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2023-08-31-accounts

Registered Charity Number 1193029

Report of the Trustees

and the Unaudited Financial Statements

for the Year Ended 31[st] August 2023

for Cloudy Foundation

Year 3

Registered Charity Number – 1193029

Principal office and Registered address

Unit 8, Homeground, Buckingham Industrial Estate, MK18 1 UH

www.cloudyfoundation.org.uk

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Cloudy Foundation

Contents of the Financial Statements

for the Year Ended 31[st] August 2023

Page
Report of the Trustees 6-13
Independent Examiners Report 14
Statement of Financial Activities 15
Balance Sheet 16
Notes to the Financial Statements 17-19

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WS
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Some pictures from our SkillBase Programme

Upskilling Young people for a Digital World is not just important – it’s exciting and it’s fun too!

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With delivery and referral partners like Milton Keynes University, Bucks New University, Oxford Brookes, over 20 schools (and growing) Microsoft, the Peter Jones Foundation and TD Synnex, the SkillBase Programme is hugely creative and genuinely innovative.

Funders like the Clare Foundation, Shanly Foundation, Aylesbury Community Board and recently Bucks Community Foundation have enormously developed the potential we have to change lives and futures in this fast-moving digital world of ours.

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Charity Trustees during 2023 were as follows:

(All served from 31.8.22 to 31.8.23)

David Hall (chair of trustees) Dean Jones Kirsty Forshaw

Stephen McVay (appointed November 2022)

The Charity is a Charitable Incorporated Organisation (CIO)

Young Person statements

“I really enjoyed the Tech Lab programme and working with real business needs and some of the solutions to their data collection and marketing challenges. It taught me a lot and helped me understand more about what I could be doing in that sort of business” (TL Student)

“I learned a lot about some of the issues around working together on real stuff and how to get my opinions across and how to listen to other people’s views at the same time. It felt like a grown-up kind of working and the app design information and its implementation was really cool!” (EA student)

93% of EA students surveyed said they would recommend the programme to other young people their age.

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TRUSTEES REPORT

The trustees present their third annual report together with the financial statements of the charity for the year ended 31[st] August 2023, including our accountants (unaudited) report for that year. In preparing this report, the Board of Trustees have noted the guidance set down by the Charities Commission regarding public benefit.

Our Mission

Is to change and transform the lives and futures of young people by supporting their access to digital skills opportunities and engaging them with business and the wider community. We want to improve the educational and professional attainment of young people by engaging them on exciting digital programmes that serve a verifiable business purpose and help to develop their employment skills and opportunities.

We work to strengthen the relationship between young people, employers, and community by bringing them together on digital tech projects that serve a real-world purpose and deliver social impact in their development. We want to help to improve the capacity of both schools/colleges and business to meaningfully engage young people towards the vital IT & tech skills that they and our communities & businesses need.

To start in the Buckinghamshire area and then to respond to need and opportunity by extending what we do in other areas across England and Wales.

Our Vision

Is of a country, and indeed a world, in which young people all have the opportunities they need to move forward in life and including digital and tech skills. We believe that every young person should have employer interactions that empower them to develop the digital and interpersonal skills needed for the modern workplace; that in turn provides the opportunity for them to make a valuable contribution to their communities and wider society. We aim to turn that vision into reality wherever and for whoever we can.

Our values

The formal objective of the Charity as stated within our constitution and agreed with the Charities Commission is:

To promote the advancement of education through the provision of practical experience primarily, but not exclusively young people under 25, to develop their digital skills, to support them in their education and increase employment opportunities primarily but not exclusively, in the United Kingdom.

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Our second annual report – for 2021/22 (1[st] September 2021 to 31[st] August 2023)

A year of growing development and momentum alongside the continuing funding challenge

We were established in 2021 and registered as a Charity Limited by Guarantee on 8[th] January 2021.

The beginnings of the charity were rooted in the passion and desire of our Chair of Trustees, David Hall, to create and provide opportunities in digital and tech skills that would change young peoples’ lives.

The Foundation was set up as an outflow of Cloudy IT Group, David’s company. As someone who could easily have gone astray as a young person but was helped to make better decisions which changed his own life and future, David wanted to offer that opportunity to others and especially, to disadvantaged young people. He had himself been an apprentice, had lots of potential but was not academic, and was helped to develop a resource network of people and skills which helped get Cloudy IT off the ground.

Initially the thought was to do offer those opportunities to young people from within Cloudy IT as an expression of corporate social responsibility. It became clear that would not offer enough opportunities and development to satisfy the ambition for change.

The pandemic kick-started a much stronger expression of that passion and desire because of its devastating impact on young people and the Foundation was developed as a concept in 2020 and launched in January 2021. By using virtual technology and local connections, the Foundation had the exciting opportunity of supporting young people at a time when many were feeling isolated and lonely and often anxious and depressed.

Whilst the pandemic has a very different profile, our experience has shown us that those needs and concerns very much remain, even now. The interface between schools and business is improving but has a long way to go. Young people all too often don’t receive the vocational opportunities they need to move forward in life. That’s especially true for those young people who are not academic and don’t have clear routes into rewarding work.

2022/23 has been a year in which the tapering pandemic legacy has overlapped with the incoming economic and energy crises and huge pressure on public finances. That in turn has prompted the familiar story that there is more need than ever for what we do and at the same time a more challenging funding landscape.

It should be noted that all previous provision prior to this year was provided by Trustees volunteering

their time and by the secondment of technical staff from Cloudy IT. That was unsustainable and indeed hindering our response to need and demand. From August 2022 we began to add part time outsourced paid staff to support delivery and funding. That has built a positive

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platform and further developed into 2023/24 with the first part time PAYE appointment in October 2023.

The Foundation’s stated goal is to change young lives and futures by connecting them with business and employer networks and providing opportunities for digital and tech development. “Upskilling Young People for a digital world”. That attracted a skilled and switched-on group of initial Trustees. All of our Trustees from the previous year have served throughout the year under report. We additionally recruited an additional Trustee in October 2022, bringing the total to four. We have appointed two more in early 2023/24 and had one resignation following an employment change. We currently have five trustees.

The detail below gives some flavour of what’s now happening and the exciting developments – as well as the funding and fundraising challenge.

“It was a fantastic opportunity for young people. The Cloudy Foundation is doing exactly what business should be doing and empowering young people as the next generation.

Mollie Rapson. TD Synnex.

SkillBase is an amazing initiative for young people here in Buckinghamshire, helping them to develop a huge range of skills, from working in teams, digital skills, problem solving, leadership … all good stuff that employers are looking for and will help them be successful and happy in their future lives”.

Bill Muirhead, Peter Jones Foundation

A Case study in brief – Aaran Chauhan

Aaram came to Cloudy Foundation as a student at 15 yrs of age and joined our SkillBase Programme. He enjoyed and gained so much from it that he returned and volunteered as a part-time mentor, then tutor and then got involved in structuring our MS Dynamics CRM system, He then worked part time for 5 hrs per week while he finished his studies.

He is still working with the Foundation but has gone on to an apprenticeship with Barclays Bank in their Tech Division. An example of what can be achieved and an inspiration to our students and Team”

Pandemic and lingering post-pandemic impact

Our experience of Covid has been double edged, in that it impelled the Charity to find ways of supporting young people in need but made it a difficult time to drive the charity forward and to gain funding for it. We started too late to gain from the emergency funding made available to0 other charities and that meant it was more of a struggle to secure new funding. The ramp into provision was built from the particular generosity of the Cloudy Group but was restricted in size because of that external environment.

As we now embrace economic challenges and perhaps a more uncertain world in 2023, we are concerned to do all we can to build our capacity to make a difference and our integrated funding and delivery plan is very much part of that ambition.

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Structure, Governance and management

Trustees are approached personally or advertised for. We have a clear process for recruitment, application, approval or rejection, induction/onboarding and development. A duly completed application form is required, including references, and a role and person specification is clearly outlined. All trustees are DBS checked (as are staff and volunteers) in line with our safeguarding and equal opportunities policies. Trustees are supplied with appropriate information ahead of their considered application for Trusteeship; they are appointed and supported in line with the charity constitution, the good trustee guide and other legislative guidance.

The high-quality Board of Trustees meets six times per year (3 face to face and 3 virtually) to fulfil their role in overseeing and directing the affairs of the charity, ensuring that it is well-run and delivers the charitable outcomes for which it is established. One of those meetings is an annual strategy day, when the Trustees review the overall strategy for the charity, including where we work and what we need to provide and offer. Trustees are committed to the Nolan principles of selflessness, integrity, objectivity, accountability, honesty and leadership.

At time of writing (December 2023) we have five Trustees including one from Microsoft and another with LA and Charity management experience. We will add at least two more Trustees to the Board, with a priority on legal and accounting expertise by Easter and with a keen eye on diversity.

At this stage the staff team is small; as indicated above, during this financial year almost all inputs were from Trustees volunteering their time and via technical secondments from Cloudy IT. From August 2022 we added an experienced part-time CEO, to support development and fundraising; our PT CEO has a great track record and has previously run several successful charities. During 2023, we added three part-time workers (just 5 hrs each) to help with schools’ liaison, technical development and young people’s onboarding and support. In 2023/2024, from October 2023, and as funding permits, we will aim to appoint both project delivery and fundraising staff to help take the charity forward. We do have outsourced bookkeeping and admin to help support us and the advantage of close links with the resources of the Cloudy IT Group. The fundraising post is to develop especially unrestricted funds from Corporate and Community Events and Challenges and we expect to appoint by Easter 2024.

As part of our development planning, we now produce a two-year strategy set into a five-year frame of ambition, together with a two-year operational plan and fundraising plan. A rolling 18month cash flow is maintained to ensure sustainability and advance finance planning. Subject to funding, we will run our SkillBase Programme at least twice each term during 2023/2024 and support around 250-300 young people. See below.

We are ambitious but also realistic. There is much to do but we recognise the importance of getting right both the direction of travel and the pace of development whilst ensuring quality of delivery and optimum outcomes for young people.

Infrastructure and systems

In alignment with our current strategy and development ambitions we are developing a charitable extension of the MS Dynamics Database as a separate Charity Tenant, and we use Share-Point and Teams to support good information sharing and joint working. Staff and volunteers work remotely most of the time, meeting operationally as needed on Teams, but we have regular virtual Whole Team Meetings (monthly) and come together face to face for one day every other month to maintain relationships and mutual accountabilities.

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The aim again is to balance growth and prudence, ambition and sustainability, and to ensure the systems and processes are developed in line with and slightly ahead of, those developments.

Over 80%% of Tech Lab students surveyed in 2022-23 were positive that the programme had helped them make decisions about their next steps in terms of education, training or work.

2022/23 Activity and Provision (to end August 2023)

As indicated, initial provision was very much a response to Covid 19 and its impact on young people, as well as an expression of the passion and desire we have to change lives and futures within the digital landscape.

Overall, despite the challenges outlined, we have increased provision to 104 young people during in this second year of delivery as a charity (from 90 the year before and 70 the year before that). Exciting and very proving of the model. We have further developed the model and created a growing evidence base of outcomes and feedback. The developing SkillBase Programme has again been well received and sought after by students, schools, colleges and business and local authority partners.

SkillBase Programme

As the name suggest the aim of SkillBase is to support the digital skills acquisition of (especially disadvantaged) young people and to help them develop personally and including towards the world of work.

To do that we run two key integrated projects:

Tech Lab Project – helping young people to design and develop commercially viable apps and gain skills around tech but also communication, team-working and personal development, including planning and organisation. This is delivered over a full week of project work culminating in a presentation by the YP teams and an awards and affirmation session, a bit like dragons’ den and the apprentice, more of that below.

During 2022/23 we worked with several local and county councils and brought in local businesses to further support best outcomes.

The initial foundation of the project, in collaboration with Aylesbury Youth, was a research project in 2021, designed and developed by young people to encourage the young people of Aylesbury to share their views via an interactive App. Using the research findings, our Tech Lab followed at Buckinghamshire University Technical College, with a final exhibition and awards ceremony to determine the students’ winning concept, on Friday 2 July 2021.That has grown and developed throughout the previous year (2021/22)

Over the year under report (2021/23) we have further strengthened the project and worked collaboratively with schools and students across Aylesbury and Buckinghamshire, to produce great outcomes for young

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people, including Aylesbury Community Board and Bucks Council.

Enterprise Academy project (EA) – working with young people normally over an 8-week delivery, two sessions per week (primarily on line now hybrid as the pandemic recedes) to develop their digital skills and experience and to offer group and personal support.

There is every potential to extend that online provision into other areas. We are currently developing an outreach extension of the EA to the island of Jersey and the country of Zambia as well as elsewhere in the UK.

Both projects were well supported and enthusiastically endorsed by business and education partners and provided a great platform for further development.

The Society of Local Council Clerks (SLCC) sponsored an Enterprise Academy project last year to have young people from all over the UK develop a new App for SLCC members to use at their national conference. As well as delivering an easy-to-use, functional App to support the SLCC conference, the young people working on this project were supported by Cloudy Foundation mentors, CloudyIT engineers, and by a council clerk providing insights into their role; helping the young people involved to develop new digital, interpersonal, and careersrelated skills.

That approach was further extended and developed in the previous year and additional deliveries took place in Aylesbury (working with Nightingale Hospice), Stamford in Lincolnshire and linking charitable community engagement with Cloudy IT project development in local councils, something which is now leveraging further opportunities.

We have delivered two Tech lab and three Enterprise Academy deliveries in year 3 and would have done more were it not for limited funding and resource. Each Tech Lab costs around £5,000 and each online Enterprise Academy costs around £6,000. Whilst Cloudy IT Group have been generous investors and supporters the charity cannot progress without additional funding

An integrated Programme

From January 2023, we have combined the Tech Lab and Enterprise Academy Projects as twin aspects of our SkillBase Programme and to provide a flexible framework for the young people we support and for our partners.

Donate to Educate

The Charity also runs a laptop and IT refurbishment project and had refurbished and donated many laptops to other organisations working with disadvantaged young people and other groups.

Year 4 Provision – and forward developments

At time of writing, we are one term into our fourth year, so it seems appropriate to summarise developments in year 3 and also to indicate direction of travel going forwards. We lifted provision numbers from 70 in Year 1 to just under 100 YP in year 2 and as expected and planned, lifted that to 104 YP in 2022/3. Plans for year 4 are to further develop our exciting programme, fully bannered under the SkillBase Programme and increase provision to around 250-300 YP. Our three-year plan will break the 1000 objective within a further two years.

We have also developed exciting partnerships with (among others) Microsoft and with the Peter Jones Foundation, TD Synnex and MKU, which have added to our summer and autumn term SkillBase Programme. Going forward want to increasingly work with the young people we support over an extended period to gain best outcomes and benefits. We will aim to work with most young people we support over 12-18 months and for up to two years. Young people

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joining us as new students will be encouraged to return to projects at higher levels and to support incoming newbies and mentors and later tutors, where appropriate. The aim is to create a Cloudy Foundation “community” that will resource new initiatives. It will also enable us to better track outcomes and to see the longer-term benefits and outcomes for beneficiaries. We call this our “Progression Pyramid”.

In broad terms we expect two-thirds of the young people in any programme to be new to the programme and one third to be returning at a higher level and as mentors and tutors.

In this 2023/4 academic year (also our funding year) and subject to funding, we plan to deliver at least Two SkillBase programmes per term supporting at least 100 students, 300 per year. As part of that development, we are working with Bucks Council to support specific need groups. A SkillBase Programme will be run in Summer Term specifically for Care Leavers and we are developing an approach for young people on the autistic spectrum too. We are in discussion with a young carers organisation to further develop opportunities for YP often excluded from them.

We are balancing caution and ambition as we further develop the Foundation and concerned to diversify and strengthen income streams across grant making trusts, corporate companies, community events, and working with schools, colleges and individual donors to positively leverage funding and create fresh opportunities.

Going forward, we want to expand provision and opportunity by at least 50% per annum, so to around 450 YP in 2024/5 and aiming for over 600 YP the following year. Approaching 1000 YP two years later. That will include developing the organisation substantially, including fundraising as well as delivery capacity.

Outcomes:

Key outcomes include:

Finance and Fundraising Review

1.9.22 to 31.8.23

Cloudy IT continue to second staff and volunteer time to the Foundation – pro bono and in kind as well as in cash. In this last year, for the first time we have been successful in attracted grant investment and have also received donations from local authorities and corporates purchasing products and services from Cloudy IT. Turnover was much better but still modest as a charity and was understated by the generosity of local companies and individuals who continued to give time for free to make things happen.

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Income for the year under report was £34,293, up by 30%; expenditure was £31,689, up by 9% and that left us with a small managed surplus of £2,604 for the year. Much of that funding was unrestricted funding or restricted to our core service delivery and meant that our reserve at year end was just £670. Cash at Bank on 31.8.23 was £5,188.

The Trustees ambition is to achieve maintain a reserve of 4 months running costs at this stage, to help pump-prime further development and provide sustainability for the organisation.

We have been successful with some grant funding during 2023 which will contribute to further strengthened financial performance to 2023/24

Our budget in 2023/4 and fundraising plans, provide for around £98,000 of expenditure and an income of £120,000.

Fundraising

These are tough times in which to raise funds. Over the last two years we have determinedly moved from a situation in which our resources were confined to the voluntary inputs of Trustees and there were no paid staff working with Cloudy Foundation, to a monthly outgoing on staff from 1.9.23 of around £5,000, rising to around £10,000 per month by year end 2024. We have needed to move forward in this area as part of organisational development and as a response to growing need and demand.

We aim to ensure a diversified income stream across Statutory, Grant, Corporate and Community income and to continue to invest in each of those streams as part of our strategic and fundraising plan.

In the year 2022-23 we have been grateful for grant funding for the first time and so far, have raised £16,500; we are applying for further grants on a regular basis with a target of £50,000 for the next 12 months. Grant funding has just been received in the sum of £10,000. We have planned community and event targets of £60,000 for the year.

Overall budget is for income of £125,000 and expenditure of £93,000 creating a reserve of £32,000, at that stage around 4 months running costs.

We will invest in additional skills and resources and are confident of the direction and pace of forward development, and keen to secure partners and funders at all levels to help us to make more opportunities available to more young people.

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Name: David Hall (chair)

Signature

Date

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Inde endent Examinerfs Re CLOUDY FOUNDATION orttoth Tr Ind•pgnd8nt oxaminets report to the trustees of CLOUDY FOUNDATION (Ihe Charity'l I report lo the charity trusts on my examinalicn of the accounts of the Charity for thg year ended 31 A￿uSt 2023. Rgsponslbllllles and basls of roport As the ¢harilYs trustees of the Company you are r8sFonsible for the preparation of the s¢)￿unts in accordan￿ with the rwluiremenls of the Charities Act 2011 {'Ihe Act'l. I retort in re$pe¢t of my exwninalM)n of the charity's accourrts as carrigj out under secti)n 145 of the Charitieskt2011. In carrying (￿1 my examinati￿ I havefoll¢)wed the Directions gNen by the Chanty Commission under seCt￿n 145{51 (bl of the 2011 Act. Independent examlnorfs ststgmenl I ha￿ ccmpleted my examin8tion. I confimi that no material matters have come to my attention in connectKJn wrth the e￿inatIon giving me cause to believe thot in. any material respKI'. accounting records were not kept in aeeordance wrth section 130 ofthe Charities ACL or the accounts do nc &cord with those a¢￿￿nting records," or the accounts do not comply with the applicable requirements concerning the forn arbd conts accounts set oul in the CharIt￿S {Accounts arKI Reports) Regulations 2008 other than any requirement that the acr￿unIS give a'true and faiff vwl whth is not a matter consJered as part of an ￿ldependent examination. I have no corwns and have come acr088 no other matters in COnnect￿n wlh the examination lo vthich altentw)n should be drawn in this report in order to enable a proper uThJerstanding ofthe accounts to be ￿hed. 4LLTrr Suzanne Spicer FCA Spicer & Co UK Limf(ed Staple House 5 Eleanorfs Cross Dunstable Bedfordshire LU6 1SU Date". 141pagÈ

CLOUDY FOUNDATION

Statement of Financial Activities

for the Year Ended 31 August 2023

INCOME AND ENDOWMENTS FROM
Donations and legacies
Donations in kind
Total
EXPENDITURE ON
Charitable activities
Charitable activities
Governance costs
Total
Net SURPLUS/(DEFICIT)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.08.23
Unrestricted
Funds
£
8,811
-
8,811
(2,748)
(3,459)
(6,207)
2,604
670
3,274		 31.08.23
31.08.23
Restricted
Funds
Total Funds
£
£
13,500
22,311
11,982
11,982
25,482
34,293
(25,482)
(28,230)
-
(3,459)
(25,482)
(31,689)
-
2,604
-
670
-
3,274		 31.08.22
Unrestricted
Funds
£
8,980
17,305
26,285
(27,054)
(2,030)
(29,084)
(2,799)
3,469
670		 31.08.22
Total funds
£
8,980
17,305
26,285
(27,054)
(2,030)
(29,084)
(2,799)
3,469
670

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CLOUDY FOUNDATION

Balance Sheet

31 August 2023

Notes
FIXED ASSETS
Computer equipment
3
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
4
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted Funds brought forward
Unrestricted Funds in year
5		 31.08.23
Unrestricted
Funds

£
1,250
5,188
6,438
(3,164)
3,274
3,274
670
2,604
3,274
 31.08.23
Restricted
Funds
£
-
-
-
-
-
-
-
-
-		 31.08.23
Total Funds
£
1,250
5,188
6,438
(3,164)
3,274
3,274
670
2,604
3,274		 31.08.22
Unrestricted
Funds
£
2,188
522
2,710
(2,040)
670
670
3,469
(2,799)
670		 31.08.22
Total funds
£
2,188
522
2,710
(2,040)
670
670
3,469
(2,799)
670

The financial statements were approved by the Board of Trustees and authorised for issue on

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16.02.2024 and were signed on its behalf by:
.............................................
D Hall - Trustee
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CLOUDY FOUNDATION

for the Year Ended 31 August 2023

Notes to the Financial Statements

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', and Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment over 4 years

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Donations in kind

Donations in kind are recorded in the Statement of Financial Activities at their fair value at the point of donation.

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CLOUDY FOUNDATION

Notes to the Financial Statements - continued

for the Year Ended 31 August 2023

2. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023.

3. TANGIBLE FIXED ASSETS

Cost
At 1 September 2022
Additions
At 31 August 2023
Depreciation
At 1 September 2022
Charge for the year
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022		 Computer
Equipment
£
3,750
0
3,750
1,562
938
2,500
1,250
2,188		 Total
£
3,750
0
3,750
1,562
938
2,500
1,250
2,188

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals and deferred income
Trade Creditors		 31.08.23
£
1,020
2,144
3,164		 31.08.22
£
2,040
-
2,040

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CLOUDY FOUNDATION

Notes to the Financial Statements - continued

for the Year Ended 31 August 2023

5. MOVEMENT IN FUNDS

Unrestricted Funds
General fund
TOTAL FUNDS
Unrestricted Funds
General fund
TOTAL FUNDS		 At 01.09.22
£
670
670
At 01.09.21
£
3,469
3,469		 Net
movement
in funds
£
2,604
2,604
Net
movement
in funds
£
(2,799)
(2,799)		 At 31.08.23
£
3,274
3,274
At 31.08.22
£
670
670

6. RELATED PARTY DISCLOSURES

For the year ended 31 August 2023, goods and services totalling £1,364 (2022 - £17,305) were paid to Cloudy Group Ltd. A trustee, David Hall, is also a director of Cloudy Group Ltd.

7. DONATIONS IN KIND

For the year ended 31 August 2023, donations in kind totalling £11,982 (2022-£17,305) related to the services provided by the Chair of Trustees, David Hall.

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CLOUDY FOUNDATION

Detailed Statement of Financial Activities

for the Year Ended 31 August 2023

INCOME AND ENDOWMENTS
FROM
Donations and legacies
Donations in kind
Total
EXPENDITURE ON
Charitable activities
Fundraising costs
Service provision
Subscriptions
Insurance
Outsource and consulting
Marketing
Finance
Bank charges
Governance costs
Depreciation
Office costs
Accountancy fees
Total resources expended
Net Surplus/(Deficit)		 31.08.23
Unrestricted
Funds
£
8,811
-		 31.08.23
Restricted
Funds
£
13,500
11,982
25,482
1,685
11,982
-
-
11,815
-
25,482
-
-
-
-
-
25,482
-		 31.08.23
Total Funds
£
22,311
11,982
34,293
2,838
11,982
543
619
11,915
333
28,230
72
938
1,430
1,020
3,387
31,689
2,604		 31.08.22
Unrestricted
Funds
£
8,980
17,305
26,285
6,209
17,305
0
3,540
0
27,054
73
937
1,020
1,957
29,084
(2,799)		 31.08.22
Total funds
£
8,980
17,305
8,811 26,285
1,153
-
543
619
100
333		 6,209
17,305
0
3,540
0
2,748 127,054
72
938
1,429
1,020		 73
937
1,020
3,387 1,957
6,207 29,084
2,604 (2,799)

20 | P a g e