FOUNDATION FUTURES
REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
Charity No 1188809
FOUNDATION FUTURES
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the Management Committee | 2 - 6 |
| Report of the Independent Examiner | 7 |
| Statement of financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the financial statements | 10 - 12 |
FOUNDATION FUTURES Report of the Trustees Year ended 31 March 2021
1
Legal and administrative information
| Board of Trustees: | C Bankhead |
|---|---|
| S Davison | |
| T Dobson | |
| C Henwood | |
| P Davison | |
| K Gillespie | |
| E Roberts | |
| G Houghton | |
| P Lant | |
| X Brouwer | |
| K Williamson | |
| Registered Office: | Pottery Bank Community Centre |
| Yelverton Crescent | |
| Walker | |
| Newcastle upon Tyne | |
| NE6 3SW | |
| Accountants: | McCready Page LLP |
| 511 Durham Road | |
| Gateshead | |
| Tyne & Wear | |
| NE9 5EY |
FOUNDATION FUTURES Report of the Trustees Year ended 31 March 2021
2
The trustees present their report and the financial statements of the charity for the year ended 31 March 2021.
Structure, governance and management
Foundation Futures is a registered charity with the Charity Commission for England and Wales since 30 March 2020 (charity number 1188809). Foundation Futures is a Charitable Incorporated Organisation (CIO). Trustees are nominated as needed (by skill, speciality, and interest) and appointed by a majority agreement from the whole board of trustees. Trustees are re-appointed at the AGM held in October.
The trustees who manage the charity are in charge of overseeing the day-to-day running of the clubs. The trustees seek the views of funders, members, its youth worker and volunteers in deciding the activities to run.
All trustees receive training on the role and responsibilities of being a trustee through the information provided in the Charity Commission document ‘The essential trustee, what you need to know, what you need to do’, updated 3/5/2018.
Foundation Futures CIO has an extensive range of policies covering Child Protection, Safer Recruitment and Equal Opportunities including safeguarding children, safeguarding vulnerable adults, safeguarding during Covid 19. We also have comprehensive Risk Assessments for working in various settings, and through a number of different activities, both on site and trips out of the locality.
Disclosure and Barring Service (DBS) checks are carried out prior to the employment of any staff or trustees who have contact with our clients (in line with statutory requirements).
As a new charity, Foundation Futures CIO has had limited opportunity up to the year ending 31/3/2021 to work collaboratively with other organisations, although this is something we intend to pursue in the upcoming year.
All trustees have the opportunity to give of their time freely and voluntarily to support the work of the charity.
One member of the board of trustees (Gregory Houghton) is a subcontract associate for our Make Stuff programme run in Byker. He is employed with a service level agreement to run this programme (the programme was initially under the umbrella of our sister company Foundation Futures CIC). We make sure to discuss and record this potential conflict of interest during our trustee meetings and will continue to monitor.
FOUNDATION FUTURES Report of the Trustees Year ended 31 March 2021
3
Objectives and activities for the public benefit
The Trustees have complied with their duty to have due regard to the guidance on public benefit as published by the Charity Commission for England and Wales. In setting our objectives and planning activities, our Trustees have given consideration to the public benefit and in particular to
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To advance in life and relieve needs of vulnerable young people affected by economic disadvantage who have a disability, mental health issue or a behavioural difficulty.
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To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.
The main activity in relation to these objects is the provision of junior and senior youth clubs promoting creativity, wellbeing and confidence, in both the Byker and Walker areas of Newcastle upon Tyne, which fall into the bottom 1% of the Government’s index of multiple deprivation.
Membership of all of our community groups (Junior Youth Club, Senior Youth Club, Art Club, Make Stuff clubs) are open to young people aged between 4 and 16 years in the Pottery Bank and Byker areas of Newcastle upon Tyne.
Achievements and performance
Summer
Junior and Senior Youth Clubs – open days held for recruitment of youth club children to both groups – remote activity packs given and YouTube creative videos prepared for children to access at home during lockdown.
Make Stuff – Much work was undertaken during the summer to prepare the space in the Byker wall for the Make Stuff project to begin in September, this included building work, decoration, creation of make stuff furniture and make stuff zones, acquisition of equipment including raspberry pi’s, computers, vinyl heat press machine and a variety of electronic components.
Autumn
Open days for October half term for youth clubs – Halloween themed day. Engagement of 40 young people who signed up for our Youth Clubs (both Junior and Senior).
Winter
Some detached youth work carried out due to additional lockdown. Foundation Futures also hosted a Christmas Bus with Santa, which dropped presents to the children of the Pottery Bank and wider Walker areas, this allowed us to engage with 75 families in the local area. Remote youth work continued after Christmas in liaising with parents in Byker and Walker to give out additional materials for craft activities at home, in conjunction with the creation of a range of additional tutorials on our Foundation Futures YouTube channel.
FOUNDATION FUTURES Report of the Trustees Year ended 31 March 2021
4
Financial review, reserves and risk policy
The accounts show a surplus for the year amounting to £60,797. Bank balances at 31 March 2021 were £61,277. Unrestricted funds carried into the next financial year were £24,903 with restricted funding at £35,894.
The main financial risk to the charity is the loss of ongoing funding from existing grant funders to continue programmes, or the inability to secure sufficient new grants to cover costs.
It is the policy of Foundation Futures CIO to hold 4 months of necessary expenses (operational costs) in the event of a loss of income and to meet any unforeseen expenditure that may occur.
Foundation Futures CIO has exceeded this level of reserves in our first year of operations, which is mainly due to the suspension of delivery of programmes due to the Covid 19 pandemic and lockdowns. The Covid 19 pandemic delayed significantly our ability to open an appropriate Charity Bank Account, with a number of banks not taking on new clients. Where we were able to open an account, we faced a lead-time of 12 weeks. This meant our Co-operative Community Bank account was not operational until December 2020 when we were again in lockdown.
From January 2021 to the year-end of 31 March 2021, Foundation Futures CIO carried out only limited faceto-face activities due to ongoing restrictions.
One source of funds in our first year of operations has been surpluses gifted to the CIO from our sister nonprofit company Foundation Futures CIC. These surpluses accrued from commissioned work undertaken for North Tyneside and Northumberland Local Education Authorities for the provision of Alternative Education to students permanently excluded from school.
In addition, some existing grant funding from projects initially delivered through the CIC that had been either suspended due to Covid 19 restrictions, or moved to remote delivery were transferred, with permission, to the CIO. It is our intention that all community programmes going forward will be delivered through the charity.
The funds to the charity have allowed us to promote the charity in the areas of pottery bank and Byker, although due to Covid 19 restrictions we were not able to offer the full service of programmes we would have liked. However, where we were able to offer face-to-face delivery, the children have benefited significantly in terms of their socialisation, mental health and wellbeing.
Foundation Futures CIO, at the end of the accounting period, did not hold any material property, assets or income generating investments.
FOUNDATION FUTURES Report of the Trustees Year ended 31 March 2021
5
Future plans
The coming year will see the continuation of our community-based programmes being transferred from the CIC to the CIO. These include the Community Hub in Byker (funded by the Tudor Trust) and additional funds for the Junior Youth Club from Comic Relief.
We expect to be able to resume our face-to-face work with all of our clients, both young and older to provide safe places and spaces to transform lives.
Reference and administration details
Company number
CE021329
Registered charity number
1188809
Charity’s principal address
Pottery Bank Community Centre, Yelverton Crescent, Walker, Newcastle upon Tyne, NE6 3SW
Executive trustees – appointed 30 March 2020
Craig Bankhead – Chair Susan Davison – Secretary Tracy Dobson – Treasurer Christine Henwood
Non-executive trustees – appointed 30 March 2020 unless stated
Philip Davison Karen Gillespie – Appointed 4 March 2020 Eleanor Roberts Gregory Houghton – 5 November 2020 Paul Lant Xander Brouwer – Appointed 14 August 2020 Karen Williamson – Appointed 12 August 2020
Independent examiner
R Page FCCA, McCready Page, 511 Durham Road, Low Fell, Gateshead, Tyne & Wear, NE9 5EY
6
FOUNDATION FUTURES Report of the Trustees Year ended 31 March 2021
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Report of the Management Committee 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, which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping accounting records, which 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Signed on behalf of the trustees
C Bankhead
11 January 2022
FOUNDATION FUTURES Report of the Independent Examiner to the trustees of Foundation Futures CIO
7
I report on the financial statements of Foundation Futures for the year ended 31 March 2021 which are set out on pages 8 to 12.
Respective responsibility of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011(the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to Examine the accounts under section 145 of the 2011 Act
To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act) and
To 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 Commissioners. 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 the 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 accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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 and to 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
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
R A Page FCCA
511 Durham Road Low Fell Gateshead Tyne & Wear NE9 5EY Date: 11 January 2022
FOUNDATION FUTURES Statement of Financial Activities Year ended 31 March 2021
8
| Notes Unrestricted Income £ Grants 2 36,212 Total income 36,212 Expenditure Charitable activities 3 11,309 Total expenditure 11,309 Net income 24,903 Transfers - Net movement in funds 24,903 Total funds carried forward 24,903 |
Restricted £ 40,499 40,499 4,605 4,605 35,894 - 35,894 35,894 |
Total 2021 £ 76,711 |
|---|---|---|
| 76,711 | ||
| 15,914 | ||
| 15,914 | ||
| 60,797 - |
||
| 60,797 | ||
| 60,797 |
9
FOUNDATION FUTURES Balance Sheet as at 31 March 2021
| Notes Current assets Cash at bank and in hand Creditors – amount due within one year 8 Net current assets Net assets Funds of the charity 9 |
Unrestricted £ 25,383 25,383 480 24,903 24,903 24,903 |
Restricted £ 35,894 35,894 - 35,894 35,894 35,894 |
2021 £ 61,277 |
|---|---|---|---|
| 61,277 480 |
|||
| 60,797 | |||
| 60,797 | |||
| 60,797 |
The financial statements were approved by the trustees on 11 January 2022 and signed on the trustees behalf by:
T Dobson Trustee
FOUNDATION FUTURES Notes to the accounts Year ended 31 March 2021
10
NOTES TO THE ACCOUNTS
1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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 2015) – (Charities SORP (FRS 1023), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Basis of accounting
The charity has adopted the accruals basis of accounting as required by the regulations.
Income
Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.
Expenditure
Costs are recognised as and when there becomes a legal or constructive obligation committing the charity to pay out the resources.
Funds accounting
Unrestricted funds 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.
Restricted funds are subjected to restrictions on their expenditure imposed by the funder, donor or through the terms of an appeal.
- 2 Grants
| Unrestricted Foundation Futures CIC Restricted Badur Foundation Awards for All Sir James Knott Tudor Trust SESF Balance Youth Worker Comic Relief Others |
2021 £ 36,212 20,221 3,696 4,500 2,000 7,000 2,982 100 |
|---|---|
| 76,711 |
FOUNDATION FUTURES Notes to the accounts Year ended 31 March 2021
11
NOTES TO THE ACCOUNTS
3 Expenditure
| penditure | ||
|---|---|---|
| Unrestricted Charitable activities £ Direct costs 1,966 Wages 8,863 Accountancy 480 11,309 |
Restricted £ 1,203 3,402 - 4,605 |
2021 £ 3,169 12,265 480 |
| 15,914 |
4 Trustees expenses Expenses paid to trustees during the year: £Nil (2020: £Nil)
5 Fees for examination of the accounts
| 5 Fees for examination of the accounts |
|
|---|---|
| Fee for reporting on the accounts 6 Wages Total staff costs |
2021 £ 480 |
| 2021 £ 12,265 |
FOUNDATION FUTURES Notes to the accounts Year ended 31 March 2021
12
NOTES TO THE ACCOUNTS
7 Staff numbers
Staff numbers during the year were as follows
| Management and administration 8 Creditors – amount falling due within one year Other creditors and accruals 9 Income Expenditure Unrestricted £ £ General 36,212 11,309 Restricted Other Funds 40,499 4,605 76,711 15,914 |
Part time 1 2021 £ 480 |
Full time Total 2 3 As at 31 March 2021 £ 24,903 35,894 60,797 |
|
|---|---|---|---|
| 480 | |||
| Transfer £ - - - |
|||