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Charity registration number: 1188878
Ford Family Foundation
Annual Report and Financial Statements
for the Year Ended 31 December 2024
Docusign Envelope ID: 53498D87-2A56-4A45-A3FA-77BED94665D0
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees Report | 2 to 10 |
| Statement of Trustees' Responsibilities | 11 |
| Independent Examiner's Report | 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Notes to the Financial Statements | 15 to 22 |
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| Reference and Administrative Details | |
|---|---|
| Trustees | Mr Anthony John Ford, Chairman |
| Mr Stuart Lees FCA | |
| Mr David Andrew Gardner FCA | |
| Mr Iain Aitken | |
| Charity Registration Number | 1188878 |
| Principal Office | KBS House |
| 5 Springfield Court | |
| Summerfield Road | |
| Bolton | |
| BL3 2NT | |
| Independent Examiner | Beever and Struthers |
| Chartered Accountants | |
| One Express | |
| 1 George Leigh Street | |
| Ancoats | |
| Manchester | |
| M4 5DL | |
| Bankers | Royal Bank of Scotland |
| Headquarters | |
| 36 St Andrew Square | |
| Edinburgh | |
| EH2 2YB |
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Trustees Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024.
Objectives and activities
Objects and aims
The object of the Foundation is to advance such charitable purposes as the trustees think fit from time to time.
To achieve this objective, the Foundation provides funding to charities and social enterprises where their commitment to social change is clear and unwavering to assist in the delivery of their activities, services, or outcomes, provided these constitute a charitable application of funds for the public benefit and further the Foundation’s own charitable purposes. The Foundation will consider a range of legal structures, provided it is satisfied that the investment or grant delivers maximum impact and public good in line with regulatory requirements.
Objectives, strategies and activities
In 2024, the Foundation continued to develop and expand its strategic approach to achieving long-term, meaningful impact. While retaining its traditional philanthropic giving to charities such as Beechwood Cancer Care Centre and Charlie’s Promise, the trustees increased the Foundation’s commitment to social investment as a core mechanism for generating long-term, scalable public good.
Remaining impact-area agnostic, the Foundation focused on identifying and supporting the most innovative, high-potential solutions to entrenched social challenges. Central to this strategy is a commitment to creating equitable pathways for social entrepreneurs who may be excluded from traditional financial systems. By supporting organisations doing exceptional work in service of the public good, the Foundation recognises entrepreneurship as a powerful vehicle for transformative and enduring social change.
Where possible, the Foundation takes a blended approach making social investments into mission-aligned businesses to drive long-term systemic impact, while also providing charitable donations to organisations delivering immediate relief. This ensures that the Foundation can respond to urgent needs now, while also investing in lasting solutions. For example, the Foundation’s investment into Real Direction Ltd, a social enterprise tackling knife crime through digital safeguarding and education, was complemented by a grant to Charlie’s Promise, a newly formed charity raising awareness and delivering workshops to prevent youth violence. Together, these two organisations represent a coordinated response to the threat of knife crime, demonstrating the Foundation’s ability to create measurable difference both now and over time.
In line with this strategic direction, the Foundation not only provided direct charitable funding but also invested in mission-aligned social enterprises and strengthened its internal governance and operational infrastructure to better support blended finance approaches in the years ahead.
Where appropriate, the Foundation adopted a hands-on approach to supporting the growth and sustainability of its investee organisations. This included providing strategic input, mentoring, introductions to partners, and operational guidance to founders and leadership teams. By actively engaging with investees, the Foundation ensured that each organisation remained focused on delivering its intended social impact, while also safeguarding the Foundation’s investment and reinforcing long-term sustainability. This approach reflects the Foundation’s commitment to delivering not only capital but also value beyond funding, helping social entrepreneurs navigate early-stage growth and maximise their potential for public good.
To source opportunities, the Foundation collaborates with universities, sector intermediaries, and aligned networks, strengthening the role of universities as exempt charities, advancing applied research into real-world social impact, and surfacing a new generation of socially driven founders capable of delivering scalable change.
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Trustees Report (continued)
These activities build on the strategic ambitions outlined in 2023, including the expansion of social investment, growth of university partnerships, development of follow-on funding models, and commitment to greater impact assurance. In 2024, these ambitions began to be realised, and the Foundation remains focused on delivering a balanced, transparent, and purpose-led approach to philanthropy that is rooted in public benefit.
Social investment activity
One of the clearest demonstrations of the Foundation’s long-term commitment to delivering public good through blended finance is its evolving relationship with Real Direction Ltd, a social enterprise tackling youth violence through immersive safeguarding and educational technology. The Foundation was originally an early supporter of Real Education Alternative Learning CIC, a related community interest company, providing charitable grant funding to support the organisation’s frontline work. At the time, the Foundation had expressed interest in supporting Real Direction Ltd, the enterprise arm delivering national scale impact. However, legal advice in place at the time indicated this was not permissible under the Foundation’s governing documents. In response, the Foundation’s Chair, Tony Ford, chose to personally support the enterprise.
Following a governance and legal review in 2024, and with new advice confirming alignment with charitable purpose, Tony Ford generously gifted his shares in Real Direction Ltd to the Foundation, enabling the organisation to be formally brought into the Foundation’s investment portfolio. This decision reflected a long-standing relationship and a deep understanding of the organisation’s impact.
Real Direction had already demonstrated a clear and credible track record of delivering public good at scale. Its digital, trauma-informed safeguarding resources, co-created with educators, practitioners, and young people, support professionals in navigating high-risk issues such as knife crime, county lines, radicalisation, and drug misuse. Prior to investment, Real Direction had reached over 150,000 young people across the UK, facilitated vital safeguarding disclosures, trained frontline practitioners, and created paid work opportunities for marginalised youth in the creative industries. Its work helps to prevent harm before it occurs, lowering future societal costs and improving life outcomes for those at risk of disengagement.
By enabling this investment, the Foundation advanced its objective of supporting sustainable, mission-aligned social enterprises with national reach, demonstrating a hands-on and deeply intentional approach to balancing public benefit with long-term social investment strategy.
Following this gift, the Foundation approved a further £350,000 social investment to support Real Direction in expanding its reach and delivery infrastructure. This enabled the development of new safeguarding content, the scaling of its platform, and the hiring of additional creative professionals, many of whom are young people with lived experience of the issues addressed by the platform.
As a result of this social investment, Real Direction doubled its reach, impacting over 350,000 young people and expand geographically beyond the Midlands to deliver its education content nationally. The organisation worked with 12 frontline customers across education, policing, and youth justice, including local authorities, colleges, and VRP partners. In 2024 alone, it provided specialist training in using the organisation’s immersive digital resources, with themes addressing real and urgent risks facing young people to over 195 professionals, improving the quality and confidence of safeguarding responses across diverse settings.
The funding also enabled Real Direction to develop and disseminate 21 new digital learning resources, expanding the depth and relevance of its educational offer. In parallel, the organisation created 22 paid work opportunities for marginalised young people, many of whom were recruited as actors and creatives to co-produce content offering practical employment, creative skills development, and authentic lived experience representation.
Real Direction continues to serve as a cornerstone example of the Foundation’s blended finance model in action. Its mission-aligned, scalable approach, underpinned by entrepreneurship and sustained public benefit, demonstrates the transformative potential of using enterprise models to deliver deep social change.
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Trustees Report (continued)
Throughout the year, the Foundation explored multiple opportunities for social investment. However, in line with trustee oversight and professional advice, a cautious and deliberate approach was taken. The Foundation prioritised rigorous due diligence and invested significant time in reviewing proposals, assessing alignment with charitable objectives, and developing its internal investment infrastructure. As a result, while social investment activity in 2024 was deliberately limited, the year served as a critical period for proving concept, refining processes, and laying the groundwork for increased activity in future periods.
Grants and donations
In 2024, the Foundation’s grants and donation portfolio continued to deliver measurable and meaningful impact across a range of charitable purposes. While the Foundation increasingly embraced social investment as a core part of its strategy, it remained committed to direct grant making and philanthropic donations, supporting causes aligned with its values and creating immediate public good. This included our annual unrestricted donation of £30,000 to Beechwood Cancer Care Centre, continuing our long-term support for individuals and families affected by cancer and other life-limiting illnesses.
The Foundation also made a £20,000 donation to Charlie’s Promise, a newly established charity founded in memory of 17-year-old Charlie Cosser, who tragically lost his life to knife crime in 2023. This donation played a critical role in enabling the charity to formally launch and begin delivering its mission supporting its initial set-up, early outreach, and first educational programmes. Charlie’s Promise aims to reduce knife crime and serious youth violence through preventative education, awareness campaigns, and school-based interventions. In its first year of delivery, the organisation reached over 1,000 young people through school talks and workshops, developed a suite of campaign materials for social media and youth services, and began to build partnerships with community organisations and local authorities. The Foundation’s early backing enabled the delivery of vital education, giving young people a chance to make safer choices.
This work reflects the Foundation’s deep and ongoing commitment to early preventative education for young people, recognising the urgent need to intervene before harm occurs. Working in parallel with its major investment into Real Direction Ltd, the Foundation has deliberately developed a balanced funding approach in this area combining grants to newly formed and grassroots initiatives with investment in scalable, sustainable social enterprises. Together, these interventions are designed to deliver both immediate and urgent support, as well as contribute to long-term systems change ensuring the Foundation delivers public good not just in moments of crisis, but over time.
The Foundation’s previous grant to Bounceback Food CIC continued to generate significant impact in 2024, with the organisation scaling its operations and deepening its presence across the North West. Bounceback, a social enterprise committed to tackling food poverty and social isolation, built upon the success of its first Community Kitchen in Manchester, originally made possible by the Foundation’s support, to establish a second permanent site in central Manchester.
This expansion has significantly increased their capacity to serve communities in need, with over 30,000 hot meals provided in 2024 through their 'Buy One, Give One' model. Working closely with Centrepoint, Bounceback extended its reach into Bradford and Barnsley, offering hot meals, cookery classes, and wraparound support to young people at risk of homelessness. In total, the organisation supported 16 charity partners throughout the year, ensuring food and learning opportunities reached those most in need.
The Foundation’s initial funding has also enabled Bounceback to grow in resilience and sustainability. By the end of 2024, staff numbers increased to 16 employees, and the organisation delivered over 446 hours of community workshops, including inclusive cooking classes, nutritional education, and life skills support. In addition, 8 paid internships were offered to university students, providing meaningful work experience that supports their development as the next generation of social entrepreneurs.
Significantly, Bounceback also invested in its digital infrastructure, expanding its impact beyond the physical locations of its kitchens. Digital resources were actively used in towns and cities across the UK and internationally, with engaged users in Paris, Mumbai, and Dhaka, showing clear potential for global scale and replicability.
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Trustees Report (continued)
The Foundation’s investment into Bounceback has proven to be both catalytic and enduring, supporting the creation of a replicable social enterprise model that improves health, wellbeing, and opportunity for some of the most vulnerable members of society across the North West and beyond.
The Foundation global footprint also continued through Taka Taka Zero, a Nairobi-based social enterprise transforming non-recyclable waste into sustainable energy via the Kenyan-designed “Community Cooker.” In 2024, Taka Taka Zero scaled to two active cooker sites and opened its first food stall, creating employment for underserved youth and generating clean energy to improve local food security. The project supported 12,000 people, diverted significant waste from streets and landfills, and received international recognition reaching the semi-finals of the Enactus World Cup for the second year in a row. The model has since attracted government interest and lays the groundwork for scale through large-scale public contracts.
Together, these grants and donations exemplify the Foundation’s continued belief in charitable giving as a critical tool for driving grassroots impact, alongside social investment. From Stockport to Nairobi, the Foundation’s philanthropic capital has helped tackle pressing issues such as cancer support, knife crime prevention, food poverty, and environmental sustainability through trusted, high-impact partners committed to positive change.
Ignite: Supporting emerging social entrepreneurs
In 2024, the Foundation proudly launched Ignite, its flagship initiative co-designed with the Venture Lab at Durham University. The programme was developed as a direct response to the challenges facing universities, students, and social entrepreneurs including persistent barriers around access to funding, visibility, and capacity-building for early-stage ventures, particularly for those from backgrounds underrepresented in traditional finance.
Ignite represented a strategic expansion of the Foundation’s work with universities, supporting their charitable and public good aims of delivering education, research, and civic duty. It was designed to remove structural barriers to entrepreneurship and catalyse early-stage social enterprises capable of delivering transformative change not only for the founders themselves, but for the communities and society at large. By doing so, Ignite directly supports the Ford Family Foundation’s mission to enable scalable public good through innovation and entrepreneurship as well as advancing the work of the higher educational ecosystem in the UK.
Promoted nationally across the higher education ecosystem, Ignite attracted 55 applications from founders linked to 33 UK universities. Finalists were shortlisted and selected by a panel of expert judges, with six social ventures chosen to receive a bespoke support package and a platform to showcase their work.
Each of the six finalists received intensive pre-event coaching, support to refine their pitching narratives, and guidance to prepare for a high-profile live pitching final held at The Shard. The programme culminated in a dynamic event attended by over 100 guests from philanthropy, investment, higher education, policy, and the press. Finalists then received a post-event support package which included pro-bono IP and legal advice, emotional intelligence testing, tailored coaching, continued mentorship, and promotional activity that reached an audience of over 4.5 million people.
The Ignite prize fund totalled £50,000 in grant funding, with a top prize of £20,000 and every single finalist receiving a cash award. This was a deliberate decision by the Foundation to reward each social enterprises commitment to the competition and to recognise the financial constraints that so often affect early-stage social entrepreneurs. The six finalists were all tackling diverse social and environmental challenges, operating across both for-profit and not-for-profit social enterprise models. By removing all financial barriers to entry, the Foundation aimed to focus purely on unearthing the highest-impact solutions maximising the reach, effectiveness, and public value of the competition.
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Trustees Report (continued)
Our Ignite 2024 judging panel assembled a cross sector set of expertise from education, finance, entrepreneurship and social enterprise awarding our funding as follows:
Medily AI - Anglia Ruskin
Founded by Talha Mehmood, Medily AI is a healthtech platform revolutionising the way healthcare professionals deliver care by streamlining diagnosis, prescriptions, and patient engagement. Medily empowers clinicians through a centralised system that reduces administrative burden and improves patient outcomes. Medily was awarded £20,000, the competition’s top prize.
The Even Project CIC - University of Bristol and QMU
Co-founded by Sarah Baily, Aurusha Kharas, and Anushka Mahesh, The Even Project is a social enterprise redesigning menstrual health support in humanitarian crises. Their reusable absorbent underwear offers a dignified, sustainable, and cost-effective alternative to traditional dignity kits, aiming to transform responses to period poverty for displaced women. The team was awarded £12,500.
EqualReach - University of Edinburgh
Founded by Giselle Gonzales, EqualReach is a digital employment platform connecting refugee and displaced talent with dignified remote work. Their model fast-tracks access to global freelancing opportunities while ensuring diversity and inclusion, over 50% of their workforce is female or displaced. EqualReach was awarded £7,500.
DEWEY Clothing - University of the Arts London (UAL)
DEWEY Clothing is a fashion brand specialising in inclusive, adaptive clothing for disabled individuals. The company designs functional yet stylish garments that meet the needs of a wide range of mobility and sensory requirements. DEWEY was awarded £5,000.
CarbonTrac - University College London (UCL)
Founded by sustainability advocate Yasmine Abdu, CarbonTrac uses AI to track the real-time carbon footprint of grocery purchases and integrate this data into supermarket loyalty programmes. Its traffic light system empowers consumers to make informed, sustainable choices while shopping. CarbonTrac was awarded £2,500.
Verified by Maudsley - Birkbeck, University of London
Chris Attoe founded Verified by Maudsley to bring scientific rigour to the digital mental health space. The platform provides clinical validation and a kitemark for mental health apps, ensuring that tools in a £70bn global market meet quality and safety standards. With NHS and Maudsley support, Verified by Maudsley was awarded £2,500.
The Ignite programme addressed barriers to finance for early-stage social entrepreneurs and contributed to broader university goals, including enhanced research, civic impact, and improved student and graduate outcomes. The early indicators of success from the inaugural Ignite programme have been highly encouraging. Finalists have gone on to launch new product lines, expand their operations, secure partnerships, and engage in follow-on investment discussions. This early progress has directly unlocked measurable social impact and public good, demonstrating that business growth and mission-driven outcomes can be achieved in tandem.
The competition has significantly elevated the visibility of each social enterprise, with promotional reach exceeding 4.5 million people and attracting interest from both funders and delivery partners. Building on this momentum, the Foundation is now working with a global partner specialising in long-term enterprise support, ensuring each finalist has access to tailored guidance as they scale. Since the final, we have actively explored follow-on funding opportunities with multiple finalists, reinforcing our commitment to not just celebrating early-stage innovation, but sustaining it. Looking ahead, the Foundation’s ambition is to grow Ignite into a nationally recognised, annual platform one that consistently unearths and accelerates high-potential social enterprises emerging from UK higher education, and beyond.
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Trustees Report (continued)
Public benefit
The work of the Foundation and its funds continues to be wholly directed towards furthering its charitable purposes, and the trustees remain of the view that the Foundation satisfies the criteria laid down for meeting the public benefit requirement. The trustees are aware of and have regard to the Charity Commission’s guidance on public benefit.
In line with the Foundation’s evolving approach, which now includes social investment alongside traditional grant-making, a robust decision-making process is in place to ensure that all activity continues to prioritise public good. The Foundation has adopted a structured framework for assessing social investments, including the production of formal investment proposals for trustee review and approval. These documents demonstrate how each investment advances charitable objectives and delivers public benefit, and the Foundation seeks external legal and sector-specific advice where necessary to ensure compliance and maximise impact.
All social investments and grant allocations are subject to rigorous due diligence, and the Foundation has introduced quarterly impact reporting across its full portfolio to track outcomes and ensure accountability. Looking ahead, the Foundation intends to welcome independent evaluation of the public benefit achieved strengthening assurance, transparency, and learning as part of its commitment to continuous improvement.
Grant making policies
The trustees consider applications for grants that further the Foundation’s objective. The criteria for grant making is not inflexible and the Foundation’s purposes are not limited to one specific charitable purpose to allow the greatest flexibility but in general the trustees consider:
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applications which benefit a significant number of beneficiaries • applicants must be charitable or not for profit organisations
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organisations working in economically deprived areas are preferred
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established organisations are preferred
Building on the decision made in 2023 to include for-profit organisations in its funding considerations, the Foundation invested significantly in its governance, due diligence procedures, and internal policy framework to enable and structure social investments that are legally compliant and aligned with the Foundation’s charitable purposes.
In line with Charity Commission guidance, a formal social investment policy has been adopted, setting out the criteria and processes through which social investments are made. This includes clear safeguards to ensure that all financial activity directly furthers the Foundation’s charitable objectives and achieves identifiable public good. The Foundation undertakes rigorous due diligence for all prospective social investments, considers external legal and financial advice where necessary, and ensures that trustees retain ultimate responsibility for all decisions.
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Trustees Report (continued)
The trustees consider social investments where both a financial return and a demonstrable public benefit can be achieved in line with the Foundation’s charitable objectives. The Foundation’s purposes are broad and not limited to one specific charitable purpose, which allows for flexibility in investment scope. However, in general, the trustees consider:
• proposals that directly further one or more of the Foundation’s charitable purposes, including the relief of poverty, advancement of education, or promotion of social inclusion;
• whether the investee organisation has a clear social impact model and a credible plan to deliver measurable public good;
• whether the proposed investment will deliver outcomes that could not be achieved through grant funding alone;
• whether the investee is a charity, CIC, or for-profit entity with appropriate social mission safeguards in place (e.g. asset locks, social purpose articles, etc.);
• opportunities where the initial capital is expected to be returned within 5 to 7 years, with a preference for scalable and sustainable business models;
• organisations that operate in economically deprived or under-served communities;
• ventures that are at an appropriate stage of maturity and governance, with a demonstrable track record or high-potential team.
A key principle of the Foundation’s approach is that private benefit must be incidental, and all investments must deliver outcomes that would not otherwise be achievable through traditional grant funding alone. All proposed investments are subject to rigorous due diligence, and the Foundation may seek external legal, financial, or sector-specific advice where necessary. The trustees retain ultimate responsibility for investment decisions and must be satisfied that the charitable purposes of the Foundation are furthered and any private benefit is incidental.
Investments are recorded and monitored against a framework that tracks both financial performance and social impact. To ensure accountability and learning, the Foundation produces quarterly impact reports covering both grants and social investments. From 2025, the Foundation also intends to welcome independent assessment of its impact and public benefit, to provide robust external assurance and further strengthen its commitment to transparency and public good.
Achievements and performance
Financial review
The Foundation’s funds remained securely deposited with Hoares Bank throughout 2024, with £2.5 million held in deposit as reserves, generating interest income within the year to support the Foundation’s charitable activity. In line with the Foundation’s strategy, a proportion of available funds was deployed as social investments into impact-led enterprises, with all investment decisions made under the oversight of trustees and in accordance with the Foundation’s social investment policy. The Foundation continued to operate with a lean operational model, keeping costs low and ensuring that as much of the fund as possible is directed toward public good. The trustees will continue to review the best options for the Foundation’s financial security, growth, and long-term charitable impact.
Policy on reserves
The trustees’ policy is to distribute any income arising in the Foundation, after allowing for operating expenses, but to retain a small proportion of income in reserve as cash to meet urgent needs in advance of expected receipts.
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Trustees Report (continued)
Plans for future periods
Aims and key objectives for future periods
In 2025 and beyond, the Foundation will continue to strengthen and expand its dual focus on grant-making and social investment for maximum impact, ensuring that all activity is aligned with its charitable purpose and commitment to public good. Our strategic priorities are shaped by the progress of our current portfolio, the success of new initiatives like Ignite, and a growing network of partners across higher education, social enterprise, and the wider funding ecosystem enabling the Foundation to respond to real and direct need with agility and purpose.
The Foundation will continue to provide targeted support and capital to existing beneficiaries, backing those who are demonstrating strong performance and deepening social impact. This includes a commitment to follow-on funding for high-performing social enterprises, recognising that long-term, staged support is essential to maximising outcomes. We will continue to review and refine our investment governance, with a particular focus on measuring, evidencing, and assuring public benefit across all activity. To support this, the Foundation will introduce more sophisticated impact reporting systems, enabling real-time insight across both grants and investments. We aim to welcome independent evaluation and verification of our public good outcomes, contributing to sector-wide best practice in social investment reporting and assurance.
After tremendous success in its inaugural round and continued challenges faced by society and the third sector, the Foundation will continue to grow the Ignite programme with plans to expand its reach, formalise it as an annual flagship initiative, and secure at least one major strategic partner to support finalists’ long-term development. We will continue to refine Ignite’s offer to serve as a launchpad for high-potential, high-impact social enterprises emerging from the UK university ecosystem, and to create clear, inclusive pathways into social entrepreneurship for founders from underrepresented backgrounds.
To support our long-term goals, the Foundation will continue to strengthen its external communications and sector engagement, ensuring that our work is clearly visible to those we serve and those we seek to influence. We will enhance our digital presence, develop strategic content, and engage in thought leadership that positions the Foundation as a distinctly progressive philanthropic entity. By amplifying the voices of our beneficiaries and sharing the insights gained through our grant and investment work, we aim to contribute to the evolution of social investment practice and champion new models of impact-driven philanthropy across the sector.
We will broaden our grant and investment portfolio by welcoming new beneficiaries and supporting the growth of existing ones. We aim to demonstrate proof of concept for our blended funding model, further positioning the Foundation as a trusted, progressive funder in the impact space. By the end of 2025, we aim to surpass £1.5 million in total funding committed to social enterprises and charitable partners since inception.
To ensure our long-term sustainability, we will also diversify our financial strategy, including new approaches to fund structuring and income generation that align with our charitable status. A review of the Foundation’s strategy and Board composition will be undertaken to ensure ongoing alignment with best practice, good governance, and the evolving needs of our mission.
Through these activities, the Foundation will continue to build its reputation as a funder, university partner, and leader in social investment philanthropy, delivering scalable, sustainable solutions to social challenges while remaining firmly rooted in charitable purpose and public benefit.
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Trustees Report (continued)
Structure, governance and management
Nature of governing document
Ford Family Foundation is a charitable incorporated organisation, governed by its constitution dated 20 November 2019. The object of the Foundation is to advance such charitable purposes as the trustees think fit from time to time. New trustees are appointed by existing trustees after a selection and interview process. As part of the appointment process new trustees are provided with the Foundation’s governing documents, accounting information and policies, together with information on the duties and responsibilities of charitable trustees. The following served as trustees during the whole of the period under review, unless otherwise stated: A Ford David Gardner, Iain Aitken and Stuart Lees.
Arrangements for setting key management personnel remuneration
No trustees received any remuneration during the year. No trustee received reimbursed expenses during 2024. In the year ended 31 December 2024 the financial statements have been prepared on an accrual’s basis. This is in line with guidance provided by the Charity Commission. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of Ford Family Foundation and enable them to ensure that the financial statements comply with relevant law. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Important non-adjusting events after the financial period
Since the end of the 2024 financial year, the Foundation has continued to expand its social investment activity and deepen support for its existing and emerging portfolio. In Q1 2025, the Foundation finalised an investment into the Black Excellence Network Group, co-founded by Dr George Obolo and Dr Oyinda Adeniyi. This funding will enable them to build on the work of existing Black Excellence Network CIC by launching a digital platform to expand its support for Black graduates across the UK and improve employment outcomes. The trustees also approved follow-on funding for two Ignite finalists: a milestone-based grant of £30,000 to Medily AI, and a £250,000 investment in EqualReach, subject to final agreement. These commitments mark a significant expansion of the Foundation’s social investment portfolio.
In 2025, the Foundation entered into a strategic partnership with a global bank to strengthen post-Ignite engagement and offer long-term development support to all competition finalists. This new collaboration reflects the Foundation’s ambition to provide not only catalytic capital but also meaningful capacity-building for high-potential social entrepreneurs.
Tony Ford
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Anthony John Ford Trustee
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Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees 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 judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Tony Ford Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Anthony John Ford Trustee
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Independent Examiner's Report to the trustees of Ford Family Foundation
I report to the trustees on my examination of the accounts of Ford Family Foundation for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of Ford Family Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Ford Family Foundation's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Ford Family Foundation as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
...................................... Helen Binns FCA Chartered Accountants
One Express 1 George Leigh Street Ancoats Manchester M4 5DL
Date:............................. 29th September 2025
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Statement of Financial Activities for the Year Ended 31 December 2024
| Note Income and Endowments from: Investment income 2 Total Income Expenditure on: Charitable activities Total Expenditure 3 Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 Note Income and Endowments from: Investment income 2 Total Income Expenditure on: Charitable activities 3 Total Expenditure Gains/losses on investment assets Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 12 |
Unrestricted funds General £ 166,843 166,843 (571,651) (571,651) (404,808) (404,808) 3,134,263 2,729,455 Unrestricted funds General £ 7,810 7,810 (119,074) (119,074) 64,750 (46,514) (46,514) 3,180,777 3,134,263 |
Total 2024 £ 166,843 |
|---|---|---|
| 166,843 | ||
| (571,651) | ||
| (571,651) | ||
| (404,808) | ||
| (404,808) 3,134,263 |
||
| 2,729,455 | ||
| Total 2023 £ 7,810 |
||
| 7,810 | ||
| (119,074) | ||
| (119,074) 64,750 |
||
| (46,514) | ||
| (46,514) 3,180,777 |
||
| 3,134,263 |
All of the charity's activities derive from continuing operations during the two periods.
The notes on pages 15 to 22 form an integral part of these financial statements. Page 13
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Balance Sheet as at 31 December 2024
| Note Current assets Debtors 9 Cash at bank and in hand 10 Creditors: Amounts falling due within one year 11 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 12 |
2024 £ 572 2,736,059 2,736,631 (7,176) 2,729,455 2,729,455 2,729,455 |
2023 £ 602 3,145,439 |
|---|---|---|
| 3,146,041 (11,778) |
||
| 3,134,263 | ||
| 3,134,263 | ||
| 3,134,263 |
The financial statements on pages 13 to 22 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:Tony Ford
......................................... Mr Anthony John Ford Trustee
The notes on pages 15 to 22 form an integral part of these financial statements. Page 14
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Notes to the Financial Statements for the Year Ended 31 December 2024
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Ford Family Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Exemption from preparing a cash flow statement
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Doantions in the year relate to shares in listed entities and these are recognised on the transfer of the shares.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividend income from listed investments is recognised on entitlement.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on charitable activities includes all costs incurred by a charity in undertakingactivities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costsattributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
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Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
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Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
2 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 166,843 |
Total 2024 £ 166,843 |
Total 2023 £ 7,810 |
|---|---|---|---|
3 Expenditure on charitable activities
| Donations Cost of events Staff costs Allocated support costs |
Unrestricted funds General £ 445,000 15,988 55,885 54,778 571,651 |
Total 2024 £ 445,000 15,988 55,885 54,778 571,651 |
Total 2023 £ 35,000 - 48,618 35,456 |
|---|---|---|---|
| 119,074 |
| Donations Cost of event Wages and salaries Legal and professional fees Accountancy fees Audit fees Computer software and maintenance Bank charges Advertising and marketing Motor and travel Insurance Sundry |
Activity undertaken directly £ 445,000 15,988 - - - - - - - - - - 460,988 |
Activity support costs £ - - 55,885 39,619 2,850 (4,450) 235 455 4,109 6,382 1,751 3,827 110,663 |
2024 £ 445,000 15,988 55,885 39,619 2,850 (4,450) 235 455 4,109 6,382 1,751 3,827 571,651 |
2023 £ 35,000 - 48,618 11,643 3,300 7,200 3,024 321 1,200 8,768 - - |
|---|---|---|---|---|
| 119,074 |
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Docusign Envelope ID: 53498D87-2A56-4A45-A3FA-77BED94665D0
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
4 Grant-making
Below are details of material grants made to institutions by the
| Name of institution Taka Taka Zero Song for Sue Foundation Beechwood Charlies Promise Real Direction Ignite Grant |
2024 £ - - 50,000 20,000 325,000 50,000 445,000 |
2023 £ 30,000 5,000 - - - - 35,000 |
|---|---|---|
5 Net incoming/outgoing resources
Net outgoing resources for the year include:
| Audit fees Other non-audit services |
2024 £ (4,450) 2,850 |
2023 £ 7,200 3,300 |
|---|---|---|
6 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
7 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | ||
|---|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2024 £ 49,167 5,430 1,288 55,885 |
2023 £ 45,000 3,037 581 |
| 48,618 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
Employees
| 2024 | 2023 | ||
|---|---|---|---|
| No | No | ||
| 1 | 1 |
No employee received emoluments of more than £60,000 during the year
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Docusign Envelope ID: 53498D87-2A56-4A45-A3FA-77BED94665D0
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
8 Taxation
The charity is a registered charity and is therefore exempt from taxation.
9 Debtors
| 9 Debtors |
||
|---|---|---|
| Other debtors 10 Cash and cash equivalents Cash at bank Short-term deposits 11 Creditors: amounts falling due within one year Other taxation and social security Accruals |
2024 £ 572 2024 £ 2,736,059 - 2,736,059 2024 £ 2,421 4,755 7,176 |
2023 £ 602 |
| 2023 £ 645,439 2,500,000 |
||
| 3,145,439 | ||
| 2023 £ 1,278 10,500 |
||
| 11,778 |
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Docusign Envelope ID: 53498D87-2A56-4A45-A3FA-77BED94665D0
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
12 Funds
| 12 Funds | |||||
|---|---|---|---|---|---|
| Unrestricted funds General General Unrestricted funds General General |
Balance at 1 January 2024 £ 3,134,263 Balance at 1 January 2023 £ 3,180,777 |
Incoming resources £ 166,843 Incoming resources £ 7,810 |
Resources expended £ (571,651) Resources expended £ (119,074) |
Other recognised gains/(losses) £ - Other recognised gains/(losses) £ 64,750 |
Balance at 31 December 2024 £ 2,729,455 |
| Balance at 31 December 2023 £ 3,134,263 |
13 Analysis of net assets between funds
| Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 2,736,631 (7,176) 2,729,455 Unrestricted funds General £ 3,146,041 (11,778) 3,134,263 |
Total funds at 31 December 2024 £ 2,736,631 (7,176) |
|---|---|---|
| 2,729,455 | ||
| Total funds at 31 December 2023 £ 3,146,041 (11,778) |
||
| 3,134,263 |
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Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
14 Non-adjusting events after the financial period
Since the end of the 2024 financial year, the Foundation has continued to expand its social investment activity and deepen support for its existing and emerging portfolio. In Q1 2025, the Foundation finalised an investment into the Black Excellence Network Group, co-founded by Dr George Obolo and Dr Oyinda Adeniyi. This funding will enable them to build on the work of existing Black Excellence Network CIC by launching a digital platform to expand its support for Black graduates across the UK and improve employment outcomes. The trustees also approved follow-on funding for two Ignite finalists: a milestone-based grant of £30,000 to Medily AI, and a £250,000 investment in EqualReach, subject to final agreement. These commitments mark a significant expansion of the Foundation’s social investment portfolio.
In 2025, the Foundation entered into a strategic partnership with a global bank to strengthen post-Ignite engagement and offer long-term development support to all competition finalists. This new collaboration reflects the Foundation’s ambition to provide not only catalytic capital but also meaningful capacity-building for high-potential social entrepreneurs.
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