OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Cambridgeshire Community Foundation

2024-03-31-accounts

[Type here]

@ Registered with rR) FUNDRAISINGREGULATOR

Contents

Reference and administrative details of the company, its Trustees and advisers .................. 2 Trustees’ report ................................................................................................................................................................................. 4 Independent auditor’s report ............................................................................................................................................. 24 Financial statements ................................................................................................................................................................. 30 Statement of financial activites ........................................................................................................................................ 31 Balance sheet ................................................................................................................................................................................... 33 Cash flow statement .................................................................................................................................................................. 35 Notes to the financial statements .................................................................................................................................. 36

1

Reference and administrative details of the company, its Trustees and advisers for the year ended 31 March 2024

Trustees

S J Catling (Chair)

C Stenner S Thompson J Slota-Newson G Thomas P Lewis E Damazer A B Griffiths S Garnham J Jelley A Wolejko (appointed 1 November 2023) S Sperryn (appointed 1 November 2023) J Datta (appointed 1 November 2023) (resigned 20 Aug 24) K M’Marete (appointed 1 November 2023) C Manktelow (appointed 1 November 2023) L Sinclair (resigned 1 November 2023)

Company registered number 04998990 Charity registered number 1103314 Registered office Hangar One, The Airport Newmarket Road Cambridge CB5 8TG Chief Executive Officer Michael O’Toole Independent auditors Price Bailey LLP Tennyson House Cambridge Business Park Cambridge CB4 0WZ

2

Bankers Lloyds Bank Gonville Place Cambridge CB2 1BQ Unity Trust Bank Nine Brindley Place Birmingham B1 2HB Investment managers Rathbone Investment Management Limited City House 126-130 Hills Road Cambridge CB2 1RE CCLA Investment Management Limited Senator House, 85 Queen Victoria Street London EC4V 4ET

3

Trustees. report

Chair’s statement

We have great pleasure in presenting the Cambridgeshire Community Foundation Trustees’ Annual Report and Financial Statements for the year ended 31 March 2024. This report highlights our key activities, achievements, and financial performance.

It is a privilege to be Chair of Trustees of the Foundation, the charity for a better Cambridgeshire. We work to increase the understanding of local needs and to raise funds to support charitable projects tackling issues in our local community. The projects we support contribute to a better quality of life across the county, including reducing disadvantage and inequalities.

2023-2024 was the second year of our three-year strategic plan. I am delighted that we have achieved most of our strategic aims and made significant progress against our longer-term goals. Most importantly, our grant-making for 2023-2024 reached a record level totalling £4,610,812 against our £4 million target and compared to £2,905,381 in the previous year. This represents year-on-year growth in grant-making of 59%. Our total income rose to £6,053,749, compared to £4,028,283 in 2022-2023.

Thanks to the incredible generosity of our donors, we were able to achieve this growth in grant-making. This year, we agreed significant new funds including the Cambridgeshire and Peterborough Combined Authority Learning & Skills Fund that offers grants to increase and broaden participation in adult learning and skills development, particularly to reduce inequalities in access to adult education. We also secured new funding from the North West Anglia Foundation Trust to establish the Integrated Neighbourhood VCSE Fund.

The impact these funds achieve is what drives us to make Cambridgeshire Community Foundation even more successful at supporting the local community. We are focused on growing local philanthropy and place-based grant-making in Cambridgeshire, maximising the positive impact of charitable giving. Our experience, research, and knowledge help donors effectively support causes that are important to them.

Stephen Catling Stephen Catling (Tue, 22nd Oct 2024 Chair of Trustees 17:25:50 BST)

22 Oct 2024

5

CEO’s introduction

Preparing for 2023-2024, we knew that we had an ambitious set of aims for the year. Not only were we aiming for a record level of grant-making, but we also wanted to significantly develop our capacity, build stronger and wider partnerships, and grow the Foundation’s profile.

Communities across Cambridgeshire face a complex and challenging

environment, especially given the continuing pressures felt by many through the cost-of-living crisis.

Listening and responding to the community and the local voluntary sector is also really important for us. They really understand local issues and needs, and they know what solutions could work best to solve them. I am really pleased that we have significantly increased our community engagement work and continued to enhance the accessibility and diversity of our grants.

In terms of our ambitions to grow the Foundation’s profile, I am delighted that, in 2023-2024, we launched a new visual brand identity and website. You will see these changes reflected in this report.

Thank you to everyone who made it possible for the Foundation to achieve this year’s successes and impact. We rely on the generosity of individuals and organisations who are equally passionate about supporting our local community. Special thanks go to all the charitable organisations who have delivered such positive change in our communities, to our donors and to the whole team at Cambridgeshire Community Foundation – staff, trustees, and volunteers.

As we look forward to our 20[th] anniversary in 2024, I am more passionate than ever that we continue to support the community today and for the long term.

Michael O'Toole

Chief Executive Officer

6

Overview of report

The Trustees (who are also directors of the Foundation for the purposes of the Companies Act) present their Annual Report together with the audited financial statements of Cambridgeshire Community Foundation (the Foundation) for the year ended 31 March 2024.

The Trustees confirm that the Annual Report and financial statements of the Foundation comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019.

7

Objectives and activities

Cambridgeshire Community Foundation’s objectives, as set out in the governing document, are to award grants to local charitable causes working in the community in the county of Cambridgeshire and its immediate neighbourhood. Individuals, families, local companies, and public bodies make this possible by supporting charitable funds held by Cambridgeshire Community Foundation.

Cambridgeshire Community Foundation is the charity for a better Cambridgeshire, working to increase the understanding of local needs and to raise funds to support charitable projects tackling issues in our local community. Supported projects contribute to a better quality of life across the county, including reducing disadvantage and inequalities..

Our mission

Cambridgeshire Community Foundation is a proactive community and philanthropic leader dedicated to improving the quality of life for the people of Cambridgeshire. To advance our mission we work with many partners to:

Our vision

Our strategic vision is to harness the county’s success and economic performance to reduce inequity and social problems by empowering communities to help themselves.

To achieve this, our aims are:

Objectives

The Foundation's objectives, as defined in its Memorandum, are:

8

limited to, the advancement of education, the protection of good health, both mental and physical, and the relief of poverty and sickness.

In line with the Charities Act, charitable purpose for Cambridgeshire Community Foundation therefore includes:

Understanding needs

Cambridgeshire is rightly perceived as an affluent county in overall terms. However, this hides the reality that there are communities that face severe disadvantage and deprivation. Understanding needs and issues in a community is the first step to being able to solve them. Our Vital Signs report helps us to take the pulse of our community, to highlight the county’s issues and opportunities for action. It looks at published statistics and facts gathered from local and national sources to identify the areas that need the most help.

Activities for achieving objectives

Cambridgeshire Community Foundation aims to encourage philanthropy Cambridgeshire, manage funds set up at the charity by donors, and award and monitor grants to local voluntary organisations that are effectively addressing local needs.

Cambridgeshire Community Foundation's principal target is to build funds, including endowed funds, to provide resources to tackle the needs identified in its research and the

9

advice it receives, whilst running the charity in the most efficient, equitable and sustainable way.

Through an ever-increasing number of funds managed on behalf of individual and corporate donors, local and national government and trusts, Cambridgeshire Community Foundation supports projects and initiatives that aim to improve the quality of life for local people who face disadvantages and tackle social issues.

Statement of public benefit

The Trustees have complied with the duty to have due regard to public benefit guidance published by the Charities Commission. The Trustees have considered the public benefit delivered by Cambridgeshire Community Foundation and have made the following response:

"Our aim is to improve the quality of life for people, predominantly residents of Cambridgeshire, and to target those that face disadvantage by making grants to support relevant, charitable or voluntary organisations which make a difference to their local communities. We ensure these organisations and their beneficiaries are appropriate and their aims meet our objectives. The groups we support deliver benefit to their communities in many different ways, they make no payment for our services and no relevant groups are excluded from our application procedures. Our primary focus is on Cambridgeshire; there are other members of UK Community Foundations providing similar services throughout the UK."

Review of activities

In carrying out its objectives, Cambridgeshire Community Foundation awards grants to local charitable organisations to support work they are undertaking for the benefit of the communities principally in Cambridgeshire. Donors make the grant making possible by supporting charitable funds held by the Foundation.

Throughout the year, Cambridgeshire Community Foundation was successful in developing relationships with both existing and new donors, and this led to further donations being received into existing funds, and new funds being established. The charity now holds over 50 different funds. A list of the live funds is on Cambridgeshire Community Foundation's website along with examples of many of the charitable projects the charity has been able to support.

10

Keyfigures Record total awarded in grants grants awarded 53 £4,610.812 live funds Range of grant sizes £70 £332,000 Percentage individual and organlsatlon grants by giant value Hun1$ 7.2°A Other 30 Funding by primary area of beneflt Petorborough 16/• Fenland 359/• Indlvldual8 7.2% East Cambs Countywlde 9.6•A South Camb8 Cambrldge clty 9.6% 11.8% oryanl•atlon• 918% Amount awarded for the top 3 supported causes Health. wellbeing and serious illness Volunteering Social connection for people experiencing chronic loneliness £626.905 £717.309 £511,827 11

Highlights of the year

July 2023 We became accredited as a LivingWage Employer
August 2023 Cambridge in Need launched
October 2023 S2 PartnershipCommunityFund launched
Our Annual Golf Dayraised over £3,500
Cambridgeshire & Peterborough Fund for Nature launched
November 2023 Dementia Carers Fund launched
February 2024 Learning& Skills Fund launched
Our 20thanniversary celebrations commenced with a dinner hosted by
our Vice-President
March 2024 Our first ever team entered the Cambridge Half Marathon, raising over
£1,100
Care Leavers Programme launched

12

Examples of awarded grants

Cambridge Community Arts’ Creative Fenland Project

The DCMS Know Your Neighbourhood Fund supported the expansion of the Creative Fenland project, which engages socially isolated people in Fenland through arts and crafts activities designed for mental wellbeing. Supported activities have included the initial community outreach, the development of a volunteer network and the delivery of creative courses and workshops. Course participants have reported feeling less isolated and with an improved sense of wellbeing. The project also helps to address a gap in available creative opportunities in Fenland.

Earth & Mind CIC’s nature-based interventions

Our Healthier Futures Fund, delivered in partnership with Cambridgeshire & Peterborough Integrated Health System, has awarded funding for Earth & Mind CIC’s staff and equipment costs to deliver nature-based interventions for high-frequency users of health services over 2 years, including the extension of existing gardening and woodworking sessions, plus wildlife habitat management and foraging courses.

The sessions have a variety of benefits for participants. They help participants establish a routine, socialise and give them a sense of purpose and accomplishment. Participants note how sessions help them to switch off from life’s stresses, take a mental break and relax in a peaceful environment. This contributes to their overall sense of wellbeing.

“I arrived feeling stressed and flustered – I wasn’t having a good morning – but I left feeling relaxed and replenished.” – Foraging taster session participant

13

Wintercomfort’s evenings for homeless and vulnerably housed women

Wintercomfort received grants from our Fund for Cambridgeshire and Cambscuisine Community Fund to help them hold twice weekly evenings of activities for homeless and vulnerably housed women. It is a new project that forms part of their vital women’s service.

Wintercomfort’s women’s support workers provide emotional and practical specialist support to women to help them recognise their own value, grow in self-confidence and resilience, and move beyond the vicious cycle of repeated homelessness.

Their newly introduced women’s evenings provide a safe space for women to come together, reducing isolation and helping to build connections with each other. They have also been an opportunity for the women’s project worker to build the trust needed to help the women receive further support.

The evenings involve numerous activities, ranging from craft sessions and movie nights to exercise sessions and cooking sessions. However, proving the most popular are pamper evenings. The women are always delighted to have an opportunity to relax under a face mask.

"I know it’s going to be a good day when I go to Wintercomfort.” – Service user

Frozen Light’s production for people with profound and multiple learning disabilities, their carers and companions.

Frozen Light is an innovative charity that tours multisensory theatre for audiences with profound and multiple learning disabilities (PMLD). They received grants from our D&J Lloyd Community First Fund and Olive and Jesse Palmer Fund to support the costs of bringing their new production, ‘The Bar at The Edge of Time’ to Cambridge Junction and The Key in Peterborough, allowing their audiences to experience an environment that they may ordinarily be excluded from accessing.

The high performer/audience ratio needed to make a theatre show relevant for most people with PMLD makes such shows unprofitable and reliant on subsidy, resulting in very limited opportunities to enjoy live theatre, despite the health and social benefits.

14

Access to the arts is a basic human right, and research suggests that, for people with PMLD, participation in the arts increases self-confidence and social skills, can help someone express themselves non-verbally, as well as developing community inclusion. Visibility in society can also help to change public attitudes, shifting perceptions about those with high support needs.

Frozen Light offers training to all venue staff and volunteers to build their understanding of how to warmly and safely welcome audiences with PMLD.

Carers report that coming to Frozen Light shows builds their confidence to accompany the person they support to experience more arts and culture in their community. Sharing artistic experiences brings people together and Frozen Light’s shows enable audiences to share emotional responses and make memories with their friends and loved ones.

"Fun, engaging, mature and enlightening. We had a fabulous experience centred around and adapted to our individual needs. Lots of laughter and feel-good vibes." – A viewer

IVAR Update

The Foundation is signed up to the Institute for Voluntary Action Research (IVAR)'s 8 commitments to being a flexible, open and trusting funder. As part of this commitment, we review our processes and seek to make the grant process accessible and proportionate, and to improve transparency. We publish application success rates and the top 10 reasons why applications were unsuccessful. We publish our grant-making online with 360Giving. In 2023, we published our entire year's grant-making and we are committed to doing that at least annually going forward.

The Foundation regularly seeks and reviews applicant feedback. 92% of negative feedback in 2022 was about project monitoring.

Therefore, from March 2023 we:

These changes have been very positively received by the organisations the Foundation works with, as well as being praised by the infrastructure bodies supporting them.

15

Financial policies

Overall financial performance

The Trustees were very pleased to see that income surpassed the budget set for the year. The increase in income allowed us to increase our grant making compared to 2022-23 by 59% and to surpass our target for the year of £4m.

Plans for the future

Fund-raising standards information CA 162A

Cambridgeshire Community Foundation raises some funds from the public. We are registered with the Fundraising Regulator and are committed to good fundraising practice:

16

Investment policy

Endowed funds are invested to produce a return to cover annual grant making, contribute to Cambridgeshire Community Foundation’s running costs, and to protect the capital against inflation.

External investment advisers (Rathbone Investment Management Limited and CCLA Investment Management Limited) manage the investment of the endowed funds.

The funds managed by Rathbone Investment Management Limited are within a portfolio that aims for a balance between income and capital growth and the investments are managed subject to medium level of risk. As such, the portfolio comprises UK company unit and investment trusts, including those investing in international markets, and some fixed interest securities.

The endowed funds held by CCLA are as a requirement of the Community First Endowment Match Challenge Programme.

Investment performance

The Total Return for the year to 31 March 2024 was 10.2% nett delivered by Rathbone Investment Management Limited. The Board are satisfied with the performance, noting the greater diversification, and hence lower risk of the portfolio. The Total Return for the COIF Charities Investment Fund was 12.2% nett.

The investment performance of Rathbone Investment Management and the CCLA Investment Management Limited managed COIF Charities Investment Fund is regularly reviewed, and the Trustees were satisfied with the results compared to overall comparators of 7.5% for the year.

Grant making policy and grant making approach

The criteria for grant programmes are set by the Trustees, but this process may include discussions with donors to consider any factors the donor would like to focus on with regard to, for example, targeted outcomes for the grant programme or beneficiary groups helped.

17

Applications for funding are assessed and those approved for funding by Cambridgeshire Community Foundation’s grant panels are discussed with donors to determine any awards.

Principal funding sources and fundraising strategy

As shown in Note 2, other income was from a variety of external sources including local companies, private donors, public sector bodies and other charitable entities.

Reserve fund policy

During the year, the Trustees reviewed the Reserves Policy and amended it accordingly to reflect the current volatility within the sector:

The parameters for the Designated Reserve are:

General Reserves as at 31 March 2024 are £404,064 (2022-23: £381,327) with anticipated expenditure in 2024-25 of £576,271.

18

Remuneration

The remuneration of staff is overseen by a new Remuneration Committee and reviewed by the HR & Governance Committee and Finance Committee against comparable market rates and affordability. A manageable uplift for staff and the CEO was agreed for 2024-25.

19

Structure, governance, and management

Constitution

Cambridgeshire Community Foundation is a charitable company limited by guarantee and was set up on 18 December 2003. In the event of the charity being wound up, the members are each required to contribute an amount not exceeding £1.

The Memorandum of Association which establishes the objects and powers of Cambridgeshire Community Foundation and the Articles of Association which govern procedures were issued on 21 April 2004 and updated in November 2009, July 2011, and October 2016.

Policies adopted for the induction and training of Trustees

Potential Trustees are selected for their skills and expertise in matters of relevance to the board such as marketing, finance, and legal matters. Potential Trustees are invited to meet members of the board to obtain an understanding of the operations and aims of Cambridgeshire Community Foundation.

Organisational structure and decision making

The board meets for four full board meetings a year and on further occasions to focus on particular aspects of the charity, such as donor development and grants. The Trustees are responsible for the strategic direction and policy of Cambridgeshire Community Foundation.

A scheme of delegation is in place and day-to-day responsibility for the delivery of operations rests with the Chief Executive Officer.

Subcommittees of the Board operate to focus on the core activities of HR & Governance, Finance and Risk, Donor Development & Marketing, Grant & Community Impact. Under the Terms of Reference for each subcommittee, the majority of members must be Trustees, and each subcommittee is chaired by a Trustee.

Risk management

The Trustees regularly conduct a review of the major risks to which Cambridgeshire Community Foundation is potentially exposed and ensure that appropriate systems and controls are in place to manage significant risks. The Trustees also track emerging risks by considering issues that are perceived to be potentially significant, but which may not be

20

fully understood yet. The risk register is regularly updated by each subcommittee and reviewed at main Board meetings and actions are taken to mitigate risk where appropriate. Key risks and actions to address them are as follows:

Financial matters are kept under close review and financial risk is considered to be relatively low. This is due in part to the Reserves Policy adopted by the Trustees, which means there is cover for operational costs and also funds to invest in the growth and development of Cambridgeshire Community Foundation. In addition, the agreed contribution the endowed funds make towards annual operating costs provides further stability. In order to ensure the financial risk remains low, the Trustees continue to examine ways to grow the level of endowment and the level of grant making to diversify further the income sources of the charity.

21

Trustees’ responsibilities statement

The Trustees (who are also directors of the Foundation for the purposes of the Companies Act) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions. These accounting records will also be sufficient to disclose with reasonable accuracy at any time the financial position of the charitable company and enable the Trustees to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for ensuring the maintenance and integrity of the corporate and financial information included on Cambridgeshire Community Foundation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

22

As far as that Trustee is aware, there is no relevant audit information of which the charitable company's auditors are unaware.

The Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any information needed by the charitable company's auditors in connection with preparing their report and to establish that the charitable company's auditors are aware of that information.

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Trustees on and signed on their behalf by: 22 Oct 2024

Stephen Catling (Tue, 22nd Oct 2024 17:25:50 BST)

S Catling, Chairman of Board of Trustees

23

Independent auditor’s report to the Members of Cambridgeshire Community Foundation

24

Opinion

We have audited the financial statements of Cambridgeshire Community Foundation (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions rela�ng to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going

25

concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other informa�on

The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other ma�ers prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Ma�ers on which we are required to report by excep�on

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

26

Responsibili�es of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibili�es for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material

misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

27

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and how it operates and considered the risk of the charity not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements. In relation to the charity this included financial reporting. The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on - the FRC's website at: https://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-

28

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Suzanne Goldsmith FCA (Senior Statutory Auditor) For and on behalf of Price Bailey LLP Statutory Auditor Tennyson House Cambridge Business Park Cambridge CB4 OWZ Date: 8 November 2024

29

Financial statements

For the year ended March 2024

30

CAMBRIDGESHIRE COMMUNITY FOUNDATION

(A Company Limited by Guarantee No 04998990) STATEMENT OF FINANCIAL ACTIVITES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Endowme Restricted Unrestric Total Total
nt Funds Funds ted Funds Funds
Note Funds
2024 2024 2024 2024 2023
£'000 £'000 £'000 £'000 £'000
Income & Endowments from:
Donations & 20,000 5,135,226 438,249 5,593,475 3,733,243
Legacies 2
Investments 3 189,541 120,011 150,722 460,274 295,040
Total Income 14 209,541 5,255,237 588,971 6,053,749 4,028,283
Expenditure on:
Raising funds 4 31,163 106,893 106,179 244,235 410,611
Charitable - 4,646,982 358,165 5,005,147 3,268,602
activities 5
Total Expenditure 31,163 4,753,875 464,344 5,249,382 3,672,213
Net(loss)/gain on 1,149,217 - 114,330 1,263,547 114,330
(201,764)
investments
Net income/ 1,327,595 501,362 238,957 2,067,914 147,306
(Expenditure)
Transfers between 14 (733,444) 534,664 198,780 - -
funds
Net movement in 594,151 1,036,026 437,737 2,067,914 147,306
funds

31

Reconciliation of
funds:
Total funds at 1
April 2023
Total funds at 31
March 2024		 13,101,903
1,588,196
616,053
15,306,152
15,158,846
13,696,054
2,624,222
1,053,790
17,374,066
15,306,152

Notes on pages 35-55 form part of these accounts.

32

CAMBRIDGESHIRE COMMUNITY FOUNDATION (A Company Limited by Guarantee No 04998990) BALANCE SHEET

AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
10
Investments
11
Current assets
Debtors
12
Short term deposits
Cash at bank and in hand
Creditors: amounts falling
due within one year
13
Net current assets
Net assets
Charity Funds
Endowment funds
14
Restricted funds
14
Designated funds
14
General funds
14
Total funds		 £
76,576
3,082,817
2,498,616		 2024
£
-
13,831,252		 £
294,396
1,429,357
1,870,776		 2023
£
36,655
12,854,690
13,831,252
3,542,814		 12,891,345
2,414,807
5,658,009
(2,115,195)		 3,594,529
(1,179,722)
17,374,066 15,306,152
13,696,054
2,624,222
649,726
404,064		 13,101,903
1,588,196
234,726
381,327
17,374,066 15,306,152

33

These accounts have been prepared in accordance with provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved on and signed on their behalf by: 22 Oct 2024

KOE, Stephen Catling (Tue, 22nd Oct ~~ABGRIFFITHS~~ 2024 17:25:50 BST)S Catling Alison Griffiths (Tue, 22nd Oct2024 18:20:23 BST)A B Griffiths Chairman Trustee

The notes on pages 35-55 form part of these financial statements.

34

CAMBRIDGESHIRE COMMUNITY FOUNDATION

(A Company Limited by Guarantee No 04998990) CASH FLOW STATEMENT

AS AT 31 MARCH 2024

Note
Cash flows from operating activities:
net cash provided by operating activities
15a
Cash flows from investing activities:
Dividends, interests, and rents from investments
Purchase of tangible fixed assets
Proceeds from the sale of investments
Purchase of investments
Net cash provided by investing activities
Net increase/(Decrease) in cash and cash equivalents
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
15b		 2024
2023
£
£
1,574,625
(248,469)
460,274
295,040
-
(36,688)
1,930,675
1,841,175
(1,684,275)
(1,706,667)
706,674
392,860
2,281,299
144,391
3,300,134
3,155,743
5,581,433
3,300,134

The notes on pages 35-55 form part of these financial statements.

35

CAMBRIDGESHIRE COMMUNITY FOUNDATION (A Company Limited by Guarantee No 04998990) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2019)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective 1 January 2019; and the Companies Act 2006. The accounts are presented in pound sterling which is the functional currency of the charity.

The accounts are presented in pound sterling which is the functional currency of the charity.

1.2 Company status

Cambridgeshire Community Foundation, a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. The members of the company are the Trustees named on page 2. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The Foundation is a registered charity. The registered office is given on page 2.

1.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds are unrestricted funds that have been set aside for particular purposes as set out in the notes to the financial statements.

Restricted funds are funds subject to specific restrictions imposed by the funding authorities and donors. These funds are not available for the Trustees to apply at their discretion. The purpose and use of the restricted funds is set out in the notes to the financial statements.

Endowment funds are expendable endowment funds that are invested to produce income to be used in accordance with the objects of the Foundation. Although the Trustees are able to convert all or part of the endowed funds into a restricted fund

36

which can then be used in accordance with the objects of Cambridgeshire Community Foundation, the intention is to hold the funds as endowments on a permanent basis. Any capital gains or losses arising on the investments form part of the endowed funds. Any investment management charges are charged against the endowed funds.

1.4 Income

All income is included in the Statement of Financial Activities when the company has entitlement to the funds, probability of receipt and the amount can be measured with sufficient reliability.

Donations received are recognised by the Foundation on being notified of the amounts and likely date of receipt. If there are conditions attached to the donation, then these are treated as restricted and only released once the conditions have been met.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio. Income from Government Securities is recognised when it is received; income accrued and not received on these securities at 31 March is included in the market value of the investments held.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the Foundation. Governance costs are those incurred in connection with administration of the Foundation and compliance with constitutional and statutory requirements.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Costs of raising funds include fund raising costs.

37

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All resources expended are inclusive of irrecoverable Value Added Tax.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Office equipment - 3 years straight line

During the year, the Trustees reviewed its Capitalisation Policy and agreed that it would only capitalise items over £1,000 and any current items costing less than this would be fully depreciated during the year.

1.7 Going concern

At the date of the Trustees’ Report, the Trustees aim to maintain or exceed the overall level of grant making achieved during 2023-24.

The designated fund allows for one-off costs that may arise in the growth of the charity.

The Trustees consider that there are no material uncertainties about the Foundation's ability to continue as a going concern. As such, they continue to adopt the going concern basis of accounts in the financial statements, which assumes the Foundation will continue in operational existence for the foreseeable future. The Trustees have given due consideration to the working capital and cash flow requirements of the Foundation for at least 12 months from the date of signature of the accounts.

1.8 Investments

Fixed asset investments are a form of financial instrument and are stated in the balance sheet at their market value. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

1.9 Pensions

The company operates defined contribution pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

38

1.10 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Foundation anticipates It will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.12 Taxation

The Foundation is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Foundation is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Value Added Tax is not recoverable and is included in the relevant charges for administration expenses.

1.13 Cash at Bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.14 Financial instruments

The Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their market value. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

39

1.15 Significant Accounting Estimates and Judgements

No significant judgements, accounting policies or estimates have been made by management in applying the charity’s accounting policies.

2 INCOME FROM DONATIONS AND GRANTS

Endowment Restricted Unrestricted Total
funds Funds Funds Funds
2024 2024 2024 2024
£ £ £ £
Donations 20,000 5,033,986 399,995 5,453,981
Events - 101,240 38,254 139,494
Voluntary 20,000 5,135,226 438,249 5,593,475
income
PRIOR YEAR
Endowment Restricted Unrestricted Total
funds Funds Funds Funds
2023 2023 2023 2023
£ £ £ £
Donations 843,781 2,397,086 203,620 3,444,487
Events -
 259,169 29,587 288,756
Voluntary
income		 843,781 2,656,255 233,207 3,733,243
INVESTMENT INCOME
Endowment
funds		 Restricted
Funds		 Unrestricted
Funds		 Total Funds
2024 2024 2024 2024
£ £ £ £
Investment income
189,541		 120,011 150,722 460,274
PRIOR YEAR
Endowment Restricted Unrestricted
funds Funds Funds Total Funds
2023 2023 2023 2023
£ £ £ £
Investment income
171,173		 101,741 22,126 295,040

3 INVESTMENT INCOME

40

4 RAISING FUNDS

Investment management
fees
Marketing
Other support costs		 Endowment
funds
Restricted
Funds
Unrestricted
funds
Total Funds
2024
2024
2024
2024
£
£
£
£
31,163
-
-
31,163
-
106,893
12,710
119,603
-
-
93,469
93,469
31,163
106,893
106,179
244,235

During the year, we administered the Feast on the Piece, an event to celebrate the coronation of King Charles lll.

PRIOR YEAR

PRIOR YEAR
Endowment Restricted
Unrestricted		 Total
funds Funds
funds		 Funds
2023 2023
2023		 2023
£ £
£		 £
Investment management
fees		 42,726 -
-		 42,726
Marketing -
277,767
13,194		 290,961
Other support costs -
76,924		 76,924
-
42,726 277,767
90,118		 410,611
5 CHARITABLE ACTIVITIES
Grantmaking
Support costs		 Direct costs Total
2024 2024 2024 2024
£ £ £ £
Grantmaking 4,610,812 357,812 36,523 5,005,147
PRIOR YEAR Grantmaking
Support costs		 Direct costs Total
2023 2023 2023 2023
£ £ £ £
Grantmaking 2,905,381
314,462
 48,759
 3,268,602

41

6 GRANTS

Number of grants
awarded
2024
Grants to institutions
302
Grants to individuals
810
1,112
PRIOR YEAR
Number of grants
awarded
2023
Grants to institutions
306
Grants to individuals
665
971
RECONCILIATION OF GRANTS PAYABLE:
Accrued at 1 April 2023
Grants awarded for the year
Grants paid during the year
Accrued at 31 March 2024
Payable as follows:
Grants payable <1yr - institutional		 Number of grants
awarded
2024
302
810		 Restricted
funds
Total
2024
2024
£
£
4,298,862
4,298,862
311,950
311,950
1,112 4,610,812
4,610,812
Number of grants
awarded
2023
306
665		 Restricted
funds
Total
2023
2023
£
£
2,668,314
2,668,314
237,067
237,067
971 2,905,381
2,905,381
2024
2023
£
£
1,049,431
1,292,384
4,610,812
2,905,381
(3,643,493)
(3,148,334)
2,016,750
1,049,431
2,016,750
1,049,431

All grants go to support charitable work, predominantly in Cambridgeshire.

42

Grants awarded in the year fall under the following
headings:
Adults facing life crisis
Theme:
Economic hardship
Theme:
Homelessness
Theme:
Isolation
Theme:
Family crisis
Theme:
Health
Theme:
Impact of crime and antisocial behaviour
Community development & engagement
Theme:
Community cohesion
Theme:
Enhancing local charities
Theme:
Community assets
Children, young people, and families
Theme:
Education & skills
Theme:
Social inclusion
Theme:
Health and wellbeing
Health
Theme:
Healthy living
Theme:
Mental health
The natural environment
Theme:
Improved green spaces
Theme:
Help limit climate change
Other
Small miscellaneous
amounts
Total		 2024
2023
£
£
484,999
469,638
112,208
82,930
208,160
162,448
90,257
45,314
364,743
269,761
136,697
17,034
983,867
128,872
51,491
20,467
562,570
750,701
112,491
128,016
734,142
342,283
28,430
209,246
61,230
196,921
169,383
151,911
136,875
4,250
16,470
178,429
103,959
4,610,812
2,905,381

43

7 SUPPORT COSTS

General office
Travel & other staff costs
Premises
Marketing
Subscription to National Network
Staff costs
National insurance
Pension cost
Depreciation
Governance
Auditors' remuneration
Staff costs
Legal & Professional fees
Trustees' expenses
PRIOR YEAR
General office
Subsistence
Premises
Marketing
Subscription to National Network
Staff costs
National insurance
Pension cost
Depreciation
Governance
Auditors' remuneration
Staff costs
Legal & Professional fees
Trustees' expenses		 Raising Funds
Charitable
activities
Total
2024
2024
2024
£
£
£
11,973
47,891
59,864
1,085
28,184
29,269
1,200
4,800
6,000
-
-
-
3,661
3,661
7,322
66,806
220,520
287,326
6,546
18,359
24,905
2,001
5,533
7,534
197
788
985
-
12,000
12,000
-
15,904
15,904
-
13
13
-
159
159
93,469
357,812
451,281
Raising Funds
Charitable
activities
Total
2023
2023
2023
£
£
£
5,279
21,117
26,396
1,163
27,682
28,845
1,200
4,800
6,000
-
9,248
9,248
2,864
2,863
5,727
58,422
202,705
261,127
5,949
16,727
22,676
1,796
4,542
6,338
251
1,002
1,253
-
11,875
11,875
-
11,203
11,203
-
-
-
698
698
76,924
314,462
391,386

44

8 NET INCOME/EXPENDITURE
This is stated after charging: 2024 2023
£ £
Depreciation of tangible fixed assets:
Owned by the charity 985 1,253
Auditors' remuneration 12,000 11,875
Pension contributions 8,017 6,730

During the year Trustees received no remuneration or benefits in kind; reimbursement of expenses for travel amounted to £159 (2023:£698)

9
STAFF COSTS
Staff costs were as follows:
Wages and salaries
Social security costs
Pension contributions		 2024
2023
£
£
301,407
270,852
26,059
23,763
8,017
6,730
335,483
301,345

Staff costs include 27 days (2023:19 days) of untaken leave.

The average monthly number of employees during the year was as follows:

2024 2023
No. No.
8 8

The total number of key management personnel is 1 (2023:1)

Total remuneration of the key management personnel of the Foundation for the year is £107,854 (2023:£102,513).

No of staff earning £80,001 - £90,000
No of staff earning £90,001 - £100,000		 2024
2023
No.
No.
1
1

Pension contributions in respect of this employee were £4,341(2023: £3,918).

There are no other staff earning over £60,000 (2023:nil).

45

10 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Disposals
Charge for the year
At 31 March 2023
Net book value
At 31 March 2024
At 31 March 2023		 Office
equipment
Restricted
Total
£
£
£
12,343
35,670
48,013
-
-
-
-
(35,670)
(35,670)
12,343
-
12,343
11,358
-
11,358
-
-
-
985
-
985
12,343
-
12,343
-
-
-
985
35,670
36,655

The restricted asset refers to a portrait of the Duke and Duchess of Cambridge, which is currently on loan to the National Portrait Gallery. Following discussion, this has been gifted to Cambridgeshire Community Foundation as an investment asset. The portrait was revalued at £150,000 as shown below.

46

11 FIXED ASSET INVESTMENTS FIXED ASSET INVESTMENTS
Restricted
investments		 Listed
investments		 Portfolio
cash		 Total
£ £ £ £
At 1 April 2023 - 12,462,615 392,075 12,854,690
Additions 35,670 1,648,605 -
1,684,275
Disposals - (1,895,005) - (1,895,005)
Cash Movement - (141,874) 65,618 (76,256)
Revaluations 114,330 1,149,218 -
1,263,548
At 31 March 2024 150,000 13,223,559 457,693 13,831,252

Listed investments at market value comprise:

UK Overseas 2024
£ £ £
UK Equities 7,781,426 4,616,212 12,397,638
Fixed interest 270,510 141,180 411,690
Alternatives 556,099 - 556,099
Cash 315,821 - 315,821
Total market value 8,923,856 4,757,392 13,681,248
Listed investments Portfolio cash Total
PRIOR YEAR £ £ £
At 1 April 2022 12,798,887 287,361 13,086,248
Additions 1,706,667 - 1,706,667
Disposals (1,841,175) - (1,841,175)
Cash Movement - 104,714 104,714
Revaluations (201,764) - (201,764)
At 31 March 2023 12,462,615 392,075 12,854,690
Investments at market value comprise:
UK Overseas 2023
£ £ £
UK Equities 6,753,141 4,196,686 10,949,827
Fixed Interest 475,105 - 475,105
Alternatives 1,037,683 - 1,037,683
Cash 392,075 - 392,075
Total market value 8,658,004 4,196,686 12,854,690

47

12 DEBTORS

DEBTORS
Trade debtors
Prepayments and accrued income		 2024
2023
£
£
26,154
253,807
50,422
40,589
76,576
294,396

13 CREDITORS: Amounts falling due within one year

CREDITORS: Amounts falling due within one year
Trade creditors
Deferred income
Accruals & other creditors
Grants accrued - institutional (see note 6)		 2024
2023
£
£
4,504
17,312
70,218
77,544
23,723
35,435
2,016,750
1,049,431
2,115,195
1,179,722

Deferred income relates to funds held on behalf of funders and which is accounted for in the year during which grants are made.

Deferred income reconciliation
Brought forward
Amounts deferred in year
Amounts released		 2024
2023
£
£
77,544
77,544
46,288
52,714
(53,614)
(52,714)
70,218
77,544

48

14 STATEMENT OF FUNDS

CURRENT YEAR
Designated
fund
General fund
Total
unrestricted
funds
Endowment
funds
Restricted
funds:
i
Thalia WB
Community
Fund
ii
Healthy
Fenland Fund
iii
Anglian Water
iv
Stay Well
v
Wryde Croft
Wind Farm
Community
Fund
vi
NHS Healthier
Futures Fund
vii
NW Anglia FT
VCSE Fund
viii Know Your
Neighbourhood
ix
Other
Total funds		 Brought
Forward
Income
Expenditure
Transfers
in/(out)
Gains/
(Losses)
Carried
Forward
£
£
£
£
£
£
234,726
-
-
415,000
-
649,726
381,327
588,971
(464,344)
(216,220)
114,330
404,064
616,053
588,971
(464,344)
198,780
114,330
1,053,790
13,101,903
209,541
(31,163) (733,444)
1,149,217 13,696,054
132,902
593,135
(477,286)
-
-
248,751
94,826
5,110
(99,936)
-
-
-
135,219
32,221
(73,109)
-
-
94,331
184,189
123,949
(276,702)
-
-
31,436
69,602
211,670
(85,843)
-
-
195,429
- 1,971,600
(1,018,301)
-
-
953,299
-
650,000
-
-
-
650,000

-
601,722
(1,186,833)
(16,111)
-
(601,222)
971,458
1,065,830
(1,535,865)
550,775
-
1,052,198
1,588,196
5,255,237
(4,753,875)
534,664
-
2,624,222
15,306,1526,053,749
(5,249,382)
- 1,263,547
17,374,066

Transfers between funds relate to amounts drawn down from expendable endowments.

49

The Foundation has a wide range of restricted funds, some as revenue funds for those with an endowment fund and others that have been set up by individual donors.

(i) The Thalia WB Community Fund offers grants of up to £100,000 for capital projects to improve the local environment.

(ii) The Healthy Fenland Fund offers grants up to £5,000 for projects seeking to improve the health and well-being of people living in Fenland.

(iii) Anglian Water have several funds covering a wide range of projects from protecting the environment from invasive species and enhancing wetland areas, to providing help to local communities.

(iv) Stay Well awards grants to those facing fuel poverty and Cultivate Cambs Fund is for grants that build resilient, caring and supportive communities in Cambridgeshire. Both of these funds are operated on behalf of Cambridgeshire County Council.

(v) We receive grants from several Wind Farms for community projects within several miles of the specific Wind Farm, and the Wryde Croft Wind Farm Community Fund is for those in Peterborough within 6km of the wind farm.

(vi) The Healthier Futures Fund is to deliver projects that will improve the health and wellbeing of local people.

(vii) The VCSE (Voluntary, Community and Social Enterprise) Fund offers financial support for projects that focus on the key priorities for the area

(viii) The Know Your Neighbourhood Fund operates in Fenland and supports initiatives to increase volunteering and reduce loneliness. Income is received after the grants have been awarded,

(vii) Other restricted funds offer grants to support projects working within the themes as detailed in Note 6.

SUMMARY OF
Unrestricted
funds
Endowment
funds
Restricted
funds		 FUNDS
Brought
Forward
Incoming
Resources
Resources
Expended
Transfers
in/(out)
Gains/
(Losses)
Carried
Forward
£
£
£
£
£
£
616,053
588,971
(464,344)
198,780
-
939,460
13,101,903
209,541
(31,163)
(733,444)
1,149,217
13,696,054
1,588,196
5,255,237
(4,753,875)
534,664
-
2,624,222
15,306,152
6,053,749
(5,249,382)
-
1,149,217
17,259,736

50

Endowment Funds

On an annual basis a percentage of the Endowment Fund held by Rathbones is released via transfers to be made available for grant making over the coming 12 months and to contribute to the operational costs of the Foundation in making those grants.

The endowed funds support projects under the following priorities:

Unrestricted Funds

Unrestricted funds include those that have been designated for future expenditure that is outside of the normal day to day costs of running the charity. This may include an upgrade to IT systems, office accommodation or increasing the staff numbers.

Transfers between funds relate to amounts drawn down from expendable endowments.

51

Brought Incoming Resources Transfers Gains/ Carried
PRIOR YEAR Forward Resources Expended in/(out) (Losses) Forward
£ £ £ £ £ £
Designated 158,226 - - 76,500 - 234,726
fund
General fund 430,011 255,333 (404,580) 100,563 - 381,327
Total 588,237 255,333 (404,580) 177,063 - 616,053
Unrestricted
Funds
Endowment 13,075,097 1,014,954 (42,726) (743,658) (201,764) 13,101,903
funds:
Restricted funds:
i Thalia WB 153,918 706,875 (727,891) - - 132,902
Community
Fund
ii Healthy Fenland 188,866 - (94,040) - - 94,826
Fund
iii Anglian Water 130,536 66,028 (61,345) - - 135,219
iv Stay Well 58,354 325,399 (199,564) - - 184,189
v Wryde Croft 141,249 - (71,647) - - 69,602
Wind Farm
Other 822,589 1,659,694 (2,077,420) 566,595 - 971,458
1,495,512 2,757,996 (3,231,907) 566,595 - 1,588,196
Total Funds 15,158,846 4,028,283 (3,679,213) - (201,764) 15,306,152

52

SUMMARY OF FUNDS
Brought Incoming Resources Transfers Gains/
Carried
Forward Resources Expended in/(out) (Losses) Forward
£ £ £ £ £ £
Unrestricted 588,237 255,333 (404,580) 177,063 -
616,053
funds
Endowment 13,075,097 1,014,954 (42,726) (743,658) (201,764) 13,101,903
funds
Restricted 1,495,512 2,757,996 (3,231,907) 566,595 -
1,588,196
funds
15,158,846 4,028,283 (3,679,213) - (201,764) 15,306,152

RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM 15A OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(Expenditure) for the year (as per Statement
of
Financial Activities)
Adjustments for:
Depreciation
(Gains)/Losses on investments
Dividends, interests and rents from investments
(Increase)/decrease in cash investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash generated from/ (used by) operating activities		 2024
2023
£
£
2,067,914
147,306
985
1,253
(1,263,547)
201,764
(460,274)
(295,040)
76,256
(98,154)
217,820
19,728
935,471
(225,326)
1,574,625
(248,469)
15B
NET DEBT RECONCILIATION
Short term deposits
Cash at bank and in hand
PRIOR YEAR
Short term deposits
Cash at bank and in hand		 at 1 Apr 23
Cashflows
at 31 Mar 24
1,429,357
1,653,460
3,082,817
1,870,776
627,840
2,498,616
3,300,133
2,281,300
5,581,433
at 1 Apr 22
Cashflows
at 31 Mar 23
918,892
510,465
1,429,357
2,243,411
(372,635)
1,870,776
3,162,303
137,830
3,300,133

53

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed Asset
Investment
s
Current
Assets
Creditors
due within
one year
PRIOR YEAR
Fixed Asset
Investment
s
Current
Assets
Creditors
due within
one year		 Endowment
funds
Restricted
funds
Unrestricted
funds
Total
funds
2024
2024
2024
2024
-
-
-
-
13,831,252
-
-
13,831,252
114,801
4,521,413
1,021,794
5,658,008
-
(2,016,750)
(98,445)
(2,115,195)
13,946,053
2,504,663
923,349
17,374,065
Endowment
Restricted
Unrestricted
Total
funds
funds
funds
funds
2023
2023
2023
2023
-
35,670
985
36,655
12,854,690
-
- 12,854,690
257,750
2,601,957
734,822
3,594,529
(10,537)
(1,049,431)
(119,754)
(1,179,722)
13,101,903
1,588,196
616,053
15,306,152

17 PENSION COMMITMENTS

The company contributes to personal pension plans of employees which are defined contributions pension schemes. The pension cost charge represents contributions payable by the company and amounted to £8,017(2023 - £6,730). Contributions outstanding at the balance sheet date were nil(2023 - £826).

18 RELATED PARTY TRANSACTIONS

There were no related party transactions to note. (2023:none)

54

19 OPERATING LEASE COMMITMENTS

The charity renewed a lease on 1 December 2022 with MGPH Ltd in respect of rent for the office building.

The lease expires on 16 October 2025 and allows for a six month notice clause within that period, free of any penalties.

55