REGISTERED CHARITY NUMBER: 1174600 

Report of the Trustees and 

Unaudited Financial Statements 

for the Year Ended 30 June 2024 

for 

THE EIGHT FOUNDATION 

Pembroke Briggs Chartered Accountants Beacon House South Road Weybridge Surrey KT13 9DZ 



THE EIGHT FOUNDATION 

Contents of the Financial Statements for the Year Ended 30 June 2024 

||Page|
|---|---|
|Report of the Trustees|1 to 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cash Flow Statement|9|
|Notes to the Cash Flow Statement|10|
|Notes to the Financial Statements|11 to 17|
|Detailed Statement of Financial Activities|18|





**THE EIGHT FOUNDATION** 

## **Report of the Trustees** 

for the Year Ended 30 June 2024 

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 June 2024. 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The trustees have carefully considered the Public Benefit Guidance issued by the Charity Commission and we are satisfied that the charity meets these requirements both in its objects and by furtherance of those objectives in  the  day to day undertaking of its charitable activities. 

## **Significant activities** 

The trustees follow with interest the activities and progress of those organisations which have been provided with funding by the charity. During the year under review the trustees received around 30 applications for grants from UK registered charities and individuals. 

The trustees were satisfied in all cases that the grants made provided a suitable public benefit in accordance with the objects of the charity. 

The charity's objectives are to make grants for charitable purposes to other charities and individuals. These wide ranging objectives enable the charity to make grants to a similarly wide range or recipient charitable organisations throughout the UK. The grants made by the trustees are generally unrestricted as the trustees are particularly aware that for many charities meeting their basic core costs presents a significant challenge. 

During the year under review grants were made to charities concerned with mental health, education, sport, health, poverty and food banks and others generally vulnerable in society. 

The  charity's  costs  are  modest,  comprising  general  administration  and accountancy services. 

## **Grant Making** 

The charity receives applications for funding from other charities and individuals which are discussed at the meetings of trustees. The trustees agree the amount of income available for distribution and on the individual amounts of grants to be paid to successful applicant organisations. 

Page 1 



**THE EIGHT FOUNDATION** 

**Report of the Trustees** for the Year Ended 30 June 

## **ACHIEVEMENT AND PERFORMANCE Winnall Rock School** 

We were able to provide them a grant of £5,000 to fund further opportunities for young people with disabilities, particularly those suffering from their mental health and conditions such as Autism to enjoy music workshops for 2024. Those who benefitted from this funding incluide over 30 young people ages 10-17 who now feel a sense of belonging and purpose, thanks to the Winnall Rock School, and the funding from The Eight Foundation. They are now able to express themselves confidently in a safe environment. 

## Cobey & Caleb 

We are thrilled to have awarded brothers Coby and Caleb a grant to cover the cost of new wheelchair extensions. These extensions will empower them to gain greater independence by allowing them to reach counter heights, shop with ease, and enjoy their beloved arcade games, experiences that would have been impossible without the added height. As they grow older, gaining independence becomes increasingly important, and it's a true privilege for us at The Eight Foundation to support them in enjoying outings that boost both their confidence. 

## **Blooming Arts Charity** 

We were proud to contribute £5,000 to Blooming Arts, an exceptional charity empowering young adults with disabilities to express themselves through the transformative medium of art. This donation directly supported their latest showcase, a pivotal event that not only provided participants with a meaningful goal to work towards but also offered them a vital platform to highlight their remarkable achievements. The impact of this initiative is profound, as it fosters a sense of purpose, boosts confidence, and celebrates the unique talents of individuals who often face barriers to self-expression 

## GDPR 

In order to comply with the new General Data Protection Regulation (GDPR) we started to revise our general privacy policy, and create a new privacy policy to cover the personal information of subscribers, we have also introduced a new social media policy to protect those who we support. Both of these policies are available on our website. 

Page 2 



**THE EIGHT FOUNDATION** 

## **Report of the Trustees** 

for the Year Ended 30 June 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Fundraising** 

We have had huge success with donations and grants from: 

- Staff of Eight Wealth Management via payroll monthly giving 

- Fundraising matching 

- Collection boxes 

- Auctions/Raffles 

- Online virtual events 

- Fundraising events 

- Donations 

- Easy Fundraising 

In pursuit of securing future income the Foundation are looking to develop relationships with cooperation's for sponsorship and to act as patrons. 

We will continue to host an annual fundraising ball and Golf Day. 

We will continue to review our policies and procedures to support the successful operation of the Foundations activities. 

## **FINANCIAL REVIEW** 

## **Financial position** 

During the period to 30 June 2024 the Foundation raised income of £183,539 and incurred total expenses of £166,932, as detailed on page 12 and 13 of the report. At 30 June 2024 the Foundation has reserves of £40,153. 

## **Risk Policy** 

The charity's trustees have given consideration to the major risks to which the charity is exposed  and  have  satisfied  themselves  that  systems  and  procedures  have been established in order to manage these risks. The trustees keep risk levels and controls under review on a bi-annual basis. 

## Reserves policy 

The trustees have approved a reserve policy to ensure that the charity has, at all times, adequate  reserves  to  meet  its  liabilities  to  comply  with  legislative  and accounting requirements. The policy also requires that the trustees can identify and make provisions for future expenditure needs for the proper and continued running of operations. This also includes the initial costs of any planned fundraising activities. The trustees anticipate that £10,000 is sufficient for meeting these objectives. 

The objective of the charity is to issue grants so that the reserves should not exceed the equivalent of the charity's projected income for the following two years 

Page 3 



**THE EIGHT FOUNDATION** 

## **Report of the Trustees** 

for the Year Ended 30 June 

## FUTURE PLANS 

The Trustees will continue to hold quarterly meetings to discuss grant applications, review the  income  and  expenditure  of  the  Foundation  and  the  management  of  the charity generally. In addition, they will review the investment income available for making future grants in accordance with the Foundations objectives. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## **Governing document** 

The Foundation is a registered charity, number 1174600, governed by the trust deed dated 4th July 2017. The foundation was established in July 2017 with a mission to support local charities through grants who need donations in order to survive, and to provide services within their local community. 

The  board  of  trustees  is  composed  of  individuals  with  a  broad  range  of expertise consideFed appropriate to the charity's current requirements. When the recruitment or appointment of new trustees is required and in respect of subsequent induction and training, the Guidelines and Statements of Recommended Practice as set out by the Charity Commission will be followed. 

It is set that at every trustee meeting the charity are to at all times have a minimum of two trustees present. 

## REFERENCE AND ADMINISTRATIVE **DETAILS** Registered **Charity number** 

1174600 

**Principal** address 1460 Parkway Solent Business Park Whiteley Hampshire PO15 7AF 

Trustees I Riggs S Shepherd-Riggs N Clegg (appointed 30.9.23) S Brown (appointed 30.9.23) 

Independent Examiner Pembroke Briggs Chartered Accountants Beacon House South Road Weybridge Surrey KT13 9DZ 

Page 4 



**THE EIGHT FOUNDATION** 

**Report of the Trustees** for the Year Ended 30 June 

Approved by order of the board of trustees on 29 April 2025 and signed on its behalf by: 

I Riggs - Trustee 

Page 5 



Independent Examiner's Report to the Trustees of The Eight Foundation 

Independent examiner's report to the trustees of The Eight Foundation I report to the charity trustees on my examination of the accounts of The Eight Foundation (the Trust) for the year ended 30 June 2024. 

## **Responsibilities and basis of** report 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## Independent examiner's statement 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no  concerns and have  come  across no  other matters in connection  with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

> S lok Briggs by 

Pembroke Briggs Chartered Accountants Beacon House 

South Road Weybridge Surrey KT13 9D 

Date: 29/04/2025 

Page 6 



THE EIGHT FOUNDATION 

Statement of Financial Activities for the Year Ended 30 June 2024 

|||30.6.24|30.6.23|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
|INCOME AND ENDOWMENTS|Notes|gE|£|
|FROM||||
|Donations and legacies|2|79,878|63,786|
|Other trading activities|3|103,661|90,762|
|Total||183,539|154,548|
|EXPENDITURE ON||||
|Raising funds|4|4,457|4,938|
|Charitable activities|5|||
|Grants given||61,016|48,759|
|Support costs||10,907|13,455|
|Other||90,552|88,278|
|Total||166,932|155,430|
|NET INCOME/(EXPENDITURE)||16,607|(882)|
|RECONCILIATION OF FUNDS||||
|Total funds brought forward||23,546|24,428|
|TOTAL FUNDS CARRIED||||
|FORWARD||40,153|23,546|



The notes form part of these financial statements 

Page 7 



THE EIGHT FOUNDATION 

Balance Sheet 30 June 2024 

|||30.6.24|30.6.23|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|||
|FIXED ASSETS||||
|Tangible assets|9|879|1,034|
|CURRENT ASSETS||||
|Debtors|10|9,549|11,485|
|Cash at bank and in hand||31,344|13,904|
|||40,893|25,389|
|CREDITORS||||
|Amounts falling due within one year|11|(1,619)|(2,877)|
|NET CURRENT ASSETS||39,274|22,512|
|TOTAL ASSETS LESS CURRENT||||
|LIABILITIES||40,153|23,546|
|NET ASSETS||40,153|23,546|
|||||
|FUNDS|12|||
|Unrestricted funds||40,153|23,546|
|TOTAL FUNDS||40,153|23,546|



The financial statements were approved by the Board of Trustees and authorised for issue on 29 April 2025 and were signed on its behalf by: 

I Riggs - Trustee 

The notes form part of these financial statements 

Page 8 



THE EIGHT FOUNDATION 

Cash Flow Statement for the Year Ended 30 June 2024 

|||30.6.24|30.6.23|
|---|---|---|---|
||Notes|ba|pd|
|Cash flows from operating activities||||
|Cash generated from operations|1|17,440|5,182|
|Net cash provided by operating activities||17,440|5,182|
|||||
|Change in cash and cash||||
|equivalents in the reporting||||
|period||17,440|5,182|
|Cash and cash equivalents at||||
|the beginning of the reporting||||
|period||13,904|8,722|
|Cash and cash equivalents at||||
|the end of the reporting period||31,344|13,904|



The notes form part of these financial statements 

Page 9 



THE EIGHT FOUNDATION 

Notes to the Cash Flow Statement for the Year Ended 30 June 2024 

## 1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 

|<br>FLOW FROM OPERATING ACTIVITIES||||
|---|---|---|---|
|||30.6.24|30.6.23|
|Net income/(expenditure) for the reporting|period (as|||
|per the Statement of Financial Activities)||16,607|(882)|
|Adjustmentsfor:||||
|Depreciation charges||155|182|
|Decrease in debtors||1,936|6,638|
|Decrease in creditors||(1,258)|(756)|
|Net cash provided by operations||17,440|5,182|
|ANALYSIS OF CHANGES IN NET FUNDS||||
||At 1.7.23|Cash flow|At 30.6.24|
|Net cash||||
|Cash at bank and in hand|13,904|17,440|31,344|
||13,904|17,440|31,344|
|Total|13,904|17,440|31,344|



2. ANALYSIS OF CHANGES IN NET FUNDS 

The notes form part of these financial statements 

Page 10 



THE EIGHT **FOUNDATION** 

**Notes** to the Financial Statements for the Year Ended 30 June 2024 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102,  have  been  prepared  in  accordance  with  the  Charities  SORP  (FRS 102) 'Accounting  and  Reporting  by  Charities:  Statement  of  Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in  the UK and Republic of Ireland (FRS 102) (effective  1  January  2019)',  Financial  Reporting  Standard  102  'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Expenditure 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed** assets 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Fixtures and fittings 15% on cost 

Taxation 

The charity is exempt from tax on its charitable activities. 

## Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

continued 

Page 11 



THE EIGHT FOUNDATION 

Notes to the Financial Statements - continued for the Year Ended 30 June 2024 

## 1. ACCOUNTING POLICIES - continued 

## Pension costs and other post-retirement benefits 

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

|2.<br>DONATIONS AND LEGACIES<br>Donations<br>3.<br>OTHER TRADING ACTIVITIES<br>Fundraising events<br>4.<br>RAISING FUNDS<br>Raising donations and legacies<br>Donations<br>Gifts<br>Other trading activities<br>Purchases<br>Aggregate amounts|30.6.24<br>79,878<br>30.6.24<br>103,661<br>30.6.24<br>905<br>304<br>1,209<br>30.6.24<br>3,248<br>4,457||30.6.23<br>63,786|30.6.23<br>63,786|
|---|---|---|---|---|
||||30.6.23<br>90,762||
||||30.6.23<br>1,715<br>270<br>1,985<br>30.6.23<br>2,953<br>4,938||
|||||4,938|



continued 

Page 12 



THE EIGHT FOUNDATION 

Notes to the Financial Statements - continued for the Year Ended 30 June 2024 

## 5. CHARITABLE ACTIVITIES COSTS 

|Grants given<br>Support costs<br>6.<br>SUPPORT COSTS<br>Grants given<br>Support costs|Direct<br>Costs<br>40,861<br>40,861|Support<br>costs(see<br>note 6)<br>20,155<br>10,907<br>31,062|Totals<br>61,016<br>10,907<br>71,923<br>Other<br>20,155<br>10,907<br>31,062|
|---|---|---|---|



## 7. TRUSTEES' REMUNERATION AND BENEFITS 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 

Trustees' expenses 

No trustees expenses have been incurred. 

## 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 

|INCOME AND ENDOWMENTS FROM<br>Donations and legacies<br>Other trading activities<br>Total<br>EXPENDITURE ON<br>Raising funds<br>Charitable activities<br>Grants given<br>Support costs|Unrestricted<br>fund<br>63,786<br>90,762<br>154,548<br>4,938<br>48,759<br>13,455|
|---|---|



Page 13 

continued.. 



THE EIGHT FOUNDATION 

Notes to the Financial Statements - continued for the Year Ended 30 June 2024 

|8.<br>COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -<br>continued<br>Other<br>Total<br>NET INCOME/(EXPENDITURE)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>TOTAL FUNDS CARRIED<br>FORWARD<br>9.<br>TANGIBLE FIXED ASSETS<br>COST<br>At 1 July 2023 and 30 June 2024<br>DEPRECIATION<br>At 1 July 2023<br>Charge for year<br>At 30 June 2024<br>NET BOOK VALUE<br>At 30 June 2024<br>At 30 June 2023|Unrestricted<br>fund<br>88,278|Unrestricted<br>fund<br>88,278|
|---|---|---|
|||155,430|
|||(882)<br>24,428|
|||23,546|
|||Fixtures<br>and<br>fittings<br>1,780<br>746<br>155<br>901<br>879<br>1,034|



Page 14 

continued 



THE EIGHT FOUNDATION 

Notes to the Financial Statements - continued for the Year Ended 30 June 2024 

|10.<br>DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR<br>30.6.24<br>Trade debtors<br>3,200<br>Other debtors<br>75<br>Prepayments and accrued income<br>6,274<br>9,549<br>11.<br>CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR<br>30.6.24<br>Taxation and social security<br>487<br>Other creditors<br>12.<br>MOVEMENT IN FUNDS<br>Unrestricted funds<br>General fund<br>TOTAL FUNDS<br>1,132<br>1,619<br>Net<br>movement<br>At 1.7.23<br>in funds<br>23,546<br>16,607<br>23,546<br>16,607<br>Net movement in funds, included in the above are as follows:<br>Incoming<br>Resources<br>resources<br>expended<br>Unrestricted funds<br>General fund<br>TOTAL FUNDS<br>183,539<br>(166,932)<br>183,539<br>(166,932)|30.6.23<br>6,439<br>233<br>4,813<br>11,485<br>30.6.23<br>2,877<br>2,877<br>At<br>30.6.24<br>40,153<br>40,153<br>Movement<br>in funds<br>16,607<br>16,607|
|---|---|



Page 15 

continued. 



THE EIGHT FOUNDATION 

Notes to the Financial Statements - continued for the Year Ended 30 June 2024 

## 12. MOVEMENT IN FUNDS - continued 

## Comparatives for movement in funds 

|||Net||
|---|---|---|---|
|||movement|At|
|At 1.7.22||in funds||
|||30.6.23||
|24,428||(882)|23,546|
|24,428||(882)|23,546|
|||||
|he above|are as follows:|||
|Incoming||Resources|Movement|
|resources||expended|in funds|
|154,548||(155,430)|(882)|
|154,548||(155,430)|(882)|



||At 1.7.22|Net<br>movement<br>At<br>in funds<br>30.6.23|
|---|---|---|
|Unrestricted funds<br>General fund<br>TOTAL FUNDS<br>24,428<br>24,428<br>(882)<br>23,546<br>(882)<br>23,546<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>Resources<br>Movement<br>resources<br>expended<br>in funds<br>Unrestricted funds<br>General fund<br>TOTAL FUNDS<br>154,548<br>(155,430)<br>(882)<br>154,548<br>(155,430)<br>(882)<br>A current year 12 months and prior year 12 months combined position is as follows:<br>Net<br>movement<br>At<br>At 1.7.22<br>in funds<br>30.6.24<br>Unrestricted funds<br>General fund<br>24,428<br>15,725<br>40,153<br>TOTAL FUNDS<br>24,428<br>15,725<br>40,153|24,428<br>24,428<br>(882)<br>23,546<br>(882)<br>23,546<br>he above are as follows:<br>Incoming<br>Resources<br>Movement<br>resources<br>expended<br>in funds<br>154,548<br>(155,430)<br>(882)<br>154,548<br>(155,430)<br>(882)||



Page 16 

continued. 



THE EIGHT FOUNDATION 

Notes to the Financial Statements - continued for the Year Ended 30 June 2024 

## 12. MOVEMENT IN FUNDS - continued 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|Unrestricted funds<br>General fund<br>TOTAL FUNDS|Incoming<br>resources<br>338,087<br>338,087|Resources<br>expended<br>(322,362)<br>(322,362)|Movement<br>in funds<br>15,725|
|---|---|---|---|
||||15,725|



## 13. RELATED PARTY DISCLOSURES 

There were no related party transactions for the year ended 30 June 2024. 

Page 17 



THE EIGHT FOUNDATION 

Detailed Statement of Financial Activities for the Year Ended 30 June 2024 

|INCOME AND ENDOWMENTS<br>Donations and legacies<br>Donations<br>Other trading activities<br>Fundraising events<br>Total incoming resources<br>EXPENDITURE<br>Raising donations and legacies<br>Donations<br>Gifts<br>Other trading activities<br>Purchases<br>Charitable activities<br>Grants given<br>Other<br>Staging events<br>Supportcosts<br>Other<br>Wages<br>Pensions<br>Support costs<br>Total resources expended<br>Net income/(expenditure)|30.6.24<br>79,878<br>103,661<br>183,539<br>905<br>304<br>1,209<br>3,248<br>40,861<br>90,552<br>18,723<br>1,432<br>10,907<br>31,062<br>166,932<br>16,607|30.6.23<br>63,786<br>90,762|
|---|---|---|
|||154,548<br>1,715<br>270|
|||1,985<br>2,953<br>48,759<br>88,278<br>13,455|
|||13,455|
|||155,430|
|||(882)|



This page does not form part of the statutory financial statements 

Page 18