2023-03-30-accounts - The Future Is Bright Charitable Trust

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The Future Is Bright Charitable Trust

Annual Report of the Trustees for the period from 1 April 2022 to 31 March 2023

The Trustees of The Future Is Bright Charitable Trust present their annual report for the period ended 31 March 2023 and confirm they comply with the requirements of the Charities Act 2011, the Trust Deed and the Charities SORP (FRS 102).

The charity was set up in March 2020 and was registered by the Charities Commission on 1 May 2020. The charity is still in the early stages of its operation and has not yet started actively canvassing support or initiating any fundraising campaigns.

OUR AIMS

The charity operates under a Trust Deed dated 17 March 2020.

Under the terms of that Deed the charity is focused on initiatives in the areas of (1) the advancement of education; (2) the advancement of environmental protection and improvement; and (3) the advancement of community development.

A particular area of interest is how the UK education system and skills base and wider community changes have affected the opportunities that different generations have had in Britain over the last fifty years. The charity is focused on encouraging older generations to use their time, know-how and wealth to improve opportunities for younger generations.

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

Since the charity was set up it has been working with Oxford University on a commissioned report looking at the different opportunities post war generations in Britain have had in education, employment, housing and wealth accumulation.

The charity released this report "The Future is Bright — or is it? Comparing Opportunities across the Generations in the UK" in March 2022.

At the same time, the charity launched its website and circulated the report to a wide selection of the UK media.

Unfortunately, at the same time the report was released, the much more important and devastating Ukraine war started. This impacted the media launch of the charity report.

During the year the charity set up a bank account in Hong Kong. In the future the charity may carry out charitable activities in Hong Kong.

Fundraising and Grant Making

The charity had income amounting to GBP 54,345 during the period being GBP 54,119 donations from the founding Trustees and GBP 226 Other Income.

For the year ended 31 March 2023 the charity has income greater than GBP 25,000 and so it required its accounts to be independently examined before the 31 January 2023 filing date.

Expenditure was GBP 7,987 for the year.

A GBP 5,000 grant was made to Future First, a UK charity whose mission is to ensure every young person has a relatable role model to inspire, motivate and encourage them. They do that by helping State schools put in place an alumni society. The GBP 5,000 grant was provided to help rollout a Mentor Programme in Liverpool schools. GBP 2,771 was incurred as banking fees, principally related to the set-up of the HSBC Hong Kong bank account, and the remaining GBP 216 was for hosting services of the Just Giving website.

Achievements and Performance for the Public Benefit

TO help facilitate future funding for its objectives, the Trustees decided that they should initially fund a piece of research from a credible UK university looking at current generational inequalities in Britain.

As noted above, this report was finalised in March 2022 and sent to a wide selection of the UK media. The charity also designed a website and the reports are all available for public review on this site.

During the next financial year the Charity expects to initiate its fundraising activities with a view to raising funds from external sources and then offer grants to young people who want to help bring about change in offering young people more opportunities in education, employment and housing.

Statement of Assets and Liabilities

At the end of the period the Charity held a cash balance of GBP 58,584 at HSBC Bank plc.

The charity had no liabilities at the end of the period.

Structure, governance and management

The charity is governed by the Trust Deed signed on 20th March 2020. This document also details the rules governing appointment of Trustees.

The Trustees are responsible for making decisions on all matters of general concern and importance to the charity and how the funds of the charity are to be spent.

Administrative Information

The Charity Registration Number is 1189303. The registered and correspondence address for the charity is Third Floor, 20 Old Bailey, London EC4M 7AN.

Trustees who have served from 1 April 2022 to 31st March 2023 are:

Mark Kinvig Trustee and Chairman Kalpana Desai Trustee Philip Edward Munro Trustee

Declaration

2-oæ.r Approved by the Trustees on and signed on their behalf by Mark Kinvig (Chairman of the Trustees)

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