Charity registralion number 1051622 (England and Wales) Company registration number 031419606 THE ISBOURNE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Isbourne
THE ISBOURNE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M R Ratcliffe MBE Mrs P R Ratclrffe Mrs J S Hill Charlty number (England and Wales) 1051622 Company number 031419606 Ré9lStered office Wolseley House Oriel Road Cheltenham Gloucestershire United Kingdom GL50 1TH Independent examlner BK Plus Limited 6 Manor Paik Business Centre Mackenzie Way Cheltenham Gloucestershire England GL519TX Bankers Lloyds Bank plc 130 High Street Cheltenham Glouceslershire England GL50 1EW Sollcitors Ilans 28 Imperial Square Chellenham Gloucestershi GL50 1RH
THE ISBOURNE FOUNDATION CONTENTS Page Trustees, report Slalement of trusle8s' responsibilities Independent examinels report Statement of financial activities Statement of financial position 10 Notes to the financial statements
THE ISBOURNE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MA Y2024 The trustees presenl their annual report and financial slatemenls for the year ended 31 May 2024. The financial statements have been prepared in accordan wilh 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 IFRS 102) Objectives and activities Objectlves and aims The objects of the charity are to enable individuals to increase their knowledge through a range of evidence-based activities in developing their self-awareness, resilience and wellbeing in harmony with natural and spiritual laws. Slgn6fi¢ant activitios The Isbourne offers a diverse range of services. including talks, workshops, and both accredited and non-accrediled courses. In addition, we deliver a comprehensive Outreach programme, which is offered both in-house and at exteinal venues ta reach communities in areas of deprivation. Our Workplace Wellbeing branch, formerly known as Services for Business, continues lo grow, both providing a broad range of holistic wellbeing subjects. Publlc b•n•fit The trustees continued to follow the Charity Commission's guidance on public benefit when planning the year's activities. This is outlined above under 'objective8 and aims, and b8low under'achievement and performance,. Achlevements and performance The Trustees are proud to report a successful year for The Isbourne, with key achievements and milestones accomplished, reinforcing its posilion as a leading wellbeing hub in Glouceslershire. The Charity's commitment lo improving the mental, physical, and spiritual wellbeing of individuals in the county and further afield has slrenglhened its impact in the communily and beyond. The Isbourne has not only provided essenlial wellbeing support but also expanded its reach, fostering resilience and positive change to a wide variety of individuals and groups. Str•ngthenlng Core Fa¢illtl•8 Restoring Activity Levels.. The Isbourne has successfully re-eslablished its in-house offerings, providing a comprehensive range of courses, workshops, and classes tailored to a variety of wellbeing needs. Enhanced Virtual Presence.. In recognition of the increasing demand for flexible access, our virtual offerings have been continued, enabling individuals who face geographical or health barriers to continue benefiting from our services remotely. Expandlng Communlty Outreach Community Wellbeing Pmgramn7e (CWP).. Our Community Wellbeing Programme has during the year seen a significant increase in participalion. In providing free or low-cost courses. we have been able lo address key issues such as anxiety, depression, trauma. and social isolation. helping people who otheiSe would have been unable to access these helpful facilities. The programs are shaped by valuable participant feedback and collaboration with community partners 5uGh as Social Prescribers, Primary Care Network5. Local Authorilies and other charities, who focus on the wellbeing sector. Community Outreach Successes: We partnered with Cheltenham Borough Homes and other local community hubs to deliver tailored wellbeing sessions. We piloled a successful programme designated "Mindful Movement for Cogntiive Health. with plans for expansion in 2025. We continued our successful outreach work with Cheltenham Open Door and other local grassroots organisalions, ensuring support for vulnerable groups of people.
THE ISBOURNE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 Posltlve Impact of Wellbelng Inltlatlves on the Communlty The wellbeing programmes offered have significantly enriched the lives of parlicipants and so contributed to a stronger, healthier community. These inilialives have empowered individuals, with practical tools and strategies to improve their mental, emotional. physical and social wellbeing, foslering lasting positive change. Some key outcomes include-. Enhanced Personal Wellbeing and Skills Development.. Participants have reported learning practical strategies which have had a tangible and positive impact on their daily lives. Slrenglhened Communily Connections.. The courses have fostered meaningful relationships amongst participants, cr8aling an inclusive and supportive environment where connections thrive. High Levels of Satlsfaclion and Engagement.. Feedback consistently showed strong satisfaction, with participants appreciating the engaging content, approachable facilitation, and interactive activities. Gonstruclive PartlClP3nl Contributions.. The program's open approach has encouraged valuable feedback and suggestions, contributing to ongoing improvemenl for future initialives. Holistic ImpaGt aGross Diverse Groups.. The courses have been accessible to participants from a variely of backgrounds, showcasing versatility and inclusivity. P8rticipant Refjeclions. Attendees have shared how Ihe ¢OUTses have positively influenced their lives, helping them to feel more connected, capable, and optimistic about their wellbeing journey. Innovation In Programming and Accossiblllty Accredited Learning Expansion." The Isbourne's courses have received 'Quality Endorsement, from 'AIM Qualifications,, undersccring the commitment to high teaching and learning standard5. Flexible Pricing Model,, The tiered pricing structure ensures that Ihe courses are financially accessible. Generous supporters have contributed lo Ihe sponsored rate, enabling the charity to extend these services to those in need. Enhanced Course Design.. In response to feedback, key adjuslments have been made to improve course accessibility, such as simplifying the "Flowing Movement for Mind and Body Tai Chi for Dementia course, inlo the more accessible"Gentle Movements for Cognilive Heallh." Communlty and Oryanlsatlonal Collaborations SfralegiG Partnerships.. The Isbourne's impactful collaborations with organisations such as Cheltenham Borough Council, VCS Alliance and the NHS has been instfumental in delivering wellbeing inilialives and resources to wider audiences. tlvorkplace Wellbeing. We hosted wellbeing sessions for local businesses and organisations. including a Wellbeing Retreat for the VCS Alliance. Additionally. we continue to provide tailored support to organisations such a5 the RAF Widows Association. Promoting Holistic Learniny and Resillence Comprehensive Wellbeing Topics.. Courses cover a wide array of essential wellbeing topics, such as Mind-set & Positive Change, Bereavement Support, Qigong, and Positive Tapping. empowering individuals into making lasting, positive Changes in their lives. Nelworking and Professional Development.. The Isboume hosted a successful networking event for lutors and ther8pisls, which led to further training opportunities on digilal tools and marketing stralegies, improving ov8rall delivery.
THE ISBOURNE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 Digltal Tools for Wider Reach Online Resources., The online resources, including videos. podcasts, YouTube tutorials, and webinars, have proved to be a vital too1 in supporting the community- and these resources are playing a crucial role in broadening the charity's outreach work. Measurlng Impact Significant Clienl Outcomes.. Evaluations have shown that 980 of participants felt empowered to make positive changes in their lives after engaging with The Isbourne's services. reslimonials Reffecl Success.. Feedback from participants consistently highlights profound transformations, such as overcoming anxiety and improving sleep patterns after long-standing challenges. In conclusion, The Isbourne's wellbeing programmes are making a profound and lasting impact on individuals, families and communities across Gloucestershire and farther afield. By offering innovative wellbeing education and fostering meaningful connections, the charity continues to support the mental, emotional, and physical wellbeing ol ils participants. The Trustees extend their sincere gratitude to all those involved in delivefing these programs and who continue to support the charity's ongoing mission in fostering resilience, connection, and p051tive change. Financlal rovi•w Investment policy and and objectives Due lo the relatively low level of funds available for investment the Irust8es consider that bank deposits provide a salisfactory return lo the charity. Reserves poIIcy The trustees annually review the reserves policy. bearing in mind the current and anticipated financial performance and needs of the charity. The Iruslees, aim has consistently been lo hold sufficient unrestricted funds to cover two months charitable expenditure in the event thal ther8 was a material reduction in income. Following a challenging year lo 31 May 2023, unrestricted reseNes have improved in the year to 31 May 2024 but not yet to a position where they have sufficient accumulated restricted funds to cover months of charitable expenditure in accordance with the staled reserves policy. Accumulated unrestricted funds remain in deficit at 31 May 2024. although to a much lower extent than twelve months previously. The Trustees continue lo seek ways lo improve the financial performance of the charity as is demonstrated in Future Plans noted below. At the same time the Iru51ees continue to rely on the Bounce Back Loan that wa5 raised in a previous financi81 year to assist in the management of cash flow requirements. The trustees will continue lo work hard towards achieving reserves in accordance with their target policy, accepting that short term challenges wi51 be inevit8ble bul will be overcome by careful management of the charity to provide a sustainable future. Future Plans Looking forward, the charily is committed to expanding its offerings to meet the growing needs of its communitie5, and in doing so, building on the successes of the past year, we aim lo further develop our services, reach new audiences, and conlinue fostering wellbeing across Gloucestershire and beyond. Expansion of the Core Wellb?Ing Offer We will continue to broaden the scope of our in-house and virtual courses to ensure accessibility for all. Plans include.. Increasing Course Variely. We aim to inlroduce new wellbeing programs. particularly in areas like stress management, youth mental health, and workplace wellbeing, to cater to a wider demographic. Enhancing Virtts81 Delivery.- Wilh the growing demand for digital content, we will expand our virtual offerings to reach individuals who are unable to attend in person, ensufing our services remain accessible lo all. regardless of location or health constraints.
THE ISBOURNE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 Deepenlng Communlty Engagement We recognise the power of community partnerships in fostering wellbeing, and we will continue lo develop and expand these collaborations.. Building Slmnger Partnerships.. Our goal is to forge deeper connections with local organisalions, including healthcare providers and community hubs. to deliver tailored wellbeing initiatives which address specific local needs. Expansion of the Community Wellbeing Programme (GWP)." We plan to increase participation in our CWP, targeting additional groups such as refugees, carers, and those al risk of mental health issues. We aim to reach even more vulnerable populations Ihrough both in-peison and online courses. Innovatlng and Improvlng Accessibility We are committed to ensuring ihat all individuals are abse to access our seNices, regardless of their circumstances.. Innovsling Course Design.. We will continue to refine and adapt course content to belter serve those with additional needs, including people with cognitive impairments or learning disabilities. ensuring that our course5 remain inclusive and accessible. Ti8r8d Pricing.. We will expand our financial accessibility efforts by offering more wellbeing sessions, maklng our wellbelng servlces available to those who might Otheise face financial barriers. Expandlng Dlgltal Resources In response to the growing digital engagement and the desire for flexible learning options, we wlll.. Increase Digital Content.. We plan to further develop our online resources, including podcasts, webinars, and YouTube tutorials. ensuring that individuals can engage wilh wellbeing conlent at their own pace. Launch New Digit81 Progrsms.- In addition to our existing offerings, we aim to create new, interactive digital courses and resources which can be acce55ed globally, amplifying our impact and supporting wider audiences. strengthenlng Professional D•v•lopmont To ensure that we maintain the highest standards of provision and reach more individuals, we will focus on supporting our professional affiliate members.. Training and D8velopment.' We will continue to offer training and networking opportunlties to our tutors and Iherapists. with a particular focus on digilal skills, wellbeing trends, and our Community Wellbeing Programme. Endorsement and Recognition.. We plan to Quality Mark more courses to enhance their credibility and recognition, ensuring that participants receive high-quality, trusted wellbeing education. Sustalnable Growth and Flnanclal Stability As we continue to grow and expand our seNices, we will also focus on ensuring Ihe charity's long-term sustainability,, Fundraising and GranlApplications.- We will slrengthen our fundraising initiatives and continue to apply for grants that support mental health and communily wellbeing, enabling us to further expand our program5 and reach more people. Sponsorslpip and Corporate Partnerships.. We will explore sponsorship and corporate partnership opportunities to fund key inilialives, ensuring ihat we can deliver high-impact facilities while remaining financially stable. Conclusion The Isbourne's future is one of growth, innovation, and a continued commitment to communily wellbeing. With a focus on expanding our core wellbeing offei, enhancing accessibilily, and forging stronger partnerships. we are excited about the opportunity to positively impact even more lives in the years lo come. The Trustees look forward to guiding Ihe charity through this exciting phase of development, ensuring that The Isbourne continues to be a 'Beacon of Light, supporting. educaling and empowering all who wtsh lo improve their personal wellbeing, wherever they may live.
THE ISBOURNE FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 structurey governance and management The charity is incorporated as a company limited by guaianlee and therefore it has no share capital. 11 is governed by its Memorandum and Articles of Associalion dated 21 December 1995. In the event of the company being wound up and the liabilities and winding up expenses being in excess of assets. the liability of each member is limited lo £1. Recruitment and appolntment of trustees The power lo appoint new Iruslees is vested iii sutviving and continuing trustees. Organisational structure The charity is controlled by a Board of Iruslees which meets on a regular basis. Names of the trustees and advisers to the charity are shown on page 1 of these financial stalements. Related parties The charity has a subsidiary company, The Isbourne College Lld (company number 8340086), whlch was formed to produce profits that il donated to the charity. The subsidiary was active for two years from 1 June 2014 to 31 May 2016. Wilh effect from 1 June 2016 the subsidiary ceased lo operate as a separate entity and transferred all of ils a¢livilies and assets to this charity. Details of other related party transactions are shown in note 21 to the financial statements. Rlsk management The Iruslees have a duty to idenlify and review the risks lo which the charity is exposed and lo ensure appropriate controls ar8 in pl8C81o provide reasonab18 assurance against fraud and error. The trust es, report was approved by Ihe Board of Trustees. Mr M R Ratcliffe Trustee BE 26 February 2025
THE ISBOURNE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MA Y2024 The trustees, who are also the directors of The Isbourne Foundation for the purpose 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 which give a true and fair view of the stale of affairs of the charity and of the incoming resources and applicalion of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial Statements. the Iruslees are required to= select suitable accounting policies and then apply them consist8nlly; observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent.. and prepare the financial statements on the going concern basis unless it is inappropriate to presume Ihal the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial posilion of the charity and enable them to ensure that the financial statemen ts 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.
THE ISBOURNE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ISBOURNE FOUNDATION I report to the trustees on my examination of Ihe financial stalemenls of The Isbourne Foundation {the charity) for the year ended 31 May 2024. Responsibilities and basis of report As the trustees of Ihe charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having salisfied myself that Ihe financial statements of the charity are nol required to be audited under Part 16 01 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 Charilies 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. Independent examlner's statement Since the charity's gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011 . 1 confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. As is more fully explained in the notes to the financial statements under the heading of 'Basis of preparing the financial stalemenls, on page 11. the charity has suffered a significant adverse financial impact from the ongoing impact of the covid-19 pandemic. the public's subsequent attitude to traditional charitable giving and a growing reluctance amongst Local Authorities and other grant givers to contribule towards a charity's core running costs. The impacl saw a fall in Ihe charity's turnover during the year to 31 May 2023. However, an increase in income in the year to 31 May 2024 has seen the chaiily return to reporting a surplus for the period, although Ih8r8 remained a deficit on unrestricted funds of £8,208 al the year-end, In the aforementioned note lo the financial statements, the Iruslees have outlined the sleps that they have taken lo enable the charity to continue to operate and lo relurn unrestricted funds to surplus on a regular basis. They also refer in the same note to the ongoing challenges that the charity faces in continuing to cover core costs and lo provide funding lor charitable activilies, the trustees conclude that they will succeed in their efforts and Ihal the going concern basis of accounting Iherefore remains appropriate for these financial statements. I draw attention to the note on page 11 regarding these matters and to the concerns that the trustees have expressed regarding the ongoing challenges Ihat they face as a result of the uncertainties oullined above and the potential effect of those uncertainties on the charity's ability to continue as a going concern. I confirm that no matters have come to my allention in connection with the examination giving me cause lo believe that in any material respect.. accoLtnting records were nol 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 fequiremenls of section 396 of the Companies Act 2006 other than any requirement that the financial slatements give a true and fair view, which is not a matter considered as part of an independenl 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 appllcable to charities preparing their financial statements in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm Ihat there are no other matters in connection with the examination to which altention should be drawn in this report in order lo enable a proper understanding ofthe financial statemenls to be reached. g)
THE ISBOURNE FOUNDATION INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ISBOURNE FOUNDATION Roger F Downes FCA BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL519TX England 26 February 2025
THE ISBOURNE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y2024 Unrgstrl¢tgd Rèstrict•d funds funds 2024 Total Unrestrlcted Restrlcted funds fundB 2023 Tolal 2024 2024 2023 2023 Notes Income and endowments from: Donations and legacies 161,455 Charitable activities 29,669 Other trading activities 1,475 Other income 84,117 7.SOO 168,955 29,669 13,573 84,117 141,431 28,823 1.185 55,540 11,580 153,011 28,823 2,397 55,540 12,098 1,212 Total income 276,716 19,598 296.314 226,979 12,792 239,771 Expondlture on: Raising funds Charitable aclivili8S 25 251,462 25 257.679 271,452 19,488 290,940 6,217 Total expendStur• 271,452 19,488 290,940 251,487 6,217 257,704 Not incomel{oxpendltur¢) 5,264 110 5.374 (24.508) 6,575 (17,9331 Transfers between funds 4,031 (4,031) (1,3741 1,374 Net movement In funds 9,295 (3,921) 5.374 (25,8821 7,949 (17,9331 Reconciliation of funds: Fund balances at 1 June 2023 (17,503> 8,344 (9.159) 8,379 395 8,774 Fund balances at 31 May 2024 (8,208) 4,423 (3,785) (17,503) 8,344 (9,1591
THE ISBOURNE FOUNDATION STATEMENT OF FINANCIAL POSITION ASAT31 MAY2024 2024 2023 Notes Fixed assets Intangible as5els Tangible assets Investments 12 13 14 15,480 594 18,959 498 16,075 19,458 Current assets Debtors Cash at bank and in hand 11,969 14.671 12,790 9,214 26,640 22,004 Credltors: amounts falllng due within one year 17 (21,278) {20,356) Net eurront assets 5,362 1,648 Total assets less current Ilabilitles 21,437 21,106 Cyedltors: amounts falllng due after mor• than one year 18 (25,222) 130,2651 Net Ilabilities (3,78S} (9,159) The funds of the charlty Restricted income funds Unrestricted funds 19 20 4,423 (8,208) 8,344 (17,503) (3,785) 19,1 $91 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2024. The directors acknowledge their responsibilities for complying with the requirements of th& Companies Act 2006 with respect lo accounting Tecords and the preparation of financial slalements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 478. These financial statements have been prepared in accordance with the provisions applicable to compani8s subject lo the small companies regime. The fin cial statements were approved by the trustees on 26 February 2025 Mr M R Ralcliffe M8E Trustee Company registration number 031419606 (England and Wales) 10-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y2024 Accounting pollcles Charlty Information The Isbourne Foundation is a private company limite(J by guarantee incorporated in England and Wales. The registered offsce is Wolseley House, Oriel Road, Cheltenham, Gloucestershire. GL50 1TH, United Kingdom. 1.1 Accountlng convention The financial stalements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporling Standard applicable in the UK and Republic ol Ireland" and the Charities SORP "Accounling and Reporting by Chaflties,. 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. Monelary amounts in Ihese financial slat8ments are rounded to the nearest £. The financial statements have been prepared under the hislorical cost convention, modified to include the revaluation of freehold properties end lo include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for Ihe foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the finanaal statements. The charity has posted a surplus on ordinary activities, net of transfers, of £9,295 for the year to 31 May 2024, although it still had a deficit of £8,208 on unrestricted funds at the year-end. The trustees recognise that the charily has been in a challenging financial position since the outbreak of covid-19 and that it continues lo be challenged as a result of the longer-term uncertainties created by th8 pandemic, the public's atlilude to charitable giving" in difficult financial and economic times, together with a growing reluctance on the part of Local Authorities and other grant givers lo contribute towards core running costs. The trustees have considered the likely cash flow requirements of the charity for the forese8able future and are confident of generating sufficient working capital funding by way of donations and grants lo enable il to meet core costs. SeNices will be delivered to clients only where it is apparent that adequate directly-relaled funding can be generated. Whilst this is clearly a disappointment lo the trustees, who remain very keen lo see a return lo previous levels of service provision. it is deemed to be prudent in the present econ omic climate and in the current financial circumslances of the charity. As a result of the considerations noted above, the trustees are confident that the charity will be able to continue to operate as a going concem and have prepared these financial statements on that basis. 11
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 Accountlng policies (Contlnued) 1.3 Charitable funds 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. Further explanation of the nalure and purpose of each fund is included in the notes to the Financial statements. 1.4 Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probable that the income will be received and the amount can be measured reliably. Rents and seNice charge income are recognised in the period lo which they relate on an accruals basis. Donations, trading and investment income are recognised on receipt. Grant income is recognised on receipt unless there is a future obligation lo deliver services against that income, in which case il is r8cognised when those servic8s are delivered. 1.5 Expendlturo Liabilities are recognised as expenditure as soon as there is a legal OT constructive obligation committing Ihe charity to that expenditure, it is probable that a transfer of economic benefits will be required in selllement and the amount of the obligation can be measured reliably. Expenditure is accounled for on an accruals bashs and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocaled to activities on a basis consistent with the use of resources. 1.6 Intangible fixed assets Website development costs are ¢apilalised at cost and amortised on a Siraight line basis over their estimated useful economic life, which is currently considered by the trustees to be ten years. 1.7 Tanglblo flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings 200k on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.8 Taxation The charity is exempl from corporation lax on ils charitable activities. It is not, however, exempt from VAT and irrecoverable VAT 15 included in the cost of these items to which it relates. 12-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Income from donations and legacies Unrestrlcted Restrlcted Total Unrèstrictèd Rg¥trlcted lunds funds 2023 2023 Total funds funds 2024 2024 2024 2023 Donations - individual, business and other chaTilable organisations Grants 158,955 2,500 7,500 166,455 2,500 141,431 11,580 153,011 161,455 7,500 168.955 141,431 11,580 153,011 Incoma from charltable actlvlti•s Unrestrlcted funds 2024 Unrestrlctod funds 2023 Course fees 29.669 28,823 Income from other trading activitles Unrestrlcted R•strlcted lunds funds 2024 2024 Total Unrestrlcted Restrlct•d Total lunds 2023 funds 2024 2023 2023 Advertising income Outreach income Shop income 1,226 1,226 12,098 249 1,017 1,017 1,212 168 12,098 1,212 249 168 Other tr8ding activities 1,475 12,098 13,573 1,185 1,212 2,397 Other income Unr•sCrl¢ted Unr•$tri¢ted funds funds 2024 2023 Other income Room hire Therapy income 6.058 40 78,019 4,377 916 50,247 84,117 55,540 13-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 34 MA Y2024 Expendlture on raising funds Unrestrlcted Unrestrlcted funds fund5 2024 2023 Fundraising Guest speakers 25 Expondituro on charitable activities Total 2024 Total 2023 Dir•¢t costs Staff costs Depreciation and impairment Rates and wat8T Insurance Light and heat Telephone Postage and stationery Advertislng Sundries Course programmes and newsletters Rent Maintenance Professional fees Travel and subsistence Bank charges Office refreshments Oulieach costs 100,954 3,599 8,813 512 16,072 129 743 7,284 1,895 87 84,520 6,875 27,815 1,297 2,460 1,050 24,926 101,988 3,693 6,534 150 6,847 340 234 5,174 3,065 8,545 84,520 4,922 19,506 193 2,542 725 6,786 289,031 255,744 Share of support and governance costs (see note 8) Governance 1,909 1,935 290,940 257,679 Analysls by fund Unrestricted funds Restricted funds 271,452 19,488 251,462 6,217 290,940 257,679 14-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 Support costs allocated to activities 2024 2023 Governance costs 1.909 1,935 Analysed between: Accountancy and legal fees 1,909 1,935 Net movgmont In funds 2024 2023 The nel movement in funds is slated after chargingl(crediting): Depreciation of owned tangible fixed assets Amortisation of intangible assets 120 3,479 214 3,479 10 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 11 Employèes The average monthly number of employees during the year was.. 2024 Number 2023 Numbor There were no employees whose annual remuneration was more than £60,000. 12 Intangible flxed assets Development cost9 Cost At 1 June 2023 and 31 May 2024 34,790 Amortisation and impairment At 1 June 2023 Amortisation charged for the year 15,831 3,479 At 31 May 2024 19,310 Carrying amount Al 31 May 2024 15,480 At 31 May 2023 18,959 15-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 MA Y2024 13 Tangible fixed assets Fixturès and fltlings Cost At 1 June 2023 Additions 13,160 216 At 31 May 2024 13,376 Depreclation and Impalrment At 1 June 2023 Depreciation charged in the year 12,662 120 At 31 May 2024 12,782 Carrylng amount Al 31 May 2024 594 Al 31 May 2023 498 14 Flxed asset Investments other Investmonts Cost or valuation Al 1 June 2023 & 31 May 2024 Carrying amount At 31 May 2024 Al 31 May 2023 The fixed assel investment of £1 represenls Ihe charily's ownership of the whole of the issued share capital of Isbourne College Lt(I, a dormant subsidiary company. 2024 2023 Olher investments comprise.. Investments in subsidiaries 16-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 15 Debtors 2024 2023 Amounts falling due within one year: other deblors Prepayments and accrued income 2,026 9,943 2,782 10,008 11,969 12,790 16 Loans and ovardrafts 2024 2023 Bank loans 30,282 35,305 Payable within one year Payable after one year 5,040 25,222 5,040 30,265 17 Creditors: amounts falllng due within ono year 2024 2023 Notes 8ank loans Other laxation and social security Trade creditors Other creditors Accruals and deferred income 16 5,040 503 11,108 5.040 436 10,999 107 3,774 4,627 21,278 20,356 18 Creditors: amounts falllng duo after more than one year 2024 2023 Notes Bank loans 16 25,222 30,265 17-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 19 Restrlcted funds The restricted funds of the charity comprise Ihe unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 June 2023 Incoming Resources resources expended Transfers At 31 May 2024 Outreach Fund Thriving Communities Fund Active Gloucestershire Fund 12,098 7,500 (13,306) (4,932) (1,250) 1.208 (4,5401 (6991 8,395 1,949 4,423 8,344 19,598 (19,488) (4,0311 4,423 Prevlous y•ar: At 1 June Incoming Resources 2022 resources expended Transfers At 31 May 2023 Outreach Fund Thriving Communities Fund Active Gloucestershire Fund 395 1,212 7,500 4,080 (2,981) 11,105) (2.131> 1,374 6,395 1,949 395 12.792 16,217) 1,374 8,344 Purpose of restrlcted funds Outreach Fund To expand The Isbourne's mental health wellbeing services for vulnerable people in the community. Thriving Communltios Fund To support communities in Gloucestershire in delivering projects which help people (including carers) to stat well and to live independently for as long as possible. Actlve Glouc8st•rshlre Fund To support vulnerable and disadvantaged members of the community and improve their wellbeing through movement based courses. Transfers between funds Transfers are made belween restricted and unrestricted funds al the end of every accounting period in cases where.. 1) the activity of the restricted fund has Come to an end and there is an unspent balance that is nol repayable to the funder(s), when any surplus 15 transfeired to unrestricted funds,. or 2) the reslricted fund has come lo an end and there is no prospect of a surplus in a later period, when the deficit is eliminated by transfer from unrestricted funds. 18-
THE ISBOURNE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y2024 20 Unrestricted funds The unrestricted funds of the charily 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 Iruslees for specific purposes. At 1 June Incoming Resources 2023 resources expended Transfers At 31 May 2024 General funds (17,503) 276,716 (271,452) 4.031 {8,208) Prevlous yoar: At 1 June Ineomlng Resources 2022 resources •xpgnded Transfers At 31 May 2023 General funds 8,379 226,979 (251,487) (1,374) {17,503) 21 Related party transactlons Tho Ratcllff• Foundatlon Related by reason of some common trustees During the year the related party made donations lo The Isbourne Foundation on an arms, length basis. M R Ratcllffe Consultant6 Llmlted Related by reason of a common director Durlng the year the related party made donations to The Isboume Foundation on an arms, length basis. The related party charged expenses on an arms lenglh basis to The Isbourne Foundation. At the year-end the related party was owed £1.60712023'. £22) by the charity. Joanna Sarah Hlll Trustee During the year The Isbourne Foundation paid the related party £10,000 (2023.. £nil) for consultancy work on an arms length basis. 22 Contingent Ilabllitles Various funders retain the right to claw back grants should the use of the funds not be in accordance with the terms of the grant. In the opinion of the trustees no such liabilily exists al the year end. 19-