**Trustees Annual Report & Financial Statements** FOR THE YEAR ENDED 31 DECEMBER 2024 TOGETHER, NORFOLK SHINES BRIGHTER
**47** Aggregated balance sheet
## Contents
## Reference and administrative details
**01-40** Trustees’ Annual Report
- **41-44** Independent Auditor’s Report
**45** Aggregated statement of financial activities
**46** Aggregated summary income and expenditure account
## **Name of charity:**
Norfolk Community Foundation
**Charity registration number:** 1110817
**Company registration number:** 05234236
## **Address of principal and registered**
## **Chief Executive:**
Claire Mackintosh MBE
## **Bankers:**
Barclays Bank Plc, 5/7 Red Lion Street, Norwich, NR1 3QH
## **Auditors:**
Larking Gowen LLP, 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE
**office:**
**48** Cash flow statement
1st Floor, Carmelite House, 2 St James Court, Whitefriars, Norwich, NR3 1SL
## **Solicitors:**
Mills & Reeve LLP, 1 St James Court, Whitefriars, Norwich, NR3 1RU
## **Trustees:**
**49-86** Notes to the financial statements
Fiona McDiarmid – _appointed as Chair 4th January 2024_
Edward Savory – _appointed 4th January 2024_
Tom Burdett
Simon Brickles - _retired 2nd December 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
## Jessica Middleton
Richard Ross – _resigned 23rd September 2024_
Jennifer Watson
_–_ Rosalyn Proops _resigned 4th January 2024_
Simon Bailey _- Chair – resigned 4th January 2024_
Catherine Scott _– appointed 23rd September 2024_
George Sergent _– appointed 23rd September 2024_
Krishna Sethia _– appointed 23rd September 2024_
Peter Joyner _– appointed 1st January 2025_
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## Objectives and activities
accessible, strategic, and impactful, we ensure support reaches those who need it most.
## Aims
The principal objects and activities of Norfolk Community Foundation (NCF) are;
## Our vision and mission together
- 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 20 years 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:**
- Empowering grassroots charities and community groups with the funding and local leadership needed to grow, sustain, and thrive.
In shaping our objectives for the year and planning our activities, the Trustees have had due regard to the Charity Commission’s guidance on public benefit, particularly the guidance contained in ‘Charities and Public Benefit’ (PB1)
- Championing philanthropy; connecting people to causes through deep local knowledge and demonstrating the tangible impact of giving.
- Providing trusted, accessible giving mechanisms that ensure funds reach those who need them most.
## Better giving, greater impact
- Fostering cross-sector partnerships; collaborating with businesses, funders, and communities to broker meaningful change.
NCF provides a clear, effective framework to help donors achieve their philanthropic goals, inspiring new giving and increasing funding for Norfolk’s grassroots charities and community groups. By making giving
- Building endowment funds to secure long-term support and ensure sustainable impact for future generations.
## Significant activities: Building stronger communities
Our partnerships with donors, close working relationships with local grassroots charities and dynamic understanding of community issues allowed us to respond to emerging needs throughout 2024 in Norfolk. Our fundraising and grant making activities have been shaped in response to that need. Our national relationships enabled us to leverage additional funding into Norfolk to match local appetite for support.
Through its donors and partners, NCF provides community investment to enable the work of grassroots charities and community groups to rapidly respond to emerging local challenges and continue to operate sustainably.
Grants totalling £7,940k were awarded during the financial period (note 6) – this consisted of £7,759k in grants to 550 community groups and other voluntary organisations, and £181k to 581 individuals thus demonstrating NCF’s commitment towards providing public benefit to a wide variety of charitable purposes working across the county.
NCF has £25m of endowed funds which will enable income for grant giving in perpetuity and provide long term financial public benefit.
## Resources spent on particular activities
In 2024, Norfolk Community Foundation employed 26 staff members (22 FTE) to manage over 260 donor funds, including 175 restricted revenue funds and endowment (capital) funds. Direct staff costs for fund management and grantmaking totalled £735k, supporting key activities such as:
- Advising voluntary and community groups on funding eligibility and wider opportunities for support.
- Monitoring grant awards to ensure meaningful community impact.
- **•** Strengthening the VCSE sector through efficient funding support.
- Providing expertise on local needs, increasing collective giving, brokering partnerships, and accessing trust funding.
## **Strategic investments and growth**
21% of direct staff costs were covered by external funding, enabling:
- Expansion of Good for Good, linking businesses with charities for social impact.
- Development of mission networks in youth mental health and healthy food access.
- Launch of the Skills Exchange, a free training and capacity-building programme providing pro bono business support to meet charity needs.
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## **Fundraising and governance**
The cost of raising funds, including staff expenses, totalled £362k, with a focus on:
- Growing Good for Good to strengthen corporate philanthropy.
- Expanding networks with professional advisors to unlock private giving.
- Supporting donor acquisition.
Support and governance costs reached £109k, ensuring:
- A professional, transparent grant administration service.
- Regular donor engagement through newsletters, reports, and updates.
- Innovative, tailored funding solutions.
- Sustained fundraising support.
## Strategic review
In 2024, building on a platform of transactional excellence, we deepened our focus on supporting transformational work in our communities. This strategic shift has been enabled by:
- Enhancing our insight capabilities to better identify and respond to emerging community needs.
- **•** Convening and strengthening cross-sector partnerships that enable us to move beyond traditional grant-making, unlocking assets, influence, and skills to drive meaningful, longterm change.
- Advancing our impact reporting and storytelling, supporting both donor engagement and the growth of philanthropic giving.
As part of this evolution, the Foundation launched six bold Missions in 2024, each designed to address the most pressing challenges facing Norfolk’s communities. The Missions reflect a proactive, strategic approach to creating lasting impact, from early intervention in youth mental health to grassroots responses to local needs.
## Our six Missions are building a Norfolk that is...
## Good to grow up in
## Sustainable
Norfolk is at risk from climate change. From rewilding neglected urban spaces to reducing local carbon footprints, our **Greening our Communities** mission supports local groups bringing people together to take climate action, improve wellbeing, and create places where nature and community thrive side by side.
30,000 Norfolk children live in lowincome households. Our **A Better Childhood** mission funds local projects that build communities where children can thrive and flourish. We ensure families are supported so children feel seen, valued and encouraged.
## Full of opportunities
## Connected
Our **Skills for Norfolk** mission funds projects that help people develop skills, access training, and build careers. We know local communities are uniquely positioned to support those furthest from the workplace, helping them build confidence, overcome obstacles and take their next steps towards working.
We know 85% of charitable donations go to big-name charities, leaving vital local communities behind. Our mission **Love Norfolk** changes that. Powered by our Norfolk 100 members, it provides essential, local funding to back community activities connecting people around their interests, challenges and where they live.
## Nourished
## Resilient
Accessing food at a price that feels affordable is harder in Norfolk than in many other parts of the country. has created a **Nourishing Norfolk** network of hubs that not only offer lower-cost food, but also provide the practical support individuals and families need to move from surviving to thriving.
We have built a local network supporting young people in Norfolk who face rising mental health challenges and long waits for help. Our **Young People’s Mental Health** mission helps create safe, trusted spaces in communities where young people can build resilience and access support where they live.
These Missions build on the strong foundations laid in previous years through strategic funds, are shaped by local insight, and designed to deliver sustained, measurable impact.
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## Community investment: Strengthening Norfolk together
NCF drives meaningful community investment, providing funding, expertise, and partnerships to empower local people and grassroots organisations. Working with individuals, businesses, public bodies, and charities, we invest in grant programmes, professional support, research, and direct funding to create lasting change.
## **Our approach is shaped by these core principles:**
- **Community first:** Understanding the change communities want to achieve.
- **Empowering local action:** Investing in great people with ideas for positive change.
- **Knowledge-driven solutions:** Using local insight to shape responsive funding.
- **Collaborative giving:** Aligning donor aims with evidence-based community needs.
- **Measurable impact:** Ensuring outcomes are meaningful and transformative.
## **How we deliver change:**
**1. Knowledge:** Informed by research, trusted relationships, and sector expertise.
**2. Partnerships:** Leveraging crosssector support to invest in community-led solutions.
**3. Action:** Funding grassroots projects, convening networks, and strengthening the VCSE sector through tailored support.
## **Our key initiatives:**
- **Missions:** Targeted funding for emerging community needs.
- **Grant programmes:** Supporting organisations and individuals through structured funding.
- **Good for Good:** Unlocking business support and pro bono expertise.
- **Community research and networks:** Sharing insights and fostering collaboration.
We continually refine our approach, ensuring Norfolk’s communities thrive, with investments that deliver real impact, build resilience, and create lasting opportunities for all.
## Case study: More than just a funder
website, making their e-learning platform more accessible to help build their community’s skills.
Cup-O-T: Wellness and Therapy Services offers a warm, supportive environment for young people and their families. Through nature-based workshops, they provide mental health support that makes a difference.
**Building networks:** Through our Sir Norman Lamb Coalition for Young People, Cup-O-T connect with other grassroots groups and professionals, opening doors to new opportunities and partnerships.
**Funding for action:** Our grants helped them grow their programmes, reaching more people in need of calm, connection and confidence.
Today, Cup-O-T is thriving not just because of funding, but because of the collaborative ecosystem that surrounds them. It’s a great example of how we make local giving go further.
**Extra support:** Through Good for Good, we matched Cup-O-T with Byra Marketing, who provided free help to redesign their
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## Fundraising
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 NCF directly approach members of the public.
As a fully accredited member of the UKCF (United Kingdom Community Foundations), and one of 47 foundations operating across the UK, 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.
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## Achievements and Performance
## Delivering Impact Across Norfolk in 2024
programmes focused on:
- The cost-of-living crisis, providing urgent support to households in financial hardship.
In 2024, Norfolk Community Foundation continued to strengthen its role as a trusted partner for communities across the county delivering targeted investment, responsive support, and long-term solutions to the challenges facing local people. Through a combination of strategic mission-led funding and agile responses to emerging needs, NCF remained committed to addressing disadvantage, reducing inequality, and improving quality of life for those most at risk of being left behind.
- Health and wellbeing, ensuring communities had access to vital services and support.
- Sports and arts development, helping to sustain inclusive opportunities for engagement and expression.
We also continued to deliver grants to individuals through trusted local partners, offering direct support to those navigating difficult life circumstances, particularly during periods of transition or crisis.
## **Our Missions**
Over the course of the year, NCF distributed £7.9 million in grant funding, supporting 550 community groups and charities and 581 individuals facing hardship or life transitions. Every grant reflected our core purpose: to empower communities, unlock potential, and build a fairer, more resilient Norfolk.
At the heart of our strategy in 2024 was the continued development of our mission-led approach, designed to tackle the root causes of inequality and create lasting change. These six Missions reflect the priorities of Norfolk’s communities and NCF’s commitment to long-term, placebased impact.
- Alongside our strategic work, we responded to immediate challenges through targeted
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Grantmaking highlights
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£7.9m distributed 1,580 grant
in grant funding awards
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**550** community **581** individuals groups and facing hardship charities or life transitions supported supported
## Breakdown of grants
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Early years 2.1% Greening our
Communities 1.7%
Individuals 2.3%
Research 0.1%
Youth mental
health 3% Community
building 29.5%
Nourishing
4.8%
Norfolk
Skills 8.4%
Health 10.7%
Cost of
Arts and sports 11.7% living 25.6%
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## MISSION: LOVE NORFOLK Funding local action that builds stronger communities
innovative partnerships with care homes, schools, and local charities, they have embraced creative methods to build intergenerational friendships. One particularly impactful initiative involves hosting baby groups within care homes, offering residents a chance to engage with the youngest members of the community.
In 2024, £2,343,247 was invested to support grassroots groups and local leaders working to build stronger, more connected communities. This mission area recognises that local people understand their challenges best and are uniquely placed to drive meaningful change. Funding provided resources for community-driven projects, strengthened voluntary sector resilience, and created inclusive spaces where people can belong and thrive.
The impact of this work is profound. The daughter of one care home resident living with dementia shared: _**“He seems to come alive when the children from Friend In Deed visit him. It’s almost as if the years have been stripped away and he’s my old dad again.”**_
**Building stronger communities through intergenerational connection**
Investing in community-led initiatives is vital to fostering meaningful connections and ensuring a better future for all. Friend In Deed exemplifies this approach by bringing together parents, babies, and older individuals, creating opportunities for joy and companionship that transcend generations.
This initiative not only enriches the lives of older people but also fosters empathy and understanding among younger generations. By championing these connections, Friend In Deed is helping to shape a society where no one feels isolated and every generation has the opportunity to experience the joy of community.
With support from Love Norfolk funding, Friend In Deed has played a pivotal role in addressing social isolation. Through
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This place has given me a solution
and has helped my sense of
wellbeing so that I can manage
other parts of my life.
“
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## MISSION: NOURISHING NORFOLK Affordable food, healthier communities
Nourishing Norfolk supports food hubs where people can buy lowcost food, access support, and feel a part of their community. With £382,280 invested in 2024, Nourishing Norfolk continued to grow and support its network of 26 food hubs across the county. Since 2020, these hubs have provided access to affordable food to around 15,000 households while also offering wraparound support and community connection. The programme has helped reduce food insecurity, increased dignity in food access, and provided a lifeline during the cost-of-living crisis.
assistance and requiring a glutenfree diet, she endured months without proper meals or heating.
Initially hesitant to seek support, she eventually turned to a local food hub, an experience she now describes as life-changing. _**“This place has given me a solution and has helped my sense of wellbeing so that I can manage other parts of my life.”**_
The hub has become more than a place for essentials; it has evolved into a vital support system, restoring dignity and stability in the face of financial hardship. Through initiatives like this, communities ensure that no one is left behind, offering practical solutions that empower individuals to navigate life’s challenges with resilience.
## **Restoring dignity through community support**
The impact of the cost-of-living crisis has been deeply felt by many, including those who have dedicated their lives to supporting others. One woman, now in her 60s, retired early after decades of public service, working tirelessly to protect vulnerable individuals. Despite owning her home and receiving a pension, she found herself unable to afford basic necessities when rising costs outpaced her fixed income. Without eligibility for state
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## MISSION: YOUTH MENTAL HEALTH
## Providing accessible, early support to help improve young people’s wellbeing
A total of £241,685 was awarded to improve youth mental health outcomes in 2024. This mission area focuses on tackling rising levels of anxiety, depression, and emotional distress among young people, by funding communityled support that meets young people where they are, gives them safe places to be themselves, and access to trusted adults to support them.
**Supporting recovery and selfconfidence through communitybased therapy**
The Youth Mental Health mission continues to play a vital role in addressing the growing mental health challenges faced by young people across Norfolk. One area of increasing concern is the rise in eating disorders, which can have a profound impact on a young person’s physical health, emotional wellbeing, and social development.
With support from the Foundation, Eating Matters has been able to expand its provision of 1:1 counselling, offering timely, community-based support to young people most in need.
This funding has helped reduce waiting times and prevent escalation to inpatient care, which can be highly disruptive to education, friendships, and family life.
One young person referred to the service was experiencing a complex combination of an eating disorder, low mood, and self-harm. Over the course of 19 therapy sessions, they made significant progress—developing a healthier relationship with food, learning to express themselves more confidently, and building emotional resilience. By the end of their therapy, they had not selfharmed for six months, reported feeling more emotionally stable, and expressed pride in wearing clothes that reflected their true identity—an important milestone in their journey toward selfacceptance and recovery.
This case study powerfully illustrates the impact of early, accessible mental health support. Through Youth Mental Health, the Foundation is helping young people not only to recover, but to rediscover their confidence, identity, and hope for the future.
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## MISSION: GREENING OUR COMMUNITIES Supporting local action to combat climate change and create greener, more sustainable places
now serve as shared spaces, bringing neighbours together and fostering a renewed sense of community. Weekly gatherings offer opportunities for social connection and skill development, particularly benefiting individuals who were previously isolated or disconnected.
The Foundation awarded £134,650 through Greening our Communities to help Norfolk respond to the climate emergency at a local level. Projects included community-led biodiversity schemes, sustainable food growing, energy-saving initiatives, and environmental education. The programme continues to give communities the tools they need to act on climate and ecological challenges locally.
Among those positively impacted is a community member with a disability, who has embraced a new role in shaping and directing the garden with the support of fellow volunteers. _**“The garden has given me a purpose, something to look forward to in my week. I really feel like I am able to contribute.”**_
**Empowering communities through green spaces**
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Mile Cross Project and Events Group has demonstrated how global challenges like climate change can be addressed through local action, empowering individuals to create meaningful change in their own neighbourhoods. With the support of grant funding, the group has provided residents with the inspiration, time, and tools necessary to transform neglected spaces into thriving pockets of greenery.
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This initiative exemplifies the power of grassroots action, proving that small-scale interventions can lead to lasting environmental and social benefits. By supporting projects like this, communities can reclaim spaces, strengthen connections, and cultivate hope for a more sustainable future.
Once fly-tipping hotspots, these newly cultivated gardens
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## MISSION: SKILLS FOR NORFOLK
Unlocking opportunity by helping people of all ages build confidence and gain skills
about his ability to cope in a mainstream college environment.
With £670,468 invested,
the Foundation supported programmes that improved pathways into education, training, and employment for those furthest from the workplace. Targeted support reached young people at risk of leaving education or employment, adults looking to retrain for new careers, and communities affected by long-standing social and economic inequalities.
At Open Road, he found a smaller, supportive setting where he was able to thrive. Over the course of the year, he maintained excellent attendance and successfully achieved an IMI Level 1 Certificate in Automotive Maintenance. He also engaged in Maths and English sessions delivered in partnership with a local college, further strengthening his academic foundation. As his confidence grew, so did his aspirations. By the end of the placement, he felt ready to take the next step and successfully applied to a mainstream college. His guardian reflected on the transformation, sharing: _**“He’s become more independent and more aware of the things he can do. He’s willing to try new ways of dealing with different situations. I think it’s the confidence you have all helped him with.”**_
**Building confidence and skills for a brighter future**
Through the Skills for Norfolk mission, Norfolk Community Foundation is helping young people overcome barriers to education and employment by supporting practical, person-centred opportunities that build confidence and capability. With funding from the Foundation, Open Road in West Norfolk has been able to offer funded placements designed to bring young people closer to further education, training, and the workplace. One such placement made a life-changing difference for a young man who had previously felt uncertain
This case study highlights the tangible impact of Skills for Norfolk—empowering young people with the tools, support, and belief they need to take control of their futures.
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## MISSION: A BETTER CHILDHOOD Ensuring every child in Norfolk has the safety, support, and opportunities they need to thrive
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In 2024, £168,182 was directed toward creating A Better Childhood, supporting projects that create safe spaces, offer early learning, and build stability in families. From family support services to traumainformed education, this funding helped give children the secure foundations they need to build brighter futures, ensuring every child in Norfolk gets the best start in life.
## **Creating joy and inclusion through adaptive cycling**
Children with disabilities often face significant barriers to participation, particularly in physical activity and social inclusion. Through the support of A Better Childhood, Norfolk Community Foundation has enabled transformative opportunities for children and families who are too often left behind.
One such initiative is BikeActive Norfolk, which launched dedicated junior sessions using specially adapted cycles, made possible through Foundation funding. These sessions have
opened up the world of cycling to dozens of children, many for the very first time, offering not just physical activity, but a sense of freedom, achievement, and belonging.
Among the participants was a young boy living with cerebral palsy and a learning disability. For him, the opportunity to ride a wheelchair tandem was nothing short of life-changing. His mother shared how school holidays are often a time of isolation, with few accessible activities available. At BikeActive, they not only discovered the joy of cycling together on an electric tandem trike, but also found a welcoming and supportive community of families navigating similar challenges.
This project exemplifies the mission of A Better Childhood, to ensure that every child, regardless of ability, has the chance to thrive, participate, and feel included. It is a powerful reminder that with the right support, small interventions can have a profound and lasting impact on children’s lives and their families.
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## Other significant impact areas
## **Cost of living crisis response**
Through the Household Support Fund, NCF distributed £2,034,007 in emergency assistance to individuals and families in financial crisis. This vital funding helped people meet basic needs such as food, fuel, and shelter during a period of continued economic pressure.
## **Supporting Norfolk through the cost of living crisis**
Throughout 2024, the ongoing cost of living crisis placed immense pressure on individuals and families across Norfolk, particularly those on low incomes. In response, NCF worked in close partnership with Norfolk County Council to deliver two major crisis response funds, distributing over £2 million in targeted support to those most in need.
## **Spring 2024: Household Support Fund**
Through funding from the Department for Work and Pensions, the NCF administered the Household Support Fund, enabling 66 VCSE organisations to distribute £720,000 in direct support to 7,200 households experiencing financial hardship. Each household received a £100 contribution, with 81% of the funding used to provide food and food vouchers—a critical lifeline for many.
## One recipient shared:
_“I didn’t know how I was going to cope. It made a world of difference during a really tough time.”_
## **Summer 2024: Community-Based Hardship Support Fund**
Building on this success, the Community-Based Hardship Support Fund provided a further £1.18 million to 48 VCSE organisations, supporting 9,011 households. This fund not only offered immediate relief but also focused on medium and longerterm resilience. Support included:
- Access to debt advice and money-
- saving workshops
- Provision of school uniforms for families in need
- Purchase of energy-efficient appliances to replace costly rented white goods
One project partner reflected: _“Our cooking classes, designed for those shopping at our social supermarket, ensured that short-term support was followed up with longterm skills—helping to break the cycle of crisis.”_
These two funds exemplify the NCF’s commitment to responsive, community-led action during times of crisis. By working in partnership with local authorities and VCSE organisations, NCF has delivered both immediate relief and sustainable support, helping thousands of households navigate hardship with dignity and hope.
**£2m** in emergency **£850k** supporting cost of living health and support wellbeing
**£925k £181k** making championing life-changing sports and arts differences to activities individuals
## **Health and wellbeing**
championed creativity, inclusion, and active lifestyles. From grassroots sports clubs to community arts initiatives, helping people of all ages participate, connect, and express themselves.
NCF invested from a combination of statutory and private funding £853,487 to support improved health outcomes across Norfolk. Funding focused on reducing loneliness, promoting positive mental health, and enhancing access to services, particularly for people facing isolation or disadvantage.
## **Grants to individuals**
A further £181,350 supported individuals in need through trusted local partners, enabling timely interventions in cases of personal crisis, hardship, or transition. These small grants often make a lifechanging difference where no other help is available.
## **Sports and arts**
A significant investment from a single charitable trust, West Norfolk Lives, alongside other funders enabled £925,886 of grant making. This funding
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## Programme development
As part of Norfolk Community Foundation’s commitment to facilitate community coming together for transformation, 2024 saw significant programme development through two flagship initiatives: **Good for Good** and **the Nourishing Norfolk Distribution Hub** . These programmes reflect our strategic focus on building long-term resilience and strengthening local infrastructure.
## **Nourishing Norfolk Distribution Hub: Strengthening food security across the county**
Recognising the critical importance of ensuring that everyone in Norfolk has access to affordable, nutritious food, NCF has worked with partners to develop a sustainable and meaningful solution: A Network of Food Hubs across Norfolk.
This growing network of communityled food hubs provides low-cost food in welcoming, non-judgemental environments, while also offering wraparound support such as debt advice, cooking skills, and signposting to wider services.
To support this network effectively, the NCF established the Nourishing Norfolk Distribution Hub a central warehouse facility that sources, stores, and distributes food and essential goods to food hubs across the county.
The Hub plays a vital role in:
- Ensuring a consistent and reliable supply of affordable food to local hubs
- Reducing costs through bulk purchasing and surplus food redistribution
- Improving logistics and stock management efficiency
- Enabling local hubs to focus on community engagement and support services
In 2024, the Distribution Hub experienced significant growth:
- The number of participating hubs increased to 25, supporting over 30 locations, including rural and coastal communities with limited access to affordable food.
- The volume of distributed products rose by 125% compared to 2023.
- Product offerings were expanded to better meet community needs, including targeted provisions to address hygiene and period poverty.
By coordinating supply at a countywide level, the Distribution Hub strengthens the entire Nourishing Norfolk network ensuring that food hubs can meet growing demand while maintaining dignity, choice, and quality for the people they serve. This model is a cornerstone of the Nourishing Norfolk mission, demonstrating how strategic infrastructure can support grassroots action and create a more resilient, equitable food system for Norfolk.
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## Programme development continued
## **Good for Good: Strengthening business-community connections**
The Good for Good programme builds on NCF’s long-standing relationships with businesses who have taken action by establishing dedicated funds or provided pro bono support through the ProHelp programme. Originally grant-funded to transition to NCF in 2018, ProHelp was an initiative by Business in the Community (BITC) that matched charities seeking professional advice with businesses offering pro bono expertise.
Recognising the growing interest among businesses to advance their Environmental, Social, and Governance (ESG) agendas, Good for Good was launched in June 2024 as a practical, locally-focused framework to connect businesses with Norfolk’s voluntary sector. The initiative offers a meaningful route for companies to contribute to social value creation while enhancing their community engagement and corporate responsibility.
education, energy, IT, creative services, and tourism.
- 64 businesses provided multiple forms of support, demonstrating a strong commitment to flexible and collaborative community engagement.
-
The impact of Good for Good has been tangible across Norfolk’s voluntary sector:
- £645,729.83 was donated by businesses to support grantmaking and charitable activities, building on already established donor relationship with the NCF.
- £121,820 worth of professional time and expertise was contributed through pro bono work and skillssharing.
- Over 100 individual projects were supported by business professionals, including surveying for new premises, financial and legal advice, and architectural input for planning applications.
## In total:
- 137 businesses contributed time,
- 45 provided funding, and
-
- 24 shared physical or logistical assets.
This model of cross-sector
The response in the first six months has been exceptional. By the end of 2024:
- 137 businesses had signed up to participate, representing a 35.6% increase in business engagement since launch.
- Members represented a wide range of sectors, including agriculture, construction, law,
collaboration is enabling charities and community groups to expand their reach and impact, while offering businesses a clear, structured pathway to fulfilling their ESG ambitions. Good for Good is proving to be a transformative platform for creating shared value and building a more connected, resilient Norfolk.
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## Future plans
capabilities to ensure targeted and effective resource allocation, while evolving our impact and evaluation reporting to inspire greater unrestricted giving which will provide the flexibility needed to address emerging needs and champion longterm transformational projects.
Norfolk Community Foundation will proudly celebrate 20 years of service to local communities in 2025. This milestone presents an opportunity to reflect on the exceptional impact we have achieved delivering £50 million in community grants since our inception as well as to strengthen support around our ambitious vision for transformational change in the decade ahead.
**Expanding local giving and business engagement**
Innovation remains central to our approach. We will diversify and expand pathways for local giving, ensuring more tailored solutions for businesses eager to support their communities. Recognising the pivotal role of Professional Advisors, including lawyers and accountants, in donor introduction, we will further broaden and strengthen our professional networks to enhance local philanthropy.
In 2025 we will continue to advance our mission-led framework, deepening impact in six key areas crucial for fostering vibrant, sustainable, and resilient local communities. This means refining our community insight
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SENSE,
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Image: Richard Jarmy Photography
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## **Evaluating early transformational work**
In collaboration with the University of East Anglia, we will undertake an evaluation of our pioneering Nourishing Norfolk programme to assess its impact on economically struggling communities. This comprehensive review will explore health and wellbeing outcomes, alongside the social return on investment. Additionally, we will analyse NCF’s unique role in establishing and supporting the network, extracting valuable organisational and system-wide insights to inform future initiatives.
## **Organisational development and strategic oversight**
To optimise our impact, we will continue to strengthen internal processes, systems, and staff capacity, ensuring excellence in service to both communities and donors. Our Trustees remain fully engaged in providing strategic oversight, reinforcing risk governance, and safeguarding alignment with our core mission.
## **Looking ahead**
As we enter our third decade, we are committed to expanding the reach, depth, and sustainability of our six mission areas, ensuring we remain a trusted and responsive partner for the voluntary sector. By empowering communities and enabling local action, we will drive the transformation necessary to build vibrant, resilient, and sustainable communities across Norfolk.
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## Financial review
The financial position of the Norfolk Community Foundation is shown in the Statement of Financial Activities on page 45 and the Balance Sheet on page 47. In 2024, NCF experienced a significant increase in both income and expenditure, reflecting its ability to respond at scale to the ongoing cost of living crisis. Total income for the year reached £8.4 million, up from £6.8 million in 2023. This growth was driven primarily by a substantial rise in restricted income, which increased by £1.2 million to £7.2 million, largely due to targeted statutory funding secured to support households and communities facing financial hardship. As a result, NCF awarded £7.94 million in grants an increase of £3 million compared to the previous year, delivering large scale crisis response programmes in partnership with Norfolk County Council.
## Unrestricted income also saw
growth, largely due to a unrestricted legacy, rising from £117k in 2023 to £490k in 2024, supporting the NCF’s core operations and strategic development. Endowment income during the year was £735k.
NCF continues to benefit from the generosity of Jarrold & Sons Limited, who provide rent-free office space at Carmelite House. An annual service charge is paid, and this valued support helps reduce operational overheads.
In total, direct support to core costs amounted to £686k in 2024 comprising £490k in direct income and £196k in internal transfers. This enabled the NCF to maintain a low contribution rate from donations, ensuring that 90p in every £1 goes directly to the projects and community groups we support.
Core unrestricted expenditure totalled £1.29 million, resulting in a net deficit of £801k, however, this was largely offset by £944k in planned transfers, resulting in a final year end surplus of £143k.
Expenditure on raising funds was reduced to £366k, down from £476k in 2023, reflecting improved efficiency in income generation. Support and governance costs increased in line with the scale of programme delivery, ensuring robust oversight and operational capacity.
NCF’s financial position at the end of the year is considered satisfactory, with strong reserves, continued donor confidence, and a clear commitment to delivering meaningful impact across Norfolk.
## **Reserves policy**
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 £511k. The balance held as unrestricted funds at the 31 December 2024 was £853k.
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 NCF, and to invest any surplus. Both the level of designated and free reserves are monitored on a quarterly basis and reviewed annually by the NCF Audit and Risk Committee.
The total funds held by NCF at the end of this reporting period are £29,342k, which comprises £853k unrestricted, £3,660k restricted and £24,829k 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 2024, a total of £226k was drawdown from the investments for grant making.
The Trustees are satisfied with the market performance, seeing a growth in the NCF investment portfolio of 2%.
## **Estimates and judgements policy**
Norfolk Community Foundation’s financial statements rely on management judgements and estimates affecting income, expenditure, assets, and liabilities. These are based on historical data and current knowledge but may differ from actual outcomes.
## **Key areas of judgement:**
- **Investment valuation:** Fair value determined by market prices or estimation techniques.
- **Legacy income recognition:** Recognised when receipt is probable, entitlement established, and amount estimable.
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- **Provisions and contingent liabilities:** Assessed for obligations, probable outflows, and reliable estimates.
- **Depreciation and amortisation:** Based on asset lifespan, usage, and obsolescence.
- **Grants payable:** Recognised upon constructive obligation, considering grant terms and application stages.
**Financial oversight:** Estimates are reviewed regularly, with revisions reflected in current and future periods.
## **Critical accounting judgements:**
- **Expenditure classification:** Categorised based on charitable purpose, governance, or support.
- **Fund classification:** Determined by donor restrictions and funding agreements.
Transparent disclosure of significant estimates and judgements ensures the financial statements provide a fair and accurate reflection of the NCF’s financial position.
filings with Companies House and the Charity Commission, alongside robust data protection measures.
Annual IT and cyber security reviews strengthen internal processes, while disciplined financial oversight and governance enable NCF to navigate economic uncertainties, including potential challenges from the cost-of-living crisis. Our strong financial stewardship fosters donor confidence, ensuring continued support for grassroots charities. To enhance long-term sustainability, we diversify income streams, reducing reliance on any single source. Our investment strategy prioritises stability and dependable returns, ensuring sustained grant-giving capacity.
In response to emerging risks, our fiveyear plan secures future funding and strengthens organisational resilience. NCF’s reputation as a responsible funder, built on rigorous due diligence and effective delivery, continues to attract and manage diverse funding sources, reinforcing our commitment to lasting community impact.
## **Risk management**
The Trustees regularly assess risks facing NCF, maintaining a comprehensive risk register to safeguard operations. As both a charity and a company limited by guarantee, we ensure full compliance with regulations, including timely
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## 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 NCF, including certain trusts being transferred from Norfolk County Council. The NCF 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 NCF from that date.
## Constitution
Norfolk Community Foundation (“the NCF”) 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 NCF 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.
## Trustee recruitment, appointment, and development
## Trustees are nominated based
on their skills, expertise, and local knowledge to help guide NCF in achieving its mission. Since 2020, NCF has maintained an open recruitment policy to obtain the skills required and operate transparently.
Under the Articles of Association,
Trustees serve three-year terms, with eligibility for one re-election. A regular skills audit identifies gaps created by retiring Trustees, informing future recruitment. Trustees may be reappointed for an additional year after two terms if the Board deems it necessary by simple majority, and a 75% majority is required for appointments beyond seven years under exceptional circumstances.
New Trustees receive an Induction Pack, including governance documents, financial statements, impact reports, and key policies. They are signposted to Charity Commission resources for further guidance.
Ongoing development includes an annual training session or away day, plus access to local trustee seminars, sector newsletters, and insights from UKCF and other advisory bodies.
## Governance and leadership
The Board of Trustees meets quarterly, with business conducted between meetings through subcommittees providing reports for board approval:
- Audit & Risk Committee
- People & Nominations Committee
- Recognising the importance of
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strong governance and the growing transformational activity, in addition, NCF has established two Operations Boards:
- **Nourishing Norfolk Operations Board:** Oversees food hub network and distribution infrastructure, chaired by NCF’s Chair.
- **Good for Good Operations Board:** Guides business engagement programme, led by the Vice Chair.
Both boards meet quarterly and include the CEO, senior leadership, and industry experts to ensure strategic oversight and accountability.
## **Executive leadership and grant oversight**
Day-to-day management in 2024 was led by the Chief Executive, supported by the Directors of Finance & Operations and Programmes, alongside Programme, Finance, Marketing, and Giving Teams, with operational support from a full-time Office Manager.
Trustees delegate grant approvals up to £25,000 to the Executive Team, with ratified grants reported monthly 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 be 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 judgements 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 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.
## **Fiona McDiarmid, Chair**
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## Independent auditor’s report to the members and trustees of Norfolk Community Foundation
## Opinion
Generally Accepted Accounting Practice; and
We have audited the financial statements of Norfolk Community Foundation for the year ended 31 December 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The 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.
## 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 Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’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 of the parent charitable company’s affairs as at 31 December 2024 and of the Group’s incoming resources and application of resources, including its income and expenditure for the year then ended;
## Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of
- have been properly prepared in accordance with United Kingdom
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 Group’s or the parent 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 Trustees with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## 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’ report for the financial year for which the financial statements are
- prepared is consistent with the financial statements.
- the Trustees’ report has been prepared in accordance with applicable legal requirements.
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## Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and
returns; or
- certain disclosures of Trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## 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
## non-compliance with laws and regulations and fraud;
- review of board and sub-committee 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 noncompliance 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.
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:** `18 July 2025`
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44
## Aggregated statement of financial activities for the year ended 31 December 2024
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Unrestricted Restricted Endowment 2024 2023
Funds Funds Funds Total Total
Notes £000 £000 £000 £000 £000
**----- End of picture text -----**
|**Income and endowments:**|||||||
|---|---|---|---|---|---|---|
|Other donations|3|323|6,621|545|7,199|6,008|
|Gif Aid||13|64|8|85|102|
|Investment income|4|154|510|180|846|733|
|**Total income**||**490**|**7,195**|**735**|**8,420**|**6,843**|
|**Expenditure on:**|||||||
|Raising funds|5|259|102|5|366|447|
|Charitable activities:|||||||
|Grants awarded|5|-|7,940|-|7,940|4,966|
|Support costs|5|923|266|-|1,189|802|
|Governance costs|5|109|-|-|109|90|
|**Total expenditure**||**1,291**|**8,308**|**5**|**9,604**|**6,305**|
|**Net income/(expenditure)**|||||||
|**and net movement in funds**
**before gains and losses on**||**(801)**|**(1,113)**|**730**|**(1,184)**|**538**|
|**investments**|||||||
|Net gains/(losses) on|||||||
|investments:|||||||
|Realised|11|||84|84|29|
|Unrealised|11|||439|439|1,764|
|**Net income/(expenditure)**
**before transfers**||**(801)**|**(1,113)**|**1,253**|**(661)**|**2,329**|
|Transfers between funds|14&15|944|720|(1,664)|-|-|
|**Net movement in funds**||**143**|**(393)**|**(411)**|**(661)**|**2,329**|
|**Reconcilliation of funds:**|||||||
|Total funds brought forward|15|710|4,053|25,240|30,003|27,675|
|**Total funds carried forward**|**15**|**853**|**3,660**|**24,829**|**29,342**|**30,003**|
## Aggregated summary income and expenditure account for the year ended 31 December 2024
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2024 total 2023 total
£000 £000
**----- End of picture text -----**
|Income|7,690|6,357|
|---|---|---|
|Transfer from Endowment Funds|1,664|555|
|Gross income in the reporting period|9,354|6,912|
|Total expenditure in the reporting period|(9,604)|(6,305)|
|Net income/(expenditure) for the year|(250)|607|
Aggregated statement of recognised gains and losses for the year ended 31 December 2024
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2024 total 2023 total
£000 £000
**----- End of picture text -----**
||||
|---|---|---|
||(250)
(411)
(661)
_cial statements._|607
(1,718)
2,325|
|Net income/(expenditure) for the year|||
|Net movement in Endowment Funds|||
||||
|Net movement in Funds|||
||||
|_The notes on pages 49 to 86 form par of the finan_|||
_All recognised gains and losses are included in the Statement of Financial Activities above and relate to continuing operations. The notes on pages 49 to 86 form part of the financial statements._
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## Charity aggregated balance sheet at 31 December 2024
## Company number 5234236
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2024 2023
Charitable Charitable aggregated aggregated
Company Trust total total
Notes £000 £000 £000 £000
**----- End of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|**Fixed assets**|||||||||
|Tangible assets|10||||||||
|Investments|||||||||
||**22,840**
**2,569**
**25,409**
**25,382**||||||||
||||||||||
|**Current assets**|||||||||
|Debtors|12||603|-||313|579||
|Stock|||32|-||32|29||
|Cash at bank|||3,717|-||3,717|4,267||
||||**4,352**|**-**||**4,062**|**4,875**||
||||||||||
|**Liabilities**|||||||||
|Creditors: amounts falling due
within oneyear||13|(419)||-|(419)||(254)|
|**Net current assets**
**Total assets less current liabilities**|||||||||
||||**3,993**||**-**|**3,643**||**4,621**|
||||**26,773**||**2,569**|**29,052**||**30,003**|
|**Total net assets**|||**26,773**
**2,569**
**29,052**
**30,003**||||||
||||||||||
|**Income funds**|||||||||
|Unrestricted funds|||||||||
|General funds|||853|-||853|709||
|Designated funds|||-|-||-|-||
|Restricted funds|14||3,660|-||3,660|4,053||
||||||||||
|**Endowment funds**|||||||||
|Permanent Endowments|15||-
22,260|2,569
-||2,569
22,260|2,458
22,782||
|Expendable Endowments|15||||||||
|**Total funds**
**15**|||||||||
||||**26,773**||**2,569**|**29,342**||**30,003**|
_The financial statements were approved by the Board and authorised for issue on 30 June 2025 and signed on its behalf by:_
**Fiona McDiarmid, Chair** _........................................................_ **Tom Burdett, Trustee** _........................................................_
## Cash flow statement for the year ended 31 December 2024
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2024 2023
Note £000 £000
Net cash used in operating activities a (1,867) (458)
Cash flows from investing activities:
Interest and dividends from investments 846 733
Purchase of listed investments (2,359) (927)
Proceeds from sale of listed investments 3,139 1,212
Net (increase)/reduction in cash deposit investments (284) 1,496
Purchase of tangible assets (25) (18)
Proceeds from sale of tangible assets - 150
Net cash provided by/(used in) investing activities 1,317 2,646
Change in cash and cash equivalents in the year (550) 2,188
Cash and cash equivalents at the beginning of the year 4,267 2,079
Cash and cash equivalents at the end of the year b 3,717 4,267
a. Reconciliation of net income/(expenditure) to net cash 2024 2023
inflow from operating activities £000 £000
Net income/(expenditure) for the year (661) 2,331
Adjustments for:
(Gains)/losses on investments (523) (1,821)
Dividends and interest from investments (846) (733)
Depreciation charges 25 23
(Increase)/decrease in stocks (3) (30)
(Increase)/decrease in debtors (24) (204)
(Decrease) in creditors 165 (24)
Net cash provided by/(used in) operating activities (1,867) (458)
2024 2023
b. Analysis of cash and cash equivalents £000 £000
Cash in hand 3,717 4,267
3,717 4,267
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## Notes to the financial statements for the year ended 31 December 2024
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.
## 01. ACCOUNTING POLICIES
## Basis of accounting
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 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 multiyear 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.
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 charitable company is sole trustee of the trust and accordingly is not the
## 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 (unrestricted) fund.
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 grantmaking. The percentage is decided annually by the Trustees and is currently 4%.
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
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49 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
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 and office equipment** 25% reducing balance
## **Website**
3 years straight line basis
## **Furniture and 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 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
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income tax and capital gains tax, but not from VAT.
## 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 an accruals basis.
## Legal status of the Foundation
## 02. DONATIONS TOWARDS CORE COSTS
Donations and grants towards core costs total £Nil (2023: £Nil), all is unrestricted (2023: 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
## 03. OTHER DONATIONS AND GRANTS
||**Current year**||**Unrestricted**
**funds**
**£000**||**Restricted**
**funds**
**£000**|**Endowment**
**funds**
**£000**|**2024**
**£000**|
|---|---|---|---|---|---|---|---|
|Forgrant makingand endowment funds|||277||6,576|553|7,406|
||Donatedgoods and services||59||108|-|167|
||||336||6,684|553|7,573|
||**Prior year**||**Unrestricted**
**funds**
**£000**|**Unrestricted**|**Restricted**
**funds**
**£000**|**Endowment**
**funds**
**£000**|**2023**
**£000**|
||Forgrant makingand endowment funds||25||5,707|295|6,027|
||Donated services||52||30|-|82|
||||77||5,737|295|6,109|
- The Manor Trust
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.
- Jarrold & Sons Limited
- Norse Group Limited
In addition, amounts totalling £944k 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:-
## 04. INCOME FROM INVESTMENTS
Investment income was £846k (2023: £732k) of which £154k was unrestricted (2023: £40k), £510k was restricted (2023: £501k) and £182k to endowment (2023: £191k).
**----- Start of picture text -----**
2024 2023
£000 £000
Endowment Funds 242 555
Restricted Funds 702 336
944 891
**----- End of picture text -----**
53
54
# 05. EXPENDITURE ~~—~~
|**Current year**||**Basis of allocation**|**Basis of allocation**|**Costs of**
**raising**
**funds**
**£000**|**Costs of**
**charitable**
**activities**
**£000**|**Governance**
**costs**
**£000**|**Governance**
**costs**
**£000**|**Total**
**2024**
**£000**||**Prior year**||**Basis of allocation**|**Basis of allocation**|**Costs of**
**raising**
**funds**
**£000**|**Costs of**
**charitable**
**activities**
**£000**|**Governance**
**costs**
**£000**|**Total**
**2023**
**£000**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Grants awarded (note 6)|||Direct||7,940|||7,940||Grants awarded (note 6)|||Direct|-|4,938||4,938|
|||||||||||||||||||
|Salaries and pension costs|||Staff time|191|735||75|1,001||Salaries and pension costs|||Staff time|176|645|60|881|
|Premises expenses|||Staff time|20|77||5|102||Premises expenses|||Staff time|19|71|5|95|
|Other office expenses|||Staff time|2|5||1|8||Other office expenses|||Staff time|2|7|-|9|
|Trainingand conferences|||Staff time|1|4||-|5||Trainingand conferences|||Staff time|2|8|1|11|
|Recruitment costs|||Staff time|-|1||-|1||Recruitment costs|||Staff time|-|-|-|-|
|IT and computer costs|||Staff time|10|10||2|22||IT and computer costs|||Staff time|9|9|2|20|
|Advertisingand marketing|||Direct|1|4||-|5||Advertisingand marketing|||Direct|-|2|-|2|
|Printingcosts|||Direct|2|2||-|4||Printingcosts|||Direct|2|2|-|4|
|Consultancy services|||Staff time|11|-||1|12||Website development|||Staff time|-|-|-|-|
|Publications and subscriptions|||Staff time|1|5||-|6||Publications and subscriptions|||Staff time|1|5|-|6|
|Telephone and postage|||Staff time|1|4||-|5||Telephone and postage|||Staff time|1|4|-|5|
|Travel and accommodation|||Staff time|1|5||-|6||Travel and accommodation|||Staff time|1|5|-|6|
|Insurances|||Staff time|2|7||1|10||Insurances|||Staff time|-|2|-|2|
|Professional fees|||Staff time|13|48||4|65||Professional fees|||Staff time|7|27|2|36|
|Research expenses|||Direct|-|4||-|4||Depreciation|||Staff time|5|17|1|23|
|Depreciation|||Staff time|4|15||1|20||Audit and accountancy|||Direct|-|-|17|17|
|Audit fee|||Direct||||19|~~19~~||||||**225**|**804**|**88**|**1,117**|
|||||||||||||||||||
|||||**260**|**926**||**109**|**1,295**||||||||||
|||||||||||**Cost of Charitable Activities**||||||||
|**Cost of Charitable Activities**||||||||||Nourishing Norfolk Hub expenses||||-|28|-|28|
|||||||||||||||||||
|Nourishing Norfolk Hub expenses|||Direct|-|261||-|261||||||||||
|NourishingNorfolk Hub charges|||Direct|6|-||-|6||**Restricted Fund**||||||||
|||||||||||Revenue Fund costs||||222|-|-|222|
|||||||||||||||||||
|**Restricted Fund**||||||||||||||||||
|||||||||||||||||||
|Revenue Fund costs||||102|-||-|102||**Total (including grants)**||||**447**|**5,570**|**88**|**6,305**|
|||||||||||||||||||
|||||||||||||||||||
|**Total (including grants)**
**362**
**9,127**
**109**
**9,604**
Expenditure on raising funds was £362k (2023: £447k) of which £260k was
unrestricted (2023: £225k) and £108k was restricted (2023: £222k).
Expenditure on charitable activities was £9,127k (2023: £5,768k) of which £925k was
unrestricted (2023: £802k) and £8,202k was restricted (2023: £5,641k).
Expenditure on governance costs was £109k (2023: £88k) of which all was
unrestricted (2023: all).
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~~_~~|||||||||Expenditure on charitable activities was £9,127k (2023: £5,768k) of which £925k was
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~~_~~|
Expenditure on raising funds was £362k (2023: £447k) of which £260k was unrestricted (2023: £225k) and £108k was restricted (2023: £222k).
Expenditure on charitable activities was £9,127k (2023: £5,768k) of which £925k was unrestricted (2023: £802k) and £8,202k was restricted (2023: £5,641k).
Expenditure on governance costs was £109k (2023: £88k) of which all was unrestricted (2023: all).
## 06. GRANTS PAYABLE
Grants totalling £7,940,567 were awarded during the year (2023: £4,938,197).
- £7,759,216 to 550 different community groups and other organisations (2023: £4,868,535 to 531).
- £181,350 to 581 individuals, primarily through carers grants available from the Norfolk Millennium Trust for Carers and Inspiring Opportunities Fund for Children in Care (2023: £69,663 to 285).
The average grant awarded in 2024 was £7,767 (2023: £9,169).
This shows a 15% decrease from 2023, 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 47% of the number of all grants made in 2024.
The following chart shows the primary area of benefit of grants awarded in 2024. It is noted that in many cases funded organisations reach across multiple areas with their work which may not be reflected here.
## % of grants made by primary area of benefit
**Breckland** 8% **Broadland** 5%
**Great Yarmouth** 10%
**North Norfolk** 9%
**----- Start of picture text -----**
Norwich
27%
**----- End of picture text -----**
**----- Start of picture text -----**
South Norfolk
14%
**----- End of picture text -----**
**----- Start of picture text -----**
West Norfolk
26%
Other
1%
**----- End of picture text -----**
## 06. GRANTS PAYABLE - LARGE GRANTS
The following list shows the largest grants approved in 2024, with a value of £20,000 and over.
|**Organisation**|**Amount**
**awarded**|**Project description - summary**|
|---|---|---|
|Norfolk and|£500,000|The Miracle Magnets for Hearts appeal is raising £1.5m for a|
|Norwich Hospitals||Magnetic Resonance Imaging (MRI) scanner which is capable|
|Charity (N&N)||of diagnose heart disease more accurately than x-ray tests|
|||or tubes inside the heart. The Norfolk Heart Trust have been|
|||fundraising for a new MRI Scanner for the N&N Cardiology|
|||Dept and the £500k is for the deposit for this new equipment.|
|||The payment is going to the N&N Hospitals Chairty, who are|
|||arrangingthe order and providingsome match funding.|
|Inspiration Trust|£140,000|To support Inspiration Trust to provide additional reading|
|||support to pupils who are two or more years behind in their|
|||chronological readingage.|
|CAB Diss, Thetford
& District|£109,950|To support the set up, running and staff costs for the first year
of the new Breckland Mobile Service for affordable food.|
|Norfolk and|£64,935|For the extension of the Clinical Psychology post for Cardiology|
|Norwich Hospitals||at the N&N for 18 months from when the current contract|
|Charity (N&N)||finishes.|
|Cromer Cares|£50,000|To support 500 households with utilities assistance to the value|
|||of £100 each.|
|The Adapted|£50,000|To support the costs associated with the first phase of|
|Sports Hub Trust||progressingthe buildingplans for a fully adapted sports hub.|
|Leeway Domestic|£50,000|To hold a Hardship Fund for households accessing NIDAS|
|Violence and||services to apply into via their support workers.|
|Abuse Services|||
|Festival Too|£50,000|To contribute to the delivery of festival activities, including 40-|
|||year celebration of Festival Too in 2025.|
|West Norfolk|£50,000|To upgrade and extend the changing rooms and activity areas|
|Rugby Union||at the club to provide safe and appropriate facilities for all age|
|Football Club||groups andgenders.|
|Snettisham|£50,000|To renovate the Snettisham Memorial Pavilion|
|Memorial Village|||
|Hall, Pavilion &|||
|PlayingField|||
|The Norfolk|£50,000|To contribute £16,040 towards the installation of solar panels|
|Hospice||on the Hospice roof, and to contribute £33,960 towards general|
|||runningcosts.|
|University of East|£50,000|For the Centre for Advanced Environmental Microbiology.|
|Anglia|||
|Pandora Project|£50,000|To make direct payments of £250 to 200 clients, all in need|
|||of financial help (currently working with 128 individuals and|
|||increasingto circa 200 by the end of September).|
|Downham Stow|£50,000|To extend the existing clubhouse to accommodate a larger|
|Cricket Club||kitchen, bar and social area.|
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**----- Start of picture text -----**
Organisation Amount Project description - summary
awarded
**----- End of picture text -----**
|The Aylsham|£50,000|To support up to 221 households with grants for either school|
|---|---|---|
|Community Trust||uniforms or household essentials.|
|(TACT) Families|||
|North Runcton|£50,000|To contribute to phase 3 of the clubhouse refurbishment|
|Cricket Club||project.|
|Creative Arts East|£49,992|To provide monthly artist-led workshops (between 2024-2029)|
|||for older people experiencing ill health and/or loneliness in|
|||Hunstanton and Great Massingham.|
|Caring Together|£49,936|To expand the services provided to support unpaid carers|
|Charity||with breaks from their caring roles, specifically through their|
|||Befriending Service, What If? programme and Family Carers|
|||Prescription Service.|
|The Purleet Trust|£49,596|To provide £100 store credit for 340 members of The Purleet|
|||Pantry, support 100 households with £80 of school uniform|
|||costs, and provide 70 beds via House 2 Home.|
|Watlington Parish|£49,255|To construct a new sports pavilion at the Recreation Ground in|
|Council||Watlington|
|Thornham Village|£48,080|To build a new Sports Pavilion to replace the 50 year old wooden|
|Hall and Playing||structure|
|Field Ltd|||
|Docking Playing
Fields Association|£48,080|To resurace and replace the current tennis court, which is no longer
suitable for use, with a new Multi Use Games Area (MUGA) surace.|
|Downham Stow|£48,080|To install an artificial all-weather cricket training facility.|
|Cricket Club|||
|Age Connected|£46,060|To support older people in Great Yarmouth with winter warmth|
|Great Yarmouth||essentials, food and clothing costs.|
|The Garage Trust|£43,808|To sustain and develop The Workshop’s inclusion work in West Norolk,|
|Ltd||including Creative Foundations and three co-design projects.|
|St Edmunds Society|£43,714|Towards delivering the 2-week Summer Programme and supporting|
|||students with uniform, PPE, hygiene and stationary packs, £100|
|||vouchers, and an amazon tablet.|
|DIAL Great|£43,601|To deliver their specialist money, debt, employment and benefit|
|Yarmouth||advice services to local residents.|
|Access Community|£42,204|Distribute 500 essential ingredient kits, which contain a slow cooker|
|Trust||associated recipe books/cards and an ingredient pack.|
|Opening Doors|£41,713|To deliver 28 ‘Let’s talk about money’ group sessions for adults with|
|||learning disabilities, provide 1:1 in-depth ‘advice and action’ support|
|||programme for adults most at risk, and distribute 180 emergency|
|||packs.|
|The Feed|£40,017|To fund the Support and Advice Pilot project|
|Foundation|||
|Pandora Project|£40,000|To cover the salary for a senior support worker. As well as for some
running costs, such as staf mileage, phone contracts and room hire|
|King's Lynn Festival|£39,176|To begin a young people's participation programme with school|
|Ltd.||students and families called Bridging the Gap.|
|Gateway Vineyard|£37,290|To support a number of requests, including back to school microgrants|
|||for 207 pupils in the Hellsedon and Thorpe area, emergency hygiene|
|||kits, community meals and transport, and an event to support mothers|
|||through the Growkids project.|
|The Norolk Hospice|£33,960|To install solar panels on the Hospice roof to reduce energy costs and
improve eficiency.|
**----- Start of picture text -----**
Organisation Amount Project description - summary
awarded
**----- End of picture text -----**
|NR5 Project - Future|£30,143|To deliver a programme of support to help ease the impact of the cost|
|---|---|---|
|Projects||of living crisis.|
|The Forum Trust|£30,003|To develop and perorm a theatrical production based on local food|
|||science research for reception and primary school students, and|
|||provide follow up workshops and resources.|
|Dereham Aid Centre|£30,000|Most of the funding is to purchase of supermarket vouchers for service|
|||users and a small proportion to help with transport costs|
|The Purleet Trust|£29,973|To contribute towards the costs of running the "Purleet Patch" Kitchen|
|||Garden/Allotment|
|Soul Foundation|£29,970|To support families with school uniform vouchers and snack packs at|
|||the food hub.|
|Social Moments|£29,351|To support the setup and running costs of the Broadland Mobile Food|
|Enterprise||Hub for its first year of delivery.|
|Oak Grove|£27,805|To provide support for 142 families over the school summer holidays.|
|Community Church|||
|University of East|£27,000|To contribute to the childhood bone cancer research at the UEA, for|
|Anglia||the charity registered section of the UEA where the funds are used|
|||specifically on childhood bone cancer research.|
|St Giles Trust|£26,600|To support households in hardship through additional food allowance|
|||at the Magdalen Street Pantry, school uniforms and stationery, picnic|
|||kits and family activities, employment support, and money skills|
|||workshops.|
|The Bridge Plus|£26,504|To support households from ethnic minority and/or migrant|
|||backgrounds to maximise income via advice, food vouchers and a|
|||community lunch.|
|Helping Hands|£26,000|To provide support to 120 families across fuel, school uniform, club fees|
|||and transport and run a cookery skills course.|
|Red House Youth|£25,000|Red House Youth Projects (Registered Charity No. 1092828) is a|
|Trust||charitable trust which supports work with young people under the age|
|||of 21 within the County of Norolk. This funding is to provide financial|
|||support through Red House’s grant making process for projects,|
|||events and opportunities for residential experiences at the property|
|||owned and run by the Trust.|
|Red House Youth|£25,000|Red House Youth Projects (Registered Charity No. 1092828) is a|
|Trust||charitable trust which supports work with young people under|
|||the age of 21 within the County of Norolk. This funding is to|
|||provide financial support through Red House’s grant making|
|||process for projects, events and opportunities for residential|
|||experiences at the property owned and run by the Trust.|
|Inspiration Trust|£25,000|To support Inspiration Trust to provide additional reading support to|
|||pupils who are two or more years behind in their chronological reading|
|||age.|
|The Feed
Enterprises CIC|£25,000|To move premises and set up a professional catering hub at the
Norolk Showground.|
|Bircham Centre|£24,619|To employ a Community Engagement Worker to develop groups and|
|||activities at the Centre according to community needs.|
|National Literacy|£23,290|To cover the cost of delivery of Reading Buddies and Take10|
|Trust|||
|Hunstanton and|£22,902|To support struggling households of pupils of two local primary|
|District Foodbank||schools with energy and food vouchers, school uniform, and stationery|
|||packs.|
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|**Organisation**|**Amount**
**awarded**|**Project description - summary**|
|---|---|---|
|Shrublands Youth|£21,825|1) To work with a local school wear provider to supply 200+ children|
|and Adult Centre||with school uniform; 2) to provide 20 families with air fryers. Extended|
|Charitable Trust||17/9/24 to include winter coats for children.|
|SIMPLE Norfolk|£21,750|To provide financial assistance to households in the Thetford area,|
|||towards school clothing, household appliances, and essential living|
|||costs.|
|Norfolk Blood Bikes|£20,000|To purchase an additional motorbike, associated equipment and|
|||contribute to its running costs.|
|Girlguiding Great|£20,000|To support 200 families containing a girlguider across Great Yarmouth|
|Yarmouth Division||with £100 supermarket vouchers.|
|Charlotte Harvey|£20,000|To support 200 members of the Watton Food Hub with £100 store|
|Trust||credit.|
|Norfolk Community|£20,000|To offer 200 supermarket vouchers to NCLS clients|
|Law Service|||
|Silver Road|£20,000|To help NR3 residents experiencing hardship with 150 x £100|
|Community Centre||supermarket vouchers, 20 air-fryers and 20 slow-cookers.|
|About with Friends|£20,000|To provide support with food or household bills for 200 members|
|Charles Burrell|£20,000|To provide 200 households with either £100 store credit to spend on|
|Centre Ltd||their groceries and household items in the Burrell Shop or credit on|
|||their water/ energy bill/ meter key.|
|Charles Burrell|£20,000|To support 50 households via the Helping Hands project.|
|Centre Ltd|||
|SIMPLE Norfolk|£20,000|To support 200 households with £100 supermarket vouchers, food|
|||parcels to non-mobile beneficiaries, or cash donations towards food|
|||costs.|
|Gateway Vineyard|£20,000|To support 200 households with £100 food support in the form of|
|||supermarket voucher.|
|The Feed|£20,000|To provide 200 households with £100 store credit or top up peoples fuel|
|Foundation||credit online|
|Kingsgate|£20,000|To support those in need with access to laundry and shower facilities,|
|Community Church||food, clothes, household appliances and utility bill top-ups.|
|(Great Yarmouth)|||
|Feathers Futures|£20,000|To purchase 200 £100 supermarket vouchers for women|
|CIO||accessingtheir services|
|Fresh Start Future|£20,000|To support 200 individuals with supermarket gift cards and purchasing|
|Enterprises||a fuel top up for gas and electric bills on behalf of the individuals.|
|Stoke Ferry|£20,000|To support 200 household with supermarket vouchers to the value of|
|Community||£100.|
|Enterprise Limited|||
|Helping Hands|£20,000|To provide store credit at their pantry for 200 members|
|North Walsham|£20,000|To support 200 households with £100 of support with food costs.|
|Phoenix Group|||
|Dereham Aid Centre|£20,000|To support 200 households with £100 food vouchers to use at Roys|
|||Supermarket in Dereham.|
|ENYP|£20,000|To support 200 households with £100 of credit for use in ENYP's social|
|||supermarket.|
|New Routes|£20,000|To support 200 households with £100 Tesco vouchers|
|Integration|||
|Ludham PCC|£20,000|To support 200 local households with £100 grants. The applicant|
|||provide guidance alongside the grant of how this support should be|
|||used.|
|**Organisation**|**Amount**
**awarded**|**Project description - summary**|
|---|---|---|
|Shrublands Youth|£20,000|To provide foodclub credit to 200 households|
|and Adult Centre|||
|Charitable Trust|||
|SWAN Youth Project
(Norfolk)|£20,000|To contribute towards the running costs for the coming year.|
|The Purfleet Trust|£20,000|To provide 200 households with store credit|
|Wells Community|£20,000|To support households with subsidised fresh food, school uniform|
|Hospital||and clothing, emergency fuel and essentials, information packs, and|
|||supported budgeting and job searching with a key worker.|
|Westacre Arts|£20,000|To install 30 solar panels onto the Studio’s south facing roof, and to|
|Foundation Ltd||link this to the existing 30 solar panels on the shed building, and to link|
|||the 22,000 kWh combined output of both arrays to a 29 KW system of|
|||battery backup storage.|
|Pandora Project|£20,000|To provide supermarket vouchers and utility support to 200 women|
|||and children who have been faced with domestic abuse.|
|Access Community|£20,000|To support 200 households with food and fuel vouchers as well as|
|Trust||household kits designed with individual need in mind.|
|The Aylsham|£20,000|To support 200 households with either a supermarket voucher or a|
|Community Trust||direct bank transfer to support with purchasing food or household|
|(TACT) Families||utility bills.|
|8:56 Foundation|£20,000|To support the running costs of sporting activities and the costs of two|
|||wellness retreats.|
|07. NET INCOMING RESOURCES FOR THE PERIOD|||
|---|---|---|
||**2024**
**£000**
**2023**
**£000**||
|This is stated after charging:-|||
|Depreciation|25|22|
|Auditor’s remuneration (includingVAT)|||
|Audit fees|14|13|
|Accountingsupport and advisory|4|4|
61 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
62
## 08. ANALYSIS OF STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL
**----- Start of picture text -----**
2024 2023
£000 £000
Staff costs were as follows:-
**----- End of picture text -----**
|Staf costs were as follows:-|||
|---|---|---|
|Salaries|859
80
61|772
69
40|
|Social security costs|||
|Pension contributions|||
||**1,000**|**881**|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|**2024**
**No.**
**2023**
**No.**|**2024**
**No.**
**2023**
**No.**|**2024**
**No.**
**2023**
**No.**|
|---|---|---|
|£60,001-£70,000|1
1
1|-
-
1|
|£70,001-£80,000|||
|£80,001-£90,000|||
## 10. TANGIBLE FIXED ASSETS
**----- Start of picture text -----**
Group and company Group and company
computers and office land and PPE
equipment (restricted) Total
£000 £000 £000
**----- End of picture text -----**
|**Cost**||||
|---|---|---|---|
|At 1 January 2024|119|12|131|
|Additions|25|-|25|
|At 31 December 2024
144||12|156|
|||||
|**Depreciation**||||
|At 1 January 2024|71|3|74|
|Charge for the period|22|3|25|
|At 31 December 2024|93|6|99|
|||||
|**Net book value**||||
|At 31 December 2024|51|6|57|
|At 31 December 2023|48|9|57|
Employers’ pension contributions in respect of the employees whose employee benefits (excluding employer pension costs) exceeded £60,000 were:
|**2024**
**£**
**2023**
**£**|**2024**
**£**
**2023**
**£**|**2024**
**£**
**2023**
**£**|
|---|---|---|
|In the band £60,001-£70,000|2,875
3,088
23,706|-
-
7,458|
|In the band £70,001-£80,000|||
|In the band £80,001-£90,000|||
The average number of employees during the year, calculated on the basis of full time equivalents, was 27 (2023: 26).
The key management personnel in the year received a total remuneration including pension and employers national insurance contributions of £247,876 (2023: £320,721).
## 09. TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS
No trustees (2023: None) were reimbursed for expenses during the year (2023: £Nil)
Donations, without conditions attached that would significantly alter the nature of the charity’s activities, were received in the period of £30,457 (2023: £20,000) from related parties.
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63 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
## 11. INVESTMENTS
||**2024**
**£000**|**2023**
**£000**|
|---|---|---|
|**Aggregated**|||
|Listed Investments|24,375|24,636|
|Cash deposits|977|689|
|Total investments|**25,352**|**25,325**|
|**Charitable company**|||
|Listed Investments|21,869|22,425|
|Cash deposits|850|642|
|Total investments|**22,719**|**23,067**|
|**Charitable trust**|||
|Listed Investments|2,506|2,211|
|Cash deposits|127|47|
|Total investments|**2,633**|**2,258**|
|**Listed investments at valuation**|||
|At 1 January 2024|24,636|23,134|
|Additions at cost|2,359|927|
|Disposals|(3,139)|(1,212)|
|Fees|(4)|(6)|
|Realised/Unrealised gains/losses|523|1,793|
|At 31 December 2024|**24,375**|**24,636**|
|**Analysis of Funds**|||
|Barclays Wealth|1,393|2,085|
|CCLA – (Charitable Company)|17,084|17,186|
|M&G|-|361|
|Barratt & Cooke - (Charitable Company)|3,338|3,414|
|Barratt & Cooke - (Charitable Trust)|1,762|1,587|
|CPF|54|53|
|CCLA – (Charitable Trust)|744|-|
||**24,375**|**24,636**|
|**Endowment cash deposits**|127|47|
|**Other cash deposits**|850|642|
||**977**|**689**|
## 12. DEBTORS
||**Charitable**
**Company**
**£000**|**Charitable**
**Trust**
**£000**|**Aggregated**
**2024**
**£000**|**Aggregated**
**2023**
**£000**|
|---|---|---|---|---|
|Prepayments and accrued income|488|-|488|432|
|Other debtors|104|-|104|147|
|Trade debtors|10|-|10|-|
||**602**|**-**|**602**|**579**|
Other debtors and prepayments include £Nil (2023: £Nil) falling due after more than one year.
## 13. CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR
||**Charitable**
**Company**
**£000**|**Charitable**
**Trust**
**£000**|**Aggregated**
**2024**
**£000**|**Aggregated**
**2023**
**£000**|
|---|---|---|---|---|
|Trade creditors|40|-|40|31|
|Taxation and social security|30|-|30|26|
|Other creditors|329|-|329|181|
|Accruals and deferred income|20|-|30|16|
||**419**|**-**|**419**|**254**|
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).
65 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
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## 14. RESTRICTED FUNDS
**----- Start of picture text -----**
Income Transfers
Opening Other Other Grants Contribution Other Closing
Fund name Donations Gift Aid from to/from
balance income transfers payable to NCF costs balance
endowment endowment
**----- End of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|A Better Childhood (formallyVulnerable Families)|71,082|1,285|166|0|15,976|(34,851)|(155)|0|0|0|53,503|
|Adult Trust CommunityFirst Revenue Fund|40,589|0|0|0|0|(210)|0|0|8,726|(2,955)|46,150|
|Adult Trust CommunityServices Revenue Fund (B&C)|53,951|0|0|0|0|(1,350)|0|0|0|0|52,601|
|Anne Sloman Revenue Fund|6|0|0|0|0|0|0|0|0|1,000|1,006|
|Annie Bell Revenue Fund|49|0|0|0|0|0|0|0|0|(48)|1|
|Apollo Fund|0|299,334|0|0|0|(271,301)|(28,033)|0|0|0|0|
|Beech Revenue Fund (B&C)|1,995|2,000|500|0|0|0|(250)|0|0|(405)|3,840|
|Ben Burgess Revenue Fund|18,329|0|0|0|0|0|0|0|2,266|(767)|19,828|
|Benny's Battalion Fund|2,075|12,909|374|0|(1,000)|(6,600)|(1,328)|0|0|0|6,429|
|Bernard Matthews Revenue Fund|11,925|0|0|0|0|0|0|0|0|(1,579)|10,346|
|Bill Moore Revenue Fund|1,703|0|0|0|0|0|0|0|0|1,606|3,309|
|Birketts Revenue Fund|4,860|26,558|5,000|0|0|(27,358)|(3,156)|0|5,058|(1,713)|9,249|
|Bishopof Norwich CommunityFund|33|6,676|0|0|0|(6,069)|(640)|0|0|0|(0)|
|Bolton Trust Revenue Fund|2,527|0|0|0|0|(5,569)|0|0|6,155|(2,084)|1,029|
|Breckland DC CommunityMatch FundingFund|1,870|100,000|0|0|0|(47,533)|(10,000)|0|0|0|44,337|
|Brief CommunityFund|11,500|16,000|4,000|0|0|(29,900)|(1,600)|0|0|0|0|
|Broadland Meridian Mental Health & WellbeingFund|1|25,000|0|0|0|(22,500)|(2,500)|0|0|0|1|
|C B Jewson Revenue Fund|873|0|0|0|0|(3,000)|0|0|0|2,370|243|
|Cedar Trust Revenue Fund|3,030|11,000|0|0|0|(37,179)|(1,000)|0|2,859|21,928|638|
|Chiplow Wind Farm Fund|0|20,000|0|0|0|(18,000)|(2,000)|0|0|0|0|
|Clan Trust|3,660|0|0|0|0|0|0|0|0|0|3,660|
|CommunityRenewal Fund|503|0|0|0|(503)|0|0|0|0|0|0|
|CommunityResearch Fund|0|27,509|0|0|0|(1,200)|0|(2,100)|0|0|24,209|
|ConnectingOlder People|52|0|0|0|0|5,000|0|0|0|0|5,052|
|Corton House|13,080|0|0|0|0|0|0|0|0|0|13,080|
|Covid 19 CommunityResponse Fund|(10)|0|0|0|10|0|0|0|0|0|(0)|
|Cullingford-Youngs Revenue Fund|15|0|0|0|0|(500)|0|0|0|486|1|
|D'Attanasio FamilyRevenue Fund|2,566|0|0|0|0|0|0|0|794|4,976|8,336|
|DCMS Know Your Neighbourhood|702|649,964|0|0|0|(571,513)|(40,275)|(2,475)|0|0|36,403|
|Delaval & Veronica Hastings Revenue Fund|7,917|0|0|0|0|0|0|0|0|4,575|12,492|
|DevelopingCommunities Fund|172,693|172,701|825|0|6,584|(9,397)|0|(54,787)|0|0|243,620|
|Diocese of Norwich Revenue Fund|108,302|0|0|0|0|0|0|0|16,544|(4,202)|120,644|
|Dudgeon CommunityFund|65,640|142,888|0|0|0|(140,984)|(12,990)|0|0|0|54,554|
|Duncan Baker Fund|11|26,477|3,445|0|5,200|(32,130)|(3,002)|0|0|0|1|
|Earle & Stuart CT BursaryFund|0|21,000|0|0|0|(20,000)|(1,000)|0|0|0|0|
|East Coast CommunityHealthcare Employee Support Fund|9,257|20,000|0|0|0|(26,039)|(2,000)|0|0|0|1,219|
|East of England Co-opCommunityCare Fund|0|71,320|0|0|0|(66,920)|(4,400)|0|0|0|0|
|Eliel FamilyRevenue Fund|1,328|0|0|0|(1,000)|(1,000)|0|0|3,053|(1,034)|1,347|
|Ellis FamilyFund|45,000|50,000|0|0|0|(90,000)|(5,000)|0|0|0|0|
|ElsingHall Charitable Trust Fund|10,148|0|0|0|0|(500)|0|0|0|0|9,648|
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**----- Start of picture text -----**
Income Transfers
Opening Other Other Grants Contribution Other Closing
Fund name Donations Gift Aid from to/from
balance income transfers payable to NCF costs balance
endowment endowment
**----- End of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|EwingRevenue Fund|823|0|0|0|0|0|0|0|0|3,288|4,111|
|Falgate Revenue Fund|21,441|0|0|0|0|(10,000)|0|0|16,188|882|28,512|
|Farnborough Revenue Fund|992|0|0|0|0|0|0|0|1,247|(437)|1,802|
|Florence Clarke Revenue Fund|4,530|0|0|0|(4,000)|(500)|0|0|0|4,519|4,549|
|Anonymous|31,306|50,000|12,500|0|0|(78,939)|(5,000)|0|19,377|(5,325)|23,919|
|Foulger CharityRevenue Fund|3,712|0|0|0|0|0|0|0|0|(156)|3,556|
|Fountain Revenue Fund|16,505|0|0|0|0|0|0|0|0|0|16,505|
|Four Seasons Fund|43,604|2,000|500|0|0|0|(250)|0|0|0|45,854|
|Freebridge CommunityHousingRevenue Fund|69,983|10,000|0|0|0|(40,000)|(1,000)|0|15,327|17,407|71,717|
|Friends of Norolk (formallyNorolk Future Fund)|18,164|17,510|2,580|0|(20,000)|0|0|0|0|0|18,254|
|Fuller Revenue Fund|134,951|0|0|0|0|(33,690)|0|0|44,470|(12,047)|133,684|
|Goodman Trust Revenue Fund|10,296|0|0|0|0|(10,000)|626|0|10,504|(3,917)|7,509|
|Great Yarmouth And WaveneyMaternityCare Fund|6,398|0|0|0|0|0|0|0|0|0|6,398|
|Great Yarmouth CommunityInvestment Fund|45,000|0|0|0|29,383|(74,383)|0|0|0|0|0|
|GreeningOur Communities Fund|1|50,024|0|0|150|(45,150)|(5,002)|0|0|0|23|
|Hambro Revenue Fund|3,244|0|0|0|0|0|0|0|0|1,302|4,546|
|Handelsbanken Mental Health & Wellbeing|9|32,974|88|0|0|0|(3,306)|0|0|0|29,764|
|HealthyYoungMinds|0|0|0|0|0|8,000|0|0|0|0|8,000|
|High Sherif Revenue Fund|9,837|1,895|0|0|0|0|(190)|0|1,206|1,158|13,907|
|Higham FamilyRevenue Fund|175,860|0|0|0|0|(15,000)|0|0|27,390|34,815|223,065|
|Holton Wind Farm CommunityFund|9,000|10,000|0|0|0|(12,500)|(1,000)|0|0|0|5,500|
|Hopestead Fund|740|1,560|0|0|1|(2,223)|(78)|0|0|0|0|
|HorningCommunityFund|128,081|0|0|0|(78,071)|0|0|(11)|0|(50,000)|(1)|
|Household Support Fund|134,150|2,044,598|0|0|(1)|(2,031,247)|(147,500)|0|0|0|0|
|Inspiration Trust 'Music Matters' Fund|153|29|8|0|0|0|(4)|0|0|0|186|
|InspiringOpportunities Fund for children in care/care leavers|13,159|27,500|0|0|10,000|(37,000)|(2,500)|0|0|0|11,159|
|J P Blanch Revenue Fund|44,313|0|0|0|0|(40,010)|0|0|35,937|41,893|82,133|
|Jacks Lane Wind Farm CommunityFund|17,755|42,589|0|0|0|(46,671)|(3,591)|0|0|0|10,083|
|Jefries Revenue|329|0|0|0|0|0|0|0|0|567|896|
|Josiah Vavasseur & YMCA Revenue Fund|1|0|0|0|0|0|0|0|0|1,087|1,088|
|Kennard FamilyRevenue Fund|7,944|541|138|0|(1,000)|(8,900)|(68)|0|2,816|(974)|497|
|Kier Revenue Fund|14,044|0|0|0|(5,000)|(8,000)|0|0|2,903|(983)|2,964|
|Kiln Clifs Nuture Fund|9,000|7,378|0|0|0|(6,378)|(738)|0|0|0|9,262|
|Kings Lynn & West Norolk Capital FAS|53,006|0|0|0|0|(33,743)|0|0|0|0|19,263|
|Kings Lynn & West Norolk Revenue FAS|15,000|9,877|0|0|0|(24,877)|0|0|0|0|0|
|Kings Lynn & West Norolk Themed Revenue|1,917|0|0|0|0|0|0|0|0|0|1,917|
|KL & WN Defibrillator Fund|33,000|(33,000)|0|0|0|0|0|0|0|0|0|
|Lane FamilyRevenue Fund|6,299|20,000|0|0|(15,000)|0|(5,000)|0|3,807|(1,289)|8,817|
|Laura Elizabeth Stuart|0|1,051|0|0|0|0|(105)|0|0|0|946|
|LiteracyFund|9,000|50|0|0|(9,045)|0|(5)|0|0|0|0|
|Little Acorns CommunityFund|12,154|30,000|7,500|0|0|(25,956)|(2,625)|0|0|0|21,073|
|Longforth Revenue Fund|3,129|0|0|0|0|0|0|0|1,629|(552)|4,206|
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69 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
**----- Start of picture text -----**
Income Transfers
Opening Other Other Grants Contribution Other Closing
Fund name Donations Gift Aid from to/from
balance income transfers payable to NCF costs balance
endowment endowment
Love Norfolk Microgrants 0 0 0 0 20,000 (480) 0 0 0 0 19,520
**----- End of picture text -----**
|Love Norolk Microgrants|0|0|0|0|20,000|(480)|0|0|0|0|19,520|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Love Norolk Revenue Fund|1,073|53,362|5,447|0|43,352|(124,892)|(8,433)|(40)|35,828|37,684|43,381|
|Lovewell Blake|4,680|1,255|0|0|0|(1,458)|(126)|0|0|0|4,352|
|Luke DayAdventure Fund|446|0|0|0|0|(424)|0|0|0|0|22|
|Anonymous|22|0|0|0|(22)|0|0|0|0|0|0|
|Mike Lindsell CommunityFirst Revenue Fund|964|0|0|0|0|(965)|0|0|1,530|7,830|9,359|
|Millennium Trust For YoungCarers|13,186|0|0|0|0|(13,149)|0|0|0|0|37|
|Mills & Reeve CT Revenue|1,853|0|0|0|0|0|0|0|0|1,075|2,928|
|Momentum Youth Grants|0|15,000|0|0|0|(10,159)|(1,500)|0|0|0|3,341|
|Morris/Fischer Revenue Fund|2,884|0|0|0|0|0|0|0|984|(333)|3,535|
|Musker Mcintyre Communities Fund|6,660|0|0|0|0|0|0|0|0|0|6,660|
|NCC EmpoweringCommunities Fund|58,476|0|0|0|0|0|0|0|0|0|58,476|
|Nelsonspirit CommunityLeaders Fund|943|48|12|0|0|0|(6)|0|0|0|996|
|nelsonspirit future leaders revenue fund|7,921|964|165|0|0|(2,430)|(113)|0|452|(153)|6,806|
|New Life Fund|16,227|24,000|5,000|0|0|(10,742)|(2,900)|(450)|0|0|31,135|
|Norolk 100|287|70,922|0|0|(47,400)|0|0|0|0|(23,700)|109|
|Norolk and WaveneyCommunityVoices|59,290|126,952|0|0|(45,450)|(92,790)|(16,186)|(1,000)|0|0|30,816|
|Norolk and WaveneyREND Fund|34,108|1,500|0|0|(8,838)|(4,125)|(1,500)|(2,907)|0|0|18,238|
|Norolk Armed Forces Covenant Fund|0|11,000|0|0|0|0|(1,000)|0|0|0|10,000|
|Norolk Children & YoungPeople Revenue|1|0|0|0|0|0|0|0|0|3,482|3,483|
|Norolk Millennium Trust for Carers|67,690|450|0|0|5,000|(67,754)|(20)|0|0|42,927|48,293|
|Norolk Ofshore Wind Zone Fund|0|5,000|0|0|0|0|(5,000)|0|0|0|0|
|Norolk PACT Revenue (B&C)|0|0|0|0|0|0|0|0|0|1,406|1,406|
|Norolk Womens Revenue Fund|3,792|50|13|0|0|0|(13)|0|625|(212)|4,255|
|Norolk Youth Music Trust Revenue|171|0|0|0|750|(2,000)|0|0|1,202|4,668|4,791|
|Norman Lamb Mental Health & WellbeingRevenue Fund|122,069|114,359|903|0|40,881|(74,952)|(11,538)|(16,196)|6,277|(21,569)|160,233|
|North Pickenham Wind Farm CommunityFund|0|10,000|0|0|0|(9,000)|(1,000)|0|0|0|0|
|Norwich Lads Club & YMCA Revenue Fund|0|0|0|0|0|0|0|0|0|4,551|4,551|
|Norwich 4 New Enterprise|24,967|0|0|0|0|0|0|0|0|0|24,967|
|NourishingNorolk - Set Up|354,280|240,672|2,086|0|(339,301)|(154,026)|(25,779)|(7,275)|0|0|70,657|
|NourishingNorolk - Sustainability|35,816|153,050|1,606|0|285,427|(189,000)|(10,461)|(3,840)|0|0|272,599|
|NourishingNorolk AddiitionalityProject|48,664|54,000|0|0|0|(39,255)|(3,900)|0|0|0|59,510|
|NourishingNorolk Civic Charity|4,098|19,796|165|0|(23,498)|0|(561)|0|0|0|0|
|NourishingNorolk Distribution Hub|39,056|8,102|366|280,109|12,500|0|(879)|(264,515)|0|0|74,738|
|NourishingNorolk Superhero|0|0|0|0|0|0|0|0|0|0|0|
|P & W Bassham CT CommunityFirst Revenue Fund|88,303|0|0|0|(10,200)|(48,991)|0|0|38,250|(6,476)|60,886|
|Palms Mental Health Revenue Fund|3,406|0|0|0|0|(4,839)|0|0|637|890|95|
|Paul Morgan Revenue Fund|2,877|0|0|0|(750)|(2,500)|0|0|3,021|3,440|6,088|
|Pearson FamilyRevenue Fund|1,538|0|0|0|0|(1,000)|0|0|1,431|(484)|1,485|
|Public Health - EmpoweringCommunities for Mental Health & WB|41,545|153,800|0|0|(41,526)|(123,737)|(15,380)|0|0|0|14,702|
|R C SnellingRevenue Fund|8,824|0|0|0|0|(50,000)|0|0|16,367|43,781|18,972|
|R G Carter Revenue Fund|4,301|0|0|0|0|0|0|0|0|841|5,142|
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71 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
**----- Start of picture text -----**
Income Transfers
Opening Other Other Grants Contribution Other Closing
Fund name Donations Gift Aid from to/from
balance income transfers payable to NCF costs balance
endowment endowment
**----- End of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|R M Madders Revenue Fund|1,840|150|38|0|0|0|(19)|0|0|6,631|8,640|
|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|20,514|30,000|0|0|(30,000)|(18,000)|0|0|0|19,903|22,417|
|Red House Trust Revenue Fund|5,289|0|0|0|0|(65,000)|0|0|16,636|43,250|175|
|Richard Cole Revenue Fund|577|0|0|0|0|(900)|0|0|771|(144)|304|
|Richard Nash GroupRevenue|0|0|0|0|0|0|0|0|0|394|394|
|Rose BerneyMemorial Fund|18,460|57,291|4,862|0|0|0|(10,140)|(15,503)|0|0|54,971|
|Sail4Recovery|17,694|0|0|0|0|(15,096)|0|0|0|0|2,598|
|Saracens Norolk Fund|22,276|85,600|0|0|0|(81,504)|(5,600)|0|0|0|20,772|
|Scout Association Revenue Fund|53,241|0|0|0|0|0|0|0|0|(1,765)|51,476|
|Shadwell CommunityFund|0|2,750|0|0|(2,000)|(500)|(250)|0|0|0|0|
|Shakespeare's Guildhall Trust Fund|9,398|900|0|0|0|(10,208)|(90)|0|0|0|0|
|Sheila Ann DayFund|40,862|0|0|0|0|(40,862)|0|0|0|0|0|
|ShelroyTrust Revenue Fund|59,393|0|0|0|0|(125,716)|0|0|98,186|(17,284)|14,579|
|Sheringham Shoal Revenue Fund|646|100,000|0|0|0|(89,500)|(10,000)|0|0|3,302|4,448|
|Silk Purse Revenue Fund|343|0|0|0|(6,000)|0|0|0|10,800|(3,657)|1,486|
|Sir Martin LaingFund|0|40,000|0|0|0|0|(4,000)|0|0|0|36,000|
|Sophie's Sparkle Fund|15,715|80,234|289|0|1,000|(38,086)|(8,087)|0|0|0|51,065|
|Street Aid|16,037|10,006|723|0|0|(2,760)|(1,105)|0|0|0|22,902|
|SupportingPositive Activities and CommunityEngagement (SPACE)|40,853|66,400|0|0|(5,976)|(94,637)|(6,640)|0|0|0|0|
|SurvivingWinter Appeal|63,017|87,246|1,769|0|12,500|(140,733)|(8,800)|0|0|0|14,999|
|TargetFollow Foundation Revenue Fund|4,268|0|0|0|0|(4,268)|0|0|0|0|1|
|The BigOardeal|28,239|4,170|1,025|0|0|(32,695)|(519)|0|0|0|219|
|The Brighter Future Fund|2,000|0|0|0|0|0|0|0|0|0|2,000|
|The NCF BursaryFund|0|1,100|0|0|0|(1,000)|(100)|0|0|0|0|
|The Norolk Heart Trust|384,331|91,561|1,029|4,072|0|(564,935)|(2,636)|11,076|0|309,936|234,434|
|The Norolk Sports AcademyFund|0|5,000|0|0|0|0|(125)|0|0|0|4,875|
|Thelveton Revenue Fund|4,196|100|25|0|0|0|(13)|0|2,609|(884)|6,034|
|Theodore Agnew Revenue|27,723|0|0|0|0|(165,000)|0|0|19,381|134,608|16,712|
|Thetord Shines Brighter|17,654|0|0|0|0|(4,934)|0|0|0|0|12,720|
|Tim & Hazel Barrett Revenue Fund|5,723|2,500|0|0|0|(1,970)|(250)|0|0|694|6,697|
|Together for Women and Girls Revenue Fund|1,913|2,345|425|0|0|0|(277)|0|0|0|4,406|
|Together to Thrive Fund|23,400|6,000|0|0|0|(6,000)|(600)|0|0|0|22,800|
|Turnpike Farm Revenue Fund|2,134|0|0|0|(23,338)|0|0|0|380|20,825|0|
|Two Year Old Capital Fund|97,620|0|0|0|0|0|0|0|0|0|97,620|
|UKRI|2,410|9,801|0|0|(11,388)|0|0|(823)|0|0|0|
|VictoryHomes CommunityFund|22,441|39,999|0|0|0|0|(3,636)|0|4,147|6,353|69,304|
|Walking4 Norolk|440|0|0|0|0|0|0|0|0|0|440|
|Warminger WellbeingFund|35,083|0|0|0|0|0|0|0|0|0|35,083|
|Warren Services Employee Support Fund|22,200|0|0|0|0|(5,700)|0|0|0|0|16,500|
|Welcome to Norolk|56,543|98|25|0|45,450|(98,386)|(12)|0|1,018|0|4,736|
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73 T R U S T E E S ’ A N N U A L R E P O R T & F I N A N C I A L S TAT E M E N T S **2 0 2 4**
**----- Start of picture text -----**
Income Transfers
Opening Other Other Grants Contribution Other Closing
Fund name Donations Gift Aid from to/from
balance income transfers payable to NCF costs balance
endowment endowment
**----- End of picture text -----**
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|WellbeingSupport for New Fathers|0|148,145|0|0|0|(133,331)|(14,814)|0|0|0|0|
|Wellingham Relief in Need Revenue Fund|59,084|6,774|0|219|0|0|(699)|(2,595)|4,512|(1,528)|65,767|
|West Norolk Employment Fund (Colson Rev CF)|25,791|30|8|0|(150)|(26,173)|(4)|0|12,033|(4,075)|7,460|
|West Norolk Lives Revenue Fund|20,612|68,652|0|0|0|(842,121)|0|0|0|752,858|1|
|West Norolk Rural CommunityCapital|0|265,334|0|0|0|(242,834)|(22,500)|0|0|0|0|
|Weston Wind Farm CommunityFund|6,283|10,000|0|0|0|(15,283)|(1,000)|0|0|0|0|
|YoungFoundation ParticipatoryPolicyFund|0|25,000|0|0|0|0|(2,500)|(1,933)|0|0|20,567|
|YoungNorolk Sports Fund|2,250|0|0|0|0|0|0|0|0|0|2,250|
|**Grand Total**|**4,054,056**|**6,340,664**|**63,602**|**284,400**|**(194,292)**|**(7,940,567)**|**(507,375)**|**(365,374)**|**505,333**|**1,422,458**|**3,660,905**|
## 15. ENDOWMENT FUNDS
**----- Start of picture text -----**
Fund name Opening balance Investment income Donations Gift Aid Transfers Movement on investments Management fees Grand total
**----- End of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|Adult Trust CommunityFirst Endowment Fund|295,483|0|0|0|0|6,675|0|302,158|
|Anne Sloman Endowment Fund|28,283|893|0|0|(1,283)|1,141|(85)|28,949|
|Annie Bell Endowment Fund|40,710|1,216|505|126|(359)|1,527|(114)|43,611|
|Beech Endowment Fund (B&C)|40,520|1,235|0|0|0|1,270|0|43,025|
|Ben Burgess CommunityFirst Endowment Fund|38,137|0|0|0|0|862|0|38,999|
|Ben Burgess Endowment Fund|38,581|0|0|0|0|872|0|39,453|
|Bernard Matthews Grassroots Endowment Fund|157,861|5,113|0|0|0|6,417|(481)|168,910|
|Bill Moore Grassroots Endowment Fund|64,224|2,039|0|0|(2,248)|2,596|(194)|66,417|
|Birketts CommunityFirst Endowment Fund|77,997|0|0|0|0|1,762|0|79,759|
|Birketts Grassroots Endowment Fund|93,284|0|0|0|0|2,107|0|95,391|
|Bolton Trust CommunityFirst Endowment Fund|208,414|0|0|0|0|4,708|0|213,122|
|C B Jewson Grassroots Endowment Fund|63,036|1,987|0|0|(3,000)|2,555|(189)|64,388|
|Cedar Trust CommunityFirst Endowment Fund|27,839|0|0|0|0|629|0|28,468|
|Cedar Trust Grassroots Endowment|79,382|0|0|0|(23,000)|2,025|0|58,407|
|Copeman FamilyEndowment Fund|0|0|151,782|0|0|(1,388)|0|150,394|
|Cullingford-Youngs FamilyEndowment Fund|22,539|673|360|90|(711)|846|(63)|23,734|
|D'Attanasio FamilyCommunityFirst Endowment Fund|30,804|0|0|0|(5,284)|606|0|26,126|
|Delaval & Veronica Hastings Endowment Fund|182,991|5,809|0|0|(6,405)|7,397|(552)|189,240|
|Diocese of Norwich CommunityFirst Endowment Fund|513,586|0|0|0|0|11,602|0|525,188|
|Diocese of Norwich Endowment Fund|46,658|0|0|0|0|1,054|0|47,712|
|Eliel FamilyCommunityFirst Endowment Fund|103,381|0|0|0|0|2,335|0|105,716|
|EwingEndowment Fund|131,525|3,971|0|0|(4,603)|4,259|0|135,152|
|Falgate CommunityFirst Endowment Fund|551,907|0|0|0|(5,021)|12,383|0|559,268|
|Farnborough CommunityFirst Endowment Fund|34,744|0|0|0|0|785|0|35,529|
|Farnborough Endowment Fund|8,999|0|600|150|0|169|0|9,918|
|Florence Clarke Grassroots Endowment Fund|180,769|5,739|0|0|(6,327)|7,307|(546)|186,942|
|Anonymous|321,763|0|0|0|(1,250)|7,240|0|327,753|
|Anonymous|335,651|0|0|0|0|7,582|0|343,233|
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**----- Start of picture text -----**
Fund name Opening balance Investment income Donations Gift Aid Transfers Movement on investments Management fees Grand total
**----- End of picture text -----**
|Foulger CharityEndowment Fund|15,642|507|0|0|0|636|(48)|16,737|
|---|---|---|---|---|---|---|---|---|
|Freebridge CommunityFirst Endowment Fund|427,274|0|0|0|(22,766)|9,267|0|413,775|
|~~Freebridge Community Housing Grassroots Endowment~~
Fund|108,610|0|0|0|0|2,453|0|111,063|
|Fuller CommunityFirst Endowment Fund|1,130,441|0|0|0|(46,870)|24,743|0|1,108,314|
|Fuller Endowment|375,432|0|0|0|46,870|9,315|0|431,617|
|Goodman Trust Endowment Fund|130,827|486|0|0|(3,044)|903|(46)|129,127|
|Hambro Grassroots Endowment Fund|52,043|1,652|0|0|(1,822)|2,104|(157)|53,820|
|High Sherif CommunityFirst Endowment Fund|42,007|0|0|0|(1,578)|922|0|41,351|
|Higham FamilyCommunityFirst Endowment Fund|956,818|0|0|0|(39,599)|20,944|0|938,163|
|J P Blanch CommunityFirst Endowment Fund|812,075|0|0|0|(54,466)|17,422|0|775,032|
|J P Blanch Grassroots Endowment Fund|445,190|0|0|0|0|10,057|0|455,247|
|Jefries Grassroots Endowment Fund|22,699|721|0|0|(794)|927|(69)|23,484|
|Josiah Vavasseur & YMCA Grassroots Endowment Fund|39,542|1,255|0|0|(1,384)|1,598|(119)|40,892|
|Kennard FamilyCommunityFirst Endowment Fund|97,388|0|0|0|0|2,154|0|99,542|
|Kier Grassroots Endowment Fund|98,316|0|0|0|0|2,221|0|100,537|
|Lane FamilyCommunityFirst Endowment Fund|128,925|0|0|0|0|2,912|0|131,837|
|Laura Elizabeth Stuart Memorial Endowment Fund|0|0|224,721|0|0|476|0|225,197|
|Longforth Endowment Fund|55,159|0|0|0|0|1,246|0|56,405|
|Love Norolk Community First Endowment Fund|220,345|0|0|0|17,914|4,850|0|243,109|
|Love Norolk Endowment Fund|1,276,254|3,869|0|0|5,322|16,785|(147)|1,302,082|
|Mike Lindsell CommunityFirst Endowment Fund|57,845|0|0|0|(8,148)|1,169|0|50,866|
|Mills & Reeve Grassroots Endowment Fund|42,992|1,365|0|0|(1,505)|1,738|(130)|44,460|
|Morris/Fischer CommunityFirst Endowment Fund|33,333|0|0|0|0|753|0|34,086|
|nelsonspirit future leaders CommunityFirst Endowment Fund|15,318|0|0|0|0|346|0|15,664|
|Norolk PACT Endowment|56,265|1,716|0|0|(1,969)|1,763|0|57,775|
|Norolk Womens Endowment Fund|21,164|0|0|0|0|478|0|21,642|
|Norolk Youth Music Trust Endowment (CCLA)|44,326|0|0|0|(5,000)|1,030|0|40,356|
|Norman Lamb Endowment|156,910|0|0|0|20,000|3,453|0|180,363|
|Norwich Lads Club & YMCA Grassroots Endowment|165,488|5,254|0|0|(5,792)|6,689|(499)|171,140|
|P & W Bassham CT CommunityFirst Endowment Fund|1,295,264|0|0|0|0|29,260|0|1,324,524|
|Palms Mental Health CommunityFirst Endowment Fund|22,409|0|0|0|(1,114)|487|0|21,782|
|Paul Morgan CommunityFirst Endowment Fund|105,612|0|0|0|(4,496)|2,310|0|103,425|
|Pearson FamilyCommunityFirst Endowment Fund|48,371|0|0|0|0|1,095|0|49,466|
|R C SnellingCommunityFirst Endowment Fund|554,249|0|0|0|0|12,521|0|566,770|
|R C SnellingGrassroots Endowment Fund|274,968|5,412|0|0|(50,000)|(726)|0|229,654|
|R G Carter Grassroots Endowment|30,574|971|0|0|(1,070)|1,236|(92)|31,618|
|R M Madders Endowment Fund|209,240|6,956|32,000|8,000|(8,723)|7,155|0|254,628|
|Ranworth Trust Grassroots Endowment Fund|723,739|16,851|0|0|(25,331)|1,264|0|716,523|
|Red House CommunityFirst Endowment Fund|563,349|0|0|0|0|12,726|0|576,075|
|Red House Youth Project Endowment Fund|111,680|2,962|0|0|(50,000)|2,004|0|66,646|
|Richard Cole CommunityFirst Endowment|26,108|0|0|0|0|590|0|26,698|
|Richard Nash GroupEndowment|10,626|335|0|0|(500)|429|(35)|10,854|
|Scout Association Endowment Fund|352,924|7,497|0|0|0|(2,794)|0|357,627|
|ShelroyTrust CommunityFirst Endowment Fund|2,887,525|0|0|0|0|65,229|0|2,952,754|
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|ShelroyTrust End (B&C)|897,709|21,205|0|0|0|8,640|0|927,554|
|---|---|---|---|---|---|---|---|---|
|ShelroyTrust Endowment Fund (CCLA)|443,234|0|0|0|(25,000)|10,387|0|428,621|
|Sheringham Shoal Grassroots Endowment Fund|132,096|4,194|0|0|(4,623)|5,340|(399)|136,607|
|Silk Purse CommunityFirst Endowment Fund|365,704|0|0|0|0|8,261|0|373,965|
|The Norfolk Heart Trust Endowment Fund|369,675|1,764|60,000|0|(313,633)|2,195|0|120,001|
|Thelveton (non CF) CCLA Endowment|22,852|0|0|0|0|516|0|23,368|
|Thelveton CommunityFirst Endowment Fund|65,530|0|0|0|0|1,480|0|67,010|
|Theodore Agnew CommunityFirst Endowment Fund|711,692|0|0|0|(74,838)|14,810|0|651,663|
|Theodore Agnew Endowment|311,258|5,421|0|0|(70,000)|1,464|0|248,143|
|Tim & Hazel Barrett Endowment Fund|27,762|881|0|0|(972)|1,122|(84)|28,710|
|Turnpike Farm CommunityFirst Endowment Fund|17,611|0|0|0|(18,161)|549|0|0|
|Turnpike Farm Endowment Fund|18,903|612|0|0|(20,180)|721|(56)|0|
|VictoryHousingCommunityFirst Endowment|146,222|0|0|0|(7,815)|3,171|0|141,577|
|Wellingham Relief in Need Endowment|152,797|0|0|0|0|3,452|0|156,249|
|West Norfolk Employment Fund (Colson End Community First)|407,484|0|0|0|0|9,205|0|416,689|
|West Norfolk Lives Endowment Fund|727,422|9,633|0|0|(760,132)|24,153|(1,076)|0|
|**Grand Total**|**22,782,285**|**130,194**|**469,968**|**8,366**|**(1,600,711)**|**474,927**|**(5,182)**|**22,259,847**|
|Goodman Permanent Endowment Fund
Norfolk Children & Young People Endowment
Norfolk Millennium Trust for Carers Endowment|624,587
116,045
1,717,044|0
3,431
48,172|74,723
0
0|0
0
0|715
(4,062)
(60,097)|44,279
3,435
238|0
0
0|744,304
118,849
1,705,356|
|**Total**|**2,457,676**|**51,602**|**74,723**|**0**|**(63,444)**|**47,952**|**0**|**2,568,509**|
||||||||||
|**Total Endowment Funds**|**25,239,961**|**181,796**|**544,692**|**8,366**|**(1,664,155)**|**522,879**|**(5,182)**|**24,828,356**|
79
80
## 16. ANALYSIS NET ASSETS BETWEEN FUNDS – CURRENT YEAR
|**Aggregated**|**Unrestricted**
**funds**
**£000**|**Restricted**
**funds**
**£000**|**Endowment**
**funds**
**£000**|**Total**
**funds**
**£000**|
|---|---|---|---|---|
|Tangible fixed assets|51|6|-|57|
|Investments|-|604|24,748|25,352|
|Bank balances|586|3,050|81|3,717|
|Other net current assets/(liabilities)|216|-|-|216|
||**853**|**3,660**|**24,829**|**29,342**|
||||||
|**Charitable Company**|||||
|Tangible fixed assets|51|6|-|57|
|Investments|-|604|22,260|22,783|
|Bank balances|586|3,050|81|3,717|
|Other net current assets/(liabilities)|216|-|-|216|
||**853**|**3,660**|**22,341**|**26,773**|
||||||
|**Charitable Trust**|||||
|Investments|-|-|2,569|2,569|
||**-**|**-**|**2,569**|**2,569**|
## 16. ANALYSIS NET ASSETS BETWEEN FUNDS – PRIOR YEAR
|**Aggregated**|**Unrestricted**
**funds**
**£000**|**Restricted**
**funds**
**£000**|**Endowment**
**funds**
**£000**|**Total**
**funds**
**£000**|
|---|---|---|---|---|
|Tangible fixed assets|48|9|-|57|
|Investments|-|-|25,325|25,325|
|Bank balances|705|3,339|223|4,267|
|Other net current assets/(liabilities)|(44)|706|(308)|254|
||**709**|**4,053**|**25,240**|**30,003**|
||||||
|**Charitable Company**|||||
|Tangible fixed assets|48|9|-|57|
|Investments|-|-|23,067|23,067|
|Bank balances|705|3,339|223|4,267|
|Other net current assets/(liabilities)|(44)|706|(508|754|
||**709**|**4,053**|**22,782**|**27,545**|
||||||
|**Charitable Trust**|||||
|Investments|-
-|-
-|2,258
200|2,258
200|
|Other net current assets/(liabilities)|||||
||**-**|**-**|**2,458**|**2,458**|
81
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## 17. MOVEMENT IN FUNDS – CURRENT YEAR
Fund balances at 31 December 2024 are represented by:-
|**Aggregated**|||||||
|---|---|---|---|---|---|---|
|Unrestricted funds|||||||
|General fund|710|490|(1,291)|944|-|853|
|Restricted funds|4,056|7,194|(8,308)|720|-|3,660|
|Endowment funds|25,240|735|(5)|(1,664)|523|24,829|
||**30,003**|**8,419**|**(9,604)**|**-**|**523**|**29,342**|
||||||||
|**Charitable Company**|||||||
|Unrestricted funds|||||||
|General fund|504|240|(1,291)|944|-|853|
|Designated funds|206|-|-|-|-|-|
|Restricted funds|4,056|7,194|(8,308)|720|-|3,660|
|Endowment funds|22,782|609|(5)|(1,602)|475|22,260|
||**27,548**|**8,043**|**(9,604)**|**-**|**475**|**26,773**|
||||||||
|**Charitable Trust**|||||||
|Endowment funds|2,457|126|-|(62)|48|2,569|
||**2,457**|**126**|**-**|**(62)**|**48**|**2,569**|
## 17. MOVEMENT IN FUNDS – PRIOR YEAR
Fund balances at 31 December 2023 are represented by:-
|**Aggregated**|||||||
|---|---|---|---|---|---|---|
|Unrestricted funds|||||||
|General fund|699|117|(1,021)|709|-|504|
|Designated funds|119|-|(96)|183|-|206|
|Restricted funds|3,335|6,238|(5,182)|(337)|-|4,056|
|Endowment funds|23,522|486|(6)|(555)|1,792|25,239|
||**27,675**|**6,841**|**(6,305)**|**-**|**1,792**|**30,003**|
||||||||
|**Charitable Company**|||||||
|Unrestricted funds|||||||
|General fund|699|117|(1,021)|709|-|504|
|Designated funds|119|-|(96)|183|-|206|
|Restricted funds|3,335|6,238|(5,182)|(337)|-|4,056|
|Endowment funds|21,954|182|(6)|(1,053)|1,705|22,782|
||**26,107**|**6,537**|**(6,305)**|**(498)**|**1,705**|**27,546**|
||||||||
|**Charitable Trust**|||||||
|Endowment funds|1,568|304|-|498|87|2,457|
||**1,568**|**304**|**-**|**498**|**87**|**2,457**|
The designated funds relate to a five-year sustainability and continuity project.
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## 18. FINANCIAL INSTRUMENTS
||**2024**
**£000**
**2023**
**£000**|**2024**
**£000**
**2023**
**£000**|
|---|---|---|
|Financial assets at fair value through statement of financial activities:|||
||25,352|25,325|
||**25,352**|**25,325**|
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. POST BALANCE SHEET EVENT
Following the year-end, an existing charity has donated funds totalling £1,790,000 which will be allocated to the expendable endowment. Additionally, the charity has received a significant legacy of £1,000,000 post year-end, which will be treated as unrestricted funding.
## 20. RELATED PARTIES
During the period the charity received legal services with a value of £4,020 (2023: £6,120) from Birketts LLP, a company which E Savory (Company Secretary) is a Director of. An amount of £nil (2023: £nil) was due to Birketts LLP at the year end. During the period the charity also received a donation of £30,458 from Birketts (2023: £20,000).
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## Find out more or get in touch
**Norfolk Community Foundation** First Floor, Carmelite House, 2 St James Court, Norwich, NR3 1SL
01603 623958 norfolkfoundation.com shinebrighter@norfolkfoundation.com
Registered Charity No. 1110817 Company Registration No. 05234236