Egerton-Peters Foundation - Charities report - 22.1

REGISTERED COMPANY NUMBER: 13003248 (England and Wales)

REGISTERED CHARITY NUMBER: 000000

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

6 NOVEMBER 2020 TO 30 NOVEMBER 2021

FOR

EGERTON-PETERS FOUNDATION

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Notes to the Financial Statements

7

to

8

1. This Trustees' Report has been produced by the trustees (the "Trustees") of the Egerton-Peters Foundation (the "Foundation") in respect of the period commencing on incorporation of the Foundation, 6 November 2020, until 30 November 2021 (the "Reporting Period").

INCORPORATION

The charitable company was incorporated on 6 November 2020 .

OBJECTIVES AND ACTIVITIES

Objectives and aims

2. The objectives of the Egerton-Peters Foundation (the "Foundation") may broadly be divided into two. First, to promote the arts for the public benefit by, in summary:

a. exhibiting, displaying, hosting, providing grants or support to promote the arts and encourage high standards in the arts, in particular but not exclusively, including the arts of writing, poetry, dance, theatre, music, painting and drawing, fashion, floristry and horticulture (the "Arts");

b. providing assistance to students of the Arts who, in the opinion of the Trustees have made or might make a significant contribution to the Arts but who are in need of financial or other assistance; and

c. providing support in arranging and holding exhibitions or other events in order to display the works of the beneficiaries of the Foundation.

3. Secondly, to provide assistance to the homeless and assist with the alleviation of homelessness.

4. The objectives noted in paragraphs 2 and 3 above are hereinafter referred to collectively as the "Objectives".

5. Full details of the Objectives are set out in paragraph 1.1 of the Foundation's Articles of Association.

6. During the Reporting Period no activities in furtherance of the Objectives have been undertaken. Following incorporation of the Foundation there followed a process of careful consideration as to how the Objectives would be pursued. So as to allow for this process, and coupled with the effects of COVID-19 related lockdowns in the 2020-2021 period and the significant uncertainty created by those, the Trustees determined that it was best to postpone any activities in furtherance of the Objectives until after the Reporting Period and once the need for any further lockdowns and related circumstances became clearer.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

7. As noted in paragraph 6 above, in view of the lack of activities during the Reporting Period there are no achievements and performance details to report on, save that the Trustees have and continue to make progress in formulating plans for activities which shall be reported in subsequent Trustees' Reports. Given that the COVID-19 situation and the need for any related lockdowns is, at the time of writing, much clearer than during the Reporting Period, the Trustees are optimistic and look forward to implementing such activities.

FINANCIAL REVIEW

Financial position

8. During the Reporting Period the Foundation had nil assets and nil liabilities. This reflects the fact that the Foundation has not pursued any activities during the Reporting Period. By reason of the aforesaid, the Trustees decided that holding reserves was unnecessary.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

9. The Foundation is governed by a Memorandum and Articles of Association.

Charity constitution

10. The Foundation is constituted in the form of a private limited company by guarantee without share capital and with use of the "Limited" exemption.

Recruitment and appointment of new trustees

11. The Trustees are the first set of trustees of the Foundation and the first subscribers to the Memorandum of Association of the Foundation (the "Members"). The term of the Trustees does not expire until November 2023. Although there is no immediate need to determine the process for the recruitment of new trustees, this is something that the Trustees are currently considering, together with the issue whether it is in the interest of the Foundation to expand the number of Trustees in advance of the implementation of the Foundation's activities.

Organisational structure

12. Notwithstanding the above, the Articles of Association already provide, in summary, that:

a. subsequent trustees are elected by the Members or co-opted by the Trustees (paragraph 3.2);

b. the total number of Trustees must be at least 3 and not more than 12 persons, all of whom must support the objects of the Foundation (paragraph 3.3);

c. a trustee may not act as a trustee unless he/she is a Member and has signed a written declaration of willingness to act as a charity trustee of the Foundation (paragraph 3.4);

d. the usual term of office for a trustees is 3 years, at which point they shall retire, save that a trustee is eligible for reappointment for up to a further two terms, each of which being three years in length (paragraph 3.5);

e. no Trustee shall serve for more than 9 consecutive years, unless the Trustees consider it would be in the best interests of the Foundation (paragraph 3.6); and

f. the Trustees may at any time co-opt any individual who is eligible as a trustee to fill a vacancy in their number, but a co-opted trustee holds office only for one year (paragraph 3.8).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

13003248 (England and Wales)

Registered Charity number

000000

Registered office

5 Corbetts Wharf

87 Bermondsey Wall East

London

SE16 4TU

Trustees

Mr J J Egerton-Peters Barrister (appointed 6/11/2020)

Ms M Peters Retired (appointed 6/11/2020)

Mr S Tailor Project Manager (appointed 6/11/2020)

Independent Examiner

Gibbons Mannington & Phipps LLP

Chartered Accountants

Landgate Chambers

Rye

East Sussex

TN31 7LJ

The Foundation is not a registered charity but is registered with Companies House as the "Egerton-Peters Foundation".

Approved by order of the board of trustees on 3 August 2022 and signed on its behalf by:

Mr J J Egerton-Peters - Trustee

Independent examiner's report to the trustees of Egerton-Peters Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 6 November 2020 to 30 November 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors 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 charity'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.

Independent examiner's statement

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:

1.	accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

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.

Mr J Greenslade

FCCA

Gibbons Mannington & Phipps LLP

Chartered Accountants

Landgate Chambers

Rye

East Sussex

TN31 7LJ

4 August 2022

Total

funds

Notes

£

NET INCOME

-

TOTAL FUNDS CARRIED FORWARD

-

Total

funds

Notes

£

NET CURRENT ASSETS

-

TOTAL ASSETS LESS CURRENT LIABILITIES

-

NET ASSETS

-

FUNDS

3

TOTAL FUNDS

-

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 3 August 2022 and were signed on its behalf by:

Mr J J Egerton-Peters - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 November 2021.

Trustees' expenses

There were no trustees' expenses paid for the period ended 30 November 2021.

3.	MOVEMENT IN FUNDS

Net

movement

At

in funds

30/11/21

£

£

TOTAL FUNDS

-

-

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

TOTAL FUNDS

-

-

-

4.	RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 30 November 2021.