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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 2025
FOR
THE PARTNERSHIP FOUNDATION
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THE PARTNERSHIP FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 15 |
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THE PARTNERSHIP FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 aims
The objects of the charitable company are:
a) Develop the capacities and skills of socially 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
Significant activities
During 2024/25, the trustees continued to support families impacted by the high cost of living by giving £18,000 directly to 18 foodbanks and pantries and approved a further £22,000 by the end of the financial year.
For the Partnership Foundation to achieve its objectives of helping people, families and communities suffering social and economic deprivation, it depends on the valuable work of grassroots voluntary organisations who provide a support network across the city and its surrounding areas. The past year's investment, of £100,353, has built on existing partnerships with these organisations (who support disadvantaged groups across SE Hampshire). The Foundation continues to support its 'trusted partners', who can deliver its own charitable objectives, cost-effectively. During this year these 'trusted partners' have included the Roberts Centre (£15,000), Aspex (£20,000), Motiv8 (£15,000) and Jacobs Well in Gosport (£10,000). More recently Dentaid has become a trusted partner (£10,000). Dentaid help people, through their mobile units, who are at risk of health inequalities who have been living with the misery of toothache. The strategy of supporting Trusted Partners 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 and capacity.
The Foundation continued with its Community Projects Fund which offers small grants of £500. During the year there were 16 projects receiving over £8,500 of grants between them. These included voluntary organisations like the Connors Toy Library, the North End Playscheme, Abilities for Life and the Minstead Trust (a full list can be found on page 10 of these accounts). A further 6 projects and £2,900 was approved at the end of the financial year. Recently the trustees agreed to increase the small grants limit to requests of up to £1,000 and will continue to provide flexible funding that is responsive to the changing needs of our communities.
More recently the board were delighted to welcome Bernie Topham as a director. Bernie brings a wealth of experience and a strong commitment to the area.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission'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 report.
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THE PARTNERSHIP FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
During the year, the Foundation generated income of £145,207 with expenditure of £115,649 resulting in a surplus of £29,558.
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 status and activities of the funding organisation. 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 £10,000 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 charitable company, limited by guarantee, incorporated on 29 June 2007 and registered with the Charity Commission on 11 December 2007.
The charitable company is governed by its Memorandum and Articles of Association dated 8 May 2007.
Trustees
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 area of benefit or individuals 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)
Registered Charity number
1121941
Registered office
Portsmouth Guildhall Guildhall Square Portsmouth Hampshire PO1 2AB
Trustees
M Craft D Miles Z Gray A Clodfelter R Dickens Portsmouth and South East Hampshire Partnership Limited B Topham - Appointed 14 October 2025
Company Secretary
Portsmouth and South East Hampshire Partnership Limited
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THE PARTNERSHIP FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
S Mackie, FCA Morris Crocker Chartered Accountants Lake House 2 Port Way Port Solent Portsmouth Hampshire PO6 4TY
Solicitors
Moore Barlow Gateway House Tollgate Chandler's Ford Southampton Hampshire SO53 3TG 17 December 2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. M Craft - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PARTNERSHIP FOUNDATION
Independent examiner's report to the trustees of The Partnership Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities 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 accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
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 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 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 with 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 connection 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 Crocker Chartered Accountants Lake House 2 Port Way Port Solent Portsmouth Hampshire PO6 4TY
17 December 2025
Date: .............................................
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THE PARTNERSHIP FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| 2025 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 140,000 Charitable activities 4 Partnership Foundation Fund 1,125 Investment income 3 4,082 Total 145,207 EXPENDITURE ON Raising funds 5 6,152 Charitable activities 6 Partnership Foundation Fund 109,497 Other - Total 115,649 Net gains on investments - NET INCOME 29,558 RECONCILIATION OF FUNDS Total funds brought forward 347,126 TOTAL FUNDS CARRIED FORWARD 376,684 |
2024 Total funds £ 198,000 1,104 7,332 |
|---|---|
| 206,436 | |
| 6,071 113,315 10,258 |
|
| 129,644 | |
| 12,500 | |
| 89,292 257,834 |
|
| 347,126 |
The notes form part of these financial statements
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THE PARTNERSHIP FOUNDATION
BALANCE SHEET 31 MARCH 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Total | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Social investments | 14 | 112,500 | 112,500 |
| CURRENT ASSETS | |||
| Debtors | 15 | 168,456 | 223,350 |
| Cash at bank | 98,412 | 13,776 | |
| 266,868 | 237,126 | ||
| CREDITORS | |||
| Amounts falling due within one year | 16 | (2,684) | (2,500) |
| NET CURRENT ASSETS | 264,184 | 234,626 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 376,684 | 347,126 | |
| NET ASSETS | 376,684 | 347,126 | |
| FUNDS | 17 | ||
| Unrestricted funds | 376,684 | 347,126 | |
| TOTAL FUNDS | 376,684 | 347,126 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) 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 deficit 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
17 December 2025
............................................. M Craft - Trustee
The notes form part of these financial statements
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. 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 accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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 modified by the revaluation of certain assets.
The trustees consider that there are material uncertainties about the Charity's ability to continue as a going concern.
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 committing the charity to that expenditure, it 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 its 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 corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised 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 instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in stocks and shares. The measurement basis used for these instruments is detailed below.
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES - continued
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. Cash 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 settlement amount after allowing for any trade discounts due.
2. DONATIONS AND LEGACIES
| Donations 3. INVESTMENT INCOME Rents received Deposit account interest All investment income is derived from assets held in the United Kingdom. 4. INCOME FROM CHARITABLE ACTIVITIES Activity Hope into action Partnership Foundation Fund 5. RAISING FUNDS Other trading activities Rent |
2025 £ 140,000 2025 £ 3,076 1,006 4,082 2025 £ 1,125 2025 £ 6,152 |
2024 £ 198,000 |
2024 £ 198,000 |
|---|---|---|---|
| 2024 £ 5,828 1,504 |
|||
| 7,332 | |||
| 2024 £ 1,104 |
|||
| 2024 £ 6,071 |
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. CHARITABLE ACTIVITIES COSTS
| 6. CHARITABLE ACTIVITIES COSTS |
|||
|---|---|---|---|
| Partnership Foundation Fund 7. GRANTS PAYABLE Partnership Foundation Fund |
Grant funding of activities (see note 7) £ 100,353 |
Support costs (see note 8) £ 9,144 2025 £ 100,353 |
Totals £ 109,497 |
| 2024 £ 113,315 |
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
7. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
| GRANTS PAYABLE - continued The total grants paid to institutions during the year was as follows: |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Aspex | 20,000 | 10,000 |
| EC Roberts Centre | 15,000 | 15,000 |
| Portsea Event | 1,000 | 600 |
| Marvels and meltdowns | 438 | - |
| Acts of kindness | 1,000 | 4,000 |
| Saturday kids zone | 500 | 1,000 |
| Toucan diversity | - | 1,000 |
| Salvation army | 1,500 | 2,000 |
| Portsmouth food bank | 1,000 | 2,500 |
| Enable Activity | 1,000 | 3,000 |
| The Hive (foodbanks and food pantries) | 1,000 | 2,905 |
| Sparks Community Space Cuppa & Cake | - | 1,000 |
| Havelock Community Centre | - | 500 |
| Jacobs Well Care Centre | 10,000 | 10,000 |
| Abilities for Life | 500 | - |
| Motiv8 Mental Health | 15,000 | 10,000 |
| Community Kettle | - | 1,010 |
| John Pound Centre | - | 300 |
| Portsea Action Group | - | 500 |
| Portsea Pantry | 1,000 | 2,500 |
| ECASS | - | 500 |
| The Dental Charity | 10,000 | 7,500 |
| Southsea Green Community Garden Association | - | 500 |
| The Parenting Network | - | 500 |
| St Faiths Hub | - | 1,000 |
| Chain Net Apparel | - | 500 |
| Gosport Food Bank | - | 2,000 |
| Cosham Larder | - | 2,000 |
| St Judes Church | 1,000 | 2,500 |
| Waterlooville Food Bank | 1,000 | 2,000 |
| Baffins Community Pantry | 1,000 | 2,500 |
| Park Community Venture | 1,000 | 2,500 |
| Lifehouse Food Bank | 1,000 | 2,500 |
| Empower Global | 2,000 | 5,000 |
| North End Pantry | - | 2,500 |
| St Simons Church | 1,000 | 2,500 |
| St Margarets | - | 2,500 |
| Oasis Pantry | - | 2,500 |
| Bridge Street Church | - | 2,500 |
| GBFC Holdings Limited | - | 500 |
| St Philips | 1,000 | 500 |
| Living Waters | - | 500 |
| Connors Toy Library | 500 | - |
| North End Playscheme | 500 | - |
| Chloe's and Sophie's Special Ears Fund | 415 | - |
| Portsmouth Sail Training Trust | 500 | - |
| Minstead Trust | 500 | - |
| Family Support | 500 | - |
| North End Baptist | 1,000 | - |
| Share (Portsmouth) | 500 | - |
| St Michael | 500 | - |
| Fratton Together | 1,000 | - |
| Mustard Seed Minis | 1,000 | - |
| Rowans Hospice | 5,000 | - |
| PRCDTR Diocesan | 500 | - |
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
7. GRANTS PAYABLE - continued
| 100,353 8. SUPPORT COSTS Governance Management Finance costs £ £ £ Partnership Foundation Fund 4,964 86 4,094 Support costs, included in the above, are as follows: |
113,315 | 113,315 |
|---|---|---|
| Totals £ 9,144 |
||
Management
| Management | |||
|---|---|---|---|
| 2025 | 2024 | ||
| Partnership | |||
| Foundation | Total | ||
| Fund | activities | ||
| £ | £ | ||
| Administration | 4,964 | 6,428 | |
| Finance | |||
| 2025 | 2024 | ||
| Partnership | |||
| Foundation | Total | ||
| Fund | activities | ||
| £ | £ | ||
| Bank charges | 86 | 88 | |
| Governance costs | |||
| 2025 | 2024 | ||
| Partnership | |||
| Foundation | Total | ||
| Fund | activities | ||
| £ | £ | ||
| Insurance | 476 | 472 | |
| Accountancy and legal fees | 3,618 | 3,270 | |
| 4,094 | 3,742 | ||
| 9. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Independent examination fees | 1,776 | 888 |
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
During the year no trustees (2024: none) were reimbursed out of pocket expenses.
Directors and Officers insurance
The charitable company also provides insurance for its directors and officers.
Key Management Remuneration
Key management includes the outsourced part time role of Chief Executive, total pay for this was nil (2024: nil).
11. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Support staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Partnership Foundation Fund Investment income Total EXPENDITURE ON Raising funds Charitable activities Partnership Foundation Fund Other Total Net gains on investments NET INCOME |
2025 2024 1 1 Unrestricted funds £ 198,000 1,104 7,332 206,436 6,071 113,315 10,258 129,644 12,500 89,292 |
|---|---|
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 13. TANGIBLE FIXED ASSETS COST At 1 April 2024 and 31 March 2025 DEPRECIATION At 1 April 2024 and 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 14. SOCIAL INVESTMENTS MARKET VALUE At 1 April 2024 and 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Cost or valuation at 31 March 2025 is represented by: Valuation in 2024 Cost |
Unrestricted funds £ 257,834 347,126 Office equipment £ 4,358 4,358 - - Other investments £ 112,500 112,500 112,500 Other investments £ 12,500 100,000 112,500 |
|---|---|
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 17. MOVEMENT IN FUNDS At 1.4.24 £ Unrestricted funds General fund 347,126 TOTAL FUNDS 347,126 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 145,207 TOTAL FUNDS 145,207 Comparatives for movement in funds At 1.4.23 £ Unrestricted funds General fund 257,834 TOTAL FUNDS 257,834 |
2025 2024 £ £ 168,076 223,000 380 350 168,456 223,350 2025 2024 £ £ 250 422 2,434 2,078 2,684 2,500 Net movement At in funds 31.3.25 £ £ 29,558 376,684 29,558 376,684 Resources Movement expended in funds £ £ (115,649) 29,558 (115,649) 29,558 Net movement At in funds 31.3.24 £ £ 89,292 347,126 89,292 347,126 |
|---|---|
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THE PARTNERSHIP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 206,436 206,436 |
Resources expended £ (129,644) (129,644) |
Gains and Movement losses in funds £ £ 12,500 89,292 12,500 89,292 |
|---|---|---|---|
18. RELATED PARTY DISCLOSURES
The following transactions took place with Portsmouth and South East Hampshire Partnership Limited (a company with directors in common with the charity) during the year:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Donation | 140,000 | 198,000 |
| Debtor/(creditor) at balance sheet date | 25,000 | 223,000 |
| Rent charged | 3,076 | 5,102 |
19. ULTIMATE CONTROLLING PARTY
The charitable company is not under the control of another entity or any one individual.
20. LEGAL STATUS OF THE CHARITY
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
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