2025-02-03-accounts

CC FOUNDATION

(Registered Charity No. 1196606)

REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 FEBRUARY 2025

CC FOUNDATION REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 FEBRUARY 2025

Contents

	Page
Legal and administrative details	1 - 2
Independent examiners’ report	3 - 4
Statement of financial activities	5 - 6
Balance sheet	7 - 8
Notes to the financial statements	9 - 13

Legal And Administrative Details

Legal Status

The CIO was established on 4 February 2021 and obtained recognition by the Charities Commission on 16 November 2021.

Charity Registration Number : 1196606 Registered Office : Independent Examiner: 18 Eltham Road Gareth Murfin London Whitemoor Business Management & Royalties LLP SE12 8TF 5th Floor 111 Charterhouse Street London EC1M 6AW

Principal Banker: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ

Trustees:

Charles Harding – appointed 1 February 2023 Tanecha Engeln-Ismond – appointed 9 April 2024 Ferdinand Magar – appointed 9 April 2024

Appointment of Trustees

The first charity Trustees are appointed for a term of 5 years. Subsequent charity Trustees are appointed for a term of 3 years by resolution passed at a property convened meeting of the charity Trustees.

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Restrictions of Charity’s Operations

The objects of the CIO, to be carried out in the London Borough of Lewisham, are: 1) To act as a resource for young people up to the age of 30 for the public benefit by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: (a) advancing in life and helping young people by developing their skills, capacities and capabilities.

2

Independent Examiner’s Report To The Trustees Of CC Foundation

I report to the charity trustees on my examination of the accounts of the above charity for the year ended 3 February 2025.

Respective responsibilities of trustees and examiner

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

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.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

I confirm that no other matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in accordance with section 130 of the Charities Act; or

2. the accounts do not accord with those records; or

1. the accounts do not comply with the accounting requirements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

2. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

3

Independent Examiner’s Report To The Trustees Of CC Foundation (continued)

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Gareth Murfin FCCA Whitemoor Business Management & Royalties LLP 5[th] Floor 111 Charterhouse Street London EC1M 6AW Dated: 3 December 2025

4

STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted	Restricted	Total
	Funds	Funds	Funds
	2025	2025	2025
Income and Expenditure	£	£	£
Incoming Resources:
Donations	115,626	-	115,296
Services	24,000	-	21,000
Turkey drive income	-	15,000	15,000
Grant income	22,500	10,000	36,430
Interest received	77	-	77
	_		_
Total incoming resources	162,203	25,000	187,203
	_		_
Resources Expended
Direct expenses	7,218	-	7,218
Depreciation	2,122	-	2,122
Closing stock	(5,000)	-	(5,000)
Travel and subsistence	124	-	124
Consultancy	17,329	-	17,329
Advertising	556	-	556
Accountancy	4,810	-	4,810
Bank charges	131	-	131
Turkey drive costs	-	36,585	36,585
Subcontractors	2,350	-	2,350
Office expenses	12,681	-	12,681
Print, post and stationery	205	-	205
Incentives	8,332	-	8,332
Insurance	382	-	382
Merchandise	9,000	-	9,000
Motor vehicle expenses	25,009	-	25,009
Computer running costs	109	-	109
Website costs	559	-	559

5

Workshops 12,576 Rates 1,550 Rent 14,125 Storage costs 468 Repairs and maintenance 2,169 Subscriptions 194 Penalties and interest 2,292 _ Total resources expended 119,291 _ Net Incoming Resources for the year 42,912 Fund balance brought forward at 3 February 2024 6,225 Transfer between funds (20,070) __ Fund balance carried forward at 3 February 2025 29,067	- - - - - - - 36,585 (11,585) (8,485) 20,070 -		12,576 1,550 14,125 468 2,169 194 2,292 _ 155,876 _
		_	31,327 (2,260) -
			_ 29,067

All of the activities of the charity are classed as continuing.

The charity has no recognised gains or losses other than the results for the period as set out above.

6

BALANCE SHEET

Fixed Assets Current Assets Bank accounts Stock Current Liabilities Taxation and social security Accruals Net Assets Funds Unrestricted Funds Restricted Funds	2025 £ 5,618 54,987 5,000
	65,605
	31,028 5,510
	36,538
	29,067
	29,067 -
	29,067

7

The financial statements were approved by the Board of Trustees on ………………………….. and signed on their behalf.

…………………………………………………. Tanecha Engeln-Ismond Trustee

The notes on page 9-13 form part of these financial statements.

8

Notes to the Financial Statements

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of accounting

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 (FRS 102) (“SORP(FRS102)”) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), as amended by the Bulletin issued in February 2016, the Companies Act 2006, and applicable UK Accounting Standards.

CC Foundation meets the definition of a public benefit entity under FRS 102. Advantage has been taken of the exemption for charities with income less than £500,000 from preparing a cash flow statement under SORP (FRS 102) Update Bulletin 1 issued in February 2016.

The financial statements are prepared in Sterling, which is the functional currency of the charity.

Going concern

CC Foundation currently has sufficient cash reserves to fund its activities and is confident that it remains a going concern.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

Income

All income is included in the statement of financial activities when the charity is entitled to the income, it is probable the income will be received and the amount can be quantified with reasonable accuracy.

Expenditure

Liabilities are recognised as an expense as soon as there is a legal or constructive obligation committing the charity to the expenditure. Expenditure is accounted for on an accruals basis.

Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

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Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call at banks, and bank overdrafts.

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 amortised cost using the effective interest method. The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12' Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Notes to the Financial Statements for the Year Ended 3 February 2025 (continued)

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Grants

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognized as income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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2. Income

2. Income
	Unrestricted	Restricted	Total
	Funds	Funds	Funds
	2025	2025	2025
	£	£	£
Donations	115,626	-	115,296
Services	24,000	-	21,000
Turkey drive income	-	15,000	15,000
Grant income	22,500	10,000	36,430
Interest received	77	-	77
	_	_	_
	162,203	25,000	187,803
	_	_	_

3. Net expenditure for the year

This is stated after charging: Independent Examiners fee

2025 £ 1,500 =====

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Notes to the Financial Statements for the Year Ended 3 February 2025 (continued)

4. Corporation taxation

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. No tax charges have arisen in the Charity.

5. Creditors: amounts falling due within one year

5. Creditors: amounts falling due within one year
	2025
	£
Taxation and social security	31,028
Accruals and deferred income	5,510
	_____
	36,538
	=====

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Notes to the Financial Statements for the Year Ended 3 February 2025 (continued)

6. Analysis of movements in funds

	At 3 February 2024	Income	Expenditure	Transfers	At 3 February 2025
Unrestricted funds:
General funds	-	162,203	(119,291)	(13,845)	29,067.
Restricted funds:
Turkey project	(7,260)	15,000	(36,585)	13,845	(15,000)
Kitchen renovation project	5,000	-	-	-	5,000
Office relocation project	-	10,000	-	-	10,000
	_____	______	_	_____	_____
	(2,260)	187,203	(155,876)	-	29,067.
	_____	______	_	_____	_____

Name of fund

Description, nature and purposes of the fund

Unrestricted funds:

General fund

The “free reserves” of the charity.

Restricted funds:

This represents the Christmas Turkey distribution project which the charity undertook in a prior year. This also represents the funding for a food bank and soup kitchen, this project commenced in April 2024. This also represents the funding for the office to be moved to a different location, this project commenced in November 2024.

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7. Ultimate controlling party

In the opinion of the Trustees there was no one ultimate controlling party during the period.

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