Registered number: 03825425
Charity number: 1124936
THE BENJAMIN FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent auditors, report on the financial statements
Consolidated statement of financial activities
2-10
15
Consolidated balan¢e sheet
16-17
Charity balance sheet
Consolidated statement of cash flows
18-19
20
Notes to the financial statements

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
J Francis (resigned 18 September 2023)
T Harvey
M Wardell
J Mcculloch, Chair
S Massingham
J Hutchinson (resigned 7 November 2023)
M Townsend {appointed 19 July 2023)
S Matthews (appointed 31 January 2024)
Company registered number
03825425
Charity registered number
1124936
Registered office
23-27 St Andrews Slreet, Norwich, Norfolk, NR2 4TP
Independent auditors
Larking Gowen LLP, 1st Floor, Prospect House, Rouen Road, Nowich, NR1 1RE
Bankers
HSBC, 18 London Street, NoriNich, Norfolk, NR2 1 LG
Solicitors
Nicholsons SoliGltors, Prospect House, Norwich, NR11 RE
Page 1

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees confirm that the Annual report and financial statements of Ihe charitable company comply with
the current statutory requirements, the requirements of the charitable company's governing document and the
provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS102).
Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the group
strategic report required of medium and large Companies under the Companies Act 2006 (Strategic Report and
Directors, Report) Regulations 2013 has been omilled.
Objectives and activities
a. Our objectlves
The objects of The Benjamin Foundation, as set out in its governing documents, are..
a) To promote the benefit of the inhabitants of Norfolk and surrounding areas without distinction of gender,
political, religious or other opinions, by associaling the local authorities, voluntary organisalions and the
inhabitants in a Gommon effort to advance education and provide facilities and services in the interest of social
welfare with the object of improving the conditions of life of the said inhabitants.
bl The relief of homeless people and those at risk of homelessness and the promotion of independent living.
The Trustees have regard lo these objectives and the Charity Commissioner's guidance on public benefit. The
trustees are satisfied that the report demonstrates Ihat the charity is fulfilling these objectives and provides
significant public benefit.
b. Who we are and what we do
The Benjamin Foundation has operated in Norfolk since 1994 and in Suffolk since 2016.
The Benjamin Foundation supports children and young people, and their families and wider communilies. We
provide stabilily, opportunity and hope for those facing challenges and help them move towards independence.
We are responsive to Ihe needs of children and young people and pla￿ them at the heart of our service
delivery.
The young people we support matter to us and we are accepting of all.
We are caring and non judgemenlal, and listen and respond to the needs of each young person. We offer
support al moments of need, and strive for excellence in everything we do.
We are agile, adaptable and entrepreneurial and have a proven reputation for providing high quality and
reliable support.
We are a leading provider of supported accommodation in Norfolk and Suffolk. We give young people at risk of
homelessness somewhere lo live, we help to stabilise Iheir lives and learn to live healthily, and we help them
into training and employment. We aim lo give them a sense of belon9ing and help them thrive.
We work with local commissioners and landlords to expand the supply of supported accommodation for young
people, partnering with loGal housing associalions including Clarion, Flagship, Freebridge, OMeS1, Saffron and
Solo, and other social landlords and investors.
TBF was a founder member of the national coalition of youth homelessness charities 'End Youth,.
Page 2

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 3d MARCH 2024
Objectives and activities Icontinuedl
Homelessness,, this fundraising membership organisation transitioned from its previous administrator and
achieved charitable status in its own right in February 2023, the new entity 'Every Youth, (EYI exists to help the
most disadvantaged young people succeed in life, youth homelessness is their chosen indicator of
disadvantage, EY'S principle aim is to fundraise on behalf of member charities.
We believe that eady inteNention is the most effective way to help young people become independent so we
provide a range of children, youth and community setvices. We are a leading provider of schools based
emotional wellbeing support and Young Carer support in Norfolk and regularly support young people with other
vulnerabilities.
We provide youth and community seNices, including our Meet Up communily centre on the Redcastle Furze
estate in Thetford as well as youth clubs in North West Norfolk and Watton, recognising these services are
highly dependent on third sector organisations such as osjrs.
We run a nursery and a pre school along with wrap around childcare provision with particular focus on providing
high quality affordable childcare.
Our mix and choice of services is a pragmatic and sometimes opportunistic response to need and available
funding. The range and diversity of our services increases our impact and our sustainability.
We invest in a range of non commissioned setvices funded by our trading, fundraising and bid writing activities
and also by existing unrestricted reserves
Our trading subsidiary, Bens Social Enterprise, is run for profit and invests all ils surpluses in our charitable
activities. BSE is a member of the national Reuse Network and recycles furniture, white goods and household
items, working as an independent retailer in Norfolk and in partnership with Suffolk County Council and Iheir
waste contractor FCC Environmental.
The need for our services
Young people, families and communities are still living with the negative consequences of the Covid 19
pandemic and associated lockdowns. Research by many organisations shows the ongoing mental health impact
is severe. For example, the Children's Commissioner recorded a surge in demand for mental health support
among young people as lockdown eased, with a worryingly high level of sustained need emerging, and notably
among girls and young women. The opportunity to pilot and then continue mental health support across our
housing services thanks to funding from Every Youth has been especially welcome.
The number of children missing school regularly has more than doubled compared to pre pandemic because of
complex, interrelated issues around mental health, the need for specialist support in school and family
circumstances. There is a strong link between non attendance, poor GCSE attainment and reduced
employment prospects. School absence has become endemic in Key Stage 4. Over the last couple of years,
over a third of all pupils in Key Stage 4 were either persistently or severely absent for al least one year.
Preparing young people for school and support for transition from one education stage to the next and slaying
engaged in education remains vital.
The cost of living crisis followed hol on the pandemic's heels. The fourth Joseph Rowntree Study in its
Destitution in the UK series, reveals approximately 3.8 million people experienced destitution in 2022, including
around one million children. This is almost two and a half times the number of people in 2017, and nearly triple
the number of children. Affordable living and the ability lo live independently is a real challenge for the worse
off. Family breakdown, which the crisis has fuelled, remains the biggest cause of youth homelessness.
It is sadly no surprise, therefore, that The Benjamin Foundation continues to see a high demand for all the
Page 3

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities (continued)
services and support it provides, in common wilh many charities locally and further afield.
d. Our Impact
The charity supported 3,855 people aoross Norfolk and Suffolk in the year ending 31 March 2024, an increase
of 30/. from the previous year. Many of our ServI￿S saw increased demand, whether in numbers of service
users or in the complexity of the support they needed over a longer period of time.
Our accommodation services delivered 62,973 safe nights and housed 320 children and young people, 20/0
more than last year.
Our supplementary housing seNices supported 537 people, 17 /0 more than last year. These services include
job coaching, rent deposit and tenancy support funded by Every Youth, and the Sustainable Housing
Partnership Service {SHPS) co ordinaled by Norfolk County Council and funded by Bridges Finance. SHPS
supports single people secure and sustain their tenancies. The charity provides SHPS in Wesl and North
Norfolk and Breckland.
Our children, youth and community services delivered 15,664 support sessions for 2024, an increase of 19°/o on
the previous year.
Our trading subsidiary Bens Social Enlerprises sold or recycled 120,718 items and reused 558 tonnes of
household waste during the year. We provided 1,034 people with household items funded by the Norfolk
Assistance Scheme {NASI, a 14.10 increase on the previous year. We also prevented 760 tons of Co2 being
released into the atmosphere during the year.
Our service user numbers are summarised as follows..
2024
2023
/0 change
Accommodation
Young adulls
Children in care
Young asylum seekers
208
76
36
320
196
61
28
285
12/0
Supplementary housing services
Job coach
Rent deposit
Tenancy support
Sustainable Housing Partnership
75
94
30
338
537
75
93
43
249
460
17¥.
Children, youth and community
Emotional wellbeing
Young Carers
Community & youth seNices
Childcare
1044
415
249
456
1,964
1004
268
462
340
2,071
-5%
Ben's Social Enterprises
Norfolk Assistance Scheme
1,034
909
140/,
Total supported
3,855
3,728
Page 4

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectlves and activities (contlnuedl
e. Review of the year
This year has presented significant challenges for The Benjamin Foundation, just as it has for many other
charitable organisations. The large cost increases of recent years continues to negatively impact the charity,
our staff and service users.
As a result of the challenges faced, during the year the charity carried out a review of ils financial position and
as a result made various changes to its operating slructure. Unfortunately this led to a number of redundancies,
primarily in the central functions. We continue lo track our expenditure very closely to ensure that further staff
reductions can be avoided where possible whilst ensuring that our services are not adversely impacted.
We continued lo expand the portfolio of services we offer, responding to increasing demand and new needs,
working closely with commissioners and partners.
Our accommodation services now delivers a mix of affordable and supported housing from thirty two properties
across Norfolk and Suffolk.
We expanded our Suffolk accommodation service for unaccompanied asylum seekers. With extra
provision in Ipswich and new provision in Bury St Edmunds, we house 25 young asylum seekers.
As at the end of November 2024. 11 properties had been purchased using the loan facility with Social and
Sustainable Capital {SaSCI. This has signific8ntly expanded our Anchorage seNice in Great Yarmouth
and Lowestofl, increasing our housing capacity by 42 bed spaces
second Future Builder project is nearing completion in Dereham providing supeNised construction
experience and training, renovating two residenlial properties which once renovated will provide affordable
housing for six young people.
Reducing risk of homelessness for single adults, couples and families through delivery of Norfolk
Sustainable Housing Partnership Service {SHPS) in partnership with Bridges and local aulhorities, by
providing tenancy suppori and support to find suitable accommodation in Breckland, North and Wesl
Norfolk.
Our community, family and children's services continue to provide vital support for Ioc81 children and young
people.
In partnership with Norfolk County Council, we provide short break respite support for children with disabilities
from two centres in Attleborough and Kings Lynn.
Page 5

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and actlvities {continuedl
f. Future plans
Looking foNard, further expansion of our services is planned
As stated in section {e), in November 2024 we completed the final purchase under the Sasc facility. We
will consider further opportunities of this nature in the future.
In partnership with NO￿lch Quakers and Solo Housing, in May 2024 we opened our first supported housing
in NoNich providing accommodation for seven young people
Providing additional short break respite support for children with disabilities from a new venue in
Fakenham.
Providing more support for young carers and their families in new areas
Our future ambitions remain largely unchanged..
to support as many children and young people and families in need as we can
to collaborate with sector commissioners and peers to maximise our impact
lo fund and develop services that the public purse does not provide
to build our organisational capability, capacity and effectiveness
g. Risk Management
a. Safe
uardin
Given the services that the Charity provides, safeguarding of seNice users and staff is our most significant
operational risk. We have extensive policies and procedures to address this and safeguarding is a standin9
item at the Risk, Audit and PerformanGe Committee. We conduct Safer Recruitment Interviews for all relevant
positions, maintain up to data DBS checks and ensure appropriate controls are in place. Our executive
directors are active participants on local safeguarding partnership boards and we have a key focus on
workforce development. Our focus on safeguarding together with strong health and safety policy and procedure
pul us in a strong position.
b.or
anisational
Our principal organisalional risks are
evolving our Servi￿ provision to meet new and changing needs
wnning and retaining commissioned services
funding non-commissioned services
pricing and funding services on a sustainable breakeven basis
recruiting and retaining staff considering increasing national minimum wage requirements
sourcing and retaining property for our accommodation services
managing property lease commitments
complying with service contract and regulatory requirements
All of these risks are actively managed by the executive and corporate support team. Our mixed Se￿ICe model
ensures the charity is not overly reliant on one source funding and good financial controls including annual
service budgets and monthly management accounts provide a sound basis for effective management.
Page 6

THE BENJAMIN FOUNDATION
{A company Ilmited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities {continued}
We work wilh a range of external advisors where specialist knowledge is required notably for property and
health and safely, and we have a property subcommillee which meets biannually recognising that property
lease and rental commitmenls are our biggest cost after staff.
Financial review
a. Going concern
The Trustees have considered the charity's financial position and their confidence Ihat steps now taken will lead
to a strengthening of the reserves position. The Trustees also considered the signif icant deficit reported in the
year and the reduction in cash.
Increased cosls affecting staff wages, energy and building costs impact on the finances of the charity at this
time. As shown in these acGounts, during 2023124 the charity reported a reduction in funds of £551,994 and a
reduction in cash of £236,315. In response, over the last 12 months, we have implemented strong financial
measures to manage costs, while protecting setvice delivery. There is renewed focus on strong financial
management and strategic planning. Due to these measures, the charity expects to report an improved result in
24125, possibly a small surplus, followed by reserves increasing in 25126 and Ihereon.
Based on our current planning, the Trustees have concluded that they have a reasonable expectation that the
charity wtll have adequate resources to continue in operational existence for the foreseeable future, being at
least twelve months from the date of signing these financial slalements, and they therefore continue to adopt
the going concern basis of accounting in preparing these financia5 statements.
b. Reserves policy
ReseNes are that part of a charity's unreslricled funds that is freely available to spend on any of the charity's
purposes. This definition excludes tangible fixed assets held for the charity's use and amounts designated for
essential future spending. Al 31 March 2024, the charity had unrestricted funds of £1,351,768 (2023-
£1,862,221) and reslricted funds of £55,857 {2023.' £97,398). Al present free reserves, which are those
unrestricted funds not invested in fixed assets and excluding long term mortgage liabilities, amount to £209,981
(2023.. £815,995). The mortgages will be covered by future rental income and are therefore excluded from the
free reseNes calculalion.
Trustees, intention is lo maintain free reserves between £800,000 and £1,200,000. Given the significant fall in
free resetves during the year, the Trustees have already taken aGtion in reducing central costs and exiting poor
performing services. Having taken these steps. the Trustees are confident that the free reserves position will
improve going forward.
The charity prepares budgets to anticipate financial needs over the coming year and management accounts are
reviewed by the Trustees monthly.
The Trustees review free reserve targets as part of the annual budget process, to ensure that there is
appropriate funding in place to meet ongoing financial commitments, contingency plans to meet potential exit
costs for services that for strategic reasons we might choose to close or transfer to another owner, and financial
capacity to achieve the charity's strategic priorities for developing existing or establishing new seNices over the
next three to five years.
Page 7

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
c. Result for the year
As a result of Ihe difficulties faced over the last year, unrestricted reserves have fallen to £1,351,768.
Restructuring action was taken during 2023124 and further decisions are being laken lo improve or exit from
services where f inancial viabilily cannot be improved.
Income grew by 9,/0 to £8.7m, with trading income remaining stable al £1.6m. However the factors mentioned
above resulted in funds reducing to just over £1.4m and cash at bank decreased.
The Charity accounts for this year demonstrate an expanded portfolio of seNices each with differing funding
arrangements. The continuation of the drawdown from the £2.8m loan facility wlh Social and Sustainable
Capital lo purchase properties has led to an increase in tangible fixed assets.
There is evidence of a reduction in grant funding and the need to obtain increasing levels of unrestricted
funding in order to deliver core seNices. Facing increased costs associated with staff wages, energy and
building costs highlights the need for strong financial measures to manage costs going forward into the next
financial year.
d. Investments
Ben's Social Enlerprises Ltd, a wholly owned subsidiary company which has been established lo operate the
social enterprises arm of the Charity, operates three furniture re use stores and works in partnership to deliver a
further general re use store. During the year ended 31 March 2024, Ben's Social Enterprises Ltd amounted to
£1,526.297 (2023.. £1,588,622), with other income of £70,33212023: £101,770). A gift aid donation was made
lo the Benjamin Foundation in the period of £108,281 (2023.. £229,854).
Fundraising
Under Section 13 of the Charities (Protection and Social Investment) Act 2016, charities that are subject to
audit musl make specific statements in their annual reports that provide information about their fundraising
standards. Accordingly, the Trustees make the followng statements in complianGe with the requirements of the
Act..
All fundraising activities have been undertaken by the employees of the Charity or by supporters who have
chosen The Benjamin Foundation as their nominated charity for fundraising purposes.
The Chariiy has not used a professional fundraiser or commercial participator during the year ended 31
March 2024.
The Charity has undertaken to be bound by the Fundraising Standards Board and is a member of this
body.
We comply with the annual requirement to report to the Fundraising Standards Body and in our most recenl
report there were no instanGes where the Charity has failed to comply with Ihe requirements and a
complaint made.
There have been no complaints received by the Charity or any person acting on its behalf about activities
by the Charity or by a person on behalf of the Charity for the purpose of fundraising.
The Charity has protected vulnerable people and other members of the public from behaviour consliluting
unreasonable intrusion on a person's privacy
unreasonably persistent approaches for the purpose of soliciting or othenmise procuring money or other
property on behalf of the Charily, or
placing undue pressure on a person to give money or other property, in the course of, or in connection
with, such activities by avoiding the use of any fundraising practices that may be considered to give
effect to such behaviours.
Page 8

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Charity actively promotes and markets its fundraising events and activities, however. it is entirely a
voluntary matter for individuals, groups or businesses to decide whether they wsh lo participate in events or
make donations.
Structure, governance and management
Constitution
The Benjamin Foundation is registered as a charitable company limited by guarantee and was set up by a
Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the company and group is the responsibility of the Trustees who are appointed and co
opted under the terms of the Articles of Association. The Trustees, who represent a wide cross section of the
County and have different backgrounds to support the work of the Charity, are appointed each year at the
Annual General Meeting. Trustees are appointed for a term of 3 years and may offer themselves for re
appointment for two 3 year lerms. Thereafter Trustees must step down subject lo transitional arrangements,
which enables a Trustee lo remain on the board for an additional twelve months or until a repla￿ment is
appointed. When considering appointing Trustees the Board has regard lo the requirement for any specialist
skills needed and the skill sets of the existing Trustees. Trustees may also be co opted during the year and
then put forward for election at the followng Annual General Meeting.
c. Pollcies adopted for the inductlon and training of Trustees
All new Trustees are provided with copies of..
The Charity's Gonstilulion
The latest accounls of the Charily
Charity Commission guidance notes CC3 "The Essential Trustee"
Policies and Procedures of The Benjamin Foundation
In addition, Trustees are encouraged to read Charity Commission and other news5elters and lo attend courses
to keep them abreast of their duties and responsibilities. Trustees engage in an annual review with the Chair of
Trustees, which includes the opportunity to consider further training and development needs.
d. Pay pollcy for key management personnel
The remuneration for senior staff is determined by the Remuneration Commillee, an occasional sub committee
of the Board of Trustees. Remuneralion is subject lo periodic market reviews and independent evidence and
advice is obtained lo inform the decision making proGess, before any changes are made. Any proposed
changes will be recommended to the Board of Trustees for consideration and approval.
In addilion, the remuneration for senior staff will be subject to annual review as part of the organisation's
evaluation of pay inflation and consequential recommendations to the Board of TrLJStees to make a pay award,
if any.
Page 9

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees, responsibillties
The Trustees (who are also the directors of the Charily for the purposes of company lawl are responsible for
preparing the Trustees, report and the financial stalemenls in accordance with applicable law and United
Kingdom AGcounling Standards (United Kingdom Generally Accepted Accounting Praclicel.
Company law requires the Trustees to prepare financial slatements for each financial . Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view
of the stale of affairs of the Group and the Charity and of their incoming resources and application of resources,
including their income and expenditure, for that period. In preparing these financial statements, the Trustees
are required lo..
select suitable accounting policies and then apply them consistently.,
obsetve the methods and principles of the Charities SORP (FRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards {FRS 102) 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
Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Group and the Charily's transactions and disGlose with reasonable accuracy at any time the financial
position of the Group and the Charity and enable them to ensure that the financial slalements comply wlh Ihe
Companies Act 2006. They are also responsible for safeguarding the assets of the GroLSP and the Charity and
hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are Trustees al the lime when this Trustees, report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit information of whiGh the charitable group's
auditors are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and lo establish that the charilable group's auditors are aware of that
information.
Auditors
The auditors, Larking Gowen LLP, have indicated their willingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors at a meeling of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
J Mcculloch
(Chair of Trustees)
Dale. 11 11£1ts
Page 10

THE BENJAMIN FOUNDATION
(A company Simited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BENJAMIN FOUNDATION
Opinion
We have audited the financial statements of The Benjamin Foundation (the 'parent charitable company'l and its
subsidiaries (the 'group') for the year ended 31 March 2024 whiGh comprise the consolidated statement of
financial activities, the consolidated balance sheet, the charity balance sheet, the Consolidated statement of
cash flows and the related notes, including a summary of signif icant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel.
In our opinion the financial slatements..
give a true and fair view of the slate of the Group's and of the parent charitable company's affairs as al
31 March 2024 and of the Group's incoming resources and application of resources, including its income
and expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charilies
Act2011.
Basls for opinlon
We conducted our audit in accordance with International Slandards on Auditing (UK) (ISAS (UKI) and
applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities
for the audit of the financial statements section of our report. We are independent of the Group in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to golng concern
In auditing the financial statements, we have concluded that the Trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
condilions that, individually or collectively, may Gast significant doubt on the Group's or the parent charitable
company's ability to continue as a going concern for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the
relevant sections of this report.
P8ge11

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BENJAMIN FOUNDATION
{CONTINUED)
Other information
The other information comprises the information included in the annual report other than the financial
statements and our auditors, report thereon. The Trustees are responsible for the other information contained
within the annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsislenl with the financial statements or our knowledge obtained in the
course of the audit, or othetwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial slatements themselves. If, based on the work we have performed, we conclude
that there is a materia5 misstalemenl of this other information, we are required to report that faGt.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, report for the financial year for which the financial statements are
prepared is consistent with the financial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the Gharitable company and ils environmenl obtained in the
course of the audit, we have not identified material misstatements in the Trustees, report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report lo you if, in our opinion-
the parent charitable company has not kept adequate and sufficient accounling records, or returns
adequate for our audit have not been received from branches not visited by us., or
the parent charitable company financial statements are nol in agreement with the accounting records and
returns., or
certain disclosures of Trustees. remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the Trustees,
report and from the requirement lo prepare a Strategic report.
Page 12

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BENJAMIN FOUNDATION
{CONTINUED)
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement, the Trustees (who are also the directors of
the charitable company for Ihe purposes of company law) are responsible for the preparation of the financial
slatements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charitable company's abilily to continue as a going concern, disclosing, as applicable, matters related lo going
concern and using the going concern basis of accounting unless the Trustees either inlend to liquidate the
Group or Ihe parenl charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due lo fraud or error, and to issue an auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
aGcordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of Ihese financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to delect material misslalements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
inGluding fraud is delai5ed below:
Enquiries with management about any known or suspected instances of non-compliance with laws and
regulations, accidents in the workplace and fraud.,
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations;
Challenging assumptions and judgments made by management in their significant accounting estimates;
and
Auditing the risk of management override of controls, including Ihrough testing of journal entries and other
adjustments for appropriateness.
A further description of our responsibilities for the audit of the f inancial statements is located on the Financial
Reporting Council's website at: www.frc.or
.uklaudilorsres
onsibilities. This description forms part of our
auditors, report.
Page 13

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BENJAMIN FOUNDATION
ICONTINUEDI
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the
charitable company's members those matters we are required to state to them in an auditor's report and for no
other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other
than the charitable company and the charitable company's members as a body, for our audit work, for this
report, or for the opinions we have formed.
Giles Kerkham FCA DChA (senior statutory auditor)
for and on behalf of
Larking Gowen LLP
Chartered Accountants
Statulory Auditors
1st Floor, Prospect House
Rouen Road
Norwch
NR1 1RE
Date..
Page 14

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable aGlivities
Other trading activilies
Fundraising and events income
33,712
6,754,261
1,608,859
48,410
78,607
158,633
112,319
6,912,894
1,608,859
48,410
729,691
6, 192,451
1, 592, 885
55,761
Total income
8,445,242
237,240
8,682,482
7,970, 788
Expenditure on:
Raising funds
Charitable aGtivilies
1,403,154
7,546,541
1,403,154
7,831,322
1,349,074
6, 790,363
284,781
Total expenditure
8,949,695
284,781
9,234,476
8, 139,437
Net expenditure
Transfers between funds
1504,4531
16,0001
(47,541)
6,000
1551,994)
(168,649)
19
Net movement in funds
(510,453)
{41,541)
(551,9941
(168, 649)
Reconciliation of funds:
Total funds brought foward
Net movement in funds
1,862,221
(510,453)
97,398
(41,541)
1,959,619
{551,994)
2, 128,268
(168,649)
Total funds carried forward
1,351,768
55,857
1,407,625
1,959,619
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 21 to 41 form part of these financial statements.
Page 15

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
REGISTERED NUMBER: 03825425
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
12
2,288,488
1,861,553
2,288,488
1,861,553
Current assets
Stocks
14
15
14,134
727,783
642,552
17.896
831,365
878,867
Debtors
Cash at bank and in hand
1,384,469
1,728, 128
Creditors.. amounts falling due within one
year
16
(975,627)
(711,384)
Net current assets
408,842
1.016,744
Total assets less current liabilities
2,697,330
2,878,297
Creditors: amounts falling due after more
than one year
Provisions for liabilities
17
(1,146,701)
{143,004)
(863, 141)
(55,537)
Total net assets
1,407,625
1,959,619
Charity funds
Restricted funds
Unrestricted funds
19
19
55,857
1,351,768
97,398
1,862,221
Total funds
1,407,625
1,959,679
Page 16

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
REGISTERED NUMBER: 03825425
CONSOLIDATED BALANCE SHEET {CONTINUED)
AS AT 31 MARCH 2024
The Trustees acknowledge their responsibilities for complying wlh the requirements of the Act with respect to
accounting records and preparation of finanGial slatemenls.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
J Mcculloch
(Chair of Trusleesl
Date. i? li£lt
The notes on pages 21 to 41 form part of these financial statements.
Page 17

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
REGISTERED NUMBER: 03825425
CHARITY BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
2,264,908
1,826,859
2,264,909
1,826,860
Current assets
Debtors
Cash at bank and in hand
15
847,620
416,060
852,918
560, 198
1,263,680
1.413,116
Creditors: amounts falling due within one
year
16
{866,8021
(524, 789)
Net current assets
396,878
888,327
Total assets less current liabilities
2,661,787
2,715,187
Creditors.. amounts falling due after more
than one year
Provisions for liabilities
17
{1,146,7011
(93,8611
(863, 141)
(28,800)
Net assets excluding pension asset
1,421,225
1,823,246
Total net assets
1,421,225
1,823,246
Charity funds
Restricted funds
Unrestricted funds
19
19
55,857
1,365,368
101,806
t,721,440
Total funds
1,421,225
7,823,246
Page 18

THE BENJAMIN FOUNDATION
(A company limlted by guarantee)
REGISTERED NUMBER: 03825425
CHARITY BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The Charity's net movement in funds for the year was £{402,021) (2023 - £(51,327)).
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable lo entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by Ihe Trustees and signed on their behalf by..
J Mcculloch
(Chair of Trustees)
Date..
The notes on pages 21 to 41 form part of these financial statements.
Page 19

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
587
(242, 721)
Cash flows from investing activities
Purchase of tangible fixed assets
{546,933)
(829, 896)
Net cash used in investing activities
(546,933) {829,8961
Cash flows from financing a¢tlvities
Cash inflows from new borrowing
Repayments of borrowing
331,748
121,7171
636,928
(20, 342)
Net cash provided by financing activities
310,031
616,586
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
{236,315)
878,867
(456,031)
1,334,898
Cash and cash equivalents at the end of the year
642,552
878,867
The notes on pages 21 to 41 form part of these financial slatemenls
Page 20

THE BENJAMIN FOUNDATION
{A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
The Benjamin Foundation is a company limited by guarantee, incorporated in England, registration
number 03825425. The registered office is 23-27 Sl Andrews Street, Norwich, Norfolk, NR2 4TP. The
members of the company are the Trustees names on page 1. In the evenl of the company being wound
up, the liability in respect of the guarantee is limited lo £10 per member of the company.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities: Statement of Recommended PraGtice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) leffeclive 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Benjamin Foundation meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction value unless othewse stated in the
relevant accounting policy.
The consolidated statement of financial activities (SOFA) and consolidated balance sheet
consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
The Charity has laken advanlage of the exemption allowed under section 408 of the Companies Act
2006 and has not presented its own statement of financial activities in these financial statements.
2.2 Golng concern
The Trustees have considered the charity's financial position and their confidence that steps now
taken will lead to a strengthening of the reserves position. The Trustees also considered the
significant deficit reported in the year and the reduction in cash.
Increased costs affecting staff wages, energy and building costs impact on the finances of the
charity at this time. As shown in these accounls, during 2023124 the charity reported a reduction in
funds of £551,994 and a reduction in cash of £236,315. In response, over the last 12 months, we
have implemented strong financial measures to manage costs, while protecting service delivery.
There is renewed focus on strong financial management and strategic planning. Due to these
measures, the charity expects to report an improved result in 24125, possibly a small surplus,
followed by reserves increasing in 25126 and thereon.
Based on our current planning, the Trustees have concluded that they have a reasonable
expectation that Ihe charity will have adequate resources to continue in operational existence for the
foreseeable future, being at least twelve months from the date of signing these financial statements,
and they therefore continue to adopt the going concern basis of accounting in preparing these
financial slalements.
Page 21

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies {continuedl
2.3 Income
All income is recognised once the Charily has entitlement to the income, it is probable Ihal Ihe
income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left lo
them (through knowledge of the existence of a valid will and the death of the benefactor) and the
executor is satisfied that the property in question wll not be required to salisfy claims in the estate.
Receipt of a legacy must be recognised when il is probable that it wll be received and the fair value
of the amount re￿1Vable, whiGh will generally be the expected cash amount to be distributed lo the
Charity, can be reliably measured.
On receipt, donated professional seNices and facilities are recognised on the basis of the value of
the gift lo the Charity which is the amount it would have been willing to pay lo obtain services or
facilities of equivalent economic benefit on the open market,. a corresponding amount is then
recognised in expenditure in the period of receipt.
Income tax reGoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised al the lime of the donation.
Turnover includes the proceeds in relation to donations under Gift Aid or deeds of covenant is
recognised al the time of donation.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, il is probable that a transfer of economic benefits will be required in
setllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of Ihe total of direct oosts and shared costs,
including support costs involved in undertaking each activity. Direct costs altributable lo a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity
and support Gosts which are not attributable to a single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its
charitable purposes and includes cosls of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Group's objectives, as well as any associated support costs.
All expenditure is inGlusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Group., Ihis is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
Page 22

THE BENJAMIN FOUNDATION
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. Afler recognition, under the cost model,
langible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
DepreGiation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Depreciation is provided on the following bases..
Freehold property
Leasehold property
Motor vehicles
Fixtures and fittings
20/0 slraight line
Over the term of the lease
250/0 reducing balanGe
15°/o straight line and 33 /0 Straight line
Properties purchased using the SASC loan facility are initially recorded at cosl less depreciation and
subsequently revalued each year.
2.7 SASC Loan
The SASC loan carries a variable return to the issuer and is Iherefore initially recognised, and in
subsequent years, at fair value, with the movement in fair value being recognised with the
statement of financial activities.
The initial fair value of the loan is determined by the transaction price and is then immediately
reduced to 85'/0, reflecting the repayment terms. The remaining 150/0 is carried as deferred income
and released to the statement of financial activities over the term of the loan as finance income
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured al fair value al the balance sheet dale, unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the consolidated statement of financial activities.
Inveslments in subsidiaries are valued at cost less provision for impairment.
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
fixed and variable overheads.
Page 23

THE BENJAMIN FOUNDATION
IA company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.10 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at Ihe amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposil or similar
account.
2.12 Liabilities
Liabilities and provisions are recognised when there is an obligation at the balance sheet dale as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
Liabilities 8re recognised al the amount that the Charity anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or seNices it musl provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on the present value
of those amounts, discounted at Ihe pre-tax discount raté that reflects the risks specific to the
liability. The unwinding of the discount is recognised in the consolidated slalement of financial
activities as a finance cost.
2.13 Operating leases
Rentals paid under operating leases are charged to the consolidated slatement of financial activities
on a straight-line basis over the lease term.
2.14 Pensions
The Group operates a defined contribulion pension scheme and the pension Gharge represents the
amounts payable by the Group to the fund in respect of the year.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the gener81 objeGtives of the Group and which have not been designated for other
purposes.
Restricted funds are funds which are lo be used in accordance with specific restrictions imposed by
donors or whiGh have been raised by the Group for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to Ihe financial statements.
Page 24

THE BENJAMIN FOUNDATION
{A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and olher
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charity makes estimates and assumptions Goncerning the future. The resulting accounting eslimales
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions Ihat have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives
and residual value of the assets. The useful economic lives and residual values are reassessed
annually. They are amended when necessary to reflect current eslimales, based on technological
advancement, future investments, economic utilisation and the physical condition of the assets. See
note 12 for the carrying amount of property, plant and equipment and note 2.6 for the useful economic
lives for each class of assets.
Impairment of debtors
The Charily makes an eslimale of the recoverable value of trade debtors and other debtors. When
assessing impairment of trade and other debtors, management considers factors including the current
credit rating of the debtor, the ageing profile of the debtors and historical experience. See note 15 for
the net carrying amount of the debtors.
Dilapidation provlslon
The Charity makes an estimate of the future cost of dilapidations on the exiting of leases based on each
individual lease. The provision is reviewed annually and amended where necessary to reflect current
estimates based on the physical condition of the properties. See note for 16 for details of the provision.
SASC Loan and associated properties
Under the SASC loan terms, the liability al loan maturity is likely to be 85 /0 of the market value of the
properties. The loan is measured at fair value of the estimated repayment, being equal lo 850/0 of the
market value of properties purchased. The repayment estimate makes assumptions that there wll
property prices will rise and that the impact on the repayment estimate of both property price rises and
adjustments lo discount the repayment to a current value will, in material respects, be lo cancel each
other out.
The properties are measured at fair value annually by the Charity based on current market data and
similar property purchases, with any change recognised in the SOFA. Advice is taken from external
professionals when it is considered necessary.
Page 25

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Donations
Legacies
26,212
7,500
78,607
104,819
7,500
33,712
78,607
112,319
Unrestricted
funds
2023
Reslricled
funds
2023
Total
funds
2023
Donations
Legacies
66,744
15
46,932
16,000
113,676
16,015
66, 759
62,932
129,691
Income from charitable activities
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Accommodation Services
Children, Youth and Community se￿ices
Corporate
Other
SASC finance income
4,865,171
1,785,378
33,634
54,200
15,878
136,628
22,005
5,001,799
1,807,383
33,634
54,200
15,878
6,754,261
158,633
6,912,894
Page 26

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from charitable activities {continued)
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Accommodation se￿ices
Children, Youth and Community Services
Corporate
Olher
SASC finance income
4,487,364
1,294,470
40,189
126,021
4,444
89,415
60,548
90,000
4,576, 779
1,355.018
130,189
126,021
4,444
5,952, 488
239,963
6, 192,451
Income from other trading activities
Income from non charitable trading activlties
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
other trading income - subsidiary income
Shop income - subsidiary company
144
1,608,715
144
1,608,715
10, 134
1,582,751
1,608,859
1,608,859
1, 592, 885
Page 27

THE BENJAMIN FOUNDATION
{A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on raising funds
Fundraising trading expenses
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Purchases of new trading goods
Administrative expenses
Fundraising - charity
Wages and salaries
Social Security Costs
Pension Gosts
Depreciation fixtures and fittings
187,170
500,531
21,629
610,196
40,740
31,041
11,847
187,170
500,531
21,629
610,196
40,740
31,041
11,847
182,448
495,096
26,068
569, 009
40,500
28,589
7,364
1,403,154
1,403,154
1,349,074
Analysis of charitable expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Accommodation Services
Children, Youth and Community Services
Corporate
Other
4,475,230
1,865,805
2,990
252,335
914.161
320,801
5,389,391
2,186,606
2,990
252,335
6,596,360
1,234,962
7,831,322
Page 28

THE BENJAMIN FOUNDATION
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of charitable expenditure by activities {continued}
AGtivities
undertak6n
directly
2023
Support
Gosts
2023
Total
funds
2023
Accommodation Sewices
Children, Youth and Community SeNices
Corporate
Other
4,098,649
Y,369, 140
723
241,405
812,372
268.074
4,g11,021
1,637,214
723
241,405
5,709,917
1, 080,446
6, 790, 363
Analysis of support costs
Children,
Accommod Youth and
ation Community
2024
2024
Total
funds
2024
Wages and salaries
Depreciation
Other costs
593,030
8,998
312,133
208,362
3,162
109,277
801,392
12,160
421,410
914,161
320,801
1,234,962
Children,
Accommodat Youth and
ion Community
2023
2023
Tolal
funds
2023
Staff costs
Depreciation
Other costs
556,125
29,327
226, 920
174,993
9,260
83,821
731,118
38,587
310,741
812,372
268,074
1,080,446
Page 29

THE BENJAMIN FOUNDATION
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Auditors, remuneration
2024
2023
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
20,750
19,750
10.
Staff costs
Group
2024
Group
2023
Charity
2024
Charity
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
5,291,392
400,056
4,714,871
353,974
4,672,061
359,316
4, 145, 862
373,474
242,470
225,678
211,429
197,089
5,933,918
5, 294,523
5,242,806
4, 656,425
The average number of persons employed by the Charity during the year was as follows-
Group
2024
Group
2023
No.
Charitable activities
Support staff
221
18
209
28
239
237
The number of employees whose employee benefits {excluding employer pension costs) exceeded
£60,000 was..
Group
2024
Group
2023
In the band £60,001- £70,000
Total remuneration paid to 6 members {2023 - 6 members) of key rnanagemenl personnel in the year
amounted to £339,725 {2022'. £329,768).
Page 30

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
12. Tangible flxed assets
Group
Long-term
leasehold
property
Freehold
property
Motor Fixtures and
vehicles
fittings
Total
Cost or valuation
At 1 April 2023
Additions
2,019,416
395,381
158,717
44,336
661,087
151,552
2,883,556
546,933
At 31 March 2024
2,414,797
158,717
44,336
812,639
3,430,489
Depreciation
At 1 April 2023
Charge for the year
401,672
45,561
29,589
31,769
558,973
74,437
1,022,003
119,998
At 31 March 2024
447,233
29,589
31,769
633,410
1,142,001
Net book value
At 31 March 2024
1,967,564
129,128
12,567
179,229
2,288,488
At 31 March 2023
1,617,744
129,128
12,567
102,114
1,861,553
Included in land and buildings is freehold land at cost of £200,000 (2023 £200,000), which is not
depreciated.
Page 31

THE BENJAMIN FOUNDATION
IA company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12. Tangible fixed assets (continued)
Charity
Leasehold
Freehold
property Fixtures and
property improvements
fittings
Total
Cost or valuation
At 1 April 2023
Additions
2,019,416
395,381
158,717
594,193
149,926
2,772,326
545,307
At 31 March 2024
2,414.797
158,717
744,119
3,317,633
Depreciation
At 1 April 2023
Charge for the year
401,672
45,561
29,589
514,206
61,697
945,467
107,258
At 31 March 2024
447,233
29,589
575,903
1,052,725
Net book value
At 31 March 2024
1,967,564
129,128
168,216
2,264,908
At 31 rtlarch 2023
1,617,744
129,128
79,987
1,826,859
Page 32

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13.
Fixed asset investments
Investments
in
subsidiary
companies
Charity
Cost or valuation
At 1 April 2023
At 31 March 2024
Net book value
At 31 March 2024
Al 31 March 2023
Principal subsldlaries
The following was a subsidiary undertaking of the Charity:
Name
Company
number
Class of
shares
Holding
Ben's Social Enterprises Limited
07188016
Ordinary
The financial results of the subsidiary for the year were..
Name
Income
Expenditure
Profitl{Loss
>1 Surplusl
(Deficit) for
the year
Net
liabilities
Ben's Social Enterprises Limited
1,526,297
(1,567,989)
141,6921
13,599
Page 33

THE BENJAMIN FOUNDATION
IA cornpany limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Stocks
Group
2024
Group
2023
Finished goods and goods for resale
14,134
17,896
15.
Debtors
Group
2024
Group
2023
Charity
2024
Charity
2023
Due after more than one year
Other deblors
32,750
37,750
32,750
37,750
32,750
37, 750
32,750
37,750
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
385,107
391,629
284,346
243,681
230,611
56,232
337,276
116,682
280, 743
80,527
239,590
70,336
308,450
93,536
727,783
831,365
847,620
852,918
16.
Creditors: Amounts falling due within one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Bank loans and overdrafts
Trade creditors
other taxation and social security
other creditors
Accruals and deferred income
14,695
243,696
142,030
109,894
465,312
74,722
191,741
128,141
102, 843
273,937
14,695
194,247
141,949
88,059
427,852
14,722
129,268
121,443
81,620
177, 736
975,627
711,384
866,802
524, 789
Included within accruals and deferred income is a dilapid81ion provision on leasehold property totalling
£143,004 and £93,86112023'. £55,537 and £28,800) for the Group and Charity respectively.
Page 34

THE BENJAMIN FOUNDATION
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Group
2024
Group
2023
Charity
2024
Charity
2023
Deferred income at 1 April 2023
Resources deferred during the year
Amounls released from previous periods
60,355
200,009
{60,355)
150, 533
60,355
(150, 533)
60.355
200,009
(60,355)
150, 533
60,355
(150,533)
Deferred income at 31 March 2024
200,009
60.355
200,009
60,355
Deferred income relates lo grant receipts for which the recognition Griteria were not met at the year end.
17. Creditors: Amounts falling due after more than one year
Group
2024
Group
2023
Charity
2024
Charily
2023
Bank loans
other loans
other creditors
119,360
900,232
127,109
141,050
636,928
85,163
119,360
900,232
127,109
141,050
636,928
85,163
1,146,701
863,141
1,146,701
863,141
Included within the above are amounts falling due as follows..
Group
2024
Groiip
2023
Charity
2024
Charity
2023
Between one and two years
Bank loans
Other loans
14,696
14, 722
72, 769
14,696
14,722
72, 769
Between two and five years
Bank loans
33,872
43, 771
33,872
43, 771
Over five years
Bank loans
Other loans
70,792
900,232
82,557
564, 159
70,792
900,232
82,557
564, 159
Included within other loans due between one and two years is an amount of £Nil (2023.. £72,769) of
amounts drawn down on the SASC loan facility that had not been applied by the year end. An amounl of
£68,444 has been included within other creditors due within one year in respect of this for the current
year.
The other loan balance due after 5 years of £900,232 {2023.. £564,159) represents the amount of the
loan that had been drawn down and applied to property purchases by Ihe year end, revalued to an
estimate of the amount to be repaid, in line with note 2.7.
Page 35

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The aggregate amount of liabilities payable or repayable wholly or in part more than f ive years after the
reporting date is..
Group
2024
Group
2023
Charity
2024
Charity
2023
Repayable by instalments
Payable or repayable other than by
inslalments
70,792
82,557
70,792
82,557
900,232
636,928
900,232
636,928
971,024
719,485
971,024
719,485
The charity has loans of £70,792 (2023.. £82,557) which are secured by legal mortgage over two specific
freehold properties. There is also a debenture secured by fixed and floating charged over the charity and
all property and assets present and future. The loans are repayable over a period of up to 25 years and
interest is payable al a commercial variable rate.
18.
Provislons
Group
Dilapidation
provision
At l April 2023
Additions
55,537
87,467
143,004
At 31 March 2024
Charity
Dilapidation
provislon
Al 1 April 2023
Additions
28,800
65,061
93,861
At 31 March 2024
Page 36

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds
statement of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
Inlout
Income Expenditure
Unrestricted funds
General Funds
1,862,221
8,445,242
{8,949,6951
{6,000) 1,351,768
Restricted funds
Meet Up (Lottery)
Meet Up
Time for You
Kidtown
Job Coach
Rent Deposit Scheme
Watton
49,859
49,859
37,000
10,150
10,692
31,800
56,934
6,253
{43,000)
(8,679)
(10,6921
{31,996)
(52,407)
(6,2531
(7,500)
{30,500)
19,843)
{31,884)
{47,894)
14,133)
6,000
1,471
196
4,527
PIE (Corpl
BOOM Young Carers
Pottergale
Young Carers Notwich
Future Builders 2
Other
7,500
30,000
9,843
500
31,884
47,894
4,133
97,398
237,240
(284,781)
6,000
55,857
Total of funds
1,959,619
8,682,482 (9,234,476)
1,407,625
Meet Up was allowed to retain underspent National Lottery Community Fund grant (the service had to
close during Covid which reduced spend) and managed lo secure additional funding from the
Connecting Older People Fund and the Surviving Winter Fund (both via Norfolk Community
Foundation) to continue lo provide vital community services. The charity also supported Meet Up from
ils own social enterprise income, and The Band Trust remains a key supporter for capital works on the
centre. Meet Up families also benefitted from Round 3 of the Norfolk Household Support Scheme.
Page 37

THE BENJAMIN FOUNDATION
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds (continued)
Statement of funds - prior year
Balance at
31 March
2023
8alance al
l April 2022
Transfers
in/oul
Income Expenditure
Unrestricted funds
General Funds - all funds
2,006,432
7,667,893 (7,816,512)
4,408
1,862,221
Restricted funds
Meet Up {Loltery)
Meet Up
Time for You
Ditchingham
Kidlow)
Job Coach
Rent Deposit Scheme
Anchorage
TSS
Watton
Norfolk Trauma Forum
Winston Court
PIE (Corp)
BOOM Young Carers
Potlergate
Young Carers Norwich
54,423
51,000
10, 150
(55, 564)
(10, t50)
(287)
(1, 538)
(13,859)
(37,352)
(51,659)
(30, 7 75)
(4, 501)
(11, 044)
49,859
287
1,538
13,859
32,863
43,336
18,639
4, 685
8, 323
11,536
4,501
11,044
4,408
196
(4,408)
2, 250
60,000
38,260
30,000
1,000
(2, 250)
(52, 500)
(30,889)
(20, 157)
(1,000)
7, 500
30,000
9,843
22, 629
121,836
302, 895
(322, 925)
(4,408)
97,398
Total of funds
2, 128, 268
7,970,788 (8, 139,437)
1,959,619
Page 38

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
20. Analysis of net assets between funds
Analysis of net assets between funds current period
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Debtors due after more than one year
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
2,288,488
32,750
1,172,668
(852,4331
(1,146,701)
(143,004)
2,288,488
32,750
179,051
1,351,719
1123,194) {975,6271
{1,146,701)
{143,004)
Total
1,351,768
55,857
1,407,625
Analysls of net assets between funds - prior period
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tangible fixed assets
Debtors due after more Ihan one year
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabililies and charges
1, 824,204
37,750
1,630, 329
(711,384)
(863, 141)
(55, 537)
37,349
1,867,553
37,750
1,690,378
(711, 384)
(863, 141)
(55, 537)
60,049
97,398
Y,959,619
Total
1,862,221
Page 39

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
21.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2024
Group
2023
Net expenditure for the period (as per Statement of Financial Aclivilies)
1551,9941
(168,649)
Adjustments for:
Depreciation charges
Loss on the sale of fixed assets
DeGreasel(increase) in stocks
Decreasel(increasel in debtors
Increase in Greditors
119,998
71,119
3, 000
(9, 001)
(178,316)
39, 126
3,762
103,582
325,239
Net cash provided byl{used inl operating activities
587
(242, 721)
22.
Analysis of cash and cash equivalents
Group
2024
Group
2023
Cash in hand
642,552
878,867
Tolal cash and cash equivalents
642,552
878,867
23. Analysis of changes in net debt
At 1 April
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
878,867
(14,722)
{777,9781
{236,315)
27
642,552
114,6951
1310,0581 {1,088,036)
86,167
{546,346)
1460,179)
Page 40

THE BENJAMIN FOUNDATION
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
24. Operating lease commitments
At 31 March 2024 the Group and the Charity had commitments lo make future minimum lease
payments under non-cancellable operating leases as follows..
Group
2024
Groiip
2023
Charity
2024
Charity
2023
Not later than 1 year
Later than 1 year and not laler than 5 years
Laler than 5 years
265,715
418,344
308,589
273,894
526, 083
369,037
214,785
386,344
133,914
218,794
447,403
190, 112
992,648
7, 169,014
735,043
856,309
25. Operating leases: Charity as a lessor
Al 31 March 2024 the Group and Charity has future minimum lease receipts due under non-cancellable
operating leases for each of the followng periods:
Group
2024
Group
2023
Company
2024
Company
2023
No later than 1 year
Later than 1 year and no later than 5 years
Later than 5 years
35,000
140,000
126,000
35, 000
140,000
161,000
35,000
140,000
126,000
35,000
140, 000
161,000
301,000
336, 000
301,000
336,000
26. Related party transactions
During the year, the Charity charged its subsidiary company, Ben's Social Enterprises, an amount of
£177,329 {2023'. £153,084) for management fees. Ben's Social Enterprises charged the charity £64,583
(2022: £84,899) for fundraising costs. The charge for fundraising costs apportions shop costs incurred
in Ihe Ben's Social Enterprises to fairly reflecl shop revenue in the charity and subsidiary. A gift aid
donation was made by Ben's Social Enterprises to the charity of £108,281 {2023.' £229,854).
27.
Post balance sheet events
The charity has expanded its supported housing provision in Great Yarmouth and Lowestofl through the
purchase of six private residential properties. The purchases are funded through a long term loan facility
with Social and Sustainable Capital LLP {SaSC).
Page 41