REGISTERED COMPANY NUMBER: 04593407 (England and Wales)
REGISTERED CHARITY NUMBER: 1103784
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
Sibbalds Limited
Chartered Accountants and Business Advisers
Sixth Floor
Cavendish Building
1 Agard Street
Derby
Derbyshire
DE1 1DZ
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
|
Page |
Reference and Administrative Details |
1 |
Report of the Trustees |
2 to 4 |
Independent Examiner's Report |
5 |
Statement of Financial Activities |
6 |
Statement of Financial Position |
7 to 8 |
Notes to the Financial Statements |
9 to 15 |
Detailed Statement of Financial Activities |
16 |
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEESN Huston
J P Trigg
Ms J Winstanley
S M Wood (resigned 24.10.24)
REGISTERED OFFICEColony One Silk Street
Manchester
M4 6LZ
REGISTERED COMPANY NUMBER 04593407 (England and Wales)
REGISTERED CHARITY NUMBER 1103784
INDEPENDENT EXAMINERSibbalds Limited
Chartered Accountants and Business Advisers
Sixth Floor
Cavendish Building
1 Agard Street
Derby
Derbyshire
DE1 1DZ
Page 1
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2025.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The charity'sobjectivesare to helppersonsin need,particularlythe elderly,disabledor unemployed,by providing or
assistingintheprovisionofhomeimprovementsandrepairsinorderforsuchpersonstocontinueto live
independently in their homes.
Fundingis providedby several partnerdonorswho eitherdonateor contractwith us to providethe grantsliaison and
allocationtoournationalnetworkofhomeimprovementagencies(HIAs).TheHIAsthenprovidethegrant- funded
assistanceto vulnerablepeople in their local area. The services of the Trust are widely advertisedboth withinthe HIAs
sector and, where appropriate to members of the public to promote equality of access.
Ourmainbeneficiariesaremembersofthepublic,whoreceivefundingfromFoundationsIndependentLiving Trust
following a successful grant application.
Public benefit
We have taken the commission's public benefit guidance into account when making any decision it is relevant to.
ACHIEVEMENTS AND PERFORMANCE
TheBoardofTrusteescontinuestomeetitstwinobjectivesof(1)improvingthecapabilityandcapacityof Home
ImprovementAgenciestodeliverservicesforsomeofthemostvulnerablepeopleinsociety;and(2)to distribute
funds that agencies can use to pay for repairs and adaptations in the homes of their clients.
OurpartnershipwiththeGasSafeCharityhasnowreacheditstwelfthyear,continuingtoprovidefundingto Home
Improvement Agencies for gas safety works in the homes of vulnerable homeowners.
FILT continued to support training for the sector, including a range of e-training courses.
FINANCIAL REVIEW
Financial position
TheTrusteeshaveestablishedapolicywherebytheunrestrictedfundsnotcommittedorinvestedintangible fixed
assets,whicharethefreereservesoftheCharity,shouldbebetweenthreeandsixmonthsofgeneral (unrestricted)
operatingcosts. The Trustees considerthat this policy providessufficientfunds to cover management,governance and
administrationcosts to be able to continuethe activitiesof the Charityin the event of a significantdropin funding, or
business interruption.
The free reserves of the Charity are as follows:
administration costs to be able to continue the
business interruption.
The free reserves of the Charity are as follows: |
activities of |
the Charity in |
|
2025 |
2024 |
|
£ |
£ |
Unrestricted funds |
55,236 |
82,476 |
The level of reserves is monitored and reviewed quarterly by the Board of Trustees.
Investment policy and objectives
Apart from retaininga prudentamountin reserves each year, most of the charitablecompany'sfunds are spent in the
shortterm,so thereare few fundsavailablefor longterm investment.The Trusteescontinueto reviewthe charitable
company's investment policy periodically.
Page 2
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Risk management
The Board of Trustees, assisted by the ManagementTeam, is responsiblefor the managementof the risks faced by the
Trust.Risksareidentified,assessedandcontrolsestablishedthroughouttheyear.Aformalreviewofthe charitable
company'sriskmanagementprocessesis undertakenonanannualbasisandtheriskregisteris reviewedby Trustees
quarterly.
The key controls used by the Charity include:
-
Formal agendas for the Board of Trustees;
-
Detailed terms of reference for the Board of Trustees;
-
Comprehensive strategic planning, budgeting and management accounting;
-
Established organisational structure and lines of reporting;
-
Comprehensive policies to ensure that all insurance risks are covered;
-
Formal written policies;
-
Clear authorisation and approval levels;
-VettingproceduresarecarriedoutforadultstosafeguardthereputationoftheTrustandtominimisetherisk of
inappropriate persons being involved with the Trust in any way.
ThroughtheriskmanagementprocessesestablishedfortheTrust,theTrusteesaresatisfiedthatthemajor risks
identifiedhave been adequatelymitigatedwhere necessary.It is recognisedthat systems can onlyprovide reasonable
butnotabsoluteassurancethatmajorriskshavebeenadequatelysafeguardedagainstmaterialmismanagement or
loss.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Trustgoverningdocumentis itsMemorandumandArticlesof Associationincorporatedon18thNovember 2002,
as amended on 6th May 2004.
TheappointedandelectedTrusteesoftheCharityarelegallyresponsiblefortheoverallmanagementandcontrol of
theTrust.Theyensureeffectiveimplementationofpoliciesandapprovalofbudgetsandfinalisationofthe statutory
accounts and Trustees report for approval by the Annual Meeting of the Board of Trustees.
Recruitment and appointment of new trustees
Thecharitablecompany'strusteesareappointedattheAnnualMeetingoftheTrustonthebasisofthe Trust's
requirementsconcerningeligibility,competence,skillsandavailability.Followingtheretirementof a previous trustee
selective recruitmentof additionalTrustees will be begun this year. All new Trustees are inductedinto the workings of
the Charity including policy and operational procedures.
All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Payment of creditors
The company's current policy concerning the payment of trade creditors is to:
- To agree the terms of payment with suppliers when agreeing the terms of each transaction.
- Ensurethatsuppliersareawareofthetermsofpaymentbyinclusionofthetermsincontracts,-Payin accordance
with the company's contractual and legal obligations, and/or within 30 days.
Collective Enterprises Ltd
TheTrusteesaregratefulforthebenefitsinkindaffordedbyCollectiveEnterprisesLtd.Theseareintheform of
staffingsupportwhereallcostsarebornebyCollectiveEnterprisesLtd.Althoughthemajorityofthecostsrelate to
wages and travelexpenses,administrationexpensesof the charityare also coveredby this benefitin kind.During this
financial year the in kind benefit contributed to Foundations Independent Living Trust was £9,884.
Page 3
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directorsof FoundationsIndependentLiving Trust Limited for the purposesof company
law)areresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw, the
trusteeshaveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law).
Undercompanylawthetrusteesmustnotapprovethefinancialstatementsunlesstheyaresatisfiedthattheygive a
trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplication of
resources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
timethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancial statements
complywith the CompaniesAct 2006. They are also responsiblefor safeguardingthe assets of the charitable company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to independent examiner
Each person who was a Trustee at the time this report was approved confirms that:
- so far as he is aware, there is no relevant information of which the charity's independent examiner is unaware; and
-he hastakenallthestepsthathe oughtto havetakenas a Trusteeinorderto makehimselfawareof any relevant
information and to establish that the charity's independent examiner is aware of that information.
This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating
to small companies.
Approved by order of the board of trustees on 1 December 2025 and signed on its behalf by:
J P Trigg - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
Independent examiner's report to the trustees of Foundations Independent Living Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm
thatI am qualifiedto undertakethe examinationbecauseI am a member of the Instituteof CharteredAccountants in
England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jay Durow FCCA ACA BFP
Sibbalds Limited
Chartered Accountants and Business Advisers
Sixth Floor
Cavendish Building
1 Agard Street
Derby
Derbyshire
DE1 1DZ
23 December 2025
Page 5
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
-
Charitable activities
4
Independent living assistance
-
Investment income
3
187
Other income
-
Total
187
EXPENDITURE ON
Charitable activities
Independent living assistance
13,909
NET INCOME/(EXPENDITURE)
(13,722)
Transfers between funds
10
(13,518)
Net movement in funds
(27,240)
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
82,476
Prior year adjustment
7
-
As restated
82,476
TOTAL FUNDS CARRIED FORWARD
55,236 |
Restricted
funds
£
-
329,537
-
-
329,537
332,423
(2,886)
13,518
10,632
79,444
68,750
148,194
158,826 |
2025
Total
funds
as
£
-
329,537
187
-
329,724
346,332
(16,608)
-
(16,608)
161,920
68,750
230,670
214,062 |
2024
Total
funds
restated
£
1,177
303,131
304
177
304,789
457,208
(152,419)
-
(152,419)
245,589
137,500
383,089
230,670 |
|
|
|
|
The notes form part of these financial statements
Page 6
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2025
Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
8
1,012
Cash at bank
59,171
60,183
CREDITORS
Amounts falling due within one year
9
(4,947)
NET CURRENT ASSETS
55,236
TOTAL ASSETS LESS CURRENT LIABILITIES
55,236
NET ASSETS
55,236
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
159,283
11,654
170,937
(12,111)
158,826
158,826
158,826 |
2025
Total
funds
as
£
160,295
70,825
231,120
(17,058)
214,062
214,062
214,062
55,236
158,826
214,062 |
2024
Total
funds
restated
£
160,339
87,769
248,108
(17,438)
230,670
230,670
230,670
82,476
148,194
230,670 |
|
|
|
|
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2025.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2025
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon1December2025 and
were signed on its behalf by:
J P Trigg - Trustee
The notes form part of these financial statements
Page 8
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatementshave been preparedin accordancewith the CharitiesSORP (FRS 102) 'Accounting and
ReportingbyCharities:StatementofRecommendedPractice'applicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancialstatementshavebeen prepared
under the historical cost convention, as modified by the revaluation of certain assets.
Thefinancialstatementsarepreparedinsterling,whichisthefunctionalcurrencyofthecharity. Monetary
amounts in these financial statements are rounded to the nearest £.
ThecharitymeetsthedefinitionofapublicbenefitentityunderFRS102.Assetsandliabilitiesare initially
recognisedathistoricalcostortransactionvalueunlessotherwisestatedintherelevantaccounting policy
note(s).
Critical accounting judgements and key sources of estimation uncertainty
In the applicationof the charity'saccountingpolicies,the trusteesare requiredto make judgements, estimates
andassumptionsaboutthecarryingamountofassetsandliabilitiesthatarenotreadilyapparentfrom other
sources.Theestimatesandassociatedassumptionsarebasedonhistoricalexperienceandotherfactors that
are considered to be relevant. Actual results may differ from these estimates.
Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionsto accounting
estimatesarerecognisedintheperiodinwhichtheestimateisrevisedwheretherevisionaffectsonly that
period,orintheperiodoftherevisionandfutureperiodswheretherevisionaffectsbothcurrentand future
periods.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
Incomefromgovernmentandothergrants,whether‘capital’grantsor‘revenue’grants,isrecognised when
the charityhas entitlementto the funds,any performanceconditionsattachedto the grantshave been met, it
is probable that the income will be received, and the amount can be measured reliably and is not deferred.
Forlegacies,entitlementis takenastheearlierofthedateonwhicheither:thecharityis awarethat probate
has been granted,the estate has been finalisedand notificationhas been made by the executor(s)to the Trust
thatadistributionwillbemade,orwhenadistributionisreceivedfromtheestate.Receiptofalegacy, in
whole or in part, is only considered probable when the
amountcanbemeasuredreliably,andthecharityhasbeennotifiedoftheexecutor’sintentiontomake a
distribution.Wherelegacieshavebeennotifiedtothecharity,orthecharityisawareofthegranting of
probate,andthecriteriaforincomerecognitionhavenotbeenmet,thenthelegacyisatreatedas a
contingent asset and disclosed if material.
Incomereceivedinadvanceoftheprovisionofspecifiedservicesitisdeferreduntilthecriteriafor income
recognition is met.
Interest receivable
Intereston funds held on depositis includedwhen receivableand the amountcan be measuredreliablyby the
charity; this is normally upon notification of the interest paid or payable by the Bank.
continued...
Page 9
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES - continued
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytradediscount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Creditorsandprovisionsare recognisedwhere the charityhas a presentobligationresultingfrom a past event
thatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountduetosettlethe obligation
canbemeasuredorestimatedreliably.Creditorsandprovisionsarenormallyrecognisedattheir settlement
amount after allowing for any trade discounts due.
2. DONATIONS AND LEGACIES
2. |
DONATIONS AND LEGACIES |
|
|
|
|
2025 |
2024 |
|
|
|
as restated |
|
|
£ |
£ |
|
Donations and legacies |
- |
1,177 |
3. |
INVESTMENT INCOME |
|
|
|
|
2025 |
2024 |
|
|
|
as restated |
|
|
£ |
£ |
|
Bank interest receivable |
187 |
304 |
continued...
Page 10
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
4. INCOME FROM CHARITABLE ACTIVITIES
Activity
Management fee income
Independent living assistance
Grants
Independent living assistance
Grants received, included in the above, are as follows:
Gas Safe |
2025
a
£
29,537
300,000
329,537
2025
a
£
300,000 |
2024
s restated
£
28,131
275,000
303,131
2024
s restated
£
275,000 |
|
|
|
5. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norforthe year
ended 31 March 2024.
Trustees' expenses
Trustees' expenses
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,177
Charitable activities
Independent living assistance
-
Investment income
304
Other income
177
Total
1,658
EXPENDITURE ON
Charitable activities
Independent living assistance
43,689
NET INCOME/(EXPENDITURE)
(42,031)
Transfers between funds
9,542 |
2025
as
£
400
Restricted
funds
as
£
-
303,131
-
-
303,131
413,519
(110,388)
(9,542) |
2024
restated
£
400
Total
funds
restated
£
1,177
303,131
304
177
304,789
457,208
(152,419)
- |
|
|
|
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 11
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£
Net movement in funds
(32,489)
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
114,965
Prior year adjustment
-
As restated
114,965
TOTAL FUNDS CARRIED FORWARD
82,476 |
Restricted
funds
as
£
(119,930)
130,624
137,500
268,124
148,194 |
Total
funds
restated
£
(152,419)
245,589
137,500
383,089
230,670 |
|
|
|
7. PRIOR YEAR ADJUSTMENT
Thecomparativeshavebeenrestatedtoadjustforgrantincomerecognisedintheincorrectperiod according
to the recognition criteria of the Charity SORP.
This has resultedin a £68,750reductionto grantincomewithinthe statementof financialactivities,a £68,750
increase to other debtors in the balance sheet and a £137,500 increase to restricted funds brought forward.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income |
2025
a
£
84,283
-
76,012
160,295 |
2024
s restated
£
77,189
193
82,957
160,339 |
|
|
|
continued...
Page 12
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Accruals and deferred income |
2025
as
£
-
1,545
15,513
17,058 |
2024
restated
£
8,952
46
8,440
17,438 |
|
|
|
10. MOVEMENT IN FUNDS
At 1.4.24
£
Unrestricted funds
General fund
82,476
Restricted funds
Gas Safe
65,404
Northern Gas Network
14,040
79,444
TOTAL FUNDS
161,920
Net movement in funds, included in the above are a
Unrestricted funds
General fund
Restricted funds
Gas Safe
Northern Gas Network
TOTAL FUNDS |
Prior
year
adjustment
£
-
68,750
-
68,750
68,750
s follows: |
Net
movement
in funds
£
(13,722)
(500)
(2,386)
(2,886)
(16,608)
Incoming
resources
£
187
329,537
-
329,537
329,724 |
Transfers
between
At
funds
31.3.25
£
£
(13,518)
55,236
13,518
147,172
-
11,654
13,518
158,826
-
214,062
Resources
Movement
expended
in funds
£
£
(13,909)
(13,722)
(330,037)
(500)
(2,386)
(2,386)
(332,423)
(2,886)
(346,332)
(16,608) |
|
|
|
|
continued...
Page 13
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Gas Safe
Northern Gas Network
Warm and Adapted
Homes
TOTAL FUNDS |
At 1.4.23
£
114,965
11,302
93,896
25,426
130,624
245,589 |
Prior
year
adjustment
£
-
137,500
-
-
137,500
137,500 |
Net
movement
in funds
£
(42,031)
(14,648)
(79,856)
(15,884)
(110,388)
(152,419) |
Transfers
between
funds
£
9,542
-
-
(9,542)
(9,542)
- |
At
31.3.24
£
82,476
134,154
14,040
- |
|
|
|
|
|
148,194 |
|
|
|
|
|
230,670 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Gas Safe
Northern Gas Network
Warm and Adapted Homes
TOTAL FUNDS |
Incoming
resources
£
1,658
303,131
-
-
303,131
304,789 |
Resources
Movement
expended
in funds
£
£
(43,689)
(42,031)
(317,779)
(14,648)
(79,856)
(79,856)
(15,884)
(15,884)
(413,519)
(110,388)
(457,208)
(152,419) |
Resources
Movement
expended
in funds
£
£
(43,689)
(42,031)
(317,779)
(14,648)
(79,856)
(79,856)
(15,884)
(15,884)
(413,519)
(110,388)
(457,208)
(152,419) |
|
|
|
(110,388) |
|
|
|
(152,419) |
The purpose of the restricted funds are as follows:
Unrestricted funds
Thesefundsareheldformeetingtheobjectivesofthecharityandtoprovidereservesforfuture activities.
Subject to charity legislation, they are free from all restrictions on their use.
Gas Safe
A projectin conjunctionwith Gas Safe Charityto tacklethe risks presentedby boilersand othergas appliances
in vulnerable households. The temporary cash deficit was transferred from the general fund.
Northern Gas Network
ProvidingfundingtoHomeImprovementAgenciestocarryoutgassafetyworksinthehomeof vulnerable
homeowners.
continued...
Page 14
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
10. MOVEMENT IN FUNDS - continued
Warm and Adapted Homes
A pilot project in St Helens with the British Red Cross to help support vulnerable adults in their own homes.
11. RELATED PARTY DISCLOSURES
Duringtheyear,managementandconsultancyfeesof£14,066(2024:£28,131)werepaidtoAstralPSLtd, a
company in which Jonathan Trigg (Trustee) and Paul Smith (Chief Executive) were directors in the year.
Duringthe year,managementand consultancyfees of £15,472(2024:£Nil)were paidto Collective Enterprises
Ltd, a company in which Jonathan Trigg (Trustee) and Paul Smith (Chief Executive) were directors in the year.
Page 15
FOUNDATIONS INDEPENDENT LIVING TRUST
LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
INCOME AND ENDOWMENTS
Donations and legacies
Donations and legacies
Investment income
Bank interest receivable
Charitable activities
Management fee income
Grants
Other income
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Trustees' expenses
Beneficiary payments
Campaign costs
Management fees
Research support
Bad debts
Consultancy fees
Subscriptions
Computer costs
General expenses
Support costs
Finance
Bank charges
Governance costs
Accountancy and legal fees
Total resources expended
Net expenditure |
2025
as
£
-
187
29,537
300,000
329,537
-
329,724
400
302,886
-
29,537
-
-
4,000
2,614
64
208
339,709
60
6,563
346,332
(16,608) |
2024
restated
£
1,177
304
28,131
275,000
303,131
177
304,789
400
392,990
11,800
28,131
10,000
2,398
4,525
2,812
-
-
453,056
60
4,092
457,208
(152,419) |
|
|
|
This page does not form part of the statutory financial statements
Page 16