THE SQUIRES FOUNDATION TRUSTEES. REPORT AND ACCOUNTS 16 MARCH 2025 Charity Number: 328149 TE S AUDIT LIMITED Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD
THE SQUIRES FOUNDATION ACCOUNTS YEAR ENDED 16 MARCH 2025 CONTENTS PAGE Members of the Board and professional advisers Trustees, Annual Report Independent examiner's report to the trustees statement of financial activities Balance sheet Notes to the accounts
THE SQUIRES FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 16 MARCH 2025 The trustees present their report and the unaudited accounts of the charity for the year ended 16 March 2025. REFERENCE AND ADMINISTRATIVE DETAILS Reference and administratlve details are shown in the schedule of rnembers of the board and professional advisers on page l of the accounts. THE TRUSTEES The trustee5 who served the charlty durlng the period were as follows.. John Squires Lynn Squires Malcolm Squires Mark Squires Stephen Squires STRUCTURE, GOVERNANCE AND MANAGEMENT The Trust was established by Trust Deed dated 17 March 1989 by John Squires and Stephen Raymond Squires. It was originally called The Benfield Motors Charitable Trust and changed its name In 2015. The Squires Foundation is registered with the Charity Commission, No. 328149. Charitable expenditure is made at the d15cretion of the Trustees. OBJECTIVES AND ACTIVITIES The Trust is established for the purpose of making a wide range of donations to many organisations. the maJ"orlty of which are based in the North East of England. Grants are approved by the Trustees in line with the objectives of the Trust, whlch are. Social Welfare, particularly the relief of need, hardship and distress. Community Development,. work which supports childreni young people nd the elderly, local hospitals and hospices: Christian activities and the arts, Such grants have prevlously been funded by donations from Addlson Motors Limited. There have been no changes to the Trust's objectives or the policies used to achieve them. The Trustees confirm that regard has been glven to current guidelines on public benefit in the Charltles Act 2011. OUR PLANS FOR THE FUTURE The Trustees plan to continue their grant making actlvltles at a level that IS SUPPOrted by funding received from St Ebba Capital Limited. ACHIEVEMENTS AND PERFORMANCE Included in income are donations receivable of £183,598 {2024: £190,204) from St Ebba Capital Limited. All of the Trustees are also Shareholders of that company. John Squires, Malcolm Squlres, Stephen Squires and Mark Squires are also directors of St Ebba Capital Llmlted. In accordance with the Tru5t'5 objectives and grant making policy, grants totslling £244,248 12024: £225,100) were awarded and paid during the year to a range of organisations. A full list of grants made is Set out in Note 7 to the accounts.
THE SQUIRES FOUNDATION TRUSTEES. ANNUAL REPORT (contlnued) YEAR ENDED 16 MARCH 2025 GRANT MAKING POLICY Grant making is infom)ed by the Foundation's objects and particular areas of interest, which are reviewed on an annual basis. Grant proposals are sought or received and recommendatlons around the scale and nature of grants are made by the Grant making Committee to the Trustees for their approval. Followlng a recent review, grant making has presently been focused around five key themes Youth, Soclal Welfare, Local Health and Soelal Care, Overseas, Culture & Community and the Environment. FINANCIAL REVIEW The attached accounts show the current state of the finances which the Trustees conslder to be adequate. Funds have been applied to local and national charitable organisations. The Trustees require reserves to be sufficient to allow The Squlres Foundatlon the flexibility to continue and develop in accordance with the charity's obJ"ectives. The Trustees review the policy on reserves on an annual basls. At the 16 March 2025 the reserves balance totalled £29,497 (2024: £62,745). Included within this is restricted funds of £28,290 {2024.' £62,471). RISK STATEMENT The Tnjstees do not consider the charlty is exposed to any significant risks not currently covered by controls in place. STATEMENT OF TRusfEES' RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Annual Report and their accounts in accordan with the pplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law appllcable to charlties In England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these accounts the Trustees are requlred to.. Select suitable accounting policies and then apply them consistentlyi Observe the methods and principle5 in the Charities SORP; Make judgements and 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 accounts. and Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charlty will continue in operation. The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial positlon of the charity and enable them to ensure that the financial statements comply wlth the Charities Act 2011. They are also responsible for safeguarding the assets of the charity ané hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. INDEPENDENT EXAMINER Stephenson Coates Audit Limited has been re-appointed a5 independent examlner for the ensuing year. Signed by order of the trustees John Squires Trustee 8 January 2026
THE SQUIRES FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SQUIRES FOUNDATION YEAR ENDED 16 MARCH 2025 I report to the trustees on my examination of the accounts of The Squire5 Foundation for the year ended 16 March 2025, which are set out on pages 5 to 11. Responsrbilities and basis of report As the charity trustees of the Trust you are responslble for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act,). You consider that the audit requirements of section 144 of the 2011 Act do not apply and that an independent examinatlon is required. Having satisfied myself that the accounts are not required to be audited, I report in respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions glven by the Charity Commisslon under section 145(5)(b) of the 2011 Act. Independent examlner's statement I confirm that l am qualified to undertake the examlnation because l am a member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention In connection wlth the examination giving me cause to believe that in any materlal respect.. accounting records were not kept in respect of the Trust as required by sectlon 130 of the Act: or the accounts do not accord with those records. or 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 glve a 'true and fair view, which is not a matter consldered as part of an independent examination. I have no concerns and have come across no other matters In connection with the examinatlon to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. John Oswald BA FCA Stephenson Coates Audlt Limited West 2, Asarna Court Chartered Accountants Newcastle Business Park Newcastle upon Tyne NE4 7YD 8 January 2026
THE SQUIRES FOUNDATION STATEMENT OF FINANCIAL ACTIVXTIES YEAR ENDED 16 MARCH 2025 Note Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 INCOME AND ENDOWMENTS Donation5 and legacies Investment income TOTAL INCOME 213,763 404 213,763 404 190,399 214,167 214,167 191,739 EXPENDITURE Expenditure on charitable activities 213 234 247 415 227 334 TOTAL EXPENDrruRE 213 234 247 415 227 334 NET INCOMING RESOURCES & NET MOVEMENT IN FUNDS FOR THE YEAR 933 (34,181} (33,248) (35,595) RECONCILIATION OF FUNDS Total funds brought forward 274 TOTAL FUNDS CARRIED FORWARD 11,12 1,207 28,290 29,497 62,745 The Statement of financial activities includes all gains and losses in the year. All of the above amounts relate to continuing activities. The notes on pages 7 to 11 form part of these accounts.
THE SQUIRES FOUNDATION BALANCE SHEEr YEAR ENDED 16 MARCH 2025 2025 2024 Note CURRENT ASSETS Debtors Cash at bank 90,000 6,935 30,500 65,437 96,935 (67.438) 95,937 {33,192) CREDrroRS: Amounts falling due withln one year io NET CURRENT ASSETS 29,497 62,745 TOTAL ASSETS LESS CURRENT LIABILITIES 29,497 62,745 FUNDS OF THE CHARITY Unrestricted funds Restricted funds 1,247 28,290 274 62,471 li TOTAL CHARITY FUNDS 11, 12 29,497 62,745 These accounts were approved by the members of the committee and authori5ed for issue on 8 January 2026 and are signed on their behalf by: John Squires Trustee The notes on pages 7 to 11 form part of these accounts.
THE SQUIRES FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 16 MARCH 2025 ACCOUNTING POLICIES General informatlon The Foundation is a reglstered charlty in England and Wales with charity number.. 328149. The address of the princlpal office Is 21 Middle Drive, Ponteland, Newcastle upon Tyne, NE20 9DH. ststement of compliance These financial ststements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) (Charitles SORP (FRS 102)} and the Charitie5 Act 2011. Basis of preparatlon The financial statements have been prepared on the historical cost basi5. The financial statements are prepared in sterling, which is the funrtional currency of the entity. The Squlres Foundation meets the definitlon of a public benefit entity under FRS 102, Going concern There are no material uncertainties about the charity's abillty to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually revlewed and are based on experience and other factors, including expettations of future events that are believed to be reasonable under the circumstances. There are no key sources of judgement or estimation to report. Fund Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectlves of the charity and which have not been designated for other purposes. Restricted funds are subjert to restrictlons on their expenditure imposed by the funder, donor or through the terms of an appeal. Income All Income is recognised once the Foundatlon ha5 entitlement to the income, it is certain that the income will be received and the monetary value of the income can be measured with sufficient reliability. Income from Investrnents is included In the year in which It Is receivable. Expendlture abilities are recogni5ed as expenditure as soon as there is legal or constructive obligatlon committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and ha5 been classified under headings that aggregate all costs related to the category. Grant5 payable are made to thlrd parties in the furtherance of the charitable objectives of the Foundation. These are included under charitable artivides In the statement of flnancial activitie5. Provisions for grants are made when the trustees have agreed to pay the grant without condition or the recipient has a reasonable expectatlon they wlll receive the grant.
THE SQUIRES FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 16 MARCH 2025 I. ACCOUNTING POLICIES (continued) Flnanclal instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contrattual provlslons of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current Ilabllitles are subsequently measured at the cash or other consideratlon expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objettive evldence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognlsed. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. DONATIONS AND LEGACIES Unrestricted Funds Restrlcted Funds Totsl Funds 2025 Total Funds 2024 Donations Donations 213.763 213,763 190,399 INVESTMENT INCOME Unrestrlcted Funds Restricted Funds Total Funds 2025 Total Funds 2024 Bank interest receivable 404 404 1,340
THE SQUIRES FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 16 MARCH 2025 COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE Unrestricted Funds Restricted Funds Total Funds 2025 Total Funds 2024 Grants payable (Note 7) Other costs 210,067 3,167 34,181 244,248 3,167 225,100 2,234 213,234 34,181 247,415 227,334 COSTS OF CHARITABLE ACTIVITIES BY AcfIvITY TYPE Activities undertaken directly Grant funding activities Total Funds 2025 Total Funds 2024 Grants payable (Note 7) other costs 244,249 244,249 3,166 225,100 2,234 3,166 244,249 3,166 247,415 227,334 NET INCOMING RESOURCES FOR THE YEAR Net incoming resources Is stated after charging independent examlners fees of £767 (2024.. £650).
THE SQUIRES FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 16 MARCH 2025 GRANTS PAYABLE 2025 2024 Unrestricted: Grants to instltutlons The Lbghthouse Project Community Foundation Luo Care Newcastle Foodbank Newcastle West End Food Bank Cry In The Dark The Bay Food Bank West Northumberland Foodbank Walker and District Food Bank The People's Kitchen Countryside Trust Transform Trade Charlotte Straker TST Tyne Sport Newcastle St Oswald's Hospice St Cuthbert's Hospice Feeding Families Cancer Research Macmillan Cancer Grants to indlvlduals loo,000 10,000 9,000 10,000 67.392 10,000 5,500 5,000 5,000 5,000 5,000 1,000 47,998 10,000 5,000 32.302 5,000 5,000 5,000 30,000 1,000 780 280 19,909 2,500 1,000 705 210,067 189,299 Restricted: Grants to instltutions Church and Community Partnership (Tynedale) 34,181 35,801 Total 244,248 225,100 KEY MANAGEMENT PERSONNEL AND TRUSTEE REMUNERATION AND EXPENSES The charity employed no individuals during the year {2024'. None). The key management personnel of the charity comprises solely of the trustees. There was no trustee remuneratlon or expenses in the year (2024: None). DEBTORS 2025 2024 Prepayments and accrued Income 90,000 30,500 io
THE SQUIRES FOUNDATXON NOTES TO THE ACCOUNTS YEAR ENDED 16 MARCH 2025 10. CREDITORS: Amounts falllng due within one year 2025 2024 other creditors 67,438 33,192 11. ANALYSIS OF CHARITABLE FUNDS Balance at 17 March 2024 Balance at 16 March 2025 Income Expandlture Unrestricted Funds Restricted Funds 274 214,167 (213,2341 {34,181) 1,207 28,290 62,471 Total charity Funds 62,745 214,167 (247,415) 29,497 Restricted funds relate fully to supporting salary costs and expenses for the Church & Community Partnershlp (Tynedale). 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restrlcted Funds Total Current assets Creditors less than l year 68,645 (67,438) 28,290 96,935 (67,438) Total Funds 1,207 28,290 29,497 13. RELATED PARTY TRANSACTIONS St Ebba Capital Limited donated £183,598 {2024'. £190,204) to the Squires Foundation in the year. The trustees of the charity are also dirertors of St Ebba Capitsl Limited. John Squires is a trustee of Church and Communlty Partnershlp (Tynedale). During the year donations were made to Church and Communlty Partnership (Tynedale) of £34,182 (2024- £35,801). li