Charity Registration No. 01109453
Company Registration No. 05369725 (England and Wales)
SUFFOLK
Community
Foundation
Suffolk Community Foundation
Trustees, Report and Financial Statements
For the Year Ended
30June 2024

Suffolk Community Foundation
Legal and Administrative Information
Trustees
George Vestey DL
Peter Newnham (to 12 March 20241
Jonathan Agar DL
Susan Gull
Jordan Holder
Anna Hughes {to 16 July 20241
William Kendall DL
Jane Millar
Neil Walmslev
Terrence Ward Ito 12, March 20241
Gareth Wilson
Sarah Zins
Helen Taylor {from 12 March 2024)
th
th
th
th
Louise Long Ifrom 12 March 20241
Chief Executive
th
Melanie Craig (to 17 July 2024}
th
Anna Hughes (from 17 July 20241
Company Secretary
Sarah Cossey {from 24" July 2023, to 4" October 20241
Charity number
01109453
Company number
05369725
Registered office
The Old Barns
Peninsula Business Centre
Wherstead
Ipswich
IP9 2BB
Auditors
Ensors Accountants LLP
Connexions
159 Princes Street
Ipswich
Ipi ioj

Suffolk Community Foundation
Legal and Administrative Information
Bankers
Barclays Bank plc
21 Cornhill
Bury St Edmunds
IP33 IDY
Lloyds Bank plc
Cornhill North
Ipswich
IPI IDG
Solicitors
Birketts LLP
Providence House
141- 145 Princes Street
Ipswich
Ipi ioj
Investment advisors
Barratt & Cooke
5 Opie Street
Norwich
NRI 3DW
CCLA
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Rathbones
North Win& City House
126-130 Hills Road
Cambridge
CB2 IRE
Evelyn Partners
45 Gresham Street
London
EC2V 78G

Suffolk Community Foundation
Contents
Chairman's statement
Trustees, report
6-14
Statement of trustees, responsibilities
15
Independent auditors, report
16-19
Statement of financial activities
20
Summary income and expenditure account
21
Balance sheet
22
Cash flow statement
23
Notes to the accounts
24-44

Suffolk Comrnunity Foundation
Trustees. Report
For the year ended 30 June 2024
l. Chairman's Statement
It gives me great pleasure to present Suffolk Community Foundation'sTrustees' Report and Financial Statements
for the year ended 30 June 2024.
The past year has brought further challenges as public sector funding has again decreased while the need for
support has continued to rise. To help address this, we have focussed on helping the most vulnerable members
of our community by su pporting charities which are finding sustainable and innovative ways to alleviate poverty,
improve health and wellbeing and tackle inequalities. We are proud that we were able to award £3.4m to 777
charities and community groups during the year, in turn cementing our position as the largest independent grant
maker in Suffolk. As always, none of this would have been possible without the kindness and generosity of our
donors, and we remain incredibly grateful for their ongoing support.
In addition to our existing initiatives, the last 12 months have seen the launch of the Sizewell C Community Fund.
The scheme will run for the next decade and is making £23m available to projects taking place in the East Suffolk
Council area that reduce the impact of, or build on the opportunities created by, the construction of Sizewell C.
We are pleased that we have been chosen to manage the fund and use our skills and expertise to ensure this
significant pot of money reaches the areas where it will make the biggest difference.
The past year has also seen internal change at the Foundation as we have welcomed Helen Taylor and Louise
Long to our Board of Trustees. At the same time, Anna Hughes withdrew from her role as trustee to become
Interim Chief Executive after Melanie Craigstepped down. We also said goodbye to outgoing trustees Terry Ward
and Peter Newnham. On behalf of the Board, I would like to thank them all for their enormous contribution
throughout their time with the Foundation and wish them well for the future.
The coming 12 months will mark a significant milestone in our history as we celebrate our 20th anniversary year.
I would like to take this opportunity to express my sincere gratitude to everyone associated with Suffolk
Community Foundation- including our staff, volunteers, trustees, donors and patrons-for their hard work and
commitment overthis time. I look forward to continuingto work closely withthem all and making an even greater
difference to the people of Suffolk as we start to write the next chapter of the Foundation's story.
Signed on 24 October 2024
George Vestey DL
Chairman

Suffolk Community Foundation
Trustees, Report
For the year ended 30 June 2024
The trustees present their report and financial statements forthe year ended 30 June 2024. TheTrustees' Report
a150 incorporates the requirement under Company Law of a Directors, Report. The financial statements have
been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the
char￿5 Articles of Association, The Companies Act 2006 and Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the U K and Republic of Ireland IFR5102).
2. Structure. governance and management
Suffolk Community Foundation is a company limited by guarantee (Company no. 053697251 incorporated on
18 February 2005 and a registered charity {Charity No. 01109453) governed by its Memorandum and Articles of
Association dated 18 January 2005, and special resolutions dated Ilth September 2009, 28th November 2011
and 8th December 2020. The directors of the charitable company are its trustees for the purposes of charity
law and throughout this report are referred to as the trustees.
On 13 April 2015, the Charity Commission for England and Wales authorised a Linking Direction between Suffolk
Community Foundation and the Fonnereau Road Health Foundation Fund IFRHFFI such that the FRHFF
Endowment became a linked charity to the Foundation. The trustees hold the capital of this fund in the form of
a permanent endowment with the income generated by this fund used by the trustees at their discretion in
furthering the objects of the charity as documented in the Trust Deed dated 9 March 2015.
Currently there are 11 trustees who meet formally at quarterly Board of Trustees Meetings112 during the
financial year). strategic aims are agreed by the trustees at these meetings. The Board appoints three
committees, Income Development; Grants & Community Impact: and Operations. These committees are
responsible for more detailed oversight of strategy and operational activities within their terms of reference.
The board and each committee have terms of reference and authority delegated to them, including the power
to recruit additional non-trustee members who bring further expertise that the committees may feel beneficial
or ne￿ssary. Committees are also able to form working groups for specific projects or events.
Members of the Board who served during the year and as members of committees are as follows:
George Ve5tey DL
Peter Newnham
Chair of Trustees. Income Development Committee Chair
Vice Chair, Grants & Community Impact Committee. Income Development
th
Committee, Operations Committee {resigned 12 March 20241
Income Development Committee
Operations Committee Chair
Grants & Community Impact Committee
Board of Trustees
Grants & Community Impact Committee
Operations Committee
th
Grants & Community Impact Committee (resigned 12 March 2024)
Income Development Committee
th
Grants & Community Impact Committee (resigned 16 July 2024}
Operations Committee
th
Income Development Committee {appointed 12 March 20241
Sizewell C Community Fund Panel lappointed 12" March 2024)
Jonathan Agar DL
Susan Gull
Jordan Holder
William Kendall DL
Jane Millar
Neil Walmsley
Terrence Ward
Sarah Zins
Anna Hughes
Gareth Wilson DL
Louise Long
Helen Taylor

Suffolk Comrnunity Foundation
Trustees. Report
For the year ended 30 June 2024
Louise joined Birketts in 2011 and is a Partner who heads up the Private Client Advisory Team. She is based in
the Ipswich office and joins the Foundation as a trustee in preparation for the departure of Jonathan Agar, who
will be stepping down. We are delighted that she will continue the long-standing relationship the Foundation
has with Birketts. Louise specialises in the administration of estates with extensive experience of dealing with
complex family and tax issues and the preparation of wills, trusts and inheritance tax planning.
Helen joins us as a trustee and will chair the Sizewell C Community Fund Awards Panel. Helen has had a long
career in health a nd social care. Originally qualifying as a nurse, she is currently the Chair of East Suffolk & North
Essex NHS Foundation Trust IESNEFT) since 2019. ESNEFT is one of the largest NHS Trusts in the East of England
and runs Ipswich and Colchester Hospitals, plus six community hospitals and community health seNices. Helen
has lived in Suffolk for 20 years and brings senior level experience in social care, charities and health inequalities,
as well as a detailed understanding of good governance in a publicly accountable setting.
The day-to-day management of the Foundation is delegated to the chief executive. At the year end June 2024,
the Foundation employed 14 members of staff, (12.8 full time equivalentl12023: 18 members of staff: 14.9 full
time equivalent) who undertake its core functions - grantmaking, income development, finance, administration,
marketing, communications and event management. The Foundation is also supported by volunteers who sit on
grant panels, using their local knowledge to inform and strengthen the decision-making process. The Board of
Trustees would like to record its appreciation for their help and dedication.
The Foundation is a quality accredited member of UK Community Foundations, the membership organisation
that supports and promotes the 47 community foundations operating across the UK. With combined
endowment funds under investment in excess of £700m, UK community foundations are now collectivety the
fourth largest grant maker across the UK.
The Foundation greatly appreciate5 and values the continued support and guidance from its patrons, vice patrons
and honorary life patron who act as ambassadors throughout the County. We extend our gratitude and best
wishes to Peter Newnham and Terrence Ward who retired from the Board in March 2024 and thank them for
their outstanding, significant contributions during their time as trustees.
3. Trustee recruitment, induction, and training
As set out in the Memorandum and Articles of Association, new trustees are appointed by the Board of
Trustees and formally elected at the following annual general meeting. New trustees are identified through
nominations by other trustees, advertisements. recommendations from respected individuals and engagement
with the Foundation through professional networks. Prior to appointment, potential trustee5 are reviewed by
a nominations committee made up of existing trustees and shortlisted candidates are put to the Board for
approval. Trustees are appointed with a ra nge of identified skills and experience to support sound governance
and strong progress towards the charivs mission and aims. Any newly appointed trustee serves for a three-
year term and is eligible for re-election for two fu rther terms of three years, and annually thereafter if there
are exceptional circumstances to retain the trustee in the short term.
New trustees receive an information pack including the Memorandum and Articles of Association, accounts.
business plan. role description, Charity Commission guidelines and are asked to complete a declaration of
eligibility. I ntroductory briefings with the chief executive and key staff are provided, and all trustees are invrted
to Serve on at least one committee. Trustees have access to a variety of ongoing training courses through
contacts with local law firms and online training in area5 such as IT and digital security.

Suffolk Community Foundation
Trustees. Report
For the year ended 30 June 2024
4. Objectives and activities
The trustees confirm that they have referred to the Charity Commission's guidance on public benefrt when
reviewing the Foundation's aims and objectives, in plannlng future activities and settin8 the grantmaking policy
for the year.
Suffolk Community Foundation's charitable objects for the public benefit, as defined in our Memorandum and
Articles of A550ciation are:
The promotion of any charitable purpose for the benefit of the community in the County of Suffolk and its
immediate neighbourhood including but not limited to the advancement of education, the protection of good
health, both mental and physical, and the relief of poverty and sickness: and other exclusively charitable
purposes in the United Kingdom and elsewhere which are in the opinion of the trustees beneficial to the
community with a preference for those in the area of benefit.
The Foundation further endorses its charitable purposes for the public benefit through its vision, mission,
purpose and values, together with its grantmaking policy.
Our vision
To make Suffolk a better place for all
Our mission
To change local lives by connecting causes that matter with people who care
Our purpose
To reach those in most need by combining robust evidence with local service delivery
We do this by:
Researching, analysing, identifying, and understanding the needs of the County
Being creative, energetic, em pathetic, and open to new ideas and initiatives
Seeking out and supporting key frontline organisations which can play a role in addressing social need and
inequality
Securin& managing, and distributing resources and funds to support frontline charities and community
organisations with their overheads and project costs
Developing and nurturing partnerships where we can work together to make a difference
Showcasing local charities and community organisations to demonstrate their impact and achievements, therebv
inspiring continued efforts to address local need
Believing in and empowering local people and their knowledge to improve their communities
Our values
Be compassionate and fair in our purpose
Be professional and independent in all our relationships
Be open and clear in our communications

Suffolk Community Foundation
Trustees, Report
For the year ended 30 June 2024
5. Significant activities
The Foundation established a grantmaking policy to further its objects for the public benefit. It aims to provide
a bridge between people who care about their community and the wide range of local charities. voluntary
organi5ations and community groups which help relieve disadvantage and deprivation across Suffolk.
The Foundation's grantmaking capability is supported by its abilityto develop private and corporate philanthropy
as well as its proficiency in providing grantmaking services for the public sector and other charitable trusts.
The Foundation offers a flexible Se￿iCe designed to help donors achieve their philanthropic objectives, whatever
their area of interest or level of giving.
Donations can be given for total disbursement over a specific time-period Iflow-through funds} or invested to
provide income for 5UStainable grantmaking into the future lendowment funds which utilise annual investment
returns for sustainable grantmakingl.
Donations can be pooled in general funds to address specific local needs or deposited into individual funds that
are managed to meet the donorfs charitable ambitions.
All funds:
concentrate on funding for defined and measurable objectives
give preference to smaller grants for local organisations which takle social need, and
use priorities that are determined by local needs analysis, including the Foundation's Hidden Needs
Report 2020
As at the year end, the Foundation managed 242 individual funds on behalf of its donors, of which 109 are
endowed. The combined endowment value of these invested funds increased to £21.7m.
6. Resources spent on charitable activities
During the past year. the Foundation managed grantmaking forthese 242 individual funds12023- 2081 on behalf
of individuals, families, businesses, other trusts and foundations and public sector organisations. Diligent,
effective, and impactful grantmaking involves rnany operational processes from understanding and developing
a donorfs or funderfs giving ambitions; designing the grant programme; promoting it; assessing applications;
awarding grants and monf(oring the impact post-award.
The accumulated knowledge that the Foundation gathers through the delivery of the associated grants
programme, particularly regarding the opportunities and challenges that voluntary and charitable organisations
face, including the financial conditions they are working with and the effective practices they em ploy to tackle
local need, is of great value. As a result, the Foundation is increasingly spending more time promoting the sector,
its attributes, and qualities, to help strengthen the sectorfs importance and relevance across Suffolk.
In addition to delivering grant programmes, resource is also employed to support the voluntary and charitable
sertor by providing advice on how to access funding on a one-to-one basis. through workshop5, and increasingly
by using on-line webinars. The Foundation is also called upon and supports organisations facing difficultie5,
typically funding pressures through increased service demand or funding shortfalls, by offering grant investment
advice and other services. including signposting to other funding sources.

Suffolk Community Foundation
Trustee5' Report
For the year ended 30 June 2024
Wtth state services being pared back and at the same time facing increasing demand, people are seeking
increased support from the voluntary, charitable, faith and social enterprise settor (VCFSEI. Many of our VCFSE
organisations are financially very small and yet play a vital role in their communities. Our sector is under
significant strain.
The cost of the Foundation's grant activity is £402,29612023: £322,673) {Note 7}. The Foundation's charitsble
activity is broader than its direct grantmaking activity and includes knowledge sharin& producing evidence.
associated research and awareness of local issues and collaborative working. This community development
activity is intensive, complex in nature and often involves multi-partnership working across private, public, and
voluntary sectors. The financial contribution to this charitable activity over the past year eq uates to £331.895
{2023- £245,8481- note 7. Commitment to research and educational activity helps raise awareness of social need
and has become a cornerstone of Foundation activity. over the past year £100,57512023: £117,485) note 7 of
cha ritable giving was attributed to this area.
7. Quality Accreditation
AII 47 UK community foundations undertake a rigorous independent quality accreditation assessment. Re-
accreditation requires a community foundation to pass the core standards to maintain membership to the UK
community foundation network. The assessment tracks developmental progress against the previous quality
accreditation assessments and highlights areas for further development and improvement. Typically,
accreditation is undertaken every three years. The latest accreditation reported in last yearfs Trustees, Report
still stands and as with previous accreditations, Suffolk Community Foundation performed very well. Scoring
against the fourteen core standards demonstrates this with 5 good passes, 8 excellent passes and, l exemplar
pass. Re-accreditation IQA61 is scheduled to take place at the end of 2024/early 2025 with a revamped and
simplified programme which separates compliance from organisaitaonal development.
8. Performance and achievements and future plans
Over the past financial year. the Foundation awarded £3.4m in 881 grants to 777 charfcies and communitv
groups. The average grant award was £3,830, with grant award values ranging from £50 to £126k.
Since 2005, the Foundation has awarded 10.787 grants with a combined value of £44m.
In particular, the trustees would like to note..
Sizewell C Community Fund
The Fund was launched early in 2024, and is designed to support those local communities impacted by the
proposed construction works. The Foundation has recruited two new members of staff, designed the relevant
processes, held a number of local workshops to explain the fund and established an independent grants panel,
chaired by a Foundation trustee, Helen Taylor. The first applications to the Fund were assessed by the panel
after the year end with awards expected in November 2024.
Surviving Winter annual appeal
The appeal, which has been running since 2010, invites people who do not need their winter fuel payment to
donate it for the benefit of someone who does. Last winter, individuals and businesses across Suffolk generously
donated £155k to the appeal.
io

Suffolk Community Foundation
Trustees, Report
For the year ended 30 June 2024
Surviving Winter was a year-round programme to both help lower income households with fuel payments and
give people support and advice to improve their financial resilience. This was a different approach from previous
years, in that, via our partners Citizens Advice, we:
Enabled 940 people to access others services to help them maximise there income, as well as other
support they may not have been aware of
Focused on those who were not receiving additional support but still struggling to meet energy costs
Promoted an online application process.
Professional Advisors and the commercial sector
Our work with professional advisors has deepened and extended, both through two successful networking
events and one-to-one meetings. Professional advisors continue to be important and valuable sources of expert
advice and income forthe Foundation.
Relationships with the commercial sector have also strengthened, obtaining corporate sponsorship for our
supporter events and publications as well as the establishment of new corporate funds helping businesses to
direct their charitable giving towards their areas of interest and to those who need it most.
Work with the public sector
The Cancer Community Partnership Fund launched in September 2023, funded by the Suffolk & North East Essex
Integrated Care Board ISNEE ICBI. The £300,000 fund aims to increase the proportion of early-stage cancer
diagnoses (Stages l & 2). The Foundation manages grant applications from Suffolk, while partner organisations
in Essex handle applications for that region.
In partnership with Suffolk County Council, The Digital Inclusion Fund launched in October 2023. The Digital
Inclusion Fund has been developed to reduce digital poverty and its effects across target demographics within
Suffolk. The Fund has held three panels to date, awarding £145,124.
The Serious Violence Duty Fund was a one-time allocation of £150,000 from the Home Office, aimed at
preventing and reducing serious violence. its purpose was to enhance the lrfe outcomes of young people and
promote safer communities. Through this fund. 15 interventions were successfully supported.
Our Annual Review and High Sherifffs Awards Ceremony was held jointly in March, attended by nearly 300
guests. This was a valuable opportunity to introduce new members of staff and trustees, thank our donors,
supporters and partners and showcase the inspirational impactful work of the local charities.
Building for the Future
In 2025, we will be celebrating our 20th anniversary. To mark this special milestone, we launched a new fund
called Suffolk Futures to support organisations who work with 16-25 year olds. helping them address issues with
mental health, education, housing and employment. Guests were invited to join us at an event at Great Thurlow
Hall in June, to receive thanks for their ongoing support and hear about our plans forthis new fund in 2025. The
young people of today will have a significant impact on the future of our county, so investing in them now will
leave a lasting and positive legacy for Suffolk.
li

Suffolk Community Foundation
Trustees, Report
For the year ended 30 June 2024
We have ongoing ambitious plans to continue to become more widely known in Suffolk and to build our
endowment and through-flow income in order that we can grow our financial support of our critical but
challenged voluntary sector. We also need to support the voluntary sector by simplifying our grant making
processes and by encouraging more donors to consider multi-year grants.
Efficient, well-directed grant making will continue and we intend to grow the knowledge of the role of the
Foundation in the charitable sector to encourage applications from charities we do not yet know about.
Overview of f inancial position
The Foundation's financial position is shown in the Statement of Financial Activities on page 20 and the Balance
Sheet on page 22.
Total income forthe year was £6.3m12023- £4.9ml.
Accounting Standards applicable to charities, including the Charities Statement of Recommended Practice
ISORP), require income to be recognised in full as soon as entitlement is probable, whereas associated grant
awards and overhead expenditure may take place in future periods. This can lead to fluctuations in the level of
income in any one period as well as reserves at a given balance sheet date. This is frequently an issue for the
Foundation, particularly given the variety of funding sources, which include the public sector and private
individuals. For example, at 30 June 2024 the annual income from the Sizewell Community Fund of £2.3m was
recognised in the financial year but due to the timing of panels no awards will be made tjntil the following
financial year. At 24th October 2024, gra nts in excess of £3CX)k are at the final award stage. In addition certain
costs to deliver the programme had already been incurred by 30 June 2024 .
Both unrestricted and endowment income were less than 2023 by £458k and £160k respectively.
Consequently, total costs fell in the year from £5.5m to £4.6m. Grants awarded amounted to £3.4m12023:
£4.5ml.
The net movement for the year across all funds was £3.Im. The unrestricted fund fell by £0.2m, the restricted
fund increased by £2.Im (including 5izewell Cl and the endowment fund increased by £1.2m.
The net gains on investments amounted to £1.4m12023: £0.4ml meaning that overall, fund balances increased
from £23.5m at 30th June 2023 to £26.6m at this year end.
10. Principal funding sources
The Foundation's income is derived mainly from grants, donations and legacies from the following sources:
Individuals, families, and businesses, with referrals often coming from professional advisors (solicitors,
accountants, and wealth managers)
Public sector organisations
Other trusts and foundations
12

Suffolk Community Foundation
Trustees. Report
For the year ended 30 June 2024
11. Fundraising Regulator
The Fou ndation demonstrates its commitment to good fundraising practice by subscribing to the Fundraising
Regulator Levy and follows the Fundraising Code. The Foundation does not use professional fundraising
agencies. No complaint5 have been registered against the Foundation du ring the year under review.
12. Investment policy and performance
Investments are held in accordance with the powers of the trustees set out in the Articles of Association14.151
and the Investment Policy.
The investment objective is to achieve an overall return on the investments within the risk appetite set by the
trustees and to provide financial returns to support Sustainable grant distribution across Suffolk and as endowed
funds increase over time, grant making growth too. In addition, social, environmental, and ethical parameters
are considered and incorporated in the investment vehicles chosen. Overall responsibility for the investment
portfolio is overseen by the Operations Commsttee which reports to the Board of Trustees.
The Foundation uses the seNices of investment managers to invest its financial assets. These are selected
following a structu red selection process in line with the investment objectives. Over the past financial year, the
Foundation has continued to contract the services of investment managers Rathbones, CCLA, Evelyn and Barratt
and Cooke. All investment managers, performance has been monitored closely in line with the investment
objectives and prevailing market conditions. The current portfolio of listed investments managed by the
investment managers is £19,177,833 an increase of 7.8% at year-end {Note 131.
The trustees have considered the valuation of the investment properties. At the present time the propertv
market is very volatile, but given the unique nature of the properties and their location, the trustees do not
believe there has been any significant change in the market value of the propertie5. The portfolio was revalued
in May 2023 by Lacy, Scott and Knight, Chartered Surveyors.
13. Risk management
In line with our risk management policy, an audit of risks affecting the Foundation is conducted quarterly. All
changes to the risk register are brought to the trustees, attention and dependent upon severity, action plans
implemented to address the risk. Trustees consider the main strategic risk facing the Foundation to be a
significant loss of income combined wtth increasing demand for grants as conditions in the charitable sector
remain challenging, with higher demand from many individuals and some communities. This risk is managed
through a focus on developing new income sources, efficient grant processes and our reserves policy.
14. Reserves policv
The trustees and senior leadership team have considered the level of unrestricted reserves necessary to ensure
the continuation of Suffolk Community Fou ndation's activities for the foreseeable future. This assessment 15 on-
going and 15 part of the Board of Trustees, financial risk management. The Foundation's unrestricted resenle
derives from donations, legacies, sponsorship, events, and gifts from both corporate and private sources.
The Foundation's activities require effective administration. Accordingly. to allow the Foundation to continue to
deliver on its objectives and adjust to negative short temi changes in funding, the trustees believe that the
Foundation should endeavour to build up and then maintain reserves in the range of six to twelve months
(£333,500 to £667,LX)01 of our projected overheads. To that end. the Foundation is currently holding reserves at
13

Suffolk Community Foundation
Trustees, Report
For the year ended 30 June 2024
year end of £681,58812023: £930,944).
The Trustees are of the view that Suffolk Community Foundation is a going concern.
15. Trustees, agreements
All trustees give their time f reely and no trustee remuneration was paid in the year. Trustee expenses paid in
the year totalled £127 {2023: £nill.
16. Senior Leadership Team remLJneration
The pay of all senior staff is reviewed annually by the chief executive initially who then makes recommendations
to the Board of Trustees.
17. Related parties
Trustees, staff, and non-trustees who sit on committees are required to disclose all relevant outside interests
which are recorded in a document and updated quarterly. Where a conflict of interest exists, trustees withdraw
from decisions.
18. Disclosure of information to auditors
All of the current Trustees have taken all the steps that they ought to have taken to make themselves aware of
any infomiation needed by the Foundation's audrtors for the purposes of their audit and to establish that the
auditors are aware of that information. The Trustees are not aware of any relevant audit information of which
the auditors are unaware.
On behalf of the board of trustees on 24 October 2024.
George Vestey DL
Trustee
14

Suffolk Community Foundation
Statement of Trustees. Responsibilities
For the year ended 30 June 2024
The trustees. who are also the dirertors of Suffolk Community Foundation for the purpose of company law, are
responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of
the state of affairs of the charity and of the incoming resources and application of resources, including the income
and expenditure, of the charitable company for that year.
In preparing these accounts, the trustees are required to:
select suitable accounting policies and then apply them consistently.
obseNe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent; and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The tru5tee5 are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the accounts comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The following information for the accounting year ended 30 June 2024 is presented in the fomi required by the
Charity Commission and the Companies Act 2CrfJ6 and as amended by the Charities Act 2011. The Foundation
also produces an Annual Review, which includes information presented more visually about activities undertaken
in the year, including detailed grant information.
The Financial Statements and Annual Review are also published on the Foundation's website
Iwww suffolkcf or
.ukl in accordance with legislation in the United Kingdom governing the preparation and
dissemination of financial statements, which may vary from legislation in other jurisdictions. The Maintenance
and integrity of the Foundation's website is the responsibility of the trustees. The trustees, responsibility also
extends to the on-going integrity of the financial statements contained therein.
15

Suffolk Community Foundation
Independent Auditors. Report to the Members of Suffolk Community Foundation
For the year ended 30 June 2024
Opinion
We have audited the financial statements of Suffolk Communty Foundation {the 'charitable companV) for the
year ended 30June 2024 which comprisethe Statement of Financial Activities, Summary Income and Expenditure
Account, Balance Sheet, Cash Flow Statement and notes to the accounts, including a summary of 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 Fin(7nciol
Reporting Standard t7pplicable in the UK ond Republic of Ireland (United Kingdom Generally Accepted Accounting
Practi￿1.
In our opinion the financial statements:
give a true and fair view of the state of the charitable companVs affairs as at 30 June 2024, and of its net
movement in funds, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accorda nce with International Standards on Auditing (UK) {ISAs {UKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, 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 FRCS 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 relating 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
conditlons that, individually or collectively, may cast significant doubt on the charitable compan¢s ability to
continue as a going concern for a period of at least twelve months from the date when the financial statements
are authorised for issue.
Our responsibility and the responsibilities of the Trustees with respect to going concern are described in the
relevant Sections of this report.
16

Suffolk Community Foundation
Independent Auditors, Report to the Members of Suffolk Community Foundation
For the year ended 30 June 2024
Other infomiation
The other information comprises the information included in the annual report other than the financial
statements and our auditorfs report thereon. The Trustees are responsible for the other information contained
within the annual report. Our opinion on the financial statements does not cover the other information and 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 knowledgeobtained in the audit, orotherwise 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 3
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.
Opinion5 on other matters prescribed by the Companies kt 2006
In our opinion, based on the work undertaken in the course of the audit:
the information gtven in the Trustees, Report for the financial year for which the financial statements are
prepared is consistent with the financial statements; and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our 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 Trustees, 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:
adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns,. or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit,. or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the trustees, directors, report
and from the requirement to prepare a strategic report.
Respon5ibilitie5 of trustees
As explained more fully in the trustees, responsibilities statement set out on page 15, the trustees are responsible
for the preparation of the fina ncial statements a nd for being sat15fied that they give a true and fair view, and for
such internal control as the trustees determ ine is necessary to enable the preparation of financial statements
that are free from material misstatement, whether due to fraud or error.
17

Suffolk Community Foundation
Independent Auditors. Report to the Members of Suffolk Community Foundation
For the year ended 30 June 2024
In preparing the financial statements, the trustees are responsible for assessingthe charitable companrfs 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.
Auditors. responsibllities 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 auditorfs report that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit condutted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. M isstatements 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.
Irregularities, including f raud, 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 detetting irregularities, including fraud, is
detailed below.
Our audit wa5 designed, after obtaining suitable knowledge and understanding of the charitable company and
its operating systems, controls and culture, to include tests of detail together with supportive analytical
procedures, to enable us to obtain reasonable assurance that the financial statements are free from material
misstatements.
The engagement partner ensured the audit team collectively had the required experience, knowledge and
competence to undertake the planned work and identify any material misstatements due to irregularities.
Our planned procedures included consideration of the work of Service organi5ations utilised by the charity.
From the work performed, discussions with management and the trustees and our knowledge and experience
of the cha rity sector, we have obtained an understanding of the legal and regulatory framework the Charity
operates in.
Our audit included higher levels of work on areas where we considered there to be a higher risk of fraud or
misstatement, including revenue recognition and areas where there is a risk of management override of systems
and controls or where there are high levels of uncertainty regarding an estimate orjudgement.
However, it is the primary responsibility of management, with the oversight of the trustees, to ensure that the
entit¢s operations are conducted in accordance wrth the provisions of laws and regulations and for the
prevention and detection of fraud.
A further description of our responsibilitie5 for the audit of the financial statements is located on the Financial
Reporting Council's website at: litt
www.frc.or
auditorgres
onsi bil ities. Th is description forms part of
our auditorfs report.
18

## **Suffolk Community Foundation** 

## **Independent Auditors' Report to the Members of Suffolk Community Foundation** 

**For the year ended 30 June 2024** 

## **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 auditors' 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 its members as a body, for our audit work, for this report, or for the opinions we have formed. 

## **Helen Rumsey (Senior Statutory Auditor) for and on behalf of Ensors Accountants LLP Statutory Auditor** 

Connexions 159 Princes Street Ipswich IPl lQJ 

Dated:  29/10/2024 

19 



Suffolk Community Foundation
Statement of Financial Artivitie5
For the year ended 30 June 2024
Wote5
unr￿tr￿le￿
Re5trlcted ETrdDwffleTrt
F￿ndS
funds
Totsl
2024
Unrestricted
funds
Restricted
Funds
End(wrnent
funds
Total
2023
Income and endowmentsfrom..
266,109
5,105.990
173.160
5.545.259
728.078
62,734
62,836
3.162.410
27,400
541.061
333.243
4,223,731
90,134
603,897
Inve5tment5
129,706
582,512
712,218
Total Income
395,815
5,68B,502
173,160
6,257,477
859.648
3,730ml
333.243
4.917.762
Eynthture orl..
222.570
73.Lk)4
48.922
344.496
220.C67
89.007
41.740
350.814
Charitable actwitie5
6rtrntS Obvfirded
othercharituble uctivftiE5
167,647
845,51S
3,233.621
13,742
3.401.268
859,811
120.4?5
689,233
4,353.456
15.097
4,473,931
704,330
554
Totsl expendbiure
1,235,732
3.320.367
49,476
4,605,575
I,D29,775
4A57,560
41,740
5.529.075
Net8ain5/lb5Se51 On inve5tment5
1.437,588
1.437.588
979
402.254
403.188
Net Intome I (Èxpenditurel
1839.9171
2.368.135
1.561,272
3.089.490
1176.1721
1725.7101
693.757
208.1251
Transfers between funds
590,561
1273,9101
591,988
1299,7541
1292,2341
Net movemeDt i•
1249,3561
930.944
2.094.225
2.061.732
1.244.621
20.478.(0)
3,089.490
13.470.676
415.816
515.128
11.015,4641
3.087.196
40L521
20.076.477
1208,1251
23.678.801
Fuhd balanre5 at l Juty2023
Fund balance5 at 30June 2024
6BI,588
4,155.957
21.7ZZ,621
26￿60.166
gJO,944
2,061,732
10,478,000
Z3,470,676
20

Suffolk Community Foundation
Summary Income and Expenditure Account
For the year ended 30 June 2024
2024
2023
Income
Gains /1105se51 on investments
Interest and investment income
5,688,750
4.272.856
934
603,897
712,218
Gross income in the reporting period
6ACKI,968
4,877.687
Expenditure
Depreciation
4.553.310
2,789
5N84.107
3.228
Total expenditure in the reporting period
4,556,099
5.487,335
Net incomellexpenditurel before tax in the reporting period
IW,869
{609.648)
Tax payable
Net incomellexpenditure) In the reporting period
1,844,869
1609.648)
The above excludes income for endowment.
Statement of Recognised Gains and Losses
Net income/{expenditure) for the year
1,844,869
1609,648)
Net movement on endowment funds
1,244,621
401,523
3.089.490
{208,125}
21

Suffolk Community Foundation
Balance Sheet
As at 30 June 2024
Company number 05369725
2024
2023
Notes
Fixed ossets
Tangible assets
Investments
Investment properties
12
13
13
10,168
19,177,833
3,035,000
6,239
17,785,705
3,035,000
Total fixed assets
22,223,001
20,826,944
Current Q$5et5.'
Debtors
Cash at bank and in hand
14
682,407
4,542,706
899, 129
3,083,538
Total current assets
5,225,113
3,982,667
Liobilities..
Creditors amounts falling due within one
year
15
1783,9481
11,284.7391
Net current assets
4,441,165
2,697,928
Total assets less current liabilities
26,664,166
23,524,872
Creditors.. amounts falling due after more
than one year
16
1104,0001
154,1961
Net assets
26,560,166
23,470.676
TheAund5 OA the charity..
Capital funds
Endowment funds
17
21,722,621
20,478,000
Incomefunds
Restricted funds
4,155.957
2.061.732
Unrestricted funds
681,588
930,944
Total charity funds
26,560,166
23,470,676
These financial statements have been prepared In accordance with the provisions applicable to companies subject to the
Companies Act 2006 small companles, regime.
The financial statements were approved by the Board and authorised for issue on24 October 2024.
MrG Vestey DL
Trustee
MrsSGull
Trustee
The notes on pages 24 to 44 form part of these financial statements.
22

Suffolk Community Foundation
Cash Flow Statement
For the year ended 30 June 2024
2024
2023
Note5
Ca5hflowsfrom opernting artlvities..
Net cash provided by/lused in) operating
activities
20a
535.048
11,218,021)
C¢75hflowsfrom investing ottivities..
Dividends, interest and rents from
investments
Proceeds from the sale of investments
Purchase of fixed assets
Purchase of investments
712,218
2,641,894
16,7181
12,596,434)
603,897
2,675,249
13,285,466)
Net cosh used in investing t7rtivities
750,960
16,3201
Cash flowsAromAinoncing ortivities."
Receipt of endowments
173,160
333,243
Changes in cosh ond cosh equivalents in
the year
20b
1,459,168
1891,0981
Cash and cash equivalents at the
beginning of the reporting period
3,083,538
3,974,636
Cosh Gnd cash equivalents ot the end o
the reporting period
20b
4.542.706
3,083,538
The notes on pages 24 to 44 ft)rm part of these financial statements.
23

Suffolk Community Foundation
Notes to the Accounts
For the year ended 30 June 2024
Accounting policies
Suffolk Community Foundation is a company limited by guarantee, domiciled and incorporated in England and Wales,
registration number 05369725.
Suffolk Community Foundation is a registered charity, registratlon number 01109453.
The registered office for the charity is The Old Barns, Peninsula Business Centre, Wherstead, Ipswich, IP9 2BB.
Basis of preparation
The accounts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 effective I january 2019, and the Companies Act
2006.
The Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially
recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements have been prepared in sterlin& which is the functional currency of the Foundation, and
rounded to the nearest pound.
Preparation of accounts on a going concern basis
The trustees consider that there are no material un￿rtaintieS about the tharrtrfs ablllty to continue as a goin8
concern. The review of the financial position, reserves levels and future plans gives trustees confidence the charity
remains a going concern for the foreseeable future.
The following principal accounting policies have been applied:
Income
All income 15 included in the Statement of Financial Activities when the income entitlement is probable, and
the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular
categories of income:
Donotions comprise grants, donations and gifts given to the charity towards the core running costs and
grantmaking. Income is included in full in the Statement of Financial Activities when receivable. Grants, where
entitlement is conditional on the delivery of a specific performance by the charity, are recognised when the
ch3rity becomes unconditionally entitled to the grant-
Other troding artivitie5 comprises income generated from fundraising events, including sponsorship towards
such event5. Income is included in full in the Statement of Financial Activities when receivable;
Investment Income is included when receivable. Realised and unrealised gains are included on the bottom of
the Statement of Financial Activities,.
Legocles are accounted for on an accruals basis as soon as they have been notified to the charity, and can be
evaluated with reasonable certainty,.
i>onoted good5, 5ervice5 and fvcilities are included at the value to the charity where this can be quantified.
The value of services provided by volunteers has not been included in these accounts.
24

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Accounting pollcles Icontlnuedl
Expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be recovered and is
reported as part of the expenditure to which it relates. The following specific policies are applied to particular
categorie5 of expenditure,.
Expenditure on mising funds comprises those costs incurred in generating voluntary income, fundraising trading
C05t5 and investment management costs. These costs are regarded as necessary to generate funds needed to finance
charitable activities,.
Expenditure on charltoble ortlvities includes the value of grants awarded by the Foundation and the costs incurred
by the charity in the delivery of its attivities and services for its beneficiaries. Grants payable are recognised as
expenditure and included in the SOFA when approved by the trustee5 and accepted by the beneficiaries. The value
of such grants unpaid at the year*nd is accrued. Grant5 where the beneficiary has to meet certain conditions before
the grant is released are accrued as financial commitments. Where a grant is to be paid by instalments, the
outstanding balance is disclosed as a liability.
Charitable expenditure includes both costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to SUPPOrt them and have been allocated on an activity costs basis consistent with the use
of resources. Within these costs are governance costs which are the costs associated with meeting the constitutional
and statutory requirements of the charity and include the audit fees and costs linked to the strategic management
of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed
to reflert the use of resources.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Capitsl costs greater than £500 are capitalised and carried
in the balan￿ Sheet at historica1 cost. Depreciation is provided at rates calculated to write off the cost less estimated
residual value of each asset over its expected useful life, as follows..
Computer equipment
Fixtures, fittings & equipment
33% straight line
25% reducing bal3nce
At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists,
the recoverable amount of the asset is determined by which 15 the higher of its fair value less costs to sell and its
value in use. An impairment1055 is recognised where the carrying amount exceeds the recoverable amount.
Leasing
Rentals payable under operating leases are charged against income on a straight-line basis over the period of the
lease.
25

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Accounting policies (continued)
Taxation
A5 a registered charity, the Foundation benefits from Council tax relief and is generally exempt from Income Tax and
Capital Gains Tax, but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Financial instruments
Financial instruments are recognised in the Balance Sheet when the charity becomes party to the contractual
provision of the instrument.
Financial assets and liabilities are offset, wfch the net amounts presented in the financial statements, when there is
a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financi31 assets include trade and other receivables and cash and bank balances. These are initially measured
at transartion price, including transaction costs and are subsequently tarried at amortised c05t using the effective
interest method. u nless the transaction constitutes a financing transaction, where the transaction is measured at the
present value of the future receipts.
Impairment of financial assets
Financial assets are assessed for indicators of impairment each year. Financial assets are impaired where there is
objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial
asset, the estimated future cash flows have been afferted. This impairment is recognised in the Statement of
Financial Activities.
Dfrrecognition of financial assets
Financial assets are derecognised only when the c(Intractual rights to the cash flows from the asset expire, or when
the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Classification of financial liabilitie5
Financial liabilities are cl355ified 8ccording to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument 15 measured at the present value of the
future payments discounted at a market rate of interest.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of
operations from suppliers. Account5 payable are classified as a current liability if payment is dije within one year or
less. If not, they are presented as non-current liabilities. Trade payable5 are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
De-recognttion of flnancial liabillties
Flnancial liabilities are derecognised when, and only when, the chariW5 obligation5 are discharged, cancelled, or they
expire.
Investments
Quoted investments are shown at middle market value. Differences arising on closing market value are taken to the
Statement of Financial Attivities as an unrealised movement.
Income arising from investments is accounted for on an accruals basis. Investment income on endowment is taken
to unrestricted or restricted income as appropriate.
26

Suffolk Community Foundation
Notes to the Accounts (continued}
For the year ended 30 June 2024
ActountinE policies Icontinuedl
i.io
Pensions
The charity operates a defined contribution pension scheme. Contributions are charged in the accounts a5 they
become payable in accordance with the rules of the scheme.
i.ii
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are
required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termin3tion benefits are recognised immediately as an expense when the company is demonstrably committed to
terminate the employment of an employee or to provitle termination benef its.
1.12
Fund accounting
Fund5 held by the Foundation are..
Unrestrirtedfvnds- these a￿ funds that can be used in furtherance of the charitable objects at the discretion of the
trustees.
Restrictedfund5- these are fu nds that can only be used for restricted pu rposes within the objects of the Foundation.
Restrittions arise when specified by the donor or when funds are raised for restricted purposes. Charttable
contributions are levied from restrirted funds as grants are awarded and transferred to unrestricted funds to help
support the Foundation's core costs.
Endowment funds - are represented by assets held for the long term by the charity, principally investments. In
accordance with the donors, wlshes the capltal can be permanent or expendable by nature. Income arising from the
endowment assets is typically used for grant making or other charitable objects. Realised and unrealised gains or
losses arise and the investment management charges are credited or charged to the funds. In addition, an agreed
contribution to core costs is made by each fund within the endowments and is transferred to the unrestritted fund
to support the work of the Foundation.
Income arising on endowment funds is cred¢ted to unrestricted fLsnds or restricted funds and is used for grant making
or other charitable activity. For most endowment funds, if they are expendable in nature. and if the investment
income does not meet the annual target designated for grant making Icurrently 5%), a transfer is made from capital
to meet the shortfall.
Tronsfers- comprise transfers to unrestrirted funds from restricted funds and endowment funds to support the work
of the Foundation as described above, plus certain transfers of capital as described above, plus other relevant items
that may arise periodically.
1.13
Investment properties
Investment propertles are stated at valuation. Surpluses arising on revaluation are taken to the Statement of Financial
ArtNities.
1.14
Cash and bank
Cash is represented by cash in hand and deposits with f inancial institutions repayable without penalty on notice of not
more than 24 hours. Cash equ ivalents are highly liquid investments that mature in no more than three months from
the date of acquisition and that are readlly convertible to known amounts of cash with insignificant risk of change in
value.
27

Suffolk Cornmunity Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Accounting policies (continued)
Judgements and key sources of estimation uncertainty
In application of the tharltvs accountlng policies, the trustees ère required to make judgements, estimates and
assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered
relevant. Actual results may differ from these estimates.
1.15
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accou nting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period
of revision and future periods where the revision affects both the current and future periods.
The key areas of judgement are,.
Investment property valuation: the portfolio of freehold investment properties is held at fair value on the basis of
valuations carried out by 3 professional valuer at regular intervals, updated annually through consultation between
the Trustees and professional valuer5 and with reference to market information.
Legacy income.. accrued legacies are included only if probate has been granted and there is certainty of value and
receipt.
Donations and legacies
Unrestricted
funds
Restrlcted Endowment
funds
funds
Total
2024
Donations and gifts
Legacy income
274,681
18,5721
4,999,140
106,850
48,160
125,000
5,321,981
223,278
266,109
5,105,990
173,160
5,545,259
Donations, gifts & legaaes
Unrestricted funds..
Corporate donations and gifts
Private donations and gifts
Membership
98,352
114.712
53,045
266,109
28

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Donations and legacies Icontinuedl
Unrestrirted
funds
Restricted
funds
Endowment
funds
Total
2023
Donations and gifts
Legacy income
221,716
506,362
3,162,230
180
317,145
16,098
3.701,091
522,640
728,078
3,162,410
333,243
4,223,731
Donations, gifts & legèaes
Unrestricted funds..
Corporate donations and gifts
Private donations and gift5
Membership
92,855
583,558
51,665
728,078
Income from trading activities
Unrestricted
funds
Restricted
funds
Endowment
fund5
Total
2024
Event income
Unrestricted
funds
Restricted
funds
Endowment
funds
Total
2023
Event income
62,734
27,400
90,134
62,734
27,400
90,134
Investment Sncome
Unrestrlcted
funds
Restrlcted
Funds
Endowment
funds
Total
2024
Rental income f rom property investments
Income from listed investments
Other investment income
82.503
502,521
12,5121
82,503
582,339
47,376
79,818
49,888
129.706
582,512
712,218
29

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Investment income Icontinuedl
Unrestricted
funds
Restricted
Funds
Endowment
fund5
Total
2023
Rental income from property investments
Income from listed investments
Other investment income
79,150
458.836
3,075
79,150
513,533
11,214
54,697
8,139
62,836
541,061
603,897
Realised and unrealised gains and losses on investments are not shown as investment income but are included at the
bottom of the Statement of Financial Activities.
30

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
5 Expenditure
Note
Staff
costs Depreciation
Other
Costs
Grant
Funding
Total
2024
Raisingfunds
Events and marketing
Support costs
Investment management costs
Other investment property cost5
86,999
31,377
58,690
27,830
86,999
170.977
58.690
27,830
139,126
474
Total raising funds
139.126
474
204.896
344A96
Choritoble activities
Grants programme
Grant funding of activities
Support costs
3,401,268
3,401,268
402,296
327,355
1,115
73,826
327,355
1,115
73,826
3.401,268
3,803,564
Community development
Support costs
270,068
921
60,906
331,895
Re5earth and education
Support tosts
81,839
279
18,457
100,575
Management, operational and
financial administration
Support costs
25,045
25,045
Total charitable activities
679,262
2,315
178,234
3,401,268
4,261,079
Total expenditure
818.388
2.789
383.130
3.401.268
4,605,575
31

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
5 Expenditure Icontinuedl
Note
Staff
Costs Depreciation
Other
Costs
Grant
Funding
Total
2023
Roisingfunds
Events and marketing
Support costs
Investment management costs
Other investment property costs
66,508
22,297
59,768
40,561
66,508
183,977
59,768
40.561
162,836
11,1561
Total raising funds
I62￿36
11.1561
189.134
350.814
Charitoble Jrtivities
Grants programme
Grant fundinB of activities
Support costs
4,473,931
4,473,931
322,673
256,357
2,113
64,203
256.357
2,113
64.203
4,473,931
4.796,604
Communtty development
Support costs
2CK),825
1,743
43,280
245,848
Researth and education
Support costs
103,843
528
13,114
117,485
Management, operational and
financial administration
Support COSts
18,324
18,324
Total char¢table attivities
561,025
4,384
138,921
4,473,931
5,178,261
Total expenditure
723￿61
3.228
328.055
4.473.931
5.529,075
32

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Grants payable
2024
2023
Grants programme
3,401,268
4,473,931
The Foundation manages a wide portfolio of funds on behalf of statutory bodies, individuals and organisations. Its core
activity is to provide support to small, local, grass-root tommunity and voluntary groups across Suffolk. The vast
majority of its grantmaking activity, in terms of both number and monetsry value of grants, has been directed to this
objective. Grants are distributed through panels across Suffolk.
During the year 881 grants12023'. 8631 were distributed. A full analysis of grants paid in the year can be obtained from
the registered office.
All gra nts paid in the year were made to institutions. None of the grants to any particular institution in total were
material during either year.
2024
2023
Reconciliation of grants payable
Commttments made in the year
Grants paid during the year
Commitments at l July 2023
3,401,268
13,958,371)
1,285,039
4,473,931
13,970,8561
781,964
Commitments at 30 lune 2024
727,936
1,285,039
Commitments at 30 lune 2024 are payable as follows..
Within one year
After more than one year
623,936
104,OCH)
1,230,843
54,196
727,936
1,285,039
Grants awarded in the year fall under the follow5ng themes:
2024
2023
Children & Young People
Economic HardshiplPoverty
Education & Skills
Environmental Issues
Health & Wellbeing
Impact of Crime & Anti-social Behaviour
Older People
Other
50,255
934,454
271,346
34,182
1,722.621
238.587
120,269
29,554
54,251
1,506,709
140,753
2,342,660
310,312
119,246
3,401,268
4.473,931
33

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Support costs
Ralsing
funds
Grants Management Community Research &
programme
& admin development
education
Total
2024
Office and admin
Premises expenses
Staff costs
Depreciation
Information technobgy costs
Governance costs
(Note 81
20,044
7,549
139,126
474
3,784
47,162
17,761
327,355
1,115
8,903
38.908
14,653
270,068
921
7,345
11,791
4,440
81,839
279
2,226
117,905
44,403
818,388
2,789
22,258
25,045
25,045
170,977
402,296
25,045
331,895
100,575
1,030,788
Premise5 expenses include £27,801 12023.. £24,7981 payable in respect of operating leases for property. Office and
administration expenses include £2,05012023: £2,050) in respect of operating leases for plant and machinery.
Raising
Grants Management Community Research &
funds programme
& admin development
education
Total
2023
Office and admin
Premises expenses
Staff costs
Depreciation
Information technology costs
Governance cost5
INote 81
12,384
6,613
162,836
11,1561
3,300
40,873
15,562
256,357
2,113
7,768
24,042
12.837
200,825
1,743
6,401
7,283
3.890
103,843
528
1,941
84,582
38,902
723,861
3.228
19,410
18,324
18,324
183,977
322,673
18,324
245,848
117,485
888,307
Governance costs
2024
2023
Legal and professional fees
Other costs
23,752
1,293
17,044
1,280
25,045
18,324
Governance costs includes payments to the auditors of £14,10012023.' £14,500) for audit fees and £9,652
12023.. £2,544) for non audit fees.
34

Suffolk Cornmunity Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Trustees
None of the trustees lor any persons connected with them) received any remuneration during the year12023- £nill. One
trustee received expenses during the year of £12712023.. £nill for travel.
The charity has purchased trustee indemnity insurance for £39112023: £3651.
10 Employees
Number of employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Key management personnel
Operational
li
14
16
19
The average number of full-time equivalent employees during the year was 13.712023= 15.61
2024
2023
Employment costs
Wages and salaries
Social security costs
Other pension costs
669,571
62,783
56,142
617,118
60,107
42,834
788,496
720,059
One employee received remuneration of between £60,000 and £69,999, two employees between £70,000 and £79,999
and one employee between £140,000 and £149,999 12023.. Two between £90,000 and £99,999) including pension
contributions.
Special staff severance payments are amounts paid to employees outside of statutory and contrartual requirements.
During the year there were two severance payments made totalling £82,94512023= £nill.
The key management personnel comprise the Chief Executive, Director of Finance and Operations, D1￿ctOr of
Philanthropy and Engagement and Director of ProBrammes. The total employee benefits including pension and
employerfs national insurance contributions of the key management personnel were £469,30612023'. £355,367).
li
Pension and other post-retirement benefit commitments
Defined contribution
2024
2023
Contributions payable by the company for the year
56,142
42,834
35

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
Tangible fixed assets
Fixtures, fittings &
equipment
Cost
At l July 2023
Additions
Disposals
45,406
6,718
At 30 June 2024
52,124
Depreciation
At I july 2022
On disposals
Charge for the year
39,167
2,789
At 30 June 2024
41,956
Net book value
At 30June 2024
10,168
At 30 June 2023
6,239
13
Fixed asset investments
Listed
investrnents
Investment
properties
Unlisted
Investments
Total
Market value at l July 2023
Disposa 5 proceed5
Acquisitions at cost
Change in value in the year
17,785,705
12,641,8941
2,596.434
1,437,588
3,035,000
20,820,705
12,641,894)
2,596,434
1,437,588
Market value at 30 June 2024
19,177,833
3,035,000
22,212,833
Historical cost..
At 30 June 2024
17,061,708
2,433,974
19,495,683
At30June 2023
17,131,272
2,433.974
19,565,247
36

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
13 fixed asset Investments Icontlnued)
The trustees have considered the value of the investment properties and have assessed this to be unchanged Since the
last formal valuation. The portfolio was revalued in May 2023 by Lacy, Scott and Knight, Chartered Surveyors.
Holdings of more than 5%
Holdings representing more than 5% of the value of total market investments..
Marketvalue
COIF Charities Ethical Investment Fund13,092,931 income units)
9,572,312
14 Debtors
2024
2023
Trade debtors
Accrued income
Prepayments
Other debtors
20,000
572,876
29,631
59,900
582,959
204,720
20,968
90,482
682,407
899,129
Other debtors include loans of £59,90012023: £90,482). Normal market rates of interest have been charged on the
loans.
37

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
15 Creditors: amounts lalling due wlthin one year
2024
2023
Trade creditors
Other creditors
Taxation and social secu rity
Grants payable- see note 6
Accruals and deferred income
54,142
36,356
22,592
623,936
46,922
28,281
665
1,230,843
24,950
783,948
1,284,739
2024
2023
Deferred income brought forward
Released during the year
Deferred during the year
665
16651
665
202,065
1202,0651
665
Deferred income carried forward
665
665
Deferred income relates to amounts received in advance for future periods
16 Creditors.. amounts falling due after more than one year
2024
2023
Grants payable- see note 6
104,000
54,196
104,000
54,196
38

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
17
Endowment funds summarv
Balance at
l Juty 2023
Income Investment
Other
fees transfers
Investment
Balance at
ga•ns11055es 30 June 2024
Linked charity
983,237
13,1591
9,439
67,883
1,057,400
Children & Young People:
Other funds
504,794
14141 110,7361
45,521
539,165
Economic
Fund I
Other funds
315,122
124,752
118,9071
14,9801
30,084
10,135
326,299
129,680
12271
Education & Skills=
Fund 2
Fund 3
Fund 16
Other funds
484,237
338,672
12,2911 115,0761
25,094
31,688
64,522
80,052
491,964
370,360
1,528,468
926,540
18,5541 1,472,500
13.0791 130,2841
876,311
3.540
Health & Wellbeing..
Fund 4
Fund 5
Fund 6
Fund 7
Fund 8
Fund 9
Fund 10
Fund 11
Fund 12
Fund 13
Fund 14
Other funds
802,478
422,684
2,370,502
312,314
1,351,689
1,017,956
3.199,938
393,686
1,452,231
1,413,487
325,728
3,216,219
11,1991
16,8591
13471
11,9831
15,0881 11,550,000)
16221
12,9551
16,8631 139,2261
66,113
36,957
140,045
23,580
75, 174
95,246
14,044
34,963
11)4,819
127,790
18,123
278,150
860,533
457,311
1,080,459
334,891
1,380,774
1,113,202
3,205,257
421,028
1,573,071
1,535,112
332,747
3.466,825
125,000
2,574
11,5531
17,1721
13,6841
13,9371
14,3531
20,374
11,4641
18,3551
11,6561
19,4481
14,9231 161,0131
3,654
38,392
Older People:
Fund 15
571,963
148,0331
67,605
591,535
20,478,000
173,160
149,4761 1316,6511
1,437.588
21,722,621
39

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
17
Endowment funds summary Icontinuedl
Balance at
l July 2022
Income Investment
fees
Other
Investment
Balance at
transfers gainsllosses 30 June 2023
Linked charity
996,623
19,9661
13.4201
983,237
Children & Young People..
Other funds
506,683
110,0641
8,175
504,794
Economic
Fund I
Other funds
318,153
127,029
110,3021
16,3081
7,271
1,031
315.122
124,752
3,000
Education & Skills..
Fund 2
Fund 3
Other funds
471,050
331,013
624,441
111,9451
25, 132
7,659
8,958
484,237
338,672
876,311
255,122
112,2101
Health & Wellbeing..
Fund 4
Fund 5
Fund 6
Fund 7
Fund 8
Fund 9
Fund 10
Fund 11
Fund 12
Fund 13
Fund 14
Other funds
802,082
461,537
2,311,493
299,737
1,422,703
994,936
3,073,947
373,074
1,399,106
1,448,177
342,843
3,202,140
18.0571
145,6061
8,453
6,753
59,009
3,141
124,9131
23,020
134,421
19,1611
53,125
22,798
16,0061
63,624
802,478
422,684
2,370,502
312,314
1,351,689
1,017.956
3,199.938
393,686
1,452,231
1,413,487
325,728
3,216,219
2,700
6,736
146,1011
18,4301
29,773
1,287
158,7751
111,1091
133,0681
25,263
141,7401
Older People=
Fund IS
569,710
16,098
127,0291
13,184
571,963
20,076,477
333,243
141,7401 1292,2341
402,254
20,478,000
Llnked tharlty
On 25 March 2015, the Charrty Commission for England and Wales authorised a Linking Direction between Suffolk
Community Foundation and Fonnereau Road Health Foundation Fund IFRHFFI such that the FRHFF Endowment became a
linked charity of the Foundation. The trustees hold the tapital of this fund in the form of permanent endowment wrth any
income generated by this fund used by the trustees at their dI￿retIOn in furthering the objects of the charity as documented
in the Trust Deed.
All other endowments
We build and manage both expendable and permanent endowments to provide sustainable revenue for grant making.
The °other funds" are made up of low value fund balances that separate disclosure would not provide any additional value
to the reader of the financial statements. These have therefore been combined for presentational purposes.
Grantmaking
Grants from endowment funds are made from restrirted funds of the same name, see note 18.

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
17 Endowment funds summary (continued)
Transfers
Transfers from endowment funds represent donor advised amounts for grantmaking purposes. Transfers to endowment
funds are generally from the related restricted funds either to fund management fees or as a donor advised transfer to
increase their endowment fund from general donations. In certain circumstances the Trustees can authorise transfers to
endowment funds from unrestricted funds for furtherance of the charitsble objectives.
Investment income
In accordance with the SORP any income earned on endowment funds invested is received in the grantmaking fund to enable
grants to be made from the income.
Restricted funds
The income funds of the charf(v include restrirted funds comprising the following unexpended balances of donations
and grants held on trust for specific purposes=
Balance at
l July 2023
Incoming
resources
Resources
expended
Other
transfers
Investments
gains on
disposal
Balance at
30 June 2024
Grantmaking funds
Children & Young People
Economic
Education & Skills
Environmental issues
Health & wellbeing
Impact of crime
Older people
Other
Overhead funds
66,540
293,681
49,299
20,000
1,225,518
261,079
4,137
141,478
72,113
818,785
387,425
24.000
1,794,336
143,5861
131,3261
1910,1071
146,8451
1262,7(K)I
185,745
121,6821
12, 1681
11,696,952) 1192,5071
1228,0871
121,4911
1120,2691
29,986
136,9841
1195,3041
63,741
155,514
359,769
20,150
1,130,395
11.501
12,629
2,402.258
98,775
2,493,068
2,061,732
5,688,502
13,320,367)
1273,9101
4,155,957
Balance at
l July 2022
Incoming
resources
Resources
expended
Other
transfers
Investments
gains on
dlsposal
Balance at
30 June 2023
Grantmaking funds
Children & Young People
Economic
Education & Skills
Environmental issues
Health & wellbeing
Impact of crime
Older people
Other
Overhead funds
30,974
303,466
49,305
42,310
1,604,602
146,568
20,000
1,477.327
3(X),000
112,962
3,202
23,900
154,9241
11,513,643)
1140,8271
47,176
1100,7441
15,7471
1,004
66,540
293,681
49,299
20,000
1,225,518
261,079
4,137
141,478
2.222,256
290,543
1,588
189,064
12,293,920) 1180,1201
1310,3121
119,1521
1119,2461
8,833
17881
150,0001
123,9001
1251
3,087,196
3,730,871 14,457,560) 1299,7541
979
2,061,732
41

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
18
Restrirted funds Icontinuedl
Grantmaking funds
Funds held for the purpose of grantmaking to communities, groups and projects as defined by the purTiose of each fvnd.
Overhead funds
Fund5 awarded towards specific running cost5.
Transfers
Transfers in represent a release of capital from endowment funds. Transfers out generally represent donor wishes to
convert part of their donation to an endowment fund, or a transfer of restricted fvnds of a similar nature.
19
Analysis of net assets between funds
Unrestricted
Restricted
Endowment
Total
Fund balances at 30 lune 2024 are represented by..
Tangible fixed assets
Investments
Current assets
Creditors.. amounts falling due within one year
Creditors.. amounts falling due after more than one year
10, 168
482,846
308,977
1120,4031
10, 168
22,212,833
5,225,113
1783,9481
1104,0001
21,729,987
4,916,136
1656,1791
1104,0001
17,3661
681,588
4,155,957 21,722,621
26,560,166
Unrestricted
Restrirted
Endowment
Total
Fund balances at 30 lune 2023 are represented by=
Tangible fixed assets
Investments
Current assets
Creditors.. amounts falling due within one year
Creditors.. amounts falling due after more than one year
6.239
335,624
635,231
3,347,436
146,1501 11,231,508)
154,1961
6,239
20,820,705
3,982,667
17,0811 11,284,739)
154,1961
20,485,081
930.944
2,061,732 20,478,000
23,470,676
42

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
20
Note5 to the tash flow statement
Reconciliation of net incoming resources to net cash flow from operating activities
2024
2023
Net income / lexpenditurel for the reported period las
per the statement of financial activitiesl
Adjustments for:
Depreciation charges
(Gains) / losses on investments
New endowments
Dividend5 interest and rents from investments
Loss / Iprofitl on sale of investment and assets
Ilncreasel / decrease in debtors
Increase / Idecreasel in creditors
3,089,490
1208,1251
2,789
11,507,011)
1173,1601
1712,2181
69,423
216,722
1450,9871
3,228
1362,4351
1333,2431
1603,8971
140,7521
35,610
291,593
Net cash provlded by I (used in) operating activities
535,048
11,218,021)
{bl
Analysis of cash and cash equivalents
2023
Movement In
in cash flow
2024
Cash at bank and in hand
3,083.538
1,459,168
4,542,706
3,083,538
1,459,168
4,542,706
21
Commitments under operating leases
At 30 lune 2024 the charity had annual commitments under non-cancellable operating leases as follows=
Land and bulldings
2024
2023
Other
2024
2023
Expiry date..
Within one year
Between two and five years
30,750
57,750
27.750
88.500
1,584
1.555
1,584
3,139
88,500
116,250
3,139
4,723
43

Suffolk Community Foundation
Notes to the Accounts (continued)
For the year ended 30 June 2024
22
Related party transartlons
Due to the nature of the charitable companWs operation5 and the tomposition of the Board of Trustees, varlous trustees
are fund holders and have a registered interest in charities receiving grants from Suffolk Community Foundation.
During the year, donations from trustees totalled £7.83012023.. £5,500) and donations from entities in which trustees
have an interest totalled £90,03012023'. £71,319). Grants awarded to charities in whith trustees have an interest totalled
£133,72712023: E499,2291.
The following amounts were incurred as professional fees..
£14,21512023.' £5,722) Birketts LLP - a business in which trustees Jonathan Agar and Louise Long have an interest- for
professional services in relation to premises lease, legacy and fund development advice. At the year end, £3,60012023'.
£nill was included in trade creditors.
£4,71812023- £5,847) Scrutton Bland Insurance Brokers Limited a business in which Trustee Susan Gull had an interest
until 281h March 2024- for professional services in relation to insurance.
23
Members, Ilablllty
The liability of the members, in the event of the Foundation being wound up, is limited to the sum not ex￿e￿Ing £1.
24
Financial instruments
2024
2023
Financial assets measured at market value
19,177,833
17,785,705
Financial assets that are debt instruments measured at market value comprise investments.
Financial asset5 and liabilities measured at amortised cost are not required for disclosure.