REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
THE DUNCAN & TOPLIS FOUNDATION |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
THE DUNCAN & TOPLIS FOUNDATION |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
THE DUNCAN & TOPLIS FOUNDATION |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Statement of Financial Activities | 4 |
Statement of Financial Position | 5 |
Notes to the Financial Statements | 6 | to | 9 |
THE DUNCAN & TOPLIS FOUNDATION |
REFERENCE AND ADMINISTRATIVE DETAILS |
FOR THE YEAR ENDED 30 APRIL 2024 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
BANKERS | HSBC |
88 Westgate |
Grantham |
Lincolnshire |
NG31 6LF |
THE DUNCAN & TOPLIS FOUNDATION (REGISTERED NUMBER: 14054561) |
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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
To promote such charitable purposes for the public benefit as the trustees shall think fit, including but not limited to, the relief of poverty, the advancement of education, the advancement of health, the advancement of citizenship and community development, the advancement of arts, culture heritage or science, the advancement of amateur sport, the advancement of human rights, the advancement of equality and diversity, the advancement of environmental protection or improvement, the relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage and the advancement of animal welfare and the promotion of the efficiency of the armed forces of the Crown, the police, fire and rescue services or ambulance services or other such purposes recognised from time to time by law as charitable. |
Significant activities |
Our second financial year saw a further donation from Duncan & Toplis Limited and further fundraising for the Foundation carried out by Duncan & Toplis team members.. We would like to thank Duncan & Toplis and all Duncan & Toplis team members who made a donation, organised fundraising events at their local offices, or even ran marathons during the year to raise money for the Foundation. Your support and fundraising is hugely appreciated and we have been able to offer financial support to some fantastic organisations as a result. |
Due to these donations we were able to make grants totalling £7,100 to seven charities in our communities that had submitted applications for funding that fell within our focus areas for 2023/24. Our focus areas were: |
1 | Arts and creativity - supporting local artists and promoting cultural diversity in our region. |
2 | Community spaces - creating free access activity areas for local primary age children. |
3 | Food and shelter - working with local charities to help local vulnerable people feed families and find shelter. |
4 | Mental health - work with local groups to educate individuals and organisations in understanding mental health and emotional wellbeing. |
5 | Palliative care - keeping long term and end of life patients close to their families. |
6 | Work for young people - creating local career and learning opportunities for 16-18 year olds. |
Details of the charity's we are proud to have been able to support during the period are shown in the note 3 to the accounts. |
Public benefit |
The trustees confirm they have had due regard to the Charity Commissions Guidance on public benefit. |
ACHIEVEMENT AND PERFORMANCE |
See Significant Activities section above. |
FINANCIAL REVIEW |
During the period the Duncan & Toplis Foundation received donations totalling £5,875 and provided grants of £7,100. At the period end the Duncan & Toplis Foundation had £1,152 in cash at bank and unrestricted reserves. |
As the foundation has no committed or expected costs it is not considered necessary to have a policy of maintaining a certain level of reserves. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, which is its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
The minimum number of trustees as set out in the Charity's Articles is three. Their are currently six trustees which were appointed on establishment of the charity and at the time of incorporation. Future trustees will be recruited based on their skills and experience and will receive appropriate training regarding their trustees responsibilities as well as being provided with the relevant Charity Commission Guidance. |
Trustees are appointed by ordinary resolution. |
THE DUNCAN & TOPLIS FOUNDATION (REGISTERED NUMBER: 14054561) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 APRIL 2024 |
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 |
THE DUNCAN & TOPLIS FOUNDATION |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 30 APRIL 2024 |
Period |
19.4.22 |
Year Ended | to |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
EXPENDITURE ON |
Raising funds |
Raising donations and legacies | 5 | - | 5 | 20 |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,382 |
THE DUNCAN & TOPLIS FOUNDATION (REGISTERED NUMBER: 14054561) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 6 |
Unrestricted funds | 2,382 |
TOTAL FUNDS | 2,382 |
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 DUNCAN & TOPLIS FOUNDATION |
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. |
The financial statements contain information about The Duncan & Toplis Foundation as an individual charitable company. |
The financial statements are presented in £ Sterling and are rounded to the nearest pound. |
The Duncan & Toplis Foundation is a private limited company, limited by guarantee, incorporated in England and Wales. Its registered office is 3 Castlegate, Grantham, Lincolnshire NG31 6SF |
The charitable company is a public benefit entity as defined by FRS102. |
The accounts have been prepared on a going concern basis which the trustees consider appropriate. |
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. |
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. |
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. |
2. | DONATIONS AND LEGACIES |
Period |
19.4.22 |
Year Ended | to |
30.4.24 | 30.4.23 |
£ | £ |
Donations |
THE DUNCAN & TOPLIS FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | GRANTS PAYABLE |
Period |
19.4.22 |
Year Ended | to |
30.4.24 | 30.4.23 |
£ | £ |
Grants paid to charities | 7,100 | 3,500 |
The following charities were supported during the period: |
Charity | Project | Area | Amount |
Kirton Youth Challenge | Towards Youth Centre lighting and redecoration |
Boston | £400 |
Lincolnshire Agricultural Society | Towards educational centre |
Lincolnshire | £5,000 |
Grantham Ark | Towards emergency accomodation for people experiencing homelessness |
Grantham | £400 |
The Respite Association | Towards supporting unpaid carers in the community |
Leicestershire, Nottingham and Lincolnshire |
£400 |
EDAN Lincs | Towards summer activities for families in refuge |
Lincolnshire | £400 |
Carers First | Towards support and social opportunities for male carers |
East Lincolnshire | £250 |
St John the Baptist Catholic Church | Towards building of church hall for community of Melton Mowbray |
Melton | £250 |
Total grants paid | £7,100 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the period ended 30 April 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the period ended 30 April 2023. |
THE DUNCAN & TOPLIS FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
Raising donations and legacies | 20 | - | 20 |
20 | - |
Charitable activities |
Total |
NET INCOME |
TOTAL FUNDS CARRIED FORWARD | 2,382 | - | 2,382 |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.5.23 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 2,382 | (1,230 | ) | 1,152 |
TOTAL FUNDS | (1,230 | ) | 1,152 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 875 | (2,105 | ) | (1,230 | ) |
Restricted funds |
Lincolnshire Agricultural Society | 5,000 | (5,000 | ) | - |
TOTAL FUNDS | ( |
) | (1,230 | ) |
THE DUNCAN & TOPLIS FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
6. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
in funds | 30.4.23 |
£ | £ |
Unrestricted funds |
General fund | 2,382 | 2,382 |
TOTAL FUNDS | 2,382 | 2,382 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 5,902 | (3,520 | ) | 2,382 |
TOTAL FUNDS | 5,902 | (3,520 | ) | 2,382 |
The restricted fund relates to donations that have been specifically received from Duncan & Toplis Limited towards the foundations support of the Lincolnshire Agricultural Society's renovation of the Exo centre into a multifunctional education centre. |
7. | RELATED PARTY DISCLOSURES |
Duncan & Toplis Limited is the sole member of the Duncan & Toplis Foundation. The Trustees of The Duncan & Toplis Foundation are also employees and in some cases shareholders of Duncan & Toplis Limited. |
During the period Duncan & Toplis Limited made donations to the Duncan & Toplis Foundation totalling £5,000 (2023: £5,000). There were no conditions attached to these donations. |
None of the trustees receive any additional remuneration from Duncan & Toplis Limited for any work carried out for the Duncan & Toplis Foundation nor does the Duncan & Toplis Foundation pay Duncan & Toplis Limited for any of the trustees time or for any other services provided. |
As per Charity Commission guidance a clear conflict of interest policy is in place to ensure that trustees act in the best interest of the Duncan & Toplis Foundation as a separate entity at all times. |