Trustees Annual Report and Financial Statements
Year ended 31 October 2023
Alpkit Foundation (a Charitable Incorporated Organisation)
## **Charity Information and Administrative Details**
## **Registered Charity Number**
1162585
## **Trustees**
Col Stocker (Secretary) David Hanney (Chair) Nick Smith Kenny Stocker Adge Last Helen Littlejohn Pete Whitaker Rehna Yaseen Elly Cundill
## **Principal address**
Unit 12-14 Oak House Moorgreen Industrial Estate Engine Lane Newthorpe Nottinghamshire NG16 3QU
## **Independent Examiner**
KLN Accountancy Services 8-10 High Street Heanor Derbyshire DE75 7EX
## **Bankers**
Co-operative Bank PO Box 101 1 Balloon Street Manchester M60 4EP
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## **Alpkit Foundation**
## **Report of the Trustees for the year ended 31 October 2023**
## **Introduction**
Spending time outdoors is good for the mind, body and soul. But generally people are spending less time outdoors. That is a problem we're helping to solve.
We support grass-roots direct action projects that tackle issues such as diversity & inclusion in the outdoors, participation, education, conservation and protection of our natural environment and health & well-being. We make small awards to people, groups and schools that work to remove the barriers in getting outdoors and experience wild places.
The trustees are delighted to present their annual report together with the financial statements of the charity for the year ended 31 October 2023.
## **Structure, Governance and Management**
Alpkit Foundation (the “Charity”) was registered as a charitable incorporated organisation on 8 July 2015, number 1162585.
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 (FRS102) (effective 1 January 2015) (amended 2 February 2016) as detailed in the accounting policies.
Trustees are appointed by the board of Trustees and meet seven times a year to consider applications and deal with the governance of the charity.
The secretary is appointed by the Trustees to assist in the day to day administration of the charity. The induction process for newly appointed Trustees comprises an initial meeting with the Trustees to brief them on their legal obligations under charity law, the decision making processes of the charity and its policies and procedures.
## **Risk management**
The Trustees have examined the major strategic and operational risks which the charity faces and confirm that systems have been established to ensure regular reports are produced for Trustees to ensure all necessary actions are taken to lessen the risks.
The Trustees consider the following to be the key risks that Alpkit Foundation faces:
- funding from our principle donor, Alpkit Ltd, reduces or stops. Alpkit Foundation has a rolling minimum commitment agreed with Alpkit Ltd, with a three month notice clause of any change, subject to certain conditions. lf this risk were to materialise, our key concern would be to ensure that any ongoing grant commitments to partner organisations can be met. This is mitigated by our reserves policy which requires that we have enough reserves to cover these commitments.
- internal financial control failure: Risks are minimised by the implementation of procedures for authorisation of transactions and projects. An annual review is completed of all processes using the Charity Commission's lnternal Financial Controls Checklist. Any findings from our annual independent review are also considered and acted upon.
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## **Alpkit Foundation**
## **Report of the Trustees for the year ended 31 October 2023 (continued)**
## **Public benefit**
The Trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit and in planning the activities for the year, have kept this in mind.
## **Objectives and Activities**
Alpkit Foundation was set up in 2015 to help people overcome obstacles and enable them to Go Nice Places and Do Good Things. The public benefits of Alpkit Foundation are to help people experience the outdoors and natural world.
We support direct action where we can make a positive difference and help people get out and experience wild places. This could be:
- £50 to £500 cash to individuals, community groups, schools and organisations to encourage people to get outdoors and have great experiences that otherwise couldn’t happen; e.g. giving a cash grant to a school to fund transport costs
- Provide discounted equipment for outdoor adventures and trips to individuals, groups, schools and organisations that wouldn’t be viable without support from the Alpkit Foundation
- Support outdoor educational programs; e.g. grants for outdoor First Aiders or Mountain Leader Training that wouldn’t be possible without Alpkit Foundation support
- Support proactive conservation and environmental projects; e.g. communtiy gardens and allotments or grants to help re-wild woodland and protect our wild places
- Support projects which encourage the development of facilities for outdoor skills and activities to be experienced by wider groups who otherwise may miss out e.g. cycling, climbing, outdoor swimming facilities
The specific objectives of Alpkit Foundation are:
(1) To help young people, especially but not exclusively through leisure time activities, so as to develop their capabilities that they grow to full maturity as individuals and members of society.
(2) To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
(3) To advance the education of the public in the conversation, protection and improvement of the physical and natural environment.
(4) For the public benefit to promote the education (including social and physical training) of people in such ways as the charity trustees think fit.
(5) To advance sport or games which promote health by physical or mental skill or exertion and which are undertaken on an amateur basis.
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## **Alpkit Foundation**
## **Report of the Trustees for the year ended 31 October 2023 (continued)**
(6) Any other charitable purpose as the charity trustees think fit. The activities include making grants to individuals and organisations, providing human resources, advocacy, advice and information .
The public benefits directly relate to the company's key objectives. No detriment or harm arises from the company providing the public benefits.
In shaping the objectives for the year and planning the Alpkit Foundation’s activities, the charity trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the company's aims and objectives and in planning future activities.
## **Achievements and Performance**
Our mission is to make small awards to many grass roots direct action projects that help people get outside.
Alpkit Foundation received donations of over £173,000 in the year.
We received 1,449 applications in the year to 31 October 2023 which is an increase of 211 or 17% on the number of applications in 2022.
We made awards to 634 projects totalling over £131,000 which is an average award of approximately £210. In 2022 we made awards to 518 projects totalling over £131,000 which is an average award of approximately £220.
More details of individual awards can be found at www.alpkit.com/foundation
## **Financial review**
The net deficit for the year of £17,884 is added to unrestricted reserves. Unrestricted reserves total for future benefit are £60,267.
Every month Alpkit Limited donates 1% of its sales plus the proceeds from events such as the Big Shakeout. Alpkit Limited will donate at least 10% of its annual profit to the Foundation each year.
The charity has minimal running costs and individual grants are made with on a one-off basis therefore there are few long term commitments.
The trustees have examined the charity's requirements for reserves and have established a policy that unrestricted reserves should be sufficient to cover at least six months of the charity's expenditure.
## **Approval**
This report was approved by the Trustees on 26 July 2024 and signed on its behalf by:
David Hanney **Chair of Trustees**
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## **Independent examiners report on the accounts**
**Report to the trustees of** Alpkit Foundation
31 October 2023 **Charity no** 1162585 **On accounts for the year ended Set out on pages** 1 to 13
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 October 2023.
**Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
**Independent examiner's** I have completed my examination. I confirm that no material matters have **statement** come to my attention (other than that disclosed below *) in connection wit the examination which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Signed:**
**Date:** 26 July 2024
**Name:** K L Needham
FMAAT **Relevant professional qualifications or body:** AAT Licensed Member in Practice 6520
**Address:** KLN Accountancy Services Ltd 8-10 High Street Heanor DE75 7EX
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## **Alpkit Foundation**
Statement of financial activities for the year ended 31 October 2023
|||2023|2022|
|---|---|---|---|
||Notes|£|£|
|**Income from:**||||
|Donations|2|173.825|164,983|
|Other trading activities|2|30,683|-|
|**Total income**||**204,508**|**164,983**|
|**Expenditure on:**||||
|Charitable activities|3|130,573|111,632|
|Other|3|91,819|16,100|
|**Total expenditure**||**222,392**|**127,732**|
|**Net expenditure and**||||
|**movement in funds for the year**||**(17,884)**|**37,251**|
|Funds brought forward|10|78,151|40,900|
|**Funds carried forward**|**10**|**60,267**|**78,151**|
All income and expenditure in the comparative and current Statement of Financial Activities was unrestricted.
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 13 form part of these financial statements.
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## **Alpkit Foundation**
Balance sheet as at 31 October 2023
|||2023|2022|
|---|---|---|---|
||Notes|£|£|
|Debtors|7|-|70,202|
|Cash at bank|8|99,358|21,557|
|**Total Current Assets**||**99,358**|**91,759**|
|Creditors: amounts due within one year|9|39,091|13,607|
|**Net Current Assets**||**60,267**|**78,151**|
|Unrestricted funds|10|60,267|78,151|
|**Total funds**||**60,267**|**78,151**|
The financial statements were approved by the Trustees on 26 July 2024 and were signed on its behalf by:
## David Hanney **Chair of Trustees**
The notes on pages 9 to 13 form part of these financial statements.
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## **Alpkit Foundation**
## **Notes to the accounts for the year ended 31 October 2023**
## **1. Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **CIO information**
Alpkit Foundation was registered as a charitable incorporated organisation on 8 July 2015 and is governed by a constitution dated 8 July 2015 and registered with the Charity Commission under charity number 1162585. The charity’s principal office address is Unit 1214 Oak House, Moorgreen Industrial Estate, Engine Lane, Newthorpe, Nottinghamshire NG16 3QU.
## **Accounting convention**
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (“Charities SORP (FRS102)”), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes.
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 Charities SORP (FRS 102) rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Alpkit Foundation meets the definition of a public benefit entity under FRS 102.
## **Going concern**
The Trustees have at the time of approving the financial statements a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Income**
Income is recognised in full in the Statement of Financial Activities (“SoFA”) in the year in which it is receivable.
Gifts in kind are recognised in the SoFA as income at the fair value of the goods, services or assets gifted at the date of the gift.
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
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## **Alpkit Foundation**
## **Notes to the accounts for the year ended 31 October 2023 (continued)**
**Income** (continued)
Dividend and interest income from investment funds is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of dividends and interest paid or payable by the Fund Manager.
Interest income from cash deposits and listed investments is recognised in the accounts gross, when receivable.
## **Expenditure**
Expenditure (excluding grants) is included in the SoFA on an accruals basis.
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Charitable activities include support expenditure associated with the administration and issuing of grants.
No material item of deferred income has been included in the accounts.
## **Grants**
Grants payable are commitments (including payments) made to third parties in the furtherance of the charitable objectives of the charity. Single or multi-year grants are accounted for as grants payable when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity held for working capital.
## **Debtors**
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the income and expenditure account.
## **Creditors, loans and provisions**
Creditors, loans and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial liabilities are derecognised when, and only when, obligations are discharged, cancelled or they expire.
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## **Alpkit Foundation Notes to the accounts for the year ended 31 October 2023 (continued)**
## **Creditors, loans and provisions** (continued)
Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.
## **Fund accounting**
All funds received in the year are unrestricted in their application, the Trustees having full discretion over their use.
## **Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustees have judged that there are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
## **2. Income**
|Donations
Big Shakeout Festival
**Total Income**
**3. Charitable Activities Expenditure**
Grants and awards
Big Shakeout Festival expenses
Administration
**Total expenditure**|2023
2022
£
£
173,825
164,983
30,683
-|
|---|---|
||**204,508**
**164,983**
2023
2022
£
£
130,573
111,632
30,638
-
61,181
16,100|
||**222,392**
**168,874**|
Analysis of grants paid (included in cost of charitable activities)
||2023|2022|
|---|---|---|
||£|£|
|General grants|130,573|111,632|
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## **Alpkit Foundation Notes to the accounts for the year ended 31 October 2023 (continued)**
## **4. Fees for examination of the accounts**
|Independent examiners fee|2023
2022
£
£
330
330|
|---|---|
## **5. Staff costs**
There were no staff or staff costs during the year. The trustees work approximately 2 hours a month on a voluntary basis.
## **6. Tax**
Alpkit Foundation is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly, Alpkit Foundation is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax charge arose in the period.
## **7. Debtors**
|Prepayments and accrued income
**8. Cash at bank and in hand**
Cash at bank
**9. Creditors**
Amounts owed to Alpkit Limited
Accruals for grants payable|2023
2022
£
£
70,202
70,202
**21,941**
**70,202**
2023
2022
£
£
21,557
21,557
**21,557**
**21,557**
2023
2022
£
£
17,941
-
21,419
13,607
**39,091**
**13,607**|
|---|---|
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## **Alpkit Foundation**
## **Notes to the accounts for the year ended 31 October 2023 (continued)**
## **10. Funds**
|**Unrestricted funds**
Balance at beginning of year
Net (deficit)/surplus in the year
**Balance at end of year**|2023
2022
£
£
78,151
40,900
(17,884)
37,251
**60,267**
**78,151**|
|---|---|
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