Company registration number: 11724915 (England and Wales) Charity Registration number: 1185960 ## **Q1 FOUNDATION** ## **A COMPANY LIMITED BY GUARANTEE** ## **UNAUDITED** ## **REPORT AND FINANCIAL STATEMENTS** **YEAR ENDED 31 DECEMBER 2022** **Q1 FOUNDATION** ## **REFERENCE AND ADMINISTRATIVE INFORMATION** ## **Trustees** M Meads C Harden-Sweetnam S Rowsell C Kramer ## **Company number** 11724915 ## **Charity number** 1185960 ## **Principal (Registered) Office** 5[th] Floor Greener House 66-68 Haymarket London SW1Y 4RF ## **Independent Examiner** Beeston-Clarke Accountants Ltd 242 Leicester Road Markfield Leicestershire LE67 9RG ## **Q1 FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |**Trustees’ report**|**1 – 7**| |**Trustees’ responsibilities statement**|**8**| |**Independent examiner’s report**|
**9**| |**Statement of financial activities**|**10**| |**Balance sheet**|**11 – 12**| |**Notes to the accounts**|**13 – 18**| ## **Q1 FOUNDATION** ## **REPORT OF THE TRUSTEES** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** The trustees (who are also trustees of the charity for the purposes of company law) present their report and the financial statements of the charity for the period ending 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland. ## **STRUCTURE, GOVERNANCE AND AGREEMENT** ## **A. CONSTITUTION** The Q1 Foundation (the “Charity”) was founded as a registered charity (number 1185960) 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 public in Oxfordshire, Berkshire and Buckinghamshire. ## **B. METHOD OF APPOINTMENT AND ELECTION 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 INDUCTION 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 ACTIVITIES** ## **A. POLICIES AND OBJECTIVES** 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 awareness 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 4 ## **Q1 FOUNDATION** ## **REPORT OF THE TRUSTEES (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** - 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 companies exemptions provided by Section 415A of the Companies Act 2006 and for this reason 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 trustees will focus on how best to utilise the donations received to meet the objectives of the Foundation. The trustees have developed a strategic plan, with identified objectives, 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 contributing to the charity’s work. The charity has secured a number of grants to support its work in the community. ## **FINANCIAL REVIEW** ## **A. PERFORMANCE** The Q1 Foundation had net outgoing resources of £1,084 (2021: Incoming resources of £1,637) for the year ended 31 December 2022. ## **B. PRINCIPAL RISKS AND UNCERTAINTIES** The trustees have considered the major risks to which the charity is exposed and have reviewed these risks and established systems and procedures to manage those risks. As part of this process 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 maintain a £5,000 reserve, a level that would cover any near term future commitments of the charity. 5 ## **Q1 FOUNDATION** ## **REPORT OF THE TRUSTEES (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** The primary objectives of the Foundation are to: - 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 awareness and education in the local community 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 support services locally - 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 ## **FUNDS STRUCTURE** The Q1 Foundation receives funds from third party donors, publicly available grants and local fundraising initiatives. These funds allow the Foundation to carry out its charitable objectives offering support to vulnerable adults in Oxfordshire, Berkshire and Buckinghamshire. ## **PLANS FOR FUTURE PERIODS** The funding of the charity will continue to be reviewed. Due to the impact of the pandemic, the trustees agreed to refocus efforts from face-to-face events and support for the 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. 6 QI FOUNDATION REPORT OF THE TrUSTEES (conilnued) FOR ThE PERIOD ENDED 31 DECEMBER 2022 TrU5TEES Thetru5tee5who s•r¥*d durkn8 the were: M Meads C Harden-sweetnam S Ilowsell C Kramer SMALL COMPANIE5 In prèparlngthls report. th¢ trustees have taken advant•8e of the 5rn•11 tompanles •xemptlons pro￿ded by sertbn 415A ofthe Comp•nle5 Jrt 2¢￿. Appfthd by the trU￿et$ on 12 Oclober 2023 •rKI s*ed ¢)n thelr behaKby: M Mèads ## **Q1 FOUNDATION** ## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** The trustees (who are also trustees of Q1 Foundation for the purposes of company law) are responsible for preparing the trustee’s 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. 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 consistently; - observe the methods and principles of the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards (FRS 102) have been followed, subject to any departures disclosed and explained in the financial statements, 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 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charitable company’s and financial information included on the charity`s website. 8 **Q1 FOUNDATION** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE Q1 FOUNDATION** ## **FOR THE YEAR ENDED 31 DECEMBER 2022** 12 October 2023 9 ## **Q1 FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES** (including Income & Expenditure Account) ## **FOR THE YEAR ENDED 31 DECEMBER 2022** |**Note**
**Incoming resources**
Donations and legacies
2,3
Charitable activities
Other
**Total incoming resources**
**Net resources available for**
**charitable application**
**Resources expended**
Charitable activities
4
Support costs
5
**Total resources expended**
**Movement in total funds**
**for the year – net**
**income/(resources) for the**
**year**
6
**Funds as at 31 December 2021**
**Funds as at 31 December 2022**|**Unrestricted**
**Funds**
**£**
38,361
5,379
70
43,810
43,810
36,053
9,030
45,083
(1,273)
12,110
10,837|**Restricted**
**Funds**
**£**
20,617
-
-
20,617
20,617
19,114
1,314
20,428
189
345
534|**Total**
**Funds**
**2022**
**£**
58,978
5,379
70
64,427
64,427
55,167
10,344
65,511
(1,084)
12,455
11,371|**Restated**
**Total**
**Funds**
**2021**
**£**
54,748
607
10| |---|---|---|---|---| |||||55,365| |||||55,365| |||||43,393
10,335| |||||53,728| |||||1,637| |||||| The notes on pages 13 to 18 form part of these financial statements. 10 ## **Q1 FOUNDATION** ## **BALANCE SHEET** ## **AS AT 31 DECEMBER 2022** ## **Company number 11724915 (England)** |**Note**
**Current assets**
Cash at bank
Debtors
8
**Creditors falling due within**
**one year**
9
**Total assets less current**
**liabilities**
**Funds**
Restricted
10
Unrestricted
11
**Total Funds**|**Unrestricted**
**£**
15,413
2,003
17,416
6,579
10,837
-
10,837
10,837|**Restricted**
**£**
534
-
534
-
534
534
-
534|**Total**
**2022**
**£**

15,947
2,003
17,950
6,579
11,371

534
10,837
11,371|**Restated**
**Total**
**2021**
**£**
19,658
231| |---|---|---|---|---| |||||19,889| |||||7,434| |||||12,455| |||||345
12,110| |||||12,455| The trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 11 ql FOUNDATION BALANCE SHEEf (contlnued) AS AT 31 DECEMBER 2022 Company number 11724915 (England) The trustees acknowledge thelr responslbilttles for complylng wlth the requlrements of the Companies Act 21YJ6 wlth respect to accountln8 records and for preparin8 financial statements whlch 8ive a true and fair vlew of the state of affairs of the charlty as of 31 December 2022 and of Its net Incoming resources for the year In accordance with the requirements of sections 394 and 395 of the Art and whlch otherwlse compty wlth the requlrements of the Companles Art 2006 relatlngto financlal ststements, so far as applicable to the charity. The financlal statements have been prepared in accordance wlth the prov15k)ns appllcable to small companleswithln Part IS of the Companles Act 2￿6 and In accordance w￿h the provlslons of FRS 102 Sectlon IA- small entltles. The financlal staternents were approved by the trustees on 12 Ortober 2023 and 518ned on thelr behalf, by: M Meads Trt￿tee The notes on pages 13 to 18 fomi part of these financlal statements. 12 ## **Q1 FOUNDATION** ## **NOTES TO THE ACCOUNTS** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **1. ACCOUNTING POLICIES** ## **a) Basis of preparation** - The financial statements have been prepared in accordance with the charitable company's memorandum and articles of association, the Companies Act 2006, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), 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 issued in October 2019, UK Generally Accepted Accounting Practice and applicable charity and company law. The charitable company is a Public Benefit Entity as defined by FRS102. The charitable company has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. The Q1 Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless 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. ## **b) Going concern** The trustees 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) Incoming resources** All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. Incoming resources include receipts from functions, donations and receipts under gift aid. ## **d) Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the trustees 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 expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for 13 **Q1 FOUNDATION** ## **NOTES TO THE ACCOUNTS (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **1. ACCOUNTING POLICIES (continued)** on an accruals basis and has been classified under headings that aggregate all costs related to that category. ## **f) Support costs** Support costs comprise costs related to the general running of the charity. These costs include costs related to the insurance and banking costs. ## **g) Realised gains and losses** All gains and losses are taken to the statement of financial activities as they arise. ## **h) Restatement of prior year** The restatement relates entirely to timing differences where the transactions were not recognised in the correct financial year. ## **2. DONATIONS AND LEGACIES** Unrestricted income from donations in 2022 was £38,361 (2021: £41,100) and restricted income was £20,617 (2021: £13,648). 14 ## **Q1 FOUNDATION** ## **NOTES TO THE ACCOUNTS (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **3. GRANT INCOME** |**Note**
**Unrestricted**
**£**
**Restricted**
**£**
**Grants**
-
20,617
**2022**
**Funder**
**Purpose**
South Transportation Grant
Covid transport /South Oxfordshire
Goring Gap News Grant
Increased Awareness Program
Co-Op Grant
Hardship support
Greenham Trust Grant
Increased Awareness Program
George Michael Legacy Project
Hardship support
National Lottery Fund
The Hub Support
Streatley Consolidated Charities Hardship support
Total||**Total**
**2022**
**£**
**Restated**
**Total**
**2021**
**£**
20,617
13,648
**£**
13
683
2,441
6,248
1,300
9,832
100
20,617| |---|---|---| The Foundation received Small Business Rates Relief and discretionary rates relief. ## **4. CHARITABLE ACTIVITIES** |**2022**
**£**
Staff costs
31,942
Community Services
23,225
55,167
**Average number of employees**
**2**
**There were no employees whose annual remuneration was £60,000 or more**|**Restated**
**2021**
**£**
23,081
20,312| |---|---| ||43,393| ||**0**| 15 ## **Q1 FOUNDATION** ## **NOTES TO THE ACCOUNTS (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **5. SUPPORT COSTS** |Premises costs
Audit and Accounting Fees
Office costs
Insurance
Bank charges
Other|**2022**
**£**
1,512
2,355
4,203
1,863
288
123
10,344|**Restated**
**2021**
**£**
1,450
1,500
5,276
1,756
271
82
10,335| |---|---|---| ## **6. NET INCOMING RESOURCES/ (RESOURCES EXPENDED)** During the year, no trustees received any remuneration or benefits in kind. Trustees received reimbursement of expenses totalling £2,030 (£1,129 2021). ## **7. TAXATION** The Q1 Foundation is a registered charity and is thus exempt from tax on income and capital gains falling within chapter 3 of Part II 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 charges have arisen in the company. ## **8. DEBTORS** |Debtors
Prepayments|**Unrestricted**
**£**
200
1,803
2,003|**Restricted**
**£**
-
-
-|**2022**
**£**
200
1,803
2,003|**Restated**
**2021**
**£**
200
31| |---|---|---|---|---| |||||231| 16 ## **Q1 FOUNDATION** ## **NOTES TO THE ACCOUNTS (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **9. CREDITORS** |Trade creditors
Accruals
Other Creditors|**Unrestricted**
**£**
4,573
1,949
57
6,579|**Restricted**
**£**
-
-
-
-|**2022**
**£**
4,573
1,949
57
6,579|**Restated**
**2021**
**£**
7,074
359
-| |---|---|---|---|---| |||||7,434| ## **10. UNRESTRICTED RESERVE FUNDS** |General fund brought forward
Income
Expenditure
General fund carried forward|**2022**
**£**
12,110
43,810
(45,083)
10,837|**Restated**
**2021**
**£**
5,670
41,320
(34,880)
12,110| |---|---|---| ## **11. RESTRICTED RESERVE FUNDS** |**Funds Movements**
**Restricted Funds**
Streatley Consolidated
Charities
South Transportation Grant
Goring Gap News Grant
Co-Op Grant
Greenham Trust Grant
George Michael Legacy Project
National Lottery Fund
Streatley Consolidated
Charities
**Total**|**Balance**
**at**
**1/1/22**
**Incoming**
**Resources**
**Outgoing**
**Resources Transfers**
**Balance**
**at**
**31/12/22**
**£**
**£**
**£**
**£**
**£**
345
-
345
-
-
-
13
13
-
-
-
683
663
-
20
-
2,441
2,441
-
-
-
6,248
5,805
- 443
-
1,300
1,229
-
71
-
9,832
9,832
-
-
-
100
100
-
-| |---|---| ||**345**
**20,617**
**20,428**
**-**
**534**| 17 ## **Q1 FOUNDATION** ## **NOTES TO THE ACCOUNTS (continued)** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **12. INDEPENDENT EXAMINERS’ REMUNERATION** The independent examiner’s remuneration amount for the independent examination totalled £1,440 (2021: £2,400). ## **13. RELATED PARTY TRANSACTIONS** During the year Q1 Care Ltd, a company with trustees in common, recharged costs of £19,037 (2021 - £38,307) to Q1 Foundation Ltd, and donated funds of £0 (2021 - £0). A donation in kind of £15,443 was made by Q1 Care Ltd to Q1 Foundation Ltd during the year (2021- £0). At the year end, £4,406 (2021 - £6,472) was owed to Q1 Care Ltd. ## **14. CONTROLLING PARTY** There is no controlling party. 18