Annual Report The o AVOCADO and Accounts: Our Story 2023 Formerly Money PJ infoLthheavocadofoundation.org •44(0)844 3S10072 O O Q httlI1nktr.*ern1tAV(XADoF•ts1bdatiOfi
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Contents The ag F1ndatiOn M4rLey Welcome &ThankYou Acknowledgements Equity, Diversity, and Environment Mission, Vision, Values UN Sustainable Development Goals Strategic Goals and Priorities Key successes Communications, Media, and Events
OperationTransparency
Partnerships NONPROFITS AVOCADO+Accelerator Programme 14 AVOCADO+ Lite Executive programm IS Dragons Den 16 BAMER HUB Financials Independent Examiner's Report Financial Review Statement of Financial Position Balance Sheet Fund Breakdown120231 Governance 23 24 25 26 27 28 29 io li 12 13 17 YOUTH Bonsaimoney &Tech for Good ENTREPRENEURS I#WorldChangers Entrepreneurship Training) Impact 18 19 20 21 22
Welcome & Thankyou! The rCr F1ndatiOn M*eY In 2023, the voluntary sector continued to navigate significant headwinds, with economic uncertainty and deep-rooted inequities presenting formidable challenges. Yet, we remained steadfast in our mission, bringing practical knowledge and skills to more young people, entrepreneurs and non-profit leaders. The year marked the successful launch of our pivotal #OperationTranspJren¢y report, "often Tolerated, Never Acceptable.. The Diversity Data Gap in Charitable Funding and Governance" at the House of Lords. The report and campaign ignited vital conversations across the sector, advocating for meaningful regulatory changes and layingthe groundwork for future transparency and equity in the charity landscape. Ourcommitment to eradicating economic inequality extended overseas, with impactFul training sessions in Ghana and Nigeri3, reaching hundreds of women, youth and entrepreneurs. We also celebrated another milestone with the Ilth instalment of Dragons Den, where £90,000 in funding was awarded to BAMER-led non-profits, empowering grassroots initiatives to continue their invaluable work. Our BAMER HUB online network exceeded 600 members in 2023, forming a vibrant commLJnity. As we look forward, we know that thejourney ahead will demand resilience and collaboration. But together, we continue to rise, knowing that the work we do today lays the foundation for a fairer, more inclusive tomorrow. To everyone who has 5UPPQrted and journeyed with u5 through 2023 and beyond.. thank y(>u. Rain may not f311 on one roof alone, but with shared purpose and determinatic>n, we wezther every storm. MDE CEO & Founder
Acknowledgements We are incredibly thankful for the ongoing support from our valued funders. Special recognition goes to our past and present funders, including City Bridge Foundation, The National Lottery Community Fund, Tudor Trust, Co-op Foundation, COMMUNITY Barnet, Esmée Fairbairn FoLJndation, Global Giving, JRSST-CT, London Funders, Making a Difference Locally, Paul Harlllyn Foundation, The Lions, UK Comrnunity Foundation, and Youth Futures Foundation. Our heartfelt thanks also extend to our dedicated Trustees.. Alezandra Udueni, Dilys Barnett, Edwin Viegas, and Frederic Je3n-Baptiste. We are proud to seNe our inspiring community ofentrepreneurs, non-profits, and young people, whose engagement is central to everything we achieve. Lastly, we deÈply apprÈciatÈ our volunteers, whose daily contributions enrich every facet of our work. Their support is truly invaluable. Reference and Administrative details The legal and operating name of the Charity is TheAVOCADO Foundation IFormerly Money4YOUI. The Charity is registered in England with the Charity Commission, Charity number 1157549. The Charity operates as a Charitable Incorporated Organisation, was registered on 19 June 2014, and operates in accordance with its Articles of SOCiation. The trustees are all individuals. Our address is Suite 12 Mill Hill House, 6 The Broadway, London NW7 3LL. Our phone number is +44101844 3510072, our website is theavocadofoundation.org, and our contact email address is Info theavocadofoundation.org. Click here to access our other social platforms. The Frf F0Unckrtn M*kney
Equity and Diversity The F1ndatiOn M*eY In keepingwith our Equity. Diversity and Inclusion Policy. we embrace and celebrate the diversity of ourworking, learning. and service delivery environments. We approach employment, volunteering, learning, and Service delivery with an equity len5- recogni5ingthat everyone 15 an individual and has specific need5, which we airn totske reasonable step5 to accommodate. We also aim to ensure that within 811 areas ol work, we prioritise the needs ol the underrepresented individuals and groups thatwe Serve. We are fully committed to equality ol opportunity and seek to take positive action to support this whenever possible. We believe that all ol this isjourney and we are committed to learning, transparency and staying accountable alongthe way. Environment In keepingwith our Environmental Policy, The AVOCADO Foundation IFomierly Money4YOUI 15 comrnitted to continuously pursuing opportunities to reduce consumption of resources, to avoiding waste and cornplying with all environmental legislation, regulatory and corporate requirements to protect the environment. We acknowledge the connection between the climate and otherenvironmental crises and the threat of current and future homelessness, disease, food and water shortages and poverty lor millions of people around the world, as well as the major damage being caused to our natural ecosystems. We therefore recognise our responsibility to reduce our carbon and environmental footprints and formally committo championing environmentèlly responsibilityto those we serve.
The AVOCADO,.- Mission, Vision, and Values a? FourKkrtion Mrffj2y The AVOCADO Foundation (Formèrly Money4YOUI is a charitable incorporated organisation that operates in the UK and overseas. We are on a mission to eradicate the economic inequalities experienced by young people, entrepreneurs, and non-profit organisations, from underrepresented communities. We started out as Money4YOUth in 2014 and evolved to Money4YOU in 2020 to reflect our expanded focus and reach. We are now The AVOCADO Foundation. We work with intelligence. In a rapidly changing world. our interventions start with a clear, accurate and deep understanding of the needs olourservice users. With thi5 insight, we are committed to collaboratively developing and implementing high quality solutions. These are differentiated and impattful Ènough to Ènsure that they do not create dependence but instead enables them to be co- owners and true architects of their own change. Our overarching aim is to provide Excellent, Ethical and Evidence-based Empowerment solutions. We envision a world where no one is poor because ofthe colour of their skin or their ethnicity. We need interaction. In our work, the strength of collaboration is about'working cooperatively with others to work towards common goals. In practical terms, this means that we actively seek opportunities to build partnÈrships and encourage processe$ and climates where participative decision-making is the norm. We value Integrlty. We operate in an open, honest and transparent manner with everyone we work with. We set high seryice standards and hold ourselves accountable forthe quality of our work and the results we achieve. We love Insplratlon. We apply creative methods that engage, inspire and motivate those we teach in an environment that fosters innovation and forward thinking. By focusing on theirspecific needs, we provide tailored solLJtions that are developed in collaboration with our stakeholders. This provides authentic and enriched learning experiences for learners, fosters new way5 of thinking about their own practices and enlightens them about resources, potential pathways and opportunities. We subscribe to the beautiful South African philosophy of 'Ubuntu, which recognises that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity,. that we achieve ourselves by sharing ourselves with others, and caring for those around us.
The UN Sustainable Development Goals ag F1ndatiOn M4rLey Our work aligns principally with three UN Sustainable Development Goals.. Nn WAU Et¥JCAlloN 1.51 End poverty in all its forms everywhere. We are buildingthe resilience of the poor and those in vulnerable situations as well as reducing their exposure and vulnerability to economic shocks and disasters. 4.41 Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. We are substantially increase the number of women and girls, youth and adults who have relevant financial literacy, business development, and other skills, for employment, decent jobs and entrepreneurship. 10 REDU( INEQUAUIIS 10.31 Reduce inequality within and among countries. Through our interventions, we are reducing inequalities of economic outcome for underserved and underrepresented communities.
The Strategic Goals and Priorities ag F1ndatiOn M4rLey 2023 was the last year in our 2021-23 group of strategic goals and priorities: Reduce our reliance on grant-makers by cultivating alternative sources ofearned income With partners, deliverAVOCADO+ Accelerator Programme in the UK to build the capacity, resilience and sustainability of 50 small BAMER-ledlrun charities and social enterprises Identify and cultivate 10 partnerships and opportunities that enhance Money4YOU's growth, influence and future sustainability. Produce quality information and 6 training resources for ind ividuals, families, schools and community groups worldwide. Proactively and reactively offer them to all that wish to enhance their skills, knowledge and confidence in financial literacy and enterprise BAMEff
The 75+ Hours 675 rCr F1ndatiOn M*eY of specialist one-to-one training delivered via the AVOCADO+ Accelerator programme participants 21.3 % reached through our
Worldchangers
Entrepreneurship and Financial Literacy Training BAMER HUB annual user growth achieved 605 event £451,800 registrations in successful grants awarded to our AVOCADO+Accelerato Fellows in 2023 £90,000 Snapshot of Key Successes 340 | in fundingawarded to 6 BAM ER-led nonprofits at our 2023 Dragons Den event 4,580 episodes seNice users supported through AVOCADO+ Fellowship organisations in 2023 of BonsaiBriefs podcast published 2,021 693 new strategic partnerships formed podcast streamed and played across different platforms BAMER HUB members
The rCr Communications, Media, and Events F1ndatiOn M*eY Nlaking an impact isn'tjust about deliveting the work.. we also knowthat ourinfluenceon the public conversation around ourareas of work matters. These articles mentioned our work in 2023. North Bank Fomm.27 Fob.2023 Civilsocioty. 14 5trp2022 mmi civil5EtYMedJa.24 March, 2023 Ci¥il&ciety. 09Q(12023 dlrnemoiiey, 130(c 2023 605 event tickets CivilSo(iety. 09N9V20jNbv5 ordered in 2023 UKFwndialsln9. 21Jiily2023 io
OperationTransparency Report:
Often Tolerated, Never Acceptable The o AVOGAPO ,,, ., Foundation Mdqey The diversity data gap in charitable funding and governance Report Launched on November 8, 2023 at The House of Lords
Operation
Transparency Research conducted between January 2022-November 2023 In 2023, with support from JRSST-CT, we wound down the #OperationTransparency campaign, which aimed to close the diversity data gap in the charity sector. Key achievements included publishing'often Tolerated, NeverAcceptable: The Diversity Data Gap in Charitable Funding and Governance." a 12,000-word report advocating for mandatory diversity data collection by the Charity Commission. Additionally, we developed an acce55ible campaign toolkit in various format5 and created a digital archive of research and resources. Earning Trust H(IWDOWEDE51GN FAIR.IMPACTFUL.ANDEQUIT CHAR1TYDIVERSITYTA? A high-profile launch event at the House of Lords brought together key stakeholders, facilitating vital policy discussions. The campaign's visibility grew significantly, with increased media coverage elevating the discourse on diversity and transparency. Bridging the Data Gap Overall, the campaign built a strong foundation for future initiatives, broadened advocacy support, and secured political interest from shadow ministers. We are grateful for JRSST-CT'S partnershipj which has been instrumental in our progress towards a more transparent and inclusive charity sector. FROMTk4NSpAktNCYTODEttsLONISATION Scan to Read the Full Report
The rCr F1ndatiOn M*eY Partnerships We are grateful forthe invaluable support of our UK and overseas partners, who share our commitment to collaboration and making a positive impact. Kingdom Care Orphanage ITogol Lewisham Local Linklaters Literzcy and Integral Dev't (Togol Media Trust NRCN (Ugandal Ntentan Projects (Ghanal Ogudu GRA Residents Association and The Holy Family Church INigerial Professional Women ILiberial ROTA IRace on the Agenda) Salesforce The Ubele Initiative United Action for Children Icameroonl Voice4Change England A special thanks goes out to.. African Child in Need (Ugandal Apex Community Aid Ghana CAHN (Caribbean & African Health Network) Charity Excellence Framework City University of London Community Watch Initiative (Sierra Leonel Engineers Without Borders Fountain Heights and Top Grade Secondary Schools in Nigeria Getting on Board Grassroots Web The Good Trouble Collective LTD Hogan Lovells (Alicantel S.L. & Cia Joedy Foundation (Kenya) 4lFlnawthlEquii nuphiianth We appreciate the contribLJtions of all our partners, funders, and corporate sponsors. Their support is instrumental in achieving our mi55ion. 12
The NONPROFIT PROGRAMMES F1ndatiOn MrfrLey AVOCADO+ Accelerator Programme AVOCADO+ Lite Executive Programme Dragons Den BAMER HUB G6 13
AVOCADO+ Accelerator Programme What Makes It Unlque.. Launched in 2016, this is the UK'S prefnieraccelerator prografnmespecific8llydesigned for BAMER IBlack, Asian, Multi-Ethnic, and Refugeel-led charities and social enterprises. Itfocuses on six key 3re3S-fin3ncial ritness, oper3tlOn5, impact, le3der5hip, network5, and 3warene55-offeringa 0year1nteSive cour5eto boost sustainability. Fouthion How ItWork$ Participantsjoin monthlytwo-d3ytraining 5es5ionsand receiveyear-round supportfrorn 3 consultant chosen based on theirspeiific need5. Ourcon5ultant5 areexperienied third-sector profe55iona15Wlth @xpÉrtise In govÈrnance, financÉ, incomè divèrsification, and supporting BAMER groups. Impact". Empowered Organi53tion5.' Supported 56 BAMER-led nonprofits, imp?cting99 individu?1s. Financial Growth.. Awarded £451,800 in gr3ntSto program fellows. Skill Developtnent.. Delivered 68 hour5 of training and 75 houtsof one-on-one support. Key khievements.. Increased Resilience.. Enhanced financial fitne55, operations. lrnpact, leadership, networks, 3nd awareness for partiCiP3ting org3nisatlOn5. PositivÈ Feedbèck.. Pèrtitipants praised the program for its value, eMpÉrtise. and support. Community Impact.. GradLJates ère makinga difference in theircommunities through theirwork. SpecialTh3nk5: We extend our gr3titudeto ourcon5ultant5-Hemant Mi5try, Hugh Stultz, Kemarwalford, and Fiona Murray Sr*me 2023 Fellow5: Active Horizon5'. Empovvering BAMER youth through leadership, arts, 3nd sport5. A5hok'5Vision'. Supportingvisually impaired individu315Wlth resources and skills. Breadline London.. Combating povÈrtywith essential support services. "YheAVOCADo+progrommeh¢751Ren ugumechongerforusutone Community. Inspiteofhovingbetn on0tr$IlIt1[Pr0gram11trés, this one hos beenbylorthe mostlmpottfvl." Yewonde Kinnike, One Community D3'?roYouth Project.. Supportin8youngrefugees from the Horn ofAfric3. 14
AVOCADO+ Lite Executive Programme TF Foundcrtion OveThiew: Launched in April 2022 as a pilot, the AVOCADO+ Lite Executive Programme supports leaders of BAMER-led nonprofits with an accessible, focused alternative to the annual intensive AVOCADO+ Accelerator programme. Eight-week virtual classes covering governance, project design, fundraising. financial management, leadership, risk management. marketing, communications. income generation, and data interpretation. Designed based on Charitie5 Aid Foundation research to build resilience and sustainability in smaller nonprofits. Key Highlight5: Cornprehensive Curriculum: Covered essential topics like governance, fundraising, finance, and leadership. Expert Guidance- Provided one-on-one support from experienced consultants. strong Participation.. Attracted 29 organizations and 90 individuals. Positive Impact.. Increased capacity and skills among participating nonprofits Feedback: IOOO/o of participants agreed the programme met their needs. Praise for the quality ol facilitators and interactive learningforrnat5. Suggestions included adjusting 5e55ion pac@, length, and providing rnore eKample5 from previous cohorts. "Ifoundthisses$ion to be highlyinlomiutiveondhelpful. Ihovemore insightinto leadershipandgovernunce thotl willbeworkingon. Ict7n't believehowmuch Ihoveleorntin one se$sion.° - UfuomuGrttceAnighoro, TheMuTvellov5 Girls Club Impact.. The programrne strengthens BAMER-led nonprofits by enhancing skills and networking opportunities, supported through events like Dragon's Den and resources on the BAMER HUB.
Dragons Den 2023 Fourthtion m<Y Overvlew: Dr3gons Den wa5 e5tabli5hed in 2012to bridge thegHp between Small BAMER-led nonprofits and grant-makers. The 2023 event marked its Ilth edition, held at Saleslorce Tower London, with pro- bono support from Salesforce and funding from the City Bridge Foundation. "Thegranth05 tTunsformed my plunningprocess untlollowed me to foctss on supporting 81Gckfemole founder5 Irt London. Participatory Grant-making: Dragons Den emphasises community-driven funding by givingequal weight to 8udience votes nd funders, evÈluations in grant decisions. AttÈndeÈs also contribute through donations and ticket purcha5e5, promoting5hared power and collective purpose. Rtt¢hoel Polmer, Block Muven, 2023 Grontwinner Impact and Engagement: £90,000 in grants awarded to seven organi54tions, in amountsof £20,000. £10,000. 3nd £5,000. 12 Iin31ists, selected from 55 applitants, pitched to an audience of BAMER nonprofit peers, whosevotes were cornbined with funder5' decisions. Winners included Bridging Barriers, Black Maven, Travel Hands, Proud To Be Me. Ashok Vision, and Financial Harmony, benefiting London communities. Since 2019, Dragons Den ha5 distributed £400,000 in grant5 and in-kind gift5. The event attracted 155 attendees from BAMER-led nonprofits and the funding sector. with a hybrid format incrÈ3sing participant and social media engagement by 20(Ph. Pitch participant5 benefitfrom networking opportunitie5 and non-financial 5UPPOrt through the AVOCADO+ Accelerator Programme. £90,000 in grant5won by BAMER-led isatio 12 Gratltudt: We are immensely grateful to our 2023 keynote 5peakerJeff Green as well as all our sponsors and supporters land in particular.. Association of Charitable Foundations. Calyx Drinks. Cripplegate Foundation, NHS Blood and Transplant, School for Social Entrepréneurs, School of African Languages Limited, Social Investrnent Business and SolarAidl for helpingto make Dragons Den 2023 3 success. live pitches 55 applications 16
BAMERHUB 'Myorgonisotitrn, Active Horizons, h05 benefittedimménsÉly fromyourintensive support ofcL7pucitybuilding andso much more. Icon te5rifyos to howyou orestsch o life sover, pttrtitulorlyto BAMERorgonisotiortsiir Fourthtion m<Y Overvlew: Launched in 2020, BAMER HUB is an online platform tailored for BAMER-led non-profitgroups, offeringdigital tools and resources based on insights gained from eightyears olthe AVOCADO+ Accelerator Programme. 3:16 Average duration of a visit to Yeukoi Toruvinga. CEO, Active Horizon5 Recent Developrnerrt5120231'. In 2023. BAMER HUB was revamped Igaininga new platform and appl and membership reached 693-a 21.386 increase from the previousyear. User engagement has deepened, with an average Vlslt duration of 3 minutes and 16 seconds. We added 293 new lundingopportunities. enhancing financial support for our members. Duringthe year, 822 usèrs accèssed the plattorm, with 363joiningthrough referrals, highlighting the community'5 comtnitment to Sharing resources. We received 3.8K page views, with popular resources like the registration page and AVOCADO+ Lite program drawing significant attention. Upcomingfeatures will improve connertivity byen3bling users to view profiles, message e3th other, and engage in community forums. BAMERHUB.com 21.3 % 186 year-on-year user growth 693
BrunchBriefing
attendees in 2023 BAMER HUB members i 2023 Events: Bi-rnonthly BrunchBriefing5 and quarterly Innovation Hubs enable usto rneet high dernand for supplemental training beyond the scope olthe AVOCADO+ programmes and they feature diverse speakers on topics relevantto the non-profit sector and requested byour members. In 2023, we hosted 5e551Qn5 With repre5entativesfrorn London Catalyst, People'5 Postcode Lottery, and the National Lottery Community Fund, with'meet the Funder, sessions receiving particularly posltive feedback. 293 new Funding Opportunities added Overall. BAMER HU8 ha5 evolved into a vital resource for BAMER-led non-profits, losteringgrowth and sust3in8bility within our community. 17
The YOUTH PROGRAMMES J7 Founcknion 18
BonsaiNoney: Since 2014, we've been equippingchildren and young people with financial literacy and entrepreneurship skills. A 2023 Money and Pensions Service report showed that 77Vo of 1&2+ year-olds feel anxious about finances, with nearly half feeling unprepared. Our Bonsaimoney initiative. part ol our youth focused initiatives, addresses this by teaching eskntial skills for financial success and driving positive change. The rCr F1ndatiOn M*eY In 2023, our training reached 495 children and young people in the UK and abroad, while social rnedia efforts engag@d an additional 21,522 young people, Our youth-focu5ed web content saw 11,459 views, with a 128.9Oh rise in social rnedia engagem@nt overthe previous year. Resources included blog posts, interactive podcasts, and money tips. Tech forGood: The Tech for Good initiative connects tech professionals, educators, and BAMER-led non-profits to address social challenges using technology. Since its 2020 launch, the programme has engaged 18 organisations and provided practical work eyperience for 54 students. In 2023. two rounds were conducted.. one independently and another in collaboration with City, University of London, where wherethe programme is now integrated as part of final-year students coursework. BonsaiBrièfs Podcast: Our podcast, BonsaiBriefs, launched in May 2022 and continued through 2023, publishing daily P150des. In 2023, it garner&d 2,021 play5-a 62% increase from 2022 with popular episod@s like Compound Interest and Mak& Money While You Sleep. The listener base grew by 139%, reflecting the rising demand for financial education arnong young people. 495 Children and Young people equipped with financial literacy skills "Ifeel much moreconfidentnowi I leorned voluoblesoving ondbudgeting techniques, t7s well os importont insights oboutpensions ondinvesting. The warning obout'buynow, payloter, was especiallyhelpful."_ Oussamo, London, 2023 340 podcast episodes published in 2023 Emmanuel from Nigeria 19
The ENTREPRENEURSHIP PROGRAMME g F1ndatiOn Mrfney PCAD , 1,1! ne PC4D 20
The rCr F1ndatiOn M*eY Ourworldchangers Entrepreneurship Training (WCET) program empowers aspiring and established entrepreneurs, particularly women and girls from underrepresented communities, with essential ski115 and resources to launch and grow sustainable businesses. The program covers five core areas.. business development creativity and innovation funding and finance, resilience and well-beingj and transformational leadership. Training sessions are delivered at no cost to participants, ensuring accessibility and inclusivity for those who need it most. WCET'S impact extends beyond the classroom. Through ongoing support and engagement, participants are equipped to thrive in their ventures and continue their growth journey. They also receive pedagogical training, enabling them to apply and share the skills gained, multiplying the program's benefits within their communities. Feedback has been overwhelmingly positive, with participants citing increased confidence in business management, creative problem-solving, and financial planning. "I leorned voluoble strotegies on soving, monaging, and growing my business. I reolly enjoyed the troining". Emmonuel from Nigerio WCETpfjrticipJnts in Ghono 21
The rCr F1ndatiOn M*eY The WCET program fosters a strong sense of community through our active WhatsApp group, which grew to 337 members in 2023. This online platform provides a valuable space for ongoing peer support, knowledge sharing, and continued learning. Follow-up surveys indicate that 68¥0 of respondents reported business growth, 730/0 identified new funding sources, and 92010 successfully integrated creativity and innovation into their strategies. Furthermore. 860/0 discovered leadership styles that suited their businesses, while all respondents adopted resilience practices to SUPPOrt their well-being. Our commitment to sustained engagement and localised partnerships has strengthened community ties, expanding our reach and ensuring WCET continues to drive economic empowerment. we look ahead, we remain dedicated to equipping changemakers with the tools to create brighter futures for themselves and their communities. 68 entrepreneurs trained in Nigeria 2023 Impact: Reach.. Trained 280 entrepreneurs in Ghana and Nigeria. Positive Impart.. 900/0 of participants reported growth, funding access, and skill improvement. 112 entrepreneurs trained in Ghana CETparticipunts in Nigerio 22
Financials Fourthtion M*y 23
Independent Examiner's Report for the year ended 31 December 2023 The rCr F1ndatiOn M*eY I report to the charity trustees on my examination of the accounts of the Money4YOU (the Charity) for the year ended 31st December 2023. Responsibilities and basis of report As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirernents of the Charities Art 20111'the Act'l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act 2nd in carrying out my examination. I have followed 311 applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l.Accounting records were not kept in respect of the Trust as required by section 130 of the Act. or 2.The accounts do not accord with those records. or 3.The accounts do not comply with the applicable requirements concerning the form and content of accounts Set out in the Charities (Accounts and Report51 4. Regulations 2008, 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. I 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. Matthew Upex F.C.C.A. IFellow of the Association of Chartered Certified Accountants) MPU Associates Limited, 44 Salisbury Gardens, Bourne, Lincolnshire, PEIO OFU 24
The Financial Review for the year ended 31 December 2023 rCr F1ndatiOn M*eY Respèrtive re$ponsibilitie$ of trustèes The charity's trustees are responsible forthe preparation of the accounts. The charity's trustees consider that an independent examination is required for this year under section 144 of the Charities Act 20111"the Charities Act'l. Method of preparation of accounts The financi31 statèments have bèen prepared implementing thÈ FRS 102 SORP (Statement of Recommended Przctice forAccounting and Reporting by Charities) 2015 las amÈnded by the Bulletin issued in February 20161 and in accordance with the Financial Reporting Standard 102, leflective 1st January 20161 Money4YOU meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenNise stated in the relevant accounting policy notes. Financial Review of the Position The Trustees confirm that they are 5atlsfied that the Charity is a going concern. Policy on Reserves The Trustees aim to hold zt least six months of operating costs as unrestricted reserves, in line with our sustainability strategy, to protect against financial risk and any drop in income. At the close of the reporting year this policy had not been met. One key reason for this is the support given to the 4ENTREPRENEURS Restricted Fund. There is a large requirement in this area and although Unrestricted funds were required to complete this work the Trustees feel this was of great importance. With further resource even more good could have been done such is the requirement. The Trustees have plans for raising Unrestricted funds in a variety of ways, particularly in respect of the monetisation of COLJrses and the large amount of data the charity holds. In specific respect to the WCET, the Trustees have plans to generate incoming resources for this specific fund in order that the urgent work required can continue. Approval of this report This report was approved by the Board of Trustees on 1811012024
Statement of Financial Po The AVOGADO,,- R••trld•d lficom• ftind• UTrr•strlct•d fundi EndoTr•nt fvnds Prforyoar lunds FndatIOn M42y R•¢Lvnm•nd•d cat•gorl• by xllvlty Tolal funds Incom• 4.297 198.155 202 452 6.278 197.500 203 778 10.575 395.655 406 230 8.835 251.511 Tolaj Exp•ndllur• ' Èwndttur• on: 158.081 193.695 351.776 225.360 (hh Total 193 695 351 776 N•t Incom•l(•xp•ndltur•) b•for• lax for th• r•portlng p•rlod 44.371 10.083 54.454 34.986 N•t Incom•l(•xp•ndltur•) aft•r tax b•lor• Inv•slm•nl galnsl{lou•8) N•1 In¢om•l(•xp•ndltur•) Transf•rs b•lw••n fund Al•1 mov•m•nt In fvnds 44.371 44.371 20.850 23.521 10.083 10.083 20.850 30.933 54.454 54.454 34.986 34.986 54.454 34.986 R•condN•llon of funds." Tot4 Total funds n*•d forn•rd 26 36.961 60.482 FA.427 95.360 101.388 155,842 66.402 101.388
Balance sheet RMtrlct•d UmBtrlci•d I0• Erbdemmwi Toial th1• lunds ndi lund Total Iisi FNn Foundatton Mth£y Current a888ts Cash at bank and In hand Total cwr•nt •u•ts 61,232 61,232 156,592 156,592 101,888 101,888 95.360 Credltors: aMots falllng du• wlthln on• y•ar 750 750 N•t curr•n¢ •ss•ttyWlltl•s) 60,482 155,842 101,388 Total •ss•ts l•ss curr•nt IlablllU•s 60.482 95,360 155.842 101,388 Total n•t •ss•ts or Ilablll¢l•g 60,482 155.842 101.388 Funds of the Charfty Endowm•Trt fund• INot• 27) R•strlct•d Inc•m• fvnd• 96,360 60.482 64,427 16.111 20,850 101,388 Unr•strfct•d lund8 60,482 D•lgnat•d funds Tot funds 60,482 155,842 Dosignated fund8 In 2022 rewosent monles alk)cated by tho Trustees for amocatlon to the undorfufthd Restrthd 4ENTREPRENEURS fund. Th1$ trarbsfar was mad8 during the 2023 yoar. 27
Fund breakdown and descriptions for the year ended 31 December 2023 The Foundcrtw)n Fund Fund bl•n¢• lYp•EE R 4xUR' btought Galn¥ d Exp•rwJhur• Tran•hM ftsrw•rd Fund n•m Uniestrcied 4YOtrrH 36.1 202.452 156.Q81 .482 To PTowts funthng of youth in untsr- repr8senled Cornn0S. Providing $upport Y trainlw lIagj 9 10 23. 3.914 1.555 4PIONPROFITS To grovFd& 6upp)rt lo profits8nd L4witth. MalY in und8r.repres8nteLT and a4MER Cornmunrt. Th& wposo ofth lund 15 to promtte 8 cithmunty pthi and rosouTC& dlowlng Dry)11$ lo become r•BAr1 and Sus80. PTDvwJ6d l agpects of rinning a nol-for-wofit gani8aknn, c(ffipILgnc•AThI the ben0fiOa oundw In excoHence_ 79.&IB 11111 192.608 165.954 IL.162 4ENTREPRENEURS To prowdo trnll and adutation fof viduals in counlrts. Th8 fund ms to eqvip Ihos¢ indvkbjas slolls to IwannI opernt¥J thdlenwg Fc¥merrts. 1.170 14.037 12,a67 IIOPTIOp8rnWM4 Transpwwl was pThi¢ed by Joseth Rowni ReformTrust. CTfora caftwlon to wKow¥ge The Charty Commits$Nm tho way in thich dauon ihtr thwd ¥Bc¢w 14 ¢(drIed aTrJ dBpl8yod. ThB Cutrenl systim &x$ noi a¢Jequale Informall on 9000. •outhty. or 10.( 9,790 351,TT6 210 15542 Tow p•r b•l•n¢• •h••t 101,3 Tr)slvsfKth re5ery•8 loRsstrKtsd m$WW8s bayoboen dunng thvtyoatéufr k)thll ov8rneLnhiyToquKemBntforswwrtoftswDTk uTrJertakan ty tt*4EP4TPEPREI4EURS 28
The Governance Interns and Volunteers Ul Founckrtion M•-ryY As always, we're deeply indebted to our amazing interns and volunteers. This year, they generously gave theirtime and expertise to help us run events, edit videos, maintain our virtual learning platform5, produce transcripts of training events, create partnerships, offer mentorship to young people, and strengthen all the other behind-the-scenes work that multiplies our impact and seNes our community. Board of Trustees Dilys Barnett Edwin Viegas Alezandra Udueni Frederic Jean-Baptiste Chief Executive Officer Signed on behalf of the trustees: Amickycarol Akiwumi MBE We are satisfied that this represents a true and lair view of the financial position of Money4YOU Director of Strategic Operations Dawn Morris s Barnett (Chair I Edwin Viegas (Treasurer) 29
4You 4You Miiikney 4You The Fou)dotvJn FormoAyMoney4YOU 4You eyffjk M. Extraordinary impact emerges from the daily actions of ordinary people who choose to make the most of their time, talent, and treasures. - Amickycarol infwheavoeadotoundation.org +44(0)844 3510072 000 https: 1ninktr.eemeAVOCADOF•dti•Th