AURCURA Aurora Foundation l May 2024 to 30 April 2025
Table of Contents
About our Annual Report 3 Report from the Trustees 5 Accountants Report 6 Statement of Financial Position 7 Statement of Activities 8 Statement of Cash flows 9 Notes to the Financial Statements 10
About our Annual Report
Structure, Governance and Management
Aurora Foundation is a charitable trust registered in England and Wales and governed by its trust deed, which sets out its charitable objects and governance framework. The trustees are responsible for the overall control and strategic direction of the charity and for ensuring compliance with charity law and regulation.
Trustees are appointed in accordance with the governing document. During the period, the trustees oversaw the orderly conclusion of the charity’s affairs following the decision to cease operations.
Objectives and Activities
The charity’s objectives are to advance charitable and educational purposes in accordance with its governing document. During the period under review, the charity did not undertake new fundraising or charitable programme activity. The trustees had previously concluded the charity’s active operations and, during this period, focused solely on concluding the charity’s affairs.
In reviewing activities, the trustees have had due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
During the period from 1 May 2024 to 30 April 2025, the charity did not carry out active charitable programmes. The trustees’ efforts were directed towards ensuring that the charity’s prior activities had been appropriately concluded and that all remaining matters were managed in an orderly and responsible manner.
The trustees consider that the charity fulfilled its intended charitable purpose in prior periods and that no further activity was required during the period.
Financial Review
Total other income for the period amounted to £1,206,388. No expenditure was incurred in furtherance of charitable activities during the period. The financial results reflect the final settlement of balances and obligations arising from earlier periods.
The trustees resolved to cease the charity’s operations and accordingly focused on the settlement of liabilities and the conclusion of the charity’s financial affairs. The reported deficit reflects the final recognition of outstanding obligations prior to cessation.
Reserves Policy: At the end of the reporting period, the charity held no free reserves. The trustees consider this position appropriate in light of the decision to cease operations and the settlement of the charity’s liabilities.
Basis of Preparation / Going Concern: During the period, the trustees resolved to cease the charity’s operations following the completion of its activities. As a result, the financial statements have not been prepared on a going concern basis.
Plans for Future Periods
Following the decision to cease operations, the trustees do not intend to undertake any further charitable activities or fundraising.
The trustees’ remaining actions are limited to final administrative matters, including the settlement of liabilities, preparation and approval of final accounts, and the application of any remaining assets in accordance with the charity’s governing document and applicable charity law.
Subject to completion of these matters, the trustees intend to proceed with the formal closure of the charity.
Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and the Charities
SORP (FRS 102 – 2019).
They are also responsible for keeping proper accounting records, safeguarding the assets of the charity, and taking reasonable steps to prevent and detect fraud and other irregularities.
Approval
This report was approved by the trustees.
Aurora Foundation | Annual Report – 30 April 2025
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About our Annual Report
Reporting period
This Annual Report provides material information relating to our business model, operating context, stakeholder interests, performance and prospects covering the operating year of 01 May 2025 to 30 April 2025 with comparative figures with the filed annual accounts for the period ended 1 January 2023 to 30 April 2024.
Country of incorporation
United Kingdom
Entity registration number
1199325
Nature of business and principal activities
Charitable/educational trust or foundation operation
Registered office
Clerks Court 5th Floor, 18-20 Farringdon Lane, London, United Kingdom, EC1R 3AU
Level of assurance
No Assurance
Aurora Foundation | Annual Report – 30 April 2025
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Report from the Trustees
Introduction
The Trustees present the Annual Report and financial statements for the period ended 30 April 2025. During the period, the Trustees resolved to cease the charity’s operations following the completion of its charitable activities.
Accordingly, the period under review reflects the conclusion of the charity’s affairs rather than the continuation of active charitable programmes. The Trustees consider that the charity has fulfilled its intended purpose, and the results for the period are clearly reflected in this Annual Report.
Statement and responsibility
The Trustees are responsible for the maintenance of adequate accounting records, the preparation and integrity of the annual financial statements, and all related information in accordance with applicable law and the Charities SORP (FRS 102 – 2019).
The Trustees are also responsible for the charity’s system of internal financial controls. These are designed to provide reasonable, but not absolute, assurance as to the reliability of the financial statements and to safeguard the charity’s assets during the orderly conclusion of its affairs.
Events after the reporting period
There have been no material events subsequent to the reporting date other than matters relating to the orderly closure of the charity, including the settlement of liabilities and completion of administrative and regulatory requirements.
Approval
The Annual Report was approved by the Trustees.
Aurora Foundation | Annual Report - 30 April 2025
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Accountants Report
No Assurance
In the preparation of this Annual Report, we have relied upon the unaudited financial and non-financial information available for the entity. We have applied our expertise in accounting and financial reporting to assist in the preparation and presentation of these annual financial statements. We do not express an opinion or any other form of assurance on the accuracy of the information presented.
Aurora Foundation | Annual Report - 30 April 2025
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Statement of Financial Position
1 May 2024 to 30 April 2025 vs 01 January 2023 - 30 April 2024
No Assurance - See Accountant's Report
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Notes FY2025 FY2023/24
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| Notes | FY2025 | FY2023/24 | |
|---|---|---|---|
| Assets | |||
| CurrentAssets | £- - - |
£- - - |
|
| Cash and cash equivalents | |||
| Restricted cash | |||
| Prepayments | |||
| Total Current Assets | £- | £- | |
| Non-Current Assets | - | - | |
| OfficeEquipment | |||
| Total Non-Current Assets | £- | £- | |
| Total Assets | £- | £- | |
| Liabilities | |||
| CurrentLiabilities | |||
| Trade and other payables | £- | £1,206,388 | |
| Total Current Liabilities | £- | £1,206,388 | |
| Non-Current Liabilities | |||
| Deferred Income Grant 2023 | £- | £- | |
| Total Non-Current Liabilities | £- | £- | |
| Total Liabilities | £- | £1,206,388 | |
| Net Assets | £- | (£1,206,388) |
For the financial period 1 May 2024 to 30 April 2025, the foundation was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. These financial statements have been prepared in accordance with the Charities SORP (FRS 102 – 2019).
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Board of Trustees.
Aurora Foundation | Annual Report - 30 April 2025
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Statement of Activities
1 May 2024 to 30 April 2025 vs 01 January 2023 - 30 April 2024
No Assurance - See Accountant's Report
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Notes FY2025 FY2023/24
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| Notes | FY2025 | FY2023/24 | |
|---|---|---|---|
| Income and Gains | |||
| Donations - Events | - | £- | £852,048 |
| Sponsorship | - | - | 1,153,472 |
| Donations -Founders | - | - | 1,379,413 |
| Other Revenue | - | 1,206,388 | (35) |
| Total Income and Gains | - | £1,206,388 | £3,384,898 |
| Expenses | |||
| Accountancy - NHG - monthly | - | £ - | £4,940 |
| Consulting | - | - | 64,233 |
| Depreciation expense | - | - | 1,569 |
| Employers National Insurance | - | - | 10,313 |
| Grants - various | - | - | 544,560 |
| Other expenses | - | - | 125,590 |
| Professional fees | - | - | 70,148 |
| Salaries | - | - | 80,145 |
| Staff Training | - | - | 420 |
| Travel and Susbsistence | - | - | 8,069 |
| Unrealised Currency Gains* | - | - | 25,431 |
| Website creation and maintenance | - | - | 1,015 |
| Write offs | - | - | 34,611 |
| TotalExpenses | - | - | £971,043 |
| Surplus/Deficit | - | £1,206,388 | (£562,999) |
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Aurora Foundation | Annual Report - 30 April 2025
Statement of Cash flows
1 May 2024 to 30 April 2025 vs 01 January 2023 - 30 April 2024
No Assurance - See Accountant's Report
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Notes FY2025 FY2023/24
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| Notes FY2025 |
FY2023/24 | ||
|---|---|---|---|
| Total Income and Gains for the year | £1,206,388 | (£562,999) | |
| Net cash inflow from operating activities | |||
| Decrease/(Increase) in receivables | - | 361,606 | |
| Increase/(Decrease in payables | (1,206,388) | (261,631) | |
| Net cash (used in) / generated from operating activities | - | (463,024) | |
| Net cash inflow from investing activities | |||
| Acquisition of Fixed Assets | - | 1,569 | |
| Net cash inflow from investing activities | - | 1,569 | |
| Net movement in cash and cash equivalent | - | (461,455) | |
| Cash and cash equivalents at the beginning of year | - | 461,455 | |
| Cash and cash equivalents at the end of year | £- | £- |
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Aurora Foundation | Annual Report - 30 April 2025
Notes to the Financial Statements
1 May 2024 to 30 April 2025 vs 01 January 2023 - 30 April 2024
No Assurance - See Accountant's Report
Accounting Policies
The financial statements have been prepared in accordance with the Charities SORP (FRS 102 – 2019) and under the historical cost convention.
As the Trustees resolved to cease the charity’s operations during the period, the financial statements have been prepared on a non-going-concern basis, which the Trustees consider appropriate in the circumstances.
Fund Accounting
All funds held by the charity during the year were unrestricted funds.
Balances held with CAF America represent funds held in transit for charitable purposes. The charity does not retain beneficial ownership of these funds, which are held as agent only.
Trustee Remuneration
No trustees received remuneration or reimbursed expenses during the year.
Related Party Transactions
No donations were received from founders during the year.
The Trustees confirm that any related party transactions entered into in prior periods were conducted on normal commercial terms and in the best interests of the charity.
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Aurora Foundation | Annual Report - 30 April 2025