CHANCE TO CHANGE FOUNDATION
Company number: 12071926 Registered charity no: 1189198
Annual Report and Financial Statements for the year ended 30 June 2024
Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Annual Report of the Trustees
The Trustees are pleased to present their report on the activities of the Chance to Change Foundation (‘the Foundation’) covering the period 1 July 2023 to 30 June 2024.
Objectives and Activities
The Foundation’s charitable objects are set out in its Memorandum and Articles of Association, which state that: ‘The Objects of the Charity are, for the public benefit, to promote the care, resettlement and rehabilitation of offenders and ex-offenders and the prevention of crime in particular but not exclusively by providing educational and awards programmes within prisons and by acting as a resource for those people on leaving prison’.
Achievements and Performance
2024 marked a step change in the scale and nature of the Foundation’s activities at HMP Pentonville. As well as continuing to support the provision of professional trauma counselling to prisoners inside the prison, the Foundation also successfully raised the remainder of the funds required to establish a bicycle repair workshop and training facility at HMP Pentonville. The new facility will train between 40 and 60 prisoners every year as bicycle repair mechanics with a certified qualification, which will enable them to be guaranteed employment after their release. It was officially opened on 15 July 2024 by HM Chief Inspector of Prisons, Charlie Taylor, at a well-attended event which received significant local and national press coverage.
Financial Review and Reserves Policy
In 2024 the Foundation continued to receive support from its existing donors as well as successfully raising funds from one new corporate donor and one private philanthropist. These new sources of funding enabled a significant increase in the Foundation’s charitable activities at HMP Pentonville in the current year and beyond. Thanks to these new donations, at the end of the financial year the Foundation held cash reserves of £152,318 (2022: £43,532), all of which was available to fund future activities in furtherance of its charitable objects.
The Trustees gratefully acknowledge the generous financial support of its major donors which include: the City and Guilds of London Institute; the Saïd Foundation; the Goldsmiths’ Company Charity; and Eden Gardens Entertainment Ltd.
Structure, Governance and Management
At the end of the period the Board had three members: Mr Jonathan Aitken, Mr Shaffiq Din, and Mr Daniel Bird (who acted as the Chairman). As a small charity in its start-up phase, the Foundation is managed and run by its Trustees, who are unremunerated.
Public Benefit
The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. The Trustees consider that the Foundation’s aim to promote the care, resettlement and rehabilitation of offenders, and therefore foster a reduction in reoffending, supports (1) the advancement of citizenship or community development and (2) the advancement of education, both of which are ‘public benefits’ as defined in the Act.
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Approval and Signature
This report was approved by the Board of Directors on 25 February 2025 and signed on its behalf by:
Daniel Bird Director and Trustee
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Reference and Administrative Information
Company registration number 12071926 Charity registration number 1189198 Registered office address 83 Barkston Gardens London SW5 0EU United Kingdom Board of Trustees Rev Jonathan Aitken Mr Shaffiq Din Mr Daniel Bird Bankers NatWest 66-68 St John’s Road London SW11 1PZ
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Independent Examiner's report on the accounts to the Trustees of the Chance to Change Foundation
Responsibilities and basis of report
I report to the Trustees on my examination of the accounts of the Chance to Change Foundation (“the charity”) for the year ended 30 June 2024.
As the charity’s trustees (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable 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.
Signed: Date:
Mr Benjamin William Thomas Dugmore
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Chance to Change Foundation Statement of Financial Activities incorporating Income and Expenditure Account for the year ended 30 June 2024
| Note Income from: - Donations and legacies Total income Expenditure on: - Raising funds - Charitable activities 2 Total expenditure Net income Net movement in funds for the year Reconciliation of funds 6 Funds brought forward Funds carried forward 30 June |
Restricted Funds £ Unrestricted Funds £ 90,000 61,379 90,000 61,379 - - (28,103) (14,517) (28,103) (14,517) 61,897 46,862 61,897 46,862 11,880 31,652 73,777 78,514 |
Total 2024 £ 151,379 151,379 - (42,620) (42,620) 108,759 108,759 43,532 152,291 |
Total 2023 £ 42,880 |
|---|---|---|---|
| 42,880 | |||
| (2,565) (1,749) |
|||
| (4,314) | |||
| 38,566 | |||
| 38,566 | |||
| 4,966 | |||
| 45,532 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 9 form part of these financial statements.
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Chance to Change Foundation Balance Sheet as at 30 June 2024
| Note Fixed assets Total fixed assets Current assets Debtors, prepayments and accrued income Cash at bank and in hand 4 Total current assets Liabilities Creditors falling due within one year 5 Net assets Funds of the charity 6 Restricted funds Unrestricted income funds Total charity funds |
2024 £ - - 73 152,318 152,391 (100) 152,291 73,777 78,514 152,291 |
2023 £ - |
|---|---|---|
| - | ||
| - 43,532 |
||
| 43,532 - |
||
| 43,532 | ||
| 11,880 31,652 |
||
| 43,532 |
For the period ended 30 June 2023, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The member has not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The Financial Statements on pages 4 to 8 were approved by the Board of Directors on 25 February 2025 and signed on its behalf by:
Daniel Bird Director and Trustee
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Chance to Change Foundation Notes to the Financial Statements for the year ended 30 June 2024
1. Accounting Policies
1.1. Basis of preparation
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) , the Charities Act 2011 and UK Generally Accepted Accounting Practice. The charity meets the definition of a 'public benefit entity' under FRS 102. The financial statements are prepared under the historic cost convention except where otherwise stated.
The majority of the Foundation’s assets and liabilities are denominated in Pounds Sterling. The functional currency of the Foundation is therefore considered to be Pounds Sterling and the Financial Statements are presented in that currency.
1.2. Income
Income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The full analysis of income is shown in the Statement of Financial Activities.
Gift Aid receivable is recognised when the donor makes a donation with a valid Gift Aid declaration. Gift Aid receivable but not yet claimed at year-end is accounted for as accrued income. Any Gift Aid received in respect of a donation is credited to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
1.3. Expenditure and irrecoverable VAT
Expenditure is recognised once: there is a legal or constructive obligation to make a payment to a third party arising from a past event; it is probable that settlement will be required; and the amount of the obligation can be measured reliably. Expenditure relates either to raising funds (the costs associated with fundraising) or to charitable activities (payments made in support of projects and activities at HMP Pentonville, or otherwise in accordance with the Foundation’s charitable objects).
The charity is not registered for VAT and irrecoverable VAT is therefore charged as a cost against the activity for which the expenditure was incurred.
1.4. Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at the cash settlement amount after any trade discounts or amounts advanced by the charity. Subsequently, they are measured at the value of the cash or other consideration expected to be received.
1.5. Going concern
The Board has reviewed the Foundation’s forecast income and expenditure for the coming period. Given the significant increase in grant income received in the year and the fact that cash balances at the year-end are sufficient to meet all known financial commitments, the Trustees have concluded that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Chance to Change Foundation Notes to the Financial Statements for the year ended 30 June 2024
2. Analysis of expenditure on charitable activities
| Restricted Funds 2024 £ Unrestricted Funds 2024 £ Direct charitable expenditure (28,103) (14,010) Staff and administrative costs - (507) Grants to individuals - - Total (28,103) (14,517) |
Total 2024 £ (42,113) (507) - (42,620) |
Total 2023 £ (650) (521) (578) |
|---|---|---|
| (1,749) |
3. Remuneration of staff, Trustees and key management personnel
During the year, the charity had no permanent paid employees. There were no key management personnel, and no employee received a salary in excess of £60,000. The average monthly headcount was nil.
The charity’s Trustees were not paid any remuneration nor received any other benefits from the charity or any related entity. Trustees are entitled to reimbursement for reasonable travel costs incurred in the course of their duties. In 2024, one trustee was reimbursed the sum of £19.95 for a standard class train ticket to an event held in Cambridge (2023: none).
The charity made payments during 2024 to one temporary member of staff, a part-time bookkeeper and administrator. Her fee of £150 (2023: £350) is included in the ‘Staff and administrative costs’ line within ‘Expenditure on charitable activities’.
4. Cash at bank and in hand
| Cash at bank and in hand Total |
2024 £ 152,318 152,318 |
2023 £ 43,532 |
|---|---|---|
| 43,532 |
All the charity’s cash was held in a Sterling current account with no notice period or other restriction on the Trustees’ ability to draw down on the balance.
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Chance to Change Foundation Company no: 12071926 Charity no: 1189198
Chance to Change Foundation Notes to the Financial Statements for the year ended 30 June 2024
5. Liabilities
| . Liabilities |
||
|---|---|---|
| Creditors falling due within one year Trade creditors and accruals Total |
2024 £ (100) (100) |
2023 £ - |
| - |
The Foundation’s sole liability at the year-end was an accrual for an honorarium of £100 payable to the independent examiner (2023: nil). The independent examiner did not provide any other assurance, tax advisory, or other financial services to the Foundation.
6. Analysis of charitable funds
| Current accounting period Unrestricted income fund Goldsmiths’ restricted fund City and Guilds restricted fund Total funds Previous accounting period Unrestricted income fund Goldsmiths’ restricted fund Total funds |
Balance 01.07.23 £ 31,652 11,880 - 43,532 Balance 01.07.22 £ 4,966 - 4,966 |
Income £ Expenditure £ 61,379 (14,517) - (11,880) 90,000 (16,223) 151,379 (42,620) Income £ Expenditure £ 31,000 (4,314) 11,880 - 42,880 (4,314) |
Balance 30.06.24 £ 78,514 - 73,777 |
|---|---|---|---|
| 152,291 | |||
| Balance 30.06.23 £ 31,652 11,880 |
|||
| 43,532 |
The unrestricted income fund is used to meet the costs of all charitable expenditure not specifically funded by a restricted fund, as well as the ongoing operational and administrative costs of the Foundation.
The Goldsmiths’ restricted fund holds the proceeds of a grant awarded to the Foundation by the Goldsmiths’ Company Charity. The donor restricted the funds such that they could be spent solely on the creation of a bicycle repair workshop at HMP Pentonville. The funds granted in the previous financial year were spent in full during the current year, so the year-end balance was nil.
The City and Guilds restricted fund holds the proceeds of a grant awarded to the Foundation by the City and Guilds of London Institute. The donor restricted the funds such that they could be spent solely on two projects at HMP Pentonville: the creation of a bicycle repair workshop; and the establishment of a construction skills training centre. Part of the grant was spent during the year on the initial fit-out of the bicycle repair workshop. The remainder of the funds will be spent in future periods.
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