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← Cheshire Community Foundation Limited

2023-12-31-accounts

Trustees' Report and Financial Statements For Cheshire Community Foundation Limited (A company limited by guarantee)

For the year ended 31 December 2023

Registered number: 07731278 (England and Wales) | Charity number: 1143711

CHESHIRE COMMUNITY FOUNDATION LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Reference and Administrative Details 1 to 2
Report of the Trustees 3
Report of the Independent Auditors 14 to 16
Statement of Financial Activities 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Cash Flow Statement 20
Notes to the Financial Statements 21 to 38
Detailed Statement of Financial Activities 39 to 40

CHESHIRE COMMUNITY FOUNDATION LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

The directors of the charitable company, Cheshire Community Foundation Limited (the Foundation), are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.

TRUSTEES Jake Ankers
Diane Brown (resigned 27.10.23)
Andrew Butters (Treasurer)
Sarah Callander Beckett D.L.
Jeannie France-Hayhurst
Sean Humphreys
Terry Inns (Chair of Grants Panel)
Nicola Owen
Howard Platt D.L. (Chair)
Zoe Sheppard D.L. (appointed 1.1.24)
David Wootton D.L. CBE (appointed 27.1.23)
PRESIDENT Lady Alexis Redmond MBE (H M Lord Lieutenant of Cheshire)
EXECUTIVES
 Zoe Sheppard D.L. Chief Executive Officer (Resigned 31.12.23)
Melanie Sproston Chief Executive Officer (Appointed 1.2.24)
Margaret Cheshire Chief Operations Officer
COMPANY SECRETARY Charles Agar
REGISTERED OFFICE C/O The Challenge Academy Trust
Bridewater High School
Broomfields Road
Warrington
Cheshire
WA4 3AE
REGISTERED COMPANY NUMBER 07731278 (England and Wales)
REGISTERED CHARITY NUMBER 1143711
AUDITORS Murray Smith LLP
Chartered Accountants
Statutory Auditors
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU
BANKERS Santander
Bootle
Merseyside
L30 4GB

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CHESHIRE COMMUNITY FOUNDATION LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

SOLICITORS Gorvins Solicitors Dale House Tiviot Dale Stockport SK1 1TA INVESTMENT MANAGERS CCLA One Angel Lane London EC4 3AB

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees who are also directors 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 December 2023. The trustees have adopted the provisions of 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 1 January 2019).

INTRODUCTION

Our vision is to make a tangible difference to the most disadvantaged in Cheshire and Warrington by providing high quality grants to support the most effective charities and community organisations. We are hugely grateful to all those who support CCF for their generosity and hope that they are proud of the difference they have made. Our positive relationships with donors, funding partners, statutory organisations, infrastructure organisations and local charities has enabled us to respond to local need with a range of grants programmes.

In 2023, we continued to develop our place-based approaches to reflect the diverse needs of the local areas we support and the team worked hard to grow donations and provide donors with up-to-date information on the areas of need locally. Although the economic context remained challenging, the team continues to be focussed on achieving sustainability, to ensure we are capable of making a longer-term impact.

In 2023, we continued to develop our place-based approaches to reflect the diverse needs of the local areas we support and the team worked hard to grow donations and provide donors with up-to-date information on the areas of need locally. Although the economic context remained challenging, the team continues to be focussed on achieving sustainability, to ensure we are capable of making a longer-term impact.

HIGHLIGHTS

We are delighted to have raised £1,729,259 in new donations and been able to award 220 grants, totalling £1,801,390 . Our loyal donors have continued their commitment to supporting local charities; it is a joy to work with them and share the impact made as result of their generosity.

In 2023, we managed a wide range of grants programmes on behalf of our donors and had the opportunity to support a wider variety of activity, from days out for disadvantaged children and families and interventions for ex-offenders, to transformational larger scale multi-year programmes addressing food poverty. We also managed two larger open grants programmes in 2023 to address local priority and place-based needs. These programmes targeted the geographic areas identified as significantly impacted by poverty and disadvantage in the Index of Multiple Deprivation and were supported by our place-based funders alongside other generous donors.

Our focus on a place-based approach has contributed to the growth of funds focused on specific geographies informed by our understanding of the needs in these places. These funds, supported by a range of donors, are increasingly helpful in underpinning our work in the most disadvantaged geographies. In 2023, with the support of a private donor, we invested in the development of a new place-based fund for Warrington. The support from local charities and donors has been very encouraging with grant-making for this fund due to start early 2024.

Our Small Grants Programme , which offers quicker access to grants of up to £2,500, in response a broad range of needs has continued to grow. We were encouraged by the willingness of donors to support these smaller grants to the value of £216,000 over 2023.

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

CCF are delighted to manage grants programmes on behalf of Cheshire based corporates . We are grateful for our longstanding partnership with Bentley Motors which continues to develop year on year with their grant-making initiatives focussed on delivering clear outcomes for Crewe and the surrounding area. The significant donations from Encirc and the MBNA Foundation in 2023 to address specific local themes were much appreciated and grant-making on behalf of these organisations will continue in 2024.

We were thrilled in 2023 to agree a partnership with EMR Group to manage their charitable giving over the next three years. As an international recycling business, head quartered in Warrington, we are pleased to support them with local and national grants programmes that deliver social value, working with other Community Foundations to deliver this. Although Assura Plc moved their Head Office in 2023, our valued partnership with them continues to evolve with a range of targeted and innovative grant-making programmes regionally.

Our Cheshire 100 Supporters Club members, a growing network of individuals and corporates investing in the work CCF does locally, are much appreciated for the fantastic support they provide both financially and in kind.

We are grateful to all the stakeholders who support CCF in maintaining our knowledge of local areas, particularly our grant partners, Cheshire East, Cheshire West and Chester and Warrington Borough Councils, individuals with lived experience, the infrastructure organisations for the voluntary and community sector in Cheshire and Warrington and those who give up their time to contribute to our grants panels and impact groups.

WHAT CHESHIRE COMMUNITY FOUNDATION (CCF) DOES

Our specialist team connects people who want to give, with Cheshire and Warrington’s most effective, grass-roots charities and not-for-profit organisations to help those most in need.

Our agreed long-term aims are:

How we do it:

We aim to make giving to charity an enjoyable, uplifting experience, where our donors - individuals, families, corporates, the public sector, charitable trusts and foundations - can see how vulnerable lives are changed as a direct result of the donations they make. Investing wisely in charities is not as easy as it sounds. We are conscious that our donors do not have the time to manage incoming requests for support, pore over charity accounts and business plans, review budgets and project plans, check governance and make sure that the money awarded is spent as it was intended. We provide the opportunity to outsource the process of needs research and analysis, due diligence, payment, and project monitoring, whilst sharing the project impact, successes and stories of the people helped through the donations made.

We advise donors who want to focus their funds on priority areas of need in specific geographic areas, within the local community. Equally, if donors are clear on the issues they want to help tackle, we can connect them with effective projects.

As a community foundation, we recognise the need to support the voluntary sector respond to the “cost-of-living” challenges alongside longer-term strategic funding, to enable charities to thrive and achieve measurable and sustainable outcomes.

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

FUNDRAISING

In line with our vision, we look to raise funds that enable donors to make a difference to the most disadvantaged people living in Cheshire and Warrington. This means both increasing donations to existing funds and engaging new donors, whether through donor-advised funds, place-based funds or Trustee-managed funds. These funds are supported by robust grant making processes and appropriate due diligence, to make sure every penny is well spent to make the biggest possible difference. We recognise the importance of taking a longer-term approach with strategic grant-making activity. To support our longer-term strategy, we aim to further grow our endowment funds for local grant-making in perpetuity.

In 2023, there was an increase in the value of donations from corporates, alongside repeat donations from donors; an encouraging sign of their engagement with the work we do and their understanding of the impact of their generous donations. Our Cheshire 100 Supporters Club network played a vital part in our work in 2023, to ensure we have sufficient unrestricted funds to meet our lean operational costs and to maintain our strong and sustainable financial position. We recognise that growing our endowment funds will be a priority to enable us to grow our funds for grant-making and continually ensure our organisation’s sustainability to allow us to make an increasingly strategic contribution to our voluntary sector, in the many years to come.

GIVING OPTIONS

We are always grateful for all donations, of any value, which may be made to:

WORKING TOWARDS SUSTAINABILITY

We continue to benefit from many generous supporters who make significant contributions to the running of CCF:

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

In the long term, as donation levels increase, we are working towards full financial sustainability but the support above and the generosity of our Cheshire 100 club ensures that we can minimise our costs for grant-making services, including due diligence and assessment (with a minimum of 88% of donations going directly to local charities and groups).

GRANT-MAKING

In 2023 we were proud to have made grant awards of £1,801,390 supporting a huge range of projects and organisations – from those supporting people experiencing the complex and inter-related impacts of poverty and financial disadvantage, exacerbated by the rising cost of living; to those helping to reduce isolation and providing ways to improve mental health; to supporting people to build new futures after being in the criminal justice system; to helping people back into learning, training and employment; and to offering a safety net for people dealing with the pressures of caring responsibilities, disability and crime.

We want Cheshire and Warrington to be a place where, regardless of where they live:

To achieve this, we ensure that we strive to:

GRANT-MAKING PARTNERSHIPS

We share full details of our grant making via the public search portal 360Giving/GrantNav and maintain strong relationships with other local foundations and funders to avoid duplication or overlap and to maximise the impact of local funds and matching initiatives. We also encourage charitable partners to collaborate where appropriate.

We are pleased to have continued to develop our relationship with the three local authorities in Cheshire East, Cheshire West and Chester and Warrington. This has enabled us to understand the support available from the local authorities and governmental resources and ensure that funds from donors are used most effectively to address need, optimising the limited resources available overall.

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

OVERVIEW OF GRANTS DISTRIBUTION

We awarded 220 grants, totalling £1,801,390, supporting more than 143,800 beneficiaries (2022: 126,500 beneficiaries).

Grants Awarded by Key Programmes - Values Amount
Awarded		 Percentage of
Total
Fund it Forward 2023 £339,876 19
Assura Growth and Impact, and targeted place-based £241,154 13
Cheshire and Warrington Small Grants £216,317 12
Proactive Donor programmes including Best Days and Unlocking Brighter Futures £214,841 12
Building Brighter Futures Programme – EMR Group £214,000 12
Bentley Advancing Life Chances and Crisis Fund £181,062 10
Donor Directed Funds £142,169 8
Warrington and Knutsford Place Based Funds £133,899 7
Cheshire East Food Coordinator Provider Programme (in partnership with Cheshire
East Council)		 £90,000 5
Other – including High Sheriff’s Fund £28,072 2
TOTAL £1,801,390 100%

Grants awarded by local authority area:

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

In 2023, our grant making team continued to work strategically on a Cheshire and Warrington-wide basis, to reduce the impact of disadvantage, acknowledging that change takes time and requires resource committed over many years. We recognise the importance of multi-year funding which allows voluntary and community frontline sector (VCFS) organisations to take a longer-term view, embed work more effectively and plan for their sustainable future, and are gradually expanding this aspect of our work, alongside smaller, shorter-term grant making to support responsive grassroots projects. Our aim is to address the imbalance of funding distribution across the three local authorities we support in line with population size, which will come from growing the place-based funds supported by multiple donors in these respective local areas e.g. Warrington.

We continue to monitor local need to ensure that our grant-making can be effectively targeted, and to make links across sectors, working proactively to bring about change. This has included a more structured approach to monitoring the overall impacts of specific programmes so that we can fully demonstrate the difference that funding has made.

We have also been working closely with community leaders to develop an effective approach to increasing our impact locally and have supported colleagues developing plans for the new approach in Warrington with local intelligence and active consultation work. In general, we continue to develop and strengthen on-going relationships with voluntary and community organisations, and with cross-sector partners, working strategically to address significant challenge. We have been pleased to work in partnership with Cheshire East Council to ensure a joined-up approach to emergency and affordable food provision, inspired by the successful partnership and matched funding approach with CCF and Warrington Borough Council which has been transformational.

Our thanks go to Warrington Voluntary Action, Cheshire West Voluntary Action, Cheshire East CVS who have helped raise awareness of our funds and grant making and have participated on our Grants Panels.

To ensure that we continued to fulfil our objectives and maximise public benefit, all applicant groups are required to show that they have charitable objects (whilst they do not need to be registered charities, they do need to be not-for-profit organisations). Each grant application is rigorously assessed against standard criteria including evidence of need, community use and involvement, governance, finances, and organisational ability to manage, together with the ability to achieve powerful and measurable outcomes. Each applicant group provided a detailed application, its constitution, accounts, child protection and vulnerable adults policies as applicable. We ensure that what we ask of applicants is proportionate and we are committed to working in line with the Institute of Voluntary Action Research (IVAR) principles for open and trusting grant-making.

Work on behalf of our corporate donors continued to flourish in 2023. The second year of our Advancing Life Chances programme delivered for Bentley Motors, targeting specific needs in the Crewe area, distributed over £170,000 including continuation funding for three strong projects from the previous year. Our partnership with Assura Plc delivered its fourth year of grant-making both locally and nationally, accounting for the majority of grants awarded outside of Cheshire and Warrington Local Authorities. We also designed and delivered a new programme focusing on young people for EMR, in four different geographic areas, including Cheshire and Warrington, working closely with Community Foundations in targeted areas.

Corporate donors and partnerships continued to play a vital part in more strategic grant making via our place-based group funds and supporting programmes including Fund it Forward.

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW

We received new donations of £1,729,272 in the year (2022: £1,663,025) of which £1,540,032 was donated for grant making. We received investment income from endowments of £245,988 (2022: £233,037). There were no valuation gains above inflation to be encashed in 2023 (2022: £21,300). During the year we paid out grant funding of £1,729,258 (2022: £1,499,976). This excludes two grants totalling £80,000 awarded in 2023 (thus grant awards of c£1.8m) but not committed to their respective grantees until after year end. However, our grants expenditure includes c£12,000 from 2022 awards only confirmed as donor funded in 2023.

We held endowment funds of £6.966 million on 31st December 2023 (2022: £5.938 million).

We held restricted funds of £2.521 million on 31st December 2023 (2022: £2.925 million).

The Charity’s core fund increased slightly during the year and stands at a sum of £338,070. The Trustees are comfortable with this level even though it is c. 90% the one year’s core costs - a reserve equal to 12 months of core costs is the ideal as stated in our Reserves Policy.

INVESTMENT POLICY

The Board has a Finance, Risk, Operations and Grants Committee consisting of five Trustees, external advisers and was attended by the Chief Operations Officer. This committee oversees the management of funds to ensure an appropriate investment policy regarding risk and the need to balance capital and income return.

Our endowment monies were invested by CCLA in their Ethical Investment Fund. In 2023 the COIF Charities Ethical Investment Fund delivered a total return of 13.2%. This matched the benchmark comparator, in a year in which the final quarter staged a significant market rally. The relative performance against benchmark supported the asset allocation and stock selection. This total return comprised an income yield of 2.8% bolstered by portfolio value gains of 10.4%. The first months of 2024 have seen the market rally continuing. These investments are held for the long term and whilst the position will be kept under review, we do not currently foresee any policy change in this regard.

The Foundation seeks to support its work with the returns generated from an investment portfolio. Inevitably the portfolio is exposed to a number of potential risks, these include:

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

In order to mitigate these risks, we regularly review investments and have an agreed investment policy. Some of our endowment funds are required to be held with CCLA, based on the match-funding previously provided by the government. For other endowments, an investment management review is completed at least every 3 years. Holdings are diversified by asset type, geographic location, sector, and individual security. In light of the continuing investment uncertainty, we have worked with CCLA and are maintaining portfolios in line with their recommendations.

The Trustees will keep our investment policy under review as further endowment monies are raised.

Funds derived from revenue donations for grant-making and core costs are retained in bank accounts, term deposits, and the COIF Charities Deposit Fund unless otherwise agreed by donors. In placing deposits, we seek to optimise interest returns as far as possible within an overriding objective of ensuring their safety.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Cheshire Community Foundation Limited is a company limited by guarantee, company number 07731278 and a registered charity, registration number 1143711. The Trustees of the charity and its principal advisers are listed on page 1.

The Foundation is governed by its Memorandum and Articles of Association. The Articles of Association set out the powers of the Board of Trustees; there are currently ten Trustees. Our current Trustees are also the Members of the CCF.

The objects of the Charity, as set out in the Memorandum and Articles of Association, are:

The Board of Trustees of Cheshire Community Foundation Limited is responsible and accountable for strategic direction and collectively setting and monitoring the Foundation's impact against its vision, mission, and objectives. As guardians of the Foundation, all Trustees are equally responsible in law for the Board's actions and decisions.

As Directors of the company, all Trustees take legal and fiscal responsibility for the funds entrusted to them. The Trustees are responsible for ensuring that the Foundation is performing well and is delivering on the charitable objectives for which it was set up, in accordance with its Memorandum and Articles, as well as ensuring that goals outlined in its Business Plans are achieved. The full Board of Trustees meets quarterly. Between Board meetings business is conducted by sub-committees with delegated responsibility for operational oversight. The two sub-committees during the year ended 31st December 2023 were:

The above committees have a Terms of Reference document which sets out the powers and authority delegated to them. These can be found in both the Trustee and Staff Handbook.

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The Finance, Risk, Operations and Grants Committee has been delegated responsibility for the Foundation's grant making function and consisted in 2023 of the Chief Operating Officer, Margaret Cheshire, our Chair, Howard Platt, Andrew Butters, Diane Brown (resigned October 2022), Terry Inns, Jake Ankers and Nicky Owen. The Finance, Risk, Operations and Grants Committee is jointly chaired by Andrew Butters and Terry Inns (Diane Brown until her resignation). The Committee approves recommendations made to it by the Foundation's Grant Panels and takes responsibility for the appropriate allocation of grant awards from the restricted funds under its management (both discretionary and donor advised). The Committee also has delegated powers to veto decisions made by the Grant Panels but only:

All grant applications are assessed at Grant Panel for evidence of need, community benefit and value for money.

The Committee has also been delegated responsibility for overseeing all audit, financial, investment, and risk management aspects of Cheshire Community Foundation Limited.

A Remuneration Committee meets once a year (at year end) to discuss staff remuneration and reward. This committee makes recommendations to the full Board of Trustees.

THE BOARD

The Board continues to review its skills, diversity, and expertise on an annual basis to ensure continued good governance and delivery of the Foundation's objectives and Business Plans. This skills audit and diversity overview provides a context for Trustee recruitment and Board planning. The three Trustees who joined in Autumn 2022 and early 2023 have now completed their induction and are making a valued contribution.

We acknowledged the significant commitment and contribution Diane Brown had made to CCF as she resigned from her role in Autumn 2023. Diane, as Chair of Grants activity, supported CCF very effectively in the growth of our grant-making activity over the past few years. Her focus and willingness to devote time to ensuring CCF delivered to a high standard, particularly during the Covid pandemic period, was invaluable and allowed CCF to respond efficiently and effectively.

All Trustees have an individual annual review meeting with the Chair of the Board. Trustees remain committed to their ongoing training and development. This includes learning from other Community Foundations, liaising with other Community Foundation Trustees, working with UK Community Foundations (UKCF), attending UKCF meetings and events, participating in internal training and development sessions and attending appropriate external training. The Chair of the Foundation, Howard Platt, has attended several UKCF Chairs meetings.

The Trustees confirm that they have again complied with the duty in the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities of Cheshire Community Foundation Limited.

Cheshire Community Foundation Limited is a Quality Accredited member of UKCF having successfully demonstrated how it met the standard in 2022.

RESERVES POLICY

The Board continues to maintain a level of unrestricted reserves appropriate to its commitments over the coming years. Although the Charity Commission guidance is to ensure a minimum of six months’ running costs are held at any time, the Board’s objective is to hold one years’ running cost in unrestricted reserves. At £338,070, the unrestricted reserves as of 31st December 2023 represented not quite one year’s core costs, but nevertheless were regarded by the Board as a satisfactory position in a challenging year with increasing pressures on costs. The reserves policy will be kept under review.

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

RISK MANAGEMENT

The Board of Trustees recognises that it is responsible for risk management and for maintaining a sound system of internal control that supports the achievement of aims and objectives, whilst safeguarding the funds and assets for which it is responsible. The Board also accepts responsibility for ensuring that risks to which the Foundation is exposed are regularly reviewed and that appropriate steps are taken to mitigate any potential damage. A regular review of all risks takes place at Finance, Risk, Operations and Grants Committee meetings and a review of red-rated (high priority) risks takes place at quarterly Board Meetings.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees (who are also the directors of Cheshire Community Foundation Limited 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 state of affairs of the charitable company and of the incoming 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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

AUDITORS

The auditors, Murray Smith LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 23 May 2024 and signed on the board's behalf by:

........................................................................ Howard Platt (Chair)

........................................................................ Andrew Butters (Treasurer)

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

Opinion

We have audited the financial statements of Cheshire Community Foundation Limited (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit procedures designed to identify irregularities included:

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, intentional misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Benson (Senior Statutory Auditor) for and on behalf of Murray Smith LLP Chartered Accountants Statutory Auditors Darland House 44 Winnington Hill Northwich Cheshire CW8 1AU Date: .............................................

16

CHESHIRE COMMUNITY FOUNDATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3
122,025
20,830
Charitable activities
6
Charitable activities
1,385
1,540,032
Other trading activities
4
500
-
Investment income
5
46,230
5,382
Total
170,140
1,566,244
EXPENDITURE ON
Raising funds
7
98,608
-
Charitable activities
8
Charitable activities
274,259
1,731,073
Other
1,200
-
Total
374,067
1,731,073
Net gains/(losses) on
investments
-
116,580
NET INCOME/(EXPENDITURE)
(203,927)
(48,249)
Transfers between funds
19
221,963
(355,975)
Net movement in funds
18,036
(404,224)
RECONCILIATION OF FUNDS
Total funds brought forward
320,034
2,925,191
TOTAL FUNDS CARRIED
FORWARD
338,070
2,520,967
Endowment
funds
£
45,000
-
-
245,988
290,988
-
-
-
-
602,636
893,624
134,012
1,027,636
5,938,141
6,965,777		 2023

Total
funds
£
187,855
1,541,417
500
297,600
2,027,372
98,608
2,005,332
1,200
2,105,140
719,216
641,448
-
641,448
9,183,366
9,824,814		 2022
Total
funds
£
179,674
1,501,036
-
248,577
1,929,287
105,401
1,695,945
3,603
1,804,949
(1,010,501)
(886,163)
-
(886,163)
10,069,529
9,183,366

The notes form part of these financial statements

17

CHESHIRE COMMUNITY FOUNDATION LIMITED (REGISTERED NUMBER: 07731278)

BALANCE SHEET 31 DECEMBER 2023

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
15
2,196
-
Investments
16
-
1,303,513
2,196
1,303,513
CURRENT ASSETS
Debtors
17
12,464
-
Cash at bank
345,054
1,471,754
357,518
1,471,754
CREDITORS
Amounts falling due within one
year
18
(21,644)
(254,300)
NET CURRENT ASSETS
335,874
1,217,454
TOTAL ASSETS LESS CURRENT
LIABILITIES
338,070
2,520,967
NET ASSETS
338,070
2,520,967
FUNDS
19
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS
Endowment
funds
£
-
6,965,777
6,965,777
-
-
-
-
-
6,965,777
6,965,777		 2023

Total
funds
£
2,196
8,269,290
8,271,486
12,464
1,816,808
1,829,272
(275,944)
1,553,328
9,824,814
9,824,814
338,070
2,520,967
6,965,777
9,824,814		 2022
Total
funds
£
-
7,125,074
7,125,074
9,785
2,200,042
2,209,827
(151,535)
2,058,292
9,183,366
9,183,366
320,034
2,925,191
5,938,141
9,183,366

The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2024 and were signed on its behalf by:

............................................. Andrew Butters - Trustee

The notes form part of these financial statements

18

CHESHIRE COMMUNITY FOUNDATION LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
(253,537)
(253,537)
(2,297)
(425,000)
-
51,612
245,988
(129,697)
(383,234)
2,200,042
1,816,808		 2022
£
(80,703)
(80,703)
-
(28,103)
21,300
15,540
233,037
241,774
161,071
2,038,971
2,200,042

The notes form part of these financial statements

19

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Dividends received
(Increase)/decrease in debtors
Increase in creditors
Net cash used in operations		 2023
2022
£
£
641,448
(886,163)
101
-
(719,216)
1,010,501
(51,612)
(15,540)
(245,988)
(233,037)
(2,679)
639
124,409
42,897
(253,537)
(80,703)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 1.1.23
£
2,200,042
2,200,042
2,200,042		 Cash flow
£
(383,234)
(383,234)
(383,234)		 At 31.12.23
£
1,816,808
1,816,808
1,816,808

20

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. CHARITY STATUS

The charity is a company limited by guarantee incorporated in England and Wales. The members of the company are the Trustees named on Page 1. In the event of the charity being wound up, the liability, in respect of the guarantee is limited to £1 per member of the charity. The charity number is 1143711.

The address of its registered office is: C/o The Challenge Academy Trust at Bridgewater High School Broomfields Road Warrington Cheshire WA4 3AE

2. ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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 1 January 2019) - (Charities SORP (FRS 102)) and Companies Act 2006. Cheshire Community Foundation meets the definition of public entity under FRS 102.

Basis of preparation

The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern, nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income

All income is recognised in the Statement of Financial Activities once the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Save that Interest on bank deposits is accounted for when received.

Incoming resources are received in cash by way of grants and donations.

Grants receivable are accounted for in the period in which they are awarded and are allocated to the fund to which they relate.

Cash donations in support of the foundation's activities are included in full in the statement of financial activities on a receivable basis.

Investment returns are drawn in accordance with a total return policy and transferred to restricted funds for distribution, with an agreed proportion transferred to cover management and administration costs.

21

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.

Costs of raising funds includes the costs of brochures, advertising, fundraising and other promotional events designed to increase public awareness of the foundation, together with other costs directly attributable to fundraising activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognized as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Governance costs include those costs incurred in the governance of the Charity's assets and are associated with constitutional and statutory requirements.

Support costs include the central functions and have been allocated to activity cost categories on the basis of a direct charge wherever possible and in other cases, an estimate of time spent by category.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - 33% on cost Fixtures and fittings - 33% on cost Computer equipment - 50% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds is an agreed donation which is taken to the unrestricted funds through a transfer. All costs are charged against unrestricted funds.

The endowment fund is a restricted fund under the terms of the Trust deed and in the case of Community First endowments the funds must be held permanently. There are also expendable endowment funds, created by transfers from the endowment funds from excess gains over RPI. The endowment fund purpose is to ensure a suitable income stream to finance the ongoing activities of the charity. It is represented by a portfolio of investments, which is managed by investment managers who have been given discretionary powers to acquire and dispose of investments within the policy set by the Trustees.

Investment income, gains and losses are allocated to the appropriate fund.

22

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

Investments

All investments are carried at their fair value. Holdings in common investment funds are stated at their mid-market price. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year. Asset sales and purchases are recognised at the date of trade at cost. Investments are managed using the total investment return methodology.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account.

Financial instruments

The charity has financial assets of a kind that qualify as basic financial instrument. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

23

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3.
DONATIONS AND LEGACIES
Donations
4.
OTHER TRADING ACTIVITIES
Fees
5.
INVESTMENT INCOME
Other fixed asset investments
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Charitable activities
Charitable activities
7.
RAISING FUNDS
Raising donations and legacies
Staff costs
Postage and stationery
Consultancy
Travel and meeting expenses
Marketing and publicity
Website and database developed IT		 2023
£
187,855
2023
£
500
2023
£
245,988
51,612
297,600
2023
£
1,541,417
2023
£
66,832
56
20,475
1,960
4,025
5,260
98,608		 2022
£
179,674
2022
£
-
2022
£
233,037
15,540
248,577
2022
£
1,501,036
2022
£
71,654
83
26,075
690
5,723
1,176
105,401

24

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8. CHARITABLE ACTIVITIES COSTS

Direct
Costs
£
Charitable activities
263,750
Grants distributed
Awards to charities
Staff costs
Travel and meeting expenses
Subscriptions
Consultancy
Insurance
Office costs
Telephones
IT Maintenance
Website and database
Stationary and postage
Research
Other community foundations
Sundries
Audit and accountancy
Bank charges
Depreciation
Basis of
Allocation
Direct
Direct
Staff time
Staff time
Direct
Direct
Staff time
Direct
Staff time
Staff time
Direct
Usage
Direct
Direct
Direct
Direct
Direct
Direct
9.
GRANTS PAYABLE
Charitable activities
10.
SUPPORT COSTS
Charitable activities
11.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration - audit fee
Auditors' remuneration - accounts preparation
Depreciation - owned assets		 Grant
funding of
activities
(see note
9)
£
1,729,258
2023
£
1,729,258
1,850
162,623
1,202
5,164
31,354
1,293
13,638
1,821
721
29,809
111
5,600
8,400
63
9,000
3,324
101
2,005,332
Finance
£
3,324		 Support
costs (see
note 10)
£
12,324
2022
£
1,498,476
1,500
140,911
3,923
4,161
21,497
1,023
2,155
2,018
424
7,030
165
-
-
286
8,000
4,376
-
1,695,945
2023
£
1,729,258
Governance
costs
£
9,000
2023
£
6,900
2,100
101		 Support
costs (see
note 10)
£
12,324
2022
£
1,498,476
1,500
140,911
3,923
4,161
21,497
1,023
2,155
2,018
424
7,030
165
-
-
286
8,000
4,376
-
1,695,945
2023
£
1,729,258
Governance
costs
£
9,000
2023
£
6,900
2,100
101		 Totals
£
2,005,332
2022
£
1,498,476
Totals
£
12,324
2022
£
6,000
2,100
-

25

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

12. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

13.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2023
£
207,644
11,453
10,358
229,455		 2022
£
194,713
9,935
7,917
212,565

Wages and salaries include a holiday pay accrual of £nil (2022: £nil).

Key management personnel of the charity are the Chief Executive in post during the year, the total remuneration costs for 2023 amounted to £nil (2022: £nil). Since March 2016 the Chief Executive has worked on a pro bono basis.

The average monthly number of employees during the year was as follows:

Fundraising
Charitable and grant giving
Management		 2023
3
5
2
10		 2022
3
3
2
8

These figures necessarily incorporate rounding relating to part time staff members No employees received emoluments in excess of £60,000.

26

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
71,812
97,862
Charitable activities
Charitable activities
8,879
1,492,157
Investment income
13,577
1,963
Total
94,268
1,591,982
EXPENDITURE ON
Raising funds
105,401
-
Charitable activities
Charitable activities
195,969
1,499,976
Other
3,603
-
Total
304,973
1,499,976
Net gains/(losses) on investments
-
(167,376)
NET INCOME/(EXPENDITURE)
(210,705)
(75,370)
Transfers between funds
171,401
82,936
Net movement in funds
(39,304)
7,566
Total funds brought forward
359,338
2,917,625
TOTAL FUNDS CARRIED FORWARD
320,034
2,925,191
Endowment
funds
£
10,000
-
233,037
243,037
-
-
-
-
(843,125)
(600,088)
(254,337)
(854,425)
6,792,566
5,938,141
Total
funds
£
179,674
1,501,036
248,577
1,929,287
105,401
1,695,945
3,603
1,804,949
(1,010,501)
(886,163)
-
(886,163)
10,069,529
9,183,366

27

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15. TANGIBLE FIXED ASSETS

15. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£ £ £ £
COST
At 1 January 2023 2,116 3,066 3,338 8,520
Additions - 2,297 - 2,297
At 31 December 2023 2,116 5,363 3,338 10,817
DEPRECIATION
At 1 January 2023 2,116 3,066 3,338 8,520
Charge for year - 101 - 101
At 31 December 2023 2,116 3,167 3,338 8,621
NET BOOK VALUE
At 31 December 2023 - 2,196 - 2,196
At 31 December 2022 - - - -
16. FIXED ASSET INVESTMENTS
2023 2022
£ £
Other 8,269,290 7,125,074

There were no investment assets outside the UK.

The investments are held to provide an investment return to the charity. All investments are held in common investment funds and are valued at the mid-market price.

Total return is applied to all expendable endowment fund investments.

Investments (neither listed nor unlisted) were as follows:

At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023		 2023
£
7,125,074
425,000
-
719,216
8,269,290		 2022
£
8,128,772
28,103
(21,300)
(1,010,501)
7,125,074

28

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16. FIXED ASSET INVESTMENTS - continued

At 1 January 2023
Gift Component of Endowment
Assura CIF
Unapplied total return
Total
Movements in the reporting period:
Funds invested
Gift of expendable endowment
Dividends and Interest
Realised and Unrealised Gains
Total
Unapplied total return released to
income
Net movements in reporting period
At 31 December 2023
Gift Component of Endowment
Unapplied total return
Assura CIF
Total Funds		 Endowment
£
Unapplied
total return
Released to
income
£
Total
Endowment
£
Assura
CIF
£
Total
funds
£
4,420,848
-
4,420,848
-
4,420,848
-
-
-
1,186,933
1,186,933
-
1,517,293
1,517,293
-
1,517,293
4,420,848
1,517,293
5,938,141
1,186,933
7,125,074
-
-
-
-
-
425,000
-
425,000
-
425,000
-
245,988
245,988
37,287
283,275
-
602,636
602,636
116,580
719,216
425,000
848,624
1,273,624
153,867
1,427,491
-
(245,988)
(245,988)
(37,287)
(283,275)
425,000
602,636
1,027,636
116,580
1,144,216
4,845,848
-
4,845,848
-
4,845,848
-
2,119,929
2,119,929
-
2,119,929
-
-
-
1,303,513
1,303,513
4,845,848
2,119,929
6,965,777
1,303,513
8,269,290

29

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Grants payable
Accruals and deferred income		 2023
£
3,070
9,394
12,464
2023
£
5,204
2,064
254,300
14,376
275,944		 2022
£
5,416
4,369
9,785
2022
£
2,871
15,848
132,816
-
151,535

30

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Warrington Community fund
Warrington Young People
Anonymous funds
Assura
End Food Poverty
Other funds
Bentley
Cheshire Food Coordinator
Cost of Living Appeal
Warrington Fund
EMR Fund
Encirc Fund
MBNA
Endowment funds
Community First funds
Warrington Young People
Other funds
Warrington Community
Anonymous fund
TOTAL FUNDS		 At 1.1.23
£
320,034
180,096
29,855
88,800
1,495,460
(723)
821,909
147,685
90,386
71,723
-
-
-
-
2,925,191
4,429,658
363,315
333,414
282,948
528,806
5,938,141
9,183,366		 Net
movement
in funds
£
(203,927)
(80,900)
(25,734)
(157,065)
82,973
-
(23,824)
8,938
(30,000)
(54,586)
33,501
(14,000)
132,343
80,105
(48,249)
435,079
35,683
351,111
9,324
62,427
893,624
641,448		 Transfers
between
funds
£
221,963
28,793
7,229
285,230
(8,434)
723
(562,493)
(146,569)
-
1,947
(2,000)
24,000
(3,401)
19,000
(355,975)
-
-
126,033
18,467
(10,488)
134,012
-		 At
31.12.23
£
338,070
127,989
11,350
216,965
1,569,999
-
235,592
10,054
60,386
19,084
31,501
10,000
128,942
99,105
2,520,967
4,864,737
398,998
810,558
310,739
580,745
6,965,777
9,824,814

31

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Warrington Community fund
Warrington Young People
Anonymous funds
Assura
Other funds
Bentley
Cheshire Food Coordinator
Cost of Living Appeal
Warrington Fund
EMR Fund
Encirc Fund
MBNA
Endowment funds
Community First funds
Warrington Young People
Other funds
Warrington Community
Anonymous fund
TOTAL FUNDS		 Incoming
resources
£
170,140
-
184
-
320,047
556,223
190,000
-
7,447
60,000
200,000
132,343
100,000
1,566,244
145,980
11,973
61,284
9,324
62,427
290,988
2,027,372		 Resources
expended
£
(374,067)
(80,900)
(25,918)
(157,065)
(353,654)
(580,047)
(181,062)
(30,000)
(62,033)
(26,499)
(214,000)
-
(19,895)
(1,731,073)
-
-
-
-
-
-
(2,105,140)		 Gains and
losses
£
-
-
-
-
116,580
-
-
-
-
-
-
-
-
116,580
289,099
23,710
289,827
-
-
602,636
719,216		 Movement
in funds
£
(203,927)
(80,900)
(25,734)
(157,065)
82,973
(23,824)
8,938
(30,000)
(54,586)
33,501
(14,000)
132,343
80,105
(48,249)
435,079
35,683
351,111
9,324
62,427
893,624
641,448

32

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Warrington Community fund
Warrington Young People
Anonymous funds
Assura
Cheshire & Warrington Covid
End Food Poverty
Other funds
Bentley
Cheshire Food Coordinator
Cost of Living Appeal
Endowment funds
Community First funds
Warrington Young People
Other funds
Warrington Community
Anonymous fund
TOTAL FUNDS		 At 1.1.22
£
359,338
222,797
48,550
75,013
1,597,747
69,861
20,387
806,079
77,191
-
-
2,917,625
5,166,124
414,853
368,893
265,070
577,626
6,792,566
10,069,529		 Net
movement

in funds
£
(210,705)
(42,701)
(18,695)
13,787
(102,287)
(69,861)
(21,110)
15,830
70,494
90,386
(11,213)
(75,370)
(696,323)
11,902
58,948
8,432
16,953
(600,088)
(886,163)		 Transfers

between
funds
£
171,401
-
-
-
-
-
-
-
-
-
82,936
82,936
(40,143)
(63,440)
(94,427)
9,446
(65,773)
(254,337)
-
At
31.12.22
£
320,034
180,096
29,855
88,800
1,495,460
-
(723)
821,909
147,685
90,386
71,723
2,925,191
4,429,658
363,315
333,414
282,948
528,806
5,938,141
9,183,366

33

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Warrington Community fund
Warrington Young People
Anonymous funds
Assura
Cheshire & Warrington Covid
End Food Poverty
Other funds
Bentley
Cheshire Food Coordinator
Cost of Living Appeal
Endowment funds
Community First funds
Warrington Young People
Other funds
Warrington Community
Anonymous fund
TOTAL FUNDS		 Incoming
resources
£
94,268
240
-
-
282,668
775
416
908,279
281,000
80,000
38,604
1,591,982
146,802
11,902
58,948
8,432
16,953
243,037
1,929,287		 Resources
expended
£
(304,973)
(72,877)
(25,918)
(28,918)
(227,987)
(62,465)
(7,500)
(885,805)
(186,006)
-
(2,500)
(1,499,976)
-
-
-
-
-
-
(1,804,949)		 Gains and
losses
£
-
29,936
7,223
42,705
(156,968)
(8,171)
(14,026)
(6,644)
(24,500)
10,386
(47,317)
(167,376)
(843,125)
-
-
-
-
(843,125)
(1,010,501)		 Movement
in funds
£
(210,705)
(42,701)
(18,695)
13,787
(102,287)
(69,861)
(21,110)
15,830
70,494
90,386
(11,213)
(75,370)
(696,323)
11,902
58,948
8,432
16,953
(600,088)
(886,163)

34

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Warrington Community fund
Warrington Young People
Anonymous funds
Assura
Cheshire & Warrington Covid
End Food Poverty
Other funds
Bentley
Cheshire Food Coordinator
Cost of Living Appeal
Warrington Fund
EMR Fund
Encirc Fund
MBNA
Endowment funds
Community First funds
Warrington Young People
Other funds
Warrington Community
Anonymous fund
TOTAL FUNDS		 At 1.1.22
£
359,338
222,797
48,550
75,013
1,597,747
69,861
20,387
806,079
77,191
-
-
-
-
-
-
2,917,625
5,166,124
414,853
368,893
265,070
577,626
6,792,566
10,069,529		 Net
movement
in funds
£
(414,632)
(123,601)
(44,429)
(143,278)
(19,314)
(69,861)
(21,110)
(7,994)
79,432
60,386
(65,799)
33,501
(14,000)
132,343
80,105
(123,619)
(261,244)
47,585
410,059
17,756
79,380
293,536
(244,715)		 Transfers
between
funds
£
393,364
28,793
7,229
285,230
(8,434)
-
723
(562,493)
(146,569)
-
84,883
(2,000)
24,000
(3,401)
19,000
(273,039)
(40,143)
(63,440)
31,606
27,913
(76,261)
(120,325)
-		 At
31.12.23
£
338,070
127,989
11,350
216,965
1,569,999
-
-
235,592
10,054
60,386
19,084
31,501
10,000
128,942
99,105
2,520,967
4,864,737
398,998
810,558
310,739
580,745
6,965,777
9,824,814

35

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Warrington Community fund
Warrington Young People
Anonymous funds
Assura
Cheshire & Warrington Covid
End Food Poverty
Other funds
Bentley
Cheshire Food Coordinator
Cost of Living Appeal
Warrington Fund
EMR Fund
Encirc Fund
MBNA
Endowment funds
Community First funds
Warrington Young People
Other funds
Warrington Community
Anonymous fund
TOTAL FUNDS		 Incoming
resources
£
264,408
240
184
-
602,715
775
416
1,464,502
471,000
80,000
46,051
60,000
200,000
132,343
100,000
3,158,226
292,782
23,875
120,232
17,756
79,380
534,025
3,956,659		 Resources
expended
£
(679,040)
(153,777)
(51,836)
(185,983)
(581,641)
(62,465)
(7,500)
(1,465,852)
(367,068)
(30,000)
(64,533)
(26,499)
(214,000)
-
(19,895)
(3,231,049)
-
-
-
-
-
-
(3,910,089)		 Gains and
losses
£
-
29,936
7,223
42,705
(40,388)
(8,171)
(14,026)
(6,644)
(24,500)
10,386
(47,317)
-
-
-
-
(50,796)
(554,026)
23,710
289,827
-
-
(240,489)
(291,285)		 Movement
in funds
£
(414,632)
(123,601)
(44,429)
(143,278)
(19,314)
(69,861)
(21,110)
(7,994)
79,432
60,386
(65,799)
33,501
(14,000)
132,343
80,105
(123,619)
(261,244)
47,585
410,059
17,756
79,380
293,536
(244,715)

This page does not form part of the statutory financial statements

36

This page does not form part of the statutory financial statements

37

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Restricted Fund Purpose
Warrington Community Supporting projects which meet the needs of older people in
Warrington
Warrington Young People For under 25 years old young people in Warrington
experiencingdifficulties
Anonymous fund Comprises 3 donor directed funds
Assura Supporting health-improving work by charities and local
groups in the communities
Cheshire & Warrington Covid Relieving hardship to charities and communities in Cheshire
and End Food Poverty & Warrington arisingfrom the Covid emergency
Bentley Addressing disadvantage in Crewe under its Advancing Life
Chances initiative
Cheshire Food Coordinator Support for disadvantaged families experiencing poverty in
Cheshire west
Cost of Living Appeal Appeal to support people in Cheshire & Warrington facing
crisis and hardshipdue to the Cost of LivingCrisis
Warrington Unspecified causes in the borough
EMR For improvement in lives of young people and families in
Cheshire and Warrington and UK wide
Encirc For environmentallythemedprojects in Cheshire
MBNA Support for disadvantaged families experiencing poverty in
Cheshire west
Endowment Fund Purpose
Community First Funds Various donor funds under 50% government match scheme
promoted by UK Community Foundations to support
charitable and community causes generally in Cheshire &
Warrington
Warrington Young Peoples For under 25 years old young people in Warrington
experiencingdifficulties
Warrington Community Supporting projects which meet the needs of older people in
Warrington
Anonymous Donor directed fund

Transfers between funds

During the financial year, there were transfers to Endowment funds from Restricted funds of £134,012 net. (2022: transfers from Endowment funds to Restricted funds of £254,337 net).Of this:

Transfers from Restricted funds to Unrestricted funds totalling £221,963 (2022: £171,401) were made in respect of management fees agreed with donors.

This page does not form part of the statutory financial statements

38

CHESHIRE COMMUNITY FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

20. CONTINGENT LIABILITIES

At the 31 December there were grants awarded of £nil (2022: £nil), where the conditions had not yet been met.

21. RELATED PARTY DISCLOSURES

Aggregated trustee donations to the foundation during the year totalled £17,500 (2022: £18,572).

Zoe Sheppard, Chief Executive, sacrificed salary for the financial year (2022: sacrificed salary for the financial year).

No trustee expenses were claimed in the period (2022: £nil).

This page does not form part of the statutory financial statements

39