## THE BLAIR FOUNDATION Unaudited Annual report and accounts For the year ended 5 April 2023 Registered Charity No 801755 Page 1 ## The Blair Foundation ## Contents ______________________________________________________________________________________ |||Page| |---|---|---| |Legal|and administrative information|2| |Report of the Trustees’||3-5| |Report of the Independent Examiner||6| |Receipts and payments account||7| |Statement of assets and liabilities||8| |Notes:||| |1.|Accounting policies|9| |2.|Taxation|9| |3.|Investment income|9| |4.|Grants paid|10-11| |5.|Other expenditure|11| |6.|Administrative expenses|11| |7.|Employee information|11| |8.|Transactions with Trustees|11| |9.|Tangible Fixed Assets|12| |10.|Fixed Asset Investments|12-13| Page 2 ## The Blair Foundation ## Legal and administrative information ______________________________________________________________________________________ Name and Registered The charity is registered as “The Blair Foundation” and its registered number Number of Charity is 801755. Administration and The Trust Deed states that there must be at least three Trustees. The power Management of to appoint Trustees vested in the Settlor (Robert Campbell Thornton) during Charity his lifetime. Following the death of the settlor, the power to appoint new trustees vests in the current trustees. Governing Document The Trust was created by Deed on 29 March 1989. It is an unincorporated association, registered as a UK charity. Names of Trustees Jennifer Mary Thornton Alan Thomas Thornton Fiona Peta Thornton (Appointed 25 July 2018) Principal Address The Barn Quarrs Farm Dudwell Lane Chewton Mendip Somerset BA3 4ND Solicitors Chubb Bulleid 7 Market Place Wells Somerset BA5 2RJ Accountants Evelyn Partners LLP Onslow House Onslow Street Guildford Surrey GU1 4TL Bankers Lloyds Bank PLC P O Box 1000 BX1 1LT Investment Advisors Evelyn Partners Investment Management Limited 45 Gresham Street London EC2V 7BG Independent Examiner Susan Kumar ACA Holden Granat LLP Springfield House, 23 Oatlands Drive Weybridge Surrey KT13 9LZ Page 3 ## The Blair Foundation ## Trustees’ report ______________________________________________________________________________________ The Trustees present their report and accounts for the year ended 5 April 2023. The accounts have been prepared in accordance with the Deed of Trust and the recommendations of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## Powers of Trustees The Trustees have power to apply income as it arises, as well as the whole or part of the capital of the Trust Fund, for such charitable purposes as the Trustees shall think fit. The Trustees have power to accumulate income throughout the accumulation period (twenty one years from the date of the original deed). Any accumulations shall be held as an accretion to the capital of the Trust Fund and be subsequently distributed as if it were income arising in the current year of distribution. The Trustees have the power to invest in the purchase or other acquisition or improvement of any property as if they were absolutely entitled to the Trust Fund beneficially. The Trustees have the powers to employ agents to transact any business on their behalf, provided that the Trustees exercise reasonable supervision of any person or corporation employed by them, and that all actions exercised by advisors on behalf of the Trustees are reported to them as soon as possible. ## Objects The objects of the Charity are for the Trustees to apply the income and capital of the trust for such charitable purposes as they shall see fit. ## Governance The Charity was established by Charitable Trust Deed dated 29 March 1989. The deed requires that there must be at least three serving Trustees. The statutory power to appoint new Trustees vested in the Settlor, Robert Thornton, during his lifetime. Following the death of the Settlor, the power to appoint new trustees vests in the continuing Trustees. ## How the Charity operates The Trustees currently meet at least once a year to review the activities of the Trust, and to review and approve donations to charitable bodies. A receipt for all donations made is requested from donees and held by the Trustees. Donations are funded from cash held with Smith & Williamson Investment Management. The accounting records are maintained by Philippa Jill Thornton. ## Activities In the past year the Blair Foundation spent £105,200 on 50 charities and community projects - an increase of 10% on largely the same organisations as the previous year. Fifteen charities accounted for just over half this amount receiving sums between £3,000 and £7,000 including the QEF, HFT, Sense, Ayrshire Fiddlers and Handicapped Children’s Action Group. We once again sponsored the QEF’s popular Ladies Autumn lunch with guest speaker Shirley Ballas from Strictly Come Dancing - an event which raised £46,000 for the charity. A few new charities were supported such as Bowel Cancer UK, Cerebral Palsy Plus and Wells City Football Club. The organisations we help are wide ranging and varied and we try to ensure some kind of connection with each and every one. Being in regular contact with these organisations and receiving their feedback is very important as the following excerpts from a thank you letter from Project Factory CIC illustrate: Page 4 ## The Blair Foundation ## Trustees’ report (cont….) ## ______________________________________________________________________________________ ‘The educational benefits of your donation have clearly been huge.....the lectures are very popular and well attended and the free tickets for students have given many 18 year olds and under access to a wealth of lectures by renowned speakers and have undoubtedly widened the education of the students beyond the classroom. There have been many tours and workshops for over 600 children and an additional 540 children benefited from the Gormley Schools Project (inspired by the work of sculptor Anthony Gormley). We hope you feel that your donation has been value for money and that you are pleased with the wide and meaningful impact that your generous donation (£5,000) has made to our local community over the past two years. With many thanks to the kindness and generosity of the Blair Foundation for making all of the above possible. Jessie May, a charity which received £3,000, wrote to thank us for providing ‘50 hours of smiles, comfort, expertise and encouragement for children with terminal conditions and their families.’ Tall Ships Youth Trust which was also awarded £3,000 said in their thank you letter ‘Your support is hugely appreciated and will enable us to offer life changing voyages to more disadvantaged young people from Southern England. We are so grateful - without your grant these young people simply would not be given the opportunity.’ Flamingo Chicks wrote to say that with the Blair Foundation’s help they had 7,371 children take part in their dancing sessions (+32%), held 237 workshops (+74%) and 84 regular classes (+52%) and went into 32 new settings, including every children’s hospice in the UK. Since the charity started in 2013, over 24,000 children have danced with them. It is heartwarming to read messages like this and the stories they tell are the same across all the different charities we support be they concerned with wildlife and conservation, disadvantaged or disabled young people, mental health or the terminally ill. The Blair Foundation offers opportunities for people to widen their horizons, expand their potential, protect and enjoy the space around them and lead fuller lives. ## Investments The trust investments are all in UK Listed Securities on which the Trustees have taken the advice of their Investment Managers with the exception of the Investment with Halifax Financial Services. The Trustees instructions to the Investment Managers are to maximise the Fund’s income, subject to at least preserving the real value of its capital, and therefore to adopt a medium to low risk investment strategy. The Trustees are satisfied with the portfolio’s overall performance. Investment policies and performances are reviewed at meetings by the Trustees. ## Reserves policy It is the intention of the Trustees to maintain the capital of the trust so as to provide a continuing, and hopefully increasing, stream of income. The Trustees consider the charity’s finances are in a strong position and enable the future to be faced with confidence. The charity has free reserves of £18,832 (2022: free reserves of £37,788). The Expendable Endowment Fund can be transferred to the Unrestricted Fund at the Trustees Discretion. ## Risk management The Trustees consider that they hold adequate funds to meet current liabilities. They have reviewed their procedures for the assessment of management risk and consider that they have proper procedures in place. irF Page5 Trust￿, report IconLJ PL￿$ ftr future The Trustees Inlend to continue WOVKling grants n a gmiidr nwirw tothat fe4iowed in recent year& The Trustees have congdered the iwl of covkY-19 on the aCti￿7lY of the Trusl and have concluded that the Trust ¥MiL be able to ci>ntinue to operate as planned for the foreseeable future. 11 is likely that ihe impact of the parKlern￿ wll irKrease the needs ol s(xr* ehaiities and this may iesuit In Increased grant em￿diture in IF* future. PuEAi¢ Benèfft The principles of pUt￿C knefft. as dpfir*d ty t1￿ Chwity Corrmlssicm. have been noted by Trustees The Trustees confirm. hamng given regard to the Chanty Commisson's guidance and slate Ihw'r be￿e1that the Fund prov1de5identsf￿bie t￿errtS lo a section ofthè publ￿. TheTruslees reC￿ve correspond?￿e from those in recwpt ofsuFWtto confirm the Fthtlve inpact it makes on Ihwr circumstaKe Fin¥Kial Oonations and Investn￿l incom• genwated ￿￿orn1r￿j reso1￿ceS of É27.621 Q022' £22.a3). At S April 2023 Ihe ErKJornt Fund an￿￿nted to E459.976 Q022'. £459.9761 Unrestricled funds of £18.83212022.. lundsof f37.788) are available to furKI luture trust expenditureatxl dMatsons The reallsed and unreal￿dI055 w Ustgd investments dwing the yw was £127.82312022 gain £6.4431. As the gr05s Inc¢)m6 received in the year is more than £25.000. accounts will be required to be independently èxamin8d Ihis year. in atttydance wth the Charity Commission's accwntancy r8quirenEnt Trust￿$. resF*)nyblitigS The trustees are responsibtefcff keeping adequate rec(xds vthich arÈ suffiC￿t to showand explain Ihe charity's transactions and disclose wth reasonable accuracy al any tirne the financial posilion of the chartty and ￿able them lo ensure thai the fHwnckal stater￿ts ccmdy with the CharIt￿5 Act 2011. Ihe Charit* (Accounls and Repcrtsl Rggulatims 2008 and the prowgons of the trust deed. They arealso responstr￿e10l safeguarding the assets ofthe tharilyand h￿ce for taking ieasonalae steps for the prevention and detectK)n of Iraud ar¥J other irreguiarilies Approved by the Board of Trusiee5 and signed on its behalf by Jeni Thornt￿. TNstee. Page 6 ## The Blair Foundation ## Independent Examiner’s Report to the Trustees ______________________________________________________________________________________ I report on the accounts of the Blair Foundation for the year ended 5 April 2023 which comprise the Receipts and Payments Account, the Balance Sheet and the related notes 1 to 10. Responsibilities and basis of report As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. Susan Kumar ACA Holden Grant LLP Springfield House, 23 Oatlands Drive, Weybridge, Surrey KT1 9LZ Date: 30 January 2024 Page 7 ## The Blair Foundation ## Receipts and payments account for the year ended 5 April 2023 ______________________________________________________________________________________ |Unrestricted Endowment
Funds
Fund
Note
£
£
Receipts
Investment income
3
27,621
-
Investment transactions
10
336,741
-


Total Receipts
364,362
-


Payments
Grants paid
4
105,200
-
Other expenditure
5
7,100
-
Management charges
6
14,729
-
Investment transactions
10
256,289
-

383,318
-


Net (Payments) / Receipts for the year
(18,956)
-
Bank account balances at 5 April 2022
37,788
-


Bank account balances at 5 April 2023
18,832
-

|Total
2023
£
27,621
336,741
364,362

105,200
7,100
14,729
256,289
383,318
(18,956)
37,788
18,832|Total
2022
£
22,213
110,596
132,809
88,550
-
7,407
13,219
109,176
23,633
14,155
37,788| |---|---|---| P*¥Je 8 The BLair Foundation statement of assets and liabilities for thè year ended 5 April 2023 FurKt5 2023 2022 Tangible fixed assèts UK Ouoted Investments 7.500 7.500 10 487.686 459.976 947.662 L155.937 495.186 459.978 955.162 L163.437 Cash and bank balancès Evelyn Partners- InvÈ5trnent Aectsjnt Ev8iyn Partners- OivKlend Account LLoyds Bar* 1.875 1.87S 7.482 9.476 619? 1.205 30,391 9.476 18.833 37.788 LkblUt5os Granls agreed but not yet pa Independent EXanNna1￿n F Accountancy 1.260 1.260 6280 8.016 oved by the rd of TNstees on 30 and stgned on its behalf by Jeni Th(NntL¥I. TrLbStee TLITW l( The r￿leS on F)agÈs 9 to 13 form part cl theseaccounts Page 9 ## The Blair Foundation ## Notes to the accounts for the year ended 5 April 2023 ______________________________________________________________________________________ ## 1. ACCOUNTING POLICIES ## a) Accounting Conventions The accounts have been prepared on a receipts and payments basis and in accordance with applicable accounting standards and Charities Act 2011. ## b) Investment Income Income is brought to credit on a cash received basis. ## c) Investments Investments are valued at a mid-market value at 5 April 2023. ## d) Income All income from donations and gifts are included in income upon receipt. Any associated income tax recovery is recognised as income when received. - e) Grants Paid Full details of grants paid to institutions of more than £500 are included in Note 4 of the accounts. ## 2. TAXATION As a charity, the Trust is exempt from tax on income and gains falling within section 524 to 536 Income Taxes Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. ## 3. INVESTMENT INCOME |Investment Income received from:
Dividend Income
Interest Income|2023
£
17,964
9,657
27,621|2022
£
15,376
6,837
22,213| |---|---|---| Page 10 ## The Blair Foundation ## Notes to the accounts for the year ended 5 April 2023 (cont….) ______________________________________________________________________________________ |4.|GRANTS PAID|2023|2022| |---|---|---|---| |||£|£| ||Age UK|1,000|500| ||Almshouses|-|-| ||Ayrshire Fiddle Orchestra|6,000|6,000| ||Barn Owl Trust (The)|1,000|1,000| ||Beanstalk Literacy|-|500| ||Blesma|500|1,000| ||Bowel Cancer UK|1,000|-| ||Brainwave|1,000|1,000| ||Bristol Children’s Help Society|3,000|3,000| ||Bumblebee Conservation Trust|500|500| ||Butterfly Conservation|500|500| ||Calvert Trust|2,000|2,000| ||Cerebral Palsy pins|500|-| ||CHAS|2,000|2,000| ||Disabled Sailors Association|3,000|3,000| ||Eastside Community Trust|1,000|1,000| ||Edinburgh Children’s Hospital|1,000|1,000| ||Fareshare|1,000|750| ||Fight Against Blindness|500|500| ||Flamingo Chicks|2,000|1,000| ||Forest of Avon Trust|500|1,000| ||Handicapped Children’s Action Group|5,000|5,000| ||Haven Day|1,000|1,000| ||Heads Up|5,500|-| ||Home Farm Trust|5,000|5,000| ||Grief Encounter|2,000|-| ||Jamie’s Farm|3,000|3,000| ||Jessie May - Children’s Hospice at Home|3,000|3,000| ||Julia’s House|2,500|2,500| ||Lifecycle|1,000|500| ||Life Education, Bristol|500|500| ||Marine Conservation Society|1,000|1,000| ||MNDA|1,000|1,000| ||Music Space|1,500|1,500| ||Orchard Vale Trust|2,000|-| ||Penny Brohn Cancer Care|3,000|3,000| ||Prickles Hedgehog Rescue|500|500| ||Project Factory|-|5,000| ||Project Seagrass|750|-| ||QEF|14,000|-| ||Scottish Mountain Rescue|500|500| ||Seafarers|1,000|1,000| ||Second Chance|3,000|3,000| ||SENSE|5,000|5,000| ||Soil Association|1,000|1,000| ||Somerset Wildlife Trust|1,500|1,500| Page 11 ## The Blair Foundation ## Notes to the accounts for the year ended 5 April 2023 (cont….) ______________________________________________________________________________________ |2023
£
St Margaret’s Hospice
2,000
St Peter’s Hospice
1,000
Starlight Children’s Foundation
2,000
Tall Ships Youth Trust
3,000
Teenage Cancer Trust
3,000
Wells Community Network
-
Wells City Football Club
950
Wells Skate Park Community Group
-
West Country Rivers Trust
1,000
Charitable donations of less than £500
-
105,200
5.
OTHER EXPENDITURE
2023
£
Legal fee
-
Secretarial services
7,000
Postage
100
7,100
6.
ADMINISTRATIVE EXPENDITURE
£
Investment management fees
6,113
Accountancy and administration
8,616
14,729
7.
EMPLOYEE INFORMATION
The average number of full time employees
Nil
The average number of part time employees
Nil|2022
£
2,000
1,000
2,000
3,000
3,000
1,000
-
5,000
500
300| |---|---| ||88,550
2022
£
-
-
-
-
£
7,407
-
7,407
Nil
Nil| ||| 8. TRANSACTIONS WITH TRUSTEES & RELATED PARTY TRANSACTIONS None of the Trustees were paid any remuneration or expenses by the charity during the year (2022: nil). P J Thornton, who is related to the Trustees, was paid £7,000 for secretarial services in the year (2022: nil). Page 12 ## The Blair Foundation ## Notes to the accounts for the year ended 5 April 2023 (cont….) ______________________________________________________________________________________ ## 9. TANGIBLE FIXED ASSETS |Cost
At 6 April 2022
At 5 April 2023
Accumulated depreciation
At 6 April 2022
At 5 April 2023
Net book values
At 5 April 2023|2023
2023
2022
Historical
Total
Desk Seal
Total
£
£
£
7,500
7,500
7,500
7,500
7,500
7,500
-
-
-
-
-
-
7,500
7,500
7,500| |---|---| Note - The Historical desk seal is on loan to The Royal Naval Museum. ## 10. FIXED ASSET INVESTMENTS |Investments
Market value 6 April 2022
Additions
Disposals
Net investment gain/(loss)
Mid market value at 5 April 2023
Market value of UK Fixed Interest Accounts
Market value of Listed UK Securities
Market value of Unlisted UK Securities|Total
Total
2023
2022
£
£
1,155,937
1,246,871
256,289
13,219
(336,741)
(110,596)
(127,823)
6,443
947,662
1,155,937
-
-
742,792
920,324
204,870
235,613
947,662
1,155,937| |---|---| Page 13 ## The Blair Foundation ## Notes to the accounts for the year ended 5 April 2023 (cont….) ______________________________________________________________________________________ ## 10. FIXED ASSET INVESTMENTS - continued Investments in individual entities held at 5 April 2023 which are over 5% of the portfolio of Listed UK Securities by value are: |||Market| |---|---|---| |Nominal||Value| |||£| |41,000|Sanlam International|41,574| |200|CG Portfolio Fund plc|40,294| |185|Edgewood L Select US Growth|48,238| |1,475|I Shares Core S&P 500 UCITS|48,103| The Unlisted Investment is invested in 250,657 Halifax UK Investment Funds Corporate Bond Fund Income Shares - Retail Class C shares. The investment had a market value of £204,870 at 5 April 2023 (£235,613 at 5 April 2022).