Charity registration number 1113226
Company reglstratlon number 5670692 {England and Wales)
SUSSEX COMMUNITY FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

SUSSEX COMMUNITY FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Andrew Baird
Julia Carrette
Sally Case
Guy Davison
Corinne Day
Mebrak Ghebreweldi
Christine Gibbons
David Hill
Brian Mills
Martin Roberts
Mark Spofforth OBE- Chair
Palrick Stevens - Treasurer
Nick Munday
Deirdre Prower
David Sampson
(Appointed 11 May 2023)
{Appointed 11 May 2023)
(Appointed 30 November 2023)
(Appointed 30 November 2023)
(Appointed 30 November 2023}
Secretary and Chief Executive
Kevin Richmond
Founder
The 1 Oth Duke of Richmond & Gordon
Joint PTesidents
Andrew Blackman Lord Lieutenant of East Sussex
Lady Emma Barnard Lord Lieutenant ofwest Sussex
Patron
The 11th Duke of Richmond & Gordon
Charity number
1113226
Company number
5670692
Registered office
15 Western Road
Lewes
East Sussex
BN7 1RL
sussexcommunityfoundation.org
info@sussexcommunityfoundation.org
Auditor
Knill James LLP
One Bell Lane
Lewes
East Sussex
BN7 1JU
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
Wesl Malling
Kent
ME19 4JQ

SUSSEX COMMUNITY FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Solicitors
Adams and Remers LLP
Trinity House
School Hill
Lewes
East Sussex
BN7 2NN
Investment advlsors
CCLA Investment Management Ltd
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Sarasin & Partners LLP
Juxon House
100 St Paul's Churchyard
London
EC4M 8BU

SUSSEX COMMUNITY FOUNDATION
CONTENTS
Page
Trustees. report
Slatement of trustees, responsibilities
11
Independent auditor's report
12-14
Statement of financial adivilies
15-16
Summary income and expenditure account
17
Balance sheet
18
Statement of cash flows
19
Notes to the financial statements
20~34

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial slalements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounling policies set out in note 1 to the
financial statements and comply with the charity's Memorandum & Articles of Association, the Companies Act 2006
and 'Accounting and Reportin9 by Charities- Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland
(FRS 102)" (effective 1 January 2019).
CHAIR'S REPORT 2023-24
In my first year as Chair of Trustees l am delighted lo present our Annual Report and Accounts for 2023124.
In reviewing the year, the ongoing cost of living crisis, global economic uncertainties and conflicts have set a
challenging environment for the many charities and community groups we support in the county. Society appears to
be more fragmented than ever and the polarisation of the gap between those coping within this challenging situation
and those less able to do so has increased.
We continue to focus on getting ourselves and our causes better known around Ihe county. but the corollary to this
is that we are receiving more calls on our limited resources. Statutory funding has reduced significantly this year
and there are many more groups seeking granls than ever before.
Nevertheless, thanks to the generosity of our fundholders and donors we have given out over £2.6m grants this
year. This supported 449 organisations across Sussex. For example, Ihis year we started to Wofk in partnership with
the Foreign, Commonwealth & Development Office to support Ihe Chagossian Community in Crawley.
We are two years in to our &year strategy to build a fairer more eqtkal Sussex which focuses on f￿r Funding
Priorities - Tackling Poverty, Reaching Potential, Improving Health, and Acting on Local Climale Change.
Using these priorities as our building blocks, we want to play a leading role in philanihropy across Sussex, aiming to
become the go-to knowledge hub for the issues that affect our communities. We can edL¢cate and infomi our donors
about the local needs and undersland how best to tackle these issues by informing local charities and volunteer
groups. Measuring. and maximising. the impacl of donations resulting from donors, generosity remairE key to our
management objectives.
This year we focussed on Tackling Poverty and analysed data and evidence highlighting the inequality across the
county, producing a report that has been widely circulated and read. This gave us opportunities to reach out and
attract new supporters from the private and public sectors
and position ourselves as a trusted source of
information about local communities. Our focLts remains to engage our fundholdeys in long tem philanthrop￿ giving
and work with them to understand and support their charitable aims.
Thanks to generosity of the Lawson Trust, we launched an appeal rnatching new money wilh a bonus from the
Trust, which helped us attract £1.8m in nèw endowment donations. We are very grateful for that support.
Our "flow-through" donation figure of £1.3m is a significant achievement given the current economic climate.
always demand exceeded our ability to meet it, we were only able to satisfy a third of the demand - we received
applications worth over £7.5m. This record level of applications demonstrates the level of n8ed out in the
community. We ar6 doing all we can to raise more money so that we can support more of the vital work being
arried out by local charities.
I wish to thank the Irustees who have stepped down this year, all of whom provided sterling service over many years
(Keith Hollis, Pamela Stiles and Maggie Burgess) and I welcome our new trustees {Salty Case, Christine Gibbons,
Nick Munday, Deirdre Prower, David Sampson) and hope that they enjoy working with the Foundation as much as I
do.
I cannot close this repori without thanking all the staff team for their commitment and enthusiasm lo the organisation
and its vision during challenging times.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
OBJECTIVES AND ACTIVITIES
The Foundation's Charitable Objects are-.
The promotion of any charitsble purposes for the benefil of the community in the Counlies of East Sussex,
West Sussex and the City of Brighton and Hove (referred to as "Sussex" in this document) and in parbcular
the advan￿Ment of education, the protection of good health both mental and physic81 and the relief of
poverty and sickness.
Other exclusively charitable purposes in the United Kingdom and elsewhere which are, in the opinion of the
trustees, beneficial to the community including those in the area of benefit.
In 2022 The Board of Trustees approved the Foundation's Strategy 2022-27= Towards a fairer and MO￿ equal
Sussex.
OUR VISION:
To see a fairer and more eqLJal Sussex, where people and communities thrive for today and for Ihe future.
OUR MISSION..
To champion and enable all who want to make a posilive contribution lo our local area through effectsve philanthropy
and community action.
WE WILL DO THIS BY-.
Inspiring local people to give to meet local needs
Investing in local ¢haiities and community groups, and helping them to become strong and sustainable
organisations
Informing & Influencing philanthropists and the wider community about local needs, now and in the longer
temi.
ALL OUR WORK IS INFORMED BY OUR VALUES..
We show leadership, acting boldly and positively for Ihe public good.
We champion equity, working in ac￿ssIble and illclusive ways, supporting greater fairness, and standing
against prejudice, discrsmination and disadvantage.
Our approach is empowering, helping others to make the difference that they want to make.
We maintain Ihe highest standards of integrity in all that we do.
We believe that people achieve Ihe mosl when they work together with shared passion and vision.
OUR COMMITMENTS:
Sussex Community Foundation is a broad-based local funder, supporting a wide range of charitable activities and
enabling phi18nthropi5ts to address the causes they care about. In this stralegy we are making seven specific
commitments. We will measure our progress on each and report each year on what we have achieved and what is
left to do.
Our commitments are:
To focus our support clearty and openly on addressing poverty and disadvar7tage.
To help strengthen local commvnities and the voluntary sector
To increase the amounl and the effectiveness of local philanthropy in Sussex
To use data and local knowledge to inform our work
To promote equity. diversily and inclusion
To support local action to address climate change
To be an open and trusting grant fflaker
Our Funding Priorities:
We use nalional and local data to focus our impact on four funding priorities where we believe we can make the
biggest difference. Through our philanthropy advice we help to match our supporters, aims with the many small.
effective charities offering solutions lo local issues. Our Funding Priorities are..
Acting on Climate
Improving Health
Reaching Potential
Tackling Poverty

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENTS AND PERFORMANCE
Attradlng Funds for Immediatè Grant Making
Indicator
Amount Donated to flow-through
Number of active Flow-throu
h funds
Contribution to
rant funds from Community Fifst Endowment
Contribution to grant funds from other endowment
2023124
£1,299,297
42
£355,480
£891.650
2022123
£1,949,222
41
£498,860
£967,413
If funds raised for immediate grant making are greater than the amount distributed in the year then the surplus will
be ringfenced and distributed in future periods.
GRANT MAKING
One of Ihe most challenging roles for the trustees is choosing which of many deservirig causes should be assisted
from limited resources. The Board of Trustees is ultimately responsible for all grants awarded by the Foundation. but
it delegates detailed decision-making to its Grants Committee. The Foundation solicits applications and assesses
those that are eligible for funding. Applications are then matched with the charitable goals of each fund and donor.
Indicator
Value of grants awarded
Number of grants awarded
Average size of grant
Number of grant5 £10,000 or over
Number of groups supported
Number of grants to individuals
Number of grants under £1,000
2023124
£2,639,725
668
£4.255
53
449
34
132 {20°kn)
2022123
£3,274,590
726
£4.524
82
504
29
84 {12%)
135 groups received more than one grant (average number of grants per group was 2.25).
A number of grants were awarded subject to conditions. which have not yel been fulfilled. The totsl value of these
conditional grants was £68,970.
Number of grants by Funding Prlority 2023124
Fvnding priority
Total
grants
awarded
59, %282,43?:
270 £1,W2,629.'
OihiT
Acting on Climate
5mproving Health
Reoching Poteritiol
Tockling Povarty
711,691
'Total
618, £2,43?.725.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Number of grants by Local Authority Area
Loeal Authority
East ou￿eX
20231.24 2022/23
214
es1 Su5se¥.
Brighton & Hove
Olher
191
Tolal
726
IMPACT REPORTING
Making decisions about who should benefit is challenging. However, the Foundation's role does nol stop there. and
the trustees are mindful of the need to understand the impact that each grant has made, and lo follow up contact
with beneficiaries.
The Foundation requires all grant recipients lo return monitoring forms at the end of Iheir projects. These afe used
to monitor outcomes and inform assessment of future applications. The Foundation collates quantitative and
qualitative data from Ihese monitoring returns and uses Ihis dala to produce reports to trusteos, d(￿or$ and
stakeholders on the achievements of the groups that we fund.
The Board of Trustees has maintained oversight of the grants process and is satisfied with this yearfs outcomes.
Heallhy dis¢tJssions at Board meetings ensure that there is no complacency with the Foundation's achievements,
and the Trustees continue lo leam and strive for greater impact with the resources available.
HELPING COMMUNITIES TO RECOVER FROM DISASTERS
Community foundations across the UK have played a key role in managing funds donated to help people affected
by disasters. Community foundations have a unique knowledge of the needs of local communilies and an ability to
make grants quickly and effectively. The Foundation has responded to the Shoreham Air Show crash and the Covid
Pandemic throLsgh the Sussex Crisis Fund and stands ￿adY to respond in future should another disaster slrike our
community.
PUBLIC BENEFIT
The goal of all the Foundation's aclivities is to provide benefit to the public in Sussex, focusi￿ on addressing
disadvantage and deprivation and building strong commLJnities, bul supporting all areas of charitable activity- It
achieves this by awarding grants to local charities and community groups, which provide demonstrable community
benefits. In assessing applications for a grant, the Foundation seeks evidence of genuine public benefit and
requires applicants to have an appropriate Equal Opportunities Statement thal assures that benefits are available to
all within the relevant community. The trustees have had due regard for the guidance published by the Charity
Commission on public benefit.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
GRANTS POLICY
The Foundation has developed a grants policy, which aims to malch the charitable goals of its donors with tha
needs of the community, focusing on addressing disadvantage, promoting thriving communilies. improving quality of
life, and helping people to fulfil their potential.
FUNDRAISING
The Foundation is registered with the Fundraising Regulator and has signed up to the Fundraising Promise and the
Code of Fundraising Practice. It is also Quality Accredited by UK Community Foundations.
The Foundation raises funds by developing long-term relationships with potential supporters. Fundraising activities
are undertaken by paid employees, volunteer Irustees and arnbassadors, all of whom are accountable lo the Chief
Executive and the Board of Trustees. The Foundation does not use any paid extemal fundraising agencies or
consultants.
There have been no failures to comply wilh Fundraising Standards and no complaints regarding the Foundation's
fundraising activities in this financial year.
ENDOWMENT FUND
In order to achieve long-temi benefil for the community, the Foundation is building an Endowment Fund, which will
enable the Foundation to provide public benefit lo the local community across Sussex for generations to come.
ETHICAL INVESTMENT
In February 2020, the trustees took the decision to move all our investments held at Sarasin to their "Climate Active
Fund" which does not invesl in fossil fuels and proactively invests in businesses thal are making a positive
contribution to addressing climate change. On 1 July 2021 the trustees decided to transfer all funds held at CCLA to
Ihe CCLA Charities Ethical Fund. Both Sarasin and CCLA are seen as leaders in the field of ethical investing and
active engagement with companies in which they invest. Details of our investment managers, ethical investmerbt
policies are available on request.
SERVICE TO DONORS
The Foundation's individual character arises from the strategy for attracting funds from donors who wish lo advise
on how their donations are applied. As a result, the Foundation's work provides a comprehensive doncy service to
individuals and companies who care about their local community.. assisting donors to make the maximum posstive
impact on the community.
Named Funds are a core element of this service for donors. A named fund offers the donor the opportunily to
establish a charitable fund in their own name, which can be used lo award grants to match the donor's specific
charitable interests.
There are Iwo lypes of named fund..
Flow-through named fund is distrtbuted within an agreed timescale, normally one year, so as lo maximise
the immediate impact in the ¢ommunity.
Endowment named fund is a capital fund invested to generate investment income and capital growth. which
can be distributed as grants for the benefit of the community for the long term.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT} (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
The financial year from April 2023 to March 2024 was encouraging, with progress made towards our targets
supported by Ihe Lawson Malch Challenge as a demonstrable incentive lo fundholders. Donations to endowment
exceeded budget at £1,828,484 - significantly higher than the previous year12023 - £563.601).
Income for immediate grant making Iflow-through fijnds) was £1,299,297 for the year {£1.949.922 in the previous
year}. This income helped us to make a significant difference within the local Sussex community, however progress
in securing this funding has been impacted by local authorities having reduced funding available to channel Ihrough
our service, as well as a funding gap created posl-pandemic and the Cosl-of-Living crisis response, which both
contributed to peaks in previous years. Relationships with our local aulhorily partners remain strong and we are
working logether to seek solutions for the future.
As at 31 March 2024. the Foundation held £1,405.025 in restricted grant making funds, which are for the sole
putpose of grant making in future periods and cannot be used for Ihe general purposes of the charity. The high
value of funds held is due in part to advance payments form some funds which are due lo be spent over a number
of years. or large balances for individual funds which are held for a limited number of capital projects which have yet
to meet conditions. A proportion of these grant making funds will have been raised during the final quarter of Ihe
financial year and will be rolled over to the first grant round in 2024125.
The charity's investments showed a very favourable capital gain over the year of an average 12°/r*, which resulted in
an increase of £2,580,089 compared with a loss of £942,547 in 2023. The table below compares the investment
performance of our two fund managers in the periods up lo 31 March 2024.
Last 12 months
3 years (average}
+4.0/0
+7.34¥.
5 Years (average)
+6.80/0
+8.95 /0
Sarasin
CCLA Charities ethical fund
+11.1 %
+13.11°/.
RESERVES POLICY
As with all Charities. Sussex Community Foundation must raise the funds required to support its uxe Ope￿tiOn. It is
important to ensure that the organisalion is sustainable and successful in the long term. In order lo ensure that
sustainabilily, the Charity must hold an appropriate level of Reserves.
Our Reserves Policy is thal unrestricted funds, which have not been designated for a specific use. should be
maintained between an upper level of eighl months, and a lower level of three months. of the subsequent year's
budgeted operatirig expenditure.
The trustees consider that this is a measured risk due to the annual drawdown for core costs of 15°/a of the value of
the endowmerTrt fund, currently held at a value of £27m. This position is unlikely to reduce ovef the COLArse of the
next few years.
This contributes a known minimum amount per annum to the core costs, which is a significant positive contribution
that enable5 confidence in the projected financial position.
As at 31 March 2024, unrestricted reserves stood at £343.311, which represents 21 weeks'14.8 months) operating
expenditL&re budget for 2024-25 compared with £502.490 or 28 weeks {6.4 months} in the previous year.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
INVESTMENT POLICY
Investment Objective
To develop expendable endowment funds, which provide sustainable support for local communities in the long-term.
This will require a balance between:
The need for current grant making funds, and
Maintaining an endowment to meet th8 funding needs offuture generations
Power of Investment
The investment powers of the Board of Sussex Community Foundation (the Foundation) are defined in Article Four
of the Memorandum and Articles of Association.
Sussex Community Foundatlon's Investment policy for its Endowment seeks to:
To maxlmise performance through a diversified asset portfolio and a medium risk strategy
To achleve a total Investment return of at least 1 /. per annum after costs above that of the ARC
Charities Steady Growth Index over rolling three-year periods.
To achieve a total investment retum that exceeds the customer prices index, over rolling three-year
periods.
As at January 2024. our inve5tmenl portfolios Isarasin & CCLA) have a target to achieve a combined income and
capital return over the long term of 4.5 % to 5 % above CPI.
The Foundation also holds funds derived from revenue donations for grant making and operalional costs. The
Foundation will seek to obtain Ihe best return al low risk for these short-term holdings.
RISK MANAGEMENT
The major factors which affect the success and sustainability of the charity are..
1. The degree of success in raising funds - for endowment. grant making and operating costs
2. The investment performance of endowment funds
3. The ability of the charity to provide a high quality service to its donors and to the community
4. The reputation of the charity among potential donors, community groups, charities and intermediaries
The trustees have developed a comprehensive risk management policy and system. which allocates responsibility
for managing risk to sub-committees and named individuals and is overseen by the Audit & Risk Committee.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
PLANS FOR FUTURE PERIODS
As we produce this report. we are approaching the middle of the period covered by our current slralegy
12022-2027). Our vision, goals and main activities remain as staled in that strategy and summarised in our last
annual report.
In short, we continue to strive to provide a sustainable source of funding for local community action to help build a
fairer, more equal Sussex. We aim lo raise more fL*nds to provide both immediate granl-making and lo build our
endowment for the long-term benefit of the community. It is also essential that our grant making is accessible and
relevant to the vast range of community groups.
Our Funding Priorities are providing a powerful tool for raising awareness of the challenges faced by Communits'es
across Sussex, demonstrating the difference that local charities make, and attracting donalions from a much wider
section ofthe community than we were able to previously.
As our Chair explained in his introduction lo this report, the economic circumstances have changed significantly
since our slrategy was published. Many charities are finding thal costs are increasing bul it is much harder lo raise
funds. This trend is evident from the very high demand for our grants.
We remain passionate about the incredible value that local chaflties provide for our cornmunities. We also believe
that there are many more local philanthropists who would like to make a difference. In the lighl of the challenges our
society is facing. we will strive ever harder to Connect those people who have funds to donate with the amazing
local charities that are changing peoples, lives every day.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structur6, governance and management
The Board of Truslées, which meets four times per year, governs the charity. There are Cu￿entlY 15 trustees on thè
Board.
Sub-committees have been established to address specific areas of governance and meet as required. These
committees include a Finance & Resources Committee, Grants Committee, Impact Committee, Fund Development
& Marketing Committee, Notninations Committee. and Audit & Risk Committee.
As at June 2024, 14 pemianent staff conduct the day-to4ay business of the charity. led by the Chief Executive who
reports to the Board.
The tnJstee5 are extremely grateful for the valuable contribulion of volunteers and ambassadors, who play a central
role in the success of the charity.
Sussex Community Foundation is a registered charity and a company limited by guarantee. It is governed by its
Memorandum and Articles ofAssociation dated 10th January 2006 as amended on 11 May 2010.
Trustees and officers who served during the year or at the time of publication were..
Andrew Baird
Maggie Burgess
Julia Carrette
Sally Case
Guy Davison
Corinne Day
Mebrak Ghebreweldi
Christine Gibbons
David Hill
Keith Hollis
Brian Mills
Martin Roberts
Mark Spofforth OBE- Chair
Palrick Stevens - Treasurer
Pamela Sliles
Rachel Misra
Nick Munday
Deirdre Prower
David Sampson
(Resigned 30 November 20231
(Appointed 11 May 20231
(Appointed 11 May 2023)
(Resigned 30 November 2023}
(Resigned 30 November 2023}
{Appointed 11 May 2023 and resigned 10 November 20231
(Appointed 30 November 2023)
(Appointed 30 November 2023)
(Appointed 30 November 2023)
Recrultment and appolntment of Trustees
Trustees are appointed by the Board of Trustees for a three•year temi, which can be renewed up to twice.
Recruitment of new trustees is overseen by a Nominations Committee, which makes recommendations to the
Board. Al least every three years, the trustees carry out a detailed review of the skills of members of the Board in
order to identify any gaps. This review was last completed in June 2022.
During 2023, the trustees advertised to seek applications for new trustees. After a very positive response, three new
trustees were appointed to the Board to slart in May 2023 and a further three were appointed to join the Board in
November 2023.
Trustee inductlon and training
The Foundation has adopted procedures for recruitment, induction and training of trustees, which include induction
meetings with the Chair and Chief Executive, a recruilment information pack and appropriate training.

SUSSEX COMMUNITY FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
TTUStee Remuneration and Register of Interests
All trLJStees give their time freely and no Iruslee remuneration was paid in the year. Delails of Iruslee expenses and
relaled party transactions are disclosed in Nole 10 and Note 25 to the accounts. Trustees are required lo disclose
all relevant interests and register them with the Chief Executive and to wilhdraw from decisions where a conlict of
interest arises. At the beginning of every trustee meeting, those present are asked to declare any interests in any
item in the agenda. Truslees may also declare any additional interest as the meeting unfolds.
RELATED CHARITIES
None of the trustees has any beneficial inlerest in the Foundation. All of the trustees are members of Ihe company
and guarantee lo contribule £10 in the event of winding-up.
Sussex Community Foundalion is a quality accredited member of UK Community Foundations (which is itself a
Registered Charity)- Ac¢ieditation is subject lo independent assessment every three years. which the Foundation
has achieved sitTce 2007. The Chief Executive of the Foundation is currently a trustee of UKCF.
Audilor
In accordance with the company's articles, a resolution proposing that Knill James LLP be reappointed as auditor of
the company will be put at a General Meeting.
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the
audit. but of which the audilor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that Ihe auditor is aware of such informalion.
The Injstees, report was approved by the Board of Trustees.
Mark Spofforlh OBE - Chair
Trustee
Dale..
10-

SUSSEX COMMUNITY FOUNDATION
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors of Sussex Community Foundation for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Slandards (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 charity and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP-
make judgements and estimates thal are reasonable and prudent-
state whether applicable UK Accounting Slandards have been followed. subject to any material departures
disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charrty
will continue in operation.
The Irustees are responsible for keeping adequate accounting records Ihat disclose wilh reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006, the Charilies Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are
also responsible for safeguarding Ihe assets of the charity and hence for taking reasonable steps for the p￿ventIOn
and detection of fraud and other irregularities.
11

SUSSEX COMMUNITY FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SUSSEX COMMUNITY FOUNDATION
Opinion
We have audited the financial slalements of Sussex Community Foundation (the 'charity') for the year ended 31
March 2024 which comprise the slalement of financial activities, the summary income and expenditure account, the
balance sheet, the statement of cash flows and the noles to the financial statements, including a summary of
significant accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and Ur)ited 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).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources, including its income and expenditure, for ihe year then
ended:
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿.,
and
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 {UKII and applicable
law. Our responsibilities under those standards are further described in the Auditors responsibilities for (he audit ol
the linancial statements seclbon of our ￿port. We are independent of the charity in accordance with the ethical
requirements that are relevant to our aLAdit of the financial statements in the UK. including the FRC'S Ethical
Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that Ihe audit evidence we have obtained is sufficient and appropriate lo provide a ba515 for our opinion.
Conclusions ￿lating to going concern
In auditing the financial statemenls, we have concluded that the IfUStees' use of the going concem basis of
accounling in Ihe preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not idenb.fied any material uncertainties relating to @vents or
conditions that. individually or collectively, may cast significant doubl on the charity's ability to continue as a going
concem for a peTiod of al least Iwelve monlhs from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Irustees wilh respect to going Goncern are described in the
levanl sections of Ihis report.
Other information
The trustees are responsible for the other information. The other information comprises Ihe information included in
the annual reporl, other than Ihe financial statements and our auditor's report Ihereon. Our opinion on the financial
statements does not cover the other information and. except to the extent otherwise explicitly staled in our report,
we do not express any form of assurance condusion thereon.
In connection with our audit of the financial statements, our responsibility 15 to read Ihe other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misslated. If we idenlify such material
inconsistencies or apparent material misstatements, we are required to determine whether Ihere is a material
misstatement in the financial statements or a material misstalemenl of the other infomiation. If. based on the work
we have performed. we condude thal there is a material misstatement of this other information. we are required to
report that fact.
We have nothing to report in this regard.
12-

SUSSEX COMMUNITY FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SUSSEX COMMUNITY FOUNDATION
Opinions on other matters prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the informalion given in the trustees, report for the financial year for which the financial statements are
prepared, which includes the directors. report prepared for the purposes of company law, is consistent with the
financial statements,. and
the directors. report included within the trustees, report has been prepared in accordance with applicable legal
requirements.
Matters on whlch we are required to report by exception
In the light of Ihe knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not identified material misstatements in the direclors, report included within the truslees. report.
Vve have nothing to report in respect of Ihe following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounting records have not been kept, or retums adequate for our audit have not been received
from branches not visited by us. or
the financial ststements are not in agreement with the accounting records and returns., or
certain disclosures of trustees, remuneration specFfied by law are not made- or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the
requiretnent lo prepare a strategic report.
Responsibilities of trustees
As explained more fully in the statement of trustees. responsibilities, the trustees, who are also the directors of the
charity for tho purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such internal control as the trustees determine is f)ecessary to
enable the preparation of financial statements that are free from material misstatement. whether due to fraud or
error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a
going concern, disclosing, as applicable, matters related to going concem and using the going concwn basis of
accounting unless the trustees either inlend to liquidate the charitable company or to cease operations, or have no
realistic altemative but to do so.
Auditor's responsibilities for the audit of the financlal ststements
Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from
material misstatement, whether dtje to fraud or error. and to issue an auditols report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit Gonducted in accordance
with ISAS {UKI will always detect a material misslatemenl 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 lo influence
the economic decisions of users taken on the basis of these financial statements.
In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud, we..
obtained an understanding of the nature of the seclor, including the legal and regulatory framewotk Ihat the
charitable company operates in and how the charitable company complies with the legal and regulatory
framework"
inquired of management, and those charged with govemance, about their own identification and
assessment of the risks of irregularities, including any known actual, suspected or alleged instances of
fraud,. and
discussed matters about non-compliance with laws and regulations and how fraud might occur including
assessmenl of how and where the financial statements may be susceptible to fraud.
13-

SUSSEX COMMUNITY FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SUSSEX COMMUNITY FOUNDATION
As a result of these procedures we consider the most significant laws and regulations that have a direct impact on
the financial statements are FRS 102, Charities SORP {FRS 102). Companies Act 2006, Charities Acl 2011, the
charitable company's governing document, tax legislation and the Charities (Protection and Social Investment) Act
2016. We perfomied audit procedures to detect nonacompliances which may have a material impacl on the financial
statements which included reviewing the financial statements, including the Trustees, report, remaining alert to new
or unusual transactions which may not be in accordance with Ihe governing docurnenl.
The most significant laws and regulations that have an indirect impact on the financial statetnenls are employment
law and the UK General Data Protection Regulation {UK GDPRI. We performed audit procedures lo inquire of
management and those charged with governance whether the charitable company is in Compliance with these laws
and regulations and inspected correspondence wilh regulatory authorities.
We identified the risk of management override of conlrols as the area where the financial slalements were most
susceptible to material misstatement due to fraud. Audit procedures performed included, but were not limited to.
testing manual joumal entries and other adjustments, evaluating the business rationale in relation to significant,
unusual transactions and transactions entered into outside the normal course of business and challenging
judgments and estimates.
Because of the inherent limilalions of an audit, there is a risk that we will not delect all ifregularities. including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases
the more that Complian￿ 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 8ware of instances of non-compliance. The risk is also
greater regarding irregularities occurring due to fraud rather than error, as fraud involves inlentional concealment.
forgery, collusion, omission or mISrep￿SentaIIOn.
A further description of our responsibilities is available on the Financial Reporting Council's website al.. https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditof's report.
Use of report
This reporl ig made solely lo the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16
of the Cofflpanies Act 2006. Our audil work has been undertaken so that we might state to the chwitable
company's Irustees those matters we are required to slate lo them in an auditor's report and for no othcr purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other tt2n the Charitable
company and the charitable company's trustees as a body, for our audit work. for this report. or for the opinions we
have formed
Lir
David Martin FCA (Senior Stalutory Auditor)
for and on behalf of Knill James LLP
Chartered Accountants
Statutory Auditor
One Bell Lane
Lewes
East Sussex
BN7 1JU
14

SUSSEX COMMUNITY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Current financial year
Unrestrlcted Restrlcted Endowment
funds
funds
funds
2024
2024
2024
Total
Total
2024
2023
Notes
Donations and legacies
Other tfading aclivities
Investments
622,615
1,299,297
1,828.484
2,341
3,750.396 3,206,976
2,341
2,822
310,233
337,514
59,547
250,686
Total income and endowments
682,162
1,549.983
1.830,825 4,062.970 3,547,312
Raising funds
160,174
160,174
140.618
Charilable aclivities
681,167
2,886,884
281,712 3,849,763 4,516,728
Total expendlture
841,341
2,886,884
281.712
4,009,937
4,657,346
Net gainsl(lossesl on investments
12
2,580,089
2,580,089
{942.547)
Net (outgoing)lincoming resources before
transfers
(159,179) {1,336.901) 4,129,202
2,633,122 12,052,581)
Gross transfers between funds
1,130,228 {1,130,228)
Net movement in funds
(159,179) (206.6731 2.998.974 2,633,122 12.052,5811
Fund balances at 1 April 2023
502.490
1,611,698 24,034,460 26,148,648 28.201,229
Fund balances at 31 March 2024
343.311
1.405,025 27,033,434 28,781,770 26,148,648
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
15-

SUSSEX COMMUNITY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Prior financial year
Unrestricted Restricted Endowment
funds
funds
funds
2023
2023
2023
Total
2023
Notes
Donations and legacies
Other trading activities
Investments
693,453
1,949,922
563.601
2.822
3,206.976
2,822
337.514
14,985
322,529
Total income and endowments
708,438
2,272,451
566,423
3.547.312
Ex
ndi
Raising funds
140,618
140,618
Charitable activities
617,731
3,635,019
263,978
4,516,728
Total expenditure
758,349
3,635,019
263,978
4.657,346
Net gainsl(losses) on investments
12
1942,5471 {942,5471
Net (outgoing)lincoming resources before transfers
(49,9111 {1,362,5681 1640.1021 12,052,581 }
Gross transfers between funds
1,290.726 (1,290,726)
Net movement in funds
(49,9111
171,842) {1.930,828} 12,052.581 }
Fund balances at 1 April 2022
552.401
1.683.540 25.965.288 28.201,229
Fund balances at 31 March 2023
502.490
1,611.698 24.034.460 26,148,648
16-

SUSSEX COMMUNITY FOUNDATION
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Gross income
Transfer from endowment funds
2,232,145
1,130.228
2,980.889
1,290,726
Total income in the reporting period
3,362.373
4,271,615
Total expenditure from income funds
3,728.225
4,393,368
Net expenditure for the year
{365.852)
(121.753)
Reconciliation to Statement of Financial Activities
Gross income (above)
Endowrrtent fund income
2,232,145
1,828,484
2,980.889
563.601
Total income and endowments
4.060.629
3.544,490
Totsl expenditure from income funds (above)
Endowment fund expenditure
3,728,225
281.712
4,393,368
263,978
Total expenditure
4.009.937
4,657,346
Net gainsl{losses) on investments
2,580,089
1942,547)
Net movement in funds
2,630,781
12,055.4031
17-

SUSSEX COMMUNITY FOUNDATION
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Fixed assets
Investments
15
26.889,251
23,781.307
Current assets
Debtors
Investments
Cash al bank and in hand
17
18
191,846
291,000
1,473.179
194.629
291.000
2.038,168
1,956,025
2.523,797
Creditors: amounts falling due within
one year
19
{63.506}
(156,456)
Net current assets
1,892,519
2,367,341
Tolal assets less Current liabilities
28,781,770
26,148,648
Capital funds
Endowment funds
Income funds
Reslricled funds
Unrestricted funds
21
27.033.434
24,034.460
22
1,405,025
343,311
1,611,698
502.490
28,781,770
26,148,648
The financial statements were approved by the Trustees on .........................
Mark Spofforth OBE- Chair
Trustee
Company reglstTation number 5670692
18

SUSSEX COMMUNITY FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activities
Cash absorbed by operations
27
(347,366)
{1,479.755)
Investing activities
Purchase of investmenls
Proceeds from disposal of investments
Investment income received
(1.880,5221
1,352,666
310,233
(686,686)
1,452,700
337,514
Net cash {used in)Igenerated from
investlng activities
1217.623)
1,103,528
Net cash used in financing activities
Net decrease In cash and cash equivalents
(564.989)
{376.227)
Cash and cash equivalents at beginning ofyear
2,038.168
2,414,395
Cash and cash equivalents at end of year
1,473,179
2,038,168
19-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting poltcies
Charity information
Sussex Comrnunity Foundation is a private company limited by guarantee incorporaled in England and Wales.
The registered office 1$ 15 Westem Road, Lewes, East Sussex, BN7 1 RL.
1.1 Accounting convention
The financial slalements have been prepared in accordance with the charily's Igoverning documentl, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland. I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities= Statement ot
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}" (effective 1 January 2019}. The
charity is a Public Benefit Entity as defined by FRS 102.
The financial slalements are prepared in sterling. which is the functional Cur￿ncY of the chaiily. Monetary
afflounls in these financial statemenls are rounded to the nearest £.
The financial statemenls have been prepared under the historical cost convention, modified to include the
revaluation of certain financial instruments at fair value. The principal accounting policies adopted are sel out
below.
1.2 Going concern
At the tiffle of approving the financial slalemenls. the trustees have a reasonable expectation thal the charily
has adequate resources lo conlinue in operational existen￿ for the foreseeable fijlure. Thus the trustees
continue to adopt the going con￿rn basis of accounling in preparing Ihe financial stalemenls.
1.3 Charitable funds
Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charilable
objectives unless the funds have been design8le(I for other purposes.
Re51ricted funds are subject to specific conditions by donors as to how they may be used or have been raised
by the charity for parlicular purposes. The purposes and uses of the reslricted funds are set out in the notes to
the accounts.
Expendable endowment funds represent those assets which, under the Articles of AssoGialion, the truslees
have power to invest and which have been invested to generate investment income and capital gains which
can be distributed as grants for the benefit of the community- Income arising on the expendable endowment
funds can be used in accordance wilh the objects of the charity and is spilt belween restricted and
unrestricted funds in accordance with agreements made with individual donors. Any capital gains or losses
arising on the investments form part of the fund. Investment management charges and legal advice relating lo
the fund are charged against the fund.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable Ihat income will be received.
Cash donations are recognised on receipt. Other donations are recognised once Ihe charity has been notified
of the donation, unless performance conditions require deferral ol Ihe amount. Income lax recoverable in
relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donatioll.
Legacies are recognised on re￿Ipl or otherwise if the charity has been notified of an impending distribution,
the amount is known, and receipt is expected.
-20-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
For flow-through funds management fees are taken at the time the donation is re￿iVed by the Foundation. If
the value of the fee exceeds £5,000 this income is spread over the period during which the grant making fund
is disbursed. In all cases the managemenl fee is treated as income at the date of receipt of the donation.
1.5 Expendlture
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments to third parties, it is probable that the settlement will bè required and the amount of the
obligation can be measured reliably.
Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of
disseminating information in support of the charitable activities. Support costs are those costs incurred directly
in support of expenditure on the objects of the charity and include project management carried out by the
charity. Govemance costs are Ihose incurred in connection with the administration of the charity and
compliance with constitutional and statutory requirements.
Grants payable are charged in the year in which they are awarded.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
deprecialion and any impairrnent losses.
Capital purchases over £5,000 are recognised at cost.
Depreciation is recognised so as to write off Ihe cost or valuation of assets less their residual values over their
useful lives on the following bases=
Fixtures, fittings & equipment
straight line over four years
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting dale. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expensed as iricurred.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid
inveslments wilh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in currenl liabilities.
1.9 Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the charity becom8s paty to the conlractual provisions of the
instrument.
Basic finan¢ial assets
Basic financial assets. which include trade and other receivables and cash and bank balances, are initially
measured al transaction price including transaction cosls and are subsequently carried at amortised cosl
using the effective interest method unless the arrangement conslitutes a financing Iransaction, where the
transaction is measured al the present value of the future receipts discounted at a market rate of interest.
21

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
Basic financlal Ilabilitles
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless
the arrangement constitutes a financing iransaction, where the debt instrument is measured at the present
value of the future receipts discounted al a market rate of interest. Debt instruments are subsequently carried
al amortised cosl, using the effective interest rale method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11 Leases
Rentals payable under operating leases, induding any lease incentives received, are changed to income on a
straight line basis over the term of the relevant lease.
1.12 Fund accounting
Unrestricted funds are general funds which are available for use at the discretion of the truslees in furtherance
of the general objectives of the charity including Core wsls and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the charily for partiCLJlar purposes. The cost of raising and administering such
funds are charged against the specific fund. All Restricted Funds held are Flow-through Named Funds,
intended for awarding grants to local charilies and community groups within a short titnescale (normally up lo
one year). These funds are detailed in Nole 16 to the financial statements.
Expendable endowment funds represent those assets which. under the Articles of Association. the tnjstees
have power to invest and which have been invested lo generate investment income and capital gains which
can be distributed as grants for the benefit of the community. Income arising on the expendable endiyNment
fijnds can be used in accordance with the objecls of the charity and is included as unrestrittled inc(yne. Any
capital gains or losses arising on the inveslmenls form part of the fund. Investment management charges and
legal advice relating lo Ihe fund are charged againsl the fund.
Inveslment incoffle and gains are allocated to the appropriate fund.
22-

vj
IYJ
T> f
fn * r
YJN

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Other trading activities
Endowment
funds
2024
Total Endowment
funds
2023
2024
Letting arrangemenls
2,341
2,341
2,822
Investments
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricled Restricted
funds
funds
2023
2023
Total
2024
2023
Income from unlisted
investments
Interest receivable
250,686
250,686
59,547
322,529
322.529
14,985
59,547
14,985
59,547
250,686
310,233
14.985
322,529
337,514
Raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Fundr
in
and ublici
Fundraising evenls
Other fljndraising costs
staff costs
8,963
1,177
347
139,094
151.211
160.174
140,618
-24-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on charftable activities
2024
2023
Staff costs
Depreciation and impaimient
Management charge
Other costs
419.424
354,097
542
624.406
60,494
528.870
54.543
1.002.837
1,039.539
Grant funding of activities (see note 7)
2,639,725
3,274,590
Share of support and govemance costs (see note 8)
Support
Govemance
146,757
60,444
140,779
61,820
3,849.763
4,516.728
Analysis by fund
Unrestricted funds
Restricted funds
Endowment funds
681,167
2,886,884
281.712
617,731
3,635,019
263.978
3.849,763
4,516,728
25-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Grants payable
2024
2023
Grants payable
2,639,725
3,274,590
668 grants {2023 - 7261 worth £2,639,725 12023 - £3,274,590) were awarded to 449" groups (2023 - 504)
and 34 individuals (2023- 29). The average granl awarded was £4.255 {2023 - £4.5241. 132 grants were for
£1,000 or less12023- 84).
.13512023 - 1461 groups received more than one grant.
Examples of the grants to institutions of more Ihan £10.000 awarded durir)g Ihe year were as follows=
Details
Amount £
CitizensAdvice in West Sussex
£60,041
Jusllife Foundation
£80,533
EthF)ic Minority & Travoller Achievement Service - West Sussex
£29,743
Tuming rides
£49,906
Kent Community Foundation
£24.900
Crawley Community Youlh Senrice
£22.000
Community Base
£20,000
Grants to Kent Community Foundation relale to Little Cheyne Court Wind Farm Fund. which is managed in
partnership with the Kent Community Foundation.
-26-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Governance
costs
costs
2024
Support Governance
costs
costs
2023
Staff costs
Rent
Insurance
Property service charge
Bank charges
Staff training and
recruitment
Staff travel and
subsistence
Computer software,
systems and applications
Printing. postage and
stationery
Telephone
Repairs and maintenance
Grant making costs
Audit fees
Legal and professional
Bookkeeping and
accountancy
Trustees meelings and
expenses
Annual report and AGM
21,720
29.446
753
7,592
338
33,749
55,469
29.446
753
7,592
338
28,712
22,836
270
5,915
297
37,301
66,013
22,836
270
5,915
297
10,406
10,406
41,133
41,133
5.238
5.238
4.822
4.822
63.183
63.183
29.382
29.382
2,259
4,114
1,708
2.259
4,114
1,708
2.816
4,124
472
2,816
4,124
472
370
7,260
6,852
370
7,260
6,852
7,920
8,634
7,920
8,634
6.167
6.167
5.806
5.806
1,748
2,226
1.748
2,226
2.058
2.173
2.058
2.173
146.757
60,444
207,201
140,779
61,820
202.599
Analysed to
Charitable activities
146,757
60,444
207,201
140,779
61,820
202.599
The charity's auditors Knill James LLP also supplied accountancy services to the charity during the year for a
fee of £Nil12023 - £600).
Net movement in funds
2024.
2023
The net movement in funds is slaled after chargingllcrediting}=
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
7,920
7,260
542
10 Trustees
None of the Irltstees lor any persons connected with them) received any remunaration or benefits from the
harity during the year.
27-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Charitable employees
15
14
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
548.003
51,943
26.158
489,397
46,733
23.074
626,104
559,204
Pension contributions
The charity operates a defined contribution pension scheme. At Ihe year end, there were £3.441 of
outstanding pension contributions owing to the scheme12023 - £2,2301-
The number of employees whose annual remuneration was more Ihan £60.000
is as follows-.
2024
Number
2023
Number
In the band £70.001- £80,000
Contributions totalling £3,922 (2023 - £3,688) were made lo defined contribution pension schemes on behalf
of employees whose emoluments exceed £60,000.
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
2024
2023
Aggregate compensalion
91,937
86,841
12 Gains and losses on investment5
Endowment Endowment
funds
funds
2024
2023
Gainsl{losses) arising on..
Revaluation of investments
2,580,089
{942,5471
-28-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Taxation
The charily is exempt from taxation on its activities because all its income is applied for charitable Pufposes.
14 Tangible fixed assets
Fixtures,
ffttSngs &
¥qulprn•nt
Cost
At 1 April 2023
13,758
At 31 March 2024
13,758
Depreciation and impairment
At 1 April 2023
13.758
Al 31 March 2024
13,758
Carrylng amounl
15 Fixed asset investments
Securities
Cost or valuation
At 1 April 2023
Addilions
Valuation changes
Disposals
23,781,307
1,880.522
2.580.088
{1.352,6661
At 31 March 2024
26.889,251
Carrying amount
At 31 March 2024
26,889,251
Al 31 March 2023
23,781,307
16 Flnancial instruments
2024
2023
Carrying amount of financral assets
Instruments measured at fair vallte through profit or loss
27,180,251
24,072,307
-29-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Debtors
2024
2023
Amounls falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
30,731
135,865
25,250
106,195
81,252
7.182
191,846
194,629
18 Current asset investments
2024
2023
Short lerm investments
291,000
291,000
Current asset investments represent freehold properties held for sale.
19 Creditors- amounts falling due wilhin one year
2024
2023
Other taxation and social security
Trade creditofs
Other creditors
Accruals and deferred income
13,710
3,470
3.691
42.635
12,027
13.227
2.208
128,994
63.506
156.456
20 Retirement benefit schemes
2024
2023
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
26,158
23.074
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separalely from those of the charity in an independently administered fund.
30-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21 Endowment funds
At 1 April
2023
Incoming
resources
Resour¢es
expended
Transfers
Gains and At 31 March
losses
2024
Expendable endowments
Sarasin
Endowment
including
grassroots
Community First
Trust
CCLA Other
11,696,378
484,574
1172,256)
1686.856)
1,223,484
12,545.324
7.842.989
4.495.093
770.565
586,040
8.613,554
5.874,556
1.346,251
(109.456)
(443.372)
24,034,460
1.830.825
(281,712) (1,130.228)
2,580,089
27,033.434
Previous year:
At 1 April
2022
Incoming
resources
ResouTce5
expended
Transfer5
Gains and At 31 March
losses
2023
Expendable
endowments
Sarasin
Endowment
including
grassroots
Community First
Trust
CCLA Other
12,651,271
395,423
1186,523)
(712.213}
1451,580) 11.696.378
8,346.503
4,967,514
(86,6181
1491,895}
(416,896)
(74,071)
7,842,989
4,495,093
171,000
(77.455}
25,965,288
566,423
1263.978) (1,290,726}
1942,547} 24.034,460
Transfers of £1.130.228 (2023 - £1,290,726) represent drawdowns from endowrnent for grant making and
operaling costs. "Grassroots" and "Community First" relate to two governmenl funded endowment match
challenges.
22 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balan￿5 of
donations and grants held on trust for specific purposes:
At 1 Aprfl
2023
IncomÉng
resources
Resources
expended
Transfers At 31 March
2024
Funds held for grant making
1,611,698
1,549,983
(2,886,884}
1,130,228
1,405,025
31

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
22 Restricled funds
(Continued)
Prevlous year:
At 1 Aprll
2022
Incomlng
resources
Resources
expended
Transfers At 31 March
2023
Funds held for granl making
1,683,540
2.272,451
(3,635,019)
1,290.726
1,611,698
23 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subjecl to specific conditions by donors and grantors as lo how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2023
Incoming
resources
Resources At 31 March
expended
2024
General funds
502,490
682,162
(841,341)
343,311
Previous year-
At 1 April
2022
Incoming
resources
Resources At 31 March
expended
2023
General funds
552,401
708,438
(758.3491
502,490
24 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted Endowment
funds
funds
2024
2024
Total
2024
At 31 March 2024:
Inveslments
Current assetsl(liabilities)
26.889.251
144,183
26,889,251
1,892,519
343.311
1.405.025
343,311
1,405,025
27,033,434
28.781.770
-32-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
24 Analysis of net assets between funds
(Continued)
Unrestrlcted
funds
2023
Restrl¢ted Endowment
funds
funds
2023
2023
Total
2023
At 31 March 2023:
Investments
Current assetsllliabilities}
23,781,307
253,153
23,781,307
2.367,341
502,490
1,611,698
502,490
1.611,698
24,034,460
26,148.648
25 Operatlng lease commllments
Lessee
At the reporting end date the Charity had outstsnding Gommitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows-.
2024
2023
Within one year
Between two and five years
32,639
14.393
26,333
13,480
47,032
39,813
26 Related party transactions
Transactions with related parttes
During the year the charity entered into the following transactions with related parties=
Grants totalling £5,000 were awarded to Diversily Resource International of which M Ghebreweldi is
a Direclor.
Grants totalling £9,067 were awarded to Lancing and Sompting Churches Foodbank of which N
Munday is a Trustee.
-33-

SUSSEX COMMUNITY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
27 Cash generated from operations
2024
2023
Surplusl{deficit) for the year
2,633,122
12,052,581)
Adjustments for:
Inveslmenl iricome recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assels
{310,2331
(2,580.0891
1337.5141
942,547
542
Movements in working capital..
Decreasel{increase) in debtors
(Decrease}lincrease in creditors
2,784
{92,950)
{138,873)
106,124
Cash absorbed by operations
1347.3661 11,479,755)
28 Analysis of changes in net funds
The charity had no malerial debt during the year.