Charity number.. 1196369 Foundation Home Unaudited report and financial statements For the year to 31 December 2023 Foundatlon Home Contents For the year to 31 December 2023 Reference and administrative information Trustees, annual report Statement of financial activities (incorporating an income and expenditure account) Balance sheet Notes to the financial statements Foundatlon Home Reference and admlnlstratlve Informatlon For the year to 31 December 2023 Charlry number Counrry of reglsiratlon 1196369 England & Wales Reglstered offlce and operational address 6 Trull Farm Buildings Trull, Tetbury Gloucestershire, GL8 8SQ Trustees Trustees who served during the year and up to the date of this report were as follows.. Andrew Barnes Retired 31 &fJuly 2024 Catherine Mccrohan Retired 31 &t July 2024 Rev Niall Weir Retired 315tJuly 2024 Jon Sopher Appointed 30th July 2024 Dom Hawes Appointed 30th July 2024 Laurenr van Bekkum Appointed 30th July 2024 Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4TA Unity Trust Bank PO Box 7193 Planetary Road Willenhall WVI 9DG Foundatlon Home Trustees, annual report For the year to 31 December 2023 The trustees present their unaudited report and the financial statements for year to 31 December 2023. Reference and administrative informatloll set out on page I forms part of this report. The financial 5tatement5 comply with current statutory requirements, the charity'5 trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charitie5.' SORP applicable to charities preparing their accounts in accordance with FRS 102. Objectives and activities Purposes and aims The objects of the CIO are such objects and purposes in any part of the world as are exclusively charitable in accordance with the laws of England and Wales. The Charity has furthered its charitable objects during the year by investigating the grant making and almshouse sectors to see how it can best serve and support them. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. Achievements and performance During this financial year, the Charity has had no financial transactions but has identified a number of potential donors with whom it hopes to work in the future. The Charity has received pro bono governance. administration and accounting support from The Trust Partnership Ltd. Foundation Home acted as a corporate trustee of an almshouse, The Hopkins and Sneyd Almshouse Charity. between 22nd March 2023 and 15th August 2024 in furtherance of its charitable objects. Financial review Other than in kind support, the Charity received no income and incurred no expenditure in the period under review and held no unrestricted or restricted funds at the end of the financial period. The trustees are considering the development of funding sources for the future. Principal risks and uncertainties The trustees keep u nder review the major operational and strategic risks the Charity faces and are satisfied that systems have been established to minimise the possible effects of such risks on the Charity. Foundatlon Home Trustees, annual report For the year to 31 December 2023 Reserves policy and going concern The trustees intend to keep sufficient liquid funds in reserve to enable the Charity to meet its future commitments as well as to meet ongoing expenses connected with the administration of the Charity. No iommitments are entered into which are not fully covered by known incoming resou rces so the trustees do not target a particular level of reserve. Plans for the future The Charity intends to continue to seek new donors and to develop grantmaking that will efficiently serve the charity sector with a 'donor advised, model. Structure, governance and management The Charity is a charitable incorporated organisation ICIOI registered as a charity on 2 November 2021 in England and Wales. The Charity is governed by a Constitution dated 2 November 2021 . The Constitution provides that there shall be not less than three and not more than five trustees appointed by the trustee5. When a new trustee 15 appointed. they are provided with a copy of the key documents and an introduction to the work of the Charity. They are provided with the information they need to fulfil their role as a trustee. Apart from the first trustee5, whose terms of office are set out in the Constitution, trustees are appointed for a term of three years. The trustees are responsible for the overall management of the Charity, holding trustees, meetings on at least a quarterly basis. The Charity's Constitution allows the trustees to meet and conduct meetings virtually. All trustees give their time voluntarily and receive no benefits from the Charity. Statement of responsibilities of the trustees Law applicable to charities in England and Wales requ ires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial sratements giving a true and fair view, the trustees should follow best practice and.. Select suitable accounting policies and then apply them consistently Foundatlon Home Trustees, annual report For the year to 31 December 2023 Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 . 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 irregu larities. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may d iffer from legislation in other jurisdictions. The trustees, annual report has been approved by the trustees on 231091 signed on their behalf by 2024 and Jon Sopher Chairman Foundation Home Statement of financial activities (incorporating an income and expenditure account) For the year to to 31 December 2023 All of the above results are derived from continuing aciivities. Other than in kind support, there was no income or expenditure during the period and there were no other recognised gains or losse5. 2021- 2022 Total 2023 Total Note Income from.. Donations and legacies 8.314 1,703 Total Income 8,314 1,703 Expenditure on- Charitable activities 8.190 1,703 Total expenditure 8.190 1,703 Net movement In funds 124 Reconciliation of funds: Total funds brought forward Total funds carried forward 124 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stared above. All income and expenditu re is unrestricted. Foundation Home Balance sheet Charity No 1196369 For the year to 31 December 2023 2023 2022 Note Current assets- Cash at bank and in hand 124 124 Liabllliies Creditors.. amounts falling due within one year Net current assets 124 Total net assets 124 The funds of the charity.. Unrestricted income funds: General funds 124 Total unrestricted funds 124 Total charity funds 124 Approved by the trustees on 231091 2024 and signed on their behalf by Dom Hawes Trustee Trustee Foundation Home Notes to the financial statements For the year to 31 December 2023 Accounting policies a) Statutory information Foundation Home is a Charitable Incorporated Organi5ation registered with the Charity Commission for England and Wales. The registered office address is 6 Trull Farm Building, Trull, Tetbury, Gloucestershire, GL8 8SQ. bl Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Pracrice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP FRS 1021, The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011 The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reportsl Regularions 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather rhan the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. Assets and liabilities are initially recognised at historical cost or transaction value unle55 Otherwise stated in the relevant accounting policy or note. In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accou nting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circu mstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. c) Publlc beneflt entlty The charity meets the definition of a public benefit entity under FRS 102. dl Golng concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. Foundation Home Notes to the financial statements For the year to 31 December 2023 Accounting policies {continued> e> Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measu red reliably. Income from government and other grants. whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met. it 15 probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. Donations of gifts, seNices and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met. the receipt of economic benefit from the use by rhe charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 1021, volu nteer time is not recognised so refer to the trustees, annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the bas15 of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market., a corresponding amou nt is then recognised in expenditure in the period of receipt. g) Fund accountlng Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fu nd. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. h) Expenditure and irrecoverable VAT Expenditure is recogni5ed 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. Expenditure is classified under the following activity headings.. Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs Other expenditure represent5 those items not falling into any other heading Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Foundation Home Note5 to the financial Statements For the year to 31 December 2023 Accounting policies (continued) i) Grants payable Grants payable are made to third parties in furtherance of Ihe charity's objects. Single or multi-year grants are accou nted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity. Provisions for grant5 are made when the intention to make a grant ha5 been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. J) Allocation of support costs Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity. Governance cosrs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requ irements and include any costs associated with the strategic management of the charity's activitie5. k) 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. l) 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 month5 or le55 from the date of acquisition or opening of the depgslt or similar account. m) Credliors and provlslons 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 amounr after allowing for any trade discou nts due. nl Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inirially recognised at transaction value and subsequently measured at their settlement value. Foundation Home Notes to the financial statements For the year to 31 December 2023 Income from donations and legacies 2023 Total 2021-22 Total Gifts Gifts in kind 200 8,114 1,703 8.314 1.703 All income from donations and legacies is unrestricted. Analysis of expenditure (current year) Charitable Activities Governance Support costs 2023 Total 2021-22 Total costs Grant making (note 41 Independent examinationlaudit fees Operating Expenditure 8,114 76 8,190 8,114 76 8,190 Support costs 76 1761 Governance costs lin kindl 8,114 (8,1141 1.703 Total expenditure 2023 8.190 8,190 1.703 Other than in kind expenditure, there were no costs and no independent examination fees during the period. Foundation Home Notes to the financial statements For the year to 31 December 2023 Grant making 2023 2021-22 Grants to Institutions None Total Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel There are no employees of the Foundation. The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £nil 12021122 £nill. The charity trustees were neither paid nor received any other benefits from employment with the charity in the current year or the prior year. No charity trustee received payment for professional or other services supplied to the charity in the current year or prior year. Trustees, expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil 12021122 £nill. Related party transactions There were no related party tran5action5 during the period under review. Aggregate donations from related parties were £ nil (2021122 £nill. Foundation Home Noies io the flnanclal statemenis For the year to 31 December 2023 Taxatlon The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. Creditors- amounts falling due within one year 2,023 2,022 Other creditors