REGISTERED CHARITY NUMBER: 1194201 REPORTOF THE TRUSTEESAND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE NOELSWEENEY FOUNDATION J W Hlnk5 LLP Chartered Accountant5 19 Hi8hfleld Road EdEba5ton 8lrmlngham West Midlands BIS 3BH
THE NOELSWEENEY FOUNDATION CoNTEs OFTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Report oftheTruslee5 Independent Examlner's Report Statement of Flnandal Actlvltles Balanc• Sheet Notes to the Flo)andal Statements 7 to 11
THE NOEL 5WEENEY FOUNDATION REPORT0FTHETRUEEs FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present thelr report wlth the financial Statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191. OBJEcfivES AND A1VITIEs Oblertlves and aim5 ur ose an The Noel Sweeney Foundations, objects and prlnclpal actlvltles are to hold the capltal and income of the trust fund upon trust to apply the Income, and all or such part or part5 of the capital, at such time or tlmes and in such manner to, or for the benefit of, such exclusively charStable objects and purposes In any part of the world as the Trustee5 may in thelr dlscretlon thlnk flt. We review our alms, objectives and actlvitles each year. Thls revlew looks at what we achleved and the outcomes of our work in the prevlous 12 months. The revlew looks at the success of each key activlty and the beneflts they have brought to those groups of people we are set up to help. The revlew also helps u5 to ensure that our aim, objectives and activities remalned focused on our stated purposes. We have referred to the Buldance contained in the Charlty Commission's 8eneral 8UIdan on publlc beneflt when revlewSn8 our alms and oblectlves and in plannlng our future actlvltle5. In partitular, the twstee5 conslder how planned actlvliles wlll contrlbute to the aims and oblectlves they have set. Grantmakln8 The Charlty recelve5 appllcatlons from varlous organ15atlons and conslder those which support and dellver the charlty's oblects. ApplScatlons are as5e55ed on a case by case basls dependlng upon the avallable resources of the fund. ACHIEVEMENT ANO PERFORMANCE tharltable actlvltles Durln8 the perlod the charity was able to generate suffbclent funds to award grants In accordance wlth It5 objects. FINANCIAL REVIEW Reserves pollcv The Trust maintalns St5 reserves at a sufflclent level for it to meet the management admlnlstratlon and support costs and for the makin8 of charitable granls. The Trustees will ensure that the level maintained 15 5ufflcient for the Trust's current needs and any funds not immedlately requlred wlll then be Invested In accordance with the Trustees, investment poweis should a 5Ultable opportunlty occur. The Statement of Financial Activities for the year ended 31 Oecember 2024 shtsws IncomSng resources of £210,0(NI12023.' £266,765) and resources expended of £342,492 12023: £252,433>, generatin8 net outgoing resource5 of £132.492 12023.. net incoming resources of £14,332). The closlng net assets of the charlty at 31 December 2024 amounted to £115.61012023.. £248,102). The reserve5 are held to provlde future charitable grants In accordance with the objècts of the chaTIty. FUTURE PLANS There are no plans lor changes in the general activities of the Trust at present. The level of future donatlon5 to be made wlll be determined by the level of funds avallable. Page I
THE NOEL SWEENEY FOUNDATION REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT fjovernlng document The Noel Sweeney Foundatlon Is constltuted under a trust deed dated 13 July 2020 and arnended by a supplernental deed dated April 2021. Recrultment and appolntmertt of new trustees The power of appolntlng new trustees shall be vested in the Trustees. A trustee may be appointed or dlscharged by resolution of a meeting of the Trustees. provlded that a memorandum declaring suc appolntment or dlscharge shall be 518ned as a deed, either at thè meeting by the person preslding of in sorne otheT manneT dlTected E the meeting and attested by two other persons present at the meetSng. A new trustee or new trustee5 may be appointed at any time, and notwlthstandlng that the total number of Trustees may exceed four. Organ15atlonal structure The Trustees shall hold at least two meetin85 In each calendar year. REFERENCE AND ADMINISTRATIVE DETAILS Re8lstered Charfty number 1194201 PrlncSpal address St Joseph's House Hl8h street Cha5etown Staffordshlre W57 3XGX Trustee5 J R A Crabtree M D Holder C M Sweeney SBRose J E Caudle Independent Examlner J W Hinks LLP Chartered Accountants 19 Hlghfleld Road Edgbaston Birmlngharn West MSdlands B15 3BH Bankers HSBC Bank PIC 49 Market Street Uehfleld Stafford5hire WS13 6L4 PaEe 2
THE NOEL SWEENEY FOUNDATION REPORT OFThE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2024 COMMENCEMENTOFAcrwmES The chartty commenced it'5 tradln8 aLtlvTties on 15 October 2020. Approved by order of the board of trustees on.l.i...).ytthkn.....&.ISnd slBned on its behalf by: M D Holde - Trustee Page 3
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE NOEL SWEENEY FOUNDATION Independent examiner's report to the trustee5 of The Noel 5weeney Foundation I report to the charity trusteès on my examination of the accounts of The Noel Sweeney Frjundation (the Trust) for the year ended 31 December 2024. ResptsnsibllSties and basis of report A5 ihe charity trustees of the Trust you are responslble for the preparatlon of the accounts in accordance wlth the requirements of the CharltSes Act 20111'the Act'l. I report In respect of my examinatlon of the Trust's accounts caTrled out under Sectlon 145 of the Act and in carrylng out my examination I have followed all applicable Directions given by the Charity Commlssion under 5ectlon 14515llbl of the Act. Independent emamlner's statement I have completed my exarnination. I confirm that no materlal matters have come to my attentlon In connectlon with the examination 8iMnB me cause to believe that In any material respect: accountln¥ recorils were not kept In respect of the Trust as requlred by Section 130 of the Act,. or thè accounts do not accord with those records; or the accounts do not cornp1y with the appllcable requirements concemlng the form and content of accounts set out In the CharitSe5 (Accounts and Reports) Regulation$ 2008 other than any requirement that the accounts glve a true and falr vlew whlch Is not a matter consldered as part of an Independent examlnatlon. I have no concerns and have come acros5 no other matters In connectlon with the examlnatlon to whlch attention should be drawn In th15 report In order to enable a proper understandin8 of the a¢¢ounts to be reached. James Cruse FCA, FCCA JWHinksLLP Chartered Accountants 19 Hlghfleld Road Edgbaston Birmingham West Mldland5 B15 3HH Date.. ..Ik Page 4
THE NOELSWEENEY FOUNDATION STATEMENT OF FINANcIALAcfivlE5 FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Unre5trlrted fund 2023 Total fvnds Notes INCOME AND ENDOWMENTS FROM Donatlon5 and legacie5 210.000 266,765 EXPENDrruRE ON Charltable actlvlties Provlsion of charltsble grants Support costs Governance costs 340,516 176 1,800 250,297 156 1,980 Total 342N92 252,433 NET INCOMEIIEXPENOtruREI 11314921 14,332 RECONCILIATION OF FUNDS Total funds brought forward 248,102 233,770 TOTAL FUNDS CARRIEO FORWARD 115,610 248,102 The note5 form part of these financlal statements
THE NOELSWEENEY FOUNDATION BALANCE SHEEr 31 DECEMBER 2024 2024 Unrestrfrted fund 2023 Total funds Notes CURRENT ASSErs Debtors Cash at bank 16,765 233,317 117,410 117,410 250,082 CREOITORS Amounts falling due withln one year 11,81XII 11,9801 NET CURREFAssETS 115,610 248,102 TOTAL AS5Ef5 LESS CURRENT UABIUTIES 115,610 248,102 NET ASSErs 115,610 248,102 FUNDS Unrestricted fund5 115,610 248,102 TOTALFUNOS 115,610 248,102 The fSnanclal Statements were approved by the Board of Trustees and authorlsed for issue on 1L.*bA£...2.IS and were slgned on It5 behalf by.. rus C M Sweeney-Tru5tee The notes fomi part of these financlal statements
THE NOELSWEENEY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity. which is a public beneflt entity under FRS 102. have been prepared In accordance wlth the Charitles SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charitie5 preparing thelr account5 In accordance wlth the Financial Reporting Standard applicable In the UK and Republle of Ireland IFRS 1021 leffective l January 20191,, Financial Reportln@ Standard 102 'The F1nancial Reporting Standard applirdble In the UK and Republic of Ireland, and the Charltles Act 2011. The flrbanclal statement5 have begn prepared undeT the historical cost conventlon. INCOME All Income Is recognbsed in the Statement of Flnanclal Attlvltles once the charity has entitlement to the funds, It is probable that the income wlll be receNed and the amount can be measured rellablv. EXPENDITURE Liabilitie5 are reco8nlsed as expendSture as soon as there Is a legal or constructlve obligation crimmittlng the charlfy lo that expendlture, it is probable that a transfer of economlc beneflts wlll be requSTed In settlement and the amount of the obll8atlon can be measured reliably. Expenditure Ss accounted for on an accruals ba51s and has been classlfied under he3dln8S that ag8re8ate all cost related to ihe category. Where costs cannot be dlrethly attributed to partlcular headlng5 they have been allocated to actlvities on a basls conslstent wlth the use of resources. Grants offered subject to condltlons whlch have not been mel at the year end date are noted as a commltment but not accrued as expenditurè. GOVERNANCE COSTS Governance costs are accounted for on an accruals b351s. The ¢0st or Irrecoverable value added tax 15 Included wlth the Item of expense to whlch It relates. ALLOCATION AND APPORTIONMENT OF cosrs Costs are allocated on a pro rata basis against the Income of each fund. TAXATION The charity 15 exempt from tax on it5 charltable actlvlties. CASH AND CASH EQUIVALENTS Cash and cash equlvalents include Cash at bank and dep051ts held at call wlth banks and other thlrd parties. FUND ACCOUNTING Unrestricted funds can be used In accordance wlth the charitable objectives at the dlscretion of the trustees. Restricted fund5 can only be used for particular restricted purposes within the oblects of the charlty. Restrlrtlons arlse when specified by the donor or when funds are raised for partlcular restricted purposes. Further explanation of the natufe and purpose of each fund Is Included In the notes to the financlal statemenis. FINANCIAL INsfRUMENTS The charlty only has financial assets and Ilabllllie5 of a klnd that qualify as basic flnancial instruments. Baslc financial instruments are Inltially recogni5ed at transactlon value and subsequently measured at amortised cost. Page 7 continued..
THE NOEL 5WEENEY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 CRITICAL ACCOUNTING JUDGEME5 AND KEY SOURCES OF EImATIoN UNCERTAINTY In the application of the charlty'5 accounting polides, the tru5tee5 are requlred to make judgements, estimates and assumptions about the carrying amount of assets and liabilltle5 that are not readily apparent from other sources. The estlmates and underlylng assumptions are reviewed on an on80in8 basi5. Revision5 to accounting estlmates are recognbsed in the period in which the estimate Is revlsed where the revlslon affects only that period or in the period of the revision and future period5 where the revision affects both current and future perbods. GRANTS PAYABLE 2024 2023 Provislon of charltable grants 340.516 250,297 The tolal grants pald to InstltutlDns durSng the year was as follow5.. 2024 2023 st Baslls 42,500 20,500 10,000 10,000 io,oc 14,500 10,000 12,CX)O 18,LXIO 18,500 15,000 13,500 10,000 10,0 540 10,0 io,ooo 10,000 10,000 MHA Cornmunlties1South Staffs) Windmills Charlty Stoke on Trent and District Gln8efbrÈad Centre Spark Burntwood CIO Music Of Life Foundatlon Prlmitas Learning Partner5hlp Project Inltbatlve CIC North Staffs Carer5 Unlted Chlldrens Llver Disease Foundatlon Staftordshire Pathway Project Burntwood 8e A Friend Reachlng CIC Brl8htfutures Derby County Communlty Trust Father Hudson's Soclety Llbertyjamboree NAYC stronBbone5 Childrens Charltable Trust Teena8e Cancer Trust The Fun Club Hub Newllfe The Charlty For Disabled Chlldren 47 other grants of less than £10,000 each12023'. 141 I,0 15,000 10.000 10.000 10,OLKJ 10,000 10,000 23,IXIO 10,000 10,000 10,000 io.oty) 15,000 25,Otx) 130.976 35,797 340,516 250,297 Page 8 continued..
THE NOEL SWEENEY FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS- contlnued FOR THE YEAR ENDED 31 OECEMBER 2024 TRUSTEES, REMUNERATION AND 8ENEFITS There were no trustees, remuneratlon or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. TRUSTEES, EXPENSES There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. DEBTORS.. AMOUNTS FALLING DUE WtrHIN ONE YEAR 2024 2023 Other debtor5 16,765 CREDITORS., AMOUNT5 FALUNG DUE WITHIN ONE YEAR 2024 2023 Accrued expenses i.BOO 1,980 MOVEMENTIN FUNDS Net movement In funds At 31.12.24 At 1.1.24 Unrestrlcted fund5 General fund 248,102 1132,4921 115,610 TOTAL FUNDS 248,102 {132A921 115.610 Net movement In funds, included In the above are as follow5.. Incorrin8 resources Resources expended Movement In funds Unrestrlcted fund5 General fund 210,000 1342N921 1132N921 TOTAL FUNDS 210,000 13428921 1132,49zI Page 9 continued...
THE NOEL SWEENEY FOUNDATION NOTESTO THE FINANCIAL STATEMENTS- corrtinued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- contlnued Compar*ives for movement in funds Net movernenl in funds At 31.12.23 At 1.1.23 Unrestrlcted funds General fund 233,770 14,332 248,102 TOTAL FUNDS 233,770 14,332 248.102 Comparatlve net movement In fund5, Included In the above are a5 follows- Incomlng resources Re50ur¢es expended Movement in funds Unrestrlrted funds General fund 266,765 1252,4331 14,332 TOTAL FUNDS 266,765 1252,433 14,332 A current year 12 months and prlor year 12 months comblned posltlon15 a5 follows.. Net movement In fund5 At 31.12.24 At 1.1.23 Unrestrlded funds General fund 233,770 1118,1601 115,610 TOTAL FUNDS 233,770 1118,1601 115,610 A current year 12 months and prior year 12 months ¢omblned net movement In fund5, Included In the above are as follows: Incoming resource5 Resour$ expended Movement In funds Unrestrlcted fvnds General fund 476,765 1594,9251 1118,1601 TOTAL FUNDS 476,765 1594,9251 1118,1601 Page 10 continued..
THE NOEL SWEENEY FOUNDATION NOTESTO THE FINANcL STATEMENTS- continu FOR THE YEAR ENDED 310ECEMBER 2024 REiATED PARTY DISCLOSURES Tar Durin8 the year thÈ tharity received a donatlon of £85,00012023'. £141,765) from Tara Developments rnIted, a company in whlch the trustees, l R A Crabtreè and J E Caudle are alscl directors. Cameron Hom mlt During the year the charity received a donation of £50,CK)012023.' £50,000) from Cameron Homes Llmlted, a company In which the trustee, M D Holder 15 also a director. ULTIMATE CONTROLUNG PARTY The charlty Is under the control of the trustees. Page 11