REGISTERED COMPANY NUMBER: 08608656 (England and Wales) REGISTERED CHARITY NUMBER: 1154245 Report of the Trustees and Consolidated Unaudited Financial Statements for the Year Ended 31 July 2025 for Future-Fit Foundation (Limited by Guarantee) Thickbroom Coventry Limited Chartered Accountants 147a High Street Waltham Cross EN8 7AP
Future-Fit Foundation Contents of the Financial Statements for the Year Ended 31 July 2025 Page Report of the Trustees Independent Examiner's Report Consolidated Statement of Financial Activities Consolidated Balance Sheat Consolidated Cash Flow Statement 10 Notes to the Consolidated Cash Flow Statement Notes to the Consolidated Financlal Statements 12 to 17
Future-Fit Foundation Report of the Trustees for the Year Ended 31 July 2025 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 July 2025. 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). OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity as set out in its governing instrument are: 1. To promote ethical investment for the public benefit so as to advance.. a. The relief of poverty. b. The protection of the environment., Compliance with the law and ethical standards of conduct; and d. Such other purposes as may be effectively advanced by such promotion which are charitable in law. 2. To promote sustainable development for the benefit of the public by the promotion of sustainable means of achieving economic growth and regeneration. 3. To advance the education of the public in the principles and effects of ethical investment and subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large. Sustainable developrnent means "development which meets the needs of the present without compromising the ability of future generations to meet their own needs." The principal aim of the charity is to develop, steward and promote global, open-source, scientifically rigorous, future-focused frameworks which identify the extra-financial break-even point of any organisation. The current framework being developed is known as the Future-Fit Business Benchmark (the "Benchmark") 2nd will be used to help businesses, investors and the general public try to improve their impact on the world by encouraging sustainable development and promoting ethical investment. In time, it is hoped that resources will be available lo enable framework development to be extended to measure the future-fitness of households, cities and countries. The main objectives of the charity during the year covered by the annual report wer8: a) To develop a long-term funding model to enable the charity to carry out its aims and work. b) To continue the development of the Future-Fit Business Benchmark., and c) To continue the development of the global Future-Fit community. Significant activities The strategy for achieving the objectives and the principal activities undertaken during the year.. This was the second full year of operations since relaunching the organisation post-pandemic in Q4 2022 and represented a year of steady progress as the organisation sought to establish a solid platform on which to build going forward. The primary activity was updating and growing the community programs (Changemakers, Accredited Advisors and System Changers) to act as a source of revenue and create ongoing momentum around the Future-Fit methodology, thereby enabling the pursuit of the other objectives. This approach has worked well and the organisation ended this financial period with a strong pipeline of opportunities for the year ahead, despite ever increasing global economic and political headwinds. Page 1
Future-Fit Foundation Report of the Trustees for the Year Ended 31 July 2025 Public benefit The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. OBJECTIVES AND ACTIVITIES - continued Work of individuals working in and with the charity The charity is led on a day-to-day basis by Martin Rich (Chief Executive Officer) reporting to the board. The charity employs one other full-time member, Alisa Smirnova, as Community Programmes Lead. Alisa took maternity leave from October 2024 until the end of this financial period, and her role was covered on a part-time basis by Katherine Webb. Financial and reporting matters are outsourced to Thickbroom Chartered Accountants at favourable rates. ACHIEVEMENT AND PERFORMANCE Charitable activities A review of the achievements during the year against each of the objectives set out in the previous section a) To develop a long-term funding model to enable the charity to carry out its aim and work. The charity was pleased to secure a grant of £50k from a UK-based corporate member of the '1 % for the Planet, initiative in September 2024. Unfortunately, a further £200k grant from this company's Us-based entity promised for early 2025 was ultimately not forthcoming following changes in th8 US political environment. This was most unfortunate and meant that plans for growth that had been developed were once again put on hold. The team nonetheless continued to search for grant funding from a wide range of philanthropic sources but were unsuccessful in an extremely difficult market. Recognising the difFiculty and inconsistency of grants, the charity also focused on developing a range of diverse, consistent income streams. Primarily, this meant continuing to build the revenue from the Accredited Advisor and System Changer membership programs. In addition, the first four Future-Fit 'Local Chapters, self-funding, semi- autonomous country-based communities of Future-Fit users - were launched in Australia, Japan, New Zealand and Singapore. It is anticipated that these will be able to start contributing financially to Future-Fit Foundation as they establish their own funding models and revenu6 Streams. Finally, discussions regarding the development of a Software-as-a-service offering to sell the businesses adopting the Future-Fit methodology resulted in a partnership with an Accredited Advisor and a software developer based in Jersey. The developer has agreed to build the software with only a very small financial contribution from the charity in the hope that it will recoup its expenditure through future sales. It is anticipated that the first elements of th8 plafform will be available for market testing in early 2026. b) To continue the development of the Future-Fit Business Benchmark The Future-Fit Business Benchmark has been developed from a set of systems science principles that must be met in order to maintain a sustainable planet on which humanity and other life can flourish on Earth forever. The benchmark consists of a set of 23 Break-Even Goals, each with a corresponding progress indicator, that businesses must achieve to reach social and environmental break-even - that is, become fully "Future-Fit" It also incorporates a set of 24 Positive Pursuits categories of actions that businesses can take to restore past damage to the system conditions and help others make progress toward future-fitness. Further development of the Benchmark during this period was not possible due to lack of resources. However. the methodology can be found online via the charity's fully integrated learning hub whereby all the guidance is available as one easily accessible resource (https=Ilbenchmark.futurefitbusiness.org)- All other tools and reSoUrS can be accessed for free through the charity's Changemaker Community (htt s-.Ilwww.fulurefit.¢ommunil Is aces193149081feed). Page 2
Future-Fit Foundation Report of the Trustees for the Year Ended 31 July 2025 ACHIEVEMENT AND PERFORMANCE- continued Despite the resource constraints, developments in Al and LLM models have opened the possibility of relatively quickly and easily producing translated versions of the Benchmark methodology which has previously only been available in English. A member of our global community has produced raw versions of the methodology in numerous languages, and we are seeking native speakers to check and correct these versions before they can be uploaded to the learning hub. A Spanish version has already been published, and this will be followed in the coming months by Chinese, French and Portuguese. c) To continue the development of the global Future-Fit community The charity's three programs grew during the period, with the online Changemaker community nearly doubling from c.800 members to over 1,500 by the end of July 2025. The Accredited Advisor and System Changer programs also continued to grow, and the full list of members can be found respectively at https:Ilfuturefitbusiness.orlpartnersl and https'.Ilfuturefitbusiness.orglsystem-changer-directoryl. The Future-Fit Asia-Pacific Alliance launched the first four Future-Fit Local Chapters in Australia, Japan, New Zealand and Singapore. which are gaining traction locally. In addition, conversations are developing lo launch the first Local Chapters in Europe (including Denmark, Portugal. Spain and Sweden) as well as in Brazil, China and India. Investment performance One grant of £50k was received in the year from a corporate member of the '10/0 for the Planet, initiative. The charity earned c.£57k of income from a range of sources, primarily from membership programme fees and corporate engagements. The charity is grateful to receive significant in-kind support from Baker & McKenzie. Other information relevant to the understanding of th6 charity's activities and achievements. Readers are advised lo visit www.futurefitbusiness.or and achievements. for a full understanding of Ihe charity's activities, objectives FINANCIAL REVIEW Financial position Grant income of £50k secured at the start of the financial year provided sufficient resources to keep the charity focused on building a regular flow of membership income and developing our strategy for growth. Earned income of c.£57k was level with the previous financial year and represents a solid base on which to keep building. The charity therefore finished the year in a positive financial position, with a steady pipeline of opportunities for the next twelve months. Principal funding sources The c.£57k of earned income came primarily from developing a training program for Virgin Money's relationship managers, and membership fees for the Accredited Advisor and System Changer programs. The charity's principal expenditure during this period was on salaries, tax and National Insurance for the team delivering the above work. The other main items of expenditure relate to travel, IT and websile costs. The team continued with a combination of working from home and in office space kindly provided for free by a variety of organisations. Page 3
Future-Fit Foundation Report of the Trustees Investment pollcy and objectives for the Year Ended 31 July 2025 The charity currently maintains a modest balance of funds, all of which are held with CAF bank. As all the capital is currently allocated to salary and expenses in the short-term. none is available for investment. However, the trustees will review how funds are invested when larger sums are in hand. The trustees seek to invest ethically. sustainably and in line with the objects of the charity, considering social and environmental impact. The trustees will try to balance financial retum and social return and will actively consider investments with a potentially lower financial return in order to have assurance that the investments have a positive impact on society and the environment and are in line with the charity's objects. FINANCIAL REVIEW Reserves policy The trustees have agreed to try and holdlhave available a minimum of three months reserves. As of the end of the reporting period, the charity had modest ongoing expenditure and hence is in alignment with this policy. The total unrestricted reserves at the year-end amounted to £9,529. Funds in deficit The charity had no deficit at the end of th8 year and does not anticipate future deficits. Post-reporting period update The sustainability agenda has conlinued to face severe global 8conomic and political headwinds throughout the second half of 2025, requiring the charity to focus on maintaining current activities rather than growth. Expenditure conlinues to be low and a grant of £10k was received at the end of 2025 to help smooth cash flows, with more available if needed. There are signs that the market will improve in 2026 and the charity continues to explore all options to boost its work over the next Twelve months and further develop the organisation's plans for long-term sustainability. FUTURE PLANS The charity has two primary objectives for the year 2025126. Firstly, it will continue to grow the global community of Future-Fit users. This will increase the organisation's impact, as well as secure greater income through membership fees and opportunities to work with partner organisations. The focus on Local Chapters to grow place- based communities will continue as part of this. Secondly, the charity will seek to secure sufficient funding to restart development of the Future-Fil Benchmark methodology, ensuring it remains fully up to date and as accessible and usable as possible. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Future-Fit Foundation is governed by Memorandum and Articles dated 15th July 2013 and was granted charitable status on 17th October 2013. Recruitment and appointment of new trustees New trustees are appoinled by resolution of the existing trustees. When considering the recruitment of new trustees, the trustees take into account the skills and experiences required by the charity and seek to ensure that the trustee body as whole contains sustainable development, business, investment and charitable expertise. Organisational structure Future-Fil Foundation is a registered company and registered charity. The trustees of the charity are also the members and directors of the company. Page 4
Future-Fit Foundation Report of the Trustees for the Year Ended 31 July 2025 Induction and training of new trustees New trustees are given copies of the Memorandum and Articles, the latest Annual Report and Financial Statements, minutes of the 3 previous trustee meetings, copies of any useful strategy documents, the Charity Commission's Essential Trustee. and copies of the charity's Conflict of Interest policy, Trustee Expenses Policy, Anti-Bribery Policy, Reserves Policy and Financial Controls Policy. They must also complete a Fit and Proper Persons Declaration, a Declaration of Interests and sign a Code of Conduct. Related parties Future-Fit Foundation does not have any relationships with related parties. Risk management The trustees have identified the major risks to Future-Fit Foundation and systems and controls are in place to manage those risks. STRUCTURE, GOVERNANCE AND MANAGEMENT As of 22nd July 2015, the Charity Commission granted 3D Investment Foundation permission to use the name Future-Fit Foundation. As of 5th December 2017, the charity changed its legal name to Future-Fit Foundation, REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08608656 (England and Wales) Registered Charity number 1154245 Registered office 147a High Street Clo Thickbroom Coventry Ltd Waltham Cross EN8 7AP Trustees Ms L Attenborough Company Director Mr P Clements-Hunt (Chair) Company Director Mr C Fergusson Hr Director Ms C Harris Recruitment Consultant (resigned 31 March 2025) Mr R R Threlfall Management Consultant Independent Examiner Thickbroom Coventry Limited Chartered Accountants 147a High Street Waltham Cross EN8 7AP Approved by order of the board of trustees on 13 April 2026 and signed on its behalf by- Mr P Clements-Hunt - Trustee Page 5
Independent Examiner's Report to the Trustees of Future-Fit Foundation Independent examiner's report to the trustees of Future-Fit Foundation ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 Act'}. Having satisfied myself that the accounts of the Company are nol required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charily's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act')- In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(51 (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe- accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord wilh those records., or the accounts 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 the accounts 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>1. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Robert Boulton FCA Thickbroom Coventry Limited Chartered Accountants 147a High Street Waltham Cross EN8 7AP Date: /J Page 6
Future-Fit Foundation Consolidated Statement of Financial Activities for the Year Ended 31 July 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Investment income Other income 50,588 56,708 57 50,588 56,708 57 45,306 56 179 Total 107,353 107,353 45,541 EXPENDITURE ON Charitable activities Charitable expenditure 97,811 2,038 99,849 78,169 NET INCOMEI(EXPENDITURE) 9,542 (2,038) 7,504 (32,628) RECONCILIATION OF FUNDS Total funds brought forward <13) 6,114 6,101 38,729 TOTAL FUNDS CARRIED FORWARD 9,529 4,076 13,605 6,101 The notes form part of these financial statements Page 7
Future-Fit Foundation Consolidated Balance Sheet 31 July 2025 2025 2024 Charity Charity Group Notes Group FIXED ASSETS Intangible assets Tangible assets Investments 6,443 1,062 6,443 1.062 7.506 7,505 CURRENT ASSETS Debtors Cash at bank 39,592 5,387 2,252 11,539 8,866 6,589 2,002 15,742 44,979 13,791 15,455 17,744 CREDITORS Amounts falling due within one year (2,165) (7,691) (4,079) (11,643) NET CURRENT ASSETS 42,814 6,100 11,376 6,101 NET ASSETS 50,320 13,605 11,377 6,101 FUNDS Restricted funds Unrestricted funds 10 4,076 46,244 4,076 9,529 6,114 5,263 6,114 13) NET ASSETS 50,320 13,605 11,377 6,101 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page 8
Future-Fit Foundation Consolidated Balance Sheet - continued 31 July 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ..13.8p[.il.2Q2fi..... and were signed on its behalf by: Mr P Clements-Hunt - Trustee The notes form part of these financial statemenls Page 9
Future-Fit Foundation Consolidated Cash Flow Statement for the Year Ended 31 July 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 40,523) Net cash (used in)Iprovided by operating activities 40,523) Cash flows from investing activities Sale of tangible fixed assets Interest received 291 56 57 Net cash provided by investing activities 57 347 Change in cash and cash equivalents in the reporting period Cash and cash equlvalents at the beginning of the reportlng period {4,203) (40,176) 15,742 55,918 Cash and cash equivalents at the end of the reporting period 11,539 15,742 The notes form part of these financial statements Page 10
Future-Fit Foundation Notes to the Consolidated Cash Flow Statement for the Year Ended 31 July 2025 RECONCILIATION OF NET {EXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net {expenditure)lincome for the reporting period (as per the statement of Financial Activities) Adjustments for: Depreciation charges Amortisation charges Purchase of tangible fixed assets Purchase of intangible fixed assets Profit on disposal of fixed assets Interest received Decrease/(increase) in debtors (Decrease)lincrease in creditors 7,502 {32,628) 354 117 (1,416) (6,560) {179} (56) 501 8,161) (57) (250) 3,950) Net cash (used in)Iprovided by operations 40,523) The notes form part of these financial statements Page11
Future-Fit Foundation Notes to the Consolidated Financlal Statements for the Year Ended 31 July 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo 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),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amounl can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to thal expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Intangible fixed assets Intangible assets are initially measured at cost. After initial recognition, intangible assets are measures at cost less any accumulaled amortisation and any accumulated impaimient losses. Development costs - over 10 years Tangible flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment- 330/0 on cost Taxation The charity is exempl from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. The notes form part of these financial statements Page 12
Future-Fit Foundation Notes to the Consolidated Financial Statements - continued for the Year Ended 31 July 2025 INVESTMENT INCOME 2025 2024 Interest receivable - trading 57 56 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)'. 2025 2024 Depreciation - owned assets Amortisation - owned assets Surplus on disposal of fixed assets 354 117 179) STAFF AND RELATED COSTS The average number of employees during the year was: Trustees Remuneration and Benefits No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year or the previous year. INTANGIBLE FIXED ASSETS - Charity and Group Development costs COST At 1 August 2024 Additions 6,560 At 31 July 2025 6,560 AMORTISATION At 1 August 2024 Charge for the year 117 At 31 July 2025 117 NET BOOK VALUE At 31 July 2025 6,443 At 31 July 2024 The notes form part of these financial statements Page13
Future-Fit Foundation Notes to the Consolidated Financial Statements - continued for the Year Ended 31 July 2025 TANGIBLE FIXED ASSETS - Charity and Group Computer equipment COST At 1 August 2024 Additions Disposals 2,465 1,416 At 31 July 2025 2,041 DEPRECIATION At 1 August 2024 Charge for the year Eliminated on disposal 2,465 354 At 31 July 2025 979 NET BOOK VALUE At 31 July 2025 1,062 At 31 July 2024 FIXED ASSET INVESTMENTS Shares in group undertakings MARKET VALUE At 1 August 2024 and 31 July 2025 NET BOOK VALUE At 31 July 2025 At 31 July 2024 There were no investment assets outside the UK. The notes form part of these financial statements Page 14
Future-Fit Foundation Notes to the Consolidated Financial Statements - continued for the Year Ended 31 July 2025 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Charity 2025 Group 2025 Charity 2024 Group 2024 Trade debtors VAT Inter-company balance Other debtors 2,008 1,896 106 106 8.760 39,348 244 244 39,592 2,252 8,866 2,002 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Charity 2025 Group 2025 Charity 2024 Group 2024 Deferred income Trade creditors Other creditors Taxation and social security Inter-company balance Accruals 4,076 6,114 120 120 265 265 1,979 1,979 1,900 3,350 1,980 3,430 2,165 7,691 4,079 11,643 The notes form part of these financial statements Page 15
Future-Fit Foundation Notes to the Consolidated Financial Statements - continued for the Year Ended 31 July 2025 10. MOVEMENT IN FUNDS Net movement in funds At 3117125 At 118124 Unrestricted funds General fund {13) 9,542 9,529 Restricted funds Shell Foundation Emergency Fund 6,114 (2,038) 4,076 TOTAL FUNDS 6,101 7,504 13,605 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 107,353 (97,811) 9.542 Restricted funds Shell Foundation Emergency Fund (2,038) (2,038) TOTAL FUNDS 107.353 99,851) 7,504 The notes form part of these financial statements Page 16
Future-Fit Foundation Notes to the Consolidated Financial Statements - continued for the Yèar Ended 31 July 2025 MOVEMENT IN FUNDS - continued 10. Comparatives for movement in funds Net movement in funds At 3117124 At 118123 Unrestricted funds General fund 30,577 (30,590) (13) Restricted funds Shell Foundation Emergency Fund 8,152 (2,038) 6,114 TOTAL FUNDS 38,729 32.628) 6,101 11. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 July 2025 The notes form part of these financial statements Page 17