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.
- Help drive positive change within our community.
- Support people with their development.
- Help raise our communities aspirations and opportunities for future life success.
- Provide services which empowers our users.
- Provide a wide range of services to help more members of our community.
## **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
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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:
- A complete exterior and interior upgrade.
- Energy efficiency enhancements.
- Installation of modern heating and cooling systems.
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:
- Grant Funding: £53,968 secured from multiple funders, including Durham Community Foundation, The Clothworkers Foundation, and Bernicia Foundation, to support targeted initiatives and equipment purchases.
- Fundraising Activities: £153,245 raised through community events and initiatives, showcasing strong support from local partners and stakeholders.
- Service Income: Membership fees and programme contributions contributed £13,335, highlighting demand for the charity’s services.
## **Expenditure**
Expenditure for the year totalled £172,583, up from £55,291 in the previous year. Key areas of expenditure included:
- Charitable Activities: £107,996 was spent on delivering core services such as alternative education, community wellbeing programmes, and sports initiatives.
- Operational Costs: Investment in staff (£7,635), premises (£8,232), and general administration (£24,059) ensured the effective delivery of services.
- Strategic Development: £20,617 was allocated towards equipment and facility improvements to enhance service delivery.
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:
- Diversifying income streams through grants, fundraising, and sustainable initiatives like the wellbeing café.
- Careful financial planning to support programme growth while maintaining operational stability.
- Leveraging capital investments to create a welcoming, fully functional space that meets the needs of the community.
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:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
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**
- 1 **Accounting policies**
## **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**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
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**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **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:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
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**
- 1 **Accounting policies**
## **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**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
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**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **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