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2024-02-29-accounts

FOUNDATION FOR GOOD 2024 INNUAL REPORT PREPARED BY Fraser Neill

T A B L E O F C O N T E N T S

A D M I N I S T A T I V E I N F O R M A T I O N

R E P O R T O F T R U S T E E S 1-14
O B J E C T I V E S , M I S S I O N A N D V I S I O N 2-3
G O V E R N A N C E , S T R U C T U R E A N D M A N A G E M E N T 4
S E R V I C E S A N D T E S T I M O N I A L S 5-10
P L A N F O R T H E F U T U R E 11
O P E R A T I O N A L S U P P O R T A N D C H A L L E N G E S 12
R I S K S 13
F I N A N C I A L R E V I E W 14-15

D E C L A R A T I O N 16

1

A D M I N I S T A T I V E I N F O R M A T I O N

CHARITY NAME:

FOUNDATION FOR GOOD

CHARITY REGISTRATION:

FOUNDATION FOR GOOD IS A CHARITABLE INCORPORATED ORGANISATION (CIO), REGISTERED ON 23RD FEBRUARY 2021. REGISTRATION NUMBER: 1193644

CHARITY REGISTERED ADDRESS

FOUNDATION FOR GOOD 11-19 TRAFALGAR STREET CONSETT COUNTY DURHAM DH8 5AP

BOARD OF TRUSTEES

DAVID NEILL (WELLBEING LEAD) ROBERT SNAITH (COMMUNITY ADVOCATION LEAD) EGNES MANYENA (SAFEGUARDING LEAD) AMANDA FRENCH (EDUCATIONAL LEAD) RORY WHALING (FINANCIAL LEAD) TRACY MCCANN (FUNDING & POLICY LEAD)

CHIEF EXECUTIVE OFFICER ACCOUNTANT

FRASER NEILL ACCOUNTING FOR GOOD CIC, 2 Geordie Ridley Place . Upper Precinct, Wesley Court, . Blaydon-on-Tyne, Tyne and Wear . NE21 5BT

2

Happier, Healthier & More Cohesive Communities.

FOUNDATION FOR GOODS'S MISSION

O B J E C T I V E S

We took guidance from the Charity Commission on our positive works for the people within our area. The trustees have agreed that the guidence we received correctly represents our charities object and aims for benifiting the people of our community

The objects of the CIO, to be carried out in Consett and the surrounding area, are:

1) The promotion of community participation in healthy recreation for the public benefit through the provision of facilities to participate in sports capable of promoting physical health and fitness. (For the purposes of this clause “facilities” means land, buildings, equipment, access to coaching and organising sporting activities).

2) To advance in life and help young people through the provision of support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

3) To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

OUR PROMISE

“We look to offer a service which helps to elevate our members. our promise is to continue our development as an organisation to fit and help all people in this adapting and changing world. We are committed to continued professional development and realise when we all work together great things can be achieved.

Fraser Neill

Chief Executive Officer

3

G O V E R N A N C E S T R U C T U R E A N D M A N A G M E N T

G O V E R N I N G D O C U M E N T

The charity Foundation For Good was registered on 23 February 2021 and is governed by the constitution of a Charitable Incorporated Organisation (CIO), whose only voting members are its trustees under the CIO's foundation model constituation

T R U S T E E S

The management of the charity is the responsibility of the Trustees, who are elected and co-opted under the terms of the CIO's foundation model constitution. They are inducted through meetings with the chairman and other trustees, covering the history and current activities of the charity, governance and management, and the charities financial accounts, policies and procedures. Trustees are recruited based on their particular skillset and networks that are required for the growth of the CIO in alignment with the values and vision of the charity.

B O A R D O F T R U S T E E S

DAVID NEILL (WELLBEING LEAD) ROBERT SNAITH (COMMUNITY ADVOCATION LEAD) EGNES MANYENA (SAFEGUARDING LEAD) AMANDA FRENCH (EDUCATIONAL LEAD) RORY WHALING (FINANCIAL LEAD) TRACY MCCANN (FUNDING & POLICY LEAD)

O R G A N I S A T I O N A L S T R U C T U R E

Foundation For Good is a Charitable Incorporated Organisation governed by its trustee board which is responsible for setting the strategic direction of the organisation and also policy and procedure. The trustees carry ultimate responsibility for the conduct of the charity and for ensuring that it satisfied its legal and contractual obligations. The trustee board meets at-least quarterly and there may be additional meetings of appropriate members or groups as required. The day to day operation of the organisation has been delegated to the Chief Executive and other staff / volunteers, who are key to providing the services offered by the charity.

W I D E R N E T W O R K

Foundation For Good has no formal affiliations with other organisations but prides itself by working in partnerships. Building strong partnerships is essential when supporting our community. We believe that by working in key partnerships we can provide high quality support. Where appropriate we offer advise, refer and also signpost support for our members to our partnering cross sector organisations. We accept referrals from over 20 organisations that we work in partnership with.

4

R E A D M O R E A T W W W . F O U N D A T I O N F O R G O O D . C O . U K

O U R S E R V I C E S

5

FOOD BANK .￿e￿r￿mp￿t￿sh17YNth Feeding cwrertiYi¢tscusswJnstoa￿tst￿Sand tw upafuBlbtt partneishii) DOWN 8UT NOT OUT bjthsi mthttaiillhoaith &1thcll Ioiiw¢(xryknit*oftif• that ¢ièatès W1hen￿Si We to helpU%ysl￿￿arr￿XeWytlve ouliwk io Iowards happn95

BOXING Wesytrrftha space ftrycwg pwie to iwn ￿eXce1Wrtt¥n the swiofboxing Whe￿(th￿￿tt9do it forfunor c(rytib￿Y. ha¥Eyoung boxers ha￿￿nt w to box lor Erybnd The YOUTH & ADULTWELLBEING SERVICES .if*¥wJe of w¢ubeW￿ sefvware avz41abie ,IIF¢uThJ)kn ForGwd. forwth and SUkWL group SUPK)Ort Phys￿1&ctw1tyand

PIZZA SATURDAYS We¢JlwfreePluas elwsatwday from i% li need il ￿rv￿￿TrIr$ WU tt¥Woff1zza5avaiLibLe￿d YOUTH EMPOWERMENT PATHWAYS W4n urnbTeiLI serW￿f￿at rith Wh. Wing Iwntow hgalthwa 1i4)t• 1utLwe.Wet¥ea￿8 safe swwce usetscan ada0 ￿0VerClYlle0bslaCle5. Wo .is¥st In￿￿￿1(￿￿￿¢Ol￿r? Sy5tffln5wlh the9DalL asgstPW L&WS•)dwelcyry a m(*e Wiive attit￿le1)n toward

CHANGING LIVES THROUGH THE POWERS OF NEUROPLASTICITY EMPOWERING YOUNG PEOPLE WITH THE TOOLS, EXPERIENCES AND KNOW HOW IN ORDER TO MAKE POSITIVE 8EHAVIOUR CHANGES. GAINING CLARITY OF FUTURE LIFE DIRECTION. ENABLING A PL4N FOR SUCCESS. SPIKING STUDENTS ENGAGEMENT WtTHIN THEIR MAINSTREAM EDUCATIONAL SCHOOL HELPING STUDENTS TO COPE WITH THEIR EMOTIONS, LEARNING THEM HOW TO TAKE CONTROL OF THEIR NEUROLOGY IN ORDER TO 08TAIN FufuRE SUCCESS, A 41

M E E T U R I A H . .

T A G C O M B A T - F F G M Y W E L C O M E P L A C E

Uriah struggled to find an inclusive organisation in the area until he discovered our pioneering sport programme, “Tag Combat.” Since joining, Uriah has not only developed his skills but also formed many blossoming friendships.

F O R M I N G F R I E N D S H I P S

His family has noticed a significant positive change, reporting that these connections have greatly enhanced his social interactions and overall happiness. Initially attending just one day a week, Uriah has become a dedicated and enthusiastic member of our community, exemplifying the positive impact of inclusive sports on individual lives.

10

P L A N S F O R T H E F U T U R E

S E R V I C E D E V E L O P M E N T

Foundation For Good’s executive board, in conjunction with our Chief Executive Officer, is committed to expanding the charity’s services and further enhancing the significant benefits we provide to our members. In partnership with County Durham Council and the Directory for Alternative Learning Provisions, we deliver education to some of the most hard-to-reach young people in our area through our Alternative Learning Provision (ALP). This innovative service has already achieved outstanding outcomes and fostered the development of young people. By harnessing the power of neuroplasticity, we help individuals make essential neuro developments and behavioural changes necessary for future success.

Our collaboration in the field of alternative learning ensures a steady stream of referrals, thereby expanding our service reach and strengthening our evidence base of success. We have numerous exciting developments planned for the near future. A significant milestone is the submission of a building development grant, which, if successful, will enable us to make substantial changes to our facility. This grant will support the expansion and enhancement of our physical space, allowing us to accommodate more members and provide a wider range of services.

Our goal is to make our services inclusive for all, and we are developing frameworks to enable similar organisations to follow suit. These developments will significantly benefit our recipients and facilitate the growth of Foundation For Good, reaching new members and broadening our impact within the community.

V I S I O N T O E X P A N D

Our services positively change lives. In the future we plan to expand in order to be able to offer our unique and positive services to more people for public benefit. The growth of our services and the increase of public benefit will also bring charitable financial gain for Foundation For Good. The growth and expansion which is planned in the future will in turn help us further attain our visions and goals of making a positive difference within world.

11

O P E R A T I O N A L S U P P O R T A N D C H A L L E N G E S

Operational Support and Dedicated Team:

Our operational success is deeply rooted in the commitment and passion of our dedicated team of employees and volunteers. At Foundation For Good, we are fortunate to have a group of individuals who wholeheartedly believe in our mission to empower the most vulnerable members of our community in England's top 20% most deprived areas.

Employee Commitment:

Our employees play a pivotal role in translating our mission into impactful programs and initiatives. Their unwavering dedication is evident in the tireless efforts they put into the alternative education programs, food bank operations, mental health services, and the myriad of activities that form the core of our community support initiatives. Their commitment goes beyond the call of duty, with many of them actively seeking ways to innovate and enhance the effectiveness of our programs.

Volunteer Contributions:

Our volunteers, the lifeblood of our organisation, embody the spirit of community service. These selfless individuals generously donate their time, skills, and energy to support our various projects. Whether it's distributing food at the food bank, mentoring disadvantaged youth, or providing a listening ear through our mental health services, our volunteers contribute with a sense of purpose that transcends the challenges faced by the communities we serve.

Belief in the Mission:

What sets our team apart is a shared belief in the transformative power of community support. This shared vision unites employees and volunteers alike, fostering a collaborative and supportive work environment. Their collective dedication is not merely a job requirement but a genuine belief in the positive impact we can make in the lives of those who need it most.

Operational Challenges:

While our team remains steadfast in their commitment, it is essential to acknowledge the challenges we face. Limited resources, external factors affecting community dynamics, and the evolving landscape of social issues present hurdles that demand resilience and adaptability. Despite these challenges, our team's determination to overcome obstacles and continue serving the community remains unwavering.

In the face of adversity, the solidarity among our team members and volunteers serves as a source of strength. The challenges we encounter only deepen our resolve to find innovative solutions and enhance the effectiveness of our programs.

In conclusion, the operational success of Foundation For Good is intricately woven into the fabric of our dedicated team. Their commitment, resilience, and shared belief in our mission serve as the driving force behind our ability to create lasting positive change in the communities we proudly serve.

12

R I S K S

Risks and Mitigation Strategies

The trustees have identified critical risks related to the charity’s premises and have worked collaboratively with the CEO to implement proactive solutions that safeguard Foundation For Good’s ability to serve the community effectively.

1. Risk of Losing the Building

Risk:

The potential loss of the charity’s building posed a significant risk to the continuity of services and the community’s access to essential support programmes. Without ownership, there was a real threat that the building could be lost, undermining the charity’s ability to deliver its mission.

Mitigation:

To address this, the CEO took the initiative to apply for funding to secure the purchase of the building. Despite not having all the funding in place at the time to enable projects such as the future planned wellbeing café, this decisive action ensured that Foundation For Good retained ownership of the premises. We managed secure loan funding to successfully purchase the building. Owning the building eliminated the risk of losing this vital community asset, providing a stable base for ongoing and future services, including mental health support, alternative education, and food bank operations.

2. Risk of the Building Not Being Fit for Purpose

Risk:

The condition of the building presented challenges, including its suitability for delivering services effectively. Without significant improvements, the premises risked becoming unfit for purpose, limiting the charity’s ability to grow and meet increasing demand.

Mitigation:

To resolve this, the CEO applied for capital funding to enable the development and refurbishment of the building. This funding will facilitate:

These improvements will ensure the building is fit for purpose, creating a welcoming, sustainable, and fully functional space. This will allow Foundation For Good to expand its services, accommodate more individuals, and deliver initiatives such as the wellbeing café for the benefit of the wider community.

By taking proactive measures, the trustees, supported by the CEO’s leadership, have safeguarded the charity’s physical infrastructure. These actions ensure the charity can continue to provide a stable, inclusive, and transformative space for those who need it most, now and in the future.

13

F I N A N C I A L R E V I E W

The financial year ending 29 February 2024 has been a year of significant growth and progress for Foundation For Good, with income and expenditure reflecting both the expansion of services and strategic investments for the future.

Income

Total income for the year was £229,459, an increase from £65,543 in the previous year. This growth was primarily driven by:

Expenditure

Expenditure for the year totalled £172,583, up from £55,291 in the previous year. Key areas of expenditure included:

Despite increased expenditure, prudent management ensured that costs were closely aligned with income growth.

Surplus and Reserves

Foundation For Good recorded a net surplus of £56,876, increasing total funds carried forward to £76,390 (2023: £19,514). This surplus was achieved through a combination of robust fundraising and careful expenditure controls.

At the year-end, unrestricted reserves stood at £69,815, with restricted reserves of £6,575 allocated to specific projects. The trustees remain committed to maintaining a reserves policy to ensure sufficient funds are available to cover at least 3-6 months of core operating costs, providing a financial safety net against unforeseen challenges.

14

F I N A N C I A L R E V I E W

Strategic Investments

A significant milestone during the year was the acquisition of the charity’s building, valued at £200,000. This purchase was a proactive measure to safeguard the future of the premises for community use, ensuring continuity of services.

To address the building’s condition and ensure it remains fit for purpose, the CEO secured £420,000 from the Community Ownership Fund to begin capital refurbishment. This investment will enable essential upgrades, including energy efficiency improvements and modern heating systems, supporting the long-term sustainability of the facility.

Future Financial Strategy

Looking ahead, Foundation For Good will continue to focus on:

15

D E C L A R A T I O N S

The charity trustees declare that they approve the report and accounts for the period from 01 March 2023 to 29 February 2024.

Approved by the Trustees on 11 November 2024 and signed on it behalf by

Name: Rory Whaling Position: Trustee - Financial Lead

16

Charity Registration Number: 1193644 17

Foundation for Good CIO

Charity No. 1193644

Trustees' Report and Unaudited Accounts

29 February 2024

Foundation for Good CIO Contents

Pages
Trustees' Annual Report -
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Statement of Cash flows 13
Notes to the Accounts 5 to 12
Detailed Statement of Financial Activities 14 to 16

Page 1

Foundation for Good CIO Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 29 February 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1193644

Trustees

The following trustees served during the year:

A. French

E. Maryena

D. Neill

R. Snaith R.B. Whaling

Accountants

Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

R.B. Whaling Trustee 11 November 2024

Page 2

Foundation for Good CIO Independent Examiners Report

Independent Examiner's Report to the trustees of Foundation for Good CIO

I report to the trustees on my examination of the financial statements of Foundation for Good CIO for the year ended 29 February 2024.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

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 financial statements to be reached.

Kay Wightman FFA FTA Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT 11 November 2024

Page 3

Foundation for Good CIO Statement of Financial Activities

for the year ended 29 February 2024

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Other
7
Total
Net gains on investments
Net income
8
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds		 Restricted
funds		 Total funds Total funds
2024 2024 2024 2023
£ £ £ £
786 - 786 1
174,705 53,968 228,673 65,542
175,491 53,968 229,459 65,543
5,201 - 5,201 1,043
90,777 17,219 107,996 18,202
53,207 6,179 59,386 36,046
149,185 23,398 172,583 55,291
- - - -
26,306 30,570 56,876 10,252
23,995 (23,995) - -
50,301 6,575 56,876 10,252
50,301 6,575 56,876 10,252
19,514 - 19,514 9,262
69,815 6,575 76,390 19,514

Page 4

Foundation for Good CIO Balance Sheet

at 29 February 2024

Charity No. 1193644
Fixed assets
Tangible assets
10
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
11
Net current (liabilities)/assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
12
Restricted income funds
Unrestricted funds
12
General funds
Reserves
12
Total funds		 2024
£
224,845
224,845
8,620
8,620
(157,076)
(148,456)
76,389
76,389
76,389
6,575
6,575
69,815
69,815
76,389		 2023
£
2,480
2,480
19,897
19,897
(2,863)
17,034
19,514
19,514
19,514
-
-
19,514
19,514
19,514

Approved by the trustees on 11 November 2024

And signed on their behalf by:

R.B. Whaling Trustee 11 November 2024

Page 5

Foundation for Good CIO Notes to the Accounts

for the year ended 29 February 2024

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

Foundation for Good CIO Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold property % None Computer Equipment 33% Straight Line Motor Vehicle 25% Reducing Balance Plant & Machinery 20% Straight Line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 7

Foundation for Good CIO Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Page 8

Foundation for Good CIO Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Statement of Financial Activities - prior year

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
Donations
4
Income from charitable activities
Membership Fees
Grants
Fundraising		 Unrestricted
£
13,335
8,125
153,245
174,705		 Unrestricted
funds
2023
£
1
45,342
45,343
1,043
2,581
31,467
35,091
10,252
10,252
10,252
9,262
19,514
Unrestricted
£
786
786
Restricted
£
-
53,968
-
53,968		 Restricted
funds
2023
£
-
20,200
20,200
-
10,500
9,700
20,200
-
-
-
-
-
Total
2024
£
786
786
Total
2024
£
13,335
62,093
153,245
228,673		 Total funds
2023
£
1
65,542
65,543
1,043
13,081
41,167
55,291
10,252
10,252
10,252
9,262
19,514
Total
2023
£
1
1
Total
2023
£
37,250
20,200
8,092
65,542

Page 9

Foundation for Good CIO Notes to the Accounts

5 Expenditure on raising funds

Fundraising trading costs
6
Expenditure on charitable activities
Expenditure on charitable
activities
Membership Fees
Grants
Governance costs
Meeting Expenses
Volunteers Expenses
7
Other expenditure
Bank loan and overdraft
interest payable
Other interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets		 Unrestricted
£
70,110
20,617
50
-
90,777
Unrestricted
£
56
656
7,635
2,943
6,967
5,021
14,644
15,285
53,207		 Unrestricted
£
5,201
5,201
Restricted
£
17,219
-
-
-
17,219
Restricted
£
-
-
-
520
1,265
-
4,394
-
6,179
2024
£
5,021		 Total
2024
£
5,201
5,201
Total
2024
£
87,329
20,617
50
-
107,996
Total
2024
£
56
656
7,635
3,463
8,232
5,021
19,038
15,285
59,386		 Total
2023
£
1,043
1,043
Total
2023
£
12,272
5,121
343
466
18,202
Total
2023
£
-
-
2,571
4,976
8,249
663
16,947
2,640
36,046
2023
£
663

Page 10

Foundation for Good CIO Notes to the Accounts

Foundation for Good CIO
Notes to the Accounts
9
Staff costs
Social security costs
Pension costs		 2024
768
1,257
2,025		 2023
-
-
-
No employee received emoluments in excess
10 Tangible fixed assets
Land and
buildings
£
Cost or revaluation
At 1 March 2023
-
Additions
200,000
At 29 February 2024
200,000
Depreciation and
impairment
At 1 March 2023
-
Depreciation charge for the
year
-
At 29 February 2024
-
Net book values
At 29 February 2024
200,000
At 28 February 2023
-
11 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security
Loans from trustees
Other creditors
Accruals		 of £60,000. Plant &
Machinery
£
-
1,749
1,749
-
269
269
1,480
-		 Total
£
3,143
227,386
Computer
Equipment		 Motor
Vehicle
£
3,143
1,642
4,785
663
1,253
1,916
2,869
2,480		 £
-
23,995
23,995
-
3,499
3,499
20,496
-
2024
£
1,356
426
4,291
150,000
347
230,529
663
5,021
5,684
224,845
2,480
2023
£
1,998
40
-
-
-
656 825
157,076 2,863

Page 11

Foundation for Good CIO Notes to the Accounts

12 Movement in funds

Movement in funds
At 1 March
2023
-
-
-
-
-
-
19,514
19,514		 Incoming
resources
(including
other
gains/losses)
£
14,800
2,668
1,500
10,000
25,000
53,968
175,491
229,459		 Resources
expended
£		 Gross
transfers
£
-
-
-
-
(23,995)
(23,995)
23,995
-		 At 29
February
2024
£
6,575
-
-
-
-
Restricted funds:
Restricted income funds:
Durham Community
Foundation
Councillor Catherine Rooney
Durham County Council
Bernicia Foundation
The Clothworkers
Foundation
Total
Unrestricted funds:
General funds
Total funds
(8,225)
(2,668)
(1,500)
(10,000)
(1,005)
(23,398)
(149,185)
(172,583)
6,575
69,815
76,390

Purposes and restrictions in relation to the funds:

Restricted funds:
Durham Community Toward the cost of equipment, a project co-ordinator, energy costs,
Foundation wellbeing coach, warm spaces & core costs
Councillor Catherine Rooney Toward the purchase of a smartboard
Durham County Council Toward the purchase of sports equipment
Bernicia Foundation Toward the purchase of sports equipment
The Clothworkers Toward the purchase of a minibus & associated costs
Foundation

13 Analysis of net assets between funds

Fixed assets
Net current assets		 Unrestricted
funds
£
224,846
(148,456)
76,390		 Total
£
224,846
(148,456)
76,390

Page 12

Foundation for Good CIO Notes to the Accounts

14 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 March
2023
£		 Cash flows
£		 At 29
February
2024
£
19,897 (11,277) 8,620
19,897
19,897		 (11,277)
(11,277)		 8,620
8,620

15 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

2024
2024
2023
Land and
buildings
Other
Land and
buildings
£
£
£
Operating leases with expiry date:
Pension commitments
2024
£
The pension cost charge to the charity
amounted to:
1,257
Related party disclosures
2024
Transactions with related parties
£
Name of related party
Nobas Ltd
Description of relationship
between the parties
Trustee David Neill is a shareholder and
director of Nobas Ltd
Description of transaction
and general amounts
involved
£150,000 loan from Nobas Ltd to the charity.
Interest being paid at the Bank of England
base rate.
Amount due from/(to) the related party
(150,000)		 2023
Other
£
2023
£
-

16 Related party disclosures

Page 13

Foundation for Good CIO Statement of Cash flows for the year ended 29 February 2024

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Increase in trade and other payables
Net cash provided by operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Net cash used in investing activities
Net cash from financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
56,876
5,021
154,855
216,752
(227,386)
(227,386)
-
(10,634)
17,899
7,265		 2023
£
10,252
663
865
11,780
(3,143)
(3,143)
-
8,637
9,262
17,899
Components of cash and cash equivalents
Cash and bank balances 8,620 19,897
Bank overdrafts (1,356) (1,998)
7,264 17,899

Page 14

Foundation for Good CIO Detailed Statement of Financial Activities

for the year ended 29 February 2024

Income and endowments from:
Donations and legacies
Donations
Charitable activities
Membership Fees
Grants
Fundraising
Total income and endowments
Expenditure on:
Costs of other trading activities
Total of expenditure on raising
funds
Charitable activities
Membership Fees
Grants
Governance costs
Meeting Expenses
Volunteers Expenses
Total of expenditure on charitable
activities
Other expenditure
Bank loan and overdraft interest
payable
Other interest payable
Employee costs
Employer's NIC
Pension costs
Staff entertainment
Staff training
Staff welfare		 Unrestricte
d funds
2024
£
786
786
13,335
8,125
153,245
174,705
175,491
5,201
5,201
5,201
70,110
20,617
90,727
50
-
50
90,777
56
656
712
768
1,257
-
5,427
183
7,635		 Restricted
funds
2024
£
-
-
-
53,968
-
53,968
53,968
-
-
-
17,219
-
17,219
-
-
-
17,219
-
-
-
-
-
-
-
-
-		 Total funds
2024
£
786
786
13,335
62,093
153,245
228,673
229,459
5,201
5,201
5,201
87,329
20,617
107,946
50
-
50
107,996
56
656
712
768
1,257
-
5,427
183
7,635		 Total funds
2023
£
1
1
37,250
20,200
8,092
65,542
65,543
1,043
1,043
1,043
12,272
5,121
17,393
343
466
809
18,202
-
-
-
-
-
289
2,282
-
2,571

Motor and travel costs

Page 15

Foundation for Good CIO

Detailed Statement of Financial Activities

Vehicles - General costs
Travel and subsistence
Premises costs
Rent
Light, heat and power
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Computer
Equipment
Depreciation of Motor Vehicle
Depreciation of Plant &
Machinery
Bank charges
Equipment expensed
General insurances
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Consultancy fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)		 2,439
504
2,943
-
2,643
1,482
2,842
6,967
5,021
-
-
176
-
8,286
71
848
1,200
1,685
1,568
810
19,665
1,525
4,970
1,725
7,065
15,285
53,207
149,185
-
26,306
23,995
50,301		 520
-
520
-
1,225
-
40
1,265
-
-
-
-
991
485
-
-
2,740
-
178
-
4,394
-
-
-
-
-
6,179
23,398
-
30,570
(23,995)
6,575		 2,959
504
3,463
-
3,868
1,482
2,882
8,232
5,021
-
-
176
991
8,771
71
848
3,940
1,685
1,746
810
24,059
1,525
4,970
1,725
7,065
15,285
59,386
172,583
-
56,876
-
56,876		 2,472
2,504
4,976
3,600
2,772
175
1,702
8,249
663
-
-
178
8,924
2,039
96
1,059
531
2,114
1,635
371
17,610
1,525
-
835
280
2,640
36,046
55,291
-
10,252
-
10,252

Page 16

Foundation for Good CIO Detailed Statement of Financial Activities

Foundation for Good CIO
Detailed Statement of Financial Activities
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 -
50,301
19,514
69,815		 -
6,575
-
6,575		 -
56,876
19,514
76,390		 -
10,252
9,262
19,514

Page 17

Foundation for Good CIO

Charity No. 1193644

Trustees' Report and Unaudited Accounts

29 February 2024

Foundation for Good CIO Contents

Pages
Trustees' Annual Report -
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Statement of Cash flows 13
Notes to the Accounts 5 to 12
Detailed Statement of Financial Activities 14 to 16

Page 1

Foundation for Good CIO Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 29 February 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1193644

Trustees

The following trustees served during the year:

A. French

E. Maryena

D. Neill

R. Snaith R.B. Whaling

Accountants

Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

R.B. Whaling Trustee 11 November 2024

Page 2

Foundation for Good CIO Independent Examiners Report

Independent Examiner's Report to the trustees of Foundation for Good CIO

I report to the trustees on my examination of the financial statements of Foundation for Good CIO for the year ended 29 February 2024.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

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 financial statements to be reached.

Kay Wightman FFA FTA Accounting for Good CIC 2 Geordie Ridley Place Upper Precinct Wesley Court Blaydon on Tyne Tyne and Wear NE21 5BT 11 November 2024

Page 3

Foundation for Good CIO Statement of Financial Activities

for the year ended 29 February 2024

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Other
7
Total
Net gains on investments
Net income
8
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds		 Restricted
funds		 Total funds Total funds
2024 2024 2024 2023
£ £ £ £
786 - 786 1
174,705 53,968 228,673 65,542
175,491 53,968 229,459 65,543
5,201 - 5,201 1,043
90,777 17,219 107,996 18,202
53,207 6,179 59,386 36,046
149,185 23,398 172,583 55,291
- - - -
26,306 30,570 56,876 10,252
23,995 (23,995) - -
50,301 6,575 56,876 10,252
50,301 6,575 56,876 10,252
19,514 - 19,514 9,262
69,815 6,575 76,390 19,514

Page 4

Foundation for Good CIO Balance Sheet

at 29 February 2024

Charity No. 1193644
Fixed assets
Tangible assets
10
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
11
Net current (liabilities)/assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
12
Restricted income funds
Unrestricted funds
12
General funds
Reserves
12
Total funds		 2024
£
224,845
224,845
8,620
8,620
(157,076)
(148,456)
76,389
76,389
76,389
6,575
6,575
69,815
69,815
76,389		 2023
£
2,480
2,480
19,897
19,897
(2,863)
17,034
19,514
19,514
19,514
-
-
19,514
19,514
19,514

Approved by the trustees on 11 November 2024

And signed on their behalf by:

R.B. Whaling Trustee 11 November 2024

Page 5

Foundation for Good CIO Notes to the Accounts

for the year ended 29 February 2024

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

Foundation for Good CIO Notes to the Accounts

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold property % None Computer Equipment 33% Straight Line Motor Vehicle 25% Reducing Balance Plant & Machinery 20% Straight Line

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 7

Foundation for Good CIO Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Page 8

Foundation for Good CIO Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Statement of Financial Activities - prior year

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
Donations
4
Income from charitable activities
Membership Fees
Grants
Fundraising		 Unrestricted
£
13,335
8,125
153,245
174,705		 Unrestricted
funds
2023
£
1
45,342
45,343
1,043
2,581
31,467
35,091
10,252
10,252
10,252
9,262
19,514
Unrestricted
£
786
786
Restricted
£
-
53,968
-
53,968		 Restricted
funds
2023
£
-
20,200
20,200
-
10,500
9,700
20,200
-
-
-
-
-
Total
2024
£
786
786
Total
2024
£
13,335
62,093
153,245
228,673		 Total funds
2023
£
1
65,542
65,543
1,043
13,081
41,167
55,291
10,252
10,252
10,252
9,262
19,514
Total
2023
£
1
1
Total
2023
£
37,250
20,200
8,092
65,542

Page 9

Foundation for Good CIO Notes to the Accounts

5 Expenditure on raising funds

Fundraising trading costs
6
Expenditure on charitable activities
Expenditure on charitable
activities
Membership Fees
Grants
Governance costs
Meeting Expenses
Volunteers Expenses
7
Other expenditure
Bank loan and overdraft
interest payable
Other interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets		 Unrestricted
£
70,110
20,617
50
-
90,777
Unrestricted
£
56
656
7,635
2,943
6,967
5,021
14,644
15,285
53,207		 Unrestricted
£
5,201
5,201
Restricted
£
17,219
-
-
-
17,219
Restricted
£
-
-
-
520
1,265
-
4,394
-
6,179
2024
£
5,021		 Total
2024
£
5,201
5,201
Total
2024
£
87,329
20,617
50
-
107,996
Total
2024
£
56
656
7,635
3,463
8,232
5,021
19,038
15,285
59,386		 Total
2023
£
1,043
1,043
Total
2023
£
12,272
5,121
343
466
18,202
Total
2023
£
-
-
2,571
4,976
8,249
663
16,947
2,640
36,046
2023
£
663

Page 10

Foundation for Good CIO Notes to the Accounts

Foundation for Good CIO
Notes to the Accounts
9
Staff costs
Social security costs
Pension costs		 2024
768
1,257
2,025		 2023
-
-
-
No employee received emoluments in excess
10 Tangible fixed assets
Land and
buildings
£
Cost or revaluation
At 1 March 2023
-
Additions
200,000
At 29 February 2024
200,000
Depreciation and
impairment
At 1 March 2023
-
Depreciation charge for the
year
-
At 29 February 2024
-
Net book values
At 29 February 2024
200,000
At 28 February 2023
-
11 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security
Loans from trustees
Other creditors
Accruals		 of £60,000. Plant &
Machinery
£
-
1,749
1,749
-
269
269
1,480
-		 Total
£
3,143
227,386
Computer
Equipment		 Motor
Vehicle
£
3,143
1,642
4,785
663
1,253
1,916
2,869
2,480		 £
-
23,995
23,995
-
3,499
3,499
20,496
-
2024
£
1,356
426
4,291
150,000
347
230,529
663
5,021
5,684
224,845
2,480
2023
£
1,998
40
-
-
-
656 825
157,076 2,863

Page 11

Foundation for Good CIO Notes to the Accounts

12 Movement in funds

Movement in funds
At 1 March
2023
-
-
-
-
-
-
19,514
19,514		 Incoming
resources
(including
other
gains/losses)
£
14,800
2,668
1,500
10,000
25,000
53,968
175,491
229,459		 Resources
expended
£		 Gross
transfers
£
-
-
-
-
(23,995)
(23,995)
23,995
-		 At 29
February
2024
£
6,575
-
-
-
-
Restricted funds:
Restricted income funds:
Durham Community
Foundation
Councillor Catherine Rooney
Durham County Council
Bernicia Foundation
The Clothworkers
Foundation
Total
Unrestricted funds:
General funds
Total funds
(8,225)
(2,668)
(1,500)
(10,000)
(1,005)
(23,398)
(149,185)
(172,583)
6,575
69,815
76,390

Purposes and restrictions in relation to the funds:

Restricted funds:
Durham Community Toward the cost of equipment, a project co-ordinator, energy costs,
Foundation wellbeing coach, warm spaces & core costs
Councillor Catherine Rooney Toward the purchase of a smartboard
Durham County Council Toward the purchase of sports equipment
Bernicia Foundation Toward the purchase of sports equipment
The Clothworkers Toward the purchase of a minibus & associated costs
Foundation

13 Analysis of net assets between funds

Fixed assets
Net current assets		 Unrestricted
funds
£
224,846
(148,456)
76,390		 Total
£
224,846
(148,456)
76,390

Page 12

Foundation for Good CIO Notes to the Accounts

14 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 March
2023
£		 Cash flows
£		 At 29
February
2024
£
19,897 (11,277) 8,620
19,897
19,897		 (11,277)
(11,277)		 8,620
8,620

15 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

2024
2024
2023
Land and
buildings
Other
Land and
buildings
£
£
£
Operating leases with expiry date:
Pension commitments
2024
£
The pension cost charge to the charity
amounted to:
1,257
Related party disclosures
2024
Transactions with related parties
£
Name of related party
Nobas Ltd
Description of relationship
between the parties
Trustee David Neill is a shareholder and
director of Nobas Ltd
Description of transaction
and general amounts
involved
£150,000 loan from Nobas Ltd to the charity.
Interest being paid at the Bank of England
base rate.
Amount due from/(to) the related party
(150,000)		 2023
Other
£
2023
£
-

16 Related party disclosures

Page 13

Foundation for Good CIO Statement of Cash flows for the year ended 29 February 2024

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Increase in trade and other payables
Net cash provided by operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Net cash used in investing activities
Net cash from financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
56,876
5,021
154,855
216,752
(227,386)
(227,386)
-
(10,634)
17,899
7,265		 2023
£
10,252
663
865
11,780
(3,143)
(3,143)
-
8,637
9,262
17,899
Components of cash and cash equivalents
Cash and bank balances 8,620 19,897
Bank overdrafts (1,356) (1,998)
7,264 17,899

Page 14

Foundation for Good CIO Detailed Statement of Financial Activities

for the year ended 29 February 2024

Income and endowments from:
Donations and legacies
Donations
Charitable activities
Membership Fees
Grants
Fundraising
Total income and endowments
Expenditure on:
Costs of other trading activities
Total of expenditure on raising
funds
Charitable activities
Membership Fees
Grants
Governance costs
Meeting Expenses
Volunteers Expenses
Total of expenditure on charitable
activities
Other expenditure
Bank loan and overdraft interest
payable
Other interest payable
Employee costs
Employer's NIC
Pension costs
Staff entertainment
Staff training
Staff welfare		 Unrestricte
d funds
2024
£
786
786
13,335
8,125
153,245
174,705
175,491
5,201
5,201
5,201
70,110
20,617
90,727
50
-
50
90,777
56
656
712
768
1,257
-
5,427
183
7,635		 Restricted
funds
2024
£
-
-
-
53,968
-
53,968
53,968
-
-
-
17,219
-
17,219
-
-
-
17,219
-
-
-
-
-
-
-
-
-		 Total funds
2024
£
786
786
13,335
62,093
153,245
228,673
229,459
5,201
5,201
5,201
87,329
20,617
107,946
50
-
50
107,996
56
656
712
768
1,257
-
5,427
183
7,635		 Total funds
2023
£
1
1
37,250
20,200
8,092
65,542
65,543
1,043
1,043
1,043
12,272
5,121
17,393
343
466
809
18,202
-
-
-
-
-
289
2,282
-
2,571

Motor and travel costs

Page 15

Foundation for Good CIO

Detailed Statement of Financial Activities

Vehicles - General costs
Travel and subsistence
Premises costs
Rent
Light, heat and power
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Computer
Equipment
Depreciation of Motor Vehicle
Depreciation of Plant &
Machinery
Bank charges
Equipment expensed
General insurances
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Consultancy fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)		 2,439
504
2,943
-
2,643
1,482
2,842
6,967
5,021
-
-
176
-
8,286
71
848
1,200
1,685
1,568
810
19,665
1,525
4,970
1,725
7,065
15,285
53,207
149,185
-
26,306
23,995
50,301		 520
-
520
-
1,225
-
40
1,265
-
-
-
-
991
485
-
-
2,740
-
178
-
4,394
-
-
-
-
-
6,179
23,398
-
30,570
(23,995)
6,575		 2,959
504
3,463
-
3,868
1,482
2,882
8,232
5,021
-
-
176
991
8,771
71
848
3,940
1,685
1,746
810
24,059
1,525
4,970
1,725
7,065
15,285
59,386
172,583
-
56,876
-
56,876		 2,472
2,504
4,976
3,600
2,772
175
1,702
8,249
663
-
-
178
8,924
2,039
96
1,059
531
2,114
1,635
371
17,610
1,525
-
835
280
2,640
36,046
55,291
-
10,252
-
10,252

Page 16

Foundation for Good CIO Detailed Statement of Financial Activities

Foundation for Good CIO
Detailed Statement of Financial Activities
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 -
50,301
19,514
69,815		 -
6,575
-
6,575		 -
56,876
19,514
76,390		 -
10,252
9,262
19,514

Page 17