ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 6TH JUNE 2025
ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1190150
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
CONTENTS
Page 3 to 4 Trustees Report Page 5 Statement of Financial Activities Page 6 Balance Sheet Pages 7 to 11 Notes to the Financial Statements
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
TRUSTEES REPORT FOR THE YEAR ENDED 6TH JUNE 2025
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1190150 DATE OF REGISTRATION 29th June 2020 START OF FINANCIAL YEAR 7th June 2024 END OF FINANCIAL YEAR 6th June 2025 TRUSTEES AS AT 6TH JUNE 2025 Luis Kelly LEGAL STATUS Charitable Incorporated Organisation
GOVERNING INSTRUMENT CIO - Foundation Registered 29th June 2020
OBJECTS
For the public benefit to promote the education (including social training) for people of all ages in the UK by providing their education to undertake travel in furtherance of that education or to prepare for entry to any occupation, trade or profession on leaving any education establishment.
CORRESPONDENCE ADDRESS
27 Old Gloucester Street London WC1N 3AX
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
TRUSTEES REPORT (Continued) FOR THE YEAR ENDED 6TH JUNE 2025
Trustees' Responsibilities
The Charities Act 2011 require the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:
-
Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
6th June 2025
Approved by the Trustees on ……………………………………………………………………………………………………………
Signed on their behalf by Trustee ………………………………………………………………………………………………………
Printed Name: Luis Kelly
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 6TH JUNE 2025
| Unrestricted | Restricted | TOTAL | TOTAL | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2025/24 | 2023/24 | |||||
| Note | £ | £ | £ | £ | ||||
| INCOMING RESOURCES | ||||||||
| Incoming Resources from Generated Funds | ||||||||
| Donations & Legacies | 3a | - | - | - | - | |||
| TOTAL INCOMING RESOURCES | - | - | - | - | ||||
| RESOURCES EXPENDED | ||||||||
| Costs of Generating Funds | ||||||||
| Charitable Activities | 4a | - | - | - | - | |||
| Governance Costs | 4b | - | - | - | - | |||
| TOTAL RESOURCES EXPENDED | - | - | - | - | ||||
| NET INCOMING (OUTGOING) RESOURCES | - | - | - | - | ||||
| Total Funds Brought Forward | - | - | - | - | ||||
| TOTAL FUNDS CARRIED FORWARD | - | - | - | - |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 7 to 11 form part of these dormant financial statements.
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
BALANCE SHEET AS AT 6TH JUNE 2025
| Unrestricted | Restricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Note | Funds | Funds | 06-Jun-25 | 06-Jun-24 | |||||
| £ | £ | £ | £ | ||||||
| Fixed Assets | |||||||||
| Tangible Assets | 2 | - | - | - | - | ||||
| Investments | 5 | - | - | - | - | ||||
| Total Fixed Assets | - | - | - | - | |||||
| Current Assets | |||||||||
| Debtors & Prepayments | 8 | - | - | - | - | ||||
| Cash at Bank and in Hand | 7 | - | - | - | - | ||||
| Total Current Assets | - | - | - | ||||||
| Creditors:Amounts falling due within | one |
9 | - | - | - | - | |||
| year | |||||||||
| NET CURRENT ASSETS | - | - | - | - | |||||
| TOTAL ASSETSless current liabilities | - | - | - | - | |||||
| Creditors:Amounts falling due in more | than | 10 | - | - | - | - | |||
| one year | |||||||||
| NET ASSETS | - | - | - | - | |||||
| Funds of the Charity | |||||||||
| General Funds | - | - | - | - | |||||
| Restricted Funds | 6 | - | - | - | - | ||||
| Total Funds | - | - | - | - |
6th June 2025
Approved by the Trustees on …………………………………………………………………………………………………………… Signed on their behalf by Trustee ……………………………………………………………………………………………………… Printed Name: Luis Kelly
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6TH JUNE 2025
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The 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. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 6TH JUNE 2025
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
Unrestricted Funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted Funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings made at the Sunday fellowship meetings.
Designated Funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Taxation
The charity is exempt from tax on its charitable activities.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial year.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 6th June 2025 : None
6th June 2024 : None
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 6TH JUNE 2025
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2024/25 2023/24 £ £ £ £ - - - - |
|---|---|
| - - - - |
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Administrative Expenses b) Governance Costs Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2024/25 2023/24 £ £ £ £ - - - - |
|---|---|
| - - - - |
|
| - - - - |
|
| - - - - |
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 6TH JUNE 2025
5. INVESTMENTS
The CIO held no investments during this or the previous financial year.
6. RESTRICTED FUNDS
The CIO held no restricted funds during this or the previous financial year.
7. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| Fund | Fund | 06-Jun-25 | 06-Jun-25 | ||||
| £ | £ | £ | £ | ||||
| Cash at Bank & in Hand | - | - | - | - | |||
| - | - | - | - | ||||
| 8. DEBTORS AND PREPAYMENTS | |||||||
| Unrestricted | Restricted | Total | Total | ||||
| Fund | Fund | 06-Jun-25 | 06-Jun-25 | ||||
| £ | £ | £ | £ | ||||
| Sundry Debtors | - | - | - | - | |||
| - | - | - | - | ||||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||||
| Unrestricted | Restricted | Total | Total | ||||
| Fund | Fund | 06-Jun-25 | 06-Jun-25 | ||||
| £ | £ | £ | £ | ||||
| Sundry Creditors | - | - | - | - | |||
| - | - | - | - |
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during or the previous the financial year.
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ONBOARD FOUNDATION
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 6TH JUNE 2025
11. STAFF COSTS AND NUMBERS
The CIO employed no members of staff during or the previous the financial year.
12. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them (2023/24:None).
12. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
13. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
14. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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