Company re8lStration number: 11724915 IEn8land and Wales) Charity Registration number.. 1185960 QI FOUNDATION A COMPANY LIMITED BY GUARANTEE UNAUDITED REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 QI FOUNDATION REFERENCE AND ADMINISTRATIVE INFORMATION Trustees M Meads C Harden-sweetnam S Rowsell C Kramer Company number 11724915 Charity number 1185960 Prindpal IRegistered) Office 5th Floor Greener House 66-68 Haymarket London SWIY 4RF Independent Examiner SRLV Audit Limited E151ey Court 2￿22 Great Titchfield Street London WIW 8BE QI FOUNDATION CONTENTS Page Trustees, report Trustees. responsibllltles statement Independent examinerfs report Statement of ftnanclal activitles Balance sheet Notes to the accounts 9-10 11-14 QI FOUNDATION REPORT OF THE TRusfEES FOR THE PERIOD ENDED 31 DECEMBER 2021 The trustees (who are also dirertors of the charity for the purpose5 of company lawl present their réport and the financial statements of the charity for the period ending 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity'5 trust deed, the Charities Act 2011 and the Statement of Recommended Practice applicable to eharities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland. STRucfuRE, GOVERNANCE AND AGREEMENT A. CONSTITUTION The QI Foundation (the "Charit¢l was founded as a registered charity Inumber 11859601 in 2018. The charity was created specifically for the public benefit to prevent or provide relief from sickness, disease or human suffering by assisting vulnerable adult members of the publi¢ in Oxfordshire. Berkshire and Buckingham5hire. . MFfHOD OF APPOINTMENT AND ELEcfioN OF TRUSTEES All trustees were appointed upon constitution of the trust deed. The trustees may appoint new trustees from outside the current and retiring board of trustees. C. POLICIES ADOPTED FOR THE INDucfioN AND TRAINING OF TRUSTEES Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Specific training is conducted as part of a board meeting where appropriate. OBJECtIVES AND A￿1VITIEs A. POLICIES AND OBJEcfivES The charity's objectives and policies include,. Assisting by helping vulnerable adults access financial programmes and charitable grants to fully or partially fund the cost of in-home care visits Signposting to local providers of support services and outreach Community Navigator services to visit vulnerable adult members of the public Supporting vulnerable adult members of the public to access local areas for essential living activities such as shopping and doctors visits Supporting Dementia and Alzheimer's awarene55 and education in the local community and through local school's programmes Working alongside local healthcare providers to reduce the reliance on the NHS by offering vulnerable adult members of the public access to other support services locally QI FOUNDATION REPORT OF THE TRUSTEES (contlnued) FOR THE PERIOD ENDED 31 DECEMBER 2021 Raise awareness and promote sUPPOrting vulnerable adults through volunteering services and offering training programmes to support volunteers Promote training and development programmes for professional and volunteer care workers by holding local networking events for stakeholders in the community STRATEGIC REPORT A. STRATEGIC REPORT The Foundation has taken advantage of the small companie5 exemptions provided by Section 415A ofthe Companies Act 2006 and for this rea50n no Strategic Report is included. B. ACHIEVEMENTS AND PERFORMANCE The company was incorporated In December 2018, and received charitable status in October 2019. The Charity has focused large portions of their time on ensuring the appropriate systems, Controls and safe guarding policies are in place. With these controls now in place, the tru5tee5 will focus on how best to utilise the donations received to meet the objectives of the Foundation. The trustees have developed a strategic p5an, with identified obje¢tives, and an implementation strategy to guide the charity's direction, and recruited a manager to assist with the delivery of the objectives. The charity is also benefiting from the support of a growing number of volunteers who are contributingtothe charity's work. The charityhas secured a number of grantstosupport its work in the community. C. REVIEW OF AcfiviTIES The results of the charity's activities are summarised on page 4. FINANCIAL REVIEW A. FINANCIAL AND RISK MANAGEMENT OBJECTIVES AND POLICIES The QI Foundation had net incoming resources of £4,039 {2020: £5,627) for the year ended 31 December 2021. B. PRINCIPAL RISKS AND UNCERTAINTIES The tru5tee5 have considered the major risks to which the charity is exposed and have reviewed these risks and establlshed systems and procedures to manage those risks. As part of this proce55 the trustees are pleased to report that the charity's internal financial controls, in particular, comply in all relevant areas with guidelines issued by the Charity Commission. C. RESERVES POLICY The trustees aim to malntain reserves at a level that would cover any future commitments of the charity. QI FOUNDATION REPORT OF THE TRUSTEES (continued) FOR THE PERIOD ENDED 31 DECEMBER 2021 OBJEcfivES AND AcfiviTIES FOR THE PUBLIC BENEFIT The primary objectives of the Foundation are to.. A55iSting by helping vulnerable adults access financial programmes and charitable grants to fully or partially fund the cost of in-home care visits Signposting to local providers of support services and outreach Community Navigator services to visit vulnerable adult members of the public Supporting vulnerable adult members of the public to access local area5 for essential living activities such as shopping and doctors visits Supporting Dementia and Alzheimerfs awareness and education in the local communitv and through local school's programmes Work alongside local healthcare providers to reduce the reliance on the NHS by offering vulnerable adult members of the public access to other SL¢PPOrt services locally Raise awareness and promote supporting vulnerable adults through volunteering services and offeringtraining programmes to support volunteers Promote training and development programmes for professional and volunteer care workers by holding local networkin8 events for stakeholder5 in the community FUNDS STRUCTURE The QI Foundation receives funds from third party donor5, publicly available grants and local fundraising initiatives. These funds allow the Foundation to carry out rvs charitable objectives offering support to vulnerable adults in Oxfordshire, Berkshire and Buckinghamshire. PLANS FOR FiJfuRE PERIODS The funding of the charity will continue to be reviewed. Due to the impact of the pandemic, the trustee5 agreed to refocus efforts from face-to-face events and support forthe older population, to wide-reaching community support, including the older, isolated and vulnerable which brings new funding opportunities and demands. The trustees also plan to begin taking online and text donations from the general public, and running appeals and fundraising events within the local community, as well as requesting in-kind support. QI FOUNDATION REPORT OF THE TRUSTEES (continued) FOR THE PERIOD ENDED 31 DECEMBER 2021 TRUSTEES The trustees who served during the year were: M Meads C Harden-sweetnam S Rowsell C Kramer SMALL COMPANIES In preparing this report, the trustees have taken advantage of the small companies exemption5 provided by section 415A ofthe Companies act 2006, Approved by the trustees on 20July 2022 and signed on their behalf by: M Meads QI FOUNDATION TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021 The tru5tee5 (who are also directors of QI Foundation for the purposes of company lawl are responsible for preparing the trustee's report and the financial Statements in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied they give a true and fair view of the State of affairs of the charitable company and of the 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.. select suitable accounting policies and then apply them consistentlv; observe the methods and principles of the Charities SORP,. make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards IFRS 102} have been followed, subject to any departures disclosed and explained in the financial statement5, and,. notify its trustees in writing about the use of disclosure exemptions, if any, of FRS 102 Used in the preparation of financial statements,. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to Show and explain the charitable company's transactions and 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 Company's Act 2006, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsiblè for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and dete¢tion of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charrtable company's and financial information included on the charity's website. **Ql FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE Q1 FOUNDATION** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** I report on the financial statements of the charity for the year ended 31 December 2021 which are set out on pages 8 to 14. The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102 lA) in preference to the Accounting and Reporting Standards by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the regulations but has been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2016. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to an audit under charity or company law and is eligible for independent examination, it is my responsibility to: - examine the financial statements under section 145 of the Act; - follow procedures laid down in the general directions given by the Charity Commission under section 145 (5)(b) of the Act; and; - state whether particular matters have come to my attention. ## **BASIS OF INDEPENDENT EXAMINER'S REPORT** 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as 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 financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below. 6 ## **Ql FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE Q1 FOUNDATION (continued)** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## **INDEPENDENT EXAMINER'S STATEMENT** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006;and - to prepare financial statements which accord with the accounting records, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respects comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. ## **USE OF OUR REPORT** This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's trustees those matters that 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 charity and the charity's trustees as a body, for my work or for this report, or for the opinions I have formed. Signed: Richard Gilbert For and on behalf of **SRLV Audit Limited** Chartered Accountants Eisley Court 20-22 Great Titchfield Street London W1W8BE Dated: 26 July 2022 7 QI FOUNDATION STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestritted Funds Restricted Funds Total Funds 2021 Total Funds 2020 Note Incomlng resources Donations and legacie5 41,100 16,050 57,150 40,724 Charltable activities 210 397 607 1,213 Other io io 128 Total incoming resource5 41,320 16,447 57.767 42,065 Net resources avallable for tharltable appllotlon 41,320 16,447 57,767 42,065 Resources expended Charitable activities 34,149 9,244 43,393 18,367 Support ¢ost5 731 9,604 10.335 18,071 Total resources expended 34,880 18,848 53,728 36,438 Movement in totsl funds forthe year- net income/(resourcesl for the year 6,440 12,4011 4,039 5,627 The notes on pages 11 to 14 form part of these financial statements. QI FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2021 Total 2021 Total 2020 Unrestricted Restricted Note Current assets Cash at bank 16,911 2,747 19,658 14,927 Debtors 231 231 369 17.142 2,747 19,889 15,296 Creditors falling due wlthln one year Total assets less current liabilities 7,433 7,433 4,458 9,709 2,747 12,456 10,838 Funds Restricted io 2,747 2,747 5,148 Unrestricted Total Funds li 9,709 9,709 9,709 12,456 5,690 10,838 2,747 The trustees considerthat the charity is entitled to exemption from the requirement to have an audlt under the provisions of section 477 of the Companies Act 2006 {"the Art"} and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. QI FOUNDATION BALANCE SHEEf (continued) AS AT 31 DECEMBER 2021 The trustees acknowledge their responsibilities for complying with the requirement5 of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the charity as of 31 December 2019 and of its net incoming resources for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirement5 of the Companies Act 2006 relating to financial statements, so far as applicable to the charity. The financial statement5 have been prepared in accordance with the provisions applicable to small companies within Part IS ofthe Companies Act 2006 and in accordance with the provisions of FRS 102 Section IA- small entities. The financial statements were approved by the trustees on 20 July 2022 and signed on their behalf, by: M Meads Trustee The notes on pages 11 to 14 form part ofthe5e financial statements, io QI FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES a) Basls of preparatlon The financial statements have been prepared under the historical cost convention. and in accordance with Section IA of the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102) leffe¢tive l January 20151, the Statement of Recommended Practice applicable to charities (Charities SORP IFRS10211, applicable accounting standards and the Companies Act 2006. The QI Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unle55 otherwise stated in the relevant accounting policy. The charity is a company limited by guarantee. In the event of the Company being wound up each member will contribute a sum not exceeding £10, bl Golng concem The impact of the uncertainty arising from the COVID-19 virus is assessed on a regular basis. The directors believe that the company has sufficient cash reserves to cover all liabilities that may fall due for at least 12 months from the balance sheet date. c) Incomlng resources All incoming resources are reeognised once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resource5 can be measured with sufficient reliability. Incoming resources include receipts from functions, donation5 and receipts under gift aid. d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustee5 in furtherance of the general objectives of the Charity and which have not been designated for other purposes. e) Resources expended Liabilities are recognised as resources Èxpended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is a¢¢ounted for on an accruals basis and has been classified under headings that aggregate all costs related to that Category li QI FOUNDATION NOTES TO THE ACCOUNTS (continued) FOR THE PERIOD ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES lcontlnued) n Support costs Support costs comprise costs related to the general running of the charity. These costs include costs related to the insurance and banking ¢0st5. gl Realised gains and losses All gains and losses are taken to the statement of financial activities as they arise. h) Cash flow The financial statements do not include a statement of cash flows because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Section IA of the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effe¢tive l January 20151. DONATIONS AND LEGACIES Unrestricted income from donations in 2021 was £41,10012020: £26.1001 and restricted income was £16,05012020'. £14,624}. GRANT INCOME Unrestrlcted Restricted Total 2021 Total 2020 Note Grants 16,050 16,050 25,335 2022 Funder Purpose Connect Fund Befriending scheme Streatley Consolidated Charities Hardship support Lottery Grant Covid Support Hardship Grant Hardship Support- south emergency BCF Vitality Grant Hardshiplcovid support Lions Den Grant Laptop Purchase Older persons SUPPOrt Covid transport /South Oxfordshlre 2,470 135 269 4,879 1,000 500 4,930 1,867 16,050 BCF Older Persons Grant South Transportation Grant Total The Foundation received Small Business Rates Relief and discretionary rates relief. 12 QI FOUNDATION NOTES TO THE ACCOUNTS Icontinued) FOR THE PERIOD ENDED 31 DECEMBER 2021 CHARITABLE AcfiviTIES 2021 2020 Staff costs Community Services 23,081 20.312 43,393 11,621 6.746 18,367 SUPPORT COSTS 2021 2020 Premises costs Audit and Accounting Fees Office costs Advertising and marketing Insurance Bank charges Other 1,450 1,500 5,276 15,085 1,738 150 949 149 1,756 271 82 10,335 18,071 NET INCOMING RESOURCES/ IRESOURCE5 EXPENDED) During the year, no trustees received any remuneration, benefits in kind or reimbursement of expenses. T￿YATIoN The QI Foundation is a registered charity and is thus exempt from tax on income and capital gains falling within chapter 3 of Part11 to the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax eharges have arisen in the company. DEBTORS Unrestricted Restrlcted 2021 2020 Debtors 2(M) 200 20 Prepayments 31 31 349 231 231 369 13 QI FOUNDATION NOTES TO THE ACCOUNTS (continued) FOR THE PERIOD ENDED 31 DECEMBER 2021 CREDITORS Unrestrirted Restritted 2021 2020 Trade creditors 7,074 7,074 3,923 Accruals 359 359 535 7,433 7,433 4,458 10. UNRESTRICTED RESERVE FUNDS 2021 2020 General fund brought forward Income Expenditure Working Capital Movement General fund carried forward 5,690 41,320 (34,8801 12,4211 9,709 5,211 26,730 126,251) 5,690 11. RESTRICTED RESERVE FUNOS 2021 2020 Restricted fund brought forward Income Expenditure Restricted fund carried forward 5.148 16,447 118,8481 2,747 15,335 110,1871 5,148 12. INDEPENDENT EXAMINERS, REMNUERATION The independent examinerfs remuneration amount for the independent examination totalled £2,20012020'.- £2.2001 13. RELATED PARTY TRANSAcfioNS During the year QI Care Ltd, a company with directors in common, recharged costs of £38,30712020- £28,4941 to QI Foundation Ltd, and donated fund5 of £O12020- £15,0￿1. At the year end. £6,472 12020- £3,4941 was owed to QI Care Ltd. 14. CONTROLLING PARTY There is no controlling party. 14