Docusign Envelope ID.. B6916686-97F8451F-8304-8FE1 EOBA2F05 Company regisiraiion numbcr: 948382? Charity rcgislration nLinibcr'. 1160948 Foiiiidation t.or FiitiiL"eLondoii (A company lin)i¢cd by gUantee) Consoliddied Annual Report and Fin11 ncial Si4ilcmcnl lor Ihc Year Endcd 31 Murch 2024 Lucri1fi Hodgson & D£11ves LLP GiounLI Fluor 19 Nciv Rolid Briglitoii East Sussex BNI IUF
Docusign Envelope ID.. 86916686-97F8451 F-83D4-8FE1 EOBA2F05 Foundation for FutureLondon Contents Reference <1nd AdministrLltive Details 1102 Co-chairs, Report 3108 Trnsiees, Repo 9toll Siaiement of Tru8iees' Re%pon8ibililies 12 Indcpendeni Auditors. Report 131016 Con40lidaicd Siaien)cni of Financial AL¢ivilies 18 Consolidaied Balance Sheet 19 Balance Sheci 20 Consolidated Siiiien)enl uf Cash Flows 21 Sialeinenl of Ca4h F]oivs 22 Nolcs to tlic FinanLial Si:Ilciiiciil% 231043 Pri()r Pcriod SOFA
Docusign Envelope ID.. B6916686-97F8-451F-8304-8FE1 EOBA2FOS Foundation for FutureLondon Reference and Administrative Details Patron HRH Princes5 Royal Trustccs Mr Joseph Lyons Mr Colin Bailey (resigncd 31 March 2024) Ms Sarah Lockharl Mr Andreiv Adedipc Baroness Lola Young Sir Dthi'id Bell Ms Louis¢ Jeffr¢ys Charloiie Thoni8on Amy Shepherd Ms Un)ii)c Haliii)a Khanom (appoinicd 27 June 2023) R£lLI)el Crusslcy (resigned 5 Febr11Y 20241 Sophie Bcli gles Staff I clim Siifill) Nel%un, CEO Alice Devill. DircLlor of FLindr<iising 4liid Business D¢v¢lopn)cnl Giiy Ka%s(Iii&Tro, Hedd of FiniiiiLe Asl)lon MLIIIii)s. Grill)ls iincl Progrdninies ManagTer An)y Ziii));Irripii Soli%, Coiiiii)IiniLdlions M4111ag)er Rc).%y Aii'ii'iil, G(sI'crniillcc (2nd Ei'ent% Nlan£iger Adaii) J41}'e, Trlisls and Foundatioii% Miinag¢r Priiicipal ()Ilicc 14 L1sI Bdy Lane Qucen Eli/.dbcih Purk LoiJdoii E2113BS Th¢ ¢h'iriiy is in¢orpordied in En&vland and Wales. Pagc
Docusign Envelope ID". B6916686-97F8451F.83D4_8FE1EOBA2F05 Foundation for FutureLondon Reference and Administrative Details CompAny Registrlllion h'umber 9483822 Chority Registration Numbcr 1160948 Solicitors Russel Cooke Puliiey Hill Pulncy London SIV156AB Bllnkers C.Hoares & Co 37 Fleci Sircci London EC4P 4DQ Lucraft Hod&yson & Dail'es LLP GruLind Fluor l() Neiv Road Brigliloii Ei151 Si154ex Indepcndcnl Eyumlner BNI IUF Page 2
Docusign Envelope ID.. B6916686-97F8-451F-83D4-8FE1 EOBA2F05
Foundalion for FutureLondon
Co-chairs, Report
Slr Dai'ld Bell nnd B#rones5 Lola Youngi Co-chairs
April 2023 10 March 2024 has bcen unoiher dynamic year for Ihe Foundation for Future London, as our
orgaiiisation ha% floiiri8hed in faLililatin¥ opportunilie5 for people in our local coniniunitiC5 acros5 Halkney,
Nei¥,11iL 11), Toi¥'er Hiin)Icl%
Docusign Envelope ID.. B6916886-97F8451F-83D4-8FE1EOBA2F05
Foundation for FutureLondon
2023 stsw many changes here for us at the Folindation, Iviih many inspiring a¢hievemenl.%, including the groivth
of ihe ieum io include our new Trust and Foundalions Manli ger and our Govcrnancc <ind El'ents n)aJ)iL ger. both
of ii'hich arc ii'clLoJne additions to our team. I IN'as proiid to take over the CEO role li) November 2023 I11)d
oi¥ers¢e ihe launcl) of Ihc Foundaiion's neiv 2024-29 Siraiegy, with a slrengihcncd dcdicdlion lo our con)munily
boroughs of Nei4,ham, T0'tr Han)Ici%, Halkncy and Waltham Foresi and increased conimilmcnt lo the
stakcl)olders of East Bank and Queen Elizabeth Olympic Park.
Wc havc coi)lii)ued to dcvclop Olif UliiClLle niodcl of ini'cslment. fundraisiiig, fuiid gii'ing and cquilablc
placcmaLin&i actii'itie5. ensuring OLir repulation £1S a trLisled granl mli kcr conlinues lo groii,, and l ivas thrilled
that ihis, alon&T i¥'iih oihcr iniportiini fccdblick points w'crc asccrtJiiicd froni our 2023 stakel)oldcr IL nd Liscr
perccplion linalysis, all, being i'ilally in)portanl io inforn) our new slralegy.
Co-design and participalory engagcmenl undcrpin all our progromme designs, and this cdn be seen in our
OLilst2i n(ling i1cliici.ei?)enls in 2023, 110 n)ore so IhiL n iii tlie pilot prograinnlc of our firs¢ UK Ciiliiiral Exchangc
progr]le. Tl)is sai¥, 20 yOLiiig people froi)) E¢l81 Loi)don, sil ¥idc by side, tyaiii, co-d¢sign, nieiiiur, le[1, groiv
eiiticprcnciiridl pitLlics diid bLi%incsses iiiid. iiiiportaiiily. dci'clup loi)g-tcrtn fricnd%liips <iiid ii¢livorks iviili 15
oilier yoiiiig pcople ii'ith siniildr lind diffcrenl livcd cxpericiiLcs frutn Birniinghiiin, Prcston dnd Sherrield. The
joiinicy th411 ¢hc%c yoiiiig pcople and i)ur grli ssr()oi.s organisations ivho i¥'ere part ()r (he pro&Tfiinin)e w'cn(011 was
aii'c-iiispiringi li lid, in MdrLlI 2024, Ive i¥'cre ci'en n)ure pruLid Iu SLreeii d duLL1n)cnlY folloii'iiig ihis jouriiey.
We look r(Irward lo sceii)&' il'hai ihe seLond Culiure ExLhange Lohort ii'ill produce in 2024.
Oiir Empoi¥'cring Siifcr Spaces Ciinipaign launched early in 21124 and hils also been 61 key liigliliglil for Ihc
FoLiiidiltiuii. Nol oiily Iiilvc l¥'c dci'clopcd lind Icli rncd ii)ULlI froiii ihe first-liiiid researcli condLILicd i'i'i Fol%. bul
our iii-pcrsoii ci)niiiiLiiiiIy Lon41111&ilioi) li:1% rei'¢Jlcd coiiceri)%, ide
Dowsign Envelope ID". B6916686.97F8451F-83D4-8FE1EO8A2F05 Foundation for FutureLondon Westfield Eost Bank Creotive Futures Fund Throii&ih 20?3-2024, Ihc Wesificld Easl Bank CreatiN'e Fulurcs Fund (WEBCFF) ha5 coniinucd io grow, IN'iih truc Social impact noied ii'iihin Ihe eomniunilics. A8 alw'ays, (he Foundalion gil'e% immcnse appreeiation and thank5 to Olir core donor, Ivesifield Sir41tford City, for ils generous £10 million donation oi'er seilleral years, helping to creale oiper 30,000 n¢ii' jobs, learning. Iraiiiing, lind Cducaiional opportiinities lo bc poi¥'ered oi'¢r tl)¢ full five years of ilic progr]11)e. Thcse opporlunilics delii'ercd tlirougl) art, culiLirc, iiinol'atioii ai)d crcLl1iN'e pluceniaking. The progriimme continues lo hai'c a strong focus on the I'ibrani and dii'er5e people, grassroois orgdnisaiions, s1] cnicrpriscs ai)d comniunities (If Neii,hani, Toil'er Fldiiilci%, HaLKncy and Waliham Fore%t, i¥'iih ihc full programme conlinLiing lo aligi) Ivith Wesificld Siratford City's Bctler Places Siralegy 2030. Through tl)i5 period, Ive 5aiv flirilicr datJ and case 51udie5 provided by our Year 2 and 3 griinlees i¥,hilst Iso opening Ihc Yedr 4 conin)Linily fLlI)Iliiig 5lrand. Tlie progriinin)c progressed further, infortncd by regLilar eon%Lilialion and fec(IbacL Iruni OLir grill)Iccs. conimiinities and sliikcholders. Tl)i% yciif, H'c iil.%u dclii'crcd cin incrcdibly succegslul UK CiiliLiral Exchange prograninie. Wc a%%c%%ed iiiid a.rded I'iinding) i'lll oiir fir.%1 on)niuniiy-cmploycd gruiils panel, and li'e l¢iiinLhcd our Enipoi¥'cring Safcr Space cdnipaign. Highlights to Dale £4 ?13.687 IlircLI iiii'ebtiiiciit intu pr(IL)rJiiiinc4, LJP.'ILily building ld coii)iiiuiiity organisalioi)s 250 Loiiiiiiuiiily (IrgTillli%&ilioii% ill)dlor iiidii'iduiils fLiiidcd Oillcr 30,111)n enipl()>'i))enl, Icaniing, bu%inc.%% cnlrcprci)CLir and young pcoplc opporiiinilics provided 5,73.3 c)pp()rliinilie% pr(7vidcd Iliroii&711 Cilpiicily bLiildiiig iiiid capilcil inN'eslnicnt graiil 12,674 opp(>riuiiiiic% proi'idL'(l iliroiig'li Loi))InLlI)iiy progiraii)IllC gTiai)l% 711t/o ol gTrrill)lec% rcporled IliLy fcli il)Ly l)11d bciier aCLC%% iu liiruvcr iii%(Iiiilioii% und boroiigyl) coiinci15 Digiliil rc%ich of oi'cr 2,()22,69.5 6 Loiiin)Iinily coii%uli:Iiii)11 Llig; gcmenl opportiiiiilics Sl)orili%ied fi)r Cl)iiiily BLlSillC%% Aii'&ird%' BL%1 Mid-Terin Partner%l)ip E%ldblislicd a parlicipiilory gr41nl-giving Piincl, offcringTr IrJining, SLipporl dnd paynieni for Piiiiel mcnibcr iiii)c Tr'oundations Progrnnime As ¥i'e LoiiLlu(IL the fiii.ll year of ihc Foiiiid'itions Progr'ii1)nie, fiiiided by tl)c City of Lniid()i) Corpar:Ilic)ii IC(IL}, Ive reficcl on a Irill)4foriiiiilii'c jOLin)ey Ili'it Iiiis sigiiifiLiiiiily iiiip:Iclcd ilie crealii'e liuidscilpL of Eilst Loi)doii. Over Ilie pa%1 folir ye<irs, Ilic F()Lind'itioii for Fullire Lundon Iiiis Iiiiniesscd its pldiforii) and Pliblic cuinnii%sioiiii)gi opporliiiiilic% pioi'idcd by Ilic City of Loiidoi) Corporiilion Io 4idi.oL41(c fur ilic iillporlilllcc of FuEioii Skill% iiiid cl cfciilii'e Iciin)ii)g iigcndil cros5 EIL sl Loiicloi)'s broiid Cliliiirdl cco-s}'5tcii) sLI)ools, grass roots orgaiii5alioiisy riisls, corporale5 und liirgcr cul(Iii" In lolal, ovcr £8511k hJ% bccn cli%(ribiiic(I dirccily lo pre(Ic)minalcly grilss-roois cqiiiiy-lcd Eiisi London organi£'itions and individLiJls lo d¢lii'¢r inclLi%iie &lrt%, edLicalinn :Ind eniployment pn)gr'in)ming progr:In)mes and projclls ihrough four inlcr-Lvnnccled slrJiids'. Foiind1i lions.. Coniiectiiig Pcople 1( nd Pli1ces and Collabora(ii'e Commissions 2022 and 2023 (£42.f k) Cross Dis(rici P11 I'lnci'sliip Dei'clopiiieiil.. Coniinissions. Conipclitioiis ai)d Prizes1£135k) Easl Bank Collabordlii'c Pro¥rdniiiiing {L182kl Crc4l¢il'e Lcdniingi Sirdic&Ti¢ Partncisliips Dci'clopmen( and CapaLiiy Building {Ll12k) Looking Foris'ard Alihoiigh ihe F()und411ion's ycar ahcad 1% cxp¢¢icd io bc chall¢ngiingi ii¥j¢l) Ihc cconon)iL and lundrJi%ing ilin)dle becoining iJiore con%lricled, tlic leam is enihusiastic aboul the poienlicil opporllinilies, p.irticii1& ly ihose coming rroiii our SLiccesse5 I11)d cliiei'eiiiei)ts. Page 5
Docusign Envelope ID. B6916686.97F8A51F-83D4.8FE1EOBA2FOS
Foundation for FutureLondon
As our E&s( Bank partners opcn ci'cn more doors 4ind w'iih tt Kcy role, (he Eli St Bank Director, noii, in post,
ii'ill be ablc io dci'clop iniproi'cd and niorc delailcd stralcgiL reldlion5hips and 'ay5 of ii'orkin¥ ii'ith ihe
P1£ rlners willi ali official Memorandum of Understanding {MoU).
Closer working rclationsliips iviih our parlners ivill pol¢nlially cr¢(Ile evcn n)ore oppor¢unili¢s lor Ili¢
Foiindation. East Bank and suryounding commiinilies.
Wilh our neiv slratcgic fundraising p111)S Kind dcvclopmenl of oihcr i'itdl progrdmnics. Ive conliiiue lo bc drii'en
in our i'ision lo scc Easi London of coniiected. ccononiiLcilly ihTiving. crc£ilivc 4lnd diverse COmlliLlI)ilies
Ihroubih plans or..
FLlrtlicr flexible grilnl-gii'ing prograniiiies
Iniproi'cd capiiLily-builcliiig, frcel
Docu51gn Envelope ID." B6916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Who Ive Are Foundi21ion for Fulure London is an indcpcndcnl charity ii'iih .%traiegic foLUS on ans, culiurc, hcriiage and sport as a ci11iilysl for equitable rcgencralion for Ilie East London boroughs of Hiickney, Ncii'haTn, Toii'cr Hamlelg and Wal¢hani Forc5t. The Fuundation supporls luLal pcople anLI communitics 10 bcncfit from le<in)ing. ¢raiiiing and employtncnl Opportunities delii'cred by our fundrai8ing and grani-making operations. Esl.Iblished iii 2015, Ive iiork to connect local comn)Linilies w'ith tlie new East Bank and ils globally rcnow'ned art£. innoN'aiion and Cliliurdl p:Inners ai)d iviili Ilie coii)niLlI)ilies 411)d .%l:Ikel)Dlders of Ihc Qucei) EIILabcih OlyJnpic Park Kind surroLinding arcil. Wc aim lo ensiirc eciliilable opportiinilie4 dnd fdir regencration in E&%1 London, 1L lid li'e do thi5 ihroligh our gcnuinc con)niilnienl lu participatory &yranl-tn47king, innoi'illii'e capacity bliilding, and Ihc u%e ()[ iini(iue knoi¥'ledgTC, il)sighi lind ini'csimcnl niodels. We ain) lo be a cal11y51 for change Ihrou&h ihoubylit Icddcrsliip, lobbyin&Tr and inlluciiLC undertak'ings. Our NIodel Inc1115iv¢, Jcce5sible. agilc collJbordlii'c Siipporliiig eLononiiL dei'elopmcnt, IuLal cniployniei)t, iiicliisii'e plJLe% dnd Li)miiiunitieN Sirengihcning iner4hip.$ 14.iih Iocdl ()rgiini%illion8, con)ii)uiiiiics and E%lSI Bank Piinners Cliilll)pioiiin&y e£iLliility, inclii%ion, %uslaii)41ble dL%iieli)pii)cni and ilic ciii'irunnicnl A co-dcsign and pariiLipatory approiich Thi5 n)odel iilloivs the Foiindaiion io build a iii)illUC pproach lo con)miiiiily invcslni¢nl, ¢nsLiriiig Il)Ilt OLir ini'c)Ii'cn)Lnl goe% bcyond th¢ bJ%i¢ ifilll%¢i¢lioii of projeLt fuiidiiig, in%lciid neLes%iliiliiig loiigcr-lcrii) nclw'orks cxlrl Ii'r-Ip-:Ir()Iiiid 'iii(I loiiLicr-Icriii .%Lippurl, ii'liiLI) is ncedc(I by uiidcr-rcsoiirLed coininLiiiIIic%. WL d() Il)i4 by proi'idiiig flexible upplic4ilic)i) Jjid gFr'iiil 11):Illiigici?)eiil pr<iLlicc4. Mcill)i¥'liilc. olir CilP£lLI(y Bliildiiig Pri)&TfilllllllC LC)Iilii)ue.% lo bc a bcdroLL fur gruii'ih lind 5Li%laiiiiibiliiy for LLirrLI)I, pJ4lt iiiid fiiliirc grJiitces. Tlic progFrciniii)e hil% gonc froiii slTLiigili to slrcngili, providi11 a i¥'idc breii (lili i)r cl(Idilii)n¢il %kill% dnd Irainii)g opporlLiiiilic% Iliiii fccd diiccily ii)Io OLif SULi411 iii)Pd¢l 4111)ici'eniciit%. Alon&sjclc offcrii)bt l)c%p()kc oiiliiie Olir coii)mLlI)ilic% 10 (Ici'elop, gTfoiv Iiiid bcL(Iii)e sitsliiincible. Tl)is nicill)% IIICY 4irc in i? slroiiuvLf p()Sili0ii Io ¥CCLirc iniprove Slaff reiciilioi), expand prograi))nic dclii'cry lid conliniic lo dcvclop dnd slrengilicn their urganisdiivi)s. Our CilP¢lLily-biiil£liiiuv Iillii'ork ill)d pliiif()rni-riii%ing proi'idL .1 poriiil for s1i.1ring7 inforiii:Ilii)ii. bc%1 priicIiLe% i11)d ollJbi)r-Ili()i) opp()riiii)ilic%. One-lo-oiie kiLiid:Inccl Lnd <idi'iLC Iiill'c gi.0,n by 18.2rh, M'jil) 80C/6 of Il)c pcople %uppi)riLd idLlltifJ'iiig J% c()11)iiIL? fr()111 IliidLrrLI)rL%ei)Icd b:ILkgFroiiiid%. F.qU1ltyI Dii'crsitv And lnrlu5ion InLIIi%ioii 4iiid Ilii'crsiiy ilndcipii) dll (lie Founddliui)'s grill)l-In%iking and &)ji'ii)g dLlii'ilics. Our proLFr&llllll)C% &lilll io rciilh a r%inbYc ()f bLnLfici:Irics aiid ioiiiniiinili¢% in ILrni% of dei))ogFraphiLs, eiliiiiLily, age cll)d need. 4ilivays ensiiring ihal II'L nieet our inclusion ind dii'cr%ity pill1 r.%. Sustainability Our ivork io creLlle Sust7 illl£ ble dcvelopiiieiil in East London is diTccIIy £11igiied ii'i(h four ol. Ihe Uni(cd Nillic)n's Su%111 ill&iblc Dci'elopii)cni Gc7als ISDGI iiiid go(xl prdilicc Js folloii'%'. .SDC¥ 4 - Qu:ilit}' EduLalioii'. Eii.%ure iiiclu%ii'c aiid ciiuil4iblc ciiiali(y cducalioii di)d protnolc lifcloiig Icaming opportLlllitiC5 for 7111 Dl: 8 Dccciil Ivork Ecoiioniic Groii'th- Pron)oic inLlusii'e and susliiinable economic groii'th. eniployiiicnl and dcceiil li'ork fvr all SDI: IU - Rc(luLc(I Iiicqiialitic%'. RcduLc inequdlily Ii'iihin and among counlrics SDG I I Su%lainible and Incliisiir¢ Cilics.. M.ILe ciiies inclLlSlI'e, safe, resilienl and susl<iinable Page 7
Docv5ign Envelope ID.. B6916686-97F8451F-83D4-8FE1EOBA2F05
Foundation for FutureLondon
Vision
Throiigh oiir cro.ss-boiough ilioiking and uniqLlC ini'cslment and engagcmcnt model. Is'e ivant to see oiir East
London communitie5 Ctnpoii'cred iu bcconic rcsilieiit 4lnd tlirivii)g. dei'elopiiig prospcrous and sustainable
creatii'e and social ¢conon)ies. This i¥'ill be hLe1'ed thiough dLLe55 lo cquilable opportunilies and fair
regeneralion throughoui East London wilh dynamic and lifc-lhanging possibililies.
Llli55iOn
To bc ihe fir.%l-Lhoice orgianisation for servicing Ihc building of partncrships, funding progr<inimes, investinenl
slralegie5 41nd modcls of excellence; to improvc econotnic opporliinilics for our E£2St London coiiii))unilies.
To bc rccognised Ll thoLigl)t leadcr i¥'iih a uniquc modcl lor Lo-dcsign, parlicipaiory approaLhcs and
capacily-bliilding mcchanisms.
Olir fLindrcii4ing £1nil gr11 nt-giving 4iclivilies iN'ill iiuriiire inclusive IocLI1 cconoi))ies and will be built on oiir
Iiniiiuc Lu-desigjiicd parliLipalori' iiiodcl, dcep-ruolcd Lon)n)Iinily kiioii'lcdgc and iietivorks.
To coniicLI our Luii)i))Iiiiilic¥ dnLI .%laKLlI(IldLI'% in dnd JroLlI)d Ilic QLiceii Eli/.abcili OlyiiipiL Park aiid East Blink
lo the i¥'ider four bor(iii&Trli coii)niiiiiiiic% ill)Il uYriissroo(s orbiini%illions Ihill ii)kikc OLir boroiigTI)s uiii(iue.
()ur v]uC5
InLILisive
Colliiburiilii'e
Tnibicd
Auilicnlic
Jiiveslnient Prlnclples
41inic55 of Opporlunity
ELoi)oiiiiL IIiLlusivily liiid Suslaiiidbilily
Iiiclusion. Diiicrsily aiid EqiiJlily
StrAtcgic l)lan 2024-2029
Folloii'ii)g 41 del£iilcd pcrccplioi) 4liTrkcl)i)Idcr <ind Liscr 'in<il}'¥is Jiid siiri'eyii)gY, I¥'C 14'Lrc ilirillc(I In liiuiiih oiir IILIV
rive-)'eiir SiriilcgTiC Pliin lor 21124-911?lJ. Our core aiii)S Tclllaill ill ihc hciL rt ol ilie F()iiiiddiioii'i fiiliire. Thi5
cnsiires ih4lt li'e pliiy a criliccil rolc iii siipporiingF our Ea%1 Loi)don Loiiiii)Iiiiilies liiid Ilic L()11)IIILinilies diid
51akLlic)Idcr5 c)f Eil%t Blink dn(l Ilic Qiiicll Eliiiibc(Ii OlyiiipiL Pcirk, prui'iding flirihcr rcilLh, niciiningful
parlnLrsliips and Lollabvraiion%. Wc ii'ill do ihis by dei'cloping robii%t opcraliiig iliid fundrli isiiig plan5.
Along%idc our rcfrcslicd vision iiiid Ini55ion, our li'ork is guided by lour slraiegic priorilies-
l) Iiii'csting and Connectiiig - ensurc li'e expand our reach Ihr£)u&h strong fundraising an(1 lund-gil'ing pldns,
grc)11?ing clii'cr.%iÈy* iin(l i'isibilit}' IhroLigh slcu'ting prograniiiies, inilili lii'es nd coii)IllLIIIIL
Docusign Envelope ID.. B6916686-97F8451 F-83D4-8FE1 EOBA2F05 Foundation for FutureLondon Trustees, Report The TrLlStecs. ii'lio are Dircctors for tlie Plirposes of cotnpany laiv, present the Annu£11 Rcporl together ivith the rinanciai staletncnls of tl)e cliaritable conipany for tlie year ended 31 March 2024. Report of (he Tru51ees for ihe ycar cndcd 31st MCh 2024 The Trnsiees arc pleased to present iheir Annual Report ¢ogeiher ivith ihe financial slalemenis of ihe chariiy for Ihc period l April 2023 to 31 MarLh 2024. ThL5C arc also preparcd io mcei the rcquircnicnis for a Dirccior's Rcport and ALcoiiiii.4 for Con)panics Act piirposes. Th¢ Corporulc iiifonnalion on pag¢s I to 5 also fornis pth of this Trustecs, Reporl. The financial slaien)ents comply ii'iih ihc Charitie5 Aci 2011. (he Companies ALI 21X)6, Ihc Mcmorandum and Aniclcs of AssoLialic)n> (iiid ALcoiinliiig iiiid Reportin& by Charilics: Siaicnicni of RLcoini))ei)dcd PraLIiLc applici¢ blc io cliarilies prcpi1ring thcir accounls folloii'iiig ihe Financial Reporliiig S141ndilrd 1¢ ppliciible in Ihe UK and Republic of Irc147nd (FRS 102 elfeclive l January 2015). Tongil)le fi¥cd assets No langible fixed ass¢ls iverc h¢ld ils $1131 March 2024 (2022123: iionc). Inve5trnen¢ poi%ers and policy Thc Trusice%, hiiiiing re&iird lo the IiqLiidiiy rcquirenienls of opcruiln1 Ihe L'hurily, liavc kcpl uvuilablc funds in an iiiierc%l-bciiriiigi dcpo%il dLL'OLin(41nd seek io opiimise ils retum on operdlii)g fiinds ivhil81 ulii'ays foLu%iiig on Ihc %CLiirily of such fiindb. Rescri'cs Policy Olir r¢scrvcs ar¢ our nel ass¢lg 47nd al 31 m1} 21124, Olif Linreslricled fiiniis ivcrc £1,251,721131 M11 rLlI 2023.. £1,418,795). Tlic cl)iirily liolds rc%eTI'e% Io Clldblc il to SUPPOrt its ongoing Operations Ils it iinplcmenls ils fulLirc pldn4 aiid 41rdlegies lo dclii'er 114 cl)aritdblc objcctii'e5. Tlic £1.2.fjiii rcpreseiils coiisideriibly niorc 11111 n tlic ti2rgel Ici'el of reseri'es. As (he cliiirily's slr1i Icgy is to lucus on fiiiidi'ilisiligi iiul oiily for Ed.41 Biiiik bLlt for Tlic FoLlI)diiliun lo bcLoiiie a liirger, niorc iit)paciful Lhari(y iiiid our cxpcn(liiiirc Liirrcnily exLceds 0(Jr ii)Loiiic. Tl)i% 15 dclibcriilc, ilic%c plaiiiic(I dcficils Jlli)%i' us 1() jiii¥c%l iii fLiiidriiising groii'il) lu dii'eTbify lind groiv inLomc ii'iih a vici¥, (o brcak. ii)gi cillcn in ihc nicdiiini io longv Icrn), i,hilc Lon¢iniiin&t l() delii'cr .1 signifiLJni pr()&TrrJni in Egst London, niaiiii¢iining a fLIII rdiige ol I'ilal programmcs lo dLhiciJc OLir Ll)Iwiliible purposcb and sif%l(L&y. Ti)is ni.ijor ini'es(nici)l iii fiindrJisii)g groii'ili plli 11 is lo sce Tlie FoLiiid<ilion tri21isilioiiing froiii il.% prei'ioLIS rLindr:iising IiiodLI, iii ii,liicli the capital fuiidraisiiig iva5 rel£2ined for East Bank ilnd Ilic inconic fiindcd only capiliil granls, and iii ii'l)iLII OLif iii)PiicI M'ils n)udcst and Lould not increasc, lo d luiidraisiiig n)odel in ik'hi¢l) run(Irili5ing and iiii'c51n)en( iiicoine forms just one of a morc di1¥ Lrsc fiin&y¢ of incomc slrean)8 for progranis ,hiih, in lin)c, g¢neralc% niorc lunds %0 ii'c n)ake ¢i'en Inor¢ of a dilf¢r¢nce. The TrLi%ICCS LonsidLr li pnideni to hold rL4cri'cs higilicr ihan Ilic iarg)Li rangvL. li 1% eXLled thai ihc level of reseri'es iiill dccrLase over Ilic nexl li¥0 years tlic fii)ancial stralcgy beyoiid (lia( iiill forii) Pilrt ol Ihe new BLisine.4s Plan. Thc rcscn'es policy nd Iciel of IiiircslriLlcd re5eri'csi 1 rc rci'icii'ed by the Finiince and Audit Commiiiec beforc iilioii by (hc B()iird ol Tru%lcc%. Thc iiirrcni poliL J, is for Ihc Lhariiy io hold a lar&Yci ran&ie i)r rcscn'es 1)f not less 111111) 12 monihs of cxpcndi(Iirc oi'cr ihc short i¢Thi. The Board of Tru51ecs Loniiniies lo monitor Ihis area to ensure Ihal Ihc Ici'cl of rcscrvc5 align5 w'illi this policy. Rcstriclcd and De5igniÉ ted b unds Page 9
Docusign Envelopè ID". B6916686-97F8451F-83D4_8FE1 EOBA2FOS
Foundation for FutureLondon
Trustees, Report
The charily had reqiricled reserves of £61.66A at thc end of (his financial year12022-23.. £154,775)).
Th¢ Trustees ¢onsidcrcd li ptwdenl io designate funds for resiruciuring and iran5fomaiion dnd £150.1)00 ivds
designated fron) Linresiricled lund8 inio a rcsiruLiure and Iransformatioii lun(l. This fund remains dc5igiiiilcd at
31 Marcli 2024 iN'ill be &l1'1ilable for use in any reslru¢lurc or an$[Omi(1Ort activily arising from ihe
financidl stralcgy aiid business plan in th¢ fuiurc.
Subsldillry company
FFL hiis on¢ subsidiary, Fuliirc London EnieTprise% Lid, founLled on 3 OLlubcr 2015. li been dLliN'c durin
thc finJnLi11 yc.lr 21123-24 11% part of thc sucees%fiil funding lind donillion froni WSCIUR w for spons()r%hip fees
.Ind iiclii'ilics reliilcd to ¢i'cnl%, n)ark¢ling and coii)Inunici11ion. FLE haq 118 ow'n asse¢% lind liiibililiC% and ih
re(iuired Icgislalioii and dLlC diligence are obscrvcd nd &ldl)ered to.
Pluns for future period5 and going conceri)
Thc Co¥'id-19 Piindcii)iL 41nd Ll)%l-cif-liiiiigJ Lri5i% Iidi'c affeclcd fLlI)dTill%il)gJ aLr()ss Il)c iioii-profit 5eLlor illilt
rcdLILcd PLibliL sni)ncy tl)ai ]% ai'aildblc Iv tlic %cLlur. CunseqLicnily. ilie pace of phil<inthrDpiL di%Lu4SiOI)s has
sloivcd doii'n in 1¢ gcncral conicxi of increiise(l Lon)Pelilion.
We contiiiiie lo ni;InJgc oiir iiLiiVC pipclinc of funding pro%pcLl% aLro%s a variciy of relillioii%hip fiindraising
ii)coinc strei111i%, inLlu(ling Mid ¢ind Higili.IcvLI iiidividiials, Iru%ls und r()Iiiiddii()ns ill)d L()rp()riltc Jiid sliltiilory
P
DoSign Envelope10.' 86916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Trustees, Report SLipport for and pathivdys inlo.. skills dcvclopnienl., training and employmcnl; cnlrepreneurship- freclancclgig cconotny. Thc board has assessed ilic Lharily's abilily lo coiiliiiue a5 a going coiiLcni for Ihc forcsccablc fulurc. Ive hdi'e con%idLrcd d ii'idc .%pcLtrum of iniernal diid exicmal risk%, otKrationdl pluns, budgci%, findncidl forcca%ts including cash flo, and rcsen'c8. The boiwd 18 fully .saii8fied thli i Ihe charity is a going concern for ihe ii¢xi 12 monihs. 20-12-2024 Thc anni111 I report was approi'ed b}1 ihe iru8tces of the charity on...................... and signed on lis behalf by.. DOGU51Onod by.. 20BU&lkE4FAMFE............. Sir Divid B¢ll Tru4le¢ Pa&?e I I
Docusign Envelope ID. B6916886-97F8451F-83D44FEI EOBA2F05
Foundation for FutureLondon
Statement of Trustees, Responsibilities
The Iru%lce.s {Ivho &r¢ also Ilie dircciors ol FoundJlion lor FiiiiircLondon for the purpose.% ol compaiiy laiN') are
responsiblL for prep,qring ihe truqleLg' repori and the fin¢1ncial sialeinents in accordance ii'ith the Ui)iled
I&iigdoi?) Accolintiiig St&liid:Irds {Uniled Kiiigdoi)) Generally Accepted Accoiii)tiiTrg Prilclicc) and applicablc Idw
and regulalions.
Conipany laii, reqiiires Il)e Iruq¢ee.% io prLpare finaii¢i31 £111cnieiiiq for each finiiiciiil year. Under con)pJny Idlv
the IruslLCS nlust not approi'e Ilic fii)IL Iiciil stilleii)entS LinlLss Il)cy are Siltisficd Ilial they giN'e 11 IrLIC i1nd fiiir i'ieiv
of Ilic slate of alfiurs ol tl)c chariliiblc collip]Y lind of its inconiing resourccs aiid applicalion of rcsources,
inLliiding its inLotnc and cxpcndilurc. for (hat pcriud. In preparing ihe5e financial siatemen15, Ihe Iru%tees are
required 10-
sclect suiliible il ccoiinling policies ilnd IL pply Iliciii consislcnilyl
obqeri'c (lic n)cili()d% jiiid priiiciplc% in ilic Churilics SORP.,
Inake judgciiiciils lind csliiiiI1les IliJl £ire reJ5011iible lind prLI(Icnt'
slaic ivliLilicr ¢ippli¢abli UK AL¢ouiiiiiig SiJnd;Ird% liai'L b¢LI) follo,¢d, subjecl lo ai)y niaterial dcparturcs
disclogcd und cxpliiincd in ihc finilllcl411 sl;Il¢iiiLlli41 ¢iiid
prepare thc fii)1lncial slaien)cni% on ihc b>oing concern ba%is unless li is inapproprillc lo prcsun)¢ Ihdl th¢
Iidritablc Lon)pany will coniiniic in bu%iness.
The Irii%lecs arc re4ponsible for kecpiiigF :Ide(ILI:Ile ilCLOLiiiliiigF rcLord.% 111411 circ 4LiffiLieiii 10 sli()Il' iiiicl expliiin IliL
cliiiriliiblc conipillly's and di%LI(i%c ii'iili rcil%OI)Kible acLLifilLy ill ill)y liii)e il)e fin6inLial p()%iiion ()[ Ihe
Lliiiriliiblc Coliipilliy diid cnablc tl)cn) lo ciisiirL iliiii ilie fiii£inLiiil %liiieillciil% Luiiiply iviili Ihe Conipiiiiie% ALI
2U06. TIICY lire iil%u re%p()i)%iblc Ii)T %alegiiiiirdiiig Ilic (If ¢l)C Lhiiriiablc Li>i))Ilillly 411)d IiciiLC for lakiiig
rcil%()niiblc %lCP% r()r Ilie prci'ciiii()11 iiiid dLicc¢iI)ii of friiiid aiid i)Il)cr Irrc&iulItIc1 and io provid¢ in%iirJii¢¢ Iliat
Ihc cliiirily is opei'lilingi crrcLlii'cly and cfl Iciciiily-
il% 11sscls dr¢ %afcgiudrdcd dgaii)%t Lll)'ILiiliuri4cd Lise or diip()4iIiL)11:
prupcr rcL()rds iifL n141inliiincd lind ihal fiii4iiicial inlorniilion 114cd iviihin the ¢111(Y or for exleniiil
PLibliLaiioii is reliable;
thc cl)iiri(y coiiiplies ivith relci'illli laiv5 and re&Tulalions; and
.1 sysleni of el'fcctii'c govcriiilllcc ]% 111 place.
TIIC 5yslcii)s of iiitcriiiil coiilrol% arc dLsigiicd io proi'ide reasonable, biii not ub%oliilc, assiiriillcc %igainst miilcridl
iiiissliilcnicnl or10s%. Tlicy inLILide'.
In aiiiiii'il budgct approi'ed by Ilie bo:wd.
rcgLII:Ir r()rccisls (i) predici ilic likely OLilcoii)e for tlic fini2nci.Il yC£lr'
dclcgiilioii of du(liority Io 11)I111agcTb for cxpcii(lilLlle ii'iil)ii) bLidbTel liniils;
scgFrcgiilion of duties; and
idcniifiLaiioii uiid nidnaLycnicnl of risk.
T]ic triisl¢es ar¢ responsible for ilie n)iiiileiiLince and iiitegrily ol Ihe corporille £211d fini111ciiil iiifoniiii (ion
inLliid¢d on ¢lic Ch.]1.1b]L C()IiipJny'% ii'eb%ile. Lcg7j%l'ilion iii Ilic Unilcd Kingdoni govcriiiiig ilic prcpiwatioti
dis%ei)lill<ilioii of finaiici
DO(51gn Envelope ID.. B6916686-97F8451F-83D4-8FE1 EOBA2FOS Foundation for FutureLondon iaLcn all sieps thai helshc is obliged iu Idkc TIu51cc in order lo nidke Ihemselves aware of tu)y rclei'uni audil information and lo esiabli8h thai the audiior is aivare of ihat infomation. 20-12-2024 Approved by the truslees of the ch& Ity on . -and signed on its belialf by= Do¢uSlgnpd by.. "D2DBQgFE4FA1¢4FE:.:" Sir David Bcll Tntslee igc 13
Docusign Envelops ID". B6916686-97Fsl F-83D44FE1E08A2F05 Foundation for FutureLondon Independent Auditor's Report to the Members of Foundation for FutureLondoi) Opinion Wc haiic audiicd Ihc financial sldiemcnts of Found21 lion for FutureLondon (thc 'charilable parent conipi1ny') nd il.s .siibsidiari¢£ (the 'group ) for the year ended 31 March 2094, 11.hiLh comprisc ihe Consolidaied Siatetncn( of Fin'iiicial Aclii'ilies, Con%oli(liiicd Balancc Sheci, Bdldnce Shccl, Consoliddled Sidtciiiciil of Casli Fioii'.%, Staleinei)l of Ccish Floi¥'s dnd Not¢N 10 tl)c Finwicial Stal¢n)cni8, includiiig & %un)ii)ary of si&)nifieani IlCLOlllI(ing pu1iLic5. The financicil rcporlii)g frlL nicii'orL that has been <ipplied in Iheir prepiralion is United Kingdom AcLoiilliing ,Siand&wd%, comprising Ch.'Irilics SORP - FRS IU2 'Thc Fincinciill Rcportiiig Siii iidard appliLi blc in Ihe UK and Repiiblic of Ircliind, and dpplicablc laiv (Ui)ilcd Kii)gdoin Geiicrally Acccpled Accoiinliiig Pi'acticc). Thi5 fLporl is 1?iadc solcly lo tlic ch:Iril:Iblc parenl ¢oinp4llly'S Iriislces, as a body, in ¢iccordan¢c i¥'ith Cl)Jplcr 3 of Piirt 16 of Ihc Conipill)ies ALI 2006. Our ¢lLidit i¥'ork l)as bcen iind¢rlak¢n .50 Ihal ive niiglil slal¢ lo Ihe groiip's Irusiees Ihc)%c n)aticr% I.C are rciiiiircd lo sl21 le lo Il)eiii iii JLiditor's rcporl 4iiid for i)0 oilicr purpose. To ilie fullcst cxienl pcrniitteLI by IV, Ive do nol ilLccpI or d55unic Tcspuii%ibili(y lo ai)yonc oil)er Il)an Ilic Cli1111b]e parcni Colllpillly lind ils tru%tces £1 body, for Our dudil ii'ork, for thi% rcporl, ur for the opini0115 11'e hill'e formed. In our upinion Ilic finanLiiil sl4ileii)enLs'. ?iVC <1 Iriic liiid f.iir iJici¥' ()f Ilic %iiilc of (he group's and Piircni cliariiy's iiffairs us al 31 Marcl) 21124 aiid of ihc groLlP % fcsLili% lor ihe yc.lr tlicii elided., l)ai'c bL¢li properly prcpdred li) aLLordancc iviih Uiiiicd Kin¥dom Gcnerully Accep(cd Accoun¢ii)&i Prac(ice' Iiai'e been prcpi1rcd in il¢cord41nL¢ willi Ili¢ rcquir¢ii)¢nls of Ihc Conip;Ini¢5 Act 2006. Basls fi)r (Iplillun Wc L()Iidu¢l¢d our dudil iii ii¢LordilllLC i¥'iih Ii)Icniiili()ndl Sidi)ddrd% i)ii Aiiclilii)g {UK) (ISA% (UK)) ill)d 6ippIiciiblc laii,. O(Ir rc%p()n%ibiliiiC% iindcr ihc>%c ¥liindcirds Iirc I'iinlicr (Ic%Lribcd iii (lic ALidilc>r's re%pc)n%ibililics ror Ilic ilLidil of ilic fiiiilllcill141.ilcmeiil% scclion of Olir reporl. Ive lire indLpendcnl of ilie groiip in <iccorddl)ce FRC'% EIliiLiil Siaiid&ird £ll)d ii'c l)ill'e fuifillLd OLII. o(licr eiliiciil rc%poiisibililies iii accordaiiLe ii'iili Ihc%e reciuircn)ci)Is. We bclici'c Ili<il ihe iiudil ei'ideiice ive hili'c obiciined IS 5Lifficieiit £iiiil appropri<ile to proi'idc a basis for our opiiiioii. Coiiclusioiis re1491iiiR lo goliig L'oiicerii We 11i11'C nuiliiiig lo rcpoi'l iii rc%i)ecl uf tl)e folloM'ii)g tllli Ilers ii) relatioii lo w,hicli Ihe ISAS (UK) re(iuirc us to report lo yoii ii'hcre.. thc Inistees use of the goingv conLcrn basis of accounling in the preparation of Ihc finan¢i:il slaicmcnls is not .Ippropriale', or Ihc ir(1sice% hill'c nul Ilisclciscd in Il)c finanlicil %liiicnicni% dny idcnlificd malcriiil iii)ierliiinlic% Ihiil niay Lasl signific:11)I d()Iibi ibc)ul Ihc &Tf4)(IP'% ¢ibilil}' (o coniinuc Io %idopi ihc &TOili&Tr Lonicm b15 vf illLoiinling for a period of at l¢<i%l li¥'cli'c nionihs from ih¢ ddic ii'l)en the findn¢ial sia¢¢nicnis irc diiihorised for i%s11c. ()thcr inf(Irni<ilion Tlie IrLlStLes :Ire re%poiisible for Ilie ()tlJ¢r iiiforii)'Itii)ii. Tlie other iiifortiialioii Loiiipriscs IhL iiifoni)ati()ii ii1Lludcd in Ilie Linniial report, oih¢r Ihaii ihc finJn¢ial .%tdl¢incnlts and our Judili)r's rLPI)rl ihcrc()n. Oiir ()piiiion 01) Il)e rinancial slJlenienls does noi coi'er Ihc oih¢r inlomiaiion and, ¢x¢cp¢ (() ¢hc c.xlenl oih¢rii'ise expliciily sl¢iicd in our reporl. Ive do not express any forni of aSSLirance coiiclusion ihereon. Page 14
Docusign Envelope ID". B6916686-97F8451F-83D4-8FE1 EOBA2F05 Foundation for FutureLondon Independent Auditor's Report to the Members of Foundation for FutureLondon In coiineclioii lili our audit of Ili¢ financial sldicmcnls, our rcgponsibiliiy is io read the o¢licr infori))iilion and, in doing so, con%idcr ii,Iiciher ihc other infornidiion is n)alerially inconsisieni Iviih Ihc financial s(411enicnis or our ki)owledge obtained in the liudit or otlier4vise &1prS to be malerially i))isslclled. If ive ideiilify Slich niaterial inconsisleiicies or appireiil malerial ii)iss1iten)eiils, Ive are required to dLterininc i¥,lietl)er tlierc is 11)iilerial niissldlcniei)l in ihc finaiicial slaleiiienls or a nialerial n)isslalctnenl of Ilic oilicr inforiiilL lion. Ir. ba5cd on Èhc 'ork ii'c hdi'e pcrforn)ed. wc conLILide ihat il)ere is a malcriiil nii%sl4ltcn)ci)l of ihis other infornidlion. Ive requircd io reporl thai fact. Wc havc nothing lo report in ihis regard. Oplnlnn on other m<?tters prcscrlbed b), the Comp4?nles Act 2n06 Iii oiir opiiiioii, b:1sed on Ilic iiork iiiidiri:Ikeii in Il)c c()ur%c ol tl)C :ILidil: Ihe infornii11ion gii'en in the Trusiee.s' rcport Tru8lee8' Report for the finaiicial ycar for ii'hich ihc financial 51alemeiils ¢1re prcparcd is consislcnl ii'iih Ili¢ fii)iill¢ii11 sl411en)enls; and Ihc Truslee%' repori Co-Cliair5' ReportTrusiees' Report has been prepared in aL'corddnLe wilh dppliciiblc Icgal requiremcnls. IWl4llers f)ii iihicli i%'c are rcquired lo report bv eiceplion In (lic libilil of c)iir knoii,Ic(I&yc lind Lll)dLr4l¢iiidii)b of Ihe rOup ai)d ihe pareiii chariiablc Lonipiiny and ils cni'iroiimcnl obiaii)cd iii Ilie course of ihe dLidil. wc have Iiol idcnlified lli<ilcrial misslillcii)cnl.% li) the TrLlStecs' rcporl Wc li.ii.c noihii)g to report in re5pccI of the folloiving nialler5 w,hcre the Conipanies Act 2006 rcqLiires L15 to report lo yoii if. iii our opii)ioii'. Jdciiudic iicLoun¢in&v records have nol bccn kcpl by ihe parcnl L'hiirilJblc coinpiiny, or rcium% adc<iiiiiiC f()r our lliidil liai'c nol bccn rc¢cii'cd Ironi brunches nol vi8il¢d by us; or Ihc Plircnl chl1bIe Colllpillly finiinciiil slcltcinciils i)ol in £igrcen)cnt il'itli Il)e accoiinting reLord% lind rellirns; or erl.iin disLlI)siirc8 of Iriislccs rcniiincr;Ilion %pccified by laii, arc nol m'idc: or i'c hill'c nc)I reLcii'ed all ihc inforiiiali()l) Kinil expldniltion5 ive require for our dudii. Rcsponsil)ililies of trustecs As expliiiiicd niore fully in Clie Siaicmcnl of Tru%lec5' Rcspon8ibiliiics l%cl oui on Piigvc 121, Ihc iriislccs are r¢.spi)nsible f()r Ilic pr¢p'ir:Ilion of Ihc I'indn¢idl sl'ilenicnls ind for bcingF sdli%ficd Il):Il Ihey gvji'e d Iriic fiiir viei¥', Lind for .%llLh inl¢n);Il c()nlrol ihc Iru%lc¢s dclcrminc 1% ncce%S'Y tu en.lble th¢ preparalion of fin&incial s(aleiiicnts IliJl Jre frLC froni ii)iilcriJl Inisslalciiienl. i%,heiher diie to fraud or crror. In prepJringi ihc finJniiiil 4laicmcni%, Ihc Ini%lLc% urc re%pon%ible r()r a%%¢s%ing Ihc groiip'% and the parenl ch:Iri('Ible ¢on)p;In J. S iibility l() Loniinuc 41% a &T()in&J conccm, disc1()sin, 'Is appliLJblc, InJiicr% r¢la(ed t() goiiig coiicern and Ll%llILV Ilic goiiiL? coiicern basis of accouiitiiiL? Iiiiless ilie trlislees eitl)er inleiid io liiiuidate Ihc groiip or the pen1 c1111.1blc Luii)pwiy or lo ¢eas¢ opcralions, or have no reali%tiC &ilieniatii'e but lo do so. Aiidilor's rc5ponsibilitie5 for the nu(lit of the fin41nci<il sllltcnients Oiir objcLIii'e% iirc lo obiiii) reasoiiible J%surdl)ce 'iboLIt i¥,lieiher ihc financiLI1 slLltcn)enls as a ivhole 12re free froni n):Il¢rial n)i5slciiciiicnl, i¥,heih¢r di1¢ l() fraud ()r ¢rror, and to issu¢ an .ILidiior's r¢pt)ri ¢liai iiicludes our opiiiioii. ReJ%oii'ible ¢L%SLiratiLe is a liigli lei'el ol as£iir:iiice, bul 1% not a guir<intce Iliat an iiidil condiiLted in iccorddi)ce ii'iili ISA4 (UK) i%'ill lilivays detect a niiileriiil Inis4talcnicnl ii'hcii it cxisls. Mi%slil(cii)eiil4 Lilti iifi5e froiii Irciiid or error lid are considered niaterial il, ii)dividually or in ihe Iiggregale. they could reasonably be expeclcd to influence ihe econoii)ic decisions of users lakeii 011 Ilie basis of these fiiiancial 5taleineiits. Pagc 15
Docusign Envelope ID. B6916686-97F8451F-83D4-8FE1EOBA2F05
Foundation for FutureLondon
Independent Auditor's Report to the Members of Foundation for FutureLondon
Irrcsiularilies, inLludingF fraud, arc insianLes of non-LoinplianLc ii'itli laii's and Te&yulations. Ive dc5ign pruLedurcs
in line ii'iih our responsibilities, ouilined aboi'c, to dcieLt maierial missiatcmcnls in respeLi of itte&Yuliiiilie%,
including fraLid. The ¢xlenl lo i¥,hich our procedures are cap11 ble of deleciing irregulariiies, incliiding fr41ud is
detailed beloiv..
Wc cn5urcd ihai iliL cngd&ien)Lni tLam collcLliN'L'ly ha(5 (he dpprupriatc Lon)pLienLe, Ldpabililic% and skills 10
idenlify or recognise noii-coniplii111ce ii'itli applic%1ble IillV.% and regiilalions. The laii's 42nd regiilalioiis
applicable lo Ihc cli<Wiiy Ihroligh dis¢iissions lIh trustees and oihcr mai)Igeineni, aiid from oiir coiniiiercial
ioiNledgc and e.Kpcrieiicc of Ilic cliarilics. sector. Of ilicse laivs and regulations ive fociiscd on Il)ose ihiil li'e
Lonsidercd miiy hJi'c cl dircLI Inaleriiil elfecl on Ihc fiiianciil ¥l'ilcinei)t% or ilic opcrdlion% of ilie Llidrityi
inclliding ihc Ch.irities Comniissioii St
Docusign Envelope ID.. B6916686-97F8451F-83D4-8FE1 EOBA2F05 Foundation for FutureLondon Independent Auditor's Report to the Members of Foundation for FutureLondon Obiain suffiLiciil approprialc £iudil ei'idci)cc regarding the fiiiiinci<i1 informJlion of ilie eiilitics or busiiicss dLtii'ities 1¥'iihin ihe groiip lo express an opii)ion on ihc fininciLI1 slatcn)eiits. We &irc responsible for ilic dircclion, supcri'i8ion and pcrformdnce of thc group dudil. Wc rcmllin solely rcsponsiblc for our 4iudit opinion. We Loii)tnLiniLdlc iliih tho%e Lhiirged ii'i(Ii goi'cri)iince rcgLirding, aniong oilier tnatter4, Ihe pliiiincd scope <U)d iiniin&? of Ilie audit and siginilicilllt dudit IindingTS, including any significani dcficienLies ii) ii)Icrnal LOI)trol Ihal Ivc identify durin&1 our audil. Ther¢ arc inhcrcnl limiiations in oiir ¢iudil proccdures described ab()ve. The morc remoi'ed that liiW8 and regul&ilions are froin financi411 iransaciionq, the le.ss likcly il is ihiii ive i¥'ould beLoii)c aw'are ol non-con)plianLe. AudiliiigT Stand5 iilso liiiiit ilie iiiidil procedurcs rcqLiired to idei)lify i)oii-conipli1£ lice ii'iili lillvs nd regLII'Itioi)s to CllqLiiry of (he IrLi%less and oilicr niLl1)Jgeniciil dnd ihe inspeclioi) ol reguliilory and leglL I correspondence i¥'herL' present. MalL'riiil nii%slcilcniciil% iliilt iiri%c diic lu fraud Liin bc hlirdcr lu clcleLt th Ilio%c Ihilt ciri4c froni error as ihey may involvc dcliberale Lollce1i Inient or collusioii. A furihcr dcsLripiion of our rcsponsibililie% for ihc uudii of ihc financial %laien)ents is locaied on (he Fiii4inLial R¢poriing Council'8 ii'cbsile I Ivi¥'iv.frc.org.vklaudi(orsrc8ponsibililie8. This descripiion fom8 pan of our udilor's report. A% part of i1n audil iii dcLordli¢C i¥'iih ISAI (UKI, i¥'c Cxcrcisc profcssioi)al jiidgcincnl ilnd niJinl£lill profc%%ii)IiJl SLePtILitsin Iliri)Iigvlii)Lil Ilic 'iLidil. We <1140.. Coiiiiiiunicdle iilljil) Ilios¢ Lli:Irg?¢d ii'iili goi'eniaiice inLluding iiny %ignifiLilllt dcfiLieiicie% in inlcri)iil Loiilrol ihal ii'c idcnlify dLiriiig OLir audit. Thi¥ rcporl ig n)iiile solely ic) Il)e cliiiriliible con)paiiy'% Iru81ecSb 41 bo(ly, in accor(liiiice wilh Chi£ pter 3 of Pari 16 of (he Coiiipjnies Aci 21XI(I. OLif ciudil ii'oTk lia% bcci) 111)dcrliiken 50 (liat ii'c 11)ighi Stale lo Ilie Lh&U'iIy's IriiNILc% ilio%L I))Il¢lLf.s ii'c iirc reiiuircd io blillc li) Il)eii) in illl aLI(lilor's I'cport aiid for no oilicr PLirposc. Tu IhL conip1ny 'ind il% (riislccs d4 a body, for our 4iiidii ii'ork, for iliis rcpori, or for Ihc opii)ioi)% iiec h11 I'c fornicd. Ad'iiii H. .kic FCA C Arr Isciiior Stdliitorj, ALidili)r) For diid 01) belialfof Lv¢r'if¢ Hi)dg?soii & D41I¥'¢% LLP, SiJlulory Auditor Groiiiid Floor 19 Neiv Ruad Brigliluii East Subscx BNI IUF Page 17
Docusign Envelope ID.. B6916686-97F8-451F-83D4-8FE1E08A2F05 Foundation for FutureLondon Consolidated Statement of fi inancial Activities for the Year Ended 31 imarch 2024 ncluding Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses} Unrestricted runds R¢stricted ruiids Total 2024 Total 2U23 Nole liiconie And Eiidois'nienls from: Donillion8 and leuTa4 cie% Other Iradiiig £iLlii'itie% Invcsin)eni income 31,993 208,333 2,261,469 2,293,462 208,333 2,619,309 208,3.33 Total Income 2()2 761 2 261469 2 4118 Expcndilure on: Charitable 41elii'ilie% Raising fiind. Cosis of ir41ding dciii'ilies 120(),101) {22(),461) 121,273) (2,145,0.30) 12,354,131) {229,461) 121,2731 13,1186,6115) {234.284) I l (),()34} Total Expcnditur¢ 411 Ncl (¢X[1dllurC)1jIjCoinc 167 1174 116439 511635 49() 1()5 Ncl moi'cniciil in funds {1()7,1174) 116,439 (511,635) {496,195) Rccoiiclliailon of fun(Is Tuliil fLlI)cls broLlgTI)I forivard 14187()5 13()4 U211 I (1216 Toliil fLlI)ds ried fon¥'. 19 All ()r ih¢ gyrviip % uclii'ilies dcrii'c Irom coi)linuing opcrdli(>ns diirinb) Ihc aboi'c lil'o pcriod4. The funds brL4ikdoivn for 2023 is 5hoivn in iiole l(). Page 18
Docusign Envelope ID.. 86916686_97F8451 F.83D4-8FE1 EOBA2F05 Foundation for FutureLondon (Registration number: 9483822) Consolidated Balance Sheet as at 31 March 2024 2024 20 Notc Current a55els DLbiors ca.sh t bank and in hd 16 15 660,815 1916662 878,955 927 07 2,577.477 2,81K),462 Cre(lilors: Amounts flilllng due iilthln one yeAr 17 264 1192 1442 4411 Ncl ts&sets Fuiids of the Lyrnup: Rcstricled funds 61,()64 {54,775) Uiirestricted inconie tunds Ui)reslriLied liind% 1251721 1418 7()7 'I'olAI funds 19 T])e fi1141llLiJI sl&ilciiienl5 on pagycs 18 to 43 iverei lpproi'ed by (lie inisiees, and auihoriscd f()r i5411c on 20-12-2024 ¢ind.¥igiiied (Iii Ihcir bcli<iif by.. Docu8llln•d by.. 02UB8?PEIFMA*IE.::" Sir Dai'id Bell TrLi4Icc PagFC 19
Docusign Envelope ID.. B6g16686_97F51F_8304.8FEl EOBA2F05 Foundation for FutureLondon {Registration number: 9483822) Balance Sheet as at 31 March 2024 2024 2023 Notc Fixed ll55e15 Ini'csln)enls Curren¢ assets Debtors Casli ai bank and in liiind 16 15 666,340 11)14836 884,256 )?7 507 2.581.176 2,811,763 Crcdilors: Amouii15 fAlling due ii'ilhin one yoar 17 1267 792 Ncl currcnl a¢15 1313 384 1364019 Ncl etS Funds of tlic charily: Restricted fuiids 61,664 (54,775) Unrcstricleil inconic funils Unrc%lriLlcd lui)d 1,251.721 1,418,7(J5 Total funds 19 Thc fin'in¢iJl s111cii)enls on Pilgcs 18 to 43 ivcrc approvcd by ilie tnis(ees, and ciuII)orised for i%%ue on 20-12-2024 und %igFIlLd oil iIILir belidif by.. Do¢JS1onod by,. gif QAV4 4ts TrLi%lce Page 20
Docusign Envelope ID.. B6916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Consolidated Statement of Cash Floivs for the Year Ended 31 March 2024 2024 2023 Note Cush floiis from operating llctii'ilies Ncl C£1sh Iloivs from operating activiiies 21 (63.2801 (469,221) Cnsli floivs from ijivesting actii'ities Iiil¢resl receivabl¢ and 8imil4qr income Nct decrea5c in cash cash CqLliI'alcnls (IU,845) (452,455} Cash dnd C£15h eiiiiii'iilcnls dt l April 927 5U7 2 379 962 Cttsh and cash ciiuii',11cii15 at 31 ch All uf ihc Ciish noiv.4 arc dcrived Froni continliing operdlions diiriiig th¢ aboi'c livo rrI(xi$. Page 21
Docusign Envelope ID.. B6916686-97F8451F.83D4-8FE1EOBA2FOS Foundation for FutureLondon Statement of Cash FloN's for the Year Ended 31 March 2024 2024 2023 Note Cash floii's from operating actii'ities Net cash flows froni operilting 11 clii'ilies 21 (65.106) 1469,221) C0511 fl011'5 from ini'esting actii'itieS Inl¢rest receii'lible and Similar income ShoTI-lerm ini'e%lmcn(s 52,435 16,766 Ncl cash flO'S frum iiii'esting liclii'ilics 52.435 16.766 N¢1 dccrcasc in cash 41nd cash ciiiiii'alcnls (12.671) (452,455) Cash and cagh e(IUiViilcnl% ai l April Cash Jnd Cilsh ciiuivalenl% 41131 Mah 1927 507 2 379 ()6 All of Ilic Ciisll tIoi¥'% dcTivccI fiDii) Loiiliiiuing opcralioiis durii)g the 4iboi'e t,0 tKriods. Page 22
Docusign Envelope ID. B6916686-97F8451F-83D4-8FE1 EOBA2F05 Foundation for FuthreLondon Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The cliiirity is a charity liniitcd by giiaraiilcc and coi)scqiiciiily doc% n()I Iiai'c shC capital. Each of thc iriislees is liable io coniribu(c an aniouni noi cxcceding £1 ioivards the a8set% of ihc charity in ihe ci'eni of li4uiddiion. 2 Accounting tM)Iicics Suniniory of sl&Fnifictsnt theeounting policies key llccounting cstiniatQ5 Tlie principal accoLlI)ling poli¢i¢s iipplicd li) Ilic prcparaiioi) of ihc%c fin#ii¢ial si?1 icn)enls are sei out bcloiv. Tlics¢ poli¢ie% liai'¢ b¢¢n consisiciiily applicd lo all Ihc ycar.s prescnled, Iinless oihcrivi8e sialed. Staleniciit of conipllance ThL fiii;IJlLliil .%liiicnicnl% hai'c been prcpared in accordance iviih AccoLiniing and Reporting by Charitic%'. Siillciiicnl of Rccoinniend¢d Pri¢li¢¢ applicablc lo cli%iriii¢s prepIllg Ilicir d¢ioiinls in accordance iviih th¢ FiiiaiiLiiil Rcportii)g si.li1dd iipplic41ble li) Ilie UK dnd RLpiiblic i)f IrLliiiid IFRS 102) (LffLLllI'C l JilllU%lry 2015) - (Cliarilics SORP IFRS 111211, Ihc Fiii:IiiLial Repoi'liii&i Siandard &ippli¢ablc li) Ilic UK lind RcpubliL of lrel.iiid {FRS 11121 I1nd the Coii)paiii¢s A¢1 20116. Ilnsls of prepAriiilrJii Foiiiid'ilioi) for FLiliircLoiidoii i))ccl% Ilie Ilcfiiiili()11 of d PLibliL b¢i)cfil eiility uiider FRS 102. Asscls Lind accoLinling p(Ilicy i)otc%. Fuliirelui)Ilon Eiilcrpriscs Liii)ilLd IFLE), Laii)pJny iiiinibcr 11()8117CinC) ]% .1 prii.'dlc liniilcd conip:iii)' liiiiilcd by sh11 rc Ciipiliil illLorpor1i lcd iii Eiigland lind Wdlcs. Tl)C LOIIIP'UiJ S rcgislercd ofi'icc 15 11 1 14 East Bay Lanc, Qliccn EIiz&ibcili Piirk, Londoii, E2113BS. asis of consnlidalion The L(In%(Ili(liilccl fii)illlLiiil .%lil(eii)eiil% coi)%olidaie (he finiincial 4lalcii)enl.% of tlie Lliarily ai)d ils subsidiary undcrliikings Ilrclll'li lip (0 .3 l M11 rcli 21124. Nu %lalLiiieni or rin4111Liiil iiLlii'ilies 1% prc4cii(cd for Ihc chill'iiy pcrii)illcd by %CLlion 408 of il)e Coii)Pdnics ALI ?OU6. The Slibsidiiify lliiidc il PIDlIl ficr (ax for ihc fin]cIal yC4ir ol. Lnil.120?3.. £.7,403)
Docvsign Envelope ID. B6916686-97F8451F-83D4-8FE1EOBA2FOS
Foundation for FutureLondon
Notes to the Financial Statenients for the Year Ended 31 March 2024
A subsidiary is an cntily contiulled by ihe charity. Conlr()l ig achieiied ii'here the cl)arily lias the poiN'er to govem
the finanLial and upcrating polilics of an cntil)i $0 as io obtain benefits Ironi its 1clii'ilies.
The re%iil(s of .subsidiarie£ acquired or disposed ol diiring the yedr included in the sl
Docusign Envelope ID.. 86918686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 Doiialioiis aiid legacies Donations are recognised w,l)ci) Ihc charity has been iiolified in iiriling of boih the aniuunt and seiilctncnt dale. In ihe ei'enl (hal d dondticin is 4Libject lo Lun(lilions ihat rcquire a Ici'cl uf perfurnidnce by ihc Lhaiiiy bcforc (lie chiirily is enliilcd io Ihc funds, the inconic 1% dcfcrrcd and not rccogiiiscd Lintil cithcr (hose condilion4 are lully mcl, or the luifiln)en( ol tho.sc Londilions 18 ivholly ii'ithin Ihe conir()l of the charity and il ig prob.Ible Ilittl these condiiions ivill be fuifillcd in Ihe reporting pcriod. Legacy gills are re¢ognis¢d on a case by case basis folloiiing ihe granl of problLlc when the adtnii)islralor/cxecutor for (lie eslale has comniuniciltcd in ivriliiig botl) Il)c aiiioLinl ill)d seiileiiiei)I d<ilc. li) the ei'eiii ihdl (lie &?ift 14 iii ihe furni of an assel oiher ihdi) Lash or J finaiiLiJl as%Ct Iradcd un il reLusTIIi%L(l %luLk exLhcingTe, reLo&yi)jliun IS SLibjcLI lo the i'alue of (he gifi bcing rcliiibly nicd%uriible iviih d debyrec of Ica%oi)dble accuracy and ilie title io Ihe assci having been transferred lo Ihe charily. Foundaiion for FutLireLondon receive in kind ICT, HR, and fiicililic% services froin London LcgTraicy Developiiicnl Corporiilion {LLDC). On rcc¢ipt ilie don:Iled serilliccs lind f<icililies arc rcLogniscd ils inLott)e un the b.i%is of Ilic esliiii.lled iJilLie pri)i'idcd by tl)e donor. A corrc%poiiding iiiiiouiil is rcLogni%ed as cxpeiidiliire in ilie period of rcLeipl. li is difiiLiIII lu c%liii)'Itc i¥,l)eilier tl)e iilliuLiiII% con)pJriiblc ,1¢17 ii,lial ihe cliarily ii'OLild pa}, ii) tlie opeii n7ke1 lind Ihercforc Il)e cstiniJled value prDI'ided by LLDC is included ai ihe aniOLini calLulilted by Ilic proi'ider. Graiils receil'able Grill11% are rcLC)gyi)i¥cd ivlicii Ilie groiip IiJ% <11) cntiilciiicnl tu Ilie fLind% dnd iiny coi)dilioii% liiiked io ihc gTraiils l)ill'e becii iiicl. Ivlicrc pcrfi)nii:illLC coiidilioi)% allJLlicd lo Ilic g?r<inl Jiid lire ycl lo bc nicl, ilic ii)Lomc 1% Deferred iiicoipie InLOlI)c fcLCiI'ed iii advance is defcrred ui)lil Ilie Lrileria for inconie reLogi)ilioii Kire met. Doiiu¢ed,seriiice,s aiidfacili¢ie.w Wlierc seri'ices or l<lLilities <ire providLd io ihe cliarily a.s a doiiiilion tl)1I t IlOLild iioriiiiilly bc PLirclii& 4ed froiii OLir reiiliiibly nieil%LITcd, Ilieii ill ilic Lu%l lo Il)c cloiic)r ur Ihe resiilc i'iiliie ol gTO()d% il)iil lire ic) bc sold. liilere.wl receiipahle IiilerL%I 011 tlic fLllid% IILld (111 dcposil 1% iiicluded is'licii reLcii'ablL <iiid dlllOLiiII Clin bc niclisurcd relidbly by Il)e Lliiirily: Illi4 1% nc)Tniiilly upoi) nolificdlion of ilic iiilcrc%l Piiid or Pilyiiblc by Ilic billlk. Expenditiire All expendiliirc is recogi)i%ed oiice iliere is 1L Icg1c l or conslrlicliic obligLltioii to thcit cxpciicliliirc, ]( is prcibiible sciilcmciil 15 fcqLiired and ilic £1tiiouiit cai) bc tnca%urcd rcliiibly. Expcndilure ib classificd un(ler Ihc I'olloii'ing aclii'ity Iieii diiigs.. Cvs15 ul raising fiinds Lon)pri%c Ihc Lusls ol ILindrai%inb lind Ilicir rcldicd SLippor¢ and goi'cm;In¢¢ Lost. Elpcndiliirc on cliiiriliiblc ciclii'ilics incliidcs Ihc LC)Sl¥ of iuliiiriil iilld cduLalion%il pr(Igyrill))m¢% and oihcr aclii'ilies iin(Icili1keii lo ILirihcr Ilic purposcs of ilic iliarit}' di)(1 Il)cir rcliilc(I siipport Ji)d &TOI'¢rn-Ini¢ ci)st8. • Oiher oiic-off ¢os1s dirccily rclaic io ihc cs¢ablishni¢n¢ of ih¢ orgJi)i%aiion in i1¥ initial period aiid do iioi fall into ciiher of Ihc iiboi'c hcil(linbTS or gTOI'erniinie cosis. Goi'erii.Ince costs conipri%e of Trustees expeiises, legal and accolintancylic udit service cost5. AII c051s directly ilttriblltiible to chill'iliible IL Ctivilies lind LOSI ur rui)di'&iisiiig arc alloLd(cd diicctly. Suppoti cusls arc apporiioncd according lo Ihc pcrcciilagc ol stall. ios(5 lor cach aLlii'itJ'. Pagc 25
Doousign Envelope ID.. B6916686-97F8451 F-83D44FE1EO8A2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 Support cosls Support L05ts include functions thal a55iSt the work of the charity but do not direcily relate lo either charitablc or fundraising actii'ities. Suppori c0515 include ofl'iLe c05ls. finance, HR, payroll, Icr oihcr c05ls ii'hiLh supporl (he cliaritie8 aeiii'ilies. Support cosis hai'e been dllocated ba5cd on thc pcrccnlagc of stuff Costs incurred for cliirii4ible 411)d fundraising aciii'ilies. Taxailon Thc Charily is con%idcrcd io pa%5 ihL' IC%ts Sct out in Pard&Trraph I SLliediile 6 of ihc FinanLc ALt 21110 and Ihercfore il tncet% ihe dcfinilion ol il charildblc ¢on)pJny for UK c()rp()r%ili()n 141X purposc%. Accordiiigly, tlie ch:Irily is polenliall}' excnipt froiii 1IX¢iiion in r¢£p¢il of incon)e or c1pilq¢ I gains rcceii'ed I111)111 c:IleL)orics Lovcred by Chiiplcr 3 P4irt I l of ihc Corpor21 tioii Tilx Act 2010 or Scclioi) 256 of Ilic T&lX<ltion of C]ige1£ ble Guin5 Aci 1992, 10 the exlcnt that SLILh inconie or guins arc applicd cxLlusivcly lo cli11b]e purposes. The siibgidiary, Fuiureli)nilon Ei)ierprises (FLE} 1% a prii'atc con)pany lin)iicd by shc8 and is subjeci io corpordiion lax in aLcordunce iviih (he Corporalion Tax ALt 2010. T4ngible fixcd n55c15 Fuiiiidiltii)i) fur FILILireLoiidon ai)d FLiiureli)ndoi) Enierprises Lin)ited hthve no ia]igible fixed Ssets.. lJusine55 con1binlInS Bu%iiics% ci)nibiiiJlioii% aLL()Iiiiled fi)r Liiidcr ilie piircliilsc 11)eihod. Wlicre Iic¢¢%s:Iry, ddjLisliiiciil% £ire ni<idc Ii) groLlP. All iiilril-giioup Ird1l4acliuii%, bdl:1ilCC%, iIICOII)C iuid cxpciise% are cliiiiiiialcd 011 Lon4()lidiilioi). In aLLordill)cc ii'iih Seclioii 35 ()r FRS 1112, ScLlion 19 of FRS 1112 lids Iiul bceii applicd in Ihe%e financial Slaieii)ci)l% in respcL't of business Loinbiniilions erreclcd prior lo tl)e dale of Iraiisilion. Fixed llfjsel invo51mciits Fixed 11 55cI ini'cslmciils, oilier Illi211 progr111}e related iiii'eslmci)Is, arc iiicliided al illdrket I'£11iic al the balance shcei diltc. Rciili%cd jljli4 and l(14%c% uii invc%lii)ciil% arc LiilLLildlLd ilie diifciciicL betll'ccl) S<iles piucecd% Iiiid il)cir miirkLI I'iiliic at Il)e %liirl of Ilic }'ecir, ur Il)cii %ubscciLlCI)( Losl, ai)d arc cliargcd or crcdilcd (o Ilic Sidieii)ci)I ol Fii)41niiiil Aclii'ilics iii Ihc pcriocl of diSPOS1I1. Unrc:Iliscd gdin% and Iossc4 reprcsciil ihc moi'Lmcnl in m'irkcl i'Jliic£ diirin& Ihc year and ar¢ crcdil¢d or ¢h:IrL7cd li) the Si'ilenicnl ()[ Finill)c i'll A¢lil'l(ic% bJ%ed (Iii ihl nitsrkcl I'iilul d( Il)C yciir cnd. TrAde Ilebtor5 Trade and oilier dLbtors ire rccogniscd ill ilic settlci))enl iiiiouni dlle after any trade di%count orrered. Prepaynicnlb arc i'alucd ai ihc aniount prcpaid nci ol dny irdde diSLouiIIs duc. Cksli and cll5h cquivalents Ca%h aiid ca%1) Cqllll"¢ilcnis conipribc ca.%h in l)dnd, includ¢ hi&Jl)ly liquid ini'cslnicnls iilljth u %horl malurily OF tlirec m()nihs or less Irom ihe date ol dcqiii£i(ionor opening of Ihc dcpo%il or d %iniil¢if dccounl. Short-tcrm ini'c5tments Sliori-lerni ini'esimenis includ¢ inslrum¢nis i¥'iih a malurily of six lo liveli'e months from ihe dale of acquisition or opcning of the dcp05il or a 5iniilar accoLlnl. Page 26
Docusign Envelope ID. B6916686-97F8451 F-83D4.8FE1 EO8A2F05 Foundation for FutureLondon Notes to the Financial Stalen]ents for the Year Ended 31 March 2024 Trade creditors Trlide Lrcdilor5 are obligalions to pay for goods or services that hai'e been acquired in Ilie ordinary course of business from suppliers. Accounis pdyable arc classificd d5 curreni liabililics if ihe Lharity does noi lidi'e an unLonditional ri&Ylii, al Ilic end ol thc rcporling pcriod, ¢0 dcfer sctileinent of the crcdiior for at Icd%l lii'cli'e monilis after Ilic rcporling dale. If iherL iq an iincoiidiiion¢11 righi lo dcler seiileineiil for q¢ I leisi ti¥'eli'c iiioiiil)s after ilie reporting d£11c. they are preseiited a5 non-currei)I IiLlbililics. Creditors and proi'i%iun% are recognised at iheir sciilen)cnl aniount after alloiving for any tyadc disLounis due. Tr uild struclurc UnresiriLied inL(Iiiic fund% lire general fLind% Ihat arc aN'aildblc for use ai ihe iruslee8's disLrction in fiiriherance of (he objcLtii'c.% of il)c gr()Iip. Rc5lricled iiicoii)c fLlli(l% arc those donalcd for usc in a parlicLilar arca or for spccific purposes, Ilic usc of ii'liieh 14 rcslriLlcd to Ilial Iirca or piirposc. Penslons aiid otlier post retlremenl obligthlions Folind'ilion for FiilLircLondon l)ilS Li defii)cd coiilriliiili()ii pci)%iOli 4Lliciiic i¥'iili Ro}'iil Loiid()ii Ili:Il Loniii)cnLed opcriilioiis on Ilic l July 201 (). Foiiiidiilioi) fi)r FulLireLoiidc)i) c()i)Iribiilcs 5Ck, of caLlI ciiipl()ycc's gro%% %alary tol5'<ird% ihc pei)%ion SLlicii)c. Oiil%liiiidiiig pen¥ion L()Iili'ibiilioii% al Ilic biil:UlLC %hcLI cliilc arc iiiclLidLd iii redilor5. iiiei1SLired di ilicir %ciileiiici)1 i'iilLlC i¥'iili Ilic cxccpliun of coiiccssioniiry lo)$ ,111Cl) drc subseqLieiiily meiisured at <iniortised LOSI iisiiig Ilic errcctive intcrcsl nieihod. FuiiirelDn(lon Enicrpri%es Liniiied only has finclnciiil in%irumeni% ii'hiih ii'ould meet ihe dcl'iniiion of bdsiL 3 Iiieonie from don11 Ilons llnd legi< CICS Unreslrlcted run(15 Reslricled fund5 'rolal 2024 Tolnl 2023 iencrnl Doii<ilions 2,IllXI 2,.579,418 37,891 2,261,469 2,261,461) 31,99.3 Dondlcd scri'iles and facililieq 31 (J93 Paue 27
Docusign Envelope ID.. 86916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 4 Ineonie from other trading acliyilies Unrcslricted funds Total 2024 General 2023 Sponsorship inconi¢ 2118.333 2118.333 208,333 5 InYc5tm¢nt income Unrestriclcd funds 'rotal 2024 Totnl 2023 (Tener&l Inlerc%l re¢¢iv¢ible llnd siii)il<ir inci)iii¢', Ii)lere%l rcceii'ablc oli baiik dcposils 6 b xpeiidilurc on cliurilnble aclivilies Unreslrlcled fuii(Is Ilcslrlctcd I'unds 'I'ntnl 21124 'rolal 2112.1 ProjLCt grlinls Prt)jciI dilil'cry Los15 Project m1£ lliigcii)eiit ProjcLI ci'aluaiion Support and Gov'iice ,771.9511 2,533 47,595 55,568 267,384 ,771 LJ50 2,533 47,595 55,568 476,485 2,547,451 21,5C)8 11,123 59.210 447,333 209,101 2024 Unrestricled 21124 Rc51ricted 2024 2023 SalLlfic5. Ivagc% and rellL ted co.s1.5 Gcneral oflilc coslN Goi'ei'iiaiicc cosls FrcclJnc¢ ¢051 Donalioi)% in kiiid 147,304 37,IH4 24,753 213,786 361,090 37.044 24,765 53,586 .324,024 12 53,586 4tl,()45 38.882 £20CJ.IUI (20?3 £216,812) of Ilie IL boi'e expendiliire a(Iribiitablc to iinrcslriclcd ILincls dnd £2,145,0.30 (2023 £2,861),873) lo rcstrictcd fLinds. All support costs arc ullocalcd bdScd on (he pcrccniagc ul ioidl siaIT C051s for fuiidraisiiig aiid Lhiwiliiblc aitii'ily. Page 28
Docusign Envelope ID.. B6916686-97F8451 F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 7 Expenditure on raising funds a) An411)'sis of costs on ralslng funds Cost of raislng funds Total 2024 Cost of ralslng funds Other costs 2023 saIleS, and reldtLd 160,826 16n,826 169,602 169,602 General orrice costs 18.OCJ8 18,098 24,690 24,690 Frecli11lCe 4uid coi)%uliancy 24,489 24,489 1,5L)2 ,5()2 Projecl clelivery 5,()36 5,()36 Support goi'crn4inLc 2C),048 26,048 20,259 20,259 Doi)aiion in kind 12,5U4 12,-$114 ?{ b) C'osts of trlldlng acliiilics Unrcslricle(I fuJid5 General 21124 21123 Nole Tradiiig sub%idiary co%ls 19()14 Pagc 29
Dsign Envelope ID.. B6916686.97F8451F.83D4_8FE1EOBA2F05
Foundation for FutureLondon
Notes to the Financial Statements for the Year Ended 31 Marcli 2024
8 Grthnt-niaklng
Anal)'sis of grAnts
7ranls to ill51ilutions
2U24
21)23
Analv5iS
Wesificld Siriltford City
Cily ol Loiidon
GcnLrdl
1,767,950
2,296,016
251,435
The %LlPP()ri c()%ls as%oci6ilcd iviih grunl-n)4iking Lir¢ £373.080 131 M&ifLh 2023 £.322,4221. Morc dcluil is
proi'idcd ii) nolc 6.
Wcsificld Slrdiford Cily
CupaLiiy buildiii&y FFL'S Irce provisioi) lo J¢ce44 11 Cdpilcity BLiiliiiiig Progran)ii)e Iliili proi'idc% il)c bcdruck for
ruikil) an(1 SLi%idiniibilily lor both ciirr¢nl, pasl, aiid fiitLire granlccs. See Pdge 15 in ihc Tr1151cc Reporl.
CrLaiive Fuliircs Thc L()ii)iiiviiily slrai)d of il)e Wc41field Eclst Bai)L Crc4l(ii'e Fuiurc8 Fund. Thc ¢oiiin)ui)ily
sifiind'4 niiiin purpi)%L 1% lo cr¢¢ilc illLILl%iI'e lind %ii%lililliiblc oppui'lLiiiilic% for il)e indii'idii%il%, &vrJ.%4 ri)ol
orgF:Iiij%ilj()ns )d coiiiiiiiinilie% 11,liolc ii'iiliiii ihc f()Iir bi)r()Ii&Jli% ihai iiiikilibuiir E
Docusign Envelope ID.. 86916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 Capil411 Gr($ are for activilic5 Ihal cover the folloiving.. o A building projecl as defined by any lype of capiial ii'ork (hai is required lo comply iviih slatuiory approvals sucli as buildiiig or planning regulalions and you must dcmonstraie securiiy of tenurc and all stalulory ppfovl£ Is hai'c bccn applied for. o Tlie RIBA Pliii of Work organises il)e process of briefing, desigiiing. conslnjcling dnd upcriilinb building projects ii)to cighi slages <ind expliiins tl)e stage oulcoii)cs. corc lask% dnd iiifum)alion CXLli%ingL's rLquircd at eacl) slagc. If yoii are follo.11]g ihc RIBA desigi) sldge%. your projeLI n)usi bc dLI'cloped io di ILa%i RIBA Illork Stagc 3. o Small orgdni8ation% do not need lo adlicrc to RIBA bui ivill be asked lo produce plans th11 i have susldinable development goals. o Buying us%ci% SilLh 11% lurnilvre, ciiuipni¢nl, inslruni¢nls tind i'ehicles, 'ierC Il)ese ivill supporl Ihe delivery of acliviiies Ili¢il conlribul¢ tolvdS OLIILonies listcd wiil)in tl)is guide. o In)proving exi%(ing f4icilitie$ 10 enhance aeccssibility. o BLiildii)g w'ork io improi'e an exi%iiiig Loinmuniiyl culiiirul building, o Ii)%lJllinbi ncii, Icchnologicg and iipgriiding buildings lo lacililJlc Jctivilics Ilial ivill delii'cr oil OLIILome% li%(cd wiil)in iliis gLiide. PiirLhi?4ing or d¢i'¢loping n)<iiiJgciiient Systenis lo enhance engiigcincnt lind c)rgani%aiional &yroi¥'ih lor aciii'iiics Ihil ii'ill dclii'¢r on oiil¢unies li%(ed iviiliin this gLiide. o Eiivironni¢nlJl %Li%laindbilily co%1% inLILiding inslallii)g or rclrofilliiig SLi%ldilliible ieLhnolc)gieb or upg?ra(ling exisling building fabric. o Profe%sioiial fees (Ihai do not CXLccd 65f/o of Ihc rcqu¢bl¢d funding) assoLidled ivi(Ii capi111 I spending on your projcLI, proi'ided Ihe clPPUiI)Inieni% hai'c bccn ii);ILlc in dLcord:illLe iviih n)ecliiig oulLoii)es lislcd ivitliiii ihis guidc, for ex11 Iiiplc Li%ing Iociil or iieiv Siiiri up %upplicrs und cc)nlru¢lors. Neil, plilLeniakin&y Loiiin)unily iiifrilSiriiiliire inslallJlioii% sucl) as sigiidge. COllilllLinily sensory giirdeiis, cnijironnienial or suslain4ibl¢ r¢%ourccs el¢. o InLlud¢ projccls iliat needcd addilioi)al Pilcity buildiiig SLIPPOTI siich 415 orgai)iSillional dci'clopincnl. Employc2bilily/Cul(urc cxcl)ang¢'. Thc LuliurJl cx¢hdngTrc prog?ranii?)e li<iS been dcvised agiiiiisl the 'lei'clliiig lip, backilrop cind is an innoill Jijk'e UK-ii'ide cxch,.In&?e prograninie. Tlie <iin) of the PTogrilll)mc is lo coiinccl yOLllig peuple iifis, Luliiiral and ii)noi'dlioii org'ii)is:iiion% and L()InniLinities <icros% Eilst Loiidoi) cl1)d oilicr UK cilies, using crcativc 41nd inclu%ii'e pla¢Lmakiiig) a Ic'in)ii)g lool. Scc pagL 13 iii Ilic Truslces Rcport. Page 31
Docusign Envelope ID.. B6916686-97F8451 F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 New Talcnt.. Neiv Talcnt Fuiure Leaders, prOgr7C aiTns to connect local people from diverse comniunities £1nd those und¢r-r¢prc%cnied in ihc i¥'orLforLc lo Ihc cii)ploynicnl. education and busiiiess opporlunilics gciicraled froii) Ilie groi4'11i d¢lii'crcd by Ea%i Bank. Tliesc opporiunitics 1¥'ill cnicrgie in ihc hi&Thcr LduLatiOll SCLtor dnd ihe Lultiirdl, cre411ive, fashion ¢ind Icclinology indiislrie8. The projcL¢ coninienLed in April 211? l. Sce pa&?e 14 in ihc Trusiecs reporl. City of London Connccling Pcoplc und Place5 (CP&P) Fund sUPPOrts Eusi London pthncrs 10 dcliN'er inclusii'e drt5, eduLalion and ciiiploynici)I pr()uvraniinii)g and crcdiii'c pldL'cn)aking, focusing on Fusion Skill%, pdrlner%hip dei'elopmeni and capacity building. See Piqgc 7 in ihe Tru%iee% Reporl. CollJburiilii'c piogr<iiiimc is d Coiiiii)i%sion lo fuiid a s11)Jll¢r col)ori of Lo1141bor¢ilii'c-foLiiscd lrculivc leaming prujeLt5 as parl of CP&P. Sce Page 7 in the Tru%lce5 Report. Ea81 Bank Partnership Provisi()n of fiii)dingy for i'arii)U% Lolliiborillii'e projcLl% ivi(h the Ei14t Bank Piiflners. all of ivl)ich hi1ve d foLLIS on yoiiih ir*iiniiig .11)d ciiiployiiiciil oppor(unilic8. Page 32
Docusign Envelope ID.. B6916686-97F8451F-83D4-8FE1 EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 fvlarch 2024 9 Net Incomlngloulgolng resources Nel incon)inglout&)oing resoufLe5 for ihe year include: 2024 20 Cyroup Siaff pcnsions Trustee expenses Audii fces Legal aiid profe55ional fees 24,532 791 34,610 3,450 17,403 602 42,110 2,448 Ncl inLoniingloLilgToing resourLCS for the year inLILidc: 2024 20 Clinrity Siiirr pension5 TN%iees expenses Aiidil fccs Le[ i111d pn)fc55ioniil fee% 24,532 7()1 3111)60 17,403 ()02 38,IMIII 2,448 3,4511 Page 33
Docusign Envelope ID.. B6916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 imarch 2024 10 Staff costs The uggregdie payroll eosls wcre as follow's= 2024 2023 Stnff costs durlng ihe )'eAr iiere: Wagcs and 8aldriLs SoLiLI1 scLurity costs Pension cosls Oil)er st&lff c0515 Fr¢clance 451,687 44,237 24,532 396,(A7 40,965 17,403 2811 Tlic iiui?)bcr of cii)ployce.s i¥,hose einolunicnis fell iviihin Ihe folloi¥'inbi blind% ivas.. 21124 £60,IK)1- £70,(x)o £70.(x) i - £igii,(x)o £811,(Xl l £()11,(xio £911,IX) i £ Iixi,oon £130,001- £140,000 £140,110] £150,1100 £150,110] £1611,IIIK) £160,UO I £170,0(Jo TIIC Lliiirity TrL14tccs ii'erc iiul p'iid iior did ilie}' rLCLiI'e dny oil)cr bLiicfils froii) ciiipli)yiiiciit ii'iili FL7LiiJdiilioii ror FLIILireLondon ii) Ilic pci'iod. Duriiig ilie pcriod. FoLindiltioi) fur FLIILircLoiidoii TrLisIcc% IllLLirrcd cxpci)%cs .hicli ii'cre rciillbLirsccl b}, Il)e cliilrily toliilliiig £7()1 12023.. £6112). ExpcnEes reinibLirscil inclLiiled i?)celings expei)ses. No charity Tr1141ce rcccivcd Piiynicnl for pr(Ifes8ional or oiher s¢ri'ic¢s siipplicd lo th¢ Charily. Thc k¢y managemcnl personnel ol (hc Lhdriiy Lomprisc Ihe Truslccs and (he Excculive Direllor. Thc ioial c()st of il)e key miillLigemenl personnel for 2023124 IVLre £113,840,12022123: £120,000). Page 34
Docusign Envelope ID.. B6916686-97F8451 F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the fiinancial Statements for the Year Ended 31 March 2024 The monthly ai'erage number of pcrsons linclLiding scnior managctncnl leam) employed by ihe group during the yell r expressed <18 full time eqiiiiialeni.s il'as as fc)Iloii's'. 202A 2023 ProgrJn)11)e dclii'cry Fundraising Admiiiistratiie I l Related porty ¢rnn5nclion5 Foundiltion for FuliireLondon is rcquircd lo disclose Iransaclion8 iviih relaied parlies orgdni%aiions or indii'iduils 111lL t h'iv¢ tl)¢ p)ienii411 io control or influcnLC F()Liiidaiion for FLiiureLondun or to be conlrolled or iiiflucnLed by FoLinddtioii fur Fuliir¢London. The rclilted par(ies where ihere wcrc tr4ln%ilclions iviih Foiiiid:Ilioi) for Fiilur¢Londoii in 2022123 or 2023124 arc.. Fuiurelondon Eiiie]prise% Lin)ilcd IFLE) 2024 Donalioi)- in-kind Iiicnnie li pendIture Debtor Cliarity FLE 21123 Donalioi)- in-kind Iiicorno peiiditure l)elilor ChArity FLE FuluTcloiidoii Ei)lerpri%L% LiiiiilLd its <1 11,hi)Ily 0i4'iiLd %iibsidiJry c)I' Fc)Iiiiddiioi) for F(IliirLlc)i)dun (FFL). Diii-iiig il)c pcriud FFL proi'idcd Iiiaiidgciiieiit scrviLes lo FLE. FFL reLeil'e% dnd pays incomc 'ii)d Lxpci)diiurc oil bLhair of FLE, Iliis w'as Ireciled lo:In bcli¥'ceii ilie coii)piiiics. Tlic loii) ii'J% uiiscciired, iiil¢re4( frL¢ 'ind rcp:1s1:Ibl¢ on demand. Diiring thc year under rci'iciv, FLE, purchcised services inclLiding s(aff rcSOLITces. IT seri'ices, office SP<lCC £111d eqiiipmei)t from ihc p'irenl charity, Fnui)cl.Ilion fc)r fiiturclondon, lolallin¥ £84,745 (2023.. £75 1)07). Ai ilie end of il)e year an llniouiil of £Nil rcinaincd oulslandii)g ii) rc5PCCt ol Ilicbe puiLliase5. FLE doiii1led it's profils lo il's parci)I charil),, Folindation for Fullirelondon. For the year Cndcd 31£¢ March 2024, Ihis an)ounlcd to £102,315 (2023.. £105,388). igc 35
Docusign Envelope ID.. B6916686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 12 Audltors, remunerAlion The amouni recogniged in ihe Sia¢emeni of Financial Aciivilies for fec8 in respect of ihc audii services proi'ided lo Ihc group is £34,610 Ichurily £30,960), (2022123: £42,110, chariiy £38,000). 13 Tayation Tax chargedllcrediied} in ihe s¢aien)ent of fii)ancidl aclii'ities 21111 Cyroup Liirronl layalinn UK Lorpordiii)i) i&x Cliiirily The Lli:Irily is cxcmpl from t on inconi¢ gilin¥ filling ii'iil)iii s¢clion 505 of ihe Taxes Acl l()88 or 5eclion 252 of th¢ TilX¢ilioii of Cliar&)¢¢ibl¢ Gail)% A¢1 19()2 10 ilic cxlcnl 111411 IIISC 1¢ rc iipplicd lo ils ¢liarilJble obje¢ls. The .%Libsiiliiiry, FLIILirelon(lon En(crpri%e4 Liiiiiied 14 ITiidiii&? 5Lib%idii1ry wliiLli is noi exeii)pl froni liixdlion. The Cort)ortion Iliie for (lie ycitr ei)Iled I14t hqarLI) 21124 11,. %. £Nil, (2112.1: £Nill. 14 Tr ixcd Asset iliVQslmciils Th¢ Lliarily liold% onc shiirc of £1 in ils ii'holly oii'iicd sub4idi¢iry Loiiip;Iiiy, FiilurLLoiidon Eiilcrpri4cs Ltd, Ivhicl) is incorporiiled in the Uniled Kingdom. These arc ihe only shli rcs illlollcd. Ciillcd up and Ililly paid. At 3 Isl M<ircli 2n24 tlic subsidi41ry hiid i)el assels or £1 (2023.. £1)* <ind 11)<idc a profil for Ihc yC4ir cndcd 31 $1 Miircl) 2024 of £nil, (2023.. £7,40.11. 15 CAsh nnd clls11 ciiuii'nlciils Cyroup Cli<iril)' 2024 2023 2024 2023 1.045,190 871.471 1,227,079 700,428 1,043.365 871,471 1,227.079 7011,428 Shoil-lcriii dep04il.% Page 36
Docusign Envelope ID.. B6916686-97F8451F-83D4-8FE1EOBA2FOS Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 16 Debtor5 Group Charity 2024 2023 2024 2023 Trade debiors Paymciils on accounl Prepuymcnis Accriicd ii)coiiie Oilicr dcbior 3.650 3,650 914 6,142 6I31).30 31),8?() 914 6,142 613,930 14,520 830,824 2(),()61 14,5211 830,8?4 35,26? Page 37
Docvsign Envelope ID.. B6916686-97F8451 F-83D4-8FE1E08A2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 17 Creditors: Amount5 falling due i%'ithin one year Group Charity 2024 21123 2024 2023 Trade credilors Ae£rual.% Taxdlion and pcn5iOllS 109,980 ,149,014 5.098 127.762 1,308,515 6.163 109,980 1,145,364 12,449 127,762 1,305,(kn6 14,916 18 Tr inAncial ijislrumenls (Yroup Group 2023 Chority 21124 ClIAril}' 2023 21)24 Credilors Debiors C1h (1,264,U()21 660,815 1 ()16,()61 {1,442,440) 878,955 I C)27,5117 (1,267,792) 6()6,140 1,914,836 (1,447,744) 884,256 I CJ27,5117 Pagc 38
Docusign Envelope ID.. B6916686-97FPA51F.83D4-8FE1 E08A2F05
Foundation for fi utureLondon
Notes to the Financial Statements for the Year Ended 31 March 2024
19 Trunds
Group
Balance &t I
April 2023
Incomlng
resources
Rcsourccs
eipended
liirch 2024
General
Gencrdl Fuiids
1,268.797
292,761
1459.837)
1,101,721
De.iixiillled
Dcsigniiied Funds
l.f11 IXMI
Total unrcslricte(I fund5
1,418.797
2C)2,761
1459,837)
1,251,721
Rcstricted fiinds
Rc%lric¢cd FLind%
2261469
2 14511.30
Tot&1 funds
Iliil
Docusign Envelope ID.. B6916686-97F8-451F-83D4-8FE1 E08A2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 Charity lancc ot I April 2023 Incoming re50urce5 Resources e¥pendcd ljalllnce At 31 larch 2024 Geiieral General funds 1,268,795 271,4148 1438,-$621 1,101,721 De.sigiinted Dcsignatcd funds 150 IXIO 150 00() Total Unrestricted funds 1,418.795 271.488 {438.5621 1,251.721 Rcstrieted funds Wesifield Siraifurd City (54,7751 2,261.469 12,145.0301 61,664 Total funds Incniiiing rosi)urces Ilcsources eipendo(I lllnce 0131 IiirLlI 2U23 April 21122 Geiiernl Geiierlil flinds 1,481,931) 237,952 (4.fj1,11()6) ,268,795 De.figiialed Dc%igJn¢iicd fund i.fii IXMI Total unreslriclcd funds 163193() 237 952 451 IN)6 141871)5 RestrlLted I'iinds Wesifield Sii'iiifurd City Cily of Loiidon C)8,707 I C)C?,973 2,41H,418 175,IllXI {2,527 ()IXI) {341 ()731 154,775) Tot141 rl'slrlcted funds 235 680 257LJ418 2 86L) 873 Totnl fiin(Is Page 40
Docusign Envelope ID". 86918686-97F8451F-83D4-8FE1EOBA2F05 Foundation for FutureLondon Notes to the Financial Statenients for the Year Ended 31 March 2024 Deslgnated Funds The Truslees designaled £150,000 from ihe gei)eral flinds into a designated restrLlCtLiring and transforn)I1ion ruiid io iiicet poleiitial expendiliirc that Inay arise in Foundation for FuiurcLondoii op¢ralions. We51field East CrelltiTr'e Futures Fund The Wc%ificld East Bank Crcaiii'e Fuiures Fund is a £10 million, fii'c-year creaiii'e programme ihal ivill proi'id¢ jobs, Icarning. Ir(111)ing, aiid cducaiional oppori(Iniiies ihrough Ihc nican8 ol ari, culiiire, iniioi'aiion 11 nd crc41¢il'C placemakii)g. The outgoing resources represents indirect support cosls for WSC fonning parl of the progr&lnin)c. Cil), of London Trund The Foundillions Progrliiiime iV1i s the firsl phil se of ii'ork co-fLindcd i'la OLir four-yeii r parlnership ii'ith Ciiy of Loi)doii. 1711% pdriiicT%hip 4uppori% uiir lucal Lvllab()ril(ii'e Luliiiriil prugrainn)ii)& 6ifuLind LrLii¢iiJc cduL' lifeloiigi ILiirriiii& and en)pl()yii)L'iii opportunilie%. The Expci)diiure in ihe yecir reprcscni% direct cos1.% dnd indircLI cosis co-fundcd by Thc FoLlI)dalion. Page 41
Docusign Envelope ID.. B6916686_97F8451 F.83D4-8FE1 EOBA2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 20 Analysls of nel assets betiveen funds Cyroup Restricled funds GenerAI Total funds 2024 Ca%li d( bill)k ui)d iii liaiid Currciii &s4¢lsl(liabililiL5) 1,30(?,C)37 {40.618) 6111.025 (548,361) 1,916,fi62 {588,97(J) Total nct assci8 126601 . 616fj4 Reslrlcled I'unds Gejierol I'otal funds 2023 Cu%li di b<inL liiid in l)azid Curreni assci4llliiibililic%) 1,444 1)45 126,148) 482,562 {537,337} ,')27,5117 l.%()3,485) Tolcil iiei assei ClIArlty Rc'slriLlc(I I'uilds Cjoncrlll I'olnl fiinds 2024 C£isli ai bank and in d Ciirrcnl &%%ei(l.lbl111lC5) ,31H,811 610,1125 (548,361) ,914,83(7 601451 Tol£11 nel iL%Sel Rcslriclcd fuiids Tolhl funds 2023 Cash di bank and in hand Curreiil li sselsl(liilbililies) 1,444,Y45 2() 1411 482,562 537 337 1,927,507 563 485 Tolal nci &£sels
Docusign Envelope ID.. B6916686_97F8451 F.83D4.8FE1 E08A2F05 Foundation for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 21 Reeonclliatlon of net moi'ements In funds to net CAsh floiv from operating actii'ilics Consoli(14lted 2024 2023 Note Cash floivs from operating llclivilie5 Net ca.sh cxpciiditLir¢ Ini'L%iniLni inionic Dccrca.4c in Ilcbiors IDccrc'i%c}lincr¢asc in ¢rcdilors {8 C)84) 1.$2,4351 2111,140 (220,(YJ I ) {496,193) 116,766) 126.775 (83,037) 16 17 Nct Ciish fiuivs froni opcr£1ling aclivilics 221 Charit), 2024 21123 Notc Cas11 floi%'s frnm operaliiig aclii'itics Ncl cash cxpcndiliirc Invc%liiicni iiiic)Iiic DcLred.%c iii dLbiors (50,()35) (52,475) 217 ()1() (17() ()52) 1503,599) (1(),7()(7) 1()7.282 -fj3,8(}? {DLcrei1Scl/inLica%c ii) crcdiior¥ {Dc¢r¢*isellincrea.%c in defcrred ii)Lomc 17 Net Cash noivs fri)ni operciiing ilL(II'IIic Pagyc 43
D()CU5ign Envelope ID". B6916686-97F8451F-83D4-8FE1EO8A2F05 Foundalion for FutureLondon Notes to the Financial Statements for the Year Ended 31 March 2024 22 Prior )eor comparison of SOFA for the year cnded 31 Lllarch 2024 Unreslrictod fuiids Restricted funds Total 2nll Note Inconic gnd Endoii'nients from: Donaiionq lind IL&Tar Lie% Oihcr trading aclii'itie% Invesln)enl income 39,891 208,333 2.579.418 2.619.309 208,333 Toial Income 264.()CJO 2,57l).418 2,844.4118 Expenditure on: Chiirilablc activities Riiising funds Costs of irdding slclii'ilics Total Expendiliirc (216,8111 1234,284) (2,86(),873) {3,1186,684) {234,284) 19()34 {4711,729) 12,8()(),873) {3,3411,611?1 Ncl exp¢ndilur¢ 12115,73C)) 12()11,455) {4(J6. ICJ4} Nei movemeiil in flind4 {205.739) 12()0,455) (4L)6,194) Rcconcllluiloi) of fui)ds Tulal fiinds broLlgTht for%v<ird 1624 536 35 6811 11611216 Tulal fuiids ¢rI¢ forni'iird 19