COMPANY REGISTRATION NUMBER: 08223187 CHARITY REGISTRATION NUMBER: 1149800 COMPANY REGISTERED NUMBER: SCOTLAND: SC045106 The National Funding Scheme Company Limited by Guarantee Unaudited Financial Statements 30 September 2024 FROST & COMPANY Chartered accountants Unit C, Regent House 9 Crown Square Poundbury Dorset DT13DY The National Funding Scheme Company Limited by Guarantee Financial Statements Year ended 30 September 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements 10 The following pages do not fonn part of the financial statements Detailed statement of financial activities 20 Notes to the detailed statement of financial activities 21 The National Funding Scheme Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 30 September 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements ofthe charity for the year ended 30 September 2024. Reference and administrative details Registered charity name The National Funding Scheme Charity registration number 1149800 Company registration number 08223187 Principal office and registered 1 Golden Court office Richmond Surrey TW9 1EU The trustees G Bagshawe S Cooper J Galloway W Makower J Park Independent examiner Mr Stephen J Frost ACA Unit C, Regent House 9 Crown Square Poundbury Dorset DT1 3DY The National Funding Scheme Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contiftued) Year ended 30 September 2024 Structure. governance and management Governance The National Funding Scheme is a charitable company, limited by guarantee, incorporated on 20 September 2012 and registered as a charity on 16 November 2012. The charity was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association. The govemance and strategy of the charity is overseen by the Board of Trustees (named in the table below). Trustees are appointed as outlined in the Memorandum and Articles of Association and they bring specific skills to complement and support the Management Team. The following Trustees were in office at 30 September 2024, and served throughout the period except where shown. Trustees Sam Cooper Jamie Galloway Georgina Bagshawe William Makower Jun Park Ke mana ement ersonnel The Trustees consider that they comprise the key management ofthe charity in charge of directing and controlling, running and operating the charity on a day to day basis. None of the Trustees received any remunerats'on for their seNices as Trustees (2023 - none). Statement of Trustees res onsibilities The Trustees (who are also directors of The National Funding Scheme for the purposes of company law) are responsible for prepanng the Trusteesji report and financial statements in accordance with applicable law and United Kingdom Accounting Stsndards {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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to= select suitable accounting policies and then apply them consistently., observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102)., - make judgements and estimates that are reasonable and prudent., state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The National Funding Scheme Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contiftued) Year ended 30 September 2024 The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the chanty and enable them to ensure that the financial ststements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scouand) Regulation 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Ob-ectives and activities Princi al Aims Ob-ectives and Activities The object of the National Funding Scheme (NFS) is 'the promotion of the efficiency and effectiveness of charities for the public benefit by promoting charitable giving, fundraising and donations to charities, particulady (but not exclusively) through supporting new ways of giving to charities and through digital means". As Trustees, we confirm that we have referred to the guidance contained in the Charity Commission's general advice on public benefit when reviewing the charity's aims and objectives and in planning future activities for the year. Achievements and erforniance Charities Aid Foundation's (CAF) UK Giving 2025 Report tells the story of giving in 2024.. Charities are now relying on donations from only 500A of people. down from 58% in 2019 equivalent to approximately four million fewer donors. The report goes on to say that"Sponsorship levels, already on a downward trajectory. appear to have been permanently lowered by the pandemic, following the temporary restrictions on public events. When combining both metrics, 55% of people in the UK gave to charity through donation or sponsorship in the last 12 months.. The National Funding Scheme Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contiftued) Year ended 30 September 2024 61% 60% 57% 58% 57% 54% 53% 50% 37% 3S% 32% 32% 28% 22% 23% 23% 21% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Donated to charity Sponsofed someone for charity Base". ArtrpsF￿[￿￿ 2016 ￿￿111.. 2017. Pb12.21L ￿18. NzlltTI.. 2019 N-11499,. 2020. PL13.406." a)2L Pls115Tr. 20L. N-11140." 20>. N- 11264". 2024.N-11459. Source: CAF: UK GIVING REPORT 2025 {httPS://www.cafonline.orgidocsldefault-source/uk-giving- Against this backdrop National Funding Scheme plays its part in both helping organisation transform to offer digital giving whilst increasing the number and diversity of donors across all geographies and sections of society. We see this work as supporting the benefits of both giving and receiving. We continue to support charities in their adoption of digital fvndraising by educating and explaining the importance of Gift Aid and the significant benefits of encouraging regular donations. We support these areas of education by simplifying how donors can add Gift Aid to both text and web donations as well as offering secure and easy routes to regular donations. We encourage charities to be effective in telling stories about their work and how individual donations support both restricted and non-restncted areas of expenditure. We provide advice, templates, case studies and links to third paty services eg Canva, Relevant Nowand other online and free services that will support charities in promoting their impact and work. We continue to invest in the development of the platform provided under licence by Digital Information and Giving {DIG) Ltd. Together with DIG we continue to improve not only the resilience and security of the DONATE platform but also improve the overall user experience for both organisations and donors. Whilst many of the improvements are visible, some have been in the back-end to increase security, reduce server loads and improve overall productivity. Specific improvements visible include.. Additional logging in security using one time passcodes, new security arrangements when changing bank details, leasing of donation codes to improve re-use, general improvements to administration portal Scoping and major re-design of registration and web donation interface including mapping and visual proof of recent donations across text, web and contactless touch points. The National Funding Scheme Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contiftued) Year ended 30 September 2024 Providing advice and guidance Along with providing a range of guidance materials including in-depth case studies for ne￿Y joined charitable organisations National Funding Scheme also speaks at community events promoting digital giving, advising on best-practice, giving hints and tips to fundraisers. Audiences range from those looking to start using digital channels to fundraise to those more experienced and wanting to extend into text raffles and online auctions. In November we spoke on the main plaffomi at the community fundraising 'Getting Digital for Fundraising, conference in the Lewisham (London) area. Funded by Lewsham Local, Lewisham Education Arts Ne￿Ork {LEAN) and Catbytes CIC) aboLrt 30 organisations attended. With hugely positive feedback we were then asked to speak at a follow-up online event with over 100 attendees. Our founder's keynote discussed the psychology of giving and a review of the current rd fundraising landscape. Key delegate takeaways were a review of the types of 3 party providers, a handy chart comparing the variety of channels available and an open door to providing individual advice if required. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. 24 Jun 2025 The trustees, annual report was approved on trustees by.. and signed on behalf of the board of Jatnie Gall(May (Jun 24. 2025. 8."42aml J Galloway Trustee ## The National Funding Scheme Company Limited by Guarantee Independent Examiner's Report to the Trustees of The National Funding Scheme (continue) Year ended 30 September 2024 teteraete | report to the trustees on my examination of the financial statements of The National Funding Scheme (‘the charity’) for the year ended 30 September 2024. ## Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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, | report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or 3. _ the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **----- Start of picture text -----**
Mr Stephen J Frost ACA 4
Independent Examiner .
Unit C, Regent House
Poundbury9 Crown Square 4hUf.(4o e a‘¢
Dorset
DT1 3DY
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7 |============================
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509,052|================================
574,402|================================
601,707| |---|---|---|---| |----------------------------
-
15,663|--------------------------------
-
547,410|--------------------------------
-
563,073|--------------------------------
100
579,243| |---|---|---|---| |15,663|547,410|563,073|579,343| |============================|================================|================================|================================| |----------------------------|--------------------------------|--------------------------------|--------------------------------| |49,687|(38,358)|11,329|22,364| |============================|================================|================================|================================| |(38,358)|38,358|-|-| |----------------------------|--------------------------------|--------------------------------|--------------------------------| |11,329|~~-~~|11,329|22,364| |(21,610)|~~-~~|(21,610)|(43,974)| |----------------------------|--------------------------------|--------------------------------|--------------------------------| |============================
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The National Funding Scheme Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2024 General infomiation The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 1 Golden Court, Richmond, Surrey, TW9 1EU. statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)} and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterfing. which is the functional currency of the entity. Going concern The Trustees have assessed whether the use of the going concem assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect of a period of one year from the date of approval ofthese accounts and have considered the impact of all foreseeable factors that might impact on the charity's operation. The Trustees have considered the financial position of the charity at the date of approval of these financial statements, and also its ongoing income and expenditure. Given the level of expenditure ofthe charity, a reduction in overheads and their best estimates for projected income, The Trustees have concluded that the charity wll be able to meet its financial obligations. Although it is anticipated that no support will be required The Trustees have confirmed that they will provide funds to support the charity's cashflow requirements for a period of at least one year from the date of approval of the financial statements. The Trustees are confident that the charity y￿11 be able to meet its liabiltties as they fall due for the foreseeable future and for this reason the financial statements have been prepared in a going concem basis. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sulFclasses'. restricted income funds or endowment funds. 10 The National Funding Scheme Company Limited by Guarantee Notes to the Financial Statements (contNnuedJ Year ended 30 September 2024 Accounting policies (continued) Incoming resources l incoming resources are induded in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated wtth the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incu￿ed. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. 11 The National Funding Scheme Company Limited by Guarantee Notes to the Financial Statements (contNnuedJ Year ended 30 September 2024 Accounting policies (continued) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights. are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. Amortisation Amortisation is calculated so as to vKite off the cost of an asset. less its estimated residual value, over the useful life of that asset as follows.. Software Licence 33% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intsngible asset. the amortisats'on is revised prospectively to reflect the new estimates. Research and development Research expenditure is vKitten off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met- It is technically feasible to complete the intangible asset so that it will be available for use or sale., There is the intention to complete the intangible asset and use or sell it- There is the ability to use or sell the intangible asset.. The use or sale of the intangible asset will generate probable future economic benefits., There are adequate technical. financial and other resources available to complete the development and to use or sell the intangible asset- and The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the aljove criteria is expensed as incurred. Impaimient of fixed assets A review for indicators of impaimient is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaim)ents are also reviewed for possible reversal at each reporting date. 12 The National Funding Scheme Company Limited by Guarantee Notes to the Financial Statements (contNnuedJ Year ended 30 September 2024 Accounting policies (continued) Impairment of fixed assets (wntinued) For the purposes of impaimient testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaimient testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of vthether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only vthen the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaimient. Other financial instruments. including derivatives. are initially recognised at fair value. unless payment for an asset is deferred beyond nomial business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequendy measured at fair value, with any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 13 **----- Start of picture text -----**
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|||| |---|---|---| |----------------------------|--------------------------------|--------------------------------| |21,501|540,729|562,229| |============================|================================|================================| **----- End of picture text -----**
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||||| |---|---|---|---| |==============|==============|==============|==============| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2024| |£|£|£| |1,100|547,410|548,510| |14,564|-|14,564| |----------------------------|--------------------------------|--------------------------------| |15,664|547,410|563,074| |============================|================================|================================| **----- End of picture text -----**
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|||| |---|---|---| |----------------------------|--------------------------------|--------------------------------| |12,041|567,203|579,243| |============================|================================|================================| **----- End of picture text -----**
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||||| |---|---|---|---| |--------------------------------|----------------------------|--------------------------------|--------------------------------| |548,510|14,564|563,074|579,243| |================================|============================|================================|================================| |2024|2023| |£|£| |1,800|1,800| |=======================|=======================| **----- End of picture text -----**
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||| |---|---| |----------------------------|----------------------------| |17,715|13,882| |============================|============================| |2024|2023| |£|£| |10,160|39,699| |3,443|3,387| |108,282|123,317| |3,144|13,944| |--------------------------------|--------------------------------| |125,029|180,347| |================================|================================| **----- End of picture text -----**
|£
(21,610)||£
£
£
£
65,350
(15,664)
(38,358)
(10,281)| |---|---|---| |============================
At||============================
============================
============================
============================
At| |October2022|Income
Expenditure
Transfers 30 Sept 2023|| |============================
£
(43,974)
At||============================
============================
============================
============================
£
£
£
£
60,979
(12,141)
(26,474)
(21,610)
At 30 Sept| |October2023|Income
Expenditure
Transfers
2024|| |==============
£
~~-~~
At|================================
================================
============================
==============
£
£
£
£
509,052
(547,410)
38,358
~~-~~
At|| |October2022|Income
Expenditure
Transfers 30 Sept 2023|| |==============
£
~~-~~|================================
================================
============================
==============
£
£
£
£
540,729
(567,203)
26,474
~~-~~|| |--------------------------------
--------------------------------
================================
================================
(10,282)
(10,282)|--------------------------------
--------------------------------
================================
================================
(10,282)
(10,282)| |---|---| |Unrestricted|Unrestricted
Total Funds| |--------------------------------
--------------------------------
================================
================================
Funds
2023
£
£
158,737
158,737
(180,347)
(180,347)
(21,610)
(21,610)|| The Trustees acknowledge the considerable support given by many individuals and organisations. William Makower is a shareholder director of Digital Innovation and Growth (DIG) Ltd and a serving Trustee of The National Funding Scheme.