Turnaround Foundatlon Company registration number 07294601 IEn8land & Wales) Registered charlty number 1138612 Report and Financial Staternents 31 December 2025
Turnaround Foundation Registered No.. 07294601 Content5 Pag• Trusteeg annual report Ilncludlng Dlrettors, Reportl Statemenl of Directors, responsibilities Statement of financial activities Balance sheet Notes to the financial statements Independent examlnerfs report
Turnaround Foundation REglstered No.. 07294601 Reference and Administrative Information Dlrectors & Trustees Garry Wllson Darren Forshaw Chrls Lewls Bankers Barclays Bank plc 69 Albion Street Leeds LSI SM Sollcltors Walker Morris 33 Wellington Street Leeds LSI 4DL Registered Offlce Ground Floor 12 King Street Leed5 LSI 2HL Independent Examlner Rob Whltehead BK Plus 52 St john's Lane HXI 28W
Turnaround Foundation Reglstered No- 07294601 Trustee5' annual report (including Directors, Report) The Trustees present their report and fin3nci31 statements for the year to 31 December 2025. Corporate and Chorltable status The company is a private company limited by guarantee and Piaving no share tapital. The company is reglsterèd as 8 tharity with the UK Charity Commission Ithe "Commi55ion"l and is governed by ihe provisions of its Memorandum and Artlcles of Associatiori. The registered charity number is 1138612. The Dlrectors of the charltable company are its trustee5 for the purposes of charity law. Principal activlty and revlew of the business As a Registered Charity, the principal attlvlty of the company during the year was the furtherance of charltable purposes for public bèneflt, in 8ccord3nce with the laws c>f England and Wales. The company focuse5 on Supporting underprivileged children and families to improvè thèir quality of IlfÈ, health, educalion and opportunities lor per50nal developmeHt. The Directors confirm they have complied wlth the duty in section 4 of the 2006 Act to have due regard to guidance on public benefit published by th8 Commi55ion. Thè Directors ère satisfied with the performance of the charlty for the year. Flnanclal review During the year, a substantial proportion of the funds generated were utllised in makirig charitable donations. The deficit for the year amounted to £6,08312024 deficit.. £15,254) as shown by the statement of flnanclal actlvltie5 on page 5. Rlsk management The trustees have a duty to identify and review the risks to which the Eharlty15 exp05ed atTrd to ensure appropriate conlrols are in place to provide reasonable assutance agalnst fraud and error. The tru5tee5 have 355essed the major risks to which the Charity 15 exposed and are 5at15fied that systems are in place to mitl8ate exposure to the major rlsk5. Directors The Directors who held office during the year were as follows.. Garry Wilson Darren Forshaw Chrls Lewls The Trustees declare that they have approved the Trustees, annual report Ilncluding Dlrectors, report) above. By order of the Board of Trustees Chr55 Lew15 Dlrector & Trustee 14 August 2026
Turnaround Foundation Registered No.. 07294601 Statement of Directors, responsibilities in respect of the Financial Statements The Directors are responsible for prep3ri#g thelr annual report and the financial 5tatement5 in actordance with applicable law Bnd United Kingdom Accounting Stand3rds (United Kingdom Generally Accepted Accountin8 Practice). The report and accounts have been prepared in accordance wlth the provlslons in the Companies Act 2006 relating to Small companies. Company law requlres the Dlrectors to prepare flnantlal stèlements for each year which give a true 3ncS fair view of the state of affalrs ol the company and of the surplu5 or deficit ol fund5 for that period. In preparlng those financial statements, the Olrectors are required to.. select suitable accounting policies and then apply them consistentlv,. observe the methods and principle5 of the Charities 50RP,. 8ke judgements and estimate5 that are reasonable and prudent- state whether applicable UK Accounting Standard5 have been followed, subject to any materi3 departures disclosed and explained In the flnancial statements,. prepare the linancial statements on the going concern basis unless it is inappropriate to presume that the £ompany wlll continue in business. The Oirettor5 are re5ponslble for keeping proper accounting records that dlsclose with reasonable accuracy at any time the financial position of the charitable company to enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are a15D responsible for safeguarding the assets of the charitable cornpany and hence for taking reasonable step5 for the prevention and detection of fraud and other irregul8rities.
Turnaround Foundation Registered No.. 07294601 Statement of financial activities for the year ended 31 December 2025 2025 2024 Unrestrlcted fund5 Unrestricted funds Notes Income Donations received 76,000 82,156 Gift aid recelpts Interest received 19,000 18,875 506 Total income 95,506 101,031 Expense5 Donations made 1100,6661 1115,5001 17851 Operatlng costs 19231 Total expenditure 101,5891 1116,2851 Net Ideficltllsurplu5 fur the year 16,0831 115,2541 Re¢onciliatlon ¢rf funds Total funds brought forward Nèt Id£ficltllsurplus of funds for the year Total funds carrltd forward 43,716 58,970 16,0831 115,2541 37,633 43,716 Staternent of total recognised galns and105ses There were nu recognised gains or losses in the year other than the surplus shown by the statement of fin3ncial activities. Thè attompanying notes are an integral part of thi5 statement of flnantial activities.
Turnaround Foundation Registered No.. 07294601 Balance sheet as at ai December 2025 2025 2024 Notes Cuirent assets Cash ai bank 37.139 25,561 18,875 Debtors 1.250 38,389 44,436 Current Ilabllltles Creditors,. amount5 falling duè within l year Total assets less current Ilabllitles 17561 37,633 17201 43,716 Reconclliation of funds: Unreslricted funds 37,633 43,716 Restrlcted funds Total funds 37,633 43,716 The company is emtltled to èxemption from audit under Section 477 01 the Companies Act 2006 fijr the vear ended 31 December 2025. The members have not required the company to obtain an audit of its flnancial statements for the year ended 31 December 2025 in accordance wlth Section 476 of the Companles Act 2006. The Olrectors acknowledge their responsibil&ties for.. lal en5urin8 that the company keeps accounting records which comply wlth 5ectlons 386 and 387 of the Companles Act 2W6 and Ibl preparing financial statements which give 3 true and falr vlew of the state of affairs of the company as at the end of each finantlal year and of its profit or105s for each flnancial year in accordance wlth the requirements of Section5 394 and 395 and whlch otherwise comply with the requirements of the Companles Act 2006 relating to financial statements, so far as applScable to the companv, The financial statements have been prepared in accordance wlth the pruvlslons applicable lo companies sublèct to the small companies, regime. The flnancial statements were approved by the 8oard ol Director5 and authorised for issue on 14 August 2026 and were si8ned on Its behalf by= Chris Lewls Dlreetor & Trustee The accompanying notes are an Integral part of the accounts
Turnaround Foundation Registered No.. 07294601 Notes to the financial statement5 for the year ended 31 December 2025 Accounting policies Ba¥15 Otactountlng The financial statements have been prepared uftder the h15torical c05t conventlon and In accordance wlth applicable aceountlns standard5 and the St3tement Of Recommended Practice.. Accounting and Reportln8 by Charitie5, preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republlc of Ireland IFRS1021 issued In October 2019. The charlty constltutes a publlc ljeneflt entitv as defined by FRSIO2. Recognltlon of Incomè Income 15 recognised in the Stalement of Financial Activities when.. the charity becomes entitled to the funds,. it is probable that the Trustee5 will receive the fund5,' and the mrJnEtary value can be measured with sufficient reliability. Tax reclaims on donatlons recelved Glft Aid is included a5 Income when there 15 a valid declaration from the donor. Any Gift Aid amount recovered Dn a donation is considered to be part of that gift and Is treated as an additlon lo the same fund as the initial donation un1&55 the donor or the terms of the appeal have Specified otherwise. Expenditure Liabilities are recognised as expenditure as 50Dn as there Is a legal or constructive obligatlon commlttlng the charity to that expendiiure, li is probable that a transfer of economic benefit5 whll be required In settlement and the amount of the obligation can be measured reliably. Tèxation Tht charitable company Is exempt from corporation tax on Its charitable activities. Fund accoulltlng Unre5trlcted fund5 can be Ltsed in accordance with the charitable Dbjectives at the discretion of the trustees. Restricted fund5 Can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes, Further explanation Csf the nature and purpose of each fund is included in the notes to the financ¢al statements. ReseNes The Charlty does not have a formal reserves policy. The reserves held at year end will be used for future donations and to meet the running costs of the Charlty.
Turnaround Foundation Reglstered No.. 07294601 Notes to the financial statements (continued) for the ypaT ended 31 Oecernber 202S Income and eypendlture Income represents charitable donatlons received during the year. Income and expEndlture are accounted loi an accrua15' basls. Director5 and employee5 The company has no employees trther th2n Its Dlrectors, none of whom recelved any remLFneratlon Irorn the company for their setvices during the year. Cash flow The company has not prepared a cash flow statÈment on the gfounds ihat It qualllle5 for exemption from dolng so as a small enterprise. Transactions wlth Trustees and related partles Duringtheyear. the company received £76.000 of donationsfrom theTrustees personallyl2024.. £75,500). Debtors At the year end, debtors balance was £1,25012024.. £18,875) represented a glft ald reclalm forthe accounting period). Credltors At the year end, credltors represented accruals in respect of professional fees in relation to the Independent ExamlMatlDn of £75612024.. £7201.
Turnaround Foundation Reglstered No.. D7294601 Independent examinerfs report lo the Trustees of Turnafound Foundatlon I report to the charlty trustees on the account5 of the company for the year ended 31 December 2025, which are set out or¢ pages S to 8. Respon51billtles and basls of report As the charitws trustees land also the Directors of the company for rhe purposes of company lawl you are responsible for the preparatlon of the accounts in accordance wlth the requlrements of the Cempanies Art 20061-the 20D6 ACVI. Having satisfied myself thit the accDurits of the Company are not requlred to be audited under Part 16 of the 2006 Act and are ellglblE fDr Independent examin4tion, I report In respe£t of my examlnatlon of your chèrlty's accounts as c3rried ovt under sectlon 145 01 thp ChBritie5 Act zoii I'the 2011 Act'l. In carrylng Dut Tlly examination I have followEd the Directlons given by the Charlty CommlssEon unde¥ 5ectlon 145lSI Ibl of the 2011 Act. Independent examlner's statement I have completed my examination, I conflrm that no matters have come to my attentlan In connectlon wlth the examtnatSon 8ivlng me cause to belleve that.. accounting records were not kept in accordance wlth secllcn 386 of the CompanSes Act 200G., or the 3ccount5 do not accord wfth such recowds,. or the accounts do not CDmply with relevant ac£ountln8 requlrements of sectlon 396 of the 2006 Act. other than any requirement that the accounts give a'true and fail viewwhlch 15 not a rn&tter considered 35 Part of an independent examinatlon,. or the 3CCDunts have not been prepèred in accordance wlth the methods aTrd prlnclples of the StBtement of Recommended Practice for acCOnting and reporting by charlties lappllcable to charities prep3rir*g thÈlr accounts in accordance wlth the Financial Report&nE Standard appllcable in the UK and Republic of Ireland IFAS 10211. I have no concerns and have come across no Dther matte¥s in connection with the examination to whlth attention should be drawn In thls rÈport In order to enable a proper understanding ol the accounts to be r@ached, Robert A Whltehead FCCA BK Plus Llmited 52 St John's Lane HXI 28W 14 August 2026