Company registration number: 02288815 Charity registration number: 800435
The Douglas Bader Foundation
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 October 2022
The Douglas Bader Foundation
Contents
| Trustees' Report (including Directors' Report) | 1 to 5 |
|---|---|
| Statement of Trustees' Responsibilities | 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Statement of Cash Flows | 10 |
| Notes to the Financial Statements | 11 to 24 |
The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and independent examiner’s report of the charitable company for the year ended 31 October 2022.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and the Charities Statement of Recommended Practice (“Charities SORP”) (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 102) issued in October 2019.
Trustees
S K Riddick
G Jackson R Pascall
G J P Cadbury
Objectives and activities
Objects and aims
The principal activities of the Foundation are to collect funds to advance and promote the physical, mental and spiritual welfare and benefit of persons who are disabled, in particular, those without one or more limbs, and to relieve financial hardship amongst such persons.
The charity’s initial focus was on helping amputees but, over the years, it has broadened its aims to include those with other disabilities.
Public benefit
The charity furthers its charitable purposes for the public benefit through its grant making policy as described below.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Grant making policies
Currently the Douglas Bader Grant Scheme provides practical support for the pursuance of achievements by those with disabilities. This initiative has assisted and will continue to assist countless disabled individuals and groups throughout the UK to achieve a variety of goals in diverse areas ranging from education, the arts, sport and recreation to small businesses. Please refer to achievements and performance to see how these grants contributed to our aims and objectives for the year.
Use of volunteers
The charity relies on volunteers to run its Bader Braves flying days, who provide their flying skills.
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The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
Achievements, performance and plans for future periods
With the Management Team still under COVID restrictions for the first 6 months of this year and unable to plan Events in the normal way again, we were able to look at alternative strategies for the Summer/Autumn period in terms of how we managed events.
Our concept is to work with those who provide facilities and activities, self-managed them, recruited, received enquiries, targeted towards the population we support.
To focus on Bader Grants applications, support the implementing of the success of the ongoing KOALAA MITT appeal for the FREE provision of upper arm prosthetics to children.
To look towards the 40[th] anniversary year of the Foundation created in 1982 and how best to acknowledge that.
BADER BRAVES FLYING DAYS
We were able to, at short notice, deliver three Bader Braves flying Days during the summer - one of which was postponed from the previous COVID year and self-organised.
SEND SCHOOLS
We continued our relationship with Accessible Boating at Bisham with SEND schools from their county area over a 2-week period.
SAILABILITY
Selected and approached and agreed with seven Sailability locations in GB in the late summer the concept of DBF funding a bursary/grant to enable those adults and children with different abilities in their area to experience sailing and boating and to reach out to SEND schools in their area to also offer them the opportunity. We have had fast success with one location and the other locations are gearing up for this for the next year. We feel that we can build on this model of support with other 3[rd] party organisations in the future.
GRANTS
Our Grants have covered a wide area of applications within the categories of SPORT, ARTS, TRAINING, EQUESTRIAN, and PROSTHETICS. We continue to also support activities in association with other Charitable organisations who focus on the same areas of difference.
KOALAA MITT
This has been a hugely successful campaign that has really caught the support of the general public as well as significant support from other donors across the Giving spectrum. We have been able to provide 500 children within Great Britain with a Free upper arm prosthetic.
BADER’S BIG BAND
Bader’s Big Band is a 17-piece band with a wide range of different disabilities. They have developed into an excellent band, continuing from strength to strength. The band made appearances at DUXFORD, RAF CLEMENT DANES, and STEEL BONES GALA this last period and has great plans for the next year.
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The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
40[th] ANNIVERSARY BOOK
To celebrate our coming 40[th] anniversary, our CEO and stepson-in-law of Douglas Bader and co-founder of DBF, David Bickers, suggested capturing the work of the Foundation since its inception in 1982. The Title LEGEND TO LEGACY would enable the story of Douglas to remind us of his legacy and Inspiration to the able and disabled alike. It features memorabilia, the history of the Foundation in his name, and his achievements. It also acknowledges the many charities with whom we work, our Grants receivers, Ambassadors and Trustees over the years. The Book will be completed in time for the 40th Anniversary.
We look forward with positivity and a desire to assist our Community during the next year.
Financial review
The charity's total funds in the year ended 31 October 2022 decreased by £288,846 (2021 - increase of £125,448).
Within this financial year we have again received a large number of donations specifically towards our LIMITTLESS APPEAL, receiving donations of £230,800 between December 2021 – June 2022 enabling a further 200 children to receive the consultation and free bespoke arm prosthetic from KOALAA MITT.
With the agreement of our trustees we again anticipated the need to utilise our investment resources for our grant scheme, our Bader’s Big Band, and other future initiatives requiring ongoing Zoom discussions with the many charities in our same area that support each other on the many events and activities we wish to put on in the future. It is our view that the income raised, donated, and received as inheritances are for the purpose of delivering on our normal output of projects, grants and activities to our community and that is what the Foundation has done.
Policy on reserves
The trustees have reviewed the level of reserves that the charity requires to sustain its operations considering the main risks to the organisation. Following a recent review of levels of commitment and discussions with members of staff, some of whom were partially furloughed, it has been agreed that the level of unrestricted funds required to meet the Foundation’s obligations should be £80,000. This would enable the charity to continue operating for three to six months.
The total reserves at 31 October 2022 were £401,783 (2021 – £690,621) of which £390,664 (2021 - £545,105) represented unrestricted funds and £11,119 (2021 - £145,524) represented restricted funds. The total reserves allow the Foundation to continue for a further six years carrying out its work and enabling the continuous legacy of Douglas Bader.
Investment policy and objectives
The investments with Mulberry Bow LLP comprised a discretionary portfolio managed by AJ Bell made up of three funds. The investment goals remain to provide superior returns to cash over the medium term and to achieve capital growth whilst being able to draw on income if and when required. There are no restrictions on withdrawing the money from any of the investments.
Structure, governance and management
Nature of governing document
The Douglas Bader Foundation was established on 27 October 1982 by trust deed. On 23 August 1988 a new company limited by guarantee (company registered number 02288815 in England & Wales) was incorporated under the Companies Act 1985 to carry on the activities of the foundation. The company is registered as a charity, number 800435.
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The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
Recruitment and appointment of trustees
As set out in the Articles of Association the number of trustees shall not be less than four and not more than fifteen. The trustees may appoint any member of the company as a trustee either to fill a casual vacancy or as an addition to the Board. Any trustee appointed in this way shall retain office until the next Annual General Meeting and will then be eligible for re-election.
The charity is organised so that the trustees communicate regularly to manage its affairs. A Chief Executive officer, D C T Bickers, manages the day-to-day operations of the charity including fundraising and development of new initiatives.
Induction and training of trustees
New and prospective trustees are usually familiar with the charity’s objectives and its ongoing work. They are invited to attend meetings with the existing trustees in order to further familiarise themselves with the charity and its operations. The attention of new trustees is also drawn to various Charity Commission publications covering trustees’ responsibilities and they are provided with a copy of the Memorandum and Articles of Association and the latest financial statements.
Arrangements for setting key management personnel remuneration
The board of directors, who are the Foundation's trustees, together with the Chief Executive Officer comprise the key management personnel of the charity in charge of directing, controlling and running the charity on a day today basis. The trustees do not receive any remuneration but details of their expenses and related party transactions are disclosed in the notes to the accounts.
The remuneration of the charity's key management personnel is reviewed by the trustees annually and with reference to similar positions in similar organisations. There has been very little change in salary levels in recent years as funds have been low and the provision of events and services has remained the priority.
Major risks and management of those risks
Loss of key management personnel
The trustees believe that the loss of the current management team constitutes the main risk faced by the charity. The key personnel, having considered their ages, intend to continue in their roles for the next 5 years. They are mindful of the need to bring on board younger staff who will gain management experience and be able to support the charity's activities if required and this is under review.
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The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
Reference and Administrative Details
| Chairman | G J P Cadbury |
|---|---|
| Chief Executive Officer | D C T Bickers |
| Secretary | D C T Bickers |
| Principal Office | 2A Conigre House |
| 5 Kingsfield Grange Road | |
| Bradford on Avon | |
| BA15 1BE | |
| Registered Office | 69 Carter Lane |
| London | |
| EC4V 5EQ | |
| The Charity is incorporated in England & Wales. | |
| Company Registration Number | 02288815 |
| Charity Registration Number | 800435 |
| Solicitors | RWK Goodman |
| 69 Carter Lane | |
| London | |
| EC4V 5EQ | |
| Bankers | Lloyds Bank plc |
| 6 Pall Mall | |
| London | |
| SW1Y 5NH | |
| Accountants | Anglo Dutch |
| Chartered Certified Accountants | |
| The Counting House | |
| High Street, Tring | |
| HP23 5TE |
In preparing this report, the trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.
The annual report was approved by the trustees of the Charity on 16 May 2023 and signed on its behalf by:
GJP Cadbury Trustee
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The Douglas Bader Foundation
Statement of Trustees' Responsibilities
The trustees (who are also the directors of The Douglas Bader Foundation for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles 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 financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the Charity on 16 May 2023 and signed on its behalf by:
GJP Cadbury Trustee
Page 6
The Douglas Bader Foundation
Independent Examiner's Report to the Trustees of The Douglas Bader Foundation
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 October 2022 which are set out on pages 8 to 24.
Responsibilities and basis of report
As the charity trustees of the company (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. I confirm that bookkeeping services are provided to the Charity by Pulse Accountants Limited (trading as Anglo Dutch). I also confirm that I am a member of ACCA and that body is subject to the provisions of the Revised Ethical Standard 2016 issued by the Financial Reporting Council (FRC).
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA which is one of the listed bodies. I have completed my examination. I confirm that no 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 company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Helen Imrie FCCA
52a Western Road Tring HP23 4BB
Date: 15 June 2023
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The Douglas Bader Foundation
Statement of Financial Activities for the Year Ended 31 October 2022 (Including Income and Expenditure Account)
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | Restricted funds | 2022 | 2021 | |||
| Note | £ | £ | £ | £ | ||
| Income from: | ||||||
| Donations and legacies | 2 | 142,145 | 211,331 | 353,476 | 768,489 | |
| Coronavirus Job Retention | ||||||
| Scheme | - | - | - | 34,540 | ||
| Investment income | 3 | 58 | - | 58 | 64 | |
| Total Income | 142,203 | 211,331 | 353,534 | 803,093 | ||
| Expenditure on: | ||||||
| Raising funds | 4 | (113,685) | (48,090) | (161,775) | (171,358) | |
| Charitable activities | 5 | (167,880) | (297,646) | (465,526) | (587,443) | |
| Total Expenditure | (281,565) | (345,736) | (627,301) | (758,801) | ||
| Net income /(expenditure) | (139,362) | (134,405) | (273,767) | 44,292 | ||
| (Loss) Gains on investment | ||||||
| assets | (15,079) | - | (15,079) | 81,156 | ||
| Net movement in funds | (154,441) | (134,405) | (288,846) | 125,448 | ||
| Reconciliation of funds | ||||||
| Total funds brought forward | 545,105 | 145,524 | 690,629 | 565,181 | ||
| Total funds carried forward | 17 | 390,664 | 11,119 | 401,783 | 690,629 |
The notes on pages 11 to 24 form part of these financial statements
Page 8
The Douglas Bader Foundation
(Registration number: 02288815) Balance Sheet as at 31 October 2022
| 2022 2021 |
|
|---|---|
| Note | £ £ |
| Fixed assets | |
| Tangible assets 11 |
1,801 606 |
| Investments 12 |
367,215 522,882 |
| 369,016 523,488 |
|
| Current assets | |
| Debtors 13 |
8,618 6,284 |
| Cash at bank and in hand | 42,399 168,372 |
| 51,017 174,656 |
|
| Creditors: Amounts falling due within oneyear 14 |
|
| (17,028) (7,515) |
|
| Net current assets | |
| 33,989 167,141 |
|
| Total assets less current liabilities | |
| 403,005 690,629 |
|
| Creditors: Amounts fallingdue after more than oneyear 15 |
|
| (1,222) - |
|
| Net assets | |
| 401,783 690,629 |
|
| Funds of the Charity: | |
| Restricted income funds | |
| 11,119 145,524 |
|
| Unrestricted income funds | |
| Unrestricted income funds | 390,664 545,105 |
| Total funds 17 |
|
| 401,783 690,629 |
The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.
The trustees acknowledge their responsibilities for:
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(i) ensuring that the company keeps adequate accounting records which comply with section 386 of the Act, and
-
(ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
The financial statements on pages 8 to 24 were approved by the trustees, and authorised for issue on 16 May 2023 and signed on their behalf by:
GJP Cadbury Trustee
The notes on pages 11 to 24 form part of these financial statements
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The Douglas Bader Foundation
Statement of Cash Flows for the Year Ended 31 October 2022
| 2022 2021 |
|
|---|---|
| Note | £ £ |
| Cash flows from operating activities | |
| Net cash income/(expenditure) | |
| (288,846) 125,448 |
|
| Adjustments to cash flows from non-cash items | |
| Depreciation 4 |
1,198 705 |
| Investment income 3 |
(58) (64) |
| Loss on sale of tangible fixed assets | 6 - |
| Loss on revaluation of investments | 15,079 (81,156) |
| (272,621) 44,933 |
|
| Working capital adjustments | |
| (Increase)/Decrease in debtors 13 |
(2,334) 22,556 |
| (Decrease)/Increase in creditors 14,15 |
10,735 (8,303) |
| Net cash flows from operatingactivities | |
| (264,220) 59,186 |
|
| Cash flows from investing activities | |
| Interest receivable and similar income 3 |
58 64 |
| Purchase of tangible fixed assets 11 |
(2,399) - |
| Proceeds from sale of tangible fixed assets | - - |
| Purchase of investments 12 |
(179,444) (499,950) |
| Proceeds from sale of investments 12 |
304,442 595,119 |
| Transfer to cash held for investment | 15,590 (16,219) |
| Dividends from investments | - - |
| Net cash flows from investingactivities | |
| 138,247 79,014 |
|
| Net (decrease)/increase in cash and cash equivalents | |
| (125,973) 138,200 |
|
| Cash and cash equivalents at 1 November 2021 | |
| 168,372 30,172 |
|
| Cash and cash equivalents at 31 October 2022 | |
| 42,399 168,372 |
The notes on pages 11 to 24 form part of these financial statements
Page 10
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with the Charities: Statement of Recommended Practice (applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
Basis of preparation
The Douglas Bader Foundation is a private company limited by guarantee incorporated in England & Wales (registered number 02288815). The Douglas Bader Foundation is also a charity registered in England & Wales (registered number 800435). In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information included in the Trustees' Report as are the nature of the charity's operations and principal activities.
The Douglas Bader 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The items in the financial statements where these estimates and judgements have been made include the useful economic lives of tangible fixed assets. The annual depreciation charges for the tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of the assets.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
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The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacies are recognised at the earlier of the charity being notified of an impending distribution or the legacy being received. If a legacy is notified but it is not possible to measure the exact amount expected to be distributed the legacy is treated as a contingent asset and disclosed.
Donated services are recognised in income at their fair value when their economic benefit is probable and can be measured reliably. Fair value is determined on the basis of the value of the gift to the charity, for example the amount the charity would be willing to pay in the open market for such services. A corresponding amount is recognised in expenditure.
Royalty income
Royalty income is recognised when the charity has been notified of the amount receivable.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Government grants
Income from the Coronavirus Job Retention Scheme is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to costs of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
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The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustee’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Furniture and equipment | 25% straight line |
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Debtors
Short term debtors are initially measured at the transaction price, less any impairment. Prepayments are measured at the amount prepaid.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount after allowing for trade discounts.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
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The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
The Douglas Bader Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Income from donations and legacies
| Unrestricted Total Total |
|
|---|---|
| funds Restricted funds 2022 2021 |
|
| £ £ £ £ |
|
| Donations and legacies; | |
| Donations | 142,145 211,331 353,476 768,489 |
| Legacy | - - - - |
| Royalties | - - - - |
| 142,145 211,331 353,476 768,489 |
Donations include £NIL (2021 - £NIL) in respect of donated services relating to the Bader Braves Flying Days. These events can only take place thanks to the contribution of volunteers who provide their flying skills and aircraft to the Foundation free of charge, and airfields where no charge is made for landing fees and other associated costs. The estimated value of these fees is recognised within income as a donation and an equivalent charge is included in professional fees.
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The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
3 Investment income
| Unrestricted Total Total |
|
|---|---|
| funds 2022 2021 |
|
| £ £ £ |
|
| Interest receivable and similar income; | |
| Interest receivable on bank deposits | 58 58 64 |
| 58 58 64 |
4a Expenditure on raising funds
Costs of generating donations and legacies
| Unrestricted Total Total |
|
|---|---|
| funds Restricted funds 2022 2021 |
|
| £ £ £ £ |
|
| Marketing and publicity | 92,075 39,251 131,326 125,759 |
| Other direct costs of generating | |
| voluntaryincome | 21,610 8,839 30,449 45,599 |
| 113,685 48,090 161,775 171,358 |
4b Expenditure on raising funds – previous year
Costs of generating donations and legacies
| Unrestricted Total Total |
|
|---|---|
| funds Restricted funds 2021 2020 |
|
| £ £ £ £ |
|
| Marketing and publicity | 13,381 112,378 125,759 116,131 |
| Other direct costs of generating | |
| voluntaryincome | 14,336 31,263 45,599 28,219 |
| 27,717 143,641 171,358 144,350 |
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The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
5a Expenditure on charitable activities
| Activity | |
|---|---|
| undertaken Grant funding of Activity support Total Total |
|
| directly activity costs 2022 2021 |
|
£ £ £ £ £ |
|
| Bader Braves | 18,426 4,909 12,382 35,717 17,859 |
| Bus Company/Big | |
| Band | 21,656 675 8,365 30,696 3,412 |
| MITT appeal | 21,180 230,800 6,416 258,396 411,834 |
| Website & | |
| communication | 19,502 - 4,201 23,703 22,577 |
| Other events | 31,044 80,971 4,999 117,014 131,761 |
| 111,808 317,355 36,363 465,526 587,443 |
5b Expenditure on charitable activities – previous year
| Activity | |
|---|---|
| undertaken Grant funding of Activity support Total Total |
|
| directly activity costs 2021 2020 |
|
£ £ £ £ £ |
|
| Bader Braves | 13,237 - 4,622 17,859 50,129 |
| Bus Company/Big | |
| Band | 3,412 - - 3,412 19,835 |
| MITT appeal | 21,695 382,400 7,739 411,834 - |
| Website & | |
| communication | 16,641 - 5,936 22,577 35,730 |
| Other events | 27,775 88,644 15,342 131,761 49,099 |
| 82,760 471,044 33,639 587,443 154,793 |
£167,880 (2021 - £162,177) of the above expenditure was attributable to unrestricted funds and £297,646 (2021 - £425,266) to restricted funds.
In addition to the expenditure analysed in Note 5a, there are also governance costs of £12,942 (2021 - £9,529) which relate directly to charitable activities. See note 6 for further details.
Page 16
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
6a Analysis of governance and support costs
Support costs allocated to raising funds
| Basis of | Basis of | Premises costs | Premises costs |
|---|---|---|---|
| including Other support Total Total |
|||
| depreciation costs 2022 2021 |
|||
| allocation | £ £ £ £ |
||
| Costs of generating | |||
| donations and legacies Staff time |
1,816 2,019 3,835 4,384 |
||
| Investment management | |||
| costs Direct |
- 3,088 3,088 3,949 |
||
| 1,816 5,107 6,923 8,333 |
|||
| Support costs allocated to charitable activities | |||
| Premises costs |
|||
| Governance Administration including Other support Total Total |
|||
| costs costs depreciation costs 2022 2021 |
|||
| £ £ £ £ £ £ |
|||
| Legal & | |||
| professional | 9,380 - - - 9,380 6,739 |
||
| Travel & | |||
| subsistence | 1,062 - - - 1,062 290 |
||
| Premises | - - 7,261 5,263 12,524 11,377 |
||
| Staff costs | 2,500 10,897 - - 13,397 15,236 |
||
| 12,942 10,897 7,261 5,263 36,363 33,642 |
|||
| Support costs are allocated on the following basis: - Legal & professional fees on a direct basis; - Travel & subsistence based on usage; - Premises and staff costs based on staff time. Governance Costs |
|||
| Unrestricted funds Total 2022 Total 2021 |
|||
| £ £ £ |
|||
| Staff costs | |||
| Wages and salaries | 2,500 2,500 2,500 |
||
| Independent Examiner’s remuneration | 945 945 945 |
||
| Bookkeeping and accountancy fees | 4,990 4,990 4,081 |
||
| Payroll fees | 492 492 857 |
||
| Legal fees | 2,953 2,953 856 |
||
| Othergovernance costs | 1,062 290 290 |
||
| 12,942 12,942 9,529 |
Page 17
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
6b Analysis of governance costs – previous year
Governance Costs
| Governance Costs | |
|---|---|
| Unrestricted funds Total 2021 Total 2020 |
|
| £ £ £ |
|
| Staff costs | |
| Wages and salaries | 2,500 2,500 2,500 |
| Independent Examiner’s remuneration | 945 945 900 |
| Other accountancy fees | 4,938 4,938 4,317 |
| Legal fees | 856 856 676 |
| Othergovernance costs | 290 290 308 |
| 9,529 9,529 8,701 |
7 Grant-making
Analysis of grants
| Analysis of grants | |
|---|---|
| Grants to Grants to |
|
| institutions individuals |
|
| 2022 2022 |
|
| £ £ |
|
| Analysis | |
| Grants paid | 281,612 35,743 |
The support costs associated with grant-making are £nil (31 October 2021 - £nil).
Significant grants to institutions include £230,800 to Koalaa Limited in respect of the MITT appeal, £15,000 to Kartforce, £5,000 to Arctic One, £6,000 to Reach and £5,000 to Limbpower.
8 Net income
Net income for the year is stated after charging:
| Net income for the year is stated after charging: | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Independent examiner fees | 945 | 945 | ||
| Depreciation of fixed assets | 1,198 | 705 | ||
Page 18
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
9 Trustees remuneration and expenses
During the year the Charity made the following transactions with trustees for reimbursement of travel and subsistence costs:
S K Riddick
£nil (2021: £nil) of expenses were reimbursed to S K Riddick during the year.
G Jackson
£nil (2021: £nil) of expenses were reimbursed to G Jackson during the year.
R Pascall
£nil (2021: £nil) of expenses were reimbursed to R Pascall during the year.
G J P Cadbury
£nil (2021: £nil) of expenses were reimbursed to G J P Cadbury during the year.
No trustees, nor any persons connected with them, have received any remuneration or other benefits from the charity during the current or previous year.
10 Staff costs
The aggregate payroll costs were as follows:
| 2022 2021 |
|
|---|---|
| £ £ |
|
| Staff costs during the year were: | |
| Wages and salaries | 98,358 94,304 |
The above figures include employer's national insurance contributions of £4,691 (2021 - £4,713).
The monthly average head count number of persons (including senior management team) employed by the Charity during the year was as follows:
| 2022 2021 |
|
|---|---|
| No No |
|
| Staff numbers | 3 3 |
No employee received emoluments of more than £60,000 during the current or previous year.
The chief executive officer, who is considered to be the charity's key management personnel, received employee remuneration and benefits totalling £40,000 (2021 - £40,816).
Page 19
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
11 Tangible fixed assets
| Furniture and | Furniture and | ||
|---|---|---|---|
| equipment Total |
|||
£ £ |
|||
| Cost | |||
| At 1 November 2021 | 11,289 11,289 |
||
| Additions | 2,399 2,399 |
||
| Disposals | (8,893) (8,893) |
||
| At 31 October 2022 | |||
| 4,795 4,795 |
|||
| Depreciation | |||
| At 1 November 2021 | 10,683 10,683 |
||
| Charge for the year | 1,198 1,198 |
||
| Depreciation on disposals | (8,887) (8,887) |
||
| At 31 October 2022 | |||
| 2,994 2,994 |
|||
| Net book value | |||
| At 31 October 2022 | |||
| 1,801 1,801 |
|||
| At 31 October 2021 | |||
| 606 606 |
|||
| 12a Fixed asset investments |
|||
| 2022 | |||
| £ | |||
| Other investments | 367,215 | ||
| Other investments | |||
| Listed | |||
| investments | Cash portfolio Total |
||
| £ | £ £ |
||
| Cost or Valuation | |||
| At 1 November 2021 | 501,617 21,265 522,882 |
||
| Revaluation loss | (166,377) - (166,377) |
||
| Gain realised in the year | 151,298 - 151,298 |
||
| Listed investment additions | 179,444 (179,444) - |
||
| Sale proceeds | - 304,442 304,442 |
||
| Transfers | - (137,500) (137,500) |
||
| Investment income | - - - |
||
| Management fees | - (3,088) (3,088) |
||
| Disposals | (304,442) - (304,442) |
||
| At 31 October 2022 | |||
| 361,540 5,675 367,215 |
|||
| Net book value | |||
| At 31 October 2022 | |||
| 361,540 5,675 367,215 |
|||
| At 31 October 2021 | |||
| 501,617 21,265 522,882 |
Page 20
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
Investments comprising more than 5% of the total holding are listed below.
| Investments comprising more than 5% of the total holding are listed below. | ||
|---|---|---|
| Market Value | % | |
| VT AJ Bell Balanced Income account | 73,487 | 20.00 |
| Vanguard Investment UK LT life strategy | 135,636 | 36.90 |
| LF Ruffer – Managed Funds | 152,417 | 41.50 |
The historic cost of the listed investments is £479,461 (2021 - £499,950).
12b Other investments
An original painting has been donated to the charity with the possibility that income can be generated either through its eventual sale or by use of its image for commercial purposes. The Trustees consider that it is currently impractical to measure the fair value of the painting and the costs of a formal valuation outweigh the benefits. Until there is greater certainty surrounding its potential use, the painting is held as an investment with £Nil value.
13 Debtors
| 13 Debtors |
|
|---|---|
| 2022 2021 |
|
| £ £ |
|
| Prepayments | 1,643 3,644 |
| Other debtors | 6,975 2,640 |
| 8,618 6,284 |
|
| 14 Creditors: amounts falling due within one year |
|
| 2022 2021 |
|
| £ £ |
|
| Other taxation and social security | 2,319 2,472 |
| Hire purchase | 666 - |
| Accruals | 14,043 5,043 |
| 17,028 7,515 |
15 Creditors: Amounts falling due after more than one year
| 15 Creditors: Amounts falling due after more than one year |
|
|---|---|
| 2022 2021 |
|
| £ £ |
|
| Hire purchase | 1,222 - |
Page 21
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
16 Charity status
The Charity is a Charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation.
17a Analysis of movement in funds
| Other | |||||
|---|---|---|---|---|---|
| Balance at 1 | recognised | ||||
| November | gains & | Balance at 31 | |||
| 2021 | Income | Expenditure | transfers | October 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| Unrestricted general funds | 545,105 | 142,203 | (281,565) | (15,079) | 390,664 |
| Restricted funds | 145,524 | 211,331 | (345,736) | - | 11,119 |
| Total funds | 690,629 | 353,534 | (627,301) | (15,079) | 401,783 |
17b Analysis of movement in funds – previous year
| Other | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | recognised | |||||
| November | gains & | Balance at 31 | ||||
| 2020 | Income | Expenditure | transfers | October 2021 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| Unrestricted general funds | 559,481 | 94,362 | (189,894) | 81,156 | 545,105 | |
| Restricted funds | 5,700 | 708,731 | (568,907) | - | 145,524 | |
| Total funds | 565,181 | 803,093 | (758,801) | 81,156 | 690,629 |
General funds represent funds of the charity which are not designated for particular purposes.
Restricted funds represent monies raised to support the Bader Braves, Bader Bus Company and Bader Big Band events and the MITT project.
Transfers have been made where necessary from unrestricted to restricted funds as authorised by the Trustees in order to support expenditure on the above projects.
Page 22
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
18a Analysis of net assets between funds
| 18a Analysis of net assets between funds |
|
|---|---|
| Unrestricted | |
| funds Restricted funds Total funds |
|
| £ £ £ |
|
| Tangible fixed assets | 1,801 - 1,801 |
| Fixed asset investments | 367,215 - 367,215 |
| Current assets | 38,986 12,031 51,017 |
| Liabilities | (17,338) (912) (18,250) |
| Total net assets | |
| 390,664 11,119 401,783 |
18b Analysis of net assets between funds – previous year
| 18b Analysis of net assets between funds – previous |
year |
|---|---|
| Unrestricted | |
| funds Restricted funds Total funds |
|
| £ £ £ |
|
| Tangible fixed assets | 606 - 606 |
| Fixed asset investments | 522,882 - 522,882 |
| Current assets | 28,031 146,625 174,656 |
| Liabilities | (6,414) (1,101) (7,515) |
| Total net assets | |
| 545,105 145,524 690,629 |
19 Financial instruments
Categorisation of financial instruments
| Categorisation of financial instruments | |
|---|---|
| 2022 2021 |
|
| £ £ |
|
| Financial assets measured at fair value | 367,215 522,882 |
| Financial assets measured at settlement value | 51,017 174,656 |
| 418,232 697,538 |
|
| Financial liabilities measured at settlement value | 14,043 5,043 |
Financial assets measured at settlement value comprise cash and other debtors.
Financial assets measured at fair value comprise assets held as investments.
Financial liabilities measured at settlement value comprise accruals.
Page 23
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2022
20 Related party transactions
During the year the Charity made the following related party transactions:
C Bickers
(Son of D Bickers, Chief Executive Officer)
The charity has entered into a contract for services with C Bickers. Payments of £30,000 (2021 - £24,500) were made during the year. At the balance sheet date the amount due to/from C Bickers was £Nil (2021 - £Nil).
Page 24