COMPANY REGISTRATION NUMBER: 0S887661 CHARtrY REGISTrATION NUM8ER: 1165209 Good Thlngs Foundation Company Limited by Guarantee Consolidated Financial Statements 30 June 2023 *AcHcp 07102r2024 IJ)MPANIES HOUSE A10 Good Things Foundation Company Limited by Guarantee Financial Statements Year ended 30 June 2023 Pages 1to15 Trustees. annual report (incorporating the directors. report) Independent auditorfs report to the members 16to20 Consolidated statement of financial activities (induding income and expenditure account) 21 Consolidated statement of financial position 22 Company ststement of financial position 23 Consolidated statement of cash flows 24 Notes to the finanaal statements 25to34 Good Things Foundation Company Limitéd by Guarantee Trust¢¢s' Annual Report (Incorporating tho Directors, Report) Year èndèd 30 Junè 2023 The Iruslees. who are also the directors for the purpose$ of company law. present their rgport and Ihe financial stsltmÈnts of the ¢hanty lor the year ended 30 June 2023. Releren¢e ¥nd •dmini$ts¥tlve det#il$ R*glstered charity nan Charity regbtratlon numb•r 116S2C Company regi$trnti¢n number 05887e61 Principal office and registered Spaces- Acero office 1 Con¢wrse Way Digital CampLFS Sheff*ld S12BJ The trustees H L Milner E A Williams RAGClare CPBond N A Wallace Dean N Khan H J WheLan D Bemard J Hawker L O Branch VAI T S Hillsdon WJ Pefrin S Misty Chwf Exewtive Chair (Appoinleil 23 January 2023) IAppointed 23 January 2023) IApw)inted 23 January 2023) {Appoinled 23 January 20231 {Appointe(123 January 20231 {Resigned 1 February 20231 {Resigned 24 November 2022) Company secretsry A Bars Audltor Hebbleltrwaites Chartered accountsnts & statLrtory ￿ditorS 2 Weslbrc¥)k Court Sharrow va￿ Road Sheffield S11 8YZ Bankers The tsoperalNe Bank p Virgin Money pk Cambridge & C¢yJnties Bank Limiled Soll¢itOTS Stone Kuig LLP Good Things Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrèctors. Rèport} (¢Wtinue Year ended 30 June 2023 Good Things Foundation ts a leading digital in¢lustJn tharity, workiro in Ihe UK, Austral¢a ond beyond. We wanl to fix the digital divide- fci good. We w(xk. in pathe[sh￿). in uiies. lowns. and communilios to help people thrive in a digit￿ wortd. Change of year end These finanaal stalement$ orefrrflhe yeareThled 30 June ￿23. Thty iepresenlwrfirst set Of￿0unts made up for a 12 mot)th per￿ ending 30 June. foNwng a change of financaal year end from 31 Juty to 30 June during the prtor year. Therefore Ihe comparative fuures stated in the stalemenl of financial activi(ies, statement of financial posiiion. statement of cash fflows. and the related notes are not diredly comparable. with the previoLKS finanoal ststements covering the 11 ffK)nths from 1 August 2021 10 30 June 2022. Our Aims and Objecti￿$ Purpo$e$ and Alms Our Charity's purposes as set out ￿ the objects contained in the compan￿$ Artdes of Association are for public Èenefit and 8re: To develop the capacty and sws ofthe members ofthe socialty and ec¢wnic8lly disadvantsged community in such a way that they are better able to identfy and to help meet their Meds and to participate MO￿ lulty n Ktiely., To advance edu¢atK*n of the wblic in dvJrtal S￿1$ and in infonnation technology: To promote s￿ra1 indusion among thosewho areexcluded fr￿ society and who k¢k either access lo online services or ne¢essary skills in in1LYmat￿Jn le¢hnob9y or ￿￿tal $ktlls'. and To advance ciiizertship by developing the infonnation technol¢)gy skills ol the public so that they are better atAe to part¢ipate in socw as adive ￿sp￿1b* rjlizens. Ensurfng our work dellvenb our alms We review our aims. obfre¢tNes. and arivities eath year. This rewew looks at what we have achiewj in Ihe last 12 monlhs. an¢J the benefits this a¢tivty has driven for trrt)th people and communities. This rewew also helps us lo ensure our aims. obieclNe5 and aclmlies remain fo¢ysed on our Staled purposes. We have referred to the guidance contained in the Charity Commiss*)n's general guidanc on ptjblic benefit when rewewing our and obj-ectives and in planning our future activitie5. In parti'cular. the trustees consKler how planned a*vilies wll rJ)nthtMrte to the awns arnj obJ"ecttVgS they have set. Our visi(￿ is a wortd where everyone benefits from digital. We want people to be digit81ty able, equal and safe. so they Can be happier. heathier and better off. ￿lISt thi8 wsion and purpose is the san across Ihe UK, Australia and gkjbalty. theo are some drffewLce3 in how we a¢h*ve and the strategy we are pursuing in each lerritory. Good Things Foundation Company Limited by Guarantse Trusteos. Annual Report Ilncorporatlng the Dlrectows, Report) {withu•dJ Year ended 30 Jun• 2023 Our Strntsgy in the UK The inlemel is an essential Irfell￿, yet millions of people in th& UK are digilalty exduded. 1 in 20 UK households has no home intemel (Ofcom, Adufts Media Us8 andAtlit(ftYes 20221. 8 million households ale hawro difficulty affording communication servK*s (Olcom, CofftmunKations Affordability Trdck8r 2023) and 5.8 million peop18 remain digrtalty ex¢luded al Ihe end of 2032 if no action is taken lo improve their digital skills {Cebr. rts Econonwc Impactof Digit81 IncluS￿n in the UK 2022). Our UK Slialegy has a stngular miss*Jn which is lo"Fix Ihe Digital Diwde in the UK- For Good.. When we launched the slfalegy in A￿1 2022, the county was in a period of Change and the d￿ts1 div*de was deepening. We were trmjoyed by the energy and ingenuty that Good Thin95 had brou9ht to our ernergency responses to deliver susiainable chan99 on the dwiial ¢JNtde. We'd learned a k)1 and Ihis str*e9y embedded that kn(Mledge. luming il into the deh'very ol mobl connectivity data and devices alongside basic digital skiNs- all in partnership with the incr¢dibJg National Digf(al Indusion Netsvork ofthousands of ¢M)munty or9anisations. By the end of W25. our ambition is to: Engage 1 million peo awss the UK. helpin9 them benefft from the dKJitslworld", aThJ Growand support 5.OLX) actNe dwJitsl indusK)n hubs. across the nation to respond to local needs (this 1$ lh• Nats'onal Digilal Neb¥¢Yk>. We have Ihree strategic prinaples that underpin our str*egy. Tl*se principles explain the core pwpose .of our organisation and how we operate.. Everyone lo have the internet access they nee(I: Everyone lo have somffivhere thal lo go ft)r help to use the inlemet., and Éveryone to feel able and safe in the onlne worfd. To a¢hieve our rnission. we have develoFed a new sotyal infraslTUCturewhich provides a ¢omprehensNe serV￿e for digitally excluded people. An offer wth¢ch any local organisation - an￿ere in the UK- can use lo Fix Ihe Th'gÈtal DivKle in their conwnunities, ￿MprisEn9 of". The Nalional Dats Bank"a f￿)d bank. but for mobile conne¢lNity dala". believed to be the first of it5 kind globaty. 11 exists lo ensure those expw*rKirwJ dats povety can stay conneclgd with data donated by 02. Vodafone and Three., The Nat*)nal Device Bank. a sustainatjbe ap[￿oath to Provide free xces5 to ￿lUrb1shed dvJital devi￿. for th)se who cannot aflwd to bLry their ￿￿￿.. and The National Digital Inclusfvjn Ne￿0￿. A netW￿k which ￿ plan to gr￿ to 5,000 d@ital Inclusion hubs. wherg people can go to gain dwjital sknms and access the National Data and Device Banks. The yearjusl e￿Jed. {30 June 20231. rewesents the ffir5tful delivery year of our UK strategy. OveTthe8e past 12 monihs we have made signthcant strides in 'Fixing the Digiial DNKle for Good" and believe we have developeil a scaled and proven solub.on to help us rexh our goaLs. Good Things Foundation Company Limlted by Guarantee Trusteos, Annual Report (Incorporating the Directors. Rèport) (Cl￿￿￿￿¢ Year ended 30 June 2023 Ourstrategy In Au$tralla In Australia our purp)se is lo enswe ￿1 peo￿ in Austraka are digitalty capable. safe and have equal opportunty to benefft from the digital worfd. Our strategy fc￿Se$ ￿ develc¢)ing partnershps with organisalK)ns in thousands ol communities a¢>oss Australia to deliver bcalty-dTiven programs with national impact ￿ do this trrf.. Designing speualise(l o)mmurrity4ed digrtal Midusk?n programs.. Training digital mentors aThJ building capa¢ity in ￿1mMUnty organisations: Providing resources. grants and program delNery $upportr, and Raisirvj ￿a￿nesS ano advocaling for those who are th9itaty exthjded Our tjigital inclusion program$ are built on a community-based model. with targeted digttal skills Support delNered kjcally by trusted communty organisatK)ns, a auoss Australia which ncm numbers nearty 4,CQO. Good Things Australia's initialives are des¥Jned to reath those most al risk of being left beh￿d in the online wothj indLKling women. carers and fcw income families. people ¥￿th low English literacy, refvgees and mvJrants, First Nations pg)pJe. people wilh Chron￿ health conditions and peO￿e with disabilty. Our ¢￿￿nt programs irK4ude'. Be Connecled.. Our national ne￿Ork communrty organisations delNer the highty SUCLessful Be Connected d￿rtaI skill$ yogram f¢Y Australians aged over SO. vthich has engaged over 2.2 million people in the six years it has been running. W& upskn'll DKJrtal Mentors, manage the muMi- million dollar granis prO￿aM and support seniors lo find help near them. The program has recen1￿ bwi refund f(x another 4 year$. through lo 2028." Get Onfme Week: We runAustTalia's krgest dtqital in￿5￿)N campavJn. Get onli￿ Week. Every year in Oclober. hundred$ of community organisat*)ns nationwhle h)st d*Jital skills events lo SUPPLN1 Austral'ans to feel m￿e confident and capa￿e online.. Your Heanh In Your Hands.. We are ddivering a tligital heatth Iteracy PTQgram in partnership with the Australian Digrtal Hèatth Agency to inueas& people's skli Is arKI conffidence using online health and wellbeing seNKes.' and Brxjging the digital divh* ythjng peor4e with inielle¢tual disalMIty= We are partnering with Down Syndrcrfne Australia to ciTrdesvJn digital S￿lIS reswr¢es wfth and for young people with ¥itellectual disability and ￿1r suFport ne￿Orks. Our Strdtegy Globally Whilst our core fO￿S is helping people in the UK and Australia. we continue to evaluate cpportunilie5 in other ￿untrieS where we can use our $k￿lS and experience to conln'bute to di9it3J equalrty across the wodd. We are working direclty with NGOS in Romania and Polan¢J to supp)rt their missions to fix the digital divide by working wÈlh bxal community organisalions and nalitsnal partner5,' we have made a version of Leam My Way availabbe to them for Ictal translation and contex￿#115811{)n. Google.org supported ¢yJr work in Romania and Pobrn1. 8$ well a5 helping us lo d¢vekJp a 'dTrgitsl I￿lUsion in a bo￿ set of assets in a repository tor use by inlemalKJnal partners. Good Things Foundation Company Limited by Guarantee Trustses. Annual Report Ilncorporating the Dlrectors. Roport) Year ended 30 June 2023 Achievements and Perfomiance How our activlties deiaver publle bènefft Al of Good Things Foundat*)n'5 ¢haritable ac11￿lIeS foojs on helping peoplg lo be happ*r. healthier and betteroff by b￿ng d￿rtaIlY atle, equal and safe. Our main activit*s aThJ the peOe we have helped are described tse1￿￿. IntheUK For modem Britain. being capable- accessing dats, de¥ices, and having dvJital Skills. molivation, and confKlence- is of indisputable irnpLNtsnc¢. Thgse pilLars of ¢Jigrtal (Inlequality remain atrjle across the nation: On connectNily- over 1 in 20 households have no inlemel access. neilherfixed line nor mobile (Ofcom s Adult5. Medi8 Use and Attitudes Report. 2022). Ofcom also repwted Ihal 8 mil1h￿ households are experien¢¥ng difficulty affording communication service& incjuding intemel access (AffonlabKity ol Communications Serwce5. 2023). Device afforda￿lty remains a barrier. with 5% of the UK popU￿￿)n havfflg no devices al home that enable them lo access the internel (Ofcom Tethnology Tracker20221 and 43°A ofthe population retying on a device such as a mobile, tablet. or lapiop that isn't their thvn in order to acL05S the intemet IPubKc Firnljoolbng data for Good Things Foundoith, May 2023). Finaly. thgital Indus￿ and skills refnains a of great magnTtude. 10.2 millkn UK adults do not have loundation-level skills {Lloyds' UK Consumor ￿g1[al Index. 2022) and 5.8 million people w¢ll still be digilally exduded in 2032 without action {C¢br. The 8conomK impact ofD&iilal exclusion, 20221. The communty secior - of which our National DKJrtal Irdusion Network is rooted - provmles an infomal leaming environment ripe for people fac*￿ these barriers. yel often goes u￿1¥fUnded. We have continued to work hard to increase awareness ol digital I￿usI)n and get it on the national agenda. Our advocacy and influencing work ramped uplhis year am1 in 2023we were ablè to showcase the work of digital inclusion hubs and share our ideas of solulions to fu the dNJilal diwde, lo the House of Lord5 Comrnunicatsons and D￿rtaI Committee tor thew report exploring dMJital exdusion atKI cosl ol liwng crisi5. W? understand the scakn and of equy*irwJ peopk wNh the right tods lo hve aTrJ in the digital world. as do crtjr strateg￿ Partners.. Virgin Media 02. Vtyjafone, and Nw)inel who are wothing with u510 helpfM the digital divide. Our partners support ourstralegy to engage 1 millh)n people, working in partnershipwilh S.￿0 awJital indLLsion hubs lo provwje peoplewrth a￿$$ to daia. dewces and digital skills. All of this is reflecled ￿ our operational achi8vemenis atMI performance over the pasl financAal year. outlin8d lurther beltyW. UK Nallonal Dlgltsl In¢luslon Nolwork Mode up of thw$and$ of commwity partners. t￿ N*K)nal DNJital I￿y$lOn Nehvth hubs are all workiThJ lo lack￿ dig.rtal exdusion. We have dernonstrated that a mL%Jel of Ic¢al, crmnmunity-based support is effective for in¢reasing digital inclusion. During the year we have successfulty grown the ne￿Ork with 1,289 new digital inclusion hubs being recwited since April 2022 taknng the total number of hubs in the National Digtsl Induwon to 3.277 al 30 2023. Good Things Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Direetors. Reportl {eontht Year ended 30 June 2023 UK NalS(bnal Dlgltsl In¢luslon Network Icontinued) Being part ol Ihe Nation41 DvJital IndusKin Nthork has a positive impa¢a for hubs and their abilrty lo support digital inclusion. with 80% agreeing it helps them support a wider range of people struggling to access or use the Inlemet and support more peop￿ to buikl their digrtal S￿11$ and cOnf￿enCe in our most recent Digital Inclus*)n Nelwork Survey (May 2023). W8 have helped the NatM?nal Digital Indusion Ne￿ork bull d ca￿ty and ¢apabilty to provKle dKJital indusion support. This induded distributingjuslunder£2 million in grants lothe Nation81 Digrtal Indusion Ne￿Ork, thanks to our funders". Google.org. HMRC. JPMorg8n Chase Foundation, Lon&)n Office ol Technology and InI￿Vat￿)n. Yorkshire Buikling Society and our strateg￿ Partners. 91% of hubs agreed that DKJitsl Inclusion Capability Grant they re¢ewed from Good Things Foun(Jalion had helped them lo ￿h*ve better out¢tynes for peopte struggling to ac¢e$s or use the intemet (Good Things Foundotion. Di￿1￿1 In¢lu$lc￿ Capabilify Gr4nt Round 2 Evaluoti¢M July 2023). UK Natlonal Databank The National Databank was launched in July 2021 by Good Thin9s FoundatKJn and Virgin Media 02 and is now also supported by Vcmlafone and Three. The first ¢ros$-se¢ior ¢olLaborabon of ts kind in the world. Ihe Nattonal Databank prowdes free SIMS and mobile data {as well as talk minutes and texts) to people eXper￿nCi￿j dats povety and vulnefable people in ￿ed, which a￿ distributed through growing netwo￿ of more thon 1.2CQ (30 June 2023) NatK)n￿ Dats Hubs auoss the UK. We have seen an inueasing demand fcrf free dala and in the Per1￿j since the laun(41 of our strategy in April 2022 arbd the end of the financ￿1 year {30 June 20231, we have dislributed 181,798 free SIM cards from 02. Vodafone and Th￿e lo peo￿$ Struggkng ts a¢cess Il* ￿teme1. In the last yèar thè Nalb)rtal Databank has won the Positive Impact Award for Teehnukjgy at the New Statesman Awards and the Best Community InitialNe Award at the Corpcornms Awards as well as receiwng several n(¥ninatK*n$. UK N4tlonal D•vlc• 8ank This year Gctsj Things Foundation laUnd￿d the National Device Bank V*ith leading systainab ele¢rroni¢ relurbishing company Reconome- 7Mwng and refurbi%hiry c£wirale lechnc4ogy to donate lo those who are Unab￿ to afford a device. As al 30 June 2023 ow 16,CO) had teen dwated to Good ThirrfJ5 Foundalion for refurbishment. 4,429 have been given to 267 hubs to distribule lo peop￿ in their (xynmunty. with more on Ihe way. Oonations lo Ihe National Device Bank don't jusl benèfii people, but the planel too, with the donations during th8 year saving 3.054.425 Kg ol C02e emissions and over 29,000 kg of e-waste. The National Device Bank has ￿¢¢Ned d(Thtion$ from bJsinesses. Wb1￿ organisations and kncal aulh(Kilies, including Micr050ft. London Borough of RedbrÉdge. HSBC. the Metrop)ltt* Pol￿. Weslern Pcwer DIstribul￿n. Ocasjo Group. Detoitte and Whth? Good Things Foundatlon Company Llmltsd by Guarantse Trustoès. Annual Rèport Ilncorporating the Director8, Report) le￿￿￿Ul0 Year ended 30 June 2023 Diglt41 In¢luslon & Sklll$ Good Things Foundation devekjped Leam My Way, a free plarfoftn for diyrtal learning, providing dNJital skills and increased COnf￿enCe to those supported by Ihe Digital IndusKtn Ne￿ork. Since 2011, more Ihan 1.65 million people have regislered lo use Leam My Way. This includes 79,217 in Ihe period sin¢* the launch ol our strategy in April 2022 and the end of the fthan¢ial year on 30 June 2023 arml the pLgtform has been used by 1.839 digital indushin hubs to help people gain digital skills. In spring 2023 we I￿nd)ed Ihe new and inwroved Le￿ My Way, offering bitesEe ltiF*cs lo help peop to make the rn05t of the online worfd. Subj'ects include.. Usng a dev￿, Starting lo go online. Staying safe and using ernail. Through lo.. Workirq ￿lne. Using social medk3. Managing ￿alth and money online. Our Strat•gic hrtnorn To pursue ￿Jr purpose.. to fix the dvjilal divide- good. we needed Strate9¢ Partners and during Ihe year we were lucky enough lo bring Virgin Media 02 {August 20221. VoJafone (Dernmber 20221 aThJ Nominet {June 20231 alongs*Je u$. ¢0 invest in our stfategy. Our partners suppcrt ow stralegy lo en9age 1 million peop￿, lo work in partnwship with a larger neh¥o of 5.000 digilal inclusion hubs and to provkle people with ￿CesS lo data. dewces and digit31 skills. ￿t onty are our Strategic Partners providing fina￿al ￿Jpp0rt. are W￿Ing with us colabc*atively lo flx the tligital divide. For example during the year. Virgin Media 02 who set up Ihe Naknonal Datsbank with us W in 2Q1. c•l¢brated with us the milestone of hitting 1.IY)O datsbank location$ within the UK.. Vc#Jafone on th¢ Grèat British Teth Appeèl, lo obtain 09￿5 for the National Device Bank.. Nominet SUFPOrted the Data Poverty Lab. whth was f0m￿d to find sustainable solulions lo data poverty. This yearourDats P￿erty Labfdbw$ devdoped Ihree thought-leadership ￿eCeS exploring how we ta* at￿1. solUt￿nS to. dala poverty aThl whether the inlemel is an essential utilrty. other Inlliatlves In the UK We scaled vp Get Online London, dwJital indusion servi¢e actt*r*irKJ a¢lNrties so Ihal we can help more Londoners gel online and reduang d*3rtal exdusKJn in London. wh¢h is run in partnership and funded by the LorNJon Office of Technobgy and Innova￿On {LOTII and the Mayor of London. During the year, Gel Online London distributed more than 44.(KKJ f￿ dats SIMS. and the London Devte Bank, as part of the National Device Bank. proNided ower 2.500 devKes to people throu￿ 678 community organisalions in London. Elsewhere in England, the year we (x)mt4eted our Db?itsl Skills Pathway ylols aimed lo address the challenge of h¢yW lo support Icol communities to l*￿me digttal induded and lo drNe e￿nOMiC recovery. Funded by the UK Gov¢mment'$ Community Renewal Fund. we developed local pathways with the potential for transfomalK)nal llnpa¢l$ in the lives of digita￿ exduded adutts. Over 12 months, 82 comfflunity organ¢sations and 5.347 people were supported auoss three Combined Authonly 8WS, Greater Man¢hester. Wesl MkJLinds and North of Tyne. The prcgr•m delivered a signfficanl improvemenl in peo*'$ thgit* access. skills and confrflence with 94% rewling improvement in their Good Things Foundation Company Limited by Guarantse Trusteès. Annual Report (Incorporating the Dire¢tars' Rèport) Year ended 30 June 2023 Other Inhiatives in the UK (continued) digrtal skills, 924h feh more confident to the inlemet and 87% said they had access lo a suitable device and l or dats lo use Ihe inlemet. Two-Ihird$168%) of people supporied aCh￿ved at least one desired outcome.. 79% reported teing ff4JtNaled to keep on karning, 479h progressed onlo further leaming (including intent*)n lo pyog￿$S), 44% reported better eftWymenl pros*s and 33% applied for a job. We c(J)linued to delNer the Power Up progr￿rne. fund&J by JPMorgan Chase Foundation. which is driving e¢onomic indus*Jn through dKJitJ in coMmun￿e5- powering up people. prow5￿n. and places. Our pathership with Yorkshire Buikfing Swety io boost employabilty thrwgh dwital skins in Bradford entered 11$ 3rd year. a￿1 has now sUpp￿d over ￿ pewe. We remain part of Ihe NHS'S Health & Wellbeing A11kAr￿e and through¢)ut the year we have delivered projects on accessibility guidan¢e and deswJning dKJitsl serNi¢e$. with the need$ of those wtth protected d)aracterisl￿s in mind. and supported many cther VCSE organisations on their own digital projects. We continued lo delNer benefiis adv1ceth￿￿h￿rWtnership with HMRC. delNered aloNJ$ide support for developing basK digital skills. In Wales we continued to wort in partnership with Cwmpas and the Wales Government, 10 grow the National Digital Indusion Nehyork in WaJe$ and to ddiver Leam My Way ￿aMIng ￿ntent in the Welsh language as well as in English. The Welsh Govemment has taken up our colLaboratNe wort on a Minimum DvJital Liwng Slandard and are bokiThJ to implement Ihis as a target for people rl Wales. In Scotland we woth closely with SCVO (the Scotlish Counol for v￿rtIary OnJanisations) and the Scotbsh Govemmenl lo ensure tt￿1 Peop￿ in Scotland can have a¢ces5 to and benefrt from ￿Jr servic￿. In Australla AEthough Auslralta is mole oxnecled than ever tefore. we knTh that many peop18 are stdl being left behind. The latest Australian Doital Indusffi Index and our research shows us that while we are making Signif￿nI steps forwafd, thère is a bt more we can do to help everyone get online safety and ¢onfidentty. That's why. dufing the 2022r23 financial year. we fo¢JJsed on expanding our reach and program$ lo younger and mofe diverse groups. in¢4￿"n9 your¥J peopfe wth intellectual disabilty. migrartl and refugee women, people ￿th chront heallh ¢onditKins. ¢arers and low income families. This buiN on the continued success of Quf Be Connected program for over 50's and the amazing support that our nefvrfoik, which grew lo rhearly 4,OC(I communty partners d￿n9 the year. who provKJe everyday lo people who are mosl al fisk of ¢J￿rtaI exdusion. 11,5 also why we continued lo advocate for the ongI￿n9 support of su¢¢essful, communty.based d¥ilal skill$ programs and practical new initiatwes that tackle abilty. access an¢J affordabilty across all communities and age groups.. a call that has been. in-part. angwered by the recent Australian Govemment announcement thal B& ConWed will ￿ntinue unlil 2028. Good Things Foundation Company Limited by Guarantee Trustees. Annual Report {In¢orporallng the Dlrectors. Report) (¢wWnu•#J Year ended 30 June 2023 In Austratha Iconllnued) Through our Be Connected wogram this year. we awarded $5.7 million in grants to our ne￿ork of mmunrty partners. This induded Ouf Capaoty Buildirg program to train ¢Jigital mentors as well as DTrJilal Dewces grants to create devKe loan librariès in local r￿mmun￿e$. Through Ihis program. we also direcity Upskil￿d over 1,1C(l le's skils and ￿nfidence u%n9 online health and wellbeing swwices, with 91% of *arne￿ saying they felt more c¢y)fident managing their health and w8llbeing online as a fesum of the program. We ojntinued our partnership with Dcwn SyThlrome Australia after securing a ftmding exiensSon lo Ihis vital project. Tcgether. we c041esigned digrtal skills leaming resources with and for young people with intellectual disabilty and their support netsTorks. and commenced a professional development program for digital mentois Wo￿n9 ￿ this sp￿. We were pa￿"cUla￿Y excited to launch Digital S￿￿ets. ¢xJr brarnl new pih)I progrnm to emptrwer migrant and refugee women aged under 50 to bU￿d digital skills and swal ConneCt￿ns. We also released series of dtgilal support t￿S for Icw incom&lamilies, and delNered a pilot program to build more dNJitalty ¢¢nnected communities. These proyrams help lo debunk the myth that ifs onty ok1er people vtho are in need of a helpin9 hand when il comes lo leaming digital skilLs,' offerirKJ targeted. taibred and Irusted supporl for adults of all ages. Financial Revlew Prin¢ipo1 Fwding sou￿e9 As with Ihe prevv)u$ year. majority Of￿11 UK fuThJirKJ came from the prNal¢ Sector. and we continue lo shift away from Govemmenl Funding. Our primary funding source was our Strateg￿ partners Virgin Media 02. Vgdafone and Nominet. Any fvnding receNed from our strategic partners thal remained unspent at the year end 15 reported wthin our deS￿nated reserves at 30 June 2023. We also received lunrfing from a nunknr of other private organisabons and charita￿e trusts I￿lUdIng." Google.org, yorkshi￿ Building Sooety. JP Morgan Chase Fcyjndation, Nuffield Foundation, Okta and Ihg Co-op. Anhough no longer the tlominant sour¢e. Govemment funding continues to be importanl with ftJndiTr3 provided by the foll¢)wing local and central Governmenl entities in the period.. Hi5 Majesty's Revenue and Customs IHMRCI. Greater M8n¢hesler Combined Authority. West Midlands Combined Authority, North of Tyne Combined Authorily, Naiional Health Service {NHSI. the London Office of Technok)gy and InnovatK*n (LOTI). aNJ the Wdsh Govemmert. Our principal funder in Australia is the Australian Govemmenl through Ihg Department for Soaal Services IDSSI. We also receNed irKome from the Auslfalian Digital Heatth Agency, the Smith Family Charily. Telstra atxl Bendigo Bank. Good Things Foundation Company Llrnlted by Guarantee Trustees. Annual Rèport (Incorporating the Directors, Report) (conthu Year endod 30 June 2023 F5nanclal R•¥1￿ of the year In Ihe year ended 30 JLTh 2023. the Group generated lotal Inc(￿ of £9.683.368 {11 months to 30 June 2022.. £8.889.7801. lolal expendr(ure of £9,IXJ2,01712022: £9.678.6881. resullsng in nel income of £681,351 for the Feriod {2022'. n8t expenditure of £788,9081. On a like-for-like basis income 15 broadly in line with the prior period. wrth the £793.588 increase largely attributable to the current period being a month Jonger than the prior peric•J. C￿erall our expenditure decreased by £676,671 ￿rnpared lo the prior period. with the biggest driver of being a redudion in 9ranl paymen15. ￿11$1 grant payments to the Oigital Inclusion Network ale still the biggesl comptsnenl of our ¢os15 al 47'h of total expenditure, they reduced by £1.080.321 versys the prKJr period as several reslrTrcte(I grant programmes ¢ame to an end. The net income of £681.351 compnses net infl¢)w$ of uryestrithd fvnt15 of £545,571 and £135,780 01 restricted fund$. Our unreslricled income Èn¢ludes amounts we recewed in the periTrY from our strategic partners plu5 any olhef unrestricted donation5 and gronls. The net inllow of unrestricted fijnds 01 £545.571 was primarity due to a large one-off unrestrKled donalion of £625.(￿ we received in the UK Our ￿n￿$t11¢ted reserves are splrt into general aTrJ deswJnated. Funds re¢eived from OUT strateg￿ Partners are comrnitted to funding the delNery ofour current strategy be￿een ncAY and December 202S, as such they are reporled as desKJnaled reserves in the statement of ffinan¢k81 position. As al 30 June 2023 we had designated reserve5 of £973,78512022.- £1.130,902). Our general UnreStr￿ted resetves represent free reserves that are available for us to spend on any aclmty that 5UPPOrts our thari18ble D￿'eCt￿e$ and delwery ofowslrate9y. Any excess amount above the reserves Ihalwe need lo sel asideto manage risk. will be invested in our charrtable objectives. As of 30 June 2023. Ihe Gcoup is carrying forward free or general UnreStr￿ted reserves of £2,486.316. Of this total. £2.129.915 relates to the UK charity and £356.401 relates to the Australian charity. Restrict￿ funds have to be utilised on the woiects agreed with the funders who granted or donated these fvnds. Many of the proiects urKlertaken span more than one financial accounfing year. In such cases. any restficted fund5 received in the UK charty that have nol been fvlly used in the year on the projects that they Tund, must be Carr￿ forward to be expended in futvre y8ars. Thus, the nèt infbw of restricted lunds for the year 15 not a surplus tr#Jt a timiThJ difference btheen when we receive restr￿ted funds for a project and when we carry oul that projecl. Al Ihe end of the year. we are carrying forward £826.630 olrestr￿ted funds lo be ulih"5ed in firture years on the ￿le¥artt proje¢t$. These restrthd fvnds relat& lo the UK charily only. Cash and cash equ￿3￿nts were £4.53S.772 at 30 June 2023. an inuease of £733.(￿8 versu$ pl￿r year130 June 2022: £3,802,704). The iThyea$e li cash is a resutt of the athm8ntioned nol inflow of unrestricted funds during the yeai. InvoStm•nt poll¢y Aside from retsining a prudent amount in reserves each year to cover risks aTrJ provide for wothing c8pilal. Ihe charity'5 fiJnd5 a￿ lo be spent in Ihe short lerm a5 sel oul in our ftJrKling ¢ontra¢15, 50 there are no funds for long tenn investment. Any funding receNed in advance is invested in alher an instant access or a 90-day deposit accwnl depending on our cash requirements. 10 Good Thlngs Foundatlon Company Limited by Guarantse Trustees, Annual Report Ilncorporating thé Directors, Report) (¢Vnilnu Year ended 30 June 2023 Group ReseThes poll¢y Good Things Foundation's reserve5 policy fo¢u5es on the l&vel of free reserves. Fre8 reserves exdude restricted fvnds and designated ￿nds. Our UK and Australk?n entit￿S have independent reserves polioes sel by their local management teams and Board of Trustees l Directors. whtch Combine to form Ihe Group's reserve policy. The recunmended free reserves level is cakulated annualty in advance ol Ihe budgel process, by each charity based on the 3pe¢rfic risks and opportunities facing Good Things Foundation in each olthese lerritories. The level of free reserves is fflonitored on an ongoiThJ basi5. With Ihe polic￿5 reviewed anrtually by Goc¥J Things Foundalion'5 Group and ¢ounlry Board5. Good Things FounfJ81ion seeks to maintsin free. unrestricted ￿serveS lo manage the risk5 to whic* we are exposed in the couise of o¢Jr buynes5. indudiThJ bui not limrted to mib"galing uncertainties in c*Ji funding and eamed income. in our core operab.ng t￿ntrIeS of the UK and Australia. The reserves are also needed lo meet the wovking capital requirements of the tharity which are be￿MIng 3 higher risk for us as we conlinue lo diversify wr fvr￿1ng streams. inclu(ling irrto attracting un￿st￿.¢ted donation$, and the bnger term expendrture ¢ommithienls we are making. aiiyng from our strategic partnerships ¥nd delivery of Ouf new three year straiegy. Any $￿uS on free reser¥es at#)ve the amount we need will be inv&sle(l in ow tharitsble obJ"e¢b"¥es. Group Reserves sltuatlon The Board has deuded that in order to meet these needs. and to oFerate effectivety. Gofxl Things Foundatitin neeijs UnreStr￿ted general Group reserve5 01 be￿eeft £1.600.000 and t2.6ThJ.O 1£1.200.000 to £2,200.¢XQ in the UK and £400.0(K¢ Auslralr41 based the ￿r[eTht anatysis of ￿k. Currently total unrestri¢ted reserves are withui th$ ranye. Plans for futhre perfod8 In the coming year. we wil continue to deliver •#ivty thal helps us to fry Ihe di9itsl dNNle in both the UK and Australia. In the UK, our core focus WIN be on investing in the National Digital Inclus￿ Neh¥ork, the National Databank and National Device Bank. to pwde free a￿$$ to the di9ital workl for those currently excluded due to aflordability or a lack of skills. We plan to lest new and innovative approaches lo increase and grow our impact. whKh will be foeAJsed on increasing.. the Ltse of our Learn My Way Platfomi. Ihe number of mobile ¢onnectNty SIMS ￿￿ded lo benekiaries and number of reful￿'shed devices distributed by the National Dewce Bank lo dgilal inclusion hubs. Our ability lo deliver our str*egy through lo 2025 wll require lurther fvnding and our fundraising efforts will ¢on¢enlrate on both re¢rurting additional Strategic Partners. but aL%o programme based fvnding where il is dosety alwJned lo helping us reach our slrategt ambitions. A strong National DNJital Indusion NetW￿k is cribc81 to us meeting our goal of engagiThJ 1 ffillion peop across the UK by the erKI of 202$. helping them tenefrt from the digital wortd. We will look to grow the number ofdwital inclusion hubs in this rte￿ork. prwding support vki financral grants, access lo training and dwjilal indusion resouices ensuring their vow can be heard. We will keep in touch with trends Ihatmay affect d￿rtalty excluded Feople- s(th a$Arbkial IntellKJence {All. As ahvays, we will be ￿fOrmed by research and insight. and fo￿Sed on ddNering 8¢tivrty that meets the needs of both our communty nthork and those they SUPF¥)rt. and we will continue to showcase the benefrts of researt* ant1 ewalualion. Good Things Foundation Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrectors. Report) {¢onthu*Q Year ended 30 Juno 2023 Plan$ for future perfods Icontlnued) There will be a General Election in the UK before January 2025. so we will continue lo raise the profile ol the urgent need io fLX the digital divide politicAans across the polrtical parties and acr055 the nations of the UK. In Australia, we are locL￿d on InU&￿i￿g and diversifyng our digital inclus¢on program$ and advoca efforts to SUPFt)rt people in need w￿1 akn continue lo supwr our network of comrnunty organisalions and digital mentors lo deliver high qualty digital skills support through programs like 8e Conrteded and Th"gital Sislers. Ihe Gel Online Week ￿Mpa￿3n. G(x)d T￿ngS Learnin9 plaffwn and exciting new projects. Campaigning to fix the digilal div*Je for good will rem*n a ojre part of our woth as we wll contirmje lo advocate for both ourcommunity pariners and lordigitally exduded people. in t*)Ih the UKand Australia, and beyond. We will continue to be ambitiws 8t*)Ut our impact to ertsure that everyme can thrive in a dvJital worfd. strUC￿re, Governance and Managem•nt Governlng Document and oryanosatlonal slwctyrg In the UK, Good Things Foundation's governing document is ils Memorandum and Articles of Association which established the objects of Ihe charitabke company and is governed under its Articles of Asso¢ial*)n. We are a chariral￿e o)mpany limrted by guarantee sel up mutual plin¢1￿&$. with three staff members elected lo sit on our Board. ti*JelhÈr wrth our Group Chpf Exe￿lIVe. We were incorporated ¢Jn 26 July 2006. and we Wan Irading on 1 December 2011. On 19 January 2016. Good Things FO￿￿jaI￿ became a regisleffjd ¢h¥ity.' one ofthe ffirst ch*ities in the UK to retain its mutual fourKling princ>p￿s, after approval from the Chaiittes Comrnission. This was a maiof achievemenl for Ihe organisatts)n arKI has helped to ensure that we remain ￿oUnded in the needs of those we svpptsrt as we have grown our WDPa All staff ol the UK Charty who have been in [￿st for al knt six Mc￿thS can beoTh members of the ¢ompaAy. together with the extemèl nrm*xeeArtNe direct￿5. In Ihe event of1he company beirrfJ wound up, members are required to conlribute £1 tchyard the settlement of any company debts. In April 2017, we estsfAished Good Things Foundation Ltd, a charity in Australia. ofwtKJm Good Things Foundation is the sde Member. This helps us lo ¢Jeliver our missw. export know-how, and reach more people. We run the charities as a Group. wth both L*bariknes shan"n9 the same obiecis and working dosety together to ensure $u¢¢e$s. A scheme of delegat￿ is in place and day to day ￿SponSi￿1￿ for the provision of the UK services rests with Ihe Group Chief Executive and the UK Senior managen￿nt Team. Through the Group Chief Executive, the Group goard is responsible for ensuring that the Group is successful and legal. and that. in the UK, the ¢harity delNer5 115 three-year straiegy and the key perf0m￿nCe indi(3lors are met. In Australia, Ihe Chair of the Board and the CEO for Good Things FOundat￿n Australia have de￿gated responsibilty for the leadership and operations of the charity in Au51r8li8, as well a$ for ¢omplian¢e wrth Australian L￿S and go¢JI Govemance. A dear schedule of delegaied res￿￿$1b11￿les sets out the reL8live accountabilities lo the respective Boards and Officers. 12 Good Things Foundation Company Limlted by Guarantse Trustees. Annual Report (Incorporating tho Dlrectors, Report) Iwithu• Year end￿ 30 June 2023 Govemlny Document and ory•nisational slTuclurn IcontiNed) In October 2019. we began reguL4r bFannval meetUlgs of a Joint Committee formed of TrusleegDireclors from the GrouplUK and Australian Boards. 11 1$ al Ihis Commitlee th* we approve Group level strategies and ￿ans. as wel as consthr the GroUp-￿Ve1 risks. RocruStm•nl •nd ￿InIng of Trustms The directOTS cl G￿xI Thin9s FouThJatKin Mi the UK are 81$0 charity trvstees for the purpose of charity law. Under Ihe requiremenls ofthe ArtKfès ofAssooati¢)n. Ihe dire¢tors are elected to seNe for8 period of Ihree years after whth Ihey can stand for ￿eleCtIon at the next Annual General Meeting. Our Board of Diredors in the UK conshsts of e￿ed and apwnled direciors. The elected directors consist of three staff dire¢lois elecled by our staff. The aFpoinled directors. which must be at least four and up to ten in total. a￿ app)inled lo fill relevant skrfls gaps on our Board via open advertisement and. where appropriate. by using a recruitment a9enw wrfh experience in recruiting charity trustees. The Group Chief Execulive is aPp￿ted onlo the for the tem of her enyloyment as GNP CEO al Good Things FoundalK￿. Trustees are provided wtlh a buddy from the existro Board and given the opportunty to attend events and visit projects to infxease Ihwr understsnding ofwhal we do. We laik)r Ind￿￿10n lo meet their needs - this ¢an include shadowing seni(¥ $tsff or lyiefing se55K)ns with teams arxoss the ¢yganisal*)n. There have been a nurnber of changes to our Board Of Twstees over the past 12 m￿th$. In January 2023 we We￿ delighted lo wekome Vinous Ali. David Bernard and Julie Hawker and new staff-elected trustee$ Tom Hillsdon an¢J Louise Bran¢h on the Board of Truslees, who ￿1￿cl￿elY brin9 ￿ts1 skills, expeiience and passton thatwill provide valuable assetsto ouroryani5ab"on. wnplementing ourexisling Board memters. Sadly one ofour founding trustees, Wlliam Perrin resigned in February 2023. Willom had been on our Board ￿nce 2012 and pkiyed a key role in supporting and guiding ourexecJJlive rnanagementteam over Ihe past deude. Sitsl Mtslry also left the Bowd folbwing the end of her tenure as a staff trustee in November 2022. We are exlremety gratefvl and thankfvl for the S￿nIfiC￿t contribthK)ns both William and Sil81 made to Good Thing5 Foundat￿ during thew lime as trustees. Ri$k man#g•m•nt A Group Risk Register has been prodwed aThJ is urthted and reviwed at eath Board meeting in ihe UK and Australia. and the Boards, Joint Committee. Systems and procedures are establishetl lo mrtigale the iisks the chaiities face. Procedures are in place to ensure the health and safely of ststt and wsilors lo ouc pfemises. Th• prlnclpal risks and un¢•rtalntl•$ f•¢ing th• ¢ompary The global ￿n(￿niG outlook rernains U￿rtaIn. Despiie a reth¢Xk)n in the latter haff of 2023. inflation is still higher than recent historical ￿velS arKI economic gr¢)wth proje¢b"on$ for 2024 are well below k*ng run avèra9es. Major eoxom*s including the UK and Australia. ¢tsnlinue to be impacted by this high and sustained inflation, rising interest rates. polilical uncertainty and global events ¥) the Ukraine and Israel. signif￿￿{ pressure on publ￿ finances remains and there is a risk Ihat the dech.ning trend in Govemment fijnding for digital inclusion initiaiNes arKI ￿￿￿tieS rn general continues. 13 Good Things Foundation Company Limlted by Guarantee Trustses. Annual Report (Incorporating the Directors, Report) {¢w Year ended 30 June 2023 The prfnclpal rfsks and uncertalnties fa¢lng the ¢ompany {¢ontinued> In response lo the irKreased risk and chaNJin9 nalure of funding laThJscape. in the UK we have conlinued to dwersfy our fijnding. so we are less reliant on govemmenl funding. with us adding Nominet (June 20231 as a third strategi¢ partner ah)n9side Wir9in Media 02 and Vodafone. We do hwever continue to ad¥o¢ate for Go¥erMienl lundry and inve$trnent into dw¥lal indu$K)n. and maintain stron9 relat￿shIpS auoss a number of key govemmenl departments in the UK and Australia. and Govemment ftjnding is still the princapal source of funding for our Australian entity. We were therefore thrilled when Ihe Australian Government announ￿ in October 2023 that il was extending fundin9 for our flagship Be Conr*rted prisram a lurthef 4 years unlil end June 2028. To meet our UK strategK arn￿tion of engagitW3 1 million peop￿ by 2025, we are reliant on the Nalional DMJiial InclusK)n Netsyoth using our semces lo help r*ople in their communf(ie8. pariiculaty Leam My Way. ¢XJT Iretr plalfom for dvJital leamiThJ and distrit￿tIng data from the National Databank. There is risk that the uptake of OUT servK*s is bwer than forecasl, meaning we don't hit our strategic ambition by December 2025. In mitMJating this risk, we have invested in foeJJsed and SCa￿d insighi to understaThJ and remove barriers hubs may face with Learn My Way and disln'buting SIMS. we will continue to increase our promolional activity CTealing new and physical assets lo better signpost oui serwces lo beneficAaries and we will explore innovative and new ways to enab￿ beneficiaries to access Leam My Way, the National Datsbank and the National DevKe Bank. ilsl we have been 5uccessfiJ lo date in Mar￿3￿ inftat*)nary p￿$s￿re6 through strong cost management and eff￿er￿Y and rab'onalisaiion projects there is a risk that the eurrent high inftalion does not corne down as lorecast in 2024. leading to a material rise in operabng Costs. particul8￿Y in staffing costs. We have ￿mMenCed a program lo ¥eplace our (ywn tethnology sts¢k, which will allow us lo deliver our products and servr*s to the Nalional Digrtal Inclus*)n Neknk more c051 effectively and eff￿lent￿ in the fLrture. We also monitor our firtar￿$ dosety and h8¥e sufficient waming systems and reserves in place to alltsw us lo tske action ￿ address any L)Jst tha1￿￿eS that may arise. 81beil these acti)ns may ￿dUce the level of impa¢t we can have. We estimale the National DevKe Bank wil neeij in excess of 200,000 donated devices to ensure it can meet the demar)d for refurbished deviees befvleen now and Ckcefflber 2025. There is a risk that we fail to secure sufficient devTh donations. resulling n an inability lo scate the National Oevice Bank 3nd provide beneficia￿$ with lo device$ thrOug￿Ul the Ubc We have undertaken a number of activities focused on boosting ILrture dew donation. indudiThJ.' w0￿1￿j with Deloitte and the CireJJlaT Electronics Partnership lo produce Ihe Circular electroni￿ for social good reporf in May 2023 which provides solutTons to some of Ihe per¢eNed donation barrie￿. Our advocacy work. ￿SU118d in thg Govemmenl response Ioctober 2023} lo the House ol Lords Communi￿tiOnS ènd Di9rtal Committee report. exploring dKJilal ex¢lugon and the cost of li￿n9 ¢Jtsi$. induding a Commitment Irom the Department for Science Innovation and Technology to conducl a svbstanlive rev￿ of Iheir current position and idenbfy a roadmap lo tulure donation. and they will encourage other departments. publ bodies and compan* io do the same. We wil conb.nue to wn •*8renes$ eampaigns bringing together existing donors and new prosr*ds. )ile working intemalionalty prOv￿￿e$ us wrfh great opporturmlies to make a worfdw*ide impacl and lo raise inctsme. this is by natu￿ riskier than wc¥king in the UK. We have devebped and maintained risk registers for each maiorprojed. Hwh risk iterrts are escaLateJ lo the Group RL8k Regisler wf*n needed. 14 Good Things Foundation Company Llmited by Guarantee Trustses. Annual Report (Incorporating the Directors. Report) Iconiinw¢ Year ended 30 June 2023 Tw$tees' r•sponslbilill•s slat•m•nt The trustees. who are also direct¢ys forthe purwses of company law, are re5FLJnsible for kweparing the Iruslees. report an¢J the finanoal stsl&menls in attordarte wrth apptiLxble Lw and United Kingdom Accounting Stsndards {Unite(l Kingdom Gefieraly Accepted Accounting Prathe). Company law requires the Chanty trustees lo prepare finan(ial stateM￿lS for each year vA)ich gve a Irue and faw View of Ihe stste ol affairs of the charitabk company and the ino)ming resources and application of resources. including the ￿COrne and expenditure. for that period. In preparing these finanaal statemenls. the tmstees are requwed to.. solect suitable acccwnting pol￿￿$ and then appFy them cffiystenlly.. observe the metho¢ts arNI principles in Ihe awicatile Charitie5 SORP: makeiudgments and acuwnb.ng estimates that are ￿sonable and p￿￿enL state whether applicable UK AtxountAig Standards have been followed. su¥'e¢l to any malerial departures dis¢k*sed and eXp￿Ined in tre financid stslements: and prepare the finanual statement$ ¢)n the conc4m ba$1$ unless it is Inappropriate to presume that the charity wll continue in business. The twstees are respL￿s11 Ae for kee￿r￿j adequate ￿ntIng reoxds Ihat are suff￿ent to show and explain the charl￿S Iransactions and discknse wtth reasonable accuracy al any time the finanaal position of the charity and enabk them lo ensure that the financxal statements comply with the Compan￿$ Aci 2(XJ6. They are also responsible for saleguarding the a55ets of the Charity and hence for taking reasonable steps for the wev¢ntion and dele&¥Jn of fraud and other wregulaiilies. Auditor Each of Ihe persons who is a truslee at the d* of approval of this report ¢onfmi$ that.. 50 far as they are aw¥è. there is no rele￿1 a￿111 informalitin of whK* th6 tharity's a￿lItOr is unawa￿. and they have laken all steps that ihey ought lo have taken as a Iruslee to make themselves aware of any relevant aLJdit inf0ma1￿￿and lo establrsh Ihallhe chanvs auditorlsaware of that information. The auditor is deemed lo have been re-appointed in accordance with section 487 oflhe Ccrfnpanies A 2006. The Iruslees. annual rerth and the strateg¢ rewl were awoved on 30 January 2024 and svjned on behalf ol the board of trustees by.. H L Milner Tnjstee 15 Good Things Foundation Company Limited by Guarantee Indepondent Auditorfs Report to the ￿eM￿r5 of Good Things Foundation Year ended 30 June 2023 Oplnlon We have audited the ffinanck715tstements of Good ThirvJs Foundath)n (the'charitn for Ihe year ended 30 June 2023 which conwrise the group consolidaled statement of fina￿131 act￿ltIeS lindudin9 Ir￿l￿tt and exFenditure acojuntl. the group and the company statemerrts of finan¢o1 pogtion. Ihe group statement of cash fiows and the rekted notes. indudirvj a summary of significant ac0)unlu￿ policies. The financial reporting framework that has b￿n appl*d in their prepar*K)n is applicatrAe 14w and United Kingdom Accoynling Standards. in¢luding FRS 102 The Fina￿131 Reporting Stsndard apph"cable in the UK and Republtc of Ireland (Uniied Kingdom Generalw Accepted Accounting Pia¢b"¢e). In our cyinion the ffinarwl Ststeft￿nts'. give a Iw8 and faw we44 oflhe stsle oflhe group and the parent¢hariVs affairs as at 30 June 2023 and of Ihe 9ioup'$ in¢Miing resources and applJcatTron of resources. i￿lUdIng its irKxime and expenditure. fNthe year then ended.. have been properly prepared in aCC￿￿￿e with Urmted Kwigdom Generally A￿epIed AccounliThJ PraCt￿e-, hav8 been ￿pared in aef3ydance with the requirem¥tts of the Companies Act 2C(6 and the Charities Act 2011. Basi$ for oplnion We conducled our audit in accordw wilh Intemalional Standards on Avdiling IUIQ IISAS IUKI) and applicable I￿. Our reskX)nsibilities under those stsndards are lurther described in the auditorfs responsibilit*s for the audil of the financial statements secticffl of our report. We are independent of the charty in accordance wth Ihe ethrAI requirements that are relevant to our au¢tht of the financial statemenls in the UK. induding the FRC'S Ethical Standard, and we have fvthlled our other ethical responsibili1￿$ in atxordance with these reqiiremenls. We bdieve that the audit evid¥n¢g we havg oblained 18 sufficient #nd approwiate ￿ provxle a basis kn our 0￿￿)n. Conclusions r•lating to golng conc•rn In auditing th¢ financial stslements. we have Conduded that the tr115tee$' use of¢P￿ goiro concern basis of accounting in the preparat￿)n of the financial statements is appropriate. Based on the work we have perfomed. we have r*)t identffied any material ￿certaIn￿eS relating lo events or conditions that. individually of couectivety. may ca51 signthcant doubl on the charity's ability lo continue as a g￿n9 Concem for a perbx of al beast ¢we￿e m(ths from the date when the financrdl slalements are authorised for issue. Our responsibdil*s and the respmsbilrties of the trustees 7Aryih ￿Spect to going concem are described in the relevant sections of this rewl. 16 Good Things Foundation Company Limited by Guarnntee Independent Auditorfs Report to the Members of Good Things Foundation l¢ontinuedJ Year ended 30 June 2023 Other Inft+rniatlon The olher intsmation ojmprises the information induded in Ihe annual ￿por[ other than Ihe financial stslamenls and our auditorfs report Ihereon. The trustees are responsible for ihe other information. Qur opinion on the financial statements does not cover Ihe other information and, except lo the extent otherwise explicitly stated in ¢yJr report. we Ik) not express any l￿ffl of assuran￿ c4JndLk8ion thereon. In conne¢tiLX) with our audit of Ihe firkanoal statemenls, our responsibilty is to read the other infomats.on and, in doing so, consider whether the other infOrmat￿)n is malerialty in¢onsi$lenl with the financial stalements or cyjr knowledge obtained in the audit or otherwise appears lo be matwally misstsled. If we identfy such mateiial inconsislerKies or apparent malerial misstalement5, we are required to detefmine whether there is a malerial misstatement in Ihe financial Ststements or a material misstatement of the other Informat￿￿. If. based on the we have perfomied, we cotKlude that there is a material misstslemenl ofthis other infrmalk)n. we are wuired lo ￿P)rt that fact. We have nothing to report in this regard. Oplnlon$ ¢)n t)ther mattern P￿￿1b*d ty the compani￿ Act 2006 In r#Jr ¢)pinion. based on the work undertaken in the ￿￿r$e of Ihe auditr. Ihe inf¢ymal*)n gwen in the Iwstees. rep)rt for the finarrial peritid for the financial slalements are prepared is cOn￿stent with the financial statements", and the tntslees. report has been prep¥ed in acc(Kdance v•ilh applicable legal oquwements. Mattern on whi¢h w• are required to r•port by exception In the light of the knoMethJe and urvJers&nding ofthe (*anty and bls environfflenl obtained in the course of the audit, we have not *Jentffth mateiial mksstatements in trustees, reFwyL We have nothing to report in respect of the fdlowThJ matters in relatlon lo wtii¢h Ihe Compaths Act 2006 and the Charities Act 2011 requiies us to reFQrt lo you if. in our opinKIn'. adequate ats>)unling records have not been kept. or rebjns adequate ￿ our audrl have not been recEived from brand￿$ not wsited by us. or the financial statements are not in agreement with the aceountiro T￿ordS and ffjtum5: t certain disdosures oflrustees. ￿rnUnerati￿ speryfEd by law are not made" or we have not iecwved the infonnatw)n explanalions wg re(wire kn our autht. 17 Good Thlngs Foundatlon Company Limited by Guarantee Indèpendent Auditorfs Rèport to the Members of Good Thlngs Foundation Year onded 30 June 2023 Re$pon$ibilities of trustees As explained more fulty in the trustees. reswsiknliti.es ststemenl, the Iruslees (who arè also the tlirectors forthe purFoses 01￿MpanY lawl are res￿￿$1t￿e forthepreparalion of the financlal statements and for being 5a115fied that they gNe a Irue and lair view. and for such inlefflal ￿ntr¢I a$ the IDJStees delemine is nece55ary to enable the preparat￿n of financial slalements ihat are free from material misslatemenl. whether due to fraud or error. In preparing the ffinaroal statements. the truslees are responsible for assessing the tharitys ability to conbnu8 as a going concern. disch)sin9, as appli¢alle. matters relaled lo wing ¢x>n¢em and using the going con¢em basis of accounting unless the trustees either tnlend lo l*]uidale the charity or lo cease operations, or have no ￿all$ll¢ amernative but to do so. AudStorf$ responsib51itles forthg audbt of th• financial statements Our objectives are lo obtain reasonable aSSUrar￿ aboul whether the ffinancial statements a5 a whole are free from material misstatement. whether due to fraud or error. arKI lo issue an auditof s report that Includes our opinim. Reasonauè assuranee is a high level of assura￿ but ts not 8 gu8r8nlee that an 8udrt conducted in accordance wÈlh ISAS {UK) will always t1ele¢ia material mi5Stalernenl when it exists. Misslalemenls can arise from fraud or eTroT aThJ a￿ considefed material rf. in¢Jiwdually or in the aggregate, Ihey coukj reasonatAy be expe¢Xed to influence the eoMomic decision5 01 users taken on the basis oflhese finaroal slatements. Irregularities. induding fraud. a￿ insLinces of non•com￿lance with laws and regulations. We design procedures in line wlh our responsibilitiès. e4Jllined above. to deled material mis51alemenls in respect of irregulaithes, induding fraud. The extent to whth our pr¢xedures are capable of detecting irregularities. induding fraud. is detailed beknw.. We identfy and assess the risks of material mis$latement of the finawal $t*ements. vthether due to fraud or error. and then design and prfom audit procedures responstve to those risks. includiro obtaining audr( ev*Jence that is surroenl and appropriate lo prowde a basis fc￿ ¢wr opinion. In identifying and assessing risks of material misstatement in respecl of Yregularities. induding fraud and ￿n-coMplIance with laws and ￿gu￿11(￿s. we o)nsidgred the folltrwing: the nature ofthe industy and sector, control environment and business performance, including the idenlificalion of ￿lated party Iransac*"ons. and matterswhth could potentially impact on Ihe tharity'5 conlinuat*)n ¥s a going concem", resutts of our eThJuwies of management and assessment of the risks of irreg￿rities,. any matters we identthed hawtvJ obtsined and revwed charity's do¢urnentath)n of their poliws atyj procedures ￿lating lo". idenlrfyin9, evaluating, and COM￿￿1n9 with laws aThJ regulat¥)ns and whether Ihey were #ware of any ¥)stances of non•complian¢e: detecting and reS￿dIng to Ihe risks of tr￿d whether they have knowlethje of any tual, suspede11. or al*ed fraud", o Ihe inlemal contrds established to mit•3ate iisks of traud N non)ncem basis of accountng and. based on the a[￿lit wdence obtained. whether a material uncertainty exi$l$ related to events or conditions that may casl sKjnif￿nt doubt on the charitys abilty to continue as a going concem. If we conclude that a material uncertainty exists. we are reqUI￿d to draw attention in our auditorfs report lo the related d15d0￿jreS in the finanaal slalemenls or. if suth disckjsures are inadequate. lo modify our opinion. Our conthjsions are base<1 on the audit evKJence obtained up lo the dale of our auditorfs report. However. fLrture events or Cond￿￿5 may Cause the ¢hanty to ¢ea$e to continue as a g*ing cOn￿m. Evaluate the ovefall presentslion. stru¢lure. and ￿n￿nI of the fin￿cial statements. including the disclosu￿$. and wheiherlhe finanaal statements relyesenllhe undtying Iransactions and everts in a manner that achieves fair presenialion. 19 Good Things Foundation Company Limited by Guarant•• Independent Auditorfs Report to the Memb•rs of Good Things Foundation Year ended 30 June 2023 Oblwn suffKienl apwopriale audit evidertt ￿3[di1￿? finantyal information of the entitles or aclivilies within Ihe group to express an opinion on lh¢ ¢onsolidal$d fina￿la1 statements. We are responsible for the direclKJn. superviwn. and t*rformar￿ of the groLtp audrt. We remain sojely responsible for c￿r audit wnion. We Communicate with those c*arged with govemarK¢ regarding. other matters. the planned Scope and timing of Ihe audit and significant audit fmding$. irtduditYJ any swrf¢ant doficiencies in intemal control that we during our audit. Use ol our report This Teport is made sdety to the ¢hanty$ members, as a body. in ar£Ord￿Ce with Chapler 3 of Part 16 of the Companvès Act 2fyJ6 and in resFect of (he consolidated finantyal stsiemenls, lo the charity's trustees as a body, in arLordance wth section 144 of the Charities Act 2011 and regulations made under seclion 154 ofthalAct. Our audit wc¥k has been undertaken so thatwe mtqht State to the charitws mernbers those matterswe are required lo state to them in an auditorfs rep¢)rt and for no other purpose. To Ihe fullest extent permitled by law, we ￿ not •xept or assume reswnsibility lo anyone olher th the charity and the charitls members as a body. for c*Jr audrt w(*k. for this re[￿. oi for the opir4ons we have fom)ed. ANDREW THROSSELL FCA (SenKJr Ststutory A￿litor) For and on behaw of Hebblelhwaites Chartered Accountsnls and Statutory Auditors 2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ 30 JaThJary 2024 Good Things Foundation Company Limlted by Guarantee Consolidated Statement of Financial Activities (including income and expenditure account) Year ended 30 June 2023 Per*)d from 1 Aug 21 to 30 Jun 22 Year to 30 Jun 23 VNestri¢ted Re$trifAed funds fvnds Totsl funds Total fuThJ$ Income and endowments Investment income Other in￿Me- Charitab￿ #di￿1 82.376 2.*2,652 1045.028 6.638,340 82.376 9,600.992 9.683.368 11.192 8.878.$88 6.638.340 Total incvm• 8,889,780 Expenditu Other expendl1u￿- charitab￿ actmties Totsl exp•ndltur• 2,499,457 6.502.560 9.1x12.017 9.678,688 9,678.688 2.499.457 6.502. g.(X)2.017 Net In¢¢)m￿lexpend￿tyrn) and net movement in funds 545,571 135,780 681.351 (788,908} Reconclllatlon of funds Total fuThas brought forward Total funds ¢arrf•d for*ard 2.914.530 3.460,101 690.85) 3,605,380 4.286,731 4,394,288 3,605,380 826,630 The slalement ol fin￿41 ac11￿1*S indudes an g*ns and losses rectynised in Ihe year. All in¢ome and expendrture derives from ClM*inuing ￿lmtieS. The nots8 on pages 25to 34 tonn p•rt of these flnonclal stat•men 21 Good Things Foundation Company Limited by Guarante• Consolldated Statement of Flnanclal Position 30 June 2023 30 Jun 23 30 Jun 22 Flxed assets Intsngible assets 13 173,187 Current assets DebloTS Cash al bank and in hand 15 493,352 4,53s.n2 5.029,124 184.691 3.802,704 3.987.395 Creditor&: amounts fallkng due wlthln *in• year Net currnnt assets 16 742.393 4.286,731 4.286.731 4,286.731 555,202 3,432,193 Total •ssets les$ Current liabilities 3.605,380 3.605.380 N•t assets Funds ol th• ¢haiity Unrestricted lunds General Designated 2.486.316 973.785 1,783,628 1,130,902 3.460.101 2.914,530 Reslricted fvnds 826,630 17 4286.731 690,850 3,605,380 Totsl eharityfunds These f￿ancial slalements were appro￿1 by the tN)ard ol trustees and aultKyise(1 for issue on 30 January 2024. and are svJned on behalfof IIE board by: H L Milner Trustee E A Wlliams Trustee Cowny regi5tralKJn numbw. 05887661 The notes on pagqs 2S ¢0 34 fonn part ofthvs• statsment& 22 Good Things Foundation Company Limited by Guarantse Company Ststement of Financlal Position 30 June 2023 30 Jun 23 30 Jun 22 Fixed •ssets Inlangible assets 13 173.187 Current ass•ts Deblors Cash al bank and in hand 15 514.284 3.628.477 {142.761 483.431 2,897.853 3,$81.284 Credllorn: •mounts lalling due wlthln one ye•1 Net Current avdets 16 212.431 86.301 3.930,330 3.930.330 3.930.330 3.294.983 Total assets less Current liabilitles 3,468,170 3,468,170 Netas$ets Fund¥ of the charity Unreslricted funds General D¢signated 2.129.915 973.785 1.646.418 1,130.902 3.103.700 2.777,320 Reslrided funds 826,630 3.930,330 3.468.170 690,850 Totsl charlty funds The nel Inwne for Ihe finarKial year of Ihe par*rt cwipany was £462.160 12022.. £731.499 net expendilurel. These finanual statements were approved by the board of Iru51ees aThJ alrth￿Sed for i55ug on 30 January 2024. and are signed L)n behaw ofthe board by= H L Milner Truslee E A WlSams Twstee Comp*y registration number. 05887661 The notss M page$ 25to 34fomi part of th8s• financial ststements. 23 Good Things Foundation Company Llmited by Guarants• Consolidated Statement of Cash Flows Year ended 30 June 2023 Period from Year to 30 1 Aug 21 to Jun 23 30 Jun 22 Ca8h flows from operating act5v511es Net incomel(expendilur&l 681.351 (788.9081 Adjustments for Amortisation ol Intangib￿ assets Olher interest r￿e￿ab￿ and simdar Accrued expensesllincome} 266.502 50,105 182,3761 111.1921 172.351 {1,122,¥28) Changes in.. Trade and other debtors Tra¢Je and oiher ¢redrt(Ys 1291.4521 {58,1881 12.3691 {121,8921 744,007 (2.053,003} Cash generate)d Things FoLSn4alion and all of its subsidiary undertakings. The parent company has applied Ihe exernptKJn contained in seclion 408 of the Companies Act 2006 and has not presenied its indNKlual profil and loss ac¢ount. Judgements and key sources of •stlmation uncertainty The preparation of Ihe financial ststemenis reqimrès management to make Il￿ementS. estima￿8 and assumplK)ns that affect the amounts rep¢yted. These estimates and judgements are ¢ontinualty reviewed and are based on experience and olher facior5, including expeclations of lu¢ure 8v¢nl$ that are believed to be W$￿Iable und8r the ryrcumstances. In Ihe opinion of Ihe management ￿lj trustees. Ihere are no judgements or key sources of estimation uncertainty that have a SvJnrf￿ant impact on the financial statements. ot￿1 than Ihose highli9hled below. Income tax The charily is exempl from lax on ir￿rne and gains. falling wilhin part 11 of the Corporation Tax Act 2010 or section 256 ofthe TaxaiicA) ofchargeable Gains Act 1992. lo thg extent that these are app&ed to its tharitabk objects. No lax tharge$ have 3ri5en in the year. 25 Good Things Foundation Company Limited by Guarantee Notes to the Financlal Statements Year ended 30 Jun• 2023 AccountSng poli¢i•s (¢ondn¥¢4 Fund account5ng Unrestricled fun¢Js are available fry use at the diSueti￿ ol Ihe truslees lo further ary of t charity's PUWJses. Des*Jnaled lund$ are a FQrt•)n of wwestricted lunds that the truslees have c4)fflmitted to spendiThJ on a specific wTrJramme of work ty purm and art reported separatety on the face of the statement ol finantyal position and ac£ompanying notes. Restr￿ed funds are subjected to reslii¢avins on their expendilure deckred bylhe d¢)nororthrovgh the terms of an appeal. and fall inlo ly￿ ofh¥o sub-dasses.. restricted irKome frJnd$ or eThJowment fuThJs. There were rto endowTnenl lunds dwng the Fer￿￿. Incomlng resourc¢s All income is induded in the ststemenl of finanrAal aclivil*s when entiuement has passed to I charity. it is probab￿ Ihal the economic benefrts associale(I V*ilh the transaction will Ilow to the charity and the amount can be reliatty measured. The following specific policies are applied lo paiti¢ular catewies of income: In￿me from dona1K￿5 or grants is feu)gnised vh*n there is evtdence of entitlement lo the gift, r8ceipt is probabkn. and its amount can be measured rel4bly. in¢ome from contra¢ls for Ihe Supp￿ of servtes is recx)gntsed with the delivery of Ihe contracted semce. This is dassified as uftwl￿ed fuThJs unles$ there is a contractual reqLtiremenl for rt lo be spent on a partKulw wrpose and returned it unspent, in whi ¢4se rt May be ￿98￿ded as restrrted. In the Australian SUb￿diary certain grants receivable are S￿)Iect to fvlwe conditK)ns such thatthe grants are not recognised unts'l there is reasonaNe assurance thalthe Companywill comply wrth the condrtK¥ns. ￿ere grants are rtteived prior lo satisfying the revenue recogntti¢)n criteria. Ihey are included as a ueditor for deferred income. Resou￿•8 •xpended Expenditure is recognised on an accruals basis as a liabilrty is in￿rred. Expenditure in¢ludes any VAT whth Cannot be fijlly recovered because of partial exempt*)n. and i% dassified under adings of the statement of finanaal actmbes lo whKh it relates: expenditure on tharitabl& actmties indudes all costs ￿Curred by a chanty in underta￿'r tivilies that fvrther its charitsble aims for the benefft of its benef￿lan&s, induding those support costs and Costs relaling lo the uYJveman¢e of the tharity apportioned to chaiTtab tNilies. granls paYa￿e are PTO?Aded to community organ￿1￿5 and cenlres lo deliver9rass roots activNies. These aCt￿rt￿s are key elernents of the ¢ontracts wrth lunders and corporate partners, include basK digital skiNs supwl. English language ￿rning and. other sessions. All ¢o$ts are allocatsd lo expend"rture calwes relle¢ling the use of the res*wr¢e. Direct cL*sts attributable lo a single a(#ivtty are allocaled diredty lo Ihal actiwty. Shared c￿$1$ are apportioned betrween the activiti8$ th8y contrfyjte to on a reasonabl•. justifotle. aThJ consistent basi5. 26 Good Things Foundation Company Llmlted by Guarantae Notes to the Financlal Statements {C4inthu•O Yoar ended 30 June 2023 Accounting policles l¢wJ•nu¢ Operating leases Lease payments are recojnised as an expense over the lease lemi on a $tt4hl-Ine basi$. The aggregate benefit of kase Incenti￿ rec4gnised as a re￿￿tIOn to expense over thg lease term, on a straigm-fine basis. Intangible assets Intar5gible assets are initidty reCr￿ded at cost and are subsequendy sL*d at cost less any 8￿m￿Lated amortisalion and impairment k)sse5. The polw for eapitalising deVèkn￿ent expenditure is speafic and cawtalisalp)n onty wcurs when certain uiieria are mel in¢lLrding that-. Ihe inlangible asset developed is techn*￿lY feasible. will be ava1kgb￿ kn use, ¥nd its use 11 generate fulure ecornmic beneffts Ihere are adequate te¢hnKal. finarKial. and other resources available lo complete the devebpment the expenditure specifi¢ to intangit4e asset during its deveknpment can b8 measured reliab Expenditure Ihal does not meet the above uilwia 15 ex￿nsed as in￿ryed. Amortlsation Amortisaiion 15 cabjlated so as lo write off the c¥st of an assel. 18ss its estimated re￿dUal value. over the useful life of that 85set as lollows.. Devebpment costs 33% stra￿Jh1 kne If Ihere 1$ an Ind￿011￿ that Ihere has been a $w3nify>nt change in am￿￿$atiOn rate. useful Irfg or re$￿Ual value of an intarvJible asset. the amrxtisation is revised prospectwety to relle(* Ihe new estimates. Impaimi•nt olfix•d assets A review for indicators of impaimienl is Car￿ cArt at eath reporbng date, with Ihe rec4JveTable amount bw'ng eslimate¢J Whe￿ su¢h indicators e￿$t ￿ther9 the carrying valu8 exceed5 the re 826.630 ReStr￿ted funds at the bala￿ sheet date relkntlhe funding profiles of major projects and are not actual suwuses carried forward. The company year-end falls in the rniddle of funding peiiods for major projects. hence Ihese arTr)unts are profiled to be spent in b.￿ with the funding arranpmenls whK* gl) beyond the year end. 33 Good Things Foundation Company Limited by Guarantèe Note8 to the Financial Statements (c Year ended 30 June 2023 18. Analy81$ of net assets b•tween funds Unrestricted Resiricted Total Fundy Totsl Funds Funds Funds 30 Jun 23 30 Jun 22 Intangl￿e a$sets Currenl assets Creditors less than 1 year Net assets 173,187 3.987,395 1555.2021 3.605,380 3,830.765 1,198,359 (370.8641 {371.7291 3.460.101 826.630 5,029,124 1742.3931 4.286.731 19. Analys1$ of changes In netdebt Al 1 Jul 22 Cash fl(rws At 30 Jun 23 Cash at bank and in hand 3.802.704 733.C68 4.S35.772 20. Oporn￿n9 lease ¢ommltm*nts Thg lolal future minmnum lease payments un¢*r non-¢ancelIab￿ operating leases 8re as follows.. Grv)up 30 Jun 23 30 Jun 22 C¢mpany 30 Jun 23 30 Jun 22 Nol Laler Ihan 1 year 44,673 41.924 13.506 9.800 Lease payments recDgnised as ￿ expense d￿1Th4 the year amo￿ted lo £65.231 (Period lo 30 June 2022 £74.5701. 21. Relatrd parti DuriThJ Ihe year. an unconthlional donatton of £5C(J,D)O was received into unrestricted funds from Mrs F Perrin, wife ofw J Perrin. former Trustee. Grft aid of25% was also chimed on thi5 donation. The finantsal ststements do indude disdosures of all transactions be￿een the subsidiary. Goc*J Things Foundation Limited. Australia. and tts pareni 8$ the subsith.arls acliviti.es are 100% controlled by Good Things Foundation. 34