2024-04-05-accounts

	Page
Trustees' report	1 -2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Statement of cash flows	6
Notes to the financial statements	7-12

4/2/2025

		Unrestricted	Unrestricted
		funds	funds
		2024	2023
	Notes	£	£
Income from:
Donations and legacies	2		4,100,000
Investments	3		15,032
Total income			4,115,032
Expenditure on:
Charitable activities	4	154,931	598,861
Total expenditure		154,931	598,861
Net gains/(losses) on investments	8		(81,056)
Net income/(expenditure)		(154,931)	3,435,115
Other recognised gains and losses:
Other losses	10	(5,662)	(149,030)
Net movement in funds		(160,593)	3,286,085
Reconciliation of funds:
Fund balances at 6 April 2023		4,220,902	934,817
Fund balances at 5 April 2024		4,060,309	4,220,902

		2024		2023
	Notes	£	£	£	£
Current assets
Debtors	11	4,000,000		4,000,000
Cash at bank and in hand		82,411		263,522
		4,082,411		4,263,522
Creditors: amounts falling due within	12
one year		(22,102)		(42,620)
Net current assets			4,060,309		4,220,902
The funds of the Foundation
Unrestricted funds	13		4,060,309		4,220,902
			4,060,309		4,220,902

			2024			2023
	Notes	£		£	£		£
Cash flows from operating activities
Cash absorbed by operations	16			(181,111)			(608,271)
Investing activities
Proceeds from disposal of investments					856,761
Investment income received					15,032
Net cash generated from investing activities							871,793
Net cash generated from financing activities
Net (decrease)/increase in cash and cash equivalents				(181,111)			263,522
Cash and cash equivalents at beginning of year				263,522
Cash and cash equivalents at end of year				82,411			263,522

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Donations and gifts		100,000
Legacies		4,000,000
		4,100,000

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Income from listed investments		15,032

		2024	2023
		£	£
	Direct costs
	Audit fees		3,600
	Legal fees	16,500	15,000
	Tax preparation fees	1,122	1,020
	Independent examination fees	3,350
		20,972	19,620
	Grant funding of activities (see note 5)
	Analysis by fund
	Unrestricted funds	154,931	598,861
5	Grants payable
		2024	2023
		£	£
	Grants to institutions:
	Other	133,959	579,241

	2024	2023
	Number	Number
Total

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
Gains/(losses) arising on:	£	£
Revaluation of investments		(81,056)

Other gains or losses
	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Foreign exchange (gains)/losses	5,662	149,030
Debtors
	2024	2023
Amounts falling due within one year:	£	£
Other debtors	4,000,000	4,000,000

12	Creditors: amounts falling due within one year
	Grants outstanding Accruals and deferred income
		22,102	42,620

	At 6 April	Incoming	Resources	Gains and	At 5 April
	2023	resources	expended	losses	2024
	£	£	£	£	£
General funds	4,220,902		(154,931)	(5,662)	4,060,309
Previous year:	At 6 April	Incoming	Resources	Gains and	At 5 April
	2022	resources	expended	losses	2023
	£	£	£	£	£
General funds	934,817	4,115,032	(598,861)	(230,086)	4,220,902

	Unrestricted
	funds
	2024
	£
At 5 April 2024:
Current assets/(liabilities)	4,060,309
	4,060,309
	Unrestricted
	funds
	2023
	£
At 5 April 2023:
Current assets/(liabilities)	4,220,902
	4,220,902

16	Cash absorbed by operations	2024	2023
		£	£
	(Deficit)/surplus for the year	(154,931)	3,435,115
	Adjustments for:
	Investment income recognised in statement of financial activities		(15,032)
	Foreign exchange differences	(5,662)	(149,030)
	Fair value gains and losses on investments		81,056
	Movements in working capital:
	(Increase) in debtors		(4,000,000)
	(Decrease)/increase in creditors	(20,518)	39,620
	Cash absorbed by operations	(181,111)	(608,271)