2025-01-31-accounts - The Michael Norgrove Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

	Pages
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 to 10
Detailed Statement of Financial Activities	11

for the year ended31 January	2025
		Unrestricted
		funds	Total funds	Total funds
		2025	2025	2024
	Notes	£	£	£
Income and endowments
from:
Donations and legacies	3	50	50	50
Total		50	50	50
Expenditure on:
Charitable activities	4	833	833
Other	5	409	409	350
Total		1,242	1,242	350
Net gains on investments		-		-
Net expenditure		(1,192)	(1,192)	(300)
Transfers between funds		-	-	-
Net expenditure before other gains/(losses)		(1,192)	(1,192)	(300)
Other gains and losses
Net movementinfunds		(1,192)	(1,192)	(300)
Reconciliation of funds:
Total funds brought forward		19,282	19,282	19,582
Total funds carried forward		18,090	18,090	19,282

at 31January 2025
CharityNo. 1155487		2025	2024
		£	£
Current assets
Cash at bank and in hand		24,141	25,732
		24,141	25,732
Creditors:Amount falling due within one year	7	(6,051)	(6,450)
Net current assets		18,090	19,282
Total assets less current liabilities		18,090	19,282
Net assets excluding pension asset or liability		18,090	19,282
Total net assets		18,090	19,282
Thefundsofthe charity
Restricted funds	8
Unrestricted funds	8
General funds		18,090	19,282
		18,090	19,282
Reserves	8
Total funds		18,090	19,282
Approved by the trustees on

Unrestricted funds	These are available for use at the discretion of the trustees in furtherance of the
	general objects of the charity.
Designated funds	These are unrestricted funds earmarked by the trustees for particular purposes.
Revaluation funds	These are unrestricted funds which include a revaluation reserve representing the
	restatement of investment assets at their market values.
Restricted funds	These are available for use subject to restrictions imposed by the donor or through
	terms of an appeal.

Recognition of	Income is included in the Statement of Financial Activities (SoFA) when the charity
income	becomes entitled to, and virtually certain to receive, the income and the amount of
	the income can be measured with sufficient reliability.

Donations and	Voluntary income received by way of grants, donations and gifts is included in the
legacies	the SoFA when receivable and only when the Charity has unconditional entitlement
	to the income.
Tax reclaims on	Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts	gift/donation to which it relates.
Donated services	These are only included in income (with an equivalent amount in expenditure)
and facilities	where the benefit to the Charity is reasonably quantifiable, measurable and
	material.
Volunteer help	The value of any volunteer help received is not included in the accounts.
Investment income	This is included in the accounts when receivable.
Gains/(losses) on	This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed	at the end of the year.
assets
Gains/(losses) on	This includes any gain or loss on the sale of investments.
investment assets

es to the Accounts
Expenditure
Recognition of	Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
expenditure	cannot be fully recovered, and is reported as part of the expenditure to which it
	relates.
Expenditure on	These comprise the costs associated with attracting voluntary income, fundraising
raising funds	trading costs and investment management costs.
Expenditure on	These comprise the costs incurred by the Charity in the delivery of its activities and
charitable activities	services in the furtherance of its objects, including the making of grants and
	governance costs.
Grants payable	All grant expenditure is accounted for on an actual paid basis plus an accrual for
	grants that have been approved by the trustees at the end of the year but not yet
	paid.
Governance costs	These include those costs associated with meeting the constitutional and statutory
	requirements of the Charity, including any audit/independent examination fees,
	costs linked to the strategic management of the Charity, together with a share of
	other administration costs.
Other expenditure	These are support costs not allocated to a particular activity.

2 Statement of Financial Activities-prior year
	Unrestricted
	funds	Total funds
	*2024*	*2024*
	£	£
Income and endowments from:
Donationsand legacies	50	50
Total	50	50
Expenditure on:
Other	350	350
Total	350	350
Net income	(300)	(300)
Net income before other
gains/(losses)	(300)	(300)
Other gains and losses:
Net movement in funds	(300)	(300)
Reconciliation of funds:
Total funds brought forward	19,582	19,582
Total funds carried forward	19,282	19,282

	Unrestricted	Total Total
		*2025* *2024*
	£	££
Donation	50	5050
	50	5050
Expenditure on charitable activities
	Unrestricted	Total Total
		*2025* *2024*
	£	££
Expenditure on charitable
activities
	833	833
Governance costs
	833	833

Other expenditure
	Unrestricted	TotalTotal
		20252024
	£	£ £
General administrative costs	9	9 -
Legal and professional costs	400	400350
	409	409350

		2025	2024
		£	£
Other loans		5,651	6,100
Accruals		400	350
		6,051	6,450
8 Movement in funds
	Incoming
	resources
			At 31
	(including Resources January
	At 1	other expended 2025
	February gains/losses
	2024
		£	£ £
Restricted funds:
Unrestricted funds:
General funds	19,282	50(1,242) 18,090
Total funds	19,282	50(1,242) 18,090
9 Analysis of net assets between funds
		Unrestricted
			Total
			funds
			£ £
Net current assets		18,090 18,090
		18,090 18,090

	Unrestricted
	funds	Total funds	Total funds
	2025	2025	2024
	£	£	£
Income and endowments from:
Donations and legacies
Donation	50	50	50
	50	50	50
Total income and endowments	50	50	50
Expenditure on:
Charitable activities
	833	833
	833	833
Totalofexpenditureoncharitable
activities	833	833
General administrative costs,
including depreciation and
amortisation
Postage and couriers	9	9
	9	9
Legal and professional costs
Accountancy and bookkeeping	400	400	350
	400	400	350
Totalofexpenditureofother costs	409	409	350
Total expenditure	1,242	1,242	350
Net gains on investments		-
Net expenditure	(1,192)	(1,192)	(300)
Net expenditure before other gains/(losses)	(1,192)	(1,192)	(300)
Other Gains
Net movement infunds	(1,192)	(1,192)	(300)
Reconciliationoffunds:
Total funds brought forward	19,282	19,282	19,582
Total funds carried forward	18,090	18,090	19,282