Charity registration number 1148919
Company registration number 07927085 (England and Wales)
THE JOSIE REDDINGTON FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
THE JOSIE REDDINGTON FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
J J Reddington (Chairman)
Charity number
1148919
Company number
07927085
Principal address
4 Elstree Way
Borehamwood
Herts
WD6 1RN
Registered office
4 Elstree Way
Borehamwood
Herts
WD6 1RN
Accountants
Goldblatts
4th Floor
4 Tabernacle Street
London
EC2A 4LU
THE JOSIE REDDINGTON FOUNDATION
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
THE JOSIE REDDINGTON FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 January 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are the relief of poverty and sickness and the preservation of health in particular but not exclusively by providing financial support and grants to charities, organisations and individuals who are dedicated to the care and support of those in need due to ill health throughout the UK and Ireland.

 

The policies adopted in furtherance of these objects are set out in the attached notes to the accounts and there has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

 

The Trustees have also referred to the guidance contained in the Charities Commission's general guidance on Public Benefit when reviewing their aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

The main method for raising funds for the selected good causes is the Josie Reddington Charity Cycle Ride, a bi-annual event held in Ireland and donations and entry fees received surrounding the event.

 

During the year, there was no Cycle Ride. A date for the next Charity Cycle Ride has not yet been confirmed at the date of approval of these accounts.

The grant making policy is discretionary and is decided by the Board of Trustees and is contingent on the level of donations received.

Achievements and performance

The performance targets set in the Charity's business and service plans were met.

Financial review

Details of our income and expenditure are set out in the Statement of Financial Activities (SOFA). The total incoming resources for the year amounted to £1,455 (2023: £1,463). With total resources expended of £1,455 (2023: £1,463), this resulted in a no surplus-no deficit position for 2024 and 2023.

 

Net incoming/ (outgoing) resources of £nil (2023: £nil) were incurred on restricted projects.

 

The Charity continues to maintain a sound financial base.

Reserves policy

Due to the size and nature of the Charity there is no formal reserves policy. The Charity has minimal overheads and only distributes available funds.

Principal sources of income

There are no particular key sources of income. Donations are received from companies and individuals in connection with the biennial Charity Cycle Ride directly to the charity and via donation facilitating web sites.

Investment policy

The Trustees have discretion as to the manner in which funds are invested. During the year no institutional charities or individuals in the UK and Ireland, were selected as beneficiaries.

THE JOSIE REDDINGTON FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -

Risk management

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charity. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity.

Plans for future periods

The Trustees are of the opinion that in the current economic climate, a biennial Cycle event is preferable to an annual event. The Trustees have yet to confirm details of the next Cycle event.

Structure, governance and management

The charity is a private company limited by guarantee and was set up in January 2012. It is governed by its Memorandum and Articles of Association dated 27 January 2012. The company's objects were subsequently amended by Special Resolution in August 2012.

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

 

J J Reddington (Chairman)
R May

Recruitment and appointment of trustees and directors' interests

The appointment of a Trustee/director is by the Board and runs until the trustee/director resigns or is removed under terms of the company's constitution.

 

The Trustees focus their attention on strategic issues and delegate operational decisions to the Chairman. Due to the size of the Charity there are no employees.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The charity is managed and directed by its trustees, who are accountable in law for the charity. On this basis they are the only members of the management committee who hold voting rights.

The full Board of the Trustees meets quarterly and is mainly concerned with policy matters and agrees broad strategies and areas of activity for the Charity.

Responsibility for day to day management lies with the Chairman, who has powers and responsibilities approved by the trustees.

None of the trustees receive remuneration from the Charity.

Related parties

The charity is an incorporated entity and details of related parties are given in the notes to the accounts.

The trustees' report was approved by the Board of Trustees.

J J Reddington (Chairman)
Chairman
29 October 2004
THE JOSIE REDDINGTON FOUNDATION
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE JOSIE REDDINGTON FOUNDATION FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Josie Reddington Foundation for the year ended 31 January 2024, set out on pages 5 to 9 from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Josie Reddington Foundation and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Josie Reddington Foundation and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that The Josie Reddington Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The Josie Reddington Foundation. You consider that The Josie Reddington Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of The Josie Reddington Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Goldblatts
30 October 2024
Chartered Accountants
4th Floor
4 Tabernacle Street
London
EC2A 4LU
THE JOSIE REDDINGTON FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
1,455
1,463
Total income
1,455
1,463
Expenditure on:
Charitable activities
4
1,455
1,463
Total expenditure
1,455
1,463
Net income and movement in funds
-
-
Reconciliation of funds:
Fund balances at 1 February 2023
-
-
Fund balances at 31 January 2024
-
-

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE JOSIE REDDINGTON FOUNDATION
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
5,032
3,577
Cash at bank and in hand
19,330
19,494
24,362
23,071
Creditors: amounts falling due within one year
11
(24,362)
(23,071)
Net current assets
-
-
The funds of the charity
-
0
-
0

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 29 October 2024
J J Reddington (Chairman)
Chairman
Company registration number 07927085 (England and Wales)
THE JOSIE REDDINGTON FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
1
Accounting policies
Charity information

The Josie Reddington Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Elstree Way, Borehamwood, Herts, WD6 1RN.

1.1
Accounting convention

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

 

Due to the timing of income receipts that are generally linked to a biennial event, income received in one period may be deferred to a future period when grants to institutions and/or individuals are allocated. Such income is included in creditors.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE JOSIE REDDINGTON FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 7 -

Due to the fact that donations are generally received biennially, and not always in the same accounting period that grants are paid, unallocated or deferred income can arise. Deferred income is included within creditors and matched with grants made in later accounting periods to coincide with the Biennial Cycle event.

1.5
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 are allocated on the portion of the asset’s use.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

 

 

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

 

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

THE JOSIE REDDINGTON FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 8 -
1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
1,455
1,463
4
Expenditure on charitable activities
Charitable activity
Charitable activity
2024
2023
£
£
Direct costs
Share of support and governance costs (see note 5)
Governance
1,455
1,463
Analysis by fund
Unrestricted funds
1,455
1,463
5
Support costs allocated to activities
2024
2023
£
£
Governance costs
1,455
1,463
Analysed between:
Charitable activity
1,455
1,463
THE JOSIE REDDINGTON FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 9 -
6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
7
Trustees

None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the year.

 

8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
2
2
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
5,032
3,577
11
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,713
1,573
Other creditors
20,749
20,597
Accruals and deferred income
900
901
24,362
23,071

Other creditors comprise grants payable of £20,749 (2023: £20,597)

12
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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