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2025-03-31-accounts

Charity Registration Number 1191898

FAIRFIELD ENTERPRISE ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

FAIRFIELD ENTERPRISE ANNUAL REPORT AND UNAUDITED ACCOUNTS CONTENTS

Page
Charity information 3
Trustees' Annual Report 4
Statement of Financial Activities 6
Statement of financial position 7
Notes to the accounts 8

FAIRFIELD ENTERPRISE CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2025

Trustees David Nunes Charlotte Richards James Scott Charity Number 1191898 (England and Wales) Registered Office 22 Kennington Avenue Bishopston Bishopston Bristol BS7 9ET

FAIRFIELD ENTERPRISE TRUSTEE REPORT

The Trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the period ended 31st March 2025.

TRUSTEES

The following Trustee held office during the whole of the period:

David Nunes James Scott Charlotte Richards Lawrence Robathan resigned on 9 December 2024

OBJECTIVES AND ACTIVITIES

The period ending 31st March 2025 was the fourth full year of operation for Fairfield Enterprise and as a Board of Trustees we are proud of the progress and milestones reached over the past year.

In the Core Programme we took on c.50 candidates who are students between 18-24 years old from low-income backgrounds. We provided the students with detailed career coaching and guidance based on their specific career needs and ambitions. We helped increase their commercial awareness, technical understanding and broadened their networks by facilitating relevant sessions with our senior experts who we felt would best be suited to their requirements. Many candidates who were actively applying, secured suitable jobs, placements and internships matching their skillsets, ambitions and career objectives in the finance sector. These included firms such as Citibank, Time Investments, Polus, JP Morgan, BNP Paribas and UBS.

To ensure as many eligible students as possible across the UK are aware of the finance sector and its opportunities as a whole and our service, we have continued to visit university campuses nationwide and promoted Fairfield through peer-to-peer networks and student societies. We also continued our partnership with another charity, Girls Are Investors (GAIN) to ensure a strong female representation on our programme, which has grown from when we started over 4 years ago and currently stands at over 30%. We continued growing our Schools and Colleges Programme which saw us present in person to >5,000 young people at schools and colleges in low-income areas in 23 cities about careers in the finance industry.

To enhance the opportunities for 1 ~~6~~ 18-year-olds, we continue to run three virtual programmes a year for 300 students. We employ accredited training provider AmplifyME to run these programmes in the Christmas, Easter and Summer holidays. The course is for 3 days, on completion the students receive an industry qualification in a Level 4 Diploma in Investment. Funding for this program is from Marshall Wace. There is a clear link to the impact we are having with Fairfield where we can see the results of the CEOs visits to a college through sign ups from that college to the Diploma. These student applications are a clear indicator that these Schools & Colleges (S&C) presentations are positively engaging the students.

FINANCIAL REVIEW

Financial position

FY2425 was another year of financial growth for Fairfield Enterprise, with 57%% YOY income growth form FY23/24. We increased the number of 16-18 students we are meeting in person in Schools & Colleges to over 5,000, and we increased the number of 1 ~~8~~ 24year-old active Core Candidates, with whom we provide detailed ongoing mentoring, to 8. Furthermore, we funded 300 places for our exclusive AmplifyME Level 4 Diploma Programme.

We increased the number of industry volunteers to over 100 and the number of headline corporate sponsors to 8. These 8 Sponsors have provided £159,922 of unrestricted funds. All the sponsor firms are actively engaged with coaching are committed to employingour candidates. They have initially committed to multiyear sponsorship.

Resources expended were £160,259 (2024: £111,847) resulting in a small deficit of £(337) (2024: £(9,803)) for the year . This was more than covered by reserves brought forward of £16,058.

Our biggest single sponsor, Marshall Wace, provide their annual donation every April and our FY runs until March, so £-337is the low point in our cash balance.

Major running costs are £18,000 to AmplifyME, who are the leading finance industry training provider and run our Level 4 Diploma, £17,088 on running large scale in person candidate events, £5716. for candidates to travel into London for these events from across the UK and on trains and travel for the CEO and other volunteers to run the Schools & Colleges sessions across the country from Sunderland to Portsmouth. Total staff salary is 54% of income and represents the CEO whose day-to-day responsibilities cover all fundraising, program delivery, travelling, direct mentoring and operations.

FAIRFIELD ENTERPRISE TRUSTEE REPORT

Income

h has been due to the impact of work with students and the results achieved by the students. This has led to ongoing increased -depth approach to careers guidance.

Reserves Policy

reserves policy. As its founder, the CEO

Fairfield operates with an average of 6 months expenses in reserve in line with the reserves policy. As its founder, the CEO has stated he will reduce his salary before reducing any funding to the programmes funding should income fall. This provides further confidence in the financial sustainability of the charity and headroom for Fairfield to invest in growth and long-term careers programmes.

Plans for future periods

Following successful first Gala Fundraiser in 2025 the plan is to add another member of staff to coordinate organisation of volunteers, diary management, logistics for events and travel. This will allow capacity for the CEO to focus entirely on mentoring, coaching and fundraising. Through this, we expect to increase our reach to more remote areas of England & Wales, outside the major cities and to extend our offering to students in Scotland. We also aim to increase the number of internships and job opportunities offered to Fairfield candidates.

Going concern

Given our level of reserves, commitment from substantial number of volunteers, donors and alumni and the successes of the candidates the Trustees see the charity as a going concern.

Significant events

There were no significant financial events during FY24/25

STRUCTURE, GOVERNANCE AND MANAGEMENT

Operationally Fairfield was set up with an institutional framework from the outset which has been fit for purpose across all aspects during this accounting period. From a governance perspective within the financial year 2024-2025 Charlotte Richards joined as a Trustee in September 2024. The board of Trustees meet on an ongoing basis to ensure best practice is observed in all aspects of the charity.

STATEMENT OF

RESPONSIBILITIES

The trustees are responsible for the preparing of the Annual Report and the Financial Statements in accordance with the 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). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Trustees 29 January 2026

............................................................................

David Nunes Chair of Trustees

FAIRFIELD ENTERPRISE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

NOTE
Income from:
Donations and legacies
Donations
2
Total Income
Expenditure on:
Charitable Activities
Premises Expenditure
Wages and Salaries
Operational Expenses
Donations
Total Charitable Activities
Total Expenditure
Net Income/(expenditure)
Net Movement in Funds
Reconciliation of Funds
Total Funds Brought Forward
Total Funds Carried Forward		 Total
Total
Funds
Funds
Year ended
Year ended
Unrestricted
Restricted
31-Mar
31-Mar
Funds
Funds
2025
2024
£
£
£
£
159,922
-
159,922
102,044
159,922
-
159,922
102,044
4,464
-
4,464
5,607
102,554
-
102,554
79,617
53,241
-
-
53,241
-
-
26,624
-
160,259
-
160,259
111,847
160,259
-
160,259
111,847
(337)
-
(337)
(9,803)
(337)
-
(337)
(9,803)
16,058
-
16,058
25,862
15,721
-
15,721
16,058

The Charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the Charity are classed as continuing.

FAIRFIELD ENTERPRISE STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
5
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
6
Net current assets
Net assets
Funds
Profit and loss account
Total Funds		 2025
£
303
24,251
(8,833)
15,418
15,721
15,721
15,721		 2024
£
505
22,898
(7,345)
15,553
16,058
16,058
16,058

Approved by the Trustees on 29 January 2026 and signed on their behalf by:

............................................................................

David Nunes Chair of Trustees

FAIRFIELD ENTERPRISE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Statutory information

Fairfield Enterprise is a charitable incorporated organisation (Company Number CE024043), registered in England and Wales, with a charity number 1191898. The registered office is 22 Kennington Avenue Bishopston, Bishopston, Bristol BS7 9ET.

2 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014

and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)

and with the Charities Act 2011.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Presentation currency

The accounts are presented in £ sterling.

Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

Donations

Income from donations is included in income when it is receivable, except as follows:

(i) When donors specify that donations given to the charity must be used in future accounting periods:

(ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure includes attributable VAT which cannot be recovered

Tangible fixed assets and depreciation

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Computer equipment

3 Years Straight Line

FAIRFIELD ENTERPRISE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

Funds

Restricted funds

Can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund.

Unrestricted - Designated funds

Are funds without any restrictions, e.g. raised by general fundraising or coming from general donations, set aside by the trustees for general (e.g. to cover operational expenses) or specific future purposes (e.g. projects, specific risks). Unrestricted -

General funds

Are funds in excess of Restricted and Designated funds as described above. Such funds can be used at the discretion of the trustees in accordance with the charitable objects.

3 Turnover

Total Funds Total Funds Total Funds
Year ended Year ended
Unrestricted Restricted 31 March 31 March
2025 2024
Funds Funds
DONATIONS - GENERAL £ £ £ £
Donations from Companies 159,922 - 159,922 102,044
159,922 - 159,922 102,044
4 Tangible fixed assets
Computer
equipment
£
Cost or valuation At cost
At 1 April 2024 909
At 31 March 2025 909
Depreciation
At 1 April 2024 404
Charge for the year 202
At 31 March 2025 606
Net book value
At 31 March 2025 303
At 31 March 2024 505
5 Creditors: amounts falling due within one year 2025
2024
£
£
Taxes and social security 3,086 2,334
Other creditors 4,889
1,472
Loans - 2,382
Accruals 858
1,157
8,833 7,345

FAIRFIELD ENTERPRISE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

6 Average number of employees

During the year the average number of employees was 1 (2024: 1).

Wages
Pension Contributions		 2025
£
85,833
6,131
91,963		 2024
£
68,000
3,488
71,488

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combined accounts and IE report Final Audit Report 2026-01-30 Created.. 202￿1.30 By.. Sarah Youll linfo@￿vedwet￿•rE$Ss￿Xco.Uk> Status.. &gned Transaction 10.. C8jCHBC￿BAA4XSf.S11PJGBa3p.WRHth￿P43￿edMT "combined accounts and IE report" History Document created by Sarah Youll {info@belvederebusinessservices.co.uk) 2026-01-30- 13..51..06 GMT . Document emailed lo dave.nunes2@gmail.com for signature 2026-01-30- 13..51".11 GMT Email viewed by dave.nune$2@gmail.¢om 2020-01-30- 13.'58'.05 GK Signer dave.nunes2@gmail.com entered name at signing as David Nunes 2026-01-30- 14..03..02 GMT Document e-signed by David Nunes ldave.nunes2@gmail.coml s￿nature Date,. 202&01-30- 14..03..04 GMT- &Jurce' ￿e￿er Agreement completed. 2026-01-30- 14..03..04 GK Adobe Acrobat Sign