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REGISTERED COMPANY NUMBER: 06559501 (England and Wales)
REGISTERED CHARITY NUMBER: 1125129


















Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30th September 2024

for

The Bishop & Sewell Foundation

The Bishop & Sewell Foundation






Contents of the Financial Statements
for the Year Ended 30th September 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

The Bishop & Sewell Foundation (Registered number: 06559501)

Report of the Trustees
for the Year Ended 30th September 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 30th September 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 charity is established for the benefit of the the public living, working or studying within the administrative area of Greater London comprising the City of London and the 32 London Boroughs, to support such general charitable purposes as the Management Committee may from time to time determine.

When planning the activities of the charity the Management Committee have considered the Commissioner's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE
During the year to 30th September 2024 the charity received donations of £8,895.

During the year the charity made the following donations;

£1,500 to St Mungo's Community Housing
£1,500 to Mary Ward Centre
£1,500 to Camden Food Bank

FINANCIAL REVIEW
Reserves policy
The trustees aim to maintain reserves in unrestricted funds at a level which equates to approximately 3 months unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and to ensure that there are sufficient funds available to cover support and governance costs.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is a company limited by guarantee as defined by the Companies Act 2006 and was incorporated on 8th April 2008. The charity is governed by its Memorandum and Articles of Association dated 8th April 2008, and registered as a charity on 22nd July 2008.

In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee.

Under the Articles of the company the minimum number of members of the Management Committee is 3, whilst no maximum number has been set. All the members of the Management Committee are required to retire at the Annual General Meeting and are eligible for re-election.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06559501 (England and Wales)

Registered Charity number
1125129

Registered office
59-60 Russell Square
London
WC1B 4HP

The Bishop & Sewell Foundation (Registered number: 06559501)

Report of the Trustees
for the Year Ended 30th September 2024

Trustees
S C Bishop
A Swaine
N F Potter
M Chick
D A Little
C J McCarthy
N H Barlow
K L Bright

Company Secretary
Bishop & Sewell Secretaries Limited

Director
Bishop & Sewell Directors Limited

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 14th April 2025 and signed on its behalf by:





M Chick - Trustee

The Bishop & Sewell Foundation

Statement of Financial Activities
for the Year Ended 30th September 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 8,895 1,441

Investment income 2 225 139
Total 9,120 1,580

EXPENDITURE ON
Charitable activities
Donations 4,500 16,250

Other 756 839
Total 5,256 17,089

Net gains on investments 8,616 5,946

NET INCOME/(EXPENDITURE) 12,480 (9,563 )


RECONCILIATION OF FUNDS
Total funds brought forward 68,859 78,422

TOTAL FUNDS CARRIED FORWARD 81,339 68,859

The Bishop & Sewell Foundation (Registered number: 06559501)

Balance Sheet
30th September 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investments 6 76,695 68,079

CURRENT ASSETS
Cash at bank 5,401 1,524

CREDITORS
Amounts falling due within one year 7 (757 ) (744 )

NET CURRENT ASSETS 4,644 780

TOTAL ASSETS LESS CURRENT
LIABILITIES

81,339

68,859

NET ASSETS 81,339 68,859
FUNDS 8
Unrestricted funds 81,339 68,859
TOTAL FUNDS 81,339 68,859

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 14th April 2025 and were signed on its behalf by:





M Chick - Trustee

The Bishop & Sewell Foundation

Notes to the Financial Statements
for the Year Ended 30th September 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Fixed asset investment
Listed investments are recognised initially at cost which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value.

2. INVESTMENT INCOME
2024 2023
£    £   
Dividend income received 225 139


The Bishop & Sewell Foundation

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2024 nor for the year ended 30th September 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2024 nor for the year ended 30th September 2023.


4. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023
Trustees 8 8

No employees received emoluments in excess of £60,000.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,441

Investment income 139
Total 1,580

EXPENDITURE ON
Charitable activities
Donations 16,250

Other 839
Total 17,089

Net gains on investments 5,946

NET INCOME/(EXPENDITURE) (9,563 )


RECONCILIATION OF FUNDS
Total funds brought forward 78,422

TOTAL FUNDS CARRIED FORWARD 68,859

The Bishop & Sewell Foundation

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1st October 2023 68,079
Revaluations 8,616
At 30th September 2024 76,695
NET BOOK VALUE
At 30th September 2024 76,695
At 30th September 2023 68,079

There were no investment assets outside the UK.

Cost or valuation at 30th September 2024 is represented by:

Listed
investments
£   
Valuation in 2016 5,705
Valuation in 2017 5,931
Valuation in 2018 9,236
Valuation in 2019 5,934
Valuation in 2020 6,707
Valuation in 2021 11,396
Valuation in 2022 (7,777 )
Valuation in 2023 5,947
Valuation in 2024 8,616
Cost 25,000
76,695

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued expenses 757 744

8. MOVEMENT IN FUNDS
Net
At movement At
1.10.23 in funds 30.9.24
£    £    £   
Unrestricted funds
General fund 68,859 12,480 81,339

TOTAL FUNDS 68,859 12,480 81,339

The Bishop & Sewell Foundation

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

8. MOVEMENT IN FUNDS - continued

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 9,120 (5,256 ) 8,616 12,480

TOTAL FUNDS 9,120 (5,256 ) 8,616 12,480


Comparatives for movement in funds

Net
At movement At
1.10.22 in funds 30.9.23
£    £    £   
Unrestricted funds
General fund 78,422 (9,563 ) 68,859

TOTAL FUNDS 78,422 (9,563 ) 68,859

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 1,580 (17,089 ) 5,946 (9,563 )

TOTAL FUNDS 1,580 (17,089 ) 5,946 (9,563 )

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

Net
At movement At
1.10.22 in funds 30.9.24
£    £    £   
Unrestricted funds
General fund 78,422 2,917 81,339

TOTAL FUNDS 78,422 2,917 81,339

The Bishop & Sewell Foundation

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 10,700 (22,345 ) 14,562 2,917

TOTAL FUNDS 10,700 (22,345 ) 14,562 2,917

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2024.