CASTLE CAVENDISH FOUNDATION
Acom
an Ilmltad b
uarant8•
NSOLIDATED FINANCIAL STATEMENT
R THE YEAR ENDED 31
T MARCH 2024

CASTLE CAVENDISH FOUNDATION
IA company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 ST MARCH 2024
CONTENTS
Trustees, Annual Report
10-13 Independent auditor's report
14-15 Consolidated statement of finan¢lal actlvities
16
Consolidated balance sheet
17
Charity balance sheet
18
Consolldaled cash flow stst8m8nt
19-36 Notes to the consolidated financial ststements

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantoe)
TRUSTEES, ANNUAL REPORT
Th8 Trustèes, who are also directors of the charity for the purposes of the Companies Act, submit their
annual report and th8 audited financial statements for the year ended 31 March 2024. The Trustoos have
opted to prepare the accounts using the Financial Reporting Stsndard applicable in the UK and the
Republic of Ireland {FRS 1021 and follow the Charities SORP (FRS 1021.
GOVERNING DOCUMENT
Castle Cavendlsh Foundatlon Is a company Ilmlted by guarantee govemed by Its Memorandum and
Articles of Associ8tion as amended on 15th November 2023. It is registered as a Charity wlth the Charity
Commission. Anyon8 over the age of 16 can become a member of th8 Company, each of whom agrees
to contribute a maximum of £1 In the event of the Charity winding-up.
COMPANY REGISTRATION NO. The company reglstration number 6$ 04209702.
CHARITY REGISTRATION NO.
The company is also regist8r8d wlth the Charlty Commlssion.
Thè r8glstration number is 1119003.
ANI
ATIONAL STRUCTURE
Castie Cav8ndl8h Foundation {the Charity) has 8 Board of Trustees that governs and administers th8
organisatlon. Up to 15 Trustees are allowed on th8 Board at any one time. The Board meets every 6
weeks, and has Ihe ability to appoint a Chief Executive to manage th8 day-tO-d8y oper8tion8 of the
organisalion. To facllitste effective operations, the Chlef Ex6cutiv6 has delegated authority, wlthin lenns
of delegation approved by the Trustees, for operational m8tters including flnance and hum8n resources.
The Charlty has estsblSshed a wholly owned trading subsidlary, Castl8 Cavendish Limlted Ith8 Trading
Amil. This Is administered by non-executlve dirèctors, and operates on a commercial basis to maximise
Income, whl¢h is then donated through to the Charity.
PUBLIC BENEF
Th8 Trustees have r8ferred to the guidance In the Charlty CommlssSon's g8ner81 guidance on publlc
benefit when r8v18wing their aim and oblectiV8s and in planning Ihelr future activities. In partScular, the
Trust8e8 Consider how planned actlvltles will contribute to the alm and objectives they have set.
In 2023-24, Castle Cavendlsh continuèd to provide a slgnlficant public benefit to the communities within
th8 Charlty's area of op8ration.
MISSION & KEY AIMS & OBJE
TIVES
Castle Cavendish is a 'not for profit, organisation and cèrtified social enterprf88. It sees itself as a social
impact company supporting some ofthe most diverse and disadvantaged Gommunities of Nottingham. Its
mission is to improv8 people's lives by supporting the voluntary and business sectors to grow and develop
in an elhical and sustainable way.
We believe that worf(ing with local communllies and businesses to help them build their capacity,
capability and resilience is vital if we arè to tackle societal challenges, achieve a just transition to Net Zero
and help us progress as a society in a way that reduces in8quality and leads to better WO￿ and healthier.
happier lives.

CASTLE CAVENDISH FOUNDATION
{A company Ilmllad by guarantee)
TRUSTEES, ANNUAL REPORT
TRUSTEES
Members of the Board of Trusteés and also directors for company law purposes. The Trustee5 during
the year ended 31 March 2024 We￿ as follows..
Mark Spouge
Shoaib Khan
PaNeen Begum
Zane Powers
Jay Ludditt
Fadzai Gamban9a
John Ydlibi
Benglsu Sahin
Natslie Rebecchi
Andrew Atherton
(Retired 151fy November 2023)
(Chair)
(Appointed 151h November 2023)
(Appointed 3111 January 2024)
During 2023124, Craig Elder, John Ydlibl and Dave Brennan acted as nonwexecutive directors of the
trading ami (CCLI. Mark Spouge was appolnted as a non-executive director on 24th January 2024.
PRINCIPAL OFFIC
The pdnclpal office Is Castle Cavendish Wort(s, Dorklng Road, Radford, Nottingham, NG7 SPN.
RELEVANT ORGANISATI
nk8
Na￿est PIC
536 Valley Road
Basford
Nottingham
NG5 1LF
Rogers Spencer
Newstead House
Pelham Road
Nottlngham
NG5 1AP

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantee)
TRUSTEES. ANNUAL REPORT
ANNUAL REVIEW
In 2023124 Caslle Cavendish made a signlficant contribution to supporting the organisations and
communities it serves. Even considering the challenging times
the global turfoulenc8, an economic
depression, higher utility ¢osts and the cost-of-living crisis- we have continued to make an impact, locally,
by managing our plac6s and spaces effectively, generating a net surplus, and combining our resources
wlth grant funding to support a range of local voluntsry and community groups.
ortln
our Communl
AS In previous years, a large proportlon of our extemal fundlng has b88n provlded by Nottingham Clty
Council, via the Area Based Grant IABG}. Unfortunatgly, this suffered a further reduction in 2023124. Yet
despite Ihis, we have continued to work effectively with our trusted delivery partners to achieve a I6v81 of
outputs that has dèlivered real outcomes for our communities.
Youn
18:
There has been continued focus on support6ng actlvit188 for ChSldren and Young People (C&YP). Last
year, w8 W8r8 abl8 to work with 23 trusted VCS deliv8ry partners to provide more'things to do and pla¢es
to go. for local C&YP than ever before. From youth groups, playschemes, sports clubs and physical activity
sessions to forestry schools, dance classes. fitness boot camps and much more, we developed and
support8d 33 x Play (for 5-11 yr olds) or Youth (for 11-17 yr olds) projects across the clty, offering an
unmatch8d range of out-of-school activities for C&YP throughout school term-llmes.
Complementing this has been our support for familles ov8r the school holidays through the Holiday Activity
& Food {HAFI programme. The HAF programme is funded by the Department for Education for tsckling
holiday hunger, targeting the support towards low-lncome households wlth chlldr8n eliglble for Free
School Me8ls. Once again, by working closely with our trusted VCS partners we have d81ivered over 560
hrs of holiday provlsion and over 3,620 free meals to some of our city's most vulnerable families.
ment &
Also seen as a top Priority is supporting Ioc81 Jobsè8kers lo overcome probl8m$ of poor Ilt8fdCy and
numeracy, enhance their language and IT skills, and access tralnlng opportunities designed to help
improve Ihelr employment prospects. We have therefore worked closely with several specialist VCS
providers, utilising ABG funding as match, 8nabling them to access European Social Funding {ESFI and
deliver a high-quality intenslve support offer for 16-24 yr olds. Overall, 136 local jobseekers have been
supported into Sustainable, long-temi employment of 6 month8 or more.
We also worked In partnership to dellv8r a rdnge of open access weekly 'Work Club$. from the ne￿ork
of local libraries. These sessions provide both group and 1-2-1 support for lo￿1 jobseekers not eligible for
the ESF supported projects 8nd were able to support a further 230 loGal jobseekers, with many moving
on Into wo￿, tralning or education.
Alongslde thls, we also offer8d a range of accredited and informal ESOL (English for Speakers of Other
Languages) classes, IT literacy courses, a community Jobs Fair and various other inltiatives that all helped
local communities overcom8 th8ir barriers to employment.
Health & Wèllbein
Last year saw a further emphasis of our work towards Improving the health and wellbeing of our resldents.
We successfully secured additional grant funding from Nottingham City Council to support a range of
health and wellbeing activities, using this funding to support our trusted VCS delivary partners Ihal are
embedded within those communities to develop a number of unique and innovative projects, including..
seated 8xercise classes,. walking football., bespoke community cricket and netball projects; community
eating projects; creative arts sessions; along with proj8Cts that helped people access local parks, green
spaces and nature reserves.
All these acliviti85 were particulady succ8ssful in helping those with limited mobility, loneliness and
isolation, social anxiety and other low-level mentsl health issues to improve their overall health and
Wellbeing.

CASTLE CAVENDISH FOUNDATION
{A company Ilmlted by guarantee}
TRUSTEES, ANNUAL REPORT
ANNUAL REVIEW
conllnued
Communi
Grou
We also provided bespoke advice and support for 42 local ¢ommunlty groups over the last year. This
ranged from responded to questions and qu6ries over govemance and procedural matters, to providing
more in4epth support and guidanc& enabling them to draft up a working constitution, guide them through
the CIO, CIC or Charitable Trust application process andlor support them in bidding for funds.
Indeed, we assisted and supported sevèral local VCS groups to access funding. including: Slgnpost to
Polish Success {SPS} who were awarded £249k from the National Lottery Community Fund; Nottingham
Health Education Support {NHES) who werè awarded a £45k grant from BBC Childrén in Need; and The
Lenton Centre was successful in applying for £147k from the Gov8mm8nts Community Ownership Fund
to repair the Centres roof.
an
ur Pro
rtle8
Castle Cav6ndish, through its trading ann {Castlé Cav8ndlsh Ltd). continued to manage ts property base
through tough economic conditions. Although the posl-pandemic world and the economic downtum had
led to temporary reduction in occupancy rates, thls has now been reversed. Th8 increaslng role of
remotelhybrid working has ensured that our business centres
Castle Cavendish Works & Castle
Cavendish Enterprise Centre - provide th8 right flexible approach, with easy-in and easy out terms. Both
business canlres now having occupancy rates over 900/0. Alongside this has been the increasing use of
our meeting spaces, with the hust18 and bustlo of our communal areas once again making them idaal
places to do business. Recently, we also launched a new Business Assist Membership that provides a
small business with all the things they need, without a¢tually renting a physical office spa¢e.
Although our businéss centres ar8 matching up to business needs and priorities, it was also felt right that
Castle Cavendish should also ￿spOnd to th6 developing Environment, Social and Govemance IESG}
agenda. Followlng the fomal launch of caS￿e C8vendish Works as Nottingham's Ethical Business Centre
In 2022, we have adopted a range of measures in the way w8 operate and manage our facilities. This puts
in place new policies that supports our 8thical stance.. how we select new busln8SS t8nants with a social
purpos8; how we procure our supplies from local sour￿$,. how we try to reduce our environmental impact..
how we support B2B workshops,. and how w8 exp8Ct our businesses to act and operate with each olh8r.
All with the focus of achieving the tripl8 bottom line of social. environmental and financial retums. This has
now culminatèd with 'The Good Ethlcal Stand8rd', which was fomally launched in April 2024 by Lillian
Greenwood MP. This Standard s8ts out 10 key principles in how we manage our bulldlngs In an ethlcal
way, ensuring good policy and practice in the way that we do Ihlngs.
Importantly, a key component of The Good Ethical Standard is to reduce our negatlv8 Impact on th8
environment. We are now tsking steps lo minimise our energy usage. water consumption, waste and C02
emissions, whilsl switching to sustainable products and materials and promoting Sustainable transport.
Our Cy¢le Sh61t8rs, our EV charging points, our electric van and the conversion to 750/0 renewable energy
rates are notable signs of progress in our quest lo achieve Net Zero.
In regards our other properties, we have continued to S88 hlgh occupancy levels. Tennyson Hall, a
renovated Victorian school, is currently 1000/0 occupied by 2 VCS Organisations - Belong and Slgnpost to
Polish Succoss - who have both benefited frorn our patronage and who have secured future grant from
national funders. Close nearby on Alfreton Road, our retail units make up a very impressive shopping
parade. Through r8furtiishment of the Boden Street unit, the parade Is now 100% occupied.
In August 2023, w8 took over the management of Haydn Road Pavilion & Sports Ground. Following 18
months of negotiations and due diligence, we ent8red into an innovative, 50-year Lease Agre8m8nl with
The Lady Carol Djanogly Memorial Fund to manage the site and re16ase its potential. With a partnership
with Djanogly Leaming Trust and Nottinghamshire County Cricket Club, and through a User Agreement
with Nottingham Free School, we hope to develop the site as a thriving community Sports facility for young
people and marginalised groups. Earty discussions with Sport England and the National Lottery Heritage
Fund on the potential for future investment and support seem highly promising.
In March 2024, we also took possasslon of Forest Fields Play Centre from the City Council. We are now
working with a local VCS partn8r in supporting young people that have been, or are close to, excluded
from mainstream 8ducation.

CASTLE CAVENDISH FOUNDATION
(A company Ilmllod by guarante0}
TRUSTEES, ANNUAL REPORT
ANNUAL REVIEW
contlnued
D vol In
hl
As part of our role as Area Lead Organisation for Nottingham City Council, our extemal work with key
stakeholders and community partners has been ongoing throughout the year. This has certainly benefitted
out daveloping relationship with new delivery partners associated with our HAF programme.
Through our relationship with Nottinghamshire County Cricket Club. initiated from the HAF programme,
we are now in detailed discussions with Sport England land their agents) on the future redevelopment
and use of Haydn Road Pavilion & Sports Ground. As part of this process. Sport England commissioned
a Health Ch8ck on Castle Cavbndish, and we have matched their requirements. We are now having
dialogue with them on other pot8ntlal fundlng opportunlties.
Mor8ov8r, Haydn Road Pavilion & Sports Ground ha8 al80 been the subject of a bld for funds from the
National Lottery Heritage Fund, following the uncoverfng of ils rfch sporting past- it hosled an Intemational
Hockey Match be￿een England and Wales in 1926. We are now developing a heritage-based project to
bring back to life the historical importanc8 of Haydn Road on ¢ivi¢ life, and we have recently secured funds
from th8 National Lottery Heritsge Fund for the fir8t phase.
Our prevlous work around health and wellbeing projects, along wlth our developing community-based
sporting facility at Haydn Road. has been recognised by the Active Notts (the Local Sports Partnership)
along with Nottingham City Place Bas8d Partnership (the Health and Wellbeing Partnarshlp). Hopefully,
some of our knowledg8 and intelligence Gan be included into new ways of working that are more user-led,
rather than 8ervlc8-orlontsted.
Having b88n recently certified a8 a 'Social Ent8rprfs8' by Social Enterprise UK, w8 are now working with
them on the concept of developing 'The Good Ethical Standard, Into an approach that Is transferrable to
other similar propety-based, social enterprises.
Perf
rmln
Flnanclall
In 2023124, our trading subsidiary g8n8rated an overall revenue of lust under £670k. This Is really go¢
given the difficult economic conditions. In eff8Ct, this has provided us a yl8ld of 430/0. At the same tlme,
our charitable side was ablè to attract a total of £423k of grant from various funding streams. Therefore,
2023124 has se6n a total combined income of£1.093m. This comparès to £1.134m in the previous year.
The incom8 generated by our trading activities represents 61 Q/0. Wlth 39 % of income received for our
charitable actlvities. This compares with th8 previous year of 54Qh and 460/0, respectiV81y.
In regards costs, 2023124 saw us spend £645k on our trading activities, and has had to deal wlth the
higher cost of supplies and ener9y Costs. Our grant programme expenditure, along wlth support costs,
has lotalled £524k in 2023124, with 30 trusted VCS delivery partners supported by grant funding. Our
overall combined spend, therefore, amounts to £1.169m, compared to £1.078m in 2022-23, with our
trading ¢osts equating to 550/0 and 45% on our charitsble Costs, compared to 8 50150 split In 2022123.
Taking into a¢¢ount depreciation and other accountancy entries, our trading arn (Castle Cavendish Ltd}
has made a net profil of £24k, with a n8t return of 3.7¥0.
In regards our core management and 9ovemance costs, we have worked hard to ensure that this is as
low as possible. For 2023-24, we have spent £112k on core management costs, and oncè taken into
account project fees, this results in a nel cost of 50k. In tems of governance costs, this has been £45k in
202&24, compared to £42k In th8 previous year.
Dellvèrln
Good Goveman
In temis of governance, the Board of Trustges met throughout the yèar. and made a number of key
decisions. Here are just a few ofthem-
In May 2023. the Board agreed a detailed Flnancial Plan for 2023-24, along with Key Actions &
Activities and an associated Risk Assessment.

CASTLE CAVENDISH FOUNDATION
IA company IlmSted by guarante0}
TRUSTEES, ANNUAL REPORT
ANNUAL REVIEW
conllnuod
In August 2023. the Board reviewed the prcoress and perfomiance in the quarter 1 period.
In September 2023, the Board approv6d the Draft Consolidated Accounts & Trustees Report for
2022-23, and agreed a Business Plan for Haydn Road.
In November 2023, the Board reviewed progress and perfomance for the quarter 2 pèriod.
In November, Castle Cavendish held its Annual General Meeting, where the Charity's Company
Accounts were passed, following the Audit by Rogers Spen¢er.
In January 2024, the Board considered its future options for delivering its charitable objectives.
and reviewed the progress and performance in thè quarter 3 period.
In March 2024, the Board agreed an outline financial plan for 2024-25.
Ensurln
Com
Castle Cavendlsh has m81 all Its repo￿ng r8qulr8m8nts, Includlng its audited Company Account &
Financial Statement through lo Companies House, ils Annual Report through to the Charfty Commlsslon,
and Grant Claims to extemal funding bodies. such as Nottingham City Council.
Goln
Forward:
As we progress through these challenglng times, Castle Cavendlsh's tradlng actlvltl8s has managed to
improve its occupancy levels to close to pre-pandemic levels and increase its revenu8. However, its cost
base has increased significantly ovar th8 last f8w years, partly due to increasing energy costs. That sald,
It is still posting a reasonable profil, and is likely to increase thèsè profits now an uplift in charg8s has
been agreed. As in previous years, this profit is transferred (via a dividend) to support Castle Cavendish's
charitable activities.
Th8 net proceeds from our tradlng actlvities comblnes with our extemal grant income to fund our charftsble
activities. Previously, this has been focused on ¢o-ordlnating and distrfbuting grant to local VCS groups.
Howevèr, from April 2024 a malor sourc8 of funding from Nottingham City Council - the Area Based Grant
- has been withdrawn. Fortunately, our successful management of the HAF programm8 over recent years
has paid divldends wlth Castle Cavendish awarded fundlng of £131 k to deliver a HAF programme In 2024.
With the removal of a major source of fundlng. the Board of Trust888 has revlewed Its future 'op8ratlng
model,. It has agreed to transition from a 'grant distribullon, approach to a direct provision role, in line with
the prionlies of funders. In effect, this will translate into a business plan that will see Castl8 CavendSsh
chang8 its approach and deliver more of an 'Sn-house' Community Progr8mme, whilst continuing to
distribute grant, where appropriate. to local community partners.
The intention is to fund this new Communlty Programm8 through the HAF progrdmme, alongside
successful bids from the National Lottery Heritage Fund. National Lottéry Community Fund and other, yet
to be identified, funding sources. Thè Community Programme will be delivered primarily at Haydn Road
Pavilion & Sports Ground with som8 work taking place at Forest Fields Play Cenlre, and will focus on
C&YP provlslon, supportlng marginalis8d groups and delivering heritage-based a¢tivitl8s and 8V8nts.
It has been recognised that there will be a level of risk attached to this approach, as only a proportion of
the funding has currently been secured. However, this 1$ mitigat8d by the flexibility of the scope and scale
of the proposed approach which, at best, could well be circa. £120k, but could easily be scaled down to a
morg realistic £1 Ook, but will be much less in magnitude than in previous years.
With a reduced budget and a change in operating model, it is inevitable that staff changes needed to be
made. Following a staff review. a restructuring took place that ensured we are now more streamlined than
previously, with the focus on 6nsuring we have the right capacity and capabililies to manage our expanding
property base and deliver the Community Programme.
As we plan for 2025126, our primary aim is to continue to effectively and efficlently manage our property
baso, through our trading am, with the intention of generating a net retum of al least 6 /4, whilst al the

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guaranlee)
TRUSTEES, ANNUAL REPORT
ANNUAL REVIEW
contlnuad
same time develop a Community Programme that releases the full potential of the Haydn Road Pavlllon
& Sports Ground. In regards the latter, we already have secured Heritage Lottery Funds to 6xplore. record
and celebrate the sltss history and heritage, and we anticipale accessing HAF funding once again in 2025
to support holiday activity sessions. More importantly, 2025126 should see our déveloping relationship
with Sport England pay dividends, and lead to further funding to support the renovation and gnhancement
of the Pavilion, as well as delivering sossions for marginalised groups. Overall, a programme worth approx.
£250k is estimated.
PAY POLI
NIOR
TAFF
The Board ofTrustees and the senior management team comprise the key managèmènt personnel ofthe
Charity in charge of directing, controlling mnnlng and operating the Foundation on a day-tt>day basis. All
Trustees give their lime freely and no Irustee rec8lV8d ￿muneratIon in the year. Details of Trustees,
expenses and related paty transactions are disclosed in note 15 to the accounts.
The pay of senlor staff is r8vlew8d annually and nomially Increased In ac¢ordance with average eamlng8.
In vlew of the nature of the charlty, the trustees benchmark agalnst pay18vels in similar sectors.
10.
ISK MANAGEMEN
The Tru8t8e8 have a risk management 8trat8gy which comprises:
an annual ￿VIeW of the prfnclpal rlsks and uncertainties that the Charity and its subsldlary Castle
Cavendlsh Limited face,.
the establishmènt of pollcies, 8yStems 8nd procedures to mltigate th08e risks Id8ntlfied in the
annual review. and
the Implementation of procedures designed to mlnSmise or manage any polentlal impact on the
Charity should those risks materiali88.
This work has Identified that financial sustainabillty is the major financial risk for both the Charity and its
subsidlary. A key element in the management of financlal risk is a regular review of avallable liquid
funds lo settle debts as they fall du8, regular liaison with the bank, and actSv8 management of trad8
d8blors and credltor ba18nces to ensure sufficient workSng capital by the Charity and Its subsidiary
company.
RESERVE
Ll
The Charfty holds a general reserve from income r8cèlved in previous years, along with Income generated
from its trading subsidiary and donat8d through. It has th8 ability to use these reserves each year to
contribute to investments, grants and the running of the organisation, In line with the Charity's Reserye
Policy.
As of 3111 March 2024, the organisation's Current Ass6ts are made up of'Deblors' (£107k) and 'Cash in
Bank, (£91 k), amounting to £199k. This is offset by Liabilities (falling in one yearl of £189k. The approved
Reserves Policy identifies that, under the current circumstances, the eslimated level of resernes should
be at least £1 Ook. and action is being taken to increasa current assets and reduce our liabilitl8$, thereby
increasing our level of reserves.

CASTLE CAVENDISH FOUNDATION
{A company Ilmlt8d by guarantee)
TRUSTEES, ANNUAL REPORT
12.
TRUSTEE INDUCTION & TRAINING
New Trustees are provided with a Trust86 Handbook, and undergo an orientation process to brief them
on the Charity and their role as a Trustge, in¢luding-
legal obligations under Charity and company law;
the content of the Memorandum and Articles of Association;
the committee and dacision-maklng process.,
the latest business plan., and
the performance of the Charity.
Trustees are encouraged to attend appropriate extemal trainlng 8V8nts wh8r8 th888 wlll facilltste th8
undertaking of their role.
13.
RELATE
PARTIE
In 2023-24. C8Stle Cavendish had a strategic relationship with Nottingham Clty Councll, as the main
fund8r of the ABG Programmè. From an opèrational polnt of vlew, M had contractual relationship, through
grant agreements, with 30 VCS groups.
14.
TATEMENT
FTR
TEE
'RE
IBILITIE
The Trustees (who ar8 also directors of Castle Cavendlsh Foundatlon for the pu￿seS of company lawl
are responslble for preparing th8 Truste8s' R8POrt and the financial statements in accordance with
applicab16 law and Uni18d Kingdom Accounting Standards (United Kingdom Generally Acc8Pted
Accounting Practice).
Company law requires the Twstees to prepare financlal statements for each ffinanclal year, whlch glve a
true and fair view of the state of affairs of the charitable company and of the incoming resources and
applicatlon of resources, Includlng the incom8 and expenditure, of the charitable company for the year. In
preparfng financial statements, th8 Trust8es 8r8 required to:
select suitable accounting policies and then apply them conslslentty;
observe the methods and principles in the Charities SORP FRS 102;
make judgements and estimates that are reasonable and prudent.,
state whether appIl￿ble UK accounting standards have been followed, subject to any matedal
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concem basis unless it Is inappropriate to presume
that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with r8asonabl8
8ccura¢y at any lime the financial position of the charitabl8 company and enable them to ensure that the
finanGial statements comply with the Companies Act 2006. They are also responsible for safeguarding
the assets of the Charitable company and hence for taklng r8asonab18 Steps for the prevention and
detection of fraud and other irregularities.
In so far as the TNstees ar8 aware:
there is no relevant audit infomation of which the charitable cornpany'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 infornation and to establish that the auditor is aware of that information.
10

CASTLE CAVENDISH FOUNDATION
{A Gompany Ilmlted by guarantee)
TRUSTEES, ANNUAL REPORT
14.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
contlnued
The Board of Truste8s adopted thè Charity Govemance C(Kle in October 2018. Thls sets out seven key
principles of good gov8mance:
1. Organisational Purpose..
The Board is clear about the charity's alms and ensures that these are being dellvered 8ff8¢tively
and sustsinably.
Lead8rshlp'.
The Board provldes effective, strategic leadershlp in Ilne with the charity's aims and values.
Inlegrlty:
The Board acts wlth Integrfty adopting values and Crea￿ng a culture which help achleve the
organisalions charltable purposes. The Board is aware of Ihe importance of the public's confidence
and trust in charities, and Trust8es undertake their duties accordingly.
Decislon-maklng, rfsk and control-.
The Board makes sure that its d8¢ision-making process8s are infonned, ￿orouS and timely and
that effectlve d8legation, control and rfsk assèssment and managèment systems are s8t up and
monrtored,
808rd effectivenegs:
The Board woths a$ an effectlve team, uslng the approprlat8 balance of 8k1118, exp8rlén¢e,
backgrounds and knowl8dge to make infomi8d d8ci$lon$.
D5versity:
The Board's approach to diversity support8 Its effectivene88,18adership and d8clsion-making.
7. Openness and a¢¢ountabillty'.
The Board leads the organisation In b8ing transparent and accountable. The charity18 OP8n in its
work, unless there is good reason for il not to be.
15.
DITOR
A rèsolution will be proposed at th8 Annual General Meeting that Rogers Spenc8r be re-appointed as
auditors to the charity for the ensuing y8ar.
Approved by the Board of Trustees on 13 November 2024 and signed on Its behalf by
Shoalb Khan
Chalr of Trustees
li

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
CASTLE CAVENDISH FOUNDATION IA company Ilmlted by guarantee)
Independent Audltor's Report to the member8 and Trust8e8 of Ca8110 Cavendlsh Foundatlon (a company
Ilmlted by guarantM}
Oplnlon
We have audited the financial statements of Castle Cavendish Foundation (the 'parent charilable company,) and
its subsidiary (the 'group'l for the year ended 31 March 2024 which comprise the group stat6m8nt of financial
activlties, the group and parent charitsble company balancè shèat. the group cash Ilow statemènt and notes lo the
financial sL9tements, includlng a summary of slgnlficant accountlng policles. The financlal reportlng framewoth that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard 8pplicable in lh8 UK and Republic of Ireland
(United Kingdom Generally Accept8d Accounting Practice).
In our opinion the financlal statsments..
give a true and falr vl8w of the state of the group's and pa￿nI ¢haritable company's affairs as at 31 March
2024, and of the group's incoming resourc88 and appllcation of resources, Including Its Incom8 and
expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accept8d Accountlng Practlce:
and
have been pr8par8d In accordanc8 wlth the requlrements of the Companles Ad 2006 and the Charities Act
2011.
Bas18 for oplnlon
We conducted our audit in accordance wlth Intemauonal Standards on Audlting (UK) IISAS {UK)) and applicable
law. Our responsibilities under Ihose stsndards ar8 further described in the Audilols responsiblllties for the audit
of the financial statements section of our report. We are independent of the group and parent charitable company
In accordance with the elhi¢al requirements that are relevant lo our audit of the financial stalemenls in the UK,
Includlng the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in 8ccor(lance wlth
th888 requirements. We belleve that the audlt evidence we have obtsined is Sufficient and appropriate to provlde
basis for our opinion.
Matorlal uncertalnty relatlng to golng concern
In audlting the financial stat8m8nls, w8 have concluded that the tmstee$' use of the going concem basis of
accounting In the preparation of th8 financial slatem9nls is appropriate.
We draw attention to Note 1 in the flnanclal statements, whlch Indlcales thal the charftable group incurred a deficit
of £76,038 during the year ended 31 March 2024 and, as of that date, the charitsble group's current net assets
were £9,647, with free reserves of1£8,972). As stated in Note 1, these events or conditions, along with other
matters as set forth in Note 1. indicate that a material uncertainty exists that may cast significant doubt on the
charitable group's ability to continue as a going concem. Our opinion is not modified in respect of this matter.
Our responslbilitl88 and the responsibillties of the trustees with respect to going concem are described In th8
re18vant sections of this report.
Emphasls of matter
As mentioned within the Inveslments note (note 81, the long-tenn investment properties, which rèpresent 97Q/o of
fixed assets and 860/0 ofgross assets, have been valued by the Trustees as at 31 March 2024. The last professional
valuation was undertaken by Savills in 2013.
We do not modify our opinion with regard to this matter.
12

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
CASTLE CAVENDISH FOUNDATION (A company Ilmlted by guarantee)
Other Infomiatlon
The other information comprises the information included in the trustees, annual report, other than the financial
stalements and our auditorfs report thereon. The trustees are responsible for the other infonnation contained within
thè annual report. Our opinion on the financial statements does not cover th8 Other infornalion and, except to the
extent otherwise explicitly stated in our report, we do not express any fomi of assurancè conclusion thereon. Our
responsibility is to read the other infomation and, in doing so, consider whether the other inforniation is materially
inconsistent with the financial statements or our knowledge obtsined in the course ofthe audit or otherwise appears
to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we ar8
required to detemiine whether this gives rise lo a material misstatement in the financial statements themselves. If,
based on the work we have perfonned, we conclude that there is a material mi8St8tement of this other infomatlon,
we are required to report that fact.
We have nothlng to rèport in this regard.
Oplnlons on othar matter• pr•8crlbod by the Companles Act 2008
In our opinlon. based on th8 work undertaken in the course of the audlt..
the infomiation glv8n in the trustees, annual report lincorporatlng the directors, report) for th8 flnanclal year for
whlch the financial statements are prèpared is conslstent with the financlal statements; and
the trustees, annual r8POrt has been prepared In accordance wlth appllcable legal r8qulr8m8nts.
Matters on whlch w• ar• roqulrod to r•port by axcèptlon
In the Ilght of our knowledge and und8rstandlng of the group and par8nt charitsblg company and Its 8nvlronment
obtalned In the course of the audlt, W8 have not Identified material mlsststement$ in the trustees, annual report.
We have nothing to r8POrt In respect of the followlng matters in relation to which the Companles Act 2006 and the
Charities Act 2011 requires us to report to you If, in our opinlon..
adequate accountlng records have not b88n kept by the parent ch8rltable company, or relums adequate for
our audlt hav8 not been recelv8d from branches not vislted by u$., or
the parent charitable company's financial statements are not in agreem8nt wlth the accountlng records and
retums; or
certain disclosures of dlrectors, remuneratSon speclfied bylaw are not made; or
we have not receiv8d all the information and explanations we require for our audit., or
the trustses were not entitled to prapare the financial ststements in accordance with the small companles,
reglm8.
13

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
CASTLE CAVENDISH FOUNDATION (A company Ilmltad by guarantee)
Responslbllltles of truslees
As explained more fvlly in the trustees, responsibilities statement set out on pag8s 8 & 9, the trustees (who are
also the directors of the charitable company for the purposes of company lawl are responsible for the preparation
of the financial statements and for being satisfied that they giv8 a true and fair view, and for such internal control
as the trustees detemiine is necessary to enable the pr8paration of financial statements that are free from material
mlsstatement, whether due to fraud or 8rror.
In preparing the financlal statements, the tru8t8es are responsible for assessing the group's and parent charitsble
company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and
using the going concem basss of accounting unless the trustees either intend to liquidate the group or the parent
charitable company or to cease operations, or have no reelistic altemativa but to do so.
Audltor's ro8pon8lbllltles for Ihe audll of tho flnanclal statements
We have been appolnted auditor under the Companies Act 2006 and 88Ctlon 151 of the Ch8rlUes Act 2011 and
report In accordance with thos8 Acts.
Our objectlves are to obtain reason8ble assurance atK)Ut whether the flnanclal statements as a whol8 arè fr88 from
material misstatgment, whether due to fraud or error. and lo issue an auditor's report Ihat includes our opinlon.
Reasonable assurance is a hlgh level of assurance but is not a guarant68 that an audit conducted in accordance
with ISAS {UKI will always d8tect a mat8rtal mlsstatement when It exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably b8 8xp8Cted to Influence
the economic decisions of users taken on the basis of these financial statements.
I￿gUlaritIeS. induding fraud, are Instances of non-compllance wlth laws and r8gulation8. We d88ign procedur88
In lin8 wlth our responsibilitSes, outlined above, to detect material misstatements in respect of irregularilies,
Including fraud. The extent to vthlch our procedures are capable of detecting irregularities, including fraud is detailed
below.
The oxtsnt to whlch tho audll wao con8ldorod capablo of detectlng Irr•gularltl•8 Includlng fraud
Our approach to identlfying and assessing the rfsk of matedal mlsststement In respect of irregularities, includlng
fraud and nonrycompliance with laws and regulations, was as follows..
The engagemènt partner ensured that the engagement team colleclively had the appropriate
competence, capabililies and skills to identify or ￿cOgnIse non-compllanc8 Wlth applicab18 laws and
r8gulations'
We identified the laws and regulations applicable to the group through dlscusslons wlth trustees and
other management, and from our knowledge and experience of the charity sector and grant providers.
We focused on specrfic laws and regulations whi¢h we considered may have a dlrect material effect on
the financial statements or the operations of the group. including the Companies Act 2006, taxation
legislation and data protection, antl-bribery, employment, environmental and health and safety legislation-
We assèssed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting18gal correspondence. and
Identified laws and regulations were communicated within the audit t88m r8gularfy and the team
remained alert to instsnces of non-Gompliance throughout the audit.
We assessed the susceptibility of the group's financial stst8m8nts to material misstatement, including obtaining an
understanding of how fraud might occur, by:
Making enquiries of manag8m8nt as to where they considered there was susceptibility to fraud, thoir
knowledge of actual, suspected and alleged fraud;
14

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
CASTLE CAVENDISH FOUNDATION (A company Ilmlted by guarante8)
Considering the intem81 controls in place to mitigate risks of fraud and non-compliance with laws and
regulations. and
Understanding the design of the group's r8mun8fatlon poll¢les.
To address the risk of fraud through management bias and override of controls, we:
Perfomed analytical Pr￿edureS to identify any unusual or unexpect6d r8lationship3',
Tested loumal entries lo Identify unusual transactlons.,
Assessed whether judgements and assumptions mad8 In detsmiining the accounting estimates set out
in note 2 V￿re indicative of FQtenlial bias; and
Investigated th8 rational8 b8hlnd significant or unusual trdnsactions.
In respon88 to th8 rlsk of Irregularities and non-compliance wlth laws and regulations, we designed procedur88
whlch Included, but were not limited to:
Agreelng financlal statement disclosures to underlylng 8UPPOrtlng documentation;
Reading the minutes of meetings of thos8 chargèd with govemance;
Enquiring of management a$ to actual and polential litigation and claims,. and
Reviewing correspondence wlth HMRC, relevant regulators and the company's lagal advisors.
There are inherent limitstions in our audit procedu￿$ described above. Th8 more removed thal laws and
regulations are from financial transactions, the less likely It is that we would become aware of non-compliance.
Audlting standards also limit the audit procédures required to identify non-compliance with laws and regulations to
enqulry of th8 trustees and other management and the inspection of regulatory and legal correspondence, If any.
Material mlsstalem8nts that a￿Se due to fraud can be harder to detecl than thos8 that arise from error as th8y may
Involve deliberate concealm8nt or collusion.
A further descrlptlon of our responsibilitles for the 8udit of the financlal statements is located on the Flnancial
R8POrting Council's websit8 at: www.frc.org.uklaudltorsresponsibilities. This description forms part of our auditor's
report.
Use of our r•port
Thls report is made solely lo the company's members, as a body, In accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members thos8
matters w8 are required lo ststè to them in an audilorfs report and for no other purpose. To the fullest extent
p8mitted by law, w8 do not accept or assume responslblllty to anyone olher than the company and the company's
members, a$ a body, for our audlt work. for thls r8POrt, or for the opSnlons we have fomed.
Dato
Melvln Balloy FCCA DChA (Sonlor Statutory Audltorl
For and on b•h8lf of Rogers Sponcer
Chartered Certlfled Accountsnt
Statutory Audltor
Newstead Hou8•
Pelham Road
Nottlngham NG5 1AP
Rogers Spencer is 811gible to act as an auditor In tenns of section 1212 of the Companies Act 2006
15

CASTLE CAVENDISH FOUNDATION
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST MARCH 2024
Totsl
2024
Total
2023
Nol•
Unrestrlcted Ro8trlctad
INCOME AND ENDOWMENTS FROM
Income from charitablè acb'vitSes-
Grants receivable
38
423
18
Income from trading actlviti8S'.
Rent and room hire
Other propety income
SeNice charges
Other grants receivable
507,762
100,881
61.260
507,762
100,881
61,260
464,971
104,831
46,498
TAL INCOME
669 903
423 305
EXPENDITURE ON
Raising fijnds
Charitsble activitigs
4a
4c
3,294
3,294
12,215
TOTAL EXPENDITURE
24
85006 1 169246
NET INC
ME
EXPENDIT
RE
BEF
TRAN
1114,337)
38,299
176,038)
56,155
Transfers betsveen fund8
44
NETM
VEMENT IN F
NDS
(15.891)
(60.147> 176,038)
56.155
Fund b8lanc88 brought foNard
ND BALANCE
ARRIED F
RWAR
The consolidated ststement of flnancial activities contsins all the gains and Ioss88 recognls8d in current and pr8ViOUS
period.
All actlvitles are contlnuing activitl88.
Th8 notes on pages 19 to 36 form part of these financial statements.
16

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantèe)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31ST MARCH 2024
PRIOR YEAR ONLY:
Tolal
2023
Note
Unrn$trlctod
R8$trlcted
IN
OME AND ENDOWMENTS FROM
Income from charilable activities:
Grants r6C8ivable
3b
Income from trading activities:
Rent and room hire
Other propety income
Service charges
Other grants recelvabl8
464,971
104,831
46,498
464.971
104.831
46,498
616
TOTAL INC
518 303
EXPENDITURE
Raising funds
Charitable activities
4b
4d
12,215
12,215
TAL EXPENDIT
12
ETIN
OMEI
EXPENDIT
RE
BEFORE TRANSFER
3.938
52,217
56,155
Transfers be￿een fund8
MENT IN F
ND
3,938
52,217
56,155
Fund balanc88 brought lorward
FUND BA
ARRIE
RWARD
All activit188 are Continuing activltles.
Thè notes on pages 19 to 36 fom part of these financial stat8ments.
17

CASTLE CAVENDISH FOUNDATION
(A company Ilmltod by guarantee
CONSOLIDATED BALANCE SHEET AS AT 31 ST MARCH 2024
Noto
2024
2023
FIXED ASSETS
Tangible fixed assets
Investments
7a
48,682
548
48,458
1,596,734
1.596,510
URRENT ASSETS
Debtors
Cash at bank and In hand
107,809
105,448
199,427
228,387
IABILITIES: Amounts falling due within one year
10
NET CURRENT ASSETS I
LIABILITIE
64
TALA
SET
LE
URRENT LIABILITIE
1,606.381
1,694.061
IABILITIES: Arnounts falling due after ffl0￿ than
one year
78
NET ASSETS
FUNDS
Unre8trlctod
General fund8
13
1,500,084
1.515,975
Rostrlct•d
12
Total funds
The financial ststements are pr8pared In accordanc8 With the provisions applicable to companies subject to the small
companl8s r8gime wlthln Part 15 of the Companies Act 2006.
Approved by the Board of Trustees on 13 Nov8mb8r 2024 and signed on its behalf by
Shoalb Khan
Chalr of Trustses
Company Number 04209702
The notes on pages 19 to 36 form part of these financial statemènts.
18

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guaranté•)
BALANCE SHEET AS AT 31 ST MARCH 2024 (CHARITY ONLY)
Note
2024
2023
FIXED ASSETS
Tangible fixed assets
Invèstmgnts
7b
18.766
20,404
1548 152
1,566,918
1,568,556
CURRENT ASSET
Debtors
Cash at bank and In hand
54,301
104,096
43
72,691
147,129
LIABILITIES: Amounts falllng due wlthin one year
10
628
NET
RRENT ASSETS
LIABILITIES
TALA
ET
ESS CURRENT
IABILITIES
1,599.981
1,687,661
LIABILITIE
one year
Amounts f811ing due after more than
87
32
NET ASSETS
ND
Unrèslrlclod
G8néral funds
13
1,493,684
1.509,575
Re8trfeted
12
Total funds
As pe￿itted by s408 of the Companies Act 2006, the parent charltablo company has not presented Its own statement of
financial activities and related notes. The parent charitable company's deficit for the year was £76,038 (2023.. £56,155).
The financlal statements are p￿pared In accordance with th8 provlsions appllcable to companles subject to the small
companies regime within Part 15 of the Companies Act 2006.
Approved by
h Boar(l of Trustees on 13 November 2024 and signed on its behalf by
Shoalb Khan
Chalr of Trustees
Company Number 04209702
The notes on pages 19 to 36 forn part of theso financial statements.
19

CASTLE CAVENDISH FOUNDATION
IA company Ilmltod by guarantee)
CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024
Not•
2024
2023
Cashflows from operatlng actlvltlgs
Cash generated froml{absort)ed by) operations
Interest paid
18
1,032
62,902
Net cash (oufflowl Ilnflow from opgrallng
actlvltl88
81
Investlng actlvltles
Purchase of tangible fixed ass8ts
Net cash (u8•dl Irac•lvad In Inv8stlng
actlvStles
Flnanclng actlvltles
Repayment of bank loans
Net cash Iu8edl Irocolvod In flnanclng
actlvltle8
Net Increa801{docrnaso) In cash and cash
equlvalènt•
(31,321>
34,400
Cash and cash equivalents at beginning of the
year
122
Cash and cash oqulval•nt8 Ot ond of yoar
20

CASTLE CAVENDISH FOUNDATION
(A company Ilmltod by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING P
LICIES
Basls of accountln
The charity constitutes a public benefit enlity as defined by FRS 102. The charfty Is limiled by guarantee and was
incorporated in England & Wales. 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
accordanc6 With the Financial Reporting Stsndard applicable in the UK and Republlc of Ireland IFRS 1021, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charities Act
2011, the Companies Act 2006 and UK Generally Accepted PractlC8 as it applies from 1 January 2015.
The financial 8tatem8nts a￿ prepared in sterfing which Is th8 functional currency of th8 charfty 8nd rounded to the
nearest £1.
The slgnlficant accounting pollc18$ applled In the preparation of these financial statements are set out below. These
pollcles have been conslst8ntly applled to all years presented unless othefwlse stated.
Ball8 of c
tlon
The consolidated financial ststernents include the ffinancial 5tstements of th8 parent charitabl8 company and Its
sub8idiary company Castle Cavendish Limited.
Goln
con
The financial statements are pr8pared on a golng concem bas18 under the historical cost convention, modified to
include certain items at falr value.
The charltab18 group incurred a deflcll of£76,038 durfng the year ended 31 March 2024 and, as ofthal date, the
¢haritsble group's Current nel ass8ls We￿ £9.647, with free reserves of1£8,972}. This combined with the loss of the
local authority grant has resulted In a restricted cash flow which is monitored on a daily basis.
As mentloned above, although th8 Charitsble Group has praviously drawn upon grants from the Local Authority and
other potential funders, it equally has generated a significant amount of income {61 •/ol through Ils trading subsidiary.
As grant income reduces in 2024125, and trading actlvities contlnue to expand, It Is antlcipated that this figure will
Increa88 to over 70%.
The trading activit188 of the Group is therefo￿ becoming more and more important. Focused on flexible workspace
opportunities at both Castle Cavendish Woths and Castse Cavendish Enterprise Cenlre. along with retail and offic8
space at Alfrelon Road Shopping Parad6 and Tennyson Hall, the demand for worksp8ce held by Castle Cavendish
Is contirbuing to b8 buoyant. Moreover, its management of Haydn Road Pavilion & Sports Ground and Forest Fields
Play Centre fits in to the developing ag8nda around health and wellbeing and support for marginalised groups. With
User Agreements in place and funding secured, It is antiGipated that th8se sites will not just be the key delivery sites
for a new Community Programme and the way we can deliver its charitable objects, but will also ensur8 a reasonable
lev81 of revenue generatsd for the trading subsidiary.
In May 2024, the Board of Trustees approvèd a Financial Plan for 2024-25 whlch incorporates a trading income and
8xpenditure forecast that results in a projected net profit of £50k, alongside a reduced Community Programme,
directly facilitated by the Group. Although all the exlemal funding to support this new Community Programme has not
been securèd as yet, the approach is deS￿n8d to be able to sca18-up or scale4own so as to reduce the level of risk.
As prèviously not8d, if the trading subsidiary matches up to optimum levels in 2024-25, and Ihere is no reason why
this should not be achieved gtven the current trends, then trading profits wlll ensure that the govemance costs and
management r8sponsibilities for the Group will be prop8rfy supported on an ongoirwJ basis.
In 2025126. the aim of Castle Cavendish is to continue to effectlV81y and efficien￿Y manage its propety base through
its trading ami, with the intention of generating a net retum of at least 6%, whilst at the same time develop a
Community Programme that releases the full potential of the Haydn Road Pavilion & Sports Ground. In regards the
latter, Heritage Lottery Ftsnds have already been s8cured and it is anticipate that HAF funding will once again be in
place to support holiday activty sessions. More importantly, 2025126 should see the developing relationship with
Sport England pay dividends, and lead to further funding to support the renovation and enhancement of the
21

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES
contlnuod
Pavilion, as well as delivering sessions for marginalised groups. Overall, a programme worth approx. £250k is
estimated.
Fund accountin
General funds are unrestricted funds whlch are available for use at the diScre￿On of the Trustees In furtherance of
the general objeclives of the charity and which have not been designatod for other purposes.
Designated funds compris8 unr8Strict8d funds that have been set aside by the Trustees for partlcular purposes. The
aim and use of each designated fund is s8t out In the notes to the financial stalements. Restricted funds are funds
which ar8 to be used in accordance with specific restriction imposed by donors or which have been raisèd by th8
charity for particular purposes. The Cost of raising and administering such funds are charged against the specific
fvnd. The aim and us8 ofeach restricted fund is set out in the noles to the financlal statements.
Restricted funds represent grants, donations and legacies recelved whlch ar8 allocated by the donor for speciflc
purposes.
Incomo
All income Is Included in the SOFA when the charity Is legally entit18d to th8 income, any perfonnance condltions
attached to the items of income have been met, It Is probable that the income will be received and the amount Can
be measured reliably.
Income from govemm8nt and olher grants, whether'capitsl, granls Or.￿VenUe grants., Is recognised when the charity
has entitlement to the funds, any perfomiance Gonditions attached to the grants have been mel, it is probable that
the income will be received and the amount can be measured reliably and is not defe￿ed.
Glfts In klnd donated are included al valuation and recognised as Income when they are dislribuled to the projects.
Gifts donated for resale are included as income when they are sold. Donated facilities are included at Ihe value to the
charity where this Can be quantified and a thlrd party is bearing the cost. No amounts are Included In th8 financlal
statements for services donat8d by volunteer8.
All capital grants rec8iv8d in r88P8Ct of any depreciated assets are credrted to deferr8d Income and amortlsed to the
profit and1088 account over the useful economic life of the assets to which they relate.
Interest on funds h81d on deposlt Is Included when receivable and the amount can be measured rellably by the charity.
thls is nomally upon notification of the interest paid or payable by th8 bank.
ndl
and Irracovorable VAT
All expenditure is accounted for on an accruals basis and has been classified under headings that agg￿gate all costs
related to the category. Where costs cannot b8 directly attributed to particular headings they have been allocated to
activities on a basis consistent with the use of the resources.
Expenditure is r9cognised onc8 there is a 16gal or construclive obligation to mak8 a paym8nt to a thlrd paty, it18
probabl8 that settlement will be required and the amount of the obligation can be measured reliably. Expenditure Is
classlfied under the following activity headings:
Costs of raising funds ¢omprfs8 the promotional costs to the charity.
Expenditure on charitsble activities includes all costs undertaken to further the purposes of the charity and
th8ir associated support costs. induding Gosts of govem8nc8.
Irrecoverable VAT is charged as a cost against the acllvity for which the expenditure was incurred.
The Trust is a registered Charity and is exempt from taxation. Its subsidi8ry company. Casle Cavendish Limited. Is
liable to corporation taxation on its profits however. Any tax incurred is ¢harged to resources expended.
22

CASTLE CAVENDISH FOUNDATION
(A company limlted by guaranlee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES
contlnuèd
Flxed assets and de
reclatlon
Tangible fixed assets are statod at the lower of cost less accumulated depreciation and valuation.
Depreciation 15 charged on a straight-line basis over th8 expected economic usefvl lives of the assets at the following
annual rates:
Computer equlpment
Flxturès, fittings, vehlcles and equipment
33 1130A straight line basls
159/0 straight linè basis
Invastman
ro
rt108
Investment property, which 18 property held to 8am r8ntsl$ andlor for capital appreciation.18 m8asur8d using the fair
valu8 model and stsled at its falr valu8 as thé reporting end date. The surplus or deficSt on r8valuatlon 1$ recognised
in the profit and loss account.
Where fair value cannot be achieved without undu8 ¢08t or effort, investment property18 accounted for as tangible
fixed assets,
DGEMENT
AND KEY S
UR
IMATI
N UNCERTAINTY
In the appllcation of the group's accountlng polici6S, the trustees are required to make judgements, estimates and
assumptions about th8 carying amount of assets and Ilabllities that are not readily apparènt from other sources.
The 88timates and associated assumptions are based on historical èxperience and other factors that are
consldered to be re18vant. Actual result8 may dlff8r from these e8tim8tes.
The estimates and underfylng 8ssumptions ar8 revlewed on an ongolng ba818. Revlsions to accounting 8slmales
are recognisad in the penod In which the estimate is revised where the revision affects only that period, or In the
period of the revision and future perlods whèrè the revision affects both current and future p8riods.
23

CASTLE CAVENDISH FOUNDATION
(A company IlmSted by guaranlee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
3a.
GRANTS RECEIVABLE
Unrestrlcted R8Strlcled
funds
fund8
Total
2024
Total
2023
Area Based Grent- Ar8a 2
Area Based Grant- Area 4
Area Based Grant- Area 5
Holiday Activity Fund
Community Vaccine Champions
NCC Ward Councillors Budget
The BeS￿oOd Partnership
116,891
96,259
84,587
111,143
3,990
10,435
116.891
96,259
84.587
111,143
3,990
10,435
134,520
110,776
97,344
117,243
45,000
3b.
GRANT
RE
EIVABLE
Prlor
Unrn8trlctod Restrlctod
fund•
funds
Total
2023
Area Basèd Grant- Area 2
Area Based Grant- Area 4
Area Based Grant- Area 5
Holiday Actlvlty Fund
Community Vaccine Champlons
Th8 BeS￿00d Partnership
134,520
110,776
97,344
117,243
45,000
134,520
110,778
97,344
117,243
45,000
42
RAISING FUN
Unrostrlcted Re8trfctad
funds
fund8
Total
2024
Advertislng and promotlon
294
4b. RAISING FUNDS
Prl
ar
Unr•8trfcted Reslrlcted
funds
funds
Total
2023
Adv8rtislng and promotion
24

CASTLE CAVENDISH FOUNDATION
(A company Ilmlled by guaranteo)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
CHARITABLE ACTIVITIES
Unrostrlcted
fund8
Restrlcted
funds
Total
2024
Total
2023
Staff costs
Repairs and maintenance
Premises secudty
Computer costs
Heat, light, water and telephone
Insurance
Motor and travel
PrintSng, postag8 and stslion8ry
Training
Service chargès
Legal and professional fe8S
Accountancy fees
Equlpm8nt188slng
Rent and rates
Sundry expgn8es
Bad debts
Bank charges
Grant payments (Note 41)
Loan interest
Govemance {Note 4el
Depreciation
Unrecoverable VAT
278,877
94,345
10,465
1,020
75,710
22,311
5,720
12.023
300
56,005
10,260
4,875
8,281
110,470
758
15,786
1,177
40,892
319,769
94,345
10,465
1,020
75,710
22,311
5,720
12,023
300
56,005
10,260
4,875
8,281
110,470
758
15,786
1,177
344,114
4,084
45,828
16,401
303,953
75.179
11,225
317
69,076
15,201
3,440
13,347
43,467
16.671
4,080
6,860
85.371
1.582
{12,290)
1,257
362,530
4,084
41,941
15,560
344,114
4.084
45.828
16,401
25
25

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarant8è)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
4d. CHARI
BLE ACTIVITIES
Unrestrlcted
funds
Restrlctod
funds
Total
2023
Staff costs
Repairs and maintenance
Premises security
Compul8r costs
Heat, light, water and telephone
Insurance
Motor and travel
Printing, postage and ststionery
Service charges
Legal and professlonal fees
Accountancy fees
Equipment18asing
Rènt and rates
Sundry expense8
Bad debts
Bank charges
Grant payments {Not8 41>
Loan interest
Gov8mance (Note 4Q
Depreciation
Un￿￿verable VAT
200,397
75,179
11,225
317
69,076
15,201
3,440
13,347
43,467
16,671
4,080
6,860
85,371
1,582
{12,2901
1,257
103,556
303,953
75,179
11,225
317
69,076
15,201
3,440
13,347
43,467
16,671
4,080
6,860
85,371
1,582
(12,2901
1,257
362,530
4,084
41,941
15,560
362,530
4,084
41,941
15,560
OVERNANCE
TS
Unrestrlctod
funds
R•strlcted
fund8
Total
2024
Tolal
2023
Staff costs
Audit fees
36.812
36,812
34,841
4f.
GOVERNANCE
TS
Prlor
oar
Unrnstrlcted
fund8
Re8trlctod
funds
Totsl
2023
Staff costs
Audit fees
34,841
34,841
26

CASTLE CAVENDISH FOUNDATION
(A company Ilmltod by guaranloe)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
4g.
TOTAL RESOURCES EXPENDED
2024
2023
Cost8 dlr•¢tly allocated to
actlvltles
staff costs
Advertising
Premises costs
Travel
Hlre of equlpment
Printlng, stationery etc
Dapreciation
Legal and professional
Bank chargès
Bad and doubtlul debt8
Grant payments
Unrecoverable VAT
Other costs
Direct
Dire
Direct
Direct
Dir8¢t
Direct
94.661
1,279
15,992
176
225,109
2.015
354.333
5,544
8,281
10,956
9,518
12,548
1.169
15.786
36,812
356,582
3,294
370,325
5,720
8,281
12,023
16,402
24,151
1,179
15.786
344,114
6,250
338,794
12,215
299,836
3,441
6,860
13,347
15,559
27,851
1,257
112,2901
362,530
3,381
1,067
6,884
2.587
10
Dirèct
Direct
Oir8Ct
9,016
Dlr8Ct
Direct
Direct
Dlr8
344,114
6,250
27

CASTLE CAVENDISH FOUNDATION
{A company Ilmlted by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
4h.
TOTAL RESOURCES EXPENDED
Prlor
oar
2023
Costs dlrectly allocatod lo
actlvltles
Staff costs
Advertising
Pr8mlse8 Costs
Dlrect
97,094
7,951
3,549
110
206,859
4,264
296,287
3.331
6,860
13,195
8,263
13,657
1,212
(12,290}
34,841
338,794
12,215
299,836
3,441
6,860
13,347
15,559
27.851
1.257
(12,290)
362,530
3.381
Direct
Direct
Direct
Direct
Direct
Travel
Hir8 of 8qulpment
Printing, stationery etc
Depre¢iatlon
Legal and professional
Bank charges
Bad and doubtful debts
Grant payments
Unrecoverable VAT
Other costs
152
Direct
7,296
7,094
45
Direct
Dir8ct
Direct
Direct
Dlr8Ct
Dlr8Ct
7,100
362,530
3,381
28

CASTLE CAVENDISH FOUNDATION
IA company Ilmlled by guarantoo)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
41.
GRANT PAYMENT
Grants were awarded to the following organlsatlons during th8 year..
2024
2023
Rastrlctod Grant•'.
Take 1 Studios
Signpost to Polish Succe88
Notts Club for Young P8opl8
The Lenton Centr8
Switch Up CIC
Greenfields Community School
Growing Forward CIC
Hyson Green Youth Club
Building Bridges Breaklng Barr6er8
East African Educatlon Centre
Chay8h Development Project
Communities Unlte
Freedom Foundation
Helping Kids Achlev8
8a$ford Rd Baptist Church
The Toy Library
Edwards Lane
Support Through Sport
Posltivèly Empowered Klds
Emp180
Notts County Football In the Communlty
Communlty Based Fltness
Sherwood Playgroup
Sikh Communlty & Youth Servlces
Quèan's Walk Community Association
The Vine Communlty Centre
5,540
8,500
16,063
5,950
7,940
600
1,600
17,000
7,180
3,000
5,525
1,476
2,500
5,352
200
94,516
1,925
7,180
12,600
10,450
4,180
7,960
9.525
9,300
8,000
3,000
9,205
5,000
750
62,615
2,100
19,100
4.700
4,415
6,400
1,900
595
2,500
8,450
22,342
4,625
5,700
Restrlct8d grants carded forward
233,164
184,295
29

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantee)
NOTE5 TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
41. GRANT PAYMENTS
contlnued
2024
2023
Restricted grants brought fO￿ard
233,164
184,295
Belong
Hoop Dreams Basketball Club
When Woman Gather
AJ Sports
Wild Things
Windmill Community Gardens
Women in Tandem
The Bridges Community Trust
The BeS￿00d Partnershlp
Djanogly Lettings
Vanclaron CIC
AKA Health Wealth & Oneness
St Aidan's Church
Nottingham Health & Education Centre
Nottinghamshire County Crickel Club
Nottingham For651 Community Trust
Trent Bridge Community Trust
Total Rostrlcted Grants
29,750
4,000
20,000
5,500
1,900
22,235
8,700
2.000
2,180
10,500
21.500
940
3,320
24.080
2,010
7,520
2.660
8,550
34,640
362,530
7,180
8,700
16,660
18,245
940
12,000
7,000
6,475
344,114
30

CASTLE CAVENDISH FOUNDATION
(A company Ilmlled by guarantoe)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
STAFF
OST
AND TRUSTEES REMUNERATI
Total
2024
Total
2023
Wages and salar18S
Social security costs
Pension costs
322,771
22.536
302,151
25.683
The number of employ88s whose annual r8mun8ration (staff costs and penslon contributlons) was £60,000 or
more were:
2024
Number
2023
Number
£80,001- £70,000
Av8ragè number of employees, calculated on a full-time equivalent ba818, analys8d by fiJn¢tion was:
Number
2024
12
Number
2023
12
Charltab18 activitie8
Govemance
Non8 of the Trustees recelved r8mun8ratlon during the ye8r.
No Truste8 exp8nses were Incurred in the year.
Remunerallon of koy management personnel
Remuneration of key management p8rsonn81 is as follows:
Total
2024
Total
2023
Aggregate compensatlon
TRUSTEES INDEMNITY INSURANCE
The charity paid £665 {2023: £465) durfng th8 y8ar In respect of indemnlty Insurance for Trustees.
31

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantee}
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
7a.
TANGIBLE FIXED ASSETS
Grou
Flxtur•8,
fittlng8,
vehlcles &
equlpment
Computor
oqulpmonl
Total
COST
Brought forward at 1 April 2023
Transfer to investment property
Additions
Disposals
At 31 March 2024
56,712
228,592
285,304
4,029
12,597
16,626
741
DEPRECIATIO
Brought forward at 1 Aprfl 2023
Transfer to investmént propety
Charge for the year
Eliminal8d on di8posa18
At 31 March 2024
54,251
182,595
236.846
1,858
14,544
16.402
24
NET BOOK V
At 31 March 2024
Al 31 March 2023
7b.
AN
XED AS
ETS
Charl
Flxtures,
flttlng8,
vohlcles &
•qulpm8nt
Computer
equlpmonl
Total
Brought forward at 1 April 2023
Additions
Dlsposals
At 31 March 2024
19,024
99,231
5,245
118,255
5,245
12
DEPRECIATION
Brought forward at 1 April 2023
Charge for the y8ar
Eliminated on disposals
At 31 March 2024
18,511
362
79,340
6,521
97,851
6,883
861
104 734
NET BOOK VALUE
Al 31 March 2024
At 31 March 2023
32

CASTLE CAVENDISH FOUNDATION
(A company Ilmltgd by guarantoe)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
INVESTMENTS
Group
2024
Group
2023
Charlty
2024
Charlty
2023
FIXED ASSET
Investment Propertiès:
Cosvvaluation blf
Additions
Disposals
Revaluations
Transfer to current assets
Cosvvaluation cjf
1,548,052
1,548,052
1,548,052
1.548,052
1,548,052
1,548,052
1,548,052
1,548,052
Sha￿s In Subsidiary Undertaking..
The properti08 wer8 last prof8881onally revalued by Savills in 2013. The Trustees b81i8V8 that ther8 would be
undue cost involved in attalnlng a further prof8sslonal valuation and have instead opted to valu8 th8 propgrties
themselve8 Indlvldually at open market value as at 31 March 2024.
The shares re18te to one hUnd￿d sha￿8(2023.. one hundred shares) of £1 In Castle Cavendish Llmlted
(company registration number 06113675) whlch Is a wholly owned subsldiary of Castle Cav8ndlsh Foundatlon
and the shares are ststed at cost.
DEBT
Group
2024
Group
2023
Charlty
2024
Charlty
2023
Trade debtors
Amounts owed from 8ub8idlary undertakln98
Other debtors
58,091
62,405
3,500
23,532
21,733
33

CASTLE CAVENDISH FOUNDATION
(A company Ilmlted by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Group
2024
Group
2023
Charlty
2024
Charlty
2023
10.
LIABILITIES: Amounts falling due Wlth one year
Trade creditors
Taxation and social security
Accruals and defe￿ad Income
Bank loans and overdrafts
Other ¢￿ditorS
84,100
8.028
62,078
12,041
53
37,428
12,020
47,656
11,559
19.565
772
7.250
12,041
9,193
772
6,500
11,559
Dgfeffed Income of £11,978 (2023.. £19,227118 Included within accruals and deferred income and
represents the amounts prepaid by tenants.
Group
2024
Group
2023
Charlty
2024
Charlly
2023
IABILITIE
11. ￿. Amounts falllng due after one year
Bank loan$ and overdrafts
Amounts included al)ov8 whlch fall due after five
years are as follow8:
Payable by instslrngnts
The bank loans and overdrafts are secured by way ofalegal charge dated 2 June 2016 over the Castle
Cavendlsh Works prop8ty and a debenture dated 25 January 2016 over all assets of the company.
34

CASTLE CAVENDISH FOUNDATION
{A company Ilmlted by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
12. RESTRICTED FUND
At 1 Aprfl
2023
At 31 March
2024
Income Exp•ndlturn
Transfers
Area Based Grant (Areas 2, 4 & 5)
Community Vaccine Champions
NCC Ward Councillors Budget
Holiday Activity Fund
68,061
9,185
297,737
3,990
10,435
272,432
8,075
10,435
(93,366)
(5,080)
RESTRICTED FUNDS
Prlor
ear
Al 1 Aprll
2022
At 31 March
2023
Income Exp•ndltur•
Tran8fors
Area Based Grant (Areas 2, 4 & 5)
Community Vaccln6 Champlons
Thè BeS￿00d Partnership
Holiday Activity Fund
26,549
342,640
45,000
13,420
117243
301,128
40,155
68,061
9,165
4,320
(13,420)
124803
Nottingham City Councll has provid8d grant fijndlng to ¢overAreas 2, 4 & 5's ABG Programmes that will fund th8
associated costs of delivering a range of community-b8sed activities that wll support chlldren & young p￿pIe,
train and support people into work, support the elderfy and most vulnerable, and support the growth and
development of the local communlty and voluntary sector.
mm
am
The Community Vaccin& Champlons fundlng was from Nottingham City Council with the aim of supporting the
delivery of innovative approaches to engaglng members of the communlty to increase the uptake of vacclnatlons
and to proactively address health inequalities.
The Be8twood Partn
hl
Throughout 2022-23 we developed and dellvered several lointly-funded proj8Cts In partnership wlth 8 fellow Area-
Lead Organisation, The Bes￿oOd Partnershlp. This work focused on supporting the Holiday Activity Fund
provision for children & young people, along with Jolnl Inltiatlv8s ￿lating to the Communlty Vaccine Champions
fundlng.
Hollda
Actlvlt Fund
This is a City-wide programme 8UPPOrted by the Department of Education's Holiday Activity & Food Programme,
which is almed at tackling child hunger during the school holSdays. Th8 programme is focused on providing free
activities and food for children in receipt of fre8 school meals and is delivered in partnership with Play & Youth
community partners.
NCC Ward Counclllor8 Bud et
This funding has come from the budget held by Ward Councillors of Nottingham City Council. It was award8d to
support additional youth provision in the Berridge and Shernood Wards and at the Edwards Lanecommunity
Centre.
35

CASTLE CAVENDISH FOUNDATION
{A company Ilmlted by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
13a. ANALY
F NET ASSETS BETWEEN FUNDS
General Restrlctod
funds
fund8
Total
RO
Tangibl6 ffixed assets and inve$tm8nts
Net currenl assetsl{liabllltl8s)
Long term liabilities
1,596,734
18,9721
1,596,734
9,647
87
78
18,619
CHARITY
Tangible fixed assets and investm8nts
Net current asselsllliabilities)
Long lem liabilities
1,566,918
14,444
1,566,918
33,063
18.619
13b. ANALYSIS OF NET A
ETS BETWEEN FUND
rlor
ear
General Re8trlct•d
fvnd8
funds
Total
GROUP
Tangible fix8d assets and investment8
Net current ass6tsl{Ilabillties)
Long tenn liabilities
1,596.510
18.785
1,596,510
97.551
78,766
HARITY
Tangible fixed assets and investments
Net current asselsl{liabilities)
Long term liabilities
1,568.556
40,339
1,568,556
119,105
78,786
14.
BSIDIARY COMPAN
The Charity owns the whole of the issued ordinary share ¢apltal of Castle Cavendish Limited, a company
registered in England & Wales, company number 06113675. All activities have been ¢onsolldated on a line-
by-line basis in the SOFA. Any total net profits will be gifted to the charity as and when the company begins
to make a profit. A summary of the results of the subsidiary is shown b610w'.
astle Cavondl8h Llmlt d
2024
2023
Income
669.905
616,300
Other income
Administrative expenses
620 362
Trading profft
Other op8fdting costs
25
Net operating profit
Distribution to charity ICCF)
Profit for period
36

CASTLE CAVENDISH FOUNDATION
(A company Ilmltad by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
14.
IDIARY COMPANY
contlnu
2024
2023
The aggr8gate of the assets. liabilities and funds was:
Asset5
LlabllSt18S
180.890
204,974
474
Funds (r8pr8s9nting 100 ordinary shares of £11
15. RELATED PARTY TRAN
ACTIONS
During the year, various transactions took place be￿88n Castle Cavendish Foundation and Castle Cavendish
Limited, a wholly owned subsidiary. There were also related paty transactions outside of the group.
Thè subsldiary Is a tradlng ami of th8 Charity and commerclally manages Its propety porffollo, recelvlng
income from property rentals, conference bookings, trainlng sessions and room hire, whSlst also a¢ting as
agent for the management of the ￿$t of the investment property portfolio.
At the balance sh86t dale £23,53212023: £21.7331 was owed from Castle Cavendlsh Llmlted to the Charity.
During the year, Castle Cavendish Limlted has donated profits lotalllng £24,239 (2023: £73,931). £24,239
12023: £73,931) of Ihls r8mains due to C8Stle Cavendish Foundation al the balance sheet date, in addition lo
the above amounts.
C Elder, on8 of the dlrectors of the 8ubsldlary, Is a partner at Browne Jacobson. Browne Jacobson provided
legal seNices to Castle Cavendish Limited but C Elder was not involved in the s8rvlces provlded. The servlc8S
provided during thè year totalled £nll12023'. £5,139).
Z Powers, who Is a trustee of Castle Cavendish Foundation, provides marketing seNl¢es through his busln8s8
Altennata. This company provided matheting support to Castle Cavendlsh Lirnlted and Castle Cavendish
Foundation during the year totslling £638 (2023.. £10,202).
16. FINAN
IAL COMMITM
NT
As at 31 March 2024. the company was committed to making the following paym8nts under non-canc8llable
operating leases relating io leased properties:
2024
2023
Operating leases which expire:
Within one year
Be￿88n two and fve years
In over five years
4,367
2,547
4,367
6,914
The above includès an annual charge payable of £63,885 on a 125-year lease to 8 October 2131 with
Nottingham City Council. The totsl amount payable is therefore £7m.
37

CASTLE CAVENDISH FOUNDATION
IA company limSted by guarantee)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
17. PENSION COSTS
Defined Contrlbutlon Schome:
The charity Operates a defined contribution scheme in rèspect of some stsff. The scheme and its assets are
held by Independent managers and contributions wère made from April 2016. Totsl contributions made during
the year were £11,274 (2023.. £10,960).
18. CASH GENERATED FROM OPERATION
2024
2023
Surplus l{Deficit) for the year
(76,038)
56,155
Adjustments for.
Interost paid
Depreciation of tanglb18 assets
4,084
16,401
4,084
15,561
Movem8nts In working capital:
Increase in debtors
Increase in crèditors
12,361)
58,946
{21,767}
8,869
Cash generated froml(absorbed by) operatlon8
1,032
62,902
38