O Good Things
Foundation
GOOD THINGS FOUNDATION
Company Limited by Guarantee
Consolidated Flnancial Statements
For the Period ended
30 JUNE 2022

Good Things Foundation
Company Llmited by Guarant••
Financial Statements
Period from 1 August 2021 to 30 June 2022
Pages
Trustees, annual report (incorporating the directors, report)
1to15
Independent auditorfs report to the members
16to20
Consolidated statement of financial activities (including income
and expenditure account)
21
Consolidated statement of financial position
22
Company statement of financial position
23
Consolldated statement of cash flows
24
Notes to the financial statements
25to34

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report)
Perlod from q August 2021 to 30 June 2022
The trustees, who are also the directors for the purposes of company law, present thelr report and the
financial gtslement8 of the charity for the period ended 30 June 2022.
Reference and admlnlstratlve detallB
Reglslered charfty name
Good Thlngs Foundallon
Charlty reglstratlon numb8r
1165209
Company r¢gl$tratlon numbor 05887661
Prlnclpal offlce and reglstgred Floor 3, Kollider
offlce
Castle House
Castle Street
Sheffield
S3 8LN
The trustees
H L Mllner
W J Perrin
E A Williams
RAGClare
CPBond
N A Wallace Dean
N Khan
H J Whel8n
D Bernard
J Hawker
L O Branch
V Ali
T S Hillsdon
S Mislry
J C Clark
Chlef Executive
Chair
(Appointed 25 M8rch 20221
(Appolnled 23 January 20231
(Appointed 23 January 20231
(Appolnled 23 January 20231
(Appointed 23 January 20231
(Appointed 23 January 20231
(Resigned 24 November 20221
IResign8d 20 October 20211
(Served from 20 October 2021 to
27 May 2022)
L A Faulkner
(Served from 25 March 2022 10
26 Aprtl 20221
A Barlow
Cornpany secretsry
A Barlow
Audltor
Hebblethwaites
Chartered accountants & slatulory au¢Jilors
2 Westbrook Court
Sharrow Vale Road
Sheffield
S118YZ
Bankers
The Cr>operalive Bank plG
Virgin Money plc
Cambridge & Counties Bank Limiled
Sollcltors
Stone King LLP

Good Things Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Dlrectors, Report) (conNnu8dJ
Period from 1 August 2021 to 30 June 2022
Good Things Foundation is a leading digital Inclusion charity, working in the UK. Australia and beyond.
We want lo fix the digital divide for good. We worf(, in partnership, in cities. lowng, and communities
to help peopl8 thrive in a digital world.
Change ofyear end
The financial year end of Good Things Foundation was changed from 31 July to 30 June, effeetive for
flnanci81 periods beginning on or after 1 July 2021, so as lo better align with the financial year end of
our m8lor funding partners. Accordingly. the ¢urrenl financial slatemenls are prepared lor 11 months
from 1 August 202110 30 June 2022 and as a result, the comparallve figures slated in the $laternenl of
fin8nclBI a¢livilies. sl8lemenl of finaneial position, $tslement of Cash flows. and the relate(J notes are not
d1￿clIY comparable. wlth these covering the 12 months frorn 1 August 2020 10 31 July 2021.
Our Alm8 and Objectives
Purposes and Alms
Our charity'8 purposes As Set out In the oblecls cont81ned in the company's Articles of Association ar8
for public benefit and are..
To develop the capaclly and skills of the members of the socially and eeonomieally dlsadvanlaged
community in such a way that they are beller able lo idenlify and lo h81p meet Ihgir needs and lo
participate more fully in 90ciety'.
To advance education of the public in digital skllls and in inforrnalion technology.,
To promote soeial inclusion among those who Are excluded from society and who lack either access
to online services Dr necessary skills in inforrnation technology or digi1818kills., and
To advance citizenship by developing the information technology ski118 ol the public so Ihal they
are better able to participate in society as active and responsible citizens.
Ensurlng ouv work dellvers our alm•
We review our aims, objectives, and activities each year. This review looks at what we have achievgd
in the last 11 months, and the benefits this activity ha$ driven for both pgoplg and communiligs. This
view also helps us lo ensure our aims, objectives and activities remain focused on our slated
purposes. We have referred to the guidance contained in tho Charity Commission's general guidance
on public benefit when reviewing our aims and objectives and in planning our future aclivilies. In
particular, the Iruslees consider how planned activities will contribute lo the aims and objectives they
have sel.
As a result of this review the way we operate as a charity and the way w¢ understand dlgital exclusion
has shifted. The Covid 19 pandemic has significantly changed the way we all live and work. It led to an
acceleration in the adoption and application ol digital technology which has bgen Iransformativo for both
people and busingsses. This has been the dominant arnd familiar narrative that we've all heard, read
and $9gn. The le55 familiar story is this.. the pandemic has deepened the digital divide, leaving the most
vulnerable people lagging further behind. We have learned that Fixing The Digital Divide will take a
different kind of response, because..
The current pace of progress will not fix the digital divide..
What works is a tailore(J and trusted approach lo supporting our rnost vulnerable,. and
The UK needs a strong social infraslruclure for digital inclusion.

Good Things Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directors. Report) rconlinued)
Period from 1 August 2021 to 30 June 2022
And whilst our pury)ose and aims ￿rna1n the same across the UK, Australia and globally. there are some
differences in the strategy we are now pursuing in each territory.
Our Strategy In the UK
There are 2 million households that struggle to afford intemet access in the UK today, and 10 million
adults lack the most basic digital skills. It is clear the UK faces a prolonged period of economic
uncertainly, and poverty wlll continue to drive digi1818xclusion, alongsid8 age and education levels.
Without action the digi181 divide in the UK will continue lo get bigger.
In May 2022 we launched our new slr8tegy. it has one mission..
Fix the Digital Divide in the UK - For Good.
Our new strategy sets out how we will lake forvlard OLtr mission. reflecting on what we learned during
the pandemic and the urgent action that is needed lo fix the digital divide. Good Things Foundation
IBunched an emergency response when the UK flrsl went into lockdown, provlding devices and data lo
people cul off in their homes. Thls helped our community partners respond lo the needs ol digitally
excluded people in their communitie5, as well as showing the commitment, crealivily and resilience that
are the hallmarks of the UK'S voluntary and community sector.
We are now scaling this mod81- bringing data and device8 into th8 heart of our action, alongside b8SIC
digital ski118 and building confidence and motivation all delivered with and through our National Oyi181
Inclusion Nelwork of thousands of community partners Ilhe Online Centres Nelworkl.
By the end of 2025. our amblllon18 10..
Engag8 1 mlllion people across the UK lo benefit from dig5181 incluslon.. and
Grow and support 5,000 active digital inclusion hubs, across the nation lo respond to local needs
Ilhis is the National Digital Inclusion Nelworkl.
We have three slraleoic principles that underpin our slrolegy. These principles expl8iTr the core purpose
of our organisalion and how we operate..
Everyone lo have the Snlernel access they need.,
Everyone lo have somewhere local lo go for help lo use the inlernel,, and
Everyone lo feel able And Safe in Ihe online world.
To achieve our mission, we have developed o new social infr8$lruclure which provides a ¢ompr¢hensive
service for digitally excluded people. An offer which any local organisation anywhere in the UK - can
use lo Fix Ihe Digital Divide in their communities. Comprising of..
The Nattonal Data Bank 'a food bank. bul for mobile connectivity dala" believed lo be the fi'rst
of ils kind glob811y. 11 exists lo ensure those experiencing data poverty can slay connected wrth
data donated by 02, Vodafone and Three..
The National Device Bank. a sustainable approach lo provide free access lo ￿furbIsheI doilal
devices, for those who cannot afford lo buy their own., and
The National Digital Inelusion Nelwork. A network which we plan lo grow lo 5,000 digital
inclusion hubs, where people can go lo gain digital skills and access the National Data and
Device Banks.

Good Things Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporatlng the Directors. Report) (coftllnuedj
Period from 1 August 2021 to 30 June 2022
Our Strategy In Australla
In Auslr81i8 our work continues lo focus predomin8nlly on providing support and coordination lo our
nebNork partners lo deliver digilal skills programs lo people in their local communities. We do this by..
8uilding capacity in community organisalions through digital mentor training and resources,
grants 8nd program support.,
Designing and deliverfng digitsl Incluslon programs that Bre speciAlised and communily-led.
creallng maximum social impact., and
Raising awareness of the need to closg th6 diollal dlvlde And advocating for thosa who are
digitally excluded.
Our digital inclusion programs are built on a communlty-based model, with targeted digital skills support
delivered locally by Irusled community organisalions, a network across Australia which now numbers
over 3,800. We cre81e Impact locally and at 8cale.
Good Things Australia's inili811v8s are deslgned lo reach those mogl al risk of being left behind in the
online world including women, low Income families, people wllh low English literacy, refugees and
migrants. First Nations people and people with élsabilily. Our current programs include:
Be Connected.. Our nalional network of over 3,800 ¢ommunlly organisalions deliver the highly
successful Be Conneclod digital skills program for Australians aged over SO. We upskill Digital
Mentors, manage the multi-million dollar grant3 program and support seniors to find help n8ar
them.,
Gel Online Week.. We run Australia'8 largest digital inclusion campaign, Get Online Wgek. Every
year in October, hundreds of community organisalions nalionwide host digital skills evenls to
support Australians lo fe81 more confidenl and capable online.,
Your Health In Your Hands.. We are delivering a digllal health literacy program in partnership
with the Australian Digilal Health Agency lo increase people's skills and confidence using onllna
health and wellbeing services., 8nd
Bridging the digital divide for young people with intellectual disability.. W8 are partnering with
Down Syndrome Australia Io co-design digital skills resources with and for young people with
intellectual dis8bllity and their support nefvlorks.
Our Strategy Globally
Whilst our core focus is helping people in the UK and Auglralia, we continu8 to evaluale opportunitle9
in other countries where we can use our skills and experience to contrsbute to digital equality aeross the
wodd. We are working direclly with NGOS in Romania and Poland to silPPOrt their mission5 to fix the
digital divide by working with local community organisalions and national partners-, we have made a
version of Learll My Way avallable lo them for local translation and conlextualisalion. Google.org
supported our work in Romania and Poland, as well as helpin9 us lo develop a 'digilal inclusion in a
box" set of assets in a reposS10ry for use by international partners.

Good Things Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directors, Report) (¢otttlnu¢d)
Period from 1 August 2021 to 30 June 2022
Achievements and Performance
How our actlvltles dellver publlc benefit
All of Good Things Foundation's charitable activities focus on h85ping pgople to be happier, healthier
and better off by being digitally able, equal and safe. Our main aclivilies and the peopl8 we have helped
are described below.
In the UK
From July 2021 June 2022, we worked hard lo increase awareness of digital inclusion and provide
Solutions lo fix the digital divide for good. We launched our Strategy 2022-2025 in May, which was
brave slep forward for us in recognising and r8sponding lo the challenge5 of our populations and buildlng
on solid evidence from our 10+ years, expenenc8.
For modern Britain, being digital capabl8- accessing data. devices, and having digital skills, mollvallon,
8nd confidence - is of indisputsble importance. These pillars of digital linlequality remain acute across
the nation..
On data- over 1 in 20 hou$8holds h8ve no internet aeeess, neither fixed line nor mobile (Ofcom's Adults,
Media Use and Alliludes Report, 20221. Ofcom also reported that 50/0 of households are experiencing
difficulty affording their fixed line broadband and 90k of hougaholds are having difficulty affording mobile
phone services (Affordability of Communiealion$ SeNlces. 20221. Lloyds Consumer Digital Index ICDI)
more recently found for Ihose offline, more than a Ihird134'kn) Could be persuaded lo use the internet Ir
mobile dats was cheaper120221,
Devlce affordability remains a barrier, os Lloyds CDI shows- of the half a million people with no int8m81
access, 32Qh do not own a device that enables them lo use the inlemet120221. 33°/0 of in18rnel non.
users could be encouraged lo go online, if devices were cheaper (Lloyds CDI. 20221. Devices also
represent issues beyond affordability, as earlier in the year 5.3 billion mobile phones were reported as
becoming waste globa￿lY by the end of 2022 - only a small fraclion will be disposed ol (WEEE Forum's
IT)lernalion81 E-wasle D8y, 20221. During 2020 the UK was reported as the world's second biggest e-
waste polluter, evidence which 15 yel lo be disproved (United Nations University et al.'s The Global E-
Waste Monilorl.
Finally, digital inclusion and skills remains a problem of great magnitude. 10 million UK adults do not
have foundalion-level skills (Lloyds, UK Consumer Digital Index, 20221 and we know that motivational
and material barriers such as income and 'interest" in using the inlemel is an issue for many (Good
Things Foundation's FDI programme, 20191- The community sector
of which our National Digital
Inclusion Network is root8d providès an informal learning environment ripe for people facing these
b8rrier5, yel often goes underfunded IFDI programme, 20191. A$ nine in ten businesses said a basic
level of digital skills is impotlant for emplDyees just last year. the urgency lo tackle the problem has
never been so apparent Ivvodd Skills UK, 2021).
We understand the scale of equipping people with the right tools to live and work in the digital world. As
do our strategic partners Virgin Media, 02 and Vodafone, who are trailblazers in the industry for their
sense of collaboration and social conscience. Thanks to our new strategy and partnership working,
we've been able to deliver a streamlined digital social infrastructure to communities across the UK. AII
of Ihis is reflected in our operational achievements and performance over the past financial period.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) Iconlinuedj
Period from 1 August 2021 to 30 June 2022
Data & Devlces
Since ils inauguration in August 2021 until June 2022, we have seen over 52.000 SIMS dislributed
through our National Databank.11 has become a brand within itsglf, and the end of July 2022 marked ils
one year anniversary. The National Databank was established with Virgin Media 02, and is a true
collaboration with mobile operators as it hosts 0.5 million SIM'S from 02, Vodafone and Three, 811
donated by the operators. Alongside community networf( members, we were involved in notable national
and region81 media coverage surrounding the event with the likes of BBC News Online, GB News,
STV, London Live, and This Is Money recognising our one year mark for the Nalional Databank.
In p8rtner$hip with Nominel, the D8la Poverty Lab is continuing lo investigate emerging issues of data
poverty and posslble solutions lo it. In February 2022, we 18unched our Fellowship scheme - offering
three awards of {up lol £12.000 each to explore key themes which emerged from the Data Poverty Lab's
year one research.. community solutions lo data pov8rty', language around dala povgty.. and internet
8cc955 as a human rlght or 8ss8nlial ulillly.
Linked lo the Data Poverty Lab, the Minimum Digital Living Standards IMDLSI project aims lo find
new approach to measuring digital inequalities, helping us benchmark the issu8 and lo know wilhoul
underestimating the challenges faced by households
how lo appropriately tackle it. We are co-
investigating with the support of Nuffield Foundation and Nomlnel, and more specific work is Unde￿aY
lo develop a Minimum Digital Living Standard for Wales supported by the Welsh Govemmenl.
Our understsnding to dale has ampllfied the need for 8ccesg, 8rgu8bly alarger barrler for many on the
wrong side of the digital divide. In March 2022, with support from Virgin Media 02. we launcheit our
National Device Bank - providing free, refurbished devices lo people who need them across the U.K. in
the hope to pair our data distribution with hardware lo use it. We're delighted lo be working with
refurbishing partner Reconome lo make this happen and building on our new device pilot. we're
continuing lo evolve the model's suslainabilily and ¢o$t effectiveness by distributing refurbished devices
from 13rg8-sc8le employers.
Dlgltal Incluslon & Sklll8
Learn My Way, our pivotal learning platform, conlinues lo host free courses for people lo learn digital
skills lo slay safe 8nd connected. The vast majority of our National Digital Inclusion Network uses Learn
My W8y and we have averaged at le8sI 5,000 users per month through the nelwork. In AprillM8y 2022.
we were delighted lo launch Learn My W8y Romania and Le8m My W8y Poland - conlribuling lo our
global reach.
Our reglonal work has continued to 50ar,' we were granted funding from the UK Community Renewal
Fund (UKCRF} to deliver three projects in Greater Manchester, the Wesl Midlands. and North Tynesid8.
We piloted our Community Digi181 Skills Pathway model and worked closely with the Mayoral Combined
Authorilles in all three areas to ensure its success. Based on learnings from the DfE funded progr8mme
Future Digital Inclusion IFDI. 2014 20211, the Community Digital Skill3 Pathway model supports
engagement, builds confldenee, and supports progress by positioning our communlly partners 8s the
starting point. It targets those typically disengaged with education bul have a need for essential digital
skills and connects them from the community setting to publicly-funded edtjcalion providers such as
Further Educ81ion colleges and 8dull education services to support progression
both lo Essential
Digital Skills Qualification at Entry LevellLevel 1, and to other types of learning. This is providing th81
Informal, community level engagement is essentr'al if the digitsl divide is to be fixed - the formally
provided Essent181 Digital Skills IEDSI entsllemenl is loo far removed from hard lo reach individuals and
a pathway is required lo remove the barriers lo starting on EDS.

Good Things Foundation
Company Limited by Guarantse
Trustees. Annual Report (Incorporating the Directors, Report) fconllnu•dJ
Period from 1 August 2021 to 30 June 2022
Dlgltal Incluslon & Skllls Icontlnuedl
Our work sought to overcome some of the core barriers to digital inclusion and through the funding we
lesled models of engagement. delivery. and partnership WDrking to ensure the best chance of
progression onto these serviees. Full evaluation of the Community Digitsl Skills Pathway will 18kg place
lo help inform our local delivery model and figure regional support and funding approaches.
Notable regional activity is the work we slarted in June 2022 with the London Offi'ce of Technology and
Innovation ILOTII and the Mayor of London to create the capital's first ever digital inclusion service,. Gel
Online London.
We ran another successful Gel Online Week in October 2021. our annual digital inclusion campaign,
which has been running for over a decade. We encouraged people lo "Try One Thing" online and saw
Network members from across the country run local events in their communities that giv¢ everyone the
ehance lo find the support they need to improve their digital capabilities. Last year we were thrilled lo
reach over 30,000 people with the eampalgn.
Oth•r Inltlatlvés
We continued to deliver the Power Up programme, funded by J.P Morgan Chase Foundation, which is
driving economic inclusion through digital in communities - powering up people, provision, and places.
In April, we joined the NHS'S Health & Wellbeing Alliance. A8 the first digital inclusion charily lo loin the
alliance, our membership gave us the opportunity lo build relationships with many other like-mind8d
organisalions and forge connections into the health sector that we otherwis8 wouldn't. We deliver8d
projects on accessibility guidance and designing digrtal services, with the needs of those wlth protected
charaeleri81ics in mind, and supported many other VCSE organlsalions on their own digltal projeels.
The Scheinberg R8lief Fund helped u9 in enabllns lesling of our model specifically to support older
people, namaly of community engagement and p88r support within our network, in the form of project
"Conn8el Up" The projeel piloted our approach lo management and onboarding, and evolved our
measurement approach which has in turn shaped our future aclivilies.
We continued lo deliver benefits advicg through our partnership with HMRC, delivered alongslde support
for developing basic digi181 skills.
AJI of our activllles wouldn't be posslble without our Strategic Partnershlps. whl¢h have $lgnlfic8nlly
elevated our work and help us achieve our missitsn. We look forward lo Continuing our collaborative
spirit Snlo 2022-2023 and beyond. as we continue to work in partnership lo fix the digital divide - for
good.

Good Things Foundation
Company Llmlted by Guarantee
Trustees. Annual Report Ilncorporating the Directors, Report) (th>n￿￿￿•￿j
Period from 1 August 2021 to 30 June 2022
In Australi
Online conneclion was essential during extended lockdowns and in response lo natural disasters.
However. the 2021 Australian Digital Inclusion Index Indicated that 1 In 4 people in Australia are missing
out on the benefits of being online due lo a lack of 8ffordable access, skills or confidence.
That's why in 2021122, one of our key priorities was on connecting decision makers lo the issues of
digital exclusion and what can be done about it. We raised awareness through the release of our Digital
Nation report in October 2021 and highlighted our solutions through the release of our first Blueprint lo
Close Auslralla's Digilal Divide. We brought together community. government and corporate partners in
our first Digital Nation conference And through a series of roundlables on digital health and on digital
inclusion for people with intellectual disabilities.
Our focus on how conne¢ling online can improve outcomes and equity of access s8w us create new
resources and digital inclusion iniliallves lo support our 3.800 community partners through COVIO and
natural disasters. Our support included creating tailored resources on using QR codes, a new digital
health literacy program, Ihe Daybreak Digital Health Navigator Design Project, and gr8nls for communlly
organisations lo loan digital devices lo learners. We expanded our partnerships and programs lo support
even more people in need, like our work with Down Syndrome Australia lo build online learning
resources for people with intellectual disability.
This year also highlighted the incredible scale and impact of our Nelwork delivering digital inclusion
programs locally. We reached the amazing milestones of having reached 1 million people and
distributed $20 million in small grant funding lo our Nelwork lincluding $3.4m this ye8rl, through Be
Connected, our communily-based digital skills program aimed al Auslraliang aged over 50. With the
extension in program funding to 2024. new initiatives were implemented lo beller support older
Australians.
Dvring Gel Online Week in O¢lobgr 2021, we encouraged Australians to 'Gel onllng. Gel connected. so
they can slay in touch with their loved ones, engage in school and work, and discover the pos$ibilitig¥
of the inlernel. We provided $458,000 of funding which enabled more than 1,000 events lo be helé
nationwide, reaching 15,400 people, involving over 400 community organisalions.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) (continvedl
Period from 1 August 2021 to 30 June 2022
Flnanclal Revlew
Prlnclpal Fundlng Sources
This year, for the fir51 lime the majority of our UK funding came from the private sector. whereas
hislorieally our pnncipal funders have been central Government Departments. The shift In funding mix,
reflects the success of our new strategy, with funding secured from a number of corporate organisalions
throughout the period, but also a reduction in Government funding opportunities following the devolution
of the Adull Skills Budget and the Essential Digital Skills enlillemenl that came into place in 2020 in
England, The diversification in funding has continued post the period end, with us being delighted lo
announce slr8legic partnerships with our first 2 slralegic partners, Virgin Media 02 in August 2022 and
Vodafone in December 2022.
In addition lo fundin9 from our 81rat8gic partn8rs Viroin Medla 02 and Vodafone, funding was also
received from a number of other private organlsallons and charitable trusts includino". Nominet,
Google.org, Yorkshlre Building Society, Scheinberg. JP Morgan Chage Foundation, Nuffield
Found81ion, Capila. Lloyds Banking Group, 8T, Accenture, Enterprise Blueprint, the co.op and
MelhiKJs. Although no longer the domingnl source, Government funding continues lo be important with
funding provided by the following local and centre Government enlilies in the period.. Department for
Education, His Majesty's R8venue and Customs IHMRCI. His Majesty's Courts & Tribunal Service
IHMCTSI, the Department lor Culture, Media and Sport IDCMSI, Greater Manchester Combined
Aulhorily, Wesl Midlands Combined Aulhorily, Ncrth East Combined Aulhorily, National Health Service
{NHSI, and the Welsh Government.
Our principal funder in Australia is the Australian Government through the Department lor Soci81
Services IDSSI. We also received income fn)m the Offiee of the eSBfety Commi$$ioner and the
Australian Digital Health Agency.
Fln8n¢l•l R•vlew of the year
In th8 11 month period 1 August 202110 30 June 2022, the Group had lolal income of £8,889.780 (Year
to 31 July 2021.. £18,136,152), lolal expendllure of £9,678,688 12021.. £17,730.8591, resulting in nel
expenclilure of £788,908 lor the period12021'. nel income of £405,293). The reduction in total Income
and expenditure In the current period compared to the previous ye8r, is largely altribulable to three non-
recurring Government projects undertaken in the prior year (for the Department of Education IDfEI,
Department for CullLJre, ljedia and Sport IDCMSI, and the Office for National Slalistics IONSII, that
ollectively provided over £9.000,000 of income.
The net expenditure of £788.908 comprises a nel inflow of unre$tricted funds of £628,654 and 8 nel
outflow ol reslricled lunds 01 £1,417,562.
The nel incoming unreslricled resources of £628,654 in the period, is prtmarily as 8 result of receiving
our first receipts of funding from our strategic partners. These have been 8dded lo our free ￿SerVeS
and become available for us lo spend on any activity that SLJPF)Orts our charitable objectives and delivery
of our strategy. Any excess amount above the reserves that we need lo set aside to manage risk, will
be invested in our charitable objectives. As of 30 June 2022, the Group is carrying forw8rd free or
unrestricted reserves of £2,914,530. Of this total, £2,777,320 relates lo the UK charity and £137,210
relates lo the Australian charity.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) fcontinv8dJ
Perlod from 1 August 2021 to 30 June 2022
Flnanclal Revlew of the yoar {contlnued)
Restricted funds have to be ulilised on the projects 8greed with the funders who granted or donated
these funds, Many of Ihe projects undertaken span more Ihan one linancial accounting year. In such
cases, any reslricled funds received in the UK charity that have not 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 outflow of
reslricled funds for the year is not a dglicil bul a liming difference between when we re￿1ve reslrieted
funds for a prolecl and when we carry out that project. Al the ené of the year, we are Carrying fO￿ard
£690,850 of reslricled funds lo be ulilised in future years on the relevant projects. These reslricled funds
relale lo the UK Charily only
Cash and ¢a$h equivalents were £3,802,704 al 30 June 2022 131 July 2021.. £7,110,595). The
£3.307,891 reduction in the cash balance in the 11 month period 1 August 2021 10 30 June 2022
includes the full and on-time repayment in December 2021 of a £1.1 million loan we received fmm the
Government's Reslllence and Recovery Loan Fund In the prior year (January 20211.
Investment pollcy
Aside from retaining a prudent amount in r8serv8s each year lo cover risks and provide lor working
Capital. the charity s funds are lo be sp8nl in Ihe short term 8s sel out in our funding conlracls, SD there
are no funds for long term investment. Any funding received in advance is Invested in either an instant
access or 8 90-day deposit account depending on our cash flow requir8menls.
Group Re8••v•s pollcy
Good Things Found81ion's reserves poliey focuses on the level of free reserves. Free reserves exclude
reslrieled funds and designated funds. Our UK and Australian entities have independent reserves
policies sel by their local management teams and Board of Trustees, which combine lo form the Group's
reserve policy. The recommended free reserves level is calculated annually in advance ol the budget
process, by each entity based on the specific risks and opportunities facing Good Things Foundation in
each of these territories. The level of free reserves is monitored on an ongoing basis, with the policies
reviewed annually by Good Things Foundation's Group and local Boards.
Good Things Foundation seeks lo maintain free, unreslricled reserves lo manage the risks to which we
are exposed in th8 course of our business, Includlng bul not limited to miligaling uncertainties in our
funding and earned income, in our core operating countries of the UK and Australia. The reseNBs are
81s0 neèded lo meet the working capllal requirements of the charity which are becoming a hoher risk
for us as w8 continue lo diversify our funding stream5, including into allracling unreslricled donations,
and the longer term expenditure commitments we are making, arising from our strategic partnerships
and (Jelivery of our new 3 year slr81egy. Any surplus on free reserves abovg the amount we need will
be invested in our charitable objectives.
Group Reserles sltuatlon
The 8oard has deeided that In order lo meet these needs, and lo operate effetlively, G(IDd Things
FoLJndalion needs unrestricted Group reserves of between £2,300,000 and £3,400,000 based on the
currgnt analysis of risk. Currently our total unrestricted reserves are within thi5 range.
10

Good Things Foundation
Company Limited by Guarantee
Truslees. Annual Report (Incorporating the Directors, Report) (continuedl
Period from 1 August 2021 to 30 June 2022
Plans for future perlods
In the coming year, we will continue ID deliver activity that helps us lo fix the digital divide in both the UK
and Australia.
In the UK as sel out in our slralegy, our core focus will be on Investing in th8 National Digital Inclusion
Nelwork, the National Databank and Device Bank, lo provide free access lo the digital world for Ihose
currenlly excluded due lo affordability. Our fundraising efforts will concentrate on recruiting additional
slrale9ic partners. lo provide us with the funding required to deliver our ambilic)u$ strategy through to
2025,, this includes income that we allocated lo local community partners through grant funding
applications.
As sel out In our strategy, we will conllnue to grow our ex151ing p8rtngrs, and develop new ones that will
allow u5 to reach new audiences, test innovative approaches and grow our impact so we can achieve
Dur aim of a world where everyone can benefit from digltal. This will porticularly focus on the impact we
can have dislribuling data and devices lo those in need, In order lo overcome digi181 gxclusion.
We will also look lo grow and dgvelop our collaboration with our community networks of digital inclusion
hubs, in order lo continue lo help people lo benefit Irom the internel, working wilh both community and
strategic partners lo address Ihe challenges of the posl-covid 18ndsc8pe. Supporting our communlly
nelwotl(s in both the UK Ènd Au8tr81ia will conllnue lo be a central focus for us, and we wlll ensure their
voices can be heard, as well as support them in Ihe vital work they are doing In communities lo support
some of the most excluded people lo cross the dlgitsl dlvlde.
AS alway$, we will be informed by re$e8r¢h and insight, and focused on delivering activity that meets
the needs ol both our community network and those they 5UPPOrt, and we will continue lo showcase the
benefits of research and evaluation.
In Auslr81ia, we will continue lo support our national network of 3,800 local partner5, who help us lo
deliver Communlty-led digital In¢lusion programs such as Be Connected, and we will build new
partnerships and programmes so we con expand our impact. and the audience groups we can reach.
Campaigning lo fix Ihe digllal divide for goad wlll remaln a core part of our work a5 we wlll continue to
advocate for both our community partners and for ¢Jigilally excluded people, in both the UK and Australia,
and beyond.
We will continue lo be arnbitious about our impact to ensure that everyon8 Can thrive in 8 digital world.

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Dlrectors, Report) (continu
Perlod from 1 August 2021 to 30 June 2022
Slructure, Governance and Management
Governlng Document and organlsatlonal structure
Good Things Foundation's goveming document is ils Memorandum and Articles of Associ81ion which
established the oblects of the ch8ritable company and is governed under its Articles of Association. We
are a ch8ritable eompany limited by gu8ranlee sel up on mutual principles. with three staff members
elected to Slt on our Board. together with our Chief Executive, We were incorporated on 26 July 2006.
and we began Irading on 1 December 2011.
On 19 January 2016, Good Things Foundatlon became a registered charlty,. one of the lirsl charities In
the UK to retain ils mutual founding principles, after approval from the Charities Commission. This was
a major achievement for the organisation and has helped lo ensure that we remain grounded in the
needs ol those we support as we have gfown our impact.
All st8ff of the UK Charity who have been in post for 81 least six months can become members of the
company, together with the extemal non-execulive direclors. In the event of the company being wound
up. members are required lo contribute £1 toward the selllement of 8ny comp8ny debts.
In April 2017. we established Good Things Foundation Ltd, a chanly in Australia, of whom Good Things
Foundation is the sole Member. This helps us lo éeliver our mission. export know-how. and reach more
people. We run the two charities as a Group, with both charities sharing the same objeels and working
closely together lo ensure suc¢•ss.
A scheme of delegation 18 in place and day lo day respon8ibilily for the provision of the UK services
rests wllh the Group Chief Executlve and the UK Senior Management Team. Through the Group Chlef
Executive, the Group B08rd is responsible for ensuring that the Group is successful and leg81, 8nd that,
in the UK, the charity delivers ils Ihree-year strategy and the key performance indicators are met. In
Australia. the Chair of the Board and the CEO lor Good Things Foundation Australia have delegated
responslbllity for the leadershlp 8nd operations of the charity in Australi8, 8s well 88 for compliance with
Australian laws and good Govemance. A clear schedule of delegated responsibilities sets out the
relallve accounlablllties to the respective Boards and Offlcers.
In October 2019, we began regular bi-annual meetings of a Joint Committee fomied of
TrusleeslDireclors from the GrouplUK and Australian Boards. 11 Is al this Commlttee that we approve
Group level strategies and plans, as well as consider the Group-level risks.
12

Good Things Foundation
Company Limited by Guarantee
Truslees. Annual Report (Incorporatlng the Dlrectors, Report) fconlinu8dJ
Period from 1 August 2021 to 30 June 2022
Recrultment and tvalnlng of Trustees
The directors of Good Things Foundation ￿n the UK are also charity Iruslees for the purpose of charity
law. Under the requirements of the Articles of Association, the directors are elected lo serve for 8 period
of three years after wtyich they can sland for re-election at the next Annual General Meeting.
Our Board of Directors in the UK consi918 of elected and appointed éireclor9. The elected directors
consist of three staff directors elected by our staff. The appointed directors. which musl be 8t least four
and up lo ten in total, 8re appointed to flll relevant skllls gaps on our Board via open advertisernent and,
where 8ppropri81e, by using a recruilmenl agency wllh experienee in recrulling ch8rily trustee$.
The Group Chlef Execullv8 Is 8ppointed for the lerm of her employment as Group CEO al Good Things
Foundation.
Trustees arg provided with 8 buddy from the existing Bo8rcl 8nd given the opportunity lo allend events
and visit prolecls lo increase their understanding of what we do. We tailor induction to meet their needs
thi8 can include shadowing senior staff or briefing sessions with teams 8cross the organisalion.
Rlsk management
A Group Risk Register has been produced and is updated and r8view8d al each Board meeting in the
UK and Auslr8lla, and the 8oards' Joint Committee. Systems and procedures are established lo miligale
the risks the charities face. Procedures are in place lo ensure the health and safely of staff and visitors
lo our premises.
Tha prlnclpal rlsks and unc•rtalntl•s f•clng th• company
The glob81 economic outlook is far less rosy and more volatile than a year ago. Growth projecllons for
2023 are w611 balow long run averages, wllh major economies including the UK and Australia, being
Impacted by high and sustained inflation, rising interest rates, pollllcal uncertalnty and ongoing
challenges ¢r&aled by the Covid-19 pandemic. Thero Is S￿nIficant pressure on public finances and 8
risk Ihal the declining tffjnd in Government funding for digital inclusion inilialives and charities in general
continues as both Governments look for cost savings, creating funding challenges across the sector.
In response lo the ine￿ased risk and ehanging naturè of the funding 18ndscap&, in th8 UK we h8V8
diversified our funding gre311y in the past year and w8 are far less reli8nl on government lunding than
we have been in the past. Most notably this has crystallised in securing our first 2 slralegic partners,
Virgin Media 02 IAugus120221 and Vodafone Ioecember 20221. who have committed lo providing us
funding in each of the next three years.
We continue to advocate for Government funding and investment into digital indusion, and malntsin
strong relationships 8cross a number of key government departments in the UK and Australia.
Inflationary pressures are starting to feed through and we are starting lo see an impact on our cost base
and our ability lo recruit staff. Strong cost managemenl and efliciency and ralionalisalion projects have
helped manage these pressures lo date, but there is a risk that the current high iriflalion persists for a
sustained period of lime, leading to a material rise in operating costs. We monitor our finances closely
and have sufficient waming systems and reserves in place to allow us to lake action to address any cost
challenges that may arise. albeit these actions may reduce the level of impacl we can hav8,
13

Good Things Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) I￿ntInued)
Perlod from 1 August 2021 to 30 June 2022
The prlnclpal rl8k8 and uncertalntle$ faGlng the company Icontlnuedl
Our new Strategy In the UK and the evolution of our operating model in Australia requires investment in
our technology archileclure, so we can dellver our impact nationally and al scale. The labour market for
soflwaie and leeh staff In the UK 1$ very light, there is a risk we will be unable lo sourc8 the skills required
lo deliver our tech transformation,. to mitigate this risk we are 8xploring the use of contractors and prov
bono le¢h support from partners, We are managing our Group Technology Roadmap c109ely wlth a
move towards more off-the-shelf software for increased ease of integrallon aeross our Group
architecture as well as Ireeing up current high oper81ional overheadg to be able lo focus higher vAlue
tasks in the future. As this is a complex sel of inlerconnecling systems. proce9$es and software, this
ri8k and th8 mitigalions are monitored by the B08rds Ihrough the risk register.
While working inlernalionally provides ug with great opportunltles lo make 8 woddwide irnpacl and to
raise income. this is by nature riskier than working in the UK, We have developed and mainlalned risk
registers for each major project. High risk items are escalated lo the Group Risk Register when needed.
Trustees. re8ponilbllltl•8 8tatem•nt
The Iruslees. who are 8150 directors for the purposes of company18W, are responsible for preparing the
Iruslees, report and the flnancial slalemenls in accordance wllh 8ppIic8ble law and United Kingdom
Accounting Standards (United Kingdom Generally Accepled Accounting Praclicel.
Company law requires the charity truste88 lo prepa￿ financlal slal&menls for aach year which give a
true And fair view of the slate of affairs ol the charitable company and the incoming ￿$OUrCeS 8nd
application of re80urces, including the incom8 and expenditure, for that period.
In pieparing these fin8nclal $18lemenls, the Iruslees 8re requi￿4 lo..
select suitable accounting policies and then apply them consiBlenlly',
obseNe the methods 8nd principles in the applicable Chanlies SORP.,
make judgments and accounllng estimates that are reasonable and prudent..
slate whether app5icable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements., and
pffjpare the firnancial slalemen15 on the golng conc8m basis unless il is Inappropriate lo presume
that the charity will continue in business.
The trustees 8re responsible for keeping adequate accounting records that are sufficlenl lo show and
explain the charity's Iran$a¢llon$ and disclose with ￿asOnable accuracy 81 8ny time the financial
position of the charity and enable them lo ensure thai the financi81 stalemenls comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for laklng reasonable steps for the prevention and detection of fraud and other irregularilles.
14

Good Things Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directors, Report) (¢tsnllntsed)
Period from 1 August 2021 to 30 June 2022
Audltor
Each of the persons who is a trustee at the dale of approval of this report confirms that..
so far as they are aware, there is no relevant audit information of which the charity's auditor is
unaware; and
they have taken all steps that they ought to have taken as a trustee to make Ihemselves aware of
any relevant Audit information and to establish that the charity's Auditor is aware of that information.
The auditor Is deemed to have been re-appointed In accordance wllh section 487 of the Companles Act
2006.
The Iruslees. annual report and the strategic report were approved on
on behalf ol the board of Iruslees by..
and signed
H L Mllner
A Barlow
Trustee
Charity Secretary
15

Good Things Foundation
Company Limited by Guarantee
Independent Audltorfs Report to the Members of Good Things Foundation
Period from 1 August 2021 to 30 June 2022
Oplnion
We have audited the financial slalemenls of Good Thing5 Foundation {Ihe'charily'l for the period ended
30 June 2022 which comprise the group consolidated slalemenl of financial activities (including income
and expenditure accounll, the group and the company slalemen15 of financial position, the gr(NJp
statement of cash flows and the related notes, irncluding a summary of significant accounling 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 Iunlted Kingdom Generally Accepted Accounting Practice).
In our oplnlon the financial stalemenls..
give a true and fair view of the stale of the group and the parent charity's affairs as al 30 June 2022
and of the group's incoming resources and application of resources, includlng ils income and
expenditure, for Ihe perlod then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Ac¢ounling
Pra¢llce',
have been prepared in accordance with the requirements of the Companies Act 2006 and the
Charities Act 2011.
Bas18 for oplnlon
We conducted our audit in accordance with Inlernallonal Standards on Auditing IUKI IISAS IUK)} and
appllcable law. Our r8sponsibililies under those standard5 are further described in the auditor's
responsibilities for the audit of the financial slalernenls section of our report. We are independent of the
Charity in accordance with the ethical requirements that are relevanl lo our audit of the financial
statements in the UK, including Ihe FRC'S Ethical Standard. and we have fulfilled our other elhitsl
responslbllilies In accordance with Ihese requirements. We believe Ihal the audit evidence we have
obtained Is suffi¢ienl and appropriate lo provlde a basis for our opinS0n.
Conclusion8 rolating to going ¢onc•rn
In auditing the flnancial slatemenls, we have concluded that the trustees, use of the going concern basis
of accounting in the preparation of the financlal slatemenls is appropriate.
Based on the work we have performed. we have not idenlrfied any material uncerlainlies relating to
events or conditions that, individually or collectively, may cast significanl doubl on the ¢harity's ability to
¢onlinue as a going concern lor a period of al least twelve months from the dale when the financial
statements are aulhorised for Issue.
Our responsibililigs and the respon5ibilitie$ of the Iruslees wilh respecl lo golng concern are described
in the relevant sections of this report.
16

Good Things Foundation
Company Limited by Guarantee
Indepgndent Auditorfs Report to the Members of Good Things Foundation
(contlnued)
Period from 1 August 2021 to 30 June 2022
Oth¢r Infonnation
Th8 olh8r information comprises the information Included in the annual report, other than the financial
slalemenls and our auditor's reporl Ihereon. The Iruslees are responsible for the other informalion, Our
opinion on th8 financial slalemenls does not Cover the other information and, except lo the exlenl
otherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon.
In connection with our audll of the financial slalemenls, our r85ponsibilily Is lo read the other information
and, in doing so, consider whether the othèr Information is materially inconsislenl with the financial
slalements or our knowledge obtained in the audit or olhorwis8 appears lo be materially misslaled. If
we idenlrfy su¢h material inconsisl8ncies or apparent material misslalemenls, Y48 are required lo
determine whether the￿ is a material misslalemenl in the flnancial slalemants or a material
mi$$talemenl of the other information. If, based on the work we have performed, we Conclude that Ihere
is a material misslalemenl of this other information, we are required lo raporl that fact.
We have nothing lo report In this regard.
Oplnlons on other matters prescrlbed by the CompanlOB Act 2008
In our oplnion, based on the work underiaken in the cwrse of the audit..
the information given In Ihe Irusloos, report for the financial period for which the flnancial
statements 8re prepared is consislenl with the financial slalemenl$,' and
the Iruslees, report h88 been prepared in accordance wlth applicable legal requirernenl8.
Mattors on whlch wo aro requlred to r•port by •x¢oPtlon
In the light of the knowledge and underslandlng of the charity and ils environment obtained in the course
of the audit. we h8ve not identified material misstatements in the trustees, report.
We have nothlng lo report in respect of the following mallers in relallon lo which the Companies Acl
2006 and the Charities Act 2011 requires u8 to report lo you If, In our opinion..
adequate accounllng records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement wlth the acccNJnllng records an¢J returns. or
certain di$¢lo$ures of Irusloes, omuneralion specrfied by law are not mad8', or
we have not received all the information and explanations we require for our auijil.
17

Good Things Foundation
Company Limitsd by Guarantee
Independent Auditor's Report to the Members of Good Thlngs Foundation
f¢ontlftued)
P•rlod from 1 August 2021 to 30 June 2022
Responslbilitios of trusto08
As explained more fully in the trustees, responsibilities slalemenl, the Iruslees {who are also the
directors for the purposes of company lawl 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 ¢ontrol as the trustees
determine is necessary lo enable the preparation of financial $latemenls that are free from material
mis51alemenl, whether due to fraud or error.
In preparing the financial statemenls, the Iruslees are responsible for assessing the charity's ability lo
continue as a going concern, disclosing, as applicable, matters related lo going concern and using the
going concern basis of accounting unless the Iruslees eilher intend lo liquidate the charlty or lo cease
operations, or have no realistic alternatlve but lo do so.
Audlto¢8 rn8ponslbllltleB for the audlt of tho financial 8tatement8
Our obj8clives are lo obtain reasonable assurance about whether the financial slalemenl$ a$ a whole
are free from material mis51alemenl, whether due lo fraud or error, and to Issue an auditor's report that
include5 our opinion. Reasonable assurance 18 a high level of assurance bul is nol a guarantee that an
dil conducted in accordance with ISAS {UKI will always delecl a material misstalemenl when it exist5.
Mi$slatemenls can arise from fraud or error and are considered material if, indiviéually or in the
aggregate, they could reasonably be expected lo influ8n¢e the economic decision8 of user8 taken on
the basis of these financial slalemenl9.
Irregularities, includlng fraud, are in$lan¢es of non-compllance with laws and regulations. We design
procedures In Ilne wllh our responsibililies, outlined above, lo delecl material misslalemenls In respect
of Irregularities, including fraud. The extent lo whlch our procedures are capable of detecting
Irregularilies, Includlng fraué, Is detailed below..
We Identify and assess the risks of material mlsslalemenl of the financlal slalemenls. whether due lo
fraud or error, and then design and perform audit procedures ￿spOnSive lo those risks, including
obtaining audit evidence that Is sufflcienl and approprlale lo provide a basis for our opinion.
In id8nlifying and assesslng risks of material misslalemenl in respect of Irregularities, including fraud
and non-compliance with laws and regulations, we consideféd the following..
the nature of the industry and sector, control environment and business parformance, including
the idenlrficalion of related party Iransaclions. and matters whlch could potentially impact on the
charity's conlinualion as 3 going concern,,
results of our enquiries of management and assessment of the risks of irregularities..
any mallers we idenlrfied having obtained and reviewed the ¢harity'$ documentation of their
policies and procedures relating lo..
idenlrfying, evaluating, and complying with laws and regulats'ons and whether they were
aware of any instances of non-compliance.,
detecting and responding lo the risks of fraud and whether they have knowledge of any
actual, suspected, or alleged fraud.,
the internal controls established lo mitigate risks of fraud or non-compliance with law5
and regulations,
the mallers discussed among the audit engagement team, including how and where fraud might
occur in the financial statements and any polenlial indicators of fraud.
18

Good Things Foundation
Company Limited by Guarantee
Independent Audltor's Report to the Members of Good Thlngs Foundatlon
Icontlnued)
Period from 1 August 2021 to 30 June 2022
A5 a result of these procedures, we considered the opportunities and incentives that may exisl within
the organisalion for fraud and identified the greatest potential for fraud in relation lo revenue recognition.
In common with all audits under ISAS IUKI, we are also required lo perform specific procedures to
respond to the risk of management override.
We 8180 obtained an understanding of the legal and regulatory frameworks that the Charity operates in,
focusing on provisions of those laws and regulation¥ that had a dlrecl effect on the delerminalion of
material amounts and disclosures In the financlal 51atemen15. The key law5 and regulation5 we
considered in thi5 context included the UK Companie5 Act, UK Corporate Governance Code, Chariligs
SORP and local lax leglslalion.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on
the financlal statements bul compliance with which may be fundamental lo the charily's ability lo oper81e
or lo avoid a material penalty.
We also communicated relevant identified laws and regulations and potential fraud Asks lo all
engagement team members. and remained alert lo any indic81ions of fraud or non•compliance with laws
and regulations throughout the audit.
As parl of an audit in accordance wllh ISAS IUK}, we 8xer¢ise professional ludgmenl and maintain
professional s¢epllci$m throughout the audit. We al80'.
Identify and assess the risks of material misslalemenl of the financial 81alemenl8. whether due lo
fraud or error, design and perform audit procedures responsive lo Ihose risks, and obtain audit
evidence that is sufficient and appropfiale lo provide a basis for our opin￿n. The risk of not
delecling a material misslalemenl resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery. intentional omissions, misTepres8nialions, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order lo design audit procedures
that are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the
effecliven8ss of the internal control.
Evaluate the appropriateness of accounting policie5 used and the r8asonabl8n85s of accounting
esliTllates and related disclosures made by the Iru51e85.
Conclude on the approprlaleness of the Iruslees, use of the going concern basis of accounting
and, based on the audit evidence obtained. whether a material uncertainly exists related lo events
or conditions that may cast significant doubl on the charity's ability lo continue as a going concern.
If we conclLJde that a material uncertainly exis15, we are required lo draw 811enlion in our auditor's
report lo the related disclosures in the financial 51alemenls or, if such disclosures are inadequate,
lo modrfy our opinion. Our conclusions are based on the audit evidence obtained up lo the date of
our auditor's report. However, future events or conditions may cause the charity to cease to
continue as a going concern.
Evaluate the overall presentation. structure, and conlenl of the financial 51atemenls, including the
di$¢lo$ure$, and whether the financial slalemenls represent the underlying transactions and everst8
in a manner that achieves fair presentation.
19

Good Things Foundation
Company Limited by Guarantse
Independent Auditor's Report to the Members of Good Thlngs Foundation
(c￿&T￿￿ed)
Poriod from 1 August 2021 to 30 June 2022
Obtain sufficient appropriate audit evidence regarding the financial informallon of the entities or
activities within the group lo express an opinion on the consolidated finallcial slalemenls. We are
rèsponsible for the direct￿n, supervision. and performance of the group audit. We remain 5018ly
responsible for our audit opinion.
We communicate with those charged with governance regardlng, among other matters, the planned
scope and liming of the audit and significant audit finding5. 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 members, as a body, in accordance with Chapter 3 of Part 16
of the Companles Act 2006 and in respect of the consolidated financial slalemenls, lo the charity's
Irustees as 8 body. in accordance with section 144 of the Charities Act 2011 and r8gulalions made
under section 1S4 of that Act. Our audit work has been undertaken so that we mlghl slate lo the ¢harily's
members those mallers we are required lo slate lo them in an auditor's raport and for no olher purpose.
To the fullest exlenl permille(J by law, we do not accept or assume regponsibility lo anyone other than
the ¢harily and the charity's members as a body, for our audll work, for this report, or for the opinion5
we have formed.
ANDREW THROSSELL FCA {Senlor Sl8tulory Audilorl
For and on behalf of
Hebblelhwaites
Chartered Accounl8nts and Statutory Auditors
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
3 February 2023
20

Good Things Foundation
Company Limited by Guarantee
Consolidated Statement of Financial Activities
(including income and expenditure account
Period from 1 August 2021 to 30 June 2022
Perlod from
1Aug21to
30Jun 22
Year lo 31
Jul 2021
Unrestricted
funds
Reslricled
funds Total funds
Total funds
Not•
Income and endowments
Investment income
Other income - charitable activities
11.192
2,152.948
11,192
7.876
,878,588 18.128.276
,889,780 18,136.152
6.725.640
Total Income
2.164.140
6.725,640
Expendlture
Other expenditure- charitable activiti88
Total expendlturn
1,535,486
8,143,202
9,678,688 17.730,859
,678,688 17.730,859
1,535,486
8.143.202
Net Incornel(expendlturel and net
movement In funds
628,654 11,417,562) (788,9081
405,293
Reconclllatlon of funds
Total funds brought forward
Total fund8 carrl•d loN•rd
2,285,676
2,914,530
2,108,412
4,394,288
690.850 3,605,380
3.988,99S
4,394,288
The statement of financial activities includes all galng and losses re¢ognlsed In the pedod.
AJI income and expenditure derives from continuing activitie8.
The notej on pag•s 25 to 34 fomi part of th•s• financial stat8rn•ni#.
21

Good Things Foundation
Company Limited by Guarantee
Consolidated Statement of Flnanclal Positlon
30 June 2022
30 Jun 22
31 Jul 21
Flxed assets
Intsngible assets
13
173,187
57,212
Current assets
Debtors
Cash al bank and in hand
16
184,691
J,802,704
207,944
7,110,595
3,987.395
7,318,539
Cr•dltor8: 8mount8 f8lllng du• wlthln on• y•ar
Net current assets
17
555,202
2,981,463
3,432.193
4,337,076
Total asset8 le81 current Ilabllltlos
3,605,380
3,605.380
4,394,288
4,394.288
Net a8set8
Funds of the charlty
Reslricled funds
Unreslricled fund8
690,850
2,914,530
18 3,605,380
2.108.412
2,285,876
4,394.288
Total charlty funds
These firnancial statements were approved by the board of trustees and aulhorised for issue on
. l#lbnd are signed on behalf of the board by..
H L Milner
Trustee
liams
Trustee
Company Tegislralion number.. 05887661
Tho notej on paggB 25 to 34 fomi part of the￿ financlal Statements.
22

Good Things Foundation
Company Limited by Guarantee
Company Statement of Financial Position
30 June 2022
30 Jun 22
31 Jul 21
Not•
Flxed •ssets
Intangible assets
13
173.187
57,212
Current #isets
Debtors
Cash al bank and in hand
16
483,431
2,897,853
3,381,284
480.922
5,048,015
5,528.937
Credltors: amount• falllng due wlthln ona year
Net current assets
17
86,301
3,294,983
3,468,170
3,468,170
1,386,480
4,142,457
4,199,669
4,199,669
Total assets leg8 curr•nt Ilabllltle8
C*pStal #nd reserve*
Reslricled funds
Unre8tricted funds
690,850
2,777,320
3,468,170
2.108,412
2.091,257
Totsl charlty funds
4.199,669
The nel expenditure for the financial perlod of Ihg parent company was £731,49912021.' £340,620 net
income).
These fln8ncl81 $1818monls were 8pproved by Ihe board of trustees and aulhorised for l$sue on
t.￿.*.*.2023..., and are Signed on behalf ol the board by:
QI
H L Milner
Trustee
lams
Trustee
Company regislr8ts.on number.. 05887661
The noto8 on pages 25 to 34 lorni part of th•so flnanelal 8tat•mèni8.
23

Good Things Foundation
Company Limited by Guarantee
Consolidated Statement of Cash Flows
Period from 1 August 2021 to 30 June 2022
Perlod from
1Aug21to
30 Jun 22
Ycarlo 31
Jul 21
Cash flows from operatlng actlvltles
Net lexpenditurellincome for the financial period
{788,9081
405,293
Adjustm8nts for..
Amortisalion of intangible assets
Other inler8sI reeeivable and similar income
Accrued expenses and deferred in¢ome
50.105
3.708
111,1921
17,8761
11,122.9281 1249,8101
Changes in..
Trade and other debtors
Trade and other creditors
158,1881
560.361
1121,892) 1143.5311
{2,053,003)
568.145
Cash generated from operations
Interest received
Tax pald
Nel cash {used inllfrom opgr81ing activities
11,192
7.876
{2,041,8111
576,021
Cash flowi from Investlng actlYStlo•
Purchase of Intangible assets
{166.0801
160,9201
Nel cash used in Investing activities
{166,0801
160,9201
C••h flow• from flnanelng •ctlvltles
IR•p8ymentsllproceeds from borrowings
11,100,000)
1,100,000
Net cash (used inllfrom financing activities
11,100,000)
1.100,000
Net Idecreaseylncrease In caBh and cash •qulvalents
Cash and cash equlvalentj at beglnning of perlod
Cash and cash equlvalonts at and of perlod
13.307,8911
7,110,595
3.802,704
1,615,101
5,495,494
7.110.595
Th• noto8 on Pa9￿ 25 to 34 fomi part ol th•sè financial 5t3t•rn•nts.
24

Good Things Foundation
Company Limited by Guaranto0
Notes to the Financial Ststements
Period from 1 August 2021 to 30 June 2022
Genoral Informatlon
The charity is a public ben8fil enlrty and a private company limited by guarantee. registered in
England and Wales and a registered charity in England and W81es. The address of the registgred
office is Floor 3, Kollider, Castle House, Castle Street, Sheffi'eld, S3 8LN.
Slatement of compllance
These financial statements have been prepared In compliance with FRS 102. 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, Ihe Statement of
Recommended Practice applicab18 to charities preparing their accounts in accordance with tha
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities
SORP IFRS 102)) and th8 Companies Act 2QO6.
Accountlng pollcle¥
Bas1¥ of pr•paratlon
The financial slalemenls hav8 been prepared on tha historical cost bayis and are prepared in
sledlng, which is the functional currency of the entity.
Golng concem
The financial statements hav6 been prepared on a golng concern basis. The funding of the
organisalion is gener811y agreed Annually for the year lo 30 June. Funding has been agreed In
principal for the following ye8r and the charity has Bdequale reserves. The Iruslees consider that
there is no m81erl81 uncert81nty about the tharily's ability to continue, hence they are Confident that
the going Concem basis is appropriate.
Con3olldatlon
The financial statements consolidate the financi81 gt8temenls of Good Things Foundatlon and all
its sub51diary undertakings.
The parent company has applied the exemptlon cont81ned in seelion 408 of the Companies Act
2006 and has not presented ils individual profit and loss account.
Judgèmènt8 and kèy soureés of estimatlon uncortalnty
The preparÉtlon of the financial slalemenls requires management lo make judgemanls, eslimales
and assumptions that affect the amounts reported. Thes& estimates and judgements are
continually reviewed 8nd are based on experience and other factors, including expectations of
future events that are believed lo be re88on8ble under the circumstances.
In the opinion of the management and Iruslees, there are no judgements or key sources of
estimation uncert8lnty that Mave a significant impact on the financial slalemenls. other than those
highlighted below.
Incorne tax
The charity is ex8mpl from lax on income and gains. falling wlthin part 11 of the Corporation Tax
Act 2010 or section 256 of Ihe Taxation of Charyeable Gains Act 1992, to the exlenl that these are
applied lo ils charitable objects. No tax charges have arisen in the period.
25

Good Things Foundation
Company Limited by Guarantse
Notes to the Financial Statements (conlthued)
Perlod from 1 August 2021 to 30 June 2022
Accountlng pollcles fcontinU8d)
Fund accountlng
Unreslricled funds are 8vailable for use 8t the discretion of the trustees to further any of the
charity's purposes.
Restricted funds 8re subjected to ￿8t￿ClI0nS on their expènditure deCla￿d by the donor or through
the terms of an appeal, and fall Into one of Iwo sub-classes.. restricted income funds or endowment
fund5. There were no endowment funds during the period.
In¢omSng resourGe$
All income Is included in the slatement of financial activities when entitlement has passed lo the
charity, il is probable that the economic benefits as50cialed with the transaction will flow lo the
ch8rily and the amount can be reliably measured. The following specific policies are applied lo
particular categories of income..
Income from donations or grants is fftcognlsed when there is evldence of enlltlement to
the gift, receipl Is probable, and Ils amount can be measured reliably.
income from contracts for the supply of services is recognised with the delivery of the
¢ontocled service. This is classified as unreslricled funds unless Ihere is a conlraclual
requirement for il lo be spent on a particular purpose 8nd relurnad if unspent, in which
case il may be regarded as restricted.
In the Australian subsidiary certain grants receivable are subject to specified future conditions such
that the grants are not r8cognised until there is reasonable assurance that the company will comply
with the conditions. Where grants are received prior lo galisfying the revenue recognllion cdlerl8,
they are included as a creditor for deferred ineome.
Resource8 expended
Expenditure is recognlsed on an aceruBls b8SiS as a liability is incurred. Expenditure Includes any
VAT which cannot be fully recovered because of partial exernpllon, and is classifled under
headlngs of the slalemenl of financial activities lo which il relates..
expenditure on charitsble acllvities includes all costs Incurred by a eharlty Sn undertaking
activities that further Ils chanl8ble aims for the benefit ol its beneficiaries, including those
support costs and costs relallng lo the governance of the ¢h8rfty apportioned lo charllable
activities.
grants payable are provided to community organisalions and centres lo deliver grass roots
activities. These activities ar8 key elements of the contracts with funders and corporate
partners, and include basic digital skills support, English language learning and other
8es8ion8.
All costs 8re allocated lo expenditure categories reflecting the use of the resource. Direct costs
attributable to 8 single activity are allocated directly lo that activity. Shared Costs are apportioned
between the activities they Contribute lo on a reasonable. justifiable, and consisleni basis.
Oporating1oa5e5
Lease payments are recognised as an expense over the le8se term on 8 slraight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction lo expense over the lease term.
on a slraighl-line basis.
26

Good Things Foundation
Company Limited by Guarantee
Notes to the Financlal Statements (contim￿lI
Period from 1 August 2021 to 30 June 2022
Accountlng pollcles fcontlnu•d)
Intangible assets
Intangible assets are init1811y recorded at cost and are subsequently slated al cost less any
accumulated amortisalion and impairment losses.
The policy for capitalising developmént expenditure is specific and capitalisation only occurs when
certain criteria are mel, ineluding Ihal..
the intangible asset developed is technlcally feasible, will be avallable for use. and its use
will generate future economic benefits
there are adequate technical. financlal. and other resources available lo complete the
development
the expenditure specific to the intangible asset during ils development can be measured
rellably
Expenditure that does not meet the above criteria is expensed as Incurred.
Amortl$atlon
Amortisalion18 calculated so as lo write off the cost of an a55el, le8811s esllm8led r851dual value,
Over the u8eful life of that 88set as follows..
Development c0818
33¥0 slralghl Ilne
If there is an indlcatlon that there has bean a $ignlfic8nl change in amortlsalion rate, useful life or
residual value of an intangible a$sel, the amortisalion is revised prospectively lo reffiecl the new
esllmale5.
ImpaSrrnent of flxed assets
A review for indic81ors of impainment is carrfed out al each reporting dale, with the recoverable
amount being estimated wheTe such indicators exist. Whore the carying value exceeds the
recoverable amount, Ihe asset 18 impaired accordingly.
Flnanclal Instrumènts
Financial instruments are classified and accounted for, according lo th8 gubst8nc6 of the
conlraclu81 arrangement. as either financial assets, financial liabilities. or equity instrument5. Any
equity instrument is any contract that evidences a residual interest in tha assets of the company
after deducting all of ils liabilities.
88sic financial instruments are initially recognSsed at the amount receivable or payable including
any related transaction costs. Current assets and turrenl liabilities are subsequently measured 81
the cash or other conslderalion expected lo be paid or received and are not discounted. Financial
assets that are measured at COSI or amortised cost are reviewed for objective evidence of
impalmienl at the end of each reporting d81e.
The exposure to price risk, credit risk, liquidity dsk and cash flow risk is not considered material for
the assessment of the assets. liabilities, financial position and incom8 or expenditure of the charSty-
Forelgn currencles
Foreign currency transactions. monetary assets and liabilitie5 denominated in fO￿Ign currencies
are translated at the exchange rale njling al the reporting date, with any gains or losses being
taken to the statement of financial aclivilies.
27

Good Things Foundation
Company Limitad by Guarantee
Notes to the Flnanclal Statements (contlnved)
Period from 1 August 2021 to 30 June 2022
Llmlted by guarantee
The company is a private company lirniled by guarantee and consequently does not have share
capital. Each of the members is liable lo contribute an amount not exc88ding £1 towards the assets
of the company in the event of liquidation.
Inve•tm¢nt Incomo
Total Funds
Perlod from
Unreslricled 1 Aug 21 to Unrestricted
Funds
30 Jun 22
Funds
Total Funds
Year lo
31 Jul 21
Bank interest receivable
11,192
11,192
7,876
7,876
Other Income- charitable actlvltl?8
Total Fund•
P•rlod from
Reslricled 1 Aug 21 to
Fundg
30 Jun 22
Unrestricted
Funds
Government grants
Other grants
Other project income
Grants and contracts - Australia
193,892
2,199.744
6,662
1.625,957
2,893,277
2,393,636
6.662
3,378.689
3,099,601
1,752,732
206,324
2,152,948
6,725,640
8.878,588
Totsl Funds
Year lo
31 Jul 21
Unreslricled
Fund8
Reslricled
Funds
Government oranls
Other grants
Other project income
Grants and contracts - Australia
5,118,129
4.855.853
9.973,982
139.320
139,320
1,138.374 2,738,201
3,876,575
347,644 3,790,755
4,138,399
6,604,147 11,524,129 18,128,276
28

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements fcontlnuffd)
Pariod from 1 August 2021 to 30 June 2022
other expendlture- charltable actlvltles
Total Funds
Perlod from
Reslricled 1 Aug 21 to
Funés
30 Jun 22
Unrestn'cted
Funds
Grants payable
Staff and HR costs
Network and development costs
E51ablishrnent costs
Motor and travel costs
Office and other administration expenses
248.835
873,913
201,099
83.078
11.169
117.392
5,077,344
2,480,743
519,909
31,087
1,578
32,541
,143,202
5.326,179
3.354,656
721,008
114,165
12,747
149,933
1,535,486
9,678,688
Total Funds
Year lo
31 Jul 21
Unreslricled
Funds
R851ricted
Funds
Grants payable
Staff and HR costs
Network and development Gosts
Establishment costs
AAolor and travel costs
Offica and olher adminislralion 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
1,117,008
1,761.820
69,668
175.617
12,516
17,743
56.000
279,923
6.156,699 11,574,160 17,730,859
Offlce and other administration expenses include the following governance costs..
Perlod from
1Aug21to
30 Jun 22
Year lo
31 Jul 21
Audit f88s
Legal 8nd consultancy fees
Costs of Iruslees, meetings
21.158
3.268
17,885
11,888
40
24,426
29,813
Audltor8' remuneratlon
Perlod from
1Aug21to
30 Jun 22
Year to
31 Jul 21
Audit of parent company
Other non-audil seryice9
Audit of subsidiary- Saward Dawson
Other non-audll services- Saward Dawson
12.000
2.335
9.158
12,447
35.940
10.250
2,220
7.635
13.928
34.033
29

Good Things Foundation
Company Limited by Guarantee
Notes to tho Financial Stataments f¢oniinu
Period from 1 August 2021 to 30 June 2022
Nat (expendhurelllncome
Nel lexpendilureyincome is stated after chargingl(crediting}'.
Period from
1Aug21to
30 Jun 22
Year lo
31 Jul 21
Amortlsation of Intangible assets
50,105
3,708
Exchange differences recognised In Ihe accounts durlng the period amounted lo a gain of £27.161
(Year lo 31 July 2021 loss of £9,572).
10. Stsff costs
The total staff costs and employee benefrts for the roporting period are an8lysed as follows..
Perlod from
1Aug21to
30 Jun 22
Year lo
31 Jul 21
Wages and salaries
Soclal security costs
PensSon contributions
2,791,561
342,721
190,046
3,324,328
3,739,635
425,300
264,558
4,429.493
The average head count of employees during the penod was 81 (Year lo 31 July 2021 105).
The number ol employees whose remuneration for the period fell within the following bands, wer8..
Perlod from
1Aug21to
30 Jun 22
No.
Year to 31
Jul 21
No.
£60,000 10 £69,999
£70,000 to £79,999
£90,000 to £99,999
£130,000 10 £139,999
£140,000 to £149,999
Tho amunl attributable lo the highest paid diraclor for the period was remuneration of £136.335
(Year to 31 July 2021 £148,829) and pension contributions of £13,634 (Year lo 31 July 2021
£14,873).
Key Management Personnel
Key management personnel Include all persons that have authority and responsibility for planning,
directing and conlrolllng the activities of the charity. The total compensation paid lo key
m8nagemenl personnel for seNices provided to the charity for the period was £364,650 (Year to
31 July 2021 £384,843)
30

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements {continu•d)
Perlod from 1 August 2021 to 30 June 2022
11. Trustee remuneratlon and expenses
No remuneration is paid lo the trusle8sldirectors for their Se￿ICe8 as Iru$lee$ldireclors. Trustees
travel expenses paid during th8 period amounted to £441 12021 £Nill for 21202101 trustees. As
staff mutual organisalion. Irust88s include staff members. H L Milner, S Mistry, and H J Whelan
from 25 March 2022. Also serving during the period were J C Clark until 20 October 2021, L A
Faulkner from 20 October 2021 until 27 May 2022, ané A Barlow from 25 March 2022 until 26 April
2022. Staff costs and expenses for the period include £219,91512021 £289,705) of remuner81ion.
£21,99112021 £28,930) of pension contributions, with £5612021 £Nill of expenses for 1 1202101
member of staff who is a trusleeldireclor.
The charity has insurance to indemnfy the IN$lees. other officers and the charity agalnsl the
consequences of any neglecl or def8uIt on tho part of the trustees. employees and agents.
12. Net Incomelexpèndltura attrlbut•bl• to member• of the parnnt company ¢harlty
The net expenditure dealt wllh In the financial slalemenls of the parent company charlly wa8
£731,499 12021 net income of £340,620>. This comprises nel ineome on unreslricled funds of
£686,06312021 nel income of £390.6511 and nel expenditure on restrleled funds 01 £1,417,562
12021 nel expenditure of £50,031). Total income during the period amounted lo £5,897,17812021
£14,137,207) and total expendilure £6,628,67712021 £13,796.5871.
13. Intanglble assets
Group Jnd company
Dovelopmont
¢osts
Cost
Al 1 August 2021
Additions
60,920
166,080
At 30 Juna 2022
227,000
Amort154tlon
At 1 August 2021
Charge for the period
At 30 June 2022
3,708
50,105
53,813
Carrylng amount
At 30 June 2022
173,187
57,212
Al 31 July2021
31

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements fcontinuod)
Period from 1 August 2021 to 30 June 2022
15. Investments
Good Things FoundaliDn Limited, a nol-for-profil company limited by guarantee and Incorporated
in Australia, is controlled by Good Things Foundation, which is the sole member. Good Things
Foundation Limited was incorporated on 4 April 2017 and is registered with the Australian Charities
and Nol-for-prolils Commission. The registered office of the company is 223 Liverpool Street,
Darfinghursl, NSW, 2010 and the Australian Business Number IABNI is 92618363974.
The financial slalemenls for Good Things Founéalion Limited, which have been included within
Ihe consolidated financial slalements for Good Things Foundation and translated al the period-
end exchange rate, may be summarised as..
Stat•m8nt of Proflt or Lois and Other Comprehenslve Incom
Perlod from
1Aug2110
30 Jun 22
Year to
31 Jul 21
Revenue
Expenses
{DefiGilysurplus for the perfod
3,100,995
4,138,501
{3,172,395) 14,073,828)
171,400)
64,673
Stat•m•nt of Flnan¢lo1 Po•ltlon
30 Jun 22
31 Jul 21
Curr•nt •8$•t1
Cash and cash equivalents
Trade and other receivables
Prepayments and 8ccrued income
904,852
108,423
6,807
2,062,579
6,759
627
Current Ilabllltle8
Trade and other payables
Intercomp8ny current Bccounl
Unearned income
{177,4051 (218,8551
{413.9691 (280,3641
(291.498) 11.376,1271
137,210
194.619
Nel Asselg
16. Debtorn
Group
31 Jul 21
Company
30 Jun 22
31 Jul 21
30 Jun 22
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
VATIGST éeblors
Other debtors
88,047
23.581
13,260
413,969
54.543
23,581
280,364
142,163
61,349
28,745
6,550
142,790
41,573
1,659
483,431
34,814
480.922
184,691
207,944
Amounts owed by group undertakings are interegt free with no fixed repayment terms.
32

Good Things Foundation
Company Limited by Guarantee
Notes to the Financlal Statements fconÉthued)
Period from 1 August 2021 to 30 June 2022
17. Credltors: amounts falllng due wlthln one year
Group
30 Jun 22
Company
30 Jun 22
31 Jul 21
31 Jul 21
Bank loans and overdrafts
Trade creditors
Accru81s and deferred income
Deferred income - Australia
VATIGST creditors
Pension conlributsons payable
Other creditors
1,100,000
88,146
226,938
1,376,127
151,757
38,217
278
1,100.000
81.713
120,459
83,966
107,198
291,498
33.746
38,055
739
49,053
19,271
17,238
52,035
31,995
278
739
555,202
2.981,463
86,301
1,386,480
Included within creditors falling due within one year are loans and financlng arr8ngemenl$ In the
sum of £Nil12021 £1,100,000) that are secured agalnsl the assets of the company.
18. AnalyB18 of charltable fvnds
Unre•lrlcted fund8
Al
1 August 2021
At
Income Expenditure 30 June 2022
General funds
2,285,876
2,164.140 11,535,486) 2.914.530
R••trlcted fvnds
At
1 August 2021
At
Income Expenditure 30 June 2022
Restricted Funds
2.108.412
6,725,640 18,143,202)
690,850
Re$lriclgd funds at the balance sheet dale reflect the fundlng profiles of major projects and are not
actual surpluses carri8d forward. The company period•end falls in the middle of funding periods for
major projects, hence these amounts are proflled lo be spent in line with the funding arrangements
which go beyond the period end.
19. Analysls of n•t assets betw•en funds
Unreslricled
Funds
Restricted Total Fund3 Total Funds
Funds
30 Jun 22
31 Jul 21
Intangible assets
Current assets
Creditors less than 1 year
Net asset5
173.187
3,033,375
954,020
{292,0321 1263,1701
2,914,530
690,850
173.187
57,212
3,987,395
7,318,539
1555,202) 12.981,4631
3,605,380
4,394,288
33

Good Things Foundation
Company Limited by Guarantee
Notes to the Financial Statements (￿￿￿￿￿1￿)
Period from 1 August 2021 to 30 Jun• 2022
20. Analys18 of changes In net debl
At 1 Aug 21 Cash flows At 30 Jun 21
Cash at bank and in hand
Debt due wthin one year
7.110,595 13,307,891) 3,802,704
11,100,000)
1,100,000
6,010,595 (2,207.891) 3.802,704
21. Operatlng l¢•*• ¢ommltm•nts
The total future minimum lease payments under nOn￿ancelIable operaling18ases are 88 lollows..
Group
30 Jun 22
Company
30 Jun 22
31 Jul 21
31 Jul 21
Not later than 1 year
41,924
41,924
45,986
45,986
9,800
9,800
Lgase payments recognised ag an expense during the period amounted lo £74,570 (Yèar lo 31
July 2021 £116,602).
22. Related p•rtl•8
There have been no related party tr8n88Ctions during the reporting period, except Iran8action$ with
the Good Things Foundatlon Limited, Australia. The financial ststements do not Include disclosures
of all Irans8clion$ between the subsidiary and ils parent as the $ubsidiary'$ activit￿8 are 1 OOVO
controlled by Good Things Foundation.
34

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