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 2023
The Douglas Bader Foundation
Contents
| 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 | 9-10 |
| Statement of Cash Flows | 11 |
| Notes to the Financial Statements | 12 to 25 |
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 2023.
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.
Page 1
The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
Achievements, performance and plans for future periods
Following the death of Group Captain Sir Douglas Bader in September 1982, The Douglas Bader Foundation was created and registered with the Charity Commission, by family and friends – several of whom had flown side by side with him during World War 2. Our registered purpose being.
“To advance and promote the physical, mental, and spiritual welfare of persons who are born without or have lost one or more limbs, are otherwise physically disabled or who suffer from a diagnosed mental illness.”
With many years of regular support and the continuous generosity of so many Charities, Trusts and Individuals for so many years, this has enabled us to deliver significant goals during this 40[th] Anniversary year.
DBF Grants are a great backbone of DBF. We continue to support and enable other charities, such as Limb Power Games, Arctic One Triathlons and SAILABILITY , to create events that met our criteria, at various locations throughout the UK.
OVER THE WALL Health Challenge and Siblings Camps. There are also a few organisers at Flying Clubs who have expressed a desire to continue and manage a fly.
The Foundation is supporting a couple of flying related projects that have been brought to its attention including a project, WINGS FOR WARRIORS, that leads appropriate applicants to a potential professional flying career within a commercial airline, to a cockpit spitfire simulator with DBs Markings to tours of Air Shows and Museums.
Bader’s Big Band will be appearing again at Duxford Air Show. They are also adding a smaller version, called The Spitfires, who are available for smaller venues.
The Koalaa Mitt appeal has continued its success, aiming to supply and fit free lower arm prosthetics to over 500 children in the UK.
CEO AND CO-FOUNDER David Bickers was honoured to receive notification and confirmation of being put forward for an MBE award in recognition for his work for Charity.
Page 2
The Douglas Bader Foundation
Trustees' Report (including Directors' Report)
Financial review
The charity's total funds in the year ended 31 October 2023 decreased by £87,171 (2022 - decrease of £288,846).
Going concern
During the course of this Financial Year and following a number of Management and Trustees Meetings, it is the opinion of the Trustees and Management Team that due to the length of service of the trustees and their advancing years that the Foundation move to closure at the end of next fiscal year 31[st] October 2024. The decision follows the proposed retirement of all staff members at 31 October 2024, the reluctance of the trustees to recruit new staff and the view that the charity has substantially achieved its intended objectives.
With this decision in mind, there will be a gradual winding down of fundraising activities and a focus on grant giving. Any funds remaining at closure will be donated to other charities with whom the Foundation has worked over the years.
The Trustees have requested that CEO David Bickers meet with our lawyers to understand the process of closure and to advise.
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, 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 2023 were £314,612 (2022 – £401,783) of which £272,165 (2022 - £390,664) represented unrestricted funds and £42,447 (2022 - £11,119) represented restricted funds.
Investment policy and objectives
The investments with Mulberry Bow LLP comprised a discretionary portfolio managed by AJ Bell made up of three funds. Following the decision to wind up the charity, Mulberry Bow LLP has been instructed to liquidate 25% tranches of the portfolio each quarter with a view to holding cash balances only by 31 October 2024.
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.
Page 3
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.
Page 4
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 30 May 2024 and signed on its behalf by:
GJP Cadbury Trustee
Page 5
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 30 May 2024 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 2023 which are set out on pages 8 to 25.
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 The Counting House High Street Tring HP23 5TE
Date: 25 July 2024
Page 7
The Douglas Bader Foundation
Statement of Financial Activities for the Year Ended 31 October 2023 (Including Income and Expenditure Account)
| Note | Unrestricted funds £ Restricted funds £ Total 2023 £ Total 2022 £ |
|---|---|
| Income from: | |
| Donations and legacies 2 |
139,593 233,340 372,933 353,476 |
| Other income | 1,500 2,500 4,000 - |
| Investment income 3 |
208 - 208 58 |
| Total Income | 141,301 235,840 377,141 353,534 |
| Expenditure on: | |
| Raising funds 4 |
(78,919) (86,562) (165,481) (161,775) |
| Charitable activities 5 |
(177,917) (117,950) (295,867) (465,526) |
| Total Expenditure | (256,836) (204,512) (461,348) (627,301) |
| Net (expenditure)/income | (115,535) 31,328 (84,207) (273,767) |
| (Loss) on investment assets | (2,964) - (2,964) (15,079) |
| Net movement in funds | (118,499) 31,328 (87,171) (288,846) |
| Reconciliation of funds | |
| Total funds brought forward | 390,664 11,119 401,783 690,629 |
| Total funds carried forward 17 |
272,165 42,447 314,612 401,783 |
The notes on pages 12 to 25 form part of these financial statements
Page 8
The Douglas Bader Foundation
(Registration number: 02288815) Balance Sheet as at 31 October 2023
| Note | 2023 £ 2022 £ |
|---|---|
| Fixed assets | |
| Tangible assets 11 |
- 1,801 |
| Investments 12 |
- 367,215 |
| - 369,016 |
|
| Current assets | |
| Debtors 13 |
9,290 8,618 |
| Office equipment 11 |
2,284 - |
| Investments 12 |
281,940 - |
| Cash at bank and in hand | 54,177 42,399 |
| 347,691 51,017 |
|
| Creditors: Amounts falling due within one year 14 |
(32,524) (17,028) |
| Net current assets | 315,167 33,989 |
| Total assets less current liabilities | 315,167 403,005 |
| Creditors: Amounts falling due after more than one year 15 |
(555) (1,222) |
| Net assets | 314,612 401,783 |
| Funds of the Charity: | |
| Restricted income funds | 42,447 11,119 |
| Unrestricted income funds | |
| Unrestricted income funds | 272,165 390,664 |
| Total funds 17 |
314,612 401,783 |
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:
-
(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.
The notes on pages 12 to 25 form part of these financial statements
Page 9
The Douglas Bader Foundation
(Registration number: 02288815) Balance Sheet as at 31 October 2023
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 25 were approved by the trustees, and authorised for issue on 30 May 2024 and signed on their behalf by:
GJP Cadbury Trustee
The notes on pages 12 to 25 form part of these financial statements
Page 10
The Douglas Bader Foundation
Statement of Cash Flows for the Year Ended 31 October 2023
| Note | 2023 £ 2022 £ |
|---|---|
| Cash flows from operating activities | |
| Net cash income/(expenditure) | (87,171) (288,846) |
| Adjustments to cash flows from non-cash items | |
| Depreciation 4 |
961 1,198 |
| Investment income 3 |
(208) (58) |
| Loss on sale of tangible fixed assets | - 6 |
| Loss on revaluation of investments | 2,964 15,079 |
| (83,454) (272,621) |
|
| Working capital adjustments | |
| (Increase)/Decrease in debtors 13 |
(672) (2,334) |
| (Decrease)/Increase in creditors 14,15 |
14,829 10,735 |
| Net cash flows from operating activities | (69,297) (264,220) |
| Cash flows from investing activities | |
| Interest receivable and similar income 3 |
208 58 |
| Purchase of tangible assets 11 |
(1,444) (2,399) |
| Proceeds from sale of tangible assets | - - |
| Purchase of investments 12 |
(46,004) (179,444) |
| Proceeds from sale of investments 12 |
125,789 304,442 |
| Transfer to cash held for investment | 2,526 15,590 |
| Dividends from investments | - - |
| Net cash flows from investing activities | 81,075 138,247 |
| Net increase/(decrease) in cash and cash equivalents | 11,778 (125,973) |
| Cash and cash equivalents at 1 November 2022 | 42,399 168,372 |
| Cash and cash equivalents at 31 October 2023 | 54,177 42,399 |
The notes on pages 12 to 25 form part of these financial statements
Page 11
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
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
As explained in the trustees’ report, the trustees have reviewed the Foundation’s position and have agreed to cease operations from 31 October 2024. Consequently, the financial statements have been prepared on a basis other than going concern. As a result of this, assets are recorded at their recoverable amount and long term assets and liabilities have been reclassified as current.
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.
Page 12
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
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 2023
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:
| Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off residual value, over their expected useful economic life as follows: |
the cost or valuation, less any estimated |
|---|---|
| Asset class | Depreciation method and rate |
| Furniture and equipment | 25% straight line |
Current asset investments
Current 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 2023
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 funds £ Restricted funds £ Total 2023 £ Total 2022 £ |
|
|---|---|
| Donations and legacies; | |
| Donations | 128,319 233,340 361,659 353,476 |
| Legacy | - - - - |
| Royalties | 11,274 - 11,274 - |
| 139,593 233,340 372,933 353,476 |
Donations include £NIL (2022 - £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 2023
3 Investment income
| 3 Investment income |
|
|---|---|
| Unrestricted funds £ Total 2023 £ Total 2022 £ |
|
| Interest receivable and similar income; | |
| Interest receivable on bank deposits | 208 208 58 |
| 208 208 58 |
4a Expenditure on raising funds
Costs of generating donations and legacies
| Unrestricted funds £ Restricted funds £ Total 2023 £ Total 2022 £ |
|
|---|---|
| Marketing and publicity | 60,543 72,585 133,128 131,326 |
| Other direct costs of generating voluntary income |
18,376 13,977 32,353 30,449 |
| 78,919 86,562 165,481 161,775 |
- 4b Expenditure on raising funds – previous year
Costs of generating donations and legacies
| Unrestricted funds £ Restricted funds £ Total 2022 £ Total 2021 £ |
|
|---|---|
| Marketing and publicity | 92,075 39,251 131,326 125,759 |
| Other direct costs of generating voluntary income |
21,610 8,839 30,449 45,599 |
| 113,685 48,090 161,775 171,358 |
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The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
5a Expenditure on charitable activities
| 5a Expenditure on | charitable activities |
|---|---|
| Activity undertaken directly £ Grant funding of activity £ Activity support costs £ Total 2023 £ Total 2022 £ |
|
| Bader Braves | 15,534 2,250 4,782 22,566 35,717 |
| Bus Company/Big Band |
24,009 - - 24,009 30,696 |
| MITT appeal | 20,930 55,200 7,743 83,873 258,396 |
| Website & communication |
20,766 - 7,683 28,449 23,703 |
| Other events | 32,918 87,752 16,300 136,970 117,014 |
| 114,157 145,202 36,508 295,867 465,526 |
5b Expenditure on charitable activities – previous year
| 5b Expenditure on | charitable activities – previous year |
|---|---|
| Activity undertaken directly £ Grant funding of activity £ Activity support costs £ Total 2022 £ Total 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 |
£177,917 (2022 - £167,880) of the above expenditure was attributable to unrestricted funds and £117,950 (2022 - £297,646) to restricted funds.
Included in the expenditure analysed in Note 5a, there are also governance costs of £19,465 (2022 - £12,942) which relate directly to charitable activities. See note 6 for further details.
Page 17
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
6a Analysis of governance and support costs
Support costs allocated to raising funds
| Basis of allocation |
Premises costs including depreciation £ Other support costs £ Total 2023 £ Total 2022 £ |
|---|---|
| Costs of generating donations and legacies Staff time |
625 1,944 2,569 3,835 |
| Investment management costs Direct |
- 2,377 2,377 3,088 |
| 625 4,321 4,946 6,923 |
Support costs allocated to charitable activities
| Governance costs £ Administration costs £ Premises costs including depreciation £ Other support costs £ Total 2023 £ Total 2022 £ |
|
|---|---|
| Legal & professional |
13,357 - - - 13,357 9,380 |
| Travel & subsistence |
3,608 - - - 3,608 1,062 |
| Premises | - - 2,501 5,901 8,402 12,524 |
| Staff costs | 2,500 8,641 - - 11,141 13,397 |
| 19,465 8,641 2,501 5,901 36,508 36,363 |
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
| Governance Costs | |
|---|---|
| Unrestricted funds £ Total 2023 £ Total 2022 £ |
|
| Staff costs Wages and salaries |
2,500 2,500 2,500 |
| Independent Examiner’s remuneration | 945 945 945 |
| Bookkeeping and accountancy fees | 5,140 5,140 4,990 |
| Payroll fees | 479 479 492 |
| Legal fees | 6,793 6,793 2,953 |
| Other governance costs | 3,608 3,608 1,062 |
| 19,465 19,465 12,942 |
Page 18
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
6b Analysis of governance costs – previous year
Governance Costs
| 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 |
| Other governance costs | 1,062 1,062 290 |
| 12,942 12,942 9,529 |
7 Grant-making
Analysis of grants
| Analysis of grants | |
|---|---|
| Grants to institutions Grants to individuals |
|
| 2023 £ 2023 £ |
|
| Analysis | |
| Grants paid | 109,800 35,402 |
The support costs associated with grant-making are £nil (31 October 2022 - £nil).
Significant grants to institutions include £55,200 to Koalaa Limited in respect of the MITT appeal, £10,000 to Accessible Boating, £5,000 to Arctic One, £5,000 to Finding your Feet, £10,000 to Wings for Warriors, £5,000 to Over the Wall and £5,000 to Limbpower.
8 Net income
Net income for the year is stated after charging:
| 8 Net income Net income for the year is stated after charging: |
|
|---|---|
| 2023 £ 2022 £ |
|
| Independent examiner fees | 945 945 |
| Depreciation of fixed assets | 961 1,198 |
Page 19
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
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 (2022: £nil) of expenses were reimbursed to S K Riddick during the year.
G Jackson
£nil (2022: £nil) of expenses were reimbursed to G Jackson during the year.
R Pascall
£nil (2022: £nil) of expenses were reimbursed to R Pascall during the year.
G J P Cadbury
£nil (2022: £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:
| 2023 £ 2022 £ |
|
|---|---|
| Staff costs during the year were: | |
| Wages and salaries | 98,680 98,358 |
The above figures include employer's national insurance contributions of £4,264 (2022 - £4,691).
The monthly average head count number of persons (including senior management team) employed by the Charity during the year was as follows:
| 2023 No 2022 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 £39,750 (2022 - £40,000).
Page 20
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
| 11 Tangible assets | |||
|---|---|---|---|
| Furniture and equipment £ Total £ |
|||
| Cost | |||
| At 1 November 2022 | 4,795 4,795 |
||
| Additions | 1,444 1,444 |
||
| Disposals | - - |
||
| At 31 October 2023 | 6,239 6,239 |
||
| Depreciation | |||
| At 1 November 2022 | 2,994 2,994 |
||
| Charge for the year | 961 961 |
||
| Depreciation on disposals | - - |
||
| At 31 October 2023 | 3,955 3,955 |
||
| Net book value | |||
| At 31 October 2023 | 2,284 2,284 |
||
| At 31 October 2022 | 1,801 1,801 |
||
| 12a Current asset investments | |||
| 2023 £ |
|||
| Other investments | 281,940 | ||
| Other investments | |||
| Listed investments £ |
Cash portfolio £ Total £ |
||
| Cost or Valuation | |||
| At 1 November 2022 | 361,540 5,675 367,215 |
||
| Revaluation loss | (3,594) - (3,594) |
||
| Gain realised in the year | 629 - 629 |
||
| Listed investment additions | 46,004 (46,004) - |
||
| Sale proceeds | - 125,789 125,789 |
||
| Transfers | - (80,000) (80,000) |
||
| Investment income | - 66 66 |
||
| Management fees | - (2,377) (2,377) |
||
| Disposals | (125,788) - (125,788) |
||
| At 31 October 2023 | 278,791 3,149 281,940 |
||
| Net book value | |||
| At 31 October 2023 | 278,791 3,149 281,940 |
||
| At 31 October 2022 | 361,540 5,675 367,215 |
Page 21
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
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 | % | |
| Goldman Sachs FDS | 46,000 | 16.50 |
| Vanguard Investment UK LT life strategy | 138,310 | 49.61 |
| LF Ruffer – Managed Funds | 94,480 | 33.89 |
The historic cost of the listed investments is £302,985 (2022 - £479,461).
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 | |
|---|---|
| 2023 £ 2022 £ |
|
| Prepayments | 1,905 1,643 |
| Other debtors | 7,385 6,975 |
| 9,290 8,618 |
|
| 14 Creditors: amounts falling due within one year | |
| 2023 £ 2022 £ |
|
| Other taxation and social security | 4,398 2,319 |
| Hire purchase | 666 666 |
| Accruals for grants payable | 9,250 - |
| Accruals and deferred income | 18,210 14,043 |
| 32,524 17,028 |
|
| 15 Creditors: Amounts falling due after more than one year | |
| 2023 £ 2022 £ |
|
| Hire purchase | 555 1,222 |
Page 22
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
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
| Balance at 1 November 2022 £ Income £ Expenditure £ Other recognised gains & transfers £ Balance at 31 October 2023 £ |
|
|---|---|
| Unrestricted funds | |
| Unrestricted general funds | 390,664 141,301 (256,836) (2,964) 272,165 |
| Restricted funds | 11,119 235,840 (204,512) - 42,447 |
| Total funds | 401,783 377,141 (461,348) (2,964) 314,612 |
17b Analysis of movement in funds – previous year
| Balance at 1 November 2021 £ Income £ Expenditure £ Other recognised gains & transfers £ Balance at 31 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 |
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 23
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
18a Analysis of net assets between funds
| 18a Analysis of net assets between funds | |
|---|---|
| Unrestricted funds £ Restricted funds £ Total funds £ |
|
| Tangible fixed assets | 2,284 - 2,284 |
| Fixed asset investments | 281,940 - 281,940 |
| Current assets | 9,324 54,143 63,467 |
| Liabilities | (21,383) (11,696) (33,079) |
| Total net assets | 272,165 42,447 314,612 |
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 | 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 |
19 Financial instruments
Categorisation of financial instruments
| Categorisation of financial instruments | |
|---|---|
| 2023 £ 2022 £ |
|
| Financial assets measured at fair value | 281,940 367,215 |
| Financial assets measured at settlement value | 63,467 51,017 |
| 345,407 418,232 |
|
| Financial liabilities measured at settlement value | 27,460 14,043 |
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 24
The Douglas Bader Foundation
Notes to the Financial Statements for the Year Ended 31 October 2023
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 £26,600 (2022 - £30,000) were made during the year. At the balance sheet date the amount due to/from C Bickers was £Nil (2022 - £Nil).
Page 25