COMPANY REGISTRATION NUMBER: 03128749 CHARITY REGISTRATION NUMBER: 1052958 Triodos Foundation Company Limited by Guarantee Unaudited Financial Statements 31 December 2023 Triodos Foundation Company Limitsd by Guarantee Financial Ststements Year ended 31 December 2023 Contents Trustees, Annual Report{Incorporating the Directorfs Report)................................................. Independent Examinerfs Report to the Trustees of Triodos Foundation .................................. Statement of Financlal A¢tivities.......................... . ..................................................................... Statement of Financial Position . Notes to the Financial Statsments....................................................................................... Triodos Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 December 2023 The trustees, who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the chartty for the year ended 31 De￿mber 2023. Reference and adminlstrntive details Reglstered chaftity name Triodos Foundation Charity registration number 1052958 Company registrallon number 03128749 Principal offlce and registered office Triodos Bank UK Ltd Deanery Road Bristol BS1 SAS The trustees D Hawes S Hargrave- appointed 25 January 2023 E Harrison - appointed 28 March 2023 D VVright- appointed 20 June 2023 B M Watts - resigned 20 June 2023 S Bowker- resigned 10 March 2024 Company secretsry Rebec￿ Haigh Independent examiner Paul Cridland Bsc FCA 61 Macrae Road Ham Green Bristol BS20 ODD Structure. governance and management The company is a registered charity and limited by guarantee. The company is organised so that the Management Committee meet regularfy to manage its affairs. All the trustees are employees of Triodos Bank UK Limited. None of the trustees receive any remuneration from the company. The Board reviews the skills required by the charity and recruits new trustees on that basis. Triodos Bank UK Limited allows the company to use the faalities of the bank to manage the charity free of charge and also reimburses the operating costs of the charity. Objectives and acllvlties The principal adivity ofthe charitable company is the general support of tharitable activities through grant making. The notes on pag8s 7 to 13 forni part of Il*se financial statements. Triodos Foundation Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Directofs Report) (continued) Year ended 31 December 2023 Achlevements and perf0m￿nCe During the year, the Foundation welcomed the addtbon of three new trustees in Stefan Hargrave, Ellen Harrison and Diana Wright. These appointments focused on expanding the Foundations charttable activities which with the aim of making positive change to local comfflunities in Bristol and kne surfounding area. The amount of unrestricted donations the charity has recetved have been put lo good use with grants of £25,650 (2022.. £11.600) being made in the year which represents a 1210kn increase on 2022. Additionally, the amount of restricted donations in the year totslled £63.360 (2022= £nil) which all relates to The Quaker initiative fund which was established lo help charttable initiatives undertaken by the Religious Society of Friends with pieference given to initiatives providing social housing or supporting the homeless. This grant reduces the restricted funds held by the charity to £nil (2022= £63,360). The Foundation rents Offi￿ space from Triodos Bank UK Limiied al Deanery Road which is used to generate income for further grants through event space hire to liktrminded and charitable organisations. During 2023, the office space was open for the full year after a period of closure for 8 months in 2022. Rental income for the year totalled £12,830 (2022: £3,250) an increase of 295°A from 2022. The Foundation continued to award grants of £89,010 in the year and the increased grant acttvity caused a decrease in financial resources for the year of £67.344. Public Benefit Statement The trustees have regard to the guidan￿ published by the Chartttes Commission and confimi that they are aware of the guidance and that in making decisions. where the guKJance is relevant. that they have taken il into account. Financial review The Management Committee recorded a decrease in finanaal resources of £67,344. bringing the total funds from £151,396 to £84,052. Following the payout of the Quaker Fund of £63,360, there are no further restricted funds held by the Foundation (2022: £63.360). Triodos Foundation's mission is to make a positive change to local communitie5 in Bristol and the surrounding area through offering grants to projects and charities that are like-minded. and values led. The Foundation receives many more applications than rt can respond to positively both from dornestic and international charities. The Management Committee can only consider approaches from charities whose goals closely match those of Triodos Foundation. Plans for future periods The Foundation intends to continue rts policy of supporting soaal, environmental. and cuttural inttiatives in the Bristol area through grant making and using the office space to support like-minded, and values led organisation with their project related and charitable activities. Reserves Policy The Management Committee have established a policy whereby the unrestricted fvnds not committed or invested in tangible fixed assets {the 'free reserves? are held on deposit pending expending on charitable activities. A minimum reSe￿e of £15,¢JJO will be held at all times to cover antiapated annual running costs. Al the balance sheet date such free reserves totslled £84.052. The Trustees o)nsider it appropriate to adopt the going concern basis for the preparation of the accounts as detailed in Note 3 to the financial statements. Tho notes on pages 7 to 13 fomi part of these financlal statements. Triodos Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 December 2023 Investment Policy The Management committee have considered the most appropriate policy foi investing funds and have found that holding funds on deposit is the most appropriate. The Management Committee consider that the return on these eposits in the year of an average 2.0°/o is normal in the cu￿ent market conditions and will likely fall slightly in 2024 as savings rates are likely to fall as the Bank of England Base Rate is likely lo contract. Fundraising Standanls Triodos Foundation is committed to responsible and transparent fundraising and our Trustees are aware of the need to cornply wlth the regulations from the Charities (Protection and so￿al Investment) Act 2016. The charity does not engage with any extefflal prOfeSs￿nal fundraisers. We monitor best practi￿ and ensure we protect vulnerable individuals. Risks The Management Commtttee have conducted their own review of the major risks to which the charity is exposed. and systems have been established to mitigate those risks. Given the nature of the charivs current aclivilies there is a minimum external risk to fvnding. Intemal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are periodically reviewed to ensure that they still meet the needs ofthe charity- Small Company provisions This report has been prepared in accordan￿ with the prowsions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 10 September 2024 and signed on behatf of the board of trustees by.. S Hargrave Trustee The not￿ on pages 7 to 13 fonn part ol thgse financlal ststements. Triodos Foundation Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Triodos Foundation Year ended 31 December 2023 I report to the trustees on tny examinatton of the financaal slatements of Triodos Foundation Cthe charity.) for the year ended 31 December 2023. Responsibilities and basis of report As the tmstees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wtth the requirements of the Companies Act 20061'the 2006 Act,). Having satisfied mysew that the accounts of Ihe company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act?. In carrying out my examinalion I have followed the Directions given by the Charity Cornmission under sedion 145{5){b) of the 2011 Act. Independent examinerf5 Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: ac(x)unting records were not kept tn respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not accord with those records" or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fai¢ view which is nol a matter considered as part of an independent examination- or the financial statements have not been prepared in accordan￿ with the methods and principles of the Statement of Recommended Practice for acLounting and reporting by charities applicable to charities preparing their accounts in accordan￿ wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Paul Cridland Bsc FCA Independent Examiner 61 Macrae Road Ham Green Bristol BS20 ODD 10 September 2024 The notes on pages 7 to 13 form part of these financial statgmgnts. Triodos Foundation Company Limlted by Guarantee Statement of Financial Activities (including Income and expenditure account) Year ended 31 December 2023 2023 Restricted funds 2022 Unrestricted funds Totsl funds Total funds Income and endowments Donations and legacies Charitable activities Investment income 14.384 12.830 2.683 14.384 12.830 2,683 10,984 3,250 698 Total income 29,897 29,897 14,932 Expenditure Expenditure on charitable activities Total expenditure 33.881 63.360 97,241 19.562 33.881 63.360 97,241 19.562 Net income and net movement in funds (3.984) (63.360) 167,3441 {4.630) Reconciliation of funds Total funds brought forward Total funds carried forward 88,036 63.360 151,396 156,028 84,052 84.052 151,396 The statement of financial activities includes all gains and losses recognised in the year. Total funds includes restricted fund balances of £nil (2022.. £63,360). There was no income or expenditure in relation to restricted funds in 2023 or 2022. All income and expenditure derive from continuing alaivities. The notgs on pages 7 to 13 fomi part of tl*se financial statsments. Triodos Foundation Company Limitsd by Guarantee Statement of Financial Position 31 December 2023 Company number 03128749 2023 2022 Note Current assets Debtors Cash at bank and in hand 13 10A75 86.624 3,640 150,604 97.099 154,244 Creditors: amounts talling due within one year Net current assets 14 13,047 84.052 2,848 151,398 Totsl assets less Cu￿nt liabililies 84,052 84,052 151,396 Net assets 151,396 Funds of the charity Reslricted funds Unrestricted funds 63,360 88,036 84.052 Totsl charity funds 15 84,052 151,396 For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities: The members have not required the company to obtain an audit of ils financial ststements for the year in question in accordan￿ with section 476,. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of ffinancial statements. These finan￿al statements have been prepared in accordance with ttie provisions applicable to companies subject to the small companies, regime. These financial slatements were approved by the board of trustees and authorised for issue on 10 September 2024. and are signed on behalf of the board by: S Hargrave Trustee The notes on pag•$ 7 to 13 fomi part of these flnancial statomgnts. Triodos Foundation Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2023 General infomiatton The charity is a public benefft entity and a PTivate company lim5ted by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Triodos Bank UK Ltd, Deanery Road. Bristol, BS15AS. Statement of compliance These financial statements have been prepared in compliano wilh FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slatement of Recommended Practice applicable to charities prepartng their accounts in accordan(x with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 20C6. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modtfied by the revaluation of certain financial assets and liabilitres and investment properties measured at fair value through income or expenditure. The financial statements are prepared in slerling, which is the functional cutrency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'tfue and fair view. This departure has involved following the Accounting and Reporting by Chartties.. Slalemenl 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) issued on 16 July 2014 rather than the Accounting and Reporb"ng by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Fund accounting Unrestri¢ted funds are donations and other In￿Ming resources receivable or generated for the objec15 of the charity without further specFfied purpose and are available as general funds. Designated funds represent donations received for specific tharitsble purposes. The directors have regard to the wishes of the donors in the expenditure ol these funds but retain absolute discretion in all cases. Restricled fvnds are to be used for spe