 2JW
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## **WILLIAM BELMER RUSH FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **for the year ended 31 March 2023**
**----- Start of picture text -----**
Notes 2022/23 2021/22
£ £ £ £ £ £
Unrestricted Endowment Total Unrestricted Endowment Total
INCOME AND ENDOWMENTS FROM:
Investments 2 80,149 - 80,149 78,059 - 78,059
Total 80,149 - 80,149 78,059 - 78,059
EXPENDITURE ON:
Charitable expenditure
Grants to:
Save the Children Fund (24,629) - (24,629) (24,655) - (24,655)
Barnardo's (24,629) - (24,629) (24,656) - (24,656)
Muntham House School (24,629) - (24,629) (24,656) - (24,656)
Total Grants (73,887) - (73,887) (73,967) - (73,967)
Support costs 3 (6,262) - (6,262) (4,092) - (4,092)
Total Expenditure (80,149) - (80,149) (78,059) - (78,059)
Net income/(expenditure) before
investment gains and losses - - - - - -
Net gains/(losses) on investments 4 - (153,126) (153,126) 228,263 228,263
Net income/(expenditure) equal to
net movement in funds - (153,126) (153,126) - 228,263 228,263
RECONCILIATION OF FUNDS
Total funds brought forward 7 - 2,587,755 2,587,755 - 2,359,492 2,359,492
Total funds carried forward - 2,434,629 2,434,629 - 2,587,755 2,587,755
**----- End of picture text -----**
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DocuSign Envelope ID: 56AB366E-C6FF-44A1-A59B-4C72002BBC09
## **WILLIAM BELMER RUSH FOUNDATION**
## **BALANCE SHEET**
## **as at 31 March 2023**
25-Jul-2023 | 08:50 BST
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DocuSign Envelope ID: 56AB366E-C6FF-44A1-A59B-4C72002BBC09
## **WILLIAM BELMER RUSH FOUNDATION**
## **NOTES TO THE ACCOUNTS**
## **1 ACCOUNTING POLICIES**
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
William Belmer Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## 1.1 Public benefit entity status
The charity meets the definition of a public benefit entity under FRS 102.
1.2 Going concern status The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## 1.3 Income
All income is included in the Statement of Financial Activities as soon as the following three factors can be met:
- Entitlement – when income is receivable or the charity’s right becomes legally enforceable.
- Probable – when it is more likely that not that that the income will be received.
- Measurement – when the monetary value of the income can be measured with sufficient reliability.
## 1.4 Expenditure
All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.
## a) Charitable activities
Costs of charitable activities comprise all costs incurred in pursuit of the charitable objectives of the charity. After providing for creditors, the remaining income received for the year is disbursed to the beneficiaries as described in the Trustees’ Report.
## b) Support costs
Support costs are shown under the appropriate SOFA expenditure category and consist solely of governance costs - which comprise all costs attributable to ensuring the public accountability of the charity and its compliance with regulation and good practice. These costs included independent examination fees and trustee expenses.
## 1.5 Taxation
The William Belmer Rush Foundation is a registered charity and as such is exempt from taxation of its income and gains to the extent that they are applied to its charitable purposes.
## 1.6 Investments
Investments are shown at market value. Net realised and unrealised gains and losses are reflected in the Statement of Financial Activities.
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DocuSign Envelope ID: 56AB366E-C6FF-44A1-A59B-4C72002BBC09
## **WILLIAM BELMER RUSH FOUNDATION**
## **NOTES TO THE ACCOUNTS (continued)**
## **2 INVESTMENT INCOME**
Incoming resources includes investment income of £80,149 (see breakdown below):
|**_%_**
Interest - Deposit Fund
_1%_
Dividend income - Investment Fund
_74%_
Dividend income - Property Fund
_25%_
**Total**|**2022/23**
**2021/22**
**£**
**£**
**948**
25
**59,395**
58,228
**19,806**
19,806|
|---|---|
||**80,149**
78,059|
## **3 GOVERNANCE COSTS**
The provision for the 2021/22 travel expenses was £4,500 (2021/22: £2,850). Costs of £2,763 were incurred for the 2021/22 AGM held in July 2022. The number of trustees in receipt of travel expenses was 1 (2021/22: 1).
The basic administration fee is £1,200 per annum payable to Save the Children UK with the cost of any additional work shown separately. There was no additional work during the year to 31 March 2023. Costs also include £648 (2021/22: £590) for independent examination fees.
No trustees were in receipt of remuneration in the year (2021/22: 0).
## **4 INVESTMENTS**
The investments represent the endowed capital of the Foundation and are not available for distribution by the Trustees. The valuation of the Charities Official Investment Fund (COIF) investment fund, property fund and capital fund (held in a deposit account) as at 31 March 2023 are shown below. All income is received gross of tax.
|Market value 1 April
Unrealised gains/(losses)
Market value 31 March
% of total investment|Deposit
Investment
Property
Account
Fund
Fund
Total
Total
**2022/23**
**2022/23**
**2022/23**
**2022/23**
**2021/22**
**£**
**£**
**£**
**£**
**£**
5,932
2,123,029
458,794
**2,587,755**
2,359,492
0
(80,338)
(72,788)
**(153,126)**
228,263|
|---|---|
||**5,932**
**2,042,691**
**386,006**
**2,434,629**
**2,587,755**|
||_0.20%_
_83.90%_
_15.90%_
_100%_
100%|
This endowment investment portfolio comprises two forms of basic financial instrument:
- The capital fund (deposit account) is cash.
- The investment fund and property fund are listed investments which are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.
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DocuSign Envelope ID: 56AB366E-C6FF-44A1-A59B-4C72002BBC09
## **WILLIAM BELMER RUSH FOUNDATION**
## **NOTES TO THE ACCOUNTS (continued)**
## **5 CREDITORS**
|Grants payable
Trustee travel provision
Independent examiner's fee provision
Administration fee
**Total**|**2022/23**
**2021/22**
**£**
**£**
**73,887**
73,967
**4,500**
2,850
**648**
590
**1,200**
650|
|---|---|
||**80,235**
78,057|
## **6 RELATED PARTIES**
The charity trustees disclosed on page 12 include one from each of the benefiting charities. The material transactions with these charities are disclosed in the Trustees’ Report on page 2.
## **7 NET MOVEMENT IN FUNDS**
|Original capital fund
Investment revaluation reserve
**Total**|**Balance**
**Balance**
**1 April 2022**
**Gains/(losses) 31 March 2023**
**£**
**£**
**£**
211,784
-
**211,784**
2,375,971
(153,126)
**2,222,845**|
|---|---|
||**2,587,755**
(153,126)
**2,434,629**|
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