## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee) Charity Number 1198872 Company Number 13738626** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

2023_12_31 Disrupt Foundation Accounts(30684697.1) 



## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS** 

## **for the year ended 31 December 2023** 

## **CONTENTS** 

||**Page**|
|---|---|
|REPORT OF THE TRUSTEES|**1-6**|
|INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS||
|OF DISRUPT FOUNDATION|**7-9**|
|STATEMENT OF FINANCIAL ACTIVITIES|**10**|
|BALANCE SHEET|**11**|
|STATEMENT OF CASHFLOWS|**12**|
|NOTES TO THE FINANCIAL STATEMENTS|**13-17**|





## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

The Trustees who are also directors for the purposes of company law are pleased to present their annual Trustees’ report together with the audited financial statements of Disrupt Foundation (‘the Foundation’) for the year ended 31 December 2023. 

The Foundation was incorporated on 11 November 2021 as The Pod Foundation. The Pod Foundation changed its name to Disrupt Foundation in March 2022. 

## **Reference and administrative information** 

Name of charity **DISRUPT FOUNDATION (Disrupt or the Foundation)** (Previously known as The Pod Foundation) Charity Registration Number **1198872** (England and Wales) Company Registration Number **13738626** (England and Wales) Registered office address One Bartholomew Close, London EC1A 7BL Auditor MHA, 2 London Wall Place, London EC2Y 5AU Administrators and Legal Advisors BDB Pitmans LLP, One Bartholomew Close, London EC1A 7BL Trustees Guy Podjarny (Member Trustee) Dr Gal Podjarny (Member Trustee) Jonathan Brinsden (Non-Member Trustee) _All of the above appointed on 11 November 2021_ Einat Podjarny (Non-Member Trustee - appointed 28 July 2023) Senior Management Chief Executive Officer (CEO) – Miri Weingarten 

## **Structure Governance and Management** 

Governing The Foundation is a charitable company limited by guarantee, incorporated on 11 November document 2021 (company number 13738626) and was registered as a charity with the Charity Commission on 9 May 2022. The Foundation was originally incorporated as The Pod Foundation and changed its name to Disrupt Foundation in March 2022. The Foundation’s governing document is the Articles of Association dated 11 November 2021. 

Risk The Trustees have a duty to identify and review the risks to which the Foundation is exposed Management and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. For this purpose, the Foundation is in the process of establishing a Risk Register to identify the key issues faced by the Foundation and steps to mitigate those risks. The Trustees are aware that there are potential risks concerning its grant making activity including delay or difficulties in implementation due to political, environmental and resources issues, which in turn may result in a failure to meet defined milestones or objectives. The Trustees manage the risk through a grant approval process, the use of grant agreements and regular monitoring by the Foundation’s CEO. 

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## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

Objectives The Foundation’s objects are restricted to such exclusively charitable purposes according and Activities to the laws of England and Wales as may be determined from time to time by the Trustees for public benefit. The Trustees have decided to narrow this in order to promote and further social justice by supporting communities and organisations working for positive change, and by amplifying their impact through technology and organisational capacity building. The Foundation advances the objects through its grant making activities, engaging external consultants to provide support to its beneficiary organisations and convening beneficiary organisations for know-how and knowledge sharing purposes. 

Key In addition to the Trustees, the Foundation has appointed a CEO who has delegated Management authority to conduct the day-to-day business of the Foundation. The Trustees and CEO are personnel considered as Key Management Personnel. Pay and remuneration for the CEO is decided by the Trustees and is set in line with current market rates. Trustees The Trustees of the Foundation are directors for company law purposes. The minimum number of Trustees required by the Articles is three and the maximum is twelve. There are two Member Trustees, Guy and Gal Podjarny (a Preference Member and Ordinary Member respectively), who serve an indefinite term based on their relative experience and contribution to the Foundation as a whole. There are two non-Member Trustees, Jonathan Brinsden and Einat Podjarny who have been appointed to serve a minimum of three years. 

In accordance with the Articles, Trustees are appointed by the Preference Member during his lifetime and thereafter by the Ordinary Members. Training for new and existing Trustees is provided when needed/ relevant. Responsibility for the induction of any new Trustee, which includes the awareness of the history and approach of the Foundation and the understanding of a Trustee’s duties, lies with the Trustees. New Trustees receive a copy of the Articles, the previous year’s accounts and guidance booklets provided by the Charity Commission. The Trustees also provide full details of the Foundation’s current grant programme and objectives. 

All Trustees work on a voluntary basis and no remuneration was paid in the period. Details of Trustees’ expenses and related party transactions are disclosed in the Accounts. Trustees are required to disclose all relevant interests and register them annually with the Chief Executive Officer and, in accordance with the Foundation’s policy, withdraw from decisions where a conflict of interest arises.  A register of conflicts is in the process of being prepared by the Foundation and any new conflicts are also noted during meetings. 

The Trustees meet at least twice a year and agree the broad strategy and areas of activity for the Foundation, including consideration of grant making, budget, investment, reserves, risk management policies and performance. 

Fundraising The Foundation’s income during the period was derived from Prism, a donor advised fund. The Foundation does not undertake fundraising activities. Consequently, the Foundation is not registered with the fundraising regulator and received no fundraising complaints in the period. 

Public benefit The Trustees, having regard to the Charity Commission’s guidance on public benefit including the guidance ‘Public benefit: running a charity (PB2)’ and in accordance with section 17 of the Charities Act 2011, consider that the purposes and activities of the Foundation satisfy the requirements of the public benefit test set out in section 4 of the same Act.  The Foundation carries out these objects by providing grants and donated services to organisations whose activities comply with the Foundation’s criteria. 

Grant making The Foundation has developed assessment, due diligence, compliance and oversight policy procedures for provision of charitable grants. Each grantee and application undergoes a rigorous process of assessment and due diligence against the Foundation’s strategy, 

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## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

priorities and charitable objectives, and is subject to Trustee approval. Foundation policies and grantee information as well as applications, reviews and reports are saved on file and the Foundation is currently developing a database, to ensure efficient workflows both in the UK and in Israel. 

In relation to grantees overseas, the Foundation has developed further procedures and oversight to ensure compliance with English charity law and other legal requirements. The Foundation began direct grantmaking to grantees in Israel in the first quarter of 2023 and continues to engage Istishara as a local consultancy which identifies, assesses and supports grantees, subject to Trustee approval and to due diligence checks in the UK. 

The Foundation employs a small team of a full-time Managing Director and a Grants Manager based in London, which works closely with the Trustees and with Istishara to build the Foundation’s strategy and maintain activities, meeting frequently online and in person at regular intervals. 

## **Achievements and Performance** 

Achievements **Grants** 

Grants have been made to various organisations in support of its charitable objectives. In the period, grants committed amounted to £2,430,769 (2022 £648,083). Details of the grantees are in note 3 of the accounts.  Grants committed but unpaid at 31 December 2023 amounted to £20,000 (2022 £31,000). 

**In the UK** , the Foundation’s thematic priorities for grant making in 2023 were: 

- Migrant rights and racial justice 

- Social and Economic Rights 

The Foundation was able to identify and make multiple grants to organisations across the UK who are engaged in social justice work in these fields. 

**In Israel** , the Foundation expanded, as planned, to making charitable grants to Israel-based organisations, having engaged Istishara consultancy to advise and assist with identifying and monitoring such grants, while the London office maintains oversight of due diligence and compliance with the requirements of Disrupt Foundation’s charitable objectives. The Foundation’s priority in Israel has been to support self-organised grassroots initiatives from marginalised communities, who employ an intersectional approach to social justice. 

With Istishara’s assistance, the Foundation was able to identify and make 34 grants to organisations based in Israel. 

**Tech –** The Foundation has a **cross-thematic, multi-level** interest in tech for good and access to justice, and constantly examines ways in which tech initiatives can contribute to its objective and priority areas. 

The Foundation was able to support grantees in this field as well as the development of tech solutions to issues arising across the ecosystems we support. In October we engaged a senior consultant via our consultancy in Israel, Istishara, who is expected to advise Disrupt across all its tech-related work. 

## **Funder Plus** 

Alongside funding, we offered expertise, upskilling and development processes to our grantees on request, in the following areas: 

- Tech 

- Organisational growth and wellbeing 

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## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

- Legal support 

- Community planning 

To deliver this, the Foundation identified and engaged appropriate expert consultants, who were matched with grantees to provide them with the relevant services.  In the UK, the Foundation was able to identify and engage consultancies for 16 Funder Plus offerings to organisations. In Israel, Istishara consultancy undertook Funder Plus support for grantees, involving additional external providers where needed. 

## **Monitoring, Evaluation and Learning** 

The Foundation has begun the development and introduction of a CRM, whose aim is to document our grant making work, enabling monitoring, evaluation and learning (MEL) in relation to our impact as we grow. The CRM will be fully incorporated starting in January 2024. 

## **Some examples of our grant making work in the financial year ending 2023** 

## UK 

– Kompasi a tech tool in the migrant rights space. Under our Migrant Rights priority and as a part of our tech interest area, we supported groups of charities providing services to migrants, asylum seekers and refugees, amongst them the Step Change consortium in Greater Manchester, in the design and development of a signposting and referrals platform called Kompasi. We provided a grant to CAST, a tech for good charity, to engage suitable developers and work collaboratively with practitioners to develop a minimum viable product (MVP) that can then potentially be rolled out to other providers of services to migrants across the UK. We accompanied this work closely, identifying and engaging a data ethics and compliance consultancy for the grantees, and providing core grants to some of the charities, in order to enable them to engage fully in the design process. The launch of the first version of the product is scheduled for the first half of 2024. 

Minoritised and migrant women – a targeted call for applications. In the wake of a conference we held in 2022 on housing rights amongst migrant and minoritised women, we gathered and documented insights from the conference used these to develop a targeted call for applications, whose aim was to support community-led women’s groups conducting intersectional work for social justice. After an assessment process we selected six organisations and have begun the process to award them grants for their work. Through this process, we became acquainted with further organisations in this space and expect to be able to build grant making relationships in this field in the future. 

## Israel 

Call.Activit. Under our priority to support self-organised grassroots initiatives, we have granted Call.Activit a core grant to assist them in their mission to bring forward and to the centre the voices of black women dealing with blackness and how it intersects with other identities in Israel. Call.Activit operates as a grassroots movement that provides public education, building and disseminating content, producing cultural and artistic activities, and building a community of black people. Alongside the core support we provided Call.Activit with Funder Plus support after identifying needs on the ground. Being a new collective that grew out of voluntary grassroots activism we attached an organisational governance consultant to the leaders’ group to assist them in formulating their working procedures and relationships, defining divisions of responsibilities and authorities, discussing and setting mechanisms for decision making etc. 

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## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

Tishreen. Under our priority to support self-organised grassroots initiatives, we granted Tishreen a core grant and Funder Plus support. Tishreen works to promote an active, proactive and influential civil society amongst Palestinian citizens of Israel in the ‘triangle’ region of Israel, through leadership trainings, cultural activities, and networking amongst various actors in the region. As Funder Plus support we provided personal-professional mentoring to the organization’s new director, by connecting her with a veteran manager of another organisation who provided space for reflection, venting, discussing dilemmas etc. 

## Emergency response 

In response to the crisis in the Middle East, the Foundation provided an emergency grant to British grant-making charity the British Shalom Salaam Trust, which makes small grants to community projects in both Israel and Palestine, including Gaza and the West Bank, with the aim of fostering positive relations between Jews, Palestinians and other communities living in Israel and Palestine. 

## **Financial Review** 

Income The total income received in the period was £4,024,861 (2022 £1,200,000). This was comprised of donations amounting to £4,016,250 and bank interest amounting to £8,611 (2022 wholly donations). Charitable and Grants totalling £2,430,769 were awarded during the period (2022 £648,083). Of these, other £20,000 were committed, but not paid at the end of the accounting period (2022 £31,000). expenditure Support costs amounted to £590,878 (2022 £423,577). The total charitable expenditure was therefore £3,021,647 (2022 £1,071,660). Reserves The Trustees will review the Foundation’s Reserves Policy with reference to Charity Policy Commission guidance (CC19) and accounting standards (SORP 2019 – FRS 102). As at 31 December 2023 there were unrestricted funds of £1,126,291 (2022 £128,340). It is envisaged that these funds will be used in future years towards grants. The Foundation does not hold a set level of reserves. All operational expenses are currently met under an arrangement with the Foundation's funding partner. Therefore, the Trustees do not consider there is currently a need for a formal reserves policy. However, the Foundation's aim is to hold between 6 and 9 months' worth of cash reserves or at least £300,000 to cover operational expenses at any one time. The Trustees considers that it has adequate financial reserves to continue to deliver on its plans and has a reasonable expectation that the Foundation will have adequate resources to continue in operational existence for the foreseeable future. 

Future Plans The Foundation expects to fund further work in support of social justice initiatives in the UK and has expanded to making charitable grants in Israel. Disrupt continues to have a cross-sectional interest in tech and will explore further ways in which technological capacity building and initiatives can amplify the impact of social justice work. Convening activities will be initiated from time to time, to help forge links among different organisations as well helping Disrupt to identify new grant-making opportunities. 

The Foundation may also make grants in future years to other projects promoting social justice through tech, initially in the UK and Israel, with the potential to expand to other countries if and when the Trustees consider this appropriate. 

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20934547.1 



## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** 

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice). 

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for that period.  In preparing these financial statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charities SORP 2019 (FRS 102); 

- Make judgments and estimates that are reasonable and prudent; 

- State whether applicable UK accounting standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in operation. 

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Company Act 2006 and the provisions of the Foundation’s constitution.  They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Foundation. 

In so far as the Trustees are aware: 

- there is no relevant audit information of which the Foundation’s auditor is unaware; and 

- - the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

This report has been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

## **Signed for and on behalf of the Trustees** 


## **Jonathan Brinsden - Trustee** 

**Date:** 22 July 2024 

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20934547.1 



**DISRUPTION FOUNDATION INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **Opinion** 

We have audited the financial statements of Disrupt Foundation (the ‘charitable company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 December 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. 

We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the Trustees’ assessment of the entity’s ability to continue to adopt the going concern basis of accounting included critical reviews of budgets and forecasts provided. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The Trustees are responsible for the other information.  The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other 

7 



**DISRUPTION FOUNDATION INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees’ report (incorporating the Directors’ report) for the financial period for which the financial statements are prepared is consistent with the financial statements; and 

- the Directors’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Directors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report. 

## **Responsibilities of Trustees** 

As explained more fully in the Trustees’ responsibilities statement set out on Page 6, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

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**DISRUPTION FOUNDATION INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: 

- Obtaining an understanding of the legal and regulatory frameworks that the entity operates in, focusing on those laws and regulations that had a direct effect on the financial statements; 

- Enquiry of management and those charged with governance to identify any instances of known or suspected instances of fraud; 

- Enquiry of management and those charged with governance around actual and potential litigation and claims; 

- Enquiry of management about any instances of non-compliance with laws and regulations; 

- Reviewing the control systems in place and testing the effectiveness of the controls; 

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness; 

- Evaluating the business rationale of significant transactions outside the normal course of business; 

- Reviewing accounting estimates for bias; 

- Reviewing minutes of meetings of those charged with governance; and 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standardsand-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-ofauditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report. 

## **Use of this report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


**Stuart McKay BSc FCA DChA (Senior Statutory Auditor)** For and behalf of 

**MHA** Statutory Auditor London, United Kingdom 

Date: 06/08/2024 

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313). 

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## **DISRUPT FOUNDATION** 

**(A Company limited by guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **(incorporating an income and expenditure account) for the year ended 31 December 2023** 

|**Notes**<br>**Unrestricted**<br>**Total  Funds**<br>**Fund**<br>**2023**<br>**Income and Endowments from:**<br>**£**<br>**£**<br>Bank interest<br>8,611<br>8,611<br>Donations<br>4,016,250<br>4,016,250<br>**Total income**<br>**4,024,861**<br>**4,024,861**<br>**Expenditure on:**<br>Charitable activities<br>**3**<br>3,021,647<br>3,021,647<br>**Total expenditure**<br>**3,021,647**<br>**3,021,647**<br>**Net income before**<br>**1,003,214**<br>**1,003,214**<br>**investments gains/(losses)**<br>**Other recognised losses**<br>Currency losses<br>(5,263)<br>(5,263)<br>**Net movement of funds**<br>997,951<br>997,951<br>**Reconciliation of Funds**<br>Balances brought forward<br>128,340<br>128,340<br>**Balances carried forward**<br>**at 31 December 2023**<br>**1,126,291**<br>**1,126,291**|**Total  Funds**<br>**2022**<br>**£**<br>-<br>1,200,000<br>-|
|---|---|
||**1,200,000**<br>1,071,660|
||**1,071,660**<br>**128,340**<br>-|
||128,340<br>-|
||**128,340**|



The notes on pages 13 to 17 form part of the financial statements. 

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## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **BALANCE SHEET** 

## **as at 31 December 2023** 

||**Notes**||**2023**|**2022**||
|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|
|**Current Assets**||||||
|Cash at bank|**4**|1,161,291||173,740||
|**Total current assets**||**1,161,291**||**173,740**||
|**Current Liabilities**||||||
|Creditors:||||||
|Amount falling due within one year|**5**|(35,000)||(45,400)||
|**Net Current Assets**|||**1,126,291**|128,340||
|**Total Net Assets**|||**1,126,291**|**128,340**||
|**Funds of the Charity:**||||||
|Unrestricted Fund|||1,126,291|128,340||
|**Total charity funds**|||**1,126,291**|**128,340**||
|The notes on pages 13 to 17 form part of the financial statements.||||||



The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees on……………………22 July 2024 

## **Authorised to sign on behalf of the Trustees:** 


**…………………………………….. Jonathan Brinsden - Trustee Company No. 13738626** 

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## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **STATEMENT OF CASH FLOWS** 

## **for the year ended 31 December 2023** 

|**Note**<br>**Cash flows from operating activities**<br>Net income for the reporting period<br>Interest<br>(Decrease)/increase in creditors<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Interest<br>**Change in cash and cash equivalents in the period**<br>Cash and cash equivalents at start of period<br>**Cash and cash equivalents at end of period**<br>**4**|**2023**<br>**£**<br>997,951<br>(8,611)<br>(10,400)|**2022**<br>**£**<br>128,340<br>-<br>45,400|
|---|---|---|
||978,940|173,740|
||8,611|-|
||8,611|-|
||987,551<br>173,740|173,740<br>-|
||1,161,291|173,740|



As the Foundation does not have any debt, an analysis of net debt has not been produced. 

12 



**(A Company limited by guarantee)** 

## **DISRUPT FOUNDATION** 

## **Notes forming part of the financial statements 31 December 2023** 

## **1 ACCOUNTING POLICIES** 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Foundation's financial statements. 

## _**General**_ 

The Foundation constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Charities Act 2011. 

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are presented in Pounds Sterling, which is the functional currency of the Foundation and are rounded to the nearest pound. 

## _**Going concern**_ 

The Trustees have assessed the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements. 

## _**Funds**_ 

Unrestricted Funds comprise those funds which the trustees are free to use in accordance with the charitable objects. 

## _**Income**_ 

Income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably. 

## _**Expenses**_ 

All expenditure and liabilities are accounted for on an accruals basis and has been classified under headings that aggregate all costs to the category. Grants are recognised when paid or an earlier commitment made. All expenses are deducted from the Unrestricted Fund as charitable expenditure (support costs). 

## _**Grants**_ 

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Foundation. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Foundation. 

## _**Foreign Currencies**_ 

Transactions during the period have been converted at the same exchange rate applicable at that time. Assets and liabilities in foreign currencies are translated at the exchange rates at the balance sheet date or, where appropriate, the rates of exchange under relevant foreign exchange contracts. Gains and losses arising therefrom are included in the Statement of Financial Activities. 

13 



**(A Company limited by guarantee)** 

## **DISRUPT FOUNDATION** 

## **Notes forming part of the financial statements 31 December 2023** 

## **1 ACCOUNTING POLICIES (Continued)** 

## _**Debtors**_ 

Short term debtors are measured at transaction price, less any impairment. 

## _**Creditors and provisions**_ 

Creditors are recognised where the Foundation has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 

## _**Financial Instruments**_ 

The Foundation 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 their settlement value, which, in the case of the Foundation is at cost for creditors and 

## _**Cash at bank or hand**_ 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **2 JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY** 

In the application of the Foundation's accounting policies, which are described in note 1, the Trustees are required to make judgments, estimates and assumptions about the carrying amounts 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 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

|**3 CHARITABLE EXPENDITURE**<br>**Category**<br>see pg 15<br>for abbrevs.<br>**Grants made**<br>01 Founders Ltd<br>T 4 Good<br>Access Social Care<br>Soc & Eco R<br>Access to Justice Foundation (Community Justice Fund) Acc 2 Just<br>ACORN<br>Soc & Eco R<br>Action for Race Equality (Windrush Justice Foundation)<br>Rac Just<br>Asylum Aid<br>Migr Right<br>Autonomy Research<br>T 4 Good<br>Black South West Network (BSWN)<br>Rac Just<br>Bristol Refuge Rights (BRR)<br>Migr Right<br>British Shalom Salaam Trust (BSST)<br>Peac & H.Rts<br>CAST<br>T 4 Good<br>CIAC<br>Migr Right<br>Civic Power<br>Supp Com Gr<br>Crisis UK<br>Soc & Eco R<br>Friends Families & Travellers<br>Rac Just<br>carried forward|**2023**<br>**2022**<br>**£**<br>**£**<br>75,000<br>25,000<br>82,000<br>42,000<br>-<br>100,000<br>40,000<br>-<br>-<br>50,000<br>50,000<br>50,000<br>25,000<br>-<br>50,000<br>-<br>40,979<br>-<br>20,000<br>-<br>269,066<br>-<br>30,000<br>-<br>20,000<br>-<br>150,000<br>35,000<br>20,000<br>-|
|---|---|
||872,045<br>302,000|



14 



## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **Notes forming part of the financial statements 31 December 2023** 

|**3 CHARITABLE EXPENDITURE (Continued)**<br>**Category**<br>see below<br>for abbrevs.<br>brought forward<br>Fuel Poverty Action<br>Soc & Eco R<br>Greater Manchester Immigration Aid Unit (GMIAU)<br>Migr Right<br>Joint Council for Welfare of Immigrants<br>Migr Right<br>Just Fair<br>Soc & Eco R<br>Law for Change CIC<br>Acc 2 Just<br>Leeds Refugee Forum<br>Migr Right<br>Manuel Bravo<br>Migr Right<br>Migrants Organise<br>Migr Right<br>Outlandish (Space 4 Project)<br>T 4 Good<br>POMOC<br>Migr Right<br>Public Interest Law Centre<br>Acc 2 Just<br>Public Law Project<br>Acc 2 Just<br>RAMFEL<br>Migr Right<br>Safe Passage<br>Acc 2 Just<br>Social Change Nest CIC (Access to Justive Fund)<br>Supp Com Gr<br>South Yorkshire Refugee Law & Justice<br>Migr Right<br>War on Want<br>Acc 2 Just<br>**Grants made to other institutions (less than £20,000)**<br>Various<br>**Grants made to Israel based charities:**<br>Alliance for Israel's Future Shutafut Sharaqa<br>Supp Com Gr<br>ARTEAM<br>Supp Com Gr<br>Call.Activit<br>Supp Com Gr<br>FUCAE<br>Supp Com Gr<br>Haraba<br>Supp Com Gr<br>I'Iam<br>Supp Com Gr<br>Injaz<br>Supp Com Gr<br>Isha L'Isha<br>Supp Com Gr<br>Kav LaOved<br>Supp Com Gr<br>Kedma<br>Supp Com Gr<br>Nine Seven Two<br>Supp Com Gr<br>Tishreen<br>Supp Com Gr<br>Women Against Violence<br>Supp Com Gr<br>**Grants made to other Israel based charities (less than £20,000)** Supp Com Gr<br>**Total Grants**|**2023**<br>**2022**<br>**£**<br>**£**<br>872,045<br>302,000<br>31,178<br>-<br>50,000<br>-<br>87,694<br>55,000<br>-<br>-<br>50,000<br>30,000<br>-<br>30,000<br>-<br>68,500<br>-<br>35,000<br>35,000<br>30,000<br>-<br>40,000<br>-<br>60,000<br>50,000<br>20,000<br>-<br>20,000<br>-<br>25,000<br>45,440<br>20,000<br>-<br>20,000<br>-<br>213,721<br>165,643<br>43,504<br>-<br>45,641<br>-<br>67,404<br>-<br>55,511<br>-<br>20,533<br>-<br>45,641<br>-<br>21,567<br>-<br>30,466<br>-<br>16,400<br>-<br>44,916<br>-<br>41,418<br>-<br>104,882<br>-<br>42,376<br>-<br>142,372<br>-<br>**2,430,769**<br>**648,083**|
|---|---|



All grants have been made to institutions and not to individuals. 

**Key to Grant Categories** T 4 Good Tech for Good Soc & Eco R Social & Economic Rights Acc 2 Just Access to Justice Rac Just Racial Justice Migr Right Migrants Rights Peac & H.Rts Peace & Human Rights Supp Com Gr Supporting Community Groups 

15 



**(A Company limited by guarantee)** 

## **DISRUPT FOUNDATION** 

## **Notes forming part of the financial statements 31 December 2023** 

## **3 CHARITABLE EXPENDITURE (Continued)** 

The Foundation supports general charitable objectives as outlined in the Trustees' Report. In accordance with SORP 2019 FRS 102 Grant-making should include the costs of the grants and associated support costs. These are as follows: 

|**Support costs**<br>BDB Pitmans LLP Administration fees<br>BDB Pitmans LLP Bookkeeping fees<br>Israel Legal fees<br>Office Rental<br>Employees' travel and other expenses<br>Employees' Salaries and associated costs (see Note 6)<br>H W Fisher - Payroll fees<br>Bank Charges<br>UK Conference/Tech Workshop<br>Women's Housing Conference<br>Consultancy fees<br>Israel - Istishara Consultancy and Operational costs<br>IT/Subscriptions<br>**Governance costs**<br>MHA 2023 Audit<br>MHA 2022 Audit<br>**Total of support costs**<br>**Total of Charitable expenditure**<br>Charitable activities expenditure was unrestricted in nature.<br>**4 CASH AT BANK**<br>HSBC<br>**5 CREDITORS**<br>Grants payable*<br>Accruals<br>***Grants Payable Reconciliation (as above)**<br>Grant creditor brought forward<br>Grants awarded in year<br>Grants paid in year<br>Grant creditor carried forward|**2023**<br>**£**<br>23,093<br>3,300<br>10,464<br>6,000<br>3,226<br>131,580<br>984<br>2,121<br>835<br>2,787<br>61,588<br>324,884<br>4,719<br>15,000<br>295<br>**590,878**<br>**3,021,647**<br>**2023 **<br>**£**<br>1,161,291<br>**1,161,291**<br>**2023**<br>**£**<br>20,000<br>15,000<br>**35,000**<br>31,000<br>2,430,769<br>(2,441,769)<br>20,000|**2022**<br>**£**<br>21,598<br>954<br>-<br>2,400<br>883<br>72,276<br>1,060<br>131<br>-<br>78,146<br>71,308<br>160,304<br>117<br>-<br>14,400|
|---|---|---|
|||**423,577**|
||||
|||**1,071,660**|
|||**2022**<br>**£**<br>173,740|
|||**173,740**|
|||**2022**<br>**£**<br>31,000<br>14,400|
|||**45,400**|
|||-<br>648,083<br>(617,083)|
|||31,000|



16 



## **DISRUPT FOUNDATION** 

## **(A Company limited by guarantee)** 

## **Notes forming part of the financial statements 31 December 2023** 

## **6 STAFF COSTS** 

During the period, the Foundation employed an average of 2 staff. Staff costs are analysed as follows: 

|Wages and Salaries<br>Social Security Costs<br>Pensions|**2023**<br>**£**<br>113,500<br>13,843<br>4,237<br>**131,580**|**2022**<br>**£**<br>67,911<br>2,007<br>2,358|
|---|---|---|
|||**72,276**|



One employee received remuneration in excess of £60,000 per annum, in the banding of £70,000 - £80,000 (2022: None). 

Total employee benefits paid to the Key Management Personnel was £82,313 (2022: £53,284). 

## **7 DISCLOSURE OF TRUSTEES' REMUNERATION, BENEFITS AND EXPENSES** 

During the period, the Trustees received no personal remuneration, benefits or reimbursement of expenses in their capacity as Trustees. 

## **8 RELATED PARTY TRANSACTIONS** 

There have been no related party transactions in the year, other than those disclosed in Notes 6 and 7. 

17