OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-06-30-accounts

CIO no. 1195574 12043832

THE FIVE FOUNDATION LTD

(Charitable Incorporated Organisation no. 1195574)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

NfP Accountants Ltd

THE FIVE FOUNDATION LTD (Company limited by guarantee no. 12043832; registered charity no. 1195574)

REPORT AND FINANCIAL STATEMENTS for the year ended 30 June 2025

CONTENTS

Page
Legal and administrative information 1
Trustees' annual report 2
Independent Examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10

THE FIVE FOUNDATION LTD

(Company limited by guarantee no. 12043832; registered charity no. 1195574)

REFERENCE AND ADMINISTRATIVE DETAILS

for the year ended 30 June 2025

Trustees Thomas Ringrose
Sian Norris
Lucy Litwack
Secretary Lucy Litwack
Company no. 1195574
Charity reg. no. 1195574
Registered office 19 Passel House
2 Heartwood Boulevard
London
W3 6YT
Independent examiner Charles Ssempijja, FCA
NFP Accountants Ltd
3rd Floor, 86-90 Paul Street
London
EC2A 4NE
Bankers Natwest Bank
32 Market Street
Leigh
Lancs
WN7 1DX

1

THE FIVE FOUNDATION LTD (Registered charity no. 1195574)

TRUSTEES' ANNUAL REPORT for the year ended 30 June 2025

The trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their report with the financial statements of the charitable company for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

This document, prepared by the trustees, presents their report and financial statements for the year ending 30 June 2025.

The reference and administrative details on page 1 form part of the Trustees' Annual Report.

Compliance

The report and financial statements comply with the Charity's Memorandum and Articles of Association (mostly recently updated in 2021), the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice (FR102) for charities seeking to comply with the Financial Reporting Standard for the UK and Ireland. Income and expenditure have been analysed on a 'natural basis, taking advantage of sections 4.6 and 4.22-4.26 of this SORP.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Five Foundation Ltd, known as The Five Foundation, is a registered charity (1195574) and a limited company (12043832) in England and Wales. The charity's governing document is its Memorandum and Articles, incorporated 11 jun 2019 as amended by special resolution(s) dated 30 dec 2019, as amended by special resolution(s) dated 16 dec 2020, and as amended by special resolution registered at companies house on 16 aug 2021.

Objectives

2

THE FIVE FOUNDATION LTD (Registered charity no. 1195574)

TRUSTEES' ANNUAL REPORT

for the year ended 30 June 2025

In furtherance of that object but not otherwise, the trustees shall have power to engage in political activity provided that the trustees are satisfied that the proposed activities will further the purposes of the charity to an extent justified by the resources committed and the activity is not the dominant means by which the charity carries out its objects.

The Five Foundation is guided by Charity Commission recommendations and regularly consults its policies, webinars and guidance on a range of matters.

Principal activities

The foundation works at the systemic level to advocate for better funding streams to women on the African continent and beyond. We regularly convene donors, including foundations, bilaterals, high net worth individuals, senior government decision-makers, research organisations and the corporate sector, to change the way they fund evidence-based grassroots activism on the continent. In this sense, The Five Foundation uniquely operates as a hub for systemic change for African women and girls to achieve Global Goal 5.

Trustees

All trustees are directors of The Five Foundation Ltd and have full oversight of the charity. They have no conflicts of interest or relation to the charity apart from this.

An informal group of advisors are also consulted on an ad-hoc basis by email or phone. This group of women includes: Hodan Ali, Microfinance Expert, Dahabshiil, Somaliland; Juanita Draude, Chief Growth Officer, Publicis, Australia/UK; Janet Mbugua, Media personality and activist, Kenya; Dame Helena Morrissey, Financier and Founder, The 30% Club, UK; Professor Geeta Nargund, Founder, CREATE Fertility, India/UK, Alex Reid, former CEO of Comic Relief and Chief Communications Officer, Gates Ventures, UK/US; Isha Sesay, Media personality and former CNN Anchor, Sierra Leone; Lakshmi Sundaram, former Executive Director, Girls Not Brides, Switzerland; and Kirsten Walkom, Google, Canada.

The Five Foundation has one employee in the position of Chief Executive Officer. It also works with two independent consultants, who implement its activities.

The charity's Policy Manual is regularly consulted by the trustees and independent consultants. It is used as a reference for internal decision making including in relation to partners, risk management and conduct of its representatives.

Recruitment and induction of new trustees

The Five Foundation is always on the look out for new potential trustees, particularly from the African continent and based in areas of high prevalence of FGM. The process for doing this is to have an initial call with an existing trustee, and if suitable, a further call with all trustees and relevant members of staff. If they are a good fit, they should consult the Policy Manual and agree on a potential date to be formally inducted according to the Policy Manual.

Public benefit

The trustees confirm that they have complied with the duty under section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit and seek to meet The Five Foundation charitable purposes in following its objectives.

3

THE FIVE FOUNDATION LTD (Registered charity no. 1195574)

TRUSTEES' ANNUAL REPORT for the year ended 30 June 2025

Related party relationships

The trustees consider that the members of the board are the primary related parties of the charity. None of the Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee or staff of the charity and a contractor, supplier or customer to the charity must be disclosed to the full Board of Trustees. In the current year no such related party transactions were reported.

The trustees have identified no other related party relationships or transactions to report in the current year.

Pay policy for senior management personnel

The Chief Executive Officer's pay is reviewed at intervals. Remuneration is benchmarked against the range paid for similar roles with similar levels of experience.

Risk management

The Five Foundation's trustees have reviewed the major risks to which the charitable company is exposed. They have identified them and approved processes to mitigate these risks. These policies have been compiled into a regularly-consulted Policy Manual, which includes policies on risks relating to Anti Fraud, Bribery and Corruption, Political Activity/Neutrality, Impartiality and Diversity, Privacy, Working With Partner Organisations and Safeguarding. All work files relating to The Five Foundation are backed up on Google Drive, with trustee access.

Achievements and performance

During the most recent financial year, The Five Foundation continued to firm up its position as a global leader in partnership-driven advocacy and awareness of the need to end FGM - including through leveraging new sources of funding and other support. It communicated with partners through monthly MailChimp newsletters, on social media and in person on a regular basis. Its Policy Manual was referred to and updated during the year as part of an annual review of its content. The Five Foundation had major success in boosting the external profile, visibility and credibility of the organisation as a thought leader and authoritative voice on FGM - and the need to fund grassroots leaders on the African continent - in the media and at inperson and virtual events.

A key success of the past year was co-creating a Resource Bank of what works to end FGM. Working with 62 grassroots organisations, The Five Foundation has publicised this important online tool among its partnership, in the media - including an important opinion article in the British Medical Journal, this feature in The Sun and an opinion article in The Telegraph, and in various events, including in the House of Lords on February 6th, at Kings College London and in various other events in the UK and Kenya. Work has also begun with a partnership of Kenyan and Tanzanian organisation on integrating early childhood development principles into their work.

The Foundation has had particular success in supporting the African movement to end FGM, including on locally-led advocacy to prevent The Gambia from legalising FGM, and in Kenya and Tanzania on protecting thousands of girls at risk through funding secured as part of its flagship project, the HER Africa Funder Alliance.

4

THE FIVE FOUNDATION LTD (Registered charity no. 1195574)

TRUSTEES' ANNUAL REPORT

for the year ended 30 June 2025

The Five Foundation also continues to host an annual philanthropic summit to end FGM in London each year, inviting major funders from the sector to collaborate on addressing this urgent human rights abuse. This is part of the HER Africa Funder Alliance, which has engaged seven donors committed to ending FGM. The Foundation also hosts an advocacy and donor-facing event each year in Kenya and takes part in various other international events, aimed at elevating the profile of this drastically underfunded and ignored form of violence against girls.

Future plans

At least 230 million women and girls are affected by FGM around the world, with millions more girls potentially at risk between now and 2030. The Five Foundation's clear aim is to ensure FGM can be significantly reduced in the next five years - a major challenge considering the high levels of population growth in many of the countries, which have higher prevalence. Funding of grassroots leaders must be significantly increased. The Five Foundation's annual philanthropy summit is a key moment to leverage further support as part of the HER Africa Alliance. This will continue to be a primary activity of The Five Foundation going forward - including in December 2025, which will include a keynote by former Prime Minister of Iceland, Katrin Jakobsdottir. The Foundation recognises too that by supporting regular communication and updating our partners with information on grant opportunities, events and other advocacy opportunities, our partners and the women and girls they directly serve - have strengthened too. This has meant that they are now in a stronger position to potentially scale up their work - and collaborate with each other - to bolster further work to protect girls at risk of FGM in the coming years.

FINANCIAL REVIEW

The charity incurred net expenditure for the year of £13,291 (2024 - incurred net expenditure for the year of £97,720), details of which are shown in the Statement of Financial Activities on page 8. This brings the charity’s total funds to £89,146 (2024 - £102,437), £36,661 of which were unrestricted.

Total income for the year was £241,948 (2024 - £147,418). Total expenditure amounted to £255,239 (2024 - £245,138).

The principal sources of funding were trusts and foundations, individuals and corporations (2024 - the same). All income was used towards the objects of the charitable company.

Reserves Policy

The charity does not currently have a formal financial reserves policy.

Going Concern

The Trustees have reviewed The Five Foundation financial position and have a reasonable expectation that the Charitable company has adequate funds to continue in operational existence for the foreseeable future, and thus support the going concern basis in accounting in preparing the annual financial statements.

5

THE FIVE FOUNDATION LTD (Registered charity no. 1195574)

TRUSTEES' ANNUAL REPORT

for the year ended 30 June 2025

Trustees' responsibilities

Company and Charity Law requires the Trustees to prepare financial statements that give true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

Approval

This report was approved by the Trustees on …………………………………. and signed on its behalf by: 30/09/25

Lucy Litwack Trustee

6

THE FIVE FOUNDATION LTD

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 30 June 2025

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 June 2025.

Responsibilities and basis of report

As the charity’s trustees (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

Examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below) in connection with the examination which gives 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 order to enable a proper understanding of the accounts to be reached.

Disclosures

I understand that the financial statements have been prepared to give a 'true and fair' view, and have departed from the Charities (Accounts and Reports) Regulations 2008, only to the extent required to provide a 'true and fair view'. This departure has involved following SORP FRS102 (effective January 2019), rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005), which is referred to in the extent regulations, but has since been withdrawn.

Charles Ssempijja, FCA

NfP Accountants Ltd Chartered Accountants 86-90 Paul Street London EC2A 4NE Date: ………………………….

7

THE FIVE FOUNDATION LTD (Company no. 12043832, charity no. 1195574)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) for the year ended 30 June 2025

Unrestricted
Funds
Notes
£
INCOME FROM
Trusts and foundations
70,000
Corporate donations
20,515
Individual donations
436
TOTAL INCOME
90,951
EXPENDITURE ON
Staff costs
Gross salaries
3
37,400
Employer NI
3
8,036
Employer pension
3
9,100
Health Insurance
1,789
Overseas consultancy costs
54,245
Direct costs
Grants payable
34,296
Events and meetings
-
Travel & subsistence
7,425
Fundraising costs
-
Support costs and overheads
Premises costs
1,800
Independent examination
1,020
Statutory audit
-
Other costs
1,616
TOTAL EXPENDITURE
156,727
(65,776)
NET MOVEMENT IN FUNDS
(65,776)
TOTAL FUNDS AT 01 JULY
102,437
TOTAL FUNDS AT 30 JUNE
36,661
Net expenditure before transfers		 Restricted
Funds
£
150,997
-
-
150,997
27,600
-
-
-
38,507
8,768
-
22,838
-
-
-
-
799
98,512
52,485
52,485
-
52,485		 Total Funds
2025
£
220,997
20,515
436
241,948
65,000
8,036
9,100
1,789
92,752
43,064
-
30,263
-
1,800
1,020
-
2,415
255,239
(13,291)
(13,291)
102,437
89,146		 Unrestricted
Funds
£
1,500
2,581
1,670
5,751
-
-
-
-
27,490
-
8,538
15,298
23,273
2,406
-
4,900
1,928
83,833
(78,082)
(78,082)
180,519
102,437		 Restricted
Funds
£
141,667
-
-
141,667
65,000
7,715
8,721
-
40,365
39,504
-
-
-
-
-
-
-
161,305
(19,638)
(19,638)
19,638
-		 Total Funds
2024
£
143,167
2,581
1,670
147,418
65,000
7,715
8,721
-
67,855
39,504
8,538
15,298
23,273
2,406
-
4,900
1,928
245,138
(97,720)
(97,720)
200,157
102,437

All incoming resources and outgoing resources derive from continuing activities.

The annexed notes form part of these financial statements

8

THE FIVE FOUNDATION LTD (Company no. 12043832, charity no. 1195574)

BALANCE SHEET As at 30 June 2025

Notes
CURRENT ASSETS
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
2
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted funds
6
General fund (unrestricted)
6
TOTAL FUNDS		 2025
£
150,608
(61,462)
89,146
89,146
£
52,485
36,661
89,146
**£ **		 2024
£
167,692
(65,255)
102,437
102,437
_£ _
-
102,437
102,437
_£ _

For the year ended 30 June 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476;

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102, edition October 2019, effective 01 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

They were approved, and authorised for issue, by the Trustees on …………………………………. 30/09/25 and signed on their behalf by:-

Lucy Litwack Chair

The annexed notes form part of these financial statements

9

THE FIVE FOUNDATION LTD (Company no. 12043832 and charity no. 1195574)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2025

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the 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 of Ireland (SORP FRS 102) (edition October 2019, effective January 2019), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Income and expenditure have been analysed on a 'natural basis, taking advantage of sections 4.6 and 4.22-4.26 of the SORP.

The effect of events relating to the year ended 30 June 2025 which occurred before the date of approval of the financial statements by the Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 30 June 2025 and the results for the year ended on that date.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following SORP 2015 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (SORP 2005) which has since been withdrawn.

The charitable company is a public benefit entity within the meaning of FRS 102.

Going concern

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Key judgements that the charity has made which have a significant effect on the accounts include estimating income and expenditure for the next 12 months.

Statement of Cash Flows

The Company has taken advantage of the exemption conferred by Section 1 of FRS102 in relation to the Statement of Cash Flows.

Income

All incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. Grants which have a restriction as to timing are recognised over the period for which they are given.

The value of services provided by volunteers has not been included in the accounts.

10

THE FIVE FOUNDATION LTD (Company no. 12043832 and charity no. 1195574)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2025

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Statutory grants which are given as contributions towards the Charity's core services are treated as unrestricted.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All the expenditure of the charity is in the furtherance of its charitable activities and includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.

Irrecoverable VAT is included in expenditure as part of the gross cost of items. Where VAT is recoverable, expenditure is shown net of this VAT.

Basic financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

11

THE FIVE FOUNDATION LTD (Company no. 12043832 and charity no. 1195574)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2025

Creditors and provisions

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.

2. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social security and other taxes
Accruals
Deferred grant income		 2025
£
2,109
1,020
58,333
61,462
**£ **		 2024
£
2,002
4,920
58,333
65,255
_£ _

3. STAFF COSTS AND NUMBERS

Unrestricted
Funds
2025
£
Gross pay
65,000
Employer NI
8,036
Employer pension
9,100
TOTAL STAFF COSTS
82,136
**£ **		 Restricted
Funds
2025
£
-
-
-
Nil
£		 Total
Funds
2025
£
65,000
8,036
9,100
82,136
**£ **		 Total
Funds
2024
£
65,000
7,715
8,721
81,436
_£ _

The average weekly number of staff in the year (headcount) was 1 (2024 - 1). That key management staff member received total remuneration of £65,000 (2024 - the same).

One employee received remuneration between £60,000 to £70,000 (2024 - the same).

In addition to the single salaried staff, the charity also had a management consulting staff at the same level of pay and pension benefit as above.

12

THE FIVE FOUNDATION LTD (Company no. 12043832 and charity no. 1195574)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2025

4. TRUSTEES

No Trustees were reimbursed for out of pocket expenses during the year (2024 - Nil). No Trustees were paid for reimbursed expenses (2024 - the same).

5. CORPORATION TAX

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

6. STATEMENT OF FUNDS

2025
Restricted funds:
CIFF
Hilton
Total restricted funds
Unrestricted fund
Total funds
2024
Restricted funds:
Firebird Foundation
Oak Foundation
New Venture
Total restricted funds
Unrestricted fund
Total funds		 Brought
Forward
£
-
-
-
102,437
102,437
£
Brought
Forward
£
-
17,474
2,164
19,638
180,519
200,157
_£ _		 Incoming
Resources
£
77,604
73,393
150,997
90,951
241,948
£
Incoming
Resources
£
25,000
116,667
-
141,667
5,751
147,418
_£ _		 Resources
Transfers &
Expended Gains / Losses
£
£
(69,346)
-
(29,166)
-
(98,512)
-
(156,727)
-
(255,239)
£
Nil
£
Resources
Transfers &
Expended Gains / Losses
£
£
(25,000)
-
(134,141)
-
(2,164)
-
(161,305)
-
(83,833)
-
(245,138)
£
Nil
£		 Carried
Forward
£
8,258
44,227
52,485
36,661
89,146
**£ **
Carried
Forward
£
-
-
-
-
102,437
102,437
_£ _

13

THE FIVE FOUNDATION LTD (Company no. 12043832 and charity no. 1195574)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2025

7. ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025
Current assets
Creditors due within one year
2024
Current assets
Creditors due within one year		 General
Funds
2025
£
98,123
(61,462)
36,661
£
167,692
(65,255)
102,437
_£ _		 Restricted
Funds
2025
£
52,485
-
52,485
£
-
-
Nil
£		 Total
Funds
2025
£
150,608
(61,462)
89,146
£
167,692
(65,255)
102,437
_£ _		 Total
Funds
2024
£
167,692
(65,255)
102,437
_£ _

8. OPERATING LEASE COMMITMENTS

The charity has no operating leases to report.

9. OTHER LEGAL INFORMATION

The Five Foundation Ltd is a charitable incorporated organisation, registered with the Charity Commission in England and Wales, registration number 1195574. Its registered office address is 19 Passel House, 2 Heartwood Boulevard, London W3 6YT.

14