Trustees' Annual Report for the period
Period start date Period end date Day Month Year Day Month Year From 1 April 2023 To 31 March 2024
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
| Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|
| DannyChesterman | Chair | ||
| Irene Hall | Retired as Trustee 31 December 2023 |
||
| Sheila Patel | |||
| TraceySorrell | |||
| KirstyGinn | |||
| James Whitton | Treasurer | ||
| CathyWalker | |||
| Adam Brankin | 1 March 2024 onwards | Board of Trustees | |
| ~~—~~ |
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Names and addresses of advisers (Optional information)
| Type of adviser | Name Address |
Name Address |
|---|---|---|
| Independent Examiner | Mrs Jennifer Sherwood FCA |
29 Cherry Orchard, Chestfield, Whitstable, Kent CT5 3NH |
| Bankers | Charities Aid Foundation |
CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent ME19 4TA |
Name of chief executive or names of senior staff 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)
Potential Trustees are invited to attend a meeting of the existing Trustees You may choose to include before a decision is made on appointment so that both parties can be additional information, where satisfied that the appointment is appropriate. relevant, about:
-
policies and procedures We are preparing a document defining the responsibilities of Trustees for adopted for the induction and use in inducting all new Trustees. training of trustees;
-
The Board reviews annually risks and actions to mitigate them.
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the charity’s organisational structure and any wider network with which the charity works;
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relationship with any related parties;
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trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
The Spark Foundation is a charity, formed in 2003, which gives small grants (up to £700) to young people up to the age of 25 who are, or have been, in care , and live in England or Wales. Our aim is to enable them to have the same chances as everyone else.
The Objects of the Trust are:
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(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; (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 175 individual grants (amounting to £70,648 in total in 2023) compared to 136 (amounting to £52,786) in the previous year 2022. The successful applicants came from all parts of England and Wales. The number of applications received rose sharply from 250 in 2022 to 338 in 2023. As in the previous year, our income was not sufficient to meet all applications even where they met our tight criteria. To keep within our means, we had to turn down 161 (compared to 105 in 2022). The average grant rose to £404, up from £388 (in 2022). Applications were received for a variety of needs. For example, for young people who have left care, the Foundation provided key goods such as Summary of the main washing machines, carpets and beds. Grants were also given for a wide activities undertaken for the variety of other needs, for example, laptops, driving lessons, training public benefit in relation to courses. Grants were mainly given to young people in the age ranges 16 these objects (include within – 20 and 21 – 25. this section the statutory declaration that trustees have The Foundation’s application form asks for the applicant’s age, gender, had regard to the guidance nationality and ethnicity and whether or not the applicant has a disability. issued by the Charity This information does not have to be supplied for an application to be Commission on public considered. Twice a year the Foundation reviews this information both benefit) 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.
The Foundation made 175 individual grants (amounting to £70,648 in total in 2023) compared to 136 (amounting to £52,786) in the previous year 2022. The successful applicants came from all parts of England and Wales. The number of applications received rose sharply from 250 in 2022 to 338 in 2023. As in the previous year, our income was not sufficient to meet all applications even where they met our tight criteria. To keep within our means, we had to turn down 161 (compared to 105 in 2022). The average grant rose to £404, up from £388 (in 2022).
Additional details of objectives and activities (Optional information)
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You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
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contribution made by volunteers.
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Section D Achievements and performance
Summary of the main achievements of the charity during the year
As usual, the main achievement was in giving out over 95% of our income in grants, whilst continuing to manage a high 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 originally introduced during the pandemic to handle the high number of applications and adopt safe methods of work, but we have found that it works efficiently and have therefore continued the practice.
2023 saw a sharp rise in the number of applications, to a new record. In order to keep within Spark’s budget, we reviewed our grants policy and tightened criteria further in the areas of debt relief and driving lessons in order to stay within budget.
Section E Financial review
The policy of the Trust is to maintain enough money in our accounts to Brief statement of the cover expenses and a buffer of £2000 towards grants in the next quarter. charity’s policy on reserves
Details of any funds materially in deficit
None
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Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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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 also delighted to receive another generous donation from the Fostering Co-operative to supplement our annual grant from the Tunstall Jubilee Foundation. This enabled us to disperse a similar amount in grants as in recent years. It is clear that economic uncertainty and a rising cost of living 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. 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
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| Daniel | Chesterman | |
| Chair | ||
| 6 Dec 2024 |
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The Spark Foundatihno
1097058 CC16a 31-Mar-24
Receipts and payments accounts For the period 01-Apr-23 To from ee
Section A Receipts and payments
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|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|5,051|-|-|5,051|47|
|Grants|55,000|-|-|55,000|65,000|
|Investment income|426|-|-|426|195|
|-|-|-|-|-|
|-|-|-|-|-|
|-|-|-|-|-|
|-|-|-|-|-|
|-|-|-|-|-|
|Sub total|(Gross income for|
|60,477|-|-|60,477|65,242|
|AR)|
|A2 Asset and investment sales,|
|(see table).|
|-|-|-|-|
|-|-|-|-|-|
|Sub total|-|-|-|-|-|
|Total receipts|60,477|-|-|60,477|65,242|
|————|——|
|A3 Payments|
|Administration fees|2,380|-|-|2,380|2,100|
|Bank charges|60|-|-|60|72|
|Printing, postage and stationary costs|195|-|-|195|197|
|Independent Examination Fees|315|-|-|315|315|
|Website and data protection costs|232|-|-|232|35|
|-|-|-|-|-|
|Grants Payable|72,928|-|-|72,928|59,880|
|-|-|-|-|-|
|-|-|-|-|-|
|Sub total|[ 76,110 ]|-|-|76,110|62,599|
|A4 Asset and investment|
|purchases, (see table)|
|-|-|-|-|
|-|-|-|-|
|Sub total|[ - ]|-|-|-|-|
|————|Total payments|76,110|-|-|——|76,110|—|62,599|
|Net of receipts/(payments)|- 15,633|-|- - 15,633|2,643|
|A5 Transfers between funds|-|- -|-|-|
|A6 Cash funds last year end|16,899|- -|16,899|14,256|
|Cash funds this year end|===|1,266|-|===>|- 1,266|16,899|
----- End of picture text -----
CCXX R1 accounts (SS)
05/12/2024
1
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 £ 670 - 596 - - - 1,266 - 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)
05/12/2024
2
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts onA Inknnd•nt Examlnef s R•port Report to the trusteesl members of On accounts for the year ended 5mRK FoJNJ£Y4Tlj 31 MARctr4 102LI Charity no (If any) 1091058 Set out on pagts I report lo the tnjstees on my exarnination of the accounts of the above charity ("the TnJst"} for the year ended 31 03 1ry14. Responsibilitiès and As the charity trustees of the Tfust. you are responsible for the preparation basls of report of Ihe accounts in accordance with Ihe requiremenls of the Charities Act 2011 ('Ihe Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed the applicable Directsons given by the Charity Commission under section 145(5){b) of the Act. I have completed my examination. I confirm that no material rnatters have come to my attention { in connection with the examination which gives me cause to believe that in, any rnaterial respect.. accounting records were nol kept in accordance with section 130 of the Act or the accounts do not accord wilh the accounting records Independent examlner's statement I have no concems 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 ¢he brackets if they do not apply. Signed: Date: MQS JETrJtr4lF£R SHERWr) fcA CHAftfEREO ACCt)VTr4T Name: Relevant professional qualificatlon{s) or body (If any): Address.. Iq OF2CMAQO CHEsfFI cuj WHITsrA8 IER October 2018