2024-12-31-accounts

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THE BECS FOUNDATION

Unaudited financial statements For the year ended 31 December 2024

THE BECS FOUNDATION

Contents Directory Chair's report Trustees’ Report - Financial review and reserves policy Statement of Financial Activities Balance Sheet Notes to the financial statements	PAGE
	1 3-6 7-9 10 11 12-14

THE BECS FOUNDATION

Date of registration	23 November 2021
Charity registration number	1196736
Organisation type	CIO
Gift aid	Not recognised by HMRC for gift aid
Policies	Bullying and harassment policy and procedures
	Campaigns and political activity policy and procedures
	Complaints policy and procedures
	Engaging external speakers at charity events policy and procedures
	Financial reserves policy and procedures
	Internal charity financial controls policy and procedures
	Internal risk management policy and procedures
	Investing charity funds policy and procedures
	Safeguarding policy and procedures
	Serious incident reporting policy and procedures
	Social media policy and procedures
	Trustee conflicts of interest policy and procedures
	Trustee expenses policy and procedures
What the charity does	General Charitable Purposes
Who the charity helps	Children/young people
	Other Charities or Voluntary Bodies
	The General Public/mankind
How the charity helps	Makes Grants To Individuals
	Makes Grants to Organisations
Where the charity operates	Throughout England and Wales
	Northern Island
	Scotland
	United States
Chair	(i) Cristiana Falcone
Trustees	(i) Katherine Elaine Wainman
	(ii) Nicola Christine Brentnall
Principal office	73 Powis Square
	London
	W11 2BN

Chair's report For the year ended 31 December 2024

At the heart of our work lies a simple but profound conviction: hope is not just a feeling—it is an action. It is a deliberate choice to believe in better, to invest in people and ideas, and to work toward a future that affirms dignity, justice, and possibility for all.

Thalia Mavros opens this year’s report with her interpretation of hope – as a stubborn and dynamic act, not a supplicant of fortune. An act against powerlessness and for a better world. This is where our philanthropy begins.

At BECS Foundation, we see the emblems of hope in lives of people who keep showing up for better, even when their lives are blighted by injustice, by abuse, poverty or discrimination. Furthermore, it is our conviction that those most affected by poverty, discrimination, or lack of opportunity are not passive recipients of charity, but partners in change.

For us, giving is not simply about charity or philanthropy—it is about solidarity. It is about recognising the potential in people and in communities and helping to create the conditions where that human potential can flourish.

This past year, through every grant we made and every relationship we deepened, we acted on these principles. We believe in giving that empowers. Giving that begins with trust and respect. Giving that creates space for communities to realise their full potential—even in the face of persistent challenges like poverty, discrimination, abuse of power, and lack of access to decent work, education, and healthcare.

We are proud to support those who take risks others won’t—organisations and individuals addressing deeply rooted issues with courage, creativity, and determination. Their work may not always be easy to measure or quick to scale, but it holds the power to ignite lasting change. We see it as our role not only to fund such efforts, but to stand beside them, amplifying their vision and investing in their long-term success.

Our own approach is intentional and principled. We are agile and prudent—keeping administrative costs to a minimum while ensuring our governance is strong and our endowment well stewarded. This allows us to do more with less, and to plan for the future with confidence and responsibility.

I am especially grateful to my fellow trustees for their unwavering commitment. Their stewardship, thoughtfulness, and shared sense of mission help ensure that every decision we make reflects our core values and the communities we serve.

To our partners—thank you. Your trust in us, not just as recipients but as allies, is what makes this work meaningful. You remind us that we are part of something larger: a community bound not by transactions, but by shared values and collective action.

We remain determined to ignite, preserve, and enhance hope—through every decision we make, every risk we help others take, and every opportunity for action we help unlock. Together, we are building a future where human ingenuity powered by hope becomes a force for transformation.

With gratitude and resolve, Cristiana

THE BECS FOUNDATION

Chair's report

For the year ended 31 December 2024

MISSION

Our mission is to remain energetically hopeful and loyal to those with whom we work, moving together towards a future that affirms dignity, justice and possibility for all.

We act in solidarity with those who use their experience, talent and insight to bring about an end to injustice, always, bravely, against the odds.

Those we fund and work alongside are fighting poverty, attitudes towards sex or gender that hold women back and the tyranny of domestic abuse.

CONTAGIOUS GIVING

We know the power of philanthropy to drive change for all those involved. The act of benefit does not flow one way, from donor to recipient – but both ways, quickly, profoundly, in ways that touch and change us all.

The power of this is enormous and if done well, can set of a chain reaction of contagious giving, bringing like-minded funders to the table.

We select initiatives and organisations that demonstrate innovation, that are open to the leverage our networks can bring and that have a tangible, uncompromising and proven interest in creating hope and positive impact for the communities that, together, we serve.

We are interested in bringing other funders to the table, not through the old “matching” model but through bridging funding – that is, we fund where there is a key gap in operational cost that is holding an organisation back from rapidly achieving its goals. We don’t wait for others to match us before giving – rather, we give on the understanding that other gifts can be directed to boost and sustain the pot beyond our investment.

We share our networks and our knowledge – in particular in investment methods that can unlock even more money for causes from the grants we give.

ACHIEVEMENTS

This year, we have made significant strides in our efforts to support marginalised communities and promote gender equity within the arts and beyond.

One of our notable achievements has been our continued support of The Glover Edwards Programme at the Royal Academy of Music. Originally conceived by Sian Edwards, this initiative is dedicated to encouraging, training, and supporting female conductors, helping to elevate them into the top echelons of the profession. Through mentorship, workshops, and performance opportunities, we are proud to contribute to a more diverse and inclusive music community, ensuring that women's voices are not only heard but celebrated.

Sian Edwards – reflection on the Glover-Edwards Programme

The idea for this course came about because I was frustrated that lots of women were applying for the Academy’s Master’s in Conducting, but very few were as good as their male colleagues when it came to the live auditions. Instead of offering scholarships to encourage women to apply – which was not the real issue at play – I thought it would be much better to address the situation by providing additional coaching and mentoring for women thinking of applying for an MA – and not necessarily at the Academy – so that they would become genuinely more able to compete at auditions for the few places there are to study conducting.

Here is where Cristiana Falcone stepped in, as someone wanting to support the development of women in the arts, and the Sorrell Women Conductors Programme was born – which, with the wonderful support of the BECS Foundation and the addition of Jane Glover to the faculty, has become the Glover-Edwards Conducting Programme.

The course has been deliberately designed to fit into a student or working person's schedule, with one longer weekend in early September and three short weekends dotted through October to January each year.

We usually have around 35 people applying each year – but we keep the initial process simple and select from these applications 12 people to attend the longer weekend in September, which is a trial session for all involved, so we can assess who might progress through to the subsequent three weekends.

THE BECS FOUNDATION

Chair's report

For the year ended 31 December 2024

During this weekend we have sessions where everyone conducts two pianists before meeting the orchestra, in music I have selected. We also have time for discussions on how to prepare classical scores, and wonderful bodywork classes with renowned trainer Alma Sheehan.

In recent years I have been joined for this first weekend by Alice Farnham, who has been instrumental in setting up training and workshops for female conductors of all levels and ambitions.

A maximum of six people continue who, as for the first weekend, are fully supported in their travel and hotel costs, no matter where they are from. The fact that the BECS Foundation covers the cost of the course itself means there is no financial barrier stopping these young people from accessing what the Academy has to offer. We have had participants from as far away as Japan, Malaysia, Israel, Greece, Germany, Croatia, France – as well as many from the UK.

Over the years I have witnessed an exponential rate of development in female conductors. Our first courses included people who had very limited experience prior to joining the Programme, and who typically lacked confidence and clarity in their musical ideas.

Now, it's as if women have suddenly woken up to the fact that they can have strong musical ideas, believe in themselves and share their love of music, their knowledge and imagination with others. At the same time conducting itself is evolving fast – the old autocratic structures where the conductor was in control of everything, including paying the players, are largely over, and a much more collaborative style of working has become more the norm. This doesn't mean a lack of leadership – another area that the Programme explores – but shows that leadership through musicianship, imagination and the skills of communication is how a career as a conductor is built.

I am delighted to say that a number of people who have taken part in the Glover-Edwards Programme have taken up Master’s places, and this year both the incoming MA conductors at the Academy, Nika Kozar and Daphne Delfas, have been previous participants on the Programme, showing that women are now competing for places absolutely as equals to their male counterparts.

Sian Edwards

In addition, we have initiated a promising relationship with King’s College, London. This collaboration allows us to explore their impactful research and programmes centred on violence against women and girls. By aligning our efforts with academic institutions, we can deepen our understanding of the issues at hand and develop more effective interventions. Our aim is to leverage this partnership to inform our funding priorities and support initiatives that directly address the challenges faced by women and girls in vulnerable situations.

Thanks to your continued support, VAMHN has grown as a survivor-centered, cross-sector network committed to improving mental health outcomes for those affected by domestic and sexual violence.

Over the past six months, we’ve made significant strides in strengthening survivor leadership, co-producing new research, and supporting early career researchers.

Your backing has also been instrumental in helping us secure new funding. Notably, we received National Institute of Health Research (NIHR) support for a study exploring pathways to mental wellbeing after coercive control. We have also secured UK Prevention Research Partnership (UKPRP) funding for a study looking at how interactions with the justice system influence mental wellbeing after domestic abuse.

Both studies have been developed with members of our Lived Experience Action Group who will be supported to collect and analyse research data as peer researchers and to co-author outputs.

We’ve also advanced work on emotional safety in academic settings, creating a practical toolkit for violence and abuse conferences, developed through both lived and professional insights from researchers. Further details on these projects are included in the pages that follow.

Supporting the next generation of leaders in this field remains a core focus. Our placement programme continues to offer students opportunities in training, authorship, and public engagement.

We are truly grateful for the BECS Foundation’s ongoing partnership. Your support is crucial to our ability to innovate, respond to emerging priorities, and centre survivors’ voices in everything we do.

Dr Sian Oram, Reader in Women’s Mental Health, King’s College London and Director of the Violence, Abuse and Mental Health Network

THE BECS FOUNDATION

Chair's report

For the year ended 31 December 2024

FUTURE PLANS

We are looking in detail at making grants to two organisations that face an unexpected funding gap. We will consider supporting The Paley Center for Media and Tufts University to support these institutions’ educational initiatives, research projects and community outreach programmes. If approved, these grants will be made available in the next financial year.

Cristiana Falcone

Chair of the Board of Trustees of The BECS Foundation

THE BECS FOUNDATION

Trustees’ Report - Financial review and reserves policy For the year ended 31 December 2024

The trustees are pleased to present their reported and unaudited financial statements for the year ended 31 December 2024.

STRUCTURE, GOVERNANCE AND TRUSTEES

The Charity is a Charitable Incorporated Organisation (CIO) with an association Governing Document. This was registered on 23 November 2021.

The Charity is managed by its trustees, of which the Constitution provides there must be a minimum of three at all times. All three current trustees served throughout the period of this report: Ms C Falcone, Ms N Brentnall, and Ms K Wainman. Ms Falcone served as the Chair throughout the period.

The trustees of the Charity are also its members. Under the constitution, certain key decisions relating to the fundamental structure of the Charity are required to be taken at a meeting of the members, but most day-to-day decisions and general management of the Charity are undertaken by the trustees in their capacity as such.

The original (and current) trustees were appointed by the Chair, as the Founder of the Charity, based on their skills, knowledge and experience that contribute to the effective administration of the Charity. The future appointment of any new trustees, in accordance with the Constitution, would be based on demonstrating the same criteria to encourage strong governance.

The trustees are in regular contact with one another to informally discuss matters relating to the Charity. Any matters to be brought before a formal meeting of the trustees are done so for due consideration, and any trustee is entitled and empowered to call such a meeting.

OBJECTIVES

The objectives of the Charity are deliberately broadly defined in the Constitution so as to allow the trustees to exercise their discretion for the benefit of purposes that are exclusively charitable under the law of England. Naturally, the trustees do have areas on which they wish to focus their efforts, and these are discussed further below.

The trustees referred extensively to Charity Commission guidance on public benefit when deciding upon and defining the Charity's objectives, and will continue to do so as they prepare for future activities.

HISTORY AND FINANCIAL POSITION OF THE CHARITY

The Charity was established by the Founder, Cristiana Falcone, to further pursue her previous philanthropic endeavours alongside a new team who collectively bring rigour, enthusiasm, diversity of thought and strong governance to the table. However, Ms Falcone is clear that all trustees should have the ability and empowerment to put forward for consideration matters that are of interest to them and that are in line with the Charity's objectives.

In this reporting period, the Foundation experienced limited activity as we awaited a financial settlement that was critical for our future grant-making initiatives. Although a percentage of this settlement was received outside the accounting period, we are optimistic that this will enable us to commence grant-making in earnest from 2024. Despite these challenges, we are pleased to report that the Foundation awarded a grant to The Glover Edwards Programme, reflecting our ongoing commitment to supporting impactful projects. Additionally, Ms Falcone generously contributed a substantial sum of her own funds to initiate our relationship with King's College, laying the groundwork for future collaborations. We are hopeful that these early efforts will pave the way for more robust engagement and meaningful contributions in the year ahead.

It should be noted that the Charity received funding, as part of an arrangement explained to the Charity Commission, after the period of this report. Considerable further funding is anticipated in due course. This will be covered in detail in next year's report, but it bears brief mention here in order to clearly demonstrate the extensive preparatory work undertaken by all the trustees, under the guidance of Ms Falcone as Chair, during this period in readiness to fully move ahead with its philanthropic activities. As such, and as set out in the Statement of trustees' responsibilities in relation to the financial statements, the financial statements of the Charity for this period have been prepared on the going concern basis.

THE BECS FOUNDATION

Trustees’ Report - Financial review and reserves policy For the year ended 31 December 2024

FUTURE PLANS

In her previous philanthropic work, Ms Falcone gave extensive support to a number of causes close to her heart and which the trustees collectively consider are wholly worthy of continued support. During the preparatory phase of the Charity’s life, it has entered into productive, meaningful and encouraging discussions with the Royal Academy of Music to support a programme for talented female conductors; King’s College London regarding support for those experiencing domestic violence; and the United Nations High Commissioner for Refugees (UNHCR) in the UK.

It is difficult to recall a time in recent memory of such global turmoil, mass displacement of people and economic hardship. The world continues to experience the impact of Russia’s invasion of Ukraine; not only the devastating impact and loss of life amongst the millions of innocent civilians caught in a brutal war from which many are unable to escape, but the knock-on impact to the global economy.

In the UK, The Trussell Trust distributed almost 3,000,000 emergency food parcels through its network of food banks in the year to 31 March 2023, and they report that December 2022 was its busiest month on record - with an emergency food parcel being distributed every 8 seconds (1) . And these statistics relate only to the network of Trussell Trust food banks in the UK; they do not take account of the many more charitable and independent organisations working towards the same aim.

Relaying global atrocities to the world is becoming ever-more dangerous, with the Committee to Protect Journalists reporting that, worldwide, 363 members of the press were imprisoned - a staggering year-on-year increase of 20% to a new global high (2).

These are but a handful of reasons why The BECS Foundation and its trustees are so driven to bring meaningful change to a world so reliant on the charitable sector, particularly in situations where governments cannot (or will not) step in to plug the many gaps. Although the objectives of the Charity are widely drawn, there are key themes the trustees intend to examine and address in the periods following this initial preparatory phase:

Initiatives to be supported by the trustees should be sustainable. This does not (necessarily) mean in a climate context, though this is doubtless a factor the trustees will take into account. Rather, it means that causes and projects should be capable of standing on their own two feet and not be wholly reliant on grant funding. This is to promote and strive for independent action by as many charitable organisations as possible, with solid plans to make meaningful differences under their own steam.
The trustees will consider supporting charitable organisations and causes in particular that meet or further the needs of specific groups in society that are traditionally underrepresented. For example, this may be women and girls, particularly in education and STEM subjects; individuals who identify as members of the LGBTQ+ community, which continues to experience a saddening increase in violent hate crime across the United Kingdom; or those women and men experiencing or recovering from the deep psychological toll of coercive and controlling relationships.
https://www.trusselltrust.org/news-and-blog/latest-stats/end-year-stats/ 2. https://cpj.org/reports/2022/12/number-of-jailed-journalists-spikes-to-new-global-record/
Although each qualifying application will be considered on its own merits, the trustees have a strong desire to adhere to principles of social mobility, tackling injustice, economic empowerment and equality for all - regardless of gender, race, sexuality, political views, religious beliefs or any other
- characteristic that may all too often be seized upon, consciously or otherwise, to prevent the movement towards a truly free and equal global society.

The next phase

The next trustee report will go into further detail on the Charity's investment policies, operating model, qualification criteria for potential applicants and, most importantly, causes that are now (after the date of this report) being supported by the trustees.

THE BECS FOUNDATION Tru te, R Fin For the ear ended 31 Decemb T 2024 or srATEMENTOFTRUSTEES' RESPONSIBILITIES IN RELATION TOTHE FINANCIAL STATEMENTS Thetrustees areresponsiblefor preparlngtheReport of theTrvslees and thefinancial staternents in accordancewith applicablelèw and Unlted Kingdom ActountingStandard5 (United Kingdom Generally Accepted Accounting Practice), including Flnanclal Reportlngstandard 102'The Flnantial Reporting Standard applicable in theUK and Republic of Ireland,. The law applicable to charities in England and Wale5, theCharitiesAcl 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution requiresthe trustees to preparefinancial statementsfor each financial yearwhich give a trueand fair view ofaffairs of thecharity and of the incoming resources and application of re50urce5, includingtheincome and expenditure, ofthecharity for that period. In preparing thosefinancial statements. thetrusteesare required to.. select suitable accounting policies and then applythem consistentlv,. observèthe method5 and principle5 in the Charitie5 SORP IFRS 1021; makeludgements and estimatesthat are reasonable and prudent,. statewhether applicable UK accauNtin8 Standards have been followed, subject to any mateiial departures disclosed and explalned in thefinancial statemènts,. preparethefinancial statements on the8oin8 concern ba515 unle55 it is inappropriateto pre5umethat thecharity will continue In business. TheTrustee5 are responsiblefor keepingadequate accounting records that aresufficient to show and explain thecharitvs transactions, disclosewith reasonableaccuracy at anytimethe financial position of the charity and enablethem to ensure that thefinancial statementscomply with the provisions of the Charity's constitution. They are also responsible for safeguardingthe assets of thecharily and hencefor taking reasonablestepsforthe prevention and detection of fraud and other irr%ularities. APPROVED ot) behalf of the Board ofTrustees Cristiana Falcone Chair of the Board Nicola Christine Brentnall Trustee Katherine Elainewainman Trustee Date.. 14 October 2025

THE BECS FOUNDATION

Statement of Financial Activities

(including income and expenditure account) For the year ended 31 December 2024

Income Notes Income from charity activities Grants Exchange difference Investment income: Bank interest Total income Expenditure Expenditure on general activities: Accountancy fees Bank charges Exchange difference Expenditure on charitable activities: Donations Total expenditure Net (loss)/profit Reconciliation of funds Total funds brought forward Total funds carried forward	£ (3,000) - - (109,859)	2024 £ - 39,338	2024	2023 901,223 -
		39,338 946		901,223 7,395
		40,284 (112,859)		908,618 (6,000) (1) (5,643) (19,789)
				(31,433)
		(72,575) 877,185		877,185 -
		804,610		877,185

THE BECS FOUNDATION Z024 2023 te5 Flxed assets Quoted investments 806,134 821,668 Current assets Cash at bank and hand 1,476 58,517 Credltors: amountsfalllng duewlthln oneyear 13,0001 13,0001 Net current assets 11,5241 55,517 Net assets 804 610 877 185 The furtds ofthe tharity Unrestricted Incomefunds 804,610 877,185 Total charltylunds 804 610 877 185 Thenotesat paEe5 8 to 10 form part of the*financial statements. Approved by theTrustees on and signed on their behalf bv: Crlstiana Falcone Chalr

THE BECS FOUNDATION

Notes to the financial statements

For the year ended 31 December 2024

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with the Charities SORP FRS 102 applicable to charities preparing their accounts in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Preparation of the accounts on a going concern basis

After making enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial. There are no material uncertainties casting doubt on going concern.

DEPRECIATION

Depreciation is provided at a rate calculated to write off the excess of cost over estimated residual value evenly over the estimated useful economic lives of each class of asset, subject to annual review.

INCOME

Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

the charity becomes entitled to the resources;
it is more likely than not that the trustees will receive the resources; and
the monetary value can be measured with sufficient reliability.

Running events

Income is included when receivable by the charity, the point at which it becomes certain. Due to the nature of the London Marathon fundraising it can take several months for all related income to be collected.

Donations

These are generally included when received by the charity, since it is virtually impossible to be certain of the income before this point. Gift aid recoverable on donations received is included once this can be quantified with reasonable certainty.

Legacies

These are included once the charity's legal right to the legacy has become clear and once the legacy can be quantified with reasonable accuracy.

Gramts from charitable foundations

These are recognised as income when receivable unless specific conditions need to be met, and which suggest the grant should be deferred.

THE BECS FOUNDATION

Notes to the financial statements (continued)

For the year ended 31 December 2024

EXPENDED RESOURCES

Liabilities

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Expended resources are, as far as is possible, included in the period to which they relate. All expenditure is accounted for on an accruals basis and the majority is directly attributable to specific activities. Other indirect costs are apportioned to activities in accordance with staff activity and an assessment of where the resources have been applied.

All expenditure is classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities in accordance with staff activity or an assessment of where the resources have been applied.

GOVERNANCE AND SUPPORT COSTS

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

FUNDS

The Funds held by the charity are: -

Unrestricted funds

These are funds which can be used in accordance with the charitable objects, at the discretion of the trustees.

Designated funds

These are restricted funds earmarked by the trustees for particular purpose.

GOING CONCERN

We have adequate financial resources and are well placed to manage the business risks. Our planning process, including financial projections, has taken into consideration the current economic climate and its potential impact on the various sources of income and planned expenditure.

Our cash deposits could easily be drawn down should working capital be required. We believe that there are no material uncertainties that call into doubt the charity’s ability to continue. The accounts have therefore been prepared on the basis that the charity is a going concern.

THE BECS FOUNDATION

Notes to the financial statements (continued)

For the year ended 31 December 2024

2 GRANTS PAYABLE

Grants payable include grants/donations made direct to individual families to improve the quality of their lives. Other charitable grants and donations includes money donated towards for medical research into medical conditions.

2024 £ 806,134	2024 £ 806,134	2023 £ 821,668
	2024 £ 1,356 6 114	2023 £ 58,415 - 102
	1,476	58,517
	2024 £ 3,000	2023 £ 3,000
	3,000	3,000
General fund £ 877,185 (72,575)		Total £ 877,185 (72,575)
804,610		804,610

THE BECS FOUNDATION

Directory

Chair's report For the year ended 31 December 2024

Chair's report

MISSION

CONTAGIOUS GIVING

ACHIEVEMENTS

Sian Edwards – reflection on the Glover-Edwards Programme

Chair's report

For the year ended 31 December 2024

Sian Edwards

Chair's report

FUTURE PLANS

Cristiana Falcone

STRUCTURE, GOVERNANCE AND TRUSTEES

OBJECTIVES

HISTORY AND FINANCIAL POSITION OF THE CHARITY

Trustees’ Report - Financial review and reserves policy For the year ended 31 December 2024

FUTURE PLANS

The next phase

Statement of Financial Activities

Notes to the financial statements

1 ACCOUNTING POLICIES

a) Basis of preparation

b) Preparation of the accounts on a going concern basis

DEPRECIATION

INCOME

Recognition of income

Running events

Donations

Legacies

Gramts from charitable foundations

Notes to the financial statements (continued)

EXPENDED RESOURCES

Liabilities

GOVERNANCE AND SUPPORT COSTS

FUNDS

Unrestricted funds

Designated funds

GOING CONCERN

Notes to the financial statements (continued)

For the year ended 31 December 2024

2 GRANTS PAYABLE