REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
The European Heritage Foundation |
Limited by Guarantee |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
The European Heritage Foundation |
Limited by Guarantee |
The European Heritage Foundation |
Limited by Guarantee |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Committee Annual Report | 1 | to | 2 |
Report of the Trustees | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 10 |
The European Heritage Foundation |
Limited by Guarantee |
Committee Annual Report |
for the Year Ended 30 April 2024 |
History, objectives and activities of the European Heritage Foundation |
The European Heritage Foundation was founded on 9 October 1990 as an educational charity to increase knowledge of subjects of European interest. |
Management and governance arrangements |
The memorandum and articles provide for a minimum of 3 members of the committee. Were there a requirement for new members of the committee, these would be identified and appointed by the remaining members of the committee. New members of the committee are briefed on their responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new member of the committee would receive copies of the previous year's report and accounts and a copy of the charity Commission leaflet "The Essential Trustee: What You Need to Know". |
The committee annually review the risks that the charity faces. To date these have included minor areas of risk relating to employing staff which have been covered by proper procedures. It has also considered risks relating to terrorism and the Covid regulations. |
Activities |
The Foundation undertook research into areas including: A Climate Neutral Europe, Virtual Worlds Initiative, Packaging Waste, Net Zero Industry Act as well as EU and US Technology Leadership. |
Financial review, investment policy and reserves |
The committee have set a policy to ensure that any surplus funds earn interest. |
Since the income of the Foundation can fluctuate, the committee plan to maintain its foundation reserve as far as is reasonably practicable to provide a stable, long term basis for its activities. |
The Foundation finances at the end of the financial year showed a small surplus of £1759. |
The adequacy of the reserves policy is reviewed annually. |
Public Benefit |
The EHF has considered the Charity Commission's guidance on public benefit when planning its activities. There are clear identifiable benefits in relation to the research and dissemination role of the EHF. The EHF collaborates with a wide range of institutions. The resulting fora are open to all those with an interest in these areas including governmental organisations, NGOs, trade unions, employers, students and external experts. The beneficiaries of the EHF's work is also the general public as much of the output is freely available and in the public domain. |
Future plans |
The committee intend to continue organising similar activities to those it already undertakes. |
Statement of Committee Members' responsibilities |
Charity law requires the members of the committee to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the committee members are required to: |
" select suitable accounting policies and then apply them consistently; |
" make judgements and estimates that are reasonable and prudent; |
" state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and |
The European Heritage Foundation |
Limited by Guarantee |
Committee Annual Report |
for the Year Ended 30 April 2024 |
" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence. |
The committee members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Independent Examiner |
The committee intend to ask the existing accountant to undertake the independent examination of the charity in the following year. |
Approved by order of the board of trustees 17 January 2025 and signed on its behalf by: |
Mrs I Alsbury |
Trustee |
The European Heritage Foundation |
Limited by Guarantee (Registered number: 02547197) |
Report of the Trustees |
for the Year Ended 30 April 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 30 April 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). |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
J R G Auber FCA |
2 Castle Business Village |
Station Road |
Hampton |
Middlesex |
TW12 2BX |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The European Heritage Foundation |
Limited by Guarantee |
Independent examiner's report to the trustees of The European Heritage Foundation Limited by Guarantee ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2024. |
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. |
. |
J R G Auber FCA |
2 Castle Business Village |
Station Road |
Hampton |
Middlesex |
TW12 2BX |
22 January 2025 |
The European Heritage Foundation |
Limited by Guarantee |
Statement of Financial Activities |
for the Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Exchange gains/losses | 2,581 | (4,082 | ) |
Accountancy | 1,213 | 1,100 |
Office costs | 251 | 436 |
Website | 287 | 186 |
Travel &c | 582 | 329 |
Other |
Total | ( |
) |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 90,549 |
The European Heritage Foundation |
Limited by Guarantee (Registered number: 02547197) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 6 |
Unrestricted funds | 90,549 |
TOTAL FUNDS | 90,549 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 |
The European Heritage Foundation |
Limited by Guarantee |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
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. |
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. |
2. | INVESTMENT INCOME |
30.4.24 | 30.4.23 |
£ | £ |
Deposit account interest |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
The European Heritage Foundation |
Limited by Guarantee |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Exchange gains/losses | (4,082 | ) |
Accountancy | 1,100 |
Office costs | 436 |
Website | 186 |
Travel &c | 329 |
Other |
Total | ( |
) |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 90,549 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Accountancy creditor |
The European Heritage Foundation |
Limited by Guarantee |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.5.23 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 90,549 | 1,759 | 92,308 |
TOTAL FUNDS | 1,759 | 92,308 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 22,813 | (21,054 | ) | 1,759 |
TOTAL FUNDS | ( |
) | 1,759 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.5.22 | in funds | 30.4.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 71,195 | 19,354 | 90,549 |
TOTAL FUNDS | 71,195 | 19,354 | 90,549 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 17,590 | 1,764 | 19,354 |
TOTAL FUNDS | 17,590 | 1,764 | 19,354 |
The European Heritage Foundation |
Limited by Guarantee |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.5.22 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 71,195 | 21,113 | 92,308 |
TOTAL FUNDS | 71,195 | 21,113 | 92,308 |
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 | 40,403 | (19,290 | ) | 21,113 |
TOTAL FUNDS | 40,403 | (19,290 | ) | 21,113 |
7. | RELATED PARTY DISCLOSURES |