Charlty number: 1164650
THE ASSIST FUND
{A Charitsble Incorpordted Organisationl
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30JUNE 2024

THE ASSIST FUND
Contents
Page
Contents
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees, Report
Auditor's Report
8-11
Statement of Financial Activities
12
Balance Sheet
13
Statement of Cash Flows
14
Notes to the Financial Statements
15-22

THE ASSIST FUND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR
ENDED 30 JUNE 2024
Dispensation
The names of the Trustees are withheld in accordance with formal dispensations as required by section 10131
of the Charities IAccounts and Reports) Regulations 1995.
Charity registered number
1164650
Principal office
PO Box 62849, London, SEIP SAE
Investment Managers
M&G Group, 10 Fenchurch Avenue, London, EC3M SAG
CCLA, l Angel Lane, London, EC4R 3AB
Solicitors
Charles Russell Speechlys, 5 Fleet Place, London, EC4M 7RD
Bank
London Drummonds
Auditor
Moore Kingston Smith LLP, 9 Appold Street, London, EC2A 2AP

THE ASSIST FUND TRUSTEES, REPORT
YEAR ENDED 30 JUNE 2024
The Trustees present their annual report together with the financial statement5 of The Assist Fund, a
Charitable Incorporated Organisation, I the CIO") for the year l July 2023 to 30 lune 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The CIO was incorporated on 2 December 2015 with charity number 1164650. The CIO is governed by its
Constitution document. A predecessor charity, Assist Fund, charity number 25419, was established by a Deed
of Trust dated 13 September 1966. During the year ended 30 June 2017, the assets and activity of the
predecessor charity were transferred to the CIO, in accordance with the Charities Act 2011. The CIO operates
from the same principal address.
Trustees
In accordance with the CIO'S Constitution there shall be a minimum of two Trustees.. there is no maximum.
The Board comprised 11 Trustees in the reporting period. The names of the Trustees are withheld in
accordance with formal dispensations as required by section 10131 of the Charities (Accounts and Reports)
Regulations 1995.
Trustees may appoint another or other Trustees at their discretion by resolution at a properly convened
meeting of the Charity's Trustees. A Nomination5 Committee will be formally established comprising up to
three current Trustees and a selection process will be conducted. Recommendations will be proposed for the
Board's ratification.
The Charity's financial year runs from l July to 30 June and the Trustees meet four times a year to oversee
the strategy, policies, governance and investments of the CIO. The day-to-day running of the Charity IS
delegated to the Chief Executive Officer, staff and Trustee-led committees made up largely of unpaid
volunteers. The Charity not only awards grants, loans and benefits to eligible beneficiaries to achieve its
purpose of preventing and relieving poverty but it also promotes the efficiency of the Service through the
provision of well-being and morale enhancing initiatives.
Risk Management
The Trustees regularly review the risks to which the Charity is exposed and the systems which have been
established to mitigate them. The principal risks include loss of invested funds through poor management or
adverse financial climate,. loss of funds through financial or administrative fraud or malpractice,. and
reputstional damage through failure to ensure compliance with changes in legislation and regulations. The
Charity remains alert to the threat posed by widespread health issues and has learnt and recorded lessons
from the Covid-19 pandemic. As with the previous two years the increase in the cost-of-living continued to be
the most significant external risk factor to our beneficiary family. The Charity responded with additional
support to combat the elevated costs of childcare, travel and energy.
OBJECTS AND ACTIVITIES
Objects
The Objects of the Charity are to promote the efficiency of the Service by providing support and assistance to
its personnel, past and present, and their dependants and to provide for the relief of need amongst
beneficiaries and their dependants.

THE ASSIST FUND TRUSTEES, REPORT
YEAR ENDED 30 JUNE 2024
The Charity achieves its purp05e5 through the makin8 of payments, 8rants, loans and benefits to the said
persons, and their dependants, who are or have been employees of the beneficiary organisation and its
associated organisations and who may stand in need of such assistance. Furthermore, initiatives to enhance
the morale and well-being of current staff, outside the responsibility of the beneficiary organisation, are also
considered.
Attivities for Achieving Charitable Purpose
The Charity has three delivery Committees.. the Financial Assistance Committee; the Development
Committee,. and the Friends Committee. The prevention and relief of poverty work of the Charity is primarily
undertaken by the Financial Assistance Committee, led by two Trustees, administered by two welfare case
officers, and supported by unpaid volunteers. As well as the cost-of-living challenges we have also noticed
the deleterious effert5 of relationship breakdowns not only in terms of emotional health but also in terms of
financial well-being. As the restructured support measures introduced in 2023 are working well, they have
been retained throughout 2024. But further support measures have also been introduced in order to help
retain diversity in the workplace through childcare cost assistance. Other targeted initiatives have focused on
travel cost support to help former and current staff afford the cost of travel in order to maintain contact and
friendship with family and friends thus combating social isolation as well as supportinE those in fuel poverty
with a monthly grant throughout the winter months. The Development Committee is responsible in the main
for introducing and overseeing morale and well-being initiatives designed to promote the efficiency of the
current staff members. The demand for its services continues to Erow and it has plans to ensure the impact
of its services are focused correctly on those most in need of skills development. The Friends Committee
friendship network, designed to counter the adverse effects of social isolation through enhancing the morale
and camaraderie of the former staff community - as well as aiding in the identification of those in need, has
now passed 1,000 members. Each committee has delegated financial authority aEreed annually by the Board
of Trustees= grants and loans above a fixed threshold or over and above the agreed authority are referred to
the Board of Trustees for approval.
PUBLIC BENEFIT
The Trustees confirm that they have complied with their duty to have due regard to the public benefit
guidance published by the Charity Commission in determining the activities undertaken by the Charity. As
well as implementing a programme of regular training in all aspects of being a good trustee for members of
the Board it has also introduced a thorough Trustee induction programme.
ACHIEVEMENTS AND PERFORMANCE
Review of Activities
Before the revaluation of investments, there was surplus income over expenditure for the year ended 30
June 2024 of £257,881 (period ended 30 June 2023
surplus income over expenditure of £243,500). The
revaluation of investments for the year gave a gain of £1,328,333 12023 - loss of £31,031). After that
adjustment, the result for the year was surplus income over expenditure of £1,586,21412023
surplus
expenditure over income of £212,469).
Other contributing factors to this result were legacie5 of £1,234 and donation5 of £502,014 (including one
donation of £125,000112023 legacies and donations total - £346,351), investment income of £731,62512023
£660,278), offset by grants to beneficiaries of £731,27912023 - £582,611), other support costs of £164,377
12023 - £133,805) and governance costs of £23,89912023 - £20,161).

THE ASSIST FUND TRUSTEES, REPORT
YEAR ENDED 30 JUNE 2024
Once again, through the introduction of the new initiatives, the Charity continued to respond to the current
need5 of its beneficiary family.
Individual grants and regular grants totalling £210,5CX) were awarded to 39 beneficiaries and £520,799 was
paid in Brants for staff initiatives.
At l July 2023, there were $6 outstanding loans to beneficiaries totalling £260,37912022- 61 loans totalling
£230,367). During the year, 13 loans totalling £20,306 were repaid in full or converted to grants. Four
balances totalling £24,055 were written off or adjusted after a review covering recoverability. Assistance to
the value of £200,504 was provided to 48 beneficiaries and their dependants, made up of payday loans, rent
deposits and long-term loans. Partial repayments of £100,082 were received on outstanding loans resultirbg
in 83 outstanding loans to beneficiaries at 30 lune 2024 in the amount of £316,440.
The Trustees are pleased to report that the Charity has had a strong beneficial impact upon those within the
Assist Fund family Icurrent and former members of the beneficiary organisation and their dependantsl,
helping all those in need of charitable assistance. By doing so, Trustees are assured that the Charity, through
its work for its beneficiaries, is adding to society as a whole. The cost-of-living crisis and its impact on the
beneficiary family has become a significant focus for our activity.
RESERVES AND INVESTMENT POLICY AND PERFORMANCE
The CIO'S expenditure continued to be funded throuEh donations, legacies, proceeds from small-scale
fund-raising activities and investment income. Investment objectives coupled with other income generation
generate sufficient income to meet current expenditure. The Charity has adopted a risk-based approach to its
reserves identifying investment income as the main risk to achieving its charitable purposes. Accordingly, the
level of reserves is set at £2m which has been assessed as sufficient to achieve its charitable purpose should
investment markets suffer prolonged falls in value. The Trustees review the Charity's reserves in light of
Charity Commission guidance and will continue to adapt and develop the Reserves Policy as the Charity
grows.
The Charity, in accordance with its Investment Policy, has adopted a risk-based approach to its investments
which are held with CCLA'S COIF, the CCLA Deposit Fund and M&G's Charifund.
On reviewing the Strategic Risk Register, Trustees remain satisfied that appropriate steps have been taken to
lessen the threat to the CIO'S investment portfolio through diversification of funds with an appropriate risk
level and that sufficient measures are in place to prevent financial or administrative fraud or malpractice and
to ensure compliance with recent changes in relevant legislation.
FINANCIAL REVIEW
Going Concern
After making appropriate enquiries, the Trustees recognise that the CIO has adequate resources to continue
in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern
basis in preparing the financial statements. Further details regarding the adoption of the going concern basis
can be found in the Accounting Policies.

THE ASSIST FUND TRUSTEES, REPORT
YEAR ENDED 30 JUNE 2024
The Trustees are pleased to retain a responsive and flexible approach to meeting the needs of its beneficiary
family.
In making the assessment on whether the use of the going concern basis is appropriate, the Trustees have
considered not only the impact of the hike in the cost-of-living and the longer-term effects of the pandemic
but also the other threats facing the Charity's beneficiary family , such as the emotional and financial toll
taken by relationship breakdowns. Trustees are satisfied that the substantial reserves and liquid assets held
by the Charity justify their belief that there are no material uncertainties that cast significant doubt on the
Charity's ability to continue as a going concern.
Fundraising Practices
The Assist Fund relies principally on investment income, charitable donations and legacies. It does not
conduct direct mail, telephone, text, television or other kinds of public fundraising. It does have however a
fundraising policy in accordance with the Fundraiser Regulator and Charity Commission guidance.
PLANS FOR FUTURE PERIODS
In recognition of the adverse effects of the challenging economic climate the Charity, in 2023-24, introduced:
Measures to support those members of its beneficiary family with young children throughout
the summer holiday period,.
A support Erant to help ease the financial burden associated with full-time childcare and thus
assisting the diversity of the beneficiary organisation's workforce,.
Funding to enable its entire beneficiary base to better afford to travel to see family and friends
thu5 removing potential causes of social isolation; and,
An energy grant to support those facing fuel poverty during the winter months.
Plans for 2024-2025 include:
Continuing the support measure listed above,.
To provide financial support to those members of the beneficiary family finding themselves
relocated at short notice owing to external pressures,.
The diversification of its income generation streams with a GAYE scheme and a legacy
campaign.
TRUSTEES, RESPONSIBILITIES STATEMENT
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice). The law applicable to charities in England & Wales requires the Trustee5 to prepare
financial statements for each financial year which give a true and fair view of the state of affairs of the CIO
and of the incoming resources and application of resources of the CIO for that period. In preparing these
financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP,.

THE ASSIST FUND TRUSTEES, REPORT
YEAR ENDED 30 JUNE 2024
make judgments and accounting estimates that are reasonable and prudent,.
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the CIO will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain
the CIO'5 transactions and di5c105e with reasonable accuracy at any time the financial position of the CIO and
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
safeEuarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
This report was approved by the Trustees on 28 March 2025 and signed orb their behalf by=
N Honebon
For and on behalf of Tru5tee5 of The Assist Fund
Charity no 1164650

THE ASSIST FUND
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE ASSIST FUND
Opinion
We have audited the financial statements of The Assist Fund for the year ended 30 June 2024 which
comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland,
(United Kingdom Generally Accepted Accounting Practicel.
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 30 June 2024, and of its incoming
resources and application of resources, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generdlly Accepted Accounting
Practice- 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 Auditin8 IUKI IISASIUKII and
applicable law. Our responsibilities under those standard5 are further described in the Auditor'5
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 relatinE to events
or condition5 that, individually or collectively, may cast significant doubt on the 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 other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information. 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.

THE ASSIST FUND
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 there is a material misstatement in the financial statements or a material misstatement of the other
information. 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 Act 2011 requires us to
report to you if, in our opinion=
the information given in the Trustees, Annual Report is inconsistent in any material respect with the
financial 5tatements,' or
the charity has not kept adequate accounting records; 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 required for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they 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.
In preparing the financial statements, the trustees are responsible for assessing the 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.
Audltor's responslbllltles for the audlt of the flnanclal statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance
with regulations made under section 154 of that Act.
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 an auditor's report 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 IUKI will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they
could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.

THE ASSIST FUND
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularitie5,
including fraud is detailed below.
Explanation a5 to what extent the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit in respect of fraud, are,. to identify and assess the risks of material misstatement
of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the
assessed risks of material mi55tatement due to fraud, through designing and implementing appropriate
responses to those assessed risks,. and to respond appropriately to instances of fraud or suspected fraud
identified during the audit. However, the primary responsibility for the prevention and detection of fraud
rests with both management and those charged with governance of the charity.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the charity and
considered that the most significant are the Charities Act 2011, the Charity SORP, and UK financial
reporting standards as issued by the Financial Reporting Council.
We obtained an understanding of how the charity complies with these requirements by discussions
with management.
We assessed the risk of material misstatement of the financial statements, including the risk of
material misstatement due to fraud and how it might occur, by holding discussions with
management.
We inquired of management and those charged with governance as to any known instances of
non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances
of non-compliance with laws and regulations. This included making enquiries of management and
obtaining additional corroborative evidence as required.
As part of an audit in accordance with ISAS IUKI we exercise professional judgement and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
deterting a material misstatement resulting from fraud is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the
effectiveness of the charity's internal control.
io

THE ASSIST FUND
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the charity's ability to continue as a going concern. If
we conclude that a material uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosures in the financial statements or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor's report. However, future events or conditions may cause the charity to cease to continue as
a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events
in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matter5, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control
that we identify during our audit.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of the
Charities Act 2011. 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 auditor's report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to any party other than the charity and
charity's trustees as a body, for our audit work, for this report, or for the opinion we have formed.
JA LLP
Moore Kingston Smith LLP, Statutory Auditor
9 Appold Street
London, EC2A 2AP
Date: 15 April 2025
li

THE ASSIST FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30JUNE 2024
Note
Unrestricted
Totsl
Total
funds 2024 funds 2024 fvnds 2023
Income from:
Donations and legacies
Investment5
503.248
731 625
503.248
731625
346,151
660 278
Total income
1234 873
1234 873
1006 629
Expenditure on:
Charltable activlties
976.992
976.992
763,129
Total expenditure
976 992
976 992
763 129
Net income before investment gains/(losses)
257 881
257 881
243 500
Gain51105ses) on investment5
1,328,333
1,328,333
(31,031)
Net income before other recognised gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
17 858 882 17 858 882
17646413
Total funds carried forviard
19 445 096 19 445 096
17858882
The notes on pages 15 to 21 form part of these financial statements.
12

THE ASSIST FUND
BALANCE SHEET AS AT 30JUNE 2024
Note
2024
2023
Fixed assets
Investments
18.753.246 17,043,564
Current assets
Debtors
Cash at bank and in hand
io
449,199
357 513
475,240
485 825
806.712
961,065
Creditors: amounts falling due within one year
li
114 862
145 747
Net current assets
691850
815 318
Net assets
Charity funds
Unrestrlcted funds
12
Total funds
44
The financial statements were approved by the Trustees on 28 March 2025 and signed on their behalf by..
N Honebon
Trustee
For and on behalf of the Trustees of The Assist Fund

THE ASSIST FUND
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024
Note
2024
2023
Cash flows from operating activities
Net cash used In operating artivities
14
1478.5881
(419, 793)
Cash flows from investing activities..
Distributions and income from investments
Disposal of investments
Purchase of investments
731.625
900.000
1281349
660,278
1,000,000
1 717337
Net cash provided byl{used in) investing artivities
350,276
(57,059)
Change in cash and cash equivalents in the year
1128,3121
1476,852)
Cash and cash equivalents brought forward
485 825
962 677
Cash and cash equivalents carried forward
15
The notes on pages 15 to 21 form part of these financial statements.
14

THE ASSIST FUND
NOTES TO THE FINANCIAL STATEMENTS
Accounting Policies
Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fair, view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair,
view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather
than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April
2(K)5 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at
cost or transaction value unless otherwise stated in the relevant notes to these accounts. The 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 IFRS 1021 issued on 16 july 2014 and the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland I'FRS 102,1 and the Charities Act 2011.
The financial statements are prepared in sterling which is the functional currency of the Charity. Monetary
amounts are rounded to the nearest pound.
The Assist Fund constitutes a public benefit entity as defined by FRS 102.
Income
All income is recognised once the CIO has entitlement to the income, it is probable that the income will be
received, and the amount of income receivable can be measured reliably.
For legacies, entitlement 15 taken as the earlier of the date on which either-. the CIO is aware that probate has
been granted, the estate has been finalised and notification has been made by the executorlsl to the Trust
that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in
whole or in part, is only considered probable when the amount can be measured reliably and the CIO has
been notified of the executor's intention to make a distribution. Where legacies have been notified to the
CIO, or the CIO is aware of the granting of probate, and the criteria for income recognition have not been
met, then the leEacy is treated as a continEent asset and disclosed if material.
Donated services or facilities are recognised when the CIO has control over the item, any conditions
associated with the donated item have been met, the receipt of economic benefit from the use of the CIO of
the item is probable and that economic benefit can be measured reliably. In accordance with the Charities
SORP IFRS 1021, general volunteer time is not recognised. Refer to the Trustees, Report for more information
about volunteer contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of
the gift to the CIO which is the amount the CIO would have been willing to pay to obtain services or facilities
of equivalent economic benefit on the open market,. a corresponding amount is then recognised in
expenditure in the period of receipt.
Income tax recoverable in relation to investment income is recognised at the time the investment income is
receivable.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party. it 15 probable that a transfer of economic benefit5 will be required in settlement and the amount
of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are
made up of the total of direct costs and shared costs, including support costs involved in undertaking each
activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which

THE ASSIST FUND
contribute to more than one activity and support costs which are not attributable to a single activity are
apportioned between those activities on a basis consistent with the use of resources. Central staff costs are
allocated on the basis of time spent.
Support costs are those costs incurred directly in support of expenditure on the objects of the CIO and
include project management carried out at headquarters. Governance costs are those incurred in connection
with administrdtion of the CIO and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is
conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants
offered subject to conditions which have not been met at the year-end are noted as a commitment, but not
accrued as expenditure.
Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction
cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be
measured reliably in which case it is measured at cost less impairment. Investment Eains and losses, whether
realised or unrealised, are combined and shown in the heading 'Gains1110ssesl on investments, in the
Statement of Financial Activities.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by
the CIO,. this Is normally upon notification of the interest paid or payable by the 8ank.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of
three months or less from the date of acquisition or opening of the deposit or similar account.
Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is
probable that a transfer of economic benefit will be required in settlement, and the amount of the
settlement can be estimated reliably. Liabilities are recognised at the amount that the CIO anticipates it will
pay to settle the debt or the amount it has received as advanced payments for the goods or services it must
provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pretax discount rate that reflects the risks specific to the liability. The unwinding
of the discount is recognised within interest payable and similar charges.
Financial instruments
The CIO only has financial assets and financial liabilities of a kind that qualify as basic financial instruments
under Section 11 of FRS 102. Financial instruments are recognised in the CIO'S balance sheet when the CIO
becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with
the net amounts presented in the financial statements, when there is a legally enforceable right to set off the
recognised amounts and there is an intention to settle on a net basis or to realise the asset and the liability
simultaneously.
16

THE ASSIST FUND
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the CIO and which have not been designated for other purposes.
Going concern
The Trustees have assessed whether the use of the going concern basis is appropriate and have considered
Possible events or conditions that might cast significant doubt on the ability of the charity to continue a5 3
going concern. The Trustees have made this assessment for a period of at least one year from the date of
approval of the financial statements. In making the assessment on whether the use of the going concern
basis is appropriate, the Trustees have considered the impact of the coronavirus pandemic and future
movements in interest rate5 and the rate of inflation and are satisfied that the substantial reserves and liquid
assets held by the Assist Fund justify their belief that there are no material uncertainties that cast significant
doubt on the Charity's ability to continue as a going concern. The Charity therefore continues to adopt the
going concern basis in preparing its financial statements.
1.12 Critical accounting estimates and areas of judgement
In preparing financial statements, it is necessary to make certain judgements, estimates and assumptions
that affect the amounts recognised in the financial statements. The Trustees consider the estimates involved
in the valuation of investments to have the most significant effect on amounts recognised in the financial
statements. These are tsken directly from the Investment Managers, reports.
Income from donations and legacies
i.ii
un￿strICted
funds
2024
Total
funds
2024
Total
fvnds
2023
Donations and legaciès
503 248
346 351
rota12023
Investment income
Unrestrlcted
Funds
2024
Total
Funds
2024
Totol
Funds
2023
Imiestment income- distribution5
Investment income- interest
730,302
730.302
658,792
1,486
660278
731 62S
Totu12023
Support costs
The Principal
Objert
2024
Total
2024
Total
2023
Wage5 and salaries
National insuran
Penslon cost
ISl.861
9.810
706
151.861
9.810
125,825
5,995
985
Tota12023
17

THE ASSIST FUND
See note 8 for further details of the staff related costs above.
Governance costs
Unrestrlcted
Funds
2024
Total
Funds
2024
Totul
Funds
2023
Audit fee
Analysi5 of expenditure by type
Staff costs
2024
Other cost5
2024
Totsl
2024
Total
2023
The Principal Object
Governance
164,377
788,716
953,093
742,968
12
Toto12023
Related party transactions and key management personnel
During the year, three trustees or trustee's dependants who qualified as beneficiaries under the Constitution
received grant5 totalling £3,69612023
no trustees or trustees, dependants who qualified as beneficiaries
under the Constitution received any grants or other assistance). These grants were available to all.
The Tru5tee5 are considered to be the key management personnel of the CIO.
During the year no Trustee received any remuneration12023- none).
During the year no Trustee received any benefits in kind12023- nonel.
During the year five Trustees received reimbursement of travel expenses totalling £64912023- £381, also for
travell.
Staff costs
At the end of the year the CIO directly employed five paid staff12023- fivel- During the previous year, it also,
under an agreement with the beneficiary organisation, received the services of one or more of the latter's
staff for an agreed number of hours each week for which the CIO reimbursed the beneficiary O￿anIsation.
The beneficiary organisation was responsible for the PAYE, Nl and pension of the relevant staff members.
Staff costs reimbursed to the beneficiary organisation were as follows:
2024
2023
Wages and salaries
Social security costs
other pension costs
1,882
192
412
486
Total staff costs in the year were as follows-
2024
2023
Wages and salarles
Social security costs
Other pension costs
151.861
9,810
125.825
5,995

THE ASSIST FUND
The average number of persons employed during the year was as follows..
2024
2023
No.
No.
Administration
No employee of the beneficiary organisation, for which the CIO reimbursed the cost in the previous year,
received remuneration amounting to more than £60,000 in that year.
Flxed assets Investments
2024
2024
2023
2023
Market value
At l July 2023
Additions
Dlsposals
17.043.564
1.281.349
1g¥Jo,oool
16,357,258
1.717.337
ii.000.ooo)
Profit on disposa15
Revaluations
Gain5lllosse51
on Investments
At 30 June 2024
20,232
13,016
18 753 246
17043564
Historical cost at 30 June 2024
18,504,396
17,223,047
Investments at market value comprise:
2024
2023
Fund Investments
All fixed asset investments are held in the UK.
18 753 246
17043564
Valuation
The valuations of the Fund investments are by reference to readily available market prices.
Material investments
The CIO'S investments are held in the following funds..
30 lune
2024
30 June
2023
Held with M&G:
Charifund 431,549.480 units at £15.1677 per unit
12023 414,542.918 unlts at £14.0519 per unltl
6.545.613
5,825,115
Held with CCLA..
COIF 537,361.694 units at £20.3418 per unit12023 553,642.10 units at £18.8073
per unit)
10,930,904
10,412,513

THE ASSIST FUND
Deposlt Fund
20

THE ASSIST FUND
io.
Debtors
2024
2023
Due aftèr morè than one year
Loans to beneficiarie5
200.435
167,267
Due wlthln one year
Loans to benefitiaries
Prepayments and accrued intome
116.006
132,758
93.112
214,861
ii.
Creditors: amounts falling due within one year
2024
2023
Accruals and deferred Income
114 862
145 747
12.
Statement of funds
Statement of funds current year
Balanee at
l July 2023
Gainsl
Ilossesl
Balanee at
30 June 2024
Income
Expenditure
Unrestricted funds
General funds (all fundsl
17.858.882 1.234.873
1976,9921
1.328.333
19,445,096
Statement of funds prior year
Balonce ¢7t
l Juty 2022
(Losse5J/
guin5
Balonce ut
30June 2023
Income
Expenditure
General funds (all fundsl
17,646.413
1,006,629
1763,129J
{31.0311
17,858,882
13.
Analysis of net assets between funds
Analysis of net assets between funds- current year
Unrestrlcted funds
2024
Total funds
2024
Fixed asset inve5tment5
Debtors due after more than one year
Current assets
Credltors due w5thln one year
18,753,246
240,435
566,277
18,753,246
240,435
566,277
19 445 096
19 445 096
Analysis of net assets between funds- prior year
Unrestrlctedfunds
2023
Totolfvnds
2023
Fixed asset investment5
Debtors due after more than one year
Current assets
Credltors due wlthln one year
17,043,564
167,267
793.798
145 747
17858882
17,043,564
167,267
793,798
145 747
17858882
21

THE ASSIST FUND
14.
Reconciliation of net movement in funds to net cash flow from operating artivities
2024
2023
Net income for the year las per ststement of financial activities)
Adjustment for..
IGainslllosses on investments
Distributions and interest from Investments
Decrease/llncreasel In debtors
IDecreaselllncrease In credltors
1.586.214
212,469
11,328,333)
1731,6251
26,041
31,031
(660,278)
174,611)
Net cash provided by operating artivities
478 588
41
15.
Analysi5 of cash and cash equivalents
2024
2023
Cash In hand
Total
22