The trustees present their annual report and financial statements for the year ended 30 September 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The trustees will identify and work with charities registered in England and Wales undertaking philanthropic activities within England and Wales in sectors chosen by the trustees as suitable for support; as well as with such charities conducting philanthropic activities outside of England and Wales in jurisdictions in which the trustees have contacts that can assist with reducing costs and maximising the benefit to the end-beneficiaries and/or the environments in which they live.
The trustees will additionally work with donors (individual and organisational) in England and Wales who/which are known to them or of substantial reputation and which seek to extend, or make more efficient/effective, their charitable activity outside England and Wales via cooperation with the charity to attain a better impact on end-beneficiaries’ lives and/or the environments in which they live.
Donations are made for public benefit.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Up to 30 September 2025 the board met numerous times to discuss the status of ongoing projects and present proposals. Each board member, would present their proposed or current project and advise and address any queries from other board members. Should it be necessary they would take the questions back to the organisation to gather further information or clarification. The board committed donations to a number of different organisations focusing on both social benefit programmes and environmental programmes. Donations were made globally with projects included helping the elderly in South Africa, education in Pakistan and work on the River Yare in Norfolk, to pull out a couple of examples.
Financial review
Funding was committed to a number of projects, in 3 different currencies:
AUD30,000 - 1 project
EUR75,000 - 1 project
GBP258,733 - 6 projects
ZAR280,000 - 1 project
The balance on account, at year end is £287,892, putting the charity in a strong financial position.
Due to the way that the charity has been funded and operated, there is no need for a reserves policy and no possibility of the charity incurring unfunded obligations. Should that change, making a reserves policy appropriate, one would be adopted which was very conservative and sought to ensure all obligations assumed would be met as and when falling due.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
In light of the current geo-political situation we have decided that when donating internationally to focus on:
Sub-saharan Africa
Southern Asia
South and Central America
The board of trustees have agreed to the following for the next financial year:
To commit 70-100% of a budget for a Social Benefit Programme
To commit no more than 30% of a budget for a project in the environmental and ecological, flora and fauna sectors
Projects in Asia will receive no less than 50% of the total commitment
Projects in Africa will receive no more than 50% of the total commitment
Each project is to be preferred if in the range of £50,000-85,000, and not more than 70% of any budget is to be donated unless the proposal was initially requested by ALF
Each project is to be completed within 24 months from the first drawdown
All projects are to be implemented outside the United Kingdom
Organisations/charities in the United Kingdom receiving donations and implementing abroad should not be receiving more than 10% of any ALF component of the project budget.
The charity is a company limited by guarantee. As such, the charity is managed by its directors in accordance with its Articles. A committee of the board, comprised of the three UK-resident directors, to function as the donations committee and as such to consider possible beneficiaries and recommend proposed donation beneficiaries, amounts and terms for consideration and, if thought fit, approval by the full board. Unless actual or potential issues of conflict of interest arise and require a director to abstain, all donation decisions are preferred to be taken with unanimity.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
None of the trustees has any beneficial interest in the company. Two of the trustees are members of the company and guarantee to contribute £10,000 - in the event of a winding up.
In September 2024 the UK Donations Committee was established, made up of the following UK based trustees:
Ms S A Saran
Ms G S H Angus
Dr G C Brighty
The Donation Committee meet on a regular basis to present and discuss proposals.
Proposals are approved by a majority vote, the presenting trustee forgoes their vote for the proposal they put forward.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Ave Fenix Albion Foundation Limited (the charity) for the year ended 30 September 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Ave Fenix Albion Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, 99 Gresham Street, London, EC2V 7NG.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. Other than financial instruments which are publicly traded. These investments are measured at fair value with changes in the fair value recognised in profit or loss. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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 are allocated on the portion of the asset’s use.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the year the charity entered into the following transactions with related parties:
During the year, the charity received donations totalling £39,514 (2024: £505,730), from related parties within the Ave Fenix group of foundations,
The charity made donations totalling £27,092 (2024: £0) to related parties within the Ave Fenix group of foundations.
The following amounts were outstanding at the reporting end date:
At the reporting date, the company owed £10,700 to the directors of the company.