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2025-03-31-accounts

THE FUblt)IWG WETIAIORK ANNUAL REPORT & FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 THE FUNDING NETWORK REGISTERED COMPANY NO. 04046959 REGISTERED CHARTIY NO.1088315

Page
Reference and administrative information 1
Chair’s statement 2
Board of Trustees’ report 4
Auditor’s report 17
Statement of financial activities 21
Balance Sheet 22
Cashflow statement 23
Notes to the financial statements 24

THE FUNDING NETWORK (registered company no. 04046959) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 March 2025

Board of Trustees Mr K Solidum, Chair
Ms A Batista Sonksen, Deputy Chair (appointed 21 October 2024)
Ms O Aig-Imoukhuede
Ms W Brierley
Mr A D Morton
Ms I S Lee
Mrs A Clarke, Deputy Chair (resigned 18 July 2025)
Mr A Coles OBE (resigned 1 June 2024)
Ms C Chambers (resigned 18 July 2024)
Ms FJ Johnston (resigned 14 July 2025)
Company Secretary Ms Caroline Swanson
Chief Executive Eugénie Harvey
Company reg. no. 04046959
Charity reg. no. 1088315
Registered Office Toynbee Hall
4thFloor, 28 Commercial Street
London
E1 6LS
Auditor Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD
Bankers Triodos Bank
11 The Promenade
Bristol
BS8 3NN
Co-operative Bank
PO Box 250, Delf House
Southway, Skelmersdale
WN8 6NT

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THE FUNDING NETWORK (registered company no. 04046959)

STATEMENT FROM THE CHAIR For the year ended 31 March 2025

MESSAGE FROM KAWIKA SOLIDUM

CHAIR OF TRUSTEES

It has been a privilege to continue as Chair of The Funding Network (TFN). Every year, I am reminded of the extraordinary power of connection. TFN holds a rare and vital role: bringing together remarkable small charities with donors who want to turn generosity into real, lasting change.

Across the UK, charities are carrying heavier burdens than ever - meeting growing demand with fewer resources, while their own costs climb. In its Charity Sector Risk Assessment published in September 2025, the Charity Commission underlined these mounting pressures, noting an increase of 2.5% in the number of charities running an operating deficit. This is deeply concerning and yet what stands out to me is the extraordinary ways in which the small charities we work with, continue to respond with courage, creativity and hope.

TFN is proud to stand shoulder to shoulder with them — creating the space where their stories can be heard, where connections are made with new supporters and where hope is sustained even in the hardest of times.

At its heart, TFN is a pioneering model of engaged and collaborative philanthropy where small charities and donors come together to pursue the change they long to see in the world. The spark often begins at our events, but what excites us most is how those sparks grow: into lasting relationships, deeper support and impact that reaches far beyond a single night.

This year we held 10 events in total (8 in 2023-24). After the decision to pause our Strategic Funding Group events in 2023-24, we relaunched this format as our Connector Plus event. This event allows projects funded at our Flagship event to apply for second stage funding. We also held 2 events with the Black Funding Network and one with City for LGBT+ as well as a new event in partnership with SA-UK Trust. TFN Hertfordshire also returned after a short break.

The generosity of our community is truly remarkable. The average grant awarded at a TFN Connector event this year was £17,284, exceeding our £10k target by an incredible 73%. This means we can empower even more grassroots charities to create lasting, positive change.

Thank you to all our individual and institutional members - those who renewed their support this year and those who joined us for the first time. You are the cornerstone of TFN: your commitment goes far beyond the generosity shown at our events, sustaining everything we do.

We are also deeply grateful to our corporate hosts, who throw open their doors and provide their venues, facilities and hospitality so that our events can flourish. This year we were proud to partner with Janus Henderson, Macquarie Foundation, Greenbank, and T. Rowe Price — and thrilled to welcome Travers Smith as a first-time host.

None of what we achieve would be possible without the generous support of our members and institutional funders. A heartfelt thank you to Changing Ideas, City Bridge Foundation, Ennismore Foundation, Frederick Mulder Foundation, James Thornton, and the J Paul Getty Jnr Charitable Trust. Your commitment to covering our core costs is what allows us to focus on our mission.

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THE FUNDING NETWORK (registered company no. 04046959)

STATEMENT FROM THE CHAIR For the year ended 31 March 2025

City Bridge Foundation has continued to fund our efforts to engage businesses of all sizes in supporting small charities. This work has never been more necessary, nor the opportunity greater. With 75% of businesses giving nothing to charity last year (CAF) and FTSE 100 donations falling by 34% in real terms over the past decade, the role of partners like City Bridge Foundation is all the more critical. We are deeply grateful for their continued partnership in driving this work forward.

The Charles Stewart Mott Foundation and the Marie-Louise von Motesiczky Charitable Trust have generously co-funded TFN International for the past 12 years (including a pilot year before the programme officially established). In June 2025 the Marie-Louise von Motesiczky Charitable Trust closed, we are so grateful the support from Frances Carey and the trustees over the last decade. On behalf of TFN and the many civil society organisations, charities, and community groups we've helped, I want to express my sincere thanks.

As TFN approaches its 25th anniversary, our mission is as vital as ever: to back small charities who stand with people in greatest need and who forge new solutions to enduring and emerging challenges. The number of charities that have pitched at a TFN in the UK and around the world, is now close to 3,000! To every one of these organisations we offer our heartfelt thanks: for your work, your vision and for letting us share in your journey.

And for over a decade, we’ve also been privileged to work with civil society organisations around the world and to support them in their effort to promote philanthropy, increase the funds available to small and grassroots organisations and to strengthen civil society. Again, we say thank you to you all.

I would also like to thank my fellow trustees. In particular, we pay tribute to Ailis Clarke, who stepped down after six years as Deputy Chair in July 2025, and to Jennifer Johnston, who also completed six years of invaluable service as our lead on risk. Thanks also to Adrian Coles for seven years of service, and Christina Chambers who stepped down after two years of service. My thanks go as well to Wendy Brierley, for her steady stewardship as Treasurer, and to Caroline Swanson, who continues to serve diligently as Company Secretary.

And finally - and most certainly not least - to the TFN team: Ana Moutella, Eugénie Harvey, Inês Ribeiro, Mihaela Giurgiu, Rebecca Smith and Sally Hoang. Your resilience and determination embody the very spirit of TFN. Serving as your Chair is one of the great privileges of my professional life, and I am deeply proud of what we have achieved together.

Kawika Solidum Chair

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

The Trustees (who are also the Directors of the charitable company for the purposes of the Companies Act) present their combined Directors’ report and Trustees’ annual report, as required by company law, together with the audited financial statements of The Funding Network (the company) for the year ended 31 March 2025. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP (FRS 102 second edition – effective January 2019)). The Trustees and Directors Reports have been combined under Companies Act 2006.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The Funding Network exists to support the vital work of small UK-registered charities, which in turn assist highly vulnerable people living complex lives on the margins of society.

We achieve this by nurturing a diverse membership of thoughtful individual and institutional donors, connecting them with charities at flagship crowdfunding events known as “Connectors”, and fostering lasting relationships between them.

We scale our impact internationally by sharing our model with mission-aligned civil society organisations, enabling them to deliver similar impact in their own communities.

In all our work, we seek to promote and deliver a model of philanthropy that is accessible, inclusive, and transparent, through which we widen participation, build trust, and create lasting impact on the most vulnerable members of society.

In summary, our objectives are

  1. To increase the funds and other forms of support available to small charities.

  2. To increase awareness of the critical role that small charities play in supporting vulnerable and marginalized individuals.

  3. To contribute to the growth of inclusive philanthropy in the UK and around the world

Activity delivered to meet Objectives

2024-25 was another year of steady progress. In addition to a highly successful programme of flagship Connector events, highlights of the year include;

Growth in membership

This year we saw growth in the number of memberships, and we are proud that we have continued to see the number of new individual members double for a third consecutive year. In terms of income, we earned slightly less primarily due to the loss of one “Gold” corporate member.

We attribute the increase in memberships to additional staff capacity and more recently to improvements to the individual membership offer. These include:

2023-24 2023-24 2024-25
Number Number
Associate 5 4
Corporate 9 8
Corporate
Gold		 2 1
Family 9 8
Friend 7 6
Individual 59 73
Total 91 100

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

New audiences through strategic partnerships

We connect with new audiences and focus on important issues and needs by working in partnership with organisations focused on issues and needs. In 2024-25 these included LGBTQI human rights (GiveOut on City4LGBT+), increasing the support for black-led nonprofits (Black Funding Network), small South African community-based non-profits to mark the 30th anniversary of Nelson Mandela’s election as President (SA-UK Trust Network on Southern Africa Funder) and TFN Herts.

Re-boot of Connector Plus (formerly known as Strategic Funding Group);

This year we were delighted to reintroduce Connector Plus events, a refreshed evolution of what was previously known as the Strategic Funding Group. Connector Plus provides charities funded at our flagship Connector events with the opportunity to seek second stage “transformational” support, enabling them to deepen their impact and scale their work. By giving members the chance to stay connected with projects they’ve already backed, these events strengthen relationships, build continuity, and unlock the potential for longer-term change. We will continue to finesse the format of Connector Plus, ensuring it delivers the greatest value for both charities and supporters, while also supporting our plans to grow and diversify membership.

Improvements to our operational capacity

During the year Inês Ribeiro, who joined us in 2023 as the Communications Manager, moved to the newly created role of Charity Manager with a focus on improving the support we offer to charities and with the goal of introducing a Charity Alumni Programme to help us better track our long-term impact on the charities we fund,

In early 2025 we recruited Ana Moutella as the new Membership Manager, enabling us to strengthen the support we offer members, build our membership base, and create capacity for the team to focus on our broader strategic goals.

TFN as a leader in the UK philanthropy sector

In 2024 we produced our first in-house Year in Review for 2024, showcasing our collective impact through compelling data and success stories. This strategic report not only celebrates the achievements of our community but also sets the stage for the launch of a new website in late 2025, which will expand on this content.

We continue to actively take part in Philanthropy Together's Giving Circles Braintrust, a committee comprising representatives from more than a dozen giving circle networks worldwide. As part of this global network dedicated to promoting giving circles, we share valuable insights with collective giving communities internationally, connect with fellow

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

leaders in the movement, contribute to research and communication on this topic. This collaboration positions us as a thought leader and a valuable resource for the global collective giving movement.

We have been included in the latest research report :Patterns in Tapestry: A Typology of Collective Giving Groups” as an example of one of the eight archetypes of collective giving, described under ‘live crowdfunding experiences’.

Again, we presented at the #WeGiveSummit —a key event for the collective giving sector—on "A World of Change: Global Stories of Collective Giving." TFN's unique experience, along with that of our affiliates, provides a compelling case study on how our collective giving model can drive change and offers valuable lessons for the entire sector.

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT

For the year ended 31 March 2025

ACHIEVEMENTS AND PERFORMANCE

NON-PROFITS SUPPORTED IN 2024-25

TFN in the UK

TFN’s total direct contribution to social change in 2024-25 was £508k* (2023-24: £458,000) which we raised at ten crowdfunding events (2023-24: 8) in the UK in support of 30 charities (2023-24: 24).

Flagship events

In 2024-25 we held four flagship “Connector” events (2023-24: 5). Average funds raised a Connector event was £51,852 (2023-24: £55,563).

Due to reduced staff capacity, we held one less Connector event, to help focus on the relaunch of the Strategic Funding Group (renamed “Connector Plus”) in 2024-25, which raised £80,931 (£63,431 processed through TFN and £17,500 donated directly).

Partnership events

City for LGBT+: Entered its sixth year in collaboration with ~~—~~ GiveOut, Consortium and Macquarie, focusing on raising funds for groups at risk of human rights abuses, both in the UK and international. This event raised £122,390.

Black Funding Network: This year we held 2 events supporting 6 projects that raised a total of £37,552.

TFN Herts: Led by a group of volunteers, returned with its first in person event since the pandemic, raising £14,000 for projects supporting the local Hertfordshire community.

SA UK Trust: We held our first event hosted in partnership with TFN member Jill Ritchie and the SA-UK Trust to raise £22,849 for projects in South Africa (£17,649 processed through TFN and £5,200 donated directly).

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

Summary of funds raised at events in the UK

TFN International

2024-25 2023-24
Connector
Spring Connector £51,896 £57,692
Summer Connector £41,446 £56,279
Autumn Connector £32,867 £39,958
Festive Connector £81,199 £68,321
New Year Connector - £47,616
Connector Plus
Spring Connector
Plus		 £63,431* -
Partner Events
Spring Black
Funding Network		 £18,140 £20,410
Autumn Black
Funding Network		 £19,412 £11,835
City4LGBT+ £122,390 £131,410
SA UK Trust £17,649*
TFN Herts £14,440 -
Starter Grants £20,640 £24,375
Other Grants
Barcelona Event ££600
Citizen Zoo £1,250
_Total funds raised _ £485,360 £458,396

Since 2012, with the continuous support of the Charles Stewart Mott Foundation and MarieLouise von Motesiczky Charitable Trust, TFN is able to offer our model to other civil society organisations around the world. Partner organisations are supported with training and study visits through this programme to help them implement them locally.

Newly trained partner organisations, are eligible to receive Starter Grants of £1,750, generously funded by the Frederick Mulder Foundation (FMF) to support event costs (catering, venue hire etc) and to introduce the concept of matched funding – such an important feature at our events in the UK.

Partners are selected on the basis of an alignment with TFN’s mission, their capacity to deliver events and the need and opportunity for an increase in philanthropy in their country. They must also share our passion for the live crowdfunding model and an interest in developing it further and sharing ideas and learning.

In 2024-25, TFN international supported 33 partner events in Albania, Australia, Belgium, Columbia, Germany, Hungary, Macedonia, Peru, Romania, Slovakia and Spain, which raised

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

£891,587 (compared with £843,465[1] in 2023/24). During the period we also established connections with new partners in Portugal and Chile who are expected to have their first events in the following 12 months.

All these events were administered by partner organisations rather than TFN so are not directly reflected within the funds raised represented in these accounts. All partnering events and organisations receive substantial ongoing support and guidance from TFN.

1 In the 2023/24 accounts the figures stated included TFN New Zealand’s Generosity Generator which raised £189,891 making a total of £1,033,356. To show a more accurate comparative, this amount has been deducted.

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

Plans for Future Periods

Our new three-year plan (2025–28), shaped by a clear understanding of both the need for our work and the unique value TFN brings, and informed by five key insights, sets out five strategic objectives for the organisation. These are summarised below.

Key insights

1. Untapped potential in Flagship events

Our flagship events typically run with around 40% spare capacity. Filling this space would cost little yet could significantly boost funds raised, increase awareness, generate new membership leads, and expose more people to the power of collective giving. This is a major opportunity for TFN to grow income, impact and visibility at minimal cost.

2. Corporate philanthropy is woefully low in the UK

In the UK, 75% of businesses gave nothing to charity last year (CAF), and FTSE 100 donations have fallen 34% in real terms over the past decade, despite profits rising nearly 50% (Civil Society). With high satisfaction among our corporate hosts and members, TFN can position itself as a trusted partner for companies seeking more effective, engaging ways to give.

3. Regional imbalance in philanthropy

London receives nearly twice as much per capita in non-government grants as any other region (Centre for Social Justice). Meanwhile, areas like the Northwest and Yorkshire & Humber face higher poverty and unemployment but fewer resources. TFN has an opportunity to share its model with regional partners to stimulate local philanthropy and direct more support to underserved communities.

4. Momentum in collective giving

Giving circles and other forms of community-led action are growing worldwide as people seek inclusive ways to make a difference. Initiatives like Philanthropy Together , backed by the Gates Foundation, reflect this trend. TFN can leverage its decade of international experience to lead, learn and expand collective giving globally, amplifying its influence and impact.

5. Precarious funding for small charities

Shrinking budgets and tough choices are creating instability for small charities and the infrastructure bodies that support them - seen in the closure of the Small Charities Coalition and the Foundation for Social Improvement. This underlines the need for TFN to build resilience and sustainability, ensuring we can continue championing small charities well into the future.

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT

For the year ended 31 March 2025

OBJECTIVES & STRATEGIES TO DELIVER

Strategies

1. Increase average in-person attendance at Connector events

2. Increase number and diversity of members by 45% by 2027–28

3. Re-launch corporate membership offer

4. Build a stronger national presence

5. Leverage the global collective giving movement to secure TFN International’s future

6. Strengthen TFN’s sustainability and resilience

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

FINANCIAL REVIEW

Result for the year

TFN’s income comprises of donations, membership fees, levy income and grants which enable TFN to make grants to non-profit organisations and sustain its activities. The majority of donation income is received, via its events, from members, individuals, grant making trusts and corporate supporters to award grants to carefully selected non-profit organisations.

TFN reported a 3.8% increase in income to £778,447 (2023-24: £749,875) with an increase in the number of events from 8 to 10.

Expenditure in the year amounted to £782,298 (2023-24: £750,181) with grant making increasing by £26,964, or 5.9%, to £485,360 (2023-24: £458,396).

The total cost of running the charity (UK and International) increased by 3.8% to £266,067 (2023-24: £256,251). This resulted in a deficit of £3,851 for the year (2023-24: deficit of £306).

Reserves

TFN reported a 2.2% decrease in total reserves to £168,433 at the end of the financial year (2023-24: £172,284), including restricted reserves of £66,418 (2023-24: £55,716).

Unrestricted general reserves have decreased to £102,015 (2024-25: £116,568). As of 31 March 2025, TFN had free reserves of £83,693 (2023-24 restated: £93,035) which meets the reserves policy as set out below. Free reserves are unrestricted reserves excluding funds that are not readily available for spending i.e. Fixed Asset of £18,322 (2023-24: £23,533).

The trustees have agreed that TFN should have reserves to sustain operations for a period of 3 to 6 months and have set unrestricted reserves target of between £83,000 and £166,000 (2023-24: i.e. between £78,000 and £156,000). This policy is reviewed yearly to reflect any significant changes to the charity’s work and circumstances.

Risks

As part of our dedication to responsible governance and effective risk management, we acknowledge the existence of various risks that have the potential to impact our operations, financial stability, and ability to achieve our objectives. In accordance with this commitment, we present the following summary of key risks considered in our financial accounts:

  1. Financial Risk

We understand that financial sustainability is essential for achieving our mission. We acknowledge potential risks related to funding challenges, economic fluctuations, and donor dependencies. Our approach to mitigating financial risk includes maintaining financial reserves, diversifying funding sources, and strategic financial planning.

2. Reputational Risk

We recognise the importance of our reputation as a trustworthy and responsible charity. Any actions or events that could negatively impact our reputation are acknowledged as a risk. This includes factors such as compliance with ethical

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT

For the year ended 31 March 2025

standards, donor relationships, DEI and the alignment of our actions with our values and stakeholder expectations.

  1. Key Executive Staff Member Risk

TFN is a small charity. The departure or absence of key executive staff members poses a risk to the continuity of our leadership and organisational knowledge. While we have implemented strategies such as succession planning, professional development, and transparent communication, this risk remains a consideration.

Free reserves are reviewed by the trustees at Board meetings, and the trustees are happy that the current levels are in line with the targets. The reserves policy is reviewed annually as part of the organisational strategic planning and budgeting process for the years ahead.

  1. Major External Events Risk

The impact of major external events, such as pandemics, natural disasters, and economic downturns, on our operations and mission delivery is recognised. We have contingency plans in place to address potential disruptions and ensure continuity in serving our beneficiaries.

  1. ESG Risk (Environmental, Social, and Governance)

As an organisation dedicated to positive social impact, we acknowledge the importance of ESG considerations. We understand the reputational and financial implications of not effectively managing our environmental, social, and governance practices. We are committed to transparent reporting, stakeholder engagement, and ongoing improvement in these areas.

In summary, The Funding Network is dedicated to identifying, assessing, and mitigating risks that could impact our organisation's mission, reputation, and financial standing. Our commitment to transparent reporting, strategic planning, stakeholder engagement, and ongoing risk assessments enables us to proactively address challenges and ensure our resilience in an ever-changing environment. We maintain a risk register with risks, ratings, mitigations and monitoring listed. The full risk register is reviewed at least annually by the Board of trustees.

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Public Benefit

The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. The Trustees ensure that TFN’s social change mission is carried out for the public benefit through the creation of funding events which support small charitable organisations that aim to enable enduring positive transformation for individuals, communities, and/or society and the environment over the long term. This support includes raising funds, the development of new skills (e.g. presentation training), access to new networks and the opportunity to secure pro bono and other voluntary support.

Examples of charitable organisations supported include those which:

Our charitable organisation is primarily set up to support:

TFN also provides a valuable service to civil society groups worldwide through its international programme, as described previously in this report.

Constitution

TFN a registered charity, number 1088315. The company is constituted under a Memorandum of Association dated 3 August 2000. The Memorandum of Association was updated and new Articles of Association were adopted on 21[st] March 2024. The charitable objects of the company remain unchanged and are to pay or apply the funds of the company to or towards or in furtherance or advancement or for the benefit of such one or more charities, charitable institutions, or charitable purposes and if more than one in such shares and in such manner as the board of directors of the company thereafter in their absolute discretion from time to time shall respectively select and think fit.

The principal aim of the company is to provide a public crowdfunding forum which:

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

It achieves this by running events (and supporting others to run events) for the public benefit, bringing potential donors together with smaller charities and social enterprises in need of funding, and encouraging donations to be pledged and support in-kind facilitated at each event.

Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. All the Trustees are familiar with the organisation and its operation before being appointed Trustees.

Trustees are recruited according to the skills, knowledge and experience required and with a view to delivering on the charity’s commitment to DEI. Existing Trustees identify where gaps need to be filled, such as those relating to an area of governance. Candidates are interviewed by the Chair, another Trustee and the CEO. Trustees serve an initial term of three years and are eligible for three further years.

Organisation and Management

The Funding Network currently has six Trustees. A recruitment drive is planned for 2025-26. Trustee meetings are held four times per year. Papers circulated between and before each meeting are used to keep the Board informed about developments and prepared for any key decisions required. The Board sets strategy and policy for membership recruitment, grant making and financial matters.

The staff team comprised five roles at the end of the year (Chief Executive Officer, Operations Director, Finance and Grants Manager, Charities Manager with the addition of a Membership Manager in February 2025). Additionally, TFN International is delivered by a part time International Collaborator who is employed on a consultancy basis.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Board of Trustees is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. The Trustees are also responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial

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THE FUNDING NETWORK (registered company no. 04046959)

BOARD OF TRUSTEES’ REPORT For the year ended 31 March 2025

statements comply with the Companies Act 2006, the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

The Board of Trustees is responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the Trustees are aware:

This report was approved and authorised for issue by the Board of Trustees and signed on its behalf by:

Kawika Solidum

Chair

Date: 14/10/2025

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THE FUNDING NETWORK (registered company no. 04046959)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of The Funding Network (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, cash flow and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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THE FUNDING NETWORK (registered company no. 04046959)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2025

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified any material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

18

THE FUNDING NETWORK (registered company no. 04046959)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2025

In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

19

THE FUNDING NETWORK (registered company no. 04046959)

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF

THE FUNDING NETWORK FOR THE YEAR ENDED 31 MARCH 2025

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken, so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed.

Liv Burrell ACA CTA (Senior Statutory Auditor) For and on behalf of: Knox Cropper LLP Chartered Accountants & Statutory Auditors 65 Leadenhall Street, London EC3A 2AD

Date: 30 October 2025

20

THE FUNDING NETWORK (registered company no. 04046959)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2025

Note
INCOME AND ENDOWMENTS
FROM:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments
5
TOTAL
EXPENDITURE ON:
Raising Funds
Costs of generating voluntary
income
Charitable activities
UK Events
Charity Training and Support
Membership Support
TFN International
Grant making
TOTAL EXPENDITURE
6
Net income/(expenditure)
before transfers
Transfer between funds
16
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
TOTAL FUNDS AT 1 APRIL 2024
TOTAL FUNDS AT 31 MARCH 2025		 Unrestricted
Funds
2025
£
130,740
21,758
820
3,557
156,875
43,130
37,655
33,590
71,674
-
27,783
213,832
(56,957)
42,404
(14,554)
116,568
102,014		 Designated
Funds
2025
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
2025
£
621,572
-
-
-
621,572
4,559
29,173
3,734
7,779
34,773
488,448
568,466
53,106
(42,404)
10,702
55,716
66,418		 Total
Funds
2025
£
752,312
21,758
820
3,557
778,447
47,689
66,828
37,324
79,453
34,773
516,231
782,298
(3,851)

-
(3,851)
172,284
168,433		 Total
Funds
2024
£
724,303
23,295
-
2,277
749,875
31,573
65,970
32,530
70,342
55,836
493,930
750,181
(306)
-
(306)
172,590
172,284

All income and expenditure has arisen from continuing activities.

The notes on pages 24 to 40 form part of these financial statements.

21

THE FUNDING NETWORK (registered company no. 04046959)

BALANCE SHEET

For the year ended 31 March 2025

2025 2024
Notes £ £
NON-CURRENT ASSETS
Intangible Fixed Assets 11 18,312 23,076
Tangible Fixed Assets 12 10 457
18,322 23,533
CURRENT ASSETS
Debtors 13 91,152 60,935
Cash at bank and in hand 136,329 178,813
227,481 239,748
CREDITORS: amounts falling due
within one year 14 (77,370) (40,997)
Deferred Income 15 - (50,000)
NET CURRENT ASSETS 150,111 148,751
NET ASSETS 168,433 172,284
FUNDS
Unrestricted funds:
Designated funds 16 - -
General fund 16 102,015 116,568
102,015 116,568
Restricted funds 16 66,418 55,716
168,433 172,284

The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies and the Financial Reporting Standard 102.

The notes on pages 24 to 40 form part of these financial statements.

The financial statements were approved and authorised for issue by the Board of Trustees on 14/10/2025 and signed on their behalf by:

Kawika Solidum, Chair

Registered Company Number: 04046959

22

THE FUNDING NETWORK (registered company no. 04046959)

CASHFLOW STATEMENT

For the year ended 31 March 2025

2025 2024
£ £
Cash flows from operating activities
Surplus/(deficit) for the financial year (3,851) (306)
Adjustments for:
Amortisation Charge 7,164 6,684
Depreciation Charge 447 491
(Increase)/Decrease in debtors (30,217) 58,554
Increase/(Decrease) in creditors (13,627) (138,988)
Investment income (3,557) (2,277)
(43,641) (75,842)
Cash flows from investing activities
Return on investment – interest receivable 3,557 2,277
Purchase of intangible assets (2,400) (15,120)
Purchase of tangible assets - -
1,157 (12,843)
Net increase/(decrease) in cash and cash (42,484) (88,685)
equivalents
Cash and cash equivalents at 1 April 2024 A
178,813		 267,498
Cash and cash equivalents at 31 March 2025 A
136,329		 178,813
A) Components of cash and cash equivalents
Cash at bank and in hand 136,329 178,813
B) Analysis of changes in net debt
Cash and Cash Equivalents At 1 April
2024
Cashflows
Non-Cash
Changes		 At 31
March
2025
Cash 178,813 (42,484)
-		 136,329
178,813 (42,484)
-		 136,329

23

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention. They have been prepared in accordance with applicable United Kingdom accounting standards, the requirements of the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP FRS 102 second edition), in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and the Charities Act 2011.

The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. In forming this opinion, they have considered the long-term impact of the current economic challenges and the context on both its income and expenditure for at least a period of twelve months from the date of approval of these financial statements.

Company status

The Funding Network is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Statutory grants which are given as contributions towards the Charity’s core services are treated as unrestricted.

Intangible fixed assets and amortisation

Amortisation is provided on all intangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected economic life as follows:

24

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

Tangible fixed assets and depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected economic life as follows:

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Donated facilities are included at the value to the Charity where this can be quantified, and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Donated services are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.

Income tax recoverable in relation to investment income or Gift Aid donations is recognised at the time the relevant income is receivable.

Resources expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Support costs, which cannot be directly attributed to particular activities, have been apportioned proportionately to the direct staff costs allocated to the activities. Governance costs include the costs of servicing Trustees’ meetings, audit and strategic planning.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Pensions

The Charity is part of a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

25

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

2. DONATIONS AND LEGACIES

Pledges and Gift Aid
Grants
Other voluntary income		 Unrestricted
Funds
2025
£
-
125,350
5,390
130,740		 Designated
Funds
2025

£
-
-
-
-		 Restricted
Funds
2025
£
534,014
87,558
-
621,572		 Total
Funds
2025
£
534,014
212,908
5,390
752,312		 Total
Funds
2024
£
494,035
227,042
3,226
724,303

Income from Pledges and Gift Aid relates to funds raised at Flagship and Partnership events, organised or administered by TFN, in the UK.

Funds raised through 33 partner events in Albania, Australia, Belgium, Columbia, Germany, Hungary, Macedonia, Peru, Romania, Slovakia and Spain, totalled £891,587 (compared with £843,465* in 2023/24).

All these events were administered by partner organisations rather than TFN so are not directly reflected within the funds raised represented in these accounts. All partnering events and organisations receive substantial ongoing support and guidance from TFN.

DONATIONS AND LEGACIES COMPARATIVE

Pledges and Gift Aid
Grants
Other voluntary income		 Unrestricted
Funds
2024

£
-
30,000
3,226
33,226		 Designated
Funds
2024

£
-
95,000
-
95,000		 Restricted
Funds
2024
£
494,035
102,042
-
596,077		 Total
Funds
2024
£
494,035
227,042
3,226
724,303

26

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

Analysis of grant funding

Frederick Mulder Foundation
City Bridge Foundation
Marie-Louise Motesiczky
Charitable Trust
Ennismore Foundation
Brooks Foundation
Charles
Stewart
Mott
Foundation
EQ Foundation
Changing Idea
J Paul Getty Jnr Charitable Trust
Others, including private
donations		 Unrestricted
Funds
2025
£
40,000
-
25,000
30,000
-
-
-
10,000
10,000
10,350
125,350		 Designated
Funds
2025
£
-
-
-
-
-
-
-
-
-
-
-		 Restricted
Funds
2025
£
-
40,000
25,000
-
-
22,558
-
-
-
-
87,558
 Total
Funds
2025
£
40,000
40,000
50,000
30,000
-
22,558
-
10,000
10,000
10,350
212,908
 Total
Funds
2024
£
30,000
50,000
50,000
30,000
10,000
27,042
10,000
-
9,000
20,000
227,042

Analysis of grant funding comparative

Frederick Mulder Foundation
City Bridge Foundation
Marie-Louise Motesiczky
Charitable Trust
Ennismore Foundation
Brooks Foundation
Charles Stewart Mott Foundation
EQ Foundation
J Paul Getty Jnr Charitable Trust
Others, including private
donations		 Unrestricted
Funds
2024
£
-
-
25,000
-
-
-
-
-
5,000
30,000		 Designated
Funds
2024
£
30,000
-
-
30,000
10,000
-
10,000
9,000
6,000
95,000		 Restricted
Funds
2024
£
-
50,000
25,000
-
-
27,042
-
-
-
102,042		 Total
Funds
2024
£
30,000
50,000
50,000
30,000
10,000
27,042
10,000
9,000
11,000
227,042

27

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

3. INCOME FROM CHARITABLE ACTIVITIES

Membership fees
Attendance fees		 Unrestricted
Funds
2025

£
21,458
300
21,758		 Designated
Funds
2025


£

-
-
-		 Restricted
Funds
2025
£
-
-
-		 Total
Funds
2025
£
21,458
300
21,758		 Total
Funds
2024
£
22,825
470
23,295

All income for 2023/24 was unrestricted

4. INCOME FROM OTHER TRADING ACTIVITIES

Sponsorships
VESTMENT INCOME
Bank Interest		 Unrestricted
Funds
2025

£
820
820
Unrestricted
Funds
2025

£
3,557
3,557		 Designated
Funds
2025


£
-
-
Designated
Funds
2025

£
-
-		 Restricted
Funds
2025
£
-
-
Restricted
Funds
2025
£
-
-		 Total
Funds
2025
£
820
820
Total
Funds
2025
£
3,557
3,557		 Total
Funds
2024
£
-
-
Total
Funds
2024
£
2,277
2,277

5. INVESTMENT INCOME

All income for 2023/24 was unrestricted

28

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

6. RESOURCES EXPENDED
Grants
Payable
Staff
Costs
£
Raising Funds
Costs of generating voluntary income
-
28,126
Charitable Activities
UK Events
-
38,002
Charity Training and Support
-
23,037
Membership Support
-
47,995
TFN International
-
15,912
Grant making
485,360
19,053
Total charitable expenditure
485,360 143,999


Total Expenditure
485,360 172,125
Resources expended include:
Amortisation
Depreciation
Auditor’s remuneration
Details of Grants Payable are given in Note 7.
Details of Support Costs are given in Note 8.
Details of Staff Costs are given in Note 9.
RESOURCES EXPENDED – COMPARATIVE
Grants
Payable
Staff
Costs
£
Raising Funds


Costs of generating voluntary income
-
22,593
Charitable Activities
UK Events
-
40,053
Charity Training and Support
-
24,073
Membership Support
-
48,430
TFN International
-
21,125
Grant making
458,396
22,806
Total charitable expenditure
458,396 156,487
Total Expenditure
458,396 179,080		 6. RESOURCES EXPENDED
Grants
Payable
Staff
Costs
£
Raising Funds
Costs of generating voluntary income
-
28,126
Charitable Activities
UK Events
-
38,002
Charity Training and Support
-
23,037
Membership Support
-
47,995
TFN International
-
15,912
Grant making
485,360
19,053
Total charitable expenditure
485,360 143,999


Total Expenditure
485,360 172,125
Resources expended include:
Amortisation
Depreciation
Auditor’s remuneration
Details of Grants Payable are given in Note 7.
Details of Support Costs are given in Note 8.
Details of Staff Costs are given in Note 9.
RESOURCES EXPENDED – COMPARATIVE
Grants
Payable
Staff
Costs
£
Raising Funds


Costs of generating voluntary income
-
22,593
Charitable Activities
UK Events
-
40,053
Charity Training and Support
-
24,073
Membership Support
-
48,430
TFN International
-
21,125
Grant making
458,396
22,806
Total charitable expenditure
458,396 156,487
Total Expenditure
458,396 179,080		 6. RESOURCES EXPENDED
Grants
Payable
Staff
Costs
£
Raising Funds
Costs of generating voluntary income
-
28,126
Charitable Activities
UK Events
-
38,002
Charity Training and Support
-
23,037
Membership Support
-
47,995
TFN International
-
15,912
Grant making
485,360
19,053
Total charitable expenditure
485,360 143,999


Total Expenditure
485,360 172,125
Resources expended include:
Amortisation
Depreciation
Auditor’s remuneration
Details of Grants Payable are given in Note 7.
Details of Support Costs are given in Note 8.
Details of Staff Costs are given in Note 9.
RESOURCES EXPENDED – COMPARATIVE
Grants
Payable
Staff
Costs
£
Raising Funds


Costs of generating voluntary income
-
22,593
Charitable Activities
UK Events
-
40,053
Charity Training and Support
-
24,073
Membership Support
-
48,430
TFN International
-
21,125
Grant making
458,396
22,806
Total charitable expenditure
458,396 156,487
Total Expenditure
458,396 179,080		 Other
Direct
Costs

£
2,120

5,257

-

1,691

8,993
-

15,941

18,061
2025
£
7,164
447
6,480
Other
Direct
Costs
£

1,360
9,003
-
1,648
16,959
-
27,610
28,970		 Other
Direct
Costs

£
2,120

5,257

-

1,691

8,993
-

15,941

18,061
2025
£
7,164
447
6,480
Other
Direct
Costs
£

1,360
9,003
-
1,648
16,959
-
27,610
28,970		 Support
Costs

£
17,443

23,569

14,287

29,767

9,868
11,818

89,309

106,752
2024
£
6,684
491
6,220
Support
Costs
£

7,620
16,914
8,457
20,264
17,752
12,728
76,115
83,735






Total
2025
£
47,689
66,828
37,324
79,453
34,773
516,231
734,609
782,298
Total
£
31,573
65,970
32,530
70,342
55,836
493,930
718,608
750,181




















22,593 1,360
40,053
24,073
48,430
21,125
22,806		 9,003
-
1,648
16,959
-
156,487 27,610
179,080 28,970

29

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

7. GRANTS PAYABLE

7. GRANTS PAYABLE
Grants paid during the year:
CONNECTOR (Flagship)
APPEAL
Artistic Spectrum
Boys In Mind
Breakthrough Impact
Bright Sparks
Clowns Without Borders UK
CodeBrave
Family Volunteering Club
First Give
Free Shop Lebanon
Free to be Kids
Give A Book
Greener and Cleaner
Hackney Playbus
Hammersley Homes
Human Milk Foundation
Marie Colvin Journalists’ Network
Mazi Housing
Porridge and Pens
Prosper
ReconnectEd
Run with It
Solutions not Sides
Sundial (Formerly Oxford Against Cutting)
T1International
The Vavengers
Thread Ahead
Untold Narratives
Youngwilders
Connector Total
Connector Plus (Formerly known as SFG)
Artis Foundation
The Restart Project
The Vavengers
Connector Plus Total
Black Funding Network
ADHD Babes
African Caribbean Education Network
Armitage Foundation		 2025
£
18,332
-
-
15,244
-
-
-
23,858
-
10,536
16,762
-
-
-
21,679
-
-
-
16,802
35,662
13,085
11,008
-
13,117
-
-
-
11,323
-
207,408
25,436
19,528
18,467
63,431
-
-
6,301		 2024
£
-
18,546
23,912
-
16,928
244
17,073
-
17,119
-
-
18,906
18,828
22,862
-
500
23,645
15,186
-
-
-
-
17,548
-
10,204
21,303
14,882
-
12,681
270,367
-
-
-
6,518
6,766
4,012

30

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

Black Girls Hike
Black SEN Mamas
Carib Eats
Oxygen Arts CIC
Street2Boardroom
Women of Grace
Yucan
Black Funding Network Total
City for LGBT+ in partnership with GiveOut and
Macquarie
ASEAN SOGIE CAUCUS
Helem
LGBT+ Consortium
National Gay and Lesbian Human Rights Commission
The Other Foundation
City for LGBT+ Total
SA UK Trust
Kay Mason Foundation
Topsy Foundation
Tyume Valley Schools
SA UK Trust Total
Regional (TFN Herts)
Angels Support Group
Goods for Good
Kaotic Angel Foundation
Regional Total
Starter Grants
Almeria Tierra Abierta, Spain
Bürgerstiftung Braunschweig, Germany
Buzau Community Foundation Romania, Buzau
Center for Strategic Research and Development of
Georgia (CSRDG), Georgia
Donor Circle Brussels, Belgium, Brussels
Fondazione di Communita de Canavese, Italy
Foundation "Community Donation Fund Sliven",
Bulgaria
Fundació Horta Sud, Spain
Fundatia Communitara Mures Romania, Mures
Fundatia Communitara Prahova, Romania, Prahova
Fundatia Communitara Valcea, Romania, Valcea
Healthy City Community Foundation, Slovakia
Konekt Skopje, North Macedonia
Mosaico Laboratorio Social, Peru		 4,834
8,508
-
-
4,798
7,016
6,095
37,552
45,601
-
34,110
-
42,679
122,390
6,806
2,426
8,417
17,649
4,862
4,331
5,247
14,440
1,744
-
-
1,742
-
-
-
-
-
1,734
1,736
1,744
1,489
1,742		 -
-
3,899
3,924
7,125
-
-
32,244
43,752
-
37,340
50,318
131,410
-
-
-
-
-
-
-
1,735
3,460
1,734
1,732
1,735
855
1,735
1,723
1,735
-
-
-
-

31

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

Partners Albania, Albania
Roots and Wings Foundation, Hungary
TerritoriA, Columbia
TFN New Zealand, New Zealand
TFN Australia, Australia
Tot Ravel, Spain, Barcelona
Starter Grants Total
Other Grants
Barcelona event
Citizen Zoo
Other Grants Total
Grants Payable Total		 -
3,480
1,750
-
1,743
1,736
20,640
600
1,250
1,850
485,360		 1,723
1,732
1,735
1,750
991
-
24,375
-
-
-
458,396

32

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

8. SUPPORT COSTS

8. SUPPORT COSTS
Staff Costs (Note 9)
Rent and Rates
Travelling Expenses
Printing & Stationary
Telephone & Computer
Bank Charges
Depreciation
Other Staff Costs
Professional & Consultancy Costs
Other Support Costs
Total Support Costs		 Cost of
Generating
Voluntary Income
£
9,892

2,473
209
94
857
191
1,244
1,504
2,249
(1,270)

17,443
 UK
Events
£
13,367
3,341
283
127
1,158
257
1,680
2,033
3,039
(1,716)
23,569		 Charity
Training &
Support

£
8,103
2,025
171
77
702
156
1,019
1,232
1,842
(1,040)
14,287		 Membership
Support
£
16,882
4,220
357
160
1,462
325
2,122
2,568
3,838
(2,167)
29,767		 TFN
International
£
5,597
1,399
118
53
485
108
704
850
1,272
(718)
9,868		 Grant
making
£
6,702
1,675
142
64
580
129
843
1,019
1,524
(860)
11,818		 Total
2025
£
60,543
15,133
1,280
575
5,244
1,166
7,612
9,206
13,764
(7,771)
106,752

Governance costs of £6,480 (2024: £6,912) are included.

33

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

SUPPORT COSTS – COMPARATIVE

Staff Costs (Note 9)
Rent and Rates
Travelling Expenses
Printing & Stationary
Telephone & Computer
Bank Charges
Depreciation
Other Staff Costs
Professional & Consultancy Costs
Other Support Costs
Total Support Costs		 Cost of
Generating
Voluntary Income
£
3,562
1,145
113
52
842
140
653
222
855
36
7,620
 UK
Events
£
7,908
2,542
252
115
1,868
311
1,449
492
1,898
79
16,914		 Charity
Training
and Support

£
3,954
1,271
126
58
934
155
725
246
949
40
8,457		 Membership
Support
£
9,474
3,046
302
138
2,238
372
1,736
590
2,274
95
20,264		 TFN
International
£
8,299
2,668
264
121
1,960
326
1,521
517
1,992
83
17,752		 Grant
making
£
5,950
1,913
189
87
1,406
234
1,091
370
1,428
60
12,728		 Total
2024
£
39,147
12,585
1,246
571
9,247
1,539
7,175
2,437
9,395
392
83,735

34

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

9. STAFF NUMBERS AND COSTS

Wages and salaries
Social security costs
Pension costs
Comprised of:
Staff Costs directly attributable to Charitable Activities (Note 6)
Staff Costs relating to Support function (Note 8)		 Total
2025
£
207,208
18,460
7,002
232,670
172,125
60,545
232,670		 Total
2024
£
194,331
16,644
7,252
218,227
179,080
39,147
218,227
The average weekly number of employees during the period
Employees		 was:
Number
4.08		 Number
4.08

One employee received remuneration of more than £60,000 in the band £70,000 - 80,000 (2024: one employee in the band £70,000 - 80,000).

During the year, key management, comprising the CEO and Operations Director received remuneration of £151,764 (2024: £113,498). The role of Operations Director was vacant for several months of 23/24. This figure includes gross salary, employers’ pension contribution and employers National Insurance contributions.

10.TRUSTEES REMUNERATION AND BENEFITS

During the year, no members of the Board of Trustees received any remuneration (2024: £nil).

Two members of the Board of Trustees received reimbursement of expenses of £1,459 (2024: £443).

35

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

11.INTANGIBLE FIXED ASSETS

Cost
As at 1stApril 2024
Additions
As at 31stMarch 2025
Amortisation
As at 1stApril 2024
Charge in the Year
As at 31stMarch 2025
NBV as at 31stMarch 2025
NBV as at 31stMarch 2024		 Rebranding
£
33,420
2,400
35,820
10,344
7,164
17,508
18,312
23,076		 Total
2025
£
33,420
2,400
35,820
10,344
7,164
17,508
18,312
23,076

The expenditure on Rebranding capitalised as Intangible Fixed Assets included redesigning the logo and other marketing tools.

12.TANGIBLE FIXED ASSETS

Cost
As at 1st April 2024
Additions
As at 31st March 2025
Depreciation
As at 1st April 2024
Charge in the Year
As at 31st March 2025
NBV as at 31st March 2025
NBV as at 31st March 2024		 Office and
Computer
Equipment
£
8,490
-
8,490
8,033
447
8,480
10
457		 Total
2025
£
8,490
-
8,490
8,033
447
8,480
10
457

36

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

13.DEBTORS

3. DEBTORS
Due within one year
Other debtors
Prepayments and Accrued Income		 2025
£
51,152
40,000
91,152		 2024
£
10,935
55,000
60,935

14.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade Creditors
Grant commitments
Social security and other taxes
Accruals
5. DEFERRED INCOME
Deferred income
Deferred income
Balance at 1 April 2024
Amount released in year
Amount deferred in the year
Balance at 31 March 2025		 2025
£
7,098
63,431
421
6,420
77,370
2025
£
-
-
50,000
(50,000)
-
-		 2024
£
2,010
32,343
582
6,060
40,995
2024
£
50,000
50,000
108,400
(58,400)
-
50,000

15.DEFERRED INCOME

37

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

16.STATEMENT OF FUNDS

RESTRICTED FUNDS
Grant-making
City Bridge Foundation
TFN International
SUMMARY OF FUNDS
General Funds
Unrestricted Funds
Restricted Funds
Total Funds		 Brought
Forward
Restated
£
-
41,657
14,059
55,716
116,568
116,568
55,716
172,284		 Incoming
Resources
£
534,014
40,000
47,558
621,572
156,875
156,875
621,572
778,447		 Resources
Expended
£
(485,360)
(48,333)
(34,773)
(568,466)
(213,832)
(213,832)
(568,465)
(782,297)		 Transfers
&
investment
gains/(losses)
£
(42,404)
-
-
(42,404)
42,404
42,404
(42,404)
-		 Carried
Forward
£
6,250
33,324
26,844
66,418
102,015
102,015
66,418
168,433

Money raised at UK Events by The Funding Network is for specific non-profits. These funds are treated as restricted and have been paid to the respective non-profits less a levy of on average 10% to cover overheads. The levy is treated as a transfer between funds (see note 18).

Restricted grants have also been received during the year to fund the development of TFN activities in overseas countries (TFN International).

City Bridge Foundation relates to a multi-year grant awarded to strengthen the Funding Network’s core organisational capacity so it can increase the number of companies and employees engaged in supporting charities in London.

38

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025

COMPARATIVE STATEMENT OF FUNDS

Brought
Forward
Restated
£
DESIGNATED FUNDS
Swan Appeal
-
-
RESTRICTED FUNDS
Grant-making
-
City Bridge Foundation
45,824
TFN International
17,853
63,677
SUMMARY OF FUNDS
Designated Funds
-
General Funds
108,913
108,913
Restricted Funds
63,677
172,590
17. TRANSFERS
Transfer in the year comprises:
Levy charged
Pledges towards TFN core costs
Correction of prior year pledge now
allocated to membership
COMPARATIVE TRANSFERS
Transfer in the year comprises:
Release of Swan Appeal
Levy charged		 Incoming
Resources
Resources
Expended
Transfers
&
investment
gains/(losses)
Carried
Forward
£
£
£
£
95,000
-
(95,000)
-
95,000
-
(95,000)
-
494,035
(458,396)
(35,639)
-
50,000
(54,167)
-
41,657
52,042
(55,836)
-
14,059
596,077
(568,399)
(35,639)
55,716
95,000
-
(95,000)
-
58,798
(181,782)
130,639
116,568
153,798
(181,782)
35,639
116,568
596,077
(568,399)
(35,639)
55,716
749,875
(750,181)
-
172,284
Restricted
Funds
2025
Designated
Funds
2025
Unrestricted
Funds
2025
£
£
£
(39,374)
-
39,374
(2,680)
-
2,680

(350)
-
350
Restricted
Funds
2024
Designated
Funds
2024
Unrestricted
Funds
2024
£
£
£
-
(95,000)
95,000
(35,639)
-
35,639		 Carried
Forward
£
-
-
-
41,657
14,059
55,716
-
116,568
116,568
55,716
172,284

39

THE FUNDING NETWORK (registered company no. 04046959)

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2025

18.ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed Assets
Debtors
Bank
Creditors due within one year		 Designated
Funds
£
-
-
-
-

-
 General
Funds
£
18,322
-
97,632
(13,939)
102,015		 Restricted
Funds
£
-
91,152
38,697
(63,431)
66,418		 Total
Funds
£
18,322
91,152
136,329
(77,370)
168,433

COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS (RESTATED)

Fixed Assets
Debtors
Bank
Creditors due within one year
Deferred Income		 Designated
Funds
£
-
-
-

-
-

-
 General
Funds
£
23,533
10,935
115,754
(8,654)
(25,000)
116,568		 Restricted
Funds
£
-
50,000
63,059
(32,343)
(25,000)
55,716		 Total
Funds
£
23,533
60,935
178,813
(40,997)
(50,000)
172,284

19. PENSION COMMITMENTS

The charity operated a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents total contributions payable by the charity to both funds and amounted to £7,002 (2024: £7,252).

20. RELATED PARTY TRANSACTIONS

During the year, donations totalling £27,254 (2024: £25,924) were received by the organisation from Trustees.

40