The ¢Ten•.rHtionAI Vound#tlort TruMe¢$' Report And ¥ln#nel*l Stat¢ments for th¢ year ettded 31 December 2023 Regist¢red Charity Number: 1192397
The G¢neration81 FouDd#tion Financlal Statements for the y¢8r ended 31 December 2023 ontents Report of the Trustees Staternent of Finartcial Activlttes (including In¢om¢ and Expenditure Account) Balance Sheet Notes to the FIn£till Statements Independttht ExRrniners Report to the Trustees 12
Th¢ Geiieratlottl Found#tlon Report of theTnEStees for the YeAr Ended 31 D¢¢¢mbeT 2023 The Twsiees present their repoft oTrd th¢ financial $laimcnts for thc yr ¢ndcd 31 D¢¢embeT 2WI3. Th¢ FInClaI Statemenls comply with the ChaTi11 knt 2011. the goveming documeat 2nd Aecounling and Reporttng by Chariti¢s' Statement ofRewmmended Pr8cti¢e Epplic4bl¢ to ¢harilies preparikg their a£couRts in cordanc¢ willi tlie FitfdnGial Reporting Siandard applible in Ihe UK and R¢public of Ireland effecllvt I January 2019. 01 Pll d A¢tlvltle The purp05¢ of the Charity is gdvante such charilablc pu¥w%¢8 la¢coirfin8 to the law of England and Wrt1) fot Ihc public b¢nefil ag the charity Tntstees shall s¢¢ fit from lime 10 lime. The Charity can therefore apply tts funds for any purpose which is chariiable under Ihe law of Eng]aTtd and Wales. lle Benoti Nothing in the nStItution shall auihorise gn appltc8tion for poyment5 from the CIO for wJspo3¢5 whi¢h arenot ¢harilable in Hccordante with section 7 of th¢ ChAritiea and TIUBl Inv&8tm8nl (Sotstland) Aet 2005 Bnd s¢otion 2 of the Charities kni INorthern Irelalld} 2008. TheTtU$ eonfirn thai Ih¢y have complied wilh their duli¢s Seetion 17 of the 2011 ChArittes ryth re8ard to public bencfit. Durin8 th¢ y¢8rthr Charity mad¢ grants totalin8 £411,275 tts arange ofother chBritias Tn littt with the Charity'g 8t8Dt-makinB poliey thé Trustees have maiDained 8 atrnte8i< foty$on thr Ir&inillg ond tucation of th'ldren aud ywrtg petyleand th¢ Cilty has Provided 8rnnts lo schools andto mulii-8¢ademy Itusls, Thr Charity also tAad¢ grants for chaTiiabl¢ putpose5 connected 10 yon8 pts)ple and edur4lion, including to help ehild¥en dev¢lop T¢adin8 skills aod ¢0 further the personal development of young wple.
The Gner1d0tt Found8tlon Rtportof the TTUStees lot the Year Ended 31 Dtber 2023- ¢ontlnued FI¢141 Revlew The Charity's work 15 enlire]y tell¢ ort a dtrnalion mode by two m¢Thb¢TS of the TNstee Board. Ai 31 Dcccmbcr 202J the Chatity'5 l¢x&I fvnd5 111nDund to £604323. llt ent Hnd Re$etve5 Polk A8setS IlDt imm¢di8t¢ly txeded for8Tatti TkakirtE or operational costs have bc¢Th plac¢ on dewsil with C Hoare & Co while Ibe Trustce$ develop the Ch&rtty'$ medsum lerm strotegy. Th¢ Charity has minim81 overf%e&ds Ind sigllifiGant unrestriclcd funds and bccause all anticipated tost$ and CXFtndituros are provided foT, the TDJS¢$ have not fomièlly adopied aprescriplive rt5erves policy. Fuiure Devel m¢ryts Logking ahead. thc Tslee5 will continue todevelop prc¢edures forthe consid•rnion tnaking of gtxnts for ¢haritable putPD5eJ for thcpublic benefit. It is anticipated that grants will continue 10 be rn¢ in the aTe8s of education and the advaneement of health, and that IheTrust¢e5 will ¢onsidcr additional niS to proje¢l$ knefiting ¢hildrell and young peopl¢ for thc publsc benefit. It Is anticipated thai the number alld on¢tary value of Erants to bc made by tlLC Charity tn the ncxt opcral1ort tmod may increa.
Tht Gener4tlvn81 Fouttd&tion Report of the Trn$tee5 for the Ytlr ed 31 Detemb¢r 2023- eottthw¢d eferthtt A d Admlnf tlvt Inf Choliiy Name.. The Generaiional Foundatio Charity Resri6tration Number.. 1192397 Principa] and Opuational Adth55'. tjo Withers l.l.P 20 Old Bailey London EC4M 7AN TNslees: M¢g Headley Andrew H¢8dl¢y 7.oe Cronin Bankers and FuTLd Holders: C Hoore & Cn 37 Hcct St Templ¢ London EC4Y IBT Aceountants.. Haines Wts (Ea* Midlands) Lid 10 Stlldium BUSirt8 Court Millenttium Way Vrid¢ Park Derhy DE24 8HP Solicitors.. Womble Bond Dickittson UK Lr.p The Spsrk Dtaymans Way NewcB5tle upon Tyn NE4 5DE
The GeDer8tlolll Found•tion Rport of the Trustoes for th¢ Ytar Ended 31 Detrnbtr 2023- contknued re Gover Gov¢rtti oEganisalign is a charilablc incorporated orgaftisativn ICIOI g0Vem by ils Constitution effective from th¢ Charity's foFmalion by th¢ Charity Cotnmissioii for EN8laiid and Walc5 on 18 November 2020. nintm Th¢ Charity has h8d IhrtTrusw who tHch agrccd to scrve from ftsm)ation of the Ch8riry. E8¢h Trustec b¢ provtded wTrth 8 full briefithg on the mlc of charity ttuslee, a copy of th¢ Con5tittition alld polici¢s of the Charity and duly detlared their willingness to ici. Consi5tEnt with tlic Charily's philanthropic mission, the cuttcnt Trustees include lh¢ priNGipal fundcrs. Thc TTusl¢cs bring wilh them a rang¢ of cxpcriences and expettise thai th relevant to implementin8 the Charity'5 purpose. 5alional stNc Thc Tru& are responsible fnr the 8trniegic direction of the Charity #nd neet 89 r4uired to nSider grt8 as wcll as to address complianc¢ obltgations of the Charity- Th¢ Charity h&% employees. sk Thc Trustees have lldU¢t¢d a review of the mÈjorrisk5 lowhlch the Charity 1$ exposcd. Risks minim)d by the d¢le£ation of m8nhgcrnenl and 8dmitti$lr8Ii task5 to apptopiiale profrssional%_ The Trusleos are colnmitted to developing an opcrational framewo that will allow the Charity to offttt cffEcieniiy for Ihe public b¢nefit and review &nd miiigaie risk. In the coming opwaiional period. they may implement additional prJlicieA firpr.rduTe5 to assigt the Cb¥iYty in this regard. to rhe Flnx tstemeThts The Tru$te¢5 are responsible forprepaT2n8 the R¢port of the TrustEC5 and th¢ Financial Statements in accordance wilh yplicable law 8nd UThired Kingdom Gen¢rally Accepi•l Accounlirtg Prauice. The law applieahle to charities il) En819nd 9nd Waleg. the ChiritiES Act 2011, Charily {AcoDunts gnd Rwrts) Regulations 2008 2nd the provisions of the TrJ5E Deed require lh¢ Tru5CXS to prepar¢ Finjwial Statcrn¢nls for each floancial year which Bive a tnL¢ ond fair view ot lh¢ siak ot" offait8 of the Charify and of th¢ incoming resource¥ alld 8pplication of regoure&%. including the intlsmt Iud expendÉlure of the alIty ftsr tht period. In pparing those Finoneièl SttlS, the Trustee5 are requtr¢d to.. Sele¢t suitsble aceouJ)ting wlicics and opply them eons%stentJy: Observe the meththls andprinciples in the Charitie5 SORP.. Make judgements and ¢stimates thai are reasonable and prudent.. Stale whclhei applioable UK accwnting 5tand8Tds have beert follow¢d, subjctl to any material departur¢¥ dis¢losed and explained in the Financial Stat¢m¢nis,' and Prcpare th¢ Finan¢ial Stat¢met in accoTd&nce with applicablc law and UK Generally Ac¢epted Accounting Practice, The TTUStt¢S Tesponsibl¢ for maiataining proptr aceounting ordS which disclose with rewn4bl¢ accuracy at any timcthe financiMI p051tion of the Chtirity and to ertable them to cn5ure th21 the Fingn¢ial Strdlemenls comply with tho Charities Act 2011. Thcy ar¢ also rcspm$iblc kr fegualL Ili¢ us&cts uf Ibr Ch4Nry and hEnrc for iakinR rewnable steps for the prevcniloii and d¢te£lion of fraud and oiher irregularili¢s.
The G¢nerAtlong41 Fottndation Repfyri of Trusteey for the Yur Ended 31 Detember 2023- ¢onthillEd Approved by the Trustees on...... signed on Ihcir behaifby.. ey- Trtl
The GeA¢r*tional FolldItio# Si•t¢ment ofFSnabcial A¢tivititS {Jntludlng Inc•mt and Eypendhure Account) for the Ye•r Ended 31 December 2023 UltIttItIE Funds 2023 UnrcstrA¢ted Fund¥ 2022 Note INCOME Donation linc. Gift Aid} Bank Znlcre5t i.0.[) TOTAI. INCOME Goverttxnte eoits Baok Charges Legal F¢¢ Audit Fee Miscellaneous 271 1.620 4,2Cw) 1,8 1.8LM) 360 Expendlture on ChirltsblÈ A¢tlVLtlei Grants attd Donations 75 1 113402 TOTAL EXPENDrruRE 415319 1 119493 NET INCOMWEXPENDITURE AND NET MOVEMENT IF4 (4Q6.Q631 {119.4931 BICONCILIATIOPI OF FUNDS: Fund Balances bioughi fvrward 80 1129 8-19 FUND BAknINCES CARRIED FORWAiiD AT31 DECEMBER 2023 604 323 l a1ts/86 The st2ment of Flnaneial A¢iivitie8 includes 411 sairts ]tsssq5 rrgognised in th¢y¢ar. All in¢omG at expen¢Ji¢ure detiv&% from ¢onlinuing a¢tivitLeS. The ttrth. on pkBes 8 10 IJ fotm P9rt of those accouThts.
The GenerRtlonAI FouiidAtlon BAI•D¢t bh¢¢t 85 A¢ 31 December 2023 2022 Note CURREThT ASSET5 Cash 21 Bank 1014586 Total Curtetst Assets 006.L23 L.014.586 CREDITORS DUE wfiYiN 0Tr4E YEAIL. h¢rCredilors NET CURRENf ASSETS 1010386 NgT ASSETS THI IIUNDS OF THE CEIARITY: INCOMÉ F(INDS Ctneral Futsd 1010386 TOTAL CHAIUTY FUf4DS 1010386 AppTovcd by th¢ Trus on , The ttotes on page8 8 10 1 I form part of these COUnt5.
The Generational Found)ttDR r40t to the Flnlndal Siatenienu for tbt Yr Etted 3A December 2023 A¢¢ountlng Poll¢les The prin¢ipal 8ccounting policies are sumtxwised below. The aceountifjg polici have been applied ¢onsisi¢Aily throughout th¢ pcriod. Ba#h of Ae¢ountlll8 Th¢ FttwiLial have b¢¢n pPared in aceordan¢e with the Ac¢ouniing and Reporting by Ch4riiies,' Stsfem¢nt of Recomm¢nded Prsciice appli¢able w Chariites preparing Iheir ac¢oLTnts ID awrdance with the Financial Reporting Siaodard applicable in the UK Republtc of knland (FRS102) efflIve l January 2019 and Lht Financial Reporting Standllrd applicable in th¢ UK and licpublie of I[rId (K51021 attd th¢Chariti&% Act 2011. Asseis and liabilities are initially recognised at historical ca%t or Iran$8rtion Vali uttless (rtherwige stated itt the Tel¢vanl accountlh8 policy not¢. Thr Charity consÈituies a publie benefit ¢nttty as d¢lin¢d by FRSEQ2. The Thistees, ¢otisÉdtr there are no m1t¢ri unc¢rt8inti¢s 8¢ thB Charity'5 ability ¢0 wntinue 8 a goiug boiicem. The a¢counts are prw¢nod in sleriiDB (£1. Fuud AccounÈt Income Funth can be used in accordan¢¢ wilh the Ch8riiable Objcclive5 at the discreiio]s of the Trusrccs. Desigoated fvnds ar¢ unrcstricied bJnd$¢m)arked by the Tw$1¢¢5 for particUlarpu0s¢$. Pernjaneni Ettdowm¢nl Funds capital is Tctained on a permanent b&4i4. lTrwme ¢th used in 8ccordance with the Charirable Objectives. All income i5 includ¢d in thc Siaterncnl of Fin2n¢tal Acliviiies when th¢ Charity is ¢niiil¢d to the incoinc und ih¥ amount can k quantifiert wilh llable accuracy. The tollowing specifi¢ policies are opplied to particular ¢ategoracs of income.. Ittves¢m¢nl iii£otn¢ iii¥luding illi¢r¢5t on OJnd$ h¢ld on dcposii is re¢oyni5¢d 3Lwrdin¥ to LLS due dai¢ of TeceipL onctary don&tions are Te¢ogntsed when the charity has re£eived th¢ levant mit18n¢t. DoMal¢d s¢rvir¢s aiml fa¢ililiGS 4T¢ t¥Logni¥ed a5 income wh¢n Ihc Charity ha$ ¢onlrol ovcr the it¢m, any eondilions associated with the donated item have been tnel. th¢ receipt of economic bencfii fro]n the u$e by thc Charily of the item is probable and that economi¢ bpnefit can b¢ rne&4ured reliably. On rwxipt, donat¢d 5WjC¢5 a1 fa¢iliiitè tfLV8lli5 on (he ba515 of rhe valu¢ ofihr ¥sft io Ihc Charlry whl¢h is Ihe amouni the Lharity would hav¢ been willing lo payto obtain services OT facilities of equivalent eennotDic benefit on iiie tnarket.. a coJThspondin 4mounl is then rccognised in expenditure in th¢ Per0d of trceipt, where this c2nb¢ quarttifi No value i% Dll rh¢ 5ervica8 providul withoui ch2r¥e E>f thc"Iru51ees.
The GeneratlDn&l FO10 Notes to the Flngn¢lal Sthtément$ for the y¢ Elldcil JI December 2Q23- continued Exptndititre Expenditur¢ is recognised on an acvuals ba5i$ as a liabElity is ineurr¢d. Expenditrjw includes VAT which c?nnoi be Tccovcml and is Kported part ofili¢rxp¢ndiiurc to whicl it rcl&ia%'. Cost8 of rnr5inE futtds eompriRe Ihe cfjstK aSS0¢iAted with 8ener4ting the investmeni in¢om¢. Ev¢[1( Gha[11¢ activiii¢scompri$th0seco incurred by th¢ Charity the delivtty of L15 activitie$ and servic¢5 to Ils ben¢ficiaries. It ineludes both costs that bc allocated dircctly 10 such activitie5 and Il)ose cost5 of an indire¢l nalurz nuwary lo supp them. The Charity LS exanpt from tax on its chBritAble activities. Debio D¢biors ar¢ iKxusni%d w the settlemcnr amoukt owtsl lo the LhaTity orprep4id. Crdlto Creditor5 and ptOVi5ions ore ¢0£11%¢ where the Charity has a prtseril obligation resulii08 from past event thai will probably regult io thetransferof fund5 to a third pgrty, and the asnrJvntdu¢ to s¢tile ihe obligation can be meAsured or t5tiTn4l reliably. Creditors and provision5 arc nomially recognlsed their srtllerDent amount. FlnAnd41 Jns¢ruments The Charity has financial 8ssetg and finoneial Itgbilitie$ of a kind that qudify flnanrial itistwments. B#sic filncl&l inslNmeBts are inititlly re¢OlS¢d at traLsadion value and subsequcntly measured ai theirsettlement valu¢. Donated Servl¢es, Good and F&¢liitle5 EJ)nated scrvi¢¢s orfacililies are Teco8ttisrd as income whcn the charity has control over the itcm, ADY Thlti0tl$ a)bvEiaEC(J wlih the donal iiem have bccn Enet. the receipi of economic benefit from Ihc use by th¢ Charity of lh¢ item is piDbable and that econtThic hentfit ean be measured rtliably. On rcceipl doDcd service5 and facilities ore recogntsed OA The 6¥15 ofthc value of thc gift io the ¢harity whish ij tlie amount th¢ trliatrity wuuld been wSlllng 10 pay to obtain service5 or fa¢ilitie5 of cqu2valent economic bellefi¢ on theop¢n market: a corre4Jonding Amoiint is IILen reCOls¢d in expenditte in th¥ PCri( of ncipt. J¥dBement •ttd Key Sour¢ts of Estlmalfon UnEertalnty The pr¢paTation of accounts using generally accepted a¢c¢unting pn¢ip1¢5 rquires m8nagcmcnl 10 iiiak¢ ¢$Iirna1 and sUmP110ns th21 affrct the Teported gmoynts of a1$ and liabilitia% at Ih¢datc of Ih¢ artollnls aDd the reported amoullts of reveniies and ¢xpenseg dursTr8 th¢ reptrrting pgriod. The key ¢stimaws ond a5wrrLwions used an th¢Finall¢ial Slat¢m¢nis are d¢tall in the acwunting polics¢s.
The GetrAtIO1 Foundatlo Noitt to th¢ Flplltll StstEments for the Year Ewled 31 Dtcembtr 2023- ¢ontinued 2. Donatlow (Inr. Glft Ald) 2023 2012 DOnlon5 i 000 000 Net income is stated aftercharging.. Auditor's R¢mua¢ration 3. Grants and Don#do 2011 2022 Spinal Research Th¢ Suiion TM The Outward Bound Trust The Centre foy S<tiAI Justice Th¢ Arbib fAuFNtionul T8¢ Beyond The Stre¢t5 BookrnaTk Readitt8 Charity Si Aid¢n's C of F 8¢hool Harr&5 We5tmitLslcr 6th Fo Thc Harris Fcderation Spottsors for Edueattonal OppDrtuniry B¢rkhamst¢d Schools GTOUP 5,000.00 60,000.00 40,000.00 13S,000.00 152,402.CKJ 25.000.00 I.000.00 56,000.00 IIK),ooo.00 51JO.000.00 25,000.00 25.0ry).tK) 75,QryJ.I)O 180,000.00 2,27S.00 44 0.00 411275.00 1 113 402.00 4. Trust¢es' Remuneratlo TtUSttts' iemwi¢rn¢ion vi otherb¢nefiu have be¢* pid for th¢ yw cnded 31 December 202312022.. £NJLI. Trt, Zxp¢n$es No T¢5, ¢xpetL5es h¢ been paid for th¢ year ¢nded 31 Dember 2023 {2022= £NILI. 5. Rélated PaTdeg There are no related party tTansaction$ in the PEriod. 10
The Ceiier4tlonal Founditlon Notes to the Fknand81 Statwnettts for the Year Endrd 31 De¢¢mbtr 20Z3- coniinlltd 6. knAIy51s of Net Ass¢ts HÈtween Funds Curreot A8set# Current Uabl]Itle$ 2023 Tot Gencrnl Fund 1.800 The truskes have <k5ignated £175,000 for SPEeific d¢)n8Lioll5 Wlthin th¢ Gen Fund. CUrr¢t A55etS CurT¢nt 2022 Totsl Uabllltl Genersl Fund 1014 586 010 386 014 586 .010 386 7. MDvemeDt In Futhd$ AIAt 01.01.2023 Agat 31.11.2023 Expettdfityre G¢n¢ral Fund (Unrestric) 1010386 413319 Total Fund 1010 386 415 319 'Ihere are nortsDcied fund baian¢e$ hel As8t I.01.ZiIZ2 Asal 31.12.2021 Income Bxp¢ndl¢ur¢ OEii¢t41 Fund (Untr51riGi¢dl 1 129879 1119493 386 Total Ftjnd 1129 879 1119493 1010 386
The G¢n¢rational Foundatlo Charlty Number: 1192397 IndependÈAt F.Tgminer$ Report to the Trustee# of The Ceneratlon&l Foundation I r¢port on the charity tNstees on my examination ofÉh¢ accounts of the company for the year ended 31 December 2023. Responslbllities gnd Bas1$ of Report As the charity's trustees of the Company (and also its directors for the PUTP05e of company law) you are responsible tor th¢ preparation of the accounts in aordanCe with the requirements of the Companies Act 2006 ('thc 2006 Art.). Havin8 Satisfied myself that the actounts of the Company are not required to be audit¢d ut)d¢r Part 16 of the 2006 Act and are eligible for independent examination, I report in respectof my examination of your charity's accounts as carried out llnd¢r section 145 of the Chariiie5 Act 2011 ('the 2011 Act,), In CayIng outmy examination I have followed the direciions given by the Charity Commis5ioTr under s¢ction 145(5Xbl of the 2011 Act. Since the company'sgTtiss income exceeded£250.OOOyourex3minermustbe amemberof a body listed in S¢¢tiott 145 of the 2011 Act. I confirm that l am qualified to undertake th¢ examination because l am a member of the Institute of Chartered Acwuntattts tn Englond aknd Walc3, whi¢h is one of the listd bodies. Independttht ExamTrn¢r'$ Statemtnt I have completed my examination. I confirni that no matters have cotne to my attention irt e¢)nn¢¢tion with the examination giving me cause to b¢lieve:_ l) ArAouJJting r¢wids Wtre k¥pl in respect of ih¢ Company as requir¢d by section 380 of the 2UV6 Act: or 2) The aceounts do not accord with th05C WOTds' or 3) The ac¢ount5 do noi comply with the accounting requirements of sectiOTt 396 of the 21)06 Act other than any requirements that the accounts give a'tTU¢ and fair view. which is not a matter con5id¢red as part of an independent examination. or 4) The accounts have not been prepared in accordance with the methods and principles of the Statemtnt of recommended Practite for a¢counting and reportlDg by chariti¢$ (applicable to charities preparing their accounts in acwrdance with the Financial Reporting Standard applicable in the UK and Republic of IrelgTJd {FRS102)). I have no Concerns fjod hav¢ corn¢ a¢rosS no other matt¢is In COJIII¢C(iun with the cxatnination w whlch attention should be drawn in this report itt order to enable a proper updersianding of thtr #c¢ounts to be reached. Dated............... s Liptrott FCA Chart¢Tod Accountant Haines Watts Cliffe Hill House 22-26 Nottir$8haTrk Road Stapleford Nottingham NG9 SAA 12