Charfty Registrallon No. 1102266
Company Raglstratlon No. 04809926 (England and Wales)
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Professor T J Thompson OBE
Mr N P Wentworth-stanley
MrDKShaw
Mr M J Yates
Ms K Leather
Mr J Chenevix-Trench
Mr T Venner
Mr O Carpenter
Mr M Jackson OBE
Charity number {England and Wales)
1102266
Company number
04809926
Reglstered office
Kingsway House
41F41 Foregate Street
Worcester
Worc&stershire
WR1 1EE
Indep8ndent examlner
Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvem
Worcestershire
WR14 2JS
Bankers
National Westminler Bank PIC
24 High Street
Kidderminster
Worcestershire
DY10 2DL

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
CONTENTS
Page
Chalrman's Statement
Trustees, report
Statement of trustees, responsibililies
Independent examinels report
statement of financial activitles
Balance sheet
statement of cash flows
Not8S to the accounts
10-22

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENOED 30 SEPTEMBER 2024
have great pleasu￿ In prosenting our Annual Report and Flnanclal Slatem6nla for th8 yoar endlng 30
Septémbèr 2024.
11 has boen anothèr bu8y and $ucce$6ful ye0r for Ihe Foundallon, During the flnanelal yèar, we dlslrlbut¢d £236,473
10 23 communlty organl$allons, arffoss a great varlety of dlfferent ¢411888,
It has never been our slrate9y lo allgn our8elveB wllh a partlwlar no6d or challen9e., We havo Iilstead sought lo
fpcv.$ gn 111¢ 8mellor charjl165 and charltabla organisatlons In the tounty, Iho$e wlthoul $19ftificant fund-ral$lng
abllltles, who 80 often do such fantagtlc and Important work, bul find It really hg,rd lo the mo!)ey whl¢h 1$ 80
t81 for th'elr gOilvlllR$. Wé y80 11 as our lob to know as much as po$8iblp about Ihe$-e charftable enlltles and
Indivlduals, so that we can lft turn help thos& who wanl to gfve, arvd make sure th81 they con dlre¢t thelr charllable
dona(iona in the most eff¢¢livg way.
Thls year we wetq partlculatEy pleased tt) work v41th worc8stershlre County Coun¢ll to croate the SlrenOlh8nlng
Wor¢stershlfe Fund,. we worked in partner,8hip with the touncil lo support dlsadyanlagod local ¢ommunlllos
conllnulny to gXPèrlenGe th6 ongolng 6ffé¢ls of thé ¢o$l•f41vlnk. Ovér the course of th¢ $ummer, we raised £18,009
lo cothbinè Wtth £IOO,OOQ from th$ Councll, whlch w88 dlslrlbul8d aft¢r close of the ttnancial year10 8 ljroad
range of ¢harltles dolng som6 Of Ihe mo6t vlfal at)d Impactfvl work In the Gouiity, to.g&ther wllh addFttonai fundlng
ra¢Nfvod_ and ral8¢d post the reporlliig dale of £31,000 snd UQ,000 re$pocllvely.
IN NoVp.mbei 2023,. we get up our Filends 9f the WCF ffiembersllp Scheme, IG ct)Inclde with our 2Iykn annlversary
¢&labratlons. Th¢ scheme Is targeted al our gEnero.us doThots - Indlvlduls, liu$t8 and cotporales. and th& fund$
ralséd wlll be split bèlwèen Our néw Communlty Fund and UDi¢slrleted (und'lng.
As always, we wérp dellghted to worfÉ In g1!VP¢rt of thé Hlgh 8h¢rlff Fund, wl(h lurtds ral$.ed fmm a vBrlety Df evant
and. ithilallves. A lolal of £49,200 was dlslrfbuted In small 9ran18 to eleven cominunlty groups 6eleot6d Liy Ihe Hlgh
In Ma¥ 2015, Davld Shaw Èlepped down as Chalt of the Board of Ihe WCF, on¢ I wa$ appolnt¢d to ts-ka hfs plaea. I
want (o tsKe Ihl3 opportlmlty to thank Davld for h18 funlastlc contflbthlon os aur Chalr., long and disllngul8h¢d
Tacord of pub.iIG Ggrylcq provkled hlm wllh Invaluabl&, e%perf8n¢e lo guldp the WGF, in¢ludlng Ibrough the
chollénglng ltheh Of ¢ovid, and i am most or8t6fUI Ihal ho hdsagr8ed lo. conllnue ta 8oNe Os A tru$lee.
ay i atso tak8 Ihls opportunlty to thank our ggDeious donori, wlthoui whom we would not bo ab18 to provldo the
rt aero8$ tho County whl¢h Is 80 badly needed, ourAmba$$adors. for contlnuln9 to pronK)le Ih.e Follndal(on'
our.
rusteeswhp.giv.o so gen￿OUSlY of tbelr tlme and wl$dom' ahd not1È4$L our smaji ex6cutive team, Who woik so
h#rd to hglp the WCF. make the. maxlmum Impact across th8 County. Wo look forward l() worklng wllh you all in tho
yearlo ¢om6.
r J Chenevlx-Trench
Chalrmen
Oate.. 8 May 2025

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present thelr annual report and finan¢lal statements for the year ended 30 September 2024.
The flnan¢lal statements have been prepared In accordance wlth the accounting policies set out in note 1 to the
flnancial slatements and comply with the Foundation's governlng document, the Companies Act 2006 and
"Accounting and Reporting by Charlties.. Statement of Recomm6nded Practlce applicable to charities preparing
their accounts In accordance with the Financlal Reporting Standard appllcable in the UK and Republic of Ireland
(FRS 102)" (effective 1 January 2019).
Oble¢tlve$ and actlvllles
The Foundatlon's objects are to channel @ndowments and other funds to local voluntary and communlty groups
within thé County of Worcestershire. We are an accredited m8mber of UK Community Foundations, a natlonal
association which promotes and supports 47 Community foundations across th8 UK.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what aCti￿tIeS the
Foundatlon should undertake.
A¢hlevements and perfomian¢8
The movements on the reserves managed by the Foundatlon are descrfbed in the notes accompanylng the
financial statement8.
During the year, wOr￿stershIre Community Foundation (WCF) achleved the following significant Impacts to the
benefit of our communities county-wide Ihrough the delivery of funding as follows:
We dlstrfbuted £236,473 to 35 Community organisations
We worked in partnership to deliver funding from tha following endowmenl-based and flow-through
funds..
Flow-through Funds
The Strengthening Worcestershire Fund A new flow-through match fund set up in partnership with
Worcestershire County Councll lo dlstrlbute excess funds from a Govt. community grant scheme. WCF recelved
a total of £100,000 from WCC matched by funding of £16,000 raised from other charitable funders, corporates
and indlvidual donors. This was distributed aft8r th8 dose of the financial year together wlth additional funding
r8ceiv8d and raised post the reporting date of £31,000 and £40,000 r8spectively.
NHS Fund - A total of £163,000 to support mental heatthlwellbeing was distributad to a rang8 of healthcare
providers across Worcestershire, including Sandycroft, Worcs. Associatlon of Carers, Young Solutions.
Endowment Funds
Tha Hlgh Sherlff Fund IHS Fund) - Th8 fund generated Income through fundraising events and initiatiV8S to
support th8 work of community groups selected by the HS; £43,200 was distributed in small grants to eleven
local charities specialising in mental health, young people's causes and homelessness, including Worcester
Warriors Community Foundation and Wyre Forest Nightstop.
Tom Jon88 Fund - In memoriam fund to commemorate a young student who traglcally lost his lrfe in 2018.
This year we distributed £4,260 for projeGts relating to sport and young people, including a Festival of Sport
and football kit.

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
WCF Communlty Fund This fund is comprised of a number of small residual WCF funds whlch wer8
combined in 202310 cr8ate a new, more purposeful funding vehicle wllh a general remil, whlch is Intend8d to
support where oth6r funds are unable to. It is recommended to distribute no more than 50/0 of its investment
revenue value each year. In 23124 it gave out a grant of £5k to support a Worcester Choral Society concert
Mass In Blue.
Dr Carl Ellson Clinical Innovatlon Fund - An in memoriam fund commemorating Dr Carl Ellson, a much
respected GP from the ￿unty. The fund was set up with the express aim of raislng a certain level of income
whl¢h will be allocated In an open bid process to a single healthcare organisalion delivering the most
Innovative scheme to deploy the funding sustainably.
Friends of WCF - Our new WCF membershlp scheme was launched in November 2023 to coincide with our
20th anniversary celebrations. The scheme Is targeted al individuals, other trusts and corporates, with the
In¢ome raised divided between the Community Fund and unrestricted fundlng.
W8 ar8 now actively worklng frorn a new 2024 -27 Development Strategy, wlth lh8 aim of becoming a more
resilient, inclusive and 8ffe¢tiV6 grant mak8r which can sustainably meet Worcestershire's communlty needs.
We are proactlvely developing existing and new funding relatlonships with donors and stralegi¢ partners to
increase and Improve our fundraising and grant-making Impacts. This includes working wlth local agencAes
includlng Councils, the Police and the NHS, as well as corporate and individual donors and professional
advisors. We have begun the process of developing a new legacy programme to support our endowment
funding. at the same time, we must be cognisant of maintaining and developing strands of flow-through
funding for immediate impacts to current challenges across the county.
Flnanclal review
The majority of the Foundation's income is obtained from donations, grant administration, and Gov8rnment (Gift
Aid and Grassroots).
Banking arrangements are placed with Natwest Bank plc.
The Foundatlon's endowment funds 8re managed by St James's Pla￿ and CCLA.
InGoming resources totalled £227,191 (2023 £511,177) with expenditure of £341,121 (2023 £498,367). The
Investment gains were £153,762 (2023 - gains £28,966) resulting in an increase in total funds of £39,832 (2023 -
increas8 of £43,776) and total reserves of £1,855,835 - (2023 £1,816.003) of which general reserves total
£197,972 (2023 - £218,347).
It is the policy of the Foundation that unrestrfcted funds whiGh have not been designated for a specific use should
be maintained at a level equlvalent to between six to twelve month's expenditure. The trustees consider that
reserves at this level will ensure that, In the event of a significant drop in fundlng, Ihey wlll be abl8 to continue the
Foundation's current actlvltles whlle conslderation is given to ways in which additional funds may be raised. Thls
level of r8seNes has been maintained throughout the year.
Th8 trustees have assessed the major rlsks to which the Foundation 18 exposed, and are satisfied that systems
are in place to mitigate exposure to the major risks.
Structur0¥ governance and management
The Foundation is a company Ilmited by guarantea and is governed by Its Memorandum and Articles of
Association dated 3 June 2003.
The Foundation acts as a conduit to local philanthropy, linking prlvale and public funders with small communlty
projects across Wor¢8St8rshire. We are an accredited member of UK Community Foundations, a national
association which promotes and supports 47 community foundatlons across the UK.

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
TRUS.TEES' RÉPQRT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR fHE YEAR ENDED 30 SEPTEMBER 2024
The Iru8te8s. who ar¢ 81s0 lh8 dlreclors for Iho purp089 Of aompany law, and who servgd durlng the year and up
lo thé daté of 81gnatUfe otihe Inancl81 slatenEnts wgro..
PrLifosa¢tT J Thompson OBE
Mr N P ￿eri￿Orth-S[anIeY
MrDKShaw
Mrm! Yoles
M& If Leathar
Mt N Lloyd
Mr J Chen8vlx-TreN¢h
N4r T Vell¢Je¢
MF Q Carp8rn16r
Mr M Jacksotl 0g.E
(Restgned 31 October 2024)
Nooeof tha. trustees has beneficlal Interasr In thè corbpgny. All ot the liustoes are momb&rs of tF)e ¢ompany
and guarantge to contrlbu10 £1 In the ev&nt of a wlndlng up.
The Board énoaue5 In an ongoino and praumalioscan of pol8nllall¥ gultablo Trustees 8eeklng (a) kttowledge of
the &e¢tor,' and {tJ> c¢ntart$ whldl. h?ve the polenllal to yield #lgnlfi'¢8nt donallon&.14aw 1ru8ie.es under90 an
Indu¢tioo pro¢e$s to brlef them on tha organlsatlon'And Ibelr 8fatth'ow obllgatbns ynder ¢harlly &.Gomp_anylaw.
fralnlng lor aoard m¢mbor¥ l¥ und¢rtak¢n on an gd flo¢ ty0819 av4 dpproprl81¢ In ordarto ensure that the B¢>ard
i&pre$enl8 relèvant skill set8 for tha erfd¢tlvo funrltonlna ol th9 FouiidalioTr.
Tr8lnln9 for Board meiDhèrs la delfvef6d through speciflc Ilems Inctude(f on koard agendas and speelai 8Ossfons
l&¢oncenlrale on Important loplc?. All tralnlno soeks to develop both Ir6dlvidvHls and fhe organlsallon as a wholé.
Th& ngtuiè of Ih&roles of the 2 em￿O¥e08 ere ofF.o¢Eor and Grani$ Offl¢er. The aver*)e numberof employ
durtntr tho yearwa3 (FTEI, both Posts ale pthllmé. FinaTh¢lng. and a¢¢ounllng SUPPQrtls conliaoled on a
f(oèlahce ba$l$.
Th1$ report has bdprF prepared In a￿ordanC& wnh the 8ppckl prov181ons ￿latIng to 8ma!I CQF))panles wllhln Part
15 oTlhe Compan10$A¢t 2006,
Thetsusl8e& reportW88 8pprtsved by the Board. ofTru8lees.
r J ¢h8nevlx-Trèn¢h
Dlre¢for
D8led: 8 May 2¢525

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees, who ar8 also the dir8Ctors of Worcest8rshiie Community Foundallon Limited for the purpose of
company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicabl8 law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the Irustee5 to prepare financial statements for each financial year which give a true and fair
vlew of the state of affairs of the Foundation and of the incomlng resources and application of resources, including
Ihe income and expendlture, of the charilable company for that year.
In preparing Ihese financial statements, the trustees are requlred to..
sel8Ct suitable accountlng pollcles and then apply Ihem consistenlly;
obseNe the methods and principles in the Charitles SORP;
make judgements and estimates that ara reasonable and prudent,.
state whether appllcable UK A￿OUntIng Standards have b8en followed, subject to any material d8partures
disdosed and explalned in the financial statements. and
prepare the financial statements on the going concern basis unless it Is Inappropriate to pr8sume that the
Foundation will continue in operation.
The trustees are responsible for keeping adeqLFat8 accounting records that disclose wlth reasonable accuracy at
any time the Ifnancial position of the Foundation and enable Ihem to ensure that the financial stslemenls comply
with the Compani8s Act 2006. They are also responsible for safeguarding the assets of the Foundation and hence
for taking réasonable steps for the prevention and detection of fraud and other irregularities.

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
I report to the trustees on my examination of th8 financial statements of Worcestershlre Community Foundation
Limited (the Foundalion) for the year ended 30 September 2024.
Responsibllltios and bagis of report
As the trustees of the Foundation (and also its dlrectors for the purposes of company law), you are responsible for
the preparation of the finandal statements In accordance with the requirements of the Companles Act 2006.
Having satlsfied myself that the finanoial statements of the Foundatlon are not required to be audlted under Part 16
of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of
the Foundation's financial slatements carried out under section 145 of the Chariti@s Act 2011. In carrying oul my
examination I have followed the Direcllons given by the Charity Commission under section 145{5)(b} of the Charities
Act2011.
Independent examine¢$ Statement
I have compleled my examlnatlon. I confirm that no matters have come to my attentlon In ¢onne¢tlon with th8
examination giving me causé to believe that in any material respect:
accounting records wer8 not kept in respect of the Foundation as required by section 386 of the Companies
Act 2006.
the financial statements do not accord with those records,. or
the flnancial statements do not comply with the accounting requirements of section 396 of the Companies Act
2006 other than any requirement that the financlal statements give a true and fair view, which is not a matter
¢onsldered as part of an independent examlnatlon., or
the flnan¢ial statements have not been prepared In accordan￿ wlth the methods and prln¢lples of the
Statement of Re¢ommend8d Practice for accounting and reporting by charlties applicable to charities
preparing their financial statements in accordance with the Finandal Raporting Standard applicable in the UK
and Republic of Ireland (FRS 102).
I have no concerns and have come across no olher matters in connection with the examination to which attention
should be drawn in this
ort in order to enable a proper understanding of the financial statements to be reached.
Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worceslershlre
WR14 2JS
8 May 2025

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Unrestrlcted Restrlcted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notss
Income from:
Donalions and legacies
Charllable acllvities
Investments
7,780
24,398
3.515
156,951
164,731
24,398
38,062
3,500
471,571
475,071
34,547
1,280
34,846
36,106
Total income
35,693
191,498
227,191
4,780
508,417
511,177
enditure on:
Charltable activtties
95,484
245.637
341,121
46,766
449,601
496,387
Net gains on
investhients
10
(190)
153,952
153,762
(408)
29,374
28,966
Not
(outgoing)Iln¢omlng
resources before
transfers
Gross transfers between
funds
(59,9811
99,813
39,832
(42,414)
86,190
43,776
11
39,606
(39,606)
100,322
(100,322)
Net movement In funds
(20,375)
60,207
39,832
57,908
(14,132)
43,776
Fund balances at 1
October
218.347 1.597.658 1,816,003
160,439
1,611,788 1,772,227
Fund balance8 at 30
September
197,972 1,657,863 1,855,835
218,347
1,597,656 1,816,003
The stalement of financial activities includ88 all gains and losses recognised in the year.
The slatement of financial activities includes all gains and losses r8cognised in the year. All income and expend6ture
derlve from continuing activiti6S.
The statement of flnanGial actlvlties also complies with the r8quirem8nts for an income and expenditure account
under the Companles Act 2006.

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
BALANCE SHEET
AS AT30 SEPTEMBER 2024
2024
2023
Notes
Flxed assets
Inv&slments
Current assèts
Deblors
Cash at bank and in hand
12
1,488,004
1,334,240
13
1,891
369,861
144,702
344,505
371,752
480,207
Credltors; amount8 falllng due wlthln
ona year
14
{3,9211
(7,444}
Net current assets
367,831
481,763
Tolal a8¥8ts les$ Current IIAbllltles
1,855,835
1,816,003
Income fund$
Restricted funds
Unrostrlcled funds - general
16
1,657,883
197,972
1,597,656
218,347
1,855,835
1,816,003
Tha company 1$ entllled lo Ihe exemptlon from the audlt requlrement corbtalnad In secllon 477 of the Companles Act
2006, for the year ended 30 Seplember 2024.
The members have not required the company to obtaln an audit of Its flnanclal 8tatom8nls for the y68r questlon
in accordance wllh section 476.
The trustfjes acknowledge Ihoir responslbililles for ensurfng that the charlty kaeps accountlng records whlch Comply
with secflon 386 of the Act and for prepartng flnanclal 8Éalement8 whlch glve a true 4nd fair vl8w of tho slate of
affairs ol tho c(yMpany as at the end of the financial year and of its incoming iesources and appllcalion of
resources, ill¢luding it8 Income and expendllure, for thg flnanclal year In acwrdanc& wlth Ihe requlrements of
sections 394 an(Tr 395 and whi¢h Othe￿1$e comply wlth the requiremonts of the ¢ompanle8 Act 2006 relallng to
Plnanclal 8talemènts, so far &9 appllcable to the ¢ompany.
Th8sa flnandal statements have been prepared In a￿ordanCe w5th the provlsions appllcable to companies subject
lo th& small ¢ompan16s reglm8.
The accounts wéro approved by the Trustees on 8 May 2025
Mr J Chenevlx-Tren¢h
Truslofj
CoTnpany Reuigtratlon NLF. 04809926

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2024
2023
Notes
Cash flows from operatlng actlvltles
Cash absorbed by operations
21
(12,706)
(165,310)
Investlng acllvltles
Interest received
38,062
36,106
Net cash generated from investing
activities
38,062
36,106
Net cash used in financing activities
Net Increasel{d8creaso) In cash and cash
equlvalonts
25,356
{129,204}
Cash and cash equivalents at beginning of year
344,505
473,709
Cash and cash equivalents at end of year
369,861
344,505

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
A¢¢ounting poli¢les
Company Infomiatlon
Worc@stershir6 Communlty Foundation Limited is a private company limited by guarantee incorporated In
England and Wales. The registered office is Klngsway House, 40-41 Foregate Street, Worces18r,
Worcestershire, WR11EE.
1.1 Accounting Convention
The financlal statements hav8 been pr6pared in accordanc8 with the Foundalion's [gov8rning document], the
Companies A¢t 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republlc of
Ireland" ("FRS 102°) and the Charities SORP "Accounting and Reporting by Charities.. Slalement of
Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnancial
Reporting Standard appllcable In the UK and Republic of Ireland {FRS 102}" (effe¢tlve 1 January 2019). The
Foundation Is a Publ1¢ Benefit Entty as defined by FRS 102,
The financlal statements are pr@pared in sterling, which is the functional curr8ncy of the Foundatlon. Monetary
amounts in these financial statements are rounded to the nearest £.
Th8 accounts have been prepared on the historical cost convention, modifled to include certaln Ilnanclal
instruments at fair value. The principal accounting policles adopted are set out below.
1.2 Going concern
At the time of approving the flnanclal statements, the trustees have a reasonable expectatlon that the
Foundation has adequate resources to continu8 in operational 6XiSt@nce for the for8seeabl8 future. Thus the
trustees conllnue to adopt the golng concern basis of accounting in preparing the financial statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of thelr charltable
objectives.
Restricted funds are subject to speciflc condltions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment fvnds are subject to speclfic conditions by donors that the capital must be maintained by the
Foundation.
1A Incomlng resourc88
Incom8 is recognised when the Foundation is legally entitled to it after any performance condllions have be8n
met, the amounts can be measured rellably, and it is probable that income wlll be re¢elved.
Cash donatlons are re¢ognis8d on r8céipt. Oth8r donations are recognised onc8 the Foundation has been
notified of the donatlon, un16ss p&rformance conditions reqL5ire deferral of the amount. Income tax recoverable
in relation to donations r8c6ived under Gift Aid or deeds of covenant is recognised at the time of the donatlon.
Incoming resources are recognised to the extent that there is a right to consideration and is recorded at the
value of the consideration due.
10-

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies
(Contlnued)
1.5 Resources expended
Resources expended are recognised on an accruals basis and are 5ummarised under functional headings on
a direct cost basis, inclusive of any irrecoverable input VAT.
Expenditure relating to charitable activitles comprlse of all expenses that are inCu￿ed in the running of the
company and all related activities.
Govemance costs are costs that are directly attributable to the management of Ihe ¢ompany'8 assets,
organisational procedures and legal procedures for compliance with statutory requirem8nts.
1.6 Fixed asset Inveslments
Fixed asset Investmenls are stated al market value.
1.7 Cash and cash equlvalents
Cash and cash equival@nts indud8 cash in hand, deposits held at call with banks and other short-term liquld
Invastments wilh original maturities of three months or less.
1.8 Flnanclal Instruments
The Foundation has elected to apply the provisions of Section 11 'Baslc Finan¢lal Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instNments.
Financlal Instwments are reGognised in the Foundation's balanc8 sheet when the Foundation becomes party
to the contraclual provisions of th8 instrument.
Bas1¢ Ilnanclal assets
Basic financial assets, which include debtors and cash and bank balances, are Inltlally measured at
transaclion price including transaction costs and are subsequently carrled at amortlsed Cost using the éffectlV8
interest. Financial assets classified as receivable within one year are not amortlsed.
Baslc Ilnancial liabilities
Baslc financial liabilities, induding creditors are initially recognised at transaction price. Financlal Ilabllllles
classified as payab18 Wlthin one year are not amortised.
Other charitable incom8 represents fees rec8iv8d dir6Ctly by the Foundation for management of funds on
behalf of oth6rs,
Derecognltlon of flnanclal Ilabillties
Financial liabilities are derecognised when the Foundation's contraclual obligations expire or are discharged
or cancelled.
1.9 Retirement benefits
Payments to defined contribution retirement benefrt schemes are charged as an expense as they fall due.
11

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Critical a¢counting estimates and Judgements
In the appllcation of the Foundation's accountlng policies, the tNstees are required to make judgements,
estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent
from other sources. The estlmales and assoclated assumpllons are based on historlcal experience and other
factors that are considered to be relevant. Actual results may diff8r from these esllmates.
The estimates and underlying assumption8 are reviewed on an ongoing basis. Revisions to accounting
estimates are recognlsed in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revlsion and future periods where Ihe revlslon affects both current and fvture
periods.
Donations and legacies
Unrestricted Restrfctod
funds
funds
Total
2024
Tolal
2023
Donations and gifts
Grants receivable
7.780
156,951
164,731
433,346
41,725
7,780
156,951
164,731
475,071
For the year ended 30 September 2023
3,500
471,571
475,071
Grants recalvabla for core actlvltle8
Communities in crisis
British Red Cross
Youth Social Action Fund
DCMS
NHS Herefordshir8 & Worc8st8rshire
939
255
37,470
561
2,500
41,725
Investments
Unrestrl¢ted Restslcted
funds
funds
Total
2024
Total
2023
Income from listed investmenls
Inter8st rec8ivable
25,781
8.766
25.781
12.281
32,871
3,235
3,515
3,515
34,547
38,062
36,106
For the year ended 30 September 2023
1,260
36,106
12-

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Charltable actlvltle8
Other costs
Grant
fundlng
2024
Total Other costs
2024
Grant
funding
2023
Total
2023
2024
2023
Slaff costs {including sub-
contract)
Direct fund cosls
Cosl of events
49.075
256
8,908
49,075
256
8,908
46,029
907
2,929
46,029
907
2,929
58,239
58.239
49,865
49,865
Grant funding of activities
(see nole 6)
Share of governance costs
(see note 7)
236,473
236,473
399,736
399,736
46,409
46,409
46,766
46,768
104,848
236,473
341,121
96,631
399,736
496,367
Analy818 by fund
Unrestricted funds -
general
Rastricted funds
95,484
9.164
95,484
245,637
46,766
49,865
46,766
449,601
236,473
399,736
104,648
236,473
341,121
96,631
399,738
496,367
Grants payable
2024
2023
Grants to instilutions:
Voluntary and community groups
236,473
399,736
13-

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Goveman¢e costs
2024
2023 Basls of allocatlon
Payments to other bodies
Fundraising and administration costs
Bank charges
Insurance
Independent examination and
accountancy
Legal and professlonal fees
2,366
31,649
469
495
3,295 Governance
28,267 Governance
513 Governance
457 Governance
Governance
11,430
13,975
259 Governance
46,409
46,766
Analysed between
Charltable actlvities
46.409
46,766
Govemanc8 Costs includes payments to the Independent Examinér of £2,000 (2023 £2,370) for
examination fees.
Trustses
None of the trustees (or any persons connected with them) re￿iVed any remuneration durlng the year, and
none of them were relmbursed for travelling expenses (2023- None).
14-

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Employees
Number of employees
The averag6 monthly number employees during the year was:
2024
Number
2023
Number
Development director and grants officer
Employment ¢osts
2024
2023
Wages and salaries
Other pension costs
47,646
1,429
37,566
1,127
49,075
38,693
Remuneratlon of key management personnel
The trustees, who r8ceiv8 no remuneration (note 8), together with the development director, and grants
officer whose remuneration is shown above, are deemed to be the key management personnel.
There wer8 no employees whose annual remuneration was £60,000 or more.
10 Net gains on investments
Unrestrf¢ted Restrlcted
funds
funds
general
Total
2024
Total
2023
Revaluatlon of investments
(190)
153,952
153,762
28,966
For the year endod 30
September 2023
(408)
29,374
28,966
11 Transfers
Transfers include management fees as permitted by the agreements made with donors on the receipt of funds
for distribution. Total fees transferred for the year were £39,606 (2023 - £70,478) together with expendlture of
£nil {2023 -£29,844).
In the prior year, on 27 April 2023, the Trustees sought to consolidate various existing fvnds in order to ¢r&ate
the Communlty Fund, It was felt that this would ensur8 better use of the restrlcted funding available. The total
value of the Iransfers from exlsting restricted funds to the Communiiy Fund was £316,785. Th8 twsl8es were
satisfied that the use of the transferred funds complied with the remit of the orlglnal donationsmunds.
15-

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12 Flxed asset Investments
Llsted
Inveslments
Cost or valuallon
At 1 October 2023
Valuatlon changes
1,334,240
153,764
At 30 S8Pt6mber 2024
1,488,004
Carrylng amount
At 30 September 2024
1,488,004
At 30 September 2023
1,334,240
13 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accwed income
129,586
15,136
1,891
1,891
144,702
14 Cradltor8: amounts falllng due wlthln on8 year
2024
2023
Other creditors
Accruals and deferred income
1,255
2,666
4,533
2,911
3,921
7,444
15 Retirement beneflt schemes
2024
2023
Deflned ¢ontribution schemes
Charge to profit or loss In respect of defined contribution schemes
1,429
1,127
The Foundation operates a defined contrlbution penslon scheme for all qualifying employees. The assets of
the scheme are held separately from those of the Foundatlon in an independently admjnlstered fund.
16-

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WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
17 Analys18 of nat as88ts between funds
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Reslrlcted
funds
funds
2023
2023
Total
2024
2023
Fund balances at 30
Seplember 2024 are
represented by..
Investmenls
Current assetsl(liabilities}
1,488.004 1,488,004
169,859
367,831
41,923 1,292,317
176.424
305,339
1,334,240
481,763
197,972
197,972 1.657,863
1,855,835
218,347 1.597,656
1,816,003
18 Operatlng lease commlknents
Lessee
At the reporting end dat8 the Foundation had outstandlng commitmenls for future minimum lease payments
under non-cancellable operating leases. which fall due as follows..
2024
2023
Within one year
Between two and five years
108
431
108
108
539
19 Relatsd party transactlons
Transactlons wfth related partles
Durlng the year the Foundation entered into the following transactlons with related parties..
Donations are received from trustees to support the work of the Foundation, These are freely given.
20 Other connected In¢ome
In 2023 a donallon was pledged by one of the Trustees, charitable trusts and was included in debtors. The
pledge was sallsfied in 2024.
-21-

WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
21 Cash generated from operations
2024
2023
Surplus for the year
39,832
43,775
Adjustments for..
Investmenl Income recognised in statement of financial actlvltles
Fair value gains and losses on Investments
(38,062)
(153,762)
(36,106)
(28,965)
Movements in working capital..
Decreasel(increase) in debtors
(Decrease) in creditors
142,811
(3,525)
{140,946)
(3,068)
Cash absorbed by opgratlons
(12,706)
{165,310)
22 Analysis of changes in netfunds
The Foundation had no material debt during the year.
-22-