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2023-12-31-accounts

REGISTERED COMPANY NUMBER: 03688829 (England and Wales) REGISTERED CHARITY NUMBER: 1076750

REVISED

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE FOUNDATIONS TRUST

Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH

THE FOUNDATIONS TRUST

CONTENTS OF THE REVISED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Revised Statement of Financial Activities 6
Revised Balance Sheet 7 to 8
Notes to the Revised Financial Statements 9 to 16

THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

This report contains a directors' report as required by company law.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are to advance the Christian religion and promote Christian theology in accordance with the Bible. More specifically, the Foundations Trust provides leadership and support for a range of connected projects based from the twelfth-century Round Church in the centre of Cambridge, exploring the relationship between Christianity and culture. The charity aims to explore the implications of the Christian religion for the human experience, and to trace the way an understanding of our shared human questions helps to introduce Christianity.

Significant activities

(a) Cambridge Ministry. The Round Church in Cambridge which hosts:

Public benefit

The trustees have considered the Charity Commission's general guidance on public benefit and, in particular, its supplementary guidance on the advancement of religion for the public benefit. The "Objectives and Activities" section of the report (above) provides a brief summary of activities undertaken together with a confirmation that the Trustees have had due regard to the general guidance on public benefit.

Visitors to the Round Church, by reading the exhibition and watching the film, hear of the positive contribution which Christianity has made in our culture from the foundation of the universities, the development of modern science, the development of humanitarian tradition and the rule of law and constitutional government.

Locals are reminded of Cambridge's significant religious history, something which is not a particular focus for any other tour providers in the vicinity.

Attendees at our events are all encouraged to think carefully about how they can make a positive contribution to society and how they can be better followers of Jesus Christ.

Volunteers

We have been grateful for the dedication of our Doorkeepers who man the welcome desk at the front of the church, our Guides who provide walks, those who help lead discussions in the Study Centre, those who take part in event planning teams, and those who speak at our seminars and events.

Page 1

THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRATEGIC REPORT

Achievements and performance

Achievements

2023 saw the continued roll-out of the refreshed vision and activities planned in conjunction with our reorganization whose new name - The Foundations Trust - had been formally registered in the Spring of 2022.

In particular the Spring of 2023 saw the launch of Life in the Round, the project which provides a new expression of our regular public events considering the relationship between contemporary culture and Christianity. Our first event in May celebrated the King's coronation with music and spoken word reflecting on the Christian significance of the coronation service. Life in the Round also hosted a summer series of film nights with discussion. These events provided additional profile to the Visitor Centre, and vice versa.

Summer 2023 saw the launch of Cambridge Apologetics, the project dedicated to equipping local Christians as they engage the thinkers around them with the hope of Christianity. Our summer conference took place at the Old Divinity Schools, St John's College, and served as a helpful way to build new relationships and reengage existing friendships in this area of work which has been so central to the life of the charity for 20 years.

Cambridge Apologetics hosted a conference track for academics in partnership with our university ministry, which itself continued to consolidate its regular activities, which included both the ongoing development of the Study Centre with additional display bookcases, and the hosting of another Forming a Christian Mind conference, at St Catharine's College, entitled "Speaking of Hope", with academic speakers Professor David Lyon (Sociology), Dr Anna Nickerson (Literature), and Dr Chris Willmot (Biology) responding to a paper from Dr Daniel Strange (Theology). The conference continues to act as a key hub for wider postgraduate student ministry networks nationally and internationally.

Internally, we appointed a short-term contractor as a development consultant whose work included a review of our communications, and the establishment of a new contacts database and a refreshed approach to monthly newsletters.

Financial review

Financial position

Unrestricted income in the year totalled £154,637 (2022: £173,164). This position continued to reflect the impact of the ongoing pandemic upon our activities, which have historically been dependent upon visitor numbers.

At the end of the year, the cash at bank was £88,197 (2022: £116,228).

Reserves policy

Our aspiration is to reach a point where we will always hold three months of staff salaries in reserve.

Principal risks and uncertainties

The Trust continues to find that there is a greater demand for its work than can be sustained by its staff and volunteer team. After changing the name and structure of the Trust and reopening activities after COVID, our primary concern is to establish appropriate and sustainable ministry commitments while seeking to explore new ways of resourcing a growing work. This entails the inherent uncertainty of charitable fundraising. Risks are mitigated by ongoing investment in development and in seeking where possible to cover certain activities with short-term staff contracts and volunteers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a charitable company limited by guarantee and was incorporated on 24th December 1998. It is governed by articles of association which were adopted on 1 July 2014. Its objects and principal activity is to advance the Christian religion and promote Christian theology in accordance with the Bible. This is done in the following ways:

Page 2

THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

A panel comprising existing Trustees selects members of the Trustee Board at the suggestion of the Trustees. Trustees are selected both for their sympathy for and knowledge of the work of the Trust and for their professional skills. Trustees serve for a period agreed at the time of their appointment.

Organisational structure

At the present time there are six Trustees, one of whom is acting as Director. Alongside the reporting on the activities undertaken by the charity, the Trustees play an active role in overseeing the financials of the organisation, which includes the setting of the annual budget. They are also directly involved in the process of strategic planning, especially in the implementation of new vision. The activities of the Trust are organized on a project-by-project basis, each with its own brand name. The staff host and resource volunteer-based planning and implementation teams which are organized on a project-by-project basis, each with its own brand name and website offering a specific entry-point to an ecosystem of mutually-introducing activities, relationships and ideas.

Induction and training of new trustees

Candidates are well-known to the charity prior to appointment, and many have a wealth of experience in similar roles elsewhere. They are familiar with the work of the charity and the expectations that will therefore be placed upon them. Any technical issues which are beyond the remit of the existing expertise on the Board are outsourced to fit and proper individuals, possessed of the requisite skills.

Controls

The Trustees are satisfied that the current system of internal controls, financial or otherwise, are fit for purpose for the charity, given its current size and the funds involved. However, they are also aware that as the scope of the work grows, changes are likely to be required. Therefore, all roles are kept under review and improvements will be introduced when necessary. Existing systems and controls (monthly cashflow, forecasts, budgets and regular monitoring) are therefore being maintained, as well as reviewed for effectiveness, leading to an ongoing process of improvement.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03688829 (England and Wales)

Registered Charity number

1076750

Registered office

The Round Church Vestry Bridge Street CAMBRIDGE Cambridgeshire CB2 1UB

Trustees

J W Fletcher (resigned 16/4/2023) Rev R C Macaulay T S Laurence Dr L Brown Prof J C Lennox A L Mcilhinney Rev Dr M H Lillicrap

Page 3

THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner

Matthew Pettifer FCA Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 24 October 2025 and signed on the board's behalf by:

Mer MeNhinney

A L Mcilhinney - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FOUNDATIONS TRUST

Independent examiner's report to the trustees of The Foundations Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Matthew Pettifer FCA

Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH

25 October 2025

Page 5

THE FOUNDATIONS TRUST

REVISED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
88,280
Charitable activities
Ministry
5,356
Other trading activities
4
60,144
Investment income
5
857
Other income
-
Total
154,637
EXPENDITURE ON
Raising funds
320
Charitable activities
Ministry
163,670
Total
163,990
NET INCOME/(EXPENDITURE)
(9,353)
Transfers between funds
15
(9,117)
Net movement in funds
(18,470)
RECONCILIATION OF FUNDS
Total funds brought forward
106,459
TOTAL FUNDS CARRIED FORWARD
87,989		 Restricted
funds
£
67,023
36,045
650
-
-
103,718
-
116,553
116,553
(12,835)
9,117
(3,718)
11,638
7,920		 2023
Total
funds
£
155,303
41,401
60,794
857
-
258,355
320
280,223
280,543
(22,188)
-
(22,188)
118,097
95,909		 2022
Total
funds
£
194,347
17,641
47,014
55
4,113
263,170
2,753
198,052
200,805
62,365
-
62,365
55,732
118,097

The notes form part of these financial statements

Page 6

THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)

REVISED BALANCE SHEET 31 DECEMBER 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
11
1,913
CURRENT ASSETS
Stocks
12
2,590
Debtors
13
3,224
Cash at bank
82,842
88,656
CREDITORS
Amounts falling due within one year
14
(2,580)
NET CURRENT ASSETS
86,076
TOTAL ASSETS LESS CURRENT
LIABILITIES
87,989
NET ASSETS
87,989
FUNDS
15
Unrestricted funds:
General fund
Restricted funds:
Personal Support 4
Personal Support 9
Mandarin Project
Personal Support 12
Personal Support 13
Personal Support 14
IFES-FEUER
Walach Foundation
TOTAL FUNDS		 Restricted
funds
£
-
-
2,942
5,355
8,297
(377)
7,920
7,920
7,920		 2023
Total
funds
£
1,913
2,590
6,166
88,197
96,953
(2,957)
93,996
95,909
95,909
87,989
13,961
(31,276)
6,166
9,271
-
145
(499)
10,152
7,920
95,909		 2022
Total
funds
£
2,550
2,910
1,555
116,228
120,693
(5,146)
115,547
118,097
118,097
106,459
12,049
(10,541)
7,160
7,029
(4,059)
-
-
-
11,638
118,097

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 7

THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)

REVISED BALANCE SHEET - continued 31 DECEMBER 2023

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 24 October 2025 and were signed on its behalf by:

Mex MeNhinney

A L Mcilhinney - Trustee

The notes form part of these financial statements

Page 8

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. REVISED FINANCIAL STATEMENTS

The financial statements for the year ended 31 December 2023 have been revised.

They

2. LEGAL FORM

The Foundations Trust is a company limited by guarantee and has no share capital. The Trust was incorporated in England and its registered office is The Round Church Vestry, Bridge Street Cambridge, CB2 1UB. The functional currency of the Trust is Sterling.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Public Benefit

The Foundations Trust meets the definition of a public benefit entity under FRS 102.

Significant judgements

Apart from those judgements involving estimations, the management has not made any judgements in the process of applying the entity's accounting policies that have significant effect on the amounts recognised in the accounts. There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

continued...

Page 9

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds:

The charity maintains a general unrestricted fund, which represents funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.

Restricted funds:

Restricted funds have been provided to the charity for particular purposes and it is the policy of the board of trustees to monitor carefully the application of those funds in accordance with the restrictions placed upon them.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Donated services

The charity has benefited from the contribution of unpaid general volunteers, but has not recognised this donated service in the accounts.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments and accrued income are recognised at the amount prepaid or accrued net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of 3 months or less from the date of acquisition or opening of the deposit..

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

continued...

Page 10

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value

4. OTHER TRADING ACTIVITIES

Shop income
5.
INVESTMENT INCOME
Deposit account interest
6.
NET INCOME/(EXPENDITURE)		 2023
£
60,794
2023
£
857		 2022
£
47,014		 2022
£
47,014
2022
£
55

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Depreciation - owned assets 637 850

7. INDEPENDENT EXAMINERS' REMUNERATION

The Independent Examiner received remuneration of £2,400 (2022: £2,200) for the examination of the Financial Statements.

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

There was no Trustees compensation in the year.

Key personal management personnel were compensated £53,957 (2022: £32,072).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

continued...

Page 11

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Number of full time staff
No employees received emoluments in excess of £60,000.
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
118,341
Charitable activities
Ministry
3,641
Other trading activities
47,014
Investment income
55
Other income
4,113
Total
173,164
EXPENDITURE ON
Raising funds
2,753
Charitable activities
Ministry
96,625
Total
99,378
NET INCOME/(EXPENDITURE)
73,786
Transfers between funds
(882)
Net movement in funds
72,904
RECONCILIATION OF FUNDS
Total funds brought forward
33,555
TOTAL FUNDS CARRIED FORWARD
106,459		 2023
£
106,839
4,451
2,346
113,636
2023
4
Restricted
funds
£
76,006
14,000
-
-
-
90,006
-
101,427
101,427
(11,421)
882
(10,539)
22,177
11,638		 2022
£
94,161
4,224
2,116
100,501
2022
3
Total
funds
£
194,347
17,641
47,014
55
4,113
263,170
2,753
198,052
200,805
62,365
-
62,365
55,732
118,097

continued...

Page 12

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. TANGIBLE FIXED ASSETS

COST
At 1 January 2023 and 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
12.
STOCKS
Stocks
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Accruals and deferred income		 2023
£
2,590
2023
£
197
5,969
6,166
2023
£
484
2,473
2,957		 Fixtures
and
fittings
£
51,935
49,385
637
50,022
1,913
2,550
2022
£
2,910
2022
£
-
1,555
1,555
2022
£
542
4,604
5,146

continued...

Page 13

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Personal Support 4
Personal Support 9
Mandarin Project
Personal Support 12
Personal Support 13
Personal Support 14
IFES-FEUER
Walach Foundation
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
Restricted funds
Personal Support 4
Personal Support 9
Mandarin Project
Personal Support 12
Personal Support 13
Personal Support 14
IFES-FEUER
Walach Foundation
TOTAL FUNDS		 At 1/1/23
£
106,459
12,049
(10,541)
7,160
7,029
(4,059)
-
-
-
11,638
118,097
as follows:		 Net
movement
in funds
£
(9,353)
(786)
(20,735)
(994)
2,242
(2,360)
145
(499)
10,152
(12,835)
(22,188)
Incoming
resources
£
154,637
49,345
12,538
-
8,342
1,784
20,782
775
10,152
103,718
258,355		 Transfers
between
At
funds
31/12/23
£
£
(9,117)
87,989
2,698
13,961
-
(31,276)
-
6,166
-
9,271
6,419
-
-
145
-
(499)
-
10,152
9,117
7,920
-
95,909
Resources
Movement
expended
in funds
£
£
(163,990)
(9,353)
(50,131)
(786)
(33,273)
(20,735)
(994)
(994)
(6,100)
2,242
(4,144)
(2,360)
(20,637)
145
(1,274)
(499)
-
10,152
(116,553)
(12,835)
(280,543)
(22,188)

continued...

Page 14

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1/1/22 in funds funds 31/12/22
£ £ £ £
Unrestricted funds
General fund 33,555 73,786 (882) 106,459
Restricted funds
Personal Support 4 7,907 4,142 - 12,049
Personal Support 9 5,778 (16,319) - (10,541)
Personal Support 11 - (740) 740 -
Mandarin Project 7,160 - - 7,160
Culture Recovery Fund 1,332 (1,474) 142 -
Personal Support 12 - 7,029 - 7,029
Personal Support 13 - (4,059) - (4,059)
22,177 (11,421) 882 11,638
TOTAL FUNDS 55,732 62,365 - 118,097

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Personal Support 4
Personal Support 9
Personal Support 11
Culture Recovery Fund
Personal Support 12
Personal Support 13
Personal Support 14
TOTAL FUNDS		 Incoming
resources
£
173,164
48,754
14,128
4,114
-
10,240
1,751
11,019
90,006
263,170		 Resources
Movement
expended
in funds
£
£
(99,378)
73,786
(44,612)
4,142
(30,447)
(16,319)
(4,854)
(740)
(1,474)
(1,474)
(3,211)
7,029
(5,810)
(4,059)
(11,019)
-
(101,427)
(11,421)
(200,805)
62,365

continued...

Page 15

THE FOUNDATIONS TRUST

NOTES TO THE REVISED FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

15. MOVEMENT IN FUNDS - continued

Personal Support Funds : These funds consists of gifts from individual supporters for the salary costs of members of staff.

Mandarin Project: This funds consists of gifts for the translation of written material and the guided walk narrative into Mandarin.

Cultural Recovery Fund : Funding from the National Lottery Heritage Fund to help the charity reopen and recover.

IFES-FEUER Fund: Funding from the International Fellowship of Evangelical Students for the FEUER (Fellowship of Evangelists in the Universities of Europe) conference.

Walach Foundation: Funding for use in the Fellowship of Evangelists in the Universities of Europe and Good News for the University, including the Association and other European ministries.

Transfers between funds

During the year £6,419 was transferred from the general fund to PS13 to support the shortfall in donations raised to cover the salary. £2,698 was transferred to PS4 to reallocate gift aid receipts and donations to this fund.

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 16