## **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. 

1 



## **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 

3. 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 

4. 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<br>12,576<br>Rates                                                                                             1,550<br>Rent<br>14,125<br>Storage costs<br>468<br>Repairs and maintenance<br>2,169<br>Subscriptions<br>194<br>Penalties and interest<br>2,292<br>_______<br>**Total resources expended**<br>119,291<br>_______<br>**Net Incoming Resources for the year**<br> 42,912<br>Fund balance brought forward at<br>3 February 2024<br>6,225<br>Transfer between funds<br>(20,070)<br>________<br>**Fund balance carried forward at**<br>**3 February 2025**<br>29,067|-<br>-<br>-<br>-<br>-<br>-<br>-<br>36,585<br>(11,585)<br>(8,485)<br>20,070<br>-|<br> <br>|12,576<br>1,550<br>14,125<br>468<br>2,169<br>194<br>2,292<br>_______<br>155,876<br>_______|
|---|---|---|---|
|||<br> <br> <br>_<br>|<br>31,327<br>(2,260)<br>-<br>|
||||_______<br>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**<br>**Current Assets**<br>Bank accounts<br>Stock<br> <br>**Current Liabilities**<br>Taxation and social security<br>Accruals<br>**Net Assets**<br>**Funds**<br>Unrestricted Funds<br>Restricted Funds|2025<br>£<br> 5,618<br>54,987<br>5,000|
|---|---|
||65,605|
||31,028<br>5,510|
||36,538|
||29,067|
||29,067<br>-|
||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. 

9 



## **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. 

10 



## **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 ===== 

11 



**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|
||=====|



12 



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

## **6. Analysis of movements in funds** 

||At 3 February<br>2024|Income|Expenditure|Transfers|At 3 February<br>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|<br>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. 

13 



## **7. Ultimate controlling party** 

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

14