Charlty regI￿ratIon number 1185558 THE BILLINGTON FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 THE BILLINGTON FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms L Broadbent E Bunting J Greenwood Charlty number 118S5S8 Règlstèrèd offlce Cunard 8uilding Water Street Liverpool Mersey5ide L3 IEL Independent examlner Mltchell Charlesworth Suite5 C, D, E & F 14th Floor. The Plaza 100 Old Hall Street Llverpool England L3 9QJ Bankers Barclays Bank PLC Lelcester Leicestershire LE87 288 5oll¢ltors Bramhalls The Old Readin8 Room 76 Eastham Village Road Ea5tharn Village Wirral CH62 OAW THE BILLINGTON FOUNDATION CONTENTS Pagt Trustees. report Independent examiner's report Statement ol financial activities 8alance sheet Statement ol cash flgws Note5 to the financial staternents 7-12 THE BILLINGTON FOUNDATION TRU5TEES' REPORT FOR THE YEAR ENDED 31 AUGUST2024 The trustees present thelr annual report and financlal statements for the year ended 31 August 2024, The financlal statements have been prepared in accordance wlth the accounting policle$ Set out In note I to the flnantial 5taiements and comply wlth the charlty's governsng document. the Charities Art 2011 and "Accounting and Reporting by Charitie5.' Ststemertt of Recommended Practice appllcable to charitie5 prepadng thelr accounts In ac£ordante with the Flnanclal Aeporting Standard appliiable in the UK and Republic of Ireland IFRS 1021. leffectlve l January 20191. Object￿e5 oTh1 Our foundation believes ihat lamlly Is the bedrock of communriies and ol healthy soclwy. We believe thai glvin8 children and voun8 people a 8ood srart is the mosi effective way io improve our socleiy. The foundation wSI1 award 8rants to the fellef of poverty. educatlon. thè lurtheiin8 01 inierèsts ol and improving Ihe Ilves ol £hildien and ytsung pÈopl*. This year we have parinered wilh two charitles to provide real-life experlences. pracilcal a55151ance, and work opportunities for young people wlrh a strong emphasls on Improvln8 esseniial skllls. The aim is io ralse aspirations and provide a tomprehensive understandin8 of ernployer and further educatlon expettsilons, empowerlnl youn8 people to make infotmed dec151on5 about their career5 and education. To advance Such charitablo purpose according to the law of EnBland and WaFe5 a5 Ihe trustÈos see fit from time to time. but not limsted to advanclng in Ille and helpin6 younR people by developlng their s*llls, capaciiies and capabllities to enable them to parricipaie In sociery as Independeni, mature and responsible Indivlduals by partnerin8 wlth oiher charliable or8anlsatlon%. Publlc benefit The trustees ha¥e pald due fe8ard to 8uldance issued by the Charity Commisslon In decidin8 wh•t acllvrtles the charliy should undertake, Achlw•m•nts and wrfomianc• Signilicont octivities ond ochievements Ogttinst objectives Durin8 the year onded 31 August 2024 the Foundatlon Ideniified 2 charities with shared Vales who were dellverlng Intefventions that matched wilh the objerti¥e5 01 the Foundatlon. Fundln8 wa5 provided whilst we collaborated to develop Specific pro8rammes ￿fleCtIng all the objectives of the Foundatlon. 2023 -24 Charlt VFTON COURT INEWBURYI Ourdooi adventur8 ceniie provi dinq reside niiol ts¢tiviti*s to improve personel development loi artners ENDEAVOLIR ISHEFFIELOI Lonq.eslablished cha Iity woikinE with youn E people in tyieas of xocl41 deprivation- giving rhem betler opporiunitie8 whl le they are Blill In educatio n to support their %ucce%s in the future. ABOUTTHE CHAAirY 2023124 FUNDING 2023124 AGTIVITIY £16.000 Funding provided lo¥ The Ne?[ luci￿ty oi Ufton which offers support to children who have expeTieneed childhood Iruum4 &nd 8trugeLe in o Gla83100WII seiting. Their p rogrammes lielp to rebtsild self-¢onfidence and ieain moTe aboui ihem3elve3. E80.463 l %1 year ol iiew, ¥p¢cilicalLy desl£ned, Future Bound progrtsmme ihai support5 1LlfiJ2aL￿ who gTe stiuggiing in SGhool and need further support. There are 38 students on this 3- yeor programme. THE BILLINGTON FOUNDATION TRU5TEES' REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Flnanclal re¥lew Total irfcome for the year arnounted to £288,837 12023.. E284,7651. Total expeftditure omounted 10 £275.189 12023.. 114,9531. Overall. this has fesulted in a surplu5 for the year 01 £13,64812023..£169,8121. This resulted in a 5urplu5 of available unrestricted lund5 of £183,460 at the year end12023: £169.8121. ReseThes poIIcy It Is the policy ol the charity that unrestricted fynd5 which havo not been designated tor a specific use should be maintained at level equiv31ent to beiween three ènd slx month's expendiiyre. The irustees consider thai reserves ai ihis level will ensure thai, in the event ol a sl8nlflcant drop In lundin8. they wlll be able 10 coniinue the chafliy's curreni activitles while consbderatlon Is glven to ways In which addiilonal funds may be ralsed. Thls level ol reser¥ts has been malntalned throughout the year, Mojor risks The tTU5tees have a duty to Identlfy aftd revSew the rlsks to whlch the charlty Is ejtposeil and to ensufe appropdaie controls re in place to provlde reasonable a55vrance a￿inSt frdud and error. The trust monltors thè external envlronm*nt which infomis assessrnent ol potentlal rlsks. thèir Itvèl of fSnancial Impact and mitlBaiiThg actions. Thes¢ encomp45S 51rategic. Ilnanclal ind operjtlonal risks. This covers princlpal rlsks lacln8 ihe charity, Including. but not Ilmited to.. 1055 ol an imporiant partner Iprogramme dellvery partner and/or linanciall,. insulficleni lundlng to 5UPPOrt the operaiional plan,, salegvardln8 bfeaches,. and addiiional external bud8etary con5tralnts. Strudure, io¥trn4nco and mana8ement The charity Is tonstituied under a irvst deed and Is a Charitable Incorporated Or¥anisatlon number 1185558 re8lstered slnce 30 September 2019. In 2023 the FoundatSon appolnied an experSenced charliy professional to lead and manage the Foundatlon. The trusttes who served durin8 the yeaf and up to the date ol signature of the financial llattments were,. M5 L Broadbent E Buntin6 J Grèenwood Recrultment ond oppointment of lnistees TfU5tee5 are appolnted by a8reern?nt wlth the ex15ting trustees. The Foundation intend5 to expand the numbtr of trustees to 8 by 2025. Remunerotion policy Trusiees ol the Foundatlon recelve no remuneratlon lof thelr work, other than reimburtemenl of ba5Trc expense5. The trustees. rep)rt was approved bythe Board of frustees. M5L roadbent rrustoe 10 June 2025 THE BILLINGTON FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BILLINGTON FOUNDATION I report to the trustees on my examination of the financial statements of The Billington Foundation Ithe charity) for the year ended 31 August 2024. Re5ponsibilitie5 and basis of report As the trustee5 01 the charity you are responsible for the preparatlon of the fSnancSal statements In accordance wSth the requirements of the Charitie5 Act 2011 (the 2011 Actl. I report sn respect ol rny examlnatlon of the charity's flnancla1 statements carrled out under sectlon 145 of the 2011 Act. In carrylng out my examSnation I have followed all the applicable Direciions 8lven by the Charity Commisslon under section 14515llbl ol the 2011 Act. Independent e¥amlner's statement Since the charity's 8r05s income exceeded £250,000 your examiner rnu5t be a member of a body listed in section 145 ol the 2011 Act. I confirm that l am qualified to undertake the examination because l arn a rnember of the Institute of Chartered Accountants In En8land and Wales, whlch Is one of the Ilsied bodles. Your attention is drawn to the fact that the charity has prepared financial 5taternents in accordance with Accounting and Reporting by Charlties preparing their account5 In accordance with the Financial Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 1021 in preference to the Accountln8 and Reportin8 by Charitles.. Statement ol Recommended Practlce Issued on l April 2005 whSch is referred to in the extant re8ulatSons but has now been wlihdrawn. understand that this has been done in order lor financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beglnnln8 on or after I january 2015. have completed my examination. I confirm that no matters have come io my attention In connectlon with the examlnation Iving me cause to believe that in any rnaterial respect.. accountlng records were not kept in respect ol the charlty as required by section 130 of the 2011 Act.. or the financlal statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content ol account5 set out In the Charities (Accounts and Reportsl Regulations 2008 other than any requlrement that the accounts 8ive a true and falr vlew whlch Is not a matter consldered as part of an Independent examlnatlon. I have no concerns and have come acr055 no other matters in cgnnection with the examination to which attention Should be drawn in this report In order to enable a proper understandlns ol the financial ststements to be ￿a(hed. Louise Casey Mltthell Charlesworth Suites C, D. E & F 14th Floor, The Plaza 100 Old Hall Street Liverpool L3 9QJ England Dated.. IOJune 2025 THE BILLINGTON FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestrl¢ted funds Unrestrlrted funds 2023 2024 Note5 Incofflt from.. Donations and legacles 288,837 284,765 Total Income 288.837 284,765 Expendlture on: Ralsln8 funds 36,975 238.214 5,029 109,924 Total èxptndlturè 275.189 114,953 Net Income and movement In funds 13,648 169,812 Reconclllatlon of funds: Fund balance5 at I September 2023 169.812 Fund balance5 at 31 Au8ust 2024 183.460 169,812 The statement of financial actlvliies Includes all gains and losses recognlsed In the year. All Sncome and expenditure der5ves frtsrn continuing activities. The notes on pa8es 7 to 12 form part of these flnanclal statements. THE BILLINGTON FOUNDATION BALANCE 5HEEr AS AT31 AUGUST2024 2024 2023 Curr•ni •u•ts Debiors Cash at bank and In hand 70,640 144,456 175,397 215.096 131,6361 175.397 15,5851 Cr•dltors: amounti h111￿ du• ¥Athln on• y•ar io N¢t currnnt 45s•ts 183.460 169,812 N•1 ass•ts 183.460 169,812 The funds of the ch*rlty Unrestricted funds li 183.460 169,812 183.460 169,812 The notts on paBl￿ 7 10 12 form part of these flnancial statement5. The flnanclal statemenis were approved by the irusiees on 10 June 2025 Ms L Broadbent THE BILLINGTON FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flgws from operatlng a¢tl¥ltles Cash (absorbed byl18enerated from operations 14 130.9411 175,397 Net cash used In Investlnq a¢tlvltles Net cash used In financlng actlvlt5es Net Ide¢rea$ellln¢rease In cash and ¢ash equlvalents 130,9411 175,397 Cash and cash equivalents at beginning of year 175.397 Cash and Cash egulvalents at •nd of y•ar 144,456 175,397 The notes on page5 7 to 12 form part of these flnanclal statement5. THE BILLINGTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcles Charlty Inlormatlon The BlllSngton Foundation Is a charitable Incorporated or8anlsation, regISte￿d In ihe Unlted Kin8dom. The address of the principal office Is Cunard Building, LSverpool. L3 IEL. The nature of the charity's operations and printlpal activitles is described in the Trustees, Report on pages l and 2. 1.1 Accountlng ¢onventlon The financial 5t3tements have been prepared in accordance with the charity'5 governing document. the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I-FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reportlng Standard applicable In the UK and Republlc of Ireland IFRS 1021 leffectlve l January 20191. The charity Is a PublSc Beneflt Entlty as defined by FRS 102. The financial 5tatement5 have departed from the Charitie5 (Accounts and Report51 Re8ulations 2008 only to the extent required to provide a true and lair view. This departure has involved lollowins the Statement of Recommended Practice lor charlties applylng FRS 102 rather than the version of the Statement of Recommended Practlce which is referred to In the Re8ulatlons bui which has slnce been withdrawn. The fSnancSal statements are prepared in sterllng, whlch Is the functional currency of the charlty. Monetary amounts In these financial staternents are rounded to the nearest £. The flnanclal 5tatement5 have been prepared under the historical cost convention. The prlnclpal accountln8 pollcle5 adopted are set out below. 1.2 Goln8 concern At the time ol approving the financial statement5. the tru5tee5 have a reasonable expectation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the 8oln8 concern basls of accountln8 In preparln8 the financial statements. 1.3 Charltable fvnds Unrestrlcted funds are avallable for use at the dlscretlon of the trustees In furtherance ol thelr charStable oblectlves. Restricted fund5 are Subject to Specific conditions by donor5 or grantors 35 to how they may be used. The purposes and Uses of the restrlcted funds are set out In the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charitv 15 legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it 15 probable that income will be received. Cash donation5 are reco8ll15ed on receipt. Other donation5 are recognised once the charity ha5 been notified of the donation, unless performance condition5 require deferral of the arnount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. THE BILLINGTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles Icontlnuedl 1.5 Expendlture Expenditure 15 recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement. and the amount ol the oblisation can be measured reliablv. Expenditure is classified by activity. The costs of each actlvSty are made up of the total ol dlrect costs and shared costs, including 5UPPOrt C05t5 involved in undertaking each activity. Direct cost5 attributable to a sin8le activity are allocated directly to that activity. Shared costs which contribute to more than one activity and 5UPPOrt costs which are not attributable to a single activity are apportioned between those activities on a basis con51Stent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 C35h and cash equlvalents Cash and cash equlvalents include cash in hand, deposits held at call wlth banks, other short-term liquld investments with orl8inal maturSties ol three months or less, and bank overdrafts. Bank overdrafts are shown within borrowlngs In 1.7 Flnanclal Instruments The charity has elected to apply the provisions ol Section 11 '8aslc Financial Instruments. and Section 12 '0ther Financial In5trurnents 15sues' of FRS 102 to all of its financial instruments. Financial instruments are recognlsed in the charitv's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial a55et5 and liabilitie5 are offset. with the net amount5 presented in the financial statements, when there is a legally enforceable right to Set off the recogni5ed arnounts and there is an intention to settle on a net ba51s or to realist the asset and settle the liability 5imultaneouslv. oslcflnt7nclolossets 8asic financial assets, whlch include debtors and cash and bank balances, are Initially measured at transaction prlce includSn8 iransactlon costs and a￿ subsequently carried at amortised cost usin8 the effective interest method unless the arran8ement constitutes a financin8 transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate ol interest. Financial assets classified as receivable within one year are not arnort15ed. 80slcllnt7nclolllobllltle5 Basic financial liabilities, includin8 C￿ditorS are initially recognised at transaction price unless the arran8ement constitutes a financin8 transaction, where the debt instrument is measured at the present value of the future payments 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. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classifled as current liabllitles if payment Is due within one year or less. If not, they are presented a5 non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. L)erecognition offinanciulliobillties Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. THE BILLINGTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Intome from donatlons and legacles Unrtstrlctèd funds 2024 Unrestrltted lunds 2023 Donations and 8ift5 288.837 284,765 Expendlture on ralsln8 funds Unrestrlcted fund5 2024 Unrestrlrted funds 2023 Fundralsln8 and publlcltv Staging fundraising events Other fundraising costs 36.759 216 540 4,489 36,975 5,029 Expendlture on charltable actlvltl•s Charllable artlvltles 2024 Charlt?ble actlvStle5 2023 Dlr*ct costs Charitable expendlture Donatlons 111,134 96,463 65,779 27,771 207.597 93,550 Share of support and governance costs (see note 51 Support Governance 29,297 1.320 14,574 1,8CM) 238,214 109,924 Analysis by fund Unrestricted fund5 238.214 109,924 THE BILLINGTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Support cgsts allocatsd to actlvltles 2024 2023 Bank charges CRM system Marketin8 Recruitment Governance costs 413 381 950 4,584 9,609 16,568 11,366 1,320 1,8CMJ 30,617 16,374 Analysed between.. 30,617 16,374 Net movement In funds 2024 2023 The net movement In funds Ss stated after thargSng/lcredltSngl'. Fees payable for the independent examlnation of the charlty's flnanclal statements 1,320 1,8 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefit5 from the charitv during the year. Taxatlon Thè charity is exempt from taxation on its activities because all its income Is applled for charitable purposes. Debtors 2024 2023 Amounts falllng due wlihln one year: Trade debtors 70,640 10 Credltors.. amounts falllnl due wlthln one year 2024 2023 Accruals 31,636 5,585 10- THE BILLINGTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 li Unrestrlrted funds The unrestricted funds of the charity compr5se the unexpended balances ol donations and grants which are not subject to specific conditions by donors and grantor5 as to how they may be used. These include designated funds which have been set aside out ol unrestricted funds by the trustees for specific purposes. At I Septernber 2023 Incornin¥ re50urce5 Ile50ur(e5 expended At 31 August 2024 General funds 169.812 288,837 1275,1891 183,460 Prevlous year: At I September 2022 Incomlnl rèsources Resources •xpended At 31 Au6u$t Z023 General funds 284,765 1114,9531 169,812 12 Analysls ol net assets between fvnds Unrestrlrted fund5 2024 At 31 Aulust 2024: 183,460 183,460 Unrestrlrted funds 2023 At 31 August 2023: 169,812 169,812 13 Related pzrty transaciions There were no disclosable related party transactions during the year. 11 THE BILLINGTON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Cash generated from operatlons 2024 2023 Surplus for the year 13,648 169,812 Movement5 in working capital,. Ilncreasel in debtors Increase in creditors 170,6401 26,051 5,585 Cash (absorbed byll8enerated froffl operatlon5 130,9411 175,397 12-