REGISTERED CHARITY NUMBER: 1183382
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
4ward Futures
4ward Futures
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
4ward Futures
Report of the Trustees for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance education and increase employability by empowering people through the development of their career knowledge and transferable work-related skills and behaviours by providing:
1) inspirational opportunities to meet with employers and other individuals and organisations
-
2) experiences of the workplace and
-
3) training and mentorship.
Significant activities
In 2024, 4wardFutures provided hybrid careers education delivery, live within schools and online through webinars as projects allowed. Developed an online virtual Sustainable Futures Careers Expo for its EASES, CASLOE CS, WATMO, Keele Earth Summit, CALOM and Space for All (Spece Wales) projects.
Public benefit
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Over the course of 2024, 4wardFutures has delivered 66 workshops/events/webinars. Engaging with a total of 1326 students (aged 9 years upwards), of which 587 were females, who are an under-represented group in many industrial sectors. We engaged 47 volunteers/organisations with our activities and 24 members of the public directly and many thousands through our online platforms.
FINANCIAL REVIEW
Principal funding sources
The Charity is funded through a variety of Grants from businesses or Grant awarding organisations, such as Universities, through the Higher Horizons Programme and Professional Institutes such as RAE, STFC, Ogden Trust, Liverpool University and RSC.
Investment policy and objectives
The Trustees have considered the most appropriate policy for investing funds and has found that the use of the Charity bank account is appropriate due to their current funding position.
Reserves policy
Given that the Charity has no current surplus funds, the Trustees' have not established a formal reserves policy.
Funds in deficit
The Trustees are confident that the small deficit will be resolved within the next financial year.
FUTURE PLANS
The Trustees are confident that within the next financial year, they will be able to engage further with schools and colleges as new projects are brought online and made available, such as AI Futures, which is getting a lot of traction, with schools more willing to find time within the timetables for cutting edge careers type activities.
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4ward Futures
Report of the Trustees for the Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Appointment of charity trustees
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.
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.
Number of charity trustees
There must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee.
The maximum number of charity trustees is 11. The charity trustees may not appoint any charity trustee if as a result the number of charity trustees would exceed the maximum.
Retirement and removal of charity trustees
(1) A charity trustee ceases to hold office if he or she:
(a) retires by notifying the CIO in writing (but only if enough charity trustees will remain in office when the notice of resignation takes effect to form a quorum for meetings);
(b) is absent without the permission of the charity trustees from all their meetings held within a period of six months and the trustees resolve that his or her office be vacated;
(c) dies;
(d) in the written opinion, given to the company, of a registered medical practitioner treating that person, has become physically or mentally incapable of acting as a director and may remain so for more than three months;
(e) is disqualified from acting as a charity trustee by virtue of sections 178-180 of the Charities Act 2011 (or any statutory re-enactment or modification of that provision).
(2) Any person retiring as a charity trustee is eligible for reappointment.
(3) A charity trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive term but may be reappointed after an interval of at least one year.
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4ward Futures
Report of the Trustees for the Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The charity trustees may appoint one of their number to chair their meetings and may at any time revoke such appointment. If no-one has been so appointed, or if the person appointed is unwilling to preside or is not present within 10 minutes after the time of the meeting, the charity trustees present may appoint one of their number to chair that meeting.
No decision shall be taken at a meeting unless a quorum is present at the time when the decision is taken. The quorum is 3 charity trustees. A charity trustee shall not be counted in the quorum present when any decision is made about a matter upon which he or she is not entitled to vote. In the case of an equality of votes, the person who chairs the meeting shall have a second or casting vote.
Membership of the CIO
The members of the CIO shall be its charity trustees for the time being. The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else.
Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO.
Induction and training of new trustees
The charity trustees will make available to each new charity trustee, on or before his or her first appointment:
-
(a) a copy of the current version of this constitution; and
-
(b) a copy of the CIO's latest Trustees' Annual Report and statement of accounts.
All trustees are offered an induction package, including information about the work of the charity and Charity Commission trustee's leaflets. All trustees are invited to participate in relevant training.
Related parties
The charity has a trading subsidiary, 4F Innovations Limited, a company registered in the England and Wales. The subsidiary supplies consultants for the project work undertaken by the charity. The subsidiary will pass any profits made up to the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1183382
Principal address
8 Winmarleigh Street Warrington Cheshire WA11JW
Trustees
P Atkinson D Thomas N Ibrahim
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4ward Futures
Report of the Trustees for the Year Ended 31 December 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Janine Boyo Voisey & Co LLP Chartered Accountants 8 Winmarleigh Street Warrington Cheshire WA1 1JW
GOING CONCERN
The Trustees are continually reviewing the operations of the charity and its ability to deliver its objects during the Covid 19 pandemic. The Trustees have followed Government Guidance and are seeking financial assistance where appropriate and making cost savings where possible. In the opinion of the Trustees significant financial pressure will be placed on the Charity as a result of the Covid 19 pandemic but the Trustees believe they have the structure and resources to ensure the Charity will in the future become a going concern.
Approved by order of the board of trustees on 9 July 2025 and signed on its behalf by:
P Atkinson - Trustee
Page 4
Independent Examiner's Report to the Trustees of 4ward Futures
Independent examiner's report to the trustees of 4ward Futures
I report to the charity trustees on my examination of the accounts of 4ward Futures (the Trust) for the year ended 31 December 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Janine Boyo
Voisey & Co LLP Chartered Accountants 8 Winmarleigh Street Warrington Cheshire WA1 1JW
9 July 2025
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4ward Futures
Statement of Financial Activities for the Year Ended 31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | - | 8,050 |
| Charitable activities | 3 | ||
| Assisting young people with their careers | 45,236 | 42,801 | |
| Total | 45,236 | 50,851 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Assisting young people with their careers | 38,720 | 45,321 | |
| NET INCOME | 6,516 | 5,530 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (9,254) | (14,784) | |
| TOTAL FUNDS CARRIED FORWARD | (2,738) | (9,254) |
The notes form part of these financial statements
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4ward Futures
Balance Sheet 31 December 2024
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 6 | 905 | 1,551 |
| Investments | 7 | 100 | 100 |
| 1,005 | 1,651 | ||
| CURRENT ASSETS | |||
| Cash at bank | 4,893 | 1,325 | |
| CREDITORS | |||
| Amounts falling due within one year | 8 | (8,636) | (12,230) |
| NET CURRENT ASSETS/(LIABILITIES) | (3,743) | (10,905) | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | (2,738) | (9,254) | |
| NET ASSETS/(LIABILITIES) | (2,738) | (9,254) | |
| FUNDS | 9 | ||
| Unrestricted funds | (2,738) | (9,254) | |
| TOTAL FUNDS | (2,738) | (9,254) |
The financial statements were approved by the Board of Trustees and authorised for issue on 9 July 2025 and were signed on its behalf by:
P Atkinson - Trustee
D Thomas - Trustee
The notes form part of these financial statements
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4ward Futures
Notes to the Financial Statements for the Year Ended 31 December 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, with the exception of investments which are included at market value.
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
Tangible fixed assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less and subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated, using the straight line method, to allocate the depreciation amount to their residual values over their useful lives as follows:
Computer equipment 33%
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.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
continued...
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4ward Futures
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Cash and cash equivalents
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the net asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value on the balance sheet and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
continued...
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4ward Futures
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Basic financial assets
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled..
2. DONATIONS AND LEGACIES
3.
| 31.12.24 | 31.12.23 | ||
|---|---|---|---|
| £ | £ | ||
| Donations | - | 8,050 | |
| INCOME FROM CHARITABLE ACTIVITIES | |||
| 31.12.24 | 31.12.23 | ||
| Activity | £ | £ | |
| Grants | Assisting young people with their careers | 45,236 | 42,801 |
| Grants received, included in the above, are as follows: | |||
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Keele University | - | 3,360 | |
| Inspiron Learning | - | 1,000 | |
| Next Gen Skills Limited | 1,500 | 1,000 | |
| Wrexham University | - | 2,250 | |
| UKRI STFC - Eyes to the Sky | - | 3,625 | |
| UKRI STFC - WATMO | 3,675 | 20,097 | |
| Royal Society of Chemistry | 7,600 | 1,514 | |
| University of Warwick | - | 2,500 | |
| Royal Academy of Engineering Ingenrious Awards | 16,296 | 7,455 | |
| Aerospace WalesForum Ltd | 11,625 | - | |
| Holy Family MAT - Ellesmere Port | 750 | - | |
| The Ogden Trust | 3,640 | - | |
| OOTIBOO CIC | 150 | - | |
| 45,236 | 42,801 |
continued...
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4ward Futures
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
5. INDEPENDENT EXAMINERS FEE
The Independent examiner's fee for 2024 was £948 (2023: £948).
6. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Computer | |
| equipment | |
| £ | |
| COST | |
| At 1 January 2024 and 31 December 2024 | 3,925 |
| DEPRECIATION | |
| At 1 January 2024 | 2,374 |
| Charge for year | 646 |
| At 31 December 2024 | 3,020 |
| NET BOOK VALUE | |
| At 31 December 2024 | 905 |
| At 31 December 2023 | 1,551 |
| FIXED ASSET INVESTMENTS | |
| Shares in | |
| group | |
| undertakings | |
| £ | |
| MARKET VALUE | |
| At 1 January 2024 and 31 December 2024 | 100 |
| NET BOOK VALUE | |
| At 31 December 2024 | 100 |
| At 31 December 2023 | 100 |
7. FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
continued...
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4ward Futures
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.12.24 | 31.12.23 | |||
| £ | £ | |||
| Trade creditors | 1,292 | - | ||
| Other creditors | 7,344 | 12,230 | ||
| 8,636 | 12,230 | |||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.24 | in funds | 31.12.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (9,254) | 6,516 | (2,738) | |
| TOTAL FUNDS | (9,254) | 6,516 | (2,738) | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 45,236 | (38,720) | 6,516 | |
| TOTAL FUNDS | 45,236 | (38,720) | 6,516 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.23 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (14,784) | 5,530 | (9,254) | |
| TOTAL FUNDS | (14,784) | 5,530 | (9,254) |
continued...
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4ward Futures
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 50,851 | (45,321) | 5,530 |
| TOTAL FUNDS | 50,851 | (45,321) | 5,530 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.1.23 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (14,784) | 12,046 | (2,738) |
| TOTAL FUNDS | (14,784) | 12,046 | (2,738) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 96,087 | (84,041) | 12,046 |
| TOTAL FUNDS | 96,087 | (84,041) | 12,046 |
continued...
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4ward Futures
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. RELATED PARTY DISCLOSURES
During the year, a person connected to a trustee received fees for bookkeeping services for both the charity and it's subsidiary of £2,145 (2023: £1,739).
During the year the Charity received a donation of £nil (2023: £8,050) from it's subsidiary company, 4F Innovations Limited.
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4ward Futures
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 31 December 2024 | |||
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | - | 8,050 | |
| Charitable activities | |||
| Grants | 45,236 | 42,801 | |
| Total incoming resources | 45,236 | 50,851 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Project costs | 2,255 | 3,692 | |
| Project consultancy | 27,841 | 31,445 | |
| 30,096 | 35,137 | ||
| Support costs | |||
| Management | |||
| Insurance | 1,132 | 1,097 | |
| Postage and stationery | 81 | 194 | |
| Sundries | - | 908 | |
| Training | 55 | 235 | |
| Computer Costs | 1,872 | 2,177 | |
| Travel Expenses | 980 | 1,605 | |
| Subscriptions | 252 | 337 | |
| 4,372 | 6,553 | ||
| Finance | |||
| Bank charges | 102 | 102 | |
| Other | |||
| Computer equipment | 646 | 385 | |
| Governance costs | |||
| Accountancy and legal fees | 2,556 | 2,196 | |
| Independent examiners fees | 948 | 948 | |
| 3,504 | 3,144 | ||
| Total resources expended | 38,720 | 45,321 | |
| Net income | 6,516 | 5,530 |
This page does not form part of the statutory financial statements
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