's COMPANY REGISTFIATION MUMBER.. DS887661 CHARrrY REGISTftATIOP4 NUMBER.. 1165209 Good Things Foundation Company Limited by Guarantee Consolidated Financial Statements 30 June 2024 UllWWllNIIII *JDV8F58K• 29101r2025 CIYIPANIES HOUSE A11 *149 Good Things Foundation Company Lirnited by Guarantee Financial Statements Year ended 30 June 2024 Pages Trustees, annual report (incorporating the directors, report) 1to16 Independent auditorfs report to the members 17to21 Consolidated statement of financial activities (induding income and expenditure account) 22 Consolidated statement of financial position 23 Company statement of financial posib'on 24 Consolidated statement of cash flows 25 Notes to the financial statements 26to36 Good Things Foundation Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directo￿, Report) Year ended 30 June 2024 The trustees, who are also the directors for the purposes of company law, present their report and the finan¢ial stslements ol the charty for the year ended 30 June 2024. Ref•fen¢e and administrdtiv• delails Registered charity name Good Things Foundation Charity rngistrati¢)n numb•r 1165209 Company regi$tr4tion number 05887661 Principal offi¢* and r•gistered ShovKoom Vlorkst*ion office 15 Paternoster Row Sheffield S128X The tntstees H L Milner E A ￿llIaMS RAGClare N A Wallace Dean N Khan D Bernard J HavPrter VAII T S H4115don H J ¥thelan L O Branch CPBMd Chief Exe¢utsve Chair {ReswJned 31 December 20241 (Resigned 28 November 20241 {Resigned 30 January 20241 Company secrntary A Barlow Auditor Hebblethwaites Chartered accountsnt$ & $tatLrtory auditors 2 WestbroJk Court Sharnow Vale Road Sheifield S11 8YZ Banke The cO￿pera￿'¥e Bank pk Cambrmlge & Counties Bank Limiled Solicitors Slone King LLP Good Things Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) Year ended 30 June 2024 Good Things Foundation is a leading dNJital inclusion charity, w)fking in the UK, Australia and beyond. We want to fix the digital divide - for good. We work. in partnershhp, in crties. lown5. and Gornmunities to help people thrive in a digilal world. Our Aims and Objectives Purposès and Aims Our charity'5 purpose5 as sel out in the obj.ects contsined in the company's Artides of As%Kiation are lor public benefrt and are. To develop the ¢apa¢rty and skAls of the members of the $0¢o1ty *tJ e¢oncthi¢aly disadvantsged communty in such a way that they are better able to ￿entIfy and to help meet their needs and to participate more fvlty in 50Giety". To advance educatson of the public in digital skills and in infofmatKin technology., To promote so¢ial ift¢lu$￿n among thosevtho are exduded from $￿iety and who lack ertherac¢ess to online ser¥ice$ or necessary skills in infomiation technology or ¢Jigital skills," and To advance citizenship by developing the infomiatKsn technology skills of the public so that they are better able to pa￿"¢1pate in sooety as a¢ti¥e and responsible tybzens_ Ensuring our work delivers our aimg We review our aims. oty'ectNes, and actiwties each year. This review looks at vknat we have achieved in the last 12 months. and the benefits this activity has driven for both people and communities. This review also helps us to ensure our aims, objects.ves ant1 activities femain foojsed on our stated purposes. We have referred to the guidance contained in the Chanty Commission'5 general guidance on public benefil when reviewng our aim$ and obJ"ecb"ve5 and in planning our fvture a¢fyvf(ie5. In parbcular, the trustees consider how planned acti￿1￿$ ￿11 contnbute to the aims and objectives they have sel. Our vision is a V•rJrld vknere everyone benefft5 from digital. Vle vrdnt people to be digitally able, equal and sale, so they can be happier. healthier and better off. Whilst this wsitsn and purpose is the same across the UK. Australia and globally. there are some differences in how * aGhieve this and the stralegy we are pursuin9 in each territory. Our Strntegy In the UK The past year has seen much change. both nab"onalty and for the d￿lta1 landscape. 11 ho5 become in¢rea$ingly dear that the digitsl diwde in the UK is deepening and million5 remain digrtalty excluded. The￿ are still 8.5 million people who don't have Ihe basic dytsl ski115 to gel online (Lloyds 8ankiApg Group.. UK Consumer Dwital Index, 2023J, 2.6 million households can't afford their mobile phone Coniracl (Ofcom.. Commun￿81￿￿5 Affordabilty Tracker, 2024) and 1.5 million donl have access to device 15martphone, tablet or laptop) (Lloyds Banking Group.- UK Consumer DJgit81 Index, 2023). Against this ba¢kdrop our UK strategy. launched in April 2022, has a singular mission sthich Is to -Fix the Digitsl Divide in the UK - For Good" through achieving clear goals. By the end of 2025. our ambrtion is to.. Engage 1 million people across the UK. helping them benefit from the digital world., and Growand support 5,000 active digital inclusion l￿bs. across the nat￿n to respond to local needs (this is the National Digital Inclusion Ne￿rk}_ Good Things Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) icontynu¢¢ Year ended 30 June 2024 Our Strategy in the UK (continued) We have three strategic w'nciples that underpin our strategy. These principles explain the core purpose ol our (*93nisalion and how we operate.. Everyone lo have the internet access they need.. Everyone lo have somewhere loc￿ to go for help lo use the intemet". and Everyone lo feel able and safe in the online world. To achieve our mi55ion, have developed a newsocial infra5tructurewhich provides a comprehensive seNi¢e for digitally excluded people. An offer which any local tyganisation - anfftere in the UK- carb use to Fix the Digital Divide in their communiti'es. comprising of.. The National Oata Bank"a food bank. but for mobile conftediwty data.. believed to be the first of its kn'nd globally. It exists to ensure those experiencing data poverty can slay connected with daia donated by VM02. Vodafone and Ttr￿ee., The National Device 8ank. a sustainable approach to provKle free access to refU￿1$hed digital device5, for those who cannot afford to buy their own," and The National Digital Inctusion Network. A neh¥ork which we plan to grow lo 5.000 digital inclusion hubs, where people can go to gain digital ski115 and access the National Data and Dewce Banks. Delwery of our slr*egy requires the developmert and relents.on of stron9 relationships aer05S the not for profft, public and private seclors. with Good Things Foundatron playing a key role in bringing these different stakeholders together. We have been proud to see a surge in commitment from community organisations and tharilies Stepping up to bridge the gap_ We are equally heartened by our collaborations with Ihe private and publi¢ sector, including our strategrc partnerships with Vodafone. VM02, Nominet and Accenture. Over the past year, understanding of the ever evolving nature ofthe dwrtal land5rApe in the UK and our dedication to innovation has seen our products and Ser￿ceS go from strength to strength - making it easier than ever for indNiduals to acces5 5UPPOrt. We are on track to achieve our strategic goals. As at 30 June 2024 we have connected 598.000 indwiduals V*rth support, over halfvRy tawards our tsrget of 1 million by the end of 2025 and the National Digrtal Inclusion NelN40rk has grovm to 5.549 members. exceeding our initial target of 5,000. Our Strategy in Australia This year we launched Good Thing5 Australia'5. 2024-27 Slrategy. that V•ill see us grow our impact for people and communilies a¢ross Au$tralia are digrtally excluded,. lead and influen¢e Australia's digital inclusion agenda,. and partner for purpose, buikding on our strong. collaborative partnerships across the government, corporate, philanthropic and community sectors. Our purpose remains steadfast." to close the digrtal divide. ensumg nI￿ne is left behind. By leveraging partnerships. advocacy. and innovative programs. we aim to bring digrtal indusion to the forefront of Australia's agenda. We w￿1 do Ihis by.. Good Things Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) (¢ortbmrtd) Year ended 30 June 2024 Our Strategy in Australia {continued) Growing Our Impact." We will fotsJs on irwsing the numberof peO￿e and communities across Australia who are digitally induded. By 2027, we aim lo support SW.¢Y)O people direclly with digital skills, train 15,000 new digital mentors, and reach 1 million individuals Our programs will priorilise marginalised groups. induding older people, those with disabililies. First Nations people, and low-income famil￿$. Through grants, learning materials. and innovative initiatives. we will enable local communities lo drive dKJital inclusion al the grassroots level.. Leading and Influencing." Our leadership and adv¢)caey eff￿tS will centre around amplrfying the voices of those who are digitally exduded. We will share their experiences with policymakers, the media. and the broader public lo influence change. As generative Al and other emerging technologies impact sooety. we wll fcKLJS on ensuring Ih8se technologies are accessible lo all. By publishing research. case studies. and impad rep)rts. we will build awareness and encourage action on closing the digilal divide,. Partnering for Purpose.. Strong. collaborative partnerships will be key to our success. We will engage over 4.000 community organisations lo éelwer holistic and impaelful d1gital inclusion programs. By fostering relalK)nships wrth govemmenl. ￿rporate, philanthropic. and community partnefs, we aim lo create sustainable programs that address digital exclusion al its roots. This will include efforts like the esiablishment of a National Device Bank, aimed at providing affordable technology lo those in need.. Organisational Growth and Governanee.. To support our purpose. we will continue lo invest in our people. technology. and govemance. Our focus will be on maintaining high staff engagement, ensuring strong governance practices. and building a cosl*ffeclive. secure technology infrastructure thal supports our operations. We are also committed lo reducing our environmental footprint by inlegraling sustainability into our operations. By 2027. Good Things AUStr￿la envisions a dKJitally indusNe s{￿lety where everyone benefits from technology, ensuring Ihal people who a￿ digitally exduded can participate fully in Ihe doilal world. Our strategy, driven by purpose. collaboralion. and advocacy. positions us as leaders in creating a fairer. more eonnected Australia. Our Strategy Globally Whilst our core focus is helping people in Ihe UK and Australia, we contsnue to evaluate opportunities in other countries where we use our skills and experience to ￿ntrIbUte lo digital equality across the world. Most recently we 5UPPK)rted NGOS in Rornania and PolarKI in their missions to fix the digital divide by working with l¢xal community organisatK)ns and national partners aTKI have made a version of Learn My Way available lo Ihem for local translatK)n and conlexlualisation, wh￿h they continue to use. Google.org supporteé our work in Romani8 and Poland. as well as hdping us lo develop a 'digilal inclusion in a box" sel of assels in a repository for use by international partners. Good Things Foundation Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directors. Report) Year ended 30 June 2024 Achlevements and Perfomiance H¢)w our activiti•s d•liver public benefit All of Good Things Foundabon's Charital￿e activiti'es focus on helping people to be happier. healthier and better off by being digital￿ able. equal and safe. Our mairt a¢b.v￿"eS and the people we have helped are described below. IntheUK For modern Britain, being digilally Gapat4e is of indi$kwtsble imy)rtan¢e. Accessing data and device5, and having the digital skills. safety, mobvation, and confidence to use them has never been as $ignth¢ant. Yei 8.5 million people do not have the digilal basic5 in the UK, and alrnost 2 million households struggle to afford broadban¢J (Good Things Foundat￿." Dwilal inclusion - What the main UK data5els tell us, 2024). In light of digilised seNces such as banking and heath¢a￿. the rise of Gener*ive Artffi¢ial Intelligence I'AI'I and emerging technologies, as well as the continuing cost4)f-livtng, the digital diwde remains acute acr0$5 the nation. Becoming di9rtany capable requires ￿lia￿e, safe and affordabk connectivty - such as mobile data, home broadband, or public WFI (atthough rt is less securel. Currently c.2.6 million households struggle to afford mobile dats. and almost 2 million households slwggle to afford home broadband {Ofcom." CommunKalit)ns Affordabmty Tracker, 2024). Device affordability also remains a baryier for many, with c.1_5 million adulis wthout a smartphone, tablel, or laplop ILkJyds Banking GrDUP. UK ConsumerDigital Index, 20231. People need acce55 to a 5Urtabie devKe lo be digital induded - with suitsbility varying by needs and users. Digital Skills, safety. people's sense of motNab"M an(J ¢c#ffiden¢e to get land stay) online remains 8 pro￿ern of great magnitude. 8.5 million people do not have the Foundation•level essential digital skn'lls needed for lrfe and work in the UK, and 45% of households wth children are reported lo fall below the Minimum Digital Living Standard - defined by members of the public. the MDLS takes into a¢count the skills and knO%￿edge people need to engage online opportunities safely and wrth confidence (Lloyds Banking Group. UK Consumer Dttgilal Index. 2023 & Resea￿ CollaboTrlion.' Minimum O￿lta1 Lwing Standards, 2024). By working with our National Oigital Inclusion Nefv40rk. we see first-hand how hypedocal communty support has a hugety worthwhile role to ￿aY in digrtal indusion. There 15 plenty to be done. and we remain focused on OUT moonshot missiDn to fix the digital divide- for good. We have continued to work hard to increase awareness of digital inclusion. Our adV0￿Y and influencing work has included a series of acb¥￿0.eS to get digrtal Inclusion on the nab.onal agenda. Al the Start of the year published D￿tts1 Nation, an annual graphic prO￿dIng fac15 and 5ts1istscs on digital inclusion and exclusion in the UK. In March 2024 we launched our biggest ever campaign to raise awareness of digrtal ex¢lusion "Oigrtal For All. The multFchannel. national campaign ran for a month, which included people supported by Good Things Foundation featurFng Iheir storie5 on digital screens across the Country, following prorybono support trom JCDecav¥. In the run up to the General Election we issued our manifesto to fix the digital divide and worked all parties to shape their digital inclusion genda. this culrntnating in the Labour Paty pledging support for digrtal inclusion during the electi period. Following Ihe general election in August 2024. we hosted four ioundtables for the Department of Science, Innovation & Technology, convenin9 experts from across the counlry and across sectors th one purp)se". lo feed into the new Government's thinking on digrtal indushjn. Good Things Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors, Report) Year ended 30 June 2024 In th• UK Icontinuedl We understand the s¢ale aftd benefits of equipping people vAth the right tools lo live and wort( in the digital world, a5 do our Sirategic Partners.. Virgin Media 02, Vodafone, Nominet and Accenture who are working with u5 to help fix the digital divide. Our partners support our strategy lo engage 1 million peoF4e, working in partnefship with 5.000 digrtal inclusion hubs to provide people wlh access lo data. devi￿$ and digital skills. All of this is reflecied Jn our operab'onal achtevements and perfomian¢e over the past financial year, oullined fvjrther below. UK National Digital Inclusion N•two Made up ol thousands of community partner5, Ihe Nats"onal D￿rtaI Indusion Netsth Hubs a￿ all working to taC￿e digrtal exclusion. We have demonstrated that a model of local. community-based support is effective for increasing digital inclusion. During the year we have successfulty grown the network wtt) 2.272 new dig+tal inelu5ion hubs being recruiteil_ This tskes the total number of hub5 in the National Digital Inclusion NeNvork to 5.549 at 30 June 2024 {2023'. 3.2771. marking the achievernent of the target we set ourselves for the end of the strategy period (Oecember 20251. Based in communities Digital Inclusion Hubs ar• safe, trusted spaces vthere people Can build ￿nffidenCe in using digrtal through tsilored digrtal support. Staff and volunteers In Hubs offer holistic support, addres&ng not just dwital needs bul also vnder challenges faced by those seeking help. Being part of the National Digital Inclusion Network enable5 Hubs to build their capacity to deliver more digrtal Inclusion support, through grants. training and other resources. Since the slafl of our slr*egy in April 2022 we have provided £5.1m in grants lo Oigital Inclusion Hubs. Includin9 £2.1m in the current year12023". £1.8ml. enabled by our lunders, Google.wg, HMRC. JPMorgan Chase Foundation, London Office of Technology and Innovation. Yorkshire Building Society and our Strategi¢ Partners. We regulorfy bring together Hubs fr(Kn acr055 the country. enabl￿5 Ihem to connect and learn from each other as well as increasing Iheir understanding of the wider digrtal in¢knsion landscape, vAth access to more knovledge. research and fvnding oppOrtun￿e$. Dunng the past year this included providing Digital In¢lusion Hub$ access 10 178 free training. meet-up anil other support Events_ UK National Databank The National Databank VAS launched in Juty 2021 by Good Thing$ Foundats"t)n and Viryin Media 02 and is now a150 SUPPOrted by Vodafone and Three. It is an award wnning initiative (Posilive Impact Award for Technology at the New Statesman Awards and the Be51 Community In￿"atIVe Aword al the CorpComm$ Awards) and the first cross-sedor Gollaborab"on of its kn.rbd In the W￿￿. The National Databank provides free SIMS an(J mobile data las well as talk minutes an*J texts) to people experiencing data poverty and vulnerable people in need. This year we have significanlly grovm the number of Digrtal Int￿siOn Hubs that are tJislNbuting data, V&fiich at the year end exceeded 2.500 locations12023.. 1,2001 and in¢luded *102 and Virgin Money Stores. At 30 June 2024, via these hubs. w￿ had distributed a total of 131.272 data packages to individuals and tsmilies since the commencement of our strategy in April 2022. In the last 12 months we have focused on making it easier for Digital Indusion Hubs lo distritr￿te data by simplifying our processes in this area. and in spring 2024, we successfully trialled a Pop-up Databank carnpaign in the West Midlands that reached more people In one ￿Eek in a targeted locatson than we have ever done before. Good Things Foundation Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directors, Reportl (continue Year ended 30 June 2024 UK National Dwi¢e 8aTrk Good Thing5 Foun¢Jats"on launched the Nab"onal Device Bank in 2022.The National Device Bank securely *ipes and ￿lurbI$heS corporate technology lo donate to those a￿ unable to afford device. During the year*t di$tribule(l a furthef 4.079 devices. inrxeasing the lotsl number of devices distributed to date lo 8,508 to nearly 400 Digital Inclusion Hub$. Donations to the National Device Bank haven't only beneffted people. but the planet loo, the donated devices dIve￿n9 around 100,000 Kg of ev wa51e from landfi115 and prevenb.ng an estimated 8 million tonnes of C02e emi$sions. We have made ygnfficant WO9￿$$ in se¢uring donor organisation's now number 43. in¢luding 14 who have incorporated device donations into their regular tech refresh cydes. Desimte this, demand from Digital Indusion Hubs for phones, tablets and laptops has vastty outpaced supply. The National Device Bank has received donations from businesses. public organisations and local authorities, including City of &asgow Counul, Oeloitte, Ealing Counul, HartlePower, HSBC, IOP Publishing. L¥nGa5hire County Counul. London Borough of Brent. London Borgugh of Islinglon. London Borough of Redbridge, London Metropolitan Police. Liverpool City Region, Microsoft. the National Grid, No Isolabon, Not on the High Street, Ocado Group, Peoples Partnership, Reach Plc, Ready Tech Go, Royal 8orough of Kensingt￿ and Chelsea. RSA Insurance Group, Thames Water, Three, Virgin Media 02, Vodafone, Westem Power DIstnbut￿n. Which? and Wiley. Dlgltal Inclusion & Skills Good Things Foundalicn developed Leam My Way. a free platform for digital learning. Leam My Way helps people to master the basics of intemet access, discover the possibililies of online tools and fesources and gain motivaknon lo continue their digltal leamin9 journey. Delivered in Digital Inclusion Hub$. support is tailored to meet the needs ol Ihose seeking help_ Initsaly launthed in 2011 and revamwd in Swng 2023 a5 Part our current strategy, the plarform has supported ovef 1.7m people to ￿arn new digital skills. induding 98,1 $8 in the Cts￿nt Strategy period (Apnl 2022 to 30 June 20241. We have conts'nued to invest in ￿r leaming and skills offering and in May 2024 we launched a new animated video °IntToduction to Artffiual Intelligence. to address people's fears and misconceptions about Al and encourage them to feel that Al cthjld be a useful lool to 5UPPOrt them everyday tasks. We also launched the video as a new topi¢ on the Leam My Way Flatlofm. Our Strntegic Partne To wrsue our purpose." to fix the di9ital divide - lor good. we need Strategic Partners and in January 2024 we were pleased lo bring our fourth partnef. A￿entUre on board. akjngside Virgin Media 02 {Augv5t 20221, Vodafone (December 20221 and Nc¥ninet (June 2023). Our partners support our strategy to engage 1 million people, to work in partnership V*ilh a larger nehvryk of over 5,000 digital inclusion hubs and to provide people access to data, devices and digital skills. Nol only are our Sirategic Partners providing financial support, they are working wth us collaboratively to fix the digital divth. For example during the year Good Things Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (¢MtinuedJ Year ended 30 June 2024 Our Strntegic Partn•vs (¢ont•nu¢d) Virgin Media 02 who sel up the Nat*)nal Dalabank 7Mth us back in 2021, celetrKated wth us the milestone of hitting 2.500 databank locat]'ons wrthin the UK. This induded all 02 store$ becoming National Databank Hubs in December 2023. and the Virgin Media 02 campaign to raise awareness of available digital in¢lusion support. Vodafone led on the Great British Tech Appeal. to obtain devices for Ihe National Device Bank and through October ta December 2023 they launched a docuseries expknn'ng digital ex¢lusit)n. as part of Ihesr everyone connected program" Nominel supported Ihe Dala Poverty Lab. vthi¢h was fomied to find sustainable solutions lo data poverty. This year VR enlered Phase 3 of the Data Poverty Lab wwk, which is focusing on identifying the most surtsble sc4utions to eradicate data povety and %that needs to happen lo make that a reality. Nominet's finanryal 5UPPOrt Is a150 a key ¢ontribLrtor to our'Fix the Digitsl Divide Grants., a fund prowding cash granls to Digital Indusion Hubs to allow them to $upport digtslly excluded peopk in their communits"es", and Accenture supported us in developing and launching our introduction to Al animation. whi¢h helps address people's fears and misconceptions about Al and encourage them to feel that Al uld be a useful tool to suppiyl Ihem wth every lasks. Other Initialiyes in the UK OUT work wth Gel Online London ronlinued Ihroughc*ut the year and post year end our contrad was renewed for a third year unb"I the end of June 2025. Get Online London 15 our digital inclusion service accelerating activib"e5 50 that we can help mtye Londoners g* online and reduce digital exclusion in London. It is run in partnership and funded by the London Office of Technology and Innovatson ILOTII and the Mayor of London. At 30 June 2024, Get Online London had issued more than 25,000 free data SIMS to people, the London Device Bank. as part of the National Devi¢e Bank, had provided over 2,690 devices, and 9,543 people had leamt digrtal skills through Leam My Way. Thi5 was provided through 936 Digital Inclusi￿ hub5 located across London. Our p3rtner5hip wlh Yorkshire Building Society to boost employabilty through digital skills in 8radford Wa5 renewed into a 4th year. and in February 2024 we were pleased to announce that il had supported over 1,000 people. In Mar¢h 2024 the Minimum Digital ts"¥ing Stsndard {"MLDS' for Households wilh Children was launched. The MLDS 15 a new benchmark for digitsl inclusion at a household level. It is evNlence based." developed through a collaboration led by the University of ￿'VerpOOl. Loughborough University, Good Things Fovndation, and others. wth funding from the Nuffield Found*'on. Nominet, and Welsh Governmmt. In April 2024 we completed the delivery of our Power Up programme, funded by JPMorgan Chase Foundabon, which aimed to drive economic inclusion through digital communities - powering up people. provision, and places. The program sUPPOrted over 1.900 people who were VUlnera￿e or livin9 in challenging ¢ir¢umstances, including those are homeles5, have a disability or impaimienl or are affected by other reaming bamefs. The program showed posrttve changes in people's Lligital skills, access lo devices and dala and employability. Around nine in ten people 191 pei cenll highlKJhted positive changes in at least one aspect of digital inclusion {skills, device and datal, 83 per cent of people corTTmented on improvement5 to their digital skims and rn(￿e Ihan Ihree quarters ol participants said Ihey Good Things Foundation Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directors, Report) l¢on*n¥erf) Year ended 30 June 2024 Other Initiativès in the UK Icontinu•dl now have a 5Ultable dewce and enough data 10 5UPPOrt their digital needs. 70 percent of people esther applied for a job. secured an inteThiew or gained employment since tsking part in the pro9ramme and importantly, 44 per cent reported mowng into eM￿0Yrnent or improving th￿1 employment situation. Funded by the West Mdands Combired AuthLYity. we ran a pilot to trial popup datsbanks to increase free data activation uptske in the West Midlands, vra the National Databank. 380 people received 5UPPOrt wth free data through 12 pop up events over a week long period. The events were hekJ across 3 local authority areas in a variety of venues induding GP surgeries, s¢hools, food banks. libraries and place5 of worship. We remain part of the NHS'S Hea￿h & Wellbeing Alliance and throughout the year we have delivered proiecls on ac¢essbilty guidance and designing digital services, the need5 of those vnth prole¢led characteristics in mind, and sUPPOrted marry other VCSE ￿gan￿tions on their own digital projects. Following successful completion of an initial 3 years, our partnership ￿t￿ HMRC to deliver benefits advice, alongside 5UPPOrt for developing basic digital ski115, was rene*td for a further 3 year period to 2027. The program has helped support people undertake over 6.500 customer inleroctions v￿h the HMRC. In Wales we continued to work in partnership wrth Cwmpas and the Wales Govemment, to grow the National Digital Inclusion Ne￿Ork in Wales and to deliver Learn My Way learning content in the We15h language as well as in English. The Welsh Government has taken up our collaborative work on a Minimum Digital Living Standard and are looking to implement this as a target for people in Wales. In Scotland we work dosety SCVO (the Scottj'sh Council for Voluntary Organisabonsl and the Scottish Govemmenl to ensure that peO￿e in Scolland can have access to and benefit from our services, which was reaffimed thi5 Summer as we renewed our pledge to &olland Digital Inclusion Charter. In Australia A major highlight of the year was the extension of the Australian Govemment's $42m Be Connected digital skills program through to 2028. wth Good Things reappointed to manage the mu￿.￿mIllion dollar grant program. The prDJram will support our incredible nelwork of more than 4,000 community organisations and wll enable hundreds of thousands more Australians to t)uild their d￿lta1 skills and confidence ovef the coming years. During the ffinancial year. the Be Connected program 5UPPOrted 50,527 people, and enabled u5 to distribute over $4_4m in grants to community partner5 acr05S programs. This included the Capacty Building progfam lo train digital mentors as well a5 Oigilal Oevices grants to create device loan libraries in lo￿1 communities. The innovab.ve th"grtal siste￿ prograrn. empowerrrMJ mrgranl and refvgee women to build digrtal skills and social connections. was extended to include a brand new Al literacy initiative thanks to the SUFPOrt of lunding partners Microsoft and Telstra. The program supported 1,697 people during the year. Our 8ridge Program for supporting people intellectual disabih.ty lo leam digital skills was extended 1913 people supported), our LIFE Inrtlative ensurin9 low income families have the essential digital skills and access they need continued, and our work to build Digital Communities. connecting local organisations who create holist￿. communrty-w digitsl skills solutions was expanded. Good Things Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors. Report) {¢oftthu¢ Year ended 30 June 2024 In Australia Icontinued) A productive partnership wth Down Syndrome Australia continued, additional cfrdesigned digital skills leaming resources released that were taiknred to young people with intellectual disability and their support netwo￿$. Resource$ and supp¢yt We￿ particularty fo¢used on staying safer online lo meet the needs of this community. The oryanisats"on's annual digital indusion campaign. Gel Online Week. reached 23.000 people wth digital skills support and 56.8m through our media campaign. Thank$ to the support of Principal Supporting Partner Telstra, Financial IndusKJn Partner Bendigo Bank, Accessibility Partner Guide Dogs NSWIACI and small grant funding made aVaila￿e through the Be Connecled program, 1,300 communty events were held in metro, regional and wral Australia to empower people to get t)nline. Once again. 100°A of event holders said that Gel Online Week benefrts their community and 92% of event attendees wanted to keep learning digrtal skills thank5 to Gel Online Week. Financial Review Principal Funding Sources The majority of our UK funding this year ¢ame from Ihe private sector, %Mth the primary source our Strategic Partners Virgin Media 02. Vodafone. Nominet and AcCen￿re. Any funding received from our $trategic partners that remained unspent at the year end 1$ ￿p)rted wihin our designated re$er¥es at 30 June 2024. We also received funding from a number of other private organisations and charitable tnJst5 including.. Yorkshire Building Society, JP Moryan Chase Foundation, Nuffield Foundatson, Okta and the CTrOp. l&Whilst no longer the dominant souree. Government funding conts.nued to be important with funding provided by the following local and central Government enmies in the penod" His Majesty's Revenue and Cuslofns {HhlRCI. West Miclland5 Combined Authority. National Heatth Service INHSI. the London Office of Technolo9y and Innovabon {LOTI). Teesside Uni¥ersrty, arbd the Welsh Government. Our principal funder In Australia Is the Australian Govemment through the Department for Social Services IDSSI. We also received income from the Queensland Stste Libfary. Microsoft, auOA Foundation, Guide Dogs Australia, Telstra arKI Bendigo 8ank. Financial Review of the year In the year ended 30 June 2024. the Group generated lotal income of £8.9rn {2023." £9.7ml, had total expenditure of £10.1m 12023.. £9.Oml. resulting in net expenditure of £1.2m for the period12023' net income ol £0.7rn1. The reduction in Group income of £0.8m is attributatle to our UK entity. whose inGome decreased by £1. 1 m, renecb.ng the fransrtion away from restricted project based funding to strategic partner led funding. In the UK re51n.cted proied income for the period was £1.4m, £1.9m lower than 2023. This was partially offset by an Increase in funding received from our Strategic Partners, which grew by £1.3m to £3.2m, rellecting a lull year of l￿ding from Nominet the bringing on of Accenture our fourth Strategic Partner. 10 Good Things Foundation Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directors. Report) IconiThedJ Year ended 30 June 2024 Financial R¢viow of the year Icontinu•d) Over*1 ovr expendrture increased by £1.1 m compared lo the prior period, wth the bl￿e$l driver of this being an in¢rease In grant payments. vthich totallet1 £4.8m, £0.6m hwher than 2023. Grant payments to the Digital Inclusion Neh￿rk are 5ts11 the biggest component of our costs at 48°A of total expenditure. Staffing and HR costs were £3.6m (2023 £3.4ml, tmth the rise refiecty.ng both an investrnenl in headcounl and infialionary increases_ The nel expendilure 01 £1.2rn COM￿"$e5 nel outnows of unrestricted funds of £0.4m and £0.8m of restricted funds. Our unrestricted income includes amounts we ￿CeiVed in Ihe period from our strategic partners plus any olher unrestricted donations and grants. The net oufflow of unrestricted funds of £0.4m, primarily reflects the Investment ol a one-off unrestricted donatr.on of £625.000 received in the prior year. in a var5Èty tsf aclivthes which underp+n delivery of strategy. Our unrestridÈd reserves are split Into general and designated. Funds received from our Strategic Partners are committed lo funding the delivery of our current strategy betweell n¢)w an¢J Oe¢ember 2025. as such they are reported as designate(I reseryes in the statement offinancial position. As at 30 June 2024 we had designated reserves of £1.1m 12023.. £1.Oml. Ovr general unrestricted reseryes represent free reserves that are available for us to Spend on any Ihat S¥PPQrts our charrtable objecty.ves and delrvery of our 5tralegy. Any exce55 amount above the reserves that we need to set aside to rnanage risk. wll be invested in our charitable objectives. As of 30 June 2024, the Group is carrying forward free or general unrestricted reserve5 of £1.9m12023." E2.5m). Of this total. £1.6m 12023" £2. 1 ml relate5 lo the UK Charity and £0.3m 12023" £0.4ml relates lo the Australian chanty. Reslricled lunds have lo be utilised on the projec15 agreed the fvnders who granted or don*ed these funds. Many of Ihe wojects undertaken span more than one financial accounbng year. In such cases. any restricted funds received in the UK thanty that have not been lully used in the year on the projects that they fund. musl be ¢4rried forward to be experbded in ftrture years. Thus, the net oufflow of restricted funds for the year is not a deficrt but a bming difference betsween ¥then we receive restricted nds for a project and when we carry out that project. Al the end of the year, we are carrying forward tts.1 m12023." £0_8ml of restricted funds to be utili5ed ￿ luture years on the relevant projects. These restricted fijnds relate to the UK charty only. Cash and rash equivalents %Yere £3.8m al 30 June 2024. a decrease of £0.7m versus the prior year130 June 2023.. £4.Sml. The decrease in cash is a result of the aforemenlioned net oufflow of unrestr￿led and restricled funds during the year. In¥e$tment policy Aside from retaining a wudent amount in reserves each year lo cover risks and provide for working apilal, the ¢hanty's funds are io be spent in the short term as set Olfyt in our funding contracts, $0 there are no lunds for long tem Investment. Any lunding received In advance is invested in erfher an instant access or a 9￿aY deposit account depending on our cash flow requirements. Good Things Foundation Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) Year ended 30 June 2024 Group Reseryes poli¢y G¢xNg Thing$ Foundation's reseNe$ pdicy focLtses on the level of free reseNes. Free reserves exdude restricted fund5 and designated fvnds. Our UK and Australian entib.es have independeni reserve5 policies sel by their local management teams and 8oard of Tnjstees l Dirertors. which combine to form the Group's reserve policy. The recommended free reserves level is calculated annually in advance of the budget process. by each charity based on the specific risks and ¢Jpportunits"es facing Good Things Foundation in each of these territories. The levd of free reserves is monitored on an ongoing basis. Wlh the poliC￿S reviewed annually by Good Thin9s Foundatson's Group and ￿ntry Boards. Good Thing$ Foundats'on seeks to maintain free. unrestricted reserve5 lo manage the ri$ks to which we ale expose¢J in the course of our business, including but not limrted to mitigabng uncertainties in our fvnding and eamed income. in our core operatsng countrie5 of the UK and Australia. The re5erve$ are also needed to meet the working capital requirements of the charity vthich a￿ becoming a higher risk for u5 as we conts.nue to diverstfy our funding streams, induding Into attracting unrestricted donations, and the longer term expendrture commitments we are making, ari&ng trom tsjr strategic partnerships and delivery of our current three year strategy. Any surplus on free reserves above the amount we need 11 be invested in our ¢haritable thJ'ects"ves. Group Reserves Situation The Board has decided that in order to meet these needs. and to operate effects"vety, Good Things Foundation needs unrestn¢tefJ general Group reserves of be￿￿n £1.3m and £2.Sm1£1.2m to £2.2m the UK and £0.1m to £0.3rn in Australia) based on the current analysis of risk. Currently our total unrestricted reseT¥e5 are vthin Ihis range. Plans for future periods In the coming year, we will C￿tsnue to deliver acbvity that helps us to fix Ihe digital divide in both the UK and Australia. In the UK. our core focus over Ihe next 12 monlhs IMII be to conbrMJe to serv￿, run and invest in the National Digital Inclusion Nefv￿rk. ihe Nats"onal Daiabank and National Device Bank. lo provide free acce55 to the digital WOTld for those currenuy exduded due to affordability or a lack of 5kill5. We plan to test new and innovative approaches to increase and grow our impact and the nurnber of people we help, through. Iocu5ing on increasing awareness of Good Things Foundation and the National 019ltal Inclusion Netsvork so digitally exduded peO￿e can be signposted to Ihe support they need. We plan to develop new relevanl content forour Leam My Way Plattorm and cther digitsl learning malerials. increase the number of mobile Connectivity SIMS provided to beneficiaries and the ease at which they can obtsin these and grow the number of corporate and public sector device donors to increase the volume of refurbished devices distributed by the National Devi¢e 8ank to digrtal inclusion hvb$. A strong Nabonal Digital Inclusion Nets¥oth is cribcal to us meeting our goal of engaging 1 millKJn peoFle across the UK by the end of 2025. helping them beneft from the digital wodd. We will look to grow both the number of digrt31 indusion hubs in this nets¥ork. but a150 inuease the proports.on of hub5 within pn"ority areas We w411 do this by providing SlJPPOrt via finan¢ial grants, ac¢e55 lo training and digital inclusion resources and ensLwing their voices can be heard. 12 Good Things Foundation Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directors. Report) (coTrlwwEd) Year ended 30 June 2024 Plans for future period5 (continued) Delivering our 51rategy through to the end of 2025 and more broadly fixing the digital divide in the UK vill require ¢ollaborntion and working in pathership across the communty 5edor. local and national government levels and privale enterprise. Building on the advocacy work we undertook in the Tun up and after the gentral elethon. we plan to lead in the creatson of partnerships wth both. ¢entral government departments and regional comtx'ned and local authorities. lo accelerate fixing the digrtal divide. Our fundraising efforts wll concentrate on both recru￿"n9 aLILlrtional Strategic Partners, but 3J50 progfamme based funding %there it is closely aligned to helping us ￿a¢h our strategit ambitions and we V￿11 continue to puryje and advocate f￿ central Government Funding and investment in digital Inclu￿On. As a￿ays. we will be infwmed by research and insigh( and focused on delivering acb.vty Ihat meets the need5 Of both IJUf ¢ommunity network and those 5UPPOrt. and y￿ WN cOnt￿b￿e 10 5h¢)w¢ase the benefits of research and evaluation. In Australia, ￿ wll continue to advocate for on90ing supwt of successful. dNJital skills programs and practical new inity"atives that tsckle ability. access and affordability across all communities and age groups. We will also continue to support our netwofk of community or9anisab.ons and digitsl mentors to deliver high quality digital skills support Ihrough programs like Be Connected and Oigital Sisters, the Get line Week ¢ampaign, Go(Ml Things LeamiTh3 pktfomi and exciting new projects. arnpaigning to fix the digital dNide for good wll remain a core part of our work as we wll conttnue to advoca(e for both our commuryty partners and for d￿ltalty exclLsded people, in both the UK and Australia, and beyond. We will continve to be ambrtious about our impacl lo ensure that everyorie can thrive tn a digital W￿d. Structure. Governance and Management Goveming Document and oryanisalional stNctu In the UK. Good Things Foundation's goveming document is rts frlernorandum and Articles of Assoaatson which established the obj'ects of the charstable company and is govemed under its Articles of Association. We are a charitsble company limited by guaranlee Set up on mutual principles. wrth three slaff members elected to sit on our Board. together with our Grovp Chief Executive. We were incorporated on 26 July 2006. and we began trading on l Decembw 2011. On 19 January 2016. Good Things Foundation berame a registered ¢harty," one of the first ¢haritie$ in the UK to retain Its mutual founding principles. after approval frorn the Charities Commission. Thi5 was a major achievement for the organisation and has helped to ensure that we remain grounded in the netrds of those we support as we have grown our impact All staff of the UK Charity who have been In post for at least Six months can become members of the company, logether ￿ the external non-executNe directors. In the event of Ihe company being wound up, members are fequired to contribirte £1 toward the settlement of any company debts. 13 Good Things Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors, Report) {ttsnthuedJ Year ended 30 June 2024 Governing Document and organi5at•onal 5tNctuve (continued) In April 2017, we established Good Th'ngs Foundation Ltd. a charity in Austraha. of whom Good Things Foundation is the sole Member. This help5 us lo deliver our Miss￿n. export know-how. and reach more people. We run the ￿ charities as a Group. wth both chants.es sharing the same objects and working osety togetherto ensure success. A scheme of delegation 15 in place and day lo day responsibilty for the provision of the UK services Tests wth the Group Chief Executive and the UK Senior Management Team. Through the Group Chief Executive, the Group Board is responsible for ensuring that the Group is su¢ce55ful and kgal, and that, in the UK. the charty delivers rt5 three-year strategy and the key wformanGe Indi￿lor5 are met. In Australia. the Chair of the 8oard and the CEO fof Good Things Foundation Australia have delegated responsibility for ihe leadership and operations of the charty In Australia, as well as for compliance with Australian law5 and good GovemartGe_ A clear s¢hedule of delega￿d responsibb15ts.es sets out the relative accountabilities to the respectNe Boards and Officers. In ortober 2019. we began ￿ular bi-annual meetings ol a Joint Committee formed ol TrusteeslDirectors from the GrouplUK and Australian 8oards. It is at thi5 Committee thal we apwove Group level strategies and plan5, as V•EII a5 consider the Grouplevel risks. Re¢ruitrnent and training of T￿￿te¢S The directors of Good Things Foundation in the UK are also charity trustees for the purpose of charity law. Under the requwements ofthe Articles of Associabon, the directors are eleded 10 Serve for a period of three years after vthich Ihey ¢an stsnd for re-ele¢bon at the next Annual General Meeting. Our Board of D1￿clOT$ in the UK umsists ￿ elecied and appointed dire¢tors. The ele¢te¢J directors consist of three staff directors dected by our staff. The appointed d1￿ctorS, which must be al least four nd up to ten in total. are appointed to fill relevant s￿lIS gaps on our Board via open advertisement and, where appropriate. by using a recruitrnent agency wrth expen.ence Mi re¢rui¢ing charity trustees. The Group Chief Executive is appointed onto the Board for the tefm of Iheir employn*nl as Gioup CEO at Gcod Things Foundabon. Trustees are provided with a buddy from the existing Board and given the opprytunity to attend events and wsrt projects to increase their under5tsnding of what y￿ do. We tsil¢r indu¢bon to meet their needs - this can indude shadwng senior staff or bn"efing sessions with teams across the organisation. Duiing the year we said goodbye to Chad Bond who resigned as a trustee in January 2024. following 6 years on our Board. Post year end Hannah lthelan and Louise Branch also left the 8oard followng the end of their tenu￿9 as staff trustees. We are extremely gratefvl and thankftil for the significant conlribulions which Chad, Hannah and Louise made to Good Thjngs Foundation during their time as trustees. We will hold staff elections to maint￿￿ staff-elected trustees on the Board_ R•sk manag8mgnl A Group Risk Register has been produced and 15 updated and reviewed at each Board meeting in the UK and Australia. and the 8oards' Joint Comrnittee. Systems an¢J procedure5 are e5tabli5hed 1¢ mitigate the risks the charib'e$ fa¢e. Procedures are in place to ensure the hearth and safety of staff and visitors to our premises. 14 Good Things Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directors, Report) (¢Mtinue¢J Year ended 30 June 2024 The principal risks and uncertaintie5 facing the company The inllab"onary pressure seen in the UK and Australia throughout 2023. peaking at over 10% has now abated and kjth Inflation and Inte￿51 rale5 have fallen over the past 12 month5. Inflatson 15 forecast to be bets¥een 1.5% to 3.0% in both lerritories over the short to medium temi, reducing the risk around increasing operating costs. Deswte this. global econom￿ gro%vth forecasts remain low. The fiscal ptssititsn of many governments of advanced economies remain under wessure. wth h1gher PLJblic debt in partdue to the pandemic and higher interest costs. impacting their ability io grow. This pi¢turÈ is btsme out in the UK. and vthl1st￿ are pleased the new Government has signalled a commitment to addressing the challenges of digital exclusion. we are doubtfLJI there will be significant addth.onal funding for digital indusion initiatives in the short tem). Against this backdrop securing funding over the medium to longer temi is a rtsk. I￿1r Australian enb.ty is somewhat insulated ￿th funding secured until June 2028 for its flagship Be Connected program from the Australian Government. In Ihe UK our strategy to diversify our funding. so we are less reliant on government funding h35 been surce55fv1. ￿ our 4 strategic partners providing the majority of our fvnding this year, however addilional funding is slill ￿qUired for the current strategy. Ajlhough our profile is very high and digital inclusion is seen as signthcant, we need to contsnue lo work hard and Smart on bringing in new funding partners. both from the pnvale and public sector. To this end we have appointed a Busines5 Development Director, to provide additional income generabon skills and resource. We will also ¢onlintJe to a¢Jvocate for Govemment investrnent into digitsl indusion. our work during and post the General Election meaning ¥￿ are well posth"one(I with members of the new Cabinel and wth Ministers In DSIT (the Department of Science. Innovation, and Technology). to put the case Yor funding in this area as part of their three year spending review in Spring 2025. INhilst we are on track to meet our UK strategic ambib.on of engaging 1 million people by 2025. achieving this Is reliant on the Nabonal Di9ltal Inclusion Nelwork usin9 OLtr services lo help people in their cornmunilies, particulady Learn My Way. our free plaffonn for digital learning and distnbuting data from the National Databank. There is a risk that the uptske of our 5ervirx5 15 lower than forecast, meaning we don't hit our strategic arnbit￿n by December 2025. To mibgate thi5 risk, we have invested in both our systems and insight to understand and remove bamer5 hubs may face wth Learn My Way and distributing SIMS. We will continue to increase OUT promotional actsvrty creating new and physlcal assets to better signpost our serwces to benefiuaries and we *ill explore innovative and new ways to enable enefiGiaries lo a¢¢ess Learn My Way building on Ihe Kwrk we have done thi5 year with Al, the National Databank and the Nalional Device Bank. To meet forecast demand for refvrbished devices between now and December 2025, the National Device Bank need5 In excess of 100,000 donated devices. Despite investment in aVra￿ne$S campaigns and a number or actsvities focusing on boosting de¥￿eS donations, to date we have been unable to secure donations of this level and there is a risk that we tsil to secure suffiaent device donations, resulting in an inabilty to scale the National Demce Bank and pro￿￿¢ benefiaaries with access to devices throughout the UK. To mits"9ate this have been working hard to encourage donations directly from the Govemrnenl and we are close to signing up a major Government department as a device donor. and hopefvl thi$ acts a5 a cataty511o en¢oufage others over Ihe rbext 12 months. We have a150 commen¢ed trials wlh third party $pe¢wlisls to generate de￿￿e donation lead5 wlh large corporate employers, and we wll conbnue to run awareness campaigns that bring together existing donors and new prospects. to break down some of the ba￿leT3 to device donation. Ile working internationally prowdes us wth great opportunitses to make a Worldwde impact and lo raise income. this is by natu￿ riskier than working in the UK. We have developed and maintained risk register$ for each majoi project. High risk items are es¢alated to the Group Risk Register when needed. 15 . Good Things Foundation Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (¢onthu•d) Year ended 30 June 2024 Trust••s' r•sponsibililies statem•nt The trustees, who a￿ also dire¢tors for the purposes of ¢¢mpany law. a￿ responsible for preparing Ihe Injstees, report and the financial statements in accordance applicable law and Unf(ed Kingdom Accounting Standards Iuniled Kingdom Generalty Accepted Accounting Practice). Company law reQUi￿S the charty trustees to Fxepare ffinancial statements for each year Ithich give a true and lair view ol the state of affairs of the charitable company and the incoming resources and application of resources, Including Ihe irume and expendrture. for that penod. In preparing these financial statements. the trustees are required to.. select suitable accounting pL4icies and then apFty them con515tenUy', observe the methods and prinriples in the appli¢able chanb.es SORP". make judgments and accounting estimates that are reasonable and prudent.. state whelher applicable UK Accounting Standards have been follcmed. subject to any material departures disdosed and explained in the finan¢ial statements." and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will Gonlinue in tsJ3inesS. The trustees are responsible for keeping adequate accounting recC￿￿S that are sufficient lo show and explain the ¢harty's transa¢tions and disc105e wrth reasonabbe accuracy at any time the financial position ol the charity and enable them to ensure that the finan¢*al $tatement$ comply wilh the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable slep$ for the prevenb.on and detects.on of frau¢J and other irregularib"e5. Auditor Each of the persons v*ho is a tnjstee al the date of appro¥al of this rerrt ￿nfimiS that.. 50 far a5 they are aware, there is no relevant audit information of which the tharity'5 audrtor is unaware". and they have taken all steps that they ought to have taken as a trustee to make themselves awa￿ of any relevant audrt informab.ffi and to establish thatthe charity's auditor is aware of thal inlormalion. The auditor is deemed to have been rtrappointed in accordance V•ith section 487 of the Companie5 Act 2006. The trustees. annual report and the strategic report were approved on 15 January 2025 and signed on behalf of the board of trustees by" H L Milner A Bar1￿ Trustee Charity Secretary 16 Good Things Foundation Company Limited by Guarantee Independent Auditorfs Report to the Members of Good Things Foundation Year ended 30 June 2024 Opinion We have audited the financial ststemenls of Good Things Foundation {the 'charity') for the year ended 30 June 2024 which comprise the group consolidaied statement ol fjnanual aCtiV￿.e5 lin¢luding income nd expenditure accounl), the group and the company 5tstements of finan¢ial position, the group statement of cash flows and the related notes, including a summary of signfficant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingolom Accounting Standards, including FRS 102 The Financial Repoffjng Standard applicable in the UK and Republic of Ireland (Unrted Kingdom Generalty A¢¢epted Accounting Practycel_ In our opinion the financial statements.. give a true and fair wewof the state ofthe group and the parent charity's affairs as at 30 June 2024 and of the group's incoming Tesources and applicatson of re￿)UrCeS. including rts income and expendilure. for the year then ended", have been properly prepared in accordance wth United Kingdom Generally Accepted Accounb'ng Prath"ce- have been prepared in accordance tmih the requirements of the Companies Act 2006 and the Chanlies Act 2011. Basis for opinion We ¢ondL5¢1ed our audit in accordance with 1nternats.onal Slandards on Au (Charities SORP IFRS 10211 and the Companies Act 2006. Acceunting policies Basis of preparation The financial slatements have been prepared ￿ the historical cost basis arHI are prepared in Steding, is the furKlional currency of the enbty. Going concern The financial statements have been prepared on a going concem basis. The lunding of the organ15alion 15 generalty agreed annualty for the year 19 30 June_ Funding ha5 been agreed in principal for the followng year and the chanty has adequate reseThes. The Irustees consider that there is no matenal uncertainty about the charty'5 ability to conb"nue. hence they are confident that the going concern basis is appropriate. Consolidation The financial statements consolidate the financial slatemenls of Good Things FourHlation and all of It5 5ub5idiary undertakings. The parent company has applied the exempts'on conlained in section 408 of the Companies Act 2006 and has not ￿sented its indiwdual profit and loss account. Judgements and key souve•s of estimatbon unc•rta•nty The preparation of Ihe finantsal statements requires management lo make judgements. estimales and assumptions thal affe¢t the amounts feported. These estimate$ and judgements are continually reviewed and are based on expenence and other factors, Including expectation5 of future event5 that are believed to be reasonable L￿der the circumstance5. In the opinion of the management and Iru$tee$, there are no judgemenls or key sources of estimation uncertainty that have a signfficant impact on the finanual statements, other than those highlighted below. Income tax The charity is exempt frorn tax on income and gains. falling Nwthin part 11 of the co￿oration Tax Act 2010 or section 256 of the Taxab"on of Chargeable Gain5 Act 1992, to the extent that these are applied to its tharrtable objects. No tax charyes have arisen in the year. 26 Good Things Foundation Company Limited by Guarantee Notes to the Financial Ststements Year ended 30 June 2024 Account•ng poli¢i•$ (eQnlknue¢ Fund accounting Unresthcted fvnds are availaNe for use at the dixretion of the trusfres to further ￿Y of the charity's purposes. Designated funds are a portion of unosth.ded funds that the trustees have committed to spending on a specific programme of work or purpose and are reiyxied separately on the face of the statement of financial posity.on and accompanying notes. Restricted funds are subjected to restrrthons on their expenditure declared by the donor or through the terms ofan appeal, and fall into one sutKlasses' ￿Stricted income furNJs or endobvment fund5. There were no endowmenl fvnds during the year. Incoming resources All income is induded in the statement of financial activities when entillemenl has passed lo the charity, it is probable that the economic benefrts asstsuated wrth the transaction VAII flow to the charity and the amount can be fd13￿ measured. The foll￿n9 specific policies are applied to particular categories of income.. In¢ome from don*ions or grants is recognised when there is ewdence of entidement to the grft. receipt Is probable, and its amounl can be measured reliably. in¢cMne from ¢ontra¢ts for the suppty of serlices is recognised with the delivery of the contracted sermce. This is dassified as unrestricted funds unless there is a contractual requirement for it to be spent on a partKular purpose and returned rf unspent, in whch case it may be regarded as ￿stn"tted. In the Australian subsidiary certa"n grants reGeivablE are 5ubj.ed to 5perified fvture ¢onditson$ such that the grants are not re¢ogni5ed until the￿ is reasonable assurance thatthe company wll comply th the conditions. Where grants are received prior to salisfying the revenue recognition crileria, they are included a5 a credrtor ft>r defefreil income_ Resourc•s exp•nded Expenditure is recfy3nised ￿ an a¢¢￿al$ basts as a liability is incur￿. Expenditure indudes any VAT which cannot be fvlly recovered because of partial exempts'on, and is C￿sIfied under headings of the statement of financial activities to wthich it relale5_ txpendrtvre ¢n ¢hanlat4e actiwbes indudes all costs incurred by a charity in undertaking a¢tivities that further ts ¢hantable aims for the benefit of its benefiaaries. including those support costs and costs relabng to the gOvernar￿e of the charty apportboned to charrtable actNities. gran15 payable are FKovided to community organisaD"ons and ¢entres lo deliver grass roots actNity"es. These acb"vrties are key elements of the contracis vAth funders and corporate partners. and include basic dgtal skills support. English language learning and other sessions. 27 Good Things Foundation Company Limited by Guarantee Notes to the Flnancial Statements (¢orfoi¥¢ Year ended 30 June 2024 Accounting policies {thI1￿0? Resour¢es expended l¢ori All costs are allocated to expendrture categories reflecting the use of the ￿sOUrce. Direct eosts attributable to a single activity are allocated directy to that activity. Shared costs are apportioned befvKen the activitie5 they contribute to on a reasonable, jusb"fiable, and consistent basis. 0￿ratIng hases Lease payments are recognised as an expense over the lease term on a 5traight-line basis. The aggregate benefit of lease incentives is recoynised as a reduction to expense over the lease term. on a 5traight-line ba￿5. Tangibl• ass•ts Tangible assets are initialty recorded al c05t and subsequenuy stated at cost less any accumulated depreciation and impairnient losses. Any tangible assets carried at ievalued amounls are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated irnpairmerbt losses. The policy for capitalising fixed assets is that rtems over £1.000 are in￿ded as capital addrtions. Depreciation Oepreciation is calculated so as to ¥mte off the cost or valuation Of an asset, less its estimated residual value, over the useful econom￿ lrfe of that asset as follows.. Office equiwient 33% straight line lrnpairment of fixed •55ets A Teview for indicators of impairn)ent is carried OLrt at each reporting date, ￿1h the ￿cOVerable amount being estimated where such indicator5 exist. Where the carying value exceeds the coverable amount, the a55et 15 impaired accordingly. Prior Impairments are reviewed for p055ible reversal at each repor￿n9 dale. Flnan¢ial Instrumonts Financial instruments a￿ classified and accounted for, according to the substance of the conlradual arrangement, as either )Thnancial assets. financial liabilities, or equity instruments. Any equty inslrument is any contract that evKlences a residual interest in the assets ol the Gompany after deductrng all of rts liabilth'es. Basic financial inslruments are initially recognised at the amount receivable or payable including any related trar15¥th'on costs. Current a5se15 and current liabil￿eS are subsequently measured al the rA5h or alher ¢onsideralion expected to be paid or re¢ei¥ed and are not discounted. FinanGial assets that are measured al ¢osl or ¥mo￿5ed cosl are reviEwed for objedive e￿dence of impaimient al Ihe end of eath rep¢￿'A9 date. The exposure to pnce risk, credit risk, liquidty risk and cash Ilow risk is not considered material for the assessment of the assets, liabilities, financtal posib.on and income or expenditure of the charrty. 28 Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements {¢ori Year ended 30 June 2024 Accounting policies {contsJueo) F¢feign currencies Foreign cU￿encY transact￿nS. monelary assets and liabilrties denominated in foreign currencies are translaied at the exchange rate ruling at the reporting dale. wth any gains or losses being taken to tr3e ststement of finan¢ial a¢tiwties. Limited by guarant The company is a private company limited by guarantee and consequently does not have share capital. Each of the mernbers is liable to c¢ntribute an amount not exceeding £1 towards the assets of the company in the event of liquidatson. Investment incorne Unre$tricted Total Funds Unrestn'cted Total Fund$ Funds 2024 Fun(15 2023 Bank interest receivable 154.346 IS4,346 82,376 82.378 Othèr income- charitable activities Unresln'cted Funds Restricted Total Funds Funds 2024 Govemment grant$ Other inccKne Grants and contracts- Australi 82.500 3.379.832 214,182 915,556 515,416 3.622,574 998.056 3,895.248 3,836.7S6 3.676.514 5,053.$46 8,730.060 Unrestri¢ted Funds ReSi￿ted Total Funds Funds 2023 Government grants Other income Grants and ¢ontracts- Australia 95,583 2,648,660 218,409 1,973,778 1.351,877 3,312.685 2,069.361 4,000.537 3,531.094 2,962,652 6.638.340 9,600.992 29 Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements (¢oft*ued) Year ended 30 June 2024 Oth# Èxpèndrturt- charltable acli¥iti•s Unrestricted Funds Restricted Total Funds Funds 2024 Grants payable staff and HR costs Neiwork and devdowenl c051$ Establishment c051$ Motor and Iravd costs Office and othef admini5trab.on expenses 1.389.382 1.858,812 736,314 87,278 55,967 139,011 3.450.970 1.779,185 567.514 4.840.352 3,637.997 1.303.828 87,278 55,967 139,011 5,797.669 10,064,433 4,266,764 un￿Stn'cted Funds ReStr￿ted Total Funds Funds 2023 Grants payable Staff and HR costs NetthY)rk and development costs Establishment costs Motor and travel costs Offi¢e and othef administration expenses 638.878 903.293 406.839 69,077 41.549 439,821 3,606.980 2.449.196 446,384 4,245,858 3.352,489 853.223 69.077 41,549 439.821 2,499,457 6,502,560 9.002.017 Office and other administratson expense5 nclude the follcrthng 9o¥emance costs.. 2024 2023 Audit fees Legal and consuhancy fees Board and Governance costs 21.591 7.950 5.971 20,462 4,594 3,748 35.512 28,804 Auditors. remuneration 2024 2023 Audit of parent company Other non-audit semces Audit ol subsi¢Jiary- Saward Dawson Other notFaudit seNces- Saward Dav&Son 12.500 2.470 9,091 1,912 25.973 12,000 3.400 .462 2.908 26,770 30 Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements {coAtiRuedJ Year ended 30 June 2024 Net lexpenditurevincome Net lexpendbture)fincome is ststed after ¢hargingllcreditingl'. 2024 2023 Amortisation of intangible a55ets Depreualim of tsngible fixed a55e15 266,502 2.050 Exchange drfIe￿n¢es recognised in the accounts during the year amounted kn a loss of £463 12023". loss of £26.5071. 10. Staff costs The total staff c05t5 and employee beneffts for the rewjrb.ng period are anatysed as follow5". 2024 2023 Wages and salaries Social secLkrity costs Pension contnbutions 2.989,245 300.121 195,386 2.681.011 269.262 175,808 3.484,752 3.126,081 The average head count of employees during the year was 7612023.. 711. The number of employees ￿thOse ernployee beneffts lexduding employer pension ¢osts and employer natsonal insu¥ance ¢oniribub"ons) exceeded £60.000. are bafided as follows.. 2024 No. 2D23 No. £60,000 to £69,999 £70.000 to £79.999 £80.000 10 £89.999 £90.000 10 £99.999 £100,000 to £109,999 £150,000 to £159,999 £160,000 to £169,999 The amovnt attn"bulaWe to the highest paid director for the year was remuneration of £160,070 12023 £153.4481. and employer pension ¢ontnbub"¢ns of £16.007 {2023." £15,345). Key Management Personnel Key management personnel indude all persons that have atrthority and re5pon5ibilty for planning. directing and ¢ontrolling the acb"¥ib"es ofthe charity. Tht$ in¢ludes the CEO and senior management team, but excludes the staff-ele¢ted tNstees. The total amount of key management personnel benefits (including employer pension contributions and employer national insurance contribution$l received by key management personnel for their 5ervice5 provided to the charity for the year was £1.096.21312023." £853,500). Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements f¢#o1th4ed) Year ended 30 June 2024 11. Trustm remunerntion and •xp•ns•s No remuneration 15 paid lo the Irusteesldirectors for their services as trusleesldirectors. Trustees travel expenses paid during the year amounted lo £2,544 12023". £2.1661 f(¥ 7 {2023.' 7) trustees. As a staff mutual organisation. trustees include siaff members, H L Milner, H J ￿elan. T S Hillsdon and L O Branch. Staff ¢osls an*J expense$ lor the year indude £257.500 12023. £233,066) of remuneration, £25.750 12023.. £23,306) of pension contributsons, £430 {2023'. £8131 of expense5 for 312023.. 2) members of staff are twsteesldireclors. The charty has insuran¢e lo indemnrfy the trustees. other officers and the ¢harity against the consequences of any neglect or default on the part of the trustees, employees and agents. 12. Net incom•l•xp•niliture Jttributsble to member& of the parènt company Gharity The net expendrture dealt wrth in the finanGial statements of the parent company charity was £1,077.12212023". nel income of £462.1601. This comprises net expenditure on unrestncted funds of £332,99912023' net income of £326,380) and net expenditure on restricted funds of £744,123 12023. net income 01 £135,780). Totsl bn¢ome during the year amounted to £5.070,597 12023.. £6.183,3551 and lotal expendilure £6.147.71912023. £5.721,1951. 13. T•ngibl• ass•ts Group and company Equipment Cost At 1 July 2023 A￿d￿'OnS 37,765 At 30 June 2024 37,765 Depreciati¢Jn Al 1 Juty 2023 Charge for the year 2.050 At 30 June 2024 2.050 Carrying amount At 30 June 2024 35,715 At 30 June 20223 32 Good Things Foundation Company Llmited by Guarantee Notes to the Financial Ststements fconirye¢ Year ended 30 June 2024 14. Investments Good Things Foundats'on Limited, a not-for*rofit company limited by guarantee and irKorporated in AusiTah'a, is conlrolled by Good Things Foundation. vknich is the sole member. Good Things Foundation LimÈted wa5 InGorporaled on 4 April 2017 and is regislered wrth the Australian Charilies and Not-lor-profits Commission. The registered offiGe of the company is 223 Liverpool Street. Darfinghwsl, NSW, 2010 and the Australian 8usiness Number (ABNI Is 92618363974. The financial statements for Good Things Foundation Limrted. *thi¢h have been induded ￿￿thin the consolidated financial Statements for Good Things Foundation and translated at the year-end exchange rale. may be surnmarised as_" Stat•m•nt of Profit or Loss and Other Compr•h•nsiv• Incom• 2024 2023 Revenue Expenses 3.875,381 3.551.689 13.981.S441 13,322.067) 1106.1631 229.622 IDeficitllSurplus for the year Statement of Financial Position 2024 2023 Current assets Cash and cash equivalents Trade and olher receivables Prepayments arbd accrued income 845,126 169,770 21.881 907.296 14,715 12.038 Current liabilities Trade and other payables InlerGompany ¢urrent ac¢ount Unearned income 1114.8711 1134,1351 162.7281 147,684) 1535,6811 1395,8281 253.497 356,402 Net Assets IS. Debtors Group Company 2024 2024 2023 2023 Trade debtors Amounts owed by group undertakings Prepayments and accrue(l income VATIGST debtors Other debtors 190.945 395.120 2S.326 62,728 90,338 395. 120 47,684 66,520 112.219 78,558 10.905 8,769 493,352 12.847 8.696 4.960 316.011 187,088 514.284 Amounts owed by group un¢Jertakings are interest free with no fixed fepaymenl terms. 33 Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements fconi Year ended 30 June 2024 16. Creditors: amounts falling due *Tthin year Group Company 2024 2024 2023 2023 Trade creditor5 Accrua15 and deferred income Oeferred income- Australia VATIGST credilors Pension ¢ontnbubons payable Other credrtors 92,532 266,736 535.681 131.318 28.728 402 99,017 192.428 395.828 $4,287 62,832 143,550 72,972 93.298 99.333 28,728 402 45,328 833 833 1.055.397 742.393 334.845 212.431 17. Analysls of charltablo funds Unrestricted funds At Income Expendrture 30 June 2024 At 1 July 2023 General funds Designated lunds 2.486.316 973.785 485,438 11.085,8911 1.885,863 3.345.422 13.180,8731 1.138.334 3,460,101 3,830,860 14,266,764) 3,024,197 Funds received from the charrty'5 Strategic Partners. Virgin Med¢a 02. Vcdafone, Norninet and Accenture, have been segregated from general unrestricted fvnd5 and are reported separately as designated funds. These funds wll be spent during the period beh¥een the year-end date and 31 Oecember 2025 on the delivery of the charity's current slrategy, being to engage 1 million people across the UK. hèlping them to benefft from the d￿alIa1 w0￿d and to support 5.000 active digitsl inclusion hubs in the UK. Restrlettd funds At Income E¥pendrture 30 June 2024 At 1 Juty 2023 Restricted Funds 826.630 5,053.546 (5,797,669) 82.507 Restricted funds at the balance sheet date reflect the lunding profiles of major proiecls and are not actual surpluses carried forward. The company year-end falls in the middle of funding periods for major projects, hence these amounts are profiled to be spent in line wrth the Ivnding arrangements which go beymd the year end. Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements Year ended 30 June 2024 18. Analysis ol net assets bet**en funds Unrestricted Funds Reslricled Total Funds Fund5 2024 Tangible 355et5 Current assets Creditors less than 1 year 35.715 35,715 3,564,196 562, 190 4,126.386 {575,7141 (479,6831 11.OSS,3971 Net assets 3,024,197 82.507 3,106.704 Unfestricted Funds Restricted Funds Total Fund$ 2023 Cu￿ent assets Creditors less than 1 year 3.830.765 1.198,359 1370.6641 (371.729) S.029.124 (742,3931 Net assets 3.460,101 826,630 4,286.731 19. Analysis of changes in net debt At 1 Jul 23 Ca$h fltr4¥S At 30 Jun 24 Cash at bank and in hand 4,535.772 1725.3971 3.810.375 20. Operating ha¥e commitments The total fvture minimum lease payments under non-¢ancellable operab'ng leases are as follows". Group 2024 C¢)mpany 2024 2023 2023 Not later than 1 year 48.777 44,673 17,325 13,506 Lease payments fecognised as an expense during the year amoLJnted lo £74.22912023." £65,231). 21. Related parties The financial statements do r￿t include dw105ures of all transactions be￿￿en the subsidiary, Good Thing5 Foundation ￿rnrted, Australia. an¢J rts parent as the $ubsidiary's acts'vities are 100% controlled by Good Things Foundatson. Ouring the year. Good Things Foundation purchased £1,000 {2023.' £Nill ol polling seThices from Public First, a policy, research, opinion and strategy con5vttancy and prewous ernployer ol our Trustee, Vinous Mi. Good Thing5 Foundab"on received a Significant discount lo the market rate for these seNces. and Vinous did not dI￿¢￿Y benefit finanually Irorn the wr¢hase of these 5er¥ice5. 35 Good Things Foundation Company Limited by Guarantee Notes to the Financial Statements feorfoiuedj Year ended 30 June 2024 21. Relatsd parties Icontinu•d} Ouring the year. Good Things Foundatiort Wdrded cash grants for the delivery of digital inclusion activib.es lo Starting Point Ctsmmunty Leaming Partnership totalling £34.00012023". £19,320 and 15 devi¢esl. Our Trustee. NIc￿a Wallace Dean. is the Programme Lead for the Starting Ptynt Community Learning Partnership in Stockport. which is one of our fijnded Digital Inclusion Hubs. These grants were awarded in our nom)al course of business. wth the applications being submitted, appraised and awarded in line our standard processes. Nicola Wallace Dean was not involved in these specific grant funding decision$. nor is Nicola involved in any grant funding decisions as a Truslee of Good Thing5 Foundation. Ovring the previous year. an uncondilional donatson of £500.000 was receNed into unrestricted funds from Mrs F Peryin, wife of W J Perrin, fonner Trustee. Gift aid of 25% was also daimed on thi5 donation_ Post year end, Good Thing5 Foundatr"on was awarded a researth ¢￿tract with the West uf England Combined Authorty. Good Things Foundation has engaged Cosmic, a Social Enlerprise and leading digital skills prowder in the South West of England as a subcontractor on this project to Ihe value of £4,850. Our Tru51ee. Julie Havther. is also the Chief ExeGuts"ve of Co$mi¢. The contraGI was awarded on a wrnmerrial, am's length basi5. and Julie wll notdirectly benefrt financially from the contracl awarded. 36