Company No. 3089834 Charlty No. 1048755 Human•.' Values Foundation ¢sS Life.enriching values for everyone REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The BigThink A SPACE TO EXPLORE OURSELVES. OUR VALUES AND OUR WORLD www.HumanValuesFoundation.com www.the-bi -think.or Patrons.. Sir Michael Moryllffgo, OBE, FKC, AKC, ProfKamran MOf, PhD and Dr Kevin A Aulon, PhD Education Advisor.. Sir Anthony seldo MA, PhD, FRSA, A4BA, FRHISLS
HUMAN VALUES FOIJNDATION ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 COIYTENTS Page 11.J, What We I)0 OUT Vision Our Theory of Change Impacts 2024 and Beyond Reference and Administrative Details 10-21 Trustees, Report 22 IndeFtndent Examiner's Report to the Trustees 23 Statement of Financial Activities 2024 24-25 Balance Sheet 26-30 Notes forn]ing part of the Financia] Statements OUR CORE VALUES Truth + Community • Peace + Responsibility • Love rr PON; <ILII ftp•¥e T•sp*ei
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 The Department for Education has found that 'by ihe age offwe, the atta1nnn£ levels of children from disadvantaged backgrounds are, on average, four montlLf behind thelr better offpeers and such gaps can double by the end ofprimary schooling,. We are future focused and detennined to galvanise better education outcomes for all children, whatever their social backgrounds and circumstances. The aftennath of the pandemic and the worsening cost-of-living crisis have led to the attainment gap widening between children growing up in hardship and those being raised in wealthier settings. As ever, we aim to help reduce. or better still. eliminate this divide with the content and structure of our programmes. along with informative staff training. This combination provides a tangible. strategic direction for schools, reinforced by a constant flow of tssks and opportunities that pave the way for all participants to flourish and fulfil their potential. Education is an important route for social justice. the constituents of which are about making society function better and eradicating disadvantage. Our focus on improvements provides support. skills and tools to help turn lives around and dissolve blockages to social mobility. In a more equitable and inclusive society, everyone has the opportunity to excel and contribute to the common good. As Sir Ken Robinson said. "Tliefaci is, tliai given the challenges weface, educatioii doesn't need io be reformed- li needs to be transformed" We have always championed Personal, Social and Emotional Development (PSED). It is fundamentsl for effective learning and being able to shape one's future in favourable ways. Studies consistently demonstrate a higher prevalence of PSED needs in socially disadvantaged communities. Supporting PSED skills is now a priority for schools. The holistic. ready-to-teach development resources and high-perfonnance staff training we provide help to bridge the gap between education research and good practice. We intend to progressively empower children aged 3 to I I so they think critically and independently, make consistently good, values-based decisions and fully utilise their talents and interests. THE BIG 3 +ME TIIE BIG 11(4nowip ¥uS LOVE The 8igThink LOVE THEBIG3+ME Personal, Social and Emotlonal Development {PSED) programme for ages 3 to 5 THE BIG 5 Personal, Soclal and Health Educatlon (PSHE) programme for ages 5 to 11
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 From our Education Advisor, Sir Anthony Seldon: "What a joy thal The BIG 3 And ME grows vital human skills in both Early Years praciitioners AND their little learnersfrom the earliest age when li matters mosL This PSEDprOgraMn is surely a game-changer." And leading educationalist Jean Gross CBE commente4 "J love the )vay THE BIG 5 combines oracy developmen¢ andsocial andemotional learning- both incrediblypowerful ways of increasing children's attalnmen¢ and Ilfe chance& Such great resources too - books, assemblies. lesson plans and mindfulness trncks" OUR VISION To provide schools with practical teaching materials and staff training so that children are given the optimum start in life with A purposeful, vibrant, ambitious education system that enables them to thrive throughout their school careers and play their parts in a more promising future for alL As changemakers, we strive to enrich teaching, schooling and parenting. promoting a collaborative culture of high cxptctations. care for individuals. strong. uplifting values and relevant. enjoyable education that sparks an enduring love of learning. Blending stimulating teaching with interventions to support, nurture and challenge children, we aim to perpetuate ambition and agency for each child, whatever their starting point, and to equip them early in their life journeys with inspiring and motivational attitudes, skills. knowledge and values. Responsible dv( i%ii)ri ITldkiwig row, TheBigThink Self-awareness Self-management Social awareness the-big-think.org I THE BIG 3 + ME and THE BIG 5 programmes are aligned to statutory expectations.. O Personal, Social & Emotional Development (PSED) for ages 3 to 5 O Spiritual. Moral. Social & Cultural ISMSC) development for ages 5 to 11 / Relationships, Sex & Health Education {RSHE) for ages 5 to 11
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (conlinued) FOR THE YEAR ENDED 31 MARCH 2024 Our staff training. resources and the resulting tangible actions ensure safe, calm, protected and supportive learning environments. Those who facilitate the personal development sessions derive great job satisfaction from being conscientious, informed role models who know how to create the conditions in wkn.ch children of all abilities can flourish. Our intention is that purposeful personal growtlL involving deep, immersive, experiential learning. enables children to enjoy constantly making tangible progress. Arn]ed with a toolkit of techniques and an expansive mindseL we look forward to the emerging generation being able to grasp and create opportunities and take pleasure in achieving academically, spiritually, socially, emotionally and physically. PUBLIC BENEFIT The Foundation's mandate is to help meet the developmental needs of schoolchildren and thereby enrich and strengthen the fabric of society. EJUCATml From birth to the age of five, children develop life-defining physical. cognitive and social- emotional skills. They are key to their achievements during their school careers, with long- tenn effects that shape their adult lives as well. These early years are now considered the most important phase of a child's education. However, historically, they have not been particularly well supported. We are instrumental in helping to turn that around. "Never doubt that a small group of thoughtful, committed Citizens can change the world,. Indeed, It's the only thing th ever ha&" (Margrei Mead. 1901-1978. Anihropologisf) Our programmes enable children to tkn'nk for themselves. They are being taken up and promoted by insightful educationalists who are detennined to propagate improvements in the quality, relevance and effectiveness of pre-school and primary phase education. For those teaching children from socio-economically deprived communities or with Special Educational Needs and Disabilities (SEND). they are (kriving huge satisfaction as they witness the potentially transformativc differences in their pupils, quality of life and prospects. Our skn'lls-rich offerings provide a route map for these teachers and nursery practitioners to strengthen each child's internal locus of control. Morale is boosted as they celebrate the eager, sustained participation that leads to their pupils incrementally gaining the capabilities needed to give them a voice as they experience and interpret life day by day. The resulting better wellbeing for all the adults involved as well as the children, and the positive impacts on attainment levels. are helping to tilt the early years and primary phase education system towards something that befits stakeholders, growing desire for the sector and its important contributions to society.
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 OUR PROJECTS The Big 5 School Climate Project Modelling by staff is a cornerstone of effective teaclu'ng. As Dr Haim Ginott, a school teacher, child psychologist and psychotherapist (1922-1973) said. "I've come to the fnghteniiig conclusion tliat l am ihe decisive element in ilie classroonL It is ry personal approach that creates the climate, il's ry daily mood that makes the weaiher. . . A distinct advantsge of the elements making up The Blg Thlnk learning modules is that as they are delivered, practitioners become increasingly aware of their own strengths, weaknesses, values and motivators. The lesson patterns build facilitators. confidence in nurturing hugely important life skills and they become conscious of their infiuences and how to ensure the very best levels of social, emotional and academic achievement are being made possible. In 2022, thanks to a grant from the Foyle Foundation, we created a free resource that we called THE BIG FIVE PROJECT. It was designed to help primary school teachers better understand and manage their own wellbeing and the increasing social and emotional anxieties of many of their pupils. The pack of10 lessons from The Big S programme (five for ages 5 to 7 and a further five for ages 7 to I l) can be used to run a 5-week project to enhance the wellbeing of both staff and children. It has proved to be a popular resource. JJ In August 2023 we were advised that it had been chosen as a Teach Primary FINALIST in the WELLBEING category because of how it: promotes happiness and health for pupils and reachers alike • • supporls leachers in delivering ihe hlghest standards In educatlon provides the very educadonal perIence for chlldren aged 5 th 11. teach PRIMARY AWARDS 2023 FINALIST The Big 3 And Me project Following an application in November 2022, at the start of 2023, the Education Endowment Foundation (EEF) advised us that we had been awarded a grant of £22,000 to contribute towards the costs of engaging with their structured development process to create an innovative Early Years programme for children aged 3 to 5. deliver it to 12 settings in the Autumn tenn and collect fornmtive feedback about the pilot in 2024's Spring tem. We were to adapt the impactful features of The Big 5 that work so well for ages 5 to I l. The aim was to help fill gaps the EEF had identified in th¢ provision of education for pre- school children, advance teaching with research-inforn]ed Fdagogies and provide resources conducive to improving the attainment levels of clll'ldren aged 3 to 5. The EEF was funding high-potential projects to attswer the most important questions as suggested by the existing evidence base and school priorities. The impacts were to be most beneficial for socio-economicAlly disadvantaged children. The theme for our project was Personal, Social attd Emotlonal Development (PSED). including self-regulation.
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 Throughout the late spring and summer of 2023. we attended a superb series of infonnative and disciplined workshops. We developed a theory of change to ensure our new programme and associated training would focus on operational excellence and help lead the way to necessary and urgent, systemic changes in early childhood education. To trial the programme and training during the autumn tcrni. with the support of A Bri hter Start. East London's Early Years Stronger Practice Hub, we recruited six nursery settings and six schools that catered for 4-year-olds in Reception classes. We worked intensely on the project during the summer. Associating three of The Big 5 core values.. Peace, Truth and Love with the three critically important goals for Early Years.. Self- regulation, Self-awareness and Building Relationships, we created three sets of eight learning modules. Just as we did for The Big 5, we drew on external expertise to assist us in creating exceptional classroom resources. These include Silent Sitting, mindfulness tracks that promote wellbeing and concentration. For each lesson. children sit in an inclusive circle around a mat that depicts three friendly animals. The cuddly panda, turtle and puppy help chilthen identify with their characteristics, brought out in the lessons, so they can put those qualities into practice in real-life situations. Feelings cards constantly expand participants, ability to han(lle their emotions. Each card has a corresponding British Sign Language film clip and the children absolutely love using their hands and faces in such expressive ways. For fun and togetherness. every Icsson includes one of th¢ specially composed songs. Each Reception lesson also includes a story to reinforce understanding and applying learning. Tmt IGS +Mt Promot•$ **llb•lng Enri¢h•s i•a¢hing Nurtur•s languag•, communicotlon, soc1 & •modonal sklll• Insplr•s al pani¢ip•nts w PSED toolkit for ages 3 to S + Staff trainingadvances skillsets& practices for excellent early years provislon + 24 time•saving, immersive & empowering modules aligned with EYFS goals: 11 Self-regulation 2) Self-awareness 3) BuildingRelationships Supported by the {-. cjucation F n(Jowmer'. l oundatioi. In the autumn tenn, we introduced the 12 settings to the resources and modelled how to optimise all the different features and elements of the programme. There were monthly on- line check-ins. with input from everyone fertilising best practices. There were significant numbers of children with special educational needs and disabilities (SEND) and staff warned us they might not be able to join in but to everyone's delight. there was IOOO/o participation. All the children revelled in the Silent Sitting gentle music and guided visualisations. By the end of the pilot in December, staff were arnazed at the progress children had made - and in such a short time. We invited the triallists to continue using the programme during the 2024 spring and summer tenns- all of them grasped and relished this opportunity.
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 OUR THEOR Y OF CHANGE As systemic changes are beginning to emerge, shifting towards whole-person education, we are a raising agent for standards, practices, morale and outcomes. Schools and nurseries using The Big Think suite of programmes regard them as "fantastic" They very much appreciate their quality and richness as they strive to move towards a more relevant and balanced education ecosystem. They delight in the culture they embed and how they leverage social and emotional learning. THE BIG THINK: foundations for life Th•8vaThiTrk CHILOREN 2 enga8lng, hlgh quallty programmes for a8e5 3-5 and 5-11 progressively.. ' develop CAPA81UTY ' create OPPORTUNrnE5 Increase MOTIVATFON empowerlng the whole leamlng communlty wlth SOCIAL and EMOTIONAL skllls so everyone ACHI£VESand THRIVES STAFF CAREGlVtRS the-blg-thlnk.or8 OSMSC O RSHE < PSHE / PSED Developing CAPABILITY Social. emotional and mental health challenges are taking their toll on children, blighting their wellbeing and capacity to learn. Many educationalists are finding they are facing behaviours outside their training and experience. Our evidence-infonned guidance, approaches and resources help to achieve high quality personal, social, emotional, language and communication growth essential for fulfilling potential. Creating OPPORTUNITIES o We regularly offer free, online workshops to share tips and expertise with nursery practitioners, teachers and school leaders. We demonstrate how to lead initiatives and drive changes that can be ingrained in setting cultures and that encourage pro- social behaviour. We show how stakeholder collaboration reinforces the breadth of learning now recognised as vital for properly equipping young Fople for life. Increasing MOTIVATION o Monthly check-ins during the trialling of TB3+ME gave us clear indications of just how appreciative frontline staff are of the modelling session we include in training and the various techniques we have incorporated in the lesson plans to instil children's self-regulation, self-awareness and relationshipbuilding skills. Th¢ range of differences they witnessed in their pupils in just one terni fired them up. They delight in deepKning individuals. varying levels of improvement and capitalise on teachable moments in real-life situations at any time and anywhere in school.
UMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 IMPACTS Throughout the financial year. the education sector continued to struggle with the legacy of the pandemic and its inhibiting repercussions on pupils. perfonnance. increased costs, staff recruitsnent and retention, strikes, Ofsted issues. disquieting world events and low morale. These factors significantly impmcted on our income. However. those using our 'soft skills, programmes for ages 3 to I I constantly expTessed delight in how the different components and activities were making marked changes in pupils, attitudes, social and emotional comFttencies. capacity to concentrate and learn effectively, behaviour and wellbeing. They also found that as they implemented the modules, they too exp%rienc personal growth, contributing to both short-tenn and long- term improvements across their entire school communities. With the re-think about education. there are especially huge pressures on the early years workforce. Our evidence-infornied staff training means those with the courage to challenge the status quo can enjoy an improved sense of self-efficacy in implementing and modelling for their pupils, what is now being recognised as essential personal. social and ¢motional development. They can go beyond what our resources help them achieve in regular, dedicated lesson slots. confidently responding to individuals, various needs and providing guidance in re-lIfe contexts and situations throughout each day. 2024AND BEYOIVD We will continue to champion deviation from 'business as usual. and support those entering unchartered territory as they begin to systematically nurture whole-child, rounded development. We will further refine our programmes and the training of educationalists so as to blend innovation in teaching with values-themed expKriential learning modules that empower and challenge children to be ambitious and the bcst they can be. We are committed to young Citizens, progress, whatever their starting points, so they are well eqUIpd to gain from all the opportunities in their life-long learning journeys. Our intentions chime with what the Princess of Wales has been advocating since January 2023, when she launched her 'Shaping Us ' initiative to raise public understanding of the crucial importance of the early years of children's lives. "The way we developj through our PerienceS, relalionships, and surroundings during our early childhood,fundamentally shapes our whole lives. It affects everythingfrom our ability toform relationships and thrlve at work, to our mental andphysical wellbeing as adults and the way weparem our own children These are the mostpreventadve year& Byfocusing our collective time, enewj and resources to build a supportive, nurturing world around theyoungest members of our society and ihose caringfor the we can nwke a huge difference lo ¢he health and happiness ofgenerations to come,:
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMtNISTRATIVE DETAILS Nam Ch8ri and Com an The Human Values Foundation ("the Foundation") is registered as a charity with the Charity Commission (number 1048755) and it is also a registered company limited by guarantee (number 3089834). istered Office The Coach House, Salisbury Road. Horsham. West Sussex RH13 OAJ Directors and Trustees The Directors of the charitsble company are its Trustees for the purpose of charity law and throughout this report are collectivcly referred to as the Trustees. The Trustecs during the year and since the year end: Mr C A Fowler. MA (Oxon). FRSA Ms K Deboo. International Montessori Diploma Miss A L Greenwood, B Ed, M EIL Msc Mr Ricci Masero, MCIM, Cmktr Ms E Terblanche, BS¢. MBA Mrs L A Whittlestone, MCIM. BA Chair Appointed 21 July 2023 Senior Mana ers CEO & Secretary Ms R C Dewan, Bsc Honorary Treasurer Mrs V Mohan. FCCA Other relevant or anisations Independent Examiner Stewart & Co, Chartered Accountants, Knoll House, Knoll Roa(L CAMBERLEY, Surrey GUI5 3SY Bankers Lloyds Bank Plc. 15 Penn Roa(L HAZLEMERE. Bucks FU)15 7LN Supported by Education Endowment Foundation
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPOR T The Trustees are pleased to present their report. together with the financial statements of the Human Values Foundation ("the Foundation") for the year ended 31 March 2024. Reference and administrative details set out on Page 9 fonn part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of Association, and Accounting and Rewrting 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). This report also serves the purposes of Section 162 of the Chan'ties Act 2011 and the Directors, Report for the purposes of Section 415 of the Companies Act 2006. OBJECTIVES AND ACTIVITIES Objectives of the Foundation The Foundation's objectives are to inform and inspir¢ the education sector and provide opportunities for professional development conducive to enriching pre-school and primary stage learning. We provide enlightening. evidence-based resources and training that enhance schools. perforniance and help them achieve a more relevant, holistic education for their pupils in line with the rethinking taking place. Our programmes, processes and practices empower children with competencies. including how to choose and use life-enriching values. Our contributions to advancing the quality and effectiveness of teaching and learning can make transforn]ational and lasting differences to individuals, wellbeing. mental health, aspirations, attainment and life chances. rhe Blg Think suite of cngaging, multi-medii experiential learning programmes has been developed by teachers for teachers. They provide a toolkit and systematic, structured yet flexible pathways for practitioners to progressively equip their pupils aged 3 to I I with attitudes, knowledge, skills and values that profoundly shape their learning and prospects, THE BIG THINK: experiential learning for ages 3-11 that builds an essential toolkit of life skills TRUTH Self-awareness PEACE Self-management ExplurJn9 leÈlingS. values thoughts & 5trength5 The BigThink Hdndlii)9 L4niolitsi)s, inner Self, time & aspirations COMMUNITY RESPONSIBILIIY Responsible decision-making Social awareness Iiij i Looking into & •pPreCiatir the rithne55 of humanity collaborating & LOVE Relationship skills Steiiin9 & being rin9, kir•d & 5UPFM>rtFve io
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Objectlves and actlvities continued Public Benefit The Trustees confinn they have complied with and paid due regard to the Charity Commission's public benefit guidance when deterniining the Foundation's aims and objects'ves and planning future activities. We champion joined-up. 'Big Picture,, child- centred education that includes explicit social and emotional development along with nurturing Character strengths and the capacity to think critically. Our work builds on the traditional knowledge curriculum. incorporating several preventative elements. such as good mental health practices. resilienc¢. a moral compass and prowsocial behaviour. The collaborative and supportive whole-school community approaches that we advocate provide a quality education that raises the likelihood of all young citizens, whatever their backgrounds, fulfilling their potential and leading ambitious, purposeful, happy. healthy lives. The longer-tenn repercussions for society include helping to reduce the billions of pounds spent each year as a result of children's underachievement. personal difficulties, poor m¢ntal and physical health. involvement in crime. alcohol-related problems, substance abuse, anti-social behaviour. racial and religious dishannony, etc. Main Objectives for the year to 31 Mareh 2024 In March 2023. the TnteeS refreshed and finalised the Strategic Plan. We set a tight budget for the year ahead as we focussed on developing a new programme to support children's vitslly impx)rtant early years. With mounting pressures on the education sector. we were detennined to improve morale and wsitively irnt the quality of life. learning outcomes and prospects for very young pupils. Against the backthop of the legacy of the Covid pandemic and teachers continuing to grapple with the welfare of many of their pupils, along with the changing education landscape. we resolved to pursue the following strategic pnorities: (l) Strengthen our core business activities (2) Communieate and eollaborate (3) Safeguard the Foundation's finaneiAI stsbility (4) Monitor progress. Strategies for achieving these objectives (l) Strengthen our core business activities With the urgent need for higher quality carly childhood education and to reduce, or better still, eliminate the gap in attainment by the age of five for many children growing up in socio-economically disadvantaged communities, under guidance and funding from the Education Endowment Foundation (EEF), during the spring and summer, focus on developing The Big 3 And Me (TB3) programme and training for the comprehensive Personal, Social and Emotional Development (PSED} of children aged 3 to 5. During the autumn, in line with the EEF grant-funded PTojecL lay the foundations for extending the reach of our pioneering work by piloting TB3 in nurseries and reception classes. Use the feedback and insights gained to make more evidence- based approaches to PSED available to schools and early years settings.
HUMAN VALUES FOUNDATION TRUSTEES. ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Strategiesfor achIng these objeclives continued Continue to refine and improve The Big 5 (TBS) programme to address the evolving needs of children aged 5 to l l. Promote evidence-infornled practices, extending the skillsets and expertise of teachers. practitioners and other members of staff. Raise awareness of the importance of regular, timetabled lessons to progressively enable learners to grasp and positively respond to opportunities to flourish and fulfil their potential as healthy, balanced and caring citizens. As values become more centre stage throughout the world, in workplaces, individuals, lives and society generally, and educationalists seek impactful, research- based training and products that empower children from their early years, ramp up our efforts to introduce TB3 and TB5 to nurseries and schools. Apply a range of marketing approaches. including flexible pricing plans for smaller entities. bespoke practitioner training and parent outreach plans. Offer free, online workshops to demonstra* the methodology and benefits of these key life skills programmes. Expand our ability to recruit nurseries and schools to TB3 and TB5 5 across a broad geographic range by steadily developing a network of enthusiasts who can support the introduction of the programmes into appropriate settings across the UK and in due course outside the UK. This initiative can embrace trainers for both on site and online training. (2) Communicate and eollaborate To extend our reach, expertise and impac( strengthen, initiate and develop partnerships with others who share our vision and values. Collaborate and engage with educational, school. academy and Early Years Icaders and practitioners and other like-minded organisations to help primary schools, reception providers and nurseries address new curriculum requirements and age-appropriate development goals. Demonstrate to settings with chilthen in the age range of 3 to I l years how our TB3 and TBS programmes nurture social and emotional skills that are protective factors for mental health and foster techniques for coping with the ubiquitous. high levels of stress and anxiety. With those also detern)ined to address challenges interfering with children's life. learning and wellbeing, raise awareness of how consistent use of these programmes equips childr¢n with the tools and resources they need to regulate their emotions, concentrate well, interact constructively with their peers and develop strong and fruitful relationships. Work with universities and educational institutions to secwe funding for specific research projects into the effectivencss of values-led education in general and our personal. social and emotional development programmes in partscular. (3) Safeguard the Foundation's financial stability Aim to increase revenues with an iManative and relevant business model for growth, including campaigns to attract subscriptions for TB3 and TB5 and related training sessions and exploring other potential revenue-generating areas, such as supporting schools with parental outreach on relationships education and wellbeing. Retain, recruit, develop and suptx)rt skilled and confi(knt staff, volunteers and ttees, maintaining and growing opp)rtunities to network with others keen to advance young citizens. education experiences. J2
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Strateglesfor achieving these objeclivew contlnued Maintain existing donorlfunder relationships and develop new ones, particularly in respect of our efforts to be a catalyst for advancing education and improving the life chances of children who are disadvantaged in various ways. Continue recovering reserves to an agreed level by managing the budget to plan. {4) Monitor progress Maintain periodic reviews of our strategic direction. tsking account of factors affecting the education sector. risks, costs and our resources. the paradigm shift taking place of necessity to transform and regenerate education, how technology is being applied, and global events, and make timely and appropriate adjustsnents in response to ever-changing realities. Continue assessing and monitoring progress towards achieving our aims and delivering on our strategic priorities. Significant activities that contributed towards achieving our objectives Our involvement throughout the financial year in the Education Endowment Foundation's rnission 'to answer the mosl impor¢anl questions as suggesied by the exisling evidence base and school priorities. priorilising ihe areas ihai are likely io be most beneficialfor socio- economically disadvanlaged children,. has been enorn]ously instrumental in aclll'eving our aims. As we continued to host free webinars, which included increasing the understanding by nursery practitioners, teachers and school leaders of the need for balancing academic learning with life skills development. and conducting training for schools taking up TB3 and TB5. we continuously gained insights into frontline predicaments and experiences. With our long track record of whole-child educatioo we responded with practical solutions, our principal activities being to.. ensure TB3 and TB5 are regarded as effective, comprehensive 'soft skills, programmes by using research and developing and refining them so they not only align with personal development expectations for children aged 3 to I I but exceed them train educators in conducting community values dialogues to promote shared values and cohesion amongst school staff, children and members of the wider community, particularly as sensitive topics are addresse(t such as those in the statutory Relationships, Sex and Health Education (RSHE) curriculum and protected characteristics further researclL design and deliver engaging. up-to-date teaching methods and best practices and incorporate in training sessions. OprtunItieS to model and rehearse skills new to participants, thereby building their ability to apply them effectively make certain programme content remains aligned to and fulfils eXCtationS for Early Years Personal, Social and Emotional Development (PSED) and primary phase Spiritual, Moral. Social and Cultural (SMSC) provision and wider Personal, Social. Health and Economic (PSHE) education carry on seeking opinions from practising practitioners so that from the age of 3 to I I children continuously benefit from empowering. relevant and enjoyable learning experiences maintain the high quality of our programmes and recommended implementation methodologies through researcty monitoring, feedback and evaluation. 13
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ACHtEVEMENTS AND PERFORMANCE Perfornanee aehieved against set objectives Our team's detennination to be a guiding light enabled us to continue to operate Under the difficult financial climate and the breadth of hurdles prevailing in schools. (l) Strengthen our eore business activities Following excellent. infonnative workshops by the Education Endowment Foundation, w¢ successfully designed, built, pilote analysed and reflected on our new programme The Big 3 Andme (TB3) for children aged 3 to 5 and the associated training. Such was the enthusiasm for the range of wsitive impacts on both children and staff after only one tenn, all the 12 settings involved in piloting TB3 elected to continue using it for the rest of the academic year. When one setting faced its Ofsted inspection, it was rated Outstanding for its Early Years provision. In January 2024 we began penetrating the early years market. Schools with children from the age of 3 or 4 upwards started subscribing for TB3 together with staff training. For sev¢ral schools. due to deficit budgets, this was feasible only because of contributions from grants we had received. We, along with school leaders, are enonnously appreciative of the funding from The Barleycorn TrusL the Joan Ainslie Charitable Trust. The 29 May 1961 Charity. The Shanly Foundation. The Catherine Cookson Charitable Trus( the Fowlcr Smith and Joncs Trust and Mrs L D Rope's Third Charitable Settlement. Using experience from piloting TB3. we refined TB5 to ensure teachers have the necessary training and resources required to meet the concerning social and cmotional needs of children aged 5 to I l and provide them with a broader education that better prepares them for their wondary schooling and beyond. The evidence- infornied practices we demonstrated in all training sessions were enthusiastically welcomed, along with the structured lesson kits that enrich pedagogy and enhance the expertise of teachers as they use them. We stressed how commitsnent to timetabled use of TB3 and TBS is needed to deliver on school improvement plans and missions. Staff were amazed at how children resN)nded and the long-tenn potential for their fulfilment as healthy, balanced and caring members of society. We began to apply a range of marketing approaches, including flexible pricing plans for smaller entities. bespoke practitioner training and to lead school community dialogues, promoting cohesion between staff. children. parents and carers. We hosted a series of free, virtual workshops to demonstrate the methodology and benefits of high quality, systematic personal, social and emotional d¢velopmenL highlighting effective practices from our life skills programmes. We are looking to develop a network of enthusiasts with relevant experience in nurseries and primary schools to support the introduction of our Personal Development programmes into relevant settings across the UK and in due course outside the UK. This will entail engaging trainers for both on site and online training. (2) Communieate and collaborate To extend our reach, eXrtiSe and impacL we refreshed. initiated and explored partnerships with others who share our vision and values. We collaborated and engaged with educational, school, academy and Early Years leaders and practitioners and other like-minded organisations to help nurseries and primary schools address new curriculum requirements and age-appropriate development goals. 14
HUMAN VALUES FOIJNDATION TRUSTEES. ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and Performance conrfnued Staff responsible for children aged 3 to I I were relieved to find how our TB3 and TB5 programmes incrementally nurture social and emotional skills that are protective factors for mental health and foster coping mechanisms for stress and anxiety. For those also detennined to address challenges interfering with children's quality of life, learning and wellbeing. they have been delighted to observe how consistent use of these programmes can be transfonnative, because of how they equip participants with the tools and resources they need to have a voice, regulate their emotions. interact well in different contexts and forni meaningful, enriching relationships. We have yet to identify universities and educational institutions with which we can Work to secure funding for specific research projects into the effectiveness of values- led education in general and our holistic (kvelopment programmes in particular. (3) Safeguard the Foundation's financial stability Ever since the pandemic, it has been a difficult period for the education sector and this has inevitably affected our income. The timing of the £22,000 grant we were awarded from the Education Endowment Foundation, on the strength of the impactful features in TB5. was very fortuitous. The autumn tern) piloting of TB3 proved very successful. Our Programme Developer and Trainer, Sarah Pengelly. is to be ongratulated on what she achieved working intensely for the first six months of our financial year with a team of excellent, skilled consultants. who were strongly driven to ensure our success. We are well positioned to improve our income streams now that we can provide continuity of high quality personal development programmes, starting with pre-school children aged 3 to 5 and cementing thi's with sorely needed staff training and learning materials for ages 5 to I l. We retained, recruited. develoFtd and supported our remarkably dedicated stsff, volunteers and trustees. and are gradually growing our network with others who are eager to advance young Citizens, education experiences. We are immensely grateful to our existing donors and funders and those who have recently contributed to our efforts to be an innovative catalyst for changing education and improving children's prospects, whatever their starting points. Wc necd to continue rebuilding reserves by managing the budget to plan. (4) Monltor progress The Covid-19 crisis and subsequent tough and turbulent conditions slowed down our intentions but we resolved to stick to our strategic direction. We responded to and adjusted our intended activities to remain on track, taking into account new realities as global events, risks. costs. our resources, the tilting towards more purposeful. relevant education and advances in technology went on evolving. Thanks to the generosity of modest supporters and The Allen Charitsble Trnst, in the spring of 2024 we were able to embark on refreshing The Big Think website to include TB3. We look forward to it enhancing visitors, and users. eXrienCeS. INCOME AND EXPENDITURE AND THK BALANCE SHEET Full detsils are set out on Pages 23 to 30. The Statement of Financial Activities records gross income for the year ended 31 March 2024 of £74,397 (2023: £72,382) with resources expended of £75.495 (2023: £95.946) representing a net deficit for the year of £1,098 (2023: deficit of £23.564). 15
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Financial revlew contlnued The Balance Sheet records net assets at 31 March 2024 of £66.156 (2023: £67,255). High quality education starts with high quality educators. The Foundation is proud to have had the opportunity to develop a new. research-infornied programme to support children's rounded development and inspiring training that continues to advance the professionalism of their teachers. While the education sector strives to cope with the aftern]ath of the pandemic along with budget and staffing constraints, we have continued to be resilient and prepare for the move away from the current rigid education system to the re-alignment that is just over the horizon now with different thinking so no child is left behind. We are enonnously grateful for the funding we have received from all our wonderfully generous and loyal supporters and the grantmakers who. together have enabled us to strengthen, develop and expand our core work and support schools, particularly those in deprived regions of England. Income from our programmes, sundry products and training amounted to £15,013 (2023.. £20.163) while product development amounted to £31.170 (2023: £8,685). Principal Funding Sources Our work towards systemic improvements in the education children undergo, with a transfonnative approach to whole-child devclopmenL reinforced by collaboration across the whole school community. has always reflected the passion, expertise and creativity of our small, visionary team and volunteers. However, all this is possible only because of our wonderfully generous Members and Friends and leaders of trusts who have supported us during the year and those who continue to do so. The Human Values Foundation exists, is able to be a beacon of hope and make real and lasting differences thanks to all this generosity. Societal expectations for how pre-school and primary phase children are equipped for their life journeys are rising. The Big Think dialogic. experiential learning programmes support their development by laying foundations for a positive sense of themselves, social skills. respect for others, emotional wellbeing, critical thinking and self-detennination. Anned with essential attitudes, competencies, knowledge and values. TB3 and TB5 participants enjoy their early education experiences. can thrive. fulfil their potential and grow into happy, healthy, inspired citizens capable of making uplifting changes for a better world. Prior to the Fondemic. wc planncd to become a more self-sustaincd charity by adopting a new business model with annual subscriptions for out Ptogrammes. Progress towards achieving this goal has been hampered during the past four years by global events and the ongoing, harsh economic climate. We still need supp)rt from stakeholders and grant-making trusts and foundations so that we can pursue our goals and contribute to the regeneration of educatton that is far more beneficial for both individuals and the functioning of society. Teachers have been telling us about the urgent need for exemplary practices and materials to enable them to cope with the challenges their pupils are presenting that are outside their training and experience. We have been filling this gap with TB3 and TBS workshops and our purposeful lesson packs. bespoke. in-house training and extending teachers, capacity to facilitate the non-Co]ItiVC aspects of children's development. We remain optimistic about gaining financial supwrt that will enable us to achieve OUT longer-tern] objectives. 16
UMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal review condnued Our Supporters Day-to-day work undertaken by Rosemary Dewan as Secretary was unpaid (2023.. £nil). Rosemary has combined this resp)nsibility with her role as CEO since May 2009 and in view of the persistently tough economic conditions and the charity's ambitions. she continues to work in a voluntary capacity. as does our Treasurer, Vijitha Mohan. Investment Powers Under the Memorandum and Articles of Associatio the Foundation has the power to make any investment that the Trustees see fit. Investment Policy Although the charity's outgoings have rnore often than not exceed its incomc, our aim has always been to keep a prudent amount in reserve. This is held in a deposit account. Income from this account was monitored with the average return over thc past year being 3.02 %. Reserves Policy The Trustees acknowledge the importance of building a reserve base. Sufficient reserves are pivotal as a strategic enabler for us to ensure oTationS continue without interruption or hann to the Foundation's products, services and projects. We aim to maintsin a minimum unrestricted base reserve commensurate with core operating capability and risk. The ongoing beleaguered education environment continued to impact our revenues and consequently. the reported free reserves of £15,812 at 31 March 2024 (being the general reserve less investment in intangible fixed assets) are still less than we would wish (2023.. £16,497). We are hugely grateful for funding that enables us to plan for and progress our core, evidence-infonned activities to support broader education aspirations and widen our reach into the crucially formative Early Years Foundation Stage (EYFS). PLANS FOR THE FUTURE Excited by the research-led Education Endowment Foundation impetus since early 2023. we will continue to help educationalists think and act differently to bring about the urgently needed changes to achieve a more relevant, holistic and empowering education for young people. Enlightened, changemaking teachers do not want to waitl They are inspired by our offerings and welcome the pragmatic approaches enabling them to rethink practices for leadership. curriculum content and FKdagogy that together pave the way for their pupils to flourish and shape a better tomorrow. We intend to progress our work on key areas of need for teachers and children and invest in rsonnel to support our growth and ambitions. In line with the 4 Sustainable Development Goal to be functioning by 2030, that of Quality Education, we remain passionate about delivering our charitable activities. pI)STAINA8LE )EVELOPMEtr4T GfiALS 17
UMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 IKARCH 2024 Flnoncial review continued We are greatly encouiaged by how the education landscape is tilting towards our long- standing vision for empowering. whole-child development from the start of young citizens, schooling. With invigorated deterniination to be a solution provider for all children thriving, whatever their social backgrounds and innate abilities. subject to satisfactory fundÈng arrangements. we set these management objectives for the year that started on l April 2024.. (l) Strengthen our business activities Further develop The Big 3 Andme and The Big 5 Programmes so they not only align with the national curriculum for Personal Development in early years and primary schools but exceed expectations. Apply a range of marketing approaches to expand our reach, including fl¢xible pricing plans for small settings. bespoke practitioner training and community values dialogues. involving parents and carers. Continue offering free virtual workshops, sharing expertise and demonstrating the effectiveness of TB3 and TB5 methodologies and how the programme content prepares the emerging generation as changemakers, who will be able to confidently ontribute to shaping a better future personally, locally. nationally and globally. (2) Communicate and collaborate Complete the work to refresh and simplify The Big Think website. clarifying what TB3 and TBS are designed to achieve, enriching the user experience with research- infornied elements and making it a stimulating platfonn for those accessing the multi- media resources. Create training films that model effective implementation of the various features of the programmes thereby building confidence in unfamiliar, innovative practices and widening the geographical scope for upscaling our endeavours. In response to requests from Early Years practitioners, to deepen and reinforce learning. create a set of engaging stories about the qualities and character strengths of the three TB3 characters and how they cope with life's challenges. Maintain. initiate and develop partnerships with others who share our vision and values. Collaborate and engage with educational. school. academy and Early Years leaders and practitioners and other like-minded organisations to help primary schools, reception providers and nurseries to think th'fferently, move the more child- centred education dial forward and gain the understanding and skills that are needed for achieving age-appropriate development goals and instilling protective factors for managing mental health. stress and the plethora of anxieties children are facing. (3) Maintain the Foundation's financial stability Campaign to increase revenues, growing subscriptions for TB3 and TBS and related training sessions and exploring other potential revenue-generating areas. such as parent outreach. supporting schools with their statutory consultation about Relationships. Sex and Health Education (RSHE). Retain, recruit, develop and support skn'lled and confident staff, volunteers and trustees, maintsining and growing opp)rtunities to network with others keen to advance the education experiences of pre-school and primary phase children. Maintain existing donor/funder relationships and develop new ones. particularly in relation to grant support making it feasible for small schools to afford TB3 and TB5 and attracting groups of schools with discounts. such as across a borough or within a multi-academy trust. Continue recovering reserves to an agreed level by managing the budget to plan. 18
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Financlol revlew continued (4) Monitor progress Review our strategic direction throughout the year, taking account of factors affecting the education sector. risks. costs and our resources, the shift taking place of necessity to transfonn and regenerdte education, technological and artificial intelligence (AI) influences, and global events, making timely and appropriate adjustments in resnse to ever-changing realities. Continue assessing and monitoring progress towards achieving our aims and delivering on our strategic priorities. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Documents The Human Values Foundation is a charitable company limited by guarantee. incoOrated on 10 August 1995 and registered as a chan'ty on 21 August 1995. The company was established under a Memorandum of Association and is governcd by its Articles of Association and Rules. In the event of the company being wound up, the liability of its Members is limited to an amount not exceeding £1. Organisational Structure The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known a5 members of the Council of Management. The Council. consisting of from three to six Trustees, has the general control and management of the administration of the Foundation. The Council members are resw)nsible for setting p)licy and agreeing strategy and may regulate their meetings as they think fit. The Trustees meet together three ts'mes a year for the despatch of formal business and take the opportunity after the Annual General Meeting (AGM) to consider with Members. future strategies for the Foundation. During the 202312024 period, Rosemary Dewan (CEO and Secretary) and Vijitha Mohan (Honorary Treasurer), who together managed the day-to-day running of the Foundation, were in attendance at the Council meetings. The Trustees also much appreciate Sheila Evered's contributions as the Honorary Minutes Secretary. Recruitment and Appointment of Trustees Under the requirements of our Articles of Association, one third of the Trustees retires from office each year. A retiring Trustee is eligible for re-election. The Trustees are elected by ordinary resolution of the Members. The Trustees have the power to appoint any person to fill a casual vacancy. Any person so app)inted holds office until the next AGM and is then eligible for re-election. In accordance with the provisions of the Articles of Association and being eligible. Charles Fowler. who retires by rotation. will be standing for election in November 2024. We are enorniously grateful to Erica Terblanche, also due to retire. for her substantial contributions during her 7 years as a Trustee, particularly around the time when we were forniulating strategic plans to launch The Big Think. We are delighted to be retaining our connection with Ms Terblanche as an Ambassador for the Foundation. 19
UMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 Oryanisational strmcthre Continued Trustee Induction and Training On appointment, Trustees are given inforniation tailored to their experience. Literature supplied sets out the context withi'n which the Foundation operates. our products and services. and includes copies of the legal documents. the latest financial statements, minutes of previous Council and general meetings. and the risk register, together with guidance for trustees. During the course of a year. TnteeS receive infornution via the Secretary to enable them to keep abrst of relevant laws, regulations and best practices. Related Parties The only related parties are the Trustees and a summary of transactions with them is set out in Note 14 to the Financial Ststements. Management of Risk During Council meetings. thc Trustees and Senior Management Team consider the major risks to which the charity is expx)s¢d, taking into account external factors. governance, regulatory. financial and operational requirements. For reasons of cost and practicality, the system of internal controls is intended to manage rather than eliminate risks and to give reasonable rather than absolute assurance. The Strategic Plan was refreshed and approved in March 2024. It covers the aims and objectives of the Foundation and is the basis for planning and progress reviews. In readiness for the stsrt of a financial year, we discuss our operating plans and establish a budget. During the year, actual perfonnance is monitored against strategic objectives, the financial results, variance from budget and a number of non-financial perfonnance indicators, to evaluate the achievement of outputs and outcomes. The principal risks idents'fied are uncertainties due to global economic and social factors, reliance on key personnel, financial, and IT failure. We have reviewed our financing and fundraising strategy taking into account future unpredictability, the need for flexibility as we navigate the turbulent environmenL and our resolve to constantly align our products and services with the learning priorities of teachers, young people and other stskeholders. TRUSTEES Trustees, insurance Charity trustee liability insurance is included in thc Foundation's Combined policy. Trnstees, interests As the company is limited by guarantee. no Trustees were interested at any time in any share capital of the Foundation. RESPONSIBILrriES OF THE TRUSTEES The Trustees (who are also the directors of the Human Values Foundation for the purposes of company law) are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). 20
HUMAN VALUES FOUNDATION TRUSTEES, ANNUAL REPORT (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 Organlsational strncture contlnued United Kingdom company and cban'ty law requires the Trustees to prepare for each fiscal year, financial statements that give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its income and expenditure during that period. In preparing these financial statements, the Trustees have: selected suitable accounting policies and applied them consistently. made judgements and estimates that are reasonable and prudent. followed applicable accounting standards and statements of recommended practice without any material departures. prepared the financial statements on the going concern b&sis unless it is inappropriate to presume that the charity will continue in business; and reviewed the major risks to which the Foundation is exposed and satisfied themselves that these are being minimised. The Trustees are responsible for keeping adequate aLxounting records that are sufficient to show and explain the company's transactions and disclose, with reasonable accuracy at any time, the financial position of the charitable company. They must ensure the financial statements comply with the Companies Act 2006 and the Charities Act 2011. The Trustees are also responsible for the system of internal controls, for safeguarding the assets of the Foundation and hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members of the Council of Management The current Trustees are given on Page 9. A new Trustee. to fill a casual vacancy, is appointed by the Boar(L taking into account the mix of skills and gender balance. tions Small com an exem This report has been prepared in accordance with the special provisions of Section 419(2) of the Companics Act 2006 relating to small entities. Approved by the Board and signed on its behalf on 28 September 2024. Ms R C Dewan, Secretary 21
HIIMAN VALITES FOLTNDATIOIN INDEPENDENI. EXAMINER'S REPORT TO THE TRUSTEES OF THE HUNIAN VALUES FOL,.NDATIOIN CHARITABLE CO,%IPA,NY FOR'fHE YEAR ENDED 31 IARCH 2024 I report to the iharity trustees on my examination of the accounts ot the chItable company for the }'e(w ended 31 m1ch ?024 that are set out on PaLTes 23 to 30. Respective responsibilities of trustees and examiner and basis of report The charitable company's Trustees (and also its directors for the purpose of company law) are responsible foi- the prepariltion of the accounts in accordance with thL requirements of the Cumpanie.% Act 2006 ('the 2(X)6 Acl.). Having satisfied myself thal ihe account5 of Ihe company ¢e not required to be audited linder Part 16 of the 2006 Act and are elioible for independenl examindlion, I report in respect of my examination ot" yoiir charity s accounts as carried out under Section 145 ot the Charities Act 2011 ('the 2011 Act,). In ¢<1ng out my examinalion I have followed the Directions iven by the Ch<irity Commissioners undei" Section 145(5)(b) of the 201 l Act. Basis of independent examiner'5 report My exainin(Ition wa% C{rIed out in <iCLordance with the General Directions given by the Chariiy Ci)mmis%ion. An examin(Ition include.s a review of ihe <iCLountinLT records kept by the Lh<iriLable Lompany iind a compari50n of the account% pre%ented 'Ith iho%e record%. It iillo inclLides consider£ltion of any unusual items or disclosiires in the accoiints and the Seeking of expl<ill(Itions from you as Trustees concerning any such matters. The pi'ocediires undertciken do noi provide all the evidence that would be reqiiired in an audit and consequenLly no opinion Is given as to whether the accounls present a 'tiue and fair view. and the report 1% limited to tho4e matier% set out in the statemeni below. Independent examiner's statement I hiiVL completed my examinalion. I confirm ihat no matters have come to my clttention in connection with the exiimination giving me cause io believe: ( l ) accounting record.% were not kept in respect of the company as required by Sectioii 386 ot the 2006 ALt; or (2) the acLounts do not dccord with those accounting record%. or (3) the (iccounts do not comply with the accountino requirements of Section 396 of the 2006 Act other than any requirement that ihe accounts give (I 'true and f(iir' 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 niethods 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 10? ). I have no concerns and have come across no other matters in conneciion with the exaniination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Charlotte R)"an ACA Stew'art & Co Chartered Accountants Knoll House Knoll Road CAMBERLEY Surrey GU15 3SY l October 2024 ?2
HUMAN VALtJES FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (incoo)orating Income and Expenditure account and statement of total recognised gains and losses) FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 Unrestricted funds Totsl 2023 Unrestricted funds Totsl INCOME & EXPENDITURE Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 18,220 15.013 40.000 1,164 34,501 20,163 17,050 668 Total income and endowments 74.397 72,382 Expenditure on: Raising funds Charitable activities Other (1.081) (61,252) (13,162) (1.324) (64,233) (30,389) Totsl expenditure 75,495 Net (expenditure) l income (1,098) (23,564) Iyet movement in funds Reconciliation of funds: Total funds brought forward at l April 67.254 90.818 Total funds carried forward at 31 Marcb 13 The statement of financial activities includes all gains and losses in the year. All incoming resources and resources exFtnded derive from continuing activities. The notes on Pages 26 to 30 forn] part of these financial statements.
HUMAN VALUES FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 FIXED ASSETS Intsngible fixed assets TOTAL FIXED ASSETS 18,439 18,439 22.754 CURRENT ASSETS Stocks Debtors Cash and short-tenn deposits 3,500 1,240 47.991 1,805 3.003 57,580 TOTAL CURRENT ASSETS 52.731 62.388 CURRENT LIABILITIES Creditors.. amounts due within l year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 70,835 75,945 Creditors.. amounts falling due after more than l year Y4ET ASSETS 10 (4.679) (8,691) FUNDS Unrestricted Income Funds: General funds Designated funds Total Unrestricted Income Funds: 12 12 38,566 34,936 66,156 67,254 GENERAL FUNDS 13 24
HUMAN VALUES FOUNDATION BALANCE SHEET (co1ned) AS AT 31 MARCH 2024 Trustees, ststements required by Sections 475(2) and (3) for the year ended 31 March 2024 In approving these financial statements as Trustees of the company. we hereby confinn". (a) that for the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006. (b) that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the y&qr ended 31 March 2024. (c) that w¢ acknowledge our responsibilities for: { l ) ensuring that the company keeps accounting records which comply with Section (2) preparing financial statements which give a true and fair view of the stste of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions of Section 419(2) of the Companies Act 2006 relating to sma]I companies and in accordance with the FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The financial ststements were approved and authorised for issue by the Board on 28 September 2024 and signed on its behalf by C A Fowler Cbair of the Board of Trustees Registration number: 3089834 25
HUMAN VALUES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l Aecountin Policies (Yd) Basis of preparation The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practs'ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Company status The Foundation is a company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The address of the registered otTice is The Coach House. Salisbury Road, Horsham. West Sussex RH13 OAJ. The members of the company are the Trustees named on Page 9. In the event of the Foundation being wound up, the liability in respect of the guarantee is limited to up to £1 per member of the company. (c) Fund accounting General funds are unrestricted funds. which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purp)ses. The aim and use of the designated funds are set out in Note 12 to the financial statements. Investment income is allocated to the funds in which the assets are a part. (d) Income and endowments All income and endowments are included in the Statement Of Financial Activities (SOFA) when the Foundation is legally entitled to the income and the amount can be quantified with reasonable arxuracy. Donations are recognised when received and. unless donated for a specific purpose, are treated as contributions to the General Fund. Life subscriptions are taken to income over a period of 20 years. No amounts are included in the financial statements for services donated by volunteers. Income from assets comprises interest income on cash deposits and is included gross. (e) Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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 the resources. Expenditure on raising funds comprises costs incurred in seeking voluntary contributions and does not include the costs of disseminating inforniation in supwrt of the charitable activities. ExpKnditure on charitable activities comprises the costs of all resources. including support costs. applied in undertaking work to meet the objectives of the charity and governance costs incurred in connection with the administration of the Foundation and in compliance with constitutional and statutory requirements. As the Foundation is not registcred for VAT. wh¢rc it is incue(L the costs are recorded gross. 26
HUMAN VALUES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l Accountin Policies continued (fj Intangible red assets and amortisation Product and website development costs are initially recognised at cost. Subsequent to initial recognition. intangible assets are recognised at cost less accumulated amortisation. Arnortisation is calculated on a straight-line basis over the estimated useful life as follows: Product and website (kvelopment - straight line over 4 years. (g) Stoek Stock consists of purchased goods for resale. Stocks are valued at the lower of cost and n¢t realisable value. Cost is computed on a first in, first out basis. Net realisable value is based on an estimated selling price less the estimated cost of disposal. (h) Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Income and Expenditure account. (i) Financial instruments The Foundation has financial assets and liabilities only of a kind that qualify as basic financial instruments. Such instruments are initially recognised at transaction values and subsequently measured at their settlements value. (i) Creditors and provisions Creditors and provisions are recognised where the Foundation has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nonnally recognised at their settlement amount after allowing for any trade discounts due. (k) Government grants Grants are accounted for under the accruals model as nllItted by FRS 102. Grants of a revenue natwe are recognised in "other income" within surplus or deficit in the same period as the related expenditure. This includes the Government Bounce Back Loan scheme. The Foundation has not directly benefited from any other forms of government assistance. 2 Staff numbers The average number of persons employed by the charity (including directors) during the period, was O (2023.. 0). 27
HUMAN VALUES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 3 Income and Endowments from: 2024 2023 Income from donations and legacieg: Donations & gifts Membership subscriptions Income from charitable activities: Sale of goods Income from other trading activities: Raising funds Income from investments: 17,429 791 33.561 940 15.013 20,163 40.000 1.164 17,050 668 Total Income and Endowments 74,397 4 Ex enditure on: 2024 2023 Expenditure on Raising funds 24 Expenditure on Charitable activities Cost of goods sold Exhibitions. Functions & Workshops Publicity materials Recruiknent & training TB3+ME Product development costs TB5 Product development costs Travel. accommodation and subsistence Telephone, postage and supplies Premises and facilities Promoter's fees Consultancy fees Stock written off Governance costs Athninistration and management Independent cxamination fees Expenditure on Charitable activities sUltotal (3.231) (2,225) (5,162) (944) (27,000) (4.170) (295) (407) (276) (2,864) (11.999) (215) (961) (7,990) (23,110) (998) (8,685) (123) (436) (276) (6,990) (12.186) (258) (1,864) 600 61,252 (1.650) 570 64,233 Other expenditure Fixed assets amortisation Bank interest paid Other expenditure SUltotal (12,890) 272 13,162 (30.017) 372 30,389 Total Expenditure 75,495 95,946 28
HUMAN VALUES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (COlnUed) FOR THE YEAR ENDED 31 MARCH 2024 Intan ible Fixed A&sets 2024 Product Development 2024 Website Upgrade 2024 TOTAL Used for ebaritsble purposes Cost Cost brought forward Additions Cost carried forward 110.320 9.787 120,107 17,205 137312 125 555 Amortisation Amortisation brought forward Amortisation charge for the year Amortisation carried forward (95.143) (6,525) 2.447 8,972 (101.668) 105 586 114558 Net book value at 31 March 2024 Net book value at 31 March 2023 2,785 3,262 Stocks 2024 2023 At l April Additions Cost of Sales At31 March 1.805 5,135 3,440 2,207 Debtors 2024 2023 Trade debtors Other debtors Prepayments 284 110 846 1,768 108 3,003 Cash And Short-term Deposits 2024 2023 Deposit accounts Current account 47.852 139 47,991 57,345 235 57,580 Credito amounts falling due within l year Accruals: Trading Other External examination fees Covid-19 Bounce Back Loan 2024 2023 (237) {75) (570) 4.000 4,882 (50) (600) 4,650 29
HUMAN VALUES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 10 Creditors amounts falling due after more than l year Life subscriptions Covid-19 Bounce Back Loan 2024 2023 (12) 4.667 4,679 (24) 8,691 11 ADal sis Of Iyet Assets Between Funds Net current Creditors due after more than l year Total net Assets Fixed assets assets Unrestricted funds 4,679 66,156 12 Unrestricted Funds At l April 2023 Income Expenditure At 31 March 2024 General reserve Designated funds Total unrestricted funds 34,936 33,796 (30,166) 38,566 74 96 The General reserve represents the free funds of the Foundation that are not designated for particular purposes. Designated funds comprise anonymous gifts and other donations. assigned by the Trustees to identified projects and purposes, reflecting the intentions of the donors. 13 Reconciliation Of Movement In Funds 2024 2023 Funds at l April Gross income Total expenditure Funds at 31 March 67.254 74.396 75.494 90,818 72.382 14 Related Part Transactions ExFtnses reimbursed to Trustees for their services amounted to £nil (2023: £nil). Directors and OtTicers insuranr£ was included in the Combined policy. 30