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← The Share Foundation

2024-03-31-accounts

Annual Report & Financial Statements FOR THE YEAR ENDED 31 MARCH 2024 sharefound inspiring young people

charitable objectives are: tom to advance the education of such children and young people in handling their to relieve poverty amongst children and financial situation in order to encourage with Christian principles and without young people in need in accordance hood, through improved ability to handle ‘self-sufficiency as they grow into adult reference to race, creed or nationality, their own economic circumstances and to with a view to improving the condition help them lift themselves and others, in of life of those for whom funding is the communities in which they live, out provided. of poverty.

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4
Trustees’ Annual Report,
The Directors’ Report
28
Independent Auditors’ Report
34
of Financial Activities
35
Ba la ee Sheet
36
Statement of Cash Flows
37
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Inform: Adult transfer:
S MyJISA, MyCTF - Care Leavers: S
3&e e . from Departmentfor EducationInject funds: £2.8m 13,894 Identify need:accountsneeding Bilateral LA agreements FindCTF for adult care leavers; CTF recoery - for general c. £110m† to date CTF c. £4.1m Recovery: Ss&
FEE e ive [ | Nn rebalancinInter-generational aa Myé
ital2E3 Starter capitate9 stl Open Grow \Y DeliverFi \ rf.S —oie3a3
accounts & life Skills - Identify need + Contribute Inform
for young people - Inject funds : ;a ~ Adult transfer
in care ——
Learn:
Invest: Stepladder Plus:
Registered Contribute: over 1000 young
Contact for £4.03m from people† earning
43,767 accounts LA donors £889kt to date
Tru stees An nu al Report At the heart of The Share Foundation’s mission * = as of the year ended 31/3/24
Incorporating The Directors’ Report is a passion for inter-generational rebalancing † = total to date
and our purpose is to deliver hope. We work with
for the Year Ended 31 March 2024
government, local authorities, volunteers and
. philanthropists to make this a reality for young The Share Foundation operates the Junior ISA/ it on a philanthropically-funded incentivised learn-
Theth. e p rocessgraphic byshows. Ww h i C h Sohelpspeople farleto asstart youngthroughoutwiththroughout . peopletheantheunderstandingUnitedinUnited care areKingdom.Kinga concerned,of how chil. it - schemes are designed to provide young people Childon behalfild TrustTrust of theFund Department schemes for youngfor Education. people in These care fundingualing achievementbasis for this):(thehe GGovernmentthein this impact way ofhasis recognisingnot a major yet providing impactindividin -
In te [- gene fa t I 0)Nn a | dren and young people find themselves in these with. hope for the future. delivering hope through attitudinalaan transformation..
rebalancing is turned difficult circumstances. This may be due to family The cost to central Government is not high: in Meanwhile our general recovery campaign
. .
into breakdownor a family tragedy, and it's often made - 2023/24 it was just £3.2m, including the initial for provides the most comprehensive and free unclaimed, adult-owned Child Trust Funds
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(86%) and the administrative cost of running the

There are two major initiatives that enable this: starter capital accounts (Child Trust Funds and Junior ISAs) for young people in care and the progressive element of the massive Child Trust Fund scheme. The graphic segments are linked to the detail of this annual report.

be a better appreciation that all people are born into our world with the same mix of potential to achieve great things as adults, but there are still

is so important and this often leads to a fractured education, attendance at pupil referral units and

the country due to the unavailability of local resi-

been in care for at least one year across the United

trusts and other organisations, to raise substantial additional contributions for the accounts, thereby

able to demonstrate for both the ‘in care’ schemes and our general CTF recovery programme are providing a strong research platform for prioritis-

potential of these young people, and by enabling

15-17 year-olds in preparation for their move into ; - ;

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S / therefore place a real emphasis on ensuring that adult care leavers do receive f =
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have completed steps on the programme, averaging four each out of the

Ensuring that young adults do claim the resources that are rightfully theirs

www. sharefound.org/ctfconference.

be ready for implementation for 13-17 year-olds across the United

search facility ~~findCTF.sharefound.org~~ on the ‘Find My CTF’ Government Gateway website. Because over two thirds of accounts linked via findCTF -

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In conclusion, it’s been a very active year at The Share Foundation. Here are
more details of our work, following the same pattern as in previous years.
£‘000
£ ‘000 £ ‘000 £ ‘000 £ ‘000 £ ‘000 £‘000
23/24 23/24 23/24 23/24 23/24 23/24 23/24
2,779 2,600 4,032 174 11 25 425 40 40 7,050
452 430 452 430
2,770 2,455 4,061 397 7,228 6,467
129 51 474 450 38 46 641
56 13 56 13
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2,000
1,500
1,000
500
0
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Junior ISAs were introduced in 2012 with a much
smaller Government initial injection - just £200.
However, The Share Foundation, which has
run the scheme for young people in care for the
Department for Education since inception, is
responsible for raising additional donations for the
accounts of all young people who were aged up to
18 in 2012 (and since)— so birth dates of holders
of these accounts date back to 1994. There is no
split of responsibility for the accounts, all of which
remain in the oversight of The Share Foundation 31,467 2,274 33,741 41,535
until the young person either reaches 18 or leaves
care at a younger age. 4,681 61 4,742 1,854
The table across shows the number of active
accounts across the United Kingdom for young 3,313 138 3,451 521
people currently in care, aged between 1 and 18.
Young people are continually moving in and out 1,824 1,833 436
of care and the total number of accounts opened
and administered over these past twelve years is 41,285 2,482 43,767 10,605 54,372
much larger than these totals suggest.
who need to have an account. To do this, we take
a regular snapshot from each of the 212 local
authorities across the United Kingdom for all
their children who have been in care for at least We then draw £200 down from the Department for Education for each new account to be
one year. We compare this register to accounts opened, and we open new accounts at either The Children’s ISA or NatWest. In February
already opened (including Child Trust Funds), and all new names on the
register are listed to be allocated a new account. Meanwhile all minors no
longer in care have their accounts transferred to their newly-responsible family. would now be over £278), but this was declined.
In the past year we’ve listed
185,641 and 137,041 respectively.
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We then draw £200 down from the Department for Education for each new account to be opened, and we open new accounts at either The Children’s ISA or NatWest. In February would now be over £278), but this was declined.

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|||||| |---|---|---|---|---| |£‘000|£‘000|£‘000|£‘000|£‘000| |1,101|989|1,006|627|416| |2,286|ase|1,274|1,048|827| |644|552|652|327|257| |4,031|3,933|2,932|2,002|1,500| |2,779|2,600|2,438|2,552|2,687| |145%|151%|120.2%|58.8%|74.5%|

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We work hard to raise further contributions forthe communication programme for local authorities aver the past year. The Local Authority Liaison accounts of young people in care from a combiManager leads our team of three Local Authority nation of individuals, local authorities and other Care and Liaison Administrators, who support The total donated in 2023/2024 was Corporate donors— as shown above. and eastern England, and Wales, Northern Ireland London and the south-east of England, Scotland and the west of England. The virtual seminars : 4 1 ) 7 ) that we arranged are all available on The Share VA VA Foundation’s YouTube channel via our website

page www.sharefound.org/local-authorityseminars.

on the previous year and over 45% higher than the overall total of Government initial Junior ISA starter payments over the same period. Our Donor Liaison Team, on average, distribute around £100,000 per weekto JISA and CTF accounts for young people in care. The Team is also actively support the donations at source programme, in working with local authorities and trusts to

Our costs relating to fundraising operations and our Charity governance, are covered from our

All accounts are held in stockmarket-based investments and therefore benefit from growth in investment values over the period that they are held. This, together with the additional contributions — which vary widely across the country — enables young people in many local initial £200 contributed for opening Junior ISAs. authorities to see significant growth from the

London Borough of Ealing
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=		 London Borough of Lambeth
London Borough ofHavering
ThurrockBoroughCouncil		 134
3,072
2
8
77
3
2
105
2,764
4
4
3,049		 arrangements for account provision and
investment selection over the past two
years. Transfers of Junior ISAs to NatWest
Significantchanges havebeenmadeinour		 f G;3 Z
Za		 =
London Borough of Lewisham 146
2,761
5
3		 are now completed and these were followed /
London Borough ofSutton
KentCountyCouncil		 67
2,686
6
6
680
7
2,589
9		 by a rationalisation of Child Trust Funds
where we are the registered contact, also to
NatWest.Thishas enabledamoreefficient		 j
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Solihull Metropolitan Borough Council 271
2,450
8
5		 automated interface and better service for =
Coventry City Council 281
2,370
10
9		 young people. aa
London Borough of Camden 63
2,150
10
12		 The new banking arrangements that have
Powys
County
Council
wy
v		 115
1,808
11
7		 -
beenputinplacewithCAFBankhavesignif
icantly improved our banking and donation		 ee
London Borough of Barnet
HertfordshireCountyCouncil
CityandCountyofSwansea Council		 350
1,725
12
13
255
1,715
13
14
122
1,544
14
11		 arrangements. ’ L “=
Cambridgeshire County Council
Bedford Borough Council
WestBerkshire Council
London BoroughofWalthamForest
Newport City Council
EssexCountyCouncil
Telfordand WrekinCouncil
London Borough of Enfield		 65
15
15
168
16
16
161
1,463
17
450
1,302
18
17
223
1,302
108
20
18
182
1,258
21
108
1,232
22
1,499
4,490
Newentry
19
Newentry
1,295
19
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Westminster City Council
MedwayCouncil
EastSussexCounty Council		 31
1,223
23
27
172
24
262
1,160
25
25
1,195
Newentry		 e
i		 2 7
Gloucestershire CountyCouncil 325
26
1,089
Newentry		 7
Z		 hy
Wokingham District Council 35
1,080
27
28		 ~
3		 ‘
Doncaster Metropolitan Borough Council
Milton KeynesCouncil		 116
28
1,063
30
1,079
New entry
129
29		 3
E		 -
SurreyCountyCouncil 474
1,041
30
Newentry		 =
a		 ’

Stepladder Plus is a bespoke incentivised learning programme developed programme content is adaptable to each young person’s learning needs and, as all content is online, can be studied at any time convenient for the and operated specifically for young people in care and care leavers. The young person.

Literacy – using up to Numeracy – using Financial Capability (1) date functional skills up to date functional - Practice and assessment content from Skills skills content from Skills with costs of living using Forward. This assesses Forward. This assesses Skills Forward software the young person’s reading the young person’s maths and Young Money content.

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Planning for the Future Financial Capability (2) Securing future educa-
– 250-500 words submit - – Managing My Money, tion, employment or
ted by the young person Share Radio's broadcast training - working with a
and assessed by The version of the Open Univer- mentor such as a teacher,
Share Foundation, describ - sity Business School's leaving care worker etc
ing their aspirations for the
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Over one thousand young people in care from 145 local authorities have now completed

We provide regular statements of individual accounts overseen by The Share Foundation for each young person in care through their local authorities, together with quarterly summary reports for the Department for Education and the devolved national administrations. Since we do not hold contact details for individual young people in care, we rely on local authorities to keep young people and their carers fully supplied with this information.

ing programme ( sharefound.org/stepladder nce as a result of The -of-achievement ). Share Foundation’s work is therefore already

MyJISA.sharefound.org and MyCTF.sharefound.org to help them claim their accounts

therefore, very substantial, but its real contribution is in transforming these young adults’ prospects

in providing attitudinal transformation for young people from disadvantaged backgrounds, Its value is in encouraging participation on a continuing

It is, of course, very important to do all we can to ensure that adult care leavers successfully claim their accounts. However, because The Share Foundation’s role ends at a young person’s 18th birthday, we are reliant on local authorities to link the accounts. Also, because our role as registered

arrangements to ensure that their accounts are thus far signed 54 of these agreements, and the

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The other vitally important part of our work is our recovery programme for the Child Trust Fund scheme generally, where our focus is also on achieving successful adult transfer of these accounts.

the account providers’ trade association), meaning

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www.sharefound.org/ctfconference
-
access to our free
1,570,000
183,000
1,291,000
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Our purpose is to ensure that as many young possiblepeople from reach disadvantaged adulthood with backgrounds resources from as their investment account, whether it be a Child - Trust Fund or Junior ISA, and the life skills a needed to to achieve their potential. their potential. In the preceding sections of our review, we have set out the priority we we attach to successful adult transfer of accounts and our continuing focus on wider implementation of our our Stepladder Plus incentivised learning programme. «Inwethe aim tolonger term:reduce9Inwethe aim tolonger term:reduce9wethe aim tolonger term:reduce9the aim tolonger term:reduce9 aim tolonger term:reduce9 tolonger term:reduce9longer term:reduce9reduce99 significantly the the percent - - age of unclaimed, adult-owned Child Trust to the most disadvantaged young people Fund accounts, particularly those belonging * wewho hope are unaware to encourage of their Governmentgood fortune; to level - up the values of Junior ISAs for young people in care to compare with those of Child Trust Funds and to plan for the re-introduction of a more targeted starter capital account for the most disadvantaged; and . . . -

~~=~~ There is a team co-ordination event each fort - Trust Fund or Junior ISA, and the life skills = night and our organisation continues with a needed to to achieve their potential. their potential. regional focus to its work. This helps us to build In the preceding sections of our review, relationships with local authorities and devolved we have set out the priority we we attach to administrations, and raise the profile of our work. successful adult transfer of accounts and our In November 2023, our Director of Operations, continuing focus on wider implementation moved to a two-day week working schedule. We of our our Stepladder Plus incentivised learning now have an Operations Manager, supporting programme. * Social media, with particular reference to the Local Authority Liaison, Child Trust Fund our search facility‘lity ~~findCTF.~~ fi ~~sharefound.org;~~ RFinanceecoveryManagerand d StepladdersupportingSteplacder Teams,theTeams,Donationsand and aTeam.new «Inwethe aim tolonger term:reduce9Inwethe aim tolonger term:reduce9wethe aim tolonger term:reduce9the aim tolonger term:reduce9 aim tolonger term:reduce9 tolonger term:reduce9longer term:reduce9reduce99 significantly the the percent - -

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Department for Education contract: covering - - schemes, including establishment of the systems

Loss of Department for Education Contract Continued focus on service and performance,
Loss of operational integrity Careful and regular reconciliation, after
Reputational issues Continued focus on the needs of young people in
care
Fraud
IT Disruption Use of professional support companies to monitor
Loss of funding from the Gavin Oldham
No 4 Trust for the general account
Inadequate assessment ratings
Management includes separate Operations and
Key person risk
‘Force Majeure’ disruption, such as Covid-19
Department for Education and local authorities

Stepladder Plus: voluntary donations to the Charity

CTF Recovery: A campaign assisting young people

General:

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campaign (since these are not covered under the 2021-22 has considerably strengthened the

Department for Education payments for

Junior ISAs: A separate trust status account

Voluntary Junior ISA and Child Trust Fund

Contributions: voluntary donations for young

tions were treated as income of the Charity. The Trustees have determined that the revised treat ment accords more closely with the requirements of the SORP, excluding these donations from income in the accounts. The prior year figures have been restated. Reserves Policy As at 31 March 2024 The Share Foundation

cial statements, Management and staff remuneration reviews are . . . followingundertakenpersonalin the developmentsecond quarterreviews,of each withyear © that concern basis unless it is inappropriate to presume prepare the charitythe financial will continuestatements in businesson the going recommendations being made by the Chair for Trustees’ approval.Planning both short term and longer term is set Theaccountingaccuracy Trusteesat anyrecordsare timeresponsiblethat the disclose financialfor keepingwithpositionreasonableproperof the out in the annual review. charitable company and enable them to ensure

They are also responsible for safeguarding the assets of the charitable company and hence for

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of Association were established when it was incor
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Statement of Trustees’ Responsibilities

relevant audit information and to establish that

funded the Company’s current activities, including those by the Department for Education, while . eo . . a consideration is given to ways in which additional fundunds maybeb raised.ised. Th The current t levellevel of of unre - stricted reserves is sufficient to cover the Compa - ny’s charitable activities, including those funded by the Department for Education, for 20 months in the event of the loss of all funding sources (due in the main to the exceptional donation from the Gavin

Consideration of potential new trustees is under

receive remuneration but are able to claim for

charitable Company and of the incoming resources and application of resources, including the income

information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of

behalf

Structure & Governance

G D R Oldham

those standards are further described in the Audi-

inconsistencies or apparent material misstate-

pendent of the charitable company in accordance

Our responsibilities and the responsibilities of the trustees with respect to going concern are

company’s state of affairs as at 31 March 2024 and of its incoming resources and application of

for the year then ended;

concluded that the trustees’ use of the going concern basis of accounting in the preparation of

tion. The other information comprises the infor

mation included in the annual report, other than

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

Our responsibility is to read the other informa-

to events or conditions that, individually or collecfinancial statements or our knowledge obtained in tively, may cast significant doubt on the charitable the courseofthe audit or otherwise appears to be company’s ability to continue as a going concern rial

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concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease oper-

of the charitable company and its environment

We have nothing to report in respect of the

We have been appointed as auditors under the Companies Act 2006 and report in accordance

to fraud or error, and to issue an auditor’s report

a high level of assurance, but is not a guarantee that

and are considered material if, individually or in the

Irregularities, including fraud, are instances of

outlined above, to detect material misstatements

determine is necessary to enable the preparation

tees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charita-

~~-~~ the completion stage of the audit, the engagement partner's review included ensuring that the This company’s members, as a body, in accordance report is made solely to the charitable } ® - team had approached their work with appropriate with Chapter 3 of Part 16 of the Companies Act ‘ 7 professional scepticism and thus the capacity to identify - 2006. Our audit work has been undertaken so ra \ tions non-compliance with laws and regula that we might state to the charitable company’s e j . . Thereandare fraud.inherent limitations in the audit proce - to them in an auditor’s report and for no other members those matters we are required to state > NiQOS‘ dures described above and the further removed purpose. To the fullest extent permitted by law, Pr non-compliance the with laws and regulations is from - anyone other than the charitable company and we do not accept or assume responsibility to ry @ y, any 44 t 2 , cial events and transactions reflected in the finan the charitable company’s members and trustees fi x 4% | |» ast

rial misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, ae , forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at: description www.frc.org.uk/auditorsresponsibilities. forms part of our auditor’s report.This

Andrew Watkinson Auditor)

Saffery LLP

StJohn’s Court

Date: 2 October 2024 of section 1212 of the Companies Act 2006 Saffery LLP is eligible to act as an auditor in terms

e e
e		 e
e		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~		 Restricted
Total
Note
Unrestricted
Restricted
Total
Unrestricted
funds (as
2023 (as
funds
funds
2024
funds
restated)
restated)
As at 31 March 2024
~~a~~
Fixed assets
Tangible assets 5 - - - - - -
(Including Income and Expenditure Account) Current assets
for the year ended 31 March 2024 for the year ended 31 March 2024 for the year ended 31 March 2024 Debtors 6 159,138 6,045 165,183 139,445 5,702 145,147
Restricted Total funds short term deposits
Cash atbank and		 7 889993 471,588 ~—«1,361,581 1,034,780 733,708 ~—«*1,768,488
Note Unrestricted Restricted Total funds Unrestricted funds (as 2023 (as Total current assets 1,049,131 -477,633——«1,526,764 1,174,225 739,410 «1,913,635
funds funds 2024 funds restated) restated)
Income from
~~mij.~~		 ~~mij.~~ £
~~mij.~~		 £
~~mij.~~		 £ £ £ £ tors: falli
Creditors:
falingdue
within one year		 8 (11,448) (254,921) (266,369) (27,099) (221,679) (248,778)
Donations and legacies
Charitable activities		 2a
2b		 100,010
-		 70,000
452,443		 170,010
452,443		 -
-		 464,552
430,186		 464,552
430,186		 current liabilities
Total assets less		 1,037,683 -222,712-—«1,260,395 1,147,126 $17,731 ‘1,664,857
Investment Income 48,729 20,071 68,800 15,959 - 15,959 Net assets 1,037,683 222,712 1,260,395 1,147,126 517,731 1,664,857
Total 148,739 542,514 691,253 15,959 894,738 910,697 Funds of the Charity
Expenditure on Unrestricted funds 13 1,037,683 - 1,037,683 1,147,126 - 1,147,126
Raisingfunds 3a (34,742) - (34,742) (19,706) - (19,706) ~~Restricted funds~~ 11-13 - 222,712 222,712 - 517,731 517,731
Charitable activities 3b (94,263) (966,710) (1,060,973) (50,290) (643,149) (693,439) Total 1,037,683 222,712 1,260,395 1,147,126 517,731 1,664,857
Total (129,005) (966,710) (1,095,715) (69,996) (643,149) (713,145)
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act
Net income/(expenditure)
**Net movement in funds **		 12
12		 19,734
1o734		 (424,196)
424196)		 (404,462)
(004,462)		 (54,037)
(54037)		 251,589
251,589		 197,552
197.552		 2006 relating to small companies.
The notesonpages37to47form		 part of
these		 financial statements
**Transfer between funds ** 12 (129,177) 129,177 : (19,088) 19,088 : Approved by the board of Directors on 1 October 2024 and signed on their behalf by
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Reconciliation of funds
13
Totalfunds broughtforward		 1,147,126 517,731 1,664,857 1,220,251 247,054 1,467,305 aqa—
Total funds carried forward 1,037,683 222,712 1,260,395 1,147,126 517,731 1,664,857 G D R Oldham

Approved by the board of Directors on 1 October 2024 and signed on their behalf by ppproveu uy wie wuaru Ur owecwurs uli e Gewuuen 2x aqa — G D R Oldham Director

for the year ended 31 March 2024

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2023
2024 Total funds
Total funds (as restated)
Net cash provided by (used in) operating activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at 31 March 2023
Cash and cash equivalents at 31 March 2024 1,361,581 1,768,488
2023
2024 Total funds
Total funds (as restated)
from operating activities
Adjustments for:
(20,036) 1,012,468
Increase in creditors
Net cash (used in)/provided by operating activities (406,907) 1,292,769
2023
2024 Total funds
Total funds (as restated)
Analysis of cash and cash equivalents
Total cash and cash equivalents 1,361,581 1,768,488
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1. Accounting policies 

  -

Assets and liabilities are initially recognised at historical cost or transaction value unless

charity’s operations and in order to comply

not have a share capital and has no income

1.2 Incoming resources personnel, payroll and governance costs

result in the transfer of funds to a third party and the amount due to settle the obligation

itors and provisions are normally recognised

charity receives the funds as a custodian for

1.18 Funds accounting

When the incoming resources have related

1.9 Governance costs

1.15 Financial instruments

restricted funds of the charity is included in

charged against income on a straight line

of the Department for Education service contract are not capitalised as the economic 

  - contribution pension scheme and to personal

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2. Income from: 4. Analysis of support costs
Restricted Total funds Unrestricted Restricted Total
Unrestricted Restricted Total funds Unrestricted funds (as 2023 (as funds funds 2024
funds funds 2024 funds restated) restated)
Support costs split per fund:
a) Donations and legacies
100,010 70,000 170,010 - 464,552 464,552 Raising funds 13,050 - 13,050
100,010 70,000 170,010 - 464,552 464,552
b) Charitable activities 34,742 - 34,742
Contractual income
from the Department - 452,443 452,443 - 430,186 430,186 Charitable activities
for Education
Computer costs 1,320 27,487 28,807
Legal and professional 204 1,811 2,015
3. Expenditure on: Equipment - 1,435 1,435
Restricted Total funds
Unrestricted Restricted Total funds Unrestricted funds (as 2023 (as
funds funds 2024 funds restated) restated)
a) Raising funds Water cooler - 303 303
13,050 - 13,050 400 - 400
34,742 - 34,742 19,706 - 19,706
b) Charitable activities
4,081 76,185 80,266 - 34,622 34,622 90,182 493,425 583,607
Total support costs per fund 124,924 493,425 618,349
94,263 966,710 1,060,973 50,290 643,149 693,439
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Analysis of support costs (continued) 6. Debtors
Unrestricted Restricted Total 2024 2023
funds funds 2023
Debtors 128,260 127,261
Support costs split per fund:
Raising funds Accrued income 31,254 4,847
Online fundraising 400 - 400
165,183 145,147
19,706 - 19,706
Charitable activities
7. Cash at bank and short term deposits
Consultancy 25,000 5,250 30,250 2024 2023
Equipment - 1,443 1,443
Insurance 224 2,014 2,238
278,822 450,000
Water cooler - 202 202
81 1
8. Creditors: amounts falling due within one year
2023
Legal and professional 13 4,853 4,866 2024 (as restated)
50,290 478,927 529,217
Total support costs per fund 69,996 478,927 548,923
266,369 248,778
equipment 9. Staff costs and numbers
2024 2023
Cost
1,327
Depreciation
1,327
Net book values
- 466,818 425,066
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4. Analysis of support costs (continued)
Unrestricted Restricted Total
funds funds 2023
Support costs split per fund:
Raising funds
Online fundraising 400 - 400
19,706 - 19,706
Charitable activities
Consultancy 25,000 5,250 30,250
Equipment - 1,443 1,443
Insurance 224 2,014 2,238
Water cooler - 202 202
Legal and professional 13 4,853 4,866
50,290 478,927 529,217
Total support costs per fund 69,996 478,927 548,923

Staff costs and numbers (continued)

Employees who were engaged in each of the following activities:

2024 2023
Operational in respect to charitable activities 12 11
13 12

Restricted funds (continued)

Restricted funds (continued)
Department Child Trust
Stepladder for Education Fund Total
programme Contract Recovery 2023
Balance at 1 April 2022 (as restated)
Income
Closing funds at 31 March 2023
(as restated)		 490,547 27,184 - 517,731

10. Auditors’ remuneration

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2024 2023
Non-audit services:
5,000 5,000
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12. Movements on funds

11. Restricted funds

Restricted funds
Department Child
Stepladder for Education Trust Fund Total
programme Contract Recovery 2024
Balance at 1 April 2023 (as restated)
Income 25,071 452,443 65,000 542,514
Closing funds at 31 March 2024 218,518 4,194 - 222,712

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Unrestricted Restricted Total
funds funds funds
Balance at 1 April 2023 (as restated) 1,147,126 517,731 1,664,857
Incoming resources
Closing funds at 31 March 2024 1,037,683 222,712 1,260,395
Unrestricted Restricted Total
funds funds funds
Balance at 1 April 2022 (as restated) 1,220,251 247,054 1,467,305
Incoming resources
Closing funds at 31 March 2023 (as restated) 1,147,126 517,731 1,664,857
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13. Analysis of net assets between funds

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assets assets Total
2024 2024 2024
Unrestricted funds - 1,037,683 1,037,683
- 222,712 222,712
Total funds - 1,260,395 1,260,395
assets assets
2023 2023 Total
(as restated) (as restated) 2023
Unrestricted funds - 1,147,126 1,147,126
- 517,731 517,731
Total funds - 1,664,857 1,664,857
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18. Voluntary change in accounting policy

14. Financial commitments

2024 2023
Payments due:
Under one year 11,750 7,500

15. Payments to trustees and related parties

to these donations

16. Analysis of changes in net debt

17. Funds received as agent

For the year ended 31 March 2023 (restricted funds) 2023 (restricted funds)
As previously
reported Adjustment As restated
Income from
Donations and legacies
Expenditure on
Charitable activities
Changes to the balance sheet
Current liabilities
Creditors
Funds of the Charity
653,745 (136,014) 517,731
For the year ended 31 March 2022 (restricted funds)
As previously
reported Adjustment As restated
Funds of the Charity

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Charity Registration Number

Company Registration Number

Date of Incorporation

Start of Financial Year

End of Financial Year

Directors

Auditors

Bankers

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