Registered Charity Number: 1110565 THE GENERATIONS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 6TH Aprfl 2024 R•g18terod Charlty Number: 1110566
Registered Charity Number.. 1110565 Contents REFERENCE AND ADMINISTRATIVE DETAILS..................................................................................,.. REPORT OF THE TRUSTEES,............................... ................................................................................... INDEPENDENT EXAMINER'S REPORT....................,....,....................................................................,... STATEMENT OF FINANCIAL ACTIVITIES ............................................................................................... BALANCE SHEET.......................................................................................................................................... NOTES TO THE FINANCIAL STATEMENTS
Registered Charity Number: 1110565 REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5TH APRIL 2024 Reference and Admlnlstratlve Infomiatlon Charity Name.. THE GENERATIONS FOUNDATION Registered Charity number.. 1110565 Registered Office: 36 Marryat Road London SW19 5BD Trustee8'. RP Finch R Finch SJ Finch Bankers: Coutts & Co 440 Strand London vc2R OQS Independent Examiner: Community Action Sutton Granfers Community Centre 73-79 Oakhill Road Sutton SM13AA
Registered Charity Number.. 1110565 THE GENERATIONS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR TO 5TH APRIL 2024 Obj8ctlves The Generations Foundation, formerly The Generations Charitable Trust, is an unincorporated charity established by trust deed on 1st July 2005. The name was changed in November 2011. The objectives of the charity are to assist a wide- ranging class of beneficiaries both in and OLrt of the U.K. Our focus has been broadly split beeen supporting disadvantaged children, small local charities and environmentsl concerns. We have assisted U.K. based causes as well as several overseas. It is the intention of the trustees to continue to build on this range of charities. Whilst the trustees are committed to supporting worthy causes. they have not entered into any binding commitments for the future. The trustees meet regularly to review requiremants of potential beneficiaries, overall strategy and direction of the charity, as well as investment strategy. The trustees have the power at their discretion to pay or apply the capital and Income in fevour of the above objects'ves. The trusl was registered as a charity with the Cttarity Commission number 1110565 on the 251h July 2005. Trustees R P Finch R Finch S J Finch The power of appointing new or additional trustees is vested with the trustees. The trustees make decisions about the organisation and management of the trust on a joint basis. Revlew The statement of financial activities for the period is 8hovffl. The acts'vity of the charity is financed by its investment income and capital. During the period the charity made donations to various charities and educational establishments lotalling £154,029. The make-up of these grants 15 disclosed in the notes to the accounts. The Foundation has been involved with many activities during the year, some of which are outlined below.. We have contlnued our commltment to dlsadvantaged young people wlth support of.. Home Start M8rton The Generations Foundation has 5UPPOrted its local Home Start tharity over recent years. Home Start provides direct practical and emotional support to families in need with young children and who do not rneet the threshold for statutory services from the local authority. They also work in partnership with the l¢xal authority to help families whose child is subject to a child in needlchild proteclion plan. Home Start's overheads are low as they place trained volunteers alongside parents, providing tailored, personalised support for as long as it is necessary. The Generations Foundation continues to support the great achievements of this charity. Regenerate Regenerate has been supporting young people and families in Roehampton since 2000, helping transfomi lives and communits'es from the inside out. It also helps and supports others who are initiating similar projects on estates across London. It provides positive activities, mentoring and coaching to young people, helping them to gain skills and employment and enabling them to move from a position of disenfranchise to playing a full role in society. In 2014 Regenerate started its first social enterprise company The Feel Good Bakery. In response to trading difficulties posed by COVID the charity established two coffee carts selling
Registered Charity Number.. 1110565 barista quality coffee and food direct to the public. Since then they have opened a coffee shop where young people can secure their first experience of work. Regenerate continue to develop and support young people in their local area. Jlgsaw4U Jigsaw4U have a London Youth golrj qualty aVrd. Very few organisalions achieve this award. In total they supported over 7,000 individuals which included just over three thousand new enquires. This year they have expended the mental health support they offer young people. We are delighted to continue supporting this VRII run and impactFul charity. Chlld Ald We were pleased to support the continuing work of Child Aid who provide support to disadvantaged children in Romania. Prodlgal Bik88 Provide adapted bicycles to school students and teachers across Africa to allow them easier accASS to school. The bikes are prepared in the UK by young people who have left prison. The charity also provides bike parts and trains local people as mechanlcs to keep the bikes in good repair. We were pleased to support the provision bikes to Tanzania. Our support of ecologlcal projects Included: Ubuntu Pathways Is a community Instltutlon provldlng Integrated systems of support across health, educatlon and $oclal servlces In the South Afrlcan area of Gqeberha { formerly Port Ellzabeth). They measure thelr success by graduates who ar8 on track for a healthy and flnanclally sustalnable Ilfe rather than the Inputs the charlty makos to beneflclarle8. We have been pleased to support thls life changlng organlsatlon. Whale Wise We continued support for a new and relatively small charity doing impressive work, SearChing the impact of developments in Iceland on the Whale population. Worfd Land Trust The Trustees were pleased to provide a donation to The World Land Trust to support the John Burton Memorial Fund and their work with Nativa Bolivia in the Chaco of South America. Adminl8tratlon The trustees have continued the servlces of an Admlnistrator to work part tlme for the charity. Plans for Future P•rlod8 The trustees will continue to focus on local Charites wherever possible and remain dedicated to our goals of helping disadvantaged children. In addition, the charity will consider additional ecological support. Publlc Beneflt In setting the Trust's objectives and planning its activities the Trustees have complied with their duties under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The Truste88 consider that the objects of the Trust, the activities outlined in this report and plans for future periods demonstrate public benefit. Reserves policy The Generations Foundation makes its charitable donations from income and capital and incurs administration expense8 and therefore the trustees consider that realised income reserves are required to be retained to meet this commitmenl. This policy 15 regularfy revIevd at trustee meetings held during the year.
Registered Charity Number.. 1110565 Risk management The major risks to which The Generations Foundation are exposed, as identified by the trustees, have been reviewed and syslems have been established to mitigate those risks. Statement of Trustees, Responsibilitles The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charty and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgments and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any materi81 departures disclosed and explained in the financial statements prepare the financial statements on the going concem basis unless it in inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accountlng records that disclose wlth reasonable accuracy at any time the financial posrtion of the charity and enable them lo ensure that the financial statements comply wrth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are a180 responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. We consider the audlt requirements of S144 of the Charfties Act 2011 does not apply. On behalf of the trustees R Finch Dated: bli 024
Registered Charity Number.. 1110565 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GENERATIONS FOUNDATION Independent Examinerfs Report on the Accounts I report on the accounts for the charity for the year ended 5th April 2024. Respectlve responsibilitles of trustees and examiner The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under seth'on 144(2) of the Charits-es Act 2011 and that an Independent Examination is needed It is my responsibility to: examine the accounts under 8ection 145 of the 2011 Act. to follow the procedures18id down in the general directions given by the Charities Commlssion under sects-on 14515) Ib>; and to state whether particular matters have come to my attentlon. Basi8 of Independent examlners report An examination includes a revlew of the accounting records kept by the charlty and a comparison of the accounts presented with those records. It also indudes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent examlnefs Statement In the course of my examination, no matter has Come to my attention: {1) which gives me reasonable cause to belleve that in any material respect the requirements have not been met., to keep accounting records in accordance with section 130 of the 2011 Act. and to prepare accounts which accord wlth the accounting records, and comply with the accounting requirements of the 2011 knt ,or (2) to which, In my opinion. attention should be dravm in orderto enable a proper understanding of the accounts to be reached. Name: Du stanette Kuti FCCA Date: Ili+* Posltion: Community Accountant Community Action Sutton Granfers Community Centre 73-79 Oakhill Road Sutton Surrey, SM13AA
Registered Charity Number: 1110565 THE GENERATIONS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024 Not8 Restricted Funds Unrestricted Funds Total Funds Total Funds 2024 2024 2024 2023 Income from: Donations Investments Total 227,500 726 228,226 2277,500 728 228,226 187,500 187,684 Expendlturo on: Charltable Acts'vitles Total 167,081 167,081 167,081 167,081 219,889 219,889 Net Income l (expenditure) 61,145 81,145 (32,205) Transfer8 between funds Net movement in funds 61,145 61,145 132,205) Total Funds brought foDNard 8,373 8,373 40,578 Total Funds carried foDNard 69,518 69,518 8,373 The statement of flnanclal actlvltles includes all galns and losses In the year. All Incomlng resource5 and resources expended derive from contlnulng activities.
Registered Charity Number: 1110565 THE GENERATIONS FOUNDATION BALANCE SHEEf AS AT STH APRIL 2024 Note 2024 2023 CURRENT ASSETS: Cash at bank and in hand 77,067 9.873 CREDITORS: amounts falllng due wlthln one year Creditors 7,549 1,500 NET CURRENT ASSETS: 69,518 8,373 NET ASSETS 69,518 8,373 THE FUNDS Restricted Unrestricted 69.518 8,373 8.373 69,518 Approved by the Board of Trustees and s18ned on its behalf by: Rohini Finch 2024
RegiSted Charity Number.. 1110565 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 Summa ofsi nlflcant accountin ollcies 1.1 General Information and basis of preparation The Generations Foundation is an unincorporated charity established by trust deed on 1"July 2005. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charily's operations and principal activities are to provide grants to charities which meet the objectives of the charity stated on page 2. The charity constitutes a public benefit entity as defined by FRS 102. The financial ststements 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 (FRS 102} issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally ACpIe Accounting Practice. The charity has applied Update Bulletin 1 as published on 2 February 2016 and doe5 not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the 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 (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charitie8'. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparatlon of these fTnancial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The accounts have been prepared under the historical cost convention and have been prepared in accordance with the Statement of Recommended Practice.. "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" issued on 16 July 2014, and the Charitie8 Act 2011. 1.2 Cost of ralslng fund8 The cost of generating funds consists of governance costs, website funding, and bank charges. 1.3 Income recognltion All income is recognised at the date in which the charity has entitlement to the income., it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations are recognised when the trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fijlfilled in the reporting period.
Registered Charity Number: 1110565 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 (Continued) 1.4 Expendlture recognttlon Liabilities are recognised as expenditure at the date that there is a legal or constructive obligation omitting the charity to the expenditure; it is probable that settlement will be required,. and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Grants payable are payments made to third parties in the furtherance of the chariiable objecls of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Trust. Provisions of grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the ts-ming of the grant or the amount of grant payable. 1.6 Charttable actlvltle8 Costs of charitable activities include grant8 made during the year. 1.6 Incomlng rn8ource8 Incoming resources are included gross on a receivable basis. There are no deferred incoming resources. 1.7 Investment Income Investment income is Included in the statement of financial activitie5 on the accrual basis. 1.8 Accountlng basls The accounts hav8 been prepared on an accruals basis, 2. INCOME FROM DONATION Total Funds Total Funds 2024 2023 Donations ReiVed Gift Aid 190,000 37,500 150,000 37,500 187,500 227,500
Registered Charity Number: 1110585 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 (continued) 3. EXPENDITURE ON CHARITABLE ACTIVITIES Direct Costs Support Costs Total 2024 Totsl 2023 Charftable expenditure Grants & Donations Direct costs (note 4) 154,029 10,700 164,729 2,352 167,081 154,029 10,700 164,729 2,352 167,081 209,418 8,150 217,668 2,321 219.889 Govemance costs (note 5) Charltable grants and donatlons 2024 2023 Grants & Donatlons: Blue Marine Foundation Cppd (Uk) Malawi Schools Tru Momentum Neuro Hamiony Ltd Prostrate Cancer Second Sight Sound Science Research The TIM Henman Foundation Vincent Wildlife Georgina Levers Child Aid Child Bereavement Famham Powerchair JBMF WLT Gkw Dangampolage Home Start Merton Jigsaw4u Lars Bonding Prodigal Bikes Vthale Wise Regenerate Foundation Biodiversidad 25,000 4,410 15,000 5,000 (2,554) 1,000 20,000 19,712 8,760 25,000 4,590 10,000 1,000 3,000 50,000 1,000 15,000 20,000 10,000 5,000 25,000 10,000 4,029 25,000 20,000 10,000 5,000 25,500 154.029 209.418
Registered Charity Number: 1110565 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 (continued) SUPPORT COSTS COMPRISE OF: 2024 2023 Direct costs Office costs 10,200 500 10,700 7,450 700 8,150 6. GOVERNANCE 2024 2023 Independent Examiner Fees Bank Charges 1.865 487 1,550 771 2.362 2.321 2024 2023 NET INCOME EXPENDITURE Independent Examination Costs 1,865 1,550 During the year no Trustees reiVed any remuneration (2023 -Nil) During the year no Trustees received any benefits in kind (2023-Nil) During the year no Trustees received any reimbursement of expenses (2023 -Nil) CREDITORS-Amount8 falllng wlthln one year 2024 2023 Accruals Grants payable 3,520 4,029 7,549 1,500 1,500
Registered Charity Number: 1110565 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 20241contlnued) 7. STATEMENT OF FUNDS At 5th Aprfl 2023 Income Expenditure Transfer At 5th Aprll 2024 Specific Funds General Funds Total UnreBtrlcted Fund8 8,373 .373 228,226 228.226 (187,0811 167,081 1 69,518 69.618 Total Restrlct•d Funds TOTAL FUNDS 8.373 228,226 (167.081) 69,518