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
- _Guest Vouchers_ : Again we offered £100 voucher for first-time guests of members to give away at events. Vouchers were again generously funded by the Frederick Mulder Foundation. This attracted 150 new attendees to 10 events and generated an additional £28,100 in pledged funds.
- In December 2024, we launched _Annual Giving Statements_ for Individual, Family Members, alongside tailored _Activity Summaries_ for our Corporate Members and Event Hosts. Both have received glowing feedback and help celebrate member impact — from personal giving histories to milestone achievements including Macquarie’s £1 million raised over 10 years for 73 small charities.
## 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
* Whilst we processed £485,360 in donations, the funds raised at these events excludes £22,700 that was raised during the events but donated directly to the 2 charities and were not processed through TFN. Hence the overall funds raised at events totalled £508,060.
## 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
- Grow membership, with a focus on “member-get-member” referrals.
- Improve SEO and event promotion through the new website.
- Develop attendance incentives (e.g. Members’ Guest Vouchers).
- Strengthen targeted outreach (DAFs, wealth advisors, special interest groups).
- • Launch and implement a dedicated social media strategy.
## 2. Increase number and diversity of members by 45% by 2027–28
- Increase event attendance to generate more leads.
- Embed a pipeline approach to acquire, engage, and retain new members.
- • Strengthen targeted outreach.
- Launch a dedicated membership area on the website.
- Evolve Connector Plus to attract larger donors, trusts, and foundations.
## 3. Re-launch corporate membership offer
- Launch a tailored, tiered corporate membership programme with targeted marketing.
- Offer enhanced servicing for top-tier members, including in-house events and promotion.
## 4. Build a stronger national presence
- Test a Roving Connector in partnership with a regional community foundation and local business partner.
- Draw on international experience to shape delivery.
- Raise awareness of TFN through website, thought leadership, and communications.
## 5. Leverage the global collective giving movement to secure TFN International’s future
- Produce a white paper on TFN’s international influence.
- Develop a new training module to share UK insights.
- Secure a new funding partner to underpin TFN International’s next phase.
## 6. Strengthen TFN’s sustainability and resilience
- Build and nurture a Supporter Network to fund core costs.
- Increase earned income through membership fees.
- Grow levy on funds raised at events.
- Establish a robust impact measurement framework.
- Raise awareness of TFN as vital infrastructure for small charities.
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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.
3. 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.
4. 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.
5. 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:
- address issues of inequality and disadvantage;
- create advocacy / campaigning / dissemination to change society for the better;
- aim to find a new / better solution to an underlying problem;
- focus on personal development to change the way beneficiaries act and live;
- pilot solutions with the potential for expansion to support many more people.
Our charitable organisation is primarily set up to support:
- other small charitable organisations that are selected to pitch at our events for funds and other support;
- individual and institutional donors that attend our events to meet such organisations and to offer them support;
- the beneficiaries of the charitable organisations funded at our events, in health, education, human rights, crime prevention, environment, livelihoods and inclusion.
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:
- acts as a ‘marketplace’ to which individuals bring projects that work towards a fairer, healthier and more sustainable world;
- provides a mutually respectful setting, where those who might like to join with others in funding such projects get to meet and hear from those doing the work;
- promotes a paradigm of social change giving: that those who have much can usefully share their wealth in creative and proactive ways, and that the process of giving can be enriching to the giver as well as the receiver.
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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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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
15
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:
- there is no relevant audit information of which the charitable company's auditor is unaware;
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information
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
16
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:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## 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.
17
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:
- the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.
## 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:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors
## 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:
- The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance.
- We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.
- The audit team, which is experienced in the audit of charities, considered the charitable company’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.
- Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions.
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:
- Rebranding – 5 years
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:
- Office Equipment – 5 years
- Computer Equipment – 3 years
## _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.
* 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.
## 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