THE PATCH FOUNDATION CIO
REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Thg Patcfl Foundatlon CIO Ch•rlty No: 1196435

THE PATCH FOUNDATIOM CIO
REPORT OF THE BOARD
CONTENTS
Page
Report of the BoArd
Report of the Audltor
Con9011d•tod siatement ot Comprehenslve Income
CIO Statonwrd of Cornprehengfv? In¢om•
CoMolld&ted Stbtsment ol Chang•$ in Reserv•s
CIO Ststemon¢ of Change8 In R9s¢rve$
Con801idated Stat•ment ot Flnan¢lal A¢tlvltle&
10
11
12
13
Consolld•tad Statement ol Flnancial Posltlon
14
Consolldated Statsment ol C8¥h Flows
15
Notes to the Flnandal Ststemonts
16-27

THE PATCH FOUNDATION CIO
REPORT OF THE BOARD
The Board i8 pleased to wesent ts report ar*J audited flnarKial 5tatemerts for the year 8ndwJ 31 D￿ember 2￿23.
Rofer•n¢e 8nd adminislratlon Infomiatlon
Charlty Name
Charty Reglslralon Number
The Patch Fcwndatlcm CIO
1196435
Board of Trustees
The Board is compos&J of th8 lollowir¥J In¢thviduals'.
Angus Ball (Chairl
Hilary Slmmons
Rachagt Loulse Lud(ratt
Registered Olfi
Courtx Tennis Pavilion
Eastem Parade
Southsea
Hampshire
P049RF
Audltors
Barnett & Turner Accountants Ltd
66 West Gate
Man5fi91d
Notbnghamshlre
NG181RR
Page 1

THE PATCH FOUNDATION CIO
REPORT OF THE BOARD
Structur•, Governonc• and Managomont
Govèrning Docum•nl
The organisation is a foUnda￿n charf(able incorporated organisatlon (CIO) and was registered with
the Charity Commlssion for ErrfJland and Wales on 5 November 2021. Th8 charty Is govern￿ by
its constitution.
rrust90S
The trustees who servod during the year were as lollows:
Angus Ball (Chair)
Hilary SSmmons
Rachael Loulse Luokraft
Rlak M8nag8rn•nt
Consldoration has been given to the rlsks to which the charfty may be 8xrx)sed. and r( is considered
that the systems that have been eslablished are suitable for the minimisalion of such risks, lor
saleguarding ol the assets of the charity. arKI tor the prevenlion and detection ol fraud.
Public B•no1
In planning the charty's activities lor the yw regard has been given to the Charity Commission
guidan￿ on pU￿1C benefit.
olganl￿lOna1 Structure
The charfty is govemed by its L*)ard ol volunteer trusle8s who are responsible for overseeing
strategy and p)licy, approving annual ￿dgets and aw)un15. and who work in conlunction with Ihe
senior executlve staft. Attendance at meetlng5, interests and skills are monitored and reviewed
annually.
Board rnombers give their time voluntarily and receive no beneffts from the Gharty In restect of this
Commitsnenl. Any expenses reclaimed from the Charity or payfftents madg to them are set out In the
notss to the accounts.
Objectives and actlvltlo$
The Charlty's objects and princlpd activities are to:
Promote community participation in healthy recreatlon.
Promote art and the a¢fv8ncement ol education In ihe arts.
To provide asslstance In the provision of facilities in the interests of so¢ial welfare for
recrealion or leisure lorindmduals who have need of suGh fadlllles by reason of age, infimiity
or disability.
Page 2

THE PATCH FOUNDATl¢)N CKI
REPORT OF THE BOARD
R•vl•w of tho year
On 31st Deoember 2021. The Patch Foundallon CIO acquired the entire share capital ol Courtx Ltd.
Courtx Ltd was incorporated lo safeguard the lulure 0112 grass tennis courts surr￿lKI[ng opgn
space in a grade 2 listed publlc park known as Cano8 Lake Park in Southsea, Hampshire. Addilionpj
tennis courts, a calé and an award winnlng pavilion were bullt. Othor lacllilies indud8 communlty
nelball and baskelball courts.
Durfng 2023 relalion8hlps wlth qualffled Instructors provkllng physical and menlal well-belng
6esslons were expanded. The Pavillon proves lo be an excellent destination with projectlons aTr
music in the studio settlna the appropriate envlronment for a varlety ol a￿￿[lIes.
The barlt8rrace was refurbished to enhanc8 the expodence of those wlshlng lo soclallse after thelr
particlpallon Sn various classas, and also provldes some hgaiihy snacks and drlnk6.
Tha Soclais for Senlor8 Ipeoplo over 60yrs old who Ilve alone) conllnue lo m99t most days at the
Pavllion or Calé Fresco. The soclal gel logethers prevent loneliness and provhle a sense of
belonging. Work5hop6 have now been Introduced Such a6 '0nllne Scam Awarene88' and 'Salety at
Home"
The provlslon of the hlghesl quallty tennis facllltSe8 Con￿n￿o$ to be one ol our hlghesl prtorllles, and
the expandSn9 member8hlp and varlety of teams and coaching reflects our success in thb field.
Flnonclol r•vlv•
The delalled Ilgures are Included In the flnanclal statements. Tho charfty achleved a surplus of
Incom8 over exp8ndilur8 lor thg year or £1,645.332 12022.. £2.430,5081. Unr8slrfGled gengral
reseNes as at the year end were £4,016,109 {2022.. £2,405,880) and re61rfcted lunds wore £59.731
12022: £24,628).
Plfin8 for th• futur•
The Patch Foundallon CIO, through Courtx Ltd, conlSnu8s lo be commttted to croallng an er¥Jaged
community and hopes lo do thls by expandlng hs Dfl8rlrys.
Th9 ambhlous prolect to Install an Art Trall Is underway and udllses the under-usad porlph8ral
grounds around the lennls ￿urts lo create an i￿￿ting area lor leisure and cultural actlvttle8.
ThL8 will provlde addllSonal Interest at the Courtx sitg and attraot a wider vlsllor demogr8phlc.
The main features of the Art Trall wtll bo a serfes of sculptures and an lrnmerslve subterranean
Spaco to display dlgltal visual art and this wlll be compllmenled by communlty workshops whlch wlll
engage Ihe vIs￿ors.
Further relurblshments planngd lor the Pavilion ￿11 ensuro it is a destination for many wantlng a
8ale and welts)ming envlronment.
Provlding Padgl tennSs court8. which is now one of the fastesl growlng sports. Is belng exFlored wlth
the possibility ol installing up to 3 ¢ourts lat¢r this year.
Supporfng communltles Continues to be our focu5 and wg continu9 to seek new partnershlps to
provide ¢)pportun¢kne8 10 8xFerlence the various act5vI￿e8 al Courtx.
Pag• 3

THE PATCH FOUNDATION CIO
REPORT OF TrIE 8QARD
R•8•Ms polley
11 hes been Ihe wllcy ol the chadty that unrestrlcted funds should be malntalned al a level equlvalgnt
lo between three and six months oxpendilure. The trustees con51dered that reserves ai ihis16vel,
would ensure that, in the event ol a signllicant drop in funding, they would have been ableto continue
the charity's current activities whilst con5id8ralion was gfven lo ways in which addrtional funds may
have been ralsed.
Tru8t••J' r••pon8lbllltlo8 8l•tgm•nt
The Iruslees are responslble for Prepa￿n9 th8 Trustees. Annual Rep)rt artd the flnancial statements
in accordance wllh applicable law and United Kingdom Ac¢ounting Standard8 Iunlted Klngdom
Generally Accepted A¢¢ounllng PractiC81.
The law appllcable lo charlues In England & Wales requlres the trustees lo prepare financial
statements lor each linancl81 year whlch gfve a Ifug and falr view of the Slate ol aflalrs ol the charity
and ot the incoming resources and appllcallon ol resources of the ¢harlty lor that year. In preparlng
Ihese Ilnancial slalements. the Iruslees roqulred lo-
Select sullable accounting policles and then apply them conslslenlly.
Observe the methods 8nd prlnciplès In Ihe Charities SORP 2019 IFRS 102>.
Make judgements and esllmales that are reasonable and prudent.
Stale whether applicable accounllng standards have been folbwed. Subject lo any materlal
departures dlsclosed and explalned in the linanclal stal8mants.
Prepare the financial sta18ments on the golng wncem basls un19s$ It Is Inapproprfate lo presum8
that the cha￿tY will conllnue In operation.
The Iruslees are responslble lor koeplng proper accounilro records that disclose wllh rea8Dnable
ac¢ura¢y al any Ilme the Ilnanclal posltlon of the charlly and enable Ihom lo ensure that the financfal
slalgmenls comply wllh the Charllles Act 2011, the Charilles (Accounts and Reports) Regulallon8
2008 and the provislons ol the ConstllLrtSon, They are also respon81ble for salegu8rdlng Ihe asse18
the charity and hence for ta￿ng reasonable 51gps lor the preventSon and dete¢tlon of Iral￿ and
other Irregularlt48s.
ProVI￿on of Intovff*tlon to the audltor
We, the Trustees of the Charfty who held offlce al the dale of approval ol these Ilnan¢lal Statements
as set out abovg each conllrm, 80 lar as we are aware. that..
there Is no relevant audll Informailon ol whlch the Charlty's audllor Is unaware,. arKI
we have taken all the steps that we ought lo have taken as Trustees lo make ourselves awar8 of
any relevant aL*JII inlormallon and to eslabllsh that the Charity's audiloi is awa￿ ol that Information.
lle4

THE PATCH FOUNDAnON CIO
REPORT OF THE BOARD
Corpornts Go￿rnanCe- Intsrnal fin•n¢lol control
The Board aGknowledges Its ultimate responsibility for ensuring thatthe charily has In place a systern
of controls that18 approprlate to the varfous business environments In which it operates. These
*ntrols are deslgned to glve reasonable assurance with respect to the..
reliability of Ilnancial Informallon usgd wlthln the Charfty or for publIca￿on.
maintenance of proper aGcounling records., and
5afeguardlng ol assets agalnsl unauihorl$8d u80 or dlsposd.
It Ss the Board's re5ponslbility lo establish and maintdn systems of Internd flnanclal conlrol. Such
systems can only promde reasonablg and not absolute assurance aoainst linancld mi8slat8m8nt or
loss. Key elementg Include ensuring that:
forni￿ pollclgs and prOc￿Ur&S are In place, IndudlrvJ the do¢umentatlon ol key system8
and wlgs relating lo the delegallon of aulhoriiles, which allow Ihe monllorlng of controls and
restrict the unaulhorlsed u59 ol the charity's assets.,
experlenced and sullably qualllled stall lake respons1b1l￿ lor Important t￿lnesS lunctlon8;
IoTecasts and budgets arg PTepared which allow th& Board and management to monllor tha
key buslnesg rlskg and financial objective8, and progress towards financial plans sel for thg
year and the modlum lemi.,
all slgnlll¢ant new InllSallve8, malor Commllmenls and Investmenl project8 are subfrgct to
formal aulhorlsailon procedures. Ihrouoh the Board members and others.
By ordgr ol the Boa
Angus B811
Chair
22 Octcèer 2024
Page 5

THE PATCH FOUNDATION CIO
Jndependent Audltors Rèport to Tho Truste8$ 01 Th• Patch Foundatlon CIO
Oplnion
We have auithied the Iln8ncial slatemenls of The Patch Foundation CIO Ith8'paront charitvl and Ils
subsidiary Ilhe group'l for the year ended 31 December 2023 which comprise the consolidated
slalgment ol flnancial activities, the Statement of financial p)sllion. the consolidated slatemenl of
cash flows and th8 related notes, includlng a summary of slgnificant accounting Policies. The
financil reporting framework that ha5 been applied In Ihelr p￿paratiOn Is applicable law and United
Kingdom A¢counting Standards, induding Financial R9POrting Standard 102 'Thè FinanGial
Fleporting Standard applicable in Ihg UK and Republi¢ of ITgland' (United Klngdom Generally
Accepted Aocounilng Prac11￿1.
In our opinlon the finandal statements=
give a Iwe and fair vlew of the state ol the group's arKI of the parent charivs aflaiTS as at
31 De￿mber 2023 and ol the group'5 incoming resources and appllcallon of resources.
including ils income and expenditure lor the year then ended.,
have L￿n properly prepared in a¢¢ordanc8 with Unf(ed Kingdom Ger￿TallY Accept
Accountino Practice.. and
hav8 Ixen prepared in accordance ¥￿th the requlrements ol the Charities Act 2011.
8￿15 lor opinion
We conducted our audit in accordance wlih Inlernationat Standards on Audlting (UK) IISAS (UKI)
and applicable law. Our responsibillties under those standards are further described Sn the Auditovs
responsibilities for the audit ol the finan¢ial statements section of our re5XSrt. We are independent
of the group in accordan￿ with the ethical requirements Ihal are relevantto our audil of the financiat
stalemants in the United Kingdom. indudlng the Financial Reporting CDuncil's Elhlcal StandaTd,
and we have lullilled OUT other ethlcal responsibilliies in accordance wtth these requirements. We
believe that the audit eviden￿ we have obtained Ss sulficienl and appropriate lo provide a basis lor
our oplnion.
Concluslon6 r8latlng to golnu concern
In auditing the financial statements, we have wnciLKled that the truste88' US8 ol Ihe goiNJ ¢oncem
basis of accounting In the preparatton of the financial slatemgnls is approprsate.
Based on the work we havè performed, we have not Idenltfied any material uncertainties relating lo
events or conditions that. Indiwdually OT collectively, may cast slgnrficant doubt on the group's or
the parent charity's ability to continue as a goSng concern for a period of al least twetve months from
when the financ1￿ stalgments are authorfsed lor issue.
Our responsiEilities and the responsibilities ol the trustees wilh fespect to going concern arg
descrlbed in the relevant seclions ol this report.
<)Iher inlormation
The other intormatlon cornprises the information included in the annual report other than the
linancid slalerrtenls and our auditols report thereon. The Iruslees afe responsible for the other
information contained within the allnU￿ repDrL Our opinion on the flnancia5 51atemenls does not
cover the other information and, except lo the exlenl olherwisg expliutly staled in our retyjrt, we do
not express any form of assurance conclusion thereon.
Pa9e 6

THE PATCH FOUNDATION CIO
Our rgsponslbillty Is to ￿ad the othgr Infonnal#)n and, In doing so, consider whelher the other
Informalion is malerfally incon51Stenl wlh the linanclal statements or our knowtedge obtsined in the
urse of the audit. or othgrwise appeaTS lo be materially misslaled. If we identKy such materral
Incons5stgncies or apparent materfal misstatements, we are required lo delemine whether this
gives rise to a material mis8tatement in the financial statements themselves. If. based on the work
Wg have performed, we conclude that there is a material mlsstalement ol this other information. wg
are required lo report that facL
We have nothing to report in this regard.
Alatters on vthl¢h we are r•qulred to report by oxcgption
We have nothing lo report in respect of the followng matters In relation lo which the Gharftles
(Accounts and Reports} Regulations 2008 requires us to report to you if, in our oplnion:
the information given in the Iruslees, annual repjrt is Inconslst&nt In any rnater￿ r88Pg¢t
with th8 financial statements,. or
sufficient a¢￿Unting records have nol been kept.. or
the financiai statements are nol in agTgement with the a¢¢ounting records arKI retums; or
we have nol received all the inlormalw)n and explanations we require for our audit.
Re8pon8lblllUeg of INgte
As explained more fully in the INs199s' responsibllities slalem8nl, the IrustBes are responsible lor
the preparation ol the linanci￿ slalemenls and for belng salisfied thal they give.a true and fair view.
and for such internal control as the trustees determlne is ne¢essary to enable the preparation of
ffinarwial slalemenls that ao free from material mlssiaiement, whether due to fraud or error.
In preparlng Ihe financial statements, the trustees are responsbi le for asse88ing the group's and the
parent charity's ability lo continue as a going 00n￿m, disdosing, as applicable, matters Telated to
going concern and using the golng Goncem basis ol accounting unless the trustees either intend to
liquidate the group or the parent charity or to ¢ease operations. or have no realistic ahemative but
to do so.
Auditor's responslbllllles lor tho audlt of the flnan¢lal 8181gm•nt$
Our objectlvgs are to obtain reasonable ￿Urance about whether the financiai slatements as a
whole a￿ Irge from malerfal misstatement, whether due to fTaud or error, and to issue an audiloffs
report that includes our opinion. Reasonable assurance is a hlgh level of assuTance, but is not
guarantee that an audit conducted in accordance Tr￿1h ISA5 IUKI will d￿aYs del￿t a material
mlsstatement when it exists. Misslatemenls can arise from fraud or error and are considered
material if, indNidually or in the aggregate, they could reasonably be expeGted to influence the
economic declsions of users taken on the basis ol these financial stalernents.
Irregularities. including fraud, are Inslances of non-compliancewiih laws and regulations. We design
procedures in line with our responsibilities, ouvined alx)ve, lo detect malorial misslalements in
respect of irr8gularilies, including fraud. The gxtent lo which our procedures are capable of detecllng
Irregularttles. induding fraLKI is detailed below:
As part of our plannlng process..
We enquired of management the systems and controls the charity has in place, the areas
ol th8 linanaal statements thal are moslly SU￿Optib1e lo the rtsk ol I￿egularitIeS and fraud,
and whether thorg was any known, suspeGted or alleged fraud. The charity dKd not inlom
us of any known. suspected or dlegad fraud.
Pgge 7

THE PATCH FOUNDATION CIO
We obtaln8d an understandirvJ of ihe legal anrj reoulatory frameworks appluble to the
charity. We detem)Ined that the lollowlng were most ￿levant.. FFIS 102, Charftles Act 2011.
We ¢on81dgred the incenllves and opportunities that exlsl In the chadty, Indudlng the extent
of management bias, which present a potential lor Irregularities and fraud to be perpetuated.
and tailored our risk assessment accordingly.
Using our knowledg8 ol the chartty, together wilh the dIs￿SSIonS held al the plannlng stage.
we IoTmed a conclusion on Ihe risk ol misslatemenl due lo irregularitK88 Ir￿Uding fraud and
tallored our procedures aGGordlng lo th15 risk assessment.
The key procedures w8 undertook to d8t8ct Irreoularllles Inctudlng fraud durlThJ the course ol the
audit includod..
Idenllfylng and testing loumal enlrles and the overall aGGounllng records, In partlujlar thos8
Ihal were slgnlllcant and unusual.
Aevlewlng the linanclal slalement dlsclosures and (klerrnining whether accounttng polld86
have been approprlalely applied.
Obtaining Ihird-party conllrmalion of bank balances.
Revlewing doGumentallon such as the toard mlnutes, lor dlscusslons of Irr¢gularMlas
Includlng fraud.
(Xwlng to tho Inherent Ilmllation8 of an audll, there Is an unavoldablo rfsk Ihat we may not have
dgtacled some malerlal mlsslalemenls In the flnanclal Slalemenls even though we have properly
planned and perfomed our audit In a¢wrdan¢e with aLKliting standards. The prlmary responslblllly
lor the prevenllon and delection ol Irregularitles and fraud rests with the those charged with
goveTnan¢e ol Ihe ontlty.
A further descrtpllon of OUT responslbllltS6s lor th8 audll ol the fSnanclal 8talemenls Is located on the
Flnan¢lal Reportlng Councll's websSie al: www.frc.org.ukjaudltor8respon8lbllllle8. Th18 descflpllon
forms part ol our audilorfs report.
L￿8 of our report
Thls report Is made solety lo the charlly's IrLtslees, 88 a body, In accordance wtth secllon 15101 the
Chari1188 A¢t 2011 and regulations mado under sectton 154 of that Act. Our aud51 work has boen
undertaken so that we might slate to the Gharily's trustees those matters we aro requlred lo slate lo
them In an audllorfs report and lor no olhor purpose. To the lullasl oxlenl pormitted by law, wo do
not accept or assume resF)onslblllty lo anyone other than the charliy and the charlty's trustees, as
body, lor our audll work, lor th18 reFort, or lor the oplnlon8 We have lormad.
Jonathan Wllson FCA CTA (Senlor Slalulory Audrtorl
For and on behaK ol
Barnett & Turner Accountants Ltd
Chartered Accountants
Slatulory Auditors
Cromwell House
68 West Gale
Mansfield
Nottinghamshlre
NG181RR
28 o￿ober 2024
Pagg 8

THE PATCH FOUNDAMON CIO
CONSOLIDATED STATEMENT OF TOTAL COMPREHENSIVE INCOME FOR THE
YEAR ENDED 31 DECEMBER 2023
Totsl
Total
2022
Turnov•r
Operatlng expendlture
2,738.755
{1,093,4231
3.562,053
11.731,5451
Operatlng surplus
1,645,332
1430,508
rotal COMweh￿SlVe Incorn lor the ygar
1,64S,332
2,480,
The consolidated financlal statBrnents wer8 apwoved by the Board on 22 OCto￿r 2024.
Jus B￿1
TTusl¢o (Chaw)
The consolidated results ￿late wholty lo ￿ntInUIr￿￿ operabons.
The aLronN)anylng notes form pRrt of iheso financial stalgments
Pog• 9

THE PATCH FOUNDATTh CK)
cio srATEUENT OF TOTAL COUPREHENSIVE INCOIAE FOR THE
YEAR ENOED 31 DECEMBER 2023
Total
Total
TuTno7Mr
OperatlrvJ èXF￿nd
1064,418
1,485,508)
880,234
1691.7801
Operntlng ¥ury*l
578,910
168,454
Total comprohen8l¥e In¢om•lor th• y
578,910
168,454
The ¢￿n$01￿1athd fln&ndd slateftwrts ar¢¥oved by Ihe Board on 22 tktober 2024.
u8 8811
Trust89 ICh&trl
The CIO'8 r88uft8 Tolate to ￿n￿nU1￿j opwatkn&
Page 10

ThE PATCH FOUNDATION CIO
CONSOUDATED STATEMENT OF CHANGES IN RESERVES FOR THE
YEAR ENDED 31 DECEMBER 2023
Unrestrkted
R•gtrl¢t
Gfrn•r91
Funds
Art Trnll
Balanco brought lon￿[d
Surplus from 8tal8ment of
0mprehens￿e Incomg
2.401880
24,628
2,430,508
8•lan¢• ot 31 00￿mber 2022
2,405,880
24.628
2,430,508
Balaneg brought fopHard
2,405,880
24,628
2,480,508
SuWus tr￿ 8tatam8nt ol
cornprehenslv8 lrtom8
1,810,￿9
35,103
1,645,332
B￿8n￿ at 31 Doc•M￿r 2023
4.018,109
59.731
4,075.840
Paga 11

THE PATCH FOUNDA710N CIO
CIO STATEMENT OF CHANGES IN RESERVES FOR THE
YEAR ENDED 31 DECEMBER 2023
Unr•strlct
Ganeral
Funds
Total
BalarKo brouohl forw•rd
Surplu8 from ¥ta19monl of
Comprèhensive inoome
161454
168,454
Balance at 31 D•c8mbw 2022
168,454
168,454
B•l•nc• brought torward
188,454
188,454
Surplus Irom Blatement ol
comw8hen5￿¥ Incorne
578,910
578,910
881•n￿ •t 31 D•¢•mb9r 2023
747.364
747,364
g•12

THE PATCH FOUNDATION CIO
CONSOLIDATED STATEME￿ OF FINAKCIAL ACTIVITIES
YEAR ENDED 31 OECEMBEA 2023
Unrestrlcted
General Fund
2023
Restrfcted
Fund
Totsl
Total
Nots
Ineome from:
DonaliDns and grants
Other tradlng acltvibes
Other incorne
2.064,251
501,335
173,169
2,￿4.251
501,335
173.169
860,234
515,882
2.185,937
Total Incomo
2,738,755
2.738.755
3,562.053
Expgndlturo on:
Raising funds- trading actfvltles
Charitable aclivitbs
1.079,373
14,050
1.079,373
14,050
1.112,096
19,449
Totsl expendliuro
1,093,423
1,093,423
1.131,545
Ilot Incomo tor tho yoar bEtore olhgr
recognlsed gains and losses
1,645,332
1.645,332
2,430,508
Transfer tetween funds
15
135.1031
35,103
Met nw)v8m•nt In fvnd¥
1,610.229
35,103
1,645,3W2
2.430,508
Reconclllatlon of funds
Fund balance brought forward
2,405,880
24.628
2.430,508
Fund balance at 31 De¢embgr 2023
15
4,016,109
59,731
4.075.840
2,430.508
The Statement ol Financi￿ Activilles indudes all g￿nS and losse8 reC￿ni%e￿ in the year.
All a¢llvlUes derive from conllnuing operations.
Tho acrompanyirKJ notes form part of these finandal stalemerrts.
Page13

THE PATCH FOUNOATION CIO
STATEMwf OF FINANCIAL posmoN
31 Decernber 2023
NoteB
Grol
2023
Charty
2023
Ftxed asgets
Tangible fixed assets
11
3.￿3.151
2,802.344
3,003,151
2,302,344
Current alsels
Stock
Debtor8
Cash at bank and in hand
3,$00
474,447
685,523
3,SOO
177.788
178.410
13
412,850
350.174
172.047
3,997
1,163,470
359,698
763,024
176,044
Crèdltors.. amounts lalllng
ue wthin one year
14
IW,7811 1231,5341
115,6601
(7,5￿)
Nel current ¥880
1,072,689
128,164
747.384
168,454
Total assats loss ¢urrenl
118blllll•s
4,075.840
2.430,508
747,364
168,454
Net 8g¥ets
4,075,840
2,430,508
747,364
168,454
Ropres8nled by
Unr•￿rIcted fvndg
Genera5 funds
Resi￿ted fund#
15
15
4,016,109
59,731
2,405.680
24,628
747,364
168,454
Tol•l
4.075NO
2.430,508
747,384
168,454
Approved by the Board on 22 October 2024
Angus
all (Chairl
The accompanying notes form part of these finandd ststements.
Pago 14

THE PATCH FOUNDATION C
COIISOLIDATED STATEMENT OF CASH FLOWS
for the year 8ndod 31 Dec*mbor 2023
Note
ea$h generaled from operatlng aclMtIo$
Capltal expendllurè
17
1A67,718
2,548.285
Paymenls to a¢quir8 tanglble fixed assets
SubsidSary flxed assets acqulred
1860.6051
1231.9751
12.232,9001
Net co$h Inflow l (outtlow) frcffi capltAI
exptrnditurg
507,113
{£464,8751
Flnandng
Nel movement in short term borrowlngs
95,000
Nfrt ¢￿h Inflowllouthow) from financing
N•t chany In cagh ond ¢88h equEv•lents
18
$07,113
178,410
Caah and ￿$h equfval•nts forn￿rd
178,410
Cash and cagh equlvatent8 ￿rrIed forynrd
685,523
178,410
The accompanylng notes form part ot these flnandal statements.
Page 15

THE PATCH FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. Gengral Inlonnatlon
The organlsatlon is a loundatlon charitable incorwrated organisatlon ICIO) and was reglslered vAth
the Charty Commlssion for England and Wales on 5 November 2021.
I Statsm•nt ol compllan
These linanclal slatsments have been prepared In compllance ￿th FFIS 102,'The Flnancial Reportlng
Standard appll¢able in the UK and the Republlc of Ireland. the Statement ot Recommended Pradce
appllcable lo charities prepartng their accounts Sn aGGordance with the Flnanclal Reportlng Standard
appllcable In the UK arKI Rewbtic of Ireland IFRS 1021 (Charfles SORP {FRS 1021 and the Charllles
Ac12011.
3. Aecountlng pdl¢l••
Ba#1• ol pr•p•r4tlon
The Ilnandal statements have been prepared on hlslorlcal cost basls. The flnanclal slalemenls
are prepared In slerllno. which18 the funclional currency ol the enllty.
The flnandal statements have been prepaigj on a golng concern basls.
Con•olld•l8d •¢¢ounts
The group Is requSred to preparg consolldaled ac¢oun16. Thes& con801kJaleil accounts comprlse the
flnandal 8tatements of The Patch Four*Jatlon CIO and ol Its subskllary Courtx Ltd.
All Irrtra-oroup transactFon8 afKI balance8 are ellmSnated on con8011datlon.
Bu•lnM• Comblnollon•
The cost of a buslness comblnallon Ss the falr v￿u& ai the acqukliion dale, ol the Conslderatlon pald
and liablllties incufred QT a86umed, plus (xists direcuy 8ttrlbulable lo the business comblnallon.
Where the pa￿nI chadty acqulres a non-¢haritablg subsidiary and the consSderallon pald Is nil and Is
less than the nel assets acqulred, the gain Is recognlsed as other Income in the period of acquisition.
Incornlng r•8ourc
Atl Incomlng resources a￿ Includ￿ In the statement of financlal act1￿150$ when entlllomenl has
passed to the Gharity,. I Is probable thal the economic benefits associated with the transacllon ￿11
flow lo the charity and the amountcan be reliably measured. The folk)wSng specific pollcte8 are applied
to particular calegorfes of inGomg'.
Income froTn donation8 or grants 1$ ￿cOgnISed when there is evijence of enlltlem&tt lo the
glft, receipt is probab￿ and Its amount can be measured reliably. During the year under review
Angus Ball. Trjjsteg, made donatlons of £1,651,401 12022.. £688,187) to The Palch
Foundatlon. Thesa donation5 were recognised as Soon as there wa8 eviden* of enlitlemenL
Pagè 18

THE PATCH FIXINDATIOM CIO
YEAR ENDED 31 DECEIABER %)23
IPA
irw))me fr(￿ Contracts lor the s￿FlY of seNtces Is rgcognlsed with the delNery of the
contraded service. Thls b das&fied as unrestricted funds unless there is a corrtraclu
requirement for rt to b& S￿nt on a partIw￿r puw aThJ rettjmed If unspenL In which case It
may be regarded as reSt￿ed.
Alultt p•tlod Incom•
In d9termlnlng the revenue lo b8 reojgntsed on grants. or o)ntract income wh)se project spans more
than one perlcrfl of account.. Management recognise Income where Ihare is enliuemenl lo the income.
tt is probable the economic bonefrt will flow to entity and the revenue can b8 ￿liab]Y measured
under the terms of Ihe apreement.
RO￿Ule81 •xpwthd
Expendtture is r8LX)gnL80d on an actruth Lwis as a labilhy Is Incurred. ￿endItUre Incl￿88 any
VAT whlch cannot be fully rernvered, arMJ18 cla8StfvJ under h￿dI￿8 of the 8talemenl ol lInaTh￿al
aclNilles to which it rdates..
I costs are allocated lo gxpendllure calegodes refiecllng th• use ol the res￿ree. Dlrect costs
attributable to a slngle a¢bvity are atlocaled direclly lo that advity. Shared cosls are aA)ortloned
betrmgn the advrt6e8 ￿ntr6￿J1￿ to on a Taasonable, luStW￿bIe and wn6btsnt ba616.
Fkn•nclal In•trum•ftts
A finw￿581 assel or a f6n8ndal ￿a￿lIty is reco2nlsed onty when the entity becomes a paty to th&
OjntraGtu￿ Provi￿an8 ol th¢ inslrumenl. linanclal Instruments a￿ Inttially recognSsed al th8
amount receivable or payat4e Indudlng any related transacilon costs. unless the arrangement
Con￿lluteS a Ilnancing Iransactlon. wh9re It is rei>Jgnwl at tho wesenl value ol the fvlure payments
dlscounted at a market rat6 01 int8Test for a simRar debt instrumenl. Currenl assets and current
Ilabililies are subsequently measured at tho cash or other con$ideTallon expected lo b6 pakl or
receSv&d and nct discounted. Debt Instrumgrrfs are subsaquonyy measured al amortised cost.
Tar*glbl• I1￿￿ ••••l•
xed assets are stated al cost les8 ao%mulatsd iJ8pre(aatk>n. Dweoation16 pnJvhJ8d lo wrfle off
the cfJ8t of 8uch fixed asset8 over their estlmakny economk Ilves at folknwing rale8:
Buildings (including profess￿n￿ fee8)
F￿tureS. littirvJs. and 4uiFThnt
r the ￿fe of the assodated toase 5.56% slrdohl Ilne
12.5% on a r•Juthg WarKe bask%
P•n#lon•
Courtx Ltd ￿rat88 a defined contribulbn plan IOT it¥ errpk>yees. A defined cOnM￿tion plan Is a
pension plan uThJer whth the company pays fixed contr1E￿tiOnS Into a separnte gntrty. Once the
¢ontritxJtions have been paid Ihe company has futher paYrr￿n1 obllga1ions.
The contrlbutions are re(￿nised as an expense in profft or loss Ythen they lall du8. Amounts not paid
are shown in acryuals as a liaLxlrty in the BalarKe shegL The assets of the tyan are hekl separataty
from the company In I￿nden￿Y administered fur
Paue 17

THE PATCH FOUNDATION CKJ
NOTES TO THE FINANQAL STATEMEIITS
YEAR ENDED 31 DECEMBER 2W23
st(￿ks are recogntsed at the lower of ¢0* and net re￿isable value
Toxatlon
Th8 Patch Foundalh)n CIO rs a registered Charity arKI r5 exempt from paylng ￿rpOratIOn lax on
ch8rWle activilies.
Cwrtx Ltd is not Teglstsred as a charlty and Ihetyfore corporallon tax would be payable on taxal)le
profits should thgy arfse.
Op•ratlng leases
RenlaLs urK19r operating leases are tharged lo the statement of fina￿[81 actlvltles on a stratght-llne
basls over the term of Ihe lease.
Provl8lons
Provisions are recognlsed when the entity has an Obl￿a￿On at Ihe balarKe 5h99t date as a result of
a past event, il Is probable that an outllow ol e¢0￿MiC benefits ￿11 be requlred in Se￿ement and the
amount can be rellably estimated.
¢>IUcal area# ol ludgement
In determining whether leases are finance or operating lease5, management judges as to whgther lor
nthi the significant risks and rewards of ownership have transferred lo the entkty.
U9eful I1￿ of depreciable asgets
Management revlews the useful INes of assets at ea¢h rerKJrtiThJ date.
Page18

THE PATCH FOUNDATION Cto
NOTES TO THE FIMANCJAL sfATEMEiirs
YEAR ENDED 31 DECEMBER 2ty23
In¢oming ro￿)￿rC9S- group
Voluntary I￿oMe
Unrestrlct•d
UnreBtrlctsd
Donations lincludlro gift aid)
2,064.251
880.234
2,064.251
860.Z34
Other trAdlng ictfvlt19$
Unrestricted
Unrgstrlclgd
2022
Subsldlary urKlertaking
501,335
515,882
501,335
515,882
Other Sncom•
Unréstrf¢ted
Unr•strlct8d
Acquisition ol $ubsithary undertaking
WaTver of loan from A Ball to Courtx Ltd
HMRC inleresl
2.090.937
95,000
173,￿2
167
173,169
2,185,937
Page19

THE PATCH FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2W23
Operating surplus
The opgraling surplus k arrived at after oharglng l {crediting)
Gmup
2023
Group
2022
Charlty
2023
Charlty
2022
DeprecHlon
Audltor's remuneration- audTI of
financial statements
159,798
162.530
8,410
8,375
3.210
2,910
Expendllure- group
All expendllure Is accounted for on an accruals basls and has wherever practicable been allocated
to Ihe relevant Gatsgory. Irrecoverable VAT 18 charged to the appropriate cost category
Unrestrlcled
Trading Support
¢o¥ts Qovwnonce
Group
Qroup
Staff costs
Other staff Telated
expenditure
ActNily cosls - cost of sdes
Facilities costs
Depreciation
Admin costs
Finance ￿sts
Govemance
541,283
541,283 568,076
2,940
137,564
177,117
159.798
50,999
9.672
2.940
2.484
137,564
144,511
177.117 177.165
159,798
162,530
56,639
60,664
9,672
7,740
8,410
8,375
5.640
8,410
1.079.373
5,640
8,410
1,093,4¥8 1.131,545
Page 20

THE PATCH FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAH ENDED 31 DECEIIBER 20rJ
Employee eosts
2023
2022
Salaries
Social security costs
Penslon
505,268
28.752
7,263
528,141
32,283
7.652
541.283
568,076
All employe88 were pald through Courtx Ltd. No employeè was pald In exc886 of £60,OC#) durlng
the year.
Employ•• co•l•- k•y man•oom•nt w•onn
2023
2022
The aggregate remun8ratlon of tho sanlor leader8hlp team (who aT8 also
key management per80nnel) durlng the yew was as follows..
Salarfes
So¢ial 8ecurlty c081s
Pgn5ion
78,956
8,464
1,943
78,119
8,638
1,915
89.363
88.672
10
T•xotlon
The Patch Foundailon GIO Is a reolstered Chartty and Is exempt from paylng corpwalSon tsx on
charllable actlvllles.
Courlx Ltd Is not reglstered a8 a charlty and Iherefoie corporallon tax woukl be payable on taxable
profi'ts should they arise.
Page 21

THE PATCH FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENOED 31 DECEMBER 2023
11
T•nglblo flxgd a88Ot8- Group
Flxtur
Ilttlng$ and
equlpmont
Frgehold
propeity
Prof¢s8lonal
le•
Tol•l
Cost
Brought forward
dllions
018posal
1.689,749
511,572
262.052
22.826
513,073
328.207
2,464,874
860.605
Al 31 December 2023
2,201,321
284,878
839,280
3,325,479
Accumulatod doprnclatlon
Brought forward
Charge for year
Ellmlnated on dlsposal
90,888
90,888
56,209
53,363
15,433
15,547
162.530
159,798
At 31 De¢embor 2023
181,776
109,572
30.980
322,328
Nel book value at 31
Drfember 2023
2,019,545
175,306
808,300
3,003.151
Nel book v￿ue al 31
Decembor 2022
1598,861
205.843
497.640
2,302,344
All Ilxed as601s were owne(I by the sub81dlary company Courtx Ltd
Pag8 22

THE PATCH FOUNDATION cro
NOTES TO THE FINANCIAL STATEMEMTS
YEAR ENDED 31 DECEMBER 2023
12
Investments: wholly ¢ontroll•d subsldlary undortaklng$
The p￿ent charftablg CIO vrfholty controls the lollowlng non-charttable ¢ompany
Country of registratlon or
Incorporatlon
Courtx Ltd
(￿rnpany number 08803582)
England and Wales
Linwted by shares
Ststgrnont ol total comprehenslve Income Courtx Ltd
20YJ
2022
Turnover
2.045,009
1,144,585
Opèrallng expendkture
11,084,980)
{1,117.5611
Operaling surplus
960.029
27,024
&Jrplus l (deficit) forthe
year
960,029
27,024
The aggregate of the assets, liabilitie8 and r9serves were:
Assets
3,411.064
2.486,000
Ll8blliltes
1333.0741
1368,0391
ReseNe5
3,077,990
2.117.961
Pag9 23

THE PATCH FOUNDATION cro
NOTES TO THE FINANCIAL STATEMEiirs
YEAR ENDED 31 DECEMBER 2023
13
DolXoYs
Croup
2023
Group
Charlty
Charlty
2022
Trade debtors
Prepayments
Other debtors
VAT 5elUement
1.842
4,286
413,050
55.269
2,272
3.317
172.199
412,850
172,047
474,447
177,788
412,850
172,047
14
Creditors: arnounts falling du• wlthln ong
Group
2023
Group
2022
Charlty
2028
Charlty
2022
Trade ¢rediloTS
Social security and other taxes
Other loans
Accruals and deleried incy)me
Amounts due lo group
undertaklngs
Other creditors
56,682
12,836
18,169
19.635
173,000
19.744
19.816
7.950
7,590
7,710
1,447
90,781
231.534
15,660
7.590
The 2022 loan was on an interest free basls.
150
Movom•nt In lund$- Oroup
Brought
lorwaryl
Imlancg
Baknn¢• #t
31 Do¢embtr
2D23
Incomlng
Ouiy)Ing
TMn#fer8
Unre*rICt￿ lund•
General fund
2,405,880 2,738.755 11.093.423) {35.1031
4,016,109
Yolal Unye•tr￿ad fundB
2.405,880 2.738,755 11,093.4231 {35,103)
4.016,109
RÈstri¢t¢d l￿d¥
Arts Trail
24,628
35,103
59,731
Tolal ￿*ll*l•d funds
24,628
35,103
59,731
Total fvrrtlrl
2,430,508 2,738.755 11.093.423)
4,075,840
Page 24

THE PATCH FOUNDATION CIO
MOTES TO THE FINANCIAL STATEMEwrs
YEAR ENDED 31 DECEMBER 2023
1* Ith)vempnt In lurKl$-Group- prlor year
Broughl
lor*drd
bAkn¢o
Balonce at
a1 Dacwttb¢r
2022
Ing
Tt8nsfer8
Unrestsl¢ted funds
General fund
3,562.053 {1,131,5451 124.6281
2.405,880
Tolol unr•sirf¢iod fund$
3,582.053 (1.131,545) {24,6281 2,405,880
Reslrfcled lunds
Arts TMI
24.628
24.628
Totsl r•51rlcled funds
24,628
24.628
Totsl funds
3.562.053 11,131,545)
2,430.508
16
Anglys18 ol net a89è18 betW￿n lund8
Hxed
(*Nem
Cr•diiors falUn9
aswts du•wlthin 4)M ygar
Total
Unregtrlcted Iwid8
General
3,003.151
1,103.739
190,781)
4,016,109
Resirfcted funds
Arts trall
59,731
59.731
Tolal funds
3,003.151
1,163,470
(sYI.7811
4,075,840
Page 25

THE PATCH FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2DrJ
17
C•¥h outflow Irom oporjtlng I￿1vItI
Nel movement in funds
Depreciation of langlble fixed assets
Ilncreas81 I decrease in debtors
DeoToase l {Increase} In stock
(Decrease) I Incroase In credllors
1,845,332
159,798
1296,659)
2,430,508
162.530
1177.7881
13,5001
136,535
1140,753)
1.367,718
2,548.285
Anal￿1# ol ca•h •nd eo•h •qulv4lents
Brought
lorward
Co•h
Flow
Non-cagh
Ch4nge8
Al 31 Decomb•r
2023
Ca8h al bank and
Sn hand
85
Total
178,410
507.113
685,Sfd
19
8u•Sn•M combln8llon• and goo(hvlll
On 31 DocBmt4r 2021 Th& Patch Foundatlon CIO a¢guirod the 8nllTe Bhare capltal ol Courtx Ltd lor
11 consSderalion.
Rgcognl8gd amounts ol thnufiablg fjS$gts a¢qulred and
Ilabllltl85 assumgd
Book Valu•
F•lr Valu•
TaThJlble Ilxgd assets
2,232,900
2,232,900
Current a888ts
Total a888ts
2.303,818
2,303,318
Nel Ilabllltles
1212,3811
1212,3811
Total ￿￿en￿lIable net assets
2,090,937
2,090,937
Exce8S Ot consideratlon ov81 lair value of a88ets
{2,090,937)
Toiat purchow consldor•llon
Paoe 26

THE PATCH FOUNDATION cro
NOTES TO THE FINANCIAL sfATEMENT8
YEAR ENDED 31 OECEMBER 2023
Oporallng l•a60 commltrnènts
Ai the year end the group had to1￿ commitments under coeratlng leases explrlng after mor&
than 15 years of £159.16712022: £169,167>.
21
P•n*lon eommttn￿I
I stall are elFglble lor employers, penslon contrfbutlons lo be paid to a stakeholder or
equlvalent ¢onlribulory personal p8nslon scheme. wlth the level ol conlrfbuiion dependlng on
their own level ol contrfbulion. The Chartty and Ils subsidiary have no Ilablllty beyorKI Ihe
payment ol Ils agreed monthly contribution8.
The tolal penslon Charge for th8 year was £7,26312022: £7,652). The amwnl outstandlng at
th6 year-end was £1.44712022: £985).
Tru•t•• èxponw•
No Trustee expenses were Incurred Sn the year.
23
Relotod party tranMctlon•
Durtng Ihe year under revSew A Ball, Trustee of The Patch Foundatlon CIO and dlrg¢tor of
Courtx Ltd made donatlon8 to the charlty 011,651,401 12022.. £688,1871.
Loans prevlou51y made by A B811 lo Courtx Lld amounllng to £173,002 were walved In the
year under review (2022.. £95.000 was walvedl. As at 31 December 2023 Courtx Llmrted owed
A Ball £NII12022: £173,002 was owed lo A Ball).
Opgratlng l&ase8 entered Into by Courtx Ltd were guaTanteed by A Ball, dlrector of Courtx
Ltd.
Ultknfit• ¢ontrolllng pgty.
The Patch Foundallon CIO18 controlled by Its Board of Tru8tees.
Pag8 27