(Jwrfty re£&Ation Nmber iin1991England and Wale51 THE WILL HOUGHTON FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE WILL HOUGHTON FOUNDATION LEGAL AND ADMINisfRATIVE INFORMATION Tru5tee5 S L R Houghton M R Gibson C Martin E C Houghton T F Houghton R W Houghton Charlty number 1171193 605 Albert House 25&260 Old Street London United Kin80)m ECIV9DD Independert examlner Sedulo London Limited Office 605 Albert House 256- 260 Old Street London United Klngdom ECIV 9DD THE WILL HOUGHTON FOUNDATION CONTENTS Trustees, report Independent eXamIr￿r'S re￿rt Ststement of financial activities Balance sheet Notes to the tinancial 5tatsmerrts 6-10 THE WILL HOUGHTON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Tmstees present thelr annual report arKI financlal statements forthe ypar ended 31 March 2025. The trustees who are also d1￿ctOrS of the charity for the purposes of the Companies Act 2LI)6, present their ￿port with the financial statements of the tharty forthe year ended 31 March 2025. The trLStees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Platti￿ applThble to charitie5 preparlng their account5 in attordance with the Financlal Reporting StsrKlard applTrble in the UK and Rewblic of Ireland IFRS 1021. Objertlves and artlvhies The Will Houghton Foundation was created in 2017 to help under prlvlleged young people reach their ￿ntial through sport and education. At the very heart of the foundation 15 the wtsh to k£ep Will's shining spirit alNe while inspiring a new generatlon of young people to be their very best Public benefit With refe￿nce to the duty in sertion 17151 of the Charrtre5 Art 2011. the trustees confirm that they have referred to the Charity Commission's guidance on public benefrt- including 'Public benefrt: the public knefrt requirement IP811' and 'Public benefrt: runnlng a tharty IP821' _ when revlewing the charity's aims and oblectives and in planning Its current and future activities. The achlevements arKJ attivities outlined in thls ￿port demonstrdte the publlc benefit arising from the char￿y'S activltles. Achlevements and perfomian Significont artivitie5 ond oChi￿ements ogoinst objectives Fundraising activities continued apace this year. with our biggest supporter. Mint Velvet, holding the eighth Walf4Will in the summer, the London and Lisbon marathons and London Big Half marathon being run by tsmily and friends, along with the London Triathlon. October saw the nlrrth Ride4Will wlth 105 riders partKipating in a social ride around the roads of North Bucklnghamshire. The main beneflclary of the funds raised by Walk4WIll was OxFord-based S)fea. which provldes a range of educational* pre- employment and post-employment seMce5 to alienated and excluded young people. Our fund5 were used to support a new programme preparing young people for the world of work Become, the charity supporting young people in social care and leaving care was. a￿1n, a benefitiary of funds. This year, they supported a 2&hour helpllne for care leavers in need of advice on finances, housing and education. We also funded the Wlll Mèck£ne5s Trust who worked in conjunction with Weymouth's Officlal test Centre to support three local primary schools and three secondary schools wrth delivery of the Well-being Ptvgramme run throughout the academic year. This builds confKlence and communication ski115 of vulnerable pupils through swimmin& watersports. and team attivities in a safe and suprK)rtlve environment Flnanclal I￿leW The Foundation had an Income of £46,76412024: £110.6541, with costs of £55,762 12024: £121,122) which included grants paid of £53.70012024: £119.0601. At the year end. the charity had Un￿StriCted reserve5 of £91.98412024: £100,982). Reserves policy It is the policy of the Trustees, that unrestricted funds which habe not been designated for a specfftic use should be maintained at a level equivalent to btheen three and six month's expenditu￿. The Trustees, considerthat reserves at this level will ensure that. in the event of a significant drop in fvndin& they will be able to continue the charlty's current activities while onsiderati1￿ is given to ways In which additional funds fnay be Trised. Thls l&el of reserlts has been maintained throughout the year. THE WILL HOUGHTON FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods The trustees continue to look for well-mana8ed charities that mak£ fundamentsl diffe￿nceS In the lives of under privileged voung peop￿. StruLture, zct4ernan¢e and management The Will Houghton Foundation Is constrtuted as a tharitsble Incorporated Or8ani5ation ICIOI. Its 8overning document L8 the foundatSon model constitution. The Trustees who seThEd during ￿ar and up to the date of signature of the fsnanclal 5tatsments were: S L R Houghton M R Gibson C Martin E C Houghton T F Houghton R W Houghton The Trustee5' report was approved by the Board of Tnjstees. RW Houghton Trustee 30-1-2 THE WILL HOUGHTON FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILL HOUGFrroN FOUNDATION I report to the Trustees on my eKamln*ion of the financial statements of The ￿11 Houghton Foundatlon (the charrtyl for the year ended 31 March 2025. Responsibllltles and basls of rewt As the charity trustees of the Trust w)u are resp)n5ible for the preparation of the accounts in accordance with the requirements of the chorities Act 20111'Act'l. I report Sn respett of my examination of the Tru5t'5 accounts carried out under Section 145 of the Art and in carrying out my examination I have followed all appllcable Direttion5 given by the Charity Commlssion undersertion 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no materKal mattefs have come to my attention In connection with the examination giving me caLEse to believe that in arry material respecL accounting record5 were not ￿pt in respect of the Charity as required by Section 130 of the Charities Art 2011. the financial ststements do not accord with those records: or the financial ststements do not comply with the applioble requlrements conceming the form and content of flnancial statements Set OLrt in the Charities (Accounts and Reports) Regulations 2Crf)8 other than any ￿quIrernent that the financial statements give a true and fair vlew. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mattefs in connertion wlth the examlnatlon to whith attentk)n should be drawn In thls report in order to enable a proper understanding of the financial statements to be reached. 54y Emma Houghton FCCA Sedulo London Limited Offlce 605 Albert House 256- 260 Old Street london ECIV 9DD United Kingdom 30 Janu¥ 2026 THE WILL HOUGHTON FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestritt funds 2025 Unrestricted funds 2024 In¢ome frthn: Donations and legacies Investments 44,663 2,101 109,630 1,024 Total Income 46,764 110,654 Expenditure on: Charltable activitie5 55,762 121,122 Total expendlture 55,762 121,122 Net expendlture and m(r•Tment kn fvnds 18,9981 110.468) Re￿n￿lIatIon of funds: Fund balances at l April 2024 ILY),982 111.450 Fund baL7rKes at 31 March 2025 91,984 100,982 The statement of financlal activrties includes all 8ain5 and losses reC￿niSed in the year. Al income and expenditure derfve from continulng activities. THE WILL HOUGHTON FOUNDATION BALANCE SHEET AS AT31 MARCH2025 2025 2024 Current assèts Cash at bank and in hand 93,484 102,482 Credltots: am￿nts fallirKg duewithln one year 11.5(h)I 11.50)) 91,984 100,982 The fund5 of the CIwTity Unrestrlcted funds 91,984 100,982 91.984 100,982 The flnanclal ststements were èpwoved by the Trustees on........ RW Houghton Thistee THE WILL HOUGHTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng polkles Charlty Inft>rmalion The Will Houghton F(MJndatkin Is a Charikble Incoryx)rated Organisation. 1.1 A(¢ountlng conventlon The flnancial 5tstements of the charlty. whKh is a public benefft entty under FRS 102, have been prepared in accordance wlth the Chartties SORP IFRS 102) 'Accountin8 and Reporting by Charltles.. Ststement of Recommended Practice applicable to charlties p￿paring their accounts in accordance with the Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland IFRS 102} leffective l January 20191,. Flnancial Reporting Stsndard 102 'The Flnancial Reporting Standard applitable in the UK and Republlc of Ireknd, and the Charitles Act 2011. The financial Statements have been prepared underthe htstorital c05t conventio The flnanclal statements are prepared In sterlin& which is the functional currency of the Charity. Monetsry amounts In these financial stateff*nts are rounded to the nearest £. 1.2 Goln8 ¢oncern At the time of approvlng the financial Statements and having a due regard to the impact of the economic climate, the Trustee5 hove a reasonable expectstion that the Charity has adequate resources to continue in operational existence for the foreseeable future. Therefore. the Trustees continue to adopt the Going Concern basis of accounting in preparlng the financial statements. 1.3 Charitable funds Unrestricted funds are avallable for use at the discretion of the Trustees In furtherance of their charitsble objectlves. Restrlcted funds are subject to Specific conditions by do￿r$ or grantors as to they may be used. The purposes and uses of the restricted funds are set out in the notes to the financlal statemerrt5. 1.4 Income Income is recogni5ed when the Charmy Is Wlly entrtled to Ft after ary perfomiance conditrons have been met. the amounts can be measured rellably. and it is probable that income will be rece￿*d. Cash donatlons are recognlsed on receipL Other donath)ns are recognised On￿ the Chanty ha5 been notified of the donatlon, unless perfomiance condition5 require deferral of the amounL Income tax recoverable Sn relation to donations received under Gift Aid or deeds Ofc￿nant Is rttognised at the time of the donation. Legacies are ￿(08nISed on receipt or othepwlse rf the Charity has b*n notified (l an Impending distribution, the amount Is known, and recelpt is expected. If the amount is not known. the le8ary is treated as a contingent asset. 1.5 Expenditure Expendtture is recognised once there is a legal or COr￿rUth obllgatlon to trdnsfer economic benefit to a thlrd party, it is probable that a transfer of economlc benefits will be required in settlemert and the amount of the obliwion can be measured rellably. Expendlturels classified by activity. The costs of each activty are made up of the totsl of dirert costs and shared costs, Including support C05ts involved in undertaking each acts￿ty. Oirect tosts attributsble to a single activity are allocated dSrectly to that activity. Shared costs which contribute to more than one activity and sUPPOrt costs which are not attributsble to a single activity are ap￿rt￿ned between tIK)se activities on a basis conslstent with the use of ￿sOUrces. Central staff costs are all￿ted on the basss of time SFenL and depreciatlon charges are allocated on the portion of the asseys use. THE WILL HOUGHTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢t(wntlng polkles (Continued) 1.6 Intsn8ible fwd assets other than wdwill Intsngible assets aCqUi￿d separately from a buslness are recognised at C05t and are subsequently measured at cost less accLFmulated amortisation and accumulated impaimient losse& Development Costs 25% InconR from dOnatIty￿ and lega(ies Unre5trirted funds 2025 Unrestflcted fund5 2024 Donatlons and gifts Donated 8ood5 and services 44,663 108,130 1,500 44.663 109,630 Income from imiestments Unrestr?cted Unrestrfcted funds funds 2025 2024 Interest receivable 2,101 1,024 THE WILL HOUGHTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EhlDED 31 MARCH 2025 Expendlture on dwritable acthiltles Charftsble Ch?rftable expenditu￿ expenditure 2025 2024 Dlrert Costs Grant fvnding of activrties15ee note 51 53,700 119.060 Share of support and 8(¥vern•nce costs (see rM>te 61 Accountsncy fees Bank Charges Depreciation 1.500 562 12,101) 563 2.100 55,762 119,622 Analysis by fund Unrestrlcted tunds 55,762 121,122 Grants payable aritable exwditure 2025 Charltable expenditure 2024 Grants to Instltutions- Will Mackaness Trust Portsmouth Sail Training Tnjst Become Charity SOFEA 9,700 24.060 15,000 70,CKJO 10,000 25,000 19.ODO 53.700 119.060 Supp￿¢ Costs allocated to artmtks 2025 2024 Bank Charges Govemance costs 562 1.500 562 1,500 2.062 2,062 Analy5ed between: Charitsble expendltu 2,062 2,062 THE WILL HOUGHTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 Trnstees None of the Trustees lor ary persons connerted wtth them) reCeI￿d ary rEmunefttion or benefrts from the Charity during the year. Intsrvdlble flxed aswts At l April 2024 and 31 March 2025 Amorti5ation and Im￿lmient At l April 2024 and 31 March 2025 8.400 C•rryln8 am¢)unt At 31 March 2025 At 31 March 2024 Credltors: amounts falllng due vAthln one i*ar 2025 2024 Attruals and deferred Inco 1.51)0 1,500 10 Ufirestrfcted funds The unrestricted funds of the charty comprise the une￿pended balance5 of donations and grants which are not Subject to specific conditions by donor5 and grontors as to how they may be used. These include designated funds which have been set aside out of unrestrtc(ed funils t)y tfE trustees fof speciric purw)ses. At l Aprfl 2024 Incomlng ReS￿r￿ At 31 Marth 2025 General funds IIXl,982 46,764 155.7621 91,984 Previ￿$ year. At i Aprfl 2023 I￿ornIng Resources At 31 March 2024 General lunds 111.450 110.654 1121,1221 I￿,982 THE WILL HOUGHTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Related party trdn5artloAs During the year, a payment of £Nil {2024: £27.258) wa5 re￿i￿ed from sab￿ Retsil FashKJn of whkh E C Houghton is a director. Richard Houghton, who is also a trustee, donated £Nil12024: £16,LIXIi to the charlty. 10-