BETA Having problems on this page? Your ￿[ee ￿￿k will help us to improve it. O You will be logged out after 30 minute5 of inactivity. Messages Ilgrouplguesunotilicationsl Account Ilgrouplguestlmy-detailsl Sign out Ilclportalllogouti Charity Commission Annual Return 2023 Print Cancel FINHUMF Charity registration number.. 1123293 Most of the information you give in this form will become publicly available on the Register of Charltles. Any fleld that the Charlty Commlsslon wlll not dlsplay wlll be clearly marked. This document is a record of the information provided in the Annual Return 2023. PART A- Charity information Financial period Financial 0110412022 riod start date Financial period end date 3110312023 Income and spending In¢ome £ £ 151.944 endin £ 18,223 Number of contracts from government How many ¢•ntra¢ts (other than granl a9reement$l dld your ¢harlty re¢¢lve from central government or a local authorily during the financial period for this return7 Number of grants from government How many grants dld your ¢harlty re¢elve from ¢enlral yovernment or a lo¢al authorhy durltto the financial eriod for this return. Income breakdown Donations and le acies excludin Endowments Received Ch8rltsble actlvltles other tradin activities Investments £151,944 other Corporate donations What was the value of your charIt￿$ slngle hlghest value donatlon recelved from a corporate donor durin the financial riod of this return. Donations from individuals What was the value of your CharIty￿ slngle hlghest value donatlon recelved from an Indlvldual duriny the financial period of thi5 return. Donations from related parties What was the value of your CharIty￿ slngle hlghest value donatlon recelved from a related party durin th• finaneial •riod Of this r•turn? Grantmaking rant makln the maln wa ur charl carrles out Its purposes? Yes Re¢lplent$ of grants Please round all figures to th8 near85t pound Ido not 8nt8r decimal points or comma51. Indlvldual$ 0th8r charities other o £7,142 anisation5 that are not charitie5 Grant recipients related parties Are any of the grant reclplents related partles to the charlty? No Trustge paymgnt$ Excluding out of pocket expens85, for what wero any of the trustees paid during the financial perlod for thls return? e. None of the trustees have been paid Did any of the truste85 resign and take up employment with your charity in the financial period of Ihls return? No Income from outside the UK Did your charlly re¢elve In¢ome from outslde ol the Unlted Kln9d•m In the Ilnanclal perlod ol thls return? No Delivering activities outside the United Kingdom Dirf YOUT charity deliver charitable activities outside of the United Kingdom in the financial period of this return7 No Spandlng outslda England & Wales Did ur ¢haril s nd funds a4￿ld# ot thè Unil•d Kin dom in th• tinancial •riod of this r•turn? Total Spendln outslde En land & Wales Tradlng subsldlarles Does the charit have an tradin subsidiari857 Charity contact details correct 1$ the ¢ottta¢t address dl$played from Ihe Reglster ol Charllles. ¢•rre¢t? Yes Charlty headquarters detalls ¢orrect Is this the same address that you use as your charity's administrative headquarters? Yes Charity contact address Address Line 1 283 DOVER HOUSE ROAD Address Llne 2 LONDON Addr8S5 Lin8 3 Add￿$$ Line 4 Address Line S Postcode SW15 5BN count Charity Headquarters address Addre55 Line 1 283 DOVER HOUSE ROAD Address Llne 2 LONDON Addr8S5 Lin8 3 Add￿$$ Line 4 Address Llne S Postcode SW15 5BN Count Membership type Is the charlty part of a wlder group structure wlth a parent body and subsldlary bodles? no, the charity is not part of a wider group 8tructure Employment contract typas People were permanently employed by your charity Peo le were on flxed-terms contracts wlth our charl Sglf4mploygd pgoplg warg working foryour charity Governancè policies Intornal charity financial controls policy and procedur85 Y8S Safe Yes uardln oll¢ and rocedures Financi81 rese￿@8 polic Yes and procedures Complaint5 policy and procedures Y8S Serlous In¢ldent re Yes ortln and ro¢edure$ Internal risk management policy and procedures Yes Tru5te8 ex Y8S nses and rocedur85 Tru5te8 conflict5 of interest olic Y8S and rocedures Investlng charlty funds pollcy and procedures Yes C8mpai Yes ns and political 8Ctivity polic and procedure8 Bullying and haras5rnent policy and procedures Not applicable Soclal meilla poll¢ Not applicable and pro¢edure$ Engaging extemal speakers at charity events policy and procedures Not applicable Safeguarding Has your charity provided services to children andlor adult5 at risk in the financial period of the return? Serious Incidents Has your ¢harity r•portod all Sèrious In¢id•nts lin¢luding any hi$tori¢al in¢id•nls) that tho ¢harity became aware of durlng the flnanclal perlod of thls return? There were no incidents lo ￿port External rlsk and Impact Donations UnknownlNo ChangelNotApplicable Other Income- grants UnknownlNo ChangelNotAppli¢able other income- contract5 UnknownlNo Chang8lNotApplicab18 Other In¢ome- Investment UnknownlNo ChangelNot Applicable enditure on charitable activities UnknownlNo ChangelNotApplicable Expenditure on ovetheads UnknownlNo ChangelNotApplicable Number of volunteers UnknownlNo ChangÈlNotApplicable Numb•r Of •m UnknownlNo ChangelNotApplicable Number of trustee8 UnknownlNo ChangelNotApplicable Fundraisin activities UnknownlNo Chang8lNotApplicab18 acit to deliver service5 UnknownlNo ChangelNotApplicab18 Total $ervl¢e demand UnknownlNo ChangelNot Applicable Volunteers Excluding trusteesi provid8 an estimate of the number of volunteers who carried out charitable a¢tlvltle$ on behalf of ¢harlty In the Unlled Klnyd•m durlnu the tlnan¢lal perlod ot Ihl$ return. Privacy statement Any information you give us will be held securely and processed only in accordance with the rule on data protection. We will not disclose your personal detalls to anyone unconnected to the Charlty Commlsslon unless: you have consented to their release. or wa arg Iggally obliged to disclose thgm. or we regard disclosure as either {a) necessary so that we can properly carry out our statutory functions or (b) necessary in the public interest. We may share and dlsclose Informatlon about you wlth relevant publlc authorltles. regulatory bodies and agencies, outslde the Charily Commisslon but only ifr. we can lawfully do so. and wa dgcido that disclosurg is nocossary for national socurity? crime detection prevention, and law enforcement, or other issues in the public interest Information we collect about you We wlll use thls Informatlon: To enable us to carry out our Statutory functions and dutie$. This will includo the following actions: (a) update, consolidate, and improve the accuracy of our records" (b) undertake crlme detectlon and preventlon and law enforcement and asslst the thlrd partles specifled above to investigate or prevent crlme and carry out law enforcement. (c) data analysis. testing? research, statistical and survey purposes Information we receive from other sources. Information wo racaivo from othor sourcos We may combine this information with inft•rmation YOU give to us and information we collect about you. We may use Ihls Informatlon and the combined Information for the purposes set out abovo Idepending on tho typos of information w• receivè). We wlll ensure that any such dlsclosure and use Is proportlonate. conslders your right to respect for your private life" and is done fairly and lawfully in accordance with the data protection principles of the Data Protection Act. The Dala Protection Act 1998 regulates the use of 'personal data., which is essentially any information. however stored, about identifiable living individuals. As a 'data controllerf under the Act. the Charity Commission must comply with it. Any changes we may make to our privacy statement in the future will be set out in the replacement version of this form. Please check back frequently to see any updates or changes to our privacy policy. Declaration Thls annual return has not been submltted and no Declaratlon has been made DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 **Company Registration No. 06526064 (England and Wales) Registered Charity No: 1123293** ## **Finhumf (A company limited by guarantee)** **Trustees’ report and financial statements For the year ended 31 March 2023** DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Contents** ||**Page**| |---|---| |Legal and administrative information|1| |Report of the trustees|2| |Independent examiner’s report to the trustees|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8| DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Legal and administrative information** |**Trustees**|Leslie Hill| |---|---| ||Bob Noyen| ||Jamie Ball| |**Secretary**|Bob Noyen| |**Charity number**|1123293| |**Company registration number**|06526064| |**Registered office**|283 Dover House Road| ||Putney| ||London| ||SW15 5BN| |**Bankers**|Coutts & Co| ||440 Strand| ||London| ||WC2R 0QS| |**Independent examiner**|Saffery LLP| ||Mitre House| ||North Park Road| ||Harrogate| ||HG1 5RX| Page 1 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Report of the trustees (incorporating the Directors’ report) For the year ended 31 March 2023** The trustees present their unaudited financial statements for the year ended 31 March 2023. ## **Structure, governance and management** Finhumf was incorporated on 6 March 2008, and is governed by its Memorandum and Articles of Association. The Charity is a company limited by guarantee. The objects of the Charity are such exclusively charitable purposes as the Trustees shall in their absolute discretion decide. The Trustees, who are also directors of Finhumf for the purposes of company law, who have been in office throughout the period and to the date of this report are (except as noted): Leslie Hill Bob Noyen Jamie Ball The charity takes into account experience, qualifications and dedication to charitable causes when recruiting and appointing new trustees. The charity provides ongoing training for its trustees where appropriate. ## **Objectives and activities** The broad objects and powers of the charity allow trustees to regularly review how best to apply the charitable funds. The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing their aims and objectives. The policy set by the trustees is to support a variety of charitable projects in the future in making grants to other organisations at their discretion. In doing so the trustees give due consideration to the nature of each organisation either as a UK registered charity or a community not for profit project. ## **Achievements and performance** There are three main spheres of activity, The Landmark Trust apprenticeship support scheme, the XLP donations and part funding of their community youth club bus, and the Funding of a Teach First initiative to mentor high school graduates on career planning and coaching. The Landmark Trust approached us in a previous year to ask for support for their apprenticeship scheme. We have supported two apprentices and would plan to continue to do this, whenever they come up with new candidates they feel are suitable. We meet with them and their apprentice when we can, usually at the start and end of their programme, and we have been happy with the oversight and teaching at the Trust. There was no expenditure for this scheme within the 2023 year end. We have not at present made any commitments for future funding, but would expect the scheme to continue, and we are confident we can honour any commitment needed out of our dividend income from Record. ## **XLP** We have supported this London based youth charity for ten years now, at various levels. We part funded a new ULEZ compliance youth club bus for them last year and also trialled an internship programme they wished to run, where we funded candidates who could be given work if some funding could be found for this. Within the year, there were donations of £7,142 for individual internships. Whilst there was no request for a specific donation in the 2023 year end, XLP hope to continue this scheme in 2024 and we await their input as to what would be the next step. We also give them one off donations from time to time when required. Page 2 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Report of the trustees (incorporating the Directors’ report) (continued) For the year ended 31 March 2023** ## **Teach First** Teach First the educational charity approached us to help with a programme of coaching and mentoring for graduates of high school who need career advice. We trialled one programme and then the Teach First manager who ran this programme left. We are awaiting a new member of Teach First staff who will get in touch with us to see if the programme will be reactivated. We have not committed to anything at this stage, and therefore there was no grant expenditure in the 2023 year end. We are also planning this year to diversify our investments, by selling some Record shares and placing the funds in an index tracker in order to diversify our risks. We did not incur any Trustee expenses or staff costs last year. ## **Financial Review** ## _Income_ Total income in the year amounted to £151,944 (2022: £113,621). ## _Grants and Donations_ During the year £7,142 was donated in support of Youth Work in the UK (2022: £173,000). ## **Reserves policy** It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity. The Trustees consider that the investment portfolio is liquid enough to also be considered as free reserves and are therefore satisfied the charity has sufficient reserves to ensure the future viability of the charity and its activities. At 31 March 2023 the total reserves of the charity were £3,080,898 (2022: £2,625,474). The Trustees can spend both income and capital at their absolute discretion. ## **Risk management** The trustees consider the main risk to be the concentration of the investment portfolio in one shareholding. We continue to monitor the variability of the Record share price and look for opportunities to liquidate the holding, but with current cash reserves there is not any urgency here and we await a favourable share price to move ahead. The value of the investments at the year-end had increased to £2,555,382 compared to £2,234,386 in 2022. ## **Plans for future periods** The charity plans to make future donations to a variety of organisations. The nature and size of these donations will be at the discretion of the trustees. ## **Statement of trustees’ responsibilities** The trustees (who are also directors of Finhumf for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; Page 3 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Report of the trustees (incorporating the Directors’ report) (continued) For the year ended 31 March 2023** - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (FRS102) (2019) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 25 January 2024 Approved by the Trustees on ……………………………….and signed on their behalf by: ## Leslie Hill **Trustee** Page 4 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Independent examiner’s report to the trustees For the year ended 31 March 2023** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023. ## **Respective responsibilities of trustees and examiner** As the charity’s trustees of the charitable 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 charity 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. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **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 that in any material respect: 1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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. Sally Appleton, ICAEW Saffery LLP Mitre House, North Park Road, Harrogate, HG1 5RX 26 January 2024 Page 5 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Statement of financial activities (including income and expenditure account) For the year ended 31 March 2023** |**Notes**
**Income from**
Investments
**2**
Royalty Income
Other income
**Total income**
**Expenditure on**
**3**
Charitable activities
**Total expenditure**
**Net income/(expenditure)**
**for the year**
**5**
Net gain on investments
**9**
**Other recognised**
**gains/(losses)**
Exchange gains/(losses)
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**General**
**Fund**
**2023**
**£**
151,944
-
-
151,944
18,223
18,223
**133,721**
-
707
134,428
70,926
205,354|**Expendable**
**Endowment**
**2023**
**£**
-
-
-
-
-
-
**-**
320,996
-
320,996
2,554,548
2,875,544|**Total**
**Funds**
**2023**
**£**
151,944
-
-
151,944
18,223
18,223
**133,721**
320,996
707
455,424
2,625,474
3,080,898|**Total**
**Funds**
**2022**
**£**
107,041
80
6,500| |---|---|---|---|---| |||||113,621| |||||186,433| |||||186,433| |||||**(72,812)**
31,470
93| |||||(41,249)
2,666,723| |||||2,625,474| The notes on pages 8 to 15 form an integral part of these financial statements. There are no recognised gains or losses other than those disclosed above. All of the above results derive from continuing activities. Page 6 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Balance Sheet As at 31 March 2023** |**Notes**
**Fixed Assets**
Tangible fixed assets
**8**
Investments
**9**
**Current assets**
Cash at bank and in hand
**Current liabilities:**
Amounts falling due
within one year
**10**
**Net current assets**
**Net assets**
**Funds**
Unrestricted funds
**Total funds**
**11**|**Unrestricted**
**General**
**Fund**
**2023**
**£**
-
-
226,359
(21,005)
205,354
205,354
205,354
205,354|**Expendable**
**Endowment**
**2023**
**£**
-
2,555,382
320,162
-
320,162
2,875,544
2,875,544
2,875,544|**Total**
**Funds**
**2023**
**£**
-
2,555,382
546,521
(21,005)
525,516
3,080,898
3,080,898
3,080,898|**Total**
**Funds**
**2022**
**£**
4,474
2,234,386
401,774
(15,160)| |---|---|---|---|---| |||||386,614| |||||2,625,474| |||||2,625,474| |||||2,625,474| For the year ended 31 March 2023 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. 25 January 2024 The financial statements were approved by the board on ……………………. and signed on its behalf by: Leslie Hill **Trustee** **Company registration number 06526064 (England and Wales)** The notes on pages 8 to 15 form an integral part of these financial statements. Page 7 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Notes to the Financial Statements For the year ended 31 March 2023** ## **1. Accounting policies** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. ## **1.1** ## **Basis of accounting** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Finhumf meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Advantage has been taken of the exemption for charities with income less than £500,000 from preparing a cash flow statement under SORP (FRS 102). After reviewing the charity’s forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements. ## **1.2** ## **Company status** Finhumf is a company limited by guarantee. The members undertake to contribute such amount as may be required (not exceeding £1 each) to the charity’s assets in the event it should be wound up. The total of such guarantees at 31 March 2023 was £3 (2022: £3). ## **1.3 Income** Income is included in the Statement of Financial Activities in the period in which there is probability of receipt, the charity is entitled to receipt and the amount can be measured with reasonable certainty. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Non-cash donations are included at their market value at the time of the donation. Income from investments is included in the year in which it is receivable. Page 8 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Notes to the financial statements (continued) For the year ended 31 March 2023** ## **1.4 Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs are the costs involved in the constitutional and statutory aspects of running the charity as a legal entity. ## **1.5 Foreign currency translation** Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the statement of financial activities. ## **1.6 Investments** Listed investments are stated at market value at the balance sheet date. ## **1.7 Tangible fixed assets** Expenditure on the acquisition of individual fixed assets costing more than £2,000 is capitalised at cost. Depreciation is provided to write off the cost of the asset over its useful economic life. The rates of depreciation are as follows: Equipment Over 3 to 5 years straight line ## **1.8 Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.9 Creditors** Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due. ## **1.10 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. The charity does not have any bank loans. Page 9 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 **Notes to the financial statements (continued) For the year ended 31 March 2023** ## **Finhumf** ## **(A company limited by guarantee)** ## **1.11 Fund accounting** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. The original donation received when the charity was set up has been included as an expendable endowment fund and the income arising is classed as unrestricted. The Trustees can spend both income and capital at their absolute discretion. ## **2. Investment income** ## **3.** |Dividends receivable
Bank interest receivable
**Expenditure**
Other charitable activities
Governance costs (note 4)|**2023**
**Total**
**£**
150,113
1,831
151,944
**2023**
**Total**
**£**
11,616
6,607
18,223|**2022**
**Total**
**£**
106,999
42| |---|---|---| |||107,041| |||**2022**
**Total**
**£**
177,472
8,961| |||186,433| Included in other charitable activities are amounts paid to the following charitable organisations: |Teach First
The Landmark Trust
XLP
Individual internship|**2023**
**Total**
**£**
-
-
-
7,142
7,142|**2022**
**Total**
**£**
100,000
20,000
52,000
1,000| |---|---|---| |||173,000| Page 10 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Notes to the financial statements (continued) For the year ended 31 March 2023** ## **4. Governance costs** |Independent examination fee
Accountancy costs
Bank charges
**5.**
**Net income/(expenditure) for the year**
Net income is stated after charging:
Independent examination fee
Depreciation|**2023**
**Total**
**£**
4,630
1,215
762
6,607
**2023**
**£**
4,630
4,474|**2022**
**Total**
**£**
6,335
1,660
966| |---|---|---| |||8,961| |||**2022**
**£**
6,335
4,472| **6. Staff costs, trustee remuneration and expenses, and the costs of key management personnel** The charity has no directly employed staff and no employee received employee benefits in excess of £60,000 (2022: none). The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil), neither were they reimbursed expenses during the year (2022: £nil). ## **7. Taxation** As a charity, Finhumf is entitled to certain tax exemptions on income and profits from investments carried on in furtherance of the charity’s primary objectives, if these profits are applied solely for charity purposes. Accordingly, there is no taxation charge in these accounts. Page 11 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Notes to the financial statements (continued) For the year ended 31 March 2023** |**8.**
**Tangible fixed assets**
**Cost**
At 1 April 2022
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge in the year
At 31 March 2023
**Net book value**
At 31 March 2022
**At 31 March 2023**
**9.**
**Investments**
Market value at 1 April
Unrealised gain on investments
Market value at 31 March|**Equipment**
**£**
22,362
22,362
17,888
4,474
22,362
4,474
**-**
**2023**
**£**
2,234,386
320,996
2,555,382|**Total**
**£**
22,362| |---|---|---| |||22,362| |||17,888
4,474| |||22,362| |||4,474
**-**
**2022**
**£**
2,202,916
31,470| |||2,234,386| Investments that represented more than 5% of the total portfolio were Record PLC, with a market value of £2,555,382 (2022: £2,234,386). ## **10. Creditors** |**Amounts falling due within one year**
Other creditors
Accruals
Bank Overdraft|**2023**
**£**
14,645
6,240
120
21,005|**2022**
**£**
8,705
6,335
120| |---|---|---| |||15,160| Page 12 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Notes to the financial statements (continued) For the year ended 31 March 2023** ## **11. Funds** |**2023 Funds**|**Funds**|**Income**|**Expenditure**|**Expenditure**|**Gains/(losses)**|**Funds**| |---|---|---|---|---|---|---| ||**b/fwd**||||**and transfers**|**c/fwd**| ||**£**|**£**||**£**|**£**|**£**| |General fund|70,926|151,944|(18,223)||707|205,354| |Expendable|2,554,548|-||-|320,996|2,875,544| |endowment||||||| |Total funds|2,625,474|151,944|(18,223)||321,703|3,080,898| |**2022 Funds**|**Funds**|**Income**|**Expenditure**||**Gains/(losses)**|**Funds**| ||**b/fwd**||||**and transfers**|**c/fwd**| ||**£**|**£**||**£**|**£**|**£**| |General fund|143,645|113,621|(186,433)||93|70,926| |Expendable|2,523,078|-||-|31,470|2,554,548| |endowment||||||| |Total funds|2,666,723|113,621|(186,433)||31,563|2,625,474| |**Analysis of assets and liabilities**||**between**|**funds**|||| |||**Unrestricted**||**Expendable**||**Total funds**| |||**General fund**||**Endowment**||**2023**| ||||**£**||**£**|**£**| |Tangible fixed assets|||-||-|-| |Investments|||-||2,555,382|2,555,382| |Cash at bank and in hand|||226,359||320,162|546,521| |Current liabilities|||(21,005)||-|(21,005)| |Total funds|||205,354||2,875,544|3,080,898| ## **12. Analysis of assets and liabilities between funds** Page 13 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf (A company limited by guarantee)** ## **Notes to the financial statements (continued) For the year ended 31 March 2023** ## **Prior year analysis of assets and liabilities between funds** |Tangible fixed assets
Investments
Cash at bank and in hand
Current liabilities
Total funds|**Unrestricted**
**General fund**
**Expendable**
**Endowment**
**Total funds**
**2022**
**£**
**£**
**£**
4,474
-
4,474
-
2,234,386
2,234,386
81,612
320,162
401,774
(15,160)
-
(15,160)| |---|---| ||70,926
2,554,548
2,625,474| ## **13. Related party transactions** During the year, a Trustee paid £nil of expenses on the charity’s behalf (2022: £nil). There is a balance of £8,706 (2022: £8,706) included within other creditors in relation to expenses paid by a Trustee on the Charity’s behalf in a prior year. There were no other related party transactions during the year (2022: none). Page 14 DocuSign Envelope ID: 1819EB13-A751-44DF-A076-FD95BA53F7B6 ## **Finhumf** ## **(A company limited by guarantee)** ## **Notes to the financial statements (continued) For the year ended 31 March 2023** ## **14. Comparative statement of financial activities** |**Incoming and endowments**
**from**
Investments
Royalty Income
Charitable Activities
Other income
**Total income**
**Expenditure on**
Charitable activities
**Total expenditure**
**Net income / (expenditure)**
Net gain on investments
**Other recognised**
**gains/(losses)**
Exchange gains/(losses)
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**General**
**Fund**
**2022**
**£**
107,041
80
-
6,500
113,621
186,433
186,433
(72,812)
-
93
(72,719)
143,645
70,926|**Expendable**
**Endowment**
**2022**
**£**
-
-
-
-
-
-
-
-
31,470
-
31,470
2,523,078
2,554,548|**Total**
**Funds**
**2022**
**£**
107,041
80
-
6,500| |---|---|---|---| ||||113,621| ||||186,433| ||||186,433| ||||(72,812)
31,470
93| ||||(41,249)
2,666,723| ||||2,625,474| Page 15 BETA Having problems on this page? Your ￿[ee ￿￿k will help us to improve it. O You will be logged out after 30 minute5 of inactivity. Messages Ilgrouplguesunotilicationsl Account Ilgrouplguestlmy-detailsl Sign out Ilclportalllogouti Charity Commission Annual Return 2023 Print Cancel FINHUMF Charity registration number.. 1123293 Most of the information you give in this form will become publicly available on the Register of Charltles. Any fleld that the Charlty Commlsslon wlll not dlsplay wlll be clearly marked. This document is a record of the information provided in the Annual Return 2023. PART A- Charity information Financial period Financial 0110412022 riod start date Financial period end date 3110312023 Income and spending In¢ome £ £ 151.944 endin £ 18,223 Number of contracts from government How many ¢•ntra¢ts (other than granl a9reement$l dld your ¢harlty re¢¢lve from central government or a local authorily during the financial period for this return7 Number of grants from government How many grants dld your ¢harlty re¢elve from ¢enlral yovernment or a lo¢al authorhy durltto the financial eriod for this return. Income breakdown Donations and le acies excludin Endowments Received Ch8rltsble actlvltles other tradin activities Investments £151,944 other Corporate donations What was the value of your charIt￿$ slngle hlghest value donatlon recelved from a corporate donor durin the financial riod of this return. Donations from individuals What was the value of your CharIty￿ slngle hlghest value donatlon recelved from an Indlvldual duriny the financial period of thi5 return. Donations from related parties What was the value of your CharIty￿ slngle hlghest value donatlon recelved from a related party durin th• finaneial •riod Of this r•turn? Grantmaking rant makln the maln wa ur charl carrles out Its purposes? Yes Re¢lplent$ of grants Please round all figures to th8 near85t pound Ido not 8nt8r decimal points or comma51. Indlvldual$ 0th8r charities other o £7,142 anisation5 that are not charitie5 Grant recipients related parties Are any of the grant reclplents related partles to the charlty? No Trustge paymgnt$ Excluding out of pocket expens85, for what wero any of the trustees paid during the financial perlod for thls return? e. None of the trustees have been paid Did any of the truste85 resign and take up employment with your charity in the financial period of Ihls return? No Income from outside the UK Did your charlly re¢elve In¢ome from outslde ol the Unlted Kln9d•m In the Ilnanclal perlod ol thls return? No Delivering activities outside the United Kingdom Dirf YOUT charity deliver charitable activities outside of the United Kingdom in the financial period of this return7 No Spandlng outslda England & Wales Did ur ¢haril s nd funds a4￿ld# ot thè Unil•d Kin dom in th• tinancial •riod of this r•turn? Total Spendln outslde En land & Wales Tradlng subsldlarles Does the charit have an tradin subsidiari857 Charity contact details correct 1$ the ¢ottta¢t address dl$played from Ihe Reglster ol Charllles. ¢•rre¢t? Yes Charlty headquarters detalls ¢orrect Is this the same address that you use as your charity's administrative headquarters? Yes Charity contact address Address Line 1 283 DOVER HOUSE ROAD Address Llne 2 LONDON Addr8S5 Lin8 3 Add￿$$ Line 4 Address Line S Postcode SW15 5BN count Charity Headquarters address Addre55 Line 1 283 DOVER HOUSE ROAD Address Llne 2 LONDON Addr8S5 Lin8 3 Add￿$$ Line 4 Address Llne S Postcode SW15 5BN Count Membership type Is the charlty part of a wlder group structure wlth a parent body and subsldlary bodles? no, the charity is not part of a wider group 8tructure Employment contract typas People were permanently employed by your charity Peo le were on flxed-terms contracts wlth our charl Sglf4mploygd pgoplg warg working foryour charity Governancè policies Intornal charity financial controls policy and procedur85 Y8S Safe Yes uardln oll¢ and rocedures Financi81 rese￿@8 polic Yes and procedures Complaint5 policy and procedures Y8S Serlous In¢ldent re Yes ortln and ro¢edure$ Internal risk management policy and procedures Yes Tru5te8 ex Y8S nses and rocedur85 Tru5te8 conflict5 of interest olic Y8S and rocedures Investlng charlty funds pollcy and procedures Yes C8mpai Yes ns and political 8Ctivity polic and procedure8 Bullying and haras5rnent policy and procedures Not applicable Soclal meilla poll¢ Not applicable and pro¢edure$ Engaging extemal speakers at charity events policy and procedures Not applicable Safeguarding Has your charity provided services to children andlor adult5 at risk in the financial period of the return? Serious Incidents Has your ¢harity r•portod all Sèrious In¢id•nts lin¢luding any hi$tori¢al in¢id•nls) that tho ¢harity became aware of durlng the flnanclal perlod of thls return? There were no incidents lo ￿port External rlsk and Impact Donations UnknownlNo ChangelNotApplicable Other Income- grants UnknownlNo ChangelNotAppli¢able other income- contract5 UnknownlNo Chang8lNotApplicab18 Other In¢ome- Investment UnknownlNo ChangelNot Applicable enditure on charitable activities UnknownlNo ChangelNotApplicable Expenditure on ovetheads UnknownlNo ChangelNotApplicable Number of volunteers UnknownlNo ChangÈlNotApplicable Numb•r Of •m UnknownlNo ChangelNotApplicable Number of trustee8 UnknownlNo ChangelNotApplicable Fundraisin activities UnknownlNo Chang8lNotApplicab18 acit to deliver service5 UnknownlNo ChangelNotApplicab18 Total $ervl¢e demand UnknownlNo ChangelNot Applicable Volunteers Excluding trusteesi provid8 an estimate of the number of volunteers who carried out charitable a¢tlvltle$ on behalf of ¢harlty In the Unlled Klnyd•m durlnu the tlnan¢lal perlod ot Ihl$ return. 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