REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the period |
1 January 2023 to 30 September 2023 |
for |
The Ben Cohen Standup Foundation |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the period |
1 January 2023 to 30 September 2023 |
for |
The Ben Cohen Standup Foundation |
The Ben Cohen Standup Foundation |
Contents of the Financial Statements |
for the period 1 January 2023 to 30 September 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Cash Flow Statement | 7 |
Notes to the Cash Flow Statement | 8 |
Notes to the Financial Statements | 9 | to | 13 |
The Ben Cohen Standup Foundation |
Reference and Administrative Details |
for the period 1 January 2023 to 30 September 2023 |
Trustees |
Registered office |
Registered company number |
Registered charity number |
Bankers | HSBC |
60 Queen Victoria Street |
London |
EC4N 4TR |
The Ben Cohen Standup Foundation (Registered number: 10103020) |
Report of the Trustees |
for the period 1 January 2023 to 30 September 2023 |
Directors and Trustees Report |
The Directors and Trustees present their report and financial statements for the period ended 30 September 2023. |
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Associating and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard for Smaller Entities (January 2015). |
As charitable activities have ceased at the end of September 2023, the trustees have not prepared the financial statements on a going concern basis. No adjustments were necessary in these financial statements to write down the assets to their recoverable value or to reclassify fixed assets and long-term liabilities as current assets and liabilities. |
Objectives and activities |
The charity's objects are to preserve and protect health and to advance education in the subject of bullying and its |
damaging effects in particular within schools, the workplace and targeting homophobia in sport. |
The objectives are met and achieved by providing grants to organisations, programmes and individuals that advance equality and help those people at risk of bullying, those carrying out research into bullying and its long-term effects, and to those that advance the eradication of homophobia in sport. The trustees also carry out work to raise awareness. |
Public benefit |
The trustees have had regard for section 17(5) of the Charities Act 2011 and the Charities (Accounts and Reports) |
Regulations 2008 to the guidance on public benefit issued by the Charity Commission when exercising any powers or duties. |
Being bullied is something which is sadly common to many children in our schools and to many employees in the |
workplace. Persistent bullying can lead to stress and depression. Bullying can lead to anxiety, low self-esteem,hopelessness and isolation. It can also lead to people taking their own lives. |
Through raising awareness of bullying in all its forms and damaging effects, and through the provision of grants to |
organisations in the field, we aim to target these negatives and replace them with positive benefits. We ask people to "standup" against bullying and with those being bullied, thereby promoting community spirit in our schools and |
workplaces, as well. |
Grant making policy |
Applications from those organisations and individuals working in furtherance of our charitable objects to raise |
awareness of bullying and its long-term effects are considered as part of the StandUp Champion Awards by the full |
trustee body. Because lesbian, gay, bisexual and transgender people are often targeted by bullies, we give particular |
attention to this community. We consider the elimination of homophobia from sports as central to our mission. |
The Ben Cohen Standup Foundation (Registered number: 10103020) |
Report of the Trustees |
for the period 1 January 2023 to 30 September 2023 |
Achievement and performance |
During the period, the trustees came to the decision to close the Foundation. Due to financial pressures, it was felt that the remaining funds of the Foundation would be best used to support charities working to combat bullying rather than continuing the Foundation. Over the years the Foundation has supported numerous organisations, championed inclusion and sort to call out bullying and homophobia in all its forms. |
To celebrate the legacy of the Foundation, the trustees selected three previous grantees to receive the final grants. These unrestricted grants will help them to continue the fight against bullying and homophobia. Final grants were awarded to The Anti-Bullying Alliance, Red Balloon Learner Centre in Cambridge and Diversity Role Models. |
Fundraising policy |
The charity does not use fundraising services, consultants or external professional fundraisers to undertake its |
fundraising activities. Additionally, no data is shared with or sold to any external agencies. The charity issues social |
media posts to subscribers (which they can unsubscribe from) that shares information about the charitable work and |
fundraising activities of the charity. The charity does not undertake Direct Mail. The charity invites individuals and |
companies to attend events or to support its fundraising campaigns, usually through its business networks or via its |
supporters, but does not excerpt undue pressure to attend or donate. It doesn't approach or pressure vulnerable people to support its work. A complaints policy is in place and is accessible on the charity's website. No complaints were received and no failures to comply were identified in the current period. The charity adheres to the Fundraising Code of Practice issued by the Fundraising Regulator. |
Fundraising events carried out in aid of the charity are monitored by the Trustees and/or appointed charity |
representatives with contact made during the preparation for, and clean up from, the event. All marketing materials are checked to comply with the Fundraising Code of Practice by the Trustees and/or appointed charity representatives. |
Investment policy |
There are no restrictions on the charity's power to invest. The trustees set the investment strategy after considering |
income requirements and the risk profile. The trustees do not consider high risk or speculative investments as being |
suitable to invest the charity's reserves and therefore avoid such types of investments. Given the current levels of |
reserves the charity has no long-term investments, instead it retains its reserves within its current account. |
Reserve Policy |
The objective of the reserve policy is to achieve a balance between the need to use voluntary income received to fulfil the charity's strategic objectives and the need to retain funds to give sufficient financial flexibility to protect the |
long-term future of the charity's operations and ensure stability in the grant making programme. The trustees aimed to |
maintain free reserves in unrestricted funds above a level which equates to approximately 6 months of unrestricted |
expenditure. The trustees considered that this level provided sufficient funds to respond to applications for grants and committed charitable activity and to ensure that liabilities and governance costs were covered. |
Financial review |
Reserves |
At the end of the period, the Foundation had reserves of £NIL. As the Charity is ceasing its operations the brought forward balance of £17,391 has been used for the purpose of the Charity. |
Basis other than going concern |
The Trustees have concluded that the Charity is no longer a going concern as they do intend to liquidate the Charitable Company and cease its operations. The remaining funds have been completely used for the purpose of the Charity to help reduce bullying and to provide structures to address the impact of bullying. The fund have been used in the form of grants. |
Fundraising |
The trustees are grateful to the individuals and organisations that have given money or raised funds for the Foundation. It is also grateful to AON, Rainbow Lottery, Victoria Rist who assisted with raising money for the charity in the period. |
The Ben Cohen Standup Foundation (Registered number: 10103020) |
Report of the Trustees |
for the period 1 January 2023 to 30 September 2023 |
Structure, governance and management |
Governing document |
The Charity is a company limited by guarantee without share capital. |
The company was incorporated on 5 April 2016 and merged with the charitable trust, The Ben Cohen StandUp Foundation (charity number 1146431) on 30 June 2016. The charitable trust was subsequently wound up in January 2017. |
The Trustees, who are also the non-executive directors for the purpose of company law and who have served during the period were: |
Dominic Christian (appointed 20 November 2019) |
Ben Cohen MBE, Founder (appointed 7 December 2016) |
Peter Dillinger (appointed 20 November 2019, Resigned 2 January 2023) |
Dr Wayne Mullen (appointed 20 November 2019) |
Simon Sheehan, Chairperson (appointed 20 November 2019) |
Matthew Watkins (appointed 7 December 2016) |
The board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. |
None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £10 in the event of a winding up. |
The charity is organised so that the trustees meet regularly to manage its affairs. |
The charity is not part of a wider network. |
Transactions with related parties are disclosed in the notes to the financial statements. |
Decision making |
The charity is organised so that the trustees meet regularly to manage its affairs. |
Wider network |
The charity is not part of a wider network. |
Related parties |
A register is held by the charity of trustees and their related party's interests to ensure no conflict of interest with the work of the charity. This declaration is checked at every trustees meeting. |
Risk management |
The Directors and Trustees have put in place frameworks to limit the level of risk in the conduct of the business. General risks relate to the operational ability to carry out our business including business continuity issues. Financial risks include fraud, the loss of funding from supporters, and the development of business or placing of contracts which expose the Foundation to unacceptable conditions or liabilities. We also pay close attention to risks arising from the regulatory environment in which we operate, as well as the reputational risks we face. |
Mitigation measures include segregation of duties and clear and appropriate policies and control mechanisms being in place. |
Staff and Administration |
The Foundation has no direct staff. The trustees contract a certain amount of administrative assistance; they also carry all financial management tasks and other administrative tasks themselves. The principal office is based in London. |
The trustees declare that they have approved the trustees' report above. |
The Ben Cohen Standup Foundation |
Statement of Financial Activities |
for the period 1 January 2023 to 30 September 2023 |
Period |
1/1/23 |
to | Year ended |
30/9/23 | 31/12/22 |
Unrestricted |
fund | Total funds |
Notes | £ | £ |
Income and endowments from |
Donations and legacies | 3 |
Expenditure on |
Raising funds |
Raising donations and legacies | 4 | - | 2,035 |
Charitable activities | 5 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Reconciliation of funds |
Total funds brought forward |
Total funds carried forward | 17,391 |
The Ben Cohen Standup Foundation (Registered number: 10103020) |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Unrestricted |
fund | Total funds |
Notes | £ | £ |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 9 | ( |
) |
Net current assets |
Total assets less current liabilities |
NET ASSETS |
Funds | 10 |
Unrestricted funds | 17,391 |
Total funds | 17,391 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023. |
The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 |
The Ben Cohen Standup Foundation |
Cash Flow Statement |
for the period 1 January 2023 to 30 September 2023 |
Period |
1/1/23 |
to | Year ended |
30/9/23 | 31/12/22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (20,691 | ) | 7,404 |
Net cash (used in)/provided by operating activities | (20,691 | ) | 7,404 |
Change in cash and cash equivalents in the reporting period |
(20,691 |
) |
7,404 |
Cash and cash equivalents at the beginning of the reporting period |
20,691 |
13,287 |
Cash and cash equivalents at the end of the reporting period |
- |
20,691 |
The Ben Cohen Standup Foundation |
Notes to the Cash Flow Statement |
for the period 1 January 2023 to 30 September 2023 |
1. | Reconciliation of net (expenditure)/income to net cash flow from operating activities |
Period |
1/1/23 |
to | Year ended |
30/9/23 | 31/12/22 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(17,391 |
) |
5,369 |
Adjustments for: |
(Decrease)/increase in creditors | (3,300 | ) | 2,035 |
Net cash (used in)/provided by operations | (20,691 | ) | 7,404 |
2. | Analysis of changes in net funds |
At 1/1/23 | Cash flow | At 30/9/23 |
£ | £ | £ |
Net cash |
Cash at bank | 20,691 | (20,691 | ) | - |
20,691 | (20,691 | ) | - |
Total | 20,691 | (20,691 | ) | - |
The Ben Cohen Standup Foundation |
Notes to the Financial Statements |
for the period 1 January 2023 to 30 September 2023 |
1. | Company information |
The Ben Cohen StandUp Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 49 Netherwood Road, London W14 OBL. |
2. | 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. |
Basis other than going concern |
During the period the Trustees have concluded that the Charitable Company will be liquidated and cease its operations. Therefore, the financial statements are not prepared on the going concern basis. |
As charitable activities have ceased at the end of September 2023, the trustees have not prepared the financial statements on a going concern basis. No adjustments were necessary in these financial statements to write down the assets to their recoverable value or to reclassify fixed assets and long-term liabilities as current assets and liabilities. |
Incoming resources |
These are included in the Statement of Financial Activities (SOFA) when: |
- The charity becomes entitled to the resources |
- The trustees are virtually certain they will receive the resources; and |
- The monetary value can be measured with sufficient reliability. |
Where incoming resources have related expenditure (as with fundraising or contact income) the incoming resources and related expenditure are reported gross in the SOFA. |
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. |
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. |
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. |
Donated services and facilities are only in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. |
The value of voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
The Ben Cohen Standup Foundation |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 30 September 2023 |
2. | Accounting policies - continued |
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. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the charity becomes a party to the contractual provisions of the instrument. |
Other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the charity will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the charity's cash management. |
Financial liabilities and equity instruments issued by the charity are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Equity instruments issued by the charity are recorded at the proceeds received, net of direct issue costs. |
3. | Donations and legacies |
Period |
1/1/23 |
to | Year ended |
30/9/23 | 31/12/22 |
£ | £ |
Donations |
4. | Raising donations and legacies |
Period |
1/1/23 |
to | Year ended |
30/9/23 | 31/12/22 |
£ | £ |
Support costs |
The Ben Cohen Standup Foundation |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 30 September 2023 |
5. | Charitable activities costs |
Grant | Support |
funding of | costs (see |
activities | note 6) | Totals |
£ | £ | £ |
Charity | 17,748 | 1,965 | 19,713 |
6. | Support costs |
Governance |
Other | costs | Totals |
£ | £ | £ |
Charity | 345 | 1,620 | 1,965 |
Admin support and office costs are divided into the areas of activity of the Foundation: fundraising, charitable expenditure and governance, on the basis of the cost of related staff time. Communication costs are divided equally between fundraising and charitable expenditure. Governance costs are then apportioned to fundraising activities and charitable expenditure. |
Support costs, included in the above, are as follows: |
Period |
1/1/23 |
to | Year ended |
30/9/23 | 31/12/22 |
Total |
Charity | activities |
£ | £ |
Administration costs | 345 | 1,998 |
Statutory meeting costs | 1,620 | 13 |
Accountancy | - | 4,663 |
1,965 | 6,674 |
7. | Trustees' remuneration and benefits |
There were no trustees' remuneration or other benefits for the period ended 30 September 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the period ended 30 September 2023 nor for the year ended 31 December 2022. |
8. | Employees |
There were no employees during the year. |
The Ben Cohen Standup Foundation |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 30 September 2023 |
9. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Accrued expenses |
10. | Movement in funds |
Net |
movement |
At 1/1/23 | in funds | At 30/9/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 17,391 | (17,391 | ) | - |
TOTAL FUNDS | (17,391 | ) | - |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,322 | (19,713 | ) | (17,391 | ) |
TOTAL FUNDS | ( |
) | (17,391 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1/1/22 | in funds | 31/12/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 12,022 | 5,369 | 17,391 |
TOTAL FUNDS | 12,022 | 5,369 | 17,391 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 13,950 | (8,581 | ) | 5,369 |
TOTAL FUNDS | 13,950 | (8,581 | ) | 5,369 |
The Ben Cohen Standup Foundation |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 30 September 2023 |
11. | Related party disclosures |
Trustee expenses of £NIL were incurred in relation to governance costs during the year ended 30 September 2023 (For 2022 £NIL). |