**Charity registration number 1185558 (England and Wales)**
## **THE BILLINGTON FOUNDATION**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2025**
## **THE BILLINGTON FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|L Broadbent|
|---|---|
||E Bunting|
|**Charity number**|1185558|
|**Registered office**|Cunard Building|
||Water Street|
||Liverpool|
||Merseyside|
||L3 1EL|
|**Independent examiner**|Mitchell Charlesworth|
||Suites C,D,E, & F|
||14th Floor The Plaza|
||100 Old Hall Street|
||Liverpool|
||L3 9QJ|
|**Bankers**|Barclays Bank PLc|
||Leicester|
||Leicestershire|
||LE87 2BB|
|**Solicitors**|Bramhalls|
||The Old Reading Room|
||76 Eastham Village Road|
||Eastham Village|
||Wirral|
||CH62 0AW|
## **THE BILLINGTON FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 11|
## **THE BILLINGTON FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
The trustees present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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).
## **Objectives and activities**
Our foundation believes that family is the bedrock of communities and of healthy society. We believe that giving children and young people a good start is the most effective way to improve our society. The foundation will award grants to the relief of poverty, education, the furthering of interests of and improving the lives of children and young people.
This year we moved into the second year of our Future Bound program working with a charity based in Sheffield, Endeavour, to provide real-life experiences, practical assistance, and work opportunities for young people with a strong emphasis on improving essential skills. The aim is to raise aspirations and provide a comprehensive understanding of employer and further education expectations, empowering young people to make informed decisions about their careers and education.
In addition, the foundation re-established itself as a grant giving charity and selected 7 new charity partners to allocate funds. These charity partners already carry out incredible work to advance the lives of young people in the geographic locations of Edward Billington & Son Ltd who are the most significant donor to the foundation. This move has broadened the foundations reach, allowing for increased local fundraising and volunteering opportunities. The set up of these partnerships has been a 2024.25 focus and donations to these charity partners largely begin within our 2025.26 financial year, with the exception of a time-bound payment made to Cash for Kids specifically for preparation of their Mission Christmas.
To advance such charitable purpose according to the law of England and Wales as the trustees see fit from time to time but not limited to advancing life and helping young people to develop their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals by partnering with other charitable organisations.
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
- 1 -
## **THE BILLINGTON FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Achievements and performance**
## _Significant activities and achievements against objectives_
During the year ended 31 August 2025 the Foundation, continued to work with one and established relationships with 7 new charity partners identified with shared values who were delivering services or interventions that matched with the objectives of the Foundation. Funding was provided to these charities as follows:
## **2024–25 Charity partners**
- 2 -
## **THE BILLINGTON FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **Financial review**
Total income for the year amounted to £195,336 (2024: £288,837). Total expenditure amounted to £100,229 (2024: £275,189). Overall, this has resulted in a surplus for the year of £95,107(2024:£13,648). The total unrestricted funds at the year end were £278,567 (2024: £183,460).
## **Reserves policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Major risks**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trust monitors the external environment which informs assessment of potential risks, their level of financial impact and mitigating actions. These encompass strategic, financial and operational risks.
This covers principal risks facing the charity, including, but not limited to: loss of an important partner (programme delivery partner and/or financial); insufficient funding to support the operational plan; safeguarding breaches; and additional external budgetary constraints.
## **Structure, governance and management**
The charity is constituted under a trust deed and is a Charitable Incorporated Organisation number 1185558 registered since 30 September 2019.
The trustees who served during the year and up to the date of signature of the financial statements were:
L Broadbent
E Bunting J Greenwood (Resigned 14 September 2025)
## **Recruitment and appointment of trustees**
Trustees are appointed by agreement with the existing trustees. In 2025.26 we will concentrate on appointing a Trustee to the Board of Trustees following the departure of J Greenwood. We would like to take this opportunity to thank J Greenwood for her support of the foundation and wish her all the best for the future.
## **Remuneration policy**
Trustees of the Foundation receive no remuneration for their work, other than reimbursement of basic expenses.
The trustees' report was approved by the Board of Trustees.
L Broadbent **Trustee**
18 June 2026
- 3 -
## **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 (the charity) for the year ended 31 August 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Louise Casey
## **Mitchell Charlesworth**
Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ
Dated: 18 June 2026
- 4 -
## **THE BILLINGTON FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**2**|195,336|288,837|
|**Total income**||195,336|288,837|
|**Expenditure on:**||||
|Raising funds|**3**|1,210|36,975|
|Charitable activities|**4**|99,019|238,214|
|**Total expenditure**||100,229|275,189|
|**Net income and movement in funds**||95,107|13,648|
|**Reconciliation of funds:**||||
|Fund balances at 1 September 2024||183,460|169,812|
|**Fund balances at 31 August 2025**||278,567|183,460|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
The notes on pages 7 to 11 form part of these financial statements.
- 5 -
## **THE BILLINGTON FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2025**_
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**10**
**Net current assets**
**The funds of the charity**
Unrestricted funds
**11**|**2025**
**£**
220,000
61,512
281,512
(2,945)|**£**
278,567
278,567
278,567|**2024**
**£**
70,640
144,456
215,096
(31,636)|**£**
183,460|
|---|---|---|---|---|
|||||183,460|
|||||183,460|
The notes on pages 7 to 11 form part of these financial statements.
The financial statements were approved by the trustees on 18 June 2026
L Broadbent **Trustee**
- 6 -
## **THE BILLINGTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
## **Charity information**
The Billington Foundation is a charitable incorporated organisation, registered in the United Kingdom. The address of the principal office is Cunard Building, Liverpool, L3 1EL. The nature of the charity's operations and principal activities is described in the Trustees' Report on pages 1 and 2.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted 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 charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
## **THE BILLINGTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is 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 of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent 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 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7 Financial instruments**
The charity 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 charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
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 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 cost 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.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors 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 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 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 charity’s contractual obligations expire or are discharged or cancelled.
- 8 -
## **THE BILLINGTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**2**|**Income from donations and legacies**|||
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Donations and gifts|195,336|288,837|
|**3**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Fundraising and publicity**|||
||Staging fundraising events|-|36,759|
||Other fundraising costs|1,210|216|
|||1,210|36,975|
|**4**|**Expenditure on charitable activities**|||
|||**Charitable**|**Charitable**|
|||**activities**|**activities**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Charitable expenditure|17,844|111,134|
||Donations|77,720|96,463|
|||95,564|207,597|
||**Share of support and governance costs (see note 5)**|||
||Support|1,715|29,297|
||Governance|1,740|1,320|
|||99,019|238,214|
||**Analysis by fund**|||
||Unrestricted funds|99,019|238,214|
- 9 -
## **THE BILLINGTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2025**_
|**5**
**Support costs allocated to activities**
Bank charges
CRM system
Marketing
Recruitment
Website
Governance costs
**Analysed between:**
Charitable activities
**6**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements|**2025**
**£**
192
-
-
-
1,523
1,740
3,455
3,455
**2025**
**£**
1,980|**2024**
**£**
413
950
16,568
11,366
-
1,320|
|---|---|---|
|||30,617|
|||30,617|
|||**2024**
**£**
1,320|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Debtors**
|**9**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Trade debtors
**10**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2025**
**£**
220,000
**2025**
**£**
2,945|**2024**
**£**
70,640|
|||**2024**
**£**
31,636|
- 10 -
## **THE BILLINGTON FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2025**_
## **11 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 September**|**Incoming**|**Resources**|**At 31 August**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|183,460|195,336|(100,229)|278,567|
|**Previous year:**|**At 1 September**|**Incoming**|**Resources**|**At 31 August**|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|169,812|288,837|(275,189)|183,460|
## **12 Analysis of net assets between funds**
||**Unrestricted**|
|---|---|
||**funds**|
||**2025**|
||**£**|
|**At 31 August 2025:**||
|Current assets/(liabilities)|278,567|
||278,567|
||**Unrestricted**|
||**funds**|
||**2024**|
||**£**|
|**At 31 August 2024:**||
|Current assets/(liabilities)|183,460|
||183,460|
## **13 Related party transactions**
Edward Billington and Son Limited is a related party of the Foundation by way of significant influence. The company has influence through their provision of funding. During the year Edward Billington and Son Limited donated £180,000 (2024: £220,000).
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