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2023-10-31-accounts

LooseHeadz Foundation Annual Trustee Report

For the period 1st November 2022 to 31st October 2023

Table of Contents

Overview ...................................................................................................................... 2 Strategic Partnerships and Global Reach ............................................................................ 2 Innovative Programmes and Community Engagement ......................................................... 3 LooseHeadz Barbarians and Grassroots Outreach ............................................................... 4 Expanding Our Toolkit ..................................................................................................... 4 Key Partnerships and Initiatives ....................................................................................... 5 Community Engagement and Campaigns ........................................................................... 6 Memorable Moments ..................................................................................................... 7 Looking Ahead ............................................................................................................... 8

1

Overview

The year ending 31st October 2023 has been nothing short of transformative for LooseHeadz. It has been a period of explosive growth, unprecedented impact, and furthering our mission. Throughout this year, LooseHeadz has not only extended its reach across new territories and sporting organisations but has now become a recognisable charity in the rugby space. All the while, we have remained committed to #TackleTheStigma, addressing mental health challenges within the rugby community and beyond.

The trustees of LooseHeadz Foundation are in awe of the incredible progress. We are filled with immense pride as we stop, pause, and reflect on these achievements. The road ahead is even brighter, and we are excited by the limitless possibilities that the future holds.

Strategic Partnerships and Global Reach

One of the most significant milestones of this extraordinary year was our successful tendering in August 2023 to become one of the British & Irish Lions’ Official Charity Partners for their highly anticipated 2025 tour to Australia. This partnership, officially announced in February 2024, is a monumental achievement that firmly establishes LooseHeadz as a leading voice in mental health advocacy on the world stage.

Among the many profound moments we experienced this year, meeting Beth and giving her the platform to share ‘Beth’s Story’ stands out as a deeply moving and impactful moment. In her powerful testimony, Beth shares how LooseHeadz literally saved her life - a testament to the life-changing and lifesaving work LooseHeadz is doing. Moments like these are not just affirmations of our mission

but powerful reminders of the vital importance of our work. It’s what gets us out of bed in the morning, knowing the incredible difference we are making in people’s lives. See Beth’s story in full here.

Our Partnership Programme has also soared to new heights this year. As of 31st October 2023, we proudly counted 934 clubs as part of our network. This number surged past 1,000 by January 2024 and has continued to climb, now surpassing 1,200 clubs across 28 countries as we stand in August 2024. One of the LooseHeadz values is ‘the importance of community’ so it’s amazing to see that grow in such a short period.

Innovative Programmes and Community Engagement

This year, we laid the foundation for our ambitious and visionary 3-step plan: Connect, Deliver, Support. Each step represents a bold leap forward in our mission to support mental health in rugby.

  1. Connect: We began the creation of an innovative online community hub designed to bring our global network of clubs together. This hub will not only administer our Partnership Programme but also serve as a dynamic platform for clubs to connect, share best practices, and engage directly with LooseHeadz. With the support of Capgemini, we are expected to launch the hub at the start of the 2025 season, which will bring a connected, empowered, and supportive global community for rugby clubs.

  2. Deliver: We successfully trialled our introductory mental health course, a pioneering step in our mission to equip the rugby community with essential mental health knowledge and education. Building on this, we are now developing a rugby-specific mental first aid course, set to be rolled out in 2024, that is expected to be a game-changer in how we better support our

3

mental health leads and provide training to give volunteers the confidence to identify those who need support.

  1. Support: Recognising the urgent need for clinical support services, we initiated the development of a ‘Gold Standard’ clinical support service. We are excited to announce that a pilot programme is scheduled to go live in the summer of 2024, offering critical support where it’s needed most.

This 3-step plan will be the first-of-its-kind mental health solution in grassroots sport around the world.

LooseHeadz Barbarians and Grassroots Outreach

In April 2023, we proudly launched the LooseHeadz Barbarians, a rugby team that embodies the spirit of our mission. This team is not just about playing the game; it’s about raising awareness, spreading our message, engaging the grassroots rugby community, and making mental health a conversation in the rugby world. Over the course of this year, our men’s and women’s sides have played 15 games, each one a powerful occasion to promote mental health and reach new communities. These matches have ignited conversations, inspired action, and in some cases, they have changed and even saved lives.

Expanding Our Toolkit

This year has also been marked by the expansion of our resources and tools to support rugby clubs.

4

Key Partnerships and Initiatives

Our strategic partnerships have been instrumental in driving our mission forward, each one contributing to the incredible impact we have achieved this year:

5

Community Engagement and Campaigns

Our club visits and campaigns have been the heartbeat of our efforts this year, each one a powerful force for change:

6

annual awareness week which continues to grow. See here for the showreel of that week.

Memorable Moments

This year has been filled with unforgettable moments and milestones that have defined our journey and inspired us to reach even higher:

7

LooseHeadz and the partnership we have with MLR in the USA. See here for that interview.

Looking Ahead

As we close the chapter on this reporting year, we are filled with energy and excitement for the opportunities that lie ahead. The continued growth of our programmes, the deepening of our partnerships, and the launch of new initiatives position us to make an even greater impact in 2024 and beyond. Our commitment is stronger than ever.

We would like to extend our thanks to all our partners, supporters, and volunteers, whose dedication and passion have been instrumental in this journey to date.

Mark Shotton

Chair of Trustees.

August 2024

8

REGISTERED COMPANY NUMBER: CE024560 (England and Wales) REGISTERED CHARITY NUMBER: 1193051

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 October 2023

for

Looseheadz Foundation

Higsons Limited Accountants Offices 1 and 2 1A King Street Farnworth Bolton Greater Manchester BL4 7AB

Looseheadz Foundation

Contents of the Financial Statements for the Year Ended 31 October 2023

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 9
Detailed Statement of Financial Activities 10

Looseheadz Foundation

Report of the Trustees for the Year Ended 31 October 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives and aims of LooseHeadz Foundation are to promote and preserve the good mental and physical health of those suffering from or who are at risk of developing any form of mental ill-health but not exclusively by:

(1) The provision of help, support and advice through school and work-based mental health and wellbeing training courses.

(2) Promoting participation in healthy recreation by organising or assisting in the organisation of the playing of rugby to improve the mental and physical health of those suffering from or who are at risk of developing any form of mental ill-health.

(3) Making grants to other charities which provide help, support, and advice to those suffering from or who are at risk of developing any form of mental ill-health.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

CE024560 (England and Wales)

Registered Charity number

1193051

Registered office

6 Stockton Road Wilmslow Cheshire SK9 6EU

Trustees

M R C Shotton Chair N Day M W McCall M Price

Independent Examiner

Higsons Limited Accountants Offices 1 and 2 1A King Street Farnworth Bolton Greater Manchester BL4 7AB

Approved by order of the board of trustees on 24 July 2024 and signed on its behalf by:

Page 1

Looseheadz Foundation

Report of the Trustees for the Year Ended 31 October 2023

M R C Shotton - Trustee

Page 2

Independent Examiner's Report to the Trustees of Looseheadz Foundation

Independent examiner's report to the trustees of Looseheadz Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited 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 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Colin Turner ACCA

Higsons Limited Accountants Offices 1 and 2 1A King Street Farnworth Bolton Greater Manchester BL4 7AB

24 July 2024

Page 3

Looseheadz Foundation

Statement of Financial Activities for the Year Ended 31 October 2023

31.10.23 31.10.22
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 148,065 31,819
Other trading activities 2 830 -
Total 148,895 31,819
EXPENDITURE ON
Raising funds 3 25,776 5,188
Other 111,865 5,306
Total 137,641 10,494
NET INCOME 11,254 21,325
RECONCILIATION OF FUNDS
Total funds brought forward 30,495 9,170
TOTAL FUNDS CARRIED FORWARD 41,749 30,495

The notes form part of these financial statements

Page 4

Looseheadz Foundation

Balance Sheet

31 October 2023

31.10.23 31.10.22
Unrestricted Total
fund funds
Notes £ £
CURRENT ASSETS
Debtors 6 - 12,000
Cash at bank 41,749 18,495
41,749 30,495
NET CURRENT ASSETS 41,749 30,495
TOTAL ASSETS LESS CURRENT
LIABILITIES 41,749 30,495
NET ASSETS 41,749 30,495
FUNDS 7
Unrestricted funds 41,749 30,495
TOTAL FUNDS 41,749 30,495

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 24 July 2024 and were signed on its behalf by:

M R C Shotton - Trustee

The notes form part of these financial statements

Page 5

Looseheadz Foundation

Notes to the Financial Statements for the Year Ended 31 October 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
31.10.23 31.10.22
£ £
Fundraising events 830 -

Page 6

continued...

Looseheadz Foundation

Notes to the Financial Statements - continued for the Year Ended 31 October 2023

3. RAISING FUNDS

Raising donations and legacies

Raising donations and legacies
31.10.23 31.10.22
£ £
Support costs 25,776 5,188

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 31,819
EXPENDITURE ON
Raising funds 5,188
Other 5,306
Total 10,494
NET INCOME 21,325
RECONCILIATION OF FUNDS
Total funds brought forward 9,170
TOTAL FUNDS CARRIED FORWARD 30,495

continued...

Page 7

Looseheadz Foundation

Notes to the Financial Statements - continued for the Year Ended 31 October 2023

6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Looseheadz Limited
7.
MOVEMENT IN FUNDS
At
1.11.22
£
Unrestricted funds
General fund
30,495
TOTAL FUNDS
30,495
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
148,895
TOTAL FUNDS
148,895
Comparatives for movement in funds
At
1.11.21
£
Unrestricted funds
General fund
9,170
TOTAL FUNDS
9,170
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
31,819
TOTAL FUNDS
31,819		 31.10.23
31.10.22
£
£
-
12,000
Net
movement
At
in funds
31.10.23
£
£
11,254
41,749
11,254
41,749
Resources
Movement
expended
in funds
£
£
(137,641)
11,254
(137,641)
11,254
Net
movement
At
in funds
31.10.22
£
£
21,325
30,495
21,325
30,495
Resources
Movement
expended
in funds
£
£
(10,494)
21,325
(10,494)
21,325

continued...

Page 8

Looseheadz Foundation

Notes to the Financial Statements - continued for the Year Ended 31 October 2023

7. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Net
At
movement
At
1.11.21
in funds
31.10.23
£
£
£
9,170
32,579
41,749
9,170
32,579
41,749		 Net
At
movement
At
1.11.21
in funds
31.10.23
£
£
£
9,170
32,579
41,749
9,170
32,579
41,749
41,749

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
180,714
180,714		 Resources
Movement
expended
in funds
£
£
(148,135)
32,579
(148,135)
32,579		 Resources
Movement
expended
in funds
£
£
(148,135)
32,579
(148,135)
32,579
32,579

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2023.

Page 9

Looseheadz Foundation

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Fundraising events
Total incoming resources
EXPENDITURE
Other
Management charges
Support costs
Management
Insurance
Information technology
Computer & IT costs
Miscellaneous and travel
Sundries
Travel
Administration and other costs
Advertising and marketing
Postage and stationery
Qbooks subscription
Shout Text Line subscription
Total resources expended
Net income		 Detailed Statement of Financial Activities
for the Year Ended 31 October 2023
31.10.23
31.10.22
£
£
148,065
31,819
830
-
148,895
31,819
111,865
-
220
-
3,332
1,075
195
40
1,799
608
1,994
648
16,558
5,188
-
20
252
143
3,420
3,420
20,230
8,771
137,641
10,494
11,254
21,325		 Detailed Statement of Financial Activities
for the Year Ended 31 October 2023
31.10.23
31.10.22
£
£
148,065
31,819
830
-
148,895
31,819
111,865
-
220
-
3,332
1,075
195
40
1,799
608
1,994
648
16,558
5,188
-
20
252
143
3,420
3,420
20,230
8,771
137,641
10,494
11,254
21,325
31,819
-
-
1,075
40
608
648
5,188
20
143
3,420
8,771
10,494
21,325

This page does not form part of the statutory financial statements

Page 10

REGISTERED COMPANY NUMBER: CE024560 (England and Wales) REGISTERED CHARITY NUMBER: 1193051

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 October 2023

for

Looseheadz Foundation

Higsons Limited Accountants Offices 1 and 2 1A King Street Farnworth Bolton Greater Manchester BL4 7AB

Looseheadz Foundation

Contents of the Financial Statements for the Year Ended 31 October 2023

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 9
Detailed Statement of Financial Activities 10

Looseheadz Foundation

Report of the Trustees for the Year Ended 31 October 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives and aims of LooseHeadz Foundation are to promote and preserve the good mental and physical health of those suffering from or who are at risk of developing any form of mental ill-health but not exclusively by:

(1) The provision of help, support and advice through school and work-based mental health and wellbeing training courses.

(2) Promoting participation in healthy recreation by organising or assisting in the organisation of the playing of rugby to improve the mental and physical health of those suffering from or who are at risk of developing any form of mental ill-health.

(3) Making grants to other charities which provide help, support, and advice to those suffering from or who are at risk of developing any form of mental ill-health.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

CE024560 (England and Wales)

Registered Charity number

1193051

Registered office

6 Stockton Road Wilmslow Cheshire SK9 6EU

Trustees

M R C Shotton Chair N Day M W McCall M Price

Independent Examiner

Higsons Limited Accountants Offices 1 and 2 1A King Street Farnworth Bolton Greater Manchester BL4 7AB

Approved by order of the board of trustees on 24 July 2024 and signed on its behalf by:

Page 1

Looseheadz Foundation

Report of the Trustees for the Year Ended 31 October 2023

M R C Shotton - Trustee

Page 2

Independent Examiner's Report to the Trustees of Looseheadz Foundation

Independent examiner's report to the trustees of Looseheadz Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited 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 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Colin Turner ACCA

Higsons Limited Accountants Offices 1 and 2 1A King Street Farnworth Bolton Greater Manchester BL4 7AB

24 July 2024

Page 3

Looseheadz Foundation

Statement of Financial Activities for the Year Ended 31 October 2023

31.10.23 31.10.22
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 148,065 31,819
Other trading activities 2 830 -
Total 148,895 31,819
EXPENDITURE ON
Raising funds 3 25,776 5,188
Other 111,865 5,306
Total 137,641 10,494
NET INCOME 11,254 21,325
RECONCILIATION OF FUNDS
Total funds brought forward 30,495 9,170
TOTAL FUNDS CARRIED FORWARD 41,749 30,495

The notes form part of these financial statements

Page 4

Looseheadz Foundation

Balance Sheet

31 October 2023

31.10.23 31.10.22
Unrestricted Total
fund funds
Notes £ £
CURRENT ASSETS
Debtors 6 - 12,000
Cash at bank 41,749 18,495
41,749 30,495
NET CURRENT ASSETS 41,749 30,495
TOTAL ASSETS LESS CURRENT
LIABILITIES 41,749 30,495
NET ASSETS 41,749 30,495
FUNDS 7
Unrestricted funds 41,749 30,495
TOTAL FUNDS 41,749 30,495

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 24 July 2024 and were signed on its behalf by:

M R C Shotton - Trustee

The notes form part of these financial statements

Page 5

Looseheadz Foundation

Notes to the Financial Statements for the Year Ended 31 October 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
31.10.23 31.10.22
£ £
Fundraising events 830 -

Page 6

continued...

Looseheadz Foundation

Notes to the Financial Statements - continued for the Year Ended 31 October 2023

3. RAISING FUNDS

Raising donations and legacies

Raising donations and legacies
31.10.23 31.10.22
£ £
Support costs 25,776 5,188

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 31,819
EXPENDITURE ON
Raising funds 5,188
Other 5,306
Total 10,494
NET INCOME 21,325
RECONCILIATION OF FUNDS
Total funds brought forward 9,170
TOTAL FUNDS CARRIED FORWARD 30,495

continued...

Page 7

Looseheadz Foundation

Notes to the Financial Statements - continued for the Year Ended 31 October 2023

6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Looseheadz Limited
7.
MOVEMENT IN FUNDS
At
1.11.22
£
Unrestricted funds
General fund
30,495
TOTAL FUNDS
30,495
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
148,895
TOTAL FUNDS
148,895
Comparatives for movement in funds
At
1.11.21
£
Unrestricted funds
General fund
9,170
TOTAL FUNDS
9,170
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
31,819
TOTAL FUNDS
31,819		 31.10.23
31.10.22
£
£
-
12,000
Net
movement
At
in funds
31.10.23
£
£
11,254
41,749
11,254
41,749
Resources
Movement
expended
in funds
£
£
(137,641)
11,254
(137,641)
11,254
Net
movement
At
in funds
31.10.22
£
£
21,325
30,495
21,325
30,495
Resources
Movement
expended
in funds
£
£
(10,494)
21,325
(10,494)
21,325

continued...

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Looseheadz Foundation

Notes to the Financial Statements - continued for the Year Ended 31 October 2023

7. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Net
At
movement
At
1.11.21
in funds
31.10.23
£
£
£
9,170
32,579
41,749
9,170
32,579
41,749		 Net
At
movement
At
1.11.21
in funds
31.10.23
£
£
£
9,170
32,579
41,749
9,170
32,579
41,749
41,749

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
180,714
180,714		 Resources
Movement
expended
in funds
£
£
(148,135)
32,579
(148,135)
32,579		 Resources
Movement
expended
in funds
£
£
(148,135)
32,579
(148,135)
32,579
32,579

8. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 October 2023.

Page 9

Looseheadz Foundation

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Fundraising events
Total incoming resources
EXPENDITURE
Other
Management charges
Support costs
Management
Insurance
Information technology
Computer & IT costs
Miscellaneous and travel
Sundries
Travel
Administration and other costs
Advertising and marketing
Postage and stationery
Qbooks subscription
Shout Text Line subscription
Total resources expended
Net income		 Detailed Statement of Financial Activities
for the Year Ended 31 October 2023
31.10.23
31.10.22
£
£
148,065
31,819
830
-
148,895
31,819
111,865
-
220
-
3,332
1,075
195
40
1,799
608
1,994
648
16,558
5,188
-
20
252
143
3,420
3,420
20,230
8,771
137,641
10,494
11,254
21,325		 Detailed Statement of Financial Activities
for the Year Ended 31 October 2023
31.10.23
31.10.22
£
£
148,065
31,819
830
-
148,895
31,819
111,865
-
220
-
3,332
1,075
195
40
1,799
608
1,994
648
16,558
5,188
-
20
252
143
3,420
3,420
20,230
8,771
137,641
10,494
11,254
21,325
31,819
-
-
1,075
40
608
648
5,188
20
143
3,420
8,771
10,494
21,325

This page does not form part of the statutory financial statements

Page 10