**REGISTERED CHARITY NUMBER: 1162197**
**Report of the Trustees and Financial Statements for the Year Ended 30 June 2023**
**for Founders4Schools**
**Founders4Schools**
## **Contents of the Financial Statements for the Year Ended 30 June 2023**
|||**Page**||
|---|---|---|---|
|**Chairman’s Report**||1||
|**Report of the Trustees**|2|to|9|
|**Report of the Independent Auditors**|10|to|11|
|**Consolidated Statement of Financial Activities**||12||
|**Consolidated Statement of Financial Position**||13||
|**Charity Statement of Financial Position**||14||
|**Consolidated Statement of Cash Flows**||15||
|**Notes to the Financial Statements**|16|to|27|
|**Consolidated Detailed Statement of Financial Activities**|28|to|29|
**Founders4Schools**
## **Chairman’s Report for the Year Ended 30 June 2023**
## **Access impact review online: https://www.founders4schools.org.uk/annual-review-index/**
In the year ending June 2023, Founders4Schools (F4S) reached the significant milestone of having facilitated 2 million career-acceleration encounters.
We are delighted to have helped more than 600,000 students, teachers, careers leads, and SME employees and we are determined to continue to be a powerful force of social good, especially for individuals from disadvantaged communities where access to expert insight and support is limited.
In today's uncertain landscape, social impact is valued by investors, demanded by employees, sought after by customers and will make our economy stronger. I’m pleased that all of our activities align with the UN's Sustainable Development Goals and reflect our commitment to make a positive impact on society.
Here is an overview of our activities in 2022-23:
Our innovative platforms continue to be popular methods used by educators and small businesses for powerful insights and access to the skills needed to navigate the innovative and career pathways demanded by those in tech and sustainability careers.
Our granular and transparent reporting helps our partners understand the impact our joint efforts are having on our communities and social impact goals.
I am grateful to the many stakeholders whose generosity has made these outcomes possible. From the educators who choose our platform to enrich their curriculum; to the volunteer role models and experts who share their time, knowledge, and career journeys; to our individual donors and corporate partners whose donations and grants enable us to employ staff and contractors and to the wonderfully kind Members, Trustees, Advisors and colleagues, whose activities support us throughout the year.
I continue to be encouraged by the impact of the work that we do to close the UK’s skills gap.
Sherry Coutu CBE, Chair
Page 1
**Founders4Schools**
## **Report of the Trustees for the Year Ended 30 June 2023**
The trustees present their report together with the group financial statements of the charity and its wholly owned subsidiary Digital Boost Upskilling Limited (Digital Boost) for the year ended 30 June 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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. We have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
The objects of the charitable incorporated organisation (CIO) are to encourage and enable young people to leave formal education with a skill set that is appropriate for or consistent with future jobs; and to encourage and enable people of any age to advance their skills.
We promote our objects with particular reference to entrepreneurship in the fields of technology, applied sciences and related subjects.
## **ABOUT US**
We're an award-winning charity that leverages technology & AI to empower young people to make informed career choices by connecting them with a network of inspiring volunteer role models. We work in partnership with governments, corporates, and educational institutions to bridge the gap between education and the world of work. Whether in a classroom or a virtual setting, our mission is to give all people the best start in life, no matter their background, by preparing them for the ever-changing world of work.
Our trading subsidiary, Digital Boost, leverages technology and AI leverages technology to ensure that anyone who wants to start or grow a business can access personalised support and expertise, regardless of the stage they're at or existing networks. Through a community of 3,600+ volunteers, they deliver unlimited 1:1 mentoring, masterclasses, actionable peer learning programmes and more. This helps build their skills and confidence, enhancing their organisation's resilience. Thriving small businesses improve our communities and our economy.
The services we provide helps to improve social mobility, inclusivity, and access to digital skills, levelling the playing field for those who need them the most.
Page 2
**Founders4Schools**
## **Report of the Trustees for the Year Ended 30 June 2023**
## **HIGHLIGHTS OF THE YEAR**
Over the past year, F4S accelerated the career prospects of 50,000 students, 6,500 small businesses & provided granular transparent insights to hundreds of our partners.
Sustainability: We expanded our work on the theme of Sustainable Futures with our partner DYW (Developing the Young Workforce) in Scotland: Introducing those working in offshore Wind Renewable Energy sector to pupils from across schools in North-East Scotland.
Maths: Buoyed on by research showing strong impact, we continued our Maths4Girls initiative encouraging more girls to continue with maths beyond GCSEs with the endorsement of the Maths Anxiety Trust, the Advanced Mathematics Support Programme (AMSP), The National Centre for Excellence in the Teaching of Mathematics (NCETM) and the Department for Education (DfE).
Digital Boost continued to grow its reach and impact via partnerships with the Mastercard Centre for Inclusive Growth, NatWest Group, Lloyds Banking Group, BT, Aviva and others, which increased the volunteer base to 3,600 and the number of skills they mentor to 80. By June 2023, over 6,500 small businesses were using Digital Boost for 1:1 and group support, with 58% of those mentored female and 44% from an ethnic minority. Our mentoring and masterclass services received an outstanding Net Promoter Score of 76, with 70% of requests fulfilled within 72 hours.
Digital Boost also significantly enhanced its technology platform, making it even easier for small businesses to connect to support. Its white-label offer allows other organisations to customise and brand the platform to power their bespoke programmes. Supported initiatives include the Royal Bank of Scotland’s Mentor Match, Rebel Business School’s mentoring programme, and EY’s global non-profit support programme.
Throughout the year, we remained committed to innovation, making it easier for small businesses and schools to access the help and inspiration they need."
## **OUR IMPACT**
We are committed to continuous improvement & closely monitor all our activities using both qualitative and quantitative methods including user engagement, NPS, surveys, case studies, and focus groups. This ensures we have a clear understanding of the impact our services are having.
## **Public benefit statement**
The trustees confirm that in exercising their powers and duties they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.
Page 3
**Founders4Schools**
## **Report of the Trustees for the Year Ended 30 June 2023**
## **Financial Review**
The group financial statements consolidate the results of the charity and its wholly owned subsidiary Digital Boost Upskilling Limited.
The impairment of Workfinder is described in note 13.
The group generated total income of £1,193k for the year ended 30 June 2023 (2022: £1,414k) This consists of £920k (2022 £1,168k) from donations and grants and £273k (2022 £245k) from other sources.
Restricted income, which can only be used for a specific purpose, amounted to £786k (2022: £801k) and made up 66% (2022: 57%) of total income.
Total costs were £2,098k (2022: £1,537k).
Group funds carried forward at the end of the year were £136k (2022: £1,041k), which comprised of £127k (2022: £957k) in unrestricted funds and £9k (2022: £85k) in restricted funds.
Digital Boost Upskilling Limited
Digital Boost Upskilling generated total income of £895k for the year ended 30 June 2023 (2022: £772k).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
F4S is a charitable incorporated organisation (CIO) governed by its constitution.
It has the support of many stakeholders from the worlds of education, philanthropy, government and business that support our important work.
## **Investment Policy**
We will only make investments in organisations whose objectives are consistent with the our charitable aims.
## **Reserves Policy**
To manage financial risk and short-term income volatility, we aim to achieve 4 months of operating expenditure in free reserves by 2026.
The level of the charity’s free reserves increased from £65k at 30 June 2022 to £87k at 30 June 2023 which represents over 2 months of operating expenditure.
Page 4
**Founders4Schools**
## **Report of the Trustees**
## **for the Year Ended 30 June 2023**
## **Principal Risks**
The principal risks facing the charity are outlined below along with the strategies to mitigate them:
1. Lack of funding - Risk mitigation:
- Ensure the pipeline of fundraising activity is split between existing supporters and business development to identify and attract new supporters
- Diversify fundraising sources and income streams.
- 2.- Low customer satisfaction: Risk mitigation:
- Ensure regular feedback from users and software updates on operational functionality Secure in-kind support to upgrade the platform
3. Talent attraction & Retention – Risk mitigation:
- Training, performance development and feedback systems are reviewed regularly
- Staff surveyed and action taken on issues highlighted
## **THANK YOU TO OUR DONORS AND PRO-BONO PARTNERS**
We would like to thank all our donors & partners for your ongoing support and look forward to working with you further on our important shared mission
To find out more about our partners, please visit www.founders4schools.org.uk/partners.
Page 5
**Founders4Schools**
## **Report of the Trustees**
## **for the Year Ended 30 June 2023**
## **ORGANISATIONAL STRUCTURE**
The charity decision-making and overall strategic direction of the charity are determined by the trustees, who are supported by Advisory Councils, which are made up of senior business leaders and educationalists.
The following table summarises the key elements of the charity’s organisational structure:
## **Organisational Element**
## **Key Roles and Responsibilities**
Trustee Board: Meet quarterly
The ultimate responsibility for directing the affairs of the charity, ensuring it is solvent, well-run, as well as manages and assessing risks and ensure it is achieving its charitable status
Advisory Councils: Meet quarterly to advise on impact, to refer funding opportunities, and to act as ambassadors for F4S in their communities
Senior Management Team: Meet weekly to review fundraising, business development, operations financial control and programmes Staff: Weekly stand up meetings. Monthly project status meetings. Reviews and provides input to strategic three-year business plan and annual business plan
The Chair is Sherry Coutu.
New trustees are appointed by the board, after a skills audit and a gap analysis, at the recommendation of the Nominations Committee. New trustees are issued with an appointment letter together with an agreement for signing and as part of their induction meet with members of the senior management team to gain a comprehensive overview of all current activities. Trustee training and development is reviewed on an annual basis.
The trustees and the senior management team constitute the key management personnel of the CIO. No trustee received remuneration during the period.
The Board of Trustees has delegated remuneration arrangements and targets for performance-related pay to the Remuneration Committee. The Remuneration Policy is to attract and retain the skills required to deliver the services and strategy. We benchmark roles and job descriptions to relevant not-for-profit sector role
## **INFORMATION ON FUNDRAISING PRACTICES**
F4S is supported by several corporations, charitable trusts and foundations, as well as philanthropic gifts from major donors. We thank supporters appropriately and demonstrate the difference their money makes.
The Charity has in place a range of policies and processes that promote corporate responsibility and ethical behaviour,
F4S is registered with the Fundraising Regulator, an independent body that sets and maintains standards for charitable fundraising.
Page 6
**Founders4Schools**
## **Report of the Trustees for the Year Ended 30 June 2023**
In registering, we agree to fundraise according to the regulator's strict set of codes and to adhere to the Fundraising Promise, ensuring that our fundraising is legal, open, honest and respectful.
We do not sub-contract fundraising activities to third parties.
We have never received any complaints regarding our fundraising activities.
The high level goals of our fundraising strategy are as follows: To:
i. Continue to increase the number of organisations we secure financial support from ii. Grow unrestricted income to support our activities iii. Secure restricted income only where it fits with our strategic goals iv. Develop and implement an engagement strategy for high net worth individuals
v. Devote time and resources into building long-term relationships with existing donors
To build capacity and infrastructure to support a more diverse funding model, including:
ii. Communicate effectively with partners and donors with regular impact reports, newsletters, events, and other engagement activities
iii. Improve donor communication and recognition via the website iv. Integrate fundraising messages into our marketing activities
During the year the charity spent £249k (2022: £347k) on raising funds.
## **PLANS FOR THE FUTURE**
Digital skills, sustainability and inclusion are important to all of us & the wider UK economy. Raising awareness, tackling socio-economic barriers and developing talent will continue to be a focus when developing projects and partnerships.
Digital Boost
Digital Boost’s key priority for the coming year is to expand its reach to support more small businesses and drive greater impact through a wide range of partnerships (including internationally), the launch of ongoing peer support programmes, and focused programmes for female founders
Page 7
**Founders4Schools**
**Report of the Trustees for the Year Ended 30 June 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Charity number** 1162197
**Principal address**
22 Chancery Lane London WC2A 1LS
**Trustees**
Sherry Coutu CBE - Chair Divesh Chandiramani (appointed 25 August 2023) Janet Coyle Joanne Hannaford Gary Hanson (retired 30 November 2023) Jonathan Pearl Russ Shaw Claire Nooriala (nee Volati) Lauren Von Stackelberg
## **Auditors**
Sumer Auditco Limited Statutory Auditor Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
**Key management personnel** Alison Rowan McEwan (Executive Director) Michaela Escbach (to 16 August 2022)
## **Solicitors**
Dechert 25 Cannon Street London EC4M 5UB
## **Banks**
Barclays Bank Leicester LE87 2BB
Metrobank One Southampton Row London WC1B 5HA
## **Registered office**
22 Chancery Lane London WC2A 1LS
Page 8
**Founders4Schools**
## **Report of the Trustees**
## **for the Year Ended 30 June 2023**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 19[th] March 2024 and signed on its behalf by:
........................................................................ Sherry Coutu CBE - Trustee
Page 9
## **Report of the Independent Auditors to the Trustees of Founders4Schools**
## **Opinion**
We have audited the financial statements of Founders4Schools (the 'parent charity') and its subsidiary (the ‘group’) for the year ended 30 June 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated Statement of Financial Position, the Charity Statement of Financial Position, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and of the parent charity’s affairs as at 30 June 2023 and of the group’s incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Page 10
## **Report of the Independent Auditors to the Trustees of**
## **Founders4Schools**
In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
- Understanding of management's internal controls designed to prevent and detect irregularities, and fraud;
- Reviewing the minutes of Board of Trustees meetings;
- Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of expenses;
- Performing analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud;
- Reviewing of the financial statements disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above;
- Testing transactions entered into outside of the normal course of the charitable company's business; and
- Identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals with round numbers
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
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. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Sumer Auditco Limited Statutory Auditor Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 County Gate County Way Trowbridge Wiltshire BA14 7FJ
Date: ............................................. 15 April 2024
Page 11
**Founders4Schools**
## **Consolidated Statement of Financial Activities for the Year Ended 30 June 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Other trading activities**
Trading company income
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
Educational support 5
Other 7
**Total**
**NET INCOME / (EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
134,011
272,919
2
-
406,932
249,161
146,935
840,452
1,236,548
(829,616)
956,938
127,322|Restricted
funds
£
785,592
-
-
-
785,592
-
861,436
-
861,436
(75,844)
84,537
8,693|2023
Total
funds
£
919,603
272,919
2
-
1,192,524
249,161
1,008,371
840,452
2,097,984
(905,460)
1,041,475
136,015|2022
Total
funds
£
1,168,568
235,922
-
9,039
1,413,529
346,893
1,189,394
-
1,536,827
(122,758)
1,164,233
1,041,475|
|---|---|---|---|---|
Page 12
**Founders4Schools**
## **Consolidated Statement of Financial Position 30 June 2023**
|Notes
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds 16
Restricted funds 16
**TOTAL FUNDS**|Unrestricted
funds
£
15,792
-
15,792
98,922
446,438
545,360
(433,830)
111,530
127,322
127,322|Restricted
funds
£
-
-
-
-
8,693
8,693
-
8,693
8,693
8,693|2023
Total
funds
£
15,792
-
15,792
98,922
455,131
554,053
(433,830)
120,223
136,015
136,015
127,322
8,693
136,015|2022
Total
funds
£
8,634
840,452
849,086
186,702
374,819
561,521
(369,132)
192,389
1,041,475
1,041,475
956,938
84,537
1,041,475|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19[th] March 2024 and were signed on its behalf by:
............................................. Sherry Coutu CBE - Trustee
The notes form part of these financial statements
Page 13
**Founders4Schools**
## **Charity Statement of Financial Position 30 June 2023**
|Notes
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds 16
Restricted funds 16
**TOTAL FUNDS**|Unrestricted
funds
£
2,889
100
2,989
77,144
69,918
147,062
(62,610)
84,452
87,441
87,441|Restricted
funds
£
-
-
-
-
8,693
8,693
-
8,693
8,693
8,693|2023
Total
funds
£
2,889
100
2,989
77,144
78,611
155,755
(62,610)
93,145
96,134
96,134
87,441
8,693
96,134|2022
Total
funds
£
6,251
840,552
846,803
96,230
166,259
262,489
(112,926)
149,563
996,366
996,366
911,829
84,537
996,366|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19[th] March 2024 and were signed on its behalf by:
............................................. Sherry Coutu CBE - Trustee
The notes form part of these financial statements
Page 14
**Founders4Schools**
|**Consolidated Statement of Cash Flows**
**for the Year Ended 30 June 2023**
2023
Notes
£
**Cash flows from operating activities**
Cash generated from operations
18
96,447
Net cash/provided by operating activities
96,447
**Cash flows from investing activities**
Purchase of tangible fixed assets
(16,137)
Interest received
2
Net cash used in investing activities
(16,135)
**Change in cash and cash equivalents in**
**the reporting period**
80,312
**Cash and cash equivalents at the**
**beginning of the reporting period**
374,819
**Cash and cash equivalents at the end of**
**the reporting period**
455,131|2022
£
8,719
8,719
(6,709)
-
(6,709)
2,010
372,809
374,819|
|---|---|
The notes form part of these financial statements
Page 15
**Founders4Schools**
## **Notes to the Consolidated Financial Statements for the Year Ended 30 June 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
Founders4Schools is a charitable incorporated organisation registered in England and Wales. The principal address of charity is given within the reference and administration details of these financial statements. The nature of the charity's operations and principal activities are provided in the Report of the Trustees.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.
## **Basis of consolidation**
These group financial statements consolidate the results of the charity and its wholly-owned subsidiary Digital Boost Upskilling Limited, both of which make up their financial statements to 30 June. Inter group income and expenditure is eliminated and all income and expenditure relate to external transactions only. A separate statement of financial activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 24 of Accounting and Reporting by Charities: Statement of Recommended Practice.
## **Going concern**
The trustees have considered the charity’s cash flow projections to ensure that the charity will continue to be able to operate with the resources it is likely to have available and concluded that the charity is a going concern.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations and any associated Gift Aid are recognised on receipt of the donation. Gift in kind donations for services are recognised at the estimated value to the Charity.
Corporate partnership income is recognised after the first 30 days from the beginning of the contract as the time to deliver the benefits is materially delivered in this initial 30 day period.
Service contract income is recognised in proportion to costs incurred for work to date compared to total costs to completion.
## **Grant Income**
All foreign grant income receivable is stated in the financial statements at the exchange rate prevailing on the date of the receipt of the fund.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Software development costs**
The charity's trustees have taken the decision not to capitalise software development costs as intangible assets and instead treat software development costs as expenses in the Statement of Financial Activities when incurred.
Page 16
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Fixed asset investment**
The fixed asset is recorded at cost less impairment. In February 2024 it was resolved at a meeting of members of Workfinder Limited (“Workfinder”) that Workfinder should be placed into a creditors voluntary liquidation as the Workfinder cannot, by reason of its liabilities, continue in business. The investment asset has therefore been written down in the financial statements of Founders4Schools to a £nil valuation as at 30 June 2023. The 2022 net book value of the unlisted investments of £840,452 represented the deemed cost at that point in time of developing the intellectual property of the Workfinder App.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on straight line basis
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension scheme**
From October 2017 Founders4Schools has operated a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of Founders4Schols in an independently administered fund. The pension costs charged in the financial statements represent the contributions payable during the year.
## **Debtors and creditors**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Loans are initially recognised at transaction price and then subsequently measured at amortised cost using the effective interest rate model, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
## **Financial instruments**
The charity has only 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.
Page 17
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2023**
## **2. DONATIONS AND LEGACIES**
|Donations
Gift aid
Grants
Significant grants and donations received, included in the above, are as follows:
**Donations and legacies**
Joanne Hannaford
Other donations under £50,000
**Grants**
Corporate
Institution
Trusts and Foundation
**Institutions**
The Scottish Government
Other grants under £50,000
**3.**
**INVESTMENT INCOME**
Deposit account interest||2023
£
95,501
26,730
797,372
919,603
2023
£
40,000
55,501
95,501
2023
£
629,514
107,500
60,358
797,372
2023
£
87,500
20,000
107,500
2023
£
2|2022
£
175,860
37,467
955,241
1,168,568
2022
£
75,360
100,500
175,860
2022
£
636,396
199,000
119,845
955,241
2022
£
175,000
24,000
199,000
2022
£
-|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
Page 18
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2023**
## **4. RAISING FUNDS**
## **Raising donations and legacies**
|Staff costs
Travel and subsistence
Rent
Sundries
Trading subsidiary costs|2023
£
26,615
365
-
1,591
220,590
249,161|2022
£
163,373
2,077
15
1,125
180,303|
|---|---|---|
|||346,893|
|**5.**
**CHARITABLE ACTIVITIES COSTS**
Educational support
**6.**
**SUPPORT COSTS**
Management
£
Educational support
61,716||Direct
Costs
£
926,141
Finance
£
492|Support
costs (see
note 6)
£
82,230
Governance
costs
£
20,022|Totals
£
1,008,371|Totals
£
1,008,371|
|---|---|---|---|---|---|
||||||Totals
£
82,230|
Support costs are allocated between raising funds and charitable activities based on the estimated proportions of use of those resources.
Support costs, included in the above, are as follows:
|Support costs, included in the above, are as follows:|||
|---|---|---|
||2023|2022|
||Educational|Educational|
||support|support|
||£|£|
|Rent|-|137|
|Insurance|1,999|3,623|
|Postage and stationery|131|277|
|Advertising and marketing|37,259|12,148|
|Sundries|737|6,725|
|Events and entertaining|8,850|416|
|Recruitment|3,104|198|
|Legal fees|6,274|11,749|
|Depreciation of tangible and heritage assets|3,362|3,585|
|Bank charges|492|526|
|Auditors' remuneration|20,022|14,556|
||82,230|53,940|
## **7. OTHER EXPENDITURE**
This is the impairment cost of the write down of value of the Workfinder App as set out in note 13.
Page 19
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2023**
## **8. AUDITORS' REMUNERATION**
Fees payable to the charity's auditors for the audit of the charity's financial statements
|2023
£
16,800|2022
£
15,300|
|---|---|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
## **Trustees' expenses**
No trustees reclaimed expenses on behalf of the charity in 2023 or 2022.
## **10. STAFF COSTS**
|Charity:
Wages and salaries
Social security costs
Pension|Year
ended
30.6.23
£
672,354
70,813
34,961
778,128|Year
Ended
30.6.22
£
1,085,935
108,925
29,550|
|---|---|---|
|||1,224,410|
The total amount of employee benefits received by key management personnel is £65,546 (2022: £76,332). The charity considers its key management personnel comprise the trustees and senior management team.
2 employees (2022: 4) received emoluments in excess of £60,000 per annum:
||2023|2022|
|---|---|---|
|Salary band|no.|no.|
|£60,001 - £70,000|-|2|
|£90,001 - £100,000|-|1|
|£110,001 - £120,000|1|-|
|£140,001 - £150,000|-|1|
|£150,001 - £160,000|1|-|
The average monthly number of employees during the year was as follows:
|Developers
Partnerships and operations
Management
Administration
Fund-raising|2023
3
7
2
2
1
15|2022
5
12
6
1
2
26|
|---|---|---|
Page 20
continued...
**Founders4Schools**
|**Notes to the Financial Statements- continued**
**for the Year Ended 30 June 2023**
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
387,705
**Other trading activities**
Trading company income
215,922
Investment income
-
Other income
9,039
**Total**
612,666
**EXPENDITURE ON**
Raising funds
326,893
**Charitable activities**
Educational support
274,889
**Total**
601,782
**NET INCOME/(EXPENDITURE)**
10,884
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
946,054
**TOTAL FUNDS CARRIED FORWARD**
956,938|Restricted
funds
£
780,863
20,000
-
-
800,863
20,000
914,505
934,505
(133,642)
218,179
84,537|Total
funds
£
1,168,568
235,922
-
9,039
1,413,529
346,893
1,189,394
1,536,287
(122,758)
1,164,233
1,041,475|
|---|---|---|
Page 21
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2023**
## **12. TANGIBLE FIXED ASSETS**
|**Group**
**COST**
At 1 July 2022
Additions
At 30 June 2023
**DEPRECIATION**
At 1 July 2022
Charge for year
At 30 June 2023
**NET BOOK VALUE**
At 30 June 2023
At 30 June 2022
**Charity**
**COST**
At 1 July 2022
Additions
At 30 June 2023
**DEPRECIATION**
At 1 July 2022
Charge for year
At 30 June 2023
**NET BOOK VALUE**
At 30 June 2023
At 30 June 2022
**13.**
**FIXED ASSET INVESTMENTS**
**Group and charity**
Shares in
group
Unlisted
undertakings
investments
£
£
**COST LESS IMPAIRMENT**
At 1 July 2022
100
840,452
Impairments
-
(840,452)
At 30 June 2023
100
-
**NET BOOK VALUE**
At 30 June 2023
100
-
At 30 June 2022
100
840,452|Computer
equipment
£
16,294
16,136
32,430
7,660
8,978
16,638
15,792
8,634
Computer
equipment
£
12,905
-
12,905
6,654
3,362
10,016
2,889
6,251
Totals
£
840,552
(840,452)
100
100
840,552|
|---|---|
Page 22
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2022**
## **13. FIXED ASSET INVESTMENTS - continued**
There were no investment assets outside the UK.
The net book value of shares in group undertakings consists of £100 investment representing shares held in Digital Boost Upskilling Ltd, formerly F4S Trading Ltd, (incorporated in the United Kingdom, company number 10187293) which is a wholly owned subsidiary.
In order to manage the risk of the project, rather than yield a return, the intellectual property relating to the Workfinder App, was transferred to a 3rd party company - Workfinder Newco Limited, now Workfinder Limited (Company number 12072557). In exchange for this transfer the charity received a shareholding in Workfinder Limited.
The asset is recorded at cost less impairment. The 2022 net book value of the unlisted investments of £840,452 represented the deemed cost of developing the intellectual property of the Workfinder App of £988,215 less the value of long-term loans that were transferred to Workfinder Limited as part of the transaction of £147,763.
In February 2024 it was resolved at a meeting of members of Workfinder Limited (“Workfinder”) that Workfinder should be placed into a creditors voluntary liquidation as the company cannot, by reason of its liabilities, continue in business. The investment asset has therefore been written down in the financial statements of Founders4Schools to a £nil valuation at 30 June 2023.
As described in note 17 - Sherry Coutu, a Trustee of Founders4Schools, is also a director of Workfinder Limited and M Eschbach (managing director of Founders4Schools until 16 August 2022) was Chief Executive Officer of Workfinder Limited from 31 January 2022 until 10 August 2023.
A summary of the financial performance of the subsidiary is shown below:
|Turnover – external
– transfer
Total expenditure
Profit|Year
ended
30.6.23
£
894,613
-
(859,902)
34,711|Year
Ended
30.6.22
£
772,080
-
(732,140)
39,940|
|---|---|---|
The assets and liabilities of Digital Boost Upskilling Ltd were:
|Fixed assets
Current assets
Current liabilities
Total net assets
Share capital and reserves|Year
Ended
30.6.23
£
12,903
464,491
(437,412)
39,982
39,982|Year
Ended
30.6.22
£
-
654,971
(609,762)
45,209
45,209|
|---|---|---|
Page 23
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2023**
## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**Group**
2023
2022
£
£
Trade debtors
71,042
180,530
Prepayments and accrued income
Amounts due from Digital Boost Upskilling
27,880
-
6,172
-
98,922
186,702
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**Group**
2023
2022
£
£
Trade creditors
52,009
25,213
Social security and other taxes
34,331
52,953
Other creditors
16,916
22,789
Amounts due to Digital Boost Upskilling
-
-
Accruals and deferred income
330,574
268,177
433,830
369,132|**Charity**
2023
£
6,600
4,897
65,647
77,144
**Charity**
2023
£
42,269
3,585
744
-
16,012
62,610|
2022
£
91,490
4,740
-|
|---|---|---|
|||96,230|
|||
2022
£
5,839
26,015
3,670
62,938
14,464|
|||112,926|
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Included in accruals and deferred income is £168,844 grant income received in advance which has been deferred (2022: £202,603).
## **16. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Scottish Government
Teacher Training
Sustainable Futures Programme
Maths 4 Girls
London Borough of Hammersmith & Fulham
**FUNDS FOR CHARITY**
Funds of subsidiary
**FUNDS FOR GROUP**||
|---|---|
|||
Page 24
continued...
**Founders4Schools**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2023**
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|
Resources|Movement|
|---|---|---|---|
||resources|
expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|134,052|(958,440)|(824,388)|
|**Restricted funds**||||
|Scottish Government|87,500|(87,500)|-|
|Teacher Training|-|(3,655)|(3,655)|
|Sustainable Futures Programme|-|(50,134)|(50,134)|
|Maths 4 Girls|74,726|(87,221)|(12,495)|
|London Borough of Hammersmith & Fulham|-|(9,560)|(9,560)|
|Digital Boost|618,827|(618,827)|-|
|Other|4,500|(4,500)|-|
||785,553|(861,397)|(75,844)|
|**TOTAL FOR CHARITY**|919,605|(1,819,837)|(900,232)|
|Subsidiary company - unrestricted|272,919|(278,147)|(5,228)|
|Subsidiary company - restricted|-|-|-|
|**FUNDS FOR GROUP**|1,192,524|(2,097,984)|(905,460)|
|Within the charity’s unrestricted fund balance at 30 June|2023 of £87,441, the level of free reserves is £84,45|||
|which represents over 2 months of operating expenditure. Free reserves are the part of the charity’s unrestricte||||
|funds that are freely available to spend on any of the charity’s purposes. Free reserves are calculated by taking th||||
|total unrestricted funds and excluding tangible fixed assets|and investments as these assets are not freely availab|||
|to contribute towards working capital requirements.||||
|**Comparatives for movement in funds**||||
|||Net||
||At|Movement|At|
||1.7.21|in funds|30.6.22|
||£|£|£|
|**Unrestricted funds**||||
|General fund|946,054|(34,225)|911,829|
|**Restricted funds**||||
|Scottish Government|10,000|-|10,000|
|Teacher Training|40,000|(31,055)|8,945|
|Villiers Park Project|16,000|(16,000)|-|
|London Borough of Hammersmith & Fulham|-|9,560|9,560|
|Sustainable Futures Programme|145,750|(92,635)|53,115|
|Maths 4 Girls|-|2,917|2,917|
||211,750|(127,213)|84,537|
|**FUNDS OF CHARITY**|1,157,804|(161,438)|996,366|
|Funds of subsidiary – restricted|6,429|38,680|45,109|
|**FUNDS OF GROUP**|1,164,233|(122,758)|1,041,475|
Within the charity’s unrestricted fund balance at 30 June 2023 of £87,441, the level of free reserves is £84,452 which represents over 2 months of operating expenditure. Free reserves are the part of the charity’s unrestricted funds that are freely available to spend on any of the charity’s purposes. Free reserves are calculated by taking the total unrestricted funds and excluding tangible fixed assets and investments as these assets are not freely available to contribute towards working capital requirements.
Page 25
continued...
**Founders4Schools**
## **Notes to the Financial Statements – continued for the Year Ended 30 June 2023**
## **16. MOVEMENT IN FUNDS – continued**
|**Unrestricted funds**
General fund
**Restricted funds**
Scottish Government
Teacher Training
Villiers Park Project
London Borough of Hammersmith & Fulham
Digital Boost
Sustainable Futures Programme
Maths 4 Girls
**TOTAL FOR CHARITY**
Subsidiary company - unrestricted
Subsidiary company - restricted
**TOTAL FOR GROUP**|Incoming
resources
£
396,744
175,000
-
-
24,000
536,113
35,750
10,000
780,863|Resources
expended
£
(430,969)
(175,000)
(31,055)
(16,000)
(14,440)
(536,113)
(128,385)
(7,083)
(908,076)|Movement
in funds
£
(34,225)
-
(31,055)
(16,000)
9,560
-
(92,635)
2,917
(127,213)
(161,438)
45,109
(6,429)
(122,758)|
|---|---|---|---|
||1,177,607
215,922
20,000
1,413,529|(1,339,045)
(170,813)
(26,429)
(1,536,287)||
The specific purposes for which the funds are to be applied are as follows:
Scottish Government To develop young person employability programmes throughout Scotland Teacher Training To develop an online course CPD accredited certification to support teacher’s careers education in schools Villiers Park Project To improve social mobility and develop skills for success for young
To develop an online course CPD accredited certification to support teacher’s careers education in schools
To improve social mobility and develop skills for success for young people- Using Big Data to Improve the Employability of Young People To help shape the next diverse generation and enable future economic growth for all
London Borough of Hammersmith & Fulham Digital Boost Sustainable Futures Programme
To provide Digital Skills for SME’s
To accelerate opportunities for young people and make sustainable careers an attractive place for them to focus their futures (in collaboration with WWF and Villiers Park Educational Trust and supported by Evolution Education Trust)
Maths 4 Girls
To assist educators in increasing the proportion of girls pursuing maths beyond GCSE
Page 26
**Founders4Schools**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2023**
## **17. RELATED PARTY DISCLOSURES**
The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
During the year, the charity received a total of £nil (2022; £46,000) in donations either directly from S L Coutu (a Trustee) or from organisations in which S L Coutu is connected.
During the year, the charity received a total of £40,000 (2022: £75,360) in donations directly from J Hannaford (a trustee).
M Eschbach (managing director of Founders4Schools until 16 August 2022) was Chief Executive Officer of Workfinder Limited from 31 January 2022 until 10 August 2023. As at 30 June 2023 Founders4Schools had a shareholding in Workfinder Limited valued at £840,452 as set out in note 13 to the financial statements. There is a commercial agreement under which the charity receives referral fees from Workfinder for placements they facilitate. Fees payable by Workfinder to the charity were £4,647 (2022: £150).
Included within other creditors at the year-end is £11,381 payable to S L Coutu (2022: £11,381).
## **18. RECONCILIATION OF NET (EXPENDITURE) / INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
||**ACTIVITIES**||||
|---|---|---|---|---|
||||2023|2022|
||||£|£|
||**Net (expenditure)/income for the reporting period (as per the**||||
||**Statement of Financial Activities)**||(905,460)|(122,758)|
||**Adjustments for:**||||
||Depreciation charges||8,979|4,591|
||Impairment of fixed assets investments||840,452|-|
||Interest received||(2)|-|
||Prior year adjustment||-|-|
||Debtors relating to loans||-|-|
||Decrease/(increase) in debtors||87,780|4,424|
||Increase/(decrease) in creditors||64,698|122,462|
||**Net cash (used in)/provided by operations**||96,447|8,719|
|**19.**|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1.7.22|Cash flow|At 30.6.23|
|||£|£|£|
||**Net cash**||||
||Cash at bank and in hand|374,819|80,312|455,131|
Page 27
**Founders4Schools**
|**Consolidated Detailed Statement of Financial Activities**
**for the Year Ended 30 June 2023**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
Donated services and facilities
**Investment income**
Deposit account interest
**Charitable activities**
Fee income
**Other trading activities**
Trading company income
**Other income**
Gain on sale of tangible fixed assets
Other income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Wages and pensions
Insurance
Travel and subsistence
Rent
Sundries
Trading subsidiary costs
**Charitable activities**
Wages and pensions
Social security
Trading subsidiary costs (including wages and pensions)
Travel and subsistence
IT software and consumables
Contractor costs
Subscriptions
Software development costs
**Other**
Impairment losses for fixed asset investments
**Support costs**
**Management**
Rent
Insurance
Postage and stationery
Carried forward|2023
£
95,501
26,730
797,372
-
919,603
2
-
272,919
-
-
1,192,524
26,615
-
365
-
1,591
220,590
249,161
164,842
12,979
647,386
3,629
19,081
95,900
216
7,800
951,833
840,452
-
1,999
131
2,130|2022
£
175,859
37,467
955,242
-|
|---|---|---|
|||1,168,568
-
-
235,922
-
9,039|
|||1,413,529
163,373
-
2,077
15
1,125
180,303|
|||346,893
437,208
57,753
564,191
7,230
16,516
53,556
-|
|||1,136,454
-
137
3,623
277
4,037|
This page does not form part of the statutory financial statements
Page 28
**Founders4Schools**
|**Consolidated Detailed Statement of Financial Activities**
**for the Year Ended 30 June 2023**
**Management**
Brought forward
Advertising and marketing
Sundries
Events and entertaining
Recruitment
Legal fees
Depreciation of computer equipment
**Finance**
Bank charges
**Governance costs**
Auditors' remuneration
Total resources expended
**Net expenditure**|2023
£
2,130
37,259
737
8,850
3,104
6,274
3,362
61,716
492
20,022
2,123,676
(931,152)|2022
£
4,037
11,148
6,725
416
198
11,749
3,585
37,858
526
14,556
1,536,287
(122,758)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 29
Charities report - 21.2
Final Audit Report
2024-04-08
Created..
2024-044)8
By..
Lucy Johnston (lucy@rna*J"rylwd5k..Uk>
Status..
&gned
Transaction 10..
"Charities report - 21.2" History
Document created by Lucy Johnston {lucy@makingheadspace.co.uk}
2024-04-08- 3..48..20 PM GMT
Document emailed lo Shery Leigh Coutu CBE {sheryleighcoutu@gmail.coml for signature
2024.04-08- 3."48."26 PM GMT
Email viewed by Shery Leigh Coulu CBE Isherryleigh¢outu@gmail.o)m}
2024-04-08- 3.'48.'29 PM GMT
Document e-signed by Sherry Leigh Coutu CBE (sherryleighcoulu@gmail.com)
Siqnalur8 Date.. 2024-04-08- 7..12..37 PM GMT- Tlmg SrC.. 8ew
Agreement completed.
2024-04-08- 7..12..37 PM GMT
Adobe Acrobat Sign