Charity Registration No. 1175117
REBOOT THE FUTURE
(A CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES' REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
REBOOT THE FUTURE LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Stefan Homeister |
|---|---|
| Veronica Patton-Cemm | |
| Ami Shpiro | |
| Kim Elizabeth Polman M.A. | |
| Jeremy Bradshaw | |
| Amber Nuttall | |
| Charity number | 1175117 |
| Company number | CE011575 (registered externally) |
| Principal address | 45 Priory Avenue |
| London | |
| W4 1TZ | |
| Independent Examiner | TC Group |
| The Courtyard | |
| Shoreham Road | |
| Upper Beeding | |
| Steyning | |
| West Sussex | |
| BN44 3TN | |
| Bankers | HSBC UK |
| 1 Centenary Square | |
| Birmingham | |
| B1 1HQ |
REBOOT THE FUTURE CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of trustees’ responsibilities | 3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 - 12 |
REBOOT THE FUTURE TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their Annual report, together with the financial statements for Reboot The Future for the year to 31 December 2024.
The trustees confirm that the accounts comply with the Charities Act 2011, the trust deed, and 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).
OUR OBJECTIVES
The objects of the CIO are for the public benefit to promote sustainable development, or in such other ways as the charity trustees think fit.
In setting our objectives, trustees have given careful consideration to the Charity Commission’s public benefit guidance.
Charitable Activities
The format of charitable activities includes reboot experiences, which encourage reflection through guided conversations and immersive audio journeys. Expert engagements, leadership training and campaigns are also all ways in which the charity further their charitable aims and objectives.
Risk Management
The trustees are responsible for the overseeing of the risks faced by the CIO. Risks are identified and assessed. The principal concerns for the CIO are:
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A lack of donor diversity. The trustees are aware of a current reliance on principle donors.
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Loss of senior staff members. A loss would require a lot of resources to replace senior staff members.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Reboot The Future is a Charitable Incorporated Organisation and its registered Charity number is 1175117. The charity is governed by its constitution which was signed on 11th October 2017.
The trustees who served during the period were:
Stefan Homeister Veronica Patton-Cemm Ami Shpiro Kim Elizabeth Polam M.A. Jeremy Bradshaw Georgie Howlett (resigned 05/09/2024) Emily Vernall (resigned 28/05/2024) Amber Nuttall (appointed 17/12/2024)
The trustees have overall responsibility of the management and control of the CIO and the full Board of Trustees meet at least twice a year. Every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. 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.
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REBOOT THE FUTURE
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
OUR FINANCES
Financial Review
The financial statements show net incoming resources for the year of £8,013 (2023: outgoing of £68,000). The principal source of income is from donations from trustees.
Reserves Policy
The trustees regularly review the finances, budgets and spend against budget as part of the effective stewardship of the CIO.
The trustees consider that, in the event of a drop in short-term funding, they will be able to continue the CIO’s activities while consideration is given to ways in which additional funds may be raised. In order to ensure this is the case, the trustees have set a reserves policy whereby the charity should look to hold free reserves of at least 3 months of operating costs. Free reserves totalled £140,105 (2023: £25,911) at the balance sheet date, which is in excess of the 3 month target.
This report was approved by the trustees at the Board meeting as dated below.
Jeremy Bradshaw Trustee
Dated: .........................
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REBOOT THE FUTURE
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees, who are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable incorporated organisation for that year.
In preparing these accounts, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
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REBOOT THE FUTURE INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF REBOOT THE FUTURE
Independent examiner’s report to the trustees of Reboot The Future
I report to the trustees on my examination of the accounts of Reboot The Future for the year ended 31 December 2024 which are set out on pages 5 to 12.
Responsibilities and basis of report
As the charity trustees 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 charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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.
Mark Cummins FCCA FCIE on behalf of TC Group
The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
Dated: 12 May 2025
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REBOOT THE FUTURE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations | 4 | 239,556 | - | 239,556 | 301,253 |
| Charitable activities | 5 | 16,493 | - | 16,493 | - |
| Trading income | 6 | 1,765 | - | 1,765 | 18,046 |
| Other income | 7 | 863 | - | 863 | 144 |
| Interest received | 764 | - | 764 | 242 | |
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| Total income | 259,441 | - | 259,441 | 319,685 | |
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| Expenditure on: | |||||
| Charitable activities | 8 | 248,803 | 2,625 | 251,428 | 387,685 |
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| Total expenditure | 248,803 | 2,625 | 251,428 | 387,685 | |
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| Net income / (expenditure) | 10,638 | (2,625) | 8,013 | (68,000) | |
| Transfers between funds | 15 | 103,846 | (103,846) | - | - |
| Fund balances at 1 January 2024 | 25,911 | 106,471 | 132,382 | 200,382 | |
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| Fund balances at 31 December 2024 | 140,395 | - | 140,395 | 132,382 | |
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None of the charity's activities were discontinued in the year.
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REBOOT THE FUTURE
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 12 | 290 | 690 | ||
| Current assets | |||||
| Cash at bank and in hand | 76,652 | 35,153 | |||
| Debtors | 13 | 69,440 | 106,528 | ||
| ___ | ──────── |
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| 146,092 | 141,681 | ||||
| Creditors: amounts falling due | |||||
| within one year | 14 | (5,987) | (9,989) | ||
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| Net current assets | 140,105 | 131,692 | |||
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| Net assets | 140,395 | 132,382 | |||
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| Total funds: | 17 | ||||
| Unrestricted funds | 140,395 | 25,911 | |||
| Restricted funds | 16 | - | 106,471 | ||
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| Total funds | 140,395 | 132,382 | |||
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The accounts were approved by the Board on .........................
.............................. Jeremy Bradshaw
Trustee
Charity number 1175117
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REBOOT THE FUTURE NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Legal status
Reboot The Future is a Charitable Incorporated Organisation registered in England and Wales. The charity’s registered number and principal address can be found on the legal and administration page.
2 Accounting policies
2.1 Basis of preparation
The accounts have been prepared in accordance with 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) – (Charities SORP (FRS 102)).
Reboot The Future meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about Reboot The Future’s ability to continue as a going concern.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound
2.2 Cash Flow Statement
In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size.
2.3 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Plant and machinery 33% straight line
At each reporting date, the charity reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. Any such loss would be recognised immediately as expenditure in that year.
2.4 Income
Income represents donations income which is included in the Statement of Financial Activities when the charity is entitled to the income, when the income can be measured reliably and when it becomes probable that the income will be received.
2.5 Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis, with irrecoverable Value Added Tax included with the item of expenditure to which it relates.
Governance costs comprise the costs of running the charity, including independent examination and accountancy fees and any legal advice for the trustees.
2.6 Accumulated funds
Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the charity.
Restricted funds – Donations, bequests, or incoming resources for which the donor has earmarked for a specific purpose are treated as restricted funds
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REBOOT THE FUTURE
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2. Accounting policies (continued)
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and highly liquid short term investments. The trustees seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.
2.8 Creditors & provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount due.
2.10 Financial instruments
The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments which are recognised at transaction value and subsequently at their settlement value.
2.11 Accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
3 Taxation
Reboot The Future is a registered charity (charity number 1175117). All activities are undertaken to fulfil the primary objectives of the charity and are therefore exempt from direct taxation.
4 Donations income
| 4 | Donations income | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Donations | 239,556 | 301,253 | |
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| 239,556 | 301,253 | ||
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| In 2024, £nil (2023: £nil) of donations were restricted by donors. | |||
| 5 | Charitable activities income | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Expert engagements | 16,493 | - | |
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| 16,493 | - | ||
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REBOOT THE FUTURE
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 6 | Trading income | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Sales | 1,765 | 18,046 | |
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| 1,765 | 18,046 | ||
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| 7 | Other income | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Currency gains | 863 | 144 | |
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| 863 | 144 | ||
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| 8 | Expenditure | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Support costs | 53,171 | 118,763 | |
| Charitable activities | 198,257 | 268,770 | |
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| 251,428 | 387,443 | ||
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| 9 | Support costs | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Salaries | 32,871 | 43,024 | |
| Administrative expenditure | 11,943 | 49,731 | |
| Governance costs | 8,357 | 26,008 | |
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| 53,171 | 118,763 | ||
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10 Governance costs
Included within governance costs is £2,000 (2023: £1,800) for the independent examiner’s fee.
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REBOOT THE FUTURE NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 11 | Staff costs | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Wages and salaries | 198,585 | 259,293 | |
| Social security costs | 16,783 | 23,294 | |
| Employer pension contributions | 3,775 | 5,854 | |
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| 219,143 | 288,441 | ||
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The were an average of four employees during 2024 (2023: seven). There were no employees in 2024 or 2023 who received total employee benefits of more than £60,000.
12 Tangible fixed assets
| Plant and | ||
|---|---|---|
| machinery | ||
| Cost | £ | |
| At 1 January 2024 and at 31 December 2024 | 1,457 | |
| Depreciation | ||
| At 1 January 2023 | 767 | |
| Charge for the year | 400 | |
| At 31 December 2024 | 1,167 | |
| Net book value at 31 December 2024 | 290 | |
| Net book value at 31 December 2023 | 690 | |
| 13 Debtors |
2024 | 2023 |
| £ | £ | |
| Trade debtors | 3,938 | 57 |
| Global Impact Funds | 64,466 | 106,471 |
| Prepayments and accrued income | 636 | - |
| Other debtors | 400 | - |
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| 69,440 | 106,528 | |
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REBOOT THE FUTURE NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 14 | Creditors | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Trade creditors | 2,673 | 2,042 | |
| Accruals and deferred income | 2,820 | 1,568 | |
| Social security and other taxation | 494 | 6,379 | |
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| 5,987 | 9,989 | ||
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| 15 Restricted Funds Global Impact Funds |
Balance at 1 Jan 2024 £ 106,471 106,471 |
Income £ - - |
Movement Expenditure £ (2,625) (2,625) |
in funds Transfers £ (103,846) (103,846) |
Balance at 31 Dec 2024 £ - |
|---|---|---|---|---|---|
| - |
Global Impact Funds have been historically classified incorrectly as restricted funds. The new independent examiners have elucidated the nature of these funds, and as such they have been transferred to unrestricted funds. There are no restrictions on the usage of these funds.
16 Analysis of net assets between funds
| Fund balances at 31 December 2024 are represented by: Fixed assets Current assets Creditors: amounts falling due within one year Fund balances at 31 December 2023 are represented by: Current assets Creditors: amounts falling due within one year |
Unrestricted funds £ 290 146,092 (5,987) 140,395 Unrestricted funds £ 690 35,210 (9,989) 25,911 |
Restricted funds £ - - - - Restricted funds £ - 106,471 - 106,471 |
2024 Total £ 290 146,092 (5,987) |
|---|---|---|---|
| 140,395 | |||
| 2023 Total £ 690 141,681 (9,989) 132,382 |
17 Trustees and related party transactions
One of the trustees (and a person connected with them) donated £120,000 to the charity during the year (2023: £205,763). £623 of expenses were reimbursed to one trustee in respect of travel costs during 2024 (2023: £nil).
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REBOOT THE FUTURE NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Control
The charity is under the control of the trustees.
19 Comparative funds – Statement of Financial Activities for the year ended 31 December 2023
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | 2023 | |
| £ | £ | £ | |
| Income from: | |||
| Donations | 301,253 | - | 301,253 |
| Sales | 18,046 | - | 18,046 |
| Other income | 144 | - | 144 |
| ─────── | ──────── | ──────── | |
| Total income | 319,443 | - | 319,443 |
| ─────── | ──────── | ──────── | |
| Expenditure on: | |||
| Charitable activities | 381,840 | 5,603 | 387,443 |
| ─────── | ──────── | ──────── | |
| Total expenditure | 381,840 | 5,603 | 387,443 |
| ─────── | ──────── | ──────── | |
| Net income / (expenditure) | (62,397) | (5,603) | (68,000) |
| Fund balances at 1 January 2023 | 88,308 | 112,074 | 200,382 |
| ─────── | ──────── | ──────── | |
| Fund balances at 31 December 2023 | 25,911 | 106,471 | 132,382 |
| ═══════ | ════════ | ════════ |
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