REGISTERED COMPANY NUMBER: 06297341 (England and Wales)
REGISTERED CHARITY NUMBER: 1121941
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
THE PARTNERSHIP FOUNDATION

THE PARTNERSHIP FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Independent Examinerfs Report
statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
7 to 15

THE PARTNERSHIP FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their
report wth the financial statements of the charity for the year ended 31 March 2024. The trustees have
adopted the provisions of Accounts'ng and Repo￿"ng by Charits'es., Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and alms
The objects of the charitable company are..
a} Develop the capacities and skills of socialTy and economically excluded and disadvantaged groups and
individuals in such a way that they are better able to identify and help meet their needs and participate more
fully in society,. and
b) Promote for the public benefit urban regeneration in areas of social and economic deprivation.
The areas of benefit are the local authority areas of Portsmouth. Havant. Gosport and Fareham
Signrficant activities
During 2023124, the trustees continued to support families impacted by the high cost of living by giving a
further £50.000 directly to 20 foodbanks and pantries.
For the Partnership Foundation to achieve its objectives of helping people, families and communitr.es suffering
social and economic deprivats'on, rt depends on the valuable work of grassroots voluntary organisations who
provide a support network across the city and its surrounding areas. The past yearfs investment, of £113,315,
has built on existing partnerships with these organisations (who support disadvantsged groups across SE
Hampshire), The Foundation continues to support its Yrusted partners., who can deliver its own charitable
objectives, cost-effectively. During this year these 'trusted partners, have included the Roberts Centre
(£15,000), Aspex {£10,000), Motiv8 (£10,000) and Jacobs Well in Gosport (£10,000) This has helped direct
the Foundation's grant giving approach over a three-to-four-year period sustaining longer term projects and
helping to extend their reach arKI capacity.
The Foundation continued with its Community Projects Fund which offers small grants of £500. This year
there V￿re 22 projects receiving over £12.000 of grants befv4een them. The hyenty-￿0 recipients over this
year included voluntary organisations like Acts of Kindness in Gosport, the Parenting NeI￿ork, Community
Kettle and the Havelock Community Centre {a full list can be fourKI on page 10 of these accounts).
In addition, the Foundation supported Dentaid with a £7,500 grant to fund their valuable work in the
Portsmouth area. Dentaid help people, through their mobile units, who are at risk of health inequalities who
have been living with the misery of toothache.
The Partnership Foundation we will continue to provide flexible funding that is responsNe to the changing
needs of our communities.
Public bon8fit
The trustees confirm that they have referred to the guidance contained in the Charty Cornmission's general
guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
The trustees refer to public benefit throughout this reporL
Page 1

THE PARTNERSHIP FOUNDATK)N
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
During the year, the Foundats'on generated income of £206,436 wth expendrf(ure of £129,644 resulting in a
surplus of £76,792 before unrealised gains.
Reserves policy
The Partnership Foundation is a small charity that receives donations annually from the Portsmouth and SE
Hampshire Partnership (PSEHP). PSEHP is a local not for profit regeneration company that owns
commercial property and distributes its surpluses. These annual donations vary and have often been
£100,000 per annum. The trustees review these donations and their source annually to ensure they are
content with the ststus and acts"vities of the funding organisats"on. The Partnership Foundation's current, sole
activity is to make grants to projects in line with its charitable objectives. The Foundation rents an office in
Portsmouth Guildhall on a monthly licence and has no other contractual obligations. Staff costs are paid
hourly for management and administration as and when needed.
The trustees agreed to keep reserves of £10.OOD on the understanding this amount would easily cover any
unforeseen costs. This reserves policy is reviewed annually when the accounts are prepared.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Partnership Foundation is a charttable company, limited by guarant￿, incorporated on 29 June 2007 and
registered with the Charity Commission on 11 De￿mber 2007.
The charitable company is govemed by its Memorandum and ArtiC￿S of Association dated 8 May 2007.
Trnstees
The Articles of the charitable company currently allows for a minimum of five and a maximum of nine trustees
up to five elected by and from the membership at the AGM, up to three persons, appointed by the Board
from organisations operating or active in the a￿a of benefit or indtviduals who have appropriate skills and
experience of benefit to the charitable company and Portsmouth and South East Hampshire Partnership
Limited (corporate trustee). The Chairperson is appointed by the member of the charitable company from the
Board of Trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06297341 (England and Wales)
Reglstered Charlty number
1121941
Registered office
Portsmouth Guildhall
Guildhall Square
Portsmouth
Hampshire
P012AB
Trustees
M Craft
D Miles
Z Gray
A Clodfelter
R Dickens
Portsmouth and South East Hampshire Partnership Limited
Company Secretary
Portsmouth and South East Hampshire Partnership Limited
Page 2

THE PARTNERSHIP FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADPIIINISTRATIVE DETAILS
Independent Examiner
S Mackie, FCA
Morris Crocker
Chartered Accountants
ststion House
North Street
Havant
Hampshire
P09 1QU
Solicitor5
Moore Barlow
Gateway House
Tollgate
Chandlerfs Ford
Southampton
Hampshire
S053 3TG
Approved by order of the board of trustees on .
. and signed on its behalf by..
rustee
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE PARTNERSHIP FOUNDATION
Independent examIne￿S report to the trustees of The Partnership Foundation ('the Company'l
report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responsibilltles and basis of report
As the charity's trustees of the Company {and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordan￿ with the requirements of the Companies Act
2006 ('the 2006 ACV).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's
accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my
examination I have followed the Directions given by the Charity Commission under Section 145{5) (b) of the
2011 ACL
Independont examiner'8 Statement
I have completed my examination. I confirm that no matters have come to my attents'on in connection with the
examination giving me cause to believe"
accountj'ng records were not kept in ￿spect of the Company as required by Section 386 of the 2006
the accounts do not accord with those records. or
the accounts do not comply with the accounting requirernents of SeCt￿In 396 of the 2006 Act other
than any requirement that the accounts give a true and fair view which is not a matter considered as
part of an independent examination" or
the accounts have not been prepared in accordance ￿th the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities (applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland {FRS 102)).
I have no concerns and have come across no other matters in conneth'on with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
S Mackie, FCA
Morris Grocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
P09 1QU
Date:
Page 4

THE PARTNERSHIP FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
2024
Unrestricted
funds
2023
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
198,000
104,000
Charitable actlvltles
Partnership Foundation Fund
1.104
2,000
Investment income
7,332
9,336
Total
206.436
115,336
EXPENDITURE ON
Raising funds
6,071
8,305
Charitable activities
Partnership Foundats'on Fund
113,315
171,849
Other
10,258
8,714
Total
129,644
188,888
Net gains on investments
12,500
NET INCOMEI(EXPENDITURE}
89,292
(73.532)
RECONCILIATION OF FUNDS
Total funds brought fonward
257,834
331,366
TOTAL FUNDS CARRIED FORWARD
347,126
257,834
The notes form part of these financial ststements
Page 5

THE PARTNERSHIP FOUNDATION
BALANCE SHEET
31 MARCH 2024
2024
Totsl
funds
2023
Total
funds
Notes
FIXED ASSETS
Social investments
14
112,500
100,000
CURRENT ASSETS
Debtors
Cash at bank
15
223,350
13,776
104,323
81,561
237,126
185,884
CREDITORS
Amounts falling due within one year
16
(2,500)
(28,050)
NET CURRENT ASSETS
234,626
157,834
TOTAL ASSETS LESS CURRENT
LIABILITIES
347,126
257,834
NET ASSETS
347,126
257,834
FUNDS
Unrestricted funds
17
347,126
257,834
TOTAL FUNDS
347.126
257,834
The charitable company is entided to exemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 March 2024 in accordan￿ with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that the chariiable company keeps accounting records that comply with Sections 386 and 387
of the Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable
company as at the end of each financial year and of its surplus or defiat for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the
charitable company.
(b)
These financial statements have been prepared in accordance wth the provisions applicable to charitable
companies subject to the small companies regime.
he financial stat
ments were approved by the Board of Trustees and authorised for issue on
. and were s￿ned on its behalf by:
-.mc
The notes fonn part of these financial statements
Page 6

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANc￿L STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company. which is a public benefit entity under FRS 102,
have been prepared in accordan￿ with the Charities SORP {FRS 102) 'Accounting and Reporting by
Charits'es.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) (effective 1 January 2019)., Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements
have been prepared under the historical cost convention. as rnodified by the revaluation of certain
assets.
The trustees consider that there are material Un￿rtaIntieS atK)ut the Charity's ability to continue as a
going concem.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
commrtting the charity to that expenditure. rt is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly attributed to particular headings they have been
allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a
commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over tts estimated
useful life.
Office equipment
33.33% on cost
Individual fixed assets costing £250 or more are capitalised at cost.
Taxation
The charity is exempt from corFrf)ration tax on its charitable activiiies.
Fund accounting
Unrestricted funds can be used in accordance wtth the charitable objectives at the discretion of the
trustees.
Restricted funds can only be used for particular restricted pu￿SeS within the objects of the charity.
Restrictions arise when specified by the donor or when funds are ral￿d for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
statements.
Financial instruments
The charity only enters into basic financial insttuments transactions that result in the recognition of
financial assets and liabilities like trade and other accounts ￿CeiVable and payable and investments in
stocks and shares. The measurement basis used for these instruments is detailed below.
Page 7
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES - contlnued
Debtors and cash at bank
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due. Gash at bank and in
hand included cash held on deposit or in a current account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event that will probably result in the transfer of funds to a third party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised
at their setvement amount after allowing for any trade discounts due.
DONATIONS AND LEGACIES
2024
2023
Donations
198,000
104,000
INVESTMENT INCOME
2024
2023
Rents recesved
Deposit account interest
5,828
1.504
8,305
1.031
7,332
9,336
All investment income is derived from assets held in the United Kingdom.
INCOPIIE FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Partnership Foundation Fund
Hope into action
1,104
2,000
RAISING FUNDS
Other tradlng actlvftles
2024
2023
Rent
6,071
8,305
Page 8
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
CHARITABLE ACTMTIES COSTS
Grant
funding of
activities
(see note
7)
Partnership Foundation Fund
113,315
GRANTS PAYABLE
2024
2023
Partnership Foundation Fund
113,315
171,849
Page 9
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
2024
2023
Aspex
Sehco
EC Roberts Centre
Portsea Event
Acts of kindness
Two Saints
Hope into Action
Saturday kids zone
Toucan diversity
Salvation army
Portsmouth food bank
Dadzclub
Enable Activity
Comfort and Joy Vouchers
The Hive (foodbanks and food pantries)
Sparks Community Space Cuppa & Cake
Havelock Community Centre
STEM Unity
Community Fair
Andrew Simpson Foundab'on
Walking Football
Sustrans
Jacobs Well Care Centre
The Twirly's Game Club
Abilities for Life
Portsmouth Community Housing Trust
Motiv8 Mental Health
Community Kettle
John Pound Centre
Portsea Action Group
Portsea Panty
ECASS
The Dental Charty
Southsea Green Community Garden Association
The Parents'ng Network
St Faiths Hub
Chain Net Apparel
Gosport Food Bank
Cosham Larder
St Judes Church
Waterlooville Food Bank
Baffins Community Pantry
Park Community Venture
Lifehouse Food Bank
Empower Global
North End Pantry
st Simons Church
st Margarets
Oasis Pantry
Bridge Street Church
GBFC Holdings Limited
St Philips
Living Waters
10,000
20,000
445
17,500
500
15,000
600
4,000
2,504
10,500
1,000
1,000
2,000
2,500
500
3,000
7,000
50,000
500
500
900
500
500
500
500
10,000
500
500
25.000
23.000
2.905
1,000
500
10,000
10,000
1,010
300
500
2,500
500
7,500
500
500
1,000
500
2.000
2.000
2,500
2,000
2,500
2,500
2,500
5,000
2,500
2,500
2,500
2,500
2.500
500
500
500
113.315
171,849
Page 10
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 MARCH 2024
GRANTS PAYABLE - continued
SUPPORT COSTS
Govemance
costs
Management
Finance
Totals
Other resources expended
6.428
88
3.742
10.258
Support costs, included in the above, are as follows."
Management
2024
Other
resources
expended
2023
Total
activbties
Administration
6,428
4,353
Flnance
2024
Other
resources
expended
2023
Total
activities
Bank charges
88
75
Governance costs
2024
Other
resources
expended
2023
Total
activities
Insuran
Accountancy and legal fees
472
3,270
406
3,880
3,742
4,286
NET INCOMEI(EXPENDITURE
Net incomel(expenditure) is stated after chargingl{crediting)"
2024
2023
Independent examination fees
888
Page11
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
10. TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other tenefrts for the year ended 31 March 2024 nor for the
year ended 31 March 2023.
Trustees, expenses
During the year no trustees (2023.. none) were reimbursed out of pocket expenses.
Directors and Officers in8urdn¢e
The charitable company also provides Insuran￿ for its directors and offters.
Key Management Remuneration
Key management indudes the outsourced part time role of Chief Executive, totsl pay for this was nil
(2023- nil).
11. STAFF COSTS
The average monthly number of employees during the year VRS as follows:
2024
2023
Support staff
No employees received emoluments in excess of £60.000.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES
Unrestricted
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
104,000
Charltable actlvltles
Partnership Foundats'on Fund
2,000
Investment income
9,336
Total
115.336
EXPENDITURE ON
Raising funds
8,305
Charitable activities
Partnership Foundation Fund
171.849
Other
8.714
Total
188,868
NET INCOMEI(EXPENDITURE
(73,532)
RECONCILIATION OF FUNDS
Total funds brought forward
331,366
Page 12
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEmE￿rs - contlnued
FOR THE YEAR ENDED 31 MARCH 2024
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
TOTAL FUNDS CARRIED FORWARD
257,834
13. TANGIBLE FIXED ASSETS
Office
equipment
COST
At 1 April 2023 and 31 March 2024
4,358
DEPRECIATION
At 1 April 2023 and 31 March 2024
4,358
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
14. SOCIAL INVESTMENTS
Other
investments
MARKET VALUE
At 1 April 2023
Revaluations
100,000
12,500
At 31 March 2024
112.500
NET BOOKVALUE
At 31 March 2024
112,500
At 31 March 2023
100,000
Cost or valuation at 31 March 2024 is represented by:
Other
investments
Valuation in 2024
Cosl
12,500
100,000
112,500
If social investments had not been revalued they V￿uld have been included at the folloviing historical
cost:
2024
2023
Cost
100,000
100,000
Social investments were valued on an open market basis on 17 October 2023 by Chandler Hawkins.
Page 13
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
15. DEBTORS: ANIOUNTS FALUNG DUE WITHIN ONE YEAR
2024
2023
Other debtors
Prepayments
223,000
350
104,000
323
223,350
104,323
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Other creditors
Accrued expenses
422
25,000
2.006
2,078
2,500
28,050
17. MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
257.834
89,292
347,126
TOTAL FUNDS
257.834
89,292
347,126
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fijnd
206.436
(129,644)
12,500
89,292
TOTAL FUNDS
206,436
(129,644)
12,500
89,292
Comparatives for movement In funds
Net
movement
in funds
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
331,366
{73,532)
257.834
TOTAL FUNDS
331,366
(73,532)
257,834
Page 14
continued...

THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as foll¢)ws:
Incoming
resources
ReSour￿S
expended
Movement
in funds
Unrestrlcted funds
General fund
115.336
(188,868)
(73,532)
TOTAL FUNDS
115,336
(188,868)
(73,532)
18. RELATED PARTY DISCLOSURES
The following transactions twk place with Portsmouth and South East Hampshire Partnership Limited
(a company with directors in common with the charty) during the year:
2024
2023
Donation
Debtorl(creditor) at balance sheet date
Rent charged
198,000
223,000
5,102
104,000
104,000
3,374
19. ULTIMATE CONTROLLING PARTY
The charitable company is not under the control of another entty or any one individual.
20. LEGAL STATUS OF THE CHARttY
The charity is a company limited by guarantee and has no share capitai. The liability of each member
in the event of winding up is limited to £1.
Page 15