O Good Things
Foundation
GOOD THINGS FOUNDATION
Company Limited by Guarantee
Consolidated Financial Statements
For the Year ended
31 JULY 2021
¢AaXIWK*
COAIPANIES HOUSE

COMPANY REGISTRATION NUPA8ER: 05887661
CHARrrY REGISTRATION NUMBER: 1165209
Good Things Foundation
Company Limited by Guarantee
Consolidated Financial Statements
31 July 2021

Good Things Foundation
Company Limll•d by Guarantee
Financial Ststements
Year ended 31 July 2021
Pages
Trustees. annual report (incorporating the directors. report)
1to11
IndeperKlent auditorfs report to the members
12to16
Consolidated statement of financial activities {induding income
and expenditure account)
17
Consolidated statement of financial position
18
Company statement of financial position
19
Consolidated statement of cash flows
20
Notes to the financial statements
21to30

Good Things Foundation
Company Limitsd by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report)
Year ended 31 July 2021
The Iruslees, who are also the directors for the purposes of company law. present their report and the
financial slalemenls of the chanty l(K the year ended 31 July 2021.
Reference and adminlstratlve details
Registered charity name
GoL*J Things Foundation
Charity registration numbor
1165209
Company registration number 05887661
Princlpal office and regisler•d PO Box 6063
office
Sheffield
S11 OGU
The trustees
H L Mblner
W J Perrin
E A Williams
RAGClare
CPBond
N A Wallace Dean
N Khan
S Mistry
L A Faulkner
J C Clark
J E Speake
Chief EXe￿l￿e
Chair
(Appointed 20 October 20211
(Resigned 20 October 20211
{Resigned 18 June 2021)
Company secretary
M J Ben￿tt
Auditor
Hebblelhwailes
Chartered accountants & statutory auditor5
2 WestbrD)k Court
Sh8rrow Vale Road
Sheffiel(i
S118YZ
Bankers
The CwperalNe Bank plc
Virgin Money plc
Cambridge & Ccojnties Bank Limited
Solicitors
Stone King LLP

Good Things Foundation
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Directors. Report) (coftdn
Year ended 31 July 2021
Good Things Foundation is a leading digilal inclLJsion charty, working in the UK, Australia and beyond.
We want lo fix the digrtal dNide - for good. We work in crties, towns, and comrnunilies lo help people
thrive in a digital world.
Our Aims and Objectives
Purposes and Aims
Our charity's purposes as set out in the objects C￿tair￿1 in the CoMpan￿S Articles of Association are
for public benefit and are-
To develop the capacity and skills of the members of Ihe socially and economically disadvantaged
community in such a way thal Ihey are belter able to Klentify and lo help meel their needs and to
participate more fully in soc*ty
To advance education of the public in di9ilal ski1Ss arml in information lechno109y
To promote social irtlusion among Ihosewho are excluded from S(￿￿ty and who lack either access
lo online services or necessary skills in infonnalion lechTh)10gy or digital skills
To advance citizenship by developing Ihe lnfomia￿n technology skills of the public so thal they
are beller able lo participate in soc¢ety as actNe and responsible rytizens.
Ensuring ourwork delivers our aims
We review our aims, objectives. and activit￿$ each year. This revthv looks al what we have achieve
in the last 12 months. and the benefits this actNity has driven for ￿th people and communities. This
review also helps us lo ensure our aims. objecltves and actNilies ￿maIn focused on our slated
purposes. We have referred lo the guIdar￿e conlained in the Charity Commission's general guidance
on public benefit when reviewng our aims and Obl￿tiveS and in planning our future a¢livilie5. In
particular, the trustees cOns￿er how FAanned aclivilies will contribute lo the airns and objectives they
have sel.
Our vision is a wodd where everyone can benefit from d￿lta1. and (yJr aim is to drive sceial change, and
addre55 inequalty. by delivering deep imp&1 al scale. In 2020. we achieved our ambitious goal lo
support al least three million socially exduded people lo improve their lives through (ligilal. We hope lo
support another three million by 2025 and will continue to work towards this wal with our partners in
both the UK, Australia and globally. We will do this by building effective programmes that address some
of the key social challenges we are facing in society - from a lack of digital skills lo wvety. isolation.
and unemployment.
We have three strategic objectr¥es:
We improve people's lives. indtvidually and al scale
We partner wlh community organisalions. creating imp￿t. locally and logether as a network
We inspire people aThJ shape the future so we can ￿1 thrive in a changing digilal world.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors. Report) (Conllnu
Year ended 31 July 2021
We have five strategt prinaples that underpin strategy. These principles explain the core purpose
of our organisalion and how we operate".
We ¥e committed to helping people imtKove ￿1r INes
We lead a movemenl achieving %xial change
We use digital techndogy to make thange happen
We do what works
We are ambitious about the scale of tyJr impact.
We achieve this by working wth nets¥￿s across the countries we operate in. particulady our
community netsvorks in tKlth the UK and Australia.
Achievements and Performan¢e
How our activiti￿ deliv•r public benefit
All of G￿d Things Foundation's charitable activities focus on helping people lo be happier. healthier
and beller off by being dKJilally able. equal and safe. Our main activities and the people we have helped
are described below.
In the UK
The year from August 2020 - July 2021 has been a thallenging bul rewarding year for G¢x¥Y Things
Foundation. as the effeels of the pandemie and lockd¢)wns began lo bile. and the challenges of the
digital divide fell more acute than ever. 92% of our employers now say that they need basic digital skills
from their employees {Worfd Skills UK. 20211. yel 8.7 million adults in the UK lack these skills {Lloyds
Essenlial Digrtal Skills Survey 2021). 1.5 million households have no internet access {Ofcom. Adults,
edia Use and Attitudes. 2021), and 14.9 million adults in the UK have very low digilal en9agemenl
{Lloyds Bank Consumer Digital Index 2021). showing the scale of action needed to equip everyone with
the access, confidence, motivation and skills to be￿rit from the digital wortd.
This year. we continued to cafflpaign for action to end digital exclusion. ensuring we surfxed the stories
of those who were exduded from aeeessing the online l¢)ols and services many of us look for granted
during the pandemic. Through our Fix the Digital Dwide Campa￿n. we engaged with a range of partners
across sectors to raise the profile of digital exdusion and to Secure funding and support. The campaign
has been adopted by a wide range of partners. induding the Mayor of Greater Manchester and his team.
In the UK, our Everyone Connected programme (previously known as DevicesDolNowl continued lo
grow and have a huge impact during the year. Partners induding Bardays. JP Morgan, Children in
Need. National Lottery Community Fund. and more provHled fiJnding so we could provide data and
devices to those mosl in need. f￿e of charge. Through the programme. over 20,000 devices have
already been gwen out through our community partner network. provKling a lifeline lo adults and
families cul off from essential servw. fn"ends. and famAy.
Vve also launched our Data Poverty Lab in Awil 2021. The Lab is a partnership be￿en Good Things
Foundation and Nominel. the official registry for UK domain names. Working with Inlernel Servi
Providers, charity partners. and the UK Government. il will link with and build upon research, ideas, and
inilialives lo investigate emerging issues of data poverty. an issue which has become even more acute
since the pandern￿ hil. The lab will involve people with live(l experience of poverty in developing and
testing effective, sustainable, an(J innovative solutions.

Good Things Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directors. Report) (¢ontints
Year ended 31 July 2021
In March 2021, we began delivering the Digital Lrfeline projeet. funded by the Department for Digital,
Culture. Media and Sport. The emergency response project provTrded devKes, dala. and digital skills
support to digitally excluded people wrth learning disabilities, creating a life changing impact for a
group with a huge amount lo gain from being digitally connected. The programme Is being delivered in
partnership with AbilityNel and Digital Unite. ar¢d supported by Learning Disability England, the
Voluntary Organisalions Disability Group. self-advocales and other disability and digital indusion
organisations. By July 2021. we'd exceeded our goal and 5.500 adulls with a leaming disability had
received a new device, free data. and some dKJital skills support from a trusted partner organisalion.
The UK Census t¢x¢k place in Marth 2021. delivered as a 'digital first. service. Through our comrnunity
nebKork of Census Supp¢)rt centres, we provKled 5UPPOrt lo ensure those wilhoul digital skills or
access could participate. and so ensure their ¥0￿ was recorded.
This year the Future Digital I￿1￿$10n programme. funded by the Department for Education and
delivered by Good Things Foundation, came to an end after 7 years. The programme supported over
1.5 million adults lo improve their basic digital skills - and in tum their INes. Learners progressed to
range of positive outcomes, with 84Yty progressing lo fvrther learning and 36% progressing to a course
which would lead to a qualification. 80% of working-age learners progressed lo employmenl-related
activity. and 20% of working-age learners had entered full lime or part lirne employment. The
programrne also reached those most in need. with 77°1tr of people supported facing one OT more
barriers rdaled lo social exdusion {poverty. unemployment. low skills. disability. homelessness).
The end of Future Digital Inclusion means there is currenuy no dedicated Governmenl-funded
programme supFKJrting the most exduded lo improve their digital skills in an informal. community-
based setting. Although the Government's new enlillemenl to full funding for Entry Level 3 and Level 1
qualrficalions in Essential Digital Skills is welcome. there Is a risk that the people this policy aims lo
support do not benefit because they are disengaged from formal education antj require support and
preparation in community settiros before being able lo progress. During this year. we worked with the
Department for Education lo 'taper' the Future Digilal InclUs￿n programme through to closure,
avoiding a cliff edge for thousands of vulnerable learners. and providing funding and capacity building
support lo communily organisalions lo help them explore ways of sustaining Essenlial Digital Skills
support in commvnities. Bul the challenge remains.
ongside our action on dKJitsl poveriy. and our governrnent-funded programmes. our partnerships
with private sector organisalions who share our visH)n have ￿ntInued to enable us to innovate,
explore Yrdy5 of embedding digtsl indusion into a wde range of community support. and reach new
beneficiarie5. We teamed up wlh Mastercanl - since joined by Lloyds Banking Group - to deliver Ihe
Nobody in the Dark campaign. shining a light on both digital and financial exclusion during Ihe COVKI
19 pandemic. sNJnposling lo online SUPFX)rt and piloting a communrty-based offer lo help peOe
fulure-proof the￿r finan￿, working wth Cleanslate and Quidslnl
Working wilh BT through the Skills for Tomorrow kKogramme, we continued to supwrt older and
vulnerable people lo gel online and make the most of the digital tools modern lrfe increasingly
epends on. We also published an evidence review on the kinds of safety risks adults face on the
inlernel and how lo incorporate inlernel safety into digital indusion.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) (continvedj
Year ended 31 July 2021
We continued lo delNer the Power Up kwramme, hjnded by J.P Morgan Chase Fojndalion. which is
driving economic inclusion Ihrough digital in communities - Fxjwering up people. provision, and places.
Power Up engaged a lolal of 2.330 beneficiaries during the programme through a mixture of
employability and finanual capability sUpp￿t, with basic digilal skills embedded. 96°A of beneficiaries
gained new digilal skills, 71 % of finanual capability benef￿larieS becarne more confident using digital
tools lo manage their firbances. and 54% of employabilty benef￿larieS beeame more confident Using
Workpla￿ digrtal tools.
Our work with Her Majesty's Courts and Tribunal Service finished in August 2021. which tesle(I
models of delivering face-to-face assisted digitsl support so digitally excluded people could access
online services with help and making a number of recommendations lo deliver beller services for
digitally excluded people_
Get Online Week
Our Gel Online Week Carnpa￿n which again this year took place in both the UK and Australia went
virtual for the first lime thanks lo the Covid-19 pandemic. Despite the challenges this posed. our
community partners in both the UK and Australia rose lo the challenge and delivered innovative and
inleraclive sessions that helped people engage wlh digrtal remotely from their homes. In the UK, 400
organisations held 2.000 events. reaching 20,000 people in totsl. In Australia, 700 organisalions held
1.600 events, reaching 23,500 people.
In Australia
In Australia, this year we collaborated with our partners lo extend our impact. respond to the Covid-19
pandemic and advocate for increasing digilal indusion support lo reach those most in need. Our
Australian ne￿Ork now stands 3,500 slrong. with nearly $20m in grants distributed in lotsl since the
network launched in 2017.
This year was significant for Be Connected. our community-base(I d￿lIa1 skills program aimed at
Australians aged over 50. The 2019120 Federal Budget saw the Be conr￿le￿ program extended for
an additional three years lo 2024. The exlenstin of Be Connected. which is run jointly with the
Department of so￿21 Services 2nd the esafety Commissioner, is recognition of the program's success
to dale and the important work remaining.
In March 2021. the release of an evaluation of Be Connected demonstrated the effectiveness and
significant posibve impact the program ha5 had on building the digital skn"Ils. ￿nfidenCe. online safely
skills and social ujnnecledness of participants.
The first roll•tsJl of our digilal health literw proJram. Health My Way. concluded in June 2021.
Oelivered by 75 community organisalions nalionwKle. Health My Way focused on supporting people
aged over 18 to gain essential digital skills and confidence and lo access digital health services. Good
Things Foundation Australia supported participating community organisalions lo deliver the program
Ihrough $435,000 in small grants funding, the development of resources and learning materials.
including three online learning m¢xlules, and training 232 o￿tal Health Menlors.
Alongside the development and provision of our digital indusion programs and resources, this year
also saw us make new strides In ￿T advocacy f¢y digital indusion. Increasing understanding of digital
exclusion is importanl for raising aWarer￿$S of those most at risk of digital exclusion. what support is
¢urrently available. and what more can be done to dose the digital dTvide in Australia.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors. Report) Iconllnu•d)
Year ended 31 July 2021
Financial Review
Principal Funding Sources
Our principal funders in the UK in the year ￿maIn Govemment Departments.. Department for
Edueation, Her Majesty's Courts and Tribunals SeThice. oifice of National Slal+slics. Department for
Work and Pension and Her Majesty's Revenue and Customs. We have also received funding from a
number of charitable trusts induding the Big Lottery Fund. Comic Rdief. JP Miygan Chase
Foundation, Camegie UK Trust, Norninel, Google.org and Prin￿. Countryside Fund. We Continue lo
work wlh Lloyds Banking Group. G¢)ogle. BT, A￿entUre and Mastercard. and we are grt)wing
relationships with a WKler range ol partners across all sectors.
Our principal funder in Auslralia is the Australrdn Govemmenl through the Department for Social
Services. We also received incorne from the Office of the esafety Commissioner, the Australian Digtsl
Health Agency. the New South Wales Oepartment for Primary Industr￿, NBN Co. PWC and Nokia.
Flnancial Review of the year
In the year lo 31 July 2021 the Group had net income of £405,293.
This is represenled by a inflow of unreslricled fvnds of £455,324 and a net tsulftow of reslricled
funds of £50.031.
The net incoming unreslricled restrjrces of £455.324 have been added lo our free TeseNes and
become availat￿e for us lo spend on any activity that supports our charitable objectives. Any excess
amount above the reserves that we need lo sel aside lo manage risk. will be invested in our charitable
obieclives. As of 31 July 2021. the Group is carrying foThvard free or unreslricled reseThes of
£2,285,876. Of this total, £2.091.257 relates lo the UK charity and £194,619 relates lo the Australian
charity.
Restricted funds have to be ulilbsed on the projects agreed wlh the funders who granted or donated
these funds Many of the projecls undertaken span more than one financial accounting year. In such
cases, any reslricled fu￿15 received in Ihe UK tharity that have nol been fully used in the year on the
projects that they fund, musl be carried forward lo be expended in future years. Thus, the nel oufflow of
reslricled funds for the year is not a def￿11 but a liming difference befv￿n when we receive restricled
funds for a project and when we carry out that project. Al the end of the year. we are carrying foThvard
£2,108,412 of restricted funds lo L* utilised in future years on the rdevant projects. These restricted
funds relate lo the UK Charty only
Inv•stment policy
Aside from retaining a prudent amount in reserves each year lo Cover risks and provide for working
capital, the ¢harity'5 funds are lo be spent in the short term as sel out in our funding contracts. so there
are no funds for long term investment. Any funding received in advance 15 Iiivesled in either an instant
access or a ￿￿laY deposit xcount depending on our cash flow requirements.

Good Things Foundation
Company Limited by Guarantee
Trust••s' Annual Report (Incorporating th• Directors. Report) (confrnuodj
Year ended 31 July 2021
Group Reserves policy
Good Things Fourwjalion's reserves policy focuses on the level of free reserves. Free reserves exclude
reslrKted funds and designated fvnds. The recommended free reserves level is calculated annually in
advance of the budget process based on Ihe financtal impact of the ￿rrent risks facing Good Things
Foundation. The reserves policy is reviewed annualty by Good Things Foundation's Group Board.
Good Things F￿ndatIOn seeks lo maintain free. unrestricted reseNes to manage the fisks lo which we
are exposed in the course of our business. induding bul not limited to mitigating uncertainties in our
funding and earned income. The reserves are also needed to meet the working capital requirements of
the charty which are becoming a higher risk for us as we diversfy our funding streams, including into
attracting unreslricle(I dOnat￿n$, and generate more income that is paid in arrears and on results. Any
surplus on free reserves above the amount we need will be invested in our Charitable objeelwes.
Group Reserves situation
The Board has decided that in order lo meet these needs. and lo operate effeclr¥ely. Good Things
Fountjalion needs unreslricled Group reserves of between £2,162,000 and £2,717,WO based on the
current analysis of risk. Currendy our lolal unrestricted reserves are within this range.
Plans for future periods
In the coming year, we wll continue lo deliver activity that helps us lo fix the dKJilal divide in both the
UK and Australia. H¢)wever, we continue lo faee uncertainty as the uncertainty of the pandemic
continues, and we begin lo navigate a wsl-covid environment wrth challenges including a changed
funding environment, economic challenges. an ongoing r￿ed lo manage Ihe pandemic, and a greater
digital divide than ever before. We conlinue lo explore new furKling opportunilies. including developing
fundraising and as a resull we are in the process of regislerirvJ wth Ihe FundraisiThJ Regulator in the
UK.
In 2020, we developed our 2020-2025 Group Strategy. and we agreed our Group Vision. Strateg
Objeclwes and Enablers at our Joint International Boards Committee.
As set out in our strategy. we will eontinue to grow our existing partners, ané develop new ones that will
allow us lo reach new audiences. test innovative approaches and grow our impact so we can achieve
our aim of a world where everyone can benefit from digital. This wll particularly focus on the impact we
can have distribuling data and devices to Ihose in need. in order to overcome dwJilal exclusion.
We will also look to grow and develop our community nefv4ork in order to continue to help people to
benefit from the internel, working with both community and strategic partners lo addres5 the
challenges of the posl-covid landscape. Supporting our community nehvorks in both Ihe UK and
Australia will continue lo be a central focus for us, and we will ensure Iheir voice5 can be heard. as
well as support them in the vital work they are doing in communilies lo support some of Ihe rnosl
excluded people to cross the digital dNide.
As always. we will be informed by research and insighl. and focussed on (Jelivering activity that meets
the needs of both our community neiknY)rk and those IW suppcfft. an(1 we wl1 continue 10 showcase
the benefits of research and evaluation.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) I￿ntInu•d>
Year ended 31 July 2021
In Australia, we will conlinue to 5UPPKIrt our national ne￿rk of 3,$00 local partners, who help us lo
deliver community-led digital inclusion programs such as 8e Connected, and we will build new
partnerships and programmes so we can expaThJ our impact. and the aud￿n￿ groups we can reach.
Campaigning lo fix the digrtal dNide for g)od will remain a crye part of our work as we will continue to
advocate for both QL•r coinmunity partners and for digitally exduded people. in both the UK and
Australia, and beyond.
We will continue lo be ambitious aboul our IMp￿t lo erEure that everyone can thrive in a digital world.

Good Thlngs Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directors. Report) (cOftllfA￿)
Year ended 31 July 2021
Structure. Govemance and Management
Goveming Document and organi&*ional structure
Good Things Foundation's goveming document is its Memorandum and Articles of Assock8lDn which
estsblished the objects of the charitable company and is governed under its Articles of Association. We
are a charitable company limited by guarantee sel up on mulual principles, wilh three staff members
elected to 511 on our Board, together with our Ch￿f Execub"Ye. We were incorporated on 26 July 2006,
and we began tradin9 on 1 December 2011.
On 19 January 2016. Good Things Foundation became a registered charity.. one of the first charities in
the UK lo relain ils mutual founding princiFles. after approval from the Charities Commission. This was
a major achievement for the organisation and has helFed lo ensure that we remain grounded in the
needs of those we suppcKt as we have grown our impact.
All staff of the UK Charity who have been in posi for al least six monlhs can become members of the
company. together with the external r￿n￿xeCUtive d1￿ClOrS. In the event of the compary being wound
up. members are required to contribute £1 ttrward the settlement of any company debt5.
A scheme of delegation is in place and day to day responsibility for the provision of the services re51s
with the Group Chief Executive and the Senior Management Teaffl. Through the Group Chief Executive.
the Board is responsible for ensuring that the charity delwers ils five-year strategy and the key
performance indicators are rnel.
In April 2017, we eslablished Good Things FouTrJalion Lld, a charity in Australia, of w￿rn Good Things
Foundation is the sole Member. This help5 US to deliver our mission. export know-how, and reach more
people. We run the two tharilies as a Group. with both eharilies sharing the same objects and working
dosely together lo ensure suecess.
In October 2019, we began regular bi-annual meetings of a Joint Committee formed of
TrusleeslDireclors from the GrouplUK and Australian Boards_ 11 is al thTrs Commitiee that we approve
Group level straleg*s and plans, as well as consNler Group-level risks.
Recwitmgnt and training of Trustegs
The directofs of Good Things Foundation in the UK are a150 charity trustees for the purpose of charity
law. Under the requirements of the Artides of Asswation. the direclors are elected lo serve for a period
of three years after which they can sland for re-election at the next Annual General Meeting.
Our 802rd of Directors in the UK consists of elected and appointed directors. The electe(J directors
on51sI of four staff directors - one is the Group Chief Executive and the olher three are elected by our
staff. The appointed directors, whKh must be at least four and up lo ten in lotal. are appointed to fill
relevant skills gaps on our 8oard via open advertisement and. where appropriate. by using a recruilmenl
agency with experience in recnjiting charity trustees.
Trustees are provided with a buddy from the existing Board and gNen the oppcfftunity lo attend events
and visit projects to increase their understarKling of what we do. We tailor induction lo meet their needs
- this can include shadowing senior staff or bl￿fir￿j sessions with teams across the organisalion.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors. Report} (¢ontinued)
Year ended 31 July 2021
Risk management
A Group Risk Register has been pro¢Juced and is updated and revEwed at each Board meeting iri the
UK and Australia. and the Boards, Joint Cornmillee. Where appropriate. systems and procedures have
been established lo miligale the risks the charities face. procedu￿ are in place lo ensure the health
and safety of staff and visitors lo our premises.
The princlpal rlsks and uncertaintles faclng the company
The Covid-19 pandemic has brought addith?nal risks and uncertainties. The Governments in the UK
and Australia have invested heavily in supporting the economy and in particular schemes lo protect
jobs and businesses and although this financial support is being phased oul, il has placed pressures
on the economies of bolh nations. Allhough the ecorKJmic oullook is more positive than a year ago,
there is a risk that Govemmenl funding, which has already declined over the Covid pandemic. doesn't
reach ils previous levels due to investment in recovery through infrastructure and balancing the
national debt. Charities have also been ssl nificanuy affected finanehilly due lo the pandemic with
ehanges lo the funding landscape. We will continue to mitigate the risk to our finances.
In the UK, the devolution ol the Adult Skills Budget and the Essential Digital Skills enlillemenl that
carne into place in 2020 in England has already resulted in a reduction in the provision of cofflmunity-
based inform81 digi181 skills support. through the removal of the Future Digital Inclusion programme
delivered by Good Things Foundation. We continue lo work wrth a number of Government
departments {including the Department for Educat￿n, and the Department for Digital, Media, Culture
and Sport) to make the case for this support for the hardesl lo reach. We have also diversified our
funding greauy, with a nLJmber of new contracts this year vthh private sector partners, induding 8T, JP
Morgan and Accenture, which means that we are less reliant on 9)vernment funding and so have
miligaled some of the risk we mighi fa￿. We a150 received a £1.1 millK)n loan from the Government's
Resilience and Recovery Loan Fund in January 2021, which we have invested in our digi181
infraslruclure lo ensure we have fil-for-purpose. under￿nnIng prccesses, and systems to allow us lo
meet our future challenges.
While working inlernatKJnally provides us V￿th greal opportunities lo make a worldwKle impact and lo
raise income. this is by nature riskier Ihan working in the UK. We have developed and maintained risk
registers for each major project and a Gr(xJp Risk register that is revEwed al each Board meeting. Hsi h
risk items are escalaled lo the Group Risk Register when needed.
io

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the DirectorJ' Report) {¢onWnu
Year ended 31 July 2021
Trustee¥. responsibilities S￿￿ement
The trustees, who are also directors for the purposes of company law. a￿ responsitAe for preparin9 the
Iruslees, report and the financial statements in accordance wth appl￿ble law and United Kingdom
Accounting Standards {Uniled Kingdom Generally Accepted Acc￿￿tIng Praclicel.
Company law requires the charity tnjstees lo Prepa￿ financial statements for each year which give a
true and fair view of the slate of affairs of the charitable company and the incorning resources 2nd
application of resources, including the income and expenditure. for that period.
In preparing these financial statements. the Iruslees are required to-.
seled suitable accounting policies and then ap￿Y them rA>n5i51enty
observe the methods and principles in the applicab￿ Charil¢es SORP
make judgments and acc(yJnling eslimales that are reasonable and prudent
slate whelher applicable UK Accounting Standari15 have been followed. subject lo any material
departures disclosed and explained in the financial 5ts1ements
P￿pare the financ￿1 statements on the goin9 corwn basi5 unless it is inapprowiate to presume
that the charity wll continue in busir*ss.
The trustees are reswnsible for keeping adequale accounting records that are Suff￿lent lo show and
explain the charity's transactions and disdose wilh reasonaue accuracy at any lime the financial
position of the charity and enable them to ensure that Ihe financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hen
for taking reasonable Steps for the prevention and detection of fraud and other irregularibe5.
Auditor
Each of the persons who is a Iruslee at the dale of approval of this report confirms that".
so far as they a￿ aware. there is ￿ relevant audit information of which the charity's audrtor is
unaware.. and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charl￿S auditor is aware ol that information.
The auditor is deemed lo have been re-appointed in accordan￿ with section 487 of the Companies Act
2006.
The trustees. annual reporl and Ihe slrategic ￿pOrt were approved on 19 January 2022 and signed on
behalf of the board of trustees by..
H L Milner
M J Bennett
Truslee
Charity Secretary

Good Things Foundation
Company Limited by Guarantee
Independent Audltorfs Report to the Members of Good Things Foundation
Year ended 31 July 2021
Opinion
We have audited the financial slalemenls of Things FOundat￿n (the 'charity'l for the year ended
31 July 2021 which comprise Ihe group consolidated statement of financial activities (including income
and expenditure account). the group and the company s121emenls of financial position. the group
slalemenl of cash flows and the related notes. 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 Sland8rd applicable in the
UK and Republtc of IrelarKI (United Kin9Jom Generally Accepted Acc(wnling Pracllcel.
In our opinion the financial statements..
give a true and fair view of the stale of the group and the parenl charity's affairs as at 31 July 2021
2nd of the group's incoming resources and ap￿ication of resources. induding ils income and
expenditure. for the year then ended:
have been properly prepared in acctydance wth United Kingdom Generally Accepted Accounting
Practi￿..
have been prepared in accordance with the requirements of the Companies Act 2006 and the
Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational Stsndards on Audiling {UK} IISAS IUKII and
applicable law. Our responsibilities under those slan¢Jards are further described in the auditor's
respon51bililies for the audit of the financial stalemenls 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
sl8temenls in the UK. induding the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance w*lh these requirement5. We believe that the audit evidence we have
obtained is sufficient and aprKopriate lo provKle a basis for tyjr opinion.
Conclusions relating to going concern
In audiling the financial slalements. we have conduded that the trustees. use of the going concern basis
of accounling in the preparalion ol the financial slalemenls appropriate.
Based on the work we have performed, we have not idenlrfied any material uncertainties relating lo
events or conditions that, individually or collectively, may cast signifKant doubl on Ihe charity's ability lo
continue as a going concern for a period of at least twelve months from the dale when the financial
slalements are authorised for issue.
Our ￿sponSIbl1111eS and the responsibilities of the truslees wlh respect lo goirvJ concern are described
in the relevant sections of this report.
12

Good Things Foundatlon
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Good Things Foundation
(contynuedj
Year ended 31 July 2021
Other information
The other information comprises the information Fnduded in the annu81 report, other than the financial
statements and our audilorfs report thereon_ The trustees are responsible for the other informal￿n. Our
opinion on the financial statements does rK)I cover the other information and. except lo Ihe extent
othe￿ise explicitly slated in our report, we do not express any fom) of assurance conclusion thereon.
In connection with our audit of the financial statements. wr ￿SponsIbl11ty is lo 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 lo be materially misstated. If
we identify such material inconsistencies or apparent material mi551alemenls. we are required to
determine whether there is a material misstatement in the finanoal slalemenls or a material
misslalemenl of the other inf0Mat￿n. If. based on the work we have performed, we conclude that th￿e
is a material misslalement of this other inlormalion. we are required to report that fact.
We have nothing to reporl in Ihis regard.
Opinions on other matters presrKibed by tho Companies Act 2006
In our opinion. based on the work undertaken in the course of the audit..
the information given in the trustees, report for the financial year for which the finanual statements
are prepared is consislenl with the financial slatemenls,. aThd
the trustees, report has been prepared in ￿OrdanCe ¥￿th applicable legal requirements.
Matters on whlch we are requlred to report by exception
In the Ivjhl of the kno￿edge an(i underslanding of the charity and ils environment obtsined in the course
of the audit, we have r￿1 identified material misstatements in the trustees. reFrt)rt.
We have nothing to rep(Yt in respect of the following matters in r￿at￿n lo which the Companies Act
2006 and the Charities Act 2011 requires us lo retM)rt lo you rf. in our opinion..
adequate accounling records have not been kept. or relums adequate for our audit have not been
received from branches not visiled by us- or
the financial statements are Th)t in 4reement with the ac¢ounling records and retums.. or
certain di5thuTe5 of tru5tees' rernunerat￿ specifie(I by law are not made., or
we have not received all the information arKS explanalions we require for our audil.
13

Good Things Foundation
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Good Things Foundation
(¢on¢iftu¢d)
Year ended 31 July 2021
Responsibilities of trustees
As explained more fully in trustees. re5ponsikn'lities statemenl, the Iru5tees (who are also the
directors for the purposes of company law} are responsible for the yeparation of the financi81 slalemenls
and for being satisfied that they give a true and fair view. and for such internal control as the trustees
determine is neeessary to enable the preParat￿n of financ￿1 statements that are free from material
mi5s1atemenl. whether due to fraud or error.
In preparing the financ￿1 statements, the trustees are reswnsible for assessing the charity's ability lo
continue as a going concern, disdosing, as appluble. matters related lo going concern and using the
going concern basi5 Of ?￿ntIng unless the trustees either intend lo I￿￿￿late the charity or lo cease
operation5, or have no relis1￿ allernalive but lo do so.
Aud+torfs responsibilities for the audit of the financial statements
Our objectives are lo obtain ￿asOnable assurance about whether the financial slalemenls as a whole
are free from material misslalement. whether due lo fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level ol assurance but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always detecl a material misstslemenl when il exists.
Misslalements can arise from fraud ￿ error and are considered material rf. individually or in the
aggregate. they could reasonably be expected to influence the economic decisions of users tsken on
the basis of these financial slalemenls_
Irregularities. includirvJ fraud, are instances of non-compliance wlh laws an(1 regulations. We design
procedures in line with our responsibilities. outlined above, lo delecl malerBI misstalemenls in respect
of irregularrties, including fraud. The exlenl to which procedures are capable of delecling
irregularities. induding fraud. is detailed below-
We identify and assess the risks of material misstalemenl of the fjnancial stalemenls, whether due lo
fraud or error, and then design arKt perform audit procedures responsive lo those risks, including
obtaining audit evIder￿e that is SU￿￿￿nI and apFfopriale lo provide a basis for our opinion.
In identifying and assessing risks of material misstalement in respeci of irregularities. induding fraud
and non-com￿lance ￿th laws arml regulations. we considered the foll¢)wing".
the nature of the industry and sector. control environment and business perfom)ance. including
the idenlrf￿aI10n of relaled paty Iransaclions. and matters which could potentially impact on the
charity's continuation as a going concern
results of our enquiries of management and a55essmenl of the risks of irregularities
any matters we idenltfied having obtained and reviewed the charity's documentation of their
policies and wctedures relating lo."
identifying. evaluating, and complying with laws and regulations and whether they were
aware of any instances of non-compliance
delecling and responding lo the risks of fraud and whether they have knowledge of any
aclual. suspecled, or alleged fraud
the internal controls esiablished lo mrtigate risks of fraud or n￿-ComPliance with laws
and wulalions
Ihe mallers dtscu55ed amng the aL￿1t engagement team, induding how and where fraud moht
occur in the financial slalements and any potential indicators of fraud.
14

Good Things Foundation
Company Limited by Guarantee
Independenl Auditorfs Report to the Members of Good Things FourKlation
(¢ontinu8d)
Year ended 31 July 2021
As a result of these procedures, we considered Ihe opportunfties and incentives that may exist within
the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition.
In common wlh all audits under ISAS (UKI. we are also requi￿￿ lo perform specific procedures lo
respond lo the risk of management override.
We also obtained an understanding of the legal an(1 regulatory frameworks that the company operate5
in. focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of
material amounts and disclosures in the financial slatemenls. The key laws and regulatsons we
considered in this context included the UK Companies Act, UK Corporate Governance Code, Charities
SORP and local lax legislation.
In addition, we considered provisDns of other laws and regulations that do not have a direct effect on
the finanaal Statements but cornpliance with which mty be fundamental lo the charity's ability lo operate
or lo a¥0￿ a material penalty.
We also communicated ￿levant tdenlrfie(I laws and wulalions and potential fraud risks to all
engagement team members and remained alert to any irHlications of fraud or non-compliance with laws
and regulations Ihroughoul the audit.
As part of an audit in aecordance wth ISAS (UK). we exerctse professional judgment and maintain
professional 5ceptivsm IhrtsJghoul the audit. We a150'.
Identify and assess the risks of material misslalement of the financial statements. whether due lo
fraud or error, design and perform audit pr(￿dureS responsNe to those risks. and obtain audit
evidence that is sufficient and appropriale lo provide a basrs for our opinion. The risk of nol
delecling a material misstalemenl resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion. forgery. intent￿nal omissions, Mis￿presen￿llons. or the override
of internal control.
Obtain an understsnding of internal Contr[￿ relevant lo the audit in order lo design audit procedures
that are approprrale in the circvmslances. Iwt not for Ihe purpose of expressing an opinion on the
effectiveness of the inlemal control.
Evaluate the appropriateness of accounting polic￿5 used and the reasonableness of accounlirwJ
eslimales and related disclosures made by the trustees.
Condude on the approwialeness of the truslees. use of the going concern basis of accounting
and. based on the audit evidence obtained, whether a material uncertainly exists related to evenls
or conditions that may cast significant doubl on the charity's ability lo continue as a going concern.
If we conclude Ihal a material uncertainty exists. we are required lo draw allenlion in our auditor's
report lo the related disclosures in the financial slalemenls or. if such disclosures are inadequate,
lo modrfy our opinion_ Our condusions are based on the audit evidence obtained up to Ihe dale of
our auditor's repM)rt. However. future events or condilions may cause the charity lo cease to
continue as a gtyng concern.
Evaluate the overall presenlalion. structure, and content of the financial statements. including the
di5¢105ure5. and whether the financial slalemen15 representthe underlying Iran5aclions and even15
in a manner that achieve5 fair presentation.
15

Good Things Foundation
Company Limited by Guarantee
Independent Audltor's Report to the Members of Good Thbngs Foundation
(contmedj
Year ended 31 July 2021
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or
activities within the group lo express an opinion on the con501idaled financial statements. We are
responsible for the direclion, supervision. and performaiKe of the group audit. We remain solely
responsible for our audit opinion.
We communicate with those charged with w¥emance regarding, among other matters, the planned
scope and timing of the audit and signrficanl audit findings, including any significant deficiencies in
intemal control that we idenlrfy during our audit.
Use of our report
This report is made solely to the eharivs members, a$ a body. in accordance wrth Chapter 3 of Part 16
of the Companies Ael 2006 and in respect of the c0rn501idated financial statements. lo the chanty's
Iruslees a5 a body, in accordan￿ Chapler 3 of Part 8 of the Charities Act 2011 and regulations made
under section 154 of that Act. Our audit Wofk has been undertaken so that we might stale lo the charity's
members those mallers we are required to slale lo them in an auditor's ￿port and for no other purpose.
To the lullesl extent permitted by law. we do not accept or assume responsibility to anyone other than
the charily and the charity's members as a body, lor our audit work. for this report, or for the opinions
we have Iofmed.
ANDREW THROSSELL FCA (Senior Statutory Auditor)
8 February 2022
For and on behalf of
Hebblethwaites
Chartered Accountsnts and Ststulory Audit￿S
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
16

Good Things Foundation
Company Limited by Guarantee
Consolidated Ststement of Financial Activities
(including income and expenditure account)
Year ended 31 July 2021
2021
2020
unreStr￿ted
fund5
Restricted
funds Total funds Total fund5
Incom• and endowments
Investment income
Oiher income- charilable activities
7,876
7,876
20.884
6.604.147 11.524.129 18,128.276 17.051.959
6.612.023 11.524.129 18.136.152 17.072,843
Total incom•
Expenditure
Other expenditure- charitable aclivilies
Total expenditure
6,156.699 11,574,160 17.730.859 17.539.682
6.156.699 11.574.160 17.730.859 17,539,682
Net incomel{expendilurel and not
movement In funds
455.324
150.031)
405,293
1466.8391
Reconciliation of funds
Total lunds brought forward
Total funds Carri￿ forward
1.830.552
2.158,443
3.988,995
4,455,834
2.285.876
2.108,412
4.394.288
3,988,995
The statement of financial activit￿$ includes all gain5 and losses recognised in the year.
All income 2nd expenditure derive from continuing aCts"vit￿$.
The notes on pages 22 to 31 forffl part of thew financlal sL7t•m•nts.
17

Good Things Foundation
Company Limiled by Guarantee
Consolidated Statement of Flnanclal Position
31 July 2021
2021
2020
Fixed assets
Intangible as5els
13
57.212
Current assets
Deblors
Cash al bank and in hand
16
207.944
7,110.595
738,279
5,495,494
6.233,773
7.318.$39
Credltors.. amounts falling due wllhln one year
Net Current ass•ts
17 2.981.463
2,244.778
4.337.076
3,988,995
T¢)tal assets less curront Ilabllitles
4.394.288
3.988.995
Net assets
4.394.288
3.988.995
Funds of the charity
Restricted funds
Unreslficled funds
2.108.412
2.285.876
2,158,443
1,830,552
Total charity funds
18 4.394.288
3.988.995
These financial slalements were approved by the board of trustees and aulhorised for issue on 19
January 2022, and are signed on behalf of the board by:
H L Milner
Trustee
E A Williams
Trustee
The notes on pageg 22 to 31 forni part of Ihèse *n¥ncial statements.
18

Good Things Foundation
Company Limited by Guarantee
Company Statement of Financial Position
31 July 2021
2021
2020
Fixed assets
Intangible assets
13
57.212
Current assets
Debtors
Cash at bank and in hand
16
480,922
5.048,015
842.658
3.618.837
5.528.937
4.461.495
Creditors: amounts falling due within one year
Net current assets
17
1.386.480
802,446
4.142.457
3.859,049
Total assets less current liabilities
4.199.669
3,859,049
1491 assets
4,199,669
3,859,049
Capital and reserves
Restricted funds
Unrestricted funds
2.108.412
2,091,257
4,199,669
2,158,443
1,700,606
Total charity funds
3,859,049
The nel In￿Me for the financial year of the parent company was £340,620 12020.. £511,535 nel
expenditure).
These financial slalemenls were approved by the bjard of trustees and aultw)rised for issue on 19
January 2022 and are signed on behalf of the board by".
H L Milner
Trustee
E A Williams
Trustee
C¢)mpany registration number.. 05887661
The notes on pa9y 22 to 31 fomi part of these financial statements.
19

Good Things Foundation
Company Limited by Guarantee
Consolidated Statement of Cash Flows
Year ended 31 July 2021
2021
2020
Cash flows from operating activilies
Nel incomellexpendilure)
405,293
1466.839)
Adjustments lor..
Amortisalion of intang1l￿e assets
Other interest receivable and similar income
Accrued expenses and deferred income
3.708
17.876}
120,884)
(249.810> (3.303.744)
Ch8ng&s in..
Trade and other debl(Ks
Trade and other creditors
560,361
(143.S31)
568.145 14.065,676)
{335.981)
61.772
Cash generated from operations
Interest received
Tax paid
Nel cash {used inyfrom operating &tivities
7.876
576.021 14.044,7921
Cash Ilows from investing activitie$
Purchase of intangible assets
{60.920)
Nel cash used in inveslirwJ actNilies
{60.920)
Cash flows from financing activities
Prcr*eds from borrowings
1.100.000
Nel cash from financing activities
1.100.000
Net increasel(decrea$e) in cash and cash equivalents
Cash and ¢ash equivalents at beginning of yoar
Cash and cash equivalents at end of year
1,61 5,101
5,495,494
14,044.7921
9,540,286
7.110.595
5.495.494
The notes on pages 22 to 31 form part of Ihe5e fin￿r￿al statemerts.
20

Good Thlngs Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2021
General infomlation
The charity is a wblic benefit entity and a prNate compary limited by guarantee. registered in
England and Wales and a registered charity in England and Wales. The address of the registered
office is PO Box 6063. Sheffiejd. S11 OGU.
Statement of compllanco
These financial slalements have been prepared in compliance with FRS 102. 'The Financial
Reporting Siandard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice ap￿1¢able lo charities preparing their accounts in accordance wrth the
Financial Reporting Standard applicable in the UK and Republ￿ of Ireland (FRS 102) (Charil
SORP {FRS 1021) and the COmpan￿S Act 2006.
Accounting policies
Basis of preparation
The financial slalemenls have been prepared on the hislLYvI cost basis and are Frfepared in
51erting, whth is the functional currency of the entity.
Goin9 concem
The financial statements have been prepared on a going concern basis. The funding of the
organisation is generally agreed annually for the year to 31 March. Funding has been agreed in
principle for the following year and Ihe charity ha5 adequate reserves. The trustees consider that
there is no material uncertainty about the charity's aL¥"lity lo continue. hence they are confident that
the going eoneern basis is appropriate.
Consolidatlon
These financial stalements consolidate Ihe financial statements of Good Things Foundation and
all its subsKliary undertakings.
The parent company has applied the exemption Contained in section 408 of the Companies Act
2006 and has not presented its ind¢vidual profit and loss account.
Judgements and key sour¢e5 of estimalion uncertainty
The preparation of the financial slalemenls requires management to make judgements, estimates
and assumptK)ns that affect the amounts reported. These estimates and judgements are
continually reviewed and are based on experience and other factors. including expectations of
future events that are believed lo be reasonable under the circumstances.
In the opinion of the managemenl and Iruslees. there are no judgements or key sources of
estimation uncertainty that have a sIgnrf￿anI impacl on Ihe financial slalemenls. other than those
highlighted below.
Income tax
The charity is exempt from lax on income and gains, falling within part 11 of the Corporation Tax
Act 2010 or section 256 of the Taxalion of Chargeable Gains Act 1992, to the exlenl that these a
applied to its charrtable obje¢ts. No lax charges have arisen in the year.
21

Good Things Foundatlon
Company Limited by Guarantee
Notes to the Financial Statements (¢tyJll+)u¢d)
Year ended 31 July 2021
Accounting policies (conthu•
Fund accountin9
Unrestricted funds a￿ available for use at the diserelion of the trustees lo further any of the
charty's purposes.
Reslricled funds are subjected lo reslriclions on their expenditure declared by the donor or through
the lerms of an appeal and fall into one of sub-dasses- reslncted income funds or endowment
funds. There were no end¢)wmenl funds during the pericxj.
Incoming ro504irces
All income is included in the statement of financial activities when entitlement has passed to the
charity. il is probable that the economic benefits 855ociated with the transaction ￿11 flow to the
charity and the amount can be reliably measured. The following Spe￿r￿ policies are applied to
particulaf categcKies of ir￿me.
income from donations or grants is recognised when there is evidence of enlitlemenl lo
the grft, receipt is probable. and its amount can be measured reliably.
ineome from eonlracts for the supply of services rs recognised with the delivery of the
eontracled serviee. This is classrfied as unrestricted funds unless there is a ￿ntraCtual
requirement for il lo be spent on a parti￿lar wrpose and returned rf unspent. which
case il may be regarded as restr4Cted.
In the Australian subsidiary certain grants r￿e1Vable a￿ subject lo specified future conditions such
Ihal the grants are not re￿nISed until there is reasonable assurance Ihal the company wsll comply
with the conditions. Where grants are received prKJr to satisfying the revenue recognition criteria.
Ihey are induded as a ryedilor for deferred irwme.
Resources expended
Expenditu￿ is recognised on an acuuals basis as a liability is i1￿rred. Expenditure includes any
VAT which cannot be fully recovered because of part¢al exemption. and is cl85sified under
headings of the statement of financBI activities to which it relates".
expendilure on charilatAe activities inc5udes all costs incurred by a charity in undertaking
activities Ihal further ils charilable aims for the benefit of its beneficiaries, including tb05e
support costs and cosls rdating lo the governance of the charity apportioned lo charitable
aclivilies_
grants payable are provided to communty organisations and cenlres lo deliver grass rools
aclivilw. These activities are key elements of the contracts wlh funders and corporate
partners, and include basic digital skills support. English language learning and other
sessions.
I costs are allocated lo expenditure catego￿5 refiecting the use of the resource. Oirecl costs
allribulable lo a single activity are allrKated direcuy lo that activity. Shared costs are apportioned
be￿en the aclivilies they contribule lo on a reasonable. juslif43ble. and consistenl basis.
Operating leases
Lease payments are recognised as an expense over the lease temi on a straoht-line basis. The
aggregate benefrt of lease incenltves is recognised as a reduction to expense over the lease term.
on a slraight4ine basis.
22

Good Things Foundation
Company Llmited by Guarantee
Notes to the Financial Statements (continue
Year ended 31 July 2021
Ar￿UntIng policigs
Intangible assets
Intangible assets are inilialty recorded al cost and are subsequently staled at cost less any
accumulated am0rtlsal￿n and impairment losses.
The policy for capitalising development expenditure is specffic and capitalisalion only ctcurs when
certain criteria are mel. induding that..
the intangible asset developed is technulty feasible. will be available for use, and ils use
11 generate lulure economic benefits
there are adequate technical. financial. and other resources available to complete the
development
the expet￿lI￿re specrfic to the intarvJble asset during ils development can be measured
reliably
Expenditure that does nol meet the above criteria ts expensed as incurred.
Amortisation
Amortisalion is calculated so as lo vfflle off the cost of an asset. less its estimated residual value,
over the useful lrfe of that asset as fdluws-.
Development cosls
33% straight line
If there is an ind¢cation that there has been a sunrfKanl change in amort￿at￿3n rate. useful lrfe or
residual value of an intangible asset. the amorts"sation is revised prospectively lo refiecl the new
estimates.
Tangible assets
Tangible assets are inrtially recorded atcost. and subsequenWy Staled al cost less any accumulated
depreciation and impairrnent losses.
The policy for capitalisrng fixed assets is that items fyver £1.000 are inclu(led as a(Idilions.
Depreciation
Depreciation is Cal￿18ted so as lo write off the cosl w valualion of an asset, less its residual value,
over the useful econofflic lrfe of thal asset a5 follows:
Fixtures and fillings
orrice equiprnent
33% straight line
33% Stra￿h1 line
Impairment of fixed assets
A review for indicators of impaimient is carried out al each reporting date. wlh the recoverable
amount being eslimaled where such indicators exist. Where the carying value exceeds the
recoverable amounl. the asset is impaired xcordingly_
23

Good Things Foundation
Company Limited by Guarant••
Notes to the Financial Statements (Con1Mt￿
Year ended 31 July 2021
Accounling pollcies (conlinu¢d)
Financial instruments
Financial instrurnenls are classified and accounted f￿. according to the substance of the
conlraclual arrangernenl. as either financial assets. financial liabilities, or equity instruments. Any
equity instrument is any eonlrael that evidences a residual interest in the assets of the company
after deducting all ol its liabilrties.
Basic financial instruments are Initial￿ recognised at the amount receNable or payable including
any related IransaclK)n costs_ Current assets and current Itabililies are subsequenlly measured at
the cash or other consideration expected lo be paid or receNed and are not discounted. Financial
assets that are measured al cost or arno￿$ed ￿51 are revvwed for objective eviden￿ of
impairment al the end of each repryting date.
The exposure lo price risk, credit risk. I￿uldIty risk and cash flow risk is not considered material for
the assessment of the assets. liabilities. financial position and income or expenditure of the charity.
Pension contributions
The charity operates a defined ￿ntn"bUtion pension scheme for em ￿0YeeS. The assets of the
scheme are held separately from those of the charity. Contributions to defined contribution plans
are recognised as an expense in the per￿ in wh￿h the related service is provided.
Foreign currencies
Foreign currency transactions. monetary assets and liabilit*s denominated in foreign currencies
are translated al the exchange rate wling at the reporting date, with any gains or losses beiThJ
taken to the statement of financial aclivities.
Limbtèd by guaranteè
The company is a private company limite(i by guarantee and consequently does not have share
capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets
of the company in the evenl of liqu￿allon.
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2021
Funds
2020
Bank interest receivable
7.876
7,876
20.884
20.884
(Xher income- charitable activities
Unrestricted
FurMIs
Restr￿ted Total Funds
Funds
2021
Governmenl grants
Other grants
Other project Ir￿Me
Grants and contracts- Australia
5.118.129
4.855.853
139.320
2.738.201
3.790.755
9,973,982
139,320
3,876,575
4,138,399
1.138,374
347.644
6.604.147 11.524.129 18,128,276
24

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements (¢onithwdJ
Year ended 31 July 2021
Other Incomè- charitable acllvlties {conbnu¢
Unreslricled
Funds
Reslricled Total Fund5
Funds
2020
Govemmenl grants
Other grants
Other project income
Grants an¢J contracts- Australia
1,609,518
252,358
1.117,823
537,716
4.216.631
599.082
3.247,218
5,471.613
5.826.149
851.440
4,365,041
6.009,329
3.517.415 13,534,544 17,051,959
Other expenditure- charitable aclivities
Unrestricted
Funds
Restricted Total Funds
FurKJs
2021
Grants payable
Staff and HR costs
Netsvork and development costs
Eslablishmenl costs
Motor and travel costs
Office and other administration expenses
4.152.480
1.024.308
644.812
105.949
5.227
223,923
6.926.853 11.079.333
3.392.115
4.416.423
1.117.CK18
1.761.820
175.617
17.743
279.923
6.1 $6.699 11,574.160 17.730.859
12,516
56,000
Un￿StrICted
Funds
Restricted Total Funds
Funds
2020
Grants payable
Staff and HR costs
Network and develoFxment costs
Eslablishmenl costs
Motor and Iravel costs
Office and other adminislratK)n expenses
1,116,771
1.054,785
652,954
187.408
113.406
237,723
8.788,841
3.537,998
1.667,015
104.684
22.186
55.911
9,905,612
4,592,783
2,319,969
292,092
135,592
293,634
3.363,047 14,176,635 17,539,682
Office and other administration expenses indude Govemance costs..
2021
2020
Audit fees
Legal and consultancy fees
Costs of Iruslees, meelir
17.885
11.888
16,829
14,413
7.576
29.813
38.818
25

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continwdj
Year ended 31 July 2021
Auditors, rernuneration
2021
2020
Audit of parent company
Other assurance reports- grants
Other non-audil services
Audit of subsidiary- Savrdrd Dawson, Blackburn.
Australia
Other non-audil services- Saward Dawson
10.250
10.000
1,050
2,060
2,220
7.635
13.928
6.829
13.620
34.033
33.559
Net incomel(exp¢nditure)
Net incomel{expenditurel is stated after chargin￿(CredItIngl=
2021
2020
Amortisalion of intangible assets
3,708
Exchange drfferences recognised in the ￿cl)unts amounted to a loss of £9.57212020 £5.860).
10. Staff costs
The total staff costs and employee benefrts for the rep(ffting period are analysed as follows:
2021
2020
Wages and salaries
Social security costs
Pension contributions
3,739,635
425,300
264,556
4.429.493
3,716,045
392,678
266,088
4.374.811
The average head count of employees dufing the year was 105 {2020 115>.
The number of employees whose remunerabon fw the year fdl within the fdlowing bands, were:
2021
2020
No.
No.
£60.000 10 £69.999
£70.000 10 £79.999
£80,000 10 £89,999
£90.TrJO to £99,999
£140.000 10 £149.999
The amount attribula￿e lo the highest paid direcl(K was remuneratson of £148.829 (2020
£148.7291 and pens#)n contriLMJlions of £14.873 (2020 £14,873}.
Key Management Personnel
Key management personnel include all persons thal have authority and responsibility for planning.
directing and controlling the activities of the charty. The total compensation paid to key
management person￿1 for servtis provided to the charrty was £384.84312020 £386.108).
26

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements (contthw
Year ended 31 July 2021
11. Trustee rnmuneration and expenses
No remuneration is paid lo the trusleesjdireclors for their seNices as Irusleesldirectors. Trustees
Iravd expenses paid during the year amounted lo £Nil (2020 £411) for 012020 31 tfuslees. As a
staff rnulual organisalion. trustees indude staff members. H L Milner. J C Clark. S Mislry and J E
Speake until 18 June 2021. Staff costs and expenses indude £289.705 12020 £277.1291 of
remuneration. £28,930 (2020 £27.7131 of pension conlribulions. with £Nil 12020 £8,043} of
expenses for 012020 31 members of staff who are trusteesldireclors.
charity has insurance to indemnrfy the trustees. other officers and the charity against the
onsequence5 of any neglect or default on the part of the trustees. ern￿￿ees and agents.
12. Net incomelexpenditure attributable to members of the parent company charity
The nel income dealt with in the fina￿la1 stalements of the parent company charity was £340.620
(2020 net expenditure of £511,535}. This comprises net ineome on unrestricted funds of £390.651
{2020 net income of £130.5561 and net expenditure on restn'cled funds of £50,031 12020 nel
expenditure of £642.091}. Total income during the year amounted lo £14,137,207 {2020
£11.303.230) and lolal expenditure £13.796.587 (2020 £11.814.765).
13. Intangible assets
Group and tompany
Development
costs
Cost
Al 1 August 2020
Additions
60.920
At 31 July 2021
Amortlsatlon
Al 1 Augusl 2020
Charge for Ihe year
At 31 July 2021
Carrying amount
At 31 July 2021
Al 31 July 2020
60.920
3,708
3.708
57.212
27

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Ststements (corfin
Year ended 31 July 2021
14. Tanglble fixed assets
Group and company
Fixtures and
fittings
Equipment
Total
Cost
At 1 August 2020
Disposals
At 31 July 2021
Depreciation
Al 1 August 2020
Disposals
At 31 July 2021
Carrying amount
At 31 July 2021
Al 31 July 2020
62.242
(62.242)
6.602
{6.602)
68.844
168.844)
62.242
162.242)
6,602
16.6021
68,844
168,844)
15. Investments
Good Things Foundation Limited. a nol-for-profil company limited by guarantee and incorporated
in Australia. is controlled by Good Things Foundation. wh￿h is the sole member. Good Things
Foundation Limited was incorpyaled on 4 April 2017 and is fegislered with the Australian Charities
and Nol-for-profrts Commission. The registered off￿ of the company is 223 Liverpool Street,
Darlinghursl, NSW. 2010 and the Australian Business Number {ABNI is 92618363974.
The financpl statements for Good Things Foundab'on Limited. which have been included within
the consolidated financk41 statements for Good Thing5 FourKlation and translated at the year-end
exchange rate. may be summarised as".
SL*ement of Profrt or Loss and Other Comprnhensive Income
2021
2020
Revenue
Expenses
Surplus for the periryj
4.138.501
6.012,8
14,073,828} (5,969,005}
64,673
43,885
28

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements (contriKAdl
Year ended 31 July 2021
15. Investments (conrfnu¢d)
Staternent of Financial P(vJition
2021
2020
Current assets
Cash and cash equivalents
Trade and other receivables
Prepayments and accrued in￿rne
2,062.579
6,759
627
1,876,658
67,150
1.211
Current liabilities
Trade and other payables
Inlercompany current account
Unearned ir￿orne
1218,85S) 1102.1721
(280,364) 1172.7401
(1,376,127) {1,540.1621
194,619
129.945
Nel Assets
16. Debtors
Group
Company
2021
2021
2020
2020
Trade debtors
Amounts owed by group undertaking5
Prepayments and accrued income
VATIGST debtors
Other debtors
23.581
617.847
23,581
280.364
142.163
617,847
172.740
50,833
142.790
52.044
60,720
7.668
41.573
34.814
1,238
207.944
738.279
480,922
842,658
Amounts owed by grwp undertakings are Inte￿St free wilh no fixed repayment terms.
17. Creditors: arnounts falling du¢ within on• yoar
Group
2021
Company
2021
2020
2020
8ank loans and overdrafts
Trade C￿ditOrS
Aceruals and deferred incoffle
Deferred income - Australia
Social security and other taxe5
Pension contributions payal￿e
Other creditors
1,100.000
88.146
226.938
1,376.127
151.757
38,217
278
1,100.000
81,713
120,459
182,804
221,￿7
1,540.162
172,998
35.910
90,937
176,441
160,613
52,035
31,995
278
150,047
30,176
85,169
2.981.463
2.244.778
1.386.480
602,446
Included within creditors falling due wlhin one year are loans and firlancing arrangemen15 in the
Sum of £1.100.00012020 £Nill that are secured againsl the assets of the company.
29

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2021
18. Analysis of charitable funds
unrestrict￿ funds
Al
1 AU￿$t 2020
At
Income Expenditure 31 July 2021
Genera funds
1.830.552
6.612.023 {6,156.6991
2,285,876
R•stricted funds
At
1 August 2020
At
Income Expenditure 31 July 2021
Restricled Fund5
2.158,443
11.524.129 111,574.160) 2.108.412
Restricted funds at the balance sheet dale reflect funding profiles of major projed5 and are not
actual surpluses carried forvrdrd. The company yearond falls in the middle of funding periods for
major projects which run from 1 April 2021 10 31 March 2022. Hence these amounts are Profiled
lo be spent In line wlh the funding agreements by 31 March 2022.
19. Analysis of net assets between funds
un￿sIn'cte(j
Funds
Reslricled Total Funds Total Funds
Funds
2021
2020
Intangl￿e assets
Current assets
Creditors less than 1 y
Net assgts
57.212
57,212
3.934,359
3.384.180
7.318,539
6,233,773
(1,705.695) (1.275.768) (2.981,463) 12,244,778)
2.285.876
2.108.412
4,394,288
3,988,995
20. Operating lease commitments
The total future minimum lease payments under ￿n-CancelIable operating leases are as follows".
2021
2020
Not later than 1 year
45.986
125.832
45.986
125,832
Lease payrnen15 recOgn￿ed a5 an expense amounted to £116.￿2 (2020 £187.1201.
21. Related parties
There have been no related paty transactb)ns during the rep(xb"ThJ period. ex￿p1 transactions with
the Good Things F(xJndalion Limited. Australia_ The financial stalemenls do not indude disclosures
of all transactions behveen the subsidiary and ils parenl a5 Ihe subS￿￿Y s activities are 100%
controlled by Good Things Foundation.
30