2022-03-31-accounts - The Spark Foundation

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Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year 1 April 2021 To 31 March 2022

From

Section A Reference and administration details

Charity name The Spark Foundation

Other names charity is known by

Registered charity number (if any) 1097058

Charity's principal address Hugh House

Hugh Place Faversham, Kent Postcode ME137AD

Names of the charity trustees who manage the charity

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Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
Danny Chair
1
Chesterman
2 Irene Hall Treasurer
3 Sheila Patel
4 Tracey Sorrell
5 Kirsty Ginn
6 James Whitton
7 Cathy Walker
8
9
10
11
12
13
14
15
16
17
18
19
20
Names of the trustees for the charity, if any, (for example, any custodian
trustees)
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Name Dates acted if not for whole year

March 2012

TAR

Names and addresses of advisers (Optional information) Type of adviser Name Address	Names and addresses of advisers (Optional information) Type of adviser Name Address	Names and addresses of advisers (Optional information) Type of adviser Name Address
Independent Examiner	Mrs Jennifer Sherwood FCA	1 The Heath, Whitstable, CT5 3HJ
Bankers	Charities Aid Foundation	CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent ME19 4TA


Name of chief executive or names of senior staf members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Trust Deed Type of governing document

(eg. trust deed, constitution)

Charitable Trust How the charity is constituted

(eg. trust, association, company)
Interviewed by Chair and appointed by Board decision
Trustee selection methods
(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;

Potential Trustees are invited to attend a meeting of the existing Trustees before a decision is made on appointment so that both parties can be satisfied that the appointment is appropriate.

We have a document defining the responsibilities of Trustees which is explained to all new Trustees.

The Board reviews annually risks and actions to mitigate them.

relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

March 2012

TAR

The Objects of the Trust are:
(a) to relieve young people who are homeless or in financial need
(b) to relieve young people who are suffering from mental or physical sickness;
(c) to advance the education of young people;

Summary of the objects of the charity set out in its governing document

(d) to promote the training of young people who through their social and economic circumstances are unable to obtain employment;
(e) to provide facilities for the leisure time occupation of young people in order to improve their conditions of life and develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society

by providing them with grants or loans in cash or in kind or in such other ways as the trustees in their absolute discretion think fit

The Foundation made 167 individual grants (amounting to £54,584 in total in 2021/22) compared to 161 in the previous year. The successful applicants came via 70 different agencies in all parts of England, 22 of which had never previously applied to the Foundation. The number of grants applied for again went up steeply from 240 in 2020 to 303 in 2021. As in the previous year, our income was not sufficient to meet all applications even where they met our tight criteria. As a result, to keep within our means, we had to turn down a much greater number of applications (136 compared to 80 in 2020). The average grant remained steady at £331 compared with £334 (in 2020). Summary of the main Applications were received for a variety of needs. For example, activities undertaken for for young people who have left care, the Foundation provided the public benefit in key goods such as washing machines, carpets and beds. Grants relation to these objects were also given for a wide variety of other needs, for example, (include within this laptops, driving lessons, training courses. Grants were mainly section the statutory given to young people in the age ranges 16 – 20 and 21 – 25. declaration that trustees have had regard to the The Foundation’s application form asks for the applicant’s age, guidance issued by the gender, nationality and ethnicity and whether or not the Charity Commission on applicant has a disability. This information does not have to be public benefit) supplied for an application to be considered. Once a year the Foundation reviews this information both for applications it has approved and ones it has rejected. It uses this information, and data on the type of grants it has approved, to consider whether any changes should be made to its Grants Policy, website and application forms. The Foundation treats all applicants equally regardless of nationality, religion or ethnic background. The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit. Benefits are in the form of grants and nearly 100% of the Foundation’s annual expenditure relates to grant payments.

Additional details of objectives and activities (Optional information)

March 2012

TAR

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

March 2012

TAR

Section D Achievements and performance

Summary of the main As in the previous year, the main achievement was in giving out achievements of the more grants than ever before, whilst continuing to manage the charity during the year rising number of applications with a minimal administrative cost (less than 5% of income). This is all achieved through the voluntary services of a small Board of Trustees and a part time administrator. We continued the practice of determining grants entirely virtually. This was needed to handle the increased number of applications and adopt safe methods of work during the pandemic.

During the last five years the number of applications received has increased each year, and this trend has continued again in 2021/22. It is clear that many vulnerable care leavers lost employment and sources of income during the pandemic, and this had knock on effects in being unable to sustain their homes and relationships. In order to keep within Spark’s budget, we applied rigorous priorities within our grant policy and made sure any changes are reflected in the website.

Section E Financial review

Section E	Financial review
Brief statement of the charity’s policy on reserves Details of any funds materially in defcit	The policy of the Trust is to maintain enough money in our accounts to cover expenses and a bufer of £5000 towards grants in the next quarter.
	None

March 2012

TAR

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Since 2014 the main donor to the Foundation has been the Tunstall Jubilee Foundation (TJF). The Foundation would like to record its thanks to TJF for this funding. It was agreed with TJF that the Foundation would submit an application for funding in January each year. This enables the Foundation to plan its grant giving for the next financial year.

We were delighted to receive a second generous donation from the Fostering Co-operative to supplement our annual grant from the Tunstall Jubilee Foundation. This enabled up to increase the number of grants given, even though demand continues to grow. It is clear that Covid19 and economic uncertainty continues to impact on the most vulnerable. Spark is therefore continuing to explore other complementary funding sources.

The Spark Foundation does not rent premises but it does pay a small amount for administration support. The Foundation has again dealt with a sharp rise in the number of applications for grants, and we have responded to this by making efficiencies in the way we process applications.

As in previous years, almost all The Foundation’s expenditure is in the form of grants.

The Foundation has a grant making policy and this is reviewed annually

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

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Signature(s)
Chesterman
Full name(s) Daniel
Position (eg Secretary, Chair
Chair, etc)
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March 2012

TAR

Date 2 Dec 2022 TAR March 2012

The Spark Foundation 1097058 Receipts and payments accounts CC16a For the period 01/04/2021 31/03/2022 To from

Section A Receipts and payments

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Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest
to the nearest £ to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Donations and gifts 8,000 - - 8,000 10,608
Grants 26,940 1,500 - 28,440 50,000
Investment income 3 - - 3 10
Grant reimbursed - - - - 300
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
34,943 1,500 - 36,443 60,918
AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 34,943 1,500 - 36,443 60,918
A3 Payments
Administration fees 1,050 1,050 - 2,100 2,135
Bank charges 48 41 - 89 70
Printing, postage and stationary costs 57 84 - 141 418
Independent Examination fee 122 178 - 300 300
Website abd data protection costs 35 188 - 223 -
- - - -
Grants payable 54,584 - - 54,584 59,285
- - - - -
- - - - -
Sub total [ 55,896 ] 1,541 - 57,437 62,208
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments 55,896 1,541 - 57,437 62,208
Net of receipts/(payments) - 20,953 - 41 - - 20,994 - 1,290
A5 Transfers between funds - 41 41 - - -
A6 Cash funds last year end 35,250 - - 35,250 36,540
Cash funds this year end 14,256 - - 14,256 35,250
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CCXX R1 accounts (SS)

15/09/2022

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds	Details Details *Total cash funds* (agree balances with receipts and payments account(s)) CAF Cash account CAF Gold account Details Details Details Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ 5,006 - 9,250 - - - 14,256 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name	Endowment funds to nearest £ - - -
			-
			OK
			Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval

CCXX R2 accounts (SS)

15/09/2022

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the Charity Name trustees/ members The Spark Foundation of 31 March 2022 Charity 1097058 On accounts for the no (if year ended any) Set out on pages (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/ 03 / 2022 .

Responsibilities and As the charity trustees of the Trust, you are responsible for the basis of report preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material examiner's matters have come to my attention (other than that disclosed statement below *) in connection with the examination which gives me cause to believe that in, any material respect:  accounting records were not kept in accordance with section 130 of the Act or  the accounts do not accord with the accounting records

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

Please delete the words in the brackets if they do not apply.

Signed: Date: 17 October 2022 Name: Mrs Jennifer Sherwood FCA Relevant ICAEW – Chartered Accountant professional

IER

October 2018

qualification(s) or body (if any):

Address: 1 The Heath, Tankerton Whitstable, Kent CT5 3HJ

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

IER

October 2018

Give here brief details of any items that the examiner wishes to disclose .

Nothing to record. Financial pages prepared and Trustees Report reviewed.

IER

October 2018