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2025-06-30-accounts

Boundless Trust

Financial Statements

And Independent Examiners report Year Ended 30[th] June 2025

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesldirectorsl members of Boundless Trust On accounts for the year ended 30th June 20245 Charity no.: 1192999 Company no.: Set out on pages 3-13 (remember lo include the page numbers of additional 5heel:- I report to the charity trustees on my examination of Ihe accounts of Ihe Company for the year ended Responsibilities and basis of report As the charity s trustees of the Company (who are also Ihe direclors of the company for Ihe purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'Ihe 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited for Ihis year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity s accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Acf,). In carrying out my examination, I have followed the Directions given by ihe Charity Commission (under section 14515}(b) ot the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention {other than that disclosed below ') which gives me cause to believe that= Companies Act 2006., or SORFXIFIt+sxw¥xx IER October 2018

I have no concems and have come xross no other matters in connedion wFth the examination to which attentson should be drawn in this report in order to enable a proper urKYerstandirg of the accouits to be reached. ' Pkase s in the brackets rfthey do not apply. Signed: Date: Name: Simon Charles Barker Relevant professional qualrficatlon(s) or body (11 any): FCCA Address: 18 Goonwartha Road PL13 2PJ Section B Disclosure Only complete rf the examiner needs to hwJhlight material matters of concem (see CC32, Independent examination of chanty accounts: directions and guidance for examiners). Givo here brief detalls of any items that the examiner wishes to disclose. October 2018 IER

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Boundless Trust Charity No 1192999
Annual accounts for the period
Period end
Period start date To
01/07/2024 date 30/06/2025
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Section A Statement of financial activities (including summary income and expenditure account)

Expenditure (Note 4)
Expenditure on:
Tax payable
Net gains/(losses) on
investments
Extraordinary items
Other gains/(losses)
Reconciliation of
funds:
Total
Recommended categories by activity
Donations and legacies
Other trading activities
Separate material item of income
Total funds carried forward
Total
Net income/(expenditure) after tax
before investment gains/(losses)
Net income/(expenditure)
Transfers between funds
Gains and losses on revaluation of fixed assets for the
charity’s own use
Total funds brought forward
Net movement in funds
Other recognised gains/(losses):
Net income/(expenditure) before tax for
the reporting period
Other
Other
Income and endowments from:
Investments
Charitable activities
Income (Note 3)
Charitable activities
Separate material expense item
Raising funds		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
£
£
£
F01
F02
F03
12,959
-
-
8,786
15,000
-
-
-
-
958
-
-
-
-
-
277
-
-
Total funds
Prior year
funds
£
£
F04
F05
12,959
37,991
23,786
62,709
-
-
958
418
-
-
277
-
22,980
15,000
-		 37,980
101,118
-
-
-
56,539
1,264
-
-
-
-		 -
-
57,803
93,568
-
-
56,539
1,264
-		 57,803
93,568
33,559
-
13,736
-		 19,823
-
7,550
-
-
-		 -
-
33,559
-
13,736
-		 19,823
-
7,550
-
-
-		 -
-
33,559
-
13,736
-		 19,823
-
7,550
-
-
-
-
-
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
33,559
-
13,736
-		 19,823
-
7,550
61,510
7,616
-		 69,126
61,576
27,951
21,352
-		 49,303
69,126

1192999

Charity No

Bouundless Trust

Section B Balance sheet

Guidance Note
Current assets
Debtors (Note 5)
B07
Investments (Note 17.4)
B08
Cash at bank and in hand (Note 7)
B09
Total current assets
B10
Creditors: amounts falling due within
one year (Note 6)
B11
Net current assets/(liabilities)
B12
Total assets less current liabilities
B13
Creditors: amounts falling due after
one year (Note 6)
B14
Total net assets or liabilities
B16
Funds of the Charity
Endowment funds (Note 8)
B17
Restricted income funds (Note 8)
B18
Unrestricted funds
B19
Revaluation reserve
B20
Fair value reserve
B21
Total funds
B22		 Unrestricted
funds
£
9,603
31,356
31,072
Restricted
income
funds
£
-
-
864		 Endowment
funds
Total this
year
£
£
- 9,603
- 31,356
- 31,936		 Total last
year
£
9,313
40,418
33,464
72,031 864 - 72,895 83,195
14,069
9,496 - - 9,496
62,535 864 - 63,399 69,126
62,535 864 -63,399 69,126
-
- - - -
62,535 864 - 63,399 69,126
-
62,535		 864 -
864
- 62,535
-		 -
100
69,026
-
62,535 864 - 63,399 69,126

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Signed by one trustee on behalf of all the trustees Date of
approval
dd/mm/yyyy
Print Name
Paul Vyvyan Roach
23/3/2026

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts 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 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 with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Going concern

If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:

An explanation as to those factors that Not Applicable support the conclusion that the charity is a going concern; Disclosure of any uncertainties that make the Not Applicable going concern assumption doubtful; Where accounts are not prepared on a going Not Applicable concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern.

1.3 Change of accounting policy

The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note { }.

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).

1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).

Section C Notes to the accounts (cont)

Recognition of income
2.2 INCOME
Donated goods
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
Donated services and
facilities
Donated services and facilities are included in the SOFA when received at the value of
the gift to the charity provided the value of the gift can be measured reliably.
This is only included in the SoFA once the charity has provided the related goods or
services or met the performance related conditions.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on receipt.
In the reporting period in which the stocks are distributed, they are recognised as an
expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
Offsetting
Grants and donations
Note 2 Accounting policies
There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.
Legacies
Tax reclaims on
donations and gifts
These are included in the Statement of Financial Activities (SoFA) when:
 the charity becomes entitled to the resources;
 it is more likely than not that the trustees will receive the resources;
 the monetary value can be measured with sufficient reliability.
Grants and donations are only included in the SoFA when the general income
recognition criteria are met (5.10 to 5.12 FRS102 SORP).
Government grants
The charity has received government grants in the reporting period
Contractual income and
performance related
grants
Gift Aid receivable is included in income when there is a valid declaration from the donor.
Any Gift Aid amount recovered on a donation is considered to be part of that gift and is
treated as an addition to the same fund as the initial donation unless the donor or the
terms of the appeal have specified otherwise.		 Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Grants with performance
conditions
2.4 ASSETS
Volunteer help
The value of any voluntary help received is not included in the accounts but is described
in the trustees’ annual report.
Support costs
Governance and support
costs
Creditors
Grants payable without
performance conditions
Liability recognition
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.
Investment gains and
losses
Settlement of insurance
claims
Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
Redundancy cost
Income from membership
subscriptions
Income from interest,
royalties and dividends
The charity has incurred expenditure on support costs.
Membership subscriptions received in the nature of a gift are recognised in Donations
and Legacies.
Donated services and facilities that are consumed immediately are recognised as
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
Deferred income
No material item of deferred income has been included in the accounts.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently
measured at the best estimate of the amount required to settle the obligation at the
reporting date
Basic financial
instruments
The charity accounts for basic financial instruments on initial recognition as per
paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.
Tangible fixed assets for
use by charity
These are capitalised if they can be used for more than one year, and cost at least
They are valued at cost
This is included in the accounts when receipt is probable and the amount receivable can
be measured reliably.
Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of the
obligation can be measured with reasonable certainty.
The charity has creditors which are measured at settlement amounts less any trade
discounts
The charity made no redundancy payments during the reporting period.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
2.3 EXPENDITURE AND LIABILITIES
This includes any realised or unrealised gains or losses on the sale of investments and
any gain or loss resulting from revaluing investments to market value at the end of the
year.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its
compliance with regulation and good practice.		 Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*
Yes
No
N/a*

They are valued at cost.

The depreciation rates and methods used are disclosed in note 14.

The charity has intangible fixed assets, that is, non-monetary assets that do not have Intangible fixed assets physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 15.

They are valued at cost.

The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and Heritage assets maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 16.

They are valued at cost.

Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year Investments end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments

Stocks and work in Stocks held for sale as part of non-charitable trade are measured at the lower or cost or progress net realisable value.

Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the Debtors charity. Subsequently, they are measured at the cash or other consideration expected to be received. The charity has investments which it holds for resale or pending their sale and cash and Current asset cash equivalents with a maturity date less than one year. These include cash on deposit investments and cash equivalents with a maturity of loss than one year held for investment purposes rather than to meet short-term cash commitments as they fall due.

They are valued at fair value except where they qualify as basic financial instruments.

Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*
Yes* No* N/a*

Section C Notes to the accounts (cont)

Note 3 Income

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Restricted
Unrestricted income Endowment
Analysis of income funds funds funds Total funds Prior year
£ £
Donations Donations and gifts 1,867 - - 1,867 4,908
and legacies: Gift Aid - - - - -
Legacies - - - - -
General grants provided by government/other
charities 4,455 - - 4,455 30,710
Membership subscriptions and sponsorships
which are in substance donations
- - - - -
Donated goods, facilities and services - - - - -
Other - - - - -
Total 6,322 - - 6,322 35,618
Charitable Youth Work
activities: 2,975 - - 2,975 1,185
Christmas Meals 149 - - 149 530
Looe Community Meals 4,077 15,000 - 19,077 28,166
Other community work 5,309 - - 5,309 9,982
Hardship Fund 3,190 - - 3,190 1,500
Family Work - - - - 23,719
Other - - - - -
Total 15,700 15,000 - 30,700 65,082
Other trading
activities: - - - - -
- - - - -
- - - - -
Other - - - - -
Total - - - - -
Income from Interest income 958 - - 958 418
investments: Dividend income - - - - -
Rental and leasing income - - - - -
Other - - - - -
Total 958 - - 958 418
Separate - - - - -
material item - - - - -
of income - - - - -
- - - - -
Total - - - - -
Other: Conversion of endowment funds into income
- - - - -
Gain on disposal of a tangible fixed asset
held for charity's own use - - - - -
Gain on disposal of a programme related
investment - - - - -
Royalties from the exploitation of intellectual
property rights - - - - -
Other - - - - -
Total - - - - -
TOTAL INCOME 22,980 15,000 - 37,980 101,118
----- End of picture text -----

Section C Notes to the accounts (cont)

Note 4 Expenditure

----- Start of picture text -----
This year Last year
Restricted Restricted
Unrestricted income Endowment Unrestricted income Endowment
Analysis funds funds funds Total funds funds funds funds Total funds
Expenditure on raising funds: £ £
Incurred seeking donations - - - - - - - -
Incurred seeking legacies - - - - - - - -
Incurred seeking grants - - - - - - - -
- - - - - - - -
Total expenditure on raising funds - - - - - - - -
Expenditure on charitable activities:
Youth Work
20,893 - 20,893 15,722 12,977 - 28,699
Christmas Meals
364 - 364 - -
Looe Community Meals 12,278 15,000 - 27,278 4,578 24,008 - 28,586
Other Community Work 7,904 - 7,904 1,140 9,882 - 11,022
Hardship Fund 1,264 - 1,264 1,542 - 1,542
Family Work 100 - 100 23,719 - 23,719
Total expenditure on charitable activities
41,439 16,364 - 57,803 22,982 70,586 - 93,568
Separate material item of expense
- - - - - - - -
Total - - - - - - - -
Other
- - - - - - - -
Total other expenditure - - - - - - - -
TOTAL EXPENDITURE 41,439 16,364 - 57,803 22,982 70,586 - 93,568
----- End of picture text -----

Other information:

Analysis of expenditure on charitable activities

Computer Hub
Total
Looe Community Meals
Family Work
Activity or programme
Youth Club
Holiday Activity Scheme
Winter Warmth
Other
Hardship Fund
Thursday Club
Community Fridge		 Activities
undertaken
directly
Grant
funding of
activities
Support
Costs
Total this
year
Activities
undertaken
directly
Grant
funding of
activities
Support
Costs
Total last
year
£
£
£
£
£
£
£
£
17,144
-
-
17,144 26,452
- - 26,452
3,749
-
-
3,749 2,248
- - 2,248
-
-
-
- 23,719
- - 23,719
100
-
-
100 9,882
- - 9,882
30,042
-
-
30,042 28,586
- - 28,586
3,362
-
-
3,362 1,015
- - 1,015
1
-
-
1 52
- - 52
1,264
-
-
1,264 1,542
- - 1,542
1,777
-
-
1,777
- - -
364
-
-
364 73
- - 73
57,803
-
-
57,803 93,569
- - 93,569
This year
Last year

Section C Notes to the accounts (cont)

Note 5 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

5 Analysis of debtors

Prepayments and accrued income
Other debtors
Total
Trade debtors		 This year
Last year
£
£
- -
9,603 9,313
- -
9,603 9,313

Section C Notes to the accounts (cont)

Note 6 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

6.1 Analysis of creditors

----- Start of picture text -----
Amounts falling due Amounts falling due after
within one year more than one year
This year Last year This year Last year
£ £ £ £
- - - -
- - - -
9,496 14,068 - -
- - - -
- - - -
- - - -
- - - -
Total 9,496 14,068 - -
----- End of picture text -----

Accruals for grants payable Bank loans and overdrafts Trade creditors

Payments received on account for contracts or performance-related grants Accruals and deferred income Taxation and social security Other creditors

Section C Notes to the accounts (cont)

Note 7 Cash at bank and in hand

Other
Short term deposits
Cash at bank and on hand
Total
Short term cash investments (less than 3 months maturity date)		 This year
Last year
£
£
- -
31,356 40,418
31,072 33,464
- -
62,428 73,882

Section C Notes to the accounts (cont)

Note 8 Charity funds

8 Details of material funds held and movements during the CURRENT reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds' (which should include revaluation reserve and fair value reserve, if applicable). The 'Total funds' figure below should reconcile to 'Total funds' in the balance sheet.

* Key: PE - permanent endowment funds; EE - expendable endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

----- Start of picture text -----
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Looe Development Trust R Hardship 1,958 - 1,264 - - 694
CC L:evelling Up R Family work 100 - 100 - - -
CC Volunteer Fund UR Youth Work 12,101 - 12,101 - - -
Hubbub Foundation UR Community Fridge 5,984 - 3,362 - - 2,622
CC Volunteer Fund R Community Meals - 15,000 - 15,000 - - -
Cornwall Community UR Community Meals - 1,410 - 1,410 - - -
Cornwall Community UR Hardship - 3,090 - - - 3,090
Plymouth University UR Computer Hub - 4,039 - 1,777 - - 2,262
Other funds (balancing
figure) N/a N/a 48,983 14,441 - 22,790 - - 40,634
Total Funds as per balance sheet 69,126 37,980 - 57,804 - - 49,302
Yes No
Fund balances carried forward include assets and liabilities denominated in a foreign currency 
If yes, please state the basis on which the assets and/or liabilities have been translated into
sterling (or the currency in which the accounts are drawn up).
----- End of picture text -----*

Section C Notes to the accounts (cont)

Note 9 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

9.1 Trustee remuneration and benefits

This year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

9.2 Trustees' expenses

If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".

No trustee expenses have been incurred (True or False)

TRUE

9.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

This year

This year This year This year This year
There have been no related party transactions in the reporting period (True or False) TRUE
Amounts
Name of the trustee
or related party		 Relationship
to charity		 Description of the
transaction(s)		 Amount Balance at
period end		 Provision for bad debts
at period end		 written off
during
reporting
period
£ £ £ £
-
-
-
In relation to the transactions above, please provide the
terms and conditions, including any security and the
nature of any payment (consideration) to be provided in
settlement.

CC17a (Excel)

07/10/2025

13