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Registered number: 12511631
Charity number: 1193233
LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
CONTENTS
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Reference and administrative details of the charity, its Trustees and advisers
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Trustees' responsibilities statement
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Independent examiner's report
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Statement of financial activities
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Notes to the financial statements
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Company registered number
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Charity registered number
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Island Studios
22 St. Peters Square
London
W6 9NW
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Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH
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NatWest
1 Granby Street
Leicester
LE1 6EJ
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Cazenove Capital
1 London Wall Place
London
EC2Y 5AU
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The trustees present their annual report together with the financial statements of the charity for the year 1 October 2024 to 30 September 2025. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The Foundation's objectives are restricted to promoting or carrying out such charitable purposes as the trustees in their absolute discretion from time to time think fit.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Grant-making policies
The trustees will identify, at their discretion, registered charities or other voluntary organisations undertaking charitable activities that align with the purposes and objectives of the Foundation and generally conform to Foundation criteria, conduct due diligence and invite grant applications. Such offers will be made as and when the trustees identify suitable projects.
Achievements and performance
a. Review of activities
The Langley Family Foundation, has continued to make good progress into its founding objectives. During the year, the Foundation has granted £50,000 (2024: £35,000) to Body and Soul, an organisation which assists children, teenagers and families living with, or closely affected by childhood trauma. There were no grant commitments outstanding at the year end.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
Financial review (continued)
Financial review (continued)
b. Reserves policy
As at 30 September 2025, the reserves of the Foundation amount to £654,205 (2024: £672,766). The trustees have established a policy whereby free reserves held by the charity should be maintained at sufficient levels to maintain the charity's operations in the event of short term funding fluctuations or unforeseen costs. At the year end the Foundation's free reserves are £154,205 (2024: £172,766).
c. Financial risk management objectives and policies
The trustees have reviewed the risks to which a small charity is exposed to. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
d. Summary
The statement of financial activities set out on page 7 of the financial statements shows how the charity's incoming resources have been expended in the year ended 30 September 2025.
The Foundation received donations and Gift Aid contributions totalling £30,000 (2024: £167,654), along with interest income totalling £5,049 (2024: £Nil). The Foundation made total grants of £50,000 (2024: £35,000), along with incurring governance costs totalling £3,610 (2024: £2,400). This resulted in a net deficit for the current financial year of £18,561 (2024: net surplus of £130,254).
The balance sheet set out on page 8 of the financial statements shows the financial position of the charity at 30 September 2025.
Fixed assets are made up of a £500,000 indirect investment in Lifschutz Davidson Sandilands Holdings-UK Limited. The shares were gifted to the charity from the trustees in 2021.
Current assets of £157,814 (2024: £175,166) is represented by cash at bank of £149,814 (2024: £171,166), and other debtors made up of gift aid recoverable totalling £8,000 (2024: £4,000).
Current liabilities of £3,609 (2024: £2,400) is represented by accruals.
The resulting net assets at 30 September 2025 amount to £654,205 (2024: £672,766). This is represented by unrestricted funds.
Structure, governance and management
a. Constitution
Langley Family Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
Structure, governance and management (continued)
b. Methods of appointment or election of trustees
The board of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.
The trustees, that served in the year were:
S Cohen
P Sandilands
c. Organisational structure and decision-making policies
The business of the charity shall be managed by the board who may exercise all the powers of the charity and do on behalf of the charity. The board meets regularly to monitor the activities of the company. A decision of trustees can be taken when all eligible trustees indicate to each other by any means that they share a common view on a matter provided that the eligible trustees taking such a decision would have formed a quorum had a meeting of the trustees been held.
d. Policies adopted for the induction and training of trustees
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
e. Financial risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The Foundation will continue to support charities and organisations that align with its own purposes and objectives.
Members' liability
The members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up.
Small companies exemption
In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Approved by order of the members of the board of trustees and signed on their behalf by:
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
∙select suitable accounting policies and then apply them consistently;
∙observe the methods and principles of the Charities SORP (FRS 102);
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Independent Examiner's Report to the Trustees of Langley Family Foundation ('the charity')
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I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 September 2025.
Responsibilities and Basis of Report
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As the trustees of the charity (and 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 charity 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 the charity's accounts 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
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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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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).
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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.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.
Signed: Dated: 27 July 2026
Marc Levy FCA The Institute of Chartered Accountants in England and Wales
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Total funds brought forward
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Total funds carried forward
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The statement of financial activities includes all gains and losses recognised in the year.
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The notes on pages 9 to 17 form part of these financial statements.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
REGISTERED NUMBER: 12511631
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
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The notes on pages 9 to 17 form part of these financial statements.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Langley Family Foundation is a company limited by guarantee incorporated in England and Wales. The address of its registered office is Island Studios, 22 St. Peters Square, London, W6 9NW.
In the event that the company is wound up, each member of the company commits to contribute an amount of £10.
The financial statements are presented in Sterling (£).
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Langley Family Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
Cash includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
The charity’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest rate method, less any impairment.
Financial liabilities
Basic financial liabilities, including other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in statement of financial activities.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Income from donations and legacies
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Grants to Institutions
2025
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The charity has made the following material grants to institutions during the year:
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Analysis of expenditure on charitable activities
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Analysis of expenditure by activities
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Grant funding of activities
2025
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Analysis of support costs
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Independent examiner's remuneration
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The independent examiner's remuneration amounts to an independent examiner fee of £3,610 (2024 - £2,400).
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Trustees' remuneration and expenses
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During the year, no trustees received any remuneration or other benefits (2024 - £NIL).
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During the year ended 30 September 2025, no trustee expenses have been incurred (2024 - £NIL).
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The charity holds an unlisted investment for which no active market exists. As a reliable fair value cannot be readily determined, the investment is stated at cost less impairment. The trustees review the investment annually for indicators of impairment.
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Creditors: amounts falling due within one year
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Accruals and deferred income
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Statement of funds - current year
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Balance at 1 October 2024
£
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Balance at 30 September 2025
£
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Statement of funds - prior year
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Balance at
1 October 2023
£
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Balance at
30 September 2024
£
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Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Further details of the planned use and purpose of the funds held are set out in the Trustees' Report.
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LANGLEY FAMILY FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Analysis of net assets between funds
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Analysis of net assets between funds - current year
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Creditors due within one year
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Analysis of net assets between funds - prior year
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Creditors due within one year
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Related party transactions
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During the year one of the trustees, P Sandilands donated to the charity a total of £26,000 (2024: £106,000).
During the previous year, the Foundation received £35,000 from 1 Paradise Gardens Limited, a company jointly controlled by P Sandilands.
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