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REGISTERED COMPANY NUMBER: 11032807 (England and Wales)
REGISTERED CHARITY NUMBER: 1176477














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

KIRWIN DAVIES FOUNDATION

KIRWIN DAVIES FOUNDATION






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 9

KIRWIN DAVIES FOUNDATION (REGISTERED NUMBER: 11032807)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


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 31 March 2024. 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 objects of the charity are to apply its funds for such exclusively charitable purposes as the trustees may think fit in accordance with the articles of association. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

The principal activity of the charity is to support a limited number of students in financial need with living and other expenses during tertiary education.

Significant activities
The charity will work with certain multi academy trusts to identify applicants who would benefit from financial assistance. The applicants will then be expected to explain in writing why they need help and how the course they plan to undertake will change their lives.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity has not received any donations and has used donations from previous years to enable its charitable objectives and aims to be met.

Fundraising activities
The charity does not carry out any fundraising activities.

FINANCIAL REVIEW
Financial position
During the year to 31 March 2024, the charity received income of £25,000 and incurred expenditure of £30,357, resulting in a total deficit of £5,357. At the end of the financial year the charity had net funds carried forward of £44,526.

Reserves policy
The trustees' policy is to maintain sufficient reserves to enable the charity's commitments, including amounts to due to students to be met.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by its articles of association and is a limited company limited by guarantee incorporated under the Companies Act 2006.

Induction and training of new trustees
The power of appointment of new trustees rests with the founding member of the charity, Geoffrey Davies.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11032807 (England and Wales)

Registered Charity number
1176477


KIRWIN DAVIES FOUNDATION (REGISTERED NUMBER: 11032807)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

Registered office
Hintock Hollow
Higher Blandford Road
Shaftesbury
Dorset
SP7 8DA

Trustees
Ms L S Kirwin (deceased 20.7.24)
G R Davies
Ms H T Eastwood
A P Forster
Mrs C F Mander (appointed 14.10.24)

Bankers
C. Hoare & Co.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 28 November 2024 and signed on its behalf by:





G R Davies - Trustee

KIRWIN DAVIES FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 25,000 -

EXPENDITURE ON
Charitable activities
Grants 29,842 17,812

Other 515 876
Total 30,357 18,688

NET INCOME/(EXPENDITURE) (5,357 ) (18,688 )


RECONCILIATION OF FUNDS
Total funds brought forward 49,883 68,571

TOTAL FUNDS CARRIED FORWARD 44,526 49,883

KIRWIN DAVIES FOUNDATION (REGISTERED NUMBER: 11032807)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Cash at bank 45,006 67,863

CREDITORS
Amounts falling due within one year 7 (480 ) (17,980 )

NET CURRENT ASSETS 44,526 49,883

TOTAL ASSETS LESS CURRENT
LIABILITIES

44,526

49,883

NET ASSETS 44,526 49,883
FUNDS 8
Unrestricted funds 44,526 49,883
TOTAL FUNDS 44,526 49,883

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 28 November 2024 and were signed on its behalf by:





G R Davies - Trustee

KIRWIN DAVIES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Kirwin Davies Foundation is a charity, limited by guarantee, registered in England and Wales. The charity's registered number and registered office address can be found in the Report of the Trustees.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Donations and any associated tax reclaimable from HM Revenue & Customs are recognised when the Trust has been notified in writing of both the amount and settlement date.

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.

Governance costs
Governance costs include costs of the preparation and examination of statutory accounts and administration of the charity. Governance costs are allocated as Other costs within the general unrestricted fund.

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.


Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.




KIRWIN DAVIES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount receivable. Prepayments are valued at the
historic cost of the amount prepaid.

Cash at bank
Cash at bank is defined by the charity as funds available to be used immediately.

Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably.

3. GRANTS PAYABLE
31.3.24 31.3.23
£    £   
Grants 29,812 17,812

Direct charitable grants were made to 3 (2023 - 3) different charitable and voluntary institutions. The grants were made to the bodies named below:-

31.3.24 31.3.23
£ £
Harris Foundation 29,500 17,500
Medecins Sans Frontieres 180 180
Breast Cancer Now 132 132
Total grants for year 29,812 17,812

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Independent examiners other services 480 480

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.



KIRWIN DAVIES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   

EXPENDITURE ON
Charitable activities
Grants 17,812

Other 876
Total 18,688

NET INCOME/(EXPENDITURE) (18,688 )


RECONCILIATION OF FUNDS
Total funds brought forward 68,571

TOTAL FUNDS CARRIED FORWARD 49,883

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Accrued expenses 480 17,980

8. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 49,883 (5,357 ) 44,526

TOTAL FUNDS 49,883 (5,357 ) 44,526

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 25,000 (30,357 ) (5,357 )

TOTAL FUNDS 25,000 (30,357 ) (5,357 )


KIRWIN DAVIES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 68,571 (18,688 ) 49,883

TOTAL FUNDS 68,571 (18,688 ) 49,883

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund - (18,688 ) (18,688 )

TOTAL FUNDS - (18,688 ) (18,688 )

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

Net
movement At
At 1.4.22 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 68,571 (24,045 ) 44,526

TOTAL FUNDS 68,571 (24,045 ) 44,526

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 25,000 (49,045 ) (24,045 )

TOTAL FUNDS 25,000 (49,045 ) (24,045 )

General Fund - This fund represents income from donations, net of governance costs and grants payable.


KIRWIN DAVIES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. RELATED PARTY DISCLOSURES

During the period donations were made by trustees to the charity, G R Davies donated £20,000 and Ms L S
Kirwin donated £5,000. These donations were made without conditions and are included in unrestricted funds.