2024-03-31-accounts - The Grenfell Foundation

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Company number: 11250719 Charity number: 1177575

The Grenfell Foundation

(A Charity Company Limited by Guarantee, company number 11250719)

Financial Statements

and

Trustees' Report

for the year ended 31 March 2024

AT The Grenfell Foundation

(A Charity Company Limited by Guarantee, company number 11250719)

Index to the Financial Statements for the year ended 31 March 2024

	Page
Index to the Financial Statements	2
Charitable Company Information	3
Trustees' Report	4 - 7
Statement of Trustees' Responsibilities	8
Independent Examiner's Report	9
Statement of Financial Activities	10
Statement of Financial Position	11
Statement of Cash Flows	12
Accounting Policies	13
Notes to the Accounts	14 - 16

Page 2

AT The Grenfell Foundation

(A Charity Company Limited by Guarantee, company number 11250719)

Charitable Company Information

for the year ended 31 March 2024

Status:	The Grenfell Foundation is a company limited by guarantee and a registered charity	The Grenfell Foundation is a company limited by guarantee and a registered charity
	governed by its memorandum and	articles of association. The directors of the company
	are its trustees for the purposes of	charity law and throughout this report are collectively
	referred to as the trustees.
Charity name:	The Grenfell Foundation
Company registration number:	11250719
	(England & Wales)
Charity registration number:	1177575
Registered office:	4B Printing House Yard
	Hackney Road
	London E2 7PR
Trustees who held office	David Joseph CBE
during the period to the	Jenita Rahman
date of these accounts:	Marcus Mumford
	William Sieghart CBE
	Susan Dolton
	Clare Richards MBE	- Appointed 18 April 2023
Independent Examiner:	Anthony Armstrong FCA
	Armstrong & Co
	Chartered Accountants & Statutory Auditor
	4a Printing House Yard
	Hackney Road
	London E2 7PR
Solicitors:	Bates Wells & Braithwaite London LLP
	10 Queen Street Place
	London EC4R 1BE
Bankers:	C. Hoare & Co
	37 Fleet Street
	London EC4Y 1BT

Page 3

(A Charity Company Limited by Guarantee, company number 11250719)

AT The Grenfell Foundation

Trustees' Report, incorporating the Directors' Report

for the year ended 31 March 2024

March 2024. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102.

Structure, Governance and Management

Trustees

The Trustees of the charity who held office during the year are disclosed on page 3. Under the Articles of Association, the trustees are the members of the company for statutory purposes.

The trustees meet at least four times annually to discuss a full range of matters relating to strategy, project work, recruitment, finance and general information.

The induction process for any individual newly-appointed to the Board of Trustees comprises an initial meeting with at least two of the trustees (whenever possible one of these two trustees being the Chair) and receipt of copies of:

The memorandum and articles of association
The most recent financial statements / management accounts

Governing Document

The Grenfell Foundation is a company limited by guarantee, incorporated on 12 March 2018 and registered as a charity on 16 March 2018. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.

Risk Management

The trustees acknowledge that they have a responsibility for the identification and proper management of the risks faced by the charity in achieving its primary aims. The trustees have therefore assessed the major risks to which the charity is exposed, in particular to those relating to the specific operational areas of the charity and its finances. The trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, by creating and reviewing a risk register, and by examining the operational risks faced by the charity, they have established effective systems and procedures to mitigate those risks.

Objects of the charity

The objects of the charity are for the public benefit:

to benefit the former residents of the Grenfell Tower and their families and dependants and the local community, by associating together the said residents, families and dependants, and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for such persons;
to relieve financial hardship, poverty, distress and suffering, including without limitation through the provision of advice, care and other forms of personal support;
- to preserve and protect physical and mental health, including without limitation by raising awareness of any lessons learned from the Grenfell Tower tragedy with a view to ensuring that, as far as possible, no similar tragedy or tragedies take place in the future;
to advance in life and help young people to participate and integrate fully in society;
to advance education and promote lifelong learning, including without limitation through the provision of skills training, advice and support;
to promote social inclusion by providing opportunities to build capacity and by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting their integration into and participation in wider society; and
to advance any other charitable purposes which the trustees may from time to time think fit and which are in the opinion of the trustees complementary to the foregoing objects,

In each case, without limiting the discretion of the trustees or the potential scope of the foregoing objects, with an expected focus on the survivors of the Grenfell Tower tragedy and of former residents of Grenfell Tower and their families and dependants and those who have suffered bereavement as a result of the tragedy, as well as the local community, and without distinction of sex, sexual orientation, race or of political, religious or other opinions.

Page 4

(A Charity Company Limited by Guarantee, company number 11250719)

AT The Grenfell Foundation

Trustees' Report, incorporating the Directors' Report for the year ended 31 March 2024

The Grenfell Foundation was established as a charitable organisation in 2018 at the direct request of bereaved and survivors from Grenfell Tower following the tragic fire of June 14, 2017.

Amongst the public outpouring of support, and efforts by central and local government to respond to the tragedy, it became clear that there was a need amongst those most affected for a new charitable organisation focused on their needs.

The Grenfell Foundation was set up to listen to those needs and to provide long term, long-lasting, bespoke support to the survivors, bereaved and wider community. That began with helping to ensure and provide funding for a community-led, appropriate anniversary. It continues in its attempts to encourage social cohesion, and support in the areas of Remembrance, Awareness and Wellbeing, as well as personalised support for bereaved and survivors. We have a small team of committed staff with a long history in the community who are able to provide one to one, independent support to family members throughout the Grenfell journey around all the issues that impact them since the fire.

Over time, the immediate post-disaster support will slow down. While the Foundation is not set up to provide services the State has a duty to provide following disasters, we will support wider projects and initiatives that are beneficial to the community, and the generations affected by the Grenfell tower fire. We will also support awareness raising efforts as bereaved families and survivors work to ensure lessons are learnt from the tragedy. And we will provide support for a memorial event for the bereaved families, survivors and wider community, so that each year on June 14th they can come together to remember loved ones lost in the fire.

The 14th June 2023 marked 6 years / 72 months since the tragedy, a significant but painful milestone for the bereaved, survivors and community given they are no closer to Justice, and what the number represents. We supported the families with a number of Memorial events around this time in order to ensure Grenfell is kept on the National agenda.

We saw the Social Housing Regulation Bill become Law this year, but it will take time, and ongoing engagement from the Government to ensure this is implemented in full, and to see the change tenants across the country so badly need.

There is now a painful wait for the publication of the Phase 2 Inquiry Report, a key moment that will hopefully publish the truth, as well as open up the pathway towards criminal prosecutions

As time goes on, things are not getting any easier for the bereaved, survivors or local community and we commit to continuing the pastoral, health and wellbeing support the community needs long into the future.

It is an honour to work with this incredible community. Their dignity, determination and support for each other is a constant reminder of the community spirit at the heart of the Grenfell story

Marcus Mumford

Chair, The Grenfell Foundation

Activities during the period

Anniversary & remembrance:

The 6 year anniversary marked 72 months since the tragedy, giving additional significance to an already difficult period for families. The annual Silent Walk was attended by 10,000 people, with speeches following from a number of family members of all ages.

young people to gather near the anniversary and remember and reflect through creative means. This young people prepared pictures and poems to be shown and shared around the anniversary event

Once again, buildings and homes were encouraged to go green around the 14th June, and schools and community spaces took

Page 5

(A Charity Company Limited by Guarantee, company number 11250719)

AT The Grenfell Foundation

Trustees' Report, incorporating the Directors' Report

for the year ended 31 March 2024

Family Support:

Our staff continue to support bereaved and survivors on a one to one basis, as well as offering staffing to Grenfell United. The Grenfell Testimony Week in January 2024 was a key moment in the Grenfell journey, with staff supporting both pre-recorded and live testimony given by bereaved and survivors. The extended timeline and ongoing wait for Justice and Change gets harder all the time for those most affected, and there are still major milestones to come such as the Phase 2 Report, a decision on the Tower and Memorial, and the criminal process.

Awareness:

There have been a number of creative projects over this period which have served to shine a spotlight on Grenfell, including Grenfell in the Words of Survivors at the National Theatre, Grenfell by Steve McQueen at the Serpentine, and Requiem by Chris Ofili at the Tate Britain. We have supported with the family engagement on these projects to ensure those most impacted are always central to the conversation, and a key part of telling their story. Family members also presented on a panel at Glastonbury this year, a talk that was hugely well attended

In July 2023, the Social Housing Regulation Bill, a key piece of legislation that will go some way to ensuring tenants are treated better post Grenfell, became law. Families had been campaigning for this for 6 years, and we look forward to seeing the impact this may make in the sector.

We continue to work with researchers from Southampton and Oxford University, who are consulting with family members on how Grenfell should be taught in schools in the future. This work will both look at classroom content, as well as CPD for teachers running lessons on the topic.

Young people from the area continue to work with Mabel on a commemorative t-shirt to be released in the run up to the 7 year anniversary. In December they shot a promotional video, and all proceeds will go towards youth projects in the area as decided by those young people taking part.

2 affected family members also ran the London Marathon with our Chair this year, raising both awareness and funds, and representing the Grenfell cause to a new audience.

Health, Wellbeing and Community:

Our Grenfell Memorial Cup event was this year held at St Georges Park, the FA headquarters. 600 players and supporters from

take part. It allowed a wider range of local causes to take part, and we will continue with it being a North Kensington wide event going forwards.

and fitness to Grenfell impacted women in the community. This was coupled with a talking session after each class, and a creche to ensure there were limited barriers and holistic support for the course.

Looking to the future

The Phase 2 Report is expected later this year, which alongside putting the truth in writing for families, also opens up the process Once the Inquiry Report is published, that will be the last major milestone that attracts large public attention, and we will work with families to ensure that Grenfell stays in the public eye in the runup to any criminal announcements.

We will continue to support families to raise awareness and keep Grenfell in hearts and minds, including by supporting the anniversary events and campaigns, as well as wider legacy projects to make sure that the lessons from this tragedy can lead to change in the local area and across the country.

Financial review

Funding for the charity comes mainly from voluntary income, event fundraising and grants.

Financial Activity and Financial Position

The results of the period and financial position of the charity are shown in the annexed financial statements.

The Statement of Financial Activities shows net expenditure for the period of £53,913 and reserves of £721,464.

Page 6

(A Charity Company Limited by Guarantee, company number 11250719)

AT The Grenfell Foundation

Trustees' Report, incorporating the Directors' Report

for the year ended 31 March 2024

Reserves Policy

The trustees have examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. funding, free reserves should be sufficient to meet all committed operating expenditure and to meet the planned charitable activity expenditure for the next 12 months. The trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented.

Independent Examiner

The Independent Examiner, Anthony Armstrong FCA of Armstrong & Co, Chartered Accountants and Statutory Auditors, has indicated his willingness to be proposed for re-appointment.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Trustees on 3 December 2024 and signed on its behalf by:

Jenita Rahman Trustee

Page 7

(A Charity Company Limited by Guarantee, company number 11250719)

AT The Grenfell Foundation

Statement of Trustees' Responsibilities for the year ended 31 March 2024

The trustees (who are the directors of The Grenfell Foundation for the purpose of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

a) Select suitable accounting policies and apply them consistently;
b) Observe the methods and principles in the Charities SORP;
c) Make judgements and estimates that are reasonable and prudent;
d) Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the accounts;
e) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and charity legislation. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 8

(A Charity Company Limited by Guarantee, company number 11250719)

AT The Grenfell Foundation

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

I report on the accounts of The Grenfell Foundation for the period from 1 April 2023 to 31 March 2024, which are set out on pages 10 to 16.

This report is made solely to the trustees as a body in accordance with section 145 of the Charities Act 2011 (the Charities Act) and regulations made under section 154 of that Act. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

As described on page 8, the trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the the Charities Act and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

a) examine the accounts under section 145 of the Charities Act;
b) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
c) to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 386 of the Companies Act 2006 Act, or
the accounts do not accord with such records; or
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I 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.

Anthony Armstrong FCA, Independent Examiner of Armstrong & Co Chartered Accountants & Statutory Auditor

4a Printing House Yard Hackney Road London E2 7PR

Dated: 3 December 2024

Page 9

(A Charity Company Limited by Guarantee, company number 11250719)

FS The Grenfell Foundation

Statement of Financial Activities

incorporating the income and expenditure account for the year ended 31 March 2024

		2023
Unrestricted Funds	Restricted Funds	Total Funds
£ 162,006 - 19,442	£ - - -	£ 93,921 1,998 1,712
181,448	-	97,631
235,361	-	252,398
235,361	-	252,398
(53,913) 775,377	- -	(154,767) 930,144
721,464	-	775,377

All incoming resources and resources expended are derived from continuing activities.

The statement of financial activities incorporates an income and expenditure account. The accompanying accounting policies and notes form an integral part of these financial statements.

Page 10

(A Charity Company Limited by Guarantee, company number 11250719)

The Grenfell Foundation

Statement of Financial Position

as at 31 March 2024

Notes ixed assets: angible assets 8 otal fixed assets Current assets: Debtors 9 Cash at bank and in hand 10 otal current assets 11 Net current assets otal net assets he funds of the charity: Unrestricted funds 15 otal charity funds 14 Creditors: amounts falling due within one year	£ £ £ £ 492 - 492 - 6,598 6,550 733,211 783,846 739,809 790,396 18,837 15,019 720,972 775,377 721,464 775,377 721,464 775,377 721,464 775,377 31 March 2024 31 March 2023	£ £ £ £ 492 - 492 - 6,598 6,550 733,211 783,846 739,809 790,396 18,837 15,019 720,972 775,377 721,464 775,377 721,464 775,377 721,464 775,377 31 March 2024 31 March 2023
	£ 6,598 733,211	£ -
		- 775,377
	739,809 18,837

		775,377 775,377
		775,377

The directors are satisfied that the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

(i) ensuring that the company keeps proper accounting records which comply with Section 386 of the Companies Act 2006; and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of Section 394 and 395 of the Companies Act 2006, and which otherwise comply with the requirements of this act relating to accounts, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.

The financial statements were approved by the Board of Trustees on 3 December 2024 and signed on its behalf by:

Jenita Rahman Trustee

The notes on pages 13 to 16 form part of these accounts.

Page 11

The Grenfell Foundation

(A Charity Company Limited by Guarantee, company number 11250719)

Statement of Cash Flows

for the year ended 31 March 2024

Notes
Cash flows from operating activities:
Net cash provided by/(used in) operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to the Cash Flow Statement
1)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
2)
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)

2024
2023
£
£
(69,383)
(175,809)
19,442
1,712
(694)
-
18,748
1,712
(50,635)
(174,097)
783,846
957,943
733,211
783,846
2024
2023
£
£
(53,913)
(154,767)
202
-
(19,442)
(1,712)
(48)
(2,150)
3,819
(17,180)
(69,383)
(175,809)
2024
2023
£
£
733,211
783,846
733,211
783,846

Page 12

(A Charity Company Limited by Guarantee, company number 11250719)

The Grenfell Foundation

Accounting Policies

for the year ended 31 March 2024

Basis of preparation

The financial statements have been prepared in accordance with:

a) Applicable UK accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)'.
b) 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 2015) - (Charities SORP FRS 102);
c) the Companies Act 2006.
d) the Charities Act 2011.

Public benefit entity

The charitable company meets the defination of a public benefit entity under FRS 102.

Going concern

The charity's income is mainly derived from non self-generated sources, such as donations, grants, local authority funding and other governmental or NGO sources. The trustees consider that there are no material uncertainties about the likelihood that this support will continue, and accordingly, the accounts have been prepared on a going concern basis.

Income recognition

Income is recognised when the charity has a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably. Income with conditions attached to its receipt is recognised when those conditions have been fulfilled.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Trustees. These include grants payable, governance costs and an apportionment of support costs.
offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

Costs are allocated directly to projects where they can be identified as relating solely to that project. Other costs are allocated between the funds based on staff time spent on the fund activities or other appropriate criteria.

Restricted Funds

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Pensions

The charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

50% on cost

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(A Charity Company Limited by Guarantee, company number 11250719)

The Grenfell Foundation

Notes to the Accounts for the year ended 31 March 2024

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2 Net outgoing resources

Net outgoing resources Net outgoing resources are stated after charging: Independent Examiner's fees - reporting service Depreciation & amortisation Trustees' emoluments	2024 £ 2,400 202 -	2023 £ 2,400 - -

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services as trustees.

Income from donations and legacies Donations Income from charitable activities Book sales Income from investments Bank interest received Expenditure on charitable activities Project costs Grants & donations made Other Admin costs (including staff costs in note 7) Staff costs Salaries Social security Pension contributions Emoluments Employees paid in excess of £60,000 during the current period: Average number of FTE employees during the period was:	Unrestricted £ 162,006 162,006 Unrestricted £ - - Unrestricted £ 19,442 19,442 Unrestricted £ 64,552 13,583 157,226 235,361	Restricted £ - - Restricted £ - - Restricted £ - - Restricted £ - - - -	2024 Total £ 162,006 162,006 2024 Total £ - - 2024 Total £ 19,442 19,442 2024 Total £ 64,552 13,583 157,226 235,361 2024 £ 92,750 5,603 4,637 102,990 2 None	2023 Total £ 93,921
				93,921 2023 Total £ 1,998
				1,998 2023 Total £ 1,712
				1,712 2023 Total £ 66,033 13,153 173,212
				252,398 2023 £ 104,000 7,467 5,200
				116,667 2 None

3 Income from donations and legacies

4 Income from charitable activities

5 Income from investments

6 Expenditure on charitable activities

7 Staff costs

Page 14

(A Charity Company Limited by Guarantee, company number 11250719)

The Grenfell Foundation

Notes to the Accounts

for the year ended 31 March 2024

8 Tangible fixed assets #N/A Leasehold improvements Plant & machinery Computer equipment £ £ £ £ Cost Additions - - - - As at 31 March 2024 - - - - Depreciation Charge for the year - - - - As at 31 March 2024 - - - - Net book value As at 31 March 2024 - - - - 9 Debtors: amounts falling due within one year Accounts receivable Other debtors Prepayments 10 Bank and cash in hand Bank deposit account Bank accounts 11 Creditors: amounts falling due within one year Accounts payable Credit card PAYE Pensions Accruals	Office equipment £ 694 694 202 202 492 2024 £ 2,048 2,150 2,400 6,598 2024 £ 700,000 33,211 733,211 2024 £ 5,398 1,017 1,816 442 10,164 18,837	Total £ 694
		694 202
		202 492 2023 £ 2,000 2,150 2,400
		6,550 2023 £ 400,000 383,846
		783,846 2023 £ 6,901 1,784 3,156 780 2,398
		15,019

12 13	The funds of the charity: current year Restricted funds Restricted funds Unrestricted funds General funds The funds of the charity: prior year Restricted funds Restricted income funds Unrestricted funds General funds	Opening balance £ - 775,377 775,377 Opening balance £ - 930,144 930,144	Resources arising £ - 181,448 181,448 Resources arising £ - 97,631 97,631	Resources utilised £ - (235,361) (235,361) Resources utilised £ - (252,398) (252,398)	Other movements £ - - - Other movements £ - - -	Closing balance £ - 721,464
						721,464 Closing balance £ - 775,377
						775,377

Page 15

(A Charity Company Limited by Guarantee, company number 11250719)

The Grenfell Foundation

Notes to the Accounts

for the year ended 31 March 2024

Restricted funds(continued)	Restricted funds(continued)
Photography Exhibition	Funds provided for a photography exhibition included Grenfell bereaved and survivors.
Projections	Funds provided for a series of projections across the country to highlight some of the safety issues after Grenfell, to support those campaigning to remove unsafe cladding from their homes.

14 Net assets attributable to funds : current year Tangible fixed assets Current assets Current liabilities Net assets attributable to funds 15 Net assets attributable to funds: prior year Current assets Current liabilities Net assets attributed to funds	General funds 491 739,809 (18,836) 721,464 General funds 790,396 (15,019) 775,377	Designated funds £ - - - - Designated funds £ - - -	Restricted funds £ - - - - Restricted funds £ - - -	Endowment funds £ - - - - Endowment funds £ - - -	Total £ 491 739,809 (18,836)
					721,464 Total £ 790,396 (15,019)
					775,377

16 Taxation

The organisation is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

17 Post balance sheet events

There were no significant post balance sheet events.

18 Contingent liabilities

The charitable company had no material contingent liabilities at 31 March 2024 nor at 31 March 2023.

19 Related parties

There were no disclosable related party transactions during the year.

20 Gifts in kind and volunteers

During the period the charitable company benefited from unpaid work performed by volunteers.

21 Statutory status

The organisation is a company limited by guarantee and registered charity. The guarantors liability in the event the company is wound up is restricted to a maximum of £1 each.

Page 16