C'ompanj. Teyxtraliorl T1[.. 09614?26 Chanty re8iStration llLnber.. 116.1753 Epic Foundation UK Ltd (A company lirnited by gu8r8ntee) Annual Rert and Financial Statements lor lh¢ Year Eth 31 tkeember 2023 Flintham Mackenzie Audit Limited chl¢rEd Accountants and Statutory Auth"tors 277- ?79 Chisiviok High Road Lurmlon W4 4PU
Epic Foundation UK Ltd Contents For the year ended 31 Dtttmber 2023 Reference 8nd Administrative Lktsils TnLStees' R¢p)rt 2to3 Strategi¢ Rewrt Slaternent of TnLSt¢e$' Resp)nsikn"litics tndEpEnd£nt Auditor$' Ret 6t09 Statement 0(Fillal01 Activiti¢9 io Balare strt Ststernellt ot Cash Fknv3 12 Note$ to the Findtal Statements 13to24
Epic Foundalion UK Ltd Reference and Adminiytrative Details For the year ended 31 December 2023 Mr Alexandre MaT¥ Ms Myriam Vander Elst Mr chl¢S Prevost Suit¢ I 7thFloor 50 BroadwAy London SWIH OBL The charity 18 inoorFornted illEnslan(L 09614226 Retr8tlon f4ber Cbarlty ReOJtiion 1163753 HSBC City of Ltsll Br8n¢h 60 (een Victoria Sttwt London EC4N 4TR Auditt)r Flint[ M&cktnzie Audit L1rnitl Cb&rt6red AccouDtaJrt8 And Statutory Audito 277 . 279 Cl)i9ck Road Londo W4 4PU gel
Epic Foundation UK Ltd Ti'ustees, Report For the year ended 31 Deeembei. 2023 'rhL trLst%. ,hO are Lilbii direLtorb tor the piwses É)t the Cumpanies Act 20Q16, pr¥$enl reEXIrt the Iinan¢ial 51atcmcnts anLI aiiditors, rerM)rt of the chaTJh. lor Ilie veor enikd 31 DecemEer 2U23. 1.he Irusiees hai'e adoptrd the pr()Iqsii?ns of Accountin8 and Rctx)rting bi, Charili¥s". statement ot RL'commended Praclib¢ applifyable Iv cbaTlties prerMTing their ii¢¢ounts in aet0rdllL Illth the Financial Reptsrting .Siandurd applicable In the UK alid Republic {)[ Ireland IFRS 102) ieftrLli¥c l JanuaTh' 2015). Objettiles And a¢¢lvi¢i Objecls andoijp pio FoiwLdation UK Lirniled is a re8lStered Charilable organitiOn in the Unid KinB<&)m founded on May 29, ?015 iTrith the mission to siipwirt charirable and non-8oI-ernmLYital orBanisaiions iwludin8 biit not limited to thos¢ on child d¢TrElopm¢11t and Mrlfare and thc proieelion OF Ihe enTr'ir(mmcnt Epic foundation acc4)mplishes thL'S tnission either dyough ¢ontributions to any one or more ¢hatithblc or8anisatiottq or M. dLfLGt fuwn¢E. l¢Glllllcal or tnanag¥1 assistance. but in all events tor ¢haritsble putwses, and ty ¢ngatse in un}. other a¢iiTritics incidentsl there ti) or in adI.l¢¢m¢t of tlie fure8oin8 pufwbes. Epic Foundation UK is primdTilv I(Ue& on the kIng of sJants to sothal and eharitable ownisatii)n$ ihat promote the thanble al of Epi¥ Fowidati()n UK. &)cial Liwritobl¥ organi5Qtions ivill ahle to apply for llllt5 in accordartCL' iiith Epic Foun<Lqiion LK'S aI1t p)lici. In dctor(14nc¢ th Epic Foundaiiun's Grant tnaknng p)Iicv in 2011 Epic FO)datIOn UK has 8tantLd £1:164,7m in tutdins to 15 noA-prolLts iit¥tkin8 ]n 6 Countries gluiwllTr' to iinproN'¢ the lilt$ vf disadN'antaged children and yOh and the eniininment. The OrniSatiOnS 1C[¢ seleLted bv th¢ ¢xc¢utiTre t of Epi¢ Fi)undation UK in collahttrAtion Mith rese41rch conducted b), F.pic I'oulldations and subsequetrtlh" rei'ithi'ed and dpproi'ed by the Directors ()f Epi¢ Founthttson Objtt(¥ivu. stratye$ 4vNdudiipilies (saStIOnS supwrted Epic Foundation UK as grantees are cumtl}' worki1 io mtsk"c ft me&5urable impacl on topics including, but noi Ilted to". (a) Reducjng abuse, ne8lLcl and expluithtion ot'children and 'outh (bi Prc)tecting nkntal health Icl AdN?n¢ing gender equity. Id) P[Onting or adi'anLing the al future likelthoods of ehildrcn and youth (el Supwrtins communities fL8h(8 Wvertv In Proi¢clin8 the eniironinellt foT future 8cnerations Pubhcbenefit Th¢ trustces ci)nfImi that tky complied the requiremen15 of section 17 of tht C'harities Aci 201110 e due r¥gTutd i() IIIL public bcnLfit 1)da1]C¢ published b}. thb Chatity. Commissiun flir Ensland and WalLs. (dl I'he allns c)f IlL' or8iiniiation Lvnlinue to be chariiable". (bl'l"he aims and tli¥ i¥ork done identifle benefi to ts Lkniilable sector and both indirrctl) and dirt*tly tc) IndidlI18 in netd., lvl Th¥ Eencfiis for the public. arL not unreasonal)Iv reslricled in any iin). #nd ¢¢rtuinl}' rwt b), abililv iLI paTr': Idl Th¢re is no detrim¢n( i)r arising Irom the aitns actii'iliL¥.
Epi¢ Foundalion UK Ltd Trnsttts, Report For the year ended 31 De¢ember 2023 The ¢h9n'ty has £blished its W n)8 p)li¢y io dchieve its obje¢tives for the public IKnefit. Those allt kiw ar¢ c8Trfully con¥ideTed foT the tUre scoF of the recipie1,8 a¢tiiYtte8, the cknritys obje¢ts •nd the recipicnt'5 ability to prowly apply the wts towards th¢ aims of the The rep)rt &pprov¢dlry thr trustees of the charity on... .... .......... and sid on its t¢h&lf by.. d'l Fts%le Pag¢ 3
Epie Foundation UK Ltd Strategic Repoit For the year ended 31 December 2023 The tnters. iTtho are directors fgr the purN)5es of Comport la. present their strat¢gi¢ rwrt foi dLe year end¢d 31 Dnber 2023. in complionc¢ with s414C ot'the Compani¢s Act 2006. AthieveDxDts and perfornwiee The Qharity 5u¢cessfuily cattied out its objectives by makin8 grants and award5 in accordance with their obJ"ectiYes. During ts year. the charity Jn&dE 8fdnts of £1,164.700 (2022.. £1,076,549) a1 had related c08t8 for 0ratIonS of £422.306 (2022.. £340.888) to i?rious ownisations includio4 edu¢atiOT4 sports. health. social care 8nd othets. Fln#ndil revieTV The Irllstees ¢kli8hted to recei donations and legacies of £853.49) fro the Unit1 Kingdom. £669,276 from Europe. £104.766 from rest of the ivorl4 iyhich rnaik the lotal te¢eived of £1.627.532 for the year ended 31st tkcem&r 2023 {2022.. £1.763.236}. Of this £733.833 {2022.. £804,254) wa5 Testricted TotAI rEsour¢es elnded for the year Wds £1,587.005 (2022.. £1.417.437} and the cFJarity tan rqrt a net increase ill fund of £40.i27 (2022.. increase £345.799). Totsl urJrestri¢ted fund held a$ at the year en 3 1st Decemlxr 2023 £610.764 (2022.. £605,569) find total restrictal hI1held was £439,267 {2022.. £403.935). PtslKy on reserve The chprity ha5 Powtr tt> set oside in¢ome as 8 res¢rve agairn8t future exttnditute but only in accordance witb a itten Policy about reserves to wver admjnistr811 ¢OSt$. P14n$ for fure perlod$ Aimf andkry otj* ed1VOrmÉmp¢p¢II0ds The CO of the clmrity's objectives are to emp)wer a1 prote¢1 Childr youth alld our planet. The ch&riry will contsnue to Mrk with its key in the Epic IrkS and help more youn8 people. The strategic reFQrtIN8$ &ppfoTrEd by the tnthES of the clkqnty on . . nd SI on its behalf by.. xandTe M chai Li rs Page 4
Epic Foundation UK Ltd
Statement of Trustees, Responsibilities
Foi. Ihe yeai. ended 31 Deeember 2023
ThL' ttusiees (Ivho also Ihc dirLclors i)t F.pJc I'L)undTrtiiiii UK Ltd tiir the PLirtX)ies Ot CL>IMPLiny laiil ar¢
respinsiblL tor PTLyaring the t[USl$, rewrt and thc tinLillLiiil slatemL'nl% in acc()rdaiicL Ivlth ihc United
Kin
Epic Foundation UK Ltd
Independent Auditor's Report to the MembeiB of Epic Foundation UK Ltd
Oplnlon
We haiE Liudityl the linan¢ial stalcment> otr F.pic Fi)Il{l[L(l[l IJL Ltd (thL chariTr'l tor year ended 31
DecEmr ?023. Ikhich ciimprise die (¥l'Finoncial Actii'ities_ BnlJncL.Sheel. Siat¢Thcnt ot Ca%h Fli)iis,
and Notes tv Finanii<il Staletnenls, including sil1]ary. ol. bignilic&i)i aLc()unling px)licJcs. The tinancial
rLfrt)rtino
frnrt)¢iTriirk that has l)een applIed in Ih¥'iT yfLparaiii)n is United KingTd()m A¢Loutttin8 SianrdS.,
e()mprising CharitlL5 SQRP - fRS 10? The I ancial Rept)rtin¥ Slandatd api)llble in the IJK und RepubliL of
Ir¢kind' and applicablL lllii, IUnitLd Kinsdorn tiencnlly A¢oLPtLd Accounlins Practice).
This report is wlelN' i() Ihe cl]aritabl¢ ¢omrffjny's mEmbLY%. as a ixxJ}'. in a¢bordancL 14.ith CknptLY 3 01 Part
16 of the Companies Ati 2006. Our audit iiDrk ldertaken so thai iii migFhi slalt to thL charitable
compnnv's mcmi)er* thi)sc mattLrs lic are rtt4ued ta bli4 1¢ lo in art audit()es Tepi)rl and r()r n(¥ vihbr
pwp)sc. To the fullest Lxtcnt perni1ttL Liii., thi noi accLPI 01 as%un]e reswnsibility tlTr dn5.one vih¢r Ihan
th¢ ¢hurilablL Lompany ¥nd the charitable ¥onlnY,ts LncmlKrs ix)di'. lor QUF oudit iiDrk., for thi's F¢P)rt. ()r
fort opinii)DS httv¢ forni¢d.
In our opinion th¢ finoncittl stateinents..
gii"c a tru¢ and fa]r of th¢ blate of the chariti b atluirb as at 31 tk¢¢mkr 2023 i)f Its results iiir the
year then Lndcd.,
hai'e beL properly preparLrf in a¢cordan¢e ivith United Kingd()Tn (ienerall}' A¢¢ept¥d Accountill8 PraclicE:
and
haie bn pr¢porLJd in &cc¢)rdun¢¢ ii'ith thc requircmen¢b l)f tliL Companies Act ?006.
Basis for oplnlth
W¢ ¢onductcd our ll111 in accordance iiqth Jnlv5natii)nul LTrn Audilins IUKI IISAS IULII and
appli¥able laii. Our r¢¥y)nsibilili¢s under thi)8e %tandard% arL turther (¢Iled in AudiloT S Testx)nsibilities
Ii)r the diidit of th¢ financial sldtem¢nt¥ section ot. our rEkN)rt. Wu orc ]n
Epic Foundation UK Ltd Independent Auditoi s Repoi to the Members of Epic Foundation UK Ltd Other iTrformtion Thc tnL%tees arc rc5EK)nsiblL for t oth¢r iiiti)nltIon.-rhe other Infc)IIndlion cwnprises the irfomidtlL)n in¥lud¢d in the annuol ieport, other thlln the financial 5tatemcnt8 aiid i¥ur audili)r'5 rep)rt thcrei)n. ()pinivn (In the lll)ancidl atMentS d()es not ¢ov¥r th¢ vther int4)nnation an(L Lieept to thc cxtent othenwse explicitli. ¥lated in OUT TetK)It. 11¢ do not tpre$ ani, li)tm of assurance con¢lusi()n Ih¢reon. In connection iTrith our audiÈ ol'the fin&wial %taletn¢ll15, our rLswnsibility is to lead the other inlÉirmaijoii and, in doing $0. t(>nsid l1.hcdr the otheT intornwlion is matLrialls in¢i?n5i5tent ivith finaiicial slalement% or our knoii,ledg¢ iilAainLd in the uudit vi ot1lL1ie apr ti) b¢ malerially misstThttd If identity, such mai¥rial UOnSibLeD¢ies or dpparenl maleTial n)IssthieTn¢nlb-, 14¢ required to deteTtninc whether ihcre 15 a moterial i8statemcnt in the fInal&l slalenrnts- or a material misilatement of th¢ othet intonnation. It. ba]%Ld on thL 14K>rk M'e haN'¢ ttrtornied, c1)n¥11¢ that there is U tllulerial missLLiemeni ul. ihis it)fomiaiiun. iTre are required tv T¥tx)rt that ta¢t. We Ive nothin8 to reFX)rt in this regard. Opinion other matters pre8L,dbed by the Compmnles Ad 2006 In Ol Opinio ba8ed on the und¥"rtaken in the coursc of thL 8udit.' informlltiim l'cn in thc Strale8ic Rewrt 'frdstee5' RepK>rt for the l-]nancial Tr'eor f()r iv]ll"ch the financial statements arc PTcp&red is consistent ivith the fjnancial statet5. aml tFL' SITalegic R¢wrt and Tnxsl¢¢s' Report hLi¢ EL'en prepaTLxI in a[dance with applicable IL8al rcquirements. Matters on which we re re4ulred tv report bv ex¢¢ptioD In the 118lit of our knoii"led8e aiid uderstandIng ()f the CoinnY and its cnvironmLmt obtaincd in the toursE of the audit, Ie not iikntified rnaterial misslalemEnts in lh¢ StraieBlC ReFK)rt and the Trusits' Kewrt. We hai'e nuthin8 10 rewrt in respxt of the f(Illo1ig maticN ivh¥rc the Com1¢$ Act ?006 requires 10 rery>rt to )'oii if: in our opiniiin. adwuate aecountints [OrdS tmi'e not kcn Lept. or r¢iurrL% adequate tor VUT alt haTre not been re¢eANEd rrvTn branches not i'.isil¢db}' us. or thL financial %latements are not in agrcenent iith the acci)unlin8 r¢coTds and relwns; or cerlain disclobures 0l-tnleeb remuneration >l)rrilied bTr' laiv arc not madc" or have noi reccii'ed all th¢ inti)rmotJon and eNplanaliO% lie require ltsr au(ht. Responlibililies of tYu$lees A5 more tiilty tlic .sthi¢MLt of I'rustee5' RespL)nsibiiilies lsd uul on pige 51. Ihe irusteeg ore reswnsible fi)r the prcparatiÉ)n c)f thc financial thlctneirts and tor bein8 salistied ihat tliev gil'e a trLI¢ lair and for sii¢h Int1 control as IIK. trteL% de¢emiine is nLceJsary to enablc the preparolion of fJnanLial ststcnKnts that are Iree froni terial mibslateineDI. ii,h¢thLT io traudoi eTror. i preputing th¢ r[1]ar7aI %iLlteinciits. thL tru¥tcc% are rLsrx)nsible foT a55¢5bll)8 th¥ ¢hatils' s abililv to ¢'i)ntinuL as li gi)ing discli?sinu ab applicahlL. mnttLrs related i() 8OLll8 concem u5in8 ihe going tOTJ¢¥Yn balS i)1 accounting [lesS Ihv tru¥l¢¢s either intend iv liquidate thty hri or tl) (wratii)ns, or haie i]D realistic alietnntii'c but to do $0 PiigL 7
Epic Foundation UK Ltd Independeni Auditor's Report to the Members of Epic Foundation UK Ltd Auditor'5 respon$lbllilie5 for the Audit •f (h¢ (Inanelal statements (J]r vbjwtiirs are Ici i)biain reD50nablc $surAnt aLx)ut SiltIr the financial stal¥tnents as a ii.IM)le are free nmlerial misstat¥mEnt, ihether due to f1 i)r ¢)r, and tc¥ an auditl)T'S report tK?t include% i)ur opininn. Reasi)r&ible assuran¢e is a h]sb Ie1 ol. assuTance. bul is n(>i a (Tuaraniee thiTrl aiTdil ci)nductoJ accordancc iKth ISAS Iukl li?11 ali¥avs deleGt a material missi4n1 iTrhen it exisii Missl4i¢mcnls ari¥e from or error and orL' cÉ)nsideTcd materjol it. indiiiduallN or in the a¥eate. they could reasL)nablv be eipe¢ted to influcnce the e¢i)nornic deci8iott% of u5eT% taken i)n the basis Lif these financial sia(eLnenl¥. A¥ part of an audit in a¢cordance ividi ISAts- (UKI, eNer¢is¢ pwfLSsional judgement and rnainiain profL%sion&l 8cepii¢i%m throu8hÉ)ut the audit. We alsi>'. Identify and awss the risks of rnut¢tial misstatLTt)¢nt ol. the financiol sttAtemellts. iTrhether due tu fraud or eLTor. desiw and wfomi alldil prvcedures rtsp)nsivt to tliose risk-& and obtain &udit Ll'idenG¥ that is SLitlicient and appTowiate to proN'ide a Imsis for our op1ll. The risk- vf llot dLlecting a matcrial isstat•n¢ni resulting from fn)ud i% hi8her than foriine resultin8 trc)m eTt()r. as Lraud ini'.uli.e collusion, tor8ery. tnI10nal omission& misieprescniat10115. or the oi"Lrrid¢ of internal contrul. 01)thin an undersknndiL)g ol- Irlternal conirul t¢ltTr'ant lo the audit in order to d¢sign Audit procedure8 tha( arc apwopriatc in the cir¢uEnstance8_ but not for the c)feNpre5sillLt an opinion on the elfe¢iiiYness of the chariry s inlenml Wntrvl. Eialuale the appropTiatcness of accountill8 rM)lictes used and the rea5vbleneS5 of u¢¢ouniing estimotss and related disclo% madc bv the Inl¢CS. Ci?nLlude on th¢ appri)priaien¢ss of the irus¢¢<% use of the gc)inrN ei?ncem basis of &ccounling and: hased on the audit ¢N'idenc¢ i)htsined. Ivheiher a uncertaintj e.Kisl>' related lo ei'ents or conditiott% that ma}, cast SI&1r1¢allI doubt on the Ghority s abiliry lu ci?nlinue 2E S d Boing concem 11 11¢ bonclude thai a mJterial UYILLfiainty exists, lie are requed to draiTh attcntion in i)w audilor"s rert to the related disclosur¢s in the tinoncial sidletn¢nts i)r, if sh ditsclosures are inJLl¢qualL, IÉ) nM)dityi our opini(>n OL]T cnnclusiDns are Ew¥¢d 4)n thL' audit eigdence obtained up to the ddte ot our auditor s r¢EK)rl. Hoii"cTr'er. tlliUT¢ cvents or c()nditii)ns Ca$e the charity. ti) cease t() continue as a g()ing concern Evaluat¥ th< over4i11 presentaii()ii, structure and ci)ntcnt of thL tinuIicial statemets15. includin8 the di5closwes, Dnd ivl)ethcr the til)1( ncicil stuternaits re¢sent tlLe ]d¢[1)Ing transa¢tii)ns eNEnts in a TnannLY that achieN'¢s fair prcseiitatiort. Obi£iin tswffjcieni appropTiate audit evidence re8OT(Jing the tinancial infÉ)mwtion i)f the entities or business ctIVLIic5 iTritliin the charity. to express an i)PilliOll l>Q th¢ f]nancial state[5. Wc a tCSEX?iisiblc fur the direction. ond pertorrllancc of the LhaTitTr 4udit. We r¢TMLll le1}, respxmsible for out audit L)pinion. We ci)rnniunicat¢ ii'iih th05¢ churuLad ivith gtsi.ernkne r¢garding, &mtrng other nwtters, the pLinned scope and liming c>f thc a17[ and si8nJtiLonl audit findin85. incluth'ng Jni. bi8nifi¢ani dEficiLncies in inÉLrnal control that ideniif%. dunng our ttudit. Page 8
Epic Foundation UK Ltd Jndependent Auditor's Report to the Member5 of Epic Foundation UK Ltd Use ofour t*pfrrt This report is madc solely to the tharilable coTrpany's ttees, as a Ert)dv, in 4ccordanR th Chapier 3 of Part 16 of tlLe COMEnIeS Act 2006. (r audit work ha$ Eten unikrtsk¢n so that mi8ht state to the charity's tnlee$ those rnatters w¢ ar¢ requirsj to state lo them in an auditor'$ resK>rt and lor no other purpose. 'I'o the fullest extent pemutted by law. we do tM)t ac¢ept or Trsponsibility to anyone other than the choritable L'.% ab u Ixid!.. Ic)r our aiiLtit for thL'8 reixirt. or for tbt opinions we have fornied. Brij'l'antja (. '(Ir Jnd i)n IK. Aiiir Stdluio4 AuJ]"Ic?Tl ilt ol. l.'Itnthuin K".1l Audii Limited, StatOry Auditor Chartered Accounthnts and Ststytory A"torY 277- 279 Chiswick High Road London W4 4PU Page 9
Epic Foundation UK Ltd Statement of Financial Activities for the Year Ended 31 December 2023 (Ineluding Income and Expenditure A¢¢ount and Statement of Total Re¢ognised Gains and Losses) Unrestrf¢ted nds Regtricte Tot 2023 Note come and Endowment$ from: Donation& and leguciL Tothl income 893,699 731,833 1.6?7.j32 893,699 733,833 1.6?7,532 Exp¢ndi(ure on: Raising tunds Charitabl¢ u¢litieS (199.984) 1688,i191 (26,284) (67? ?17) 1?26,2681 [1.-160.7361 Tothl exrenditure Net income (888.503) 1698.501) (1.587.0041 i.196 3).332 40,528 Net Th)NEment in tunds 5.195 3),132 40,528 Rteonciliation of funds Total fun(L8 brought f0Thd Total cArtied lor4Trard 60i.569 4(k3.935 1.009.5n4 17 610.76) 43C),267 Restrict¢ Unri'%tritled ds Tot[ 2022 Note nd EndoHThnt¥ from: lknnations and ley¢ies Total incoTn¢ 958.982 804.2i4 1.763,?.16 J58.982 804,2)4 1.7(?3 136 Expendithre on: RaJsin8 funds Chdfltable ctitieS 1126,233) (i52_705) 152.4411 1686.0581 1178.6741 11 ?38,7631 Total expEnditLtre Net income 1(17X.938) 1738,4991 11.417,4371 ?80.O44 6i,755 345.799 Net moi"ernent in tu1$ ?80.()44 6i.7i5 345.7CJ9 ReconL,llkntlon of funds I'otal funth brou8hi fonkard Total funds ¢atricd forni?rd 325.525 3314.180 CI63.70i 17 i.5CI9 403_93i I.IM)9.i04 All of the Chariti s a¢tiiilies deri1 fft)tn ¢iintiniun8 opcrations the aknve Thvo [ld&. The tLuN15 bre8kJ)wi fur ?023 is shoiNn in TK)te 17.
Epic Foundation UK Ltd (Registration number: 09614226} Balance Sheet as at 31 December 2023 2023 2022 Note Flxed ss¢ts Tangible assets Current ss¢ts tkbtors Cash atb8nk" ond in band 247 493 12 13 258,241 834,136 175.091 895.41) 1.092.377 1,070,5(kS Credltorn: Ahmnts falling due wlthiTr fjneyear Net Lwrrent tIS 14 {42.5921 i(?1:495) 1,049.785 l.(K>9.011 Iyet assets 1.050.032 Funds of Ihe charity: RestJiet¢d fndS Restrict fl 439267 403,93) Unrestricted fithds UnT2Stricled funds 610,765 605.569 Total fwids 17 1.050.032 1,009.i04 anci&il stai¥inI c)n pugc% Iii til 24 iiLre apFr(Iiid bi. thL trust. and auth1)ris flir s*8 L)n
i&JLsd i>n thLir EK'half lD". Chairn)an d'l"TU Pa8e 11
Epit Foundation UK Ltd Statement of Cash Flojvs foi. the Year Ended 31 Derember 2023 2023 2022 Not¢ Cash flowi from fjp¢r4ting xtivities Nel cash incoll 40.528 345,799 Adjustments to Lxih flows from DOn8$h Itern¥ tkpTe¢iauon 246 246 40,774 346.(W5 Working capital ¥IdJttneThts Increase in debior5 LkGrease in creditor5 12 14 (83.1501 118.9031 137,392) Net ¢ash flow5 from 0FratIng &CtiFiti¢s Cash Iloivs from inwestlngAdivities Purchase of ran8ibl¢ fLxed assets (61.279} 297,i17 (740) Net (decrease)lincrease in cfrsh and cash equiiilcnts Ca5hand cash w1£15 at l Jalluary Cash and ¢ash equiTralents at 31 Dtt¢mttr (61.279) 296.777 895.415 598.638 834.136 895.415 All of the cath flows are derived from ¢ontsniiin8 operations durin8 the atx)v¢ hv(p FTiod& Pa8e 12
Epic Foundation UK Ltd Iyoles to the Financial Statements for the Year Ended 31 Deeember 2023 I Charity stalus The charity is limited by 8uarant, incorN)rated in England, and con8¢quentt)' does mi have share capital. Each ot the trust¢¢s is liable to Contribute an>t rK)t &Nceedin8 £1 toWd$ the assets of the charity in the event of liquidatioJL The address of tts rwstered otTi¢e is". Suite I 7th Floor 50 Bn)8dway LoT¥lon SWIHOBL 2 Aetountlng polioi¢s of significant &CLUntIng policie8 and key aecMhting¢stimate5 The pnncipal accounting liCleS applied in the PWaTation of tbese fJnan¢ial statements are set out lOw. These p)licies have t¢en consistently appliedio all the years presented. nIC5S OtherSe stated of Complian The tIncIal statements hav¢ ten ptcpared in accordance with A¢¢otIng and R¢FQrtin8 by Chan'ti¢s.' Staterllent of knommended Practice appli¢able to charitles Ixyrin8 their a01[5 in accordance with the Financial R¢p)rting Stgndard applicable iti the UK and Republio of Ire12nd (FRS 1021 (effe¢tiTrE l January 2015) - (Clkqritie$ SORP (FRS 1021), the Fillancial Rewtin8 Standard applicable in th¢ UK and Republic of Ireland (FRS 1021. Tkny also comply witlL the Companies A¢t 2006 and Ch&tities Act 2011. B&$ls tsf prEpar4tn Epic FouThlation UK Ltd Tneets the defmition ol. a public iEnefLt entiry der FRS 102. Assets and liabilities are initially recowed at hriGl cost or ttansaction value unless stated in th¢ rcl¢v4llt accounting )li¢y Th)tes. Going effli¢trn The financial ststerllents have been preparedon a going ¢oncern b4si$. As at the date of thi$ report, the tn]siees Consider the charity to be r¢silienl considerin8 its healfy fule181 EK151tion th Contin8 donations Eeing received. the support of the trustees atMI robust ¢hariiable continuity plan& Notwithstand]n8 thL5 the tn]stees re¢ognise an IreASed level of erta]thty over tILe strt temi optK)rtunities and are continuously ¢valuatin8 the risk.s of ¢COTK>mic factors as they ullfol The trteeS believe that there are no Tnaterial uncotsinii¢5 eff¢cltll8 t1 charit% s ability to continue a5 a 80in8 concem nor any significant eaS of concern that afft the Caing value of the at5 F¢¢ld by the Charity. Incon and endowmeTrts All incomt is re8$¢6 ouce the charity ha5 entidement to the incorne, it is tffotthble thot the OMe will be received and the amount of the IOMe receiN'able can be nL1 reltab]y. Pa8e 13
Epic Foundation UK Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
Donations and kgades
11)natic>ns are Tecn8nks¢d I1¢ll li hit& 1kns1)een ni)lifiLd iii iiTitillg ol'bi)th th¢ 4)1 ld tsLttlLmLnl di?te.
In tlK' ei'eiil Ihol a di)i)iltii)n is sul4'Ltit to ]ndit]n5 IFL1t reLiuifL' d l
Epic FouThda¢ion UK Ltd Notes to the Financial Ststements for the Year Ended 31 De¢embei' 2023 DepTtddon #nd knirtisation tkpre¢ithtion is provided on tangible fixed assets so a$ to irit¢ off the cost or valuatioll, less any estiTnad residual value, their expected sefUl eCo)mit life as follom's.. Asset eJasJ otYi¢e Equipment Depreciatio DeptIon method and rnte 33Yo Straight Line Method Cx$h #nd fash equivalenti Cash and cash equii?lents cornprise Gash on ha[ and Call depo$il$. and other 8bort-tem] highly ]iquid inv¢sttnents that 8re readily conTrErtible to a knowi arnount of cash and arc 5ubj¢ct to an insignifi¢ant risk of ¢haT¥ in val. Forelgn exehang¢ Transllctions in forei8n cufTen¢ies are recorded at the rate ot. exchange at t dat¢ ol. the trallsactiorn Monetary asset$ end liabilities d¢nomin4ted in forei curreneie5 at the balan¢e sheet date are reportcd at the rates of exchan8e preil]ng at that dat¢. The resu]ts of overseas opeiations are trdnslatd at t avera8e rates of txchaTJ8e dun'n8 the Fri(xl 8nd their tlance sheets llt the Ttes nJ]in8 ai the balance sheet date. Exctw]ge differences 4ri$ing on translation of th¢ opening nel asset$ aJLd results of overscos 0rationS are rwrted other cOmpenSIVe coMe dnd atcumulated in equity lattritwivj to noo<¢mtrollin8 interests as appropnate). OEh¢r excknge diff¢r¢rLces are reWlS¢d ill the Statent of Finan¢ial Activitie$ in the period in whi¢h they arise except for". 11 exclwwe dityerertes on transactions en*red into to hedge tta]n fo18 currency risks (see alx>i'e); 2) &xchallse differences arisu]8 on gains or 1055e5 on non-m0[stV items which are r¢¢o8nised in otljer ¢omweknive in¢om¢: and 3) in the case of the cort%olidated fjnancial slalrTn¢nls. eNcban8e differeTKe5 on monetary items receivable from or payable to a forei OFtration for whi¢h sclllcment is neitheT Pla[ed nor Ilkely to o¢¢ur ItIMeEore foTming part of the net im'estsneni in forei8n 0&¢10), which are recOls¢d in other comprehEn5ive ItMe and [tE¢d under equtiv. Fund strneture Unr¢stricted iwm¢ funds are selle1 funds for OFtrntions (FgrTtlc and 80veall¢e} as well as non-earnwked donaiioDS for ntmakIng, to ix allwaied at the trustees's dIretiOn in turthe[ae OE the obj'ectiits of the cbarity Restri¢t¢d incorlle fuThl8 are tlK)5e donated for use in 8 5Mrticular ar&L or for SFe¢ific purp)ses, the use of Thbi¢h Is r¢stri¢ied to that ar¢a or PLllPOSe. Page li
Epi¢ Foundation UK Ltd Notes to the Finall¢ial Slatsments for the Year Ended 31 December 2023 P¢n$lons and Other post retirement •bllgatlon$ The chrity or£rates a defind ¢ontribiTtion Fension stheme whith is a peTLsion plan uleT which fixed contributions OTf paid inlo a pension fund and the chatiry has legal or con$tru¢tive obl[tion to pay fllrtlr contributi()n$ 'en it. tlie [[ does rK)t hold sUtli¢it assets to 5. all employee$ the etit8 relatin8 to empioyEc s¢Tricc in the culrent and prior periods. C)tritios to d¢fmed contnbution plans are teco8nised Jll the Siaternent of Finan¢ia] Aciivitses when are th. tf contributionpayn*nrs exceed the contribution foi s¢rvicc. the elcess is reco8nised as a prepayrnent. 3 Incotne from And l¢8a¢l Unreslricled tlthds Restrltt Total 21123 Total 2022 Gener•1 Lhnations and le8atie5' Donations tr(>m Indiiiduals 893.699 733.833 1.627,532 1,763.236 893,699 733,833 1.627,5?2 1.763.236 4 Eipendlthre on rni81ng fwids Costs of genorntlng donations and kg4cies Unrestrleted fund3 Restrieted lId$ Total 2023 Total 2022 Gener41 Note Fund roisin8 events AIIoc4ted suptx)rt ¢L3Sts 55.819 144,165 26.281 82,100 144,1()8 4i.S()9 132,76) 199,984 26,284 226,268 178.674 5 Expendithre on th4rit4bie aetlvlrfe$ Page 16
Epie Founda¢ion UK Ltd Notes to the Financial Statements for the Year Ended 31 De¢ember 2023 Unrestrieted nd* Rtxtrieted fund$ Total 2023 To¢ai 2022 Gen¢rnl No Grant fuJ)ng of activities Ailucated 5UPPOrt ¢o$ts Governatte cost5 492,483 146.656 49,380 672.217 1.164,7(K) 146.656 49.380 1.076.549 120.232 41,982 688.519 672.217 1.361),736 1.238.763 Unrestricle d$ Re$trlet¢d Total 2023 Total 21122 CenerRJ StK>rt$ Health EdutIO[L So¢ial care Others 53,000 7216 26.071 337.951 264,281 li.(KK) 93.084 237.129 226.049 100.955 68.IMJ) l(M).3(K) 263,200 564.000 365,236 I.272 84.913 522.648 263,038 177.892 688,i19 672117 1.360.736 1.238.763 Pag¢ 17
Epic Foundation UK Ltd Notes to the Financial Statements for the Year Ended 31 December 2023 6 Anafysis of rnising funds support w$tsy govern4nce diaritsble Bupptsrt eosts Support cost& Allocated to r*iskng fund8 Unre81ricl fund$ Rutrk¢ed nd5 TotAI 2023 Tot41 2022 General Offi¢e eyttL%es 568 359 359 Wa8es and salaries Sthff NIC {Employer5) Pension ¢ost Trnv¢lling 9),154 9.)90 2,528 6,466 3.666 1.319 968 12.96l 66 47 10.762 2.724 10.762 2.724 7.6il 182 2,572 13.407 7.6il 182 2,572 13.407 TraLk SU¢riptiOn8 Consultancy fees Bank" clwges Bank ¢hSe5 (Xher IKnefits i18 3.311 144,165 518 3,311 144.168 132,76) Govern¢¢ co$ly The 2023 fmancial statets include costs ithi¢h are corn(ly allocatyl any)nw fthLdrAisin8, governan¢e and supw)rt cate8ories as thB delinitions i]k the Not¢5 to the Financial Ststements lor tbe Year Ended 31 tkeellthr 2023. UDre8trftted fimd$ Tot 2023 TotMI 2022 General Sthff ¢05t Wa8es and sa]#ri¢$ S11 8ecurity ¢ostS Pension costs Other ststT cost5 Audit fe¢s Au(h"t ot. the fLtJancial Statents Other tees paid to auditors Other 8ONEman¢¢ costs 12,149 {8.3831 255 2.098 12.149 (8.383) 2)5 2,098 396 10,?57 8,41KJ 24,604 10,257 8,400 24,604 9.600 10,760 21.226 49.380 49.380 gll,982 Page 18
Epie Foundation UK Ltd Notes to the Financial Statements for the Year Ended 31 Detember 2023 202J 21122 aiitAble wpport eosts Wa8es atul salaries EntertameTht Staff NIC IEmploycr5) c¢ benefits Pension cost Tra1118 71.967 233 6,855 1.427 .315 5().lJ48 j.(b5? Trade subscriptions Consu]tsn¢y fee5 57.250 146.655 7 Trnjttts rnwneration and penSeS There iveT¢ no tnJsi¢e$ reruuneration or other ttn¢fLts for the year endd 31 DEceTnber 2023 n(x for tbe Jear ended 31 tkcember 2022. Trnstetst Exwses £4,399 was in¢urred for travel and a¢¢omTTKthtion for Ms M VaJkn4et El as trustee's travel eX)Se$ for the ye8r ended 31 DeCeIr 2023 (2022.. £7.132) 8 Staff eosts The a88rega payroll eosts as followd.. 2023 21122 Staffeosts the yur were: Wa8e$ Salan"es Social SurIty Costs Pension Costs ClhEr staff costs 186.227 9,235 4.691 6.836 l52.lQ2 15.242 4.245 206.989 171,i89 The rnonthly avera8¢ llLunlKr of [rnS (includin8 senior rnaDagem¢nl team) employa by & charity dwiti8 tiR year expressed as 1] titnc equiv2]ents as follo13.. 21123 2022 Average nwntr ot ernplo}'ees l employee re]ved enK)Iw)Nit$ of rnore than £50,(KM) dutill8 the year. Pa8e 19
Epic Foundation UK Ltd Notes to ihe Financial Statements for the Year Ended 31 December 2023 9 Audltorj. mnerAtion 2023 2022 Audit ofthe firnNial btateynLmts 9.6(Xl Paue 20
Epie Foundation UK Ltd Notes to the Financial Statements for the Year Ended 31 De¢¢mber 2023 Thc auditors cbar8ed £4.8(K) for wn-audit s¢rvice5 12022.. £6,OCK)) arKI anassociated fM charBcd £3.600 (2022.. £4,760) for other accountancy seTh'ices. 10 T¥Jxatlon The ¢harilTr' 15 a ie8iStered ciwity and 1$ therefore exernpt frotn taxatio 11 Tangible fixed lets Furnl¢ure And equipment Total Cost At l Janu8ry 2023 740 740 At 31 De¢¢miEr 2023 740 740 Dtpreeig4tion At l JauuaTr 2023 Charge forthe yeBr At 31 Decetnlrr 2023 247 246 247 246 493 493 Net book valu¢ AL 31 DecemEtr 2023 247 247 At 31 DettmEer 2022 493 493 12 Debtorj 2023 2022 Trad¢ debwrs ents (hher debtors 2>7,324 917 174,S89 500 2)8,241 175.091 13 Cash o)sh ¢qulv*krtts 2023 2022 Cash at banL- 834.136 895.415 14 Creditors: nllt$ falling due Tylthin one yeAr Pa8E21
Epic Foundation UK Ltd Notes to the Financial Statements for the Ended 31 Detember 2023 2023 2022 011 tAxation md 1&] seGwity Oth¢r ¢LEdito Accruals 3,745 20.542 1&305 3.981 32.189 25.325 41592 61,495 15 Penslon and other 8theD Defilled cwtslbun The eh8rity ¢)F¢rates a def ¢ontsibution pensiott schern¢. The wjsion cost clthtge for tbe ye4r r¢pre8Ents contributions Wdyable by th¢ charity io the xheme and 8mowht&J 10 £4.691 Q022-£4.245) P48¢ 22
Epic Foundation UK Ltd Notes to the Finaneial Statements for the Year Ended 31 Deeember 2023 16 Other finaneial eommi¢n)tnts GrxntconuThtDxnts 2023 2022 Note Totlkl ¢0Mlt£T A7 Funds Btance #t 31 D¢Mber 2023 Incoming ReJouTeeJ expended Jnuary 2023 UnrHlricted funds Gtneral 60i,i69 893,699 (888,5031 610.765 Rextri¢ttd fimds 403.935 733,833 1698.5011 439.267 T(¢al 1.009,504 1.627.532 I l.i87_(KH) l.OiO,032 Balanee at 31 December B81Ce at I Janknary 2022 Incoming Resour¢r$ expeDded 2022 Unrcstrlcted funds GeTJeral 325.5?5 958,98? (67%,938) 605,i69 Re3¢Tleted 138.180 804.2)4 (738,499) 403.935 Total 663.705 1,763.236 11.417.437) I,(K)9,iJ4 18 kntysis of a$$ets between fund5 UTrrestricled funds R¢8ttl¢ttd nd$ Total funds 2023 Tangible fixed assets Cuet as¥¢ts' CurrLml liabilities 247 245.)97 142,i921 847.080 1.09? 377 142:il)21 TL)lalnet ossets ?02 (J j2 847,080 I,U50.032 Pa8e 23
Epie Foundation UK Ltd Notes to the Financial Statements for the Year Ended 31 December 2023 Unrutiicted funds Re$lri¢ted funds Total 2022 Gen¢rnl Tan8ible fixed at$ Current assets Curt¢ni liabilities 493 102,614 161.4951 493 1.070.5C6 967.892 Total net a85et$ 41,612 967,892 1.009.504 19 Analysts of ne¢ AÈ31 December 2023 A¢ i JanMry 2023 Fhandng Cash aibankand in h8tJd 895.415 1(11279} 834.136 Net fimd5 89i,415 161.279) 834,136 At31 Dtcember 2022 At l JaDUF4ry 2022 FthTreing C8sIL at and in h&nd 598,638 296,777 895.415 Net fu]Kls 598.638 296.777 895.415 211 Related party tr&nsa¢tioni Durin8 the ye4r 2023 tFK charity the followin8 relatedwty tranwtions.. la) The trustee Mr Alalth Mars together Mqtb entiti¢$ associated with him donated £179.574 (20*2.. £354.221) durins the year. (b) Epic Foutmlaiion UK received £IO.(KK) from Epic FraNe in accordan¢e with a Service zyeernEnL (cl During tk year. Epic Foutmlation UK disbursed tWL) 8rants of SIO.000 and $50.(KX) to tTr tndian or8anis&tions on behalf of Epi¢ US. E¢ fouts42tion UK ]ncUrr a forei8TL exclwjw lo of £2,044 due to the Pa55 through tran110 Page 24
Epie Foundation UK Ltd Detailed Staiement of Financial Activities for the Year Ended 31 December 2023 2023 2023 UntrIcte funds RestrKted fund$ Total 2022 General Income En4hwmehts fro tkinatiolls and legacies lonalysed below) 893.699 733.833 1.627.532 1.763,236 Toral irLcorne 893.699 733.833 1.627,532 1.763,236 Exp¢n(lilure on: Raising funds (analysed txlowl ChAritable activities (allalysed 101) Total expenth'ture Net incom¢ (199,984) 1688,519) 126.284) (672,217) (226,268) (178.674) (1.238.763) (888.503) 161)8.iVI) (1,587.004} (1.417,437) 5.196 40,528 34i,799 Net moven*nt in funds 5.196 35.332 40.528 345,799 Reeonclliation of thbd5 Total fLllJd8 FKou8ht foniwd Total fLuth c4uried foTwurd 605.569 403,935 1,009,i04 663.705 610,765 439,267 1,050.032 1.009.i04 Pa8¢ 25
Epic Foundation UK Ltd Detailed Statement of Finaneial Activities for the YeAI' Ended 31 Deeember 2023 2Q23 2023 Unre5trlcted funds GentrAI fimdj Tthtal 2022 DonatioFts andlegrties COntritIOnS lrtslTlCtcd) ContritIOnS (gift in kind) Contritons (UDrestsicied) 730.182 3.651 730,182 3.651 893,699 893,699 9)8,982 893,699 733,833 1.627.532 1,763,236 2023 Unrestrfeled nds 21123 Re$¢rictcd fund5 Total 2022 Ceneral Tol*l Raisingfund5 Office experjses EvBnts & Sutnrnits Events & Swnrnits (568) (26281) (26,281) (55,8191 1359) (102,111) 110,762) 12.724) 145.909) {55,819) (359) Wag¢s and salaries Stsff NIC (Emplo}'ers) 195.li4) 19.590) 12.528) (6,466) (3.6(6} (1,3 19} (968) 112.961) 166) 147) {10.762) 12,724) Pension ¢ost Travelling TraNElling {7.651) (182) {2:i72) (13,407) {7.651) {1821 Q,572) 113.4071 {3) {5181 Trade wbs¢riplions Consultancy fr£s Bank charges Bank" charges Other FKnefits {3) 1518) 1199.984) (26,284) 1226.2681 (178,6741 Pa8¢ 26
Epie Foundation UK Ltd Detailed Stalement of Finan¢ial Activities for the Year Ended 31 December 2023 2023 21123 Unr¢s¢ricteil funds Restricted funds TotAI 2022 G¢n¢r Total Cknrtsqble4diiyti Grants (restritied) Grants (Lq]restricte(t) Entertainment Wag¥s and lan¢S StstrNtC (E.mployers) (6722ITJ (672.217) (492.483) (233) (71,968) (6.8)51 (1.315) (6.608) 1686.0581 (390.491) (492,4831 (2331 171,9681 {6.8)5) (1.315) {6.6081 (56.9481 (i,651} (1.3211 (2.1911 1621) 15(M)) {53.0(M)I Pe10 cost Ttavelling Insurance Trade 5LLbscriptii)ns Consulrancy fees Other t*nefits otlice exFtnses Entertainment A¢countanc}' monthly fees Auditols fee5 A¢¢oullIaY an1 lees Eichan8e gaiTrqoss Wa5 and salaries SralYNtC (EmpLoy¢rs) {I,000) {57.250) (1,427) (1,795) (241) (3.6(K)} 110.2i71 (4.81X)I 12.7751 112,1491 8,383 (2))) 11,648) 14,346) (1.0811 12.197) (2.013) (1.000) 157.2501 11,427) (1,795) L241) 13,600) (10.257) {4.8(M)) {2.775) (12.149) 8,383 (255) (1,6481 (4.346) (1.0811 (2.1971 12.013) (5721 {2081 14,760) (9,600) {6.(K)O) Pension cost Staff rccruitrnent Travellin8 1396) (4.846) 11.8961 Trade sul)scriptiOn5 Advertisin8 Le8uI and professional Eee5 Bank ¢har8es DepreciatLonof offi¢e equipment Oth¢r IefItS (8901 {11,3761 {5581 16331 (2471 (9.271} 19271) (639) 1246) 14iO} 11,360,736) 1246) 1688.5191 1672.217) 11.238.763) Page 27