. li .Iiii";iT.IT, , **1 **1 ANNUAL ACCOUNTS 202312024 Northamptonshire Community Foundation LEGAL & ADMINISTRATIVE INFORMATION CHARTTY NAME NotharnptOnShi￿ Community FoL+nckiti( COMPANY REGISrRATIC￿ NUMBER 426903Q CHARrrY REGISTRATION NUMBER 1094646 REGisfEREDOFFI 18 Albion Place Northampton NNI IUD TrusrEES Rachel Mallows MBE, DL (Chair) an Andrews Peter Borley-cox Edward Caswell Llam Condron RithaTd Dlmbleby Willlam Francklln {appolnted 231111231 Joanno Gordon {reslgned 22111123) Janine Jepson (￿t￿red 22104123) Syrah Nazir Nancy Stewart HollyThrelfall Domlnic WSrrfleld COMPANY SECREfiRY Jennifer Houghton CHIEF En. Collaborntlon and creatlvlty We ensure that we 'keep an edge, In the development of our servlces,, thls Inclu(ks keeping up to date wlth the latest dkJltal technologles and trends such as havlng a soclal medla Presen￿ and revlewlng new practices in grant makin9. We look beyond standard approaches and promote innovatlve and collaboratlve way5 of worklng and chaltenglng Issue5 such as fuel and food poverty. We collaborate with other agencles In order to flnd new ways to in*Jease fundlng and resources that a￿ available to local charities and communlty groups. Thls a150 forms part of our commitment to Unrted Natbns Sustsinable Devebpment G)al 11: Sustalnable Citles and Communltles, Communlty leadershlp Because of their experien￿ worklng with a varlety of donors, professlonals, grantees and unlts of governmen( Community Foundations, tK)ard and staff often have 5peclal Inslghts into community issues. VCSE Board ObseNerlMember of VCSE Assemblyi Northampton Forward Board, Northamptonshlre ACRE and SEMLEP Strategic Consultant for EuroFean Community Foundations Inlu (ECFI) Member of the UKCF Nomlnatlons and Governano Committee CEO Representstive on the pla￿ Based Executive Committee for Local Unitary Authoritie5 and Emerwcy Resilien Chair of the Big Help Out Commitiee REPORT OF THE TRUSTEES Commitment to the environment Northampts)nshire Community Foundation conts'nues to look at ways in which it can redu￿ its paFer wasts1 general recycling and also set a good example to groups that it funds and works with. The online application form and monitoring report system (with support to the 'dlgitslly excluded? has been successful and an annual survey to groups who have taken part in using the online application system revealed a high rate of client satisfaction. We now encourage online sUbmi￿A)n of all Foll￿S and documents. We continue supporting groups with information and gUKlan￿ to support best practi￿ In projett dellvery and the funding of envlronmental artivity that helps contribute to the United Nat￿n5 Sustainable Devektpment Goals 12 and 13 (Responslble Consumptknn and Production and Climate Action resFethvely). Alternative accesslble formats across the abllity spectrum Northampton5hire CommunSty Founthtlon is commltted to worklng wlth the appropriate agencies and improvlng its webslte Se￿￿ to ensure that where posslble we can provide alternative accessible formats of our appllcaJon form and guklance to all comMunit￿S across the ability spectrum and in doing so support United Nations Sustainable Devdopment ￿31 IO.. Reduced Inequalities. Soclal investment artlvltles rthamptonshire Community Foundatlon does not currently undertake soclal Investment activitles, However, the Foundation wlll consideri given future opwrtunities, the Issue of loan funding for community group5 as part of its charltable and investment activities in the future. It Is noted that this activlty would support United Natlons Sustainable Development &Jal 8.. Decent Work and Economic Growth. Northamptonshire Communlty Foundatlon tralns and co-ordlnatss a ne￿ork of volunteer Grants Assessors who support the assessment of grant applications for grants panels and a neI￿rk of volunteer grants advlsors WIM) attend and advise on grants panels. We have ￿￿ndY developed a Volunteer Handbook for new advisors and assessors. Northarnptonshi￿ Community Foundatlon's core flnanclal purpose is to raise an endowment fund for the benefit of people in Northamptonshlre to support lUtu￿ 9enerations and challenges, and to use the income from the fund to support grou￿ working to create thrivlng Communitles that help addre55 the most pressing issues of our time at the kKal level. EKh year we aim to provlde an effective and efflclent means through which Individuals, ￿SineSs0$, local authorltles and other donorslfunders can distribute financial support to Communit￿ in the County to bjth achieve their objettives whilst rn￿ting the needs of the community. The Foundation has been successful In growing the endowment funds over the years to an overall Endowment Fund of £19,754,363 a5 at 31 March 2024 and with total funds under management of £20,830,988. Total funds under foundatlon management £25,000,OIXI O t20 000,000. £: 5,0(Xl,000.O(I LlO.noo.000 on 15.000,000.00 £o.c4) REPORT OF THE TRUSTEES Since tis 1n￿pt￿ln, the Foundation has built up an excellent track record of dellvering grants to cornmunities across NorthamptonshI￿ and continues io ensure that no communSty is left behind in delivering funds to help meet the global als and address priority needs. The Foundation Is uniquely pla￿d wSthln Northamptonshire to have ￿al and reliabk insight into the neods of local communities. This is achieved through its network of advisory panels, stsff, amba55ador5 and volunteers, the many voluntary sector contscts that have been developed, the large number of organisatKJns that it has already supported financially, and through its Trustees and Fundholders. As an example we have brought donors, Fund holders, trustees, ambassack)rs and fvnded community groups together through online community conversab'ons to look at IoGal solutions to the global goals. We have uwjated our Communlty Engagement Plan which forms part of our Organisational Strategy g)ing forward. The Foundation prod￿E5 an Impact Review that provldes an Insight Into how donations and 9rants are making differen￿ to communities in our County including outcomes across a broad range of United Nat•)n5 Sustsinable Development Goals, communlty needs and apFeals. We've supported more than charides, projects and Individuals. 4,000 Wetre delivered vlt31 supp)rt to local communities Wetre distributed rn0￿ than In 2023124, aWar(￿d £2.97 nillion ingrants. The focus of the Trustees within the year continued to be the promotion of the work of the Foundation and the benefts of investing in community and voluntary organisations across the County. REPORT OF THE TRUSTEES Achievements and performance: Review of activities during the year The Foundation does not use the services of professional fundraisers or commercial partripators io assist with its fund development. The FOundat￿n abides by the Code of Fundraising Prattl￿ introduced by the Fundraising Regulator and no complaints have teen received regarding its Fund development attivities. Over the past tsvelve months the Foundab'on has continued to reV￿W its data protectlon and fundraislng Pro￿d￿￿S to cornp￿ with the European General Data Protection Regulation (GDPR). Ihe Foundation tskes the privacy of its donors e%t￿M￿Y seriously, All informat￿n regarding donor funds are kept securely, with any unsolicited requests by members of the public or charities beiNJ handled by the Chief Executive and the Head of Giving and Development, TAe Trmstees wisA to tAank ati tAose inliuil￿￿ls qrtd or3anisations tAat Aaue, eitAer as donors or srtrForters, Ae(pe4 to 4cAieve an extremely sxecessfdlyeqr. Odr smccess wou£4 not 6e Fossi6Ie witA0￿t tAeir s￿rPort art49erterosity. HSghllghts throughout the year have Included: Distributlon of £2.97 Mlllion bn Grant Making Thls has been our bi99est grant maklng year ever and the effective distributiOF) of funds inc1￿1n9 a rolling programme of grant awards has ￿flected strateglc community needs through the dellvery of Household Support Funds to tackle poverty during cost￿f-11vlftg emergency, healtj) and wellbeing activity (Food4Heroes #50famllles nutritlon pikjt ￿Ing an example) communlty needs survey, Rural needs appeal, Hidaen Needs Report, communlty conversatlons and feedback from grantees and donors has been wholly positive. Staff Wellbeln9 and rncognlt5on We Contin￿ to promote wellteing in the work place and were awarded wlth a NorthamptonshI￿ Business wellbein9 the workplace award for 2023. Updated and Revlsed Foundatlon Strategy 2024-Z028 Following a staff and trustee awayday in January 2024, a new updatsd and revised strategy for ttie foundation Is due to be published in July 2024. Working with Unitary AuthoritSe$ and Household Support Funds We have worked alongside West Northamptonshire Unitsry Authority as a preferred grant maker for Household Support Funds helplng to tackle poverty during the COSt￿f.11v1ng emergency and supportlng a local antl-Frf)verty strategy. Shlning a Spotllght on Rural Communlty Needs We launched a 'Shining a SpOU￿ht on Rural Community Needs, match fund appeal raising over £140,000 supported by Constance Travis Charitable Trust and a range of donors. We have partnered with Northamptonshlre ACRE to hlghlight rural poverty and access to seNtes for rural communltles. Northamptonshlre Community Foundats'on play an active part within the UK Community FOundat￿n network and have recently 5UPPOrted a national convening ft)r rural philanthropy activity. Hldden Needs Report and launch of Good to Glve Gulde We published our second Northarnptonshi￿ Hidden Needs Report in partnership with the Untversity of Northampton's Institute for ScKk?I Innovath)ns and Impatt. This ￿POrt hohllghts urgent priorlty need across Northamptonshire. We also conb'nue to ty￿rk wlth Local Ins￿ht and Oxford Consultants for Social Inclusion to release timely ￿ports on local need. We have launched a new G)od to Give Gulde hlghll9htlng our grant making solutlons and phllanthroptc seNices. Annual Awards Our Annual Awards which took place at the Royal Theatre in Northampton saw over 3CN) attendees from across the county lebrating the achievements of local charlties on behalf of our generous donors. Northamptonshire Rose of the Shire Awards and Big Help Out We have partnered wrth t)oth local unitary authorities and the Lord Lieutenants offi￿ to re-launch the Rose of the Shire Awards recognising 57 community champlons and unsung heroe5. We also sUPPOrted the Coronation Big Help Out bank holiday celebrating volunteering in l(Kal communities. REPORT OF THE TRUSTEES Welcomlng New Trustees We welcomed one new trustee to the board, who was unanimously approved prior to the AGM by our e%istin9 board and who brings a r￿hnesS OF skills and expertise to our al￿adY stron9 and committed board. We also took the optK)rtunity to thank those who retired during the year and heartfelt thanks for their time, counsel and commttment to the foundatb)n. Local Xnfrastructure support We Conkn'n￿ to complement and support the Infrastructu￿ work for the sector around the County. ThLS includes delivering a range of serv￿e5 to groups around fttndraising and funding research, monitoring, evaluation and measuring impact and provKling kxal data on priority needs through our Hidden Needs Report and Wal Insight data. New funding programme5 and donor-dFrected funds £1.9 million wa5 awarded this year through Household Support Funds on behalf of West Northampton$hl￿ Council the Oepartment for Work and Pension5 to tsckle financial hardshlp for local resldents. We ha¥E seajred r￿¥ funds indt*Jing John Chard-young Legacy Fund, Harry's Fund and Cra2y Hats Fund, Proceeds of crime fund and wral funds through a match fund appeal. We continue to work cbjsely wly) local Unltary Authorities to help deliver an anti-povety strategy and Household Support Funds vfa the Department for Work and Pensions (DWPI to address poverty for especlally vulnerable res¢dents through household food ald youd￿r$ and funding collaborative worklng across a number of VCSE sector partners, We have also launched a new corporate giving nthork to engage new corporate donots. G¢>od Practlce In Grantmaklng Our grant making continues to be publicised across our recently updated and newly launched webslte and on the 360Glvlng Pktform and our grant makin9 Servi￿ continue to be a hybrld offer of online and face to fo￿ panels, servtes, monitoring vfislts and webinats. We have worked with trustees of our Grants ènd Impact Commlttee across the year to review grant making solutlons and community needs as well as reflecting on bullding our Impact and reach wlthln Northamptonshire on behalf of donors and partners and our overall business strategy. Our Cornmunity Engagement Plan has been updated and contlnues to bulld our reach wlthin bcal communltles. This ensures that our grant making and philanthropy services realty make a meaningful dIfferen￿ at the local level and that Ouf givlng ￿flects the real needs wtthin our local communlties. Impact and Global Goals The Foundatbon as part of a Wofking committee of UKCF has supported the embedding of the Unlted Natlons Sustainable Development Gjals (UNSDG) into the impart attivlty of communlty foundations. Thls forms a core part of our updat£d organisatlonal strategy and grantmaking strategy and now ￿ViSed foundatlon strategy. We have also supported a strategic review for Euro￿an Communlty FoundatJon Initiatlve (ECFII and launched an updated impact report at our Annual Awards 2023. quity, Dlverslty and Incluslon The Foundation has had representati'on on the UKCF Equity, Diverslty and Inclusion (EDI) worklng steerlng group and contlnues to promote best practi￿ on UN SDG 10: Reduced Inequallties as well as rolling out an EDI Action Plan. An action plan is in pla to instigate lyest practice in-house to improve donor development and grant making practrces to be ffl0￿ inclusive, bwking wrs barriers to accessing funding. The Foundation works with local voluntsry and communty groups to promote best practi and we attend a broad range of community forums, funder fares and events to ensure our grant making reaches all communit￿5 and VR work to diversify our donor ne￿orkS, We recognise this as an ongoing journey and pro￿$5. Emergency Preparedness Plan We have worked alongside the Nètlonal Emergencies Trust and our Audlt CommittEe to develop and athpt an emergency preparedness plan as part of our learning and best prattice from the COVID-19 pandemic. We have a memorandum of understanding in pla￿ with the National Emergencies Trust to be prepared and fftsponsive to local and national emergencies that will impact Northamptonshire Cornmunitie5 and our responsiveness to ra￿lA9 funds and distribuu'ng grant awards to support any co￿ordInated emergency reswnse. REPORT OF THE TRUSTEES Marketing and Communications Northamptonshire Community Foundation has an ongoing working culture of improving its public relattons and communications with tafget audien￿ sL￿h as ifftntial grant holders, existing grant recipients, the general public and (knnors. The Foundation ha5 established a good relationship with the local media and continues to develop these links, with regular p￿sS coverage. Social medk1 cKJntinues bj g￿W and our impatt on X, Linkedln, Fa￿book and Instagram enable us to reach to a wider group of people to help rai* our profile. We continue to work with local press, radlo and media to extend our reach, Contlnued support & creatlve givln9 A huge thank you to all those people from whom we have received donations during this cost-of-llving crisis. We have seen an outp)uring of generosty from those who donated funds to our appeals responding to communty need to supwrt residents livlng in financial hardshipi fwd poverty for families and children and fuel poverty for vulnerable and older people, Communicatlons and social medla We provKle our own *newsÈtters wh￿h go out to donors and grantees on a monthly basls and additional cOr￿SpOndenCe, Regular updates are provided to donors and orantees regarding funds raised, grants awarde(l and events being held. We have an active social media strategy providin9 regular updates and profiling our grant making, donor development services, Impact and local charfty case stsKties and appeals across platforms Includlng Instagram, tsnkedIn, Fa￿1X￿k and X. Good to Glve Gulde A new Good to Give Guwje has been published for Professlonal Advisers and DOr￿(s has been very useful In provldlng inforMat￿n about the ServI￿S provided by the Foundation, available online and in prlnted brochu￿, The informatlon is coMp￿hen51ve and provldes essential Informatlon on all of our philanthroplc and grantmaking servi￿. Onllne donations Donations can be given online - through the Just Giving page and our own website. You can flnd us at online gbilng page for the Foundatk)n. The easiest way is by searching our full name which will take you diffjctly to the Staff Support FoundatK*n staff and volunieers are flexlble in offerlng onllne, phone, email, video and fa￿ to fao support according to need, CommunLitions with workers and professionals 'on the 9round' means that a quick phone call can ￿ taken from a volunteer centre or local government community development worker, a youth worker or a local volunteer ￿ntre to provlde support InforMat￿n as they In ￿rn support an appllcant In applylng. The Foundatlon also provSdes online resour￿5, draft appllcatlon services, attends a range of community forums and provldes workshops, seminars online and ta￿ to support. 'Word ol Mouth. networ1( The FoundatK)n now has an established presence within the County and, at the local grassrTrJts level, the￿ Is a dynamlc element of prevlous and current grant recipients, partner agencles and ambassadors (panel members, trustees, volunteers and Staff) wh￿h will alert others to the possiblllties of ac￿ssing funding. The Foundation has continued to build Ilnks wlth representatives working With and reaching out to all communitles and will continue tt) promote through established networks such as the funders, FonJm, rural community councils, thematic 'umbrella' or9anisations e,g. local Infrastructure organisatlons, S￿rtS partnerships, councils for voluntary servSos, voluntsry youth agencies and other networks. REPORT OF THE TRUSTEES Grant giving analysis: Overview 2023124 A total of £2,973,180 was distributed in 10,413 awards to group5 and indlvlduals across Northarnptonshl￿. Sino 2001 the fOUnda￿n has distrFbuted £22.9 million. GRANT GIVING ANALYSIS AMOUNT AWARDED IN FINANCIAL YEAR 23124 FUND NAME PURPOSE OF FUND ALASTAIR JAMES MEMORIAL TRUST FUND 2,000 SUPPORTING A BROAD RANGE OF PROJECTS GEOGRAPHICALLY THAT BENEF￿ YOUNG PEOPLE AND ADULTS wrrH DISABILITIES SUPPORTS PROJEcfs DIVERTING YOUNG PEOPLE FROM THE CRIMINAL JUSTLCE sYsrEM SUPPORTS PROJECTS BRINGING PEOPLE ToG￿HER THROUGH FOOD ALWAYS A CHANCE FUN[> 19,500 ANCHOR FUND 22,439 AVON FUND FOR WOMEN & GIRLS 6,000 TACKLES VIOLENCE AGAINST WOMEN AND GIRL SUPPORTS PROJEcfs IN THE NORTH OF THE COUNTY FOR THE BENEFIT OF THE PARISHES OF C114NFORD AND LATEMER BENEFIT PEOPLE WJTH DISABILITIES LtVlNG IN NORTHAMPTONSHIRE FUND INDIVIDUALS ON LOW INCOME FUNDS A BROAD RANGE OF COMMUNITY A￿1vITE5 ACROSS THE COUNTY FUNDS A BROAD RANGE OF COMVIUNrrY AcrIvtTES ACROSS THE COUNTY FUNDS ARTS, CULTURE, HERrrAGE AND MUSIC SUPPORTS FAMILIES EXPERIENCING FOOD POVERTY THE THEME FOR 2023124 WAS REDUCED INEQUALITIES IUNSDG 10) FUNDS A BROAD RANGE OF AcfiviES ACROSS THE COUNTY SUPPORTS THE RESIDENTS OF LADYBRIDGE DRIVE AND GREAT BILLING WAY BJNDS ORGANISATIONS IN HACKLETON SUPPORTING STUDENTS WHO ARE ESTRANGED OR ARE CARE LE4VERS COMMUNrrY AcfioN FOCUSING ON SUPPORTING WLNERABLE PEOPLE INTO WORK SUPFQRT EA EMPLOYEES OF ROBERT HORNE PUBLISHING EMERGENCY SUPPORT TO THOSE WHO ARE IN POVERTY SUPPORTING YOUNG PEOPLE HELPING YOUTHS WHO ARE AT RISK OF BECOMING INVOLVED IN THE CRIMINAL JUSTICE SYSTEM IMPROVE THE WELLBEING OF RESIDENTS OF KINGSWOOD AND HAZEL LEYS. BENEFIT OF PARISHES OF RUSHTON AND PIPEWELL SUPPORTING ARTS AND EDUCATION 8URNErr FUND 65,000 BLIRTON INOLD WIND FARM COMMUNTh FUND 57,962 CEaL PErrrr FUND 17,733 COLES & RICE FUND CONSTANCE TRAVIS CHARtrABLE TRUST COMMUNrrY FIRST ENDOWMENT FUND CONTANCE TIiAVLS CHARITABLE TRUST ENDOWMENT FUND DEL NORTHAMPTONSHIRE FUND 3,525 169,245 98,496 17,327 FAMILY FOOD AID FUND 500 FREENDS OF THE FOUNDATION FUND 19,154 GENERAL ENDOWMENT FUND 990 GENesis HOUSING FUND 15,000 HACKLEfoN REUEF IN NEED HIGH SHERIFF SCHOLARSHIP FUND 940 500 HENRY MARTIN ￿TENERy FUND 16,475 ROBERT HORNE FOUNDATION 36,000 HOUSEHOLD SUPPORT FUND 1,898, 160 JOHN CHARD YOUNG LEGACY FUND HSIF FUND 1,149 12,673 KHL BIG LOCAL COMMUNrrY CHEST FUND 5,810 NEW ALBION WIND FARM COMMUNITY FUND 21,415 NORTHANTS EDUCATION TRUST FUND 2,500 REPORT OF THE TRUSTEES POVERTY HURTS FUND PROCEEDS OF CRIME FUND (S27 FORFEITURE) 14,583 22,500 SUPPORTS THOSE UVING IN POVERTY REDu￿10N OF CRIME AND SUPPORTING COMMUNITY SAFErY IMPROVE HEALTH AND WELLBEtNG OF RESIDENTS OF NORTHAMPTON SUPPORTLNG OLDER PEOPLE IN NEED SUPPORTS PROJEcfs FOCUSING ON HEALTH AND WELLBEING NEEDS ARTS, CULTURE AND HERITAGE AcfiviTY BENEFrr ELDERLY PEOPLE CARING FOR LOVED ONES BENEFIT ARTS, CULTURE, HERITAGE AND MUSIC SUPPORTING PROJEcfs IN WELLINGBOROUGH TACKLING POVERTY AND SUPPORTtNG YOUNG PEOPLE SUPPORT VULNERABLE OLDER PEOPLE DURING THE WINTER PERIOD BENEFIT OF RESIDENTS OF PARISHES OF WINWICK, COLD ASHBY, WEST HADDON AND GUILSBOROUGH SUPPORT DISADVANTAGED YOUNG PEOPLE BENEFrr OF RESIDENTS OF YELVERTOFr, CRICK, ULBOURNE AND CLAY COTON QUEENS IN¥rrrLrfE FOR RELIEF FUND 130,757 SIR GEORGE EARLE 5r GILES CHARrrABLE TRUST FUND 2,857 29,080 THE COMPTON FUND THE SUEDE REsprrE FUND 12,210 10,000 THE KENNEfH FUND 111,650 WELUNGBOROUGH REUEF & EDUCATIONAL CHARITIES FUND 650 NTER WELLBEING FUND 6,959 WINWICK WIND FARM COMMUNfry BENEFIT FUND 21,844 WOJDEN SPOON FUND 3,000 YELVERTOFf WINO FARM COMMUNITY BENEFIT FUND 80,993 Flnanclal revlew Grants available on endowment funds are based on Investment Income eame(I In prevK)us financlal years. Thls, combined with fluctuations in the vèlue of the investments, can cause large fluctuations on the net movement of funds year on year. Durlng the year ended 31 March 2024 there was a surplus on the ordlnary athvft￿ of the Foundation of £1,420,114. (2023: deficlt of £1,129,15311, The prfrKlpal fundets durlng the year are set out on pages 29-30. How our funds are spllt 2024 • 2023 nre5tficied Funds R¢?tfKted Fund5 Endowment Funds The totsl funds hekl by the Foundatson as at 31 March 2024 were £2 0, 8 3 0 , 9 8 8 (2023: £19,410,874), The Trust￿ a￿ confident that the Foundation 15 able to continue to meet its liablities as they fall due for the fo￿eeable future and thatthe accounts should be prepared on a going contsrn basis. REPORT OF THE TRUSTEES Reserves policy The Trustees of the FounLS3tion set their own reserves Folicy which is primarily aim&J at generating sufficient general reserves to meet at least 6 month's working capitsl requirements (£277,373), The Trustees agreed that this was a prudent approach and would ensure the fU￿re growth and devElopment of the Foundation was financial￿ sustainable. The target unrestricted reserves have been estimated from an assessment to cover the level of operational financial commitment and associated ￿IdUal financial risk if income Is unexpectedly termirklted and approved by the Board of Trustees. Tr target has taken into account the cash flow projettion and requI￿d worklng capFtal for planned buslness artivrt￿. As at 31 March 2024, unrestrlcted general re5eNes totaled £408,564. Thts Includes £ 114,255 that has tEen designated by the Trustees, whtch represents a future contlngency fund of £22,455 (to set aside funds to cover fviu requlrements for structural changes in the L)rganisation), a premlses fund of £26, 100 (to cover future costs for the next three years arising from the Foundation's office premises) and a key-person fund of E65,700 (to cover 6 months of salary costs of key management stsff in case of long-term slckness). Investment pollcy and performance The foundation's Investment policy 15 to malntaln the value of the endowment funds In real terms over the period of the plan. Any Income and surplus oipltal galns Is to be used for the purposes of the Foundatlon. It is the Intention to bulld the erKlowment funds rather than uslng them for current expendlture, except In an emergency S￿UatIOn. Investments a￿ managed In order to maximise tteneflt for communities. The Trustees are mindful of Charty Commission requirements that invesbnents should yield the best financial return within the level of risk consKlefed to be acceptable. The Trustees take professional advbce through professlonal Investment managers and review the Foundation's Investment poliLry regularly. Rathtone Investment Management manages an Investment pool on behalf of the Foundatlon, whth totsls over El 1.5 millN)n. The Trustees have glven instructions to Rathbone Investment Management to pursue a medium risk policy. The Trustees m￿t with the investment managers on a regular basis to review the performartt of the Investment portfolio and discuss any possible changes to the strategy being aik)pted. Funds totsling nearly £8.5 mlllion are invested through CCLA Investment Management. This includes Community First Funds totallng £5.9 mlllbn, chosen by the Government for its solld Investment track record In the charity sector. These funds are held centrally vla UK Communlty Foundadons and the Trustees do not control the Investment strategy for these funds. In r￿nt years the￿ have been large fluctuattons In the value of the Investments due to Covld-19 and other wortd events. As the net gains and losses arlsing on the valuation of the Investments a￿ Included on the statement of financial attivlts'e5, this has resulted in large varian￿5 of the net movement In funds year on year. A5 the investments are held for the long term benefit of the community, these short term fluttuations do not cause cofi￿rn to the trustees. Rlsk management The Trustees a￿ awa￿ of thelr ￿p)nSIbIlI￿e5 under the charltles revlsed statement of remmmended practice (SORP FRS102) and actlvely revlew the major rlsks to which the Foundatlon Is exposed. The Trustees meet on a regular basls to monitor sLKh risks. The risk ￿lSter of the Foundation is analysed by the likelihood the risk will occur and level of impact this will have on the organisation ènd, for those major risks identified, mitigatin9 actions are ￿entifIed and timescales agreed for thelr implementatKJn. REPORT OF THE TRUSTEES Future plans Our upjated five year strategy for 2024-28 is based on the following theory of change: If we grow our enthwment and increase our ￿venue, make best use of our local funding knowkdge and expertise of the communities we setve, provKie a voice for those we fund, enrich the gwing experien￿ for philanthropists, whilst being cost effKts've with all of our ￿sOUrces, then we wlll better serve our counvs communlties now and for genera￿nS to con￿. The strategy Is set out under flve pillars: ENRICH AND DEEPEN CONNEcfioNS WITH EVERYONE IN OUR COMMUNITIES CHAMPION OUR BRILLIANT COMMUNrrY ORGAN15ATIONS AND CHARITXES GROW THE ENWWME AND BUILD PHILANTHROPY INCRE4SE IMPAcf ACROSS OUR GZVING THINK GL08AL Acr LOCAL We recognlse that ￿alIty can be unpredlctable, and often it is ne￿Sary to come'off plan, to sei2e an opportunlty, flx a problem, raise our heads above the parapet to provide a voSce or support for those who need it most. We will keep exibility in governan￿ arKI operations to allow us to do so. REPORT OF THE TRUSTEES For each aim, we have set out the key perfOrrnan￿ measurements to show how Kell we are p*rfoming over the next three years, These measurements will be revlewed by our board and operationally we will check progress against our operational and indivwjual work plans. We will report back through our yearbooK our impatt measurement tool, webstie and the events and presentstions that we deliver throughout the year.; Growth We want to hav& an endowment of £21.5m by the end of March 2026 and aim to award E8 mill￿n in grant makin9 during that time frame and to continue brlnging In revenue and programme fvnds. Thls ss so we can better serye our Countys communities now and for 9enerath.ons to come with a growlng, Independent asset and increased fund distributlon. Our past eXperIen￿ of building endowment, which underpins our previous growth, wlll contlnue to be implemented to achieve these goals. Impact We want to make best use of our impact measurement tool which will be used effectively In line with our funding kr￿w• and expertise in ￿CogniS1ng the worth of the grants given to our beneficiartes and In doing so will enrich the giving experience for our donors, This is so we can Increase community philanthropy in our county. Sustainablllty We want to retain the real value of our en(JowmenL cover our costs, Invest strategically in our staff, trustee5 and operations and maffttsin high standards. This is so we have Internal structure5 to achieve extemal aiffls and meet our growth and our goals, whilst remaining effectlve and efflcient. Tax Status As a registered charty, the Foundatlon is, In general, exempt from tax on Its investment Income and chargeable gains. However, it Is unable to recover Value Added Tax on goods and seNices purchased. Polltlcal and Charltable Contrlbutiong The Fourthts'on made no polltical contributions during the year (2023.. £nll). Statement as to Dl$closure of Information to AudStors g) far as the Trustees are awa￿, there is no relevant Snformatjon las deflned by Section 418 of the Companies Art 2006) of whlch the charltsble company's audltor15 unaware, and each Trustee has tsken all the steps that they ought to have taken as a tnstee in order io make them awa￿ of any audlt Information and to establish that the charitab company's auditor is aware of that information. Audltors In accordan￿ wrth Section 487(2) of the Companies Act 2006, a resolutlon for the apFK)intment of audbtors of the Foundation will be prop)sed at the next annual general meeting. The Foundation has met the Public Beneflt test in the following ways: The Trustees have had regard to the Chdrity Commission guidance on public benefrt. The benefits that arise from the aims and principal objectlves of the Northamptonshire Community FourKlation are ro operate an efficient and supportNe grant making service to local voluntary and community organ(sations in the County of Northamptonsh1￿. Grants are targeted at a range of specific themes and geographical areas. The principles and practi￿ ouuined in this report inform how the Foundation has dlstributed the diverse fijnding programmes it delivers across the Q)unty of Northampton5hlre In a transparent and effectwe mar+ner. We have met the public benefi't test through delivering our misslon, in helplng to tsjild stronger communities, encoufaging focal giving ar￿1 provKYing a cost-effectlve way for donors to make a long-term difference in thelr loc31 area. Through our under5t3¢iding of local Lssues, we have made ￿er￿pbve and well- tsrgeted grants that help Secure the future for generations to come. We believe that there is no detrlment or harm that in our view mlght arise from Girying out the organssation's alms, Neither a￿ Y￿ aware of any widespread view5 amongst others that such detriment or harm mwJht arise. Our organisat￿n'S aims intend to benefSt people and communitSes across the County of Northamptonshlo. The charltsble activities supported by the Foundatson cover our key impact themes of arts, Cultu￿ and heritage, health and wellbeing, educatlon and skills, the environment, general community activity and tsckling disadvantage and exclusion. The charitsble need shared by the recipients is the advan￿ment of educatlon, the protection of good health, both mentsl and physKal, and the rellef of poverty and slckness. Restrtilons based on atsllty to pay any fees charged, does not relate dlrettly to our beneflciarfes. We dlstrlbute fvnds on behalf of others; donots, the private and the public sector and charge admlnlstrab've f*5 on those funds, therefore beneficiaries are not tharyed for SeN1￿ or facilltles provlded by the Northamptonshire Community Foundation. This has been p￿pared in accordance with the provlslon5 of Part 15 of the Companies Act 2006 relating to small companles. BY ORDER OF THE BOARD Rachel Mallows DL- Chalr Dat•d: 24 July 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES Statement of trustees, responsibilities The Trustees (who are also Directors of Northarnptonshire Community Foundation for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the flnancial Statements in accordan￿ with appl￿ble law and United Kin9Jom Accounts'ng Standards (United Kingdom Generalty A(￿pted ACCOUn￿n9 Practice), Company law requires the trustees to prepare financial statements for each financial year, which give a true and falr view of the state of affairs of the charitable company and of the incoming Esources and applicatson of resources, incI￿11n9 the income and experKllture, of the charltable company for that period. In preparing financial statements, the Trustees are required to: . Select suitable accountln9 policies and then apply them consistently, . Obserye the meth(*ts and princlples in the Charlties SORP 2019 (FRS102); Make judgments and estimates that are ￿3$OrIable and prudent,, Stats whether appllcable UK Accountin9 Stsndards have been followed, subject to any materlal departyjres dLsclosed and explained in the financlal statements,. prepa￿ the financial statements on the golng concern basis unless it Is inappropriate to presuff￿ that the charitable company will continue In operation. Trustees are ￿sponSIble for keepirng adequate accountlng records that dlsdose with reasonable accuracy at any tlme the flnancial position of the charltsble company and enable them to ensLI￿ thèt the financlal statements comply wlth the Companies Act 2006. They a￿ also responsible for safeguarding the assets of the charitable company and hen￿ for taking reasonable steps for the Pre￿ntIOn and detection of fraud and other irregularities, In so far as the Trustees a￿ awa￿.. There Is no relevant audtt Inforniatlon of whlch the charltable company's audltor Ls unawa The Trustees have tsken all steps that they ought to have tsken to make themselves aware of any relevant audit Inforrnat￿n and to establish that the auditor is awa￿ of that Information. The Trustees are responsible for the maintsnance and Integrity of ihe corporate and financial infomation included on the charitable company's website. Leglslation in the Unlted Klngdom governing the preparatton and dlsseminatlon of flnancial ststements may dlffer from leglslatlon in other itsrlsdlctlons, INDEPENDENT REPORT OF THE AUDITOR Opinion We have audited the financial ststements of Northamptonshire Community FOundat￿n (the'charitable company) for the year ended 31 March 2024 which comprise the balance sheet, the ststement of financial artivities, summary income and expenditure account, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financh31 rewrting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includin9 Financk)l Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK ano Republic of Ireland (United Klrigthjm Generally Accepted Accounting Practi￿). 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 2024, and of its incoming resour￿ aFKI appltstion of resouros, Sncluding its Income and expendlttsre, for the year then ended; have been property prepared in accordance with UnSted Kingdom Generally A￿pted Accountirwj Practth,, and have been prepared in accordance wlth the requirements of the Companies Art 2006. Basls for oplnion We conducted our audit in accordance with Lnternational Stsndards on Auditing (UK) (tSAs (UK)) and appllcable 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 eth￿1 requirements that are relevant to our audit of the financial statements in the UK, includlng the FRC'S EthiGII Stsndard, and we have fulfllled our other ethical responsibilities in ￿COrdan￿ with these reouirements, We believe that the audlt eviden￿ we have obtalned Is sufflcient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financk41 statements, we have concluded that tho trustees, use of the going r￿n￿rn basis of f•Xt)unting In the preparatbjn of the financial statements Is appropriate. Based on the vmrk we have performed, we have not Identlfied any materlal ￿n￿rtaintIeS ￿latIng Irj events Or condltlons that, individually or collectively, may cast signrficant doubt on the charitable company's ability to continue as a going concern for a perh)d of at least tsvelve months from when the flnancSal ststements are authorised For issue. Our ￿pOnSIbIlItIeS and the ￿ponsIbIlitieS of the trustees wlth respect to goln9 con￿rn are descrlbed In the relevant sectSons of this report. Other inforn￿tIOn The other information comprtses the information Included In the report of the trust*s, other than the flnancial statements and our audltor's rep)rt the￿on. The trustees aff responslble for the other information contsined within the annual accounts. Our OPIn￿n on the financial statements does not cover the other Informatlon and, eKQPt to the extent otherwise explicitly stated in our report, we do not eXP￿S any fomi of assurance condusion the￿On. Our responsibility 15 to the other Information and, in doing so, consmder whether the other Information is materlally Inconsistent with the financial statements or our knowledge obtsined in the course of the audlt or otherwlse apFears to be materially misstated. If we identify such material incon5iStencies or apparent mèterial misststements. we a￿ required to determine whether this gives rise to a materlal mi55tstement in the financial ststements themsefves. If, based on the work we have performed, conclLKie that the￿ is a matsrial misstatement of this other infofmatjon, we are requlred to report that fact, We have nothing to in this re9ard, 19 INDEPENDENT REPORT OF THE AUDITOR (CONTINUED) Oplnions on other matters prescribed by the Companies Act 2006 In our opin￿n, based on the work undertaken in the course of the audit: the inforniation glven in the trustees, report (incorporating the dir￿t0￿, rep)rt) for the finanaal year for which the financial ststements are prepared is consistent with the financial Statements; and the directors, has been prepared in accordance with applicab￿ legal requirements. Matters on which we are required to report by exception En the light of the knowlethje and understanding of the charltable company and Its environment obtained in the course of the audlt, we have not K￿ntir￿ material misstatements in the directors, report. We ha￿ nothing to rewrt in respett of the followlng matters in relation to whlch the COmpan￿S Act 2006 requires us to report to you if, in our oplnlon: a(*quate accounts'ng records have not been kept, or ￿turnS adequate for our audit ha* not been re￿iVed from branches not visited by us,. or the flnanclal statements are not In ag￿ernent wlth the accounting records and ￿￿rn5., ur rtain dtsck)sures of directors, ￿muneratIon specified by law are not made,. or we have not re￿iVed all the Information and explanalions we require for our audiL Responslbllftles of trustees s explained rn0￿ fully In the trustees, ￿SponsIbl11t1eS statement set out on page 19, the trustees (who are also the dlrectors of the charitable company for the purposes of company law) are responslble for the preparation of the financlal statements and for being satisfied that they give a true and falr view, and for such internal control as the trustees determine 15 ne￿Sary to enable the preparakn'on of financial statements that are free from material misstatement, whether due to fraud or error. In p￿ParIng the financlal statements, the trustees are responslble for assesslng the charltable company's abillty to contlnue as going concern, dKloslr*g, as applicable, matters related to golng concern and using the going concern basls of accounung unless the trustees either intend to Itquidate the charitable company or to ￿ase operation5, or have no ￿alistiC alternative but to do so, Audltorfs responslbllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal mlsststement, whether due to fraud or error, and to issue an audlter's ￿pOrt that inclLKles our opinion. Reasonable assurano Is a hi9h level of assurano but Is not a guarantee that an aLsdlt conducted Sn accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can artse from fraud or error and are Conside￿ material if, indlvidually or In the a99￿gate, they coutd reasonably be expected to influeno the economlc deoslons of users tsken on the basis of these flnanclal statements. Irregularities, including fraud, are instsnces of non-complian￿ with laws and regulations. We desi9n prO￿dureS in line wlth our responsibilitjes, outlined abjve, to detect materlal misstatements in respect of Irregularities, including fraud. The speciftc procedures for this engagement and the extent to whlch these are capable of detecting irregularities, Includlng fraud Is detalled below: Identifying and assessing potentlal risks related to irregularitles In identifyirng and assessing the risks of material misstatement in fftspect of irregularities, including fraud and non Ltd Sta￿tOry Auditor, Chartered Accountants 2 Pavllion thurt 600 Pavilion Dri Northamptrsn Busine55 Park Northampton NN4 7SL Date: 2 4-Jul 2024 ACCOUNTING POLICIES The accounts have been prepafed under the hstorlcal cost convenb'on and In accordan￿ with applicable acccunting stsndards. They compty with the Chartt*s Ststement of ReLommended Practice (SORP FRS 1021 and the Companies Act 2006. The presentation used in the accounts is pounds sterling. The Trustees a￿ confident that the Foundation is able to continue to meet its llabllities as they fall due for the foreseeable futu and that the accounts should be prepared on a goin9 concern basis, Format The charitsble company has taken advantsge of the provisions of the Companies Act 2006 and Presents an income and expenditu￿ ticcount in the fomi of a statement of flnancial activltles on the grounds that It enable5 the financlal statements to sh¢)w a true and fair vlew of the ￿sUIt for the period. Incomlng Resour￿$ Grants are recognised in full In the year in which they a￿ receivable. Oonations a￿ recognised when ttley are recei￿d. Incoming resouros from investments and other sources a￿ included when re￿1Vable. Intangible income, In the form of donated faclllties or services, Is included In the financlal ststements where the amounts can be accurately quanbfEd. The value of se￿1￿ provk1ed by volunteets is not incorporated into these flnancial statements Where seryices are provided to the charltsble company as a donatlon that would normally be purchased from suppllers, this contrlbutlon ts based on the value of the contributlon to the charltable company. Resource5 Expended Resour￿ expended are included on an accruals basls. Grants a￿ provided for in full in the year in which they are authorised. Grants availab￿ on endowment fijnds are based on investment income earned in previous financlal yeaf5, The basis of albcatirJn of costs of raislng funds and charitable activities is as follows: Ratsing funds The costs of raislng funds comprbe those costs directly attrltsutsb￿ to managing and Increasin9 the erthwment fund and ralslng Investment income. Charitable Costs of activltles in furtherano of the charitable company s objects include all related dlrect costs plus attributsble overheads and gowdrnano costs. L¢asehold Zmprovem•nts Expenditure on leasehold improvements ￿latIng th the Foundatlon's offi￿5 at Albion pla￿ a￿ capitalised and will be depreclateo over the term of rhe lease for the bulh11ng, Flxed Assets rhe Foundatson'5 th￿hD￿j for capitslisatiors is £1,000. Expenditure below thls value, on items that may be considered fixed assets, ts written off to the revenue account as the Trustees consider that tme administrats'on cost of Capitsllsat￿n outweighs any benefft to the Lser of these accounts. Fixed Assets wlth a value in eX￿s5 of £1,000 aE depreclated over their anticipated useful life. ACCOUNTING POLICIES (CONTINUED) Fixed Asset Investments Investments are ststed at market value as at the balance sheet date. The ststement of financial acbwttes indudes the net gain5 arMJ losses arising on valuation and distx)sa15 throughout the year, Investment Management Costs Where practicable, invesbnent income (s reported gross and the costs of managing investments are re￿rted separately. With collective in￿ent schemes, such as unit trusts, or common In￿StMent funds, Investment management costs may be inclLKled within the bhJvoffer spread or recovered by transactlon and portfolio charges rather than by a fee charged direttly to the charltsble company. Where it is not prarticable to astsrtain the actual or a notional aPpOrt￿nment of costs charged to the individual participants of schemes with reasonable accuracy then the investment Income is ￿ported after the deductKJn OF such f￿. Restrlcted Funds RestrKted funts a￿ trj LE used for the speclfic purpose laid down by the provider. Expenditure whKh meets these criteria Is charged to the fund. Endowment Funds Investment Income generated from the endowment funds Is usea for grantmaking Sn futu￿ years. Deslgnated Funds l)esonated funds are unrestrlcted funds which a￿ set aside by the Trustees for specific Wr[￿Se5. Contributlon to pension funds DefinedContnbUt￿n scheme The pension costs charged against income represent the amount of contrlbutbns payable to the scheme In respect of the accountirKJ perK)d. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 INCOME & ENDOWMENTS NOTES UNRESTRICTE D FUNDS £ RESTRIcfED FUNDS £ ENDOWME TOTAL 2024 NT FUNDS TOTAL 2023 E DONATIONS & LEGACIES CHARITABLE AcrIvtTIES INVESTMENTS OTHER TOTAL ZNCOME 120,520 24,296 37,911 10,324 193,051 2,075,704 231,548 2,673 204,718 2.400,942 255,844 520,627 10,324 3.187,737 1,9 11,700 287,033 413,223 9,870 2,621,826 480,043 2,309.925 684,761 EXPENDrnIRE ON RAISING RINOS 201,587 765 54,624 256,976 249,S95 CHARrrABLE ACTIVITIES GRANTS PAYABLE EXPENDITURE ON CHARrrABLE AcfiviTIES TOTAL CHARtTA8LE AThrrES TOTAL EXPENDrruRE 2,268,043 426 705,137 2,973,180 297,770 2,522,496 280,702 297,344 297,344 2,268,469 705,137 3,270,950 2,803,198 498,931 2,269,234 759,761 3,527,926 3,052,793 NEr (EXPENDITURE)IINCOME BEFORE NET GAINSI(LOSSES) ON INVESTMENT NEf GAINS(LOSSES) ON INVEsfMEiir (305,880) 40,691 (75,000) (340,189) (430,967) Ilb 87,362 ,254 1,664,687 1,760,303 (698,167) (218,518) 48,945 1.589,687 1,420,114 (1,129,143) (EXPENDITURE)IINCOME TIiANSFERS BWEEN FUNDS NET MOVEMENT IN FUNDS 16118 308,013 102,252 (410,265) 89,495 151,197 1,179,422 1,420,114 (1,129,143) RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD AT I APRIL 2023 TOTAL FUNDS CARRZED FORWARD AT 31 MARCH 2024 319,069 516,864 18,574,941 19,410,874 20,540,017 408,564 668,061 19,754,363 20,830,988 19,410,874 The charitable company has no reco9nised gains or losses other than the results for the pth as set out above. All of the activities of the charitable company are dassed as continuing. SUMMARY INCOME & EXPENDITURE ACCOUNT FOR YEAR ENDED 31 MARCH 2024 2024 £ 2,462,394 5,616 40,584 2023 £ 1,923,748 {17,0881 18,208 INCOME NEf GAINSI{LOSSES) ON INVESTMENTS INTEREST & INVESTMENT INCOME GROSS INWME 2,598.594 1,924,868 ANSFERRED FROM ENDOWME￿ FUNDS TO RESTRicfED FUNDS TFiANSFERRED FROM ENDOWMENT FUND AS INCOME FUNDS FOR EXPENDING 102,252 308,013 107,761 322,788 TOTAL I￿oME 3,008,859 2,355,417 GRA￿rS PAYABLE EXPENDITURE DEPREaATION & CHARGES FOR IMPAIRMENT OF FIXED AssErs 2,268,043 490,230 9,463 1,813,702 466,586 11,408 TOTAL EXPENDITURE 2,767,738 2,291,696 NEf INCOME BEFORE TAX FOR THE REPORTING PERIOD 241,123 63,721 TAX PAYABLE INCf)ME FOR THE FINANCLAL YEAR •• 241,123 63,721 All actIvit￿S are classed as continuing. The requirement to produce thls summary arises from the Companles Act 20(16. It 9ives summary ftgufes ft>r the stricted and unrestrltted funds but excludes the endowment funds. For details of all the charitable company's incomirbg and outgoing ￿OurceS the reader should refer to the SOFA {Statement of Financial Activitie5) (page 27). STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 £ 20Z3 £ CASH FLOWS FROM OPERATING ACTIVITIES CASH PROVIDED BY (USED INI OPERATING AcrivrrIES (988,985) (1,104,050) CASH FLOWS FROM INVESTING ACTIV￿lEs DfviDENDS, INTEREsf & RENTS FROM INVESTMENTS PURCHASE OF PROPERTY, PLANT & EQUIPMENT pRo￿E05 FROM SALE OF INVESTMENTS PURCHASE OF INVESTMENTS 515,240 421,345 loo,000 (11,184) 151,386 (10,778) NET CASH PROVIDED BY (USED IN) INVESTING AcfIviTIES 604,056 561,953 CASH FLOWS FROM FINANCING AcfivITIES REc￿PT OF ENDOWMENT 229,796 285,563 C4SH PROVIDED BY (USED IN) FINANCING AcfiviTIES 229,796 285,563 CHANGE IN CASH & CASH EQUIVALENTS IN THE REPORTING PERIOD (155,134) (256,534) CASH & CASH EQUIVALENTS AT THE BEGINNING OF THE REPORTING PERIOD 334,258 590,792 CPSH & C4SH EQUIVALENTS AT THE END OF THE REPORTING PERfoD 179,124 334,258 RECONCILIATION OF NET INCOME I (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 £ 241,123 2023 £ 63,721 NET INCOMEIEXPENDITURE ADJusfMENTS FOR TFiANSFERS FROM ENDOWMENT FUND GRANTS PAYABLE FROM EMDOWMENT FUNDS EXPENDITURE PAID FROM ENDOWMENT FUNDS DEPRECIATION (GAINS)ILOSSES ON INVESTMENT DIVIDENDS, INTEREST & RENTS FROM INVESTMENTS (INCREASE)/DECREASE IN DEBTORS INCREASEI(DECREASE) IN CREDITORS (410,265} (705137) (430,549) (708,794) 9,463 (95,616) (40,584) 43,241 (31,210) 11,408 17,088 (18,20B) (35,092) (3,624) NEf CASH PROVIDED BY (USED IN) OPEIiATING AcfivITES (988,985) (1, 104,050> ANALYSIS OF CASH EQUIVALENTS FOR THE YEAR ENDED 31 MARCH 2024 2024 É 75,552 103,572 179,124 2023 £ 201,547 132,711 334,259 C4SH IN HAND & AT BANK CASH DEPOSIT ACCOUNTS TOTAL CASH & CASH EQUIVALENTS ANALYSIS OF CHANGES IN NET DEBT FOR THE YEAR ENDED 31 MARCH 2024 AT START OF CASH FLOWS YEAR £ 201,547 132,711 AT END OF YEAR £ 75,552 103,572 CASH IN HAND & AT BANK CASH DEPOSIT ACCOUNTS (125,995) (29,139) TOTAL 334,259 155,134 179,124 BALAN.CE SHEET AS AT 31 MARCH 2024 NOTES UNRESTRICTED REsfRIcfED ENDOWMENT FUNDS £ FUNDS £ FUNDS £ TOTAL 1024 £ TOTAL 2023 £ FIXED ASSE15 TANGIBLE ASSErs INVESTMENTS TOTAL FIXED ASSErs Ila Ilb 24,108 353,081 377,189 24,108 20,742,174 20,766,282 33,572 19,122,038 19,155,610 634,730 634,730 19,754,363 19,754,363 CURRet4T ASSETS DEBTORS & PREPAYMENTS CASH AT BANK & IN HAND TOTAL CURRE￿ ASSErs 12 10,221 74,115 84,336 4,517 93,550 98,067 67,293 11,462 78,755 82,031 179, 127 261,158 147,721 334,258 481,979 CREDrroRS ~ AMouTrirs FALLING DUE IN < l YEAR 13 52,961 64,736 78,755 196,452 (226,7151 NEf CURRENT ASSErs 31,375 33,331 64,706 255,264 TOTAL ASSEfs LESS CURRENT LIA8ILrnES 408,564 668,061 19,754,363 20,830,988 19,410,874 FUNDS UNREsfRIcfED RESTRicfED ENOOWMENT REVALUATION RESERVE 17 18 16 343,350 343,350 662,036 17,032,968 2,792,634 319,069 516,864 17,207,429 1,367,512 662,036 17,032,968 2,721,395 65,214 6,025 TOTAL FUNDS 408,564 668,061 19,754,363 20,830.988 19,410,874 This report has been p￿Pared In accordance with the provisions of Part 15 of the Companies Act 21106 ￿lating to small Compan￿5. These financial statements approved by the Trustees on 24 July 2024. Director.. Rachel Mallows MBE DL Direttor.. Dominic Winfleld NOTES TO THE FINANCIAL STATEMENTS I - STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 NOTES UNRESTRICTED FUNDS £ RESTRIcfED FUNDS £ ENDOWMENT FUNDS £ TOTAL 2023 £ INCOME & ENDOWMENTS FROM DONATEONS & LEGACIES CHAR￿ABLE ACTlVtTES INVESTMENTS OThER TOTAL INCOME EXPENDITURE ON: RAISING FUNDS CHARrrABLE AcrivrrIES GRANTS PAYABLe E%PENDITURE ON CHARrrABLE AcrivrriES TOTAL CHARITABLE AcrIvrrIES TOTAL EXPENDrnPRE (EXPENDITUREII INCOME BEFORE NEf GAINSI (LOSSES) ON INVESTMENTS NEf GAINSI (LOSSES) ON INVESTMENT NEf (EXPENDITURE)IINCOME TFiANSFERS B￿EEN FUNDS MOVEMENT IN FUNDS RECONCILIATION OF FUNDS TOTAL BROUGHT FORWARD AT I APRIL 2022 TOTAL FUNDS CARRIED FORWARD 31 MARCH 2023 155,187 22,767 14,396 9,870 202,220 1,471,658 264,266 3,813 284,855 1,911,700 287,033 413,223 9,870 2,621,826 395,014 1,739,737 679,869 195,457 1,836 52,302 249,595 1,813,702 4,969 708,794 2,522,496 280,702 275,733 275,733 1,818,671 708,794 2,803,198 471,190 (268,970) 1,820,507 (80,770) 761,096 (81,227) 3,052,793 (430,967) Ilb (16,720) (368) (681,088) (698,176) (285,6901 331,905 46,215 (81,138) 98,644 17,506 {762,315) (430,549) (1,192,864) (1,129,143) 16118 (1,129,143) 271854 499,358 19,767,805 20,540,017 319,069 516,864 18,S74,941 19,410,874 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 2 - DONATIONS & LEGACIES 2024 2023 UNREsfRICTED FUNDS Avon Corporate Giving ECFI Friends of the Foundation Harris & Co Household Support Fund 2 Household Support Fund 3 Household Support Fund 4 KHL Robert Horne Foundatlon St Giles ChoritEs Estats Northampton The Wilson Foundation Other 1,000 912 7,029 5,053 5,500 7,995 3,240 5,000 59,830 57,020 10,000 80,000 909 9,090 2,727 909 8,376 3,182 7,935 TOTAL UNRESTRICTED FUNDS 120,520 155,187 2024 £ 2023 £ RESTRICTED FUNDS Avon Briggs & Forrester Fund Corporate Giving Frlerhts of the Foundation Fund Hackleton Rel*f in Need Harry's Fund Hlgh Sherlff Scholarshlp Fund Household Support Fund 3 Househokl Support Fund 4 KHL Lieutenancy Emergency Fund Mick and Sheila White Fund Proceeds of Crime Fund Povety Hurts Robert Horne Foundatlon Rural Needs Sports Fund St Giles Charities Estate Northampton Fund Warm This Winter Fund Family Food Aid Fund Welcome Furnd TOTAL RESTRICTED FUNDS 9,000 {16,977) 2,738 12,387 10,840 2,224 9,474 1,386 8,485 1,889,700 9,091 3,989 1,283,495 392 3,125 64,565 97 20,598 90,909 1,000 24,288 370 31,818 16,255 5,050 27,273 7,254 9,635 18,901 1,471,658 1075,704 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ENDOWMENT FUNDS Ajistsir James Memorial Trust Fund DEL Northamptonshire Fund Food 4 Her￿S Friends of the Foundation John Armitsge Charitable Trust Fund John Chard Young Legacy Fund John Salmon Legacy Fund NorthamptonshI￿ High Sheriffs Initiative Fund Rachel's Fund The Kenneth Fund The Smith Family Fund The Suede Respite Fund Other 2024 £ 3,750 20,000 2023 £ 1,450 53,500 500 10,8440 70,000 11,937 70,000 26,487 3,709 4,785 825 9,618 125,000 1,375 10,812 935 62,500 1,550 TOTAL ENDOWMENT FUNDS 204,718 284,855 TOTAL INCOME FROM DONATIONS & LEGACIES 2,400,942 1,911,700 3- CHARITABLE ACTIVITIES UNRESTRICTED FUNDS Burton Wold Wind Farm New Alblon Wlnd Farm UKCF EKMS supportlng Povety Hurts UKCF Anchor Fund UKCF ACE Fund UKCF Slr George Earle Trust Winwick Wind Farm Yelvertoft Wind Farm Iwill Fund in partnetship with The Wllson Foundatlon 2024 É 5,443 4,082 716 3333 561 150 2,702 7,309 2023 £ 5,688 3,664 290 2,675 6,703 3,747 TOTAL UNREsfRICTED FUNDS 24,296 22,767 RESTRZCTED FUNDS Burton Wold Wind Farm Community Benefit Fund Jubilee Fund UKCF Anchor Fund UKCF supporting Povety Hurts New Albion Wind Farm Sir George Earle Trust Fund Winwick Wind Farm Community Benefit Fund ye￿ertQft Wind Farm Communrty Benefit Fund Iwill FuTrJ In partnershlp with The Wllson Foundallon 2024 £ 54,428 2023 £ 56,885 (754) 33,333 22,614 36,639 40,822 2,857 27,021 73,087 26,753 67,032 55,097 TOTAL RESTRICTED FUNDS 231,548 264,266 TOTAL INCOME FROM CHARITABLE AcfIviTIES 255,844 287,033 4- INVESTMENT INCOME 2024 £ 514,812 5,815 520,627 2023 £ 410,626 2,597 413,223 FIXED Ass￿ INVESTMENTS INTEREST ON BANK ACCOUNTS TOTAL INVEsfMENT INCOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 5- OTHER INCOME 2024 £ 10,324 10,324 2023 É 9,870 9,870 SUNDRY INCOME TOTAL OTHER INCOME 6 - CHARITABLE AcfIviTIES GRANTS PAYABLE INDIVIDUALS GROUPS TOTAL GRANTS PAYABLE 2024 £ 1,275,809 1,697,371 1973,180 2023 É 790,043 1,732,453 2,522,496 7- ANALYSIS OF SUPPORT COSTS RAISING FUNDS CHARITABLE ACTIVITIES 221,476 3,236 3,140 12,979 TOTAL BASIS OF ALLOCATION Direct stsff cost Direct stsff cost Attivity based Dirett cost Direci cost Activity based Attivity based Usage alliKatlon STAFF COSTS OTHER STAFF RELATED COSTS CONTIiAcfEWUT SERVICES GOVERNANCE INVESTMENT MANAGEMENT 153,545 2,279 375,021 5,515 3,140 12,979 55,041 30,356 9,657 63,047 554,746 55,041 12,560 9,657 23,894 256,976 PR & MARKEfiNG GENERAL OFFICE COSTS TOTAL 17,785 39,153 297,770 COST OF RAISXNG FUNDS STAFF SALARIES OTHER STAFF-RELATED COSTS CONSULTANCY FEES PUBUCITY & MARKETING INVESTMENT MANAGEMENT FEES SUPPORT & EXPENDITURE OFFICE EXPENSES DEPRECIATION OFFICE REFURBISHMENT TOTAL COST OF RAISING FUNDS 2024 £ 153,545 2,279 20Z3 £ 126,162 6,813 13,780 19,088 52,302 8,914 17,402 5,134 9,657 55,041 12,560 19,636 4,258 256,976 249,595 CHARrrABLE ACT￿rnES STAFF SAL4RIES OTHER STAFF-RELATED COSTS RENT & RATES OFFICE FURNITURE & EQUIPMENT TELEPHONES, POSTAGE, PRINTING & STATIONERY IT SUPPORT & EXPENDITURE CONSULTANCY FEES LEGAL & PROFESSIONAL FEES AUDIT FEES DEPRECIATION OFFICE REFURBISHMENT OTHER TOTAL COST OF CHARITABLE ACTIVITIES 2024 £ 221,476 3,236 2023 £ 203,995 5,455 58 4,600 17,785 91 4,152 14,755 3,140 12.700 5,205 6,540 11,300 6,274 29,570 297,770 28,140 280,702 33 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED! 8- NEf EXPENDrruRE FOR THE YEAR THIS IS STATED AFTER CHARGING: 20Z4 £ 9,852 9,463 12,700 2023 £ 8,047 11,408 11,300 STAFF PENSION CONTRIBUTIONS DEPRECIATION AUDtTOR5 FEES 9- TRUSTEES & EMPLOYEES 2024 £ 335,178 29,991 9,852 375,021 2023 £ 295,725 26,378 8,047 330,158 SALARIES SOCIAL SECURITY COSTS PENSION COSTS TOTAL EMPLOYEE SALARY COSTS The average employee headcount durlng the financlal year was 8.75 (2023: 8.42) and the average number of employees (full- tlme equlvalentl was 8.75 (2023: 8.07). AVERAGE HEADCOUNT AVERAGE NUMBER OF EMPLOYEES (FULL TIME EQUIVALENT) 2024 2023 2024 2023 MANAGEMENT ADMINISTRATION TOTAL 6.75 8.75 6.42 8.42 6.75 8.75 6.07 8.07 One employee (2023: one) earned In excess of £60,000 durln9 the year In the folbwing salary bands.. SALARY BANDS £60,000 - £70,000 £70,000 - £80,000 2024 £ 2023 £ The total remuneration pald to the key management personnel during the year was E131,400 (2023.. £126,481). Durlng the perlod the Trustees recelved remuneratlon totallng £nil (2023: £nlll. No clalms were ma(k by Trustees (2023: £nil} for the ￿1mbur5errÈnt of travel expenses in thls financlal year. The Foundatbn operates a Workpla￿ pension xheme under the government's auto*nrolment regulations. The assets of these schemes a￿ hekl separately from the Foundatlon. The total cost to the Foundatlon for the year was £9,852 (2023: E8,047). The Salary costs ￿re allocated to the following attivlties on the basis of the activities of each member of staff who works for the Foundat#?n: 2024 £ 153,545 221,476 375,021 2023 £ 126,163 203,995 330,158 AISING FUNDS CHARrrABLE ACTIVITIES TOTAL 10- VOLUNTEERS The foundation trains and co-ordinates a network of volunteer Grants Assessors who suP￿rt the assessment of grant aPp1Kat￿)nS for grants panels. 34 NOTES TO THE FINANCIAL STATEMENTS CCONTINUEDI 11(A) - FIXED ASSETS LEASEHOLD IMPROVEMENTS £ 100,891 IT EQUIPMENT £ OTHER EQUIPMENT £ 1,794 TOTAL £ COST AT I APRIL 2023 ADD￿loNs DURING THE YEAR DISPOSALS DURING THE YEAR cosr AT 31 MARCH 2024 DEPRECIATION AT I APRIL 2023 CHARGE FOR THE YEAR DISPOSAL DURING THE YEAR DEPREaATION AT 31 MARCH 2024 14Ef BOOK VALUE AT 31 MARCH 2023 AT 31 MARCH 2024 22,100 124,785 100,891 68,228 8,711 22,100 21,192 752 1,794 1,794 124,785 91,214 9,463 76,939 21,944 1,794 100,677 32,663 23,952 908 156 33,571 24,108 11(B)- FIXED ASSET INVESTMENTS UNRESTRICTED FUNDS £ 169,315 RESTRICTED FUNDS £ 242,884 ENDOWMENT FUNDS £ 18,709,839 TOTAL 2024 TOTAL 2023 £ 20,014,309 VALUATION AT I APRIL 2023 19,122,038 ADDrrtONS 365,947 400,865 1,802,168 2,568,980 10,778 DISPOSALS (269,542) (17,272) (2,422,333) (2,709,147) (204,873) R￿usED (LOSSES)/GAINS ON DISPOSALS DURING THE y￿ft INCREASE/(DECREISE) IN MARKEf VALUE DURING THE YEAR VALUATION AT 31 MARCH 2024 22,147 2,228 310,806 335,181 51,385 65,214 6,025 1,353,883 1,425,122 (749,561) 353,081 634,730 19,754,363 20,742,174 19,122,038 The historical cost of investments held at 31 March 2024 was £17,949,540 (2023: £17,749,484) Investments a￿ all listed and held in fvnds held wlth a varlety of Open Ended Investment Companle5 and Unlt Trusts. These investments a￿ anal￿ as follows.. 2024 £ 13,744,508 3,495,585 335,324 1,837,674 1,250,236 20,663,327 2023 £ 11,836,034 3,304,466 240,712 2,294,526 1,446,300 19,122,038 COLLECTIVE EQUITIES FIXED INCOME COMMERCIAL PROPERTY MULTI-ASSEf I INFRASTRucfuRE OTHER TOTAL FIXED ASSET INVESTMENTS At 31 March 2024, the following holdings Within the investment portfolio ￿presented more than 50ktr of the value of the fund. VALUE £ 8,467,770 CCLA COIF Charities Investment Fund 40.98 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 12- DEBTORS 2024 £ 76,046 5,985 82,031 2023 £ 74,919 72,802 147,721 PREPAymE￿s & ACCRUED TNCOME OTHER DEBTORS TOTAL DEBTORS 13- CREDITORS 2024 £ 129,650 44,051 22.751 196,452 2023 £ 62,872 43,383 120,460 226,715 COMMIThED GRANTS ACCRUALS OThER CREDITORS TOTAL CREDITORS 14- SHARE CAPITAL & MEMBERS LIABILITY The charitable company Is Ilmited by guarantee and does not have share capitsl. In the event of the charitable company being wound up, every dlrector, whllst a dlrector and wlthln one year of oasing to be a dI￿ttor, undertakes to contrlbute a maximum of EIO to meet the liabilitEs of the charitsble company. 15- ULTIMATE CONTROLLING PARTY The charltable company b under the ultlmate control of Sts Trustees as Ilsted on page two. NOTES TO THE FINANCIAL STATEMENTS CCONTINUEDI 16- ENDOWMENT FUNDS BALANCE BIFWD £ 2,203 INCOME E EXPENDITURE £ TRANSFERS É BALANCE CIFWD £ 4,173 Alistsir James Memorkil Trust Fund Coles and RI￿ ￿jnd constan￿ Travis Charitab Trust Fund Corby Parochial Charities Fund Corby Village Communty Ass￿lat￿}n Fu￿5 Davld Laln9 Family Endowment Fund DEL NorthamptOnShl￿ Fund F(M)d 4 Heroes Enik)wment Fund Friends of the FoundatH)n Endowment Fund Henry Martln Centenary Enikiwment Fund John Chard Young Legacy Fund JKLM Foundation Fund Mlck and Sheila White Fund Northamptonshire High Sheriffs Inltiative Endowment Fund Northamptonshlre Education Trust Endowment Fund Permanent Endowment Fund The Compton Fund for Arts, Culture and Heritage In Northamptonshire The Probatlon offi￿r5 SamarStans Trust Fund The Smith Family Fund The Suede Respite Fund Total Other Endowmont Funds 4,025 (2,011) (44) 352,235 5,253,354 37,059 550,512 (4,848) (118,157) (5,399) (100,654) 379,047 5,585,055 17,026 36,425 1,803 3,858 {64) (137) (262) (561) 18,503 39,585 47,831 5,036 (180) (2,266) 50,421 9,577 61,883 77,147 22,296 6,555 18,390 (17,418) (234} (310) (343) (953) (2,885) 14,112 67,251 92,342 17,674 2,149 (16,543) 16,391 19,671 28,802 230 2,837 20,729 (1,219) (8) (2,603) (13,246) {1,2SO) (33) (250) (956) 26,333 2,363 29,002 163,924 2,174 29,018 157,397 110,981 11,702 (2,918) (1,704) 118,061 214,029 623,480 24,318 62,330 ( L,801) (14,475) <3,3131 (48,363) 233,233 622,972 38,901 4,120 <147) (599) 42,275 3,980 388, 103 7,443rt18 422 108,881 916.054 (15) 111,662) (207,996) (61) (6,6851 (160,190) 4,326 478,637 7,991,Z86 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 16- GRASSROOT ENDOWMENT FUNDS BALANCE BIFWD £ 206,119 INCOME £ EXPENDMIRE £ TRANSFERS £ BALANCE CIFWD £ 156,935 Burnett Grassrnots Endowment nd Cave & Sons Grassrcrfjts Endowment FurKI Ceal Pettit Grassrcots Enthwment FurKJ Ger&ls Housln9 Grassroots Endowment Fund Jonathan Pearson Grassroots Endowment Fund NorthamptonshI￿ Hyh Sheriffs Initiative Grassroots Endowment Fund Splre Homes Grassroots Endowment Fund Sutton Bassett Village Trust Grassroots Endowment Fund Wooden Spjon Grassroots Endowment Fund Total Grassroots Endowment Funds 19,464 (65,714) (2,934) 12,865 1,363 (49) (198) 13,981 72,259 7,282 (17,997) (1,079) 6D,465 24,911 1,214 (15,051) (238) 10,836 134 14 (i) (2) 145 255,077 27,242 (969) 281,350 186,021 19,703 (702) (2,865) 202,157 4,937 523 (19) (76) 5,365 158,537 16,507 (3,590) (2,412) 169,042 920,860 93,312 (104,092) (9,804) 900,276 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 16- COMMUNITY FIRST ENDOWMENT FUNDS BALANCE BIFWD £ 214,572 INCOME £ EXPENDITURE £ ThANSFERS £ BALANCE CIFWD £ 238,198 Always a char￿ Communty First En(h)wment Fund Bumett Communty ￿[St Endowment Fund constan￿ Travis Community First Endowment Fund David Lairng Community First Endowment Fund Friends of the Foundatlon Q)mmunity First En(kswment Fund General Community h'rst Endowment Fund Henry Martin Centenary Community First Enth)wmeDt Fund Hevey Bullding Supplies Communty Fitst Enthjwment FurKI John Armitsge Communty First Endowment Fund Marga￿t GSffen Community First Endowment Fund )rthamptonshire High Sherlffs Initiative Community First Endowment Fund Northamptonshlre St J)hn s Ambulance Communty First Endowment Fund The Compton Communty Arst Endowment Fund The Northampton Queen's Instltute Community First Enthwment Fund Wellingborough Relief in Need Community First Endowment Fund Wi150n Browne Community Fltst Endowment Fund Wooden Spoon Community First Endowment Fund Total Communlty Flrst Endowment Fun¢ts 26,961 (5) (3,330) 71,991 9,054 (1,117) 79,928 1,781,368 207,765 (169,245} (26,137) 1,793,751 452,113 56,577 (12,120) 496,570 139,555 18,092 (7,925) 149,722 4,056 520 (18) 4,594 125,281 14,402 (18,521) 121,162 27,381 3,166 (37) (1,506) 29,004 247,828 99,678 (283) (73,837) 273,386 206,552 25,014 (12,258) (3, 119) 216,189 48,368 6,134 54,502 21,025 2,64 (327) 23,342 28,585 6,772 38,432 73,789 2,027,252 243,445 (130,757) {30,257) 2,109,683 31,720 3,977 (650) (491) 34,556 19,853 2,497 (308) 22,042 41,898 5,269 (650) 46,517 5,489,398 731,967 (313,235) (141.195) 5,766,935 NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI 16- CONSTANCE TRAVIS ENDOWMENT MATCH CHALLENGE ENDOWMENT FUNDS BALANCE BIFWD £ 32,469 INCOME £ EXPENDITURE £ TrANSFERS £ BAIANCE CIFWD £ 35,285 Alistsir James Memorlal Trust Fund Constano Travis EMC Fund Alwa￿ a Chance Constsnce Travis EMC Fund Bumett Constar£e Travis EMC Fund Cecil Pettit constan￿ Travts EMC Fund Davld Lalng Famity Constan Travis EMC Fund Food 4 Heroes Constsno Travis EMC Fund FrEnds of the Foundation C0nStsn￿ Travis EMC Fund General Con5tano Travis EMC Fund Hevey Building SupplEs Constsn Travls EMC Fund JKLM Foundation Constance Trav EMC Fund John Amitage constan￿ TravLs EMC Fund John Salmon Legacy Constsn Travis EMC Fund Lesley Church Memorial Constsn Travis EMC Fund Marga￿t Glffen constan￿ Travls EMC Fund Mark Taylor Charitable T￿￿t C0nStsn￿ Travis EMC Fund Mkk and Sheila White Constan Travls EMC FurKI Northamptonshlre Educatlon Trust constan￿ Travis EMC Fund Northamptonshire HKJh Sheriffs Initiative Constance Travis EMC Fund Sutton Bassett Village Trust constan￿ Travis EMC Fund The Kenneth Fund Constano Travis EMC Fund The Smith Family Constsnce Travis EMC Fund The Suede Respite Fund Qjnstsn Travls EMC Fund Total constan￿ Trav6 Endowment Match Challenge Endowment Fund Totsl Endowment Funds 3,439 (123) (500) 62,844 6,656 (237) (968) 68,295 592,170 910,487 110,642 96,436 (2,089) (3,436) (9,455) (14,022) 691,269 989,465 29,748 3,132 (112) (1,409) 31,359 195,534 20,710 (738) (3,011) 212,495 52,417 7,459 (204) (1,715) 57,957 86,333 7,552 75,629 800 <5,863) (29) (1,609) (116) 154,490 8,207 566,928 59,927 (2,137) (14,420) 610,298 71,623 7,586 (270) (1,103) 77,836 133,461 17,922 (S05) (2,062) 148,816 611,694 64,789 (2,308) (9,421) 664,754 162,741 17,237 (614) (2,506) 176,858 210,514 22,297 (795) (3,242) 228,774 6,901 737 (26) 7,612 42,511 4,503 (160) (655) 46,199 10,993 1,174 (42) 12,125 213 23 (i) (3) 232 578,665 49,367 (113,407) (27,386) 487,239 3,728 395 (14) {57) 4,052 351,739 37,255 (1,328) (5,417) 382,249 4,721,265 608,115 (134,438) (99,076) 5,095,866 18,574,941 1349,448 (759,761) (410,265) 19,7S4,363 The income fKJures St￿Wn in the tsble above include realised gains on investment assets of £310,805 and unrealised galns on investment assets of £1,353,882. These a￿ reported in the statement of flnanclal aCtI￿ties. ENDOWMENT FUNDS During 2023124 the Foundation received £204,718 (2023: £284,855) in Endowment Fund donattons. The enthiwment funds totslled £19,754,363 as at 31 March 2024. TRANSFERS FROM ENDOWMENT FUNDS Provision 15 made in the majority of En(kJwment funds for management and administration costs. These costs a￿ borne by UnreStr￿[ell fu(Mls and tnen an appropriate transfer Is made in accordan￿ with the fundir4J agreement on an annual basi5. NOTES TQ THE FJNAN.CIAL STATEMENTS CCONTINUE.D.) 17- DESIGNATED FUNDS Within the Unrestrtted funds the Trustw have designated separate funds totsling £114,255 (2023: £126,788). This includes £22,455 (2023: £17.588) that has been set aside by the Trustees to cover potent￿1 financial liabilities that would arise if the organisatK*n were to close. In additts)n, the Trustees have set up a separate designated premises fund of £26,100 (2023,. £43,500} to cover futu￿ costs for 3 years arising from the Foundation's Offi￿ premises and a desfgnated key-man fund of E65,700 (2023. £65,700) to cover 6 months of salary costs of key management staff in case of long-term sickness. 18 - RESTRICTED FUNDS BALANCE BIFWD £ 32,655 INCOME £ EXPENDMIRE £ TRANSFERS £ BALANCE CIFWD £ 15, 193 10,894 3,465 589 141,047 3,934 18,822 2,389 1,634 5,493 12,906 1,192 10,109 1,162 23,280 325 ANvays a Chan Anchor Fund Avon Fund for Women and Glris Bambino Fund Burton Wold Wind Farm fijnd Corporate GSving NetMrk Crary Hats DLF Ad￿naline Alley Loan ENGIE Fund Family Food Aid Frlends of the Foundation Fund Hackleton RelÈf in Need Hatys Fund Hevey Buildlng SupplÈs FufKI Hlgh Sheriff Scholarship Fund Household Supp)rt Fund 3 Household Suprx)rt Fund 4 KHL Big Local Fund Lleutenancy Emergency Fund Made by SFort Fund Mick and Sheila White Fund New Albion Wind Farm Fund Northamptonshire Federation of Dtsability Sport Fund Northamptonshire Literary Fund Northamptonshire St. Johns Fund Poverty Hurts Proceeds of Crime Fund Royal & Derngate Hardship Fund Rotert Home Fund Rural Needs SEGRO Fund Sir C*orge Eark Fur Social Enterprise Fund s￿rts Fund St. Glles Charrties Eststes Northampton Fund Survlving Winter hjnd Northamptonshire Welcome Fund Winwick Wind Farm fijnd Yelvertoft Wnd Farm Fund Total Restricted Funds 2,120 33,333 398 57 54,427 2,887 1,823 (486) 159 5,050 13,407 (19,582) (22,439) (6,017) (2) (57,962) (3) (6S) (769) (6) (500) (19,203) (940) (14) (2) (581) (8,160) (1,890,000) (5,810) (858) 9,084 534 144,582 I,oso 17,064 3,6H 1,481 993 11,670 2,224 (50) 7,032 (94) 10,123 75 3,650 8,485 1,889,700 9,091 317 1,089 (305) 20,516 300 4,140 3,541 178 7,421 2,914 178 (86) 127 4,529 40,822 (21,415) 19,534 4,529 1,611 6,820 11,703 172 729 96 64,566 (6) (26) (14,583) (22,500) 1,777 7,523 2,784 (2,250) 39,816 1,438 35,358 137,702 1,614 1,438 71,358 I,DOO 17,192 (36,000) 24,288 1,479 2,857 112,414 (17,000) (57) (2,857) 1,476 1,476 370 370 31,818 (29,080) (2,738) 7,208 16,255 (6.959} 106 16,610 1,505 1,505 5,177 130,685 668,061 27,021 73,087 1318,179 {21,844} (80,993) (2,269,234) 138,591 516,864 101252 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) RESTRIcfED FUNDS The income figures shown in the tsble above includes reallsed galns on investment assets of £2,228 and unreali5ed gains on investment assets of £6,025 retKJrted in the ststement of financial activlties. Detsils of grants awar(led from restricted and er)dowments funds are set out on pages 13 to 14 of the Trustees, report. TrANSFERS FROM RESTRicfED FUNDS Provision is made in the majority of restricted funding Streams for management and administration costs. These costs are borne by unrestricted funds and then an appropriate transfer is made in accordance with the funding ag￿rnent on an annual basis. 19 - RELATED PARTY TRANSACTIONS During the year, Dav*S Laing, the Patron of Northamptonshire Communlty Foundatlon, made thnatk)ns totalling £20,000 {2023: £53,500) to the FOUndat￿n. The David Laing Foundation Is also the Landlord OF the proFErty where the Foundaticin's offices are located. The FoundatN)n will occupy the buildin9 for the next 3 years. In general, ￿lated party transattions are recorded as thelr open market value but the kase of the Foundatlon's offI￿S Is accounted for on an annual £1 reppercorn rent. Keith DavKlson made (kjnations of E612 (2023.. £300), GLSY Schanschieff M8E, OL made donations of £2,500 (2023: £2,500), Jenny Jackson-stops made donations of £900 (2023.. £775) and Robert Tomkinson made a (tr)nation of £1,225 (2023., £1,375),, all of whom are mern￿rs of the Foundation. The charitable company also re￿Ned donatlons durin9 the financlal year of £1702 from Rachel Mallows, £120 from Liam Condron, É150 (2023.. E400) from Joanna Gordon £194 (2023: £163) from Peter Borleylox; £1,025 (2023 £1,188) from Nancy Stewart, £1,550 (2023 EI,612) from Richard Dlmblebyi £145 from Ed Caswell, £25 from Dom Wlnfield, all of whom are Trustees of the Foundation. The Foundation also received a donation of £1,248 (2023.. £1,248) from UpFer Limb which is owned by the husband of Janine Jepson who was a Trustee of the Foundatlon and the Foundation received donations of £35,000 (2023.. £30,000} from St. Giles Charity E5tate5 of which ￿aM Condron 15 a Trustee a5 well as a Trustee of the Foundation. The Foundation received £70,000 (2023.. E70,000) from The John Armitage Charitable Trust which William Franklin is a trustee of. The Foundation received £500 (2023 £1,000) from Stewart Energy, a company which Nancy Stewart is a d1￿ctOr of. Vlrglnia Anne Burnett DL is a Member of the charity and Is also a co.opted member of its Finano, Investment and Governance commtttee, Funds totalliro £928,13012023', £870,279) are held on behalf of the Burnett family, Joanna Is on the management commlttee of The Northampton Theatres Trust Llmlted. Thls or9anisatlon recelved grants totsllin9 £21,500 (2023.. £2,500) from the FcundatSon for the Royal & Dern9ate Theatre and The Core at Corby Cube, No further transactK)ns requiring disdosure under SORP 2019 {FRS102) occurfftd during the year. 20- OPERATING LEASE The David Laing Foundation Is the Landlord of the propety Whe￿ Northamptonshire Community R)undation's offices a located. Northèmptonshire Community Foundation wlll occupy the building for the next 3 years, on an annual £1 Feppercorn nt. 21- FINANCIAL COMMrrMENTS At 31 March 2024 the chartsble company was committed to maklng the folkjwing payments urKler non￿n￿lIable operating leases. LAND & BUILDINGS 2023124 E 2022123 £ OTHER 2023124 É 2022123 £ OPERATING LEASES WHICH EXPIRE: WITHIN I Y&4R 8EfwEEN 2 & 5 YEARS LATER THAN 5 YEARS 42 APPENDIX ONE: GRANTS PAYABLE GRANTEE NUMBER OF GRANTS TOTAL VALUE OF GRANTS I,0￿.00 l,2C￿j.[)) 2,878.29 3,000.(WJ 3,000.00 6,052.50 5,CW. 13,879.50 3,000.00 2,880.00 3,052.40 2,375.55 5,000.th) 5,000.IyJ 3,000.00 4,285.71 4,285.71 3,640.00 1,000.00 30,000. 12,000.(M] I,000,00 3,000.00 7,800.00 12,321.35 5.900.00 4,285.71 4.955,50 6,400.00 7,243.47 1,000.00 846.20 I,000.¢)J 4,603.00 3,308.00 25,088.00 11,710.39 2.OCKI,00 1,300.¢XI 4,985. 6,020.70 3,000. 7,995.TrJ 5,000.00 3,000.00 750.00 IITH M)RTHAMPT()N BOYS BRIGADE A61LITY NORTHANTS ABINGTON LAWN TENNIS CLUB AcfioN FOR HAPPINESS NORTHAMPTONSHIRE ADRENALINE ALLEY AFRIC4N YOUTH ARISE AGE UK NORTrIAMPTONSHIRE ALBANIAN CULTURAL ASSOCIATION AMALGAMATtON COMMUNITY ANWAR ARABIC & CULTURAL SCHOJL CIC ASPIRE PRODUCTIONS CIC BABY BASICS BAK UP CIC BARDIC CHAIR NORTHAMPTON BAREFOOTED BRACKLeY FOOD BANK BKAUNSTON HEART BREXWORTH COMMUNITY CHURCH BROLGHTON PL4YING FIELDS AND VILLAGE HALL ASSOCtATION BURTON L4TIMAR TOWN COUNCIL BURTON LATIMER TOWN CRICKET CLUB C2C SOCIAL AcfioN CANDOCARE CO-OPERATIVE C.I.C CARBON THEATRE CARE AND REPAIR NORTHAMPTONSHIRE C4STLE HILL UNrrED REFOMED CHURCH ctTIZENS ADVI￿ WEST NORTHAMPTONSHIRE AND CHERWELL COLD ￿SHBy GOLF CENTRE COMMUNITY COURTYARD COMMUNITY SERVICE CORBY CUBE CORONATION ART COMPErtTION CRANSLEY SALUNG CLUB CREATING EQUALZ CRICK ALLOTMENT SOCI￿ LTD CRICK COMMUNITY SPORTS CENTRE CRICK OLD SCHOOL CRICK SCARECROW FESTIVAL COMMIThEE CRICK WOODLANDS DANCEMIND DAVENTRY AREA COMMUNIIY TFiANSPORT DAVENTRY CONTAcr DEAF FIRST NORTHAMPTONSHIRE DEEP ROOT TALL TREES DEMENTL4 SINGS OUT DINGLEY 43 APPENDIX ONE: GRANTS PAYABLE (CONTINUED) DODDRIDGE CEMfRE DOSTIYO ASLAN WOMEN & GIRLS ORGANtSATION EMMANUELCOFFEE EMl•tANUEL GROUP OF CHURCHES FERMYNWOODS CONTEMPORARY ART LTD F￿D FOR THOUGHT DAVENTRY FORELANDS FIELDS FRIENDS OF CRANFORD SCHOOL FRIENDS OF EAST HUNSBURY PRIMARY SCHOOL GLASGOW CHILDREN'S HOSPITAL CHARITY GROWING TOGETHER NORTHAMPTON GUILSBOROVGH PLAYING FIELD ASSOCIATION GUILS8OROUGH VILL4GE HALL HAcK￿oN & DISTRicr wi FACKLEfoN PRE SCHOOL HEADWAY EAST NORTHANTS HEMMINGWELL COMMUNITY AND SKILLS CENTRE CIO HIGHAM FERRERS GATEWAY CLUB IOME START DAVENTRY AND SOUTH NORTHANTS HOME START KEThERING HOME START NORTHAMPTON HOME START WELLINGBOROUGH MESTART LONDON HOPE ENTERPRISES HOPE FOR FAMILIES IMPACT-NOW INTO UNIVERSIIV ISABELLE MCNICKLES KIDSAID LAUGH OUT LOUD ThEATRE LEfs DRAW UNWOOD COMMUNITY COOPERATIVE MANNA HOUSE TRUST MCCARThEY DIXON FOUNDATION ME2CLUB MOULTON COMMLINrTh cio NENE MALE ASSEMBLY NENE VALLEY CJRE TRUST * FUSS MEALS FOR BUSY PARENTS CIC NORFAMTON NORThAMPTON BANGLADESHI ASSOCIATION NORTHAMPTON BAsK￿BALL CLU8 NORTHAMPTON FILM FESTIVAL NORTHAMPTON HOPE CENTRE NORTHAMPTON IRISH SUPPORT GROUP NORTHAMPTON SAINTS FOUNDATION )RTHAMPTON SWIMMING CLUB NORTHAMPTON TOWN FOOTBALL IN THE COMMUNITY NORTHAMPTON TOWN OF SANcfuARY NORTHAMPTONSHIRE ACRE NORTHAMPTONSHIRE CARERS 10,285,71 7.235.46 3,000.00 8.000.00 49,215.00 6,119.66 500. 11.373.24 5.IXK).(KJ 500.00 30,172.73 5,lJOO. 2,875.00 440.00 soo.00 2,000.00 2,945.99 7,OCQ.00 2,gJO.CiI 2,orA.00 8,350.00 L4,845.00 5,000.IJO 600,000.00 882.00 3,9QJ,lJO 45,000.00 2,857.20 2,562.84 2,887.50 5,000.00 7,813.93 18,000.00 7,785.72 S￿.00 5,000.IJ) -778.81 3,000.00 6,250.00 3.000.00 4,285.71 6,000.00 6,000.00 9,285.71 5,000. 22,5CQ.00 2,500.00 8,694. 5,320.00 3,000.00 5.000.00 44 APPENDIX ONE: GRANTS PAYaBLE (CONTINUED.) NORTHAMPTONSHIRE MIND JRTHAMPTONSHIRE MUSIC AND PERFORMING ARTS TRUST NORTHAMPTONSIIIRE RIGHTS AND EQUAUTr COUNCIL NORTHAMPTONSHIRE SPORT )RTHAMPTONSHIRE TKAMK)UNE GYMNASTICS ACADEMY NORThANTS VILLAGE CINEMA NORTHANTS YOUTH MUSIC 23 OUNDLE FRINGE FESTIVAL OUT OF CLASS OUTSIDE IN THEATRE PAThISHALL EVENTS P BOULTON PEAK EMPOWER PEARLS OF PEACE PINK HOUSE ARTS CIC POWER OF THE MIND NETWORKS PROJE￿ 16'.15 PROUT RCW VETERANS CIC RE.'STORE NORTHAMPTON READ EASY CORBY AND KEThERING RIGHT RESOLUTION COMMUNITh INTEREST COMPANY ROCKIN, ROADRUNNER ROYAL AND DERNGATE RUSH 2 THE DEN Torrs AND ADULTS RUSHTON PARISH COUNCIL RUSHTON VILLAGE HALL SERVICE SIX SHINE DEVELOPMENT CONCEPT CIC SHINEI ARTS & WELLBEING CIC SNVB SOL LAUG HAVENS CIC SOUThERN QUARTER OEVELOPMENT LTD SPORT4FITNESS CIC SPRING BoRoL￿H5 VOICE SPRING CHARITY SPRINGS FAMILY CENTRE ST RAGENER srANWICK BOWLS CLUB THE CORE AT COR8Y CUBE THE CUKATOR EDUCATOR THE GOOD LOAF THE LOWDOWN THE NEVER ALONE PROJEcr THE K)RTHAMPTON LABOUR CLUB LIMITED - THE L4B THE PAMG4RHIA BOARD NORTPIAMPTON THE SHACK FOOD PROJEcr THOMAS'S FUND TOWCESTER FOOD BANK TOWCESTER MIDSUMMER MUSIC FESTtVAL TWINFEST NORTHAMPTON 4,600.00 2,980.00 3,813.00 1,539. 19 5,000.00 3,000.00 3.000.00 500.00 5,930.00 5,000.00 3,000.00 996.00 6,457.71 io,000,00 2,998.40 2,998.LXI 5,000.IXI 7,460.1￿) 3,CN)O.00 17,385.72 3,000.00 17,285.72 4,000.00 11,500.tKI 5,000.00 8.640.30 12,77S.00 6,000.00 9,956.10 7,589.00 15,252.22 47,435.40 15,000.00 6,700. 3,CrfKI.fy) 1,499. 8,215.69 -975.71 958.80 9,000.00 4,960.00 3,000.00 15,300. 8,￿0.(￿1 5,000.IXJ 9.985.71 9,000.(NJ 4,997.60 4,285.72 300.00 1,800.00 APPENDIX ONE: GRANTS PAYAPLE (CONTINUED) TYPESTART UNITED AFRICAN ASSOCIATION vxcroRIA CENTRE VINEYARD COMMUNITY CHURCH VOLUNTARY IMPACT NORTHAMPTONSHIRE VOLuwfEER ACTION OUNDLE WATFORD SHELTERED WORKSHOP LTD WEST HADDON BOWLS CLU8 WEST HADDON JUNIOR FOOTBALL CLUB WEST HADDON PHOTO CLUB WEST HADtK)N VILLAGE HALL WESTON FAVELL FOODBANK VICQOFORD HALSE COMMUNITY CRAFTING YARDLEY ARTS YELvERT0￿ PARISH COUNCIL YELVERTOFf PRE SCHOOL YELVERTOFf VILLAGE HALL TOTAL 4,116.60 29.285.72 3,000.￿j 4,285.71 12,172.53 3.000.00 500.00 424.54 2,588.71 1,000.00 5,000.00 8.910.72 2,980.(I) 6,105.10 16,249.03 2,500.110 15,588.00 1,697,370.80 253 Grants and Bur8arfes to Indfvlduals FUND NUMBER TOTAL VALUE OF GRANTS OF GRANTS 35 3525 16474.97 soo 1208160 1149.4 ioooo 36000 1.275A09.37 COLES AND RICE PENSION FUND HENRY MARTIN Bvf