2021-12-31-accounts - Nudge Foundation

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Trustees’ Annual Report for the period

From 1[st] January 2021 Period start date To 31[st] December 2021 Period end date

Charity name: Nudge Foundation

Charity registration number: 1168440

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE SUBJECT OF SOCIAL INCLUSION AND COMMUNITY COHESION AND TO PROMOTE SOCIAL INCLUSION FOR THE PUBLIC BENEFIT BY PREVENTING PEOPLE FROM BECOMING SOCIALLY EXCLUDED, RELIEVING THE NEEDS OF THOSE PEOPLE WHO ARE SOCIALLY EXCLUDED AND ASSISTING THEM TO INTEGRATE INTO SOCIETY, AS WELL AS TO PROMOTE RESEARCH FOR THE PUBLIC BENEFIT IN ALL ASPECTS OF THE SUBJECT AND TO PUBLISH THE USEFUL RESULTS
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	To further the aims of the foundation, applications for grants are invited from charitable organisations, and are distributed annually, as funding allows. However as it became clear into the new year of 2021 that the continuing social effects of Corona would mean poor participation in the application process, it was again agreed among the trustees to postpone the March grant application process. This was also the agreement in June since the ongoing negative effects of Corona virus on Nudge Factory Ltd’s profitability, with the company being the main source of income stream for the charity, would mean no additional funds coming to the foundation.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity	Para 1.18	The trustees continue to make decisions while having due regard for the Charity Commission’s guidance on public benefit.

Commission on public benefit

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	To make grant payments in keeping with advancing the mission of the charity, when funds allow.
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38
Other
Achievements and Performance
	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	With there being insufficient funds available to do another two rounds of grants (at £2000 per round), trustees decided it would be preferable to only start the process again when we are in a position to offer two rounds in a year. This would mean that grant recipients/ participants in the application process would perceive a build up of some continuity in the process. Due to there having been a prolonged period with no grants being paid, it will be preferable to advertise any new grant application process several months in advance, to ensure the best participation possible

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41


Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The charity holds liquid assets of £3,626.00 at the end of this reporting period, with no further reportable assets held This is fully reported in the Charity’s financial return.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	As was agreed in the inaugural grant process, reserves are to be held to guard against fluctuations in future receipts or payments to ensure momentum for charitably engaged activities is not lost and remains consistent.
Amount of reserves held	Para 1.22	Reserves are currently held at £3,626
Reasons for holding zero reserves	Para 1.22	n/a
Details of fund materially in deficit	Para 1.24	n/a
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	n/a

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47
Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46
Other

Structure, Governance and Management

Description of charity’s trusts:		No assets held in trust
Type of governing document (trust deed, royal charter)	Para 1.25	Charity Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Charitable Incorporated Organisation (CIO)
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	10. Appointment of charity trustees (1) Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. (2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. [(3) Nominated Trustee[s] (a) NUDGE FACTORY LTD (“the appointing body”) may appoint two charity trustees. (b) Any appointment must be made at a meeting held according to the ordinary practice of the appointing body. (c) Each appointment must be for a term of three years. (d) The appointment will be effective from the later of: (i) the date of the vacancy; and (ii) the date on which the charity trustees or their secretary or clerk are informed of the appointment. (e) The person appointed need not be a member of the appointing body. (f) A trustee appointed by the appointing body has the same duty under clause 9(1) as the other charity trustees

to act in the way he or she decides in good faith would be most likely to further the purposes of the CIO]

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Nudge Foundation
Other name the charity uses	n/a
Registered charity number	1168440
Charity’s principal address	Unit 35 Centrale, Keeley Road, Croydon, CR0 1TF

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Ahzaz Chowdhury	Trustee
	Ben Scully	Treasurer
	Barry Russell	Chair
	Kamlesh Desai	Trustee
	Emma Scully	Secretary
	Mark Watson	Trustee

– Corporate trustees names at the date the report was approved

Director name Ahzaz Chowdhury Emma Scully

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets n/a held in this capacity

Name and objects of the n/a charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for n/a safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date
	Ben Scully	Emma Scully
	Treasurer	Secretary
	10/10/22
	10/10/22

	Nudge Foundation	Nudge Foundation	Nudge Foundation	1168440	CC16a
	For the period from	01/01/2021	To	31/12/2021

Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £	Total funds to the nearest £	Last year to the nearest £
	-	-	-	-	3,626
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
*Sub total*(Gross income for AR)	-	-	-	-	3,626

A2 Asset and investment sales, (see table).
	-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					3,626

		-	-	-	-
	-	-	-	-	-
		-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
**Sub total **	-	-	-	-	-

A4 Asset and investment purchases, (see table)
	-
	-
**Sub total **	-				-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					-

	-				3,626
	-				-
	3,626				-
	3,626				3,626

CCXX R1 accounts (SS)

10/10/2022

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets	Details Details *Total cash funds* (agree balances with receipts and payments account(s)) Details	Unrestricted funds to nearest £ - - - 3,626 OK Unrestricted funds to nearest £ - - - - - - Fund to which asset belongs	Restricted funds to nearest £ - - - - OK Restricted funds to nearest £ - - - - - - Cost (optional)	Endowment funds to nearest £
				-
				-
				-
				-
				OK
				Endowment funds to nearest £
				-
				-
				-
				-
				-
				-
				Current value (optional)
			-	-
			-	-
			-	-
			-	-
			-	-
	Details	Fund to which asset belongs	Cost (optional)	Current value (optional)
			-	-
			-	-
			-	-
			-	-
			-	-
			-	-
			-	-
			-	-
			-	-
	Emma Scully Signature BMScully Details	Fund to which liability relates Amount due (optional) - - - - - Print Name BenScully Emma Scully		When due (optional)






				Date of approval
	BMScully	BenScully		10/10/2022
	Emma Scully	Emma Scully		10/10/2022

CCXX R2 accounts (SS)

10/10/2022