Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-30101482410148241085024true2022-10-01false2No description of principal activity22023-09-30 12511631 2022-10-01 2023-09-30 12511631 2021-10-01 2022-09-30 12511631 2023-09-30 12511631 2022-09-30 12511631 2022-10-01 12511631 2021-10-01 12511631 c:RegisteredOffice 2022-10-01 2023-09-30 12511631 d:CurrentFinancialInstruments 2023-09-30 12511631 d:CurrentFinancialInstruments 2022-09-30 12511631 c:FRS102 2022-10-01 2023-09-30 12511631 c:IndependentExaminationCharity 2022-10-01 2023-09-30 12511631 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12511631 b:Trustee1 2022-10-01 2023-09-30 12511631 b:Trustee2 2022-10-01 2023-09-30 12511631 b:TotalEndowmentFunds 2022-10-01 2023-09-30 12511631 b:TotalEndowmentFunds 2021-10-01 2022-09-30 12511631 b:TotalEndowmentFunds 2023-09-30 12511631 b:TotalEndowmentFunds 2022-09-30 12511631 2 2023-09-30 12511631 2 2022-09-30 12511631 b:TotalUnrestrictedFunds 2023-09-30 12511631 b:TotalUnrestrictedFunds 2022-09-30 12511631 c:FullAccounts 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
Registered number: 12511631
Charity number: 1193233




LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)

CONTENTS



Page
Reference and administrative details of the company, its Trustees and advisers
 
1
Trustees' report
 
2 - 3
Trustees' responsibilities statement
 
4
Independent examiner's report
 
5
Statement of financial activities
 
6
Balance sheet
 
7
Notes to the financial statements
 
8 - 15


LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Trustees
P Sandilands, Trustee
S Cohen, Trustee

Company registered number
12511631

Charity registered number
1193233

Registered office
Island Studios
22 St. Peters Square
London
W6 9NW

Accountants
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH

Bankers
NatWest
1 Granby Street
Leicester
LE1 6EJ

Page 1


LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their annual report together with the financial statements of the company for the  1 October 2022 to 30 September 2023The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

The Foundations objectives are restricted to promoting or carrying out such charitable purposes as the trustees in their absolute discretion from time to time think fit.
 

In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

b. Grant-making policies
 

The tustees will identify, at their discretion, registered charities or other voluntary organisations undertaking charitable activities that align with the purposes and objectives of the Foundation and generally conform to Foundation criteria, conduct due diligence and invite grant applications. Such offers will be made as and when the Trustees identify suitable projects. 
 

Achievements and performance
 

Financial review
 

a. Going concern
 

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

b. Reserves policy
 

As at 30 September 2023, the reserves of the Foundation amount to £542,512 (2022: £507,412). The tustees have established a policy whereby free reserves held by the charity should be maintained at sufficient levels to maintain the charity's operations in the event of short term funding fluctuations or unforeseen costs.
 

c. Summary
 

During 2023, the Foundation received donations totalling £62,500 (2022: £7,500), made total grants of £27,400 (2022: £Nil) along with incurring governance costs totalling £2,400 (2022: £2,508).
 
 

Page 2


LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)
Structure, governance and management
 

a. Constitution
 

Langley Family Foundation is registered as a charitable company limited by guarantee and was set up by a Trust deed.
 

b. Methods of appointment or election of Trustees
 

The Board of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
 

c. Financial risk management
 

The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
 
 

Members' liability
 

The Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up.
 
 

Approved by order of the members of the board of trustees and signed on their behalf by:



P Sandilands
Trustee
Date: 15 April 2024

Page 3


LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the trustees to prepare financial statements for each financial . 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 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 then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Approved by order of the members of the board of Trustees and signed on its behalf by:



P Sandilands
Trustee
Date: 15 April 2024

Page 4


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Independent examiner's report to the Trustees of Langley Family Foundation ('the company')

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


Responsibilities and basis of report


As the trustees of the company (and 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 the company's accounts 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.


This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.


Signed:     Dated: 16 April 2024

Daniel Burke    The Institute of Chartered Accountants in England and Wales
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH
Page 5


LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)
 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
Note
        £
        £
        £

Income from:






Donations and legacies

3

62,500

62,500

7,500
 
Total income
62,500
62,500
7,500
Expenditure on:






Charitable activities

5

27,400

27,400

2,508
 
Total expenditure
27,400
27,400
2,508

Net movement in funds
  
35,100
35,100
4,992

Reconciliation of funds:

  




Total funds brought forward

  

507,412

507,412

502,420
 
Net movement in funds

  

35,100

35,100

4,992
 
Total funds carried forward
  
542,512
542,512
507,412

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 15 form part of these financial statements.

Page 6


REGISTERED NUMBER: 12511631
LANGLEY FAMILY FOUNDATION
 
(A company limited by guarantee)

 
 
BALANCE SHEET
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 8 
500,000
500,000

Current assets
  

Debtors
 9 
11,500
4,000

Cash at bank and in hand
  
33,292
5,920

  
44,792
9,920

Creditors: amounts falling due within one year
 10 
(2,280)
(2,508)

Net current assets 
  
 
 
42,512
 
 
7,412

Total assets less current liabilities
  
542,512
507,412

Total net assets 
  
542,512
507,412


Charity funds
  

Unrestricted funds
 11 
542,512
507,412

Total funds
  
542,512
507,412


The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:


P Sandilands
Trustee
Date: 15 April 2024

The notes on pages 8 to 15 form part of these financial statements.

Page 7


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Langley Family Foundation is a company limited by guarantee incorporated in England and Wales. The address of its registered office is Island Studios, 22 St. Peters Square, London, W6 9NW.
In the event that the company is wound up, each member of the company commits to contribute an amount of £10.
The financial statements are presented in Sterling (£).

2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Langley Family 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.

  
2.2

Going concern

After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

  
2.3

Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 
Donations comprised of unlisted shares, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gift is recognised as income from donations and a corresponding amount is included in the appropriate investment class.

  
2.4

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Page 8


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.4

Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

  
2.5

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

  
2.6

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.7

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.8

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Page 9


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)



Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 10


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

  
2.9

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.


3.

Income from donations and legacies




Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
        £
        £
        £
Donations

62,500

62,500

7,500
 
Total 2022


7,500
7,500


4.

Analysis of grants




Grants to Institutions
2023
Total
funds
2023
Total
funds
2022
        £
        £
        £




Grants

25,000

25,000

-
 


5.

Analysis of expenditure on charitable activities


Summary by fund type




Unrestricted funds
2023
Total
2023
Total
2022
        £
        £
        £




Expenditure on governance

27,400

27,400

2,508
 
Total 2022


2,508
2,508

Page 11


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.

Analysis of expenditure by activities





Grant funding of activities
2023
Governance costs
2023
Total
funds
2023
Total
funds
2022
        £
        £
        £
        £





Expenditure on governance

25,000

2,400

27,400

2,508
 
Total 2022


-
2,508
2,508


Analysis of support costs




Governance costs
2023
Total
funds
2023
Total
funds
2022
        £
        £
        £




Accountancy

2,400

2,400

2,508
 
Total 2022


2,508
2,508


7.


Trustees' remuneration and expenses

During the year, no trustee received any remuneration or other benefits (2022 - £NIL).

During the year ended 30 September 2023, no trustee expenses have been incurred (2022 - £NIL).

Page 12


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Fixed asset investments





Unlisted investments

£



Cost



At 1 October 2022
500,000



At 30 September 2023

500,000




Net book value




At 30 September 2023
500,000



At 30 September 2022
500,000


9.



Debtors


2023
2022
£
£


Due within one year

Other debtors
11,500
4,000


10.



Creditors: amounts falling due within one year


2023
2022
£
£


Accruals and deferred income
2,280
2,508

Page 13


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11.

Statement of funds


Statement of funds - current year

Balance at 1 October 2022
£
Income
£
Expenditure
£
Balance at 30 September 2023
£

Unrestricted funds





General Funds

507,412

62,500

(27,400)

542,512
 



Statement of funds - prior year

Balance at
1 October 2021
£
Income
£
Expenditure
£
Balance at
30 September 2022
£

Unrestricted funds





General Funds

502,420

7,500

(2,508)

507,412
 





12.

Summary of funds


Summary of funds - current year

Balance at 1 October 2022
£
 
Income
£
 
Expenditure
£
 
Balance at 30 September 2023
£
 
General funds

507,412

62,500

(27,400)

542,512
 


Summary of funds - prior year

Balance at
1 October 2021
£
 
Income
£
 
Expenditure
£
 
Balance at
30 September 2022
£
 
General funds

502,420

7,500

(2,508)

507,412
 

Page 14


LANGLEY FAMILY FOUNDATION

(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

13.

Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds
2023
Total
funds
2023
        £
        £


Fixed asset investments

500,000

500,000

Current assets

44,792

44,792

Creditors due within one year

(2,280)

(2,280)

Total 


542,512
542,512



Analysis of net assets between funds - prior year

Unrestricted funds
2022
Total
funds
2022
        £
        £


Fixed asset investments

500,000

500,000

Current assets

9,920

9,920

Creditors due within one year

(2,508)

(2,508)

Total 

507,412
507,412



14.


Related party transactions

During the year the one of the Trustees, P Sandilands donated to the charity a total of £30,000 (2022: £6,000) as well as paying costs on behalf of the charity £Nil (2022: £Nil). As at the year end the P Sandilands was owed £Nil (2022: £Nil). There are no formal terms and conditions of repayment.

Page 15