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← Norfolk Community Foundation

2023-12-31-accounts

Trustees' Annual Report & Financial Statements For the year ended 31 December 2023

Contents

Trustees' Annual Report

01-13

Independent Auditor's Report 14-16

Aggregated statement of 17 financial activities

Aggregated summary income 18 and expenditure account Aggregated balance sheet 19

18

Cash flow statement 20

Notes to the financial statements 21-46

Reference and administrative details

Name of charity:

Company Secretary:

Norfolk Community Foundation

Edward Savory – resigned as Company Secretary 4th January 2024

Charity registration number: 1110817

NCF Articles of Association do not require the organisation to have a Company Secretary, therefore no replacement has been appointed.

Company registration number:

05234236

Address of principal and registered office:

Chief Executive:

Claire Cullens MBE

1st Floor North, Carmelite House, 2 St James Court, Whitefriars, Norwich, NR3 1SL

Bankers:

Barclays Bank Plc, 3 St James Court, Whitefriars, Norwich NR3 1WX

Trustees:

Auditors:

Fiona McDiarmid – appointed as Chair 4th January 2024 Edward Savory – appointed 4th January 2024

Larking Gowen LLP, 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE

Solicitors:

Tom Burdett – appointed 4th December 2023

Mills & Reeve LLP, 1 St James Court, Whitefriars, Norwich, NR3 1RU

Simon Brickles Jessica Middleton Richard Ross Jennifer Watson Stephen Allen – resigned 4th December 2023 Rosalyn Proops – resigned 4th January 2024

Investment Managers:

Barclays Wealth, Level 15, 1 Churchill Place, Canary Wharf, London E14 5HP Barratt & Cooke Limited, 5 Opie Street, Norwich, NR1 3DW

CCLA, Senator House, 85 Queen Victoria Street, London EC4V 4ET

Simon Bailey - Chair – resigned 4th January 2024

01 Trustees' Annual Report 2023 & Financial Statements

Objectives and activities

increase the overall funding available to the smaller charities and community groups operating across Norfolk.

Aims

The principal objects and activities of Norfolk Community Foundation (NCF) are:

Our vision and mission

The promotion of any charitable purposes for the benefit of the community in the County of Norfolk and its immediate neighbourhood and in particular the advancement of education, the protection of good health both mental and physical, and the relief of poverty and sickness;

NCF exists to build Norfolk communities from the ground up, to be vibrant and equitable with opportunities for all, now and always. For over 19 years the Norfolk Community Foundation (NCF), has been inspiring giving to tackle immediate need and long term social change.

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.

We achieve this by:

Supporting Norfolk’s grassroots charities and community groups with the right funding offer and local leadership they need to sustain, grow and develop their organisations.

The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives, in planning future activities, and setting the grant making policy for the year.

Inspiring local philanthropy and giving through our knowledge of community issues and demonstrating the impact that giving achieves.

Offering accessible, trusted mechanisms to give locally. Working in cross sector partnerships, to convene and broker community change. Building endowment funds to ensure we are able to support communities in perpetuity.

Strategies

Providing a model and framework that encourages donors to engage in charitable work and to deliver their philanthropic aims, NCF encourages new donors and philanthropists to the charitable sector, which serves to

the Foundation’s commitment towards providing public benefit to a wide variety of charitable purposes working across the county.

Significant activities: Building stronger communities

Our partnerships with donors, close working relationships with local which will enable grant giving for grassroots charities and dynamic understanding of community issues term financial public benefit. allowed us to respond to the emerging need throughout 2023 in Norfolk. Our fundraising and grant Resources spent on making activities have been shaped particular activities in response to that need. Our national relationships enabled us to leverage additional funding into Norfolk to match local appetite for support. which 175 are restricted revenue Through its donors and partners NCF provides community investment to enable the work of grassroots staff costs to manage these donor charities and community groups portfolios, including grant making, operating across Norfolk to rapidly respond and continue to function. 73% of total salary costs. £146k of this Grants totalling £4,966k were awarded cost came from external funding to during the financial period (note 6) – support resource in developing NCF this consisted of £4,896k in grants to strategic initiatives including 531 community groups and other Nourishing Norfolk, ProHelp, and voluntary organisations, and £70k to Youth Mental Health and Wellbeing 285 individuals thus demonstrating programmes.

NCF has over £25m of endowed funds which will enable grant giving for many years to come and provide long term financial public benefit.

NCF employs 26 staff members (21 FTE) who manage over 260 donor funds, of which 175 are restricted revenue funds, with the remaining funds being endowment funds (capital). The direct staff costs to manage these donor portfolios, including grant making, cost £639k during 2023, this represents 73% of total salary costs. £146k of this cost came from external funding to support resource in developing NCF strategic initiatives including Nourishing Norfolk, ProHelp, and Youth Mental Health and Wellbeing programmes.

02 Trustees' Annual Report 2023 & Financial Statements

In 2023 NCF has delivered:

Expertise on the local need;

In 2023 Trustees reviewed the NCF strategy and identified key elements of the local role NCF had played in communities during the

Covid response:

and transactional practice. It is appropriate to now build on this and continue to be transformative, which in turn requires operational growth.

This has led to investment and focus in four key areas:

1. Understanding the emerging needs of communities and how they desire change needs to be the starting point of both our own grant making and the support we offer partners. At the end of 2022 we invested in a Community Research role that works with NCF colleagues and VCSE partners to unlock community insight in dedicated areas of research. This role is funded by extending this insight capacity to potential donors and partners.

2. To ensure our donors and supporters are closely connected with emerging need and current community activity, in 2023 the Programmes team who are most closely connected with this activity took a growing ownership of donor care.

3. To grow our role as local convenor of action, we recognise the importance of demonstrating our thought leadership. In key areas of community concern we are developing a series of reports that offer deeper insight into the challenges, complexities and opportunities in such as areas as food poverty, youth mental health and loneliness. The first report on food poverty in Norfolk was published in October 2023.

4. We are committed to continuing to grow NCF’s own strategic initiatives for local action. Informed by our community research these funds offer donors a mechanism for contributing alongside others to programmes that have an established programme of work over the next two years. Strategic funds now exist in the areas of: addressing food insecurity, developing skills, tackling youth mental health, supporting communities to undertake environmental projects and providing connection and warm spaces during Winter.

03 Trustees' Annual Report 2023 & Financial Statements

Community investment policy

Community investment refers to the money, time, skills and expertise we invest in strengthening and supporting communities.

Community investment is delivered by Norfolk Community Foundation (NCF) in partnership with a range of individuals, public, private and voluntary sector bodies and other donors who wish to support good causes in Norfolk. Our community investments are primarily delivered through grant programmes for charitable organisations, but also includes the offer of professional volunteering support, professional partnership and community research, and funding to individuals, amongst other activities.

This policy recognises that giving through NCF can take a range of forms with the marriage of the aspirations, expertise and circumstances of the donor, and the recognised community need. However, we administer all of our community investments in line with the following core principles:

How does community investment happen?

1. Knowledge

NCF strives to ensure that our community investments are informed and responsive. We exist to meet the needs of a range of different communities. These include the geographical communities across Norfolk, as well as communities of people who may share characteristics or interests. Our work is underpinned by community research, our trusted relationships with VCSE organisations, our own data, sector experts and other stakeholders to help grow our knowledge and shape our priorities for action.

2. Relationships

Through our relationships across sectors we seek to leverage support for the voluntary and community sector, to invest in charitable activity. We look to build upon local assets and

believe everyone has something to share to make Norfolk a great place to be.

For example, we deliver funding programmes in partnership with statutory bodies that look to address particular needs, we work with corporates to unlock volunteering and in-kind support, and we work with individuals who want to see great things happen on their doorstep.

As well as funding projects and convening partners for social good, we also support the VCSE sector to thrive by offering infrastructure support tailored to meet the needs of local groups. This could be through facilitating seminars and workshops, giving 1:2:1 advice, matching professional support with organisations that need it, or supporting organisations to grow and flourish with funding, feedback and advice.

3. Delivery

We deliver community investment through:

Our Strategic initiatives, which are areas of focus for funding and activity, responding to emerging needs in Norfolk.

Grant funding programmes for VCSE organisations (this may be through organisations responding to an open call for applications, or through the instruction to support projects directly from fund-holders).

Grant funding programmes for individuals.

ProHelp brokerage of pro bono business support and VCSE organisations.

We are committed to continuous review to ensure our community investments deliver real benefit for local people, and the places where they live. NCF measures the impact and outcomes of our work by encouraging our partners, individuals and communities, to tell us about their experience of working with us, any activities they may have delivered, and what has changed as a result of our investment.

This knowledge informs our relationships and delivery approach, meaning we are always at the forefront of best practice in community investment.

04 Trustees' Annual Report 2023 & Financial Statements

Fundraising

As a fully accredited member of the UKCF (United Kingdom Community Foundations), and one of 47 Foundations operating across the UK. NCF are clear about how any donations or gifts will be used and uphold the rights, dignities and privacy of all supporters and beneficiaries. No undue pressure is applied to prospective donors to make gifts, and we respect the decisions of those who decide not to give or wish to cease giving.

NCF does not employ professional telephone or street fundraisers or commercial participators to carry out our fundraising activities nor does the Foundation directly approach members of the public.

NCF complies with all relevant statutory regulations, including the Charities Act 2011, Data Protection Act 1988, GDPR and the Privacy and Electronic Communications Regulations 2003. We are committed to act in ways that are legal, open, honest and respectful – striving for best practice in fundraising by complying with a range of codes of practice, including being registered with the Fundraising Regulator, adhering to its Code of Fundraising practice and Fundraising promise. This includes logging, recording, and responding to any complaints.

05 Trustees' Annual Report 2023 & Financial Statements

Achievements and performance

Together, Norfolk Shines Brighter

In the past year, the Norfolk Community Foundation has made significant strides in supporting local communities. Through targeted grants and partnerships, we've addressed critical issues such as food insecurity, mental health, and loneliness. Our initiatives have not only provided immediate relief but have also empowered grassroots organisations to build sustainable solutions to the challenges local communities are facing.

Looking ahead, our focus is on deepening these impacts. We aim to enhance our support for youth development programs, foster

innovation in community-led projects, and expand our reach to underserved areas. By leveraging data-driven strategies and amplifying local voices, we hope to create more integrated and inclusive communities. Our commitment to collaboration and continuous improvement will guide us in making Norfolk a better place for all.

In 2023 Norfolk Community Foundation continued to make a growing impact in Norfolk Communities with its grant making, support, and strategic initiatives. We calculate that our funding benefitted approximately 1 in 5 people across Norfolk. Although there are many areas of benefit that our work supports, we have broken down our impact into four primary areas of focus.

2023 grantmaking highlights

£4.9m 1,353 distributed in grants grants awarded

285 individuals received funding

531

community organisations received funding

06 Trustees' Annual Report 2023 & Financial Statements

Norfolk’s low-skill, low-wage economy holds people back. We help break down barriers and bring the workplace within reach, giving people a chance to succeed in life.

During 2023 Norfolk Community Foundation gave grants totalling £635k to charities and community groups for projects where the primary focus was providing support in this area.

From getting absolute essentials like food to accessing further support and finding community on their doorstep, we help communities find solutions that bring people together to improve lives where they are.

During 2023 Norfolk Community Foundation awarded a total of £1,559k to charities and community groups for projects where the primary focus is to tackle poverty in the lives of individuals.

One piece of research...

On International Women’s Day, we surveyed over 300 Norfolk women and girls, gathering insights, both positive and negative, about their experiences. We also created a focus group fund, engaging over 100 women in safe, female-only environments to delve deeper into their experiences with help from community groups. The response was overwhelmingly positive, leading to rich insights. From this, we generated a 27-page report analysing survey data and focus group feedback to shed light on the current situation for women and girls in Norfolk. This report will guide our grant funding in 2024 and beyond.

One story...

Sometimes, people need extra support to engage with work. ‘Andy’, who had experienced living in care, found employment thanks to Break’s CoffeeBreak project, which we supported through our West Norfolk Employment Fund. Andy gained customer service experience on the CoffeeBreak van and went on to paid employment – but it didn’t work out. He returned to the van where he was supported to find another job. He loved the job but found the work difficult to cope with. After a conversation with CoffeeBreak lead Joe, Andy had the confidence to speak to his employer, who found him a more suitable role in the same company. Without this support, Andy said he would have ‘thrown in the towel’ rather than remain in employment.

One initiative...

This year, our Nourishing Norfolk program exceeded expectations. We launched our first food hub in Thetford in 2020, and by the end of 2023 this had expanded to 22 hubs across Norfolk, including in King’s Lynn, Holt, Watton, and Norwich. By the end of 2023, these hubs were supporting nearly 27,000 people with affordable food. Partnering with Norse Group has been transformative, providing crucial warehouse space and food delivery. Their support saved Norfolk households over £500,000 on shopping bills last year. With 70 product lines available, hubs can reliably offer low-priced food. Over 45 tonnes of food were sent from the warehouse in 2023.

One approach...

Since 2020, we have been working with communities to establish Nourishing Norfolk food hubs. In 2023, with a fully operational warehouse and distribution hub provided by Norse Group, we fed Norfolk through 22 affordable food hubs.

By giving access to affordable, nutritious food, they reduce financial strain, empowering individuals and families to begin to address the root causes of food insecurity. By offering additional support, fostering community, and fighting poverty through grassroots action, food hubs can take communities from surviving to thriving.

7 food hubs opened and 27,000 people supported 10,000 registered families £50 per-head for food and support

07 Trustees' Annual Report 2023 & Financial Statements

Our grassroots funding empowers communities to create spaces and gives people a reason to connect locally. We help create the foundations for stronger, more resilient communities by nurturing local connections and relationships.

During 2023 Norfolk Community Foundation invested £1,739k into building Norfolk communities.

One community...

One programme...

North Walsham Good Neighbour Scheme is a group which provides free help and support to elderly and other vulnerable residents. They received some of our Love Norfolk funding to help maintain their IT systems, a central component of their volunteerrun service. Thanks to their service, local people have received vital support and become less isolated, helping them to maintain independence and dignity, ultimately leading to a better quality of life in their community.

We continue to bring people together to invest in grassroots action. Through our Love Norfolk programme alone, we helped over 100 local grassroots groups do amazing things in their community, from providing community lunches and helping older people find friendship to helping parents deal with bereavement and supporting people affected by domestic abuse. Around 50,000 people in Norfolk benefitted from this funding. Love Norfolk is possible thanks to our Norfolk 100 members, private donors and people who give what they can.

In the face of increasing strains on healthcare services, it's essential to acknowledge that improving public health goes beyond clinical settings. We can empower communities to take proactive steps to address both physical and mental health challenges, helping individuals to lead healthier lives.

During 2023 Norfolk Community Foundation awarded £1,006k in grants to organisations where the primary focus was supporting people to achieve a healthier lifestyle.

One life changed...

One initiative...

At 13, ‘Jim’ sought help from his GP due to concerns about his relationship with food. It was agreed that his needs would best be met by Eating Matters, a local charity offering counselling for young people with mild to moderate eating disorders. The service saw a huge rise in demand due to the pandemic. Jim underwent 20 weeks of therapy to address self-esteem issues and understand why he used food as a means of control. With support, Jim’s behaviours and feelings around food and eating improved considerably. His wellbeing scores showed significant improvement, highlighting Eating Matters' vital role in guiding him towards better mental and physical health. "My food and self-esteem have improved a lot which has made me more confident and open up more." - ‘Jim’, Eating Matters client

Over the past three years, the Sir Norman Lamb Coalition for Young People has empowered local organisations through funding, resources, and fostering connections, empowering groups to address youth wellbeing challenges effectively. This year, we made funding go further by collaborating with the Police Crime Commissioner, to create the Supporting Positive Activity and Community Engagement (SPACE) Youth Fund, awarding grants to 6 organisations in Norfolk supporting young people to help prevent antisocial behaviour. Combined with regular funding, a total of £500,000 was allocated to youth wellbeing programmes.

08 Trustees' Annual Report 2023 & Financial Statements

Financial review

on growing strategic initiatives, led to a significant increase in grant making. The additional donations and a large trust transfer at the end of 2022 further boosted the Foundation’s resources.

Financial position

Norfolk Community Foundation continues to benefit from the generosity and support of Jarrold & Sons Limited through the provision of office space within their offices at St James Mill rent free. Although an annual service charge is paid.

This led to 2022 to being an exceptional year in growth for the Foundation. Therefore, a reduction in donations and grant making in the following period was not unexpected. NCF is responsive to community needs and opportunities variations year on year are a part of the natural ebb and flow in the lifecycle of the Foundation.

The financial position of the Foundation is shown in the Statement of Financial Activities on page 17 and the balance sheet on page 19. The level of donations and grants received for the Endowment and Restricted funds in the period to 31 December 2023 totalled £6,032k. Core unrestricted funds expenditure amounted to £1,117k, donations and unrestricted investment income to core costs totalled £117k, creating a deficit of £1,000k in the net

NCF’s ability to adapt and respond to these changes demonstrates its resilience and commitment to its mission. It is crucial to continue focusing on strategic initiatives and exploring new opportunities for partnerships and funding to ensure NCF’s sustainability and impact.

NCF received direct support to its costs totalling £284k (£117k direct, plus £167k of transfers) in 2023. This enables NCF to keep contributions from

expenditure at the year end. However, this was offset by £892k of transfers, which resulted in a deficit of £108k at the year end. This remaining deficit was a planned spend from the designated funds set aside for growth and development. The financial position overall at the end of the period is considered satisfactory.

donations to 10% meaning that 90p in every £1 goes directly to the projects and community groups we support.

Reserves policy

In 2022 due to the management of one-off programmes following the Coronavirus pandemic, these circumstances, coupled with the focus

The Trustee’s policy is to retain general fund reserves (cash balances, current assets less current liabilities)

equivalent of approximately 6 months annual operating expenditure, which equates to £463k. The balance held as unrestricted funds at the 31 December 2023 was £710k, which is made up of £504k free reserves and £206k designated funds.

The retention of a level of reserves of approximately 6 months was approved in 2021 by the Trustees. This decision was taken to reduce free reserves and to designate funds for the future growth, sustainability and continuity of the Foundation, and to invest any surplus. 2023 was year two of a five strategic year plan, which sees the Foundation moving to transformational ways of working. Both the level of designated and free reserves are monitored on a quarterly basis and reviewed annually by the NCF Risk and Audit Committee.

The total funds held by NCF at the end of this reporting period are £30,003k, which comprises £710k unrestricted, £4,053k restricted and £25,240k endowment.

Investments policy and performance

Investments are held in accordance with the powers of the Trustees set out in the Articles of Association. Investment policy is to maximise the return on the portfolio while ensuring that the level of risk is moderate. The NCF Audit & Risk Committee has

delegated authority from the Board to oversee the management of NCF’s investments and cash balances. The Board has appointed Barclays Wealth, Barratt & Cooke Limited, and CCLA as Investment Managers. The NCF Audit & Risk Committee review NCF’s Investment Policy annually, to ensure compliance with the Charity Commission, to assess it is meeting NCF charitable objectives and to consider socially responsible investing options.

The charity instructs all investment advisors to invest over a long term. Across all investment managers, the charity holds a mixed portfolio of equities, bonds, and cash accounts which have been set up to provide a reasonable level of income for grant making of around 3-4%.

Donors who hold Community First endowment funds that are invested through CCLA can choose to take advantage of an annual drawdown if there is an excess of RPI gain over the market value of the fund. Other fundholders drawdown during the year in line with their grant making objectives. In 2023, a total of £1,098k was drawdown from the investments for grant making.

The Trustees are pleased that the markets performed better in 2023, seeing a growth in the NCF investment portfolio of 7%.

09 Trustees' Annual Report 2023 & Financial Statements

Estimates and Judgements Policy

The Norfolk Community Foundation's financial statements require management to make judgements and estimates impacting reported income, expenditure, assets, and liabilities. These are based on historical data and current knowledge, though actual outcomes may differ.

Significant Judgements and Estimates

Key areas involving estimates and judgements include:

Valuation of Investments: Fair value determined by market prices for listed securities or estimation techniques for unlisted securities.

Recognition of Legacy Income: Income recognised when receipt is probable, entitlement is established, and the amount can be estimated reliably.

Provisions and Contingent

Liabilities: Judgements on existing obligations, probable outflows, and reliable estimates of amounts.

Depreciation and Amortisation: Based on the estimated useful lives of assets, considering factors like usage and obsolescence.

Grants Payable: Recognised when there is a constructive obligation, considering grant terms and application stages.

Basis of Estimates

Estimates and assumptions are reviewed regularly. Revisions are recognised in the period of change and future periods if applicable.

Critical Accounting Judgements

Key judgements made by management include:

Classification of Expenditure:

Determining whether costs are charitable activities, governance, or support based on their nature and purpose.

Fund Classification: Deciding if funds are restricted or unrestricted based on donor restrictions and funding agreements.

Disclosure

The financial statements disclose significant estimation uncertainties and critical judgements to provide transparency and enhance understanding.

The aim is to ensure the financial statements reflect a true and fair view of the Foundation's financial performance and position.

Risk management

The Trustees regularly review all risks to which the charity is exposed. A risk register is held which identifies the levels of risk which could impact NCF and its ability to function. As a charity and a company limited by guarantee, NCF is fully aware of risk around compliance and regulations, including timely annual returns to Companies House and the Charity Commission and important issues such as data protection.

Annual internal IT and Cyber security reviews are carried out and changes to strengthen internal processes are implemented as necessary.

The cost of living crisis has caused economic uncertainty, which could affect philanthropic giving moving forward, and potentially be a challenging risk. However NCF are committed to continue to grow in knowledge of the needs within the local community, so that we can adapt accordingly to support our grass roots charities. This enables us to attract funding and be trusted by our donors to channel funding to where it is needed most. NCF look for ways to diversify income streams so that it is not over reliant on any one source of income.

There will always be unforeseen situations but the Trustees have always adopted a moderate attitude

towards investments to provide donors with a realistic level of investment income to enable adequate grant giving. In response to the risks identified, a five year plan has been drawn up to look into securing funding for the future to ensure the sustainability of NCF.

NCF have demonstrated versatility, which has raised its profile as a trusted partner to deliver funding to where it is needed, whilst carrying out the necessary due diligence. It is hoped that this reputation will enable NCF to continue to attract funding

from a range of sources moving forward. Due to diligent management Norfolk Community Foundation has strong financial resilience.

10 Trustees' Annual Report 2023 & Financial Statements

Structure, governance and management

On 13 December 2010, The Norfolk Community Foundation Permanent Endowment Trust was set up to hold permanent funds on behalf of the Foundation, including certain trusts being transferred from Norfolk County Council. The Foundation is the sole trustee of the Trust. On 11 March 2011 The Norfolk Community Foundation Permanent Endowment Trust was registered with the Charity Commission and a uniting order was made by the Charity Commission on 8 July 2011 allowing endowment funds to be consolidated with the financial statements of the Foundation from that date.

Constitution

Norfolk Community Foundation (“the Foundation”) is established as a company limited by guarantee and was incorporated on 17 September 2004. It is registered as a charity with the Charity Commission (registered on 10 August 2005). The affairs of the Foundation are governed by its Articles of Association and managed by a Board of Trustees, who are also the Directors and Members of the company. The liability of the members in the event of NCF being wound up is limited to a sum not exceeding £1.

Recruitment and appointment of Trustees

The Trustees are nominated for election because of the skills, expertise and local knowledge that they can bring to guiding the charity to fulfil its objectives. In 2020 Norfolk Community Foundation moved to a policy of open trustee recruitment, to ensure a fair and transparent process. Under the terms of the Articles of Association, a Trustee (Director) is elected to hold office for three years and is eligible for re-election for up to a further three years. All Trustees complete a skills audit, so gaps relating to retiring Trustees can be identified and built into future trustee recruitment.

A retiring director can be reappointed for a second three year

term if agreed by the Board. At the end of a second three year term, a director shall be re-appointed for a further year if the Board resolves by a simple majority that exceptional circumstances apply and it is in the best interests of the charity for the director to be re-appointed. No director shall serve more than seven years unless the Board resolves by a 75 percent majority that exceptional circumstances apply and it is in the best interests of the charity for the director to be re-appointed for a specified term.

All Trustees (directors) named on page 1 held office throughout the year, except where dates indicate otherwise.

11 Trustees' Annual Report 2023 & Financial Statements

Induction and training of Trustees

On appointment all Trustees are provided with a Trustees Induction Pack which includes the Articles of Association, a copy of the latest financial statements, a copy of the most recent impact report, our marketing material and relevant policies on the role and responsibilities of being a Trustee. All new Trustees are encouraged to look at the Charity Commission website for

detailed information, help and advice on their role as a Trustee.

All Trustees are invited and encouraged to attend an annual training session or/and an annual away day intended to familiarise them with the charity and the context within which it operates. Trustees are also encouraged to attend other training seminars held locally for charity trustees and to read newsletters and articles published by the Charity Commission, UKCF (the Community Foundation umbrella body) and other advisory bodies.

Organisational structure

The Board of Trustees meets quarterly. Between these main board meetings, business is conducted through a sub committees who provide reports on activity for approval of the full board. These committees are as follows:

Audit & Risk Committee People and Nominations Committee

2023 saw the introduction of an Audit

and Risk Committee replacing the former the Management and Finance Committee. And a newly formed People and Nominations Committee was established.

The day-to-day management of NCF in 2023 was conducted by a full time Chief Executive who was supported by Head of Programmes, Head of Philanthropy, Head of Finance and Operations, and Director of Programmes and Insight, all of whom are supported by the Programmes, Finance, Marketing and Giving Teams. The Chief Executive and office staff are supported by a full time Office Manager.

The Trustees have delegated authority to the Executive Team for grants under £25,000, after ratifying the process. A full list of the grants that are ratified by the Executive Team are made available to the Trustees on a monthly basis and at quarterly board meetings.

Remuneration of key management personnel

The Board considers the key management personnel in charge of directing and controlling NCF to comprise the Trustees and the Management Team led by the Chief Executive; with the Chief Executive running and operating the charity on a day to day basis.

The pay of all staff is reviewed annually by the People and Nominations Committee who make

recommendations to the Board of Trustees, in line with NCF Pay Policy.

All trustees give their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 9.

Related parties

Norfolk Community Foundation is a member of the UK Community Foundation (UKCF). Established in 1991, UKCF is the national network linking, promoting and supporting over 47 community foundations in England, Northern Ireland, Scotland and Wales.

Trustees, staff and non-Trustees who sit on committees are required to disclose all relevant outside interests which are recorded in a policy document and updated annually. Where a conflict of interest exists, trustees withdraw from decisions.

Trustees’ Responsibilities Statement

The trustees (who are also directors of Norfolk Community Foundation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report, including the Strategic Report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for

each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure with reasonable accuracy at any

12 Trustees' Annual Report 2023 & Financial Statements

time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as each of the trustees is aware:

there is no relevant audit information of which the charitable company’s auditor is unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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

Auditor

Larking Gowen has expressed their willingness to continue in office as auditor.

Signed: Fiona McDiarmid, Chair Date:

13 Trustees' Annual Report 2023 & Financial Statements

Independent auditor's report to the members and Trustees of Norfolk Community Foundation

the year then ended;

Opinion

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

We have audited the financial statements of Norfolk Community Foundation (the ‘charitable company’) for the year ended 31 December 2023 which comprise aggregated Statement of Financial Activities (incorporating the income and expenditure account), the charity aggregated balance sheet, the cash flow statement, and notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

have been prepared in accordance with the requirements of the Companies Act 2006 and Charities Act 2011.

Basis for opinion

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

In our opinion the financial statements:

give a true and fair view of the state of the group’s and parent company’s affairs as at 31 December 2023, and of the group’s incoming resources and application of resources, including its income and expenditure, for

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to

determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the trustees’ annual report has been prepared in accordance with applicable legal requirements.

14 Trustees' Annual Report 2023 & Financial Statements

Matters on which we are Responsibilities of required to report by Trustees exception

As explained more fully in the Trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

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

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Because of the field in which the charitable company operates, we identified the following areas as those most likely to have a material impact on the financial statements: data protection, UKCF accreditation, and compliance with the UK Charity and Company Law. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including

fraud is detailed below:

enquiries with management and trustees about any known or suspected instances of noncompliance with laws and regulations and fraud; review of board and subcommittee minutes; reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; challenging assumptions and judgements made by management; and auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

15 Trustees' Annual Report 2023 & Financial Statements

A further description of our

responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable

company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Signed: Julie Grimmer FCA DChA, Senior Statutory Auditor for and on behalf of Larking Gowen LLP, Statutory Auditors, Chartered Accountants, Norwich Date: 10 July 2024

16 Trustees' Annual Report 2023 & Financial Statements

Aggregated statement of financial activities for the year ended 31 December 2023

Unrestricted Funds
£000
Restricted Funds
£000
Endowment Funds
£000
2023 Total
£000
2022 Total
£000
Notes
Income and endowments:
Donations towards core costs
Other donations
Gift Aid
Investment income
Total income
Expenditure on:
Raising funds
Charitable activities:
Grants awarded
Support costs
Governance costs
Total expenditure
Net income/(expenditure) and net movement in
funds before gains and losses on investments
Net gains/(losses) on investments:
Realised
Unrealised
Net income/(expenditure) before transfers
Transfers between funds
Net movement in funds
Reconciliation of Funds:
Total funds brought forward
Total funds carried forward		 -
62
15
40
2
3
4
-
5,658
79
501
-
287
8
191
-
6,008
102
733
20
6,784
96
664
117
6,238
486
6,843
7,564
225
-
802
90
5
5
5
5
216
4,966
-
-
6
-
-
-
447
4,966
802
90
273
5,641
652
75
1,117
5,182
6
6,305
6,641
(1,000)
-
-
11
11
1,056
-
-
480
29
1,764
538
29
1,764
923
(102)
(2,650)
(1,000)
892
17
1,056
(337)
2,273
(555)
2,329
-
(1,829)
-
(108)
818
17
719
3,335
1,718
23,522
2,329
27,675
(1,829)
29,504
710
17
4,053
25,240
30,003
27,675

All recognised gains and losses are included in the Statement of Financial Activities above and relate to continuing operations. The notes on pages 21 to 44 form part of the financial statements.

17 Trustees' Annual Report 2023 & Financial Statements

Aggregated summary income and expenditure account for the year ended 31 December 2023

2023 Total
£000
2022 Total
£000
Income
Transfer from Endowment Funds
Gross income in the reporting period
Total expenditure in the reporting period
Net income/(expenditure) for the year		 6,357
555
6,636
182
6,912
6,818
(6,305)
(6,641)
607
177

Aggregated statement of recognised gains and losses for the year ended 31 December 2023

2022 Total
£000
2023 Total
£000		 2022 Total
£000
2023 Total
£000
Net income/(expenditure) for the year
Net movement in Endowment Funds
Net movement in Funds		 607
(1,718)
177
(2,007)
2,325
1,830

The notes on pages 21 to 44 form part of the financial statements.

18 Trustees' Annual Report 2023 & Financial Statements

Charity aggregated balance sheet at 31 December 2023

Norfolk Community Foundation Company number 5234236

Charity Company
£000
Charitable Trust
£000
2022 Aggregated Total
£000
2023 Aggregated Total
£000
Notes		 Charity Company
£000
Charitable Trust
£000
2022 Aggregated Total
£000
2023 Aggregated Total
£000
Notes
Th t 21 t 44 f t f th fiil
Fixed assets
Tangible assets
Investments
Current assets
Debtors
Stock
Cash at bank
Liabilities
Creditors: amounts falling due within one year
Net current assets
Total assets less current liabilities
Total net assets
Income funds
Unrestricted funds
General funds
Restricted funds
Endowment funds
Permanent Endowments
Expendable Endowments
Total funds		 10
11
57
23,067
-
2,258
57
25,325
212
25,313
23,124
2,258
25,382
25,525
12
379
29
4,267
200
-
-
579
29
4,267
375
2,079
4,675
200
4,875
2,454
13
(254)
-
(254)
(304)
4,421
200
4,621
2,150
27,545
2,458
30,003
27,675
27,545
2,458
30,003
27,675
14
15
15
709
4,053
-
22,782
-
-
2,458
-
709
4,053
2,458
22,782
818
3,335
1,568
21,954
15
27,545
2,458
30,003
27,675
tt Th fiil ttt d b th Bd d thid f i
1 July 2024

1 July 2024

The notes on pages 21 to 44 form part of the financial statements. The financial statements were approved by the Board and authorised for issue on _______ and signed on its behalf by:

Fiona McDiarmid, Chair Tom Burdett, Trustee

19 Trustees' Annual Report 2023 & Financial Statements ................................................................. .................................................................

Cash flow statement for the year ended 31 December 2023

Notes
2023
£000
2022
£000		 Notes
2023
£000
2022
£000
Net cash used in operating activities
Cash flows from investing activities:
Interest and dividends from investments
Purchase of listed investments
Proceeds from sale of listed investments
Net (increase)/reduction in cash deposit investments
Purchase of tangible assets
Proceeds from sale of tangible assets
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 a
(458)
733
(860)
1,212
1,429
(18)
150
2,646
(187)
664
(1,760)
1,212
(669)
(180)
-
(733)

2,188
2,079
(920)
2,999
b
4,267
2,079
a. Reconciliation of net income/(expenditure) to net
cash inflow from operating activities		 2023
£000
2022
£000
Net income/(expenditure) for the year
Adjustments for:
(Gains)/losses on investments
Dividends and interest from investments
Depreciation charges
(Increase)/decrease in stocks
(Increase)/decrease in debtors
(Decrease) in creditors
Net cash provided by/(used in) operating activities		 2,331
(1,821)
(733)
23
(30)
(204)
(1,829)
2,724
(664)
19
-
(186)
(24)
(251)
(458)
(187)
b. Analysis of cash and cash equivalents
2023
£000
2022
£000
Cash in hand 4,267
4,267
2,079
2,079

20 Trustees' Annual Report 2023 & Financial Statements

(unrestricted) fund.

Notes forming part of the financial statements for the year ended 31 December 2023

1) Accounting policies Basis of accounting

charitable company is sole trustee of the trust and accordingly is not the beneficial owner of the trust's assets. The Uniting Direction, contained in the 2011 scheme, requires the charitable company to file one set of financial statements aggregating the results of the charitable company and the trust. Information in respect of the trust has been identified separately within these financial statements to allow proper identification of the assets and liabilities of the charitable company and its subsidiaries as required by the Companies Act 2006. The charity aggregated balance sheet separately identifies the assets relating to the trust.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Norfolk Community 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 Charity Commission, in a Scheme dated 8 July 2011, issued a Uniting Direction such that the financial statements should show the aggregation of the results of Norfolk Community Foundation ("the charitable company") and The Norfolk Community Foundation Permanent Endowment Trust ("the trust") for submission to the Commission. The

The most significant areas of

adjustment and the assumptions that affect items in the accounts that are to do with estimating whether there is any liability from multi-year grants with respect to the next reporting period, the most significant area of uncertainty that affects the carrying value of assets held by the trust are the level of donations, the level of investment return and the performance of investment markets.

Going concern

The trustees have considered the charity’s position at the time of signing the financial statements as well as the current financial strength of the charity.

Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements, they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are those funds that can only be used for particular restricted purposes within the objects of the Foundation. Restrictions arise when specified by the donor or when funds are raised for particular

restrictive purposes. In accordance with the terms of donor agreements, interest received on restricted fund balances is credited to the general

Expendable endowment funds are expendable funds that are held by the Foundation for long term investment and are represented by investments and cash deposits. Some large funds have separate investment portfolios whilst the remainder form one Group Portfolio for investment purposes. In order to balance the needs of present and future beneficiaries the Foundation has adopted the following policy for the Group Portfolio:

(a) Income and capital appreciation / depreciation are allocated to the individual funds at the year end.

(b) A contribution to core costs as agreed with the original donor (normally 1%) is made by each fund and transferred to the general fund towards the running costs of the Foundation.

(c) An amount representing a percentage of the fund at the beginning of the year (or proportionately for funds received during the year) is transferred to restricted funds for grant-making. The percentage is decided annually by the Trustees and is currently 4%.

21 Trustees' Annual Report 2023 & Financial Statements

Permanent endowment funds, where the dividends provide the income for grant making, have increased with the four year Community First government match funding programme. A feature of this programme allows one drawdown a year of any gain over the retail price indexed figure for each portfolio.

The Norfolk Community Foundation Permanent Endowment Trust “The trust” is a charitable trust, which holds donations of permanent endowments to the Foundation. This will enable several historic trusts to be transferred to the Foundation. The Foundation is sole trustee of The Trust (registered charity number 1110817-1) and all the activities of the charity have been aggregated on a line by line basis in the Statement of Financial Activities and Balance Sheet.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

Grants, donations and gifts are included in full in the Statement of Financial Activities when receivable. Grants, where

entitlement is not conditional on the delivery of specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated equipment, services and facilities 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. Investment income is included when receivable.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Grants payable are recognised as expenditure when the grant is approved.

Costs of raising funds comprises the costs associated with attracting voluntary income. Charitable expenditure comprises those costs incurred by the charity and the delivery of its activities and services for its beneficiaries. It includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those 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 reflect the use of the resource. Costs relating to a particular activity are allocated to that activity whilst others are apportioned on an appropriate basis.

Tangible fixed assets and depreciation

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. Land is not depreciated.

Computer & office equipment

25% reducing balance

Website

3 years straight line basis

Furniture & fixtures

25% reducing balance

Financial instruments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their

fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Trustees appoint Barclays Wealth, Barratt & Cooke Limited, CCLA and M&G as Investment Managers to manage the investments on a discretionary basis. All adopt a cautious to moderate risk.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities within particular sectors or sub sectors.

Cash at bank and in hand

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

Debtors

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

22 Trustees' Annual Report 2023 & Financial Statements

measured initially at fair value, net of transaction costs, and are measured subsequently as amortised cost using the effective interest method, less any impairment.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Short term creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Other financial liabilities are measured at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

As a registered charity, the Foundation is generally exempt from income tax and capital gains tax, but not from VAT.

an accruals basis.

Legal status of the Foundation

The Foundation is a private company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2) Donations towards core costs

Donations and grants towards core costs total £Nil (2022: £20k), all is unrestricted (2022: all).

Norfolk Community Foundation acknowledges generous donations and grants towards core costs from the following:

The Privy Purse The Charles Littlewood Trust The Lady Hind Charitable Trust The Manor Trust Jarrold & Sons Limited

In addition, amounts totalling £891k were transferred from the Endowment and Restricted Funds, in accordance with the fund agreements, as contributions to core costs. These amounts are included in the transfers line of the Statement of Financial Activities:

2023 2022
£000 £000
Endowment Funds 555 182
Restricted Funds 336 572
891 754

Pensions

The Foundation contributes to individual personal pension plans on behalf of its employees. The contributions payable by the Foundation are charged to the Statement of Financial Activities on

23 Trustees' Annual Report 2023 & Financial Statements

3) Other donations and grants

Current year Unrestricted Funds
£000
Restricted Funds
£000
Endowment Funds
£000
2023
£000
For grant making and endowment funds
Donated services		 25
5,707
295
6,027
52
30
-
82
77
5,737
295
6,109
Prior year Unrestricted Funds
£000
Restricted Funds
£000
Endowment Funds
£000
2022
£000
For grant making and endowment funds
Donated services		 12
5,944
771
6,727
56
-
-
56
68
5,944
771
6,783

4) Income from investments

Investment income was £732k (2022: £664k) of which £40k was unrestricted (2022: £10k), £501k was restricted (2022: £500k) and £191k to endowment (2022: £154k).

24 Trustees' Annual Report 2023 & Financial Statements

5) Expenditure

Current year Costs of raising funds
£000
Costs of charitable activities
£000
Total 2023
£000
Governance costs
£000
Basis of
allocation
Grants awarded (note 6)
Support costs allocated to activities
Salaries and pension costs
Premises Expenses
Other office expenses
Training and conferences
Recruitment costs
IT & computer costs
Advertising and marketing
Printing costs
Website development
Publications and subscriptions
Telephone & postage
Travel & accommodation
Insurances
Professional fees
Depreciation
Audit & Accountancy
Cost of Charitable Activities
Nourishing Norfolk Hub Expenses
Restricted Fund
Revenue Fund costs
Total (including grants)		 Direct
-
4,938
-
4,938
Staff time
Staff time
Staff time
Staff time
Staff time
Staff time
Direct
Direct
Staff time
Staff time
Staff time
Staff time
Staff time
Staff time
Staff time
Direct
176
19
2
2
-
9
-
2
-
1
1
1
-
7
5
-
645
71
7
8
-
9
2
2
-
5
4
5
2
27
17
-
60
5
-
1
-
2
-
-
-
-
-
-
-
2
1
17
881
95
9
11
-
20
2
4
-
6
5
6
2
36
23
17
225
-
804
28
88
-
1,117
28
222
-
-
222
447
5,570
88
6,305

Total (including grants)

Expenditure on raising funds was £447k (2022: £273k) of which £225k was unrestricted (2022: £179k) and £222k was restricted (2022: £94k).

Expenditure on charitable activities was £5,768k (2022: £6,293k) of which £802k was unrestricted (2022:£652k) and £4,966k was restricted (2022: £5,641k).

Expenditure on governance costs was £88k (2022: £75k) of which all was unrestricted (2022: all).

25 Trustees' Annual Report 2023 & Financial Statements

5) Expenditure

Prior year Costs of raising funds
£000
Costs of charitable activities
£000
Total 2022
£000
Governance costs
£000
Basis of
allocation
Grants awarded
Support costs allocated to activities
Salaries and pension costs
Premises Expenses
Other office expenses
Training and conferences
Recruitment costs
IT & computer costs
Advertising and marketing
Printing costs
Website development
Publications and subscriptions
Telephone & postage
Travel & accommodation
Insurances
Professional fees
Depreciation
Audit & Accountancy
Restricted Fund
Revenue Fund costs
Total (including grants)		 Direct
-
5,641
-
5,641
Staff time
Staff time
Staff time
Staff time
Staff time
Staff time
Direct
Direct
Staff time
Staff time
Staff time
Staff time
Staff time
Staff time
Staff time
Direct
138
18
1
-
1
4
1
-
1
-
1
1
2
7
4
-
505
66
6
2
2
13
1
2
1
2
3
4
7
24
14
-
51
4
-
-
-
1
-
-
-
-
-
-
1
2
1
15
694
88
7
2
3
18
2
2
2
2
4
5
10
33
19
15
179
94
652
-
75
-
906
94
273
6,293
75
6,641

26 Trustees' Annual Report 2023 & Financial Statements

6) Grants payable

Grants totalling £4,938,197 were awarded during the year (2022: £5,640,937).

£4,868,535 to 531 different community groups and other organisations (2022: £5,566,731 to 637).

£69,663 to 285 individuals, primarily through carers grants available from the Norfolk Millennium Trust for Carers (2022: £74,206 to 276).

The average grant awarded in 2023 was £9,169 (2022: £6,178).

This shows an average increase of 3k from the previous year, however, small grants continue to play an important role in sustaining and growing the voluntary and community activity – awards of £5,000 or less represent 45% of all grants made in 2023.

----- Start of picture text -----
Breckland
1 3%
West Norfolk
15%
Broadland
8%
South Norfolk
4% Great Yarmouth
15%
North Norfolk
14%
Norwich
27%
primary area of benefit
e by
ad
m
s
nt
ra
g
of
%
Other
4%
----- End of picture text -----

The following chart shows the primary area of benefit of grants awarded in 2023. It is noted that in many cases funded organisations reach across multiple areas with their work which may not be reflected here.

27 Trustees' Annual Report 2023 & Financial Statements

6) Grants payable (continued) - large grants

The following list shows the largest grants approved in 2023, with a value of £20,000 and over.

Account name Amount awarded Project description (summary)
£
Volunteer It Yourself CIC 135,398 To deliver six new projects in Great Yarmouth each involving 20 young volunteers and
five mentors helping to refurbish and renovate local community venues and facilities
that host community activities, services and amenities. 13/12/23 additional funding
awarded to deliver a further project in Caister. To open and support the running of
The Feed's social supermarket and community hub on Hall Road, Norwich.
The Bread Kitchen CIC 128,050 To enhance and develop their pilot from year 1 funding by increasing opportunities
and support for volunteers, including opportunities to gain new qualifications.
The Shoebox Enterprises CIC 120,000 To employ a Community Development Worker and a Shoe Box Community Kickstarter
to 'deepen the reach' of volunteer opportunities in 3 boroughs of Great Yarmouth.
St George's Theatre 112,989 To coordinate a 3-part project. 1) connecting with others, delivered by DIAL. 2)
supporting volunteers to befriend visitors and put on activities at a volunteer café. 3)
helping people to connect to meaningful opportunities in their lived environment.
Mancroft Advice Project (MAP) 101,749 To recruit and train five young volunteer youth workers in Great Yarmouth and recruit
15 to 20 further local volunteers to lead a volunteeringcampaign.
GYROS 94,042 To develop GYROS' volunteer scheme for 2 refugee demographic 1) aging refugees 2)
refugees that have been in GY for less than 2 years.
Wastesmiths CIC 87,687 To offer 4 projects which will develop communities across GYB. Working around the
themes of growing, creating, sharing and repairing, the offers are: dye gardens,
mend with friends, a workshop, and a community cinema. The project will create
around 300 opportunities for individuals to engage and volunteer sustainably.
MensCraft 79,196 To support more men who are chronically isolated to take part in positive activities
and provide a supportive pathway into volunteering opportunities in their
neighbourhoods.
Great Yarmouth Pathway 71,051 To employ a number of new positions with the aim of increasing infrastructure
for volunteer development evaluation and training for the Pathway Café and
the Yarmouth and Magdalene Foodbank.
St Mary Magdalene PCC (Gorleston) 71,051 To employ a series of position to increase the support infrastructure for volunteers
that participate in the following church groups: 1) Bridge Hot Lunch Club and Drop in.
2) New Creative activities and gardening project at the drop-in. 3) Magpies parent,
baby and toddler group. 4) Forever Young group. 5) Mags youth club. 6) Open House
drop-in. 7) StMM Foodbank centre (part of the Yarmouth & Magdalen Foodbank).
Kickstart Norfolk 70,000 To support the Breckland Mobile Bus Scheme with its second year of delivery.
Age Connected Great Yarmouth 68,546 To establish a telephone befriending service and a rural outreach service in Great
Yarmouth District engaging 60 volunteers and reaching 100 people at risk of, or
experiencing loneliness.

28 Trustees' Annual Report 2023 & Financial Statements

Account name Amount awarded Project description (summary)
£
St Giles Trust 58,426 To support the ongoing staff and running costs of the Magdalen Street Pantry.
Earlham Community Shop CIC 56,650 To establish the Earlham Community Shop to support those in the NR5 area that are
at risk of food poverty.
The Purfleet Trust 55,500 To develop the Purfleet Pantry into the Purfleet Pantry Social Supermarket.
Afghanistan and Central Asian Association 52,997 To launch an Arts and Culture Hub in Great Yarmouth for young Afghan, Ukrainian
and other refugees.
Kickstart Norfolk 45,000 The 2nd and 3rd instalment of Breckland Mobile Food Stores 2nd year funding.
CAB Diss, Thetford & District 35,435 To develop the Shelf - the Diss Community Food Hub.
Hub Community Project 35,050 Towards the initial set up costs of the second phase of the Wymondham Food Hub,
Steps.
EP Youth 30,000 To fund youth workers to deliver detached sessions in different locations in the rural
hinterland around Fakenham where antisocial behaviour has been identified.
Mancroft Advice Project (MAP) 30,000 To deliver a high quality, open-access 2-hour youth group weekly for 11-16-year-olds
at the Phoenix Centre in Mile Cross.
SWAN Youth Project (Norfolk) 30,000 To employ an additional youth worker for 12 hours per week to support 13-15-year-
olds wanting to access the open access sessions and the Bike Kitchen project.
Red House Youth Trust 30,000 To support general operational costs. Red House Youth Projects (Registered Charity
No. 1092828) is a charitable trust which supports work with young people under the
age of 21 within the County of Norfolk. This support is provided in two main ways:
Financial support via grants for projects, events etc and opportunities for residential
experiences at the property owned and run by the Trust.
Benjamin Foundation 29,942 To carry out detached youth work in Watton and surrounding areas during evenings
and weekends, including a 'Day Tripper' programme, and support the running of
Watton Youth Club.
Henderson Trust 28,516 Increase youth worker hours to expand projects supporting young people and offer
free holidayactivitysessions.
Soul Church Ltd 26,251 To contribute towards their building project.
Matthew Project 25,636 To employ a qualified youth worker to organise and deliver positive activities to
groups of up to 10 young people aged 13-18 who are NEET or at risk of becoming NEET.
The Norwich Centre 25,000 To employ an experienced counsellor to deliver counselling session to young people
18-25 with moderate to severe mental health needs.
Families Together Suffolk 24,511 To roll out a package of support to families in the Waveney district who have a child
(up to age 12) with ADHD, ASD or behaviours that challenge.
Cup-O-T: Wellness and Therapy Services 23,000 To deliver individual and group therapy sessions for young people transitioning out
of or being discharged from a health setting/service.
Wells Sailing Club 20,000 Installation of 40 solar PV panels and a 14.2kW battery system plus associated
equipment.
Creative Support For Vulnerable Families And Children 20,000 To continue delivery of creative psycho-therapeutic support to children and young
people in North Norfolk.

29 Trustees' Annual Report 2023 & Financial Statements

----- Start of picture text -----
Account name Amount awarded Project description (summary)
£
Norwich International Youth Project 20,000 To contribute to NIYP's core activities, delivering weekly groups and individual
support to displaced young people.
The Shoebox Enterprises CIC 20,000 To complete a feasibility study in how the organisation may introduce elements of
our successful Shoebox Community Hub model into communities in Great Yarmouth.
----- End of picture text -----

----- Start of picture text -----
30 Trustees' Annual Report 2023 & Financial Statements
----- End of picture text -----

7) Net incoming resources for the period

----- Start of picture text -----
2023 2022
£000 £000
This is stated after charging:
Depreciation 22 19
Auditors remuneration
Audit fees 13 12
Accounting support and advisory 4 3
----- End of picture text -----

8) Analysis of staff costs and remuneration of key management personnel

2023
£000
2022
£000
Staff costs were as follows:
Salaries
Social Security costs
Pension contributions		 772
69
40
610
56
28
881
694

Staff costs include £4,987 (2022: £Nil) in respect of redundancy payments for one employee.

One (2022: One) employee in the year received emoluments exceeding £60,000. This employee’s earnings fell between £80,000 to £90,000 (2022: £80,000 to £90,000). Company pension contributions in respect of this employee were £7,458 (2022: £4,305).

The average number of employees during the year, calculated on the basis of full time equivalents, was 26 (2022: 21).

The key management personnel in the year received a total remuneration including pension and employers national insurance contributions of £320,721 (2022: £220,770).

9) Trustee remuneration and related party transactions

No trustees (2022: None) were reimbursed for expenses during the year (2022: £Nil).

Donations, without conditions attached that would significantly alter the nature of the charity’s activities, were received in the period of £20,000 (2022: £7,180) from related parties.

31 Trustees' Annual Report 2023 & Financial Statements

10) Tangible fixed assets

Group and Company Computers Group and Company Land and Total
and Office Equipment PPE (Restricted)
£000 £000 £000
Cost
At 1 January 2023 101 162 263
Additions 18 - 18
Disposal - (150) (150)
At 31 December 2023 119 12 131
Depreciation
At 1 January 2023 51 - 51
Charge for the period 20 3 23
At 31 December 2023 71 3 74
Net book value
At 31 December 2023 48 9 57
At 31 December 2022 50 162 212

32 Trustees' Annual Report 2023 & Financial Statements

11) Investments

11) Investments
24,636
689
2023
£000
23,134
2,179
2022
£000
Aggregated
Listed Investments
Cash deposits
Total investments
Charitable Company
Listed Investments
Cash deposits
Total investments
Charitable Trust
Listed Investments
Cash deposits
Total investments
Listed investments at valuation
At 1 January 2023
Additions at cost
Disposals
Fees
Realised/Unrealised gains/losses
At 31 December 2023
Analysis of Funds
Barclays Wealth
CCLA
M&G
Barratt & Cooke - (Charitable Company)
Barratt & Cooke - (Charitable Trust)
CPF
Endowment cash deposits
Other cash deposits
25,325
22,425
642
25,313
21,613
2,132
23,067
2,211
47
23,745
1,521
47
2,258
23,125
860
(1,212)
(6)
1,793
1,568
25,310
1,745
(1,212)
6
(2,724)
24,569
2,085
17,136
361
3,413
1,587
53
23,125
2,038
15,964
350
3,261
1,521
-
24,635
47
642
23,134
47
2,132
689
2,179

All investments are carried at their fair value. Investments in listed investments are all traded in quoted public markets. The basis of fair value for quoted investments is equivalent to its market value, using the bid price at the balance sheet date. Additions and disposals are recognised at the date of trade at cost (their transaction value).

33 Trustees' Annual Report 2023 & Financial Statements

12) Debtors

Charitable Company
£000
Charitable Trust
£000
Aggregated 2023
£000
Aggregated 2022
£000
Prepayments and accrued income
Other debtors		 232
147
200
-
432
147
266
109
379
200
579
375

13) Creditors - amount falling due within one year

Charitable Company
£000
Charitable Trust
£000
Aggregated 2023
£000
Aggregated 2022
£000
Trade creditors
Taxation and social security
Other creditors
Accruals and deferred income		 31
26
181
16
-
-
-
-
31
26
181
16
7
28
253
16
254
-
254
304

34 Trustees' Annual Report 2023 & Financial Statements

14) Restricted Funds

Opening Donations Payroll Gift Other Grants Contribution Other Income from Transfers Closing
balance giving aid transfers payable to Community costs endowment to/from balance
Foundation endowment
Adult Social Care Consultation 0 9,250 0 0 0 (7,500) (1,750) 0 0 0 0
Adult Trust Community First Revenue Fund 35,092 0 0 0 0 (325) (2,706) 0 8,529 0 40,589
Adult Trust CS Revenue Fund (B&C) 54,966 0 0 0 0 (1,015) 0 0 0 0 53,951
Anne Sloman Revenue Fund (0) 0 0 0 0 (700) (269) 0 0 975 6
Annie Bell Revenue Fund 419 0 0 0 0 0 (370) 0 0 0 49
Beech Revenue Fund (B&C) 4,053 3,777 0 944 (4,000) (3,310) (868) 0 0 1,398 1,995
Ben Burgess Revenue Fund 19,817 0 0 0 (3,000) 0 (702) 0 2,214 0 18,329
Benny's Battalion Fund 4,241 3,597 0 220 (1,000) (4,600) (383) 0 0 0 2,075
Bernard Matthews Revenue Fund 13,373 0 0 0 0 0 (1,448) 0 0 0 11,925
Bill Moore Revenue Fund 100 0 0 0 0 0 (611) 0 0 2,214 1,703
Birketts Revenue Fund 4,984 20,000 0 5,000 0 (26,000) (4,068) 0 4,944 0 4,860
Bishop of Norwich Community Fund 33 6,490 0 0 0 (5,900) (590) 0 0 0 33
Bolton Trust Revenue Fund 7,420 0 0 0 (1,000) (8,000) (1,909) 0 6,016 0 2,527
Breckland DC Community Match Funding Fund 63,156 879 0 0 0 (62,165) 0 0 0 0 1,870
Brief Community Fund 0 10,000 0 2,500 0 0 (1,000) 0 0 0 11,500
Broadland Meridian Mental Health & Wellbeing Fund 0 25,000 0 0 0 (22,499) (2,500) 0 0 0 1
C B Jewson Revenue Fund 471 0 0 0 0 (1,000) (598) 0 0 2,000 873
Cedar Trust Revenue Fund 1,178 30,787 0 0 0 (23,787) (2,941) 0 2,793 (5,000) 3,030
Chiplow Wind Farm Fund 18,458 20,000 0 0 0 (36,458) (2,000) 0 0 0 0
Clan Trust 3,660 0 0 0 0 0 0 0 0 0 3,660
Community Renewal Fund 503 0 0 0 0 0 0 0 0 0 503
Connecting Older People 1 150,000 0 0 0 (134,949) (15,000) 0 0 0 52
Corton House 13,080 0 0 0 0 0 0 0 0 0 13,080
Covid-19 Community Response Fund 200 0 0 0 (1,210) 1,000 0 0 0 0 (10)
Cullingford-Youngs Revenue Fund 219 0 0 0 0 0 (204) 0 0 0 15
D'Attanasio Family Revenue Fund 1,959 0 0 0 0 0 (282) 0 889 0 2,566
DCMS Know Your Neighbourhood 0 758,077 0 0 0 (721,555) (35,753) (67) 0 0 702
Delaval & Veronica Hastings Revenue Fund 7,350 0 0 0 0 (4,000) (1,740) 0 0 6,307 7,917
Denbury Charitable Fund 0 14,850 0 0 0 (13,500) (1,350) 0 0 0 0
Developing Communities Fund 129,502 95,789 0 691 61,560 (3,000) (145,573) (11,276) 0 0 127,693
Diocese of Norwich Revenue Fund 95,979 0 0 0 0 0 (3,848) 0 16,171 0 108,302
Dudgeon Community Fund 110,682 137,657 0 0 0 (170,185) (12,514) 0 0 0 65,640
Duncan Baker Fund 11 0 0 0 0 0 0 0 0 0 11
Earle & Stuart CT Bursary Fund 10,000 21,000 0 0 0 (30,000) (1,000) 0 0 0 0
East Coast Community Healthcare Employee Support Fund 20,022 0 0 0 0 (10,765) 0 0 0 0 9,257
East Norfolk Multi Academy Trust Fund 50 0 0 0 0 (50) 0 0 0 0 0
East of England Co-op Community Care Fund 0 4,400 0 0 0 0 (4,400) 0 0 0 0
Eliel Family Revenue Fund 1,491 0 0 0 (250) (1,950) (947) 0 2,984 0 1,328
Ellis Family Fund 0 60,000 0 0 0 0 (14,838) (163) 0 0 45,000
Elsing Hall 10,148 0 0 0 0 0 0 10,148
Ewing Revenue Fund 6,066 0 0 0 0 (4,000) (1,243) 0 0 0 823
Falgate Revenue Fund 34,802 0 0 0 (14,000) (11,500) (3,791) 0 15,930 0 21,441
Farnborough Revenue Fund 2,167 0 0 0 0 (2,000) (394) 0 1,219 0 992
Florence Clarke Revenue Fund 6,018 0 0 0 (5,000) (1,000) (1,719) 0 0 6,231 4,530
Annonymous Family Revenue Fund 44,397 40,000 0 10,000 (22,000) (50,009) (10,022) 0 18,940 0 31,306

35 Trustees' Annual Report 2023 & Financial Statements

Opening Donations Payroll Gift Other Grants Contribution Other Income from Transfers Closing
balance giving aid transfers payable to Community costs endowment to/from balance
Foundation endowment
Foulger Charity Revenue Fund 3,855 0 0 0 0 0 (143) 0 0 0 3,712
Fountain Revenue Fund 12,880 5,000 0 1,250 0 (2,000) (625) 0 0 0 16,505
Four Seasons Fund 56,250 2,000 0 500 (10,000) (4,896) (250) 0 0 0 43,604
Freebridge Community Housing Revenue Fund 81,880 0 0 0 (22,457) 0 (4,908) 0 15,468 0 69,983
Friends of Norfolk (formally Norfolk Future Fund) 17,673 18,080 0 2,411 0 0 (20,000) 0 0 0 18,164
Fuller Revenue Fund 11,542 0 0 0 0 (43,981) (12,091) 0 44,534 134,948 134,951
Goodman Trust Revenue Fund 11,006 22,315 0 0 0 (17,940) (19,126) 0 14,041 0 10,296
Great Yarmouth and Waveney Maternity Care Fund 6,398 0 0 0 0 0 0 0 0 0 6,398
Great Yarmouth Community Investment Fund 0 50,000 0 0 0 0 (5,000) 0 0 0 45,000
Greening Our Communities Fund 511 50,000 0 0 0 (45,510) (5,000) 0 0 0 1
Hambro Revenue Fund 1,945 0 0 0 0 0 (495) 0 0 1,794 3,244
Handelsbanken Mental Health & Wellbeing 12,345 31,010 0 0 0 (40,246) (3,100) 0 0 0 9
Healthy Young Minds 0 270,500 0 0 0 (243,450) (27,050) 0 0 0 0
Healthy Norwich Sustainable Communities Fund 0 0 0 0 0 0 0 0 0 0 0
High Sheriff Revenue Fund 8,150 955 0 0 0 0 (481) 0 1,213 0 9,837
Higham Family Revenue Fund 45,152 0 0 0 0 (14,000) (4,975) 0 28,576 121,106 175,860
Holton Wind Farm Community Fund 9,000 0 0 0 0 0 0 0 0 0 9,000
Hopestead Fund 350 0 1,560 0 0 (1,092) (78) 0 0 0 740
Horning Community Fund 154,758 1,500 0 0 0 0 (15,000) (13,177) 0 0 128,081
Household Support Fund 0 800,000 0 0 0 (585,850) (80,000) 0 0 0 134,150
Inspiration Trust 'Music Matters' Fund 0 7,669 0 170 0 (6,902) (784) 0 0 0 153
Inspiring Opportunities Fund for children in care/care leavers 10,000 0 0 0 15,000 (11,841) 0 0 0 0 13,159
J P Blanch Revenue Fund 58,023 0 0 0 0 (68,400) (11,808) (29) 36,527 30,000 44,313
Jacks Lane Wind Farm Community Fund 7,415 59,017 0 0 0 (45,197) (3,480) 0 0 0 17,755
Jeffries Revenue 763 0 0 0 0 (1,000) (216) 0 0 782 329
Josiah Vavasseur & YMCA Revenue Fund 1 0 0 0 0 (1,081) (282) 0 0 1,363 1
Kennard Family Revenue Fund 3,158 2,697 0 560 0 0 (1,221) 0 2,750 0 7,944
Kier Revenue Fund 12,106 0 0 0 0 0 (900) 0 2,838 0 14,044
Kiln Cliffs Nuture Fund 0 10,000 0 0 0 0 (1,000) 0 0 0 9,000
Kings Lynn & West Norfolk Capital FAS 3,006 50,000 0 0 0 0 0 0 0 0 53,006
Kings Lynn & West Norfolk Revenue FAS 0 21,500 0 0 0 0 (6,500) 0 0 0 15,000
Kings Lynn & West Norfolk Themed Revenue Fund 0 15,000 0 0 0 (11,583) (1,500) 0 0 0 1,917
KL & WN Defibrillator Fund 0 50,000 0 0 6,000 (18,000) (5,000) 0 0 0 33,000
Lane Family Revenue Fund 3,759 20,000 0 0 (15,000) 0 (6,181) 0 3,721 0 6,299
Literacy Fund 9,000 0 0 0 0 0 0 0 0 0 9,000
Little Acorns Community Fund 8,826 27,000 0 6,750 0 (28,059) (2,363) 0 0 0 12,154
Longforth Revenue Fund 4,537 0 0 0 0 (3,000) 0 0 1,592 0 3,129
Love Norfolk Revenue Fund 79,153 31,663 75 5,733 33,330 (151,367) (31,327) (15) 33,829 0 1,073
Lovewell Blake 2,890 16,888 0 38 0 (12,632) (2,503) 0 0 0 4,680
Luke Day Adventure Fund 247 221 0 0 0 0 (22) 0 0 0 446
Mars Fund 22 0 0 0 0 0 0 0 0 0 22
Mike Lindsell Community First Revenue Fund 2,720 0 0 0 0 (3,135) (291) 0 1,670 0 964
Millennium Trust For Young Carers 10,000 0 13,000 0 0 (9,814) 0 0 0 0 13,186
Mills & Reeve CT Revenue 2,247 0 0 0 0 0 (394) 0 0 0 1,853
Morris/Fischer Revenue Fund 2,228 0 0 0 0 0 (305) 0 962 0 2,884
Musker McIntyre Community Fund 6,660 0 0 0 0 0 0 0 0 0 6,660
NCC Empowering Communities Fund 0 60,113 0 0 0 0 (1,636) 0 0 0 58,476

36 Trustees' Annual Report 2023 & Financial Statements

Opening Donations Payroll Gift Other Grants Contribution Other Income from Transfers Closing
balance giving aid transfers payable to Community costs endowment to/from balance
Foundation endowment
Nelsonspirit Community Leaders Fund 858 1,278 0 197 250 (1,463) (177) 0 0 0 943
nelsonspirit future leaders revenue fund 7,155 1,495 0 153 0 (1,050) (273) 0 442 0 7,921
New Endeavour Rangers Community Fund 0 0 0 0 0 0 0 0 0 0 0
New Life Fund 16,672 4,000 0 0 1,799 (5,844) (400) 0 0 0 16,227
NHS Charities Together 2 (1) 0 0 0 (1) 0 0 0 0 1
Norfolk & Waveney Mental Health Community Engagement 3,102 0 0 0 0 0 (2,000) (1,102) 0 0 0
Norfolk 100 512 78,635 0 675 (53,023) 0 0 0 0 (26,511) 287
Norfolk and Waveney Community Voices 27,085 179,000 0 0 0 (125,265) (21,380) (150) 0 0 59,290
Norfolk and Waveney REND Fund 0 170,500 0 0 0 (111,297) (17,500) (7,595) 0 0 34,108
Norfolk Armed Forces Community Wellbeing Fund 0 22,000 0 0 0 (20,000) (2,000) 0 0 0 0
Norfolk Children & Young People Revenue 16,523 0 0 0 (15,973) 0 (549) 0 0 0 1
Norfolk Lieutenancy Fund 0 0 0 0 10,000 (10,000) 0 0 0 0 0
Norfolk Millennium Trust for Carers 19,210 4,118 60,024 0 0 (45,291) (14,993) (111) 0 44,732 67,690
Norfolk PACT Revenue (B&C) 7,033 0 0 0 (8,424) 0 (550) 0 0 1,941 (0)
Norfolk Women and Girls Revenue Fund 3,761 1,377 155 325 1,500 (5,000) (181) (25) 0 0 1,913
Norfolk Womens Revenue Fund 3,324 50 0 13 0 (6,000) (253) 0 658 6,000 3,792
Norfolk Youth Music Trust Revenue 2,196 0 0 0 1,000 (4,000) (304) 0 1,279 0 171
Norman Lamb Mental Health & Wellbeing Revenue Fund 67,242 57,535 593 944 72,995 (68,078) (7,518) (6,172) 4,529 0 122,069
North Pickenham Wind Farm Community Fund 9,092 0 0 0 0 (9,092) 0 0 0 0 0
Norwich 4 New Enterprise 24,967 0 0 0 0 0 0 0 0 0 24,967
Norwich Lads Club & YMCA Revenue Fund (0) 0 0 0 0 (4,524) (1,180) 0 0 5,704 0
Nourishing Norfolk 432,759 317,250 0 3,189 14,495 (359,462) (52,378) (1,573) 0 0 354,280
Nourishing Norfolk - Sustainability 0 115,000 0 0 0 (67,500) (11,500) (184) 0 0 35,816
Nourishing Norfolk Addiitionality Project 0 50,000 0 0 179,600 (175,856) (5,000) (80) 0 0 48,664
Nourishing Norfolk Civic Charity 0 3,955 0 469 0 0 (326) 0 0 0 4,098
Nourishing Norfolk Distribution Hub 0 76,015 31,038 0 56,933 (16,978) 0 (107,952) 0 0 39,056
Nourishing Norfolk Superhero 0 215,332 0 95 (215,427) 0 0 0 0 0 0
P & W Bassham CT Community First Revenue Fund 169,463 0 0 0 (20,000) (92,615) (5,931) 0 37,387 0 88,303
Palms Mental Health Revenue Fund 2,965 0 0 0 0 0 (205) 0 647 0 3,406
Paul Morgan Revenue Fund 318 0 0 0 (1,000) 0 (982) 0 3,060 1,480 2,877
Pearson Family Revenue Fund 1,703 0 0 0 0 (1,125) (442) 0 1,401 0 1,538
Platinum Jubilee Fund 24,052 0 0 0 (10,000) 0 (1,586) (12,466) 0 0 (0)
Public Health - Empowering Communities for Mental Health & WB 0 153,800 0 0 (41,526) (55,349) (15,380) 0 0 0 41,545
R C Snelling Revenue Fund 13,607 0 0 0 0 (20,000) (5,781) 0 15,998 5,000 8,824
R G Carter Revenue Fund 3,465 0 0 0 0 0 (218) 0 0 1,054 4,301
R M Madders Revenue Fund (1,674) 3,000 0 250 (1,250) (250) (1,986) 0 0 3,750 1,840
Rachel Lane Fund 13,917 0 0 0 0 0 0 0 0 0 13,917
Raise the Alarm Fund 10,136 0 0 0 0 0 0 0 0 0 10,136
Ranworth Trust Revenue 463 0 0 0 0 0 (5,260) 0 0 25,311 20,514
Red House Trust Revenue Fund 3,587 0 0 0 (5,000) (38,000) (6,559) 0 16,261 35,000 5,289
Richard Cole Revenue Fund 606 0 0 0 0 (650) (132) 0 754 0 577
Richard Nash Group Revenue 2,628 0 0 0 0 (26,251) (327) 0 0 23,950 0
Rose Berney Memorial Fund 38,800 37,413 0 3,298 (35,000) (6,500) (4,120) (15,431) 0 0 18,460
Sail4Recovery 0 17,345 0 0 4,181 0 (1,734) (2,097) 0 0 17,694
Saracens Norfolk Fund 14,306 64,200 0 0 0 (52,030) (4,200) 0 0 0 22,276
Scout Association Revenue Fund 51,047 0 0 0 0 0 (1,679) 0 0 3,873 53,241
Shadwell Community Fund 0 2,750 0 0 0 (2,500) (250) 0 0 0 0

37 Trustees' Annual Report 2023 & Financial Statements

Opening Donations Payroll Gift Other Grants Contribution Other Income from Transfers Closing
balance giving aid transfers payable to Community costs endowment to/from balance
Foundation endowment
Shakespeare's Guildhall Trust Fund 0 30,000 0 0 0 (17,602) (3,000) 0 0 0 9,398
Sheila Ann Day Fund 90,000 0 0 0 0 (49,138) 0 0 0 0 40,862
Shelroy Trust Revenue Fund 107,811 0 0 0 0 (136,653) (39,052) 0 96,140 31,147 59,393
Sheringham Shoal Revenue Fund 106,964 0 0 0 0 (106,318) (1,223) 0 0 1,223 646
Silk Purse Revenue Fund 4,136 0 0 0 (11,000) 0 (3,349) 0 10,556 0 343
Sophie's Sparkle Fund 20,456 4,280 0 535 1,000 (10,111) (447) 0 0 0 15,715
South Norfolk and Broadland Health and Wellbeing Partnership 27,000 0 0 0 0 (27,000) 0 0 0 0 0
Street Aid 14,538 4,721 0 723 0 (2,828) (486) (631) 0 0 16,037
Supporting Positive Activities and Community Engagement (SPACE) 0 50,000 0 0 75,310 (79,457) (5,000) 0 0 0 40,853
Surviving Winter Appeal 44,724 221,644 0 3,782 7,500 (192,743) (21,891) 0 0 0 63,017
The Big Oardeal 0 31,373 0 0 0 0 (3,134) 0 0 0 28,239
Targetfollow Foundation Revenue Fund 4,268 0 0 0 0 0 0 0 0 0 4,268
The Brighter Future Fund 4,000 0 0 0 0 (2,000) 0 0 0 0 2,000
The NCF Bursary Fund 0 1,100 0 0 0 (1,000) (100) 0 0 0 0
The Norfolk Heart Trust 23,594 387,586 0 27,126 14,000 0 (15,488) (52,486) 0 0 384,331
The Norfolk Sports Academy Fund 0 5,000 0 0 0 0 (125) (4,875) 0 0 (0)
Thelveton Revenue Fund 2,342 100 0 25 0 0 (822) 0 2,551 0 4,196
Theodore Agnew Revenue 5,868 0 0 0 0 0 (9,516) 0 20,543 10,829 27,723
Thetford Shines Brighter 20,726 1,714 0 428 0 (5,000) (214) 0 0 0 17,654
Tim & Hazel Barrett Revenue Fund 5,105 2,500 0 0 (500) (1,825) (514) 0 0 957 5,723
Together to Thrive Fund 0 26,000 0 0 0 0 (2,600) 0 0 0 23,400
Turnpike Farm Revenue Fund 1,314 0 0 0 0 0 (341) 0 509 652 2,134
Two Year Old Captal Fund 107,620 0 0 0 0 (10,000) 0 0 0 0 97,620
UKRI 0 8,814 880 0 0 0 (2,516) (4,767) 0 0 2,410
Victory Homes Community Fund 19,559 0 0 0 0 0 (1,339) 0 4,221 0 22,441
Vulnerable Families (NCF Themed) 111,633 1,707 219 94 (39,913) (2,458) (199) 0 0 0 71,082
Walking 4 Norfolk 440 0 0 0 0 0 0 0 0 0 440
Warminger Wellbeing Fund 35,083 0 0 0 0 0 0 0 0 0 35,083
Warren Services Employee Support Fund 25,200 0 0 0 0 (3,000) 0 0 0 0 22,200
Welcome to Norfolk 26,556 96,088 0 120 500 (57,100) (9,621) 0 0 0 56,543
Wellingham Relief in Need Revenue Fund 55,642 2,490 0 0 0 0 (1,600) (1,858) 4,410 0 59,084
West Norfolk Employment Fund (Colson Rev CF) 43,761 0 0 0 0 (26,000) (3,732) 0 11,762 0 25,791
West Norfolk Lives Revenue Fund 31,473 0 0 0 0 (78,532) (7,402) 0 0 75,073 20,612
West Norfolk Rural Community Capital 0 64,666 0 0 0 (57,166) (7,500) 0 0 0 0
Weston Wind Farm Community Fund 14,883 0 0 0 0 (8,600) 0 0 0 0 6,283
Young Norfolk Sports Fund 2,250 0 0 0 0 0 0 0 0 0 2,250
Grand Total 3,334,350 5,550,511 107,542 79,204 (0) (4,938,197) (891,811) (244,282) 501,456 555,283 4,054,058

38 Trustees' Annual Report 2023 & Financial Statements

15) Endowment Funds

Opening
balance		 Investment
income		 Donations Gift
aid		 Transfers Movement on
investments		 Management
fees		 Grand
total
Adult Trust Community First Endowment Fund 270,616 0 0 0 0 24,867 0 295,483
Anne Sloman Endowment Fund 26,900 844 0 0 (975) 1,597 (83) 28,283
Annie Bell Endowment Fund 36,974 1,092 505 126 0 2,119 (106) 40,710
Beech Fund Endowment (B&C) 39,600 1,185 0 0 (1,398) 1,133 0 40,520
Ben Burgess Community First Endowment Fund 34,928 0 0 0 0 3,210 0 38,137
Ben Burgess Endowment Fund 35,334 0 0 0 0 3,247 0 38,581
Bernard Matthew Grassroots Endowment Fund 144,809 4,590 0 0 0 8,909 (446) 157,861
Bill Moore Grassroots Endowment Fund 61,082 1,917 0 0 (2,214) 3,627 (187) 64,224
Birketts Community First Endowment Fund 71,433 0 0 0 0 6,564 0 77,997
Birketts Grassroots Endowment Fund 85,433 0 0 0 0 7,850 0 93,284
Bolton Trust Community First Endowment Fund 190,875 0 0 0 0 17,540 0 208,414
C B Jewson Grassroots Endowment Fund 59,755 1,844 0 0 (2,000) 3,617 (179) 63,036
Cedar Trust Community First Endowment Fund 25,496 0 0 0 0 2,343 0 27,839
Cedar Trust Grassroots Endowment 68,641 0 0 0 5,000 5,741 0 79,382
Cullingford-Youngs Family Endowment Fund 20,372 604 360 90 0 1,171 (59) 22,539
D'Attanasio Family Community First Endowment Fund 28,212 0 0 0 0 2,592 0 30,804
Delaval & Veronica Hastings Endowment Fund 174,034 5,462 0 0 (6,307) 10,336 (534) 182,991
Diocese of Norwich Community First Endowment Fund 470,364 0 0 0 0 43,222 0 513,586
Diocese of Norwich Endowment Fund 42,731 0 0 0 0 3,927 0 46,658
Eliel Family Community First Endowment Fund 94,681 0 0 0 0 8,700 0 103,381
Ewing Endowment Fund 124,319 3,661 0 0 0 3,545 0 131,525
Falgate Community First Endowment Fund 505,460 0 0 0 0 46,447 0 551,907
Farnborough Community First Endowment Fund 31,821 0 0 0 0 2,923 0 34,744
Farnborough Endowment Fund 7,618 0 600 150 0 631 0 8,999
Florence Clarke Grassroots Endowment Fund 171,922 5,395 0 0 (6,231) 10,210 (527) 180,769
Annonymous Community First Endowment Fund 294,789 0 0 0 0 26,973 0 321,763
Annonymous Family Endowment Fund 307,403 0 0 0 0 28,247 0 335,651
Foulger Charity Endowment Fund 14,349 455 0 0 0 883 (44) 15,642
Freebridge Community First Endowment Fund 391,316 0 0 0 0 35,958 0 427,274
Freebridge Community Housing Grassroots Endowment Fund 99,470 0 0 0 0 9,140 0 108,610
Fuller Community First Endowment Fund 1,167,531 0 0 0 (134,948) 97,857 0 1,130,441
Fuller Endowment 343,837 0 0 0 0 31,596 0 375,432
Goodman Trust Endowment Fund 662,624 436 0 0 (543,119) 10,929 (42) 130,827
Hambro Grassroots Endowment Fund 49,496 1,553 0 0 (1,794) 2,940 (152) 52,043
High Sheriff Community First Endowment Fund 38,472 0 0 0 0 3,535 0 42,007
Higham Family Community First Endowment Fund 994,958 0 0 0 (121,106) 82,966 0 956,818
J P Blanch Community First Endowment Fund 773,128 0 0 0 (30,000) 68,947 0 812,075
J P Blanch Grassroots Endowment Fund 407,724 0 0 0 0 37,466 0 445,190
Jeffries Grassroots Endowment Fund 21,588 677 0 0 (782) 1,282 (66) 22,699
Josiah Vavasseur & YMCA Grassroots Endowment Fund 37,606 1,180 0 0 (1,363) 2,234 (115) 39,542
Kennard Family Community First Endowment Fund 89,469 0 0 0 0 7,919 0 97,388
Kier Grassroots Endowment Fund 90,042 0 0 0 0 8,274 0 98,316
Lane Family Community First Endowment Fund 118,075 0 0 0 0 10,850 0 128,925
Longforth Endowment Fund 50,517 0 0 0 0 4,642 0 55,159
Love Norfolk Community First Endowment Fund 201,738 0 0 0 0 18,608 0 220,345
Love Norfolk Endowment Fund 1,153,780 4,592 0 0 26,511 91,507 (136) 1,276,254

39 Trustees' Annual Report 2023 & Financial Statements

Opening
balance
Donations
Gift
aid
Transfers
Investment
income
Movement on
investments
Grand
total
Management
fees
Mike Lindsell Community First Endowment Fund
Mills & Reeve Grassroots Endowment Fund
Morris/Fischer Community First Endowment Fund
nelsonspirit future leaders Community First Endowment Fund
Norfolk PACT Endowment
Norfolk Womens Endowment Fund
Norfolk Youth Music Trust Endowment (CCLA)
Norman Lamb Endowment
Norwich Lads Club & YMCA Grassroots Endowment
P & W Bassham CT Community First Endowment Fund
Palms Mental Health Community First Endowment Fund
Paul Morgan Community First Endowment Fund
Pearson Family Community First Endowment Fund
R C Snelling Community First Endowment Fund
R C Snelling Grassroots Endowment Fund
R G Carter Grassroots Endowment
R M Madders Endowment Fund
Ranworth Trust Grassroots Endowment Fund
Red House Community First Endowment Fund
Red House Youth Project Endowment Fund
Richard Cole Community First Endowment
Richard Nash Group Endowment
Scout Association Endowment Fund
Shelroy Trust Community First Endowment Fund
Shelroy Trust End (B&C)
Shelroy Trust Endowment Fund (CCLA)
Sheringham Shoal Grassroots Endowment Fund
Silk Purse Community First Endowment Fund
The Norfolk Heart Trust Endowment Fund
Thelveton (non CF) CCLA Endowment
Thelveton Community First Endowment Fund
Theodore Agnew Community First Endowment Fund
Theodore Agnew Endowment
Tim & Hazel Barrett Endowment Fund
Turnpike Farm Community First Endowment Fund
Turnpike Farm Endowment Fund
Victory Housing Community First Endowment
Wellingham Relief in Need Endowment
West Norfolk Employment Fund (Colson End Community First)
West Norfolk Lives Endowment Fund
Grand Total
Goodman Permanent Endowment Fund
Norfolk Children & Young People Endowment
Norfolk Millennium Trust for Carers Endowment
Total Permanent Endowment
Grand Total		 52,977
39,438
30,529
14,029
54,982
25,244
40,595
143,705
157,388
1,186,258
20,523
98,175
44,186
507,605
263,149
29,077
166,052
701,384
515,939
140,039
23,911
32,698
335,831
2,644,519
854,822
405,932
122,313
334,927
356,725
20,928
60,017
651,798
299,771
26,403
16,127
17,978
133,916
139,937
373,191
740,165
21,954,501
0
109,709
1,458,091
1,567,800
23,522,301
0
1,250
0
0
1,641
0
0
0
4,939
0
0
0
0
0
6,281
913
5,403
17,056
0
3,633
0
1,036
7,354
0
21,674
0
3,877
0
3,456
0
0
0
6,799
829
0
564
0
0
0
21,973
144,166
0
3,220
43,909
47,130
191,296
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
29,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30,465
56,881
0
200,000
256,881
287,346
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
7,250
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
7,616
0
0
0
0
7,616
0
0
0
0
(1,941)
(6,000)
0
0
(5,704)
0
0
(1,480)
0
0
(5,000)
(1,054)
(3,750)
(25,311)
0
(35,000)
0
(23,950)
(3,873)
0
(31,147)
0
(1,223)
0
0
0
0
0
(10,829)
(957)
0
(652)
0
0
0
(75,073)
(1,053,670)
543,119
0
(44,732)
498,387
(555,283)
4,868
2,426
2,804
1,289
1,583
1,920
3,730
13,205
9,347
109,006
1,886
8,918
4,185
46,644
10,538
1,727
5,285
30,610
47,410
3,008
2,197
942
13,613
243,006
52,359
37,301
7,506
30,777
9,494
1,924
5,513
59,894
15,517
1,568
1,484
1,068
12,306
12,859
34,293
42,515
1,705,345
24,587
3,116
59,775
87,478
1,792,823
57,845
42,992
33,333
15,318
56,265
21,164
44,326
156,910
165,488
1,295,264
22,409
105,612
48,371
554,249
274,968
30,574
209,240
723,739
563,349
111,680
26,108
10,626
352,924
2,887,525
897,709
443,234
132,096
365,704
369,675
22,852
65,530
711,692
311,258
27,762
17,611
18,903
146,222
152,797
407,484
727,422
22,782,281
624,587
116,045
1,717,043
2,457,676
25,239,957
0
(121)
0
0
0
0
0
0
(483)
0
0
0
0
0
0
(89)
0
0
0
0
0
(101)
0
0
0
0
(377)
0
0
0
0
0
0
(81)
0
(55)
0
0
0
(2,158)
(6,143)
0
0
0
0
(6,143)

40 Trustees' Annual Report 2023 & Financial Statements

16) Analysis net assets between funds – current year

Unrestricted Funds
£000
Restricted Funds
£000
Endowment Funds
£000
Total Funds
£000
Aggregated
Tangible fixed assets
Investments
Bank balances
Other net current assets/(liabilities)
Charitable Company
Tangible fixed assets
Investments
Bank balances
Other net current assets/(liabilities)
Charitable Trust
Investments
Other net current assets/(liabilities)		 48
-
705
(44)
9
-
3,339
706
-
25,325
223
(308)
57
25,325
4,267
354
709
4,053
25,240
30,003
48
-
705
(44)
9
-
3,339
706
-
23,067
223
(508)
57
23,067
4,267
154
709
4,053
22,782
27,545
-
-
-
-
2,258
200
2,258
200
-
-
2,458
2,458

16) Analysis net assets between funds – prior year

Unrestricted Funds
£000
Restricted Funds
£000
Endowment Funds
£000
Total Funds
£000
Aggregated
Tangible fixed assets
Investments
Bank balances
Other net current assets/(liabilities)
Charitable Company
Tangible fixed assets
Investments
Bank balances
Other net current assets/(liabilities)
Charitable Trust
Investments		 50
-
567
201
162
2
1,462
1,708
-
25,311
50
(1,838)
212
25,313
2,079
71
818
3,334
23,523
27,675
50
-
567
201
162
2
1,462
1,708
-
23,743
50
(1,838)
212
23,745
2,079
71
818
3,334
21,955
26,107
-
-
1,568
1,568

41 Trustees' Annual Report 2023 & Financial Statements

17) Movement in funds – current year

Fund balances at 31 December 2023 are represented by:

Incoming resources
£000
Closing balance
£000
Investment gains
£000
Opening balance
£000
Outgoing resources
£000
Transfers
£000		 Incoming resources
£000
Closing balance
£000
Investment gains
£000
Opening balance
£000
Outgoing resources
£000
Transfers
£000
Aggregated
Unrestricted funds
General fund
Designated funds
Restricted funds
Endowment funds
Charitable Company
Unrestricted funds
General fund
Designated funds
Restricted funds
Endowment funds
Charitable Trust
Endowment Funds		 699
119
3,335
23,522
117
-
6,238
486
-
-
-
1,792
504
206
4,056
25,239
(1,021)
(96)
(5,182)
(6)
709
183
(337)
(555)
27,675
6,841
1,792
30,003
(6,305)
-
699
119
3,335
21,954
117
-
6,238
182
-
-
-
1,705
504
206
4,056
22,782
(1,021)
(96)
(5,182)
(6)
709
183
(337)
(1,053)
26,107
6,537
1,705
27,546
(6,305)
(498)
1,568
304
87
2,457
-
498
1,568
304
87
2,457
-
498

The designated funds relate to a five-year sustainability and continuity project.

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42 Trustees' Annual Report 2023 & Financial Statements
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17) Movement in funds – prior year

Fund balances at 31 December 2022 are represented by:

Incoming resources
£000
Closing balance
£000
Investment gains
£000
Opening balance
£000
Outgoing resources
£000
Transfers
£000		 Incoming resources
£000
Closing balance
£000
Investment gains
£000
Opening balance
£000
Outgoing resources
£000
Transfers
£000
Aggregated
Unrestricted funds
General fund
Designated funds
Restricted funds
Endowment funds
Charitable Company
Unrestricted funds
General fund
Designated funds
Restricted funds
Endowment funds
Charitable Trust
Endowment Funds		 735
119
3,122
25,528
116
-
6,520
928
-
-
-
(2,752)
699
119
3,335
23,522
(906)
-
(5,735)
-
754
-
(572)
(182)
29,504
7,564
(2,752)
27,675
(6,641)
-
735
119
3,122
23,837
116
-
6,520
918
-
-
-
(2,619)
699
119
3,335
21,954
(906)
-
(5,735)
-
754
-
(572)
(182)
27,990
7,554
(2,619)
26,107
(6,641)
-
1,691
10
(133)
1,568
-
-
1,691
10
(133)
1,568
-
-

43 Trustees' Annual Report 2023 & Financial Statements

18) Financial instruments

2023
£000
2022
£000
Financial assets at fair value through statement of
financial activities:
Investments		 25,325
25,313
25,325
25,313

The main risk from the charity’s investment portfolio is uncertainly in the investment markets. This is managed by appointing professional fund managers who manage the funds on a moderate risk basis. Liquidity risk is considered low because investments are in traded securities.

19) Related parties

During the period the charity received legal services with a value of £6,120 (2022: £1,500) from Birketts LLP, a company which E Savory (Company Secretary) is a Director of. An amount of £Nil (2022: £Nil) was due to Birketts LLP at the year end. During the period the charity also received a donation of £20,000 from Birketts (2022: £Nil).

During the period the charity received professional services with a value of £Nil (2022: £1,800) from Brown and Co, a company of which one of the Trustees is a former employee. An amount of £Nil (2022: £Nil) was due to Brown and Co at the year end.

44 Trustees' Annual Report 2023 & Financial Statements

Find out more or get in touch

www.norfolkfoundation.com 01603 623958

shinebrighter@norfolkfoundation.com

1st Floor Carmelite House, 2 St James Court, Norwich, NR3 1SL

Front cover image: Special Olympics Norfolk / Back cover image: Rob Dodsworth (Brand Story Studio)

Registered Charity Number 1110817 Company Registration Number 05234236