Charlty Rggistratlon No. 1102266 Company Rgglstratlon No. 04809926 {England and Wale81 WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION 'Tru8tees Ms K Lealher-Lloyd" Mr J Chenevix-Trenth Mr T Vttnnor Mr O Carpenter Mr M Jackson OBE M Blewiit IApptslnted 18 September 2025} (Appolnted 18 Sgplèmber 20251 (Appointed 18 Seplembor 20251 N C J Fairlie CLCOX Charlty numbor IEngland and Wal051 1102268 Company number 04809926 Registered office Kingsway House 4041 Foregalo Street Wor¢gsler Worc¢slershir WR1 1EE Independent examiner Kendall Wadley LLP Granla Lodg6 71 Graham Road Malvem Worcestershire WR14 2JS Bankor¥ National W6slminler Bank PIC 24 High Street Kidderminsler Worcestershire DY10 2DL
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED CONTENTS Page Chairman's slalemenl Trusl8es' ieport Indapond8nt exam5nerf8 report Statomont of flnanclal aclivrtl&s Balance sheet Nolgs lo the account8 8-17
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED GHAIRMAN'S 8TATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2025 h8ve ureat pleaswe In pr68enUng our AnnuÉl Report and FIrnal Statements for tho etyling 8 SeMember2025. 1am tt8PPy to r8POrt that it ha5 boen 8nothef busy. rJ)allwlng bLEt successful yeartr tho Foundollon. Durhg the ¢121 yoar. tted £258,946 ID 38 ctsrrnllunlty Orn18aOnB. es er a gie Variety of drffemt vme dafillh to work wuh Wjroethrshiro Ggunty Coth¢tl for th8 s6rA)nd year Kur[n9 tILg StretleIa rwtorghiT¢ Fun(L £Z4,578 ra188d by F FQrt4JTatchlnu'the £1LMI,000 recatved from ¢. we were In a sib.on on¢8 P9aln to dlsbibut8 $ioniknntfds to a vaTEfy of Ihty TN)St Impadful tharite8 and tharilablB"grDU Thanks to the gwl g8noros1ty rf a local phllanthropist, wa wore 8bl¢ lo ¢slabllsh the Todm FuThJ. 8lmad ut improvlng thg lfves of dl$advantsged young people itt the wunty. Weworked closety wth the dotwr to klendfy Ihfyp terhfic oiganl88tions, Tngd& dotiatiDnÈ totalllno £45.OCO, makln9 a rool dlfforpm to Ihe outstand1$ wjrk done by these groups. W& aro ILK)king forward lo toniinulng to workwith thg donor to enhan local young peopb's Sve¥ tnto the ftJluTr. A6 ahyays, we 7Nere very PIra5 to WOIK wllh th6 Hlgh Sh&drron Ibndraiqkng events 8nd Irilllatives to Svpporf the 08en charities of Ilie Higli Shethtf. Tre HS lund 80 gdlnEd o very generous donauon ¢f£5U.WO Iduo to clo8ure 8nd spenMul ofth8 Ware Truati to wpport a p¢rpetufjl prwrnmm$to help yoyno peopl& undgrsland the power o1th8 law and how VblusfO System operaies. T00h thE Gèttlng tt0rt proor8rnmg. Th1$ 8xtsllaTrt Inthakn to bE) undortaken by sueco86lve High 8herfff% InlLI the fututwwrtklhè 5UPPOrt oftho fvndino. Our atttw biCF has ak¥ay8 bwnto tykn vAJppoftthose &th•fÉ8r organlsalion4 Ch4n•S or CICS wbo (10 8u¢h I work kn helplng to tmprov6 thg fves DF those In Otlr eotsnty who face particular chalbng8a In thgtr INes. IE [8 always • major issue to rgise Ihè lund5 forlhfg wovrf, and JFKKB so than kn tlie cuNent EMn¥Ate. HIYVEr, we 11gve been in1b fortunato to work donors And glhar8 who #harè our pa$8iotTr for the Importan ol th woyk, and w8 w$nt to ext8nd our enormou6 9raNlu¢e to all Ihoye vtho havfj kindty suppjrted us wlth thdr money. theirtrtie ot8VBnlustthofrgo0dvA 8Thden8W. In the moJth8 wbsequent lu the entt of Dur flnonLi year in Septamber. Inree of our fomgest Se19 truBtso$ hav8 stepped down, In Iln& our (xynEtiluUon. We procoundw gratefijl to Prof858or Tamar Thomp50n OBE {appointsd Ortober 20121, Nld¢ Wenknuorlh St8nl8y DL1gPPtsntpd May 20141. ond Davld shaw (appolnted May 20141,- ail throe ¢flh68& Indlviduals madg a huge tontrlhutkjn to tho WCF over r¥wiy year$, eAd were unstinng in gwlrtgth8lrlirne ond tholrexp¢Tdso. WaIkeM $inEerety. Cm beNfof my ex)Ileagues on iiie boa. l aisn wanlto tecord oyr great 8adné88 8ft¢r the 1056 of our frtend and fdlow boord meml)er Mafft Yates lost BeFber. After leadlng Ihe Hereford and Wcircester Fir8 SeNice. Mark ¢J)ntinued lo $erye hlÈ ¢omrnunlty $8 Chalr ol Iho Hereford and Worcejterlleallh and Care Tw¥l. as well as 8eMng on tho tF Board.14ewas afant88lc cA)Iot In overy wty. and ourthoughts ren[nrts h1$ wife end tsmlly. ) a hapfvnots. i am dmOd w gnnounc8that Prof8S%0rTamarTh0BE agTeedtolkn onth6 Tolè asvth Pid0tO Foiind8l[pn.worng Clos0 wllh ¢Ut Pr¢sldenL Ihe Lrwd LKutenattt Boatsi (ararrt OBE May l a180 taKÈ th1$ opportuotyi ttt thank onco 4gHin oéjr genero donor& wthOuttIM we wJuld tt bE 8E)le tLI pro8 fha gupwrt acsoss County whlch Is to badly needed,. ourAmb•¥eadors for to pronKt6 tr FoLmdation,' OUrTrue¢ts who gkwe •0 98nerouBty of Ihelrlme w15dom.' ano not lea51 oursmll axeVelo8rn. worfl so haro t¢ hdp the VVGF mak8 mathwro knP8Ctarm88 Ihe County. W8 lookfoswwd kèwothng Mlh YOU 811 In th8 yeaF) come. L. MrJ Ch3nwki-TEnch ChATmia 13 W2026
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The truste&s present their annual report and financial statemen18 for the year ended 30 September 2025. Tho flnanclal slalemonls have bagn preparad In accordance with the accounllng PDlScles sol out In nolo 1 to the financial slalements and compty wtih th& Foundation's governing document, the Companles A¢t 2006 and "Accounting and Reporting by Charlllos.. Sl8temenl of Recommended Pracllce applicable lo charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" {effeotlve 1 January 20191. Objoctivos #nd actlvltl The Foundation's objects are lo channal endowments and olhar funds lo local voluntary and communlty groups within the County Df Worcsslershlre. We are an aceredited member of UK CommunSty Foundations, a national association which Pfomofg8 and Supports 47 communSty foundallons across th& UK. The Iruslees have pald due regard to guidance issued by the Charity ComrnissiDn in deciding what actiwties the Foundallon should undertako. Achievements and performancè The rnovements on the reseNe¥ manaued by the Foundallon 8r& d&s¢rlbèd In the note8 accompanying the financsal slalemenls. During the year, Worcestershire Cornmunty Foundats'on (VVCFI achieved the following signifipAnl impacts lo the btsnefil of our communllios county-wldo through th& dglivgry of fundlng as follows.. We distributed £256,946 to 38 communlty organ18alion8 Wg worked in partnership to deliver funding from the following endowmenl-based and flow-through ftjnds.. Flow-through Funds Tho Strengthening WoTcestsr5hirn Fund Phase 1- This was the first phase of a flow-through m8lch fund sot up in partnership with Worce51ershlre county Coun1 to di51ribule excess funds trom a Govt. community giant soheme to cornmuni1Ses affected by the cosl-ol-livlng crisis. WCF receivgd a lolal of £133,000 from WCC mal¢hed by funding of £24,575 raised by WCF from other sources induding trusts. Torlm Fund - a now flow-through fund, stsl up by a local phllanlhroplsl who has sokl hls Worc8Stershlre-based business and wants to support disadvantaged young peoples, projects locally, improwng their life chans. The donors will make an annual donation lo WCF In August each year. the rnajorty of which will go out in donations lo a small number of seloclod organisalions. WCF received £45,000 in 2025 whl¢h was distributed beiwg&n Wyra Forost and South Wor¢&sler$hire Nlghtstop and Mediation Servlce, Kiddermin81er and District Youth Tru81 IKDYT} and Perdi8well Young People'8 Leisure Club. Endowment Fund Th• Hlgh Shoriff Fund {HS Fund) The fund generated income through fvndraislng events and inlliatives lo 8UPPOrt the work of communlty groups selected by the HS,. £8.QOO was dislrlbuted in srno11 grants lo four local tharilies speclali8ing in young people's Causes 8nd homelessntrss, Including Malvern Be Your Own Boss and Mikey's Boxing Gym. In addition, £50,000 w88 recelved Into Ihe fund from the Klldare Tfusl to 8UPPOrt the Gelllng Court progromrne. enabllng young people lo experience and bellor understand the juslicg syslgm- this will 8UPPQrt this Inillallve into the futurg. Tom Jones Fund - In memoiiam fijnd Its ¢ommemoral8 a young 81udent who tragiiAlly1081 his Ilfe In 2018. Thls ygar wo distributed £2,883.98 for projec15 relating lo sport and young people. Dr Carl Ellson Cllnlcal Innovatlon Fund - In memorfam fund lo commemorate 8 local doctor. The balan¢9 of £13,144.03 was distributed to the Myrlad Centre and the fund c108ed.
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT} FOR THE YEAR ENDED 30 SEPTEMBER 2025 WCF Communlty Fund This fund is comprised of a number of smaller resiijual WCF funds which were combined in 2023 to create a new, more purposeful funding vehicle with a general remit, which is intended to support where other funds are unable lo. It is recommended to distribute no rnore than 5tsk of its investment revenue value each year. Friends ot WCF - Our WCF membership scheme was launched in Novemb6r 2023 to coincide with our 20th anniversary cElebTalions. The sd)8me is targeted at individuals, other trusts and rpOrat8$, with the income raised dlvided b&theen the Cornrnunity FL4nd and unr&slrf¢ted ftjnding. We have ntInUed lo dgv8lop our work bosad around the 2024-27 WCF Strategy. with the aim of becoming a more resilient, inclusive and effectivè gftnt maker which can sustainably meet Wor¢estershire's community netrds. We are proactivety developlng existing and n&w fundlng rel81ioThships with donors and slral8gi¢ partners lo increase and improve our fundraising and granl-making Impacts. Th18 Indudes wort(ing with local agencies including Councils, the Polictr 8nd the NHS, as well as corporate and individual donors and professional advisors. We have begun the proc&ss of developlng a new legacy prograrnrne lo Support our endowment fundlng,. 81 the same lime, we continue lo be cognisant of maintaining and developing strands of flow-through fijnding for ilnmediale impacts to current challenges across the county. Flnanclal rev19W The majority of the Foundation'8 Income Is obtsinod from donations, grant administration, and Governmanl (Gift Aid and Grassroolsl. Banknng arrangements are plad with Nalwesl Bank plc. The Foundation's endowment funds were managed by St James'$ Place and CCLA. Incoming rosourcas lotalled £378,79912024 £227.191) wlh expendllure of £344.143 (2024 - £341.1211. The Inve8lmenl1088es werg £52.846 12024 - gains £153,762) resutting in an de¢reaso in lolal funds of £18,19) 12024 - increase of £39,832) and lolal reservès of £1,837,845 -12D24 - £1.855,8351 of which general reserves lolal £235.696 {2024- £197,972). 11 is the pollcy of tho FiTrundallon that unre$lrict¢d funds which have not been de8ignalod for a specific use should b6 malntalned al a level equlvalenl lo beiween slx lo Iwelve month's expendllure. The trustees consider that reserves al this level will ensure that, in the event of a signlficanl drop In funding, they will be able lo conllnue the Foundation s current acllvilies while consideratitsn is given to ways in which additlonal funds may be raised. This level of reserves ha8 been m8lnlaineil throughout Ihe year. Tha trustees have assessed the major ri$k$ lo which the Foundation 15 exposed, and are Salisfifjd that systems aro in place lo miligale exposure to the major rlsks. structurey govornance and manag•mont The Foundation is a company limlted by guarantee and Ss govgrngd by its Memorandum and Articles of Association dated 3 June 2003. The Foundation acts as a condull lo local philanthropy, linking private and public funders with small communty projacts across Wlorce51ershire. We are an accredited m$mber of UK Community Foundations, a nallonal asso¢lation which promotes and supports 47 comtnunily foundallong across the UK. The trustees, who are also the dlre¢tors for the purpose of company law, and who served durfng the year and up to the dale of signature of the financial Statements were.. Mr N Lloyd Mr M J Yate5 Mr N P Wentworth-slanlay Professor T J Thompson OBE MTDKSh8W Ms K Le8lher-Lloyd (Rasigned 31 October 20241 (Rasigned 19 September 20251 (Resigned 2 December 20251 (Resigned 10 February 20261 (Resigned 12 May 20261
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED TRUSTEES. REPORT (CONTINUED)IINCLUDING DIRECTORS, REPQRT) FOR THE YEAR ENDED 30 SEPTSVBER 2025 MrJ chenevix-Tr¢h Mr.TVwer Mro ca.nt@T Mrm JoGkaon OBE Élewllt N C O F8lrla pprAnled 18 septeNerII25I ppo.1nts418 s6pteffjber2IsJ (Aypolntstt 48 é6ptomber20251 lQpn• otlho IrLthes bo8w.¥eDeffidd InteTrsÈln Ihe o)mp8nwAILoflttelwsts86ArenmbgN ofthe wmpgny gu8rante21) ronrftrA]tg Él kn th¢ QVMI ofa wlndin9 UP. The &oard engauos ltt an owofng and pglIC È(n of pOteany8ultabTrU81e9#eewISI knowlad9a of th? ¢tOr, and Ibl conl8djwhh h8vethe potenliatb ylèld slunlftcant don3tioD& N$t$S Undtt Bn Indudon prooss lo brfeflhemon theoru8ni8g11gn IhelrotslLltory oEli9aiivs uThl8rch&ty& MpanY law. Tralnlng lor Board trmbeii 1$ vndertii vn aikad IIoL'ba515 as appropllalo In ordorto en$um thaltho Boerd ents r46vBnlskll gats ft>rthe Ofte0eNnO oflhb Founfjalon. Ttglnlng ftr mÈmb8r81# de1fv8f8dthrough s gcin¢ ttom$ Included ¢uend98 arydsp8c¥81 se8sbn¥ i(tèohtentr8tèon iNwort8nt loplAll1¥arrnny8eOc&10ey01oPo in(lkndul$ aridth8 org8ni84llona# a Tho D8r00fthQt0l0# ofthg2empioyees are DliaLior8nd ¢rBnts Offf¢¢r. Thèwer8ge nymbgr•f)mployee d'utMgiiiowwstsdnaPTE)., tthpgsts aré Fln#Thdth9 supportl¥contracled M è Thts reEk)"¢IYas pr¢pqrgdlTra&ti"r¢8n¢è,yffb IbeWW"I Wo¥.foiis rafn9t(PI Pa l¥ ofthèCthtyont?sprt20 Yhe tr'utteas, ¢eptsrtwasaFproW Bt>d ofTrythi".eé. MrJ Chenevlx-Tren OBteO.' fj32
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED I report to the Iruslees on my examination of the financial slalemonts of Worcestèrshire Communty Foundation Limited (the Foundation) for the year ènded 30 September 2025. Responsibilities and basis of report As the trustees of the Foundation land also ils directors for the purposès of cornpany L2wl. you are responsible for the pwparation of the finanaal stalernents in accordance wlh the requirements of the CompaniesAct 20C6. Having sab'sfied myself that the financial slalements of the FoundaliDn are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent exarninallon, I report In respect of my examlnalion of the Foundation's financlal stalemenl8 Carried out under secllon 145 of the Charlties Act 2011. In carrySng out my examination I have followed the Diroctions given by the Charity Commission under sectDn 145(5llbl of the Charities Act2011. Indepondent examine8 statement Since the Foundation's gross income exceeded £250,1)00, the independent examiner rnusl be a member of a body listed in sectiDn 145 01 the Charities Aol 2011. 1 confimi that l am qualified to undertake the exarnlnalion becauso 1 am 3 memb6r of the Institute of Chartered Accountants in England and Walos, whit* Is one of the lis16d bodies. have completed my examination. I confirm that no mRtters have come to my attention in connection wtlh the oxarninatlon glvlng mo Cause to belleve that in any material respect.. a¢counting records were not kept in SpeCt of th& Foundation as required by seotion 386 of the Companl&s Act 2006. tho flnandal slalernents do not accord with thos8 records.. or the finandal statements do not comply wtth the accountlng requirernenls of 5eolion 398 of th8 Companies Act 2006 other than any roquiramenl th81 the finandal slaloments giva a Iruo and falr wew, which is not a matter considered 8s part of an indgpendenl examination., or the finanryal slalements hav$ not been propared in ardance wSth th¥ methods and wlndplos of the Slalemenl of Recommended Practice for accounling and reporting by charities appllcable to Gharllies preparlng their tinanclal statements In aocordance with the Finandal Repo Standard applicable in the UK and Republic of Ireland IFRS 102). I have no (oncems and have come auoss no olhw matters In oonnectlon wSlh th6 examlnaJon to whlch attention shou bed wn in this report in order to enable a proper understanding of the financial stslements lo be reached. Ellzabeth Needham ACA CTA IVATI Kendall Wadley LLP Granla Lodge 71 Graham Road Malvem Worceslershtre WR14 2JS 13 May 2026
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unr•strf¢ted Rostrlctsd funds funds 2025 2025 Total Unreslricled funds 2024 Restricted funds 2024 Total 2025 2024 Notes Incoine from: Donations and legacte8 Charitable a118$ Investments 51,308 20,500 3,203 268,916 320,224 20,500 38,075 7.780 24,398 3,515 156.951 164,731 24,398 38,(2 34,872 34,547 Total income 75,011 303.788 378.799 35,693 191,498 227,191 eiiditure on: Charltable gclivitlas 79,794 264,349 344.143 95,484 245,637 341,121 Nel Uossesllgains on vestments 10 152.8461 152.846) (1901 153,952 153,782 Net loutgolng}Ilncomlng resourc¢s bofore transfers Gross translers belw8en funds (4.783) 113,4071 {18,190) 159,9811 99,813 39,832 42,507 142,5071 39,606 139,e061 Net movemgnt in funds 37.724 {55,914) {18.190} {20,3751 60.207 39,832 Fund bal8nce8 al 1 October 197.972 1.657,883 1,855.835 218,347 1.597.656 1.816,003 Fund balances at 30 Septsmbar 235,e96 1,601.949 1,837,645 197,g72 1,657,863 1,855,835 The slalement of financial activities includes all gains and10sses recognised in the year. Th8 statement of financlal activities Includes all uaIns and losses recognlsad in th8 y8ar. All income and expendllura derive from continuing activities. The stalernont of finanGlal activlbes also compllgs with the requirement5 for an income and 8xpendlture aU1 underthe Companies Act 2006.
WORCESTERSHIRE ¢OMMUNITY FOUNDATION LIMITED BALANCE SHEEr AS AT 30 SEPTEMBER 2025 2028 2024 Note4 Flxed assèts Inv6stments 12 1,396.842 1.486,[4 Current4wts 13 ,020 1.891 36g.86t Cash at bankandln hand 371.752 Crgdltorg: •mountyfalllng dugwithln one year 14 ,Q24) (8.921] 441,OOJ 987,831 Total as88ts 16$5 rturrollt Ilablllflpa 1,837.(H5 1,8S5,&S3 Tho fund k)f the Pound•tion 8stficted fuTrd8 UnrestFTC(ed funds-gow 18 1MoI,949 235.696 1,857,ts03 197,972 1,837,645 1056,88 Tho tgmpgnyiEerdstbd to the &xethptlDn f{om th8AuOitrtyur¢ément ¢ontalne£lln" ¥wAI(MJ 477 Dfth& Conpdnid8Ait 2W6,forihe yOAf6nd$d 30 Soplenibw20.2a. Th>tru4te88 athowktt9olhoir tEpon¥lbilw for bnsurtrw thaithg chgrty keepfr dcrAJunty fo¢d5 whlth coNipty wth èe a86 of th8 Aet and for preparing financl8161ate" rnents whith give 8 tT¢se and f8tr vfow of Ihè state OT 8ifaifsoY eempany ys 8tUIg@lld of th& hnanclal yoaranQ of its irjcoming rewrces 8ppllethTon of resources, Iiiulutllng Sts in¢Ol1 gnrl exp¢n Iluie, fvr Ihe ftnanGiyodr tn a¢coFdancewllhthe re.qulr¢r(Entsof sedlnns 394 ano 3è& and whlch otherw58e rrip y the req¥ifemetrt& Of the C¢xnpaBI?s Act 2UOO relall0 to firi&n£wl 8lalerngnts, N).hros #PE4k.gblg Cofnpany. Tn¢ mèmbeF8 have nolreqthdtt(e winpany toohtojnan audnolibfin8laI $tateAxnts fortheyearln oue6M In 8co)r(fglleeTMth seGtbD 47e. finahclal 8tafements hav¢ been prep4rFd InwcaoFdon.pwiih th& P110M& ipplirnbt¢ companle8 au¥ect tothg$mallwmpanTès regim&. The*ryW.al tnentswwe approved" tythetru8tm on 13 Moy202fj MtJCheriv4Lx-Trench Dlraddr
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng pollclg$ Company inforniatlon Wcircesteishire Community Foundation Llmiled 1$ 8 pralÈ company Ilmitgd by guarantee In¢¢)Ipor8led in England and Wales. The regi81er&d office 18 Klngsway House, 4041 Foregalg Strèèt, Worc881er, Worcestershire. WR11 EE. 1.1 Accounljng ¢onYontlon The fi'nancial statements h8ve been prepared In occordance with the Foundation's goveming document, the CompanSes Act 2006, FRS 102 'The Financl81 Reporting Standard applScable Sn Ihe UK and Republic of Ireland. I'FRS 102.1 and tho ch8rth.es SORP "Accounting and Réportlnu by Ch8rilles'. Ststoment of Recommended Practice applicable lo charille8 praparlng their ac¢ounls in accoidance wllh th8 Flnandal Reporting Standard applicable in the UK and Reputilic of Ireland {FRS 1021" leffeclive 1 January 20191. The Foundation is a Public Benefll Entity as defined by FRS 102. The finanrial statements are prepared In slerllng, whlch Is the fun¢tlonal ¢urrency of the Foundauon. Monetary amounts in these financ4al slaternenls are rounded lo the nearest £. The a¢¢ounts havo begn proparèd on Ihg hSslorieAI cost ctsnv&ntion, modified to indud0 ¢èrtain financAal Instrument8 al falr value. Th8 Prtndpal accoundng polldes adopted aro Sel out below. 1.2 Going concern Al the lime of approwng the financial slalemen15, the Iruslees have a r6asonable expectation that the Foundation has adequate resources to continue in operational existen for the foreseeable fvlure and that Ihgre aro no material uncertainlles about ils ablllty lo continue. Thus the trustees oonllnue lo adopt tho going oncern ba$15 of a¢counling In proparing tho financial slalom6nls. 1.3 Charltablo fund$ Unreslricled funds are avallable for use at the discretlon of the Iruslees In furtherance of Ihelr charitable objectives. Re81rited funds are gublecl to sped condition8 by donors or grantor8 as to how they may be u8ed. The purposes and uses of tha reslricled fvnds are set out in the notes to the financial staternenls, 1.4 Incomlnu re8our¢os Income is recognised when the Foundation is legally enlilled lo il after any perfomance Ctsndilions have been met, the amounts can be measured reliably. and it Is probable that income will be received. Cash donallons are recognised on receipt. Other donations are recognised onc6 the Foundation has been nollfied of th8 donation, unlgss perfom)8n¢e Condllions roquira defgrral of the amount. Inm0 tsx recoverable in relation lo donations received under GIftd or de8ds of covenant 15 recogTiised at the tlm6 of the donation. IncomiThg resources are recognlsed to the extent that there18 a right to con31deratlon and is recorded al the value of Ihg consldgralSon dug.
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accounting policio$ IContlnu8dl 1.6 Resources expended Resources expended are recognised on an accrual$ basis and aro summarised under functional headlngs on a direct cost basis. incluslve of any Irverable input VAT. Expenditure relating lo charitable actwilies comprise of all expenses that are Incurred in the running of the company and all related a1Ville$. Govemance costs 8ro costs that are dire¢tly allribulabl& lo tha management of the company's assets, organisalional procedures and legal procedur88 for complian¢0 wllh statutory requirements. 1.6 Flxgd as$et Investments Fixed asset investments are stated at market valu6. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held al call wth banks and olher short-lerm liquld Investments with original malurilies of three months or less. 1.8 Flnancial instrumerrts The Foundation ha8 elected lo apply thè Pro810n8 of Section 11 '8asic Financial Inslrumenls, and Sectlon 12 'other Flnanaal Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Foundation's balance sheet when the Found8Uon be¢omes party to the wnlra¢tual provislons of the inslrumenl. Baslc financialassets Basic financial assets, which include debtors and cash and bank balancos, are initially measured at transaction price induding transaction costs and are subsequently caTri6d at amortlsad Cost using the effective Interest method. Financial assets ClaSsled as receivable within one year ar8 not amortised. Bas1¢ flnanelal Ilabllltles Basie financial liabilities, including creditors are inilially recogni8ed al tran8actlon prico. Fln8ncial liabilities d88s]fied a8 pay8blg wilhln one year are not amortised. othor charitable income represents fees received directty by the Foundation for management of ftrnds on behalf of olh8r8. Detsc(wnltlon of flnan¢lalllabllltles Financi81 IlablllUgs are dere¢ognised whgn th9 Foundation's wnlractual obligations expire or are distharged or cancelled. 1.9 Retir&m•nt benèfits Payments lo definod Conlrlbulion retlrement bgneftt schemas are charged as an expense as Ihgy fall dug.
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Critical accounting estimates and Judgements In the applioallon of th9 Foundation's accounting policies, the trustees are required lo make judgements, estlmatos and 8ssumpllon$ about the carrying arnounl of assets and liabilities that are not readily apparent from other 80urc88. The e81imales and assoualed assumptlons are based on hlslorical experlenc8 and other factOT3 that are considered lo be reVant. Actual results may diffar trom theso eslSmales. The asllmalgs and undarlying assumpllons ar8 revlewed on an ongoing basis. Res1OnS lo accounting estimates ar& re¢ognis&d in the period In which the estimate 18 revised where the revision affacts only that perlod, or in the porlod of the revislon and future periods where the revision affeols both ¢ur¥ent and future periods. Income from donadons and lega¢l8S Unrestricted Restricted funds funds 202$ 2025 Totsl Llnrestrlet•d Restrleted funds funds 2024 2024 Totsl 2025 2024 Donation8 and gifts 51,308 268,916 320,224 7,780 156,951 164,731 Income from invgstsnonts Unre8trictsd Restrictod funds fund 2025 2026 Total Unrestrlctod Ra$trf¢tsd funds funds 2024 2024 Totsl 2026 2024 Income from unlisted investments Interest receivab¢e 34.033 839 34,033 4,042 25.781 8,766 25.781 12,281 3,203 3,51S 3,203 34,872 38.075 3,515 34.547 38,062 10-
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Charltsbla actlvltles Other ¢08t$ Grant fundlng 2026 Total Other co8ts 2026 Gront funding 2024 Total 2024 2025 2024 Staff ¢osls lincluding sub- contract) Direct fund costs C051 of evènts 51,245 164 7,239 51,245 164 7,239 49,075 256 8,908 49,075 256 8.908 58,648 58,648 58,239 58,239 Grant funding of acllvilles {s8e note 61 Share of governance costs Isee nolo 71 256,946 256.946 236,473 236,473 28.549 28,549 46,409 46,409 87,197 256,946 344,143 104,648 236,473 341.121 Analysiy by fund unroslric16d funds- genèr81 Restrictod funds 79,794 7,403 79,794 264,349 95,484 9,164 95,484 245,637 256,946 236,473 87,197 256,946 344,143 104,648 236,473 341,121 Grants payable 2026 2024 Grants lo Inslilutions.. Voluntsry and community group8 256.946 236,473
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Governance costs 2025 2024 Basls of allocatlon Payments lo other bodies Fundraislng and administration c08ts Bank charges Insurance Independent examination and accounl8noy 2.583 15.192 1.010 476 2,386 Governan¢tr 31.649 Governance 4e9 Governance 495 Govemance Govemance 9,288 11,430 28.549 46.409 Analysed between Charitsble acllvities 28,549 46,409 Govem8ncè costs InrJude$ paymonts lo th& Indopendenl Examlntsr of £1,733 12024 £1,650) for examinallon foes. Trusi•os None of the tru81e85 IOT any persons connected with Ihernl received any remuneration durfng Ihg year, and none ol them were reimbursed for Iravdling expenses12024 None}. Employ••s Number of gmployees The average monthly nurnber èmployees during the year was.. 2025 Number 2024 Number Developmgnl diraGtor and grants offic8r Employmettt C08ts 2025 2024 Wa98$ and salarles Other penslon costs 49,752 1,493 47.646 1,429 51.245 49.075 Romungratlon of key managem8nt pgrsonnel The Iruslees. who receive no remuneration (note 81, together with the development direalor, and grants officorwhose remunerallon Is shown above. arg (Jeemed lo be the key management personnal. There weTe no employee5 whose annual remuneration was £60.000 or more. 12-
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 10 Galn$ and lo$sas on Invests))ants Unre8trlcted Restricted funds funds 2025 2026 Total Unrestrlcted Restrictsd funds funds 2024 2024 Totsl 2025 2024 Galnslllosses) arislng on.. Revaluatson of investments 152.8461 152.8461 1190) 153,952 153,762 11 Transfora Transfers indude management fees as permitted by the agreements made with donors on the recèipt of funds fof distribution. Total fees transferred for the year wore £35.20712024 - £39,806> together with expenditure of £7,30012024- £nill. 13-
WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 12 Flxod as88t invèstments L18ted Inve8tmènts Cost or valuatlon At 1 October 2024 Valuatson changes Disposal proceeds 1,488,004 152,8461 138,5161 At 30 September 2025 1.396,642 Carrying amount AI 30 September 2025 1,396,642 At 30 Sgplember 2024 1,488,004 13 D&btors 2025 2024 Amounts falllng due wlthln ono year: Trade d&blors Piepayments and a¢¢rued in¢ome 400 1.820 1,891 2,020 1,891 14 Crodltors: amounts falllng duo wlthln on• y•ar 2025 2024 Other creditors Accruals and daferred Income 1,333 5,691 1,255 2.666 7,024 3,921 15 Retirement benefit schgm66 2025 2024 ogflned contrlbutlon 8ch8m•ts Charge to profil or loss in resp&ct of dofjnod ¢onlribullon schemes 1.493 1,429 The Foundation op8rales a defined conlrlbulion pension scheme for all qu81ifylng employe88. Th8 88S818 of the scheme are held separately from thos& of th$ Foundation In an Independent adrninislered fund. 14-
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WORCESTERSHIRE COMMUNITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 17 Anolysls of net assets beiweon funds Unrestrlcted Restslctsd fund$ funds 2025 21125 Totsl unreslried funds 2024 Restricted funds 2024 Total 2025 2024 Fund balan¢&s al 30 September 2025 are reprfysented by.. Investmen15 Current asselsloiabililiesl 1.396,642 205,307 1,396,642 441.003 1,488,004 1,488,004 169,859 367.831 235,696 197,972 235,696 1,601.949 1.837,645 197,972 1,657,863 1.855,835 18 Oparating leaso commltsnents Lessee Al the reportlng tsnd dale the Foundation had outstanding Commitments for future mlnimum18ase paymanls under non-cancellable operating leases, which fall due as follows.. 2025 2024 Within one year 19 Relatgd party tran$a¢tlon$ Transactions wlth related partles During the year the Foundation entered into the following transactions with related parties.. Donallons are reoglv9d from Iru8t88s lo support the work of the Foundation. These are frsety given. 17-