FutureDotNow Annual Trustee Report and financial statements Finanoal year ending 30th September 2023
TABLE OF CONTENTS Referen and administrative detsils................................................................................... Objectwes and activities ....................,.................................................... . .......................... perfonnan and achtevements ................................................................................... ...... Financial review.......... Plans for future periods........................................................................................................ Structure, governan, and management............................................................................ Independent Examiner"s ReFM)rt.. 11
The trustees present their report and the financial statern of FuiureDotN¢)w for the Wkid ended 30 September 2023. Reference and administrative details Rwistered charity name FlrtureDOC144 Charity registralion number 1197358 Registered offic8 MineNa House Edmund Halley Roaj Oxford Business Pa Oxford OX4 4tX2 Trusteès Sir Peter Estlin Camilla Djer Jemma Waters Aidan Hancock Chair {appointed 22.1.24) Independent Examiners of Accounts Goltr*ins Limited 75 Maygrove Ro West Hampstead London NVI6 2EG Bank HSBC Business Bank
Objectlves and activities FutureDotNow was established in October 2019 and oterated as a cA)Ikn#Fve. incubaled by Nominet. up until 5th Januay 2022, when we gaRHI charilable status. The charity's purpo88, a8 Set out in rt$ Constiiutm. l• to advan UcatIon for the publlc benefit In the 11old of dlgltal 8kllls. We b8lleve in a UK with a dlIa1 confident and capable workfm in whh everyone is able to do all 20 digital tasks essent1 for work and prepare for our digtsl future. Our goal Is to inspire and enabl8 business8S to provKle wOrk9-3e adulls (starting with thew (Avn workforce) wrth the opportunities thay need lo get to th8 dlg61al starting line, benefiting thair cywn prospenty and UK productivity. FutureDotNvw has become a leadin9 auth(yty on th8 dwJital skllb of the UK'S workforce. Our expert underslandlng of the Essential Digilal Skil15 gap in the UK and relationships with organisations across many sectors altows us to narrate the challenge face, provide authoriiali¥e insight, and put for4vard practical solutions to close the gap Our strong INiks with busness18aders, wlicymakers. and expert8 from a wide range of organisatK>ns pFace us at the centre of a powertul nets¥ork. We use this position to coordinate collective action. share leamings and resources. and conne( organisatK)ns who can support each other. Core to our mission is to inlluence busln8ss Alon. public polLy and indwidual behaviour, all with the alm of attler8ting kjng-twm progr086. Why th18 matt•rn Our society and econory cannot dlgttalty transform wiihoul a digitalty confident and capable WOTkforce. Digrtal technology do8snl deliver change or guarantee pyoductrwity. That ¢om88 from good design and great adoptlon; people uslng technokngy effectNety. The rapKI rise of artffal Intellige {Al) adds urgency. A dwJitalty Capable Workf WMI s8re ec)nomic 0pp(tUnit ts all and ensure the UK keeps pace wllh Ihe rest of Ihe W1. It w1 also fTh1fy agalnst cybw threats. reducing rtsks for individuals and companies alike. Today, over half of working adults1 cannot perfomi al 20 dlgital las industy and govemment agreo are vital for ti)day's workplace. Thafs &22 milllon adutt8 unable to do things h'ke check a paysllp online, get secure passwords. or use dlIa1 to improve productivty. These skilts gaps cut across the workforce, including high eamers and those wrth high levels of education . Most peopte In the worklorce have not been taught th8se skills in their edUCAtn. hence the need to explicitly help them build strong digital ndationS. This wlty h&8 largety been hKlden in plain sight, potentialty masked by assumpti)ns that adums naturalty gain Cx)re d11 competence through use. Worryingty. againsl that backdrop, onty 4 in 101 adults plan to buld their dlts1 8kills thi8 year. eA)nsumor Dyh•l Irthx 2WJ Tl Gobpmmentfysl wNkedThh 20181od•tr•8lfrathAB xI upata thè ¢uaeTth djlal tran. A third p8ople134%108mkvJ £75K & 20 task£. IthYBx 2023
Our strategy We review our alts, 0e¢veS. and &tivities e&h year and hove regular strategy meets.ngs to ensu we deliver impact. This rert sets what FutureDotNow has achieved in the 22-23 financial year and the beneffts this actNty has driven forthe public benefft. We have referred to the Charity Commission, general guidan on publ benefft when reviewing obJ"edives aThJ arlivities and in pLgnning our future activities. Our strategy is built on three pillars. 1. We create the impetus for change by ueating a cornpeHing case for action. 2. We help industy to take aclion through collaboration wth others and having the tools to make an impatl. 3. We build a movement and strong (lMunity, cieating a Sp to tearn from e other, and aclerate impact. How we are creallng the IMIxt for change. In October 2022, FutureDotNow prwJiti'sed the ueation of a n)admap alr at addressing the digttal skills gap among working-age adutts FuturetkntNow engaged Brunswid(, a strategic advisory firm who provided expertise to elevale our messaging, better define our future role, and shape the Digilal Skills ROadp so that rt landed wrth and clarty. Yhe UK Workforce Digital Skills Gap: Vlhy Closiw It Matters and a Roadmap to Action". was join published with the thgilal Skills Council in Juty 2023 and had been part funde(I by the Department for Science, InrK)vation and Technology. It was the culmination of what FutureDotNow has seen, leamt and done over the past four Yea and detailed Ihe best next steps for government, busirtess and civil society lo bt)ost the digÈtal capabilty and 0)nfid of the UK'S workforce and ensure everyone has the Essentiai DBital Skills needed forwork. It has since bec%)n central strategy for FutureDotNow. FutureDotNI)w released the roadmap wilh endorsements from key stakehoklets, including thechartered Institute of Personnel and Devebpment (CIPD). techUK. and the Community Union. Importantly. this Strateg vision akn lIliated FutureDotNoW s abilty to secure new financial backing for future thases of work. erwriw its sustainabilty as a wng concem. FutureDotNow continued to hold Ilagship events throughout the year to help CTeate thé impetus for ¢hang8. Our Senior Leaders Council met in October 2022, convening frsuile leaders from drfferent induslries and disciplines. Their colle(Xive insh1 fSed C hrAv we delivw at pace and provided initial Impetus on developing a roadmap. The ExecutNe leam had the opportunty to speak at WK>US events throughout the year high14ghting the digital skills gap to different audiences such as Chatham House Future of W(xk ConfereTr, Cty & Guilds Industrial Stralegy Board, Orade's HR Ins3ht panel. Liz WIlmS MBE, CEO, was asked to give evidence at tho House of Lords COMMUntIonS and Duital Committee as part of its enquiry inlo digital exclusion and the cost-of-living rAs.
Helplng Induslry to lake actlon on essenllal dlgftal skllls. FutureDotNoY/s unique position as a convenor means rt can bring govemment. business and civil society together in ways they wouklny ¢)thefV•ise connect, crnsstng sector and compettEive boundaries. This is at the heart of hu•V we work, enUlng knowledge sharing and helping to move beyond siloed working to accelerate action and impa(l. Futuret)otNtrN works WTih businesses to ensure have to the tooEs necessary to take actSn. are aware of best practice and can connect as a MmUnty. Our tlta1 Skills Directory brings together detsils of digrtal skills iniknatives and providers auoss the UK. making it easy to Jentifythe nght provision for each organisatÈon. Our DNJrtal Skilts Playbook h lyjsinesses navhjate their dlIa[ upskilling ioumey by offering guidan on what steps to take and relevant best practtce, whatever slage they're at on their journey and our new resource bank holds all the Fuiuret)otNow assets for ease of access for our members. Bulldlng a movement and strong communlty Central to our mission. we aim to foster a strong wllaborative c#)mmunty and build a movement thrjgh a variety of channels. We h¢)st regular Leam and Sofve events. with recent guests including AND Digital, Marks and Spencer and Travis Perkins sharing insohts and experiences. Thi8 enurageS members to leam from each other about vthat works {and what do8sn't} and uses the power ofthe nelwork to find better solutions. faster. FutureDotNow eslablished an online ccfflmunty space, which thilitates members to build ¢xnectIOnS and share insights and tools. In addition, our flagship events, Collective Adion in November 2022, Alerate in Mah 2023, and the Roadmap launch in Juty 2023 were key moments that br(MJght tcgether and other stakeholders to dK8cover new data and collab)rate on how to take aLtrn.
Performance and achlevements Creatlng the Imfv for charye Th8 UK Workfor di Ital skills Wh closi it matters and a roadma for ac n distilled the landsca and imperats've into three action areas,. strategy, delivery and ltUre. and makes 10 clear and specrfic recommendations for adion by govemment. business and cwil society. The report was produced in FutureDolN¢)ks trademark style. engaging a wide communty of stakeholderB to shape and inform the Conlent. Induding Board organisa'ons. Department for Education, DepartrYEnt for Work and Pensions, Department for Scien. Innovation and Technology, Cabinet Office. Digital Skllls Council. techUK, BetheBusÉness. and the Financial Services Skn"Ils Cornmiss and contributions from key coaltlion members including Barckys. NioThiide. Ttavts Perkins plc and Marks and Spencer. The publlcatton was launched at the BT Twr in London attended by over go le8d6rs from bu$ines8, govemmenl, policy. academia, and ¢ivll soc. rIng a series ofsp8eches, paneLs and nversatIOns, attendees heard trom FutureDotNow CEO Liz Wlliams MBE, Paul Scully MP, Minlsler for Tech and the Digltal Economy, and many experts and thought from INlu, the Wblic sector and clvll 80¢iety,' including.. Chintan Patel, Chlef Technology Officer CIS UK&I". Helen 8alsdon, Interim Chl8f Nurse Inform Officer, NHS England; Anthony Impey MBE, CEO. Be the Business., Catherine Ruttar. Direclor Group Customer IDclusk)n, Lloyds Banking Group. Gori Yah8ya, CEO and Founder Upskill D11.. Anna Colllns. Digital Eagk8 Lewjer at Barclays UK" Eli8ab8th Co8ta. Managing Dlrector. The Behaviwral Inslghts Team,. Kirslie Donnelty MBE. CEO, Clty & Guilds; Dr. Melanle Garson, Cyber Policy Lead. TY Blalr Institute Global Change. The launch event and the roadmap publKatlon ¥8 the stwt of FutureDotNovls next chaptèr. Over th8 Autumn, FutureDotNow convened industy-ied working groups supported by Oli¥er 1Man with pro- bono resources that explored the recommendatv)n$ in detail and dèveloped the required to achieve them. Use of an Agile sptht model enabled these workn'FVJ groups to rrthe quickly and identfy priority outcomes for Imt. This 2024 delivery plan was the outcorn of this work and Is the adopted slr8legy FutureDolNow. This detailed plan has asslsted In fundlng Opptuniti.&s with the Department for Science, Innovation and Te¢hnology who awarded a grant to 8UPWI this a(Aiv8ti¢)n phase and the first sprlnt In 2024. Help Industry to t•ke aGllon. Working in partnership wllh Lk)yds Banking Group, we PToduc*d the WfJSt detailed v18w yet of the Scale of the Workfo skills gap. Published in March 2023, the Essential Dyital Skills for Work report brougm together Lbyds Banking Group data wtth analy9 and insight fr1 FutUDotNOw. It rewKted on the 20 digital tasks essential for work ttsjay and prOVed swcific derrngraphic data on th¢Jse most like to be falllng behind, to help employers to take targeted action to upskill their people.
In June 2023. we introduced a comprehensive gu#Je offering pracal advre to help regional and i[al authorities devekjp their empbyees, Essential Digrtal Sknlls and upskill the mMunIe5theY serve. This initiative was made possible through the Accenture Gh)bal grant and drew insights from Greater Manchester Combined Authortvs IGMCA) intemal upskilling efforts. The guKle encompassed valuable resources. including (xse studies from The Gr(hvlh Company in Manchester and Dorset Counal. Addrth)nally, tt provhled an Essential Digitral Skills leaming CheiSt and tK)ilerplate materials for organising regional roundtable events to engage regn81 stakehohlers. tk>rset Counal are leading the way wtth their impact aThJ approach lo dwital upskilling through their dHJrtal chaMpnS model, which has buitt drtaI nfiden and capabilty on the front line.. this vras Showca in the guide, as a success story and inspiration for other authorities. The Accenture Global Grant addlnalty funded an impact measurement project, in whh we developed a Theory of Change, setting out the challenge, our rote, what we know to be true. the levers of change and the outcoffles V are dring for. It also alkywed us to devèlop a framework for individual organisations to Ure impaLX. wtth gU¥Jar on to u it and recrynmendatsons for FutureDotNow on how to rneasu our impact as an organisation and to evidence the value of collects've action. Following feedback from the project steering committee. (AND Digital, Barclays, DWP, Lloyds Banking Group, Nominet, Weir Grcyjp) updates have been made to the Member Impact Measurement toolkrt. This updated prototype wll improve the user experien, fftcrease engagement and simplTfy how members measure their impaci. The prototype was delivered in November 2023 and piloting of Ihe prolotype loolkrt wtth select memlHs will folk)w in 2024,. both Nalionwmde and Comwall Counol having already expressed intsrest. Build a movement and strong communlty. Collective ActK)n 2022 was a suttess with members coming together lo share their stories of how they are each takn'ng action on durtal skills. The converSatn continued on the Community Space. where members also shared their barrters to wogress and the acth)ns they will take before Accelerate 2023. In March. our Accelerate 2023 ov8nt had a dYnarn interive session whith helped members ttjnnect with Ihe new report data and build relationships wilh each other. Attendees shared su¢xess stories and challenges and used an idea generatn technique, which created collective solutions on howto engag8 stakeholders on the drgtlal skills gap. In six member-showcase stands gave attendees the opportunity to discuss first-hand h(w an Organisati is tacling the challenge and helped cement connections within the communty. The FutureDotNoH coalln ncw has a rtsch of Milln4 with over 200 member MpanIes. During the last year, membership has continued to grow with joiners induding Amey. Sky, Johnson Mathoy, and Cisco. these organisations a committed lo accelerating the dlIa1 capabilty and confKlenc8 of their employees, custorrErs, and vthr communty. Growing membership remains a route to greater impact. In addthn, we have secured a number of new organisations as strategic partrkers for our new financial year. By ¢ontributing £30.000 each. these partners join our small Strateg cownmunty enabling them to have a material impad on thè UK workforo digital skills gap.
Financial review This is the second year of fonnal accounts as FutureDotN¢yw was established 5 January 2022 and thi3 report represents our first completo 12-month financaal year. which ended 30 September 2023. Due to this, no direct comparis be made with last yeals fomwl &counts, which ojvered onty 9 months. Income FulureDotNow had a tota inrx>me of £623,OLKI. We l¥•y £274.Cl unrestricted inTr)me from our board members and £50,000 unrestrTCted in¢ome from a Departrt for Culture, Media and Sp)rt granl and £299,000 irFkind SUPPDrt from our t1rd members and new partners. Net assets rrIed forward from September 2022 was £442.481 of which £55,520 was restri(tsd (rne. The in.kind support Vered a seo)ndee from AClure for 12 Th)iths, a project managerfrom Deloitte for three months, and a small proied team with partner oversight for three months from OINer Wman. Expenditure Our total expendilure for 2022r23 was £836,986 whth induded the £299,000 iTrkind suppNt. Summary In summary, given the planned delivery of our pr(yJramrr. we incuryed an ex¢wdS of expendliure over income in 2022123 of £213.986. As a result, on 30 September2023. the charity had free and unrestricted funds of £228.495. RestriLed funds must be utilised on the IKoierXs agreed with the ftjnders. Ihfftere proie(s span more than one financial aUntIng year. any reslrirted funds that have not been fulty used in year must be carrÈed forward to be expended in futufe years. At the end of thts 22-23 financial year, we are carrying forward £0 of restricted funds. Investment pollcy Aside from retaining a prudent amount in reserves each year (invested in our inst8nt aCsS bank accounti to cover risk5 and provide working caprtal. the chanty's funds are to Lk spent in the short temi, so there are no funds for long-tem inveslment. Reserrfes pollcy FulureDotNow's working reserves pcdy for this financial year vms to hold unrestricted re$eNes to manage any risks, including but not limtted to mrtuating uncertainties in our fvnding levels and timing of deposits. The resèrves wlicy is reviewed annualty by the Tnjstees at the beginning of the new financial year and in October 2022, in restKinse to the charTty's ffinanal F4)sition and the economic cllmate, the declon was to hold un$t[led reserves to cover the cost to exil at £120.000. During the financial year 22123, FUtureDotNIlS funding )de1 primity relted on sx legal members to support the chanty's operations. H(Miever, signifant efforts were made to ueate a new goveman and funding rTh)del. As of the rep)rt's writing. Futuret)otNow has suc¢essfvlly diversified its funding sources. having ured eht strategic partnerships, two grants and a donation. Notabty, the charity athieved the st*us of a going rJ)ncem in December 2023.
Plans for future periods. FutureDotN¢)s mission remains constanc it remains essential for alt woTkn'n9-wJe adults to be equipped wtth the dultal c0nfthn and capabilty they need ftx a prosperous fijture. Over the Autumn, three industy-led working 9roups (Strategy, Employer Adion, and Cufture) reviewed the 10 Roadmap recommendations to Klentify prioiities for 2024. CollectNe, they streamlined the prtorilies into seven action ar&qs for scale imp&t. This consolidath)n culminated in a dear path forward with the creation of the 2024 Delivery Plan. Cross sector YkM$ will fcmxs on seven areas for adN)n to dose the Workfor digrtal skills gap. We wdl see a series ofthree actioTrfo(xwd spn.nts acrctss 2024, each will culminate in an event for key parties to come together to reflect and consolidate progress. End•of-sprint events will be an OPFxNtuntty to g81vanise act from others, and secure ongoing suprort from sprint teams. We will also encourage teams to connect during the sprints to manage interdependenw6 and ensure overall alignment. Reviewin9 Pfogress at the end of e&h sprint will inform the next phase of work through refflection and consolidation wtth the Futuret)otN communty. For example, FutureDotNovKs flagship event, Accelerate 2024, now rebranded to the Workforce Digtsl Skills Summil, VAII bring coalition members together at the end of the first sprint to profile the impact and momentum and brlng others akJngsid8 the mission. Each wortstream will )MprIse team members and expert adviso from across Ihe FutureDotNow communty and together are ntable for prryjress. Fundraising efforts continue to con(*ntrate on sec#JrirKJ sustainable funding so we can continue to deliver Jr foThYard strategy and grlyw the cwuanigation to meet the needs of the mission. Structure, govemance, and managemenL FulureDotNow was estthished as a tharitable inrporated ofganisabon (CIO> on 5th January 2022 with ils conStrtutn as rts goveming document. The CIO is run as an asxKiation model with a steering l)oard formed of legal member representslives arvj trustees. all of voting rKJhts. A scheme of delegation is in pkne and the daY-tdaY r8sponsibilty for running of the tharity sits with the Execulive Offio. comprising of the Chief Execubve Officer and the Chief Operating Officer, howevor a number of reserved matters are delegated from trusteesto the steering t#)ard. which includes responsibility for long tenn obieclives. strategy arKI perforn)an. Under the requirements of the Constlution, the trustees at FulureDotI a ele(knl by the board and typicalty serve fora Fericmj ofthr80 year5 after whth they can stand for rtrelection. To prevent all trustee positions from expirfftg simultaneousty, one tnjstse setved a hycpyear lem. whith was renewed 5th January 2024 for a three-year period Our tx)ard of trustees. which must consist of at three and up lo twelve members. were initi'ally eleded from our existing board memb8rs. Future or addf(ional trustees could be aptointed to fill any require(I ski115 gaps on our through open ad¥ertÈsement and, whare appropriate. by using a recruiiment agerw with experien in recruiiing charty trustees.
10 In October 2023, a new govemance nle1 was approved, and Ihe steering board vrds dissow, repla by a trusteeThonly board consisting of three trustees wth all legal from the steerfng board relained, bar one. A fourth trustee, Aidan HanGO(, vfts aptN)inled 21sl January 2024 whose experience as Chief Infom7ation brings a thealth of knth¥l lo the board and contributes to mitigating the risk of maintaining quorum. New]y appointed trustees are provided wrth a copy of the Consbtution and any amendments made to it, and a copy of the latest trustee report and statement of acunts. We also lailor inducts'on to meel Iheir neèds, which could indude Shadovng of sentor staff or fing sessK)ns by the board. e Iwstees. an al retM)rt was apmed on 2ThJ Juty 2024 and signed on behalf of the tM)ard by.. Sir Peter Estlin Chair tfdted". 2171¥*
Independent Examiner-s Report I report to the trustees on my examination of the accounts of FutUreEN0 for the period ended 30 September 2023. Responslbllltles and basis of report As the charty trustees you are resFonsible for the preparatM)n of the aCcnts In a¢¢ordance wth the requirements of the Chanties Act 2011 (Ihe Art'}. I report in respect of my examination of the charity's accwnts carried out under section 145 of the 2011 Act and in rying out my examinalK)n I have follow&J all the applicsble Directions given by the Charity Commission under sectK¢n 14515)(b) of the ACL Independent examlnefs statement sin the charfty's gross income exceeded £250.0Tr). I confirm that l am qualified to undertake the examination because l *n a member of the ICAEW. whh is one of the listed bodiès. I have (xffiipleted my examination. I confim that no malerial mattets have c¥) to my attentÉon in nnection with the examination grng me cause to beIve thal in any material resp8tt. 1. accounting records were not kept in respect ofthe Tnjst as requKed by stIOn 130 of the Act., or 2. the a¢xounts do not a¢xth with those records. 3. the a¢xounls do not compty wrth the applicabte requirements conceming the fomi and content of accounts set out in the Charities (A¢xounts and Reports) Regukqtions 2008 other than any requirement that the accounls give a Irue arKI fair view whth is not a matter ¢onsKlered as part of an independent examinati. I hav6 no cOnmS and have c(Mne auoss no other mtters in connectw with the examinat¢on to which attenlion should be drn in this report in er to enable a prop8r understanding of the accounts to be reached. Anthony Epton BA FCA CTA FCIE Goldwlns Chartered accountsnts 75 Maygrove Road West Hampstead London NW6 2EG 4 July 2024
12 FutureDotNow Statement of financial actlvltles (Incorporating an income and expendfture account) For the year ended 30 September 2023 Unrestri¢t•d R*lcted Funds Funds Total 2023 Total 2022 Income from: Granls and donation5 Other income 623.000 623.000 741,935 200 Total income 623,ClJO 742,135 Exp9ndIre on: Charitable activrtes 781,466 55,520 838.986 299,654 Total eynditure 781.466 55,520 836.988 299,654 Net lexpenditurelllncome for the year (158,466) (55.520) 1213.986) 442,481 Net {expenditure)fincom• for the yèar 1158.4661 155.520) 1213.9881 442,481 Reconciliation ot funds: Totsl funds brought foThYard 386.961 442.481 Totsl funds carrled forward 228.495 95 The attached notes fomi part ofthese WJnts.
13 FutureDotNow Balance sheet Asat30Se tember 2023 2023 2023 2022 2022 FIX assots Tangible assets 4.291 5.833 Current assots DebtOTS 84,817 Cash at bank 235,099 411,942 235.099 4.75& Current Ilabilitieg Credittsrs". Amounts falling due within one year 110.895 160.111) Ngt current assets 224.204 436,648 Total not assets 228,495 442,481 Fund$ 10 Restricted funds 55,520 Unrestricted fvjnds.. Gefteral fvnds 228.495 386,961 Total funds 228A95 Approved by the board of trustees on 2LyF Juty 2024 and signed on rt5 tseha by.. Sir Pet Chair Kenneth E$In The attached notes fomi part ofthese accounts.
14 FvtureDotNow st#tement of cash 11ows For the year ended 30 Sepknilxr 2023 2023 2022 2022 Cash flows from opernting activlttes Net cash provKled by Iltssed inl oFEratiThJ actNitie8 1176,843} 418.741 Cash flows Irom Investlng athities: Purchase offixed assets Nèt cash provid by I Iwd In) Inv#$tlng acUvlti•s 16.7991 ¢hang+ In aThl cash eqyi¥alerrts . the perood {17WI 411,942 Cash and G8sh equwaknts at the beginning of the period 411.942 Cash and Cash eqylvaleErt8 at the entt of the perlod 411.942 al Reconciliation ol net In¢ I lexwxlltyTr) lo net IItrA7 fr(Kn operniing 3¢tfj¥Mi 2023 Net lexpendrturel 1cOme forthe rewb"rvJ WK*J las per the statsmentol fin8nc4al aetivths) Deprecjation Inteiest and di¥%3ends frvm irNe6bwits Ilnffta8eVDecEase In debtors (Decreaseylncrease in cralrtor8 2022 I213.} 1,542 442.481 966 84817 149.216) 184,8171 60.111 Nèt cash provlded ty l{wd operating activit 176 418 741 b} Analysls of ea8h and ¢Mh equlvalents At start of year Cash FI Cash Flow 2023 2022 Cash at bank and sn hand 411.942 11&3.4471 228N95 411,942 411.942 Totsi cash and cash equlvalfrnfs 411.942 183.44 411.942 411.942 FutureDolNow
15 Notes to the flnanclal statements For the year ended 30 September 2023 1 Accounting polici•8 Basis of proparntion The financial statements have been a(%ordarthih A(zwntt"rKJ and Rep)rting by Charities.. Statement of Recommended Pra¢b¢e applicable to thaTrties preparbng their accounts in accordance the Financial Repo"ng Standard applicabte in the UK and Republic of Ireland {FRS 102 effective 1 January 20151- {Charities SORP FRS 1021 arKI the Chanbes Acl 2011. The charity meets the definiti of a publ benefft enlty un¢Jer FRS 102. A53ets and liabilities are inrtially recognised at histor1 cost or transaction value unless otherwe stated in the relevant accounting policy or note. Going concern During the financ year 22r23, FuiureDotNcs fvnding model primarily reli on six tegal members lo support the charty's operations. However, signfficant efforts TrÈre made to creatè a new govern8re an funding model. As of Ihe FK)rfS WTrting, FLrtureDotN(yw has successfvuy diversffied its fvnding Soufces. having secured eight 5tralegic partnerships. grarrts and a donatK)n. Notsbly. the charity achieved the status of a going concem in De¢ember 2023. Income Income is recognised when the charity has entthment to the funds. any perfomian¢e condib'ons attached to the income have been met, rt is probable thalthe incomewll be reLeived and thal the amount an be meas¥Jted reliabty. Income from government and other grarrts. Whether.catal. grants OT 'revenue' granls, is reeognised when the charty has entiuement to the funds. any performance condrtions atta¢hed lo the grants have been mel, Tt is probable that the Income wtll be received and the amount (2n be measuied reliably and is not deferred. Income received in advance for the Provision of speethEd seNice is defeffed until the cnteria for income recognition are met. DonatioN% of gifts. services and facilities Donated professi¢)n31 $ervices and don8ted fac¢liis are recognised as 0)me v•hen the tharity has contrd over the rtem received the seryice, any ¢0lldrtns assouated with the donats.on have been met. the receipt ofecortomic tnefftfrom the use by the charty ofthe rtem is probable and that econom benefit can be measured reliably. In accordance wrth the Charibès SORP {FRS 102}, volunteer time is not recognised so refei to the trustees, annual report for more irrf0mln abouttheir contribution. On rae•ipt. donated gtfts. profg$6ional slee0 and donated f8cililies are recognised on the ba515 of the value of the gift to the charity is the amount the ¢liarTty wCrfd have been vmlling lo pay to obtsin seryices or faulth.es of equivalent economic benefft on the opèn markeL a corresponding amount is then recognise(F in expendilure in the pwitxl of rpt. 1 Accounting policies {¢ontinugd)
16 Intsrest receivabl8 Inleresl on funds hehj on deposft is kn¢bJed reeeEva and the amount can be measured reliably y the chanty,. this 1$ Up notrtthion of the interest paid or payable by the bank. Fund accountlng Unrestricted fijnds are available to spend on aetNibes that furthtrr any of the purposes of charty. Designated funds are unrestn'cted fvnds ofthe thanty whh thetrustees have decided attheirdiscretr'on lo set aside lo use for a specffic purrw. Restncted funds a donat¢ons vhKh the donor has specrfied are lo be sokiy used for parb'¢ular areas of the chanty's wotk or for speufic projects being unde¢tsken by the chanty. Expondlturo and Irr•¢ov•rable VAT Expendrturo Is r¢cognised one• th•re a kngal or eon8truth obh"gotion to make a p•yment to a third party, it Is prob8ble that settlement will be required and the amunt of the obllgation can be measured reliably. Expenditu is cla$$ffid under the followng a¢Xvty headings.. Costs of raising fvnds comprise ot trading costs 8nd the costs inojrred by the Charity in induclng third parb'es to make volu• conlrlbutiorn lo it. as as the ¢03t of any actsvths with fundraising purpose. ExpendrtUTe on 0ctWrt W1je5 aciivtbes undetsken to fijrther the puwe8 of the chanty and their assouated support costs. Other expenditure reyesents those rtems not fallir¥J into any othw heading. Irr•cov•rable VAT is charged a¥ a &)st 8gain8t the xtNrty for the eXn(lure was In¢urred. Alltxotlon of ¥upport ¢1• Support costs ar• those funcbon8 that a88iSt th¢ work of the charity but do not directy Undertake charitable actNknes. Support costs include Ik office costs. finance, per80nnel, payroll and governanc• costs whl¢h support the chantable programmos and actimties. These costs have been allocated befv Cost of iaising funds and expendrturo on ch8ntabl8 actsvibes. Thg ba868 on wthich 8UPPOrt co$1$ have been allocated on Iheir total direct costs and are 3et out In rnte 3. Op•ratlng l•aM• Rental Ch08 ar? charged on a alght Ilne l>a8b over the temi of the le&ye. Tanglble flx•d am Items ol equipment are caprtalised where the purchasé wice exceeds £1,Cw)O. Depraaalion is Provided at rat&s cal¢ulated to drythvn the cost of e&h a$s•t to rt¥ esbmatod feBidual value over its expectad useful life. The depreciatlon rates in use are as follows.. Office equipment 20% on cost D•bloYs Tiade and oth¥ deblors a recognlsed * thè setllement amount due after any trade discount offered. Prepayments are vajued 01 the amowrt prep4KI n•1 of ary trJe di$¢tnts due. 1 Accounting polici•s Icontlnu•d)
17 Cash at bank and in hand Cash at bank and cash in hand inclLth cash an(J short term highly liquid investments wth a short maturity ofthree months or less from the date of acquisitton or opening of the deposit or similar account. Crgditors and provisions Creditors and provisions are recogr¥sed w41ere the charty has a present 019atiOn rvauking from a past event that wll probaiAy result in the transfer of fijnds to a third paty and the amount due lo setue the obligation can be measured or estimated reliabty. Creditors and proVisnS are n0fMlY recognised at their seltlement amount after allcming for any trade discourfls due. FÉnancial instruments The chanty only has financi assets and financial babblrties of a kind Ihat qualty as bas finawal instruments. Basic financial instruments are inÉb"alty reo)gntsed at transacin value and subsequently measured at their Setemert value the eXptIon of bank loans whKh ale subsequentsy measLtred at aMOrtSed cost tjsing the effective interest method. Ponslorts The charity operates a stakehokler defined ¢ontn'buty"on penS)n scheme. Contributions payable for the year are charged in the Statement of Financial Acvities. FuturBDotNow
18 Notes to the finafKlal slatemonts For tho year ended 30 Saptsmber 2023 2 Incomo from donatlon and Grants 2023 Totsl 2022 Ttstsl Unrestricted Restricted Donations & Gits in kind Grants 573,000 50,000 573,000 50.000 502,746 136,189 502,746 239.189 103.01)0 623.000 638.935 103,000 741935 3 Analysis of expenditure 2023 Total 2022 Total Staff costs Design Consultancy Profesional fees Gfft in kn.nd IT and s0fbWa costs Training SubscriptKJns Travel Postage and statronery Insurance Entertaining Independent exafflinatr>n Depreciation Bank charges Sundry 364,915 20,406 110,802 6,744 299.000 6,891 143,932 3,950 31.308 1,440 94,166 2,655 1,175 505 3,012 1,151 4,599 4,553 3,000 966 36 3,206 630 5,755 1.282 3,331 8.897 3.000 90 3.701 Total ?xpenditurn 836,986 299,654 4 Net1gxpenditur•y incom• for the year This is stated after charging.. Deprerialion Independent examinefs fee 2023 2022 1.$42 966 2,500 FulurnDotNow Notss to the financial statemènts
19 For thè ear ond8d 30 S• b8r 2023 Analysls of staff costs, Intst••s remunefkn and expense3. and the ¢o¥t of k•y management wsonn 2023 2022 Staff costs were as fdlows". Salary and wages 322,$89 128,838 Social securty eosts 30.047 10,096 Empknygr's contribution to defined coniribution pens sch 11279 4.998 3H915 143.932 The numbèr of empl¢> whose annual remuneration was £60,((10 or more were: 2023 No. 2022 No. £70,1XJO- £79,000 £80.(K)0. £89.000 The total employee beneffts indudtng Pron contribut$ trthe key Managent personnel in the year We £175.370 { 2022". £69.4001. Stsff The average number of employees (head count based on numb of *aff emptoyed) during the period was as follfy•rJ'. 2023 No. 2022 No. Total There were no tnjstees. reMLbneratn or ollw beneffts for the year ended 30 September 2023. There were trustees, exFenses pawj for the yew ended 30 September 2023.
20 Futurgt)otNow Notos to the financial statsmènts For the ear ondod 30 So tomber 2023 6 Tanglble fixed assets Offl¢e equlpment Cost At the start of the yèar Additions in year Al the end of the year 6.799 Depreclatlon Al the stsrt of the year Charge foF the year Al the end of the yeaf 966 1.542 Nat book valu• At tha ènd of the year At the start of the year 5.833 7 Dobto 2023 2022 Trade Debtor8 84,817 84,817 8 Crnditor&." amounts fallmg due T*rythin ¢)ne year 2023 2022 Trade creditors Accruals Taxation and social secunty 418 3.OlJO 7.477 47,524 3,000 9,587 10.895 60,111 9 Analysis of not assèts bet funds unrestri Restricted Total Fixed assots 4.291 4.291 Nel current assets 224.204 224,204 Net assets 228,495 228,495 FutureDotNow
21 Notes to th• Itnancial slat•m•nts For th& year endgd 30 Septembgr 2023 9a Analysis of net assets bet**en fund51prior TIOd Total Fixed assets 5,833 5,833 Net rreTrt assets 381.128 55.520 436,648 Nel assets 386.1 442.481 10 Movement in fiuKIs 2022 2023 Restricted Fund$: Accenture Gbbal 38,000 138.000) Service Design 17,520 (17.520) Totsl restric19d lunds 55.520 55.520 Unrestricted funds: Gene(al fund 386,961 623,000 (781.466) 228,495 Totsl unTr5tricted funds 386.961 623.0 228,495 Total funds 442,481 23,000 836,986 228.495
22 FuturoDotP4ow Notss to the financial stat•ments For thg year endgd 30 September 2023 10a Movem•nt in funds (prior pèriod) Trnnsf•r At 5 January 2022 ExpenditUTO At30 Soptemr 2022 Restricted Funds: Accenture Global Service Design 53,000 50.000 {15,0001 (32,480) 38.000 17.520 Total rostricted fun 103,000 47.480 55,520 Unregtrtctsd fijnds: General fijnd 639.135 (252,174) 386,961 Total unrestrlctod fundg 639.135 252.174 386 961 Total fundB 742.135 299,654 442.481 11 MovÈm•nt in fun(ts (continued) Restricted lunds arg for tho follo*thvJ purposes: A portion of the AecentUTe global grarrt Ivas restricted to fund a regional project. Recognising combin& and local authonties can aY a pivotal role in th&r Tegion, th regn$ project working with GMCA has explored the how they can have a posrtive impact their own workforce but also that of their regions businesses and commuruts.es in dosng the EDS. The insight gained will be documented as a blueprint for use by other regions in the Ult The service deswn grantwa5 restrtcted to fund projects. the bUildg a community proieca designed lo increase member co118boration by estabtishing a slrong member CLKnmunity reSung in greater collaboralion, engagement, accourttabilty, and action across the membership and to fresh 3n¢J update the FulureDotNow website. Both projects have delwered phase 1 and move into the new financial year vth phase t4. 12 Related party transadlons There are relatÈd party transacn8 to discktse In the year { 2022: Nil).