Heart of Bucks
COMMUNITY FOUNDATION
TrM5fee5 '
ANNUAL REPORT
AND FINANCIAL
STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Buckinghamshire Community Foundation
Charity Registration No. 1073861
Company Registration No. 03662246

Heart of Bucks
COMMVIIITY POUIIOATIO
Buckinghamshire Community Foundation
Report and Financial Statements
Year ended: 31st March 2024
Charity no. 1073861
Kefflerek7￿ AdMiKi5trotive iffjYmAti(Tr7
Buckinghamshire Community Foundation - Trustee Directors
The trustees, who are also the directors for the purpose of company law, and who served during the year
and up to the date of signature of the financial statements were:
Mr W M Stewart - Chairman of the Board
Mr R D Taylor - Vice Chairman and Chairman of Finan￿ & Investment Committee & Remuneration
Committees
Mr G R Anson
Mr M Bradbury - Chairman of Grdnts and Social Investment (Loans) Committee
Mr R Collins (Retired November 2023)
Mrs K Hobbs (appointed August 2024)
Mrs P Kirkbride - Chair of Development Board
Mr P J Manktelow - Treasurer
Mrs L Marston-weston (Retired December 2023)
Mrs A Norfolk-Beadle
Ms A Smith (Pask)
Mrs P Vaughan (appointed August 2024)
Mrs L C Wood
Chief Executive
Mr Henry Allmand
Charity No. 1073861
Buckinghamshire Community Foundation Company No. 03662246 (Registered in England & Wales)
Subsidiary Company- Buckinghamshire Community Foundation (KHC) Ltd
until sale on 8th February 2024
Directors
Mr W M Stewart - Chairman
Mr J Biggs
Mrs L V Cannon Cleg
Mr G Corney
Mr P J Manktelow
Mr W Pettinger - Treasurer
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Registered office address:
70 New Road, Weston Turville, Aylesbury, Bucks, HP22 5QT
Auditors:
Azets Audit Services, Suites B & D, Burnham Yard, Beaconsfield, Bucks, HP9 2JH
www.azets.co.uk
Bankers:
Nat West Bank, 22 Market Square, Aylesbury, HP20 ITW
Investment Managers:
CCL4 Investment Management Ltd. Senator House, 85 Queen Victoria Street, London EC4V 4
Sarasin and Partners LLP, Juxon House, 100 St Pauls Churchyard, London EC4M 8BU
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cO￿te￿*s
Page
Trustees, report
5-17
Independent auditor's report
18-20
ststement of financial activities
21
Summary income and expenditure account
22
Balance sheet
23-24
ststement of cash flows
25
Notes to the financial statements
26-64
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Eefrfft rf-the knstees
The trustees of Buckinghamshire Community Foundation are pleased to present their report and financial
statements for the year ended 31 March 2024.
The financial statements have been p￿pared in accordance with the accounting policies set out in note I
to the financial statements and comply with the charity's governing document, the Companies Act 2006
and "Accounting and Reporting by Charities: Ststement of Recommended Prattice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective l January 2019) .
Structure, Governok7￿ rf￿d Mrffr70fjeme￿f
Introduction
Buckinghamshire Community Foundation C BCF,? is the formal name of our charity and is used for governance
and legal requirements. Our working name, by which we are recogni5ed in our community, is Heart of Bucks
("Heart of Bucks,).
The foundation was estsblished in 1999 as a grant-making charity, by the late Sir Nigel Mobbs JP who was
HM Lord-Lieutenant of Buckinghamshire between 1997 and 2005. At that time, community foundations were
already well-established in North America and, seeing the power of people coming together through their
giving to build thriving communities, Sir Nigel wanted the same for Buckinghamshire. Since then, we have
given away more than £15m in fvnding.
We are part of a network of 47 Community Foundations across the UK, all grant-making charities dedicated
to improving the lives of people in a defined geographic area. We bring together the fi'nancial resources of
individuals, families, public authorities, national fvnders and businesses to support our local communities.
The foundation is a registered charity and company limited by guaTrntee, registered in England and Wales.
The Board and Committees
The trustees of Heart of Bucks are also directors for the purposes of company law.
New trustees are appointed by the existing trustees and serve for a maximum of nine years. New trustees
are sought through a formal recruitment process which may include open advertisement or recommendations
from local networks, dependent on the type of skills sought. The recruitment process includes relevant
eligibility checks and interviews with members of the Board before a formal recommendation is taken tr) the
full Board for approval.
Our governing document provides for a minimum of five trustees and a maximum of 13. As at 31st March
2024, 9 trustees were in post.
On appointment, and periodically thereafter, we ask our trustees to re-confirm their eligibility to serve, and
Page 5

they sign model Trustee and Director Declaration statements. Trustees are welcomed with an induction pack
and in-person programme which provides a briefing on the background to the foundation and the various
aspects of our work, as well as the role and responsibility of trustee/directors. In their first year, new trustees
will observe a grants panel and other coMmitt￿S as best suited to their area of expertise and interest.
Trustees are required to declare any competing or conflicting interests, which are maintained as a permanent
record and reviewed at the start of each Board and Committee meeting. Where a conflict of interest arises,
trustees are reqUI￿d to absent themselves from any discussion or decision-making.
Trustees have access to an online Board portal with all relevant policies and information about the foundation's
activity as a permanently available resour￿, and this is also used to manage online discussion, approvals and
meeting papers.
All trustees give of their time freely and no remuneTrtion is paid.
To enable us to bring in expert and specialist support, Heart of Bucks operates a number of sub-committees,
being the Development Board, Finan￿ and Investment Committee, Remuneration Committee, Social
Investment (Loans) Committee, Grants Committee and various grants panels.
All committees operate under Terms of Reference approved by the Board, which in some cases- for example
the grants panels - includes delegated authority to decide on grant and loan awards, within the over-arching
policy approved by the Board.
Expert volunteers are recruited to work alongside trustees on these sub-committees to help us ensure our
activities are well-informed by specialist or local knowledge and that grant decisions are independent. The
appointment of committee members is reserved to the trustees who will review any recommendations made
by the committees.
The Board are supported with their governance responsibilities in respett of the Charity Commission and
Companies House by the Head of Operations and Head of Finance.
Role of the Board
At their quarterly meetings, trustees discuss and agr￿ the broad areas of strategy and activity. They scrutinise
performance against a set of Key Performan￿ Indicators under three strategic aims: Income Generation,
Meeting Local Need and Civic and Community Leadership.
Matters reviewed at each Board meeting include grant making, investment fvnd performance, budget and
finances, fundraising and donor relations as well as HR matters, risk, policies and other governance matters.
Twice a year the Board meet for strategy review and planning, with the focus alternating between finance
and fundraising, and grant making and community impact.
The day-to-day management of the charity is delegated to the stsff team under the leadership of the Chief
Executive.
Page 6

Membership and External Regulators
As a member of the UKCF network Heart of Bucks benefits from the experience, collaboration, and support
of 47 Community Foundations. Membership also enables us to access national funding programmes and to
share the cost of investing in software development.
Heart of Bucks is registered with the Charity Commission, Companie5 House, the Fundraising Regulator and
the Information Commissioners Office as a Dats Controller.
Risk Management
The trustees have a robust Risk Poliry and the Chairman leads on risk for the Charity.
Major risks are recognised and recorded, along with mitigation measures, on our Risk Register. Risks are
recorded under five categories: Strategic and Governance, Financial, Operational and Reputational, Staffing
and Culture. The board review the register at each quarterly meeting, identifying any new or emerging risks
and considering whether current mitigation measures are sufficient, or whether further action is required.
For the reporting year, the trustee5 identified our most significant risk to be the Ioss of investment income
and/or invested capital due to poor economic performance.
This risk is mitigated by our investments being actively managed by CCLA and Sarasin in line with objettives
agreed by our trustees. We also put considerable effort into our fundraising attivities to generate both flow
through (immediate spend) grant funds and for donations to our core operating costs.
As explained below, (Investments and Investment Policy), the performance of the investment houses is
monitored by our Finance and Investment Committee. It remains a possibility that lower investment income
could reduce our ability to give out gTrnts but this would not affect the financial viability of Heart of Bucks in
the next three years.
Fundraising Activities
The Development Board leads on our fvndraising activity, with reporting responsibility to the Board of
Trustees. Heart of Bucks is registered with the Fundraising Regulator, and we work hard to ensure we are
compliant with the Fundraising Code of Practice. We are also registered with the Information Commissioners
offi.ce and have policies and processes in place to ensure we comply with the Data Protection Act, General
Data Protection (UK) Regulations and the Privacy and Electronic Communications Regulations in our contacts
with supporters, donors and beneficiarie5, as well as the wider community.
Our Donor Acceptance and Refvsal Policy sets out the cIrcumstsn￿ in which we will undertake further
enquiries into the source of donations and when we may refuse a donation. It also provides guidance on how
we will take account of the capacity of a donor to make a decision to donate, as well as providing staff with
guidance on anti-money laundering measures.
Related Parties
One of our trustees is a partner at B P Collins LLP, which has consistently made donations into its restritted
fund held by Heart of Bucks for grant giving. Another trustee is also the trustee of a charitable foundation
which has given funds to Heart of Bucks for onward distribution.
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Ojb- eLtive5 And Activitie5
Our Vision and Mission
Our vision is to create and support a culture of giving that strengthens and supports communities throughout
Buckinghamshire.
Our mission is to be a catslyst for social change, simplifying, encouraging and enabling local giving and
community philanthropy. Through a programme of informed and targeted funding and advice, we make our
community a better place to live, work, play and do business.
Our Values
We listen respectfully
We support locally
We fund inclusively
We lead collaboratively
We advise professionally
Our Strategy
We art as a vocal.
visible and
collaborative
champion for the
whole community
We ralse money
for charities and
good causes in
Buckinghamshire
VbÈ Flay a l*JirwJ rde in
sthin9 BuL*inghamshire¥
IrKlividuals, organisatic￿6
arKI bu55rEs5es to
financyalty support Iheir
Icol CCAnmunty in facK
that1￿e5 of tDday
We dlstrfbute carefully
considered grants. ensuring
a lasting l(Kal impart
VIÈ alwass carefully c(¥nskler the neeJ5
of the communty in Buthnghamshire
ar#J tsr9et fvndlThJ tuwards tr*
effective Irxal gcrAI causes
How we benefit the public
Our trustees have taken account of their duty under section 4 of the Charities Att 2011 and of their obligations
with regard to the Charity Commission guidance on public benefit when planning our business and activity
programmes.
The Board review our public benefit annually to assure themselves that our operations continue to align with
this responsibility. This was last carried out on 16th May 2024.
The direct public benefit that flows from our charitable purpose is primarily the provision of grant and loan
funding for a broad range of community services and projects. To be eligible for our funding, projects or
services must be exclusively "not for profit" and in the main, must benefit residents of Buckinghamshire.
The range of funds we managed throughout the reporting year cover all of the issues and themes of need
listed in our charitable purposes. These are shown below, with examples of grants made during the year.
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For the Relief of Poverty: We provided grant fvnding to several food-related projects, including
£3,750 to the Vale of Aylesbury Vineyard's Foodbank and £10,000 to Wycombe Food Hub.
Our Voluntary Sector Resilience Fund provided a £10,000 grant to The Link Foundation which supports
vulnerable families living in Buckinghamshire, who struggle to provide essentials for their children.
For the advancement of education: A grant of £10,000 was made to the Cloudy Foundation for
their Buckinghamshire Skillbase Programme which supports Young People by educating them to develop
critical employment skills that help to fill the specialised digitsl skills gap for tomorrow'5 workforce.
Elsewhere, our partnership with local solicitors B P Collins enabled a gr3nt of £3,000 to the Red Balloon
Educational Trust who provide a full-time educational and therapeutic recovery programme for young
people unable to attend mainstream school due to bullying, mentsl ill-health or special educational
needs.
For the advancement of health and saving of lives: Brighter Futures Together were awarded a
grant of £14,275 from our Young People's Wellbeing Fund, in partnership with Buckinghamshire Council.
They are working to develop a network of Young Mental Health Champions (YMHCS), accredited by the
Royal Society of Public Health.
Chiltern Prostste Cancer Support Group received a gTrnt from our Let's Talk About Cancer Fund, in
partnership with Buckinghamshire Healthcare Trust. This award enabled the group to run more of their
successful community-ba5ed events offering free PSA testing to allow early signs of Prostate Cancer in
men to be recognised.
For the advancement of citizenship or community development: Aylesbury Hindu Temple Trust
received a grant from our Micro-grants programme which enabled them to deliver the Holi Spring
Festival of Colours 2024 community event.
Community group Brill with Ukraine received a grant to continue their support, including English
language le550ns, for the Ukrainian refugee families that have settled in the area.
Through the judiciary system we were also fortunate beneficiaries of cash confiscated during the arrest
of sentenced individuals, enabling us to redirect crime-related assets to good causes supporting safe and
cohesive communities.
• For the advancement of the arts, culture, heritage or science: We were delighted to be able to
support the National Paralympic Heritage Centre with their Sensory Explorations - Heritage programme,
linking SEND schoo15 With heritage partners.
Elsewhere we were able to award grants to Vache Baroque for their"Come & Learn to Sing" Se￿lOnS. a
series of four accessible community singing workshops at Wycombe Arts Centre. We also supported the
innovative Alina Orchestra to take their"Band in a Van" music workshops into Care Homes.
• For the advancement of amateur sport: We have again provided a range of fvnding through a
number of sports-targeted funds, including the Sherling Sports Fund, Nic Willoughby Fund, Julian Budd
Kids in Sport Fund as well as from our geneTrl funds.
Projects ranged from cheerleading equipment for SuperNova Cheer, a safe path with steps and handrail
for the Cheddington Pentanque Club, to funding a bespoke wheelchair for Aces Wheelchair Basketball
Club.
• For the advancement of human rights, conflict resolution or reconciliation or the promotion
of religious or racial harmony or equality and diversity: A grant from our Community Safety Fund
supported Hope for Justice to continue their training programme for front-line professionals to help them
spot and report the signs of modern slavery.
Elsewhere, Community Youth Ventures CIC received a grdnt in support of their Weapons, Gang and
Page 9

Exploitstion Preventstive Project. This programme 5eek5 to engage young people and to challenge the
types of thinking and behaviour that can lead to the loss of their own life or someone else's.
• For the advancement of environmental protection or improvement: The Inter-climate
Trust received funding to support their development of a Climate Action Toolkit working with five
Buckinghamshire schools to enable students to create a tsilored plan to motivate climate action.
Meanwhile, Earthwatch Europe received funding to create finy Forests - small, tennis-court sized
woodlands that were planted in ten areas of higher deprivation in Buckn"nghamshire and are now
maintained by a community team of volunteer Tr￿ Keepers.
• The relief of those in need by reason of youth, age, ill-health, disability, financial hardship
or other disadvantage: Throughout 2023-2024 we continued to run several hardship funds aimed at
supporting individuals or families experiencing financial insecurity and/or fuel poverty. These included
the Helping Hand Fund for which we partnered with Buckinghamshire Council, alongside our Crisis Fund,
Together Against Poverty Fund, and fvnds supporting refugees from the conflict in Ukraine, and those
resettled from Afghanistan. As the Cost-of-Living crisis continued to impact heavily, we saw consistently
high demand for support and across all our hardship funds. Over the financial year we made 562 grBnts,
with a value of more than £530,000, putting much needed support directly into the hands of those in
OL4r Acti witie5
Grant and Loan Making
Heart of Bucks generates funding, primarily for Buckinghamshire causes, from a broad range of sources,
including ststutory bodies, government programmes, national charity programmes, local business, trusts and
private philanthropic donors.
We distribute grants and social investment loan5 to constituted not-for-profit group5, including Registered
and non-registered Charities, Community Groups, Community Benefit Societies, Charitable Incorporated
Organisations (CIOS), Community Amateur Sport5 Club5, Community Interest Companies (excluding those
limited by shares) and Parish Councils operating within the administrative county of Buckn'nghamshire.
We also operate a number of hardship funds giving grants to individuals and families in crisis. For these funds
we work through a network of Community Advocates - associates working in non-profit or public sector
organisations who are well-placed in the community to provide holistic advice, debt and budgeting support
to the recipients of our grants, thus helping to maximise the impact of a small cash grant.
Due to the bespoke nature of our donor services, some funds may have specific eligibility criteria, or may be
targeted at particular themes or causes that the donor wishes to support. In some cases, donors give specifi'c
instructions as to the organisations they wish to support.
However, the real strength of the Community Foundation model is seen when donors are less certain about
what types of issues to support, or which, out of a myriad of local and national organisations, is the best
match for their giving aspirations. We work closely with donors to understsnd what issues are important to
them and their families and share relevant information about local needs, to help them develop the fund that
best aligns with their giving aspirations. In all cases, eligibility criteria are subject to the over-arching grant-
making policy of the Board of Trustees which specifies a small but important number of exclusions, including
activities supporting a single religion or political parties.
Applications are invited from eligible groups through a programme of marketing, research, promotion and
outreach activity aimed at reaching grassroots organisations across the County.
On receipt of applications, Heart of Bucks staff conduct thorough due diligence checks, prior to the application
being considered by the Grants or Social Investment Loans Panels. These are independent decision-making
bodies, drawn from a county-wide pool of around 15 volunteers, working alongside donor representatives
Page 10

where desired, and each led by a Heart of Bucks trustee. At all decision-making meetings, panel members are
asked to declare any interests in the applications before them and, if so declared, are excluded from decision
making on that item.
Decision-making for hardship ftjnds is delegated to the staff team, in order that very quick decisions can
be given to relieve those in hardship. This is also the case for smaller grants made under our micro-grants
programme where the aim is to give small grants, with a quick turnaround to meet immediate needs. These
grants are reported to our grants panel for independent scrutiny.
In the case of some of our Corporate Funds, the decision-making may be made solely by the donor company's
staff team. This enables the company's workforce to engage in charitable giving and to gain awareness of
community needs, in support of the company's Corporate Social Responsibility Programmes.
The majority of grants awarded are £10,000 or less (£2,000 or less in the case of hardship funds or micro-
grants), but a number of our newer funds have increased the maximum grant available to £15,000. AII
payments over £10,000 are reported to the Finance & Investment Committee for scrutiny.
Social Investment "Loans" may be awarded up to £25,000, repayable over a period up to five years. These
are interest-free, unsecured unregulated advances of funds. Following due diligence checks, decisions on the
terms and condition of any advance are determined by the Social Investments (Loans) Committee.
Monitoring Impact
Ensuring that our donors, generosity is applied to the best PO55ible effect is very important to U5, 50 we
monitor the usage and impact of any funding awarded. We work closely with beneficiary organisations to
enable them to identify and report on the difference the award ha5 made to their community or service users.
When End of Grant reports are received, our Progrnmmes Officers review these against both the original
purpose of the fund and the stated purpose of the grant awarded, feeding back our findings to the reporting
organisation to help them both to celebrBte achievements or to seek improvements where necessary. To
complete the circle, we provide regular impact reports and feedback to the original donors so they can hear
about the impact their giving has achieved.
Community Leadership
Heart of Bucks has a growing role in community leadership. As a non-affiliated, independently funded
organisation, we are ideally placed to bring knowledge and expertise to influence local public policy around
Voluntary and Community Sector Strategy and community development.
This year we were delighted to be asked to host a community engagement event on behalf of the Deputy
Governor of the Bank of England. Sir David Ramsden joined us and a cross section of ten community groups,
to hear first-hand how the cost-of-living crisis was impacting on small charities and the people they serve.
Inspired by the success of this event we went on to facilitate further Vitsl Voices events, community forums
that give a platform to small, grassroots organisations in Bucks and help them connect with influential people
on key issues to enact change and make a difference.
Elsewhere, our six theme Ambassadors are experts in their field and bring a wealth of knowledge to guide our
research and development work and provide regular guest blogs on issues of current concern or development.
Topics covered in the last year include Climate Education, and the pitfalls for the UK Charity Settor in the
expanding use of Artificial Intelligence.
We also take pride in our regular 'Inspiring Buckinghamshire, series which gives local people from a range
of sectors a chance to share their knowledge and insights to help inspire others. Contributors over the past
year include Tomas Pukalski, Managing Director of Framework Digital, Cynthia Tooley MBE, Founder/Director
of Jedidiah UK, and Haseeb Nawaz of Wycombe Youth Action.
Page 11

Throughout the last year our CEO was a key partner in the Joint Strategic Funding Group, bringing
together severBI funders including those from the public sector, family trusts and third sector to support our
Buckinghamshire community.
Our Policy & Insight Manager, funded by The National Lottery Community Fund, continues to research
the areas of contrast across our county, and over the last year published a series of "Buckinghamshire:
Uncovered" reports, highlighting issues from Our Ageing Population, to Homelessness, and Air Quality and
the Environment.
In 2023-2024 we continued to be a leading partner in the developing Bucks Dats Exchange project, bringing
together data from across a range of sources and organisations to provide a more complete picture of the
social needs, current funding and providers in Buckinghamshire. Through this project we also worked with
Nottingham Trent University to shape their VCSE Barometer sur4ey.
Subsidiary Company
At the start of the year, Heart of Bucks was the owner of a separately constituted subsidiary company,
Buckinghamshire Community Foundation (Kop Hill Climb) Limited. The purpose of this company is to raise
charitable funds for grant making, currently from the Kop Hill Climb Festival. The surplus raised from this
event was transferred to Heart of Bucks to provide grant-making funds. Two trust￿5 of Heart of Bucks sat
as Director5 for the Subsidiary company along with three other Directors.
The Kop Hill Climb event and scale of the subsidiary operation has grown significantly since coming into Heart
of Bucks ownership in 2013, and this year the Heart of Bucks trustees agreed that it was time to support the
Kop Hill Volunteer Committee to establish themselves as an independent CIO in order that they can retain
their very local focus and volunteer engagement whilst enhancing their fundraising options.
After some months of legal process, we were delighted that the new Kop Hill Charity CIO was registered with
the Charity Commission on 9th October 2023 (Charity number 1205108). On 8th February 2024 the name of
the subsidiary company was amended to KHC Ltd and ownership of the company was formally transferred
to the new CIO.
For the coming year we will continue to work with the new trustees to deliver their grant-making programme
and will continue to be friends and supporters of the new charity as its gets independently established. We
wish Kop Hill Charity every success for the future.
5trAtgic Eeprt
Achievements and Performance
In 2023-2024 we had our second-largest ever grant making year, distributing over £2 million in grant funding,
supporting 224 projects and 562 households.
As demonstrated in "How we benefit the public" above, we are a place-based funder able to support a huge
variety of causes and issues. In 2023-2024, our grants ranged from just £23 to support a recently arrived
Afghan refugee to tske his Driving Licence Theory Test, to a grant of £39,000 to provide sensory equipment
and a mental health quiet space for our local Children's A&E department.
We were particularly excited to launch our Young Futures project this year. (www.Youngfutures.org ).
Young Futures is a partnership of local organisations and young people (aged 18-30) dedicated to supporting
the aspirations and opportunities for young people across Buckinghamshire. With support from the Rothschild
Foundation and a generous private donor, we were able to recruit a Programmes Manager to lead this project
and were delighted when we received a huge number of applications from Young People all eager to help
shape our youth focussed funding progTrmmes.
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After a competitive recruitment campaign, 13 volUnt￿rS joined our Young Futures Board. They have already
been working hard to identify funding priorities that reflect the issues and challenges most impacting the lives
of Young People. Supported by our Grants team, the Board have invited applications from groups working to
address critical issues including vaping, mental health, discrimination and much more. They will be awarding
their first grants early in the next financial year.
We were also fortunate to benefit from further support from some fantsstic local businesses, and continued
to build our Community Investors programme, which recognise5 busine55 in Buckinghamshire who are
contributing fi.nancially or through other forms of support to help us to make our community stronger.
Our Development Team, part-funded with the assistance of the Rothschild Foundation, continued to perform
impressively. We received £2.2 million in donation5 and grants in the year, of which £0.4 million was invested
in restricted endowments to fund grants in perpetuity and £1.6 million was donated to restricted flow-through
funds for immediate grant making.
We ended the year with a fabulous reception at Chequers hosted by His Majesty's Lord Lieutenant, with the
kind permission of the Prime Minister and the generous sponsorship of The Mulberry Trust (with particular
thanks to James and Elsie Frost). The event, marking the stsrt of our 25th Anniversary celebrations brought
together many of our fundholders to celebrate our achievements to date, and tr) hear about future plans.
What did we achieve?
Some of our notable grants achievements during the year:
£2m distributed in grant funding including over £560k in hardship fvnding to individual households.
Launched our 25th Anniversary ￿lebratIonS with an exclusive event at Chequers, kindly sponsored by
The Mulberry Trust.
Launched our Young Futures Board, to put young voices at the heart of grant making.
Facilitated a new Series of events, Witsl Voices connecting the Vol￿ of the charity sector to influential
people and organisations.
Brought together public and private funders to realise a huge £230k grant funding programme - the
Voluntsry Sector Resilience Fund to support the VCSE sector through cost-of-living challenges.
Launched our Together Against Poverty Appeal to support families and individuals experiencing a range
of issues including, food, fuel and digitsl poverty.
With the support of SWEF CIC, launched the SWEF Enterprise Bursary fund to support young
entrepreneurs.
Future plans
We are looking forward to a year of marking our 25th Anniversary and will be embarking on an exciting
programme of events across our county, shining a light on the amazing work delivered by charities of all kinds
in our county.
Our core grants programmes will continue, with the addition of a number of new programmes that are
currently in development. We are particularly excited to be launching a series of bursary grant programmes
to underpin our sUPPOrt for young people in the county.
We will continue to work with UKCF colleagues to manage transition to a new Salesforce platform which will
provide enhanced control of our data and much better access to information for our donors and grantees.
We will be hosting the new Head of Bucks Data Exchange as part of the Heart of Bucks stsff team and we
will publish further titles in our Buckinghamshire: Uncovered report series.
Mindful always of the need to sustain our charity, we will also look for opportunities to diversify our income
streams.
Page 13

FinAk7aAI Eeviev
Our work is entirely reliant on income and investment returns from our endowments, donations to our flow-
through funding programmes and other unrestricted donations received.
Heart of Bucks draws funding from as wide a rdnge of income streams as possible, including individual
philanthropic donors, corporate donors, local and central government, other national and regional funders,
trusts and fundraising activity.
During the year a long-term supporter of Heart of Bucks, Peter Cullimore, sadly passed away. We are very
grateful that he generously left five seats at the Royal Albert Hall in legacy to us, as an unrestritted donation
worth £0.9 million. The Royal Albert Hall will manage these seats on our behalf to generate income in future
years to support Heart of Bucks, charitable objectives.
We also received funds of £0.4 million to endowment funds including significant donations from the transfer of
the John Bedford's Charity Trust (£lllk), Gurney Charitable Trust (£25k) and £60k from the Buckinghamshire
Building Society who were able to release dormantfvndsforcharitsble use. Although not a happy circumstance,
we were also the named beneficiary following the dissolution of the Healthy Living Centre CIC and received
£142k which has been invested in our Health & Wellbeing endowment fund, to generate income for related
grant-giving in perpetuity, providing a suitable legacy for this wonderful local charity.
We received donations of £1.6 million for immediate-impact (flow-through) grant making. Donations came
from corporate donors De Soutter (£70k) and Rectory Homes (£75k), and many others including Balhsen UK,
Veolia, ASM Auto Recycling & ASM Metal Recycling, BP Collins, Urenco Ltd, Hedsor House, Buckinghamshire
Building Society, and ESRI UK. Our grateful thanks are also recorded to other corporates too numerous to
mention here who donated to our pooled Community Investor Fund.
We were also supported by a number of private donors including The Splash, McGilvray and Hartmann Funds,
by Challe Burrell, Nick and Cate Archer, Clive and Sally Sherling, and many others, alongside donations from
Charitable Trusts including, the Rothschild Foundation, the Anson Trust, T&S Williams Trust, the Amar and
Wilson Family Trusts, the King-cullimore Charitable Trust, and SWEF CIC.
Our staffing costs were partly offset by generous funding from The National Lottery Community Fund for our
Policy & Insight manager, the Rothschild Foundation for some of our Development Team's cost, and private
donations towards the Young Futures Fund, and other overheads.
During the financial year Heart of Bucks recognised income totalling £3.8 million. Investment income
(excluding revaluation of investment funds) contributed £0.4 million of the income received and a full analysis
of this is given in note 6 of the financial statements.
In total we held funds at year end with a value of £14.0 million (2022-2023: £12.1 million). The year-end
funds comprised £12.1 million of investments, including the listed investments and the Royal Albert Hall
Box,with the remaining £1.9 million held predominantly as cash restricted for the purposes of grant making.
Grant funding of £2.0 million was distributed in the year.
Unrestricted fijnds relate primarily to long term investments used to generate income to defray Heart of
Bucks, operating costs, allowing donor5 to maximise the proportion of their donations to us to be passed on
in grants to other organisations and individuals.
During the year unrestritted funds increased by £l.I million, to £2.8 million, mostly as a result of the legacy
donation of fi've seats at the Royal Albert Hall, which will be used to generate income in the coming years. Of
the £2.8 million, £2.5 million relates to long term investments (including the Royal Albert Hall Box). £160k is
held for match funding opportunities, to attract donations and £165k is held in a general fund in line with our
reserves policy to fund operating costs and any unforeseen expenses.
The detailed results for the company for the year ended 31 March 2024 are set out in the attached financial
statements.
Page 14

Investments and Investment Policy
Heart of Bucks's Investment Policy is intended to achieve an appropriate balance between protection and
growth of long-term investment funds and generation of income to fund grant awards and our overhead
costs. We aim to enhance our assets by investing in a range of instruments which are both tax efficient and
responsive to liquidity requirements, and which exhibit the appropriate risk profi'les.
Our Policy includes exclusion5 for some type5 of investments which we would not consider to be a good fi't
with our vision for our local community. Exclusions include companies involved in tobacco or arms sales. Our
investment managers, CCLA and Sarasin are made aware of these ethical considerations and report regularly
on our investment portfolio.
Our Finance and Investment committ￿ (F&IC) comprising some of our trustees and other external expert
volunteer5, monitors the performance of our investment house5 to determine the optimum placement for
the majority of our funds. There are a small number of funds, principally those deriving from Government
match-funding scheme5, which are required to be invested in specified investment houses by rea50n of the
conditions of their original award.
Investment performance is monitored on a monthly basis and reviewed quarterly by the F&IC who also have
oversight of the Social Investment (Loans) Committ￿.
A strong investment performance for the year resulted in growth of approximately 8.5 % across the portfolio.
Having considered the performance of our fvnds, compared with benchmarks for similar funds, the Trustees
are satisfied with the performance of the investments during the year. They have considered but have not at
this time chosen to adopt a "total return" approach although this will be revisited in the coming year.
Reserves Policy
Heart of Bucks, policy is that the unrestricted funds held in a general resenie, not committed or invested in
tangible fixed assets, should include sufficient to cover the administrBtion costs of the charity for a period of
3 months.
Three months administration costs currently amount to approximately £138,000 and this year the general
reserve totsls £165,000.
In addition to this, unrestricted long-term investments of £1.6 million are held in accordance with the directions
of the trustees to create both long-term capital growth and annual dividend income that can be used to help
defray operating costs. These can be liquidated at short notice if required. A fi've seat box at the Royal Albert
Hall, valued at £912,500, has also been donated and income from this will be generated in the future.
When possible, any unrestricted funds in the generdl reserve in excess of the three month target, reviewed
on a rolling three year basis, will either be used to attTrct donations through a match fvnding scheme or given
away in grants. At 31st March 2024 £160,000 was held for match funding in the coming year.
Remuneration Policy
Responsibility for Heart of Bucks, remuneration rests with the Board via our Remuneration Committ& who
review our Pay and Reward Policy annually. Our aim is to pay mid-range sertor-appropriate salaries to
ensure we are able to recruit and retsin appropriately skilled staff to deliver Heart of Bucks, mission, whilst
maintaining a balanced budget.
Heart of Bucks is accredited to The Living Wage Foundation and are committed to paying at least the
Real Living Wage to all staff. The remuneration package includes access to Group Life Assurance benefi't,
above-minimum pension contribution and access to the SmartHealth programme, including health advice,
Page 15

counselling support etc. Trustees do not receive remuneration although reasonable out-of-pocket expenses
are available for all Trustees, Committee members and Volunteers.
Acknowledgements
The trustees would like to thank our public sector, national charity, charitable trust and corporate donors,
those who made philanthropic donations as individuals, families or through trust funds, and other supporters
who have made signifi'cant contribution5 to support our woth during the past year.
The Board would like to record their sincere thanks to our President, Vice President and Ambassadors and to
all the volunteer members of our sub-committees and panels for having generously given so much of their
time and commitment.
Auditor
Azets Audit Services were appointed as auditor to the company and in accordan￿ with section 485 of the
Companies Act 2006, a resolution proposing the appointment of auditors for the next financial year will be
put at a General Meeting.
Disclosure of information to auditor
So far as each person who was a trust￿ at the date of approving this report is aware, there is no relevant
audit information of which the company'5 auditor is unaware. Additionally, the trustees individually have
taken all the necessary steps that they ought to have tsken as trustees in order to make themselves aware
of all relevant audit information and to estsblish that the company's auditor is aware of that information.
The trustees, report, including the strBtegic report, was approved by the Board of Trustees on 6 December
2024.
W. Moir Stewart - Chairman
Page 16

Trustees, responsibilities in relation to the financial statements
The trustees are responsible for preparing the TrUst￿S, Report and the financial statements in accordance
with applicable law and the United Kingdom Accounting standards.
The law applicable to charities in England and Wales require the trustees to prepare financial statements for
each fi'nancial year, which give a true and fair view of the state of affairs of the charity and of the resources
and application of resources of the charity for that period. In preparing these financial ststements, trustees
are required to:
Select suitsble accounting policies and apply them consistently,
Observe the methods and principles of the Charities SORP
Make judgements and estimates that are reasonable and prudent
stste whether applicable accounting stsndards have b&n followed, subject to any departures that are
disclosed and explained
Prepare the financial Statements on the'going concem" basis, unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose, with reasonable accuracy the
financial position of the charity, and enable them to ensure that the financial statements comply with the
Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of our governing
document. They are also responsible for safeguarding the assets of the charity and for taking reasonable
steps for the prevention and detection of fraud or other irregularities. Finally, the trustees are also responsible
for the maintenance and integrity of any financial information included on the charitie5 website and that
these accurately represent the charity's position.
Page 17

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BUCKINGHAMSHIRE COMMUNITY FOUNDATION
Opinion
We have audited the consolidated financial ststements of Bucktnghamshire Communty Foundats'on (the 'parent
chantsble company,) and its sut6idiary (the 'group') for the year ended 31 March 2024 wfiich compnse of the
Consolidated Statementof Financial Acbvttres, the group and Forentcompany Balance Sheet, the Consolidated Cash
Flow Statement and notes to Ihe financial statements. including a summary of significant accounting policies The
financial rep)rting framewvTk that has teen applied In their prepardbon Is aprAicable law and Unrted Kingdom
Accounting Standards, including Financial Rewrb'ng Standard 102 The Financial ReFQrting Standard appliCat￿e in
the UK and Reput4￿ of Ireland (United Kingjom Generally Accepted Ac¢ountsng Practtt}.
In our O￿nion, Ihe financial statements..
give a true and fair wew of the state of the group's arKI ￿rent chantatle companvs affair5 as at 31 March 2024
and of the grou￿$ in￿ming resources and arpli¢atson of resources, for the year then ended"
have been pmperfy werored In accordance wrth Unrted ￿ngdorn Generally Accepted Accountsng Prn¢tre,' and
have been prepared in accordance the requirements of the Companies kt 20(￿.
Basis for oplnlon
We conducted our audit in accordance Intemabonal Standard5 on Aud￿ng (UK) (ISAS (UK)) and aPpI￿able law.
Our resp)nsibilibes under those stsndards are further descrited in the Audrtorfs resp)nsitM'lrties for the audit of the
financial ststements section of our rewrt. We are independent of the chanty in accordance wrth the ethical
requirements that are relevantlo ouraudrt of the financial statements in trte UK, including the FRC'S Ethical Stsndard.
and V￿ have fulfilled our olher ethical resp)nsitslibes in ac￿rdanCe these requirements We believe that the
audrt evidence have obtsined ￿ sUffiC￿nt and appropnate to provKle a basis for our wnion.
Con¢lusion$ relating to going ¢onGem
In auditing the financial ststements. we have concluded that thetrustees, use of the going concem tosis ofaccounting
in the preparation ofthe financial ststements is appropnate.
Based on Ihe V*Drk we have Ferfomled, ve have not idenkn'fied any material uncertainties relats'ng to events or
conditons that, indmdually or collectwely, may cast signrficant thuL* on the charity's abilty to contsnue as a going
concern for a Fencrfj of at least ty￿fve months from when the financial statements are authonsed for issue.
Our ￿S[()nSItI1itles and the responsitx"lities of the trustees with respect to wng concem are deserited in the relevant
sectsons of this reporL
Other Inlorniatlon
The other information comprises the infonnats'on included in the annual rewrt other than the financial statements and
ourauditofs report thereon. The trustees are responsitle forthe other information contained wthin the annual report.
Our opinion on the financial ststements ￿e$ not cover the other informatson and, except to the extent othemse
explicrtly stated in our rep)rt. we th> not express any form of assurance conclusion thereon.
Our resp)nsibility is to read the other infomiatr*n and. in doing so, considerwttether the other information is materially
inconsistentwith the financial ststements or our knowledge otrtained in the course ofthe audit, or othenmse appears
to b8 materially misstated If identsfy such matenal Inconsistencies or arparent matenal misststements, we are
required to determine whether this gives nse to a matenal misstatement in the financial statements themsefves If.
based on the work we have performed, V** conclude that there is a matenal misstatement of this other infoNnab'on.
V￿ are ￿qUired to reFort that fact.
We have nothing to rep)rt in this regard.
Page 18

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BUCKINGHAMSHIRE COMMUNITY FOUNDATION
Opinions on other mattavs prescribed by th• Companies Act 2006
In our opnion, based on the ￿￿rk undertaken in the course of our aud￿.
the informatson given in the trustees. report forthe financial yearfor%thi¢h the financial statements are prepated.
which includes the directors. rewrt and the strategc rep)rt prepared for the wrroses of company law. is
consistent vnth the financial statements., and
the strategic rewrt and the directors, rep)rt included wrthin the trustees, report have been wepared in
accordance wrth appkable b8gal requirements.
Matters on ￿leh we are required to report by exception
In the light of the kn￿edge and understanding of the group and parent charrtable ccmpany and rts environment
obtsined in the tt+urse of the audit. V￿ have not identsfied material m6ststements in the strate9ic rep)rt or the
directors. report inclutsd vthin the trustees, report.
We have nothing io ￿port in respect of the following mattets in ￿latron to whKh the Companies Act 2006 requires us
to report to you ff. in our opinion.
adequate accountiry recor(ts have not kep( or retums adequate for our audrt have not been received
from branches not visited ty us", or
the parent ¢harrtatle ¢ompany's financial statements are not in agreemnt with the accounting records and
retums., or
certain disclosu￿S of Irustees, remuneratson specffied ty law are not made,. or
we have not recerrfed all the infomiabon and explanabons ￿ require for our audit
Responslbllltles of trustees
As explained more fully In the statement of trustees, responsibilths, the trustees, vtho are also the directors of the
group and parent charitable company for the purFose of company law, are reswnsible for the preparation of the
financial statements and for being satsfied that they gtve a true and lair Mew, and for such intemal wntrol as the
tnjstees detemine is necessary to enatAe the ￿e[￿ratIOn of financkql ststements that are free from malerial
misststement. whether due to fraud or error.
In p￿ParIng the financial statements, the trustees are reS￿nSIble for assessing the group and parent charitsble
company's ab'lty to continue as a going concern, disclosing, as applicat4e, matters related to wing concern and
usingthe g)ing ¢oncem basts ofa¢¢ountsng unless the trustees ertherintend to liquidatethe groupor parent charitable
company or lo cease operat￿n5. or have no ￿aliStiC altemative t￿1 to do so.
Auditors respoftsib'lth'es for the audit of the financial ststements
A further descripts'on of our reSwnsib'l￿es is availatle on the Financial ReForts'ng Council's wetErte at..
hllPS.Ilwww.frc.org uklauthtorsresponsibilrties This descrioion fonns part of ￿r audttorfs rep)rt
Page 19

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED
TO THE TRUSTEES OF BUCKINGHAMSHIRE COMMUNITY FOUNDATION
Extent to which the audit was consider•d Capab￿ of detecting irregulariti￿, including fraud
Irregulanties, including fraud, are instsnces of non-comFAian¢e la￿ and regulatsons We design procedu￿$ in
line v￿h our resFonsit41thes, oullined aix)ve and on the Financial ReFOrting thuncil's I￿*bS￿. e, to detect material
misslatements In resFect of irregulanties. including fraud
We obtsin and upjate our under5tsnding of the entity. its actmb'es. its control environment. and likely future
developments, including in relabon to the legal and reguktory frarneW￿rk aprAicable and how the entty Is complying
vnth that framew)rk. Based on this urKler5tsnding. we identfy and assess the nsks of material misstatement of the
financial statements, vthether due to fraud or error, design and perform audrt procedures resp)nsive to those nsks.
and oblain audit evi(knce that is suificient and aFpropriate to provide a basis lor our opinion. This includes
consideratson ofthe nsk of acts by the entrty that *Ere contrary to applicaÈ4e laws and regulations, including fraud.
I n resp)nse to the risk of Irregularrt￿s and non<omplkance vAth laws and regulations. including fraud, we designed
pr(Kedures Vth￿h included.
Enquiry of management and those charged Vérth govemarKe around actual and Fr>tentpl likngation and claims
as W￿11 as actual. suspected and alleged fraud.
Reviewing minutes of meetsngs of those charged wrth gO*man￿..
Assessing the extent of compliance wrth the la￿ and regulations considered to have a direct material effect
on the financial ststements or the operabons ofthe entsty through enquiry and insFeCt￿n.
Rewewng financial statement disclosures and testsng to sUp￿rtIng documentats'on to assess compliance
V￿th applicat4e law5 and regulats"ons'.
Performing audit work over the risk of management bias and o4emde of controls, including testing of Joumal
entries and other adjustments for appropnateness, evaluating the ￿SInesS rationale of Signrf￿ant
transacbons outside the normal course of bjsiness and remewng accountsng estsmates for Indicators of
potentRI txas.
Because of the inherent limitstions of an audrt. there is a risk that we wll not detect all irregulartknes, including those
leading to a matenal misstatement in the financial statements or non-compliance wrth regulation. This nsk increases
the more that Compliance a lawor regulatson is removed from the events and transactions reflected in the financial
ststements, as we wll te less likely to become avfare of instances of nOnvcomF￿1anCe. The risk of nol detecbng a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may invoP4e collusion.
forgery, Intentional omissKsns, misrewesentations, or the overnde of intemal control.
Use of our report
This report Is made solely to the ￿0UP and FArent Charrtab￿ companys Thmters, as a t£*dy. in accordance with
Chaoef 3 of Part 16 of the ComFfjnies Act 20(￿. Our audrt ￿rk has ieen undertaken so that V￿ might skte lo the
groupand parent Ch3rrtat￿e company's member5 those matters Ive are required to state to them in an auditors, reFQrt
and for no other purpose To the fullest extent pemirtted by law. we th) not a¢¢ept or assume reswnsiblty lo anyone
olher than the group and parent charitable company and the group and parent chantable company's members as a
bJ<ty, for our audit vA)tk. for this report, or for the OF4nions have formed.
Christopher Nisbet BA(Hons) FCA (Senior Slatutory Auditor)
for and on behalf of Azets Audit Services
0611212024
Charteied A¢¢ountants
Statutory Auditor
SurtesB&D
Bumham Yard
Beaconsfield
Bucks
HP9 2JH
Page 20

0￿0
¢7)NO
com
OfDLO
o>m
7J
Page 21

(N (3)
(￿￿(0
Page 22

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024
Balance Sheet as at 31st March 2024
Note
2023
Fixed assets
Tangible as*ts
Investments
17
18
8.863
12,1tA,199
11,034
g,533,695
12.115.062
9,544,729
Current assets
Debtors falling due after one year
Debtors falling due wthin one year
Cash at bank and in hand
19
19
39,1￿)
221.394
1,656,270
89,253
147,907
2,471,586
1,915,794
2,708,746
Creditors.. amounts falling due
within one year
[78,￿3)
(87,555)
Net current assets
1,836,891
2,621,191
Total assets less current liabilities
13.951,954
12,165,920
Capitsl funds
Endowment funds - general
Income funds
Restricted funds
Unrestricted funds
9,746,804
8,659,627
1,383,512
2.821,638
1,815,681
1,690,612
13,951,954
12,165,920
The directors ackn￿edge their responsibilities for comptying wth the requirements of the Companies Act 2006 wth
respect to accounting records and the PreParat￿n of financial statements.
The financial statements were apprcved and authorised for issue by the Trustees on 0611212024
v?
Moir ste￿art (Chairman)
Trustee
Company registration no. 03662246
Page 23

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
CHARITY BALANCE SHEET
AS AT 31 MARCH 2024
Note
2023
Fixed assets
Tangible assets
Investments
17
18
8,863
12.106,199
10,100
9,533,695
12,115,062
9,543,795
Current assets
Debtors falling due after one year
Debtors falling due wthin one year
Cash at bank and in hand
19
19
,13)
221,394
1.656,270
89,253
146,520
2,415,127
1.915,794
2,650,900
Creditors: amounts falling due
within one year
20
(78,￿)3)
(79,613)
Net current assets
1,836,891
2,571,287
Total assets less current liabilities
13,951,954
12,115,082
Capital funds
EndowTnent funds- general
Income funds
Restricted funds
Unrestricted funds
22
9.746,804
8,659,627
23
1.383,512
2,821,638
1,764,843
1,690,612
13,951,954
12,115,082
Page 24

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR TO 31 MARCH 2024
2024
2023
Notes
Cash flows from operating actNities
Cash generated froml(absorbed by) OFErations
32
553,999
1,666,723
Investing activities
Purchase of tsngible fixed assets
Purchase of investments
(11,027)
{￿3,860>
(912,500)
70,255
387,818
(5,712)
(980,946)
Royal AItErt Hall Box Legacy received
Proceeds on disposal of investments
Investment income received
66,960
304,816
Net cash generated froml(used in) investing
activities
(1,369,314)
1614,882)
Net cash used in financing activities
Net increaselldecrease) in cash and cash
equivalents
(815.315)
1,051,841
Cash and cash equivalents at beginning of year
2,471.586
1.419,744
Cash and cash equivalents at end of year
1,656,270
2,471,585
Relating to:
Cash at bank and in hand
1,656.270
2,471,586
Page 25

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Buckinghamshire Community FoUndatic￿ FS a private company limited by guarantee incorporated in
England and Wales. The registered Offi￿ is New Road, Weston Turville, Aylesbury, HP22 5QT
1.1 Accounting convention
The financial statements have b*n prepared in accordan￿ wth the chartys governing dccument,
the Companies Act 2006 and "Accounting and Reporting by Charrties". Statement of RecommerKled
Practice applicable to charities preparing their accounts in accordan￿ wth the Finance Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effethe 1 January 2019) ' The
charity is a Public Benefit Entty as define(I by FRS 102
The financial statements are prepared in sterling, is the functional currency of the charty.
Monetary amounts in these financial statements are round￿1 to the nearest £.
The financial statements have been prepared under the histOTi(zI c05t convention, modffied to
include the revaluation of investments and certain financial instruments at fair value. The principal
accounting poI￿leS adopt￿1 are set out ￿1C￿.
1.2 Going concem
At the time cé approving the financial statenEnts. the trustees believe that Ihe charty has adequate
re9jur￿5 and a reasonable expectation of future in(L)me to continue in orxrational existen￿ for the
foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in
preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the diSCre￿n of the trustees in furtheran￿ of their
charilable obl￿t￿eS.
Restrict￿ funds are subJect to SFecific conditions by donors as to howthey Trray te used. The
purFx)ses and uses of the restricted funds are set out in the notes to the financial statements.
Endowrnent funds are SUbj￿t to Vctr￿ condf(i(Ms by donors that the capital must maintained
by the charty.
1.4 Incoming resources
Incoming rescrtjrces are made up of fwr revenue streams - donabons and legacies, events income,
investment income and income from commercial trading 0[￿ratiOnS.
Income from donat￿nS and legxies, Ir￿lUdir￿j caixtal grants, is included in incoming resources
. The group b￿oMeS entrtled to the donatic￿, I￿acY or similar Incorr￿ and any condrtions for
re￿Ipt are met..
b. The Trustees are rea$(￿ablY certain they￿711 r￿1ve itr, and
c. The Trustees are reasonably certain th* the value can be reliably measured.
Page 26

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
When the donors swcifythat donatK)ns and193acies. inctuding capital grants, are for particular
restricted purposes, which do not amount to pre-condrtions regarding entrtlement this income is
included in incoming resources of restr￿￿1 funds.
cC￿mercIal trading operatic￿5 relate to the actNrties of the tradirvJ subsidiary. The accounting
policies of the subsidiary are in line wth the gr￿P and income is iecoJnised in accordan￿ wth the
atxjve, where relevant.
Events income is recognised at the point at which the event tske5 place. Income is deferred when it
has been r￿e￿Ved but either the entrtlement to it has not yet crystallised, or it relates to fLrture events
which have not yet ¢xcurred.
Investment income is r￿c￿nISed in xcordance wth the period to vknich li relates. Incoming
resour￿$ from Endo￿nents (e.g. Dividernls and interest) are all treat￿ as restricted flow through
funds.
1.5 Resources expended
Liabilities are reccgnised as Expendi￿re as soon as there is a legal CY constructive obligation
commrtting the charity to that expendtture. it is probable that a transfer of economic benefts wll be
required in settlement and the amount of the obligation measured reliably. Expenditure is
ac£cunted for on an a￿rualS basis and has been classffid under headings that aggregate all cost
related to the category. Where costs f2nrM)t be dirertly attritxrted to particular headings they have
been allocat￿ to actNities on a basis consistent ￿1th the use of resources.
Grants offered subject to condrtions which have not been met at the year end date are noted as a
o)mmrtment lyjt not accrued as eX￿ndItUre.
1.6 Tangible fixed assets
Tangible fiKed assets are initially measured at cost and subsequently measured at cost or valuation,
net of depreciation and any impairm￿tt b&se&
Depreciation is recognised so as to ￿rte off the cc6t or valuation cl assets ￿s5 their residual values
over their useful Ives on the followng bases:
Ftxtures and fittings
Straight line over 3-5 years
C¢xnputers
Straight line over 3-5 years
The gain or loss arisirKJ on the diswsal of an asset is determined as the differen￿ bthen the sale
proceeds and the carrwng value of the asset and is rwnised in net ino)nEI(expendrture) for the
year.
1.7 Fixed asset investments
BCF'S polrcy is to hold investments primarily in order to generate income and caprtal grovrth for the
SUPFX)rt of rts work over a long-term period. The effect of this FX)licy is that ftxed a￿t investments
are shown at open market valuation in line wth SORP 'AC￿Unts'ng By Charties,. The SOFA includes
the net gains and Ic6ses arising on reValuat￿nS and disp)sals thrc￿g￿ut the year.
Page 27

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Realised and unrealised gains
Unrealised gains and losses arise then frxed assets for charty use or fixed asset investsnents are
included in the balance sheet at revalued amounts or market value. Realised gains and losses are
recognised when an asset is disp)sed of.
1.8 Impaiment of fixed assets
At each reporting end date, the chanty rewle￿ ts carrying amounts of its tsngible assets to
determine whether there is any indicatton that those asset5 have suffered an impairment loss. If any
such indication exists, the [￿0verable an￿Unt of the asset is ests"mat￿l in order to determine the
extent of the impairnEnt loss (rf any).
1.9 Cash and cash equiwdlents
Cash and (2sh equivalents include c2sh in hand. deFX)Sits held at call ￿1th banks, other short-term
liquid investments wth (xiginal maturrties of th[￿ rTK)nths (x less, and bank overdrafts. Bank
overdrafts are shown within boiiowings in current liabilrties.
1.10 Financial instruments
The charty has elected to apply the pr(wisions of ￿lon 11 'Basic Financial Instruments, and
Section 12 '0ther Financial InstTuments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are iecogniwl in the charivs bala￿e sheet vh)en the charty ￿comeS party
to the contractual provisions of the instrument.
Financial assets and liabilit.es are offset with the net amounts presented in the financial statements,
when there is a legally entor￿able right to set off the recognised amounts and there is an intention
to settle on a net basis or to realise the asset and settle the liabilty simultaneously.
Basic finanual assets
Basic financial assets, thich include debtors and (zsh and bank balances, are initially measured at
transaction pri￿ including transaction costs and are subsequently Carri￿ at amortIs￿ cost using
the eff￿t￿e interest methc(l unless the arrangement constibjtes a financing transaction, there the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classified as r￿e1Vable wthin one year are not amorb.s￿.
Basic finanaal liabilities
Basic financial liabiltties, including cr&Jitors and bank loans are inth'ally reccgni￿l at transaction
price unle&8 the arrangement (x)nst￿uteS a financing transaction, ￿ere the debt instrument is
Measur￿ at the present value of the future payThents discounted at a market rate of interest.
Debt instruments are subsequently carried at al￿rtIsed cost using the effethe interest rate
meth)d.
Page 28

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Trade credttors are obligations to pay f(x g(yJds or seryices that have been acquired in the ordinary
o)urse of OFerations from suppliers. Amounts payable are das&fied as current liabilities rf payment
is due wthin one year or less. If n￿. they are presentaj as non-current liabilrties. Trade creditors are
recognised inrtially at transaction 1x￿e and subsequently measured at amortised cost using the
eff￿t￿e interest method.
Derecognition of financial liakn"lities
Financial liabilib'es are der￿C￿n[s￿l then the chartvs contracbjal ci)ligations expire or are
discharged or Can￿1￿1.
1.11 Retirement benefits
Payments to defined contribution retirement beneftt schemes are charg8I a5 an expense as they fall
due.
1.12 Operating Leases
Rentals parable under operating leases. I￿lUding any lease incentives r￿e1ved. are charged as an
expense on a straight line basis over the term of the relevant lea*.
1.13 Donated seNces
Where rt is not too onerous to c£llect the informab-on, grfts in kind are It￿luded in the financial
statements at market value. The income is re(x)gnised wthin Activities for Generating Funds and the
expenditure is r8xJgnised in the relevant SOFA heading.
1.14 Basis of consolidation
The financial statements consolidate the results of the chartiy and its ￿llY owned subsidiary
Buckinghamshire Community Foundation (Kop Hill Climb) Limit￿ on a lirE-by-line basis. A separate
Statement of Financial Activtties and income and expendrture account for the charty has not keen
presented tecause the Foundation has taken advantage of the exeMpt"C￿ afford￿1 by S￿b"On 408
of the Companies Act 20C6 (see note 29).
1.15 Operating costs-fund management
The charitys unrestrirted operatiNJ c(x8ts are defrayed in part by charges transferred from the
restricted and endcwment funds to the unrestricted fund as management f￿. In previous years
these have tr￿en presented on the SOFA as income in the unrestrclt￿I fund and eX￿nSeS in the
restricted and end(Mment funds. A d￿l$lOn ￿4S taken for the year ended 31 March 2023 that these
would be Present￿ as a trartsfer funds. The prior year was restated accordingly
1.16 Taxation
The charity is exempt from (x)rwratK)n tax on i& charitable *wities.
1.17 Retirement benefits
The company 0￿rateS defined contribution a￿1 funded mult"*mI￿oyer defined benefft schemes on
behaff of certain employees. Contributi(ms are Charg￿ to the SOFA in the year they are made. The
schemes funds are admini*red by Tru&ees and are independent of the companls finances.
Page 29

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2. Critical accounting estimates and judgements
In the appliCa￿n of the chartvs accounting Folicies, the trust￿ are rquired to make judgements,
estimates and assumptions ab￿t the Car[￿ng amount of assets and liabilrt￿s that are not readily
apparent from other SoUr￿s. The estimates and a&S￿lat￿l assumpb.ons are based on historical
experien￿ and other factors that are considered to be relevant. Actual results may drffer from these
estimates.
The estimates and underlying assumptions are revi￿ on an ongoir¥J basis. Revisions to
accounting estimates are recogni￿￿ in the in ￿leh the estimte is r￿ised ￿ere the
revision affects only that or in the I￿r￿1 of the reVI￿n and future periods where the revision
aff￿ts both current and future ￿TIC#￿s.
The areas for vthich signrficant eStiMat￿n has ￿en appl￿ are cortsidered to be as follows..
2.1 Depreciation of tangible fixed assets
Depreciation is provid￿ in order to WTite off the cost less estimated resdual value of each asset
over rf(s estimated useful lrfe.
Management reawss the depreciation methods. useful lives and re￿dUal values ￿ere there is an
indication of a significant change in pattern by which the company exp￿ to consume an assef s
future economic benefrt.
2.2 Bad debt provision
Management make provision against any deb￿ thich is deemed to be wtentialty Irr￿0VerabIe.
This provision is revie￿ed on an annual basls and assessed for reasonableness.
Page 30

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
3. Donations and legacies
Unrestricted
funds
2024
Restricted
Endowment
funds funds general
2024
2024
Total
Total
2024
2023
Donations and gifts
Legacies
Grants
246.583
912.500
6.000
1.522.364
352.630
2.121,577
912,500
156,000
4.171,678
150.OCM)
218,519
1.165.083
1,672,364
352,630
3,1￿,077
4,390,197
For the year ended 31 March 2023
97,268
2,659,095
1,633,834
4,390,197
4,390,197
Donations and gifts
Gtfts
Donations
Gtft aid
6.4C
1,478,634
37,330
6,400
2,072,192
42,985
6,400
4,137,561
27,717
240,928
5,655
352,630
246,583
1,522,364
352,630
2,121,577
4,171,678
Legacies relate to the donation of a five seat box at the Royal Albert Hall
Grfts in kind relate to Servi￿5 provided to the Charity including accountancy and bcDkkeeping £6.400 (2023". £6,400).
The subsidiary runs a charitable event for wthich the services of approximately 3(K) volunteers are utilised to aid wth
the running. I n addition to the other voluntary services by a core management team to prepare for the event throughout
the year, these services have not currently been recognised in the financial statements of the subsidiaiy, nor these
consolidated financial statements due to the diff icuty in placing a value on these seNI￿s.
Grants receivable
Grants for core costs
Grants into restricted funds
6,C￿0
6,000
150,000
118,519
100,000
150,OC()
6.000
150,OCK)
156,000
218,519
Page 31

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
4. Other Trading
Unrestricted Restricted
funds
funds
2024
2024
Total
Total
2024
2023
Trading subsidiary income
234,645
234,645
274,280
234,645
234,645
274,280
The ￿OllY owned trading subsidiary BuckirvJhamshire Community Foundation (Kop Hill Climb) Limited (KHC Ltd),
incorporated in the United Kingdom (company number 09495670) vras sold for £1 on 7th February 2024. KHC Ltd
undertakes the operation of the Kop Hill Climb event vthich takes Pla￿ annually.
The summary financial performance of the subsidiary alone up to 7 February 2024"
Total
at7Feb
2024
Total
at31 Mar
2023
Turnover
Donations and gifts in kind
Event costs
Other costs
234,645
21,382
(110,261)
(18,158)
274,280
16,104
(149,728)
(23,049)
Net surplus before gift aid donations
Amount gift aided to the charty
127,608
(92,49n
117,607
(89,150)
Movement on subsidiarvs reserves in the year
35,111
28,457
The assets and liabilrties of the subsidiary on disposal at 7 February 2024 ￿ere.
2024
2023
Fixed assets
Current assets
Current liabilrties
7,857
78,092
935
57,845
(7.942)
Total net assets
85,949
50,838
Aggregate share capital and Teserves
85,949
50,838
Page 32

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Government and Local Authority Partners
Donations and grants receNed from the Govemment and l(xxl authorib'es into restricted funds
2024
2023
Buckinghamshire Council
Department for Culture, Media and Swrt
Arts Council England
Thames Valley Police
894.799
6,587
336
56,047
1,143,978
9,948
91,232
957,769
1,245,158
Page 33

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
6. Investments
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted
funds
2023
Restricted
funds
2023
Total
2024
2023
Income from investments
Interest r￿e1vable
67,153
66,144
242.749 309,902
11.772
77,916
48,363
24,683
Z22,172 270,535
9,598
34,281
133,297
254,521 387,818
73,046
231,770 304,816
7.Other income
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted
f unds
2023
Restricted
funds
2023
Total
2024
2023
External contract ￿￿k
Other
4,543
1,500
1,500
4.543
1,500
1,500
Page 34

Page 35

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
9. Charitable activities
2024
2023
Staff costs
427,437
5,342
5,328
2,126
7,199
1,966
43,352
2,225
2,868
361 ,465
4,769
2,450
2,117
6,390
1,ga4
29,294
841
Depreciation and impairment
I nsuran
Telephone &PPS
Subscriptions
Travelling
Computer costs
Staff recruitrnent
Training
Bad debts
1,￿2
Professional fees
2,376
12.626
6,4C()
13,230
5,455
54,035
16,536
1,765
7,036
6,400
17,100
3,253
Legal & consutsncy
Accountancy & bookkeeping
Audrtors remuneration
Bank charges
Returned donations
Sundry
5,026
608,501
451 ,802
Grant funding (see note 10)
2,021,518
2,271,610
2,630,019
2,723,412
Anal
sis b fund
Unrestricted funds
524,590
2,105,429
433,589
2,289,823
Restricted f unds
2,630,019
2,723,412
Page 36

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10, Charitable activities - Grant Funding
2024
2023
Grants to institutions..
55 grants of £10,000 and aly)ve (2023.. 32)
79 grants of £5.000-£9,999.99 (Z)23.' 94)
123 grants of £1,000-£4,999.99 (21Y23".146)
19 grants of £0-£999.9g (2023. 45)
666,940
507,541
3C(1,278
10,231
519,053
560,036
357,194
24,538
1,484,990
1,460,821
Grants to Individuals
243 grants of £1,000-£4,999.99 (2(Y23: 359)
340 grants of £0-£999.99 (2023.. 547)
383,504
153,024
575,619
235,170
536,528
810,789
2,021,518
2,271,610
The total grants paid to instttutions of £10,OC() and above during the year was as follow5..
2024
Communty Youth Ventures (2 grants)
Bucks Healthcare NHS Trust Charty (2 grants)
Wycombe Youth Action (3 grants)
Mama Bee Group12 grants)
Theatre Shed (2 grants)
caUd￿Ell Youth (2 grants)
Action 4 Youth
48,690
39,432
34,669
28,000
24.377
24,044
15,000
15,000
15,000
15,000
14,992
14,848
14,426
14,275
13,720
13.680
11,580
10,207
10,000
10,000
10,000
10,000
10,000
Caribbean Community Lunch Club
D￿vr Creative CIC
Global Media Initiatives
Oasis Partnership
7Roadlight CIC
Youth Concem
Brighter Futures Together
CreateED South East
Afghanistan and Centr21 Asian Association
Wycombe Wanderers
Hope For Justi
Chesham & District Community Association
1st Chesham Bois Scouts
1 st Eaton Bray Scouts
4th Beaconsfield Scouts
Buckingham Youth Clubs
Page 37

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Bucks Mind
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
Chiltern Open Air Museum
Curzon Centre
DASH Charty
Earthwatch
Horatios Graden
Irene Taylor Trust
Kings Church High Wycombe
Lindengate
Link Foundation
Lord's Taverners
Pace Centre
Pitstone Memorial Hall
Re-Engage
Restore Hope
Risborough Area Community Bus
Road Farm Countryways
Southcourt Baptist
stewkley Village Hall
Thames Valley Partnership
The Pastures Church
Wednesday Club Waddesdon
Westbury Community Shop
Wycombe Food Hub
Youth Enquiry Setvice
Page 38

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Audltotrs remuneratlon
20rJ
Fees payable to the audrtors:
Audrt of the annual awounts
13,230
17,1CKI
12. Trustees
None of the trustees c￿ any persons connethd tlem) rece￿￿ ary rerNnerakn or benefrts from
the tharty during the year. (2023." £0). £0 of expenses were reimbursed to tru* in the year. (2023..
£1,130)
Page 39

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Employees
Number of employees
The average number of persons employed bythe Foundation during the Year￿as..
3)24
2023
Direct chartiable
Administrative
Management
15
Employment costs
2024
2023
Wages and salaries
Social Securty costs
Pension costs
392.691
24.182
10,564
325,821
27,076
8,568
427.437
361,465
The Foundation has six full_tinE employees at year end, the remaining staff are parttime.
Key Management Personnel remunerabon in the year totalled £160.076 (2023 £148.881)
There Wds one employee those remuneration vrds bet￿n £80,000 and £￿,000. No other employees earned in
excess of £60,000.12023.'1)
The value of company pension contritrAJtions to money purchase schemes for employees whctse emoluments
ex￿ed £60,OCMJ was £1,761 (2023. £1,761)
One employee re￿iVed an ex-gratia payment of £2,194 on the termination of their employment, in recognition
of their contributson to the charity.
14. Net gains I losses on investments
Unrestricted Restricted Endowment
funds
funds
Funds
Total Unrestricted
funds
Endowment
Funds
Total
2024
2024
2024
2024
2023
2023
2023
Revaluation
investments
92,278
(85,948)
734.121
740.451
{115.126)
(379,972) (495.098)
Page 40

C TY C
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Page 41

Page 42

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Tanglble Flxed Assets- Consolldated
Planl and
Machinery
Fixtures and
fitbngs
Computers
Total
Cost
At 1 April 2023
Disposals
Additons
1.168
25,293
55,091
81,552
8.540
2.487
11,027
Al 31 March 2024
9,708
25.293
57,578
92,579
Depreaats"on and impaimient
At 1 April 2023
Depreaation charged in the year
Loss on disposal of KHC assets
234
21.286
48,998
2,518
70,518
5,342
1.618
7,8
At 31 March 2024
9,708
22.492
51,516
83,716
Carwng amount
Al 31 March 2023
934
4.007
6.093
11.034
At 31 March 2024
2,￿¢1
6,062
8,863
Tangiblg Fixed Assets- Charty
Fixtures and
filb-ngs
Compuler5
Total
Cost
Al 1 Apnl 2023
Additions
21.330
55.091
2.487
76,421
2,487
Al 31 March 2024
21.330
57.578
78.908
Depreaab"on and impaimienl
At 1 April 2023
Depreaab'on charged in Ihe year
17.322
1.206
48.999
2.518
66,321
3,724
Al 31 March 2024
18.528
51,517
70,045
carr￿ng amount
At 31 March 2023
4.008
6.092
10,1CO
At 31 March 2024
2.802
6,061
8,863
Page 43

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Fixed asset investments
Other fixed
Listed
asset
investments inNpstments
Total
Cost orvaluation
At 1 April 2023
Additions
9,533,695
903,860
826.3gg
(70,255)
9,533,695
1,816,360
826,399
(70,255)
912,51X)
Valuation changes
Disposals
At 31 March 2024
11,193,699
912,500
12,1C6,199
Carrying amount
At 31 March 2023
9,533,695
9,533,695
At 31 March 2024
11,193,699
912,500
12,1(￿,199
Listed investments
There are no investments outside the UK.
Listed investments represent amounts in pr(Aessionally managed Common Investment Funds.
The following inVest￿Ents represent than 5% of the pcrtfolio..
Fund for Endowment (Income Units).. £4,321,835
(2023'.£3,689,680)
CCLA COIF Charfties Investment Fund.. £6,871,865 (2023.. £5,844,015)
The historical cost of listed fixed asset investments at 31 March
2024 was £8.058.074 (2023. £7.225.065)
other fixed asset investments relate to a five seat ￿)X at the Royal Albert Hall
ich Vds a legacy donab.on to heart of Bucks
Investment in subsidiary
At 31 March 2023 the individual Charty included the assets as above, plus the £1 share in Buckinghamshire
Community Foundation (Kop Hill Climb) Limited ￿lch Wds a 1CKJ% subsidiary of Buckinghamshire
Community Foundation. The registered Offi￿ was New Road. Weston Turville, Aylesbury, HP22 5QT. The
company number is 09495670. On 7 February 2024 the suEx8idiarywas sold for£1. The financial
performance ofthe subsidiary until 7 February 2024 is shown in note 4.
Page 44

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Debtors- Group
2024
2023
Amounts falling due within one year:
Trade debtors
Other debtors
13,333
208,061
13,847
134,060
Prepayments and accrued ino)me
221,394
147,907
2024
2023
Amounts falling due after more than one year.
Other debtors
15,950
22,181
29,283
59,971
Accrued I nc£Jme
38,131
89,254
Total debtors
259,525
237,161
Debtors- Charity
2024
2023
Amounts falling due within one year:
Trade debtors
Other debtors
13,333
208,061
13,847
132,673
Prepayments and accrued income
221.394
146,520
2024
2023
Amounts falling due after more than one year.
Other debtors
15,950
22,181
29,283
59,971
Accrued I ncome
38,131
89,254
Total debtors
25g,525
235,774
Debtors are recognised at the settlement amount due less any provision for doubtfvl debts.
Prepayments are valued at the amount prepaid, calculated on a ￿nth by month basis.
Page 45

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
20. Creditors: amounts falling due within one year- Group
2024
2023
Bank overdrafts
Other taxation and social securty
Trade creditors
Other Cr￿ltorS
9,833
5.732
49,151
14,187
14,465
4.656
46,300
22,134
Accruals and deferred income
78,903
87,555
Creditors: amounts falling due within one year- Charity
2024
2023
Bank overdrafts
Other taxation and social securty
Trade creditors
9,833
5,732
49,151
14,187
14,465
4,656
46,300
14,192
Other Cr￿ltorS
Accruals and deferred income
78,903
79,613
Creditors and provisions are recogni$￿￿ where the group has a wesent obligation resulting from a past
event that wll probably result in the transfer of funds to a third party 2nd the amount due to settle the
obligation can be measured or estimated rel￿bly. Creditors and provisions are normally re(£Jgnised at
their settlement amount.
Page 46

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
21. Deferred income
Deferred income is included in the financllal statements as follow5".
Deferred income included wthin Credrtors- Group
2024
2023
Opening balance
Deferred in the year
Released in the year
1,425
2,791
1,425
(2,791)
(1,425)
Closing balance as at 31 March ￿24
1,425
There was no deferred incOff￿ wthin the charity.
Page 47

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Page 55

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
26. Restricted and Endowment Funds
ACE Lets Create Jubilee Fund
A Flow-through Fund to support voluntary and community groups to develop creative and cultural activities as
part of the Queen's Platinum Jubilee celebrab'ons in June 2022
Anchor Community Connection Fund
A Flow-through Fund to support communty focrfj projects.
Arts and Culture Fund
A Thematic Flow-through and an Endowment Fund enabling multiFAe donors to support projects relating to
Art and Culture across Buckinghamshire.
Arts Fund
A Flow-through and an Endowment Fund in agreement vrith a single donor to support projects relating to Art
and Culture across Buckinghamshire.
Aubrey-Fletcher Fund
A Flow-through and Endowment Fund for donor alfvised grant giving with priorities around heritage and
young people
Bahlsen Community Fund
A Flow-through Fu nd for donor advised community food projects.
BCDF Fund
A Flow-through Fund to used to support the employment of dementia nur5e5 Within Buckinghamshire.
BCF (KHC) Limited
A Flow-through Fund to support general charitable needs, especially in the Pnnces Ristxjrough area.
BCRA - Bucks Coronavirus Response Appeal - Restrictred to groups
A Flow-through fund to support organisations in crisis due to the Covid-19 pandemic.
BCRA- Bucks Coronavirus Response Appeal - Restricted for Individuals
A Flow-through fund to support Individuals affected by the Covid-19 pandemic.
Big Heausurviving Winter Fund
A Flow- through Fund for groups supwrting ￿Ople struggling with fuel povety.
BP Collins
A Flow-through Fund to support local community groupslcharities within Bucks.
British Red Cross Fund
A Flow-through Fund supporting community vRrm spaces and food propcts.
Buckinghamshire Capacity Fund
A Flow-through fund to award one large partnership grant for a wellbeing programme.
Buckinghamshire Emergency Assistance Fund
A Flow-through Fund to provide individual cnsis grants to residents of Buckinghamshire eX￿rIencing a short-
term crisis related to the Coronavirus pandemic.
Page 56

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Bucks Army Reserve and Cadets. Fund
A Flow-through and an Endowment Fund to suptK)rt ex-servicemen and theirfamilies.
Bucks Big Society Bank
A Flow-through Fund for the Fmvision of loans to community groups.
Bucks Building Society
A Flow-through and an EndowrrEnt Fund for general charrtable needs, as agreed with Bucks Building
Society.
Bucks Coronavirus Response Appeal
A Flow-through fund to support organisations and individuals in crisis due to the Covid-19 pandemic.
Bucks Coronavirus Stabilisation Fund
A Flow-through fund to support organisations to recoverl stabilise following the Covid-19 pandemic.
Bucks Council Employee Hardship Fund
A Flow-through fund to support individuals in crisis as idenb'fied by the th)nor.
Bucks Data Exchange Admin Fund
A grant to support the costs of an employee at Buckinghamshire Community Foundation to manage the
Bucks Data Exchange
Bucks Masonic Fund Donor Advised
A Flow-through funded by the Bucks Masonic Endowment Fund for general chantable needs with recipients
decided by the donor.
Bucks Masonic Fund Grants Panel
A Flow-through funded by the Bucks Masonic Endowment Fund for general charitable needs with recipients
decided by grants panel.
Bucks Playing Field Association Legacy Fund
A Flow-through and Endomnent Fund created as the result of a dormanttnjst transferto supwrt recreation
facilities.
Burrell Fund
A Flow-through and an EndowrrEnt Fund to SUPIK)rt chariti'e5. community groups or organisations within
Bucks.
Champniss Fund
A Flow-through and an Endowment Fund to supwrt general charitable needs. especially youth and swrt.
Community Investors
A Flow-through and Endowment Fund to facilitste giving by local business in order to suwort general
charitable needs and the development and growth of the Community Foundation
Communitysafety Fund
A Flow-through Fund to support poriects addressing the commuinty safety priorities of the donor.
Crisis Fund
A Flow-through fund to support individuals in crisis.
Page 57

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Cummings Fund
A Flow-through and an Endowment Fund to suptx)rt local community groU[￿lCharltleS within Bucks.
David Laing
A Flow-through and an Endowment Fund to supp)rt general charitable needs.
DCMS VCSEP Fund
A Flow-through Fund supporting community warm spaces, food projects and homelessness.
De Soutter Medical Fund
A Flow-through Fund to support projects related to disabilrty, Education and Training health and social
welfare
Diamond Jubilee Fund
A Flow-through Fund for general charitable needs as agreed with the (k)nors.
ESRI UK
A Flow-through Fund to support general charitable needs in the Aylesbury area.
FamilyAngels
A Flow-through Fund to support workn'ng families in short-term crisis.
Flood Recovery
A Flow-through Fund to help grou￿ and individuals affected by floods.
Gawcott
A Flow-through Fund to support communty projects in the parishes within 5km of the Gawcott Fields Solar
Project.
Gillian King Fund
A Flow-through and an Endowment Fund to suptK)rt general charitable needs as agreed with the donors.
Green Communty Fund
A Flow-through Fund to support environmental projects.
Green Schools Fund
A Flow-through Fund to support school councils or similar student L￿dieS wth environmental improvement
schemes.
Gurney Fund
A Flow-through and an Endowment Fund to supwrt general charitable needs. esFecially health and
environment.
Hartmann Fund (Donor Advised)
A Flow-through fund to support general charttable needs with the reci￿entS chosen by the donor.
Health and Well-Being Impact Fund
A Flow-through and Endowment Fund enabling multiple donors to SUp￿rt projects relating to health and
welltrEing across Buckinghamshire.
Page 58

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR AHkY&AIVDED 31 MARCH 2024
quj
A Flow-through Fund focussed on reducing heatth inequalrties that impact on the life eX1￿CtanCY and quality
of life for some people from ethnic minority communities across Buckinghamshire
HealthyAgeing Fund
A Flow-through Fund to support communty-tk8sed projects vthich improve social connectedness for older
adu Its
Helping Hand Fund
A Flow-through Fund to support individuals in Buckinghamshire who are experiencing financial insecurity or
hardship
Helping Hand Fund for Afghanistan
A Flow-through Fund to coordinate the collection of donations from across Buckinghamshire to supwrt newly
arrived refugees from Afghanistan
Helping Hand - Ukrainians in Bucks
A Flow-through Fund to coordinate the collection of donations from across Buckinghamshire to supp)rt newly
arrived refugees from Ukraine
High March Ball Fund
A Flow-through Fu nd for distritNJtion by donor advised grants.
High Sheriff Fund
A Flow-through fund to support donor instructed community projects.
John Bedford Charty Fund
A Flow-through and Endowment Fund to support older peoFAe living in Ayle5bury who are experiencing
hardship
Keizner Fund
A Flow-through Fund to support charits'es, communty groups or organisations within Bucks.
Kids in Sport Fund
A Flow-through and an Endowment Fund to supwrt communrty grou￿ providing swrts opwrtunities to
young people in Buckinghamshire.
Kop Hill Climb Grants Fund
A Flow-through Fund to give away money raised at the Kop Hill Climb event
Levs Talk about Cancer Iformerly NHS Help Us. Help You Fund)
A Flow-through Fund supporting projects related to cancer outcome inequalrties.
Lieutenancy Fund
A Flow-through and Endowment Fund for distr1t￿tIOn by th)nor advised grants.
Love Bucks
A Flow-through Fund to support general charitatle projects throughout Buckinghamshire.
M&G Investment Bank Fund
A Flow-through fund to support community I￿ami spaces and food projects.
Martin Baker
A Flow-through Fund for groups working with young ￿Ople to help prepare them ready for work.
Page 59

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR &FLE YEAII.E54DED 31 MARCH 2024
Ilvray
A Flow-through Fund for groups focussing on cohesive and supwrtive families and home environments,
nutrition and healthy food. conservation and the outdoors. general health and wellbeing, education. LGBTQ+
and emplyment and skills
Moving Our Communty
A Flow-through Fund to support Covid recovery through physical activity.
Mulberry Fund
A Flow-through and an Endowment Fund to supw)rt general charitable needs as agreed with the donors.
National Lotterycommunity Fund - Policy & Insight
A grant to support the costs of a full ts'me employee at Buckinghamshire Community Foundation to provide
policy and insights to the local charitable sector.
NET Coronavirus Appeal
A Flow-through fund to support organisations with their response to the Covid-19 pandemic.
Newsquest Cash for Charities Fund
A Donor Aoknsed Flow-through Fund to distribute funding to organisations across the UK, as directed by the
donor.
Nic Willoughby Fund
A Flow-through Fund to support grassroots sports projects in Buckinghamshire.
Olney British School Fund
A Flow-through and an Endowment Fund to provide further educational assistance supwrt to young people
living in Olney.
Ostrer Fund
A Flow-through and an Endowment Fund to suptK)rt general charitable needs.
Peter Cundill
A Flow-through Fund to support health and wellbeing. arts and culture and education and training.
Police Property Act Fund
A Flow-through Fund to support organisations whose work aligns the strategic objectives of the Police
and Crime Plan for the Thames Valley 2017-21.
Prevention Matters
A Flow-through Fund for groups working with vulnerable adults.
Rectory Foundation Iformerly known as Rectory Homes)
A Flow-through Fund to support general charitaLle needs as agreed with the donors.
Rothschild
A restricted fund to provide specrfic development roles for Buckinghamshire Community Foundation
Rowland Education Fund
A Flow-through Fund to te used to fund forrr￿1 education in South Bucks and High Wycombe.
RSET
A Flow-through and Endowment Fund to support organisations working with young people in
Buckinghamshire.
Page 60

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR [HE YEAR FN9ED 31 MARCH 2024
aving
Ives
A Flow-through Fund to support projects which focus on preventing male suicide.
Sherling Donor Advised Fund
A Flow-through Fund to support organisations as directed by the donor
Sherling Sports Fund
A Flow-through and an Endowment Fund to suptK)rt general charitable needs. estEcially 5tM)rts projects.
Single Donations
A Flow-through Fund to manage one off rk)nations which th not relate to any other funds, to be awarded in
specific grants.
Slough Social Fund
A Flow-through and an Endowment Fund to supwrt general charitable needs in the South Bucks area.
South Bucks Association for the Disabled Fund
A Flow-through and Endowment Fund to support FEople living wth a disabilty and their families.
Splash Fund
Flow-through Fund to SUPFX)rt Education. Health and Wel1t￿Ing, Isolation and Disadvantage.
stoke Park Community Fund
A Flow-through Fund prioritising young people in South Buckinghamshire.
Thematic Fund - Arts & Cutture
A Flow-through Fund enabling multiFAe donors to support projects relating to arts and culture across
Buckinghamshire.
Thematic Fund- Education & Skills
A Flow-through Fund enabling multiple donors to support projects relating to education and skills across
Buckinghamshire.
Thematic Fund - Poverty & Isolation
A Flow-through Fund enabling multiple donors to support projects relating to FX)verty and isolation across
Buckinghamshire.
Thematic Fund - Safe & Cohesive Communities
A Flow-through Fund enabling mUlti￿e donors to support projects relating to safe and cohesive communities
across Buckinghamshire.
Veolia Water Technologies Fund
A Flow-through Fund to award donor-advised grants to water related communrty projects.
Voluntary Sector Resilience Fund
A Flow-through fund to support charitable organisats-ons managing financial difficulties as a result of
increased costs.
Walter Hazell
A Flow-through and Endowment Fund to improve education, lrfe skills and employabilty, reduce isolation &
disadvantage and focus on povety, physical and mental health, wellbeing and safety.
Page 61

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR YEI.RENDED 31 MARCH 2024
A Flow-through Fund to support general charitatle needs.
Windhill Fund
A Flow-through and an Endowment Fund to supw)rt charitable projects in Princes Risborough, Monks
Risborough and health projects countywide_
Wycombe Kids
A Flow-through Fund for groups working with young children in High Wycombe.
Wyke Fund
A Flow-through and Endowment Fund transferred from a dormant fund to SUPFX)rt isolation and disadvantage,
community swrts, heaf(h and wellteing.
Young Futures Admin Fund
A restricted fund to provide funding for the administration of the Young Futures Fund
Young Futures Grants Fund
A Flow-through Fund to support young individuals across Buckinghamshire
Young People's Wellbeing Fund
A Flow-through Fund to support people under 18 to improve their mental health.
Youth Bank
A Flow-through and an EndowrrEnt Fund for projects selected by young I￿Ople.
Page 62

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
27. Financial commitments• guarantees and contingent liabilities
Contingent Liabilities
The Bucks Big Scciety Bank Fund provides loan finance to registered and unregistered charities, social
enterprises and other bodies through Buckinghamshire Community Foundation. The balan￿ of the
Bucks Big Society Bank Fund at the year end is £203,633 (2023'.£203,633) Of this amount, £150,000
represents funding that ￿aS originally ieceive(I from Bucks County Courril (now replaced by
Buckinghamshire Council). Although this treated as income at the time of receipt, the fact that it is
covered by a Loan Agreementwth Buckinghamshite COU￿11 meansthat it could potentially ￿ iepayable
to them on 22nd April 2031. It ￿ therefore a contingent liability.
Grant Making Commitments
At 31 March 2024 (as in 2023) all grants offer￿1 but yet paid had b*n xcrued (see note 18).
28. Pension Commitment
The charty operates a defined contribution pension ￿heMe. The pension costs charged to the incrjme
statement represent contributions payable by the chanty to the fund in the year and amounted to £10,564
{2023.' £8,568)
29. Operating lease commitments
At the reporting end date the charty had outstanding cc*nmitments for future minimum lease payments
under non-cancellable operating leases, vthich fall due as follow5..
2024
2023
Within one year
Be￿een and fNe years
13,etJo
,7(X)
13,800
7,475
21,275
During the year £13,800 vrds paid as operating lease costs in the year (2023.. £13,800)
30. Related party transactions
During the year the Charty entered into the followng transactions wth related parties".
The trustees made unconditional donations of £440 (2023.. £10.315) and restricted donations of £0 (2023..
£10,200) to the Charity
The subsidiary. Buckinghamshire Community Foundation (Kop Hill Climb) Limited th)nated £105,111 to
the Charty during the year (2023. £89,150).
One ofthe Trustees, L Wojd, is a partner in BP Cc41ins. DuriThJ the year BP Collins donated £10,440
(2023. £10,000)
During the year, addIt￿nal donations without condib'ons, vEre receNed from related parties totalling
£25,175 (2023.. £20,39n
Page 63

BUCKINGHAMSHIRE COMMUNITY FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
31. Parent charity surplus
As permitted by section 408 of the Companies Act 20C6, the statement of financial actNities of the parent
charity is not presented as part of these financial statements_ The parent charitys net movement in funds for
the year an increase of £1,445,297 (2023.. increase of £1,192,292)
32. Cash Eenerated from operatlons
2024
2023
Surplus for the year
1.786.034
1.204.963
Investment income recognised in statement of f inancial actwities
Fair value gains and losses on investments
Depreciation and impairment of tangible f ixed assets
Loss on disposal of Kop Hill Climb Ltd
(387,818)
(826,399)
5,342
7.856
(258,6g2)
(531,532)
5,098
Movements in V￿rkn.ng capital
Decreasel (increase) in debtors
(Decrease)l increase in creditors
(22,364)
(8,652)
28,585
3,628
553,999
452,050
32. Analysis of changes in net funds
The charty had no debt during the year
Page 64