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← Building Heroes Education Foundation

2024-07-31-accounts

Charity number: 1158886

Building Heroes Education Foundation

Unaudited

Trustees' report and financial statements

For the year ended 31 July 2024

Building Heroes Education Foundation

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 23

Building Heroes Education Foundation

Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 July 2024

Trustees P J J Bradbury
D L Porter
D Barling (resigned 11 June 2024)
A Foster (resigned 1 December 2023)
M J Betteridge
R Tucker MBE, Chair
Lt Cdr N Atkins
J Whitmore (resigned 10 December 2024)
F Dodson (appointed 9 April 2024)
J Dale (appointed 9 April 2024)
R Augoustie (appointed 9 April 2024)
J Evans (appointed 9 April 2024)
D Mynott (appointed 11 June 2024)
J Gibbs (appointed 11 June 2024)
B Miller (appointed 10 December 2024)
J Glover (appointed 10 December 2024)
Charity registered
number
1158886
Principal office
Level 2, Southpoint
Old Brighton Road
Lowfield Heath
Crawley
RH11 OPR
Independent Examiner
Lucy Hammond BSc FCA
Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
Chief Executive Officer
Karen Jefford (to 1 December 2023)
Brendan Williams (from 1 December 2023 to 31 May 2024)
Christopher Charles (from 1 June 2024)

Page 1

Building Heroes Education Foundation

Trustees' report For the year ended 31 July 2024

The Trustees present their annual report together with the financial statements of the Charity for the year 1 August 2023 to 31 July 2024.

The financial statements have been prepared in accordance with the current statutory requirements and comply with the Charity’s governing document and the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ issued (January 2019).

Objectives and activities

a. Objectives and activities

The charity’s objectives for the public benefit are:

To advance education by providing training and qualifications in construction and horticultural skills to:

To support young people in their personal development by offering guidance, training, and practical activities that enhance their skills, capabilities, and confidence, enabling them to play a full and responsible role in society.

To promote social inclusion by addressing the needs of socially excluded individuals aged 18 and over, particularly ex-service personnel. This includes preventing social exclusion, relieving the needs of those affected, and helping them to reintegrate into society.

b. Activities undertaken to achieve objectives

To deliver on these objectives, Building Heroes provides the following key services:

c. Main activities undertaken to further the Charity's purposes for the public benefit

The main activity of the charity is providing specially tailored fast track training programmes in Construction Skills, Construction engineering, Groundworks and Plant Operations at 10 centres around the country in partnership with Training Providers and Industry Partners, this meets our public benefit obligation outlined in our Aims.

The Trustees confirm that they have complied with the Charities Act to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Building Heroes Education Foundation

Trustees' report (continued) For the year ended 31 July 2024

Achievements and performance

a. Main achievements of the Charity

Building Heroes continued to deliver its sector leading training programmes in 10 centres around the country. Courses were delivered in two main skills areas, Basic Construction Skill and Retrofit Assessors qualification. In total 72 cohorts totalling 656 learners attended courses during this reporting year. This number was below the target of 800 but this was partly due to the temporary closure of the Cardiff Centre. All of these have been or are being remedied in the new financial year.

Financial review

a. Going concern

The Trustees are confident that the Charity can continue as a going concern. See note 2.2 in the financial statements for futher details.

b. Reserves policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be at a level equivalent to between three- and six-month’s expenditure. The Board of Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised.

The last financial year has seen the charity move closer to achieving this aim and with the new CEO’s drive to become an Independent Training Provider, we are confident of achieving this level of reserves.

Building Heroes Property Services (BHPS) is a wholly owned Trading Subsidiary which has been provided startup funds by the charity. It is expected to become self-sufficient during the next financial year but offer no threat to the on-going business of the Charity.

c. Principal risks and uncertainties

Risks

(i) Lack of learners

The Charity would be at risk if it could not recruit sufficient learners but is currently receiving over 2,000 application per year for only 750 places available

(ii) Lack of funding

The Charity has undertaken a series of efforts to diversify its sources of funds and now has no single source which represents more than 25% of its revenues.

(iii) Reduction in AEB funding for our partners to support the courses

There has been no negative indication regarding the availability of funding to support our Level 1 and 2 programmes.

(iv) Failure to attract Customers to BHPS

BHPS has recently expanded its customer base significantly, increased its workforce and improved profitability, this risk is receding.

Page 3

Building Heroes Education Foundation

Trustees' report (continued) For the year ended 31 July 2024

d. Financial review

As at 31 July 2024 the charity had a deficit on unrestricted funds and total funds of £6,954 (2023: £100,851).

With the focus on Corporate Sponsored Centres the charity has continued with a surplus with a £93,897 turnaround in net movement of funds (2023: (£11,691).

Major donors included the David Wilson Foundation, The Builders Conference, The Veterans Foundation, the Worshipful Company of Constructors, and the Armed Forces Covenant. Many other smaller donations were received, and we are grateful for every one.

Structure, governance and management

a. Constitution

Building Heroes Education Foundation is a Charitable Incorporated Organisation, registered charity number 1158886 and is established under its constitution dated 1 October 2014 as amended on 21 May 2020. The members of the Board of Trustees who served during the year and up to the date of signature of the financial statements were:

R Tucker MBE FRSA CFILT FInstLM (Chair) P J J Bradbury D L Porter D Barling - resigned 11 June 2024 A Foster – resigned 10 September 2023 M J Betteridge Lt Cdr N Atkins J Whitmore - resigned 10 December 2024 J Dale – appointed 9 April 2024 F Dodson – appointed 9 April 2024 R Augoustie – appointed 9 April 2024 J Evans – appointed 9 April 2024 J Gibbs – appointed 11 June 2024 D Mynott – appointed 11 June 2024 J Glover – appointed 10 December 2024 B Miller - appointed 10 December 2024

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees in accordance with its constitution. In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for its effective administration.

None of the members of the Board of Trustees has any beneficial interest in the Charity. All of the members of the Board of Trustees are members of the Charity. They have no liability in the event of a winding up.

Page 4

Building Heroes Education Foundation

Trustees' report (continued) For the year ended 31 July 2024

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

Financial and Operational Control is exercised by the Chief Executive under fully delegated authority. The Chief Executive meets regularly informally with the Chairman of Trustees and periodically as per the Constitution with the Trustees.

Karen Jefford, was Chief Executive until December 2023 and following her resignation, BHEF founder, Brendan Williams, took over the helm whilst a new CEO was recruited.

In May the new Chief Executive was appointed, and Christopher Charles took up the post on 1st June 2024.

d. Policies adopted for the induction and training of Trustees

The Chief Executive briefs all new Trustees along with the Chairman of Trustees.

e. Pay policy for key management personnel

Remuneration for the Chief Executive is set by the Trustees, all other Senior staff remuneration is managed by the Chief Executive.

f. Related party relationships

The Charity has a revenue sharing agreement with BHPS covering revenues from Recruitment Services which can be generated from the BHPS customer base.

A loan was provided for initial start-up costs.

g. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

Building Heroes is active in multiple business development streams.

We continue to expand our established industry leading academy model, there continue to be several partners in the pipeline awaiting the best opportunity to present itself. We expect to open two new Academies in the next financial year, one focused on Plant and Streetworks and one on Green Skills, with two the year after focused on Green Skills.

Page 5

Building Heroes Education Foundatlon Trustees. report {continu8d For the year ended 31 July 2024 Statement of Trust888' re8pon8ibillties The Truslees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom AcGounting Standards (United Kingdom Génerally Accepted Accounting Practice). The law appllcable to charities in England & Wa18s requires the Trustees to pr8par8 financial statemants for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resourc8S and application of r8sourc8s, including its income and expenditure, for that period. In preparing these financial statements, the Trustee8 are required to: select suitable accounting policies and then apply tham consistently; observe the methods and principles of the Charities SORP (FRS 102)" make judgments and accounting estimates that are reasonable and prudent; 8tat8 wh8ther applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on th8 going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for k88ping adequate accounting records that arg sufficient to show and explain the Charills transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enabl8 them to &nsurg that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report8} R8gulations 2008 and the provisions of the Trust d89d. They are also respon8ible for safeguarding the assets of the Chaiity and heft￿ for tsking reasonable steps for the pr8V@ntion and del8ction of fraud and oth8r irr8gularitl8S. Approv d by order of the members of the board of Trustees and signed on their behalf by, RTU ker MBE FRSA CFILT FlnstLM Trustee Date.. Page 6

Building Heroes Education Foundation

Independent examiner's report For the year ended 31 July 2024

Independent examiner's report to the Trustees of Building Heroes Education Foundation ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 July 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 Reports) 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 28/5/2025

Lucy Hammond BSc FCA Kreston Reeves LLP

Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ

Page 7

Building Heroes Education Foundation

Statement of financial activities For the year ended 31 July 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
410,488
404,809
1,072
816,369
722,472
722,472
93,897
(100,851)
93,897
(6,954)		 Total
funds
2024
£
410,488
404,809
1,072
816,369
722,472
722,472
93,897
(100,851)
93,897
(6,954)		 Total
funds
2023
£
274,107
421,895
41
696,043
684,352
684,352
11,691
(112,542)
11,691
(100,851)

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 23 form part of these financial statements.

Page 8

Building Heroe8 Education Foundatlon Balance sh&8t As at 31 July 2024 2024 2023 Noto Flxed assets Tangible assets Investments 10 6.400 100 e,077 100 6,600 6,177 Current assets D8btors Cash at bank and in hand 12 18 88,503 71,642 91,501 97,325 160,145 188,826 Creditors.. amounts falling due within one year 13 (156,7421 {268,9971 N8t current assets I Ilabilltes 3A03 {80,171) Total assets less current liabiliti88 9,903 (73,994) Creditors- amounts falling due after more than one year 14 {16,857) {2e,857) Total net assets (6,954) (100,8511 Charity funds Restricted funds Unrestricted fund8 15 15 16,954) (100,851) Total funds (6,954) {100,851) The financial statements w8r6 approved and authorised for issue by the Trustees and signed on Iheir behaEf by.. R Tu¢k•r MBE FRSA CFILT FlnstLM Trust8e Date: The notes on pages 11 to 23 form part of th6se financial statements. Page 9

Building Heroes Education Foundation

Statement of cash flows For the year ended 31 July 2024

Note
Cash flows from operating activities
Net cash used in operating activities
17
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
18
The notes on pages 11 to 23 form part of these financial statements		 2024
£
44,933
1,072
(8,080)
(7,008)
(63,608)
(63,608)
(25,683)
97,325
71,642		 2023
£
144,271
41
(3,036)
(2,995)
(70,000)
(70,000)
71,276
26,049
97,325

Page 10

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

1. General information

Building Heroes Education Foundation is a charitable incorporated organisation established under its constitution dated 1 October 2014 and registered with the Charity Commission on 16 October 2014 and a registered charity number, 1158886.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Building Heroes Education Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in Sterling (£) and rounded to the nearest £1.

2.2 Going concern

These financial statements are prepared on the going concern basis. The Board of Trustees has a reasonable expectation that the Charity will continue in operational existence for the foreseeable future.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Page 11

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

2. Accounting policies (continued)

2.4 Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

2.7 Investments

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

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

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 12

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

2. Accounting policies (continued)

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.13 Fund accounting

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

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

3. Income from donations and legacies

Unrestricted
funds
2024
£
Donations
7,600
Grants
402,888
410,488
Unrestricted
funds
2023
£
Donations
13,894
Grants
260,213
274,107		 Total
funds
2024
£
7,600
402,888
410,488
Total
funds
2023
£
13,894
260,213
274,107

Page 13

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

4. Income from charitable activities

Unrestricted
funds
2024
£
Services provided under contract
273,249
Standard learning credits
131,560
404,809
Unrestricted
funds
2023
£
Services provided under contract
309,973
Standard learning credits
111,922
421,895		 Total
funds
2024
£
273,249
131,560
404,809
Total
funds
2023
£
309,973
111,922
421,895

5. Investment income

Unrestricted
funds
2024
£
Interest receivable
1,072
Unrestricted
funds
2023
£
Interest receivable
41		 Total
funds
2024
£
1,072
Total
funds
2023
£
41

Page 14

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

6. Analysis of expenditure by activities

Charitable Activities
Charitable Activities		 Activities
undertaken
directly
2024
£
722,472
As restated
Activities
undertaken
directly
2023
£
684,352		 Total
funds
2024
£
722,472
As restated
Total
funds
2023
£
684,352

Page 15

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Training projects
Advertising
Rent
Travel and subsistence
Telephone and internet
Computer costs
Insurance
Bank charges
Consultancy and professional costs
Other staff costs
Other office expenses
Miscellaneous costs
Other charitable expenditure
Vehicle contract leases
BHPS Commission
Bad debts written off
Sponsorship expenses
Penalties and Fines
Loss on asset disposal		 Total
funds
2024
£
463,599
7,472
47,422
29,733
21,796
32,443
6,306
5,270
7,640
3,205
49,182
2,941
2,019
1,094
3,299
17,408
20,000
1,298
-
60
285
722,472		 As restated
Total
funds
2023
£
418,034
7,507
90,905
16,922
19,881
16,283
7,467
7,972
5,361
3,224
29,902
115
1,705
9,745
1,660
7,938
17,083
16,667
5,440
130
411
684,352

Page 16

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £3,650 (2023 - £3,450). This fee is included within other professional costs.

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
432,440
25,199
5,960
463,599		 2023
£
380,996
31,090
5,948
418,034

During the year, a termination payment was made of £20,700 (2023: £Nil). This has been fully accounted for in the year.

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 18 25

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 - 1

The total employee benefits of the key management personnel of the charity were £102,480 (2023: £110,029) and employer pension contributions were £1,876 (2023: £2,047).

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 July 2024, expenses totalling £1,288 were reimbursed or paid directly to 1 Trustee (2023 - £NIL to Trustee) in relation to accommodation costs.

Page 17

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

10.
Tangible fixed assets
Cost or valuation
At 1 August 2023
Additions
Disposals
At 31 July 2024
Depreciation
At 1 August 2023
Charge for the year
On disposals
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023
11.
Fixed asset investments
Cost or valuation
At 1 August 2023
At 31 July 2024
Net book value
At 31 July 2024
At 31 July 2023		 Computer
and office
equipment
£
26,226
8,080
(2,513)
31,793
20,149
7,472
(2,228)
25,393
6,400
6,077
Investments
in
subsidiary
companies
£
100
100
100
100

Page 18

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

12. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
Creditors: Amounts falling due within one year
Bank loans
Other loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 August 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
22,280
34,604
31,619
88,503
2024
£
10,000
-
29,645
15,695
1,855
99,547
156,742
2024
£
44,631
70,191
(44,631)
70,191		 2023
£
31,847
48,992
10,662
91,501
2023
£
10,000
53,608
77,013
51,108
1,807
75,461
268,997
2023
£
53,750
44,631
(53,750)
44,631

13. Creditors: Amounts falling due within one year

Deferred income is in relation to sponsorship and accommodation income received in advance.

14. Creditors: Amounts falling due after more than one year

2024 2023
£ £
Bank loans 16,857 26,857

Page 19

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

15. Statement of funds

Statement of funds - current year
Balance at 1
August 2023
£
Unrestricted funds
General Funds
(100,851)
Statement of funds - prior year
Balance at
1 August
2022
£
Unrestricted funds
General Funds
(112,542)		 Income
£
816,369
Income
£
696,043		 Expenditure
£
Balance at
31 July 2024
£
(722,472)
(6,954)
Expenditure
£
Balance at
31 July 2023
£
(684,352)
(100,851)

16. Analysis of net assets between funds Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
6,400
Fixed asset investments
100
Current assets
160,145
Creditors due within one year
(173,599)
Total
(6,954)		 Total
funds
2024
£
6,400
100
160,145
(173,599)
(6,954)

Page 20

Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2023
£
6,077
100
188,826
(268,997)
(26,857)
(100,851)		 Total
funds
2023
£
6,077
100
188,826
(268,997)
(26,857)
(100,851)

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Increase/(decrease) in creditors
Increase in debtors
Loan written off as donated income
Net cash provided by operating activities
18.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2024
£
93,897
7,472
(1,072)
285
(58,647)
2,998
-
44,933
2024
£
71,642
71,642		 2023
£
11,691
7,507
(41)
411
79,813
54,890
(10,000)
144,271
2023
£
97,325
97,325

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Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

19. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year		 At 1 August
2023
£
97,325
(63,608)
(26,857)
6,860		 Cash flows
£
(25,683)
53,608
10,000
37,925		 At 31 July
2024
£
71,642
(10,000)
(16,857)
44,785

20. Operating lease commitments

At 31 July 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
21,000
40,000
61,000		 2023
£
20,000
61,000
81,000

21. Related party transactions

The charity has a 100% subsidiary company, Building Heroes Property Services Limited (BHPS). During the year the charity was charged commission of £20,000 from BHPS (2023: £27,083) for introduced Recruitment Services. The charity received income of £nil (2023: £nil) and incurred expenses of £8,082 (2023: £4,286) on behalf of BHPS. The charity paid a further £15,000 (2023: £15,000) to BHPS during the year as commission for recruitment services which has since been settled in 2024 once accrued commission was invoiced by BHPS. BHPS received income of £nil (2023: £nil) on behalf of the charity. At the year end the charity was owed £34,604 by BHPS (2023: £48,992).

At the end of the prior year the charity had an interest-free and unsecured loan outstanding to Brendan Williams, the acting CEO of Building Heroes Education Foundation and the CEO of BHPS of £53,608. At the end of the current year, the loan balance is £Nil, as the loan had been repaid in full.

There were no other related party transactions during the current or prior year.

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Building Heroes Education Foundation

Notes to the financial statements For the year ended 31 July 2024

22. Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

Name Company Principal activity Class of Holding
number shares
Building Heroes Property Services Ltd 12830457 Provision of property Ordinary 100%
maintenance shares
services
The financial results of the subsidiary for the year were:
Name Profit/(Loss) Net assets
for the year £
£
Building Heroes Property Services Ltd (7,760) (54,242)

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