Charity Number: 800015 The Champniss Foundation Finaneial Statement$ for the year ended 05 April 2024
The Champniss Foundation Page Contents Infomation Trustees, Annual Report Accountants, Report Income and Expenditure Account Balance Sheet Page I
The Champniss Foundation Information Registered Charity Number 800015 Chairman of Trustees Mr R. N. Hobson Registered OffKe 26 Park Road Bushey Herts WD23 3EQ Trustees Mr 11 N. Hobson Mr J. S. Lane Mr B D A Welch (appointed 1615122) Independent Examiners Macalvins Limited Chartered Accountants & Registered Auditors 7 St John's Road, Harrow, Middlesex HAI 2EY Page 2
Tbe Champniss Foundation Report of tbe trustees for the year ended 5 April 2024 The Trustees present their Report and Financial Statements of the charity for the year ended 05 April 2024. The financial statements have been prepared in accordance with the charity's trust deed, 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. Structure, Governanee and Management The body responsible for the management of the Charity is the Board of Trustees. The Board of Trustees meet regularly to manage its at"tairs. The Champniss Foundation is an unincorporated charity, registered number 800015 which was Created by a declaration of trust on 5th February 1988. The trust fund was fom]ally created by the latc Mr G H C Champniss, the late Mrs D Champniss, the late Mr L J Champniss and the late Mr A B Champniss on 5 February 1988 and is registered by the Charity Commission. The income of the trust is exempt from taxation. Board of Trustees The Board of Trustees who served during the year 2023124 are listed on page 2 of the financial statements. Trustees are appointed under the statutory power of appointment exercisable by the Trustees. Organisation Strllcture The charity is administered by the trustees comprising of the individuals who are the trustees of the charity at any given time including the first trustees and their succeswrs. In selecting individuals for appointment as trustees, the trustees have regard to the skills, knowledge and experience required for the effective administration of the Foundation. Objectives and activities The trust fund is held for the benefit or furtherance of such charitable institution or charitable purposes in such manner and (if more than one) in such shares as the Trustees shall in their absolute discretion from time to time determine. In particular but without prejudice to the generality of the foregoing, the trust fund is held for the advancement of education among pupils attending a school, college or other educational establishment by awarding scholarships, to be known as Champniss Foundation Scholarships, ro one or more pupils who are under twenty-five years of age at such time and in such manner as the Trustees shall ID th¢ir absolute discretion think fit. The Trust has historically been financed by contributions from Panstar Group Ltd. a company regiskred in England and Wales which company has now been voluntarily liquidated. One of the Truslees, Mr. A.B. Champniss (died 7/1122) has Elliide substanlial donations to the Trust to secure its income for the tuture. The Trustees apply the Trust Funds at their discretion. Achievement and Performance During the year under review the trust made multiple donations for a number of charitable purposes including scholarships to Mountvicw, the PurLell School and thc Grosvenor Chapel and donations to Speak Out in Hounslow, St Albans International Organ Festival, The Chapter at Wells Cathedral, Speak & Language UK, Ataxia UK, Second Chance Children's Charity. The Carers, Trust, Howe Dell School, De Paul UK. Hounslow Arts Trust, The Red Trust Bushey, The Urology Foundation and the GrosvenuT Chapel (in addition to an organ scholarship). Financial Review During the year ended 5 April 2024 income from Dividends receive interest and rent amounted to £245,991 against which was charged expenditure of £30,980 and donations made of £167,986. Surplus income of £503.292 has been catried forward. Page 3
The Champniss Foundation During the year a further sum of £743,268 was received from the estate of the late Alfred Bertram Champniss who died on 7 January 2022. The sum was received after the necessary authorisation from The Charity Commission pursuant to section 105 of the Charities Act 201 I which was obtained for the Trustees to consent on behalf of the Champniss Foundation to a proposed partition of the Residuary Estate Will Trust of the Will or the late Alfred Bertram Champniss of which the Champniss Foundation was the remaindern]an, the life tenants under the Residuary Will Trust being the trustees ofthe Foundation aside from Jonathan Lane. This arrangement has very significantly accelerated the Foundation's enjoyment of its entitlements under the Residuary Will "frust. Reserves Policy Charitable free reservcs are defined as incoTne which becomes available to the charity and is to be %pent at the trust¢¢'s discretion in furtherance of any of the charity's objectives, but which is not yet spent, committed or designated. Risks Management The Trustees havc assessed the rnajoT risks to which the Charity is exposed on an ongoing basis and are salisfied that systems are in place to reduce exposure to these risks. Statement of trustees, respoDsibilities The trustees are responsible for PTeparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepaTe 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 application of resources of the charity for that period. In preparing these financial stalements, the trustees are required to". Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgements and estimates that are Teasonable and prudent. State whether applicable accounting standards have been followed, subject to any malerial departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the chaTity will continue in operation. The trustees are responsible for keeping proper accounting records that disclosc with rea50nablc accuracy at any time the financial position of the charity and enablc them to ensure that the financial statements comply with the Charities Act 201 l. The Irustees are also responsible foi safeguarding the as.sets of the charity and hence for tdking reasonable steps foT thc prevention and detection of fraud 4d other irregularities. Jonathen Lane's firm, J S Lane & Co Solicitors are a service provid¢r for the charity and the firni is paid a commercial rate for its services This report has been approved by the Board of Trustees on 16101125 and signed on its behalf by R. N. Hobson Trustee Page 4
The Champniss Follndation Accountants, re)rt on the unaudited financial ststements to the trustees of The Champniss Foundation We report on the financial statements for the year ended 5 April 2024 set out on pages 6 and 7. Respective responsibilities of Trustees and Independent examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audil is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and ihat an independent examination is needed. It is our responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5Xb) of the Charities Act), and to State whelher particular matters have come to our attention. Basls of oplnfion Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination ilUdeS a review ofthe accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view, and the report is limited to those matters set out in the statem¢nt below. Independent examiner's stalement In connection with our examination, no matter has come to our attention: ( l ) which gives us rcasonable cause to believe that in, any material respecL the requirements: to keep accounting records in accordance with section 130 of the Charities Act. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met. or (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to b¢ reached. Macalvins Limited 7 St John's Road Harrow Middlesex HAI 2EY Page 5
The Champniss Foundatio Ineome and Expenditure Account for the year ended 5 April 2024 2024 2023 INCOME Dividends received Other Interest received Rent received Mortgage Interest receivable 180,970 41,438 13,500 10,083 187,684 8,515 12,122 245,991 EXPENDITURE Accountancy fee Professional f¢¢s Insurance Donations Bank charges Trustee travel expenses 208,321 4,680 24,700 806 167,986 21 773 7,380 25,540 791 221,320 13 875 198,966 255,919 Surplus/(DefIciency) of income over expenditure 47,025 47,598) Revenue account for the year ended 5 April 2024 Funds brought forward 456,267 503,865 Surplus/(Deficit) as above 47,025 {47,598) Funds carried forward 503,292 456,267 Capital account for the ye2r ended 5 April 2024 Funds brought forward 6,755,967 6,260,942 Donations received 743,268 1,030,129 Unrealised gain/(loss) on managed portfolio 529,588 (535,104) Funds Caled fonvard 8,028,823 6,755,967 Page 6
The ChampD15S Foundation Balance Sheet as at 5 April 2024 2024 2023 Fixed Asset5 Freehold Property at cost 307.501 307,501 Current A55ets Cash at bank 1,722,615 1,186,054 Mortgages 260,083 Investments- Managed portfolio (stated at Market value) 6,233,689 5,704,101 Debtors (JS Lane & Co.) 12,907 37,258 Creditors". amounts falling due within one year (4,680) {22,680) Net Current Assets 8,224,614 6,904,733 8,532,115 7,212,234 Unrestrieted Fund Capital Fund 8,028,823 6,755,967 Income Fund 503,292 456,267 Total Fund 8,532,115 7,212,234 Approved by the Board of Trustees on Sied on its behalf by IL N. Hobson Trustee J.S, LAAE T0sT& 5.b.k. p4ELC4 TRS Page 7