The Abstract Foundation Annual Re ort and Financial Statements Ih For the year ended 30 March2025 Registered Charity Number: 1196234
The Abstract Foundation111962341 Le al and Administrative Information Trustees Mr M L Glatrnan Mrs S Miles Mrsj L Ropner Charity Number 1196234 Prlnclpal Address 10 Rose and Crown Yard Kin8 Scree( London 5W1Y 6RE Independent Examlner Deborah Fletcher-mcvay FCA Xeinadin Trinity House Thurston Road Norchallerton North Yorkshire DL6 2NA Bankers Coutts & Co St Martins Office 440 Strand London WC2R OQS Year Ended 30" March 2025
The Abs(ract Foundauon111962341 Contents Trustees, Annual Report Sratement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activiries Balance Sheet Statement of Cash Flows 10 Notes to the Financial Statements 11-16 Year Ended 3trh March 2025
The Abstratt Foundation111962341 Trustees, Annual Re ort For the period 31" March 2024 to 30'- March 2025 The financial 5totements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the chariW5 constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wi(h (he Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 2019). Objectives and Activities The Foundation aims to improve the lives of young people aged O to 30 in the UK. in a significant and lasting way. We achieve this by bringlng together donors so can provide funding ro support the work of outStandin8 organisations. The objects of the CIO are to advance such charitsble purposes {according to the law of England and Wales) as the trustees see fit from rime to time. in parcicular, but not limited (o- Advancing the education lincluding social and physical training) of young people for rhe public benefit. in such ways as the charity trustees think fit, in particular, but not exclusively, by providing grants to individuals In need andlor organisations that support such people,. and Advancing in life and relieving rhe need5 of young people, In such ways as the charity trustees think fiL in particular, bui not exclusively, by providing grants to support activities which develop their skills, capacities and capabilities to enable them to participate in society as marure and responsible Sndivlduals. The trustees have had regard to the Charity Commission guidance on public benefit. Grant Maklng We have carried out our objetts by providing both unrestricted and restricted grants to organlsatlons who work with and support young people. The Foundation has a Grant Makin8 Pollcy which outlines the principles, criteria, and processes which we apply when awarding grants. r Prioritie Improving young people's access to career development and trainin8 Opportunities, including apprenticeship5. which will help them to improve their life chances, find employment or start a business., Improvlng young people's physical. mental or emotional wellbeln& Improving young people's skills. capacities and capabilities to enable them to participate in society as independent. mature and responsible individLsals.' Supporting young people who are experiencing or at risk of homelessnes5. OurA ch to Grant M kln We want to apply best practice in our granr making and we endeavor to be as supportive and flexible as possible for our grantees. Where possible. the grants we make are unrestricted. or only lightly restricted {e.g. requiring them to be spent within a specific timeframe). We have regular contact with our grantees and request annual reports from them about the activities and outcomes which we have supported. Ifwe award an unrestricted grant. we look at the overall activities and results of the organisations we have funded. We use our network of donors and contacts to provide grantees with additional support and resources. Year Ended 30" March 2025
The Abstracr Foundaiion111%2341- Trustee¥ Annual Repon Achievements and Performance Educatlon Netherhall School - £500.000 over 4.5 years12022-2026) We continued our multi-year funding agreement with Netherhall School in Cambridge, to deliver two core programmes. and we are very pleased with the progress made wilh both of these. I ntegrate- creating and delivering a free programme of support and information for families rhroughout a studenys educational life. via online content and in-person events. The project has continued to be a great success with sustained interest from parents across a broad range of topics. They have successfully registered an independent charity to ensure the work can continue, and expand. beyond the end of our funding agreement. The charity has already successfully applied for funding from other sources. I nnovate creating and delivering a distinct pathway. tailored towards students who experience barriers to engagement with Iraditional curriculums. This project has also continued to be a great succe55. Wlth engagement and behaviour improving for nearly all students. We, and the school, are confident that this programme will help young people to find employment. improve their life chances and develop the skills they need to participate in, and contribute to. society. The programme has created a number of additional opportunities and lead to broader changes across the school. One panicularly notable result of these changes is that they have reduced exclusion events from 280 2 years ago. to O rhis year. Y uth H¢Lmel ssn We have several ongoing Youth Homelessness projects.. February 2024 - Rush House - £250.000 of unrestrlcted funding over 3 years, to be spent within S years. February 2024- Safe and Sound Homes- £150,000 ofunrestricted fundingto be spent within 3 years. February 2025- Park Lodge Project- £500.000 to fund their Employed and Supported Project. We have had regular contart with granfees over the course of the year, and we are thrilled with the impact our8rants are having on iMpronE the lives ofyoung people. Park Lodge Project- £500.000 for thelr Employed and Supported Project The grant has been used to buy and furnish a 5 bedroom house. which accommodates young people who are ready to Stan work. but who aren't ready to live independently. with the aim of ensuring they can transition to. and sustain. long-term employment and independence. The House was opened in November 2024. and, in the short time since. it has already been transformational,. several young people have successfully moved on to independent accommodation whilst maintaining their employment. The grant has also allowed Park Lodge to employ a member of staff to support young people living in the Employment House, and for a period of time after they move on. In addition to thi5, she provides Education, Employment and Training support to young people throughout the organisation, with a focus on ensuring they stay engaged with education and helping them prepare for employment opportLJnilies The Employmenr House is having a positive impartacross the organisarion, byshowingyoung people rhar work is a financially 5UStainable op(ion which can help them get on the next step of the ladder. There is significant demand for rooms in che house and many more young people are now motivared to look for, and engage in. employment. Year Ended 30th March 2025
The Abstract Foundation111962341- Trustee¥ Annual Report Rush House - £250.000 of unrestrirted funding over 3 years. to be spent within 5 years The grant has allowed Rush House to hire a Life Skills Manager to improve the support young people receive. and a Business Development Manager to help them expand their propety portfolio 50 they can support more young people. They have secured a further 20 bed spaces in Rotherham for homeless young people. Our funding has allowed them to invest in these properties to ensure they are offering safe, clean and fully furnished accommodation. They have hired a new Tenancy Skills Coach ro continue developing their pre-tenancy training. Their client base for this resource has grown significantly and 356 people successfully completed Ihe training this year. They also continuecl delivering their AQA offering and In the lasr year they awarded 98 AQA certificates ro 42 differenc young people. To supplement this work, they have partnered with a local training provider to provide acces5 to more formal qualifications and certificates. specifically focused on preparing people for the world of work. The grant has allowed them to expand the activities they provide to help young people improve their confidence. social ski115. and wellbeing. A few highlights of the last year include regular round the world cooking sessions. self-care Sundays and, art-based sessions. Safe and Sound Homes (SASHI- £150.000 of unrestrlcted fundlng to be spent wlthln 3 years This year, SASH has provided 9,419 bed nights to 179 unique young people,. this include5 122 young people who were provided with emergency accommodarion and 44 who were provided with longer-term accommodation113 young people used both service51. The grant has allowed them to invest significant rime in Improving and expanding their enhanced 5upporr programme which mean5 young people can access more personalised support and guidance. As part of this work, they have successfully developed and launched an app which allows young people to book appointments with their Placement Coordlnator, as well as to view and book coun5elling services. life skills modules and other activities. They used targeced recruitment campaigns to successfully recruit 10 new hosts, meaning they have increased capacity to supporr young people facing homelessness. Di ital Wellbeln We identified rhe impact of social media and the internet on young people's mental health, or, more conc15ely, "di8ltal Wellbein as the focus for our second fundin8 round. This is a complex and fast changing issue. which requires specialist expenise. significanr resources, and a wide network of connections. Following extensive research. we decided that the best way to rnaximise the impact of our funding was to allocate all funds raised in this round to Childnet. Childneys core rnission is to make the internet a safe and great place for children acros5 the UK. Their work is highly regarded and used by Schools. parents and carers, children. che tech industry, government, the police, charities and more. They are at the forefront of improving children's online safety. and, despiie a relativelymodestannual income. they reach tens of thousand5 of young people every year. Shortly before the enol of the financial year, we awarded Childnet an unrestricted grant of £200.000. Financial Review Income for che year wa5 £164.23612024: £329.8701. This includes £25,00012024.' £0) received from Mark Glatman, and £100.000 12024.. £250,000) from other individual and corporate donors. Our overhead costs were £13.911 12024.. £15.2711, wthich IMII be covered by cornbinatlon of an unrestricted donation received from Absrract Securities Limited IASLI. and bank interest. We made one new granc of £200,000 this year12024'. £5,100).- we did not make any new multi-year funding commitments12024= £500.0001. Year Ended 30 March 2025
The Abstratt Foundation111962341- Truste Annual Report ASL is committed to providing unrestri(ted funds to cover our overheads costs. This mean5 that 10096 of donations received from other donors. and 100% of resrri(ted fund5 received from ASL, go to grant recipients. Risk Management The trustees have considered the major risks to which the Charity is exposed. and they have policies, systems and procedures in place to mitigate them. Our principal operational risk is the extent to which the grants we award succeed in funhering our charitable objects. We manage this risk by conducting extensive due diligence and research in(0 organi5ations before we award them with fundin& and, where necessary, seeking advice from people and organisations with relevant experrise. Fundraising The Found6iion did not use online fundraising platforms and dld not engage professional fundraisers or other commercial organisations to fundraise on its behalf. Donations were generated from organisations and individuals with direcf con(act with the trusrees. Reserves At 30th March 2025, the Foundation held a total of £68,771 in funds (2024: £118,446), of this £71,796 is restricted12024: £111,716). wirh a deficit of £3.025 in unrestricted funds12024'. £6.7301. Given that The Abstract Foundation was set up as a demonstration of rhe commitment of our main corporate funder {Ab5tract Securities Limitedl to our charitable obJectS, the rrustees have decided there is a relatively low risk of losin8 funding in the near fu(ure and therefore only a low level of reseNes is needed. Our aim is to maintain approximately 3 months, worrh of running costs as unrestricted reserves1= £10,000). Our agreement with ASL requires them to provide us wilh 3 months. notice to end our partnership.. we therefore believe this will provide us with sufficient funds to ensure support and governance costs are covered whilst we secure alternative funding andlor fulfil any existlng obligation5. An unrestricted donation of £1 5.000 was received from ASL shortly after the year end. Plans For Future Perlods We have Sensed rhar. for a number of our donors, the last year has been a challenging time for their businesses. We therefore paused our fundraisin& but we are hopeful rhat this year. economic conditions are starting to improve and that fundraising will be more positive. The Trustees intend to spend some time discussing potential areas for future support. Structure. Governance and Management Governln Document The chariiy Is governed by its Constitution dated 21.10.2021. and constitutes a Charitable Incorporated Organisation Ifoundaiion structure). Recruitment ond A ointment o Truste The governing document provides for a Board of Trustees which consists of up to seven persons. Trustees are appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In 5eletting individuals for appointment as charity trustees, the charity trusrees have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Year Ended 30, March 2025
The Abstract Foundation111962341- Trusiees'Annual Report Trustee Induction and Troinin New trustees receive an induccion to prowde them with relevant background information and inform them of their obligations under charity law. During this induction. they are provided with a copy of the constitution, a copy of the latest Tru5tees' Annual Report and Statement of Accounts, and a copy of the Policy and Governance Handbook. Trustees are encouraged to attend relevant external training events. ani ional Stru ure The Board of Trustees is responsible for overall governance of the charity. They communicate regularly and meet as required throughout the year. A Consultanr is engaged to assist the trustees with the day-to-day operations of the Foundation. l ed Portles Abstract Securities Limited (Company Nol 039499901 is a key donor to The Abstract Foundation. Mark Glatman is a director and person with significant control. and Stephanie Miles is a director. There is clear Memorandum of Understanding which provides a framework for the relationship. The Parties acknowledge and agree that where any crustee of the Foundation is also a director or employee of Abstract Securities Limited, that trustee shall ensure that they avoid any conflicts of Interest and acr in good faith for the Foundation and its beneficiaries. Further details of related party transactions can be found in note 13 to the accounts. Reference and Adminlstrative Detalls Reg15tered Chorlty Number- 1196234 PrlnclpulAddres5 - 10 Rose and Crown Yard. Kin8 Streer. London, SWI Y 6RE Trustees Mr M L Glatman Mrs S Miles Mrsj L Ropner ehalfof the Board ofTrustees of The Abstrart Foundation Chair of Trustees Date.. Year Ended 30" March 2025
The Abstracr Foundaiion111962341 Statement of Trustees, Res onsibilities For the period ended 30" March 2025 The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance wirh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial Statements for each financial year which give a true and fair view of the state of affair5 of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP.. make judgements and estimates that are reasonable and prudent.. stale whether applicable accounting standards have been followed. subject to any material deparcures disclosed and explained in the financial statement5,' and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will concinue in operation. The trustee5 are responsible for keeping sufficienr accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement5 comply with the Charicies Att 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 irregularicies. Year Ended 30 March 2025
Inde endent Examiner's Re ort To the Trustees of The Abstract Foundation I report to the trustees on my examination of the financial statemenrs of The Abstract Foundation for che year ended 30 March 2025. Res onsi Ilities ond iso As the Irustees of the Charity. you are responsible for the prepara(ion of the financial statements in accordance with the requirements of the Charitie5 Act 2011 (the 2011 Art). I report in respert of my examination of the tru5fs financial statements carried out under settion 145 of che 2011 Act. In carrying out my examination I have followed all the applicable Direcfions given by the Charity Commission under sertion 14515llbl of the 2011 Act. In en li Your atteniion is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reponing Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounilng and Reporting by Charitie5.' Statement of Recommended Practice issued on 1 April 2005 which is referred to in (he exianl regulations bu¢ has now been withdrawn. l understand that this has been done in order for financial statements to prowde a true and fair view In accordance with GenerallyAccepted Accounting Pracrice effective for reporting periods beginning on or after l January 2015. I have completed my examination. I conflrm that no materlal matters have come to my attention In connection with the examination siving me cause to believe that In any malerial respeci.. the accounting records v*re not kept In respett of the trust as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records.. or the financial sratements do not comply with the applicable requirements concerning the form and conlenr of accounts set out in the Charifies IAccounts and Report51 Regulations 2008 other than any requirement that the accounts give a true and fair view which is no( a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with (he examination 10 which attention should be drawn in this report in order to enable a proper understanding of the financial Statements to be reached. SIGNED DATE Deborah Fletcher-mcvay FCA Xeinadin Trinity House Thursron Road Northallerton North Yorkshire DL6 2NA Year Ended 30 Marth 202S
The Abstraa Foundation111962341 Financial Statements statement of Financial Activities (including Income and expenditure acc04Jntl Year Ended 30" March 2025 2025 2024 otes Unr•strlcted Funds R¢strlcted Funds Total Funds Unrestrl¢¢ed fte5trlcted Funds Funds Total Funds INCOMEFAOM.. Donations and GSfts 156.250 156.250 317,600 317,600 Interest Receivèble 65 7.921 7.986 254 12,016 12,270 TOTAL INCOME 65 164.171 164,236 254 329.616 329.870 EXPfNDITUItE ON.. Charlt•ble Artlvl¢les Educailon 2.909 764 5.100 S.864 Youth Hornelessness 5,759 4.091 9.850 14,207 500,300 514,507 0I8ltal Wellbelng 1.152 200,000 201.152 Total Charltable Exp•ndltur• 9,820 204,091 213,911 14.971 505.400 520,371 TOTAL EXPENDITURE 9.820 204.091 213.911 14.971 505.400 S20,371 Not IncomelMo¥ement In Funds 19,7551 139.9201 149.6751 114.7171 {175.7841 1190,5011 Toral Funds 8rou8hi Forward 6.730 111.716 118.446 21,447 287,500 308,947 Tot*1 Fund5 Carrled Forward (3.0251 71.796 68.711 6.730 111.716 118.446 The statement of financlal actlvities Include5 all 8ains and losses recognlsed In the perlod. All income and expenditLsre derive from continuing actiwties. Year Ended 301h March 2025
The Ab5tratt Foundation111962341- Financial Stsiement5 B lance heet As at 30" March 2025 Notes 2025 Funds 2024 Funds CURRENT ASSETS.. Debtors 7.108 3.436 Cash at bank and in hand 447.424 985.985 TOTAL CURRENT ASSETS 454.532 989.421 Credltor5: amount5 fallln8 due wlthin one year 1385.7611 1770,9751 Net current assets: 68.771 218,446 Credltors: amounts falllnB after more than one year 1100,0001 NET ASSETS: 68.771 118.446 Income Funds.. Restricted funds.. 71.796 111,716 Unrestricted funds.. 13,0251 6,730 TOTAL FUNDS: 68,771 118.446 The financial statements were approved by the Board of Trustees on 26 January 2026 and were signed on its b Mrm Chalr of TrStee$ The note5 form part of these financial statements. Year Ended 30" March 2025
The Abstract Foundation111962341- Financial Statements Statement of C h Flows For the period ended 30, March 2025 Notes 2025 2024 Cash flows from operatln8 artivities: Cash generaied from/labsorbed by) operations 14 1546.5471 252.673 Investment artlvltle5: Investment income recesved 7,986 12,270 Net cash generated fromllused In) Investlng artlvltles 7,986 12,270 Net cash used In flnanclng actlvltles Net Increase In cash and cash equlvalents 1538,S611 264,943 Cash and cash equlvalentS at beginning of period 985,985 721,042 CASH AND CASH EQUIVALENTS AT END OF PERIOD 447.424 985,985 Year Ended 30 March 2025
The Abstract Foundation11196234} Notes to The Financial Statements l. Accounting Policies The Abstract Foundation is a charitable incorporated organisation established by a constitution and registered with the Charity Commission. The principal place of business is 10 Rose and Crown Yard. King Street. London, SW1Y 6RE. Re ortin Peri The charity accounts cover the period from 31 March 2024 to 30 March 2025. 1.2. Accountin Convention The financial siaiemencs have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 Yhe Financial Reponing Standard applicable in the UK and Republic of Ireland" I'FRS 102.) and che Charities SORP "Accounting and Reporring by Charities.. Statement of Recommended Practice applicable to charities preparing their accounfs in accordance with rhe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffeccive I January 20191. The charity is a Public Benefit Encity as defined by FRS 102. The financial statements 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 the Statement of Recommended Prattice for chariries applying FRS 102 rarher than the version of the Statement of Recommended Praaice which is referred ro in the Regulations but which has since been wlthdrawn. The financial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these financial s(a(ements are rounded (o the nearest £. The financial statements have been prepared under rhe his(orical cost convencion. The principal accounting policies adopted are set our below. Goln rn At the lime ol approving the financial stafements. the trustees have a reasonable expectarion that the charity has adequate resources to continue in operational existence for the foreseeable future and are not aware of any material uncertainty about the Foundation's ability (o continue. Although the unrestricted funds balance was negative at the year end, we received an unrestricted donation of £1 S.000 shortly after the year end from our main corporate funder (Abstract Securities Limited."ASL"l. Furthermore. we have an agreement with ASL which requires them to provide us with 3 months, notice to end our partnership,. and we have received reassurance that they intend to continue supporting the chariry. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. haritable Funds Unrestricced funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restritted funds are set out in the notes to the financial statements. Year Ended 30, March 2025
The Abstrart Foundation111962341- Notes to the Financial Ststements 1.5. Income Income is recognised when the charity is legally enticled to it after any performance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity ha5 been notified of the donation, unless performance conditions require deferral of the amount. Incorne tax recoverable in relation to donations received under Gift Aid or deed5 of covenant is recognised at the time of the donation. 1.6. Ex en Expendiiure Is recognised once there is a legal or con5trurtive obligation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in sectlement. and the amount of the obligation can be measured reliabty. Expenditure is classified by attivity. The costs of each artiviry are made up of the total of direct costs and shared costs, including support costs. involved in undertaking each actlvlry. Direct cost5 attributable to a single acrivity are allocared directly to that aaivity. Shared costs which contribute to more than one activity. and support cosis which are not attribucable to a single activity, are apportioned between those artivities on a basis consistent with the use of resources. uiv Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less. The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitys balance sheet when the charity becomes parry to the contractual provisions of the instrument. Financial assets and liabilities are oftser. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial asseis. which include debtors and cash and bank balances, are initialty measured at transaction price including transaction costs and are subsequently carried at amorrised cost Using the effective interest method. Financial assets classified as receivable within one year are not amortised. Basic flnanclal Ilabllltles Basic financial liabilitie5, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Year Ended 30th March 2025
The Abstract Foundation111962341- Notes to the Firtancial Sratements 2. Charitable Activities Grant Funding 2025 Support Costs 2025 Grant Fundlng 2024 Support Costs 2024 Total 2025 Total 2024 Education 2.909 2,909 5.100 764 5.864 Youth Homelessness 9.850 9.850 500,000 14,507 514,507 Digital Wellbeing TOTAL 200.0 1,152 201.152 200,000 13.911 213.911 505.100 15.271 520.371 Analysls by fund Unrestricted Funds 9,820 9.820 14.971 14.971 Restricted Funds 200.000 4.091 204,091 505,100 300 505,400 TOTAL 200.000 13.911 213,911 505.100 15,271 520.371 3. Grants Payable The charity made one new material grant to ChlldneL Further information is provided on page 3 of the Trustees, Annual Report. 2025 2024 Recl lent Artlvl The Outdoor Guide Foundation Education 5,100 Park Lodge Proiett Childnet Youth Homelessness 500,000 Digital Wellbeing 21)O,OQKI TOTAL 200.000 505.100 The value of grants to individuals was £012024.. £0). 4. Support Costs 2025 2024 Insurance 998 962 Consultancy Bank Charges Governance 7.195 9.793 616 1.140 3,600 Professional Fee5 4.091 300 TOTAL 13.911 15.271 Governance costs include payment to ihe Independent examiner of £7,140 {2024.' £3,600 for audit fees). Year Ended 30" March 2025 13
The Abstract Foundation111962341- Notes to the fvnarscial 5tatemenrs 5. Trustee Renumeration and Benefits None of the trustees lor any persons connetted th them) received any remuneration or benefits from the charity durins the period. 6. Employees The average monthly number of employees during the period was 012024.. 0). 7. Taxation The charity is exempt from tax on income and gains falling Nviihin sertion 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 115 charitable objects. 8. Debtors 2025 2024 Amounts falllng due wlthln one year Interest Receivable 858 3.436 Gift Aid Receivable 6,250 TOTAL 7.108 3.436 9. Creditors (amounts falling due within one yearl 2025 2024 Amounts falllng due wlthln one year. Grants Payable Accruals and Deferred Income 383,0 766.000 2,761 4,97S TOTAL 385.761 770.975 Grants payable includes £200,OCh) commirted to Childnet 12024.. £01. £100,WO committed io Netherhall School12024.' £100,000) and £83.OCKJ committed to Rush House Limited {2024= £166.0001. The commitments will be funded from donations already received. 10.Creditors (amounts falllng after more than one year) 2025 2024 Amounts falllng due after more than one year: Grants Payable 11)J.000 TOTAL 100.IXIO Year Ended 3U March 2025 14
The Abstratt Foundation111962341- Noies io the Financial Statements 11. Restricted Funds The income funds of the charity include rescricted fund5 comprising the following unexpended balances of donations and grants held on trust for specific purpose5- Ye•r Ended 30th Alurch 2025 Opening Incoming Resources Funds Resources Expended Transfers Closing Funds Education 3,615 2.303 5.918 Youth Homelessness 108.101 5,445 14,091) (50,0001 59,455 Digital Wellbeing TOTAL 156.423 2C(J,(K 50.000 6,423 111.716 164.171 (204.0911 71.796 Ymr Ended30th Ilor¢h 2024 Openlng Incomlng Resources Funds Resources Expended Transfers Closlng Funds Educatlon 8.715 15.1001 3,615 Youth Homelessness 287.500 320,901 ISQKI,3001 108,101 TOTAL 287.500 329.616 1505,400) 111.716 12. Analysls of Net Assets Between Funds Unrestrlrted Fund$ Restrlrted Funds Total Fund bolcnces at 30 Alorch 2025 ore represented br Current Assets/lLiabilitiesl (3,0251 71,796 68.771 Long Term Liabilities TOTAL 13.0251 71.796 68.T11 Unrestrlcted Fund$ Restrlcted Funds Total Fund bolontes ot 30 March 2024 were represented b Current Assetsl{Liabilitiesl 6,730 211,716 218,446 Long Term Liabilities 1100,0001 1100.0001 TOTAL 6.730 111.716 118.446 Yeèr Ended 30lh March 2025 15
The Abstract Foundarion111962341- Notes to the financial Ststements 13. Related Party Transactions During the year. the Foundation received a donation of £25.000 from Mark Glarman. Last year. the Foundation received a donation of £5.100 from Abstrart Securitie5 Limiced. a company in which Mark Glatrnan is a direttor and a person with significant control and Stephanie Miles 15 a direcror. Further information is provided in the Trustees. Repor(. 14.cash Generated from Operations 2025 2024 Surplus I (Deficill for rhe Year (49.6751 1190,5031 Adjustments for: Investment Income Recognised in Statement of Financial Artivities 17.9861 112,2701 Movement5 In Worklng Capltal: Ilncreasel l Decrease in Debiors (3.6721 55,544 Increase I (Decrease) in Creditors 1485,2141 399.900 CASH GENERATED FROM / (ABSORBED BY) OPERATIONS 1546.547) 252,673 IS. Analysis of Changes In Net Funds / (Debt) The charity had no debt during the year. Year Ended 3U' March 2025