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2024-03-31-accounts

The Neighbourly Foundation Trustees Report and Financial Statements For the year ended 31 March 2024

Trustees Report and Financial Statements

The Neighbourly Foundation

Contents

About the Neighbourly Foundation ....................................4 Charity partners .....................................................................22 Report from the Chair of Trustees .......................................5 Our commitment to donors and supporters .................23 Purpose and activities ............................................................6 Financial review 2023-24 ....................................................24 Aims and objectives ................................................................8 Principal risks and uncertainties .......................................26 Vision and strategy ................................................................ 10 Structure, governance and management .....................27 2023-2024 highlights .............................................................12 Our charity details .................................................................29 Achievements and performance ...................................... 14 Statements of trustees responsibilities ........................... 30 Corporate partners ...............................................................20 Independent auditors report ..............................................31 Trusts and foundations .........................................................21 Financial statements .............................................................34

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Trustees Report and Financial Statements

The Neighbourly Foundation

About us

The Neighbourly Foundation (charity no. 1189514) is an independent foundation which collaborates closely with Neighbourly Limited, the impact-led giving platform that connects businesses and communities for social good. The platform facilitates meaningful partnerships between companies, local charities and communities, ensuring volunteer hours, financial donations, and surplus products contribute to sustainable community development.

The Foundation was established as a charity to advance general charitable purposes and operates to grant funds to other charitable organisations and projects. It was set up in response to the COVID pandemic in 2020 to provide easier access to funding for Neighbourly’s network of good causes that support people in need and look after the health and wellbeing of communities across the UK & Ireland. The Foundation provides the route for corporate partners to ensure funds are delivered efficiently and at scale to pre-vetted local causes that deliver against specific social and environmental impact themes.

Report from the Chair of Trustees

On behalf of the Board of Trustees of the Neighbourly Foundation, I am delighted to present our annual report for 2023-2024, marking our fourth year of operations.

high at 374. Across 2,742 good causes supported in the reporting period that equates to over 1 million people helped weekly. It’s particularly encouraging to see our network of charitable organisations grow from around 25,000 at the start of this reporting period to nearly 35,000 just 12 months later. We remain committed to nurturing and expanding this vital network, aligning our support with the corporate funding we secure.

This year has been one of resilience and growth, as we’ve continued to support our donor businesses and network of local charities and community organisations through the ongoing challenges of the UK’s cost-of-living crisis.

Throughout this period, we’ve witnessed an increasing demand from our corporate partners for targeted, fast-response, and scalable donation management programmes. These initiatives aim to make a meaningful impact in the hard-hit communities and neighbourhoods where our partners operate, reflecting a growing commitment to local-level support.

£5.4m

I’m proud to report that during this period, the Foundation has distributed charitable payments totalling over £5.4 million

In the 2023-24 financial year, we’ve maintained strong relationships with our original corporate partners, including Aldi, B&Q Foundation, Cadent Gas, Coca-Cola Europacific Partners, Southern Co-op, RSA Insurance and Lidl. These partnerships have resulted in bespoke and impactful grant and match-funding programmes. We’ve also continued our successful collaborations with Gallagher and Sainsbury’s, while welcoming new partners such as the JD Foundation and NatWest. I’m proud to report that during this period, the Foundation has distributed charitable payments totalling over £5.4 million, maintaining the level set in the previous financial year.

I extend my gratitude to our trustees for their guidance and support, and to the Neighbourly team for their dedication in ensuring the Foundation delivers targeted impact to society’s most vulnerable areas. Working with our network of donors, good causes and key partners, we are thrilled to have expanded the Foundation’s reach, providing crucial support to local communities and the frontline causes that serve them.

Our Spring 2024 community survey underscored the critical nature of our work, revealing that 78% of local causes experienced increased demand for their services in the preceding three months. Notably, 47% reported being unable to help some individuals due to capacity or funding limitations. The average number of people supported weekly by causes in our network remains consistently

As we look to the future, we remain steadfast in our mission to bridge the gap between corporate social responsibility and local community needs, fostering a more connected and resilient society.

Steve Butterworth

Chair of Trustees

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Trustees Report and Financial Statements

The Neighbourly Foundation

Purpose and activities

The Foundation operates to provide grants to other charitable organisations, enabling our corporate partners to disburse both their own and their employee donations, and respond efficiently to critical need within local communities.

Corporate partners have the option to make donations on a donor-advised basis, to be deployed as part of an emergency response or via joint partner campaigns that align with the Foundation’s current social and environmental impact themes.

The purpose of the Neighbourly Foundation is to support charities and good causes that improve the health and wellbeing of communities across the UK and Ireland.

The Foundation is registered with the Fundraising Regulator and the ICO. The Trustees award grants to not-for-profit organisations based in the UK & Ireland that are either registered with the relevant charity regulator for their region or carry out community activities that are recognised as charitable. The Foundation may also consider proposals from charities that are established outside the UK and non-charitable organisations that are established either in the UK or elsewhere.

100% of all money donated is disbursed to charity recipients. For donor-advised funds, the grant amounts are determined by the client. In the case of grants which are intended to be used for emergency aid or according to one of the Foundation’s impact themes, funds are typically administered as microgrants in the region of £500-£1,000 per charity applying, which allows the fund to minimise risk and extend impact.

Grants are made based on completion of an online application form, which minimises application time compared with traditional paper forms. Grant awards are made based on qualifiers against the grant terms, on either a first-come first-served basis, or based on donor-advised selection or employee nomination. All recipients are strictly vetted by Neighbourly Ltd prior to any award being made.

The type of activity undertaken includes funding projects that address key impact areas:

The Neighbourly Foundation disburses funds generated through several different financial donation mechanisms:

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The Neighbourly Foundation

Trustees Report and Financial Statements

Aims and objectives

This report covers the fourth year of operations for the Foundation during which time its aims and objectives were focused on disbursing funds according to clients’ donation management programmes and building the profile of the Foundation with corporate partners.

Aims for the reporting period

Respond effectively to community need in relation to the cost-of-living crisis and economic impacts

Build the profile of Neighbourly’s donation management services with existing and prospective clients

The criteria and measures used to assess success in this period include:

Successfully demonstrating our ability to respond to urgent needs, act flexibly and responsibly in support of the charity network, and report back on key impact measures has so far enabled the Foundation to further its purposes by engaging with additional corporate partners that understand the importance and value of building strong communities.

Longer-term, the Foundation aims to:

There remains an urgent need within communities for help and businesses continue to require a targeted response mechanism for supporting local good causes. The reporting period covers a challenging time for UK communities, with the cost-of-living crisis continuing creating significant pressure on the network of good causes we support.

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The Neighbourly Foundation

Trustees Report and Financial Statements Trustees Report and Financial Statements

The Neighbourly Foundation’s key priorities are to support charities and community causes that are:

Working to alleviate hunger, for example by providing food provisions and emergency supplies and supporting those campaigning to eliminate the root causes of poverty and the need for charitable food provision

Supporting the health and wellbeing of individuals through programmes that reduce social isolation and deliver community cohesion, support with mental and physical health and improve access to healthy environments

Supporting elderly or vulnerable members of the community and those suffering economically, socially or from ill health as a result of poverty, cost-of-living crisis, global conflict or other macro forces

Improving environmental sustainability through the promotion and creation of green spaces, protection of natural habitats and local biodiversity, acceleration of a low carbon future and waste reduction programmes

Helping people to fulfil their potential and achieve aspirations through educational programmes and support to access jobs that provide financial independence

Vision and strategy

The vision of The Neighbourly Foundation is to improve the health and wellbeing of local communities and environments by encouraging and facilitating corporate community investment.

The Foundation is governed by the charity trustees who have a duty to apply the Foundation’s assets to advance its objectives and have ultimate responsibility for all grantmaking decisions.

The Foundation has a Strategic Partnership Agreement with Neighbourly Ltd under which Neighbourly provides resources to the Foundation free of charge to support its charitable activities. The relationship between the two organisations is one of association and collaboration.

Trustees Report and Financial Statements

The Neighbourly Foundation

2023-2024 highlights

£5.4m

A total of £5.4 million was paid out in grants to charitable organisations from April 2023 to March 2024

2,742 charities

2,742 distinct charities and community causes were supported by donations from the Foundation

Over 1 million people

1.03 million people are supported weekly by the 2,742 charities that received donations

£1.1m

Sainsbury’s reached their £3 million to-date milestone, with just over £1.1 million disbursed this year

£196k

New corporate partner JD Foundation launched donor-led

grant programmes with charitable payments totalling over £196,000

£1.8m

Our ongoing partnership with the B&Q Foundation facilitated over £1.8 million in donations to charities helping to improve housing and community spaces

£800k

Lidl GB donated nearly £800,000 this year through a combination of their ongoing Community Fund, Toy Bank Fund and Hygiene Poverty Fund

£387k

Southern Co-op ’s neighbourhoods and food bank funds provided over £387,000 to communities around their stores

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Trustees Report and Financial Statements

The Neighbourly Foundation

Achievements and performance

Corporate client programmes

£65,317 was donated to charities and community groups through Cadent’s matched giving initiative and volunteering programmes.

£37,000 was donated by Aldi as part of their ongoing Winter Fund and a 1,000th store opening celebration.

Grants of £1,000 were given to charities and community groups partnered with an Aldi store for food surplus that supports families and children with access to food and daily essentials. The funding was designed to be used for the provision of food parcels and meals, or to build capacity within food banks and community food programmes.

Up to £400 in matched funds was offered to any charities supported by Cadent employees through fundraising or personal donations. Up to £200 was offered as a donation to the organisations that Cadent employees volunteered for throughout the year.

“Funding from Cadent will allow us to continue our vital work taking on pancreatic cancer and transforming the future for everyone affected. With your support we will do this by funding groundbreaking research into early diagnosis and new treatments and providing specialist support and information to help patients and families cope with their diagnosis.”

“The Neighbourly grants provide much needed additional food and resources to enable us to continue to provide food parcels to vulnerable refugees and asylum seekers.”

Meeting Point

Pancreatic Cancer UK

"Between October 2023 and April 2024, the Winter Shelter provided 5,693 nights’ protection, three meals a day and support for 190 people that would otherwise have been rough sleeping during the coldest months."

Emmanuel House Support Centre

£41,615 was donated by Canada Life as part of their community grants and volunteering campaigns.

£141,232 was donated by Certas Energy as part of their ‘Making a Difference’ grants and match funding campaign.

Grants of £400-£1,000 were provided to charities or community organisations nominated by Canada Life colleagues which could be a cause they have a personal connection to or an organisation they have volunteered with. £35 per person was also donated to a range of charities that Canada Life employees volunteered with throughout the year.

Certas aims to invest 1% of their profits into community projects across the UK, to create a culture of community service and good partnerships with local non-profits. Funding is open to registered charities to apply for a grant of up to £1,500 and every quarter, ten of their Gulf Service Stations are given £1,000 each to donate to a local good cause of their choice.

“On behalf of Gratitude can you please pass our grateful thanks to Canada Life. It is beyond incredible what the team did to help us on our journey with the kitchen. We cannot thank you enough.” Gratitude

“The grant contributed towards Emmanuel House’s Winter Shelter, which provides short-term emergency accommodation for homeless people in Nottingham. Between October 2023 and April 2024, the Winter Shelter provided 5,693 nights’ protection, three meals a day and support for 190 people that would otherwise have been rough sleeping during the coldest months.” Emmanuel House Support Centre

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The Neighbourly Foundation

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Impact Report and Financial Statements
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£24,563 was donated to local charities through the Coca-Cola Europacific Partners 2023 volunteering programme and £84,000 through the Coca-Cola GB Christmas Fund.

£412,429 was paid out to charities and community organisations through Gallagher’s Community Fund, volunteering and match-giving programmes.

Gallagher’s Community Fund allows employees to nominate a different good cause they are passionate about to receive a £1,000 donation each calendar quarter. Employees also receive up to £700 each year to boost their fundraising efforts for their chosen charity through match-funding. Through their ‘Making A Difference Award’ employees put forward good causes that they have built a strong relationship with and a judging panel of Gallagher ESG committee members select the top 5 causes. In 2024, £25k was awarded to the selected winner, Dandelion Time and £5k to each of the 4 runners up.

Coca-Cola GB teamed up with Neighbourly for their Christmas campaign to donate £84,000 across 84 charities and community groups in the locations selected for their seasonal truck tour. Donations were also made by Coca-Cola Europacific Partners to charities throughout the year to support their volunteer events, with focus areas including carbon reduction, environment and water conservation, litter and recycling.

“This fund was extremely helpful to our charity because we support families that are on low income. A great percentage of the funds was used to buy food supplies given to the families during the winter months.” The Redeemed Christian Church Of God, King Of Glory

“We are extremely grateful to Gallagher for this fantastic Making a Difference award. It is wonderful to receive this recognition for our vital and transformative work with children and families across Kent who are struggling with the effects of trauma. This huge sum will fund eight children and families’ ten week programmes, and will make a real and tangible difference to these children’s lives and futures.” Dandelion Time

£500,000

An annual £500,000 community fund is made available to good causes partnered with Lidl which are helping to alleviate food poverty.

£10,397 was donated by Heineken as part of their community fund, match funding and volunteering campaigns.

£795,388 was donated by Lidl through their Community Fund, Hygiene Poverty Fund and Toy Bank Fund.

An annual £500,000 community fund is made available to good causes partnered with Lidl which are helping to alleviate food poverty. The fund provides financial support for emergency food provision alongside grants to support larger, capacity-building initiatives. Grants in this period ranged from £500 to £5,000. Funds were also provided to their Christmas Toy Bank collectors and to organisations tackling hygiene poverty.

Employee fundraising was match-funded by Heineken, up to a maximum of £200 per individual application and up to £500 for team applications. £2,000 was also paid out as part of their community fund.

“The funds were used towards the purchase of a new gazebo to replace one that was badly damaged by high winds. This has allowed us to continue with our fundraising efforts on which the Group’s existence relies. We are extremely grateful for these additional funds.”

“The £5,000 grant has been used to expand our existing community kitchen in order to allow us to support more individuals to develop cooking and nutritional skills. We have purchased three new cookers and cooking equipment. As a result we now have a second fully operational teaching kitchen. The grant has extended our ability to support local people to learn basic cooking skills, helping them to cook from scratch and make healthy food choices. This will improve access to affordable, nutritious food for all the family.”

2nd Cove Sea Scouts

Foothold Cymru

Foothold Cymru

Trustees Report and Financial Statements

The Neighbourly Foundation

£147,000 was donated by NatWest as part of their Royal Bank Regenerate Fund in Scotland.

£84,098 was donated by RSA Insurance through their match-funding and volunteering programmes.

RSA supports employees’ fundraising efforts by matching pound-for-pound what they raise for UK registered charities. £25 per person, per event was also donated as part of their volunteer activity.

The fund was aimed at supporting causes who are making positive changes to the environment across Scotland. The total fund provided 50 grants of £3,000 each to community organisations and charities with projects focused on a range of sustainability and environmental protection themes.

“This grant has helped support our developing playtimes project for over four hundred children, transforming the space from a bland playground into an area where children thrive and grow in their fitness and social well being.”

“This funding has been instrumental in our most recent phase of works retrofitting our facilities to become sustainable, energy-positive spaces that can withstand the pressures of any forthcoming climate and economic impact. The commitment to energypositivity across both buildings is part of our long term ambition to champion the possibility of energy positive public spaces and the journey towards locally owned renewable energy generation.” Agile City CIC

Northlands Wood Primary Academy

£147,000

was donated by NatWest as part of their Royal Bank Regenerate Fund in Scotland.

£1,125,713 was donated by Sainsbury’s through their ‘Helping Everyone Eat Better’ community grants programme.

£387,670 was donated by Southern Co-op via a number of community campaigns which focus on creating safer, greener and healthier neighbourhoods.

Funds were donated as either £500, £1,500 or a bespoke larger Stardust grant to store-nominated charities, CICs and community groups that help people access food, and/or help lift people out of food poverty.

This included a Winter Fund and Food Bank campaign. Good causes across the south of England received grants between £500 and £1,500 as part of local funding, partnerships and food bank programmes.

The £150,000 Safer Neighbourhood Fund was shared across a number of charities and good causes with the aim of helping tackle the causes of retail crime in the communities where Southern Co-op operate.

“The £500 we received was used to purchase 385kg of food. This will feed around 40 people. Monetary grants and donations are so important for us. During the current cost-of-living crisis, the demand for our service is becoming greater. Without generous donations and grants we simply would not have the resources to give out. “

“At the moment food donations have dropped due to everyone feeling the pinch. Without the benefit of generous donors like the Co-op we would not be able to help those most in need.”

Kinson and West Howe Foodbank

Bognor Regis Foodbank

"Without the benefit of generous donors like the Co-op we would not be able to help those most in need.”

Bognor Regis Foodbank

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Trustees Report and Financial Statements

The Neighbourly Foundation

Corporate partners

Companies that donated to charities through the Neighbourly Foundation in this reporting period:

Trusts and foundations

£1,816,166 was donated by the B&Q Foundation to charities that are helping create better, safer places for the people in communities who need them most. The grants, typically up to around £5,000 to £10,000, were focused on support for projects which provide, maintain, repair or improve housing or community space.

£196,250 was donated by the JD Foundation as part of their grants and colleague charity nomination programme, with a focus on supporting women, girls and young people. Grants of between £1,500 and £10,000 were awarded from the ‘Together We Can’ fund to causes supporting women and girls. Each JD employee (including JD Sports, Blacks, Millets, Size, Go Outdoors and head office staff) could also nominate a registered charity to receive a grant of between £1,250 and £5,000 to help young people reach their full potential.

97,000

A total of 261 charities were supported by the grants, which collectively support over 97,000 people each week.

18,000

49 charities were supported by the funding, which collectively support over 18,000 people each week.

“With the generous funding from the B&Q Foundation, we were able to renovate two bathrooms in a supported house. The quality of the new facilities, including the reconfiguring of a space into a utility room, has made the property a much more welcoming home for the residents. By making this home a quality place to live, our residents’ wellbeing is hugely improved.”

“The JD Foundation’s generous support will assist the senior management team to generate more income via our training and coordination strategy in order to sustainably support more women and girls who have experienced domestic and sexual abuse and stalking in the future.”

King’s Arms Project

Aurora New Dawn

We’d like to thank the Foundation’s corporate partners for their contributions during this period. Due to their support and continued dedication to community investment, the Neighbourly Foundation was able to positively impact many thousands of charities and millions of individuals.

“This is an incredible gift. Thanks to the B&Q Foundation we can continue to transform the lives of children aged 0-5 with special educational needs and disabilities and their families at this particularly challenging time.”

The Peter Pan Centre for Children with Special Needs

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Trustees Report and Financial Statements

The Neighbourly Foundation

Charity partners

Donations have been made to charities through the following programmes:

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Programme Good causes supported
Aldi 36
B&Q Foundation 261
Cadent Gas 77
Canada Life 62
Certas Energy 103
Coca-Cola European Partners 110
Gallagher UK 352
Hays 1
Heineken 30
JD Foundation 49
Johnson Matthey 1
Lidl 1,180
M&G 11
NatWest / RBS 50
RSA Insurance 103
Sainsbury’s 769
Samsung 1
Southern Co-op 421
William Hill 6
Neighbourly Warm Communities Fund 51
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2,742

unique charities and community causes were supported across all programmes that help an average of 374 people every week (figure from May 2024 community survey)

1.03m

people supported weekly by the charities that have received donations from the Foundation.

Key Sustainable Development Goals supported by The Foundation:

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Sustainable Development Goal Total (£) % by SDG
Good health and wellbeing 2,074,669 38%
Zero hunger 1,013,465 19%
No poverty £990,187 18%
Reduced inequalities £638,597 12%
Sustainable cities and communities £191,430 4%
Quality education £145,051 3%
Gender equality £130,758 2%
Affordable and clean energy £50,172 1%
Other (under 1% each) £176,671 3%
Grand total £5,411,000 100%
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Our commitment to donors and supporters

We are grateful for the generosity of our donors and supporters and we commit to:

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Trustees Report and Financial Statements

Financial review 2023-24

During this reporting period the Neighbourly Foundation received £5.8m of restricted funding and donated £5.4m in grants to charitable organisations.

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Where our income Where we spend
comes from our income
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All of our income has come from charitable donations, either from the Foundation’s corporate partners, trusts and foundations, individual donors or Neighbourly Ltd. All donations are treated as restricted with the exception of Neighbourly Ltd, whose donation is to support running costs of the charity.

Our sole activity is granting funds to other charitable organisations and projects, therefore this accounts for 99% of our spend. Any administrative costs, for example audit fees, insurance etc, are covered by donations from Neighbourly Ltd.

Reserves

The majority of cash at bank is restricted with only a small balance being unrestricted. Grants are then made to charitable organisations from balances held on behalf of corporate and other donors. Unrestricted funds are held to cover the running costs of the charity including, for example, audit fees and insurance.

Under the Strategic Partnership Agreement with Neighbourly Ltd, all resources to enable the charity to operate e.g. access to the Neighbourly platform and staff costs, are provided free of charge. The trustees have concluded that it is necessary to maintain only minimal reserves to cover the running costs of The Neighbourly Foundation and at any time sufficient reserves are held to cover three months of committed expenditure.

At the period end the charity had total reserves of £1,559k with restricted reserves of £1,535k and unrestricted reserves of £24k. The restricted reserves are not available for general purposes of the charity and are to be donated to other charitable organisations in the next period.

Going concern

The trustees have a reasonable expectation that The Neighbourly Foundation has adequate resources through its partnership with Neighbourly Ltd to continue to operate for the foreseeable future. Hence the annual financial statements have been prepared on the going concern basis. Please refer to the Notes to the Financial Statements for further detail.

Expenditure is split as follows:

The donations are split across the categories as follows:

Corporate Donations: £3,452,906 (59.5%) Trusts and Foundations: £2,334,696 (40.2%) Individual donations: £300 (0%) Neighbourly Ltd: £18,952 (0.3%)

Grants to charitable organisations and projects: £5,410,487 (99%)

Administrative costs: £17,998 (1%)

At the period end the charity had total reserves of £1,559k with restricted reserves of £1,535k and unrestricted reserves of £24k.

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The Neighbourly Foundation

Trustees Report and Financial Statements

Principal risks and uncertainties

Structure, governance and management

The Neighbourly Foundation is a company limited by guarantee (12541286) (England and Wales) incorporated 31 March 2020 and is registered with the Charity Commission as a charity (1189514). It is governed by its Memorandum and Articles of Association adopted on the same date.

The Foundation is operating in a challenging environment due to a number of factors. The ongoing impacts of the cost-of-living crisis are creating a strain on both businesses and the charitable sector, as well as longterm financial and health implications for beneficiaries.

Charities and community organisations are facing uncertainties, reduced funding and resources, increased costs and reduced volunteer capacity. An additional threat for communities is climate related disasters, including flooding.

The Neighbourly Foundation has been proactive in providing guidance to its network of causes regarding the management of risks whilst continuing to survey causes periodically to ensure we remain responsive to changing needs. Neighbourly continues to expand its number of corporate partners donating through the Foundation in order to provide relevant support for local good causes and communities.

Objects

The Objects of the Foundation are as set out in the Memorandum and Articles of Association. The Foundation has been established to advance general charitable purposes for the public benefit and will operate principally by granting funds to charitable organisations and projects which are charitable under the law of England and Wales (provided that the Charity may not further any purposes which are not charitable in accordance with the laws of Scotland and Northern Ireland).

Organisation

The charity was established on 31 March 2020 as a company limited by guarantee, with Neighbourly Ltd as its sole member. Further to a Special Resolution of 26 February 2021 the membership was transferred from Neighbourly Ltd to Howard Russell one of its Trustees, and further to a Resolution of 13 September 2021, to all Trustees from time to time. The liability of each member under the guarantee is £1.

The Foundation has a Strategic Partnership Agreement with Neighbourly Ltd under which Neighbourly has agreed to provide Resources to the Foundation free of charge for the Foundation to pursue its charitable purposes. The relationship between the two organisations is one of association and collaboration and not one involving direction or control. Neighbourly Ltd recognises and understands that the Trustees have responsibility for governing the Foundation and does not interfere in the day to day running of the Foundation. Neighbourly does not act in any way that prejudices the independent decisionmaking of the Trustees or which inhibits the Trustees’ ability to fulfil their charity law duties.

The Articles contain a conflict of interest provision to ensure that Neighbourly Connected Directors cannot participate in any decision making that the Trustees recognised as Independent Directors consider relates to the relationship between the Neighbourly Foundation and Neighbourly.

Board meetings are held quarterly, some of which during the reporting period have been held remotely.

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Trustees Report and Financial Statements

Public Benefit

Related parties

The trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning future activities. The Neighbourly Foundation’s focus on crisis recovery, community health and wellbeing, skills development and environmental stewardship, working in partnership with local charities and community groups, will have a direct and positive benefit on individuals that are isolated, marginalised or vulnerable and those living in deprived neighbourhoods.

Steve Butterworth acts as the Chair of the charity and is also the CEO of Neighbourly Ltd. Chris Kelly is non-executive Director of Neighbourly Ltd. Both own shares in that company.

Remuneration

None of our trustees receive remuneration or other benefit from their work with the charity.

Recruitment of Trustees

The charity ended the year with four Trustees supporting the charity. As the charity grows it will aim to recruit additional trustees who have the skills the charity needs to develop. It values the benefits of having members with different backgrounds, expertise and experience.

Fundraising Standards

The Trustees are aware of current legislation and updated guidance from the Charity Commission. We are a fully contributing member to the Fundraising Regulator and follow best practice in our fundraising. We are compliant with the regulation where it applies to us. We do not contract with third party fundraising organisations.

Trustee induction and training

All new trustees undertake an induction programme, which includes visiting our partner Neighbourly, understanding the roles and duties of the trustees, company and charity law and governance, and financial and risk management.

Risk management

The trustees are cognisant of the reliance that the Foundation has on its partnership with Neighbourly. The trustees regularly seek assurances that that support remains in place and will do so for the foreseeable future.

Steve Butterworth (Chair) 15th November 2024

Charity name The Neighbourly Foundation

Registered charity number 1189514 (England and Wales)

Registered company number 12541286 (England and Wales)

Trustees and Directors

Steve Butterworth (Chair of Trustees) Chris Kelly Howard Russell Nicholas Smailes

Registered office Engine Shed, Station Approach, Redcliffe, Bristol BS1 6QH

Bankers

Lloyds Bank, 3rd Floor, 25 Gresham Street, London, EC2V 7HN

Legal advisers

Bates Wells, 100 Queen Street Place, London, EC4R 1BE

Auditors

Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL

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Trustees Report and Financial Statements

The Neighbourly Foundation

Statements of trustees responsibilities

The Trustees (who are also the directors of the Neighbourly Foundation for the purposes of company law) are responsible for preparing a Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the members of the Board of Trustees and signed on its behalf by:

In so far as the trustees are aware at the time of approving our Trustees’ Annual Report:

Steve Butterworth, Chair of Trustees 15th November 2024

Independent auditors report

the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Opinion

We have audited the financial statements of The Neighbourly Foundation (the ‘charity’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

Conclusions relating

to going concern In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

In our opinion the financial statements:

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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influence the economic decisions of users taken on the basis of these financial statements.

Opinion on other matters prescribed by the companies act 2006

and from the requirement to prepare a Strategic report.

In our opinion, based on the work undertaken in the course of the audit:

Responsibilities of trustees

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

adequate for our audit have not Auditors’ responsibilities for the have considered the opportunities been received from branches audit of the financial statements and incentives that may exist not visited by us; or Our objectives are to obtain within the organisation for fraud • the financial statements are reasonable assurance about and identified the highest area not in agreement with the whether the financial statements of risk to be in relation to revenue accounting records and returns; as a whole are free from material recognition, with a particular or misstatement, whether due to risk in relation to year-end cut • certain disclosures of Trustees’ fraud or error, and to issue an off. In common with all audits remuneration specified by law Auditors’ report that includes our under ISAs (UK) we are also are not made; or opinion. Reasonable assurance required to perform specific • we have not received all the is a high level of assurance, but procedures to respond to the risk information and explanations is not a guarantee that an audit of management override. we require for our audit; or conducted in accordance with • The Trustees were not entitled ISAs (UK) will always detect a We have also obtained to prepare the financial material misstatement when it understanding of the legal and statements in accordance with exists. Misstatements can arise regulatory frameworks that the the small companies regime from fraud or error and are Charity operates in, focusing and take advantage of the considered material if, individually on provisions of those laws and small companies’ exemptions in or in the aggregate, they could regulations that had a direct effect preparing the Trustees’ report reasonably be expected to on the determination of material

amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching to material grants received by the Charity. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or avoid a material penalty. These include data protection regulations, health and safety regulations and employment legislation.

Our procedures to respond to risks identified included the following:

the business rationale of

the trustees for our audit work, for this report, or for the opinions we have formed.

significant transactions that are unusual or outside the normal course of business.

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.

David Butler FCA DChA

(Senior statutory auditor)

for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL

Because of the inherent limitations Bristol of an audit, there is a risk that we BS1 6FL will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. 15th November 2024 This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc. org.uk/auditorsresponsibilities. This description forms part of our Auditors’ report.

Use of our report

This report is made solely to the trustees in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an Auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

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Financial statements

The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

The Trustees present their annual report together with the audited financial statements of the Charity for the year ended 31 March 2024. The Annual Report serves the purposes of both a Trustees’ report and a directors’ report under company law.

Since the Charity qualifies as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.

Statement of financial activities for the year ended 31 March 2024 (incorporating income and expenditure account)

----- Start of picture text -----
Notes Unrestricted Restricted 2024 2023
funds funds Total funds Total funds
£’000 £’000 £’000 £’000
Income from:
Donations and legacies 3 19 5,788 5,807 5,787
Other income 4 13 - 13 2
Total 32 5,788 5,820 5,789
Expenditure on:
Charitable activities 6 18 5,410 5,428 5,402
Total 18 5,410 5,428 5,402
Net income/(expenditure) 14 378 392 387
Reconciliation of funds:
Total funds brought forward 10 1,158 1,168 781
Net movement 14 378 392 387
Total funds carried forward 24 1,536 1,560 1,168
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the period. The notes on pages 38 to 45 form part of these financial statements.

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Balance sheet at 31 March 2024

Balance sheet at 31 March 2024
Notes 2024
£’000
2023
£’000
Current assets
Debtors 11 219
276
Cash at bank 1,354
905
Total 1,573
1,181
Creditors
Amounts falling due within one year 12 (13)
(13)
Net current assets/(liabilities) 1,560
1,168
Total assets less current liabilities 1,560
1,168
Net assets 1,560
1,168
Total net assets 1,560
1,168
Charity funds
Restricted funds 13 1,536
1,158
Unrestricted funds 13 24
10
Total funds 1,560
1,168

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011. 28

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

Steve Butterworth Chair of Trustees Date: 15th November 2024

The notes on pages 38 to 45 form part of these financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

Statement of Cash Flows for the year ended 31 March 2024

Statement of Cash Flows for the year ended 31 March 2024
2024 2023
£’000 £’000
Cash fows from operating activities:
Net cash used in operating activities 449 274
Change in cash and cash equivalents in the reporting period 449 274
Cash and cash equivalents at the beginning of the period 905 631
Cash and cash equivalents at the end of the period 1,354 905

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Notes to the financial statements

benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

1. General Information

To conclude on this basis the trustees reviewed the cash flow forecast to October 2025 (12 months from the date of signing). As ongoing funding from Neighbourly Ltd is also key in our considerations, the budget and cash flow forecasts of the company were also reviewed. No material uncertainties were identified.

The Neighbourly Foundation is a charitable company limited by guarantee and not having a share capital, registered in England and Wales. The registered office is Engine Shed, Station Approach, Bristol, BS1 6QH.

2. Accounting policies

2.3 Income

2.1 Basis of preparation of financial statements

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.

The Neighbourly Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.2 Going concern

The accounts have been prepared on a going concern basis which assumes that sufficient working capital will be available for operational requirements.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

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 institution with whom the funds are deposited.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects

the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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3. Income from donations and legacies

----- Start of picture text -----
2024 2023
£’000 £’000
Restricted — Donations 5,788 5,771
Unrestricted — Donations 19 16
Total 5,807 5,787
----- End of picture text -----

4. Investment income

----- Start of picture text -----
2024 2023
£’000 £’000
Investment income - Unrestricted 13 2
----- End of picture text -----

7. Allocation of support costs

Support costs of £18,000 are allocated to charitable activities. These costs include Marketing costs (£700), audit and accountancy fees (£13,690), bank fees (£500), legal fees (£280) and insurance (£2,700). All other support costs are borne directly by Neighbourly Limited and are not recharged to The Neighbourly Foundation as it is not possible for the allocation to be accurately determined.

8. Auditors’ remuneration

----- Start of picture text -----
2024 2023
£’000 £’000
Fees payable to the Charity’s auditor for the audit of the 11,050 10,750
Charity’s annual accounts
Fees payable to the Charity’s auditor in respect of: 2,250 2,200
Preparation of the statutory accounts
----- End of picture text -----

9. Staff costs

Staff costs are borne wholly by Neighbourly Limited and not recharged to The Neighbourly Foundation.

10. Trustees’ remuneration and expenses

5. Analysis of grants

----- Start of picture text -----
2024 2023
£’000 £’000
Grants to Institutions 5,410 5,384
----- End of picture text -----

The Neighbourly Foundation provides micro-grants to support good causes in line with its charitable objectives. Further analysis can be found under the ‘Charity Partners’ heading earlier in this report.

  1. Analysis of expenditure on charitable activities Summary by fund type

----- Start of picture text -----
2024 2023
£’000 £’000
Unrestricted funds 18 18
Restricted funds 5,410 5,384
Total 5,428 5,402
----- End of picture text -----

During the year, no Trustees received any remuneration or other benefits. During the year ended 31 March 2024, no Trustee expenses have been incurred.

  1. Debtors

----- Start of picture text -----
2024 2023
£’000 £’000
Due within one year
Trade debtors 204 266
Amounts owed by participating interests 10 10
Prepayments and accrued income 5 -
Total 219 276
----- End of picture text -----

12. Creditors: amounts falling due within one year

----- Start of picture text -----
2024 2023
£’000 £’000
Accruals and deferred income 13 13
Total 13 13
----- End of picture text -----

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13. Statement of funds

----- Start of picture text -----
Statement of funds Balance at 1 April Income Expenditure Transfers Balance at 31
(current year) 2023 in/out March 2024
£’000 £’000 £’000 £’000 £’000
Unrestricted funds
Income from participating 10 32 (18) - 24
interests
Restricted funds
B&Q 45 1,835 (1,816) - 64
Cadent 26 53 (65) - 14
Lidl 376 673 (795) - 254
RSA 65 120 (84) - 100
Sainsbury’s 243 1,169 (1,126) - 286
Southern Co-op 33 584 (388) - 229
Aldi 67 11 (37) - 41
Gallagher 114 347 (413) - 48
Certas 74 96 (141) - 29
Coca-cola Europacific 43 130 (108) - 65
Partners
Canada Life - 58 (42) - 16
NatWest/RBS - 150 (147) - 3
The JD Foundation - 500 (196) - 304
Stagecoach - 25 - - 25
Good health & well-being 31 10 (17) (1) 23
Climate Change 11 - - (11) -
Volunteering support 4 8 (9) - 3
Community fund - 17 - 12 29
Community fund - Warm 26 2 (26) - 2
Communities
-
1,158 5,788 (5,410) 1,536
Total of funds 1,168 5,820 (5,428) - 1,560
----- End of picture text -----

B&Q: These funds were allocated to support projects that are improving, maintaining, providing or creating places to make people feel comfortable, safe and welcome.

RSA: These funds were donated to charities and community groups through RSA’s employee-led matched giving initiative and volunteering programmes.

Neighbourhood Local Partnerships campaign and Food Bank campaign.

Aldi: These funds were allocated to charities and community groups partnered with an Aldi store for food surplus and that support families and children with access to food and daily essentials.

Cadent: These funds were donated to charities and community groups through Cadent’s employee-led matched giving initiative and volunteering programmes.

Sainsbury’s: These funds were donated to store-nominated charities, CICs and community groups that help people to access food, and/or help lift people out of food poverty.

Gallagher: These funds were paid out to charities and community organisations through Gallagher’s employee-nominated community fund, volunteering and match giving programmes.

Lidl: This community fund is a quarterly recurring fund made available to good causes partnered with Lidl which are helping to alleviate food poverty.

Southern Co-op: These funds were allocated to good causes located across the South of England through various campaigns including their local funding scheme, Love Your

----- Start of picture text -----
Statement of funds Balance at 1 April Income Expenditure Transfers Balance at 31
(prior period) 2022 in/out March 2023
£’000 £’000 £’000 £’000 £’000
Unrestricted funds
Income from participating 10 18 (18) - 10
interests
Restricted funds
B&Q 45 1,597 (1,597) - 45
M&S - 1,000 (1,000) - -
Cadent 24 50 (48) - 26
Lidl 125 743 (492) - 376
RSA 45 80 (60) - 65
Sainsbury’s 274 1,090 (1,121) - 243
Southern Co-op 35 439 (416) (25) 33
Aldi 28 258 (219) - 67
Gallagher 50 300 (236) - 114
Certas - 86 (12) - 74
Coca-cola Europacific 25 50 (32) - 43
Partners
Good health & well-being 47 22 (38) - 31
Climate Change 11 - - - 11
Reduced inequalities 16 1 (17) - -
Volunteering support - 12 (8) - 4
Community fund - SOC 24 - (26) 2 -
Community fund - COVID19 22 17 (7) (32) -
Community fund - Warm - 26 (55) 55 26
communities
771 5,771 (5,384) - 1,158
Total of funds 781 5,789 (5,402) - 1,168
----- End of picture text -----

Certas: Funding was open to registered charities to apply for grants as part of their ‘Making a Difference’ campaign.

cause they have a personal connection to or an organisation they have volunteered for.

Community Fund and Warm Communities Fund: These funds were restricted to support charities that help local communities affected by the cost-of-living crisis.

NatWest/RBS: The fund was aimed at supporting causes who are making positive changes to the environment across Scotland.

Coca-Cola Europacific Partners & Coca-Cola GB: These funds were donated as part of a Christmas campaign and volunteer events to support projects focusing on carbon reduction, environment and water conservation, litter and recycling.

We also have a number of smaller funds that overall support the following UN SDGs; Good Health & Wellbeing; Climate Change; Reduced Inequalities.

JD Foundation: This fund is part of the JD Foundation grants and colleague charity nomination programme, with a focus on supporting women, girls and young people.

Canada Life: Grants were provided to charities or community organisations nominated by Canada Life colleagues which could be a

Stagecoach: This is a new fund in 2024 and grant payments started in FY 2025.

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14. Summary of funds

----- Start of picture text -----
Summary of funds Balance at Income Expenditure Transfers Balance at 31
(current period) 1 April 2023 in/out March 2024
£’000 £’000 £’000 £’000 £’000
General funds 10 32 (18) - 24
Restricted funds 1,158 5,788 (5,410) - 1,536
Total 1,168 5,820 (5,428) - 1,560
Summary of funds Balance at Income Expenditure Transfers Balance at 31
(prior period) 1 April 2022 in/out March 2023
£’000 £’000 £’000 £’000 £’000
General funds 10 18 (18) - 10
Restricted funds 771 5,771 (5,384) - 1,158
Total 781 5,789 (5,402) - 1,168
----- End of picture text -----

17. Analysis of cash and cash equivalents

2024
£’000		 2023
£’000
Cash at bank and in hand 1,354 905
Total cash and cash equivalents 1,354 905
18. Analysis of changes in net debt
Cash fows
£’000
2024
£’000
2023
£’000
Cash at bank and in hand 449 1,354
905

19. Members’ liability

15. Analysis of net assets between funds

Unrestricted Restricted funds Total funds Total funds
funds 2024 2024 2024 2023
£’000 £’000 £’000 £’000
Current assets 37 1,536 1,573 1,181
Creditors due within oneyear (13) - (13) (14)
Total 24 1,536 1,560 1,167

16. Reconciliation of net movement in funds to net cash flow from operating activities

2024
£’000		 2023
£’000
Net income for theperiod(asper SOFA) 392 387
Adjustments for:
Decrease/(increase)in debtors 57 (111)
Increase in creditors - (2)
Net cashprovided byoperatingactivities 449 274

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

20. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.

Trustees remuneration and expenses is detailed in note 10.

21. Controlling party

There is no registrable person or registrable relevant legal entity at the date of signing.

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Impact Report and Financial Statements ~~For the year ended 31 March 2024~~

46