The East Riding Foundation Limited - Charities report

REGISTERED COMPANY NUMBER: 03834562 (England and Wales)

REGISTERED CHARITY NUMBER: 1086406

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

THE EAST RIDING FOUNDATION LIMITED

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

10

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity has been established to promote the advancement of education, the relief of poverty, the advancement of religion, and such other purposes as are exclusively charitable under the laws of England and Wales.

The charity is a public benefit entity.

All donations made by the charity are given to further the charity's charitable purposes for the public benefit. Any suitable requests for donations are considered by the trustees to ensure the widest range of people benefit from the charity's aid.

When deciding on donations to be made, the trustees have had regard to the Charity Commission guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

There were no donations paid during the year.

It is anticipated that future donated funds, which are principally ad hoc donations, will be utilised by the charity in the next year for the benefit of various charitable projects.

FINANCIAL REVIEW

Reserves policy

Unrestricted funds are kept at a level which will enable the charity to make donations on an ad hoc basis.

Going concern

The trustees are in the process of considering winding up the charity in the future and transferring the assets of this and another charity into a new charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing documents, the Memorandum and Articles of Association, and constitutes a limited company, limited by shares.

Recruitment and appointment of new trustees

As set out in the Articles of Association the trustees are appointed by the company's shareholders, acting unanimously, and shall serve until their period of office is terminated under Article 19.

Organisational structure

The trustees meet as required to allocate donations to suitable charities. Decisions are made on a majority basis.

Related parties

The East Riding Foundation Limited is wholly owned by the East Riding Charitable Trust.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The charity has not entered into any long term commitment to support any organisations or charities and hence has minimal exposure to any risks involved in the management of the charity's funds.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03834562 (England and Wales)

Registered Charity number

1086406

Registered office

Manor Farm

Main Street

Hotham

York

East Yorkshire

YO43 4UD

Trustees

M S Healey

Mrs A M Healey

Miss J M Oldfield

Company Secretary

Miss J M Oldfield

Independent Examiner

BCO Accountants LLP

Chartered Certified Accountants

and Statutory Auditors

Driffield

Solicitors

Maurice Turnor Gardner LLP

Milton House

Milton Street

London

EC2Y 9BH

Bankers

HSBC

55 Whitefriargate

Hull

HU1 2HX

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

Approved by order of the board of trustees on 14 July 2023 and signed on its behalf by:

Miss J M Oldfield - Trustee

Independent examiner's report to the trustees of The East Riding Foundation Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.

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.

C B Wilson FCCA

BCO Accountants LLP

Chartered Certified Accountants

and Statutory Auditors

Driffield

Date: .............................................

2023

2022

Unrestricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

28,180

EXPENDITURE ON

Charitable activities

Yorkshire Air Ambulance

-

40,090

Bourne

-

10,000

VSPA

-

3,772

Hospital for Special Surgery

-

18,582

Other

4,695

357

Total

4,695

72,801

NET INCOME/(EXPENDITURE)

(4,695

)

(44,621

)

RECONCILIATION OF FUNDS

Total funds brought forward

15,747

60,368

TOTAL FUNDS CARRIED FORWARD

11,052

15,747

2023

2022

Total

funds

Notes

£

CURRENT ASSETS

Cash at bank

11,952

17,547

CREDITORS

Amounts falling due within one year

4

(900

)

(1,800

)

NET CURRENT ASSETS

11,052

15,747

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,052

15,747

NET ASSETS

11,052

15,747

FUNDS

5

Unrestricted funds:

General fund

10,952

15,647

Share Capital

100

11,052

15,747

TOTAL FUNDS

11,052

15,747

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 14 July 2023 and were signed on its behalf by:

J M Oldfield - 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.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Donations

Income from donations and grants, including capital grants, is included in incoming resources when these are receivable except as follows;

- When donors specify that donations and grants given to the charity must be used in future accounting

periods, the income is deferred until those periods.

- When donors impose conditions which have to be fulfilled before the charity becomes entitled to use

such income, the income is deferred and not included in incoming resources until the pre-conditions for

use have been met.

When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

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 year ended 30 June 2023 nor for the year ended 30 June 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.

3.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2023

2022

Director/Trustees

3

No employees received emoluments in excess of £60,000.

4.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Accruals

900

1,800

5.	MOVEMENT IN FUNDS

Net

movement

At

At 1/7/22

in funds

30/6/23

£

Unrestricted funds

General fund

15,647

(4,695

)

10,952

Share Capital

100

-

100

15,747

(4,695

)

11,052

TOTAL FUNDS

15,747

(4,695

)

11,052

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

-

(4,695

)

(4,695

)

TOTAL FUNDS

-

(4,695

)

(4,695

)

Comparatives for movement in funds

Net

movement

At

At 1/7/21

in funds

30/6/22

£

Unrestricted funds

General fund

60,268

(44,621

)

15,647

Share Capital

100

-

100

60,368

(44,621

)

15,747

TOTAL FUNDS

60,368

(44,621

)

15,747

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

28,180

(72,801

)

(44,621

)

TOTAL FUNDS

28,180

(72,801

)

(44,621

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1/7/21

in funds

30/6/23

£

Unrestricted funds

General fund

60,268

(49,316

)

10,952

Share Capital

100

-

100

60,368

(49,316

)

11,052

TOTAL FUNDS

60,368

(49,316

)

11,052

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

28,180

(77,496

)

(49,316

)

TOTAL FUNDS

28,180

(77,496

)

(49,316

)

6.	RELATED PARTY DISCLOSURES

Hotham Services Limited, a company in which trustee Miss J M Oldfield is director, provided administration services at normal commercial terms to the value of £3,600 (2022 - nil) during the year. There were no outstanding amounts due to Hotham Services Limited at the year end.

7.	POST BALANCE SHEET EVENTS

The trustees are in the process of considering winding up the charity in the future and transferring the assets of this and another charity into a new charity. The objectives and activities of the new charity will be in line with those of the existing charity.

8.	CALLED UP SHARE CAPITAL

Ordinary shares of £1 each;

2022

2021

Allotted, issued and fully paid

£100

Details of rights, preferences and restrictions attached to shares can be found on the confirmation statement filed at Companies House.

The East Riding Foundation Limited - Charities report - 22.2

The East Riding Foundation Limited - Charities report - 22.2