Company Registration Number - 06433339
The Charity Registration Number is :- 1124079
Up and Under Foundation
Revised Report and Accounts
31 May 2024
Up and Under Foundation Revised Accounts For the year ended 31 May 2024
These revised annual accounts replace the original annual accounts for the year ended 31 May 2024.
They are now the statutory accounts of the company for the year ended 31 May 2024.
The revised annual accounts have been prepared as at the date of the approval of the original annual accounts and not as at the date of revision and accordingly do not deal with events between those dates.
The original accounts did not include the Independent Examiners report nor the statement on the Balance Sheet confirming that an independent Examination had taken place.
Up and Under Foundation
Report and accounts for the year ended 31 May 2024
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Accountants' report | 6 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 8 | |
| Statement of total recognised gains and losses | 9 | |
| Income and Expenditure account | 12 | |
| Balance sheet | 13 | |
| Notes to the accounts | 14 |
Up and Under Foundation
Company Registration Number - 06433339
Trustees' Annual Report for the year ended 31 May 2024
The Trustees present their Report and Accounts for the year ended 31 May 2024, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- Up and Under Foundation.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1124079.
.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated
21 November 2007
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are:-
Coppice House Quakers Coppice, Crewe Cheshire, CW1 6FA
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
The Trustees in office on the date the report was approved were:-
A Fewtrell L Fewtrell C Bromiley
The following persons served as Trustees during the year ended 31 May 2024 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
At the Annual General Meeting C Bromily retires as trustee, but is eligible for reappointment.
All the trustees are also members of the charity.
1
Up and Under Foundation
Company Registration Number - 06433339
Trustees' Annual Report for the year ended 31 May 2024
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
On the 28th April 2008 our objectives were clarified after a recommendation from the charity Commission. They are:
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To advance the education of the public and in particular, but not exclusively, young people as the trustees see fit.
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To relieve hardship, either generally or individually, through the provision of grants, goods or services.
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To provide and assist in the provision of facilities for recreation and other leisure time occupation for individuals who have need of such facilities by reason of their youth, infirmity, disablement, financial hardship, social and economic circumstances, or for the public at large, in the interest of social welfare with the object of improving their conditions of life.
The Trustees are satisfied that the activities undertaken by the charity meet the objectives set out in its objectives and policies.
The main activities undertaken in relation to those purposes during the year.
Charitable activities
As a charity our activities break down, principally into two parts:
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Providing grant funding for the benefit of individuals or groups in accordance with the objectives and aims above and raising/managing the funds needed to make the grants.
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In addition, we often act as an informal 'matchmaker' between various groups and individuals in the local community in a way that further benefits disadvantaged youngsters in ways beyond our reach.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
This financial year we were able to support a broad range of activities benefitting over 230 youngsters and, in some cases, their parents. We have three bursaries aimed at supporting schools, scout groups and youth groups and we were able to fund activities in all these areas.
Schools: The charity supported two primary schools (Acton and Warmingham) to allow pupils to take part in outdoor activity residential trips. Adelaide school (a local special educational needs school) benefited from funding in order to support their summer enrichment activities.
Scouts: The charity supported two scouts from the 1st South West Cheshire group to attend their troop’s summer camp and also to take part in the pre-camp weekend. Seven scouts from the South West Cheshire area were given help to attend the International Scout Jamboree in South Korea.
Youth Groups : We have long-standing relationships with a number of local youth groups. This year we were able to support the Buddies/Oakhanger group with their summer activities and the YMCA with their Pocket Park summer holiday initiative which takes place on four days in the summer school holidays. Our contribution to activities allowed a climbing wall to be hired for the final event, which according to feedback from the participants, was very well received and made the activities so much more memorable and special.
Outdoor activities included kayaking, raft building, coasteering, bush craft, forest days and climbing. Feedback from the recipients was very positive and strongly suggested that participation in the trips improved the self-confidence and well-being of the youngsters as well as being great fun and providing a great deal of joy.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
2
Up and Under Foundation
Company Registration Number - 06433339
Trustees' Annual Report for the year ended 31 May 2024
The main achievements and performance of the charity during the year.
We were able to support over 230 youngsters, from deprived or challenging environments, to take part in a range of activities that supported life-skills, confidence building and improving mental health and well-being. The youngsters from these schools, scouts and youth groups were able to take part in activities that they would have been deprived of without our support. In addition, we have committed funds (£2,040) to two youth groups for summer activities taking place in the next financial year.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
Trustees are appointed by the members of the company as required and in accordance with the processes set out in the Articles of Association. The Trustees meet as required by the needs of the Charity and at least three times a year to support the grant funding application process, this may be done virtually or by email discussion.
The policies and procedures for the induction and training of trustees.
New Trustees undergo an orientation to brief them on: Their legal duties under company and charity law; future plans for and the recent financial results of the charity.
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role within the charity. Charity Commission updates are shared with all the Trustees.
Financial review
The charity's financial position at the end of the year ended 31 May 2024
The financial position of the charity at 31 May 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Designated Revenue Funds Total Unrestricted Funds Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2024 £ 29,173 22,134 233,720 255,854 255,854 |
2023 £ 6,185 |
|---|---|---|
| 11,946 214,735 |
||
| 226,681 | ||
| 226,681 |
Financial review of the position at the reporting date, 31 May 2024 .
The trustees consider the financial performance by the charity during the year to have been satisfactory. Funds are received from investment returns, regular individual donations and periodic corporate donations from a variety of organisations. Income has been sufficient to meet grant applications and the charity's running costs without dipping into the legacy investment reserves.
Policies on reserves.
It is the policy of the charity to establish a capital sum from which generated income will be made available to a range of projects and causes meeting the aims and objectives of the charity.
3
Up and Under Foundation
Company Registration Number - 06433339
Trustees' Annual Report for the year ended 31 May 2024
Availability and adequacy of assets of each of the funds
The Board of Trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Investment policy and investment objectives.
The charity's early funding came from donors who requested that the money be invested to create a legacy fund with the aim of providing annual investment income to the charity which can be used to pay grant awards. The investment portfolio is regularly reviewed by the Trustees and covers a range of investment funds including Equity, Property, Fixed interest and Cash.
Where cash builds up in the current bank account from general fundraising activities it is potentially reassigned to the designated legacy fund (which contains the majority of the charity's cash and investment balances) or utilised for projects and activities that the charity is working on delivering at that time.
Statement of the Directors ' and Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
4
Up and Under Foundation Company Registration Number- 06433339 Trustees, Annual Report for the year ended 31 May 2024 The Tnjstees arg also responsible for the eonlents of the Trusl8es' rgport. and the stslutory responsibility of the Independent Examiner in relation to the Trustees. port is limrted to examining the report and ensuring that . on the face of the report. there are no material inconsistencies with the figures disdosed in the financial slalements. Method of preparation of accounts - Small company provlsions The financial s181ements are set out on pages 8 10 21. The financial slalements have been prepared implementing the FRS 102 SORP Istalemenl of Recommended Practice for Accounting and Reporting by Charities12019. applicable to all ac¢ounting periods beginning on or after 1st January 20191, {The SORPI. and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) These financial slalernents have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable lo companies subjecl to the sm211 mpanieS regime. This report was approved b the ard of trustees on 28 November 2024. A FEWTRELL Director and TTUStee
Up and Under Foundation
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 May 2024
I report to the Trustees on my examination of the financial statements of the charitable company on pages 8 to 21 for the year ended 31 May 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 14.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 4, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
6
Up and Under Foundation
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
Signed:
Sharon Joyce - Independent Examiner
Chartered Certified Accountant
9 Vicarage Gardens
Sandbach Cheshire CW11 3BZ
This report was signed on 28 November 2024
7
Up and Under Foundation - Statement of Financial Activities for the year ended 31 May 2024
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 May 2024, as required by the Companies Act 2006)
| Current year Unrestricted Funds 2024 £ Income & Endowments from: Donations & Legacies A1 10,965 Investments A4 4,060 Total income A 15,025 Expenditure on: Charitable activities B2 9,907 Total expenditure B 9,907 Net gains on investments B4 24,055 Net income for the year 29,173 Net income after transfers A-B-C 29,173 29,173 Reconciliation of funds:- E Total funds brought forward 226,681 Total funds carried forward 255,854 Net movement in funds SORP Ref |
Current year Restricted Funds 2024 £ - - - - - - - - - - - |
Current year Total Funds 2024 £ 10,965 4,060 15,025 9,907 9,907 24,055 29,173 29,173 29,173 226,681 255,854 |
Prior Year Total Funds 2023 £ 14,230 1,994 |
|---|---|---|---|
| 16,224 | |||
| 6,177 | |||
| 6,177 | |||
| (3,862) | |||
| 6,185 | |||
| 6,185 | |||
| 6,185 220,496 |
|||
| 226,681 |
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
The notes attached on pages 14 to 21 form an integral part of these accounts.
8
Up and Under Foundation - Statement of Financial Activities for the year ended 31 May 2024
Statement of Total Recognised Gains and Losses for the year ended 31 May 2024
| Surplus for the year :- Income from operations before tax in the Statement of Financial Activities Add/(deduct) non income and expenditure items:- Unrealised gains on investments Net Movement in funds before taxation Funds generated in the year as shown on Statement of Financial Activities Net excess of income over expenditure from operations before tax |
2024 £ 5,118 5,118 24,055 29,173 29,173 |
2023 £ 10,047 |
|---|---|---|
| 10,047 (3,862) |
||
| 6,185 | ||
| 6,185 | ||
The notes attached on pages 14 to 21 form an integral part of these accounts.
9
Up and Under Foundation - Statement of Financial Activities for the year ended 31 May 2024
Up and Under Foundation - Resources applied in the year ended 31 May 2024 towards fixed assets for Charity use:-
| assets for Charity use:- | ||
|---|---|---|
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities |
2024 £ 5,118 5,118 |
2023 £ 10,047 |
| 10,047 |
The notes attached on pages 14 to 21 form an integral part of these accounts.
10
Up and Under Foundation - Statement of Financial Activities for the year ended 31 May 2024
Movements in revenue and capital funds for the year ended 31 May 2024
Revenue accumulated funds
| Revenue accumulated funds | ||||
|---|---|---|---|---|
| Accumulated funds brought forward Closing revenue funds Recognised gains and losses before transfers |
Unrestricted Funds 2024 £ 226,681 29,173 255,854 255,854 |
Restricted Funds 2024 £ - - - - |
Total Funds 2024 £ 226,681 29,173 255,854 255,854 |
Last year Total Funds 2023 £ 220,496 6,185 |
| 226,681 | ||||
| 226,681 |
Designated revenue funds included within the unrestricted funds above
| At 1 June Movement in funds At 31 May |
Total Funds 2024 £ 214,735 18,985 233,720 |
Last year Total Funds 2023 £ 217,813 (3,078) |
|---|---|---|
| 214,735 |
The purposes for which these funds have been designated are described in Note 13 to the accounts.
| Summary of funds Unrestricted and Designated funds 2024 £ Revenue accumulated funds 22,134 Revenue designated funds 233,720 Total funds 255,854 |
Restricted Funds 2024 £ - - - |
Total Funds 2024 £ 22,134 233,720 255,854 |
Last Year Total Funds 2023 £ 11,946 214,735 |
|---|---|---|---|
| 226,681 |
The notes attached on pages 14 to 21 form an integral part of these accounts.
11
Up and Under Foundation - Statement of Financial Activities for the year ended 31 May 2024
Up and Under Foundation
Income and Expenditure Account for the year ended 31 May 2024 as required by the Companies Act 2006
| Income Income from operations Income from investments, other than interest receivable Interest receivable Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Realised losses on disposals of social investments which are programme related Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year All activities derive from continuing operations Net income after tax in the financial year Net income before tax in the financial year Investment income |
2024 £ 10,965 2,048 2,012 15,025 15,025 9,907 - 9,907 5,118 - 5,118 5,118 |
2023 £ 14,230 828 1,166 |
|---|---|---|
| 16,224 | ||
| 16,224 | ||
| 6,177 - |
||
| 6,177 | ||
| 10,047 - |
||
| 10,047 | ||
| 10,047 | ||
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 14 to 21 form an integral part of these accounts.
12
Up arKI Under Foundation - Balance Sheet as at 31 May 2024 SORP Note Ref 2024 2023 Fued assets In¥estswts held as fixed assets 205.660 177,545 Current assets Cash at bank and in hand 50.704 49,636 Creditors: amounts falling due within one year 8 C1 15101 15001 Net current assets 50.194 49.136 The totsl net assets of the charity 255,854 226,681 The total net a8s•ts of the charity are funded by tho funds of the charity. as follows:. Unrestrided Funds Unrestrided Revenue Funds 11 D3 22,134 11,946 22,134 11.946 Designated Funds Designated Revenue Funds 11 D3 233,720 214.735 233.720 255,854 214,735 226,681 Totsl charlty funds The 'SORP Ref indicated above is the dassffication of Balance Sheet rtems as set out in the fomial SORP do¢uments. As required by paragraph 4.60 of the SORP. the brought forward and carrbed fOard funds above have been agreed to the SOFA.. The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audil under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in a¢cordance with section 476 of the Act. The directors acknowledge their responsibilities for complying wth the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of accounts. The charity is subject to Independent Examination under charity legislab"on. and the report of the Independent Examiner is on pages 6 and 7. The financial slatements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable lo companies subject lo the small companies regime. A FEwfRELL Trustee Approved by the board of trustees on 28 Novemt*r 2024 The notes attached on pag•s 14 to 21 fomi an integral part of these accounts. 13
Up and Under Foundation
Notes to the Accounts for the year ended 31 May 2024
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 May 2025, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
As with all charities that rely on public donations and investment performance, the cost of living crisis and uncertain financial markets create uncertainty around income for the next financial year. It is also still difficult to predict future grant applications although an upturn in activities has been seen over the current year and discussions are ongoing with a number of activity providers around their future plans to deliver programmes.
Policies relating to categories of income and income recognition.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
14
Up and Under Foundation
Notes to the Accounts for the year ended 31 May 2024
Policies relating to assets, liabilities and provisions and other matters.
Fixed Asset Investments
Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.
All gains on fixed asset investments, whether realised or unrealised, are included in row B4 of the Statement of Financial Activities.
Creditors and provisions
Creditors and provisions for liabilities and charges are accrued for at the financial year end based on balances outstanding to creditors or charges estimated as due for any accruals.
Financial instruments including cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Significance of financial instruments to the charity's position
The charity does not make use of complex financial instruments e.g. Hedging Funds. The charity's funds are held either in a bank account as cash or invested within unit trust portfolios.
15
Up and Under Foundation
Notes to the Accounts for the year ended 31 May 2024
5 Investment gains
| Current Year Unrealised gains /(losses) and writing down of carrying Listed investments - Unrealised Total unrealised gains/(losses) etc Total realised and unrealised gains All the gains and losses in the prior year was unrestricted. Prior year Unrealised gains /(losses) and writing down of carrying Listed investments - Unrealised Total unrealised gains/(losses) etc Total realised and unrealised gains |
Current year Unrestricted Funds 2024 £ values 24,055 |
Current year Restricted Funds 2024 £ - |
Current year Total Funds 2024 £ 24,055 |
Prior Year Total Funds 2023 £ (3,862) |
|---|---|---|---|---|
| 24,055 | - | 24,055 | (3,862) | |
| 24,055 | - | 24,055 | (3,862) | |
| Prior Year Unrestricted Funds 2023 £ values (3,862) |
Prior Year Restricted Funds 2023 £ - |
Prior Year Total Funds 2023 £ (3,862) |
||
| (3,862) | - | (3,862) | ||
| (3,862) | - | (3,862) |
6 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
7 Investments held as fixed assets
| Carrying values of investments At 1 June 2023 Additions Revaluation at 31 May 2024 At 31 May 2024 Analysis between fair value and historical cost Investments as above held at fair value 8 Creditors: amounts falling due within one year Accruals |
Investments in subsidiaries £ - - - |
Listed investments £ 177,545 4,060 24,055 |
Other Classes of Investment £ - - - |
Total £ 177,545 4,060 24,055 |
|---|---|---|---|---|
| - | 205,660 | - | 205,660 | |
| - | 205,660 | - 2024 £ 510 |
205,660 2023 £ 500 |
16
Up and Under Foundation
Notes to the Accounts for the year ended 31 May 2024
| 9 Income and Expenditure account summary 2024 £ At 1 June 2023 230,543 Surplus after tax for the year 5,118 At 31 May 2024 235,661 10 Particulars of how particular funds are represented by assets and liabilities At 31 May 2024 Unrestricted Designated Restricted funds funds funds £ £ £ Investments at valuation:- Fixed asset investments - 205,660 - Current Assets 22,644 28,060 - Current Liabilities (510) - - 22,134 233,720 - At 1 June 2023 Unrestricted Designated Restricted funds funds funds £ £ £ Investments at valuation:- Fixed asset investments - 177,545 - Current Assets 12,446 37,190 - Current Liabilities (500) - - 11,946 214,735 - 11 Change in total funds over the year as shown in Note 10 , analysed by individual funds Funds brought forward from 2023 Movement in funds in 2024 See Note 12 £ £ £ Unrestricted and designated funds:- Unrestricted Revenue Funds 11,946 29,173 (18,985) Designated Revenue Funds 214,735 - 18,985 Total unrestricted and designated funds 226,681 29,173 - Total charity funds 226,681 29,173 - Transfers between funds in 2024 |
9 Income and Expenditure account summary 2024 £ At 1 June 2023 230,543 Surplus after tax for the year 5,118 At 31 May 2024 235,661 10 Particulars of how particular funds are represented by assets and liabilities At 31 May 2024 Unrestricted Designated Restricted funds funds funds £ £ £ Investments at valuation:- Fixed asset investments - 205,660 - Current Assets 22,644 28,060 - Current Liabilities (510) - - 22,134 233,720 - At 1 June 2023 Unrestricted Designated Restricted funds funds funds £ £ £ Investments at valuation:- Fixed asset investments - 177,545 - Current Assets 12,446 37,190 - Current Liabilities (500) - - 11,946 214,735 - 11 Change in total funds over the year as shown in Note 10 , analysed by individual funds Funds brought forward from 2023 Movement in funds in 2024 See Note 12 £ £ £ Unrestricted and designated funds:- Unrestricted Revenue Funds 11,946 29,173 (18,985) Designated Revenue Funds 214,735 - 18,985 Total unrestricted and designated funds 226,681 29,173 - Total charity funds 226,681 29,173 - Transfers between funds in 2024 |
9 Income and Expenditure account summary 2024 £ At 1 June 2023 230,543 Surplus after tax for the year 5,118 At 31 May 2024 235,661 10 Particulars of how particular funds are represented by assets and liabilities At 31 May 2024 Unrestricted Designated Restricted funds funds funds £ £ £ Investments at valuation:- Fixed asset investments - 205,660 - Current Assets 22,644 28,060 - Current Liabilities (510) - - 22,134 233,720 - At 1 June 2023 Unrestricted Designated Restricted funds funds funds £ £ £ Investments at valuation:- Fixed asset investments - 177,545 - Current Assets 12,446 37,190 - Current Liabilities (500) - - 11,946 214,735 - 11 Change in total funds over the year as shown in Note 10 , analysed by individual funds Funds brought forward from 2023 Movement in funds in 2024 See Note 12 £ £ £ Unrestricted and designated funds:- Unrestricted Revenue Funds 11,946 29,173 (18,985) Designated Revenue Funds 214,735 - 18,985 Total unrestricted and designated funds 226,681 29,173 - Total charity funds 226,681 29,173 - Transfers between funds in 2024 |
2024 £ 230,543 5,118 |
2023 £ 220,496 10,047 |
|---|---|---|---|---|
| 235,661 | 230,543 | |||
| Restricted funds £ - - - |
Total Funds £ 205,660 50,704 (510) |
|||
| 22,134 | 233,720 | - | 255,854 | |
| Unrestricted funds £ - 12,446 (500) |
Designated funds £ 177,545 37,190 - |
Restricted funds £ - - - |
Total Funds £ 177,545 49,636 (500) |
|
| 11,946 | 214,735 | - | 226,681 | |
| Funds carried forward to 2025 £ 22,134 233,720 |
||||
| 226,681 | 29,173 | - | 255,854 | |
| 226,681 | 29,173 | - | 255,854 |
10 Particulars of how particular funds are represented by assets and liabilities
11 Change in total funds over the year as shown in Note 10 , analysed by individual funds
17
Up and Under Foundation
Notes to the Accounts for the year ended 31 May 2024
12 Analysis of movements in funds over the year as shown in Note 11
| Unrestricted and designated funds:- Unrestricted Revenue Funds Designated Revenue Funds |
Income 2024 £ 15,025 |
Expenditure 2024 £ (9,907) |
Other Gains & Losses 2024 £ 24,055 |
Movement in funds 2024 £ 29,173 - |
|---|---|---|---|---|
| 15,025 | (9,907) | 24,055 | 29,173 |
13 The purposes for which the funds
Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
These Funds are held to meet the objectives of the charity, and to provide reserves which generate income to fund future activities. Subject to charity Designated Revenue Funds legislation these funds have been designated by the Trustees to be used for a variety of projects and activities currently being planned by the Trustees.
14 Ultimate controlling party
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
18
Up and Under Foundation
Detailed analysis of income and expenditure for the year ended 31 May 2024 as required by the SORP 2015
This analysis is classified by conventional nominal descriptions and not by activity.
15 Donations, Grants and Legacies
| Donations and gifts from individuals Total donations and gifts from individuals A1nspect Total private sector revenue grants Up and Under Ltd Revenue grants and donations from non public bodies RSK Small donations individually less than £1000 |
Current year Unrestricted Funds 2024 £ 965 |
Current year Restricted Funds 2024 £ - - Current year Restricted Funds 2024 £ - - - - |
Current year Total Funds 2024 £ 965 965 Current year Total Funds 2024 £ 10,000 - - 10,000 |
Prior Year Total Funds 2023 £ 1,130 |
|---|---|---|---|---|
| 965 | 1,130 | |||
| Current year Unrestricted Funds 2024 £ 10,000 - - |
Prior Year Total Funds 2023 £ - 3,100 10,000 |
|||
| 10,000 | 13,100 |
Revenue grants and donations from non public bodies (Include Gift Aid donations from subsidiaries) - Prior Year analysis
| Year analysis | ||||
|---|---|---|---|---|
| Total Donations, Grants and Legacies Total Donations, Grants and Legacies A1 16 Investment income Dividend Income Non Bank interest receivable Total investment income A4 |
Prior Year Unrestricted Funds 2023 £ |
Prior Year Restricted Funds 2023 £ |
Prior Year Total Funds 2023 £ |
|
| 10,965 | - Current year Restricted Funds 2024 £ - - - |
10,965 Current year Total Funds 2024 £ 2,048 2,012 4,060 |
14,230 | |
| Current year Unrestricted Funds 2024 £ 2,048 2,012 |
Prior Year Total Funds 2023 £ 828 1,166 |
|||
| 4,060 | 1,994 |
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Up and Under Foundation
Detailed analysis of income and expenditure for the year ended 31 May 2024 as required by the SORP 2015
17 Expenditure on charitable activities- Grant funding of activities
| Current Year Total grant making costs B2c Current Year Acton 1st SWC Scouts SWC Jamboree Warmingham Oakhanger Adelaide School YMCA Oakhanger Warmingham Breakdown of Grants made to organisations Prior Year Manor Hall Buglawton Oakhanger Pear Tree Warmingham Grants made to organisations Breakdown of Grants made to organisations |
Current year Unrestricted Funds 2024 £ 9,130 |
Current year Restricted Funds 2024 £ - - Current year Restricted Funds 2024 £ - - - - - - - - - - Prior Year Restricted Funds 2023 £ - - - - - - |
Current year Prior Year Total Funds Total Funds 2024 2023 £ £ 9,130 5,433 |
|---|---|---|---|
| 9,130 | 9,130 5,433 |
||
| Current year Unrestricted Funds 2024 £ 495 620 700 45 875 4,000 1,500 825 70 |
Current year Total Funds 2024 £ 495 620 700 45 875 4,000 1,500 825 70 9,130 Prior Year Total Funds 2023 £ 3,000 150 1,700 290 293 5,433 |
||
| 9,130 | |||
| Prior Year Unrestricted Funds 2023 £ 3,000 150 1,700 290 293 |
|||
| 5,433 |
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Up and Under Foundation
Detailed analysis of income and expenditure for the year ended 31 May 2024 as required by the SORP 2015
18 Support costs for charitable activities
| 18 Support costs for charitable activities |
||
|---|---|---|
| Current year Current year Current Year Unrestricted Funds Restricted Funds 2024 2024 £ £ Administrative overheads 219 - Professional fees paid to advisors other than the auditor or examiner 510 - 48 - Support costs before reallocation 777 - Total support costs - Current Year 777 - The basis of allocation of costs between activities is described under accounting policies All the expenditure in the prior year was unrestricted. Administrative overheads Other legal and professional Liabilty and contents insurance Accountancy fees other than examination or audit fees |
Current year Total Funds 2024 £ 219 510 48 |
Prior Year Total Funds 2023 £ 209 500 35 |
| 777 777 |
744 | |
| 744 | ||
| - - - |
The basis of allocation of costs between activities is described under accounting policies
19 Total Charitable expenditure
| Current Year Total grant making costs B2c Total support costs B2d Total charitable expenditure B2 All the expenditure in the prior year was unrestricted. Prior Year Total grant making costs B2c Total support costs B2d Total charitable expenditure B2 |
Current year Unrestricted Funds 2024 £ 9,130 777 |
Current year Restricted Funds 2024 £ - - - Prior Year Restricted Funds 2023 £ - - |
Current year Total Funds 2024 £ 9,130 777 9,907 Prior Year Total Funds 2023 £ 5,433 744 |
Prior Year Total Funds 2023 £ 5,433 744 |
|---|---|---|---|---|
| 9,907 | 6,177 | |||
| Prior Year Unrestricted Funds 2023 £ 5,433 744 |
||||
| 6,177 | - | 6,177 |
21