REGISTERED COMPANY NUMBER: 07094662 (England and Wales) REGISTERED CHARITY NUMBER: 1135811 Report of the Trustees and Unaudiled Financial Statements for the Year Ended 31 August 2024 for R.e.a.l. Foundation Trusl TUrnerwaan Glanford House Bridge Street Brigg North Lincolnshire DN20 8NF
ILe.a.L Foundation Trust Contents of the Financial Statements for the Year Ended 31 August 2024 Page Report of the Trustees Independent Examiner'5 Report io Statement of Financial Activities Balance Sheet 12 to 13 Notes to Ihe Financial Slatements 14 to 21 Detailed Statemenl of Financial Activities 22
ILe.a.l. Foundation Trust Report of the Trustees for the Year Ended 31 Augusl 2024 The trustees who are also direciors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities- Siaiement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial R¢porting Standard appliuble in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Since the company and the group qualifies as small under section 38). the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report & Directorfs report) Regulalions 2013 is not required. The R.E.A.L. Foundation Trust continues to provide an exciting rdnge of OPPOTtunities and services for children and young people acr055 the Ea51 Midland counlies of Nottinghamshire. Derbyshire and Leicestershire. Despite constraints on funds that has limited some progress. it has. once again. been a success1 )'ear in engaging children and their families in a range of events. These have been further enhanced by the support of local businesses which has enabled us lo reach out to a significanl number of local children and families with support of food, clothing and other essentials al a time of growing need. The Landmark Centre, from which the Charity operates. has continued to grow its reputation and reinforce the Charity's identity as a local leader in the provision of support for children and young people stggling to engage in mainstream opportunities. The Charity's coffee lounge has gained accolades for its quality produce and has continued to attract regulars from the local community and further afield. It remains a popular choice for providing work-based learning for young people across ihe year. The Trustees are pled with the engagement of children and young people on the site. This includes dalme alternative provision and after school activiti¢s. There are a few fiffth¢r groups which provide a broad range of opportunities to increasing numbers. The scout group has been going from strength to strength and has almost doubled its numbers to over l 00 since starting to operate from the venue. It has been good to see the reputation it is developing for working with children with additional needs. These aims are well aligned to the Charity. The impact of increased running cosls has slowed dowi the rate of improvemenl the Trnstee5 would have liked lo have made to the centre and the Size of the projects undertaken. They are actively seeking new approaches to fundraising in order to make progress in this area. Improved weather and a great turnoui produced another successful golf day tn July. Regulars and newcomers enjoyed excellent golf at Rufford Park and gave generously io support after school and holiday activities that the Charity will Provide during the autumn term. The Trustees have been delegaied individual roles during the year and have considered ways of improving support lo the Charity Manager in different areas. Each Trustee has a designated role based on their experience and interests. We have entered the final year of funding for a coordinator for the "Freetime" project. The "Freetime" project has successfully promoted independence and confidence for our target group and showed significant growth during the summer terni. li helps to address engagement dIlcultieS by iTJdividually working with young people to access a rdnge of experiences leading to supported group activities in their leisure time. We are pleased with the progress being made to strengthen our standing in ihe community and re<stablishing the Centre to meet local need. In the short time that the Charity Teaopened the Landmark Centre it has started to regain its local prominence. With this further engagement we hope to support the development of more quality Opportunities for hildren, young people and their families lo ¢njoy their leisure time and play more active roles in their communities. We are building links to local schools and organisations working with children and young people and broaden the offer of work placements and training to young people requiring focused support lo overcome challenges in a work setting. During these challenging times we understand the pressures on granl giving organisations. We shall focus on developing activilies that bring revenue through commercial opportunities and sponsored fundraising in addition to applications for grants from Organisations whose objectives are aligned to our olvn. Page I
ILe.a.l. Foundalion Trust Report of the Trustees for the Year Ended 31 August 2024 In the coming year, the Trustees will continue lo focus their efforts by targeting the broader factors in the communtty that impact on access to learning and engagemenl. In order lo meei its objectives a holistic approach to challeT]ges in the community will be taken. Page 2
R.e.a.l. Foundalion Trust Report of the Trustees for the Year Ended 31 August 2024 OWECTIVES AND ACTIVITIES . Purposes and Activities The purposes of the charity are: advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals" ' advancing education: ' relieving unemployment: providing recreational and leisure time activity in the interest of social welfare for people who have need by reason of their youth. age. infirmity OT disability. poverty or social and economic circumstances with a view lo improving the condition5 of life of such persons- the promotion of healthy lifestyles and the Provision of advice on the same The vision is shaped by the R.E.A.L. Foundation Trusi through seeking to raise the aspirations of children. young people and their families who have become disengaged from education and their communities and have consequently be¢om¢ significantly hard to reach. In paTthership with schools. colleges and specialisl organisalioTJs it provides opportuniiies for children and young people to stabilise situations and to develop their confidence. capacities and capabilities. Through the building of quality relationships and experiences. the R.E.A.L. Foundation Trust aims to enable young people to build up th¢ir self-esleem to enable them to participate independenL mature and responsibl¢ individuals within their communities and wider society- The Trustees take the holistic view that the reengagement in Education and communities needs a broad approach and attention to the detail of a young person's needs is a key to success in this work. 11 endeavors to support complementary approaches and working environments focused on encouraging children and young people with their engagemenl in the community. It seeks to provide assistance in all area5 of a yoimg person's wellbeing and personal development. b. STRATEGIES FOR ACHIEVING 0ECTIVEs The strategies employed for achieving our objectives within local communities include= ' the provision of sports and recreational activities to promote healthv lifestyles. identifying individuals. gTOUPS and organisations that require our support and work in partnership to develop progression in ihese areas. supporting delivery from similar organisations and individuals across a few venues in Nottinghamshire, Leicestershire and Derbyshire delivering stimulating and safe experiences for young people whilst looking particularly to develop the skills for independence and Work To put these strategies into action we shall have two major are&s of activity which are.. out of school activities that meet the needs of local communities and personalised engagement for young people with additional needs within thetr own communities. Finance is drawn mainly from grdnt aid, donaiions and fundrdising events. We have established a trading compaT]y, the "Roots" coffee shop and a Tange of fundraising events. The Charity Manager is a150 engaged in bid writing to support activities. Donations from surpluses made by the community café and commissions for the "Freetime" team will aid the targets for long terni stsbility. We shall continue to develop OUT commissioning model to extend the "Freetime" project. Further development of services on the Landmark site with commeT¢ial partners will also rdise income for pursuing our objectives. C. ACTIVITIES FOR ACHIEVING oWEIvEs During the course of the year, the Trustees conttnued to look at ways io fund proposals that will meel the charitable aims and enhance the learning experiences and outcomes for disadvantaged and hard to reach children and young people. There are several fimdraising events planned for the coming year and the facilities at the Landmark Centre will enable a broader rdnge of opportunities and increase the Charity's profile in the community. Page 3
ILe.a.l. Foundalion Trust Report of the Trustees for Ihe Year Ended 31 August 2024 New funding will ensure continuity of Freetime when the current grant expires and provide a long tern]. sustainable resource for young people's leisure time. The new café will donale any surpluses and provide a source of rev¢nue to the charity for the future. . VOLUNTEERS The R.E.A.L. Foundation Tftl is extremely grdleful io those who gave their services volunlarily over the past year and to businesses and individua15 who have sUPPOrted fundraising events. ACHIEVEMENTS AiYD PERFORMAiYCE . KEY FINANCIAL PERFORMANCE INDICATORS The development of a new revenue stream has l)een created by the "Roots" Café. Rentsl incomes at the Landmark Centre have also supported revenue. The Charity manager has been successful in taking new tenants in place of those who have moved on. Together wilh successful commissioning bids, grant support and donations the Trust can build on a healthy foundation during the coming year. The breadth of new donors has placed fundraising in a much stronger position. Challenges hav¢ been creaied by significant increases to the cost of utilities and other inflationary rises. We shall continue to work with tenanls and sile users on greater efficiencies. We continue to review the structured approach to bid writing. b. REVIEW OF ACTIVITIES 202>24 The Trust's success ITJ securing grants from local councillors enabled support through the pr()vision of food parcels for pupils and their families who would normally receive free school meals during the holiday periods. The grants contributed towards the costs incurred for providing the food, transportation and expenses inCued for this much needed support. This has helped us to encourage commercial partners lo participate in this supporL giving greater reach and impact. During this time, we supported a growing number of families and latest figures indicate in excess of 500 families and children have benefitled. In the Autumn term, holiday clubs that included trips to football malches. places of local interest and other local leisure ttme activities were run in conjunction with the "Freetime" project. In the Summer tern). with further support of grdnts from the local County Councillor, well supported holiday clubs were Tun at the Landmark Centre. These included sports days. arts and craft and technology sessions. Feedback was very positive, and the use of the centre is continuing to improve its footfall from both the local community and wider afield. The Charity Manager has worked with the local strategic partnership to develop business Strategy. e. FUNDRAISING ACTIVITIESIINCOME GENERATION The major fundrdising event was the golf day in July 2024. The Trust was also success1 in securing several small grants to achieve its objeciives. Moving forward to 24125, the provision of services for the "Freetime" project will fiffther support income generation. The "Roots" community Café will donate surpluses to the Charity ai its year end. d. INVESTMENT POLICY AND PERFORMANCE There were no sutplus funds to invest during the course of the year. Page 4
R.e.a.l. Foundation Trust Report of the Trustees for the Year Ended 31 August 2024 e. FACTORS RELEVANT TO ACHIEVE OKJECTIVES The unique relationships the charity has developed lo ensure th¢ quality delivery of services to children and young p¢opl¢ in n¢ed ar¢ a key to developing its profile &5 a major contributor to this area of work in the East Midlands where it is based. FINANCIAL REVIEW . GOING CONCERN After making appropriate enquiries. the Trustees have a reasonable expectation that the company has adequate resource5 to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern b&sis in preparing the financial stsiements. b. RESERVES POLICY Reserves ar¢ that part of th¢ Trust's unrestricted funds that is fr¢ely available to spend on any of the Charity's purposes. The Trust maintains free unrestricted Teserves to: Provide a level of working capilal thai protects the continuity of its cor¢ work Pr()vide funding to develop unexpected opportuniti¢5 Provide cover for risks such as unforeseen expenditure or unanticipated loss of income The Board of Trustees will apply the above criteria with reference to the annual plans and deiemiine the thrget level of reserves accordingly. Th¢ Board will at tim¢s designate funds from free reserves for significant project costs or the r¢placementlpurchase of major assets. c. PRINCIPAL RISKS & UNCERTAiiYfiES The Trustees have assessed the major risks to which the Trust Is exposed. At a time of increasing competition for funding streams and reductions in local authority spending, il is clear that direct funding will be limited and the margins for any services will come under scrutiny. The trusiees have identified some core areas for development that will help to maintain the Trusl's momentum and support future growth and security. This includes a review of existing areas of delivery to consider other revenue and delivery possibilities. Increased competition for funding opportunities has indicated that a rnore structured and sustained approach needs to be taken to project development. The Charity Manager will continue to develop this area of work. Ai a time when local authority cuibacks are having significant impact. the trnstees identify that although there will be risk and uncertainty, this will also provide the Trust with opportunities to increase their profile and outreach to young people in need. The cost of utilities has continued to be a major drain on income. The currenl contracts have a further year to run, after which it will be possible to renegotiate rates. d. FINANCIAL RISK MANAGEMENT oWEIVEs AND POLICIES By keeping overheads to a minimum the Trustees limit any financial risks. Such risk5, as they may occur, are continually monitored. All fund rdising events are safeguarded by sponsorship and a policy of assessing the risk and ¢n5uring brcak-even before confirniation. e. PRINCIPAL FUNDING The Charity has been funded by small grants from local and national OTganisations. Page 5
ILe.a.L Foundation Trusl Report of the Trustees for the Year Ended 31 August 2024 The support of a fundraising team and adrntnistration M'ill further ald the development of additional ndIng Streams in the future. A number of long-terni leases are in place to secure significant income. STRUCTURE GOVERNANCE & MANAGEMENT . CONSTITUTION The company and group is registered as a charitable company limited by guarantee. The company is a registered charity number 1135811 The principal object of the compan). is to provide support to young people during holidays and after school who present with the most challenging of individual needs and complexity. It supports delivery from organisations and individuals across a few organisations in the East Midlands. The focus is very much on delivering stimulating and safe experiences for young people whilst looking particularly at Organisations who offer real outcomes and promote skills for work and lif¢. There is a particular emphasis on achieving accredited outcome5 within the National Frdmework that are appropriate to an individual's needs and capabilities. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the company is the responsibility of the Trustees who are elected and C<H)Pted under the tenns of the Trust deed. c. POLICIES ADOYTED FOR THE INDUCTION AND TRAINING OF TRUSTEES 11 is the R.E.A.L. Foundation Trust's policy that Trustees should be supported in all aspects of charitable training that is needed in conjunction with their role. It will be made available as required. Opportunities have been identified for Trustees to attend courses and funding can be applied for directly from the Charity to support this. e. PAY POLICY FOR SENIOR STAFF The charity has no senior staff directly employed. f. RELATED PARTY RELATIONSHIPS The R.E.A.L. Foundation Trust mainlains a register of all Trustees interests and any potential conflicts that may arise during the course of their business. There is a clear structure within all meetings for the declardtion of 3rd party interests and these are minute. All TnleeS are aware of the related "Conflicts of Interesi. policy that sets out guidelines for their involvement. g. FINANCIAL RISK MANAGEMENT Trustees are awa that the development of the new headquarters and the "Freetime" service, will create an element of financial risk. These have been mitigated with long-terni sulFletting agreements ihat will cover a significant overhead. In addition. tight financial controls will be in place to manage the gr0h of the "Freetime" services and the support of long-terni grants to cover prineipal wages will go a long way to reduce risk and uncertainty. By keeping tight controls on overheads. Tntee5 will limit any financial risk. Page 6
ILe.a.l. Foundation Trust Report of the Trustees for the Year Ended 31 Augusl 2024 The Trustees have assessed the major risks to which the company is exposed. in particular those related to the operations and finances, and are satisfied that systems and procedures are in place to mitigate exposure to the rnajor risks. h. TRUSTEES INDEMNITIES In furtherance of the Articles of the charity: To provide indemnity insurance to cover the liability of the Trustees (or any Trustee) which, by virtue of any rule of law, would otherwise attach to them in respecl of any negligence, default breach of tt or breach of duty of which they may be guilty in relation to the Company provided that any such insurdnce shall not extend to any claim arising from any act OT omission which the Trustees (or any Trustee) knew to be a breach of trust or breach of duty or which was committed by the Trustees in reckless disregard of whether it a breach of trust or breach of duty or not; and provided that any such insurance shall not extend to the costs of an unsuccessful defence to a criminal prosecution brought against the Trustees (or any Trustee) in their capacity as Trustees (or Trusiee) of the Company. Indemnity insurance provision is made through brokers: Cowans (Mansfield) Insurers.. Policy Number: S22112 Date.. Renewal 0110912024 Indemnity amount: £ 1.000.000 FUTURE DEVELOPMENTS To provide resources to develop technology and wellbeing opporlunilies for children and young people.The development of a Centre of Excellence at Landmarks Centre, Pleasley. To develop "Freetime" services and facilities To add to the Trustee membership and to broaden the range of expertise. To develop further opportunities and broaden ihe range of fundraising aciivities. To continue to rdlSe the profile of the charity. MEMBERS LIABILITIES The Members of the Company shall be those registered as Directors of the R.E.A.L. Foundation Trust. The liability of the Members is limited. Every Member of the Company undertakes to contribuie such amouni as may be required (not exceeding one pound) to the a55ets of the Company in the event of it being wound up while he is a member or within one year after he ceases to be a Member for panent of the debts and liabilities of the Company contracted before he ceases io be a Member and of the costs, charges and expenses of winding-up and for the adjustment of the rights of the contributories among themselves TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees (who are also directors of R.E.A.L. Foundation Trust for the purpose of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). Company law Tequires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial slatemenls unless they are salisfi¢d ihat they give a te and fair view of the state of affairs of the charitable company and of the incoming resource5 and application of re50urce5, including the incom¢ and expenditure, of the charitable group for thai period. In preparing these financial statements, the Truslees are required to-. Seleci suitable accounting policies and then apply them consistently ' Observe the methods and principles in the Charities SORP ' Make judgements and accounting eslimates thai are re&sonable and Prudent Page 7
e.a.L Foundation Trusl Report of ihe Trustees for the Year Ended 31 Augusl 2024 Prepare financial statements on the going concern basis unless it is appropriate to presume thai the charitable group will continue in operdtion. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitable company and the group'5 transactions and disclose with reasonable accuracy at any tim¢ the financial position of th¢ charilable group and enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of ud and oih¢r irr¢gularities. DISCLOSURE AND INFORMATION TO AUDITORS Each of the persons who are Trustees at the time when this Trustees, Report is approved has COT]fiThed that.. So far as that Trustee is aware, there is no relevant audit inforniation of which the charilable group's auditors are unaware That Trustee has taken all steps that ought to be taken as a Truslee in order to be aware of any relevant audit infonnation and to establish that the charitable groups, auditors are aware of that infonnation. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing d(KumenL a deed of tr$[ and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07094662 (England and Wales) Registered Charity number 1135811 Registered offiee The Landmark Chesterfield Road North Pleasley Mansfield NG19 7SP Trustees Miss J R Byatt MrRDay Mrs J A W Evans Mrs J Keely MrSFRyan Mrs C F Ryan Mr B C Srnith Company Secretary Miss J R Byatt Independent Examiner Keith Huni BA{Hons) ACA Turnerwarrdn Glanford House Bridge Street Brigg North Lincolnshire DN20 8NF Approved by order of the board of trustees on 23 May 2025 and signed on its behalf by: Page 8
Reprt •ftbe Trn ror iht Vmr F.aded 31 1024 S F Ry•n . Tn¥*e -r
Independent Examiner's Report to the Trustees of ILe.a.l. Foundalion Trust Independent ex8miner's report to Ihe Irustees of Ke.a.l. Foundation Trust {'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. l report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act.). In carying out my examination I have followed the Directions given by th¢ Charity Commission under Section 145(5) (b) of the 201 l Act. Independent examiner's statement I have completed my examination. I confirni that no matters have come to my atteniion in connection with the examination giving me cause to believe= accounting records were nol kept in respect of the Company required bv Section 386 of the 2006 Act. 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 ihe accounts give a true and fair view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounling and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Sthndard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and hav¢ come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Keith Hunt BA{Hons) ACA The Institut¢ of Chartered Accountants in England and Wales Turnenvarrdn Glanford House Bridge Street Brigg North Lincolnshire DN20 8NF 23 May 2025 Page 10
ILe.a.l. Foundation Trust Sta¢¢menl of Finaneial Activities for the Year Ended 31 August 2024 31.8.24 Total funds 31.8.23 Totsl funds Unrestricied fund Restricted fund Notes INCOME AND ENtK)WMENTS FROM Donations and legacies 11.443 25.OIMb 36,443 108.881 Other trading activities Investment income 20,722 131,417 20,722 131,417 18.391 61,221 Total 163,582 25,000 188,582 188.493 EXPENDITURE ON Charitable activities Grants 5.918 29,933 35,851 52,700 Other 175J64 8,770 184.134 131.190 Total 181,282 3&703 219,985 183,890 NET INCOMEI{EXPENDITURE) (17.71MI) (13,703) (31,403) 4.603 RECONCILIATION OF FUNDS Total funds brought forward 57,971 173,531 231,502 226,899 TOTAL FUNDS CARRIED FORWARD 40271 159,828 200,099 231,502 The notes forni part of these financial statements Pa2e 11
ILe.a.l. Foundation Trust Bal#n¢e Sheet 31 August 2024 31.8.24 Total funds 31.8.23 Total funds Unrestrieted rund Restricted fund Notes FIXED ASSETS Tangible assets 159,828 159,828 168,598 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 3,117 96,839 3,157 3,117 96.839 3.157 3.047 45,397 57,768 10 103,113 103,113 106.212 CREDITORS Amounts falling due within one year (62,842) (62.842) (43.308) NET CURRENT ASSETS 40271 40,271 62,904 TOTAL ASSETS LESS CURRENT LIABILITIES 40271 159,828 200,099 231.502 NET ASSETS 40,271 159,828 21KI,099 231,502 FUNDS Unrestricted fund5 Restricted funds 12 40.271 159,828 57,971 173,531 TOTAL FUNDS 200,099 231,502 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. The members have not required the company io obtain an audit of its financial ststements for the year ended 31 August 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 records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the slale of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othenyise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitsble company. (b) The notes forni part of these financial statements Pa2e 12 coniinued...
L FoMnd•tl•n Trn Balaoce Sbeet- eo8da•ed JI Augm 2024 Thue flMn¢l•l ststemeTrts' have been prq)aTed in acCordot vlith the proviilDrd •wlic4bl¢ w ¢lwrK•bk ¢onyani¢s SfthJeL't to the companles Tewme. The firwicial ¥eMents wue 4JpmeAI by BoArd of TnMtst• Ind •n¥t for i•sw on 23 MAY 2025 85y¢d ots its hrby. S F Ryan . Tna*c P4e 13
R.e.a.l. Foundation Trust Notes to the Financial Slatements for the Year Ended 31 August 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The 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: Ststemenl of Recommended Practice applicable to chariiies 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 21)06. The financial stst¢m¢nts have been prepared under the historical cosl convention. Income All income is recognised in ihe Statemenl of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to ihe category. Where costs cannot be directly attributed to particular headings they have been allocated to activilies on a basis consistent wilh the use of resources. Tangible fixed assets Depreciation is provided ai ihe following annual rates in order to write off each asset over its estimated use1 life. Fixtures and fittings 200/0 on reducing balance Stocks Stocks are valued at the lower of cost and nel realisable value, after making due allowance for obsolete and slow moving ilem5. Taxation Th¢ charity is exempt from corwrdtion tax on its charitsble activities. Fund aecounling Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particulat restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fimds 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. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straighi line basis over the period of the lease. Page 14 continued.
ILe.a.l. Foundation Trust Notes lo the Financial SlatemeDts- ¢onlinued ror the Year Ended 31 August 2024 OTHER TRADING ACTIVITIES 31.8.24 31.8.23 Fundraising events Charitable aims befriending 11,956 8,766 12.236 6,155 20,722 18,391 INVESTMENT INCOME 31.8.24 31.8.23 Rents received 131,417 61,221 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after charginW(crediling): 31.8.24 31.8.23 Depreciatton - owned assets Other operating leS 8,770 37,121 10,833 29.458 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. Trustees, expenses There were no trustees. expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 31.8.24 31.8.23 Other No employees received emoluments in excess of £60,000. Page 15 conlinued...
R.e.a.l. Foundation Trust Notes to Ihe Financial Stalements- continued for the Year Ended 31 August 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricled fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 83,881 25,000 108,881 Other trading activities Investment income 8,048 61,221 10.343 18,391 61,221 Total 153.150 35,343 188.493 EXPENDITURE ON Charitable activities Grants 6,902 45.798 52,700 Other 120,357 10.833 131,190 Total 127,259 56,631 183,890 IYET INCOMEI(EXPENDITURE) 25,891 (21,288) 4,603 RECONCILIATION OF FUNDS Total funds brought fonvard 32,080 194,819 226,899 TOTAL FUNDS CARRIED FORWARD 57.971 173.531 231,502 TANGIBLE FIXED ASSETS Fixtures and rittings Short leasehold Totals COST At I September 2023 and 31 August 2024 124,749 54,822 179,571 DEPRECIATION At I September 2023 Charge for year 10,973 8,770 10,973 8,770 At 31 August 2024 19,743 19,743 NET BOOK VALUE At 31 Augusi 2024 124,749 35,079 159,828 At 31 August 2023 124,749 43,849 168.598 Page 16 continued...
ILe.a.l. Foundation Trust Noles to the Financial Statements- continued for the Year Ended 31 August 2024 STOCKS 31.8.24 31.8.23 Stocks 3,117 3,047 io. DEBTORS: AMOUNTS FALLIIYG DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade debtors Other debtors Prepayments and accrued income 70,250 19,992 6,597 24.588 18,392 2.417 96,839 45,397 CREDITORS: AMOUNTS FALLING DUE WITHIIY ONE YEAR 31.8.24 31.8.23 Trade creditors Social security and other laxes Pension Other creditors Accruals and deferred income 58,037 171 190 2,000 2.444 35.541 3.082 238 2,000 2,447 62,842 43,308 12. MOVEMENT IN FUNDS Nel movement in funds At 31.8.24 At 1.9.23 Unrestricled funds General fund 57.971 (17,700) 40,271 Restricted funds Grants 173531 (13,703) 159.828 TOTAL FUNDS 231,502 (31,403) 200,099 Page 17 continued..
ILe.a.l. Foundation Trust Notes to the Finaneial Statements- continued for the Year Ended 31 August 2024 12. MOVEMENT IN FUNDS- Continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 163,582 (181,282) (17,700) Restritted funds Grdnts 25,OIMI (38.703) {13,703) TOTAL FUNDS 188,582 (219,985) (31,403) Comparatives for movement in funds Net movement in funds At 31.8.23 At 1.9.22 Unrestricted funds General fund 32,080 25,891 57,971 Restricted funds Grants 194.819 (21,288) 173.531 TOTAL FUNDS 226.899 4,603 231,502 Compardtive net movement in funds. included in the al)ove are as follows: Intoming resources Resources expended Movemenl in funds Unreslrieted funds General fund 153,150 (127,259) 25.891 Restricted funds Grants 35,343 {56,631) (21,288) TOTAL FUNDS 188,493 (18i,890) 4.603 Page 18 continued...
tLe.a.l. Foundation Trust Noles to Ihe Financial Staternents - continued for the Year Ended 31 August 2024 12. MOVEMENT IN FUNDS- eonlinued A current year 12 months and prior year 12 months combined position is as follows: Net moi'¢ment in funds At 31.8.24 At 1.9.22 Unrestrtcted funds General fvnd 32,080 8.191 40.271 Restri¢¢ed funds Grants 194,819 (34,991 } 159,828 TOTAL FUNDS 226.899 (26,800) 200,099 A current year 12 months and prior year 12 months combined net movement in funds, included in ihe above are as follows: Incoming resources Resources expended Movement in funds Unrestricled funds General fund 316,732 (308.541) 8.191 Restricted funds Grants 60.343 (95.334) (34,991) TOTAL FUNDS 377.075 (403.875) (26,800} Page 19 continued...
ILe.a.l. Foundation Trust Notes to the Financial Statements - eontinued for the Year Ended 31 August 2024 12. MOVEMENT IN FUNDS- tonlinued Movement of Net Assel funds- current year Balance al I September 2023 Balance at 31 August 2024 Incom¢ Expenditure Unrestricted funds Generdl funds - all funds 57,970 163.582 (181,352) 40.200 Restricted funds Jones 1986 Charitable Trust 4,934 25,000 (29.934) 4.934 25,000 (29,934) Tolal of funds 62,904 188,582 (211,286) 40,200 Jones 1986 Charltable Trust donated to assist with the Landmark project and also towards staff costs. Movement of Net Assets funds- prior year Balance at I September 2022 Balance ai 31 August 2023 Incorne Expenditure Unrestricted funds Generdl funds - all funds 32,080 153,149 (127,259) 57,970 Restricted funds Student Enterprise Community Outreach Leicestershire & Rutland Trust Children in Need Florence Turner Sporting Heritage Jon¢s 1986 Charitable Trusl Jones 1986 Charitable Trust Mansfield District Council National Lottery Nottinghamshire County Council 492 1,981 ,132 (492) (1,981) (1.132) (10,343) (540} (375) (20.066) (21,489) {2.000) (154) (2.359) 10.343 540 375 25,000 4,934 21.489 2.000 154 2.359 30.522 35.343 (60,931) 4,934 Totsl of funds 62,60? 188.492 (188.190) 62,904 Page 20 continued...
ILe.a.l. FoundatlOD Trust Notes to the Financial Statements - continued for the Year Ended 31 August 2024 13. RELATED PARTY DISCLOSURES There were no relaied party transactions for the year ended 31 August 2024. Page21
R.e.a.l. Foundation Trust Detailed Statement of Financial Activities for ihe Year Ended 31 August 2024 31.8.24 31.8.23 INCOME AND ENDOWMENTS Donations and legacies Donations 36,443 108.881 Other trgding aetivilies Fundraising events Charitable aims befriending 11,956 8,766 12,236 6,155 20,722 18,391 Investment income Rents received 131,417 61.221 Total ineoming resources 188,582 188,493 EXPENDITURE Charitable aclivilies Unrestricted funds activity Restricted funds activity 5,918 29,933 6.902 45,798 35,851 52,700 Other Wages and associated costs Depreciation of tangible fixed assets 29,675 8,770 14,695 10,833 38,445 25,528 Support costs Management Rent Rates and water Insurance Light and heat Accountancy fees Printtng and advertising Bank charges Premises expenses Legal and professional 37,121 1.750 2,521 80J91 2,443 1,089 29.458 1,630 2,774 59,012 2.160 1,307 226 7,955 .140 17,473 2,818 145,689 105,662 Total resources expended 219,985 183,890 Net (expenditure)/income (31,403) 4,603 This page does not forni part of the statutory financial statements Page 22