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← The Frost Foundation

2024-12-31-accounts

Charity registration number 1132893 (England and Wales)

THE FROST FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE FROST FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

H Radcliffe J Booth M Bury M Burtonwood Mrs N Campbell Mrs J A Bach

Charity number (England and Wales) 1132893 Independent examiner Champion Consulting Limited 1 Worsley Court High Street Worsley Manchester M28 3NJ

THE FROST FOUNDATION

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

THE FROST FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and achievements

It gives me great pleasure to present this year’s Chairman’s Report, reflecting on the progress our charity has made and the lives we have touched.

Over the past year, our trustees have worked with dedication and care to ensure that every decision taken is guided by the best interests of the children and families we serve. Their commitment—whether through strategic oversight, governance, or personal involvement—has been instrumental in strengthening our programmes and widening our reach.

Thanks to this teamwork, we have been able to provide direct assistance to many children facing difficult circumstances. From offering vital practical support to creating opportunities for growth, learning, and play, the charity has helped children build confidence, resilience, and brighter futures.

The benefits of our work are seen not only in the smiles and stories of the children themselves, but also in the relief and hope felt by their families. Whether it is easing financial strain, providing access to enriching activities, or simply showing that someone cares, our support has had a tangible and lasting impact.

In this regard we have assisted several children with obtaining specialist products and care. Our Easter, Xmas and return to school initiatives have been particularly well received.

The Christmas campaign was a great success providing children who would not have received gifts, with two or three toys, totalling over 3,000 presents gifted to local children. Over half of the gifts we provided are donated by our supporters. A monetary value is not included in the accounts; however, it is not unreasonable to put a value on these gifts to be in excess of £35,000. We also donated over 100 food hampers with an approximate value of £65.00 each. Half of the goods were donated by our supporters, and this equates to another £3,500 that is not shown in the accounts.

The Easter campaign encouraged our supporters to donate eggs which we distributed, and the school’s initiative focused on providing school uniforms for children in need.

Looking ahead, the trustees remain committed to safeguarding the charity’s values and ensuring resources are used wisely and effectively. We will continue to seek new ways to support children in need, building on the strong foundation laid this year.

On behalf of the board, I extend heartfelt thanks to our Wendy Veevers, volunteers, donors, and partners, whose generosity and commitment make this work possible. Together, we are not only changing lives—we are helping to create a future where every child has the chance to thrive.

Financial review

The charity has made donations and grants of £13,212 in the year

THE FROST FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

All this could not be possible without the amazing support we receive from our corporate sponsors including:

At this point, I would like to thank my fellow Trustees for their continued support. Also, the volunteers who assist and give their time at events.

A special mention to Wendy Veevers who continues to run the charity admirably which enables us to support so many local children in need.

Our Aims for 2024

2024 will be focused on continuing to support local children. The trustees remain committed to safeguarding the charity’s values and ensuring resources are used wisely and effectively to support children in need.

THE FROST FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees who served during the year and up to the date of signature of the financial statements were: H Radcliffe

J Booth M Bury M Burtonwood Mrs N Campbell Mrs J A Bach

The trustees' report was approved by the Board of Trustees.

M Burtonwood

Chairman Dated: 1 October 2025

THE FROST FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FROST FOUNDATION

I report to the trustees on my examination of the financial statements of The Frost Foundation (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Ged Cosgrove

Dated: 1 October 2025

THE FROST FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Income from:
Fundraising activities
3
Expenditure on:
Fundraising
4
Charitable activities
5
Total resources expended
Net expenditure for the year/
Net movement in funds
Fund balances at 1 January 2024
Fund balances at 31 December 2024		 2024
£
92,133
46,612
46,100
92,712
(579)
(262)
(841)		 2023
£
76,340
34,553
46,289
80,842
(4,502)
4,240
(262)

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE FROST FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2024

2024
2023
Notes
£
£
£
Fixed assets
Tangible assets
11
328
Current assets
Debtors
12
1,300
2,033
Cash at bank and in hand
1,789
4,212
3,089
6,245
Creditors: amounts falling due within
one year
13
(4,258)
(7,003)
Net current liabilities
(1,169)
Total assets less current liabilities
(841)
Income funds
Unrestricted funds
(841)
(841)		 £
496
(758)
(262)
(262)
(262)

The financial statements were approved by the Trustees on 1 October 2025

H Radcliffe M Burtonwood Trustee Chairman

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

The Frost Foundation in an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs 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 are allocated on the portion of the asset’s use.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 33% Straight Line Motor vehicles 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 92,133 76,340

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

(Continued)

4 Raising funds

Fundraising and publicity
Staging fundraising events
Charitable activities
Charitable
expenditure
1
Charitable
expenditure
3
£
£
Grants and donations
13,212
-
Share of support costs (see note 6)
-
27,611
Share of governance costs (see note 6)
-
5,277
13,212
32,888
Analysis by fund
Unrestricted funds
13,212
32,888
13,212
32,888
For the year ended 31 December 2023
Unrestricted funds
13,295
32,994
13,295
32,994		 2024
£
46,612
46,612
Total
2024
£
13,212
27,611
5,277
46,100
46,100
46,100		 2023
£
34,553
34,553
Total
2023
£
13,295
27,610
5,384
46,289
46,289
46,289

5 Charitable activities

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6
Support costs
Support
costs
Governance
costs
2024
£
£
£
Staff costs
27,611
-
27,611
Depreciation
-
168
168
Rent
-
655
655
Printing & postage
-
957
957
Motor expenses
-
853
853
Sundry expenses
-
2,632
2,632
Insurance
-
-
-
Bank charges
-
12
12
27,611
5,277
32,888
Analysed between
Charitable activities
27,611
5,277
32,888
7
Net movement in funds
2024
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
-
Depreciation of owned tangible fixed assets
168		 2023
£
27,610
223
1,588
817
439
1,729
588
-
32,994
32,994
2023
£
-
223

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

Number of employees

2024 2023
Number Number
1 1
Employment costs 2024 2023
£ £
Wages and salaries 27,611 27,610

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

11
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
830
At 31 December 2024
830
Depreciation and impairment
At 1 January 2024
609
Depreciation charged in the year
100
At 31 December 2024
709
Carrying amount
At 31 December 2024
121
At 31 December 2023
221
12
Debtors
Amounts falling due within one year:
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Other taxation and social security
Other creditors		 Motor
vehicles
£
3,300
3,300
3,025
68
3,093
207
275
2024
£
1,300
2024
£
4,258
-
4,258		 Total
£
4,130
4,130
3,634
168
3,802
328
496
2023
£
2,033
2023
£
5,103
1,900
7,003

THE FROST FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
General funds (262) 92,133 (92,712) (841)
Previous year: At 1 January Incoming Resources At 31
2023 resources expended December
2023
£ £ £ £
General funds 4,240 76,340 (80,842) (262)

15 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).