## **QUEEN ELIZABETH FOUNDATION Registered Charity Number 526600** **TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** Freeman & Co **Queen Elizabeth Foundation Contents** ||**Page**| |---|---| |Charity Information|1| |Trustees Report|2| |Accountant's Report|3| |Statement of Financial Activity|4| |Balance Sheet|5| |Notes to the Financial Statements|6| **Queen Elizabeth Foundation Company Information For The Year Ended 31 December 2023** **Trustees** Mr Roy Davies Karin Tweedale, Hopwood College Yvonne Mills, Hopwood College Elan McQuaid, St Annes James Toland, Cardinal Langley Siobhan Hoolickin, Middleton Technology School Brenda Simpson David Roberts David Lees Philip Bell Peter Hayward Gill Carroll, Secretary **Accountants** Freeman & Co 7 Moor View Croft Crosspool Sheffield South Yorkshire S10 5QA **Bankers** Barclays Bank Page 1 **Queen Elizabeth Foundation** **Trustees Report For The Year Ended 31 December 2023** The trustees present their report and the financial statements for the year ended 31 December 2023. ## **Statement of Trustees Responsibilities** The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations. R E Davies Date 24 Jul 2024 Page 2 **Queen Elizabeth Foundation Accountant's Report For The Year Ended 31 December 2023** In accordance with the engagement letter dated 25[th] June 2024, and in order to assist you to fulfil your duties under the Charities Act 2011, we have compiled the financial statements of the charity from the accounting records and information and explanations you have given to us. This report is made to the trustees in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the trustee the financial statements that we have been engaged to compile, to report to the trustee that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s trusteesr for our work or for this report. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’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. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or · 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. 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. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. ned > Date 24 Jul 2024 Freeman & Co 7 Moor View Croft Crosspool Sheffield South Yorkshire S10 5QA Page 3 **Queen Elizabeth Foundation Statement of Financial Activity For The Year Ended 31 December 2023** ||**2023**||**2022**|| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |**INCOME**||||| |Investment Income||43,569||43,297| |**Administrative Expenses**||||| |Grants to individuals|36,840||37,565|| |Accountancy fees|1,800||1,800|| |Sundry expenses|734||597|| |||(39,374 )||(39,962 )| |OPERATING SURPLUS FOR THE YEAR||4,196||3,335| The notes on page 6 form part of these financial statements. Page 4 ## **Queen Elizabeth Foundation Balance Sheet As At 31 December 2023** |**Notes**
**CURRENT ASSETS**
Investments
**3**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**4**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Capital Funds Permanent Endowment
Income Funds Unrestricted Funds
**TOTAL FUNDS**|**2023**
**£**
**£**
841,800
13,004
**854,804**
**(1,870)**
**852,934**
**852,934**
**852,934**
200,000
652,934
**852,934**|**2023**
**£**
**£**
841,800
13,004
**854,804**
**(1,870)**
**852,934**
**852,934**
**852,934**
200,000
652,934
**852,934**|**2022**
**£**
**£**
841,800
8,808
**850,608**
**(1,870)**

**848,738**

**848,738**

**848,738**

200,000

648,738

**848,738**|**2022**
**£**
**£**
841,800
8,808
**850,608**
**(1,870)**

**848,738**

**848,738**

**848,738**

200,000

648,738

**848,738**| |---|---|---|---|---| ||**854,804**
**(1,870)**||**850,608**
**(1,870)**|| ||||




|| |||**852,934**||**848,738**| |||**852,934**||**848,738**| |||200,000
652,934||200,000
648,738| |||**852,934**||**848,738**| On behalf of the board ## Date The notes on page 6 form part of these financial statements. Page 5 **Queen Elizabeth Foundation Notes to the Financial Statements For The Year Ended 31 December 2023** ## **1. General Information** Queen Elizabeth Foundation is a registered charity number 526600 ## **2. Accounting Policies** ## **2.1. Basis of Preparation of Financial Statements** The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. ## **Recognition of income** These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - it is more likely than not that the trustees will receive the resources; and - the monetary value can be measured with sufficient reliability. ## **Liability recognition** Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Where the charity gives a grant with conditions for its payment being a specific level of **Grants with performance** service or output to be provided, such grants are only recognised in the SoFA once the **conditions** recipient of the grant has provided the specified service or output. Where there are no conditions attaching to the grant that enables the donor charity to **Grants payable without** realistically avoid the commitment, a liability for the full funding obligation must be **performance conditions** recognised. ## **3. Current Asset Investments** |Listed investments – COIF Charities Fund
Listed investments – COIF Property Fund
Short term deposits|**2023**
**£**
**Cost**
641,740
200,000
60
841,800|**2023**
**£**
**Value**
1,251,848
167,657
64

1,419,569| |---|---|---| ## **4. Creditors: Amounts Falling Due Within One Year** ## Accruals |**2023**|**2022**| |---|---| |**£**|**£**| |1,870|1,870| Page 6 ## **Issuer** Freeman & co **Document generated** Tue, 23rd Jul 2024 16:42:43 BST **Document fingerprint** 6359d6dd8b5c34c2c56d92da989b4217 ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Wed, 24th Jul 2024 18:32:18 BST Wed, 24th Jul 2024 19:10:46 BST Mr Roy Davies - Signer (2e06dd397a063194a35e8a24cf754f34) Hub Administrator - Signer (e8d019a5dd50d41ed1a5e80f625b2e10) ## **Audit history log** ## **Date** ## **Action** Tue, 23rd Jul 2024 16:42:43 BST Tue, 23rd Jul 2024 16:42:44 BST Tue, 23rd Jul 2024 16:42:44 BST Tue, 23rd Jul 2024 16:42:44 BST Tue, 23rd Jul 2024 16:42:44 BST Tue, 23rd Jul 2024 16:42:44 BST Tue, 23rd Jul 2024 16:42:50 BST Tue, 23rd Jul 2024 19:53:05 BST Wed, 24th Jul 2024 18:29:11 BST Wed, 24th Jul 2024 18:32:18 BST Wed, 24th Jul 2024 18:32:19 BST Wed, 24th Jul 2024 18:32:19 BST Wed, 24th Jul 2024 18:32:19 BST Wed, 24th Jul 2024 19:10:28 BST Wed, 24th Jul 2024 19:10:46 BST Wed, 24th Jul 2024 19:10:46 BST Wed, 24th Jul 2024 19:10:46 BST Envelope generated with fingerprint 94611d98ca0250a5a827e7cf539d27e635.176.231.177 Document generated with fingerprint 6359d6dd8b5c34c2c56d92da989b4217.18.134.147.196 Envelope generated.18.134.147.196 Mr Roy Davies has been assigned to this envelope.18.134.147.196 Hub Administrator has been assigned to this envelope.18.134.147.196 Sent the envelope to Mr Roy Davies for signing.18.134.147.196 Document emailed to party email13.40.113.203 Mr Roy Davies viewed the envelope82.28.214.129 Mr Roy Davies viewed the envelope82.28.214.129 Mr Roy Davies signed the envelope82.28.214.129 Sent the envelope to Hub Administrator for signing82.28.214.129 Document emailed to party email18.134.14.167 Mr Roy Davies viewed the envelope82.28.214.129 Hub Administrator viewed the envelope81.77.109.169 Hub Administrator signed the envelope81.77.109.169 This envelope has been signed by all parties81.77.109.169 Hub Administrator viewed the envelope81.77.109.169