REGISTERED COMPANY NUMBER: 06541990 (England And Wales) REGISTERED CHARITY NUMBER: 1126117 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR AXIS FOUNDATION (A COMPANY LIMITED BY GUARANTEE) Prestons & Jacksons Partnership LLP 364 - 368 Cranbrook Road Ilford Essex IG2 6HY
AXIS FOUlATIoN cowrENTS OF THE FINANCIAL STATKMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examiner's Rep)rt Statement of Financial Activilies BalaDee Sheet 10 to 11 Casb Flow Statement 12 Notes to tbe Casb Flow Statement 13 Notes to the Finfincial Statements 14 to 19 Detalled Statement of Financial Actlvities 20
XIS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trust¢es who are also directors of th¢ charity for the purposes of the Companies Act 2006, present their report with the financial statements of th¢ charity for the year ended 31 March 2024. The trust¢es have adopted the provisions of Accounting and R¢porting by Charities: Statement of Recommended Practic¢ applicabl¢ to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OKJECTIVES AND ACTIVITIES Objeetive #nd Aims The objectives of the charity are to advance such purposes as are recognised as being exclusively charitable in &crdanCe with the law in England and Wales from time to time as our trustees in their absolute discrelion shall see fjt. The charitable company has taken the commission's public benefit guidance into account when making any relcvant decisions. AetAvStle The Foundation supports a variety of charitable Causes both through nIng grants and providing resourees. In particular, the charity focuses on supporting charitable causes within communities with a view to improving the lives of disadvantaged residents of those communities, for example, by supporting the improvement and maintenance of social housing, promoting education, training and skills development and youth diversion programmes. and supporting and promoting arts and events in the community. The founder of the charity, Axis Europe PLC, operates in the area of improving and maintaining social housing, and commercial property. Some of the communities which the Foundation supports are in areas where Axis Europe CaleS out its business activities. The truslees acknowledge the potential benefit to Axis Europe in supporting Communities in whi¢h the company also operates. However, the charity's activities are solely aimed at bringing direct benefjts to the public by improving the standard of life for disadvantaged members of the communities that we focus upon. Axis Europe receives no direct benefit from our activities. Any indirect benefit which th¢ company may receive through our Foundation's activities, such as to its reputation, are in our view wholly incidental to the public benefit generated by the Foundation in carrying out its charitable actÈvity. Publi¢ bellefit The Trustees have considered the Charity Commission's general guidance on public benefit and have taken il inlo account when reviewing the Foundation's aims and objectives and in planning its future activities. The Trustees are satisfjed that the aims of th¢ Foundation are carried out wholly in pursuit of its charitable aims. Page I
AXIS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRATEGJC REPORT Achievement aDd performanee Charitable aetivitfjes The Foundation awarded grants totalling £362.973 during the year (2023 - £274,014). The Main beneficiaries were: DernelzA Hogpice Care for Children - £137,444 Demelza is Axis, charity partner and delivers extraordinary care to extraordinary children who face seriou5 or life-limiting conditions. Our relationship with Dernelza goes back to 2003 when Axis fonned a Speci partnership with the children's hospice. We started donating to Demelza in 2004 before the Axis Foundation was bom and have continued to support them in many ways: donations via the Foundation. many fundraising activities by our Axis employees and our annual Charity Ball and Golf Day. The latest donation of £137,444 will bring our overall donation to Demelza to 1,507.624. We will continue to support the hospice in their work and expand their vital service across Kent and South East London, reaching even more families who need their support. l Ml$s Emily Barker - £11,133 Little Mollie has a rare, inherited childhood neurological disorder. Atla Telangiectasia (also known as Louis-Bar syndrome) affects motor movement and speech as well &s the lungs and immune system. and causes sensitivity to radiation and inere&sed risk of cancers. It is progressive and there is no cure. The Trustees of the Axis Foundation agreed to make a donation of £11,133. This will purchase Molli¢ a Moffilii suit (designed to rel muscles through neurostimulation), a Gallileo vibration board (to help with muscle tone) and also some specialist physiotherapy. Emily Barker, Mollie's mother, said: "We ar¢ over the moon that Mollie's application was successful and so grateful she will now have access to a Mollii suit and Galileo board along with Ihe specialist th¢rapy." 2 HugAbug World (HBWF £15,000 The Axis Foundation donated £15,000 to HBW to provide books with positive m¢ssa8es and affinnation hearts and toys to young children. Our Community Investment team also worked with HB W to spread the affinnations - alongside adorable bugs Sedric Snail, Bella Bee and friends - to schoolchildren in areas where Axis, our parent company, property services provideT, Axis works. "At a time where Mental Health challenges in our younger generations is finally getting some attention in the medi& we al HBW are forever grateful to the Axis Foundation for making it possible for us to engage with thousands of children. through your generous donation" _ Julia Keys, Founder 3 Strength and tKarning Through Horses - £12,01)0 Strenh & Learning Through Horses helps young people in mental health crisis turn their lives around. The Axis Foundation awarded them a grant of £12,000 to purchase a modular building to help them continue their services - whatever th¢ weather. "Weareve rateful for wr reccnl incredibl enerous donation of £12 000 . . Thanks to our donation urchase a modular buildin we will be able to _ in which to teach our thiapx sessions. These sessions h¢1 oun 1¢ in mental health crisis to to turn their lives around and move towards a ositive futu to L JLort we will be able to hel our su oun - u more of thes¢ u wLle access o in - Dr Ho¢kle and Rosie Bensle Founders and Joint CEOS Page 2
AXIS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 4 Theraposture Limited - £10,934 Kaiden suffers with Dravet Syndrome, a very rare and complex forni of epilepsy. He requires constant Care and monitoring and attends Deme172 where he uses a specialist, electrically operated bed with Perspex panels and padding to keep him safe. His father applied to the Foundation for help to purchas¢ the same bed for Kaiden to use at home. The Trustees of the Axis Foundation were completely unanimous in their decision to support his father's application and have made a donation of £10,934 to buy the bed for Kaiden, Taylor, Kaiden's father, said. am afamil and I would i _ rovidin s the it Las taken a humon Jous amount of and m ressure of words how thankful we are. Thank wife. It's ve ut in - hardt0L_ 5 AzaleA - £10,000 A7alea supports and empowers women surviving domestic and international sex trafficking through many programmes including Drop-ln and Ouireach and l- I recovery support. The Axis Foundation's donation of £IO,1100 helped Azalea buy a Mobile Drop-ln Van: many women find it challenging to come to A7alea for the first time.. years of extensive abuse foster a deep lack of trust. So, the new van purchased with our donation will enable AzAlea to go to them. ant Not aonl have the demonstrated their belief in the work that Azalea ILY haV also ossibili resent f demonstrated their belief in LÉ of transforniation aeve survivor of traffickin ,. A belief that all are worth , of a life free. "We thank the Axis Foundation for investing in the liv¢s of the 421 women that we know and care for. who are surviving sex trafficking and for partnering with us in the creation of the Mobile Drop-ln Van," Kate Dunwoodie, Deputy CEO 6 GASP Motor Project - 10,000 GASP Motor Project provides hands-on practical training in motor mechanics for disadvantaged youngsters many may be excluded from education OT face multiple challeng¢s at home. The Axis Foundation donated £10,000 to help GASP buy a vanlmobile workshop, which enables them to take their courses oul to schools and youth organisations acTOSS Surrey. ou so much for this fan ews. We are so ve ettin excited about U Lf llLW van. This will enable to hel even more youLters benefjt from our trainin with GASP. Th cure accredited A lifications with u whi the can use a5 evidence of commilment har work and an interest in motor m¢chanics. Man owi b their lives in a new direction and with a ou so much to eve Ilive outlook. Thank L _ Foundation" ra Matravers Fundraisin ) and Business Develo ment Mana er 7 Ipswich Community Playbus - £10,000 Ipswich Community Playbus transports the benefits of fun and ¢ducational play to disadvantaged children and families, many of whom have no access to play areas. The Axis Foundation's donation of £1 0,000 helped them convert a new Playbus - called Dennis - into another amazing play Space. Facilities on board Dennis in¢lude a built-in slide, sand pit, new toilet and baby change area. 'This is wonderful news and Ye much a reciated! Your donation will enabL lS to take lo the oon. On behalf of all the children and families the Trustees and much" . Mand Potter Pl& bus Co-OTdinator ousove 8 Northgate Primary School Trust - £10,000 (Toby Conway) Page 3
AXIS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Toby Conway has an incredibly rare genetic disorder called De Novo ZNF 292 syndrome. 11 is so rare, his doctors and consultants have never previously encountered a patient with this diaOSis. Toby h&8 autistic traits, speech delay and extreme hyper mobility. His abnorn]al brain structure prinwily affects his short-tern) memory (so he has some educational challenges). He is physically weak and has a high risk of epilepsy. Despite all his challenges, Toby embraces mainstream education and loves his school. So, the Axis Foundation Truslees awarded Toby's school (Northgaie Primary School Bishop's Stortford, Hertfordshire) £Io,I)00 to create a sensory room. This will not only help Toby's sensory processing disorder but will also benefit the IQO neuro-diverse pupils at the school. Thankin thÉ Foundation Tob s father Mark Conwa said. "This donation will make such a hU e difference to Tob and all JLer puuil Lt his school both neurodiverse and neuro hool do an amazin with limited resources and thiir new senso room will create a safe s ace for the kids that will be nvaluable. Thank ou so so much ' 9 Wimbledon Arts TIA Wfimbledon Book Fextfval - £10,000 Two thousand s¢hool¢hildren altending Wimbledon Bookfest's World Book Day events in March 2024 each went home with a free book, thanks to the Axis Foundation's donation of£lO,IMIO. 'Develo ng A love of readin leasure is incredib ros ects. Children who atlend BookFest events and Ins ired and excited literature. We are incredtbl donalion. hel injustoins . ire and encoura ie the next im ortant and has a lifelon o home of the book leave feelin wnco rateful to the Foundation for their Jenerous eneration of readers" _ Fiona Razvi Festival Director As one teacher said: "The best part is children getting a copy of the book with each ticket; the next few weeks at school ALL chlldren in the same class are reading the same book which leads to some eat book talk and discussion and encourages their love and enthusiasm for reading." A total of £126,461 was awarded to 28 other worthy Causes during the period. FIDanclal revieiv Ffinancial posltlon The trustees are satisfled with the financial outcome during the period &8 shown in the statement of financial activities. Reserves pollcy Reserves &$ at 31 March 2024 were £664,873 (2023 - £551,638). All reserves are unrestricted. The Foundation aims to mainlain a reserve cover of 200/0 as a minimum of all donations receivd during the period to cover the cost of future grants and oiher unforeseen events. It also intends to increase antS during future perIS to bring the reserve into line with this objective. The amounts of frtt reserves above the reserve cover are expected to be spent on ant making. Future plans The charity plans to continu¢ the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. These plans will be finan¢¢d primarily from donations received and from our r¢serves. Page 4
AXIS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRuuRE, GOVERNANCE AND MAIYAGEMENT GoverDing documeDt The Charity 15 controlled by its governing document, a deed of trust, and Constitutes a limited Company, lirnit¢d by guarantee, as defined by the Companies Act 2006. The charity is a company limited by guarantee goveined by its memorandum and articles of association dated I l March 2008. It is registered as a Charity with the Charity Commission. The trustees have the power to deposit or invest funds in any manner they see fjt. They may only invest funds after obtaining advice from a f)nancial expert and having regard to the suitability of investments and th¢ need for diversification. Funds which are not required for immediate use or which will be required for use at a future date musl be placed on deposit or invested in accordance with the above powers until needed. The trustees have the power to nominale individuals for eleclion. Once elected, trustees remain so long as the Board of Trustees see fit. The trustees regularly review the composition of the Board and where necessary either identify suitable persons to be elected or establish appropriate induction and training for new and existing trustees. RecrufitmeDt and Appolntment of Dew trvslees Our objective is to appoint trustees with the widest range of skills and ¢xperience who can best further the charltable aims of the Axis Foundation. Our Board of Trustees comprise of senior individuals from Axis Europe PLC (our primary funder) who understand the social issues and community networks in our primary are&s of benefit together with three independent trustees. The independenl trustees ensure there is no conflict of interest between the business objectives of our principal funder and our own ¢haritable goals. Risk mgnggtDJent The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls ar¢ in place to provide reasonable assurance against fraud and error. The truslees are responsible for the overseeing of the risks faced by the charity. Risks are identified and &8sessed and controls to manage them are implemented throughout the year. A fornial review ot the charity's risk management processes is undertaken on an annual basis. Risk is managed und¢r the headings of financial sustainability, governance, loss of dala and fraud. Through ihe risk management processes estsblAshed for the charity, the Truslees are satisfied that the major risks identified have been adequat¢ly mitigated where necessary. Independent Examlllers Report All of the current trustees have taken all the steps that they oughi to have taken to make them aware of any infornjation needed by the charitable company's Independent Examiners for the purposes of their audit and io establish that the Independent Examiners are aware of that information. The trustees are nol aware of any relevant audit inforniation of which the Independent Examiner5 are unaware. Prestons & Jacksons Partnership LLP were appointed as the Independent Examiners REFERENCE Al ADMINISTRATIVE DETAII Registered Company number 06541990 (England and Wales) Page 5
AXIS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Registered Charity number 1126117 Regfistered offiee 3 Tramway Av¢nue London E15 4PN Trustees The followlng persons g¢ted as trustees during tbe year: John Martin Hayes Michael Anthony Hayes Timothy Hayes Maurice Gertski Peter Derek Varney Yusuf Ibrahim Claire Pearce - Appointed on 15th April 2023 Sandra Isabel Ryan - Resigned on 28th April 2023 Cothpany Secretary: Michael Anthony Hay¢s llldependent Examiner A Patel BA(Hons) BFP FCA Prestons & Jacksons Partnership LLP 364 - 368 Cranbrook Road Ilford Essex IG2 6HY STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Axis Foundation for the Purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable Company and of the incorning resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonabl¢ and prudent" state wh¢lh¢r applicable accounting standards have been followed, subjeet to any material departures discloKd and explained in the financial statements. prepare the financial statements on the going concern b&sis unless it is inappropriate to presume that the charitable company will continue in business. Page 6
15 FOUNDATION
INDEPENDEIYT EXAMINER'S REPORT TO THE TRUSTEES OF AXIS FoU1DATION Independent examiner's report to the trustees of Axls FoundatioD ('the Company,) I report to the charity trustees on my examination of the accounts of thc Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity'5 trustees of the Company (and also its dire¢tors for the purposes of company law) you are responsible for the preparation of the accounts in acrdanCe with the requirements of the Companies Act 2006 (*he 2006 Act?. Having satisfjed myself that Ihe a¢counts of the Company are not required lo be audiled under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Acl 2011 ('the 2011 Ace). In ¢ing out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examlner's ststement Sincc your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirni that I am qualified to undertak¢ th¢ examination because I am a rnember of the In51itute of Charter¢d Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confinn that no matters have come lo my attention in connection with the examination giving me cause to believe: accounting records w¢re not kept in r¢spect of the Company as required by Section 386 of the 2006 ACL or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination: or the accounts hav¢ not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicabl¢ to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have Come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enablc a proper understanding of the acxounts to be reached. 1£L A Patel BA(Hons) BFP FCA Prestons & Jacksons Partnership LLP 364 - 368 Crdnbrook Road Ilford Essex IG2 6HY 19.1.: .1...... Page 8
AXIS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 Unrestricted Totsl fund funds Notes INCOME AND ENDOWMEIYTS FROM Donations and legacies 575,037 608,471 Investment income 11 Totsl 575,048 608,471 EXPENDITURE ON Raising funds 94327 95,542 Charltable activitles Flnancial Support Awarded Support Costs 362,973 4,613 274,014 536 Total 461,813 370,092 NET INCOME 113,235 238,379 RECONCILIATION OF FUNDS Total funds brought forward 551,638 313,259 TOTAL FUIYDS CARRIED FORWARD 664073 551,638 The notes forni part of these fmancial statements Page 9
AXIS FOUNDATION BALANCE SHEET 31 MARCH 2024 31.3.24 31.3.23 Unrnstricted Total fund funds Notes CURRENT ASSETS Debtors Cash at bank 10 60253 617,948 41,035 564,775 678201 605,810 CREDITORS Amounts falling due within one year (13J28) (54,172) NET CURRENT ASSETS 664,873 551,638 TOTAL ASSETS LESS CURRENT LIABILITIES 664,873 551,638 NET ASSETS 664,873 551,638 FUNDS Unrestricted funds 12 664.873 551,638 TOTAL FUNDS 664,873 551,638 The charitable company is entitled to exemption from audit under Section 477 of th¢ Companies Act 2006 for the year ended 31 March 2024, The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting re¢ords that comply with Sections 386 and 387 of the Companies Act 2006 and (b} preparing financial stat¢m¢nts which give a true and fair view of the state of affairs of the charilabl¢ company &8 at the end of each financial year and of its surplus or deficit for each financial year in a¢cordance with the requirements of Se¢tions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial stat¢m¢nts, so far as applicable to the charilable Company. The fi statement5 were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: The notes forni part of these fmancial statements Page 10 Continued...
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AXIS FOUNDATION CASH FLOW STATEMENT FOR THE YEAR EIYDED 31 MARCH 2024 31J.24 31.3.23 Notes Cash Ilows from operating activitles Cash g¢nerated from owations 53,162 232,281 Net cash provided by operating activilies 53,162 232,281 Cash flows from investing ¥etSvlti Inlerest received 11 Net cash provided by investing activities 11 Ch*Dge in cash 8nd cash equivalents An tbe reportlng perlod Cash and ¢asb equivalents at the beglDDln8 of Ihe reportlng perlod 53,173 232,281 564,775 332,494 Cg$h and eash equivalents at the end of the reporting period 617,948 564,775 The notes fonn part of these fmancial statements Page 12
AXIS FOUNDATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOME TO IYET CASH FLOW FROM OPERATING ACTIVITIES 31J.24 31.3.23 Net income for the reporling period (as per the Statement of Finaneial Activities) Adjustments for: Interest rcceived Increase in debtors IDecrease)lincrease In Creditor5 113335 238,379 (11) (19218) (40,844) (34,585) 28,487 Net cash provided by operatfioDS 53,162 232,281 ANALYSJS OF CHANCES IN NET FUNDS At 114123 Cash flow At 3113124 Nct C2Jh Cash at bank 564,775 53,173 617,948 564,775 53,173 617948 Total 561775 53,173 617,948 The notes fonn part of these financial statements Page 13
AXIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the fiDanctal statements Th¢ financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historica] cost convention. Going eoncern The directors, having noted the absence of any short- or long-terni financial cornmilrnents, aee adequate resources are available to continue operations. Th¢ charitable company therefore continues to adopt the going concern basis in preparing its financial statements. The charitable company has a strong cash position with no external debt. As a result. the accounts have been prepared on a going concern basis. Income All income is recognised in th¢ Statement of Financial ActlVAties once the charity h&s entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are reColised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounled for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direcily attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subjert to ¢onditions which have not been met at the year end date are noted as a Commitment but not accrued as expenditure. Taxation The charity is exempt from Corporation tax on its charitable activities. Fund aceounting Unrestricted funds can be used in accordance with the charitable objectives at th¢ discretion of the trustees. All funds held by the charitable company are unrestricted general funds. Restricted funds can only be uscd for particular restricted purposes within the objects of the Charity. Restriction5 aTiS¢ when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fimd is included in the notes to the financial statements. Page 14 continued...
AXIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations 575,037 608,471 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account interest 11 RAISING FUNDS RafisiDg donalioDS and legacies 31.3.24 31.3.23 Fundraising Events & publicity 94,227 95,542 CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note Support costs (see note 7) 6) Totals Financial Support A warded Support Costs 362,973 362,973 4,613 4.613 362,973 4,613 367,586 GRAIYTS PAYABLE 31.3.24 31.3.23 Financial Support Awarded 362,973 274,014 Page 15 ntinued...
AXIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 hL4RCH 2024 CRANfs PAYABLE - eontinued The total grants paid to institutions during the year was as follows: 31.3.24 31.3.23 Deme17a House Swale Gloves Chartwell Trust Youth Talk Newhaven Seaford Sailing Easy Mobility Dental Wellness Off the Fen¢¢ Maypole Projects Ashma Relief Other Causes Azalea British Disabled Angling Association Douglas Bader Foundation Farnham Powerchair Football Club GASP Motor Project HugaBug World Limited Ipswich Community Playbus Northgate Primary School Trust Red Eagle Foundation Strength and Leaming Through Horses Theraposture Ltd Wimbledon Arts TIA Wimbledon Book Festival 137,444 138.970 10,000 10,000 9.800 9,280 8,000 7,000 6,866 5,700 62,398 4,750 6,750 103,722 10,000 5,598 5,000 6,775 10,000 15,000 10,000 10,000 5,000 12,000 10,934 10,000 362,973 274,014 SUPPORT COSTS Governance costs Finance Totals Support Costs la13 3JOO 4,613 Page 16 continued...
AXIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, eipensej There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 31.3.2023 Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 608,471 EXPENDITURE ON Raising funds 95,542 Charitable actlvlties Financial Support Awarded Support C03ts 274,014 536 Total 370,092 NET INCOME 238,379 RECONCILIATION OF FUNDS Total funds brought forward 313,259 TOTAL FUNDS CARRIED FORWARD 551,638 Page 17 continued...
AXIS FOUNDATION NOTES TO THE FINANCIAL STATEmErs - Continued FOR THE YEAR ENDED 31 MARCH 2024 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31,3.23 Trade debtors Prepayments and accrued income 44,406 15,847 41,035 60,253 41,035 11. CREDITORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR 31.3.24 31.3.23 Trade creditors Other Creditors Accruals and deferred income Accrued expenses 10.629 3,506 38,537 1.500 3,506 6,522 3aOO 13J28 54,172 12. MOVEMENT IIY FUNDS Net movement in funds At 3113124 At 114123 Unrestrfi¢ted funds General fvnd 551,638 113J35 664,873 TOTAL FUNDS 551,638 113,235 664,873 Net movemenl in funds, included in the above are as follows; Incoming Resources Movement resources expended in funds Unre8trieted funds General fund 575,048 (461.813) 113335 TOTAL FUNDS 575,048 {461,813) 113235 Page18 continued...
AXIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR EIYDED 31 MARCH 2024 12. MOVEMENT IN FUIIDS- continued Comparalives for rnovement in funds Net movement in funds At 3113123 At 114122 Unrestrkted fuDds General fund 313259 238.379 551,638 TOTAL FUNDS 313.259 238,379 551.638 Comparative net movement in fimd& included in the above are as follows: Incoming Resources Movement resources expended in funds UDrestrlcted fuDd$ General fund 608,471 {370,092) 238,379 TOTAL FUNDS 608.471 (370,092) 238,379 13. RELATED PARTY DISCLOSURES During th¢ current year, the Foundation r¢c¢iv¢d a charitable donation of £216,079 (2023: £236,278) from Axis Europe Plc. Page 19
AXIS FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AND ENDOWMEKrs Donations aDd legacies Donations 575,037 608,471 Investment ineome Deposit account interest 11 Totsl iD¢oming resoureeJ 575,048 608,471 EXPENDITURE Raising donatlons and legacie8 Fundraising Events & publicity 94,227 95,542 Chgritable aetfvltl¢s Grants to inslitulions 362,973 274,014 Support costs FIDaDce Bank charges lJ13 536 Governance ¢o$ts Independent Examiners Fees 3JOO Total resources expended 461,813 370,092 Net income 113,235 238,379 This page does not forni part of the ststutory financial slatements Page 20