The Neville Abraham Founda3on Report of the Trustees For the year ended 5 April 2024
ended 5 April 2024. The trustees have adopted the provisions of the Accoun=ng and Repor=ng by Chari=es Statement of Recommended Prac=ce applicable to Chari=es preparing their accounts in accordance with the Financial Repor=ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec=ve 1 January 2019).
out in the notes to the accounts and comply with the charity’s governing document, the Chari=es Act 2011 and the Accoun=ng and Repor=ng by Chari=es Statement of Recommended Prac=ce applicable to chari=es preparing their accounts in accordance with the Financial Repor=ng Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (as amended by Update Bulle=n 1 published on 2 February 2018).
Objec3ves and Ac3vi3es
The founda=on was created by Mr Neville Abraham to receive capital to be invested with the inten=on that the income from such investments be applied to making charitable dona=ons.
Under the terms of the seVlement, the trustees are able to apply the funds to any charitable purpose and in such manner as the trustees may from =me to =me in their discre=on determine, with special reference to the promo=on, maintenance, improvement, and advancement of educa=on of the arts of drama, mime, dance, singing and music.
The trustees have reviewed the policy of making dona=ons from income only and have decided to make larger dona=ons out of capital. The trustees consider the finances of the Founda=on to be strong enough to be able to execute this policy over the next few years.
The trustees would like to enable the Charity to make grants to other organisa=ons, such as CICs and educa=onal ins=tu=ons, provided they are used for exclusively charitable purposes according to the law of England and Wales. Accordingly, an applica=on has been made to the Charity Commission to amend the Trust Deed.
curricular ac=vi=es for state school children in London. The ra=onale for this decision was the growing evidence that state school educa=on in the UK had in many cases been curtailed to the requirement to pass exams. Those who did not or could not pass GCSEs were deemed to have “failed”. The reality is that classroom learning, for whatever reason, may not appeal to many children, as much as 40% in many areas. This factor, post the Covid lockdowns, has resulted in increased levels of behavioural issues, exclusion, and truancy. On the other hand, schools which have embraced one or more extra-curricular ac=vi=es, such as par=cipa=ng in sport, music and drama, and personal development projects, could point not only to mi=ga=on of such problems but also improved academic results. Accordingly, the trustees have intensified the search for specialist programmes by mission-led chari=es who could demonstrate a successful track record to address these issues in the UK.
Achievement and Performance
Charitable ac3vi3es
April 2024. The trustees note that this level is significantly higher than hitherto, and regard this as a transi=on towards their new annual target of dona=ng a minimum of £500,000.
In May 2023 the gif aid tax reclaimed of £284,489 was received and added to cash held at CAF bank. Grants were all made from the cash held at CAF Bank.
Financial Review
The trustees received dona=ons of £532,902 (including accrual for gif aid reclaim) towards the end of the accoun=ng period and the charity remains in a strong financial posi=on.
Total income for the year ended 5 April 2023 was £567,836 (2022: £32,198) with total funds carried forward of £2,578,625 (2023: £2,171,876).
Cash reserves have increased from £47,143 to £492,120 as a result of the dona=ons received.
Investment policy and objec3ves
During the year, the trustees reviewed the investment policy and decided that it should be changed to a more cau=ous risk profile with the emphasis being on priori=sing capital preserva=on. The trustees instructed Evelyn Partners who have implemented the new investment policy.
The trustees have reviewed the guidance “Chari=es and investment maVers: a guide for trustees” issues by the Charity Commission and consider that the investment strategy undertaken by Evelyn Partners is appropriate.
Reserves policy
The increase in dona=ons for the year ended 5 April 2024 were funded by the gif aid reclaim received on a significant dona=on made in 2022.
will ensure sufficient capital is retained to meet the charitable commitments made by the Founda=on.
Future developments
The trustees acknowledge that currently the only source of income for The Founda=on is from Mr N Abraham and Ms N Leach. It is expected that following their deaths, the Founda=on would distribute the assets and be wound up within an agreed =mescale. The Deeds of the charity were amended in June 2023 to reflect this.
Structure governance and management
The charity is controlled by its governing document, a deed of trust and cons=tutes an unincorporated charity.
The Neville Abraham Founda=on is governed by the Deed of SeVlement dated 4 April 1989 as subsequently amended.
Trustees currently meet formally three =mes a year to consider grants to other chari=es, review investment performance and discuss maVers of a strategic and administra=on nature and informally at other =mes when necessary.
Risk management
The trustees have a duty to iden=fy and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have considered the risks and are sa=sfied there are appropriate controls in place.
Reference and Administra3ve details
Registered Charity number
328636
Principal address
Flat 15 85 Cadogan Gardens London SW3 2RD
Trustees
Ms N Leach Mr N Abraham CBE Ms F McWilliams Ms Y Majid Ms M Milne (appointed 27 June 2024)
Independent reviewer
Mr D C Hobson BSc FCA CTA 8 Cae Mair Llanfair Dyffryn Clwyd Ruthin LL15 2AJ
Statement of Trustees’ responsibili3es
statements in accordance with applicable law and United Kingdom Accoun=ng Standards (United Kingdom Generally Accepted Accoun=ng Prac=ce).
The law applicable to chari=es in England and Wales, the Chari=es Act 2011, Charity (Accounts and Reports) Regula=on 2008 and the provisions of the trust deed requires the trustees prepare financial statements 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 applica=on 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 accoun=ng policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and es=mates that are reasonable and prudent;
-
state whether applicable accoun=ng standards have been followed, subject to an material departures disclosed and explained in the financial statements;
-
inappropriate to presume that the charity will con=nue in business;
The trustees are responsible for keeping proper accoun=ng records which disclose with reasonable accuracy at any =me the financial posi=on of the charity and to enable them to ensure that the financial statements comply with Chari=es Act 2011, the Charity (Accounts and Reports) Regula=ons 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 preven=on and detec=on of fraud and other irregulari=es.
Approved by order of the board of trustees on 19 November 2024
N Abraham CBE - Trustee
| The Neville Abraham Foundation | The Neville Abraham Foundation | The Neville Abraham Foundation | The Neville Abraham Foundation | Charity No (if any) |
Charity No (if 328636 |
||
|---|---|---|---|---|---|---|---|
| Period start date SS |
06/04/2023 To Period end date Annual accounts for the period |
05/04/2024 | CC17a | ||||
| Section A Statement of financial activities | Section A Statement of financial activities | ||||||
| Restricted | |||||||
| Recommended categories by activity Details of own analysis |
Note | Unrestricted funds |
income funds |
Endowment funds |
Total this year |
Total last year |
|
| £ | £ | £ | £ | £ | |||
| Incoming resources (Note 3) F01 F02 F03 F04 F05 Incoming resources from generated funds - - - - - Voluntary income S01 532,902 - - 532,902 1,655 Activities for generating funds S02 - - - - - Investment income S03 34,934 - - 34,934 30,543 Incoming resources from charitable activities S04 - - - - - Other incoming resources S05 - - - - - S06 567,836 - - 567,836 32,198 Total incoming resources ~~= |
=====~~ | ||||||
| Resources expended (Notes 4-8) Costs of Generating Funds - - - - - Costs of generating voluntary income S07 - - - - - Fundraising trading costs S08 - - - - - Investment management costs S09 16,723 - - 16,723 16,281 Charitable activities S10 193,012 - - 193,012 3,100 Governance costs S11 5,230 - - 5,230 3,960 Other resources expended S12 17,615 - - 17,615 2,250 S13 232,579 - - 232,579 25,591 S14 335,257 - - 335,257 6,607 S15 - - - - - S16 335,257 - - 335,257 6,607 Total resources expended Net incoming/(outgoing) resources before transfers Net incoming/(outgoing) resources before other recognised gains/(losses) Gross transfers between funds ~~ae~~ |
|||||||
| Other recognised gains/(losses) | |||||||
| Gains and losses on revaluation of fixed assets | |||||||
| for the charity’s own use | S17 | - | - | - | - | - | |
| Gains and losses on investment assets | S18 | 71,493 | - | - | 71,493 | - | 79,852 - |
| Net movement in funds | S19 | 406,750 | - | - | 406,750 | - | 73,245 |
| Total funds brought forward | S20 | 2,171,876 | - | - | 2,171,876 | 2,245,121 | |
| Total funds carried forward | S21 | 2,578,625 | - | - | 2,578,625 | 2,171,876 |
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Section B Balance sheet
| Fixed assets Tangible assets (Note 9) Investments (Note 10) Total fixed assets Current assets Stock and work in progress Debtors (Note 11) (Short term) investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year (Note 12) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 12) Provisions for liabilities and charges Net assets Funds of the Charity Unrestricted funds Restricted income funds (Note 13) Endowment funds(Note 13) Total funds Signed by one or two trustees on behalf of all the trustees |
Note B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 |
Unrestricted funds £ F01 |
Restricted income funds £ F02 |
Endowment funds £ F03 |
Total this year Total last year £ £ F04 F05 |
Total this year Total last year £ £ F04 F05 |
|---|---|---|---|---|---|---|
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 1,981,876 | - | - | 1,981,876 | 1,840,965 | ||
| 1,981,876 | - | - | 1,981,876 | 1,840,965 | ||
| - | - | - | - | - | ||
| 106,500 | - | - | 106,500 | 284,489 | ||
| - | - | - | - | - | ||
| 492,119 | - | - | 492,119 | 47,143 | ||
| 598,619 | - | - | 598,619 | 331,632 | ||
| 1,870 | - | - | 1,870 | 720 | ||
| 596,749 | - | - | 596,749 | 330,912 | ||
| 2,578,625 | - | - | 2,578,625 | 2,171,876 | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 2,578,625 | - | - | 2,578,625 | 2,171,876 | ||
| 2,578,625 | 2,578,625 | 2,171,876 | ||||
| - | - | - | ||||
| - | - | - | ||||
| - | - | - | ||||
| 2,578,625 | - | - | 2,578,625 | 2,171,876 | ||
| Signature | Date of approval Print Name |
|||||
| N Abraham CBE | 24/11/2024 |
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Cash flows from operating activities:
Net cash provided by (used in) operating activities Cash flows from investing activities:
Dividends, interest and rents from investments Proceeds from the sale of property, plant and equipment Purchase of property, plant and equipment Proceeds from sale of investments Purchase of investments
Net cash provided by (used in) investing activities
Cash flows from financing activities: Repayments of borrowing Cash inflows from new borrowing Receipt of endowment
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period Change in cash and cash equivalents due to exchange rate movements
Cash and cash equivalents at the end of the reporting period
| Total Funds this year Total Funds prior year Notes £ £ 479,462 27,871 - Note 16 34,934 30,543 994,161 263,735 - 1,063,580 - 647,628 34,485 - 353,350 - |
Total Funds this year Total Funds prior year Notes £ £ 479,462 27,871 - Note 16 34,934 30,543 994,161 263,735 - 1,063,580 - 647,628 34,485 - 353,350 - |
|---|---|
| 34,934 | 30,543 |
| 994,161 | 263,735 |
| - 1,063,580 | - 647,628 |
| 34,485 - |
353,350 - |
| - | |||||||
|---|---|---|---|---|---|---|---|
| - | |||||||
| 444,977 | - | 381,221 |
|||||
| 47,143 | 428,364 | Note | 17 | and | 18 | ||
| 492,120 | 47,143 | Note | 17 | and | 18 |
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:
• Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005); • and with* ü Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);
- and with the Charities Act.
1.2 Change in basis of accounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).
1.3 Changes to previous accounts
No changes have been made to accounts for previous years (§§ except for the following).
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Section C Notes to the accounts (cont)
Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
INCOMING RESOURCES
| Recognition of incoming | These are included in the Statement of Financial Activities (SoFA) when: |
|---|---|
| resources | • the charity becomes entitled to the resources; |
| • the trustees are virtually certain they will receive the resources; and | |
| • the monetary value can be measured with sufficient reliability. | |
| Incoming resources with | Where incoming resources have related expenditure (as with fundraising or contract income) the |
| related expenditure | incoming resources and related expenditure are reported gross in the SoFA. |
| Grants and donations | Grants and donations are only included in the SoFA when the charity has unconditional |
| entitlement to the resources. | |
| Tax reclaims on donations and | Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to |
| gifts | which they relate. |
| Contractual income and | This is only included in the SoFA once the related goods or services have been delivered. |
| performance related grants | |
| Gifts in kind | Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. |
| Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or | |
| distributed by the charity. | |
| Gifts in kind for use by the charity are included in the SoFA as incoming resources when | |
| receivable. | |
| Donated services and facilities | These are only included in incoming resources (with an equivalent amount in resources expended) |
| where the benefit to the charity is reasonably quantifiable, measurable and material_._The value | |
| placed on these resources is the estimated value to the charity of the service or facility received. | |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and losses | This includes any gain or loss on the sale of investments and any gain or loss resulting from |
| revaluing investments to market value at the end of the year. | |
| EXPENDITURE AND LIABILITIES | |
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation committing the |
| charity to pay out resources. | |
| Governance costs | Include costs of the preparation and examination of statutory accounts, the costs of trustee |
| meetings and cost of any legal advice to trustees on governance or constitutional matters. | |
| Grants with performance | Where the charity gives a grant with conditions for its payment being a specific level of service or |
| conditions | output to be provided, such grants are only recognised in the SoFA once the recipient of the grant |
| has provided the specified service or output. | |
| Grants payable without | These are only recognised in the accounts when a commitment has been made and there are no |
| performance conditions | conditions to be met relating to the grant which remain in the control of the charity. |
| Support Costs | Support costs include central functions and have been allocated to activity cost categories on a |
| basis consistent with the use of resources, eg allocating property costs by floor areas, or per | |
| capita, staff costs by the time spent and other costs by their usage. | |
| ASSETS | |
| Tangible fixed assets for use | These are capitalised if they can be used for more than one year, and cost at least £500. They |
| by charity | are valued at cost or a reasonable value on receipt. |
| Investments | Investments quoted on a recognised stock exchange are valued at market value at the year end. |
| Other investment assets are included at trustees' best estimate of market value. | |
| Stocks and work in progress | These are valued at the lower of cost or market value. |
| POLICIES ADOPTED | Not applicable |
| ADDITIONAL TO OR | |
| DIFFERENT FROM THOSE | |
| ABOVE |
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Section C Notes to the accounts (cont)
Note 3 Analysis of incoming resources
Incoming resources may be further analysed if this would help the reader of the accounts.
| Activities for generating funds Investment income Incoming resources from charitable activities Voluntary income |
Analysis | This year Last year £ £ |
This year Last year £ £ |
|---|---|---|---|
| Donations received | 426,000 | ||
| Gift aid reclaim | 106,500 | ||
| Accrued interest ongift aid reclaim | 402 | 1,655 | |
| - | - | ||
| - | - | ||
| Total | 532,902 | 1,655 | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| Income from Evelyn Partners portfolio | 34,642 | 30,543 | |
| CAF bank interest | 297 | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| Total | 34,939 | 30,543 | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - |
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Section C Notes to the accounts (cont)
Note 4 Analysis of resources expended
Resources expended may be further analysed if this would help the reader of the accounts.
| Charitable activities Governance costs Investment management costs Costs of generating voluntary income Fundraising trading costs |
Analysis | This year Last year £ £ |
This year Last year £ £ |
|---|---|---|---|
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| Donation to Brighton College | 56,300 | ||
| Donation to U Go Foundation | 46,638 | ||
| Donation to MCCF | 20,824 | ||
| Donation to The Wigmore Trust Directors Fund | 25,000 | ||
| Donation to Glyndebourne | 20,000 | ||
| Donation to The Creative Dimension Trust | 10,000 | ||
| Donation to Campaign for the Arts | 5,000 | ||
| Donation to Médecins Sans Frontières | 2,000 | ||
| Donation to Wigmore Hall Internatinal Quartet Competition | 2,000 | ||
| Donation to 20/20 Levels | 1,500 | ||
| Donation to Cancer Support | 1,000 | ||
| Donation to Melos Sinfonia Spotlight Chamber | 1,000 | ||
| Donation to Prisoners abroad charity | 1,000 | 1,000 | |
| Donation to Manchester Collective | 750 | ||
| Donation to London School of Economics | 1,250 | ||
| Donation to Maggini Quartet Charitable Fund | 750 | ||
| Donation to Aldingbourne Trust | 100 | ||
| Total | 193,012 | 3,100 | |
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - |
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Section C Notes to the accounts (cont)
Note 5 Support Costs
Please complete this note if the charity has analysed its expenses using activity categories and has support costs.
| costs. | ||||
|---|---|---|---|---|
| Support cost type | Fundraising activity £ |
Charitable Activity £ |
Governance Activity £ |
Total Cost £ |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| Total | - | - | - | - |
Note 6 Details of certain items of expenditure
6.1 Trustee expenses
Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).
Number of trustees who were paid expenses Nature of the expenses Total amount paid
| This year | Last year |
|---|---|
| None | None |
| £0 | £0 |
6.2 Fees for examination or audit of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).
| box(es). | ||
|---|---|---|
| Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts |
This year £ |
Last year £ |
| 720 | 720 | |
| 360 | 3,360 |
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Section C Notes to the accounts (cont)
Note 7 Paid employees The charity has no paid employees
7.1 Staff Costs
| Fundraising Charitable Activities Governance Other Total Gross wages, salaries and benefits in kind The parts of the charity in which the employees work 7.2 Average number of full-time equivalent employees in the year Employer’s National Insurance costs Pension costs Total staff costs |
Fundraising Charitable Activities Governance Other Total Gross wages, salaries and benefits in kind The parts of the charity in which the employees work 7.2 Average number of full-time equivalent employees in the year Employer’s National Insurance costs Pension costs Total staff costs |
This year £ |
Last year £ |
|---|---|---|---|
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| employees in the year | This year Number |
Last year Number |
|
| Fundraising | - | - | |
| Charitable Activities | - | - | |
| Governance | - | - | |
| Other | - | - | |
| Total | - | - |
7.3 Defined contribution pension scheme
Please complete if a defined contribution pension scheme is operated. Brief details of the scheme
The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end
| This year | Last year | |
|---|---|---|
| £ | £ | |
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Section C Notes to the accounts (cont)
Note 8 Grantmaking
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.
8.1 Total value of grants
| 8.1 Total value of grants | 8.1 Total value of grants | ||
|---|---|---|---|
| Purpose for which grants made | Grants to institutions Total amount £ |
Grants to individuals Total amount £ |
|
| See Note 4 | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| £ 8.1 Grantmaking costs If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported. 8.3 Grants made to institutions If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs. Support costs of grantmaking |
|||
| Names of institutions | Purpose | Total amount of grantspaid £ |
|
| See Note 4 | - | ||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Total grants to institutions | - |
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Section C Notes to the accounts (cont)
Note 9 Tangible fixed assets
Please complete this note if the charity has any tangible fixed assets
9.1 Cost or valuation
| Freehold land & buildings Other land & buildings Plant, machinery and motor vehicles Fixtures, fittings and equipment Payments on account and assets under construction Total £ £ £ £ £ £ Balance brought forward - - - - - - Additions - - - - - - Revaluations - - - - - - Disposals - - - - - - Transfers - - - - - - Balance carried forward - - - - - - Basis* SL or RB SL or RB SL or RB SL or RB SL or RB Rate Balance brought forward - - - - - - Depreciation charge for year - - - - - - Impairment provisions - - - - - - Revaluations - - - - - - Disposals - - - - - - Transfers - - - - - - Balance carried forward - - - - - - Brought forward - - - - - - Carried forward - - - - - - 9.3 Net book value 9.2 Accumulated depreciation and impairment provisions* |
Freehold land & buildings £ |
Other land & buildings £ |
Plant, machinery and motor vehicles £ |
Fixtures, fittings and equipment £ |
Payments on account and assets under construction £ |
Total £ |
|---|---|---|---|---|---|---|
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - |
9.4 Revaluation
If any fixed assets have been revalued please give details of the valuer and method of valuation
- The "transfers" row is for movements between fixed asset categories.
** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.
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Section C Notes to the accounts (cont)
Note 10 Investment assets
Please complete this note if the charity has any investment assets.
10.1 Fixed assets investments
| Add/(deduct):net gain/(loss) on revaluation Carrying (market) value at beginning of year Carrying (market) value at end of year Add:additions to investments at cost Less:disposals at carrying value |
£ |
|---|---|
| 1,840,965 | |
| 1,063,580 | |
| - 994,161 | |
| 71,493 | |
| 1,981,876 |
Please provide below:
10.2 A breakdown of the market values of investments shown above agreeing with the balance sheet row B03.
10.3 A breakdown of the income from investments agreeing with SOFA row S03.
| Analysis of investments Other investments Total Investment properties Securities not listed on a recognised Stock Exchange Cash held as part of the investment portfolio Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes Investments in subsidiary or connected undertakings and companies |
10.2 Market value at year end £ |
10.3 Income from investments for the year £ |
|---|---|---|
| - | - | |
| 1,981,876 | 1,840,965 | |
| - | - | |
| - | - | |
| 23,741 | 9,905 | |
| - | - | |
| 2,005,617 | 1,850,870 |
10.4 Material investment holdings
If any single investment is material in terms of its value (for example represents more than 5 per cent of the value of the charity’s total investments) please provide details.
Not applicable Investment held Market Value
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Section C Notes to the accounts (cont)
Note 11 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
| Analysis of debtors Trade debtors Amounts due from subsidiary and associated undertakings Other debtors Prepayments and accrued income Total |
Amounts falling due within oneyear |
Amounts falling due within oneyear |
Amounts falling due after more than oneyear |
Amounts falling due after more than oneyear |
|---|---|---|---|---|
| This year £ |
Last year £ |
This year £ |
Last year £ |
|
| - | - | - | - | |
| - | - | - | - | |
| 106,500 | 282,834 | - | - | |
| 1,655 | - | - | ||
| 106,500 | 284,489 | - | - |
Note 12 Creditors and accruals
Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors
| Loans and overdrafts Trade creditors Amounts due to subsidiary and associated undertakings Other creditors Accruals and deferred income Total |
Amounts falling due within oneyear |
Amounts falling due within oneyear |
Amounts falling due after more than oneyear |
Amounts falling due after more than oneyear |
|---|---|---|---|---|
| This year £ |
Last year £ |
This year £ |
Last year £ |
|
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| 1,870 | 720 | - | - | |
| 1,870 | 720 | - | - |
12.2 Security over assets
If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.
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Section C Notes to the accounts (cont)
Note 13 Endowment and restricted income funds
Please complete this section if the charity has any endowment or restricted income funds.
13.1 Funds held
Please give a brief description of any of the following type of funds held by the charity:
-
permanent endowment funds (PE);
-
expendable endowment funds (EE); and
-
restricted income funds, including special trusts, of the charity (R).
| Fund Name Type PE, EE or R Purpose and Restrictions |
Fund Name Type PE, EE or R Purpose and Restrictions |
Fund Name Type PE, EE or R Purpose and Restrictions |
|---|---|---|
| Not applicable | ||
13.2 Movements of major funds
Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.
| Fund names | Fund balances brought forward £ |
Incoming resources £ |
Outgoing resources £ |
Transfers £ |
Gains and losses £ |
Fund balances carried forward £ |
|---|---|---|---|---|---|---|
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| - | - | - | - | - | - | |
| Total Funds | - | - | - | - | - | - |
13.3 Transfers between funds
Please give details of any transfers between funds.
From Fund (Name) To Fund (Name) Reason Amount
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Section C Notes to the accounts (cont)
Note 14 Transactions with related parties
If the charity has any transactions with related parties (other than the trustee expenses explained in note 6) details of such transactions should be provided in this note. If there are no transactions to report, please enter “None” in the relevant boxes.
14.1 Remuneration and benefits
Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee or other related parties by the charity or any institution or company connected with it.
| Name of trustee or connected party | Legal authority (eg order, governing document) |
Amounts paid or benefit value | Amounts paid or benefit value |
|---|---|---|---|
| This year £ |
Last year £ |
||
| Not applicable | |||
14.2 Loans
Please give details of and amounts owing to or from the charity’s trustees or other related parties by the charity at the year end.
| Due to trustees and related parties Due from trustees and related parties |
Name of trustee or connected party |
Legal authority | Amount owing | Amount owing |
|---|---|---|---|---|
| This year £ |
Last year £ |
|||
| Not applicable | ||||
| Not applicable |
14.3 Other transaction(s) with trustees or related parties
Please give details of any transaction undertaken by (or on behalf of) the charity in which a trustee or related party has a material interest.
| has a material interest. | ||||
|---|---|---|---|---|
| Name of the trustee or related party |
Relationship to charity | Description of the transaction(s) |
This year £ |
Last year £ |
| Neville Abraham | Trustee | Donation | 426,000 | 0 |
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ection C Notes to the accounts (cont)
ote 15 Additional Disclosures
he following are significant matters which are not covered in other notes and need to be included to provide a roper understanding of the accounts. If there is insufficient room here, please add a separate sheet.
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Section C Notes to the accounts (cont)
Note 16 Reconciliation of net income/(expenditure) to net cash flow from operating activities Current Prior Year Year
| Current Year Prior Year |
Current Year Prior Year |
|
|---|---|---|
| Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Dividends, interest and rents from investments (Gains)/losses on investments Loss/(profit) on the sale of fixed assets (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities |
£ £ |
|
| 406,750 | 73,245 - |
|
| -34,934 | -30,543 | |
| -71,493 | 79,852 | |
| 177,989 | -1,655 | |
| 1,150 | - 2,280 | |
| 479,462 | 27,871 - |
Section C Notes to the accounts (cont)
Note 17 Analysis of cash and cash equivalents Current Prior Year Year £ £ Cash in hand 492,120 47,143 Notice deposits (less than 3 months) Overdraft facility repayable on demand Total cash and cash equivalents 492,120 47,143
| Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | Section C Notes to the accounts (cont) | |
|---|---|---|---|---|---|---|---|---|
| Cash Cash equivalents Overdraft facility repayable on demand Loans falling due within one year Loans falling due after more than one year Finance lease obligations |
At start of year Cashflows Acquisition/ disposal of subsidiaries New finance leases Fair value movements Foreign exchange movements Other non-cash changes At end of year Note 18 Analysis of changes in net debt |
|||||||
47,143 |
444,977 | 492,120 |
||||||
| 47,143 | 444,977 | - | - | - | - | - | 492,120 | |
| - | - | - | - | - | - | - | - |
Eo! CHARITY COMMISSION | Independent examiner's report on the FOR ENGLAND AND WALES accounts
Section A
Independent Examiner’s Report
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Report to the trustees to the trustees the trustees trustees
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Report to the trustees to the trustees the trustees trustees The Neville Abraham Foundation
On accounts for the year | 5 April 2024
ended
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Charity no | 328636
(if any)
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Responsibilities and | report to the trustees on my examination of the accounts of the above basis of report charity (“the Trust’) for the year ended 05/04/2024.
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”).
| report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
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Independent | have completed my examination. | confirm that no material matters have
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examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect: e the accounting records were not kept in accordance with section 130 of the Charities Act; or
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e the accounts did not accord with the accounting records; or
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e the accounts did 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.
| 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.
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Name: | Darren Christopher Hobson BSC FCA CTA
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Relevant professional | Institute of Chartered Accountants in England and Wales
qualification(s) or body | Chartered Tax Adviser
(if any):
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Address: | 8 Cae Mair, Llanfair Dyffryn Clwyd Ruthin, Denbighshire LL15 2AJ
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