Charity registration number 1200659 NBCS FOUNDATION CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 NBCS FOUNDATION CIO LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr P Fisher Ms S Bird Mr S Toogood MrT Edwards Charlty number 1200659 Registered offi¢e Piper House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX Independent examiner David Knight FCA CTA Carpenter Box Piper House 4 Dukes Court Bognor Road Chi¢hester West Sussex P019 8FX NBCS FOUNDATION CIO CONTENTS Page Trustees, report Independent examiner's report ststemenl of financial activities Balance sheèt Notes to the finanaal statements 6-11 NBCS FOUNDATION CIO TRUSTEES, REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2023 The trustees present their annual report and financial ststements for the period ended 30 September 2023. The financi81 ststemenls have been prepared in 8ccord8n¢e with the accounting policies sel out in the financial statements and comply with the charity's govérning document. thè Charitiès Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accoLJnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. leffective 1 January 20191. Oblactlvas and actlvltlès The NBCS Foundation's objective is the relief and rehabilitation of those in need due lo financial hardship, ill-health and alcohol and drug dependency through grant funding places at rehabilitation cenlres and through grant funding national initiatives which are focused on the rehabilitslion of individuals who are committing crime because of their alcohol and drug dependency. The Foundation's fundraising activities are primarily a gala dinner, which includes the sale of raffle tickets and an audion of goods and services. There is also, the o¢casional private donation. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achiovoments and porformanca Significant activities and achievements against objectives This was the Foundation's first year of opèration and the gala dinner was a su¢¢gssful evgnl that raisgd a good lev81 of funding for thè charity. As a result, several donations were made to a number of different charitable organisations that met with the Foundation's stated purpose. Flnaneial r•vl•w During the year, the charity made a surplus of £32,907. This is the charity's first year of operation and therefore the charity also had unrestricted reserves of £32,907 as at the period end dale of 3010912023. Reserves policy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintsined al 8 level equiv8lenl lo between th￿e and six month's expenditure. The trustees Consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's CLJrrent activities while consideration is givèn to ways in which additional funds may be raisad. This18vel of r8sèrv8S has been maintained throughout the period. Stnjcture, govemance and management The charity is a Charitable Incorporated Organisation ICIOI. The trustees who served during the period and up to the date of signature of the financial stalements were.. Mr P Fisher Ms S Bird Mr S Toogood MrT Edwards NBCS FOUNDATION CIO TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023 The Iruslees, report was approved by the Board of Trustees. Petth 7i41 Mr P Fisher Trustee 09 October 2024 Date= NBCS FOUNDATION CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NBCS FOUNDATION CIO I rewrt to the trustees on my examination of the financial statements of NBCS Foundation CIO (the charity) for the period ended 30 September 2023. Rèsponslbllltlès and basls of rèport As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Acti. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Your allenlion is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Ch8rrties preparing their accounts in 8ccord8n¢& with the Fin8n¢i81 Reporting Stsndard 8ppli¢8ble in the UK and Republic ol Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Ststement of Recommènded Practicè issuèd on 1 April 2005 whieh is rèfèrred to in thè éxtant règulations but has now b88n withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordan with Generally Ac￿pted Accounting Practi￿ effective for reporting periods beginning on or after 1 January 2015. I have completed my examinab'on. I confimi that no malters have corne to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an Independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the financial slalements lo be reached. Dav(d Kn*ht David Knight FCA CTA Carpenter Box Piper House 4 Dukes Court Bognor Road Chichester Wesl Sussex P019 8FX 09 October 2024 Dated.. NBCS FOUNDATION CIO STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Unrestricted funds 2023 Notes Incom• from: Donations and legacies Other trading activities 25,100 58,987 Total income 84,087 Expenditure on.. Raising funds Charitable activities 48,830 2,350 Total expgndilurg 51,180 Net income and movement in funds 32,907 Reconciliation of funds.. Fund balan¢ès at 12 O¢tober 2022 Fund balances at 30 September 2023 32,907 The statement of finan¢ial a¢livilies in¢lud$s all gains and losses recognised in the period. All in¢ome and expenditLJre derive from ¢onlinLJing activities. NBCS FOUNDATION CIO BALANCE SHEET ASAT30 SEPTEMBER 2023 2023 Notes Current assets Debtors Cash at bank and in hand 11 17,250 23,414 40,664 7,757 Cr8dltors: amounts falllng du8 wlthln one year 12 Nel current assets 32,907 The funds of thè charlty Unrestricted funds 32,907 32,907 09 October 2024 The financial statements were approved by the trustees on Petety 7c41 Mr P Fisher Trustee NBCS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2023 A¢¢ountlng pollcles Charity infomiation NBCS Foundalion CIO is a Charitable Incorporated Organisation. The charity is registered in England and Wales. The registered office is 4 Dukes Court, Piper House, Bognor Road, Chichester, P019 8FX. 1.1 R8portlng ￿rIOd The accounting period commences from the registration date with the charity comrllission 1211012022 10 301 0912023. 1.2 Accounting convention The fin8n¢ial statements have been prepared in accordance with the charty's Igoveming documenll, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in thg UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities.. Statemènt of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not lo prepare a Slalement of Gash Flows. The financial statements have departed from the Charities (Accounts and Reportsl Regulations 2008 only lo the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Rtsgulations bul which has since been withdrawn. The financial slalements are prepared in sterting, which is the functional currency of the charity. Monetary amounts in these financial slalements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and lo include investment properties and ￿rtain financial instruments al fair Valuel. The principal accounting policies adopted are sel out below. 1.3 Going concern At the time of approving thè financial statèmènts, thé trustèas havè a réasonablè Èxpectation that thè charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trLJStees continue to adopt the going concern basis of accounling in preparing the financial statements. 1.4 Charitable funds Unrestricted funds are available for use al the discretion of the trusltres in furtherance of their charitable obje¢tiVgS. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial statements. Endowment funds are subject lo specific conditions by donors that the capital rnusl be maintained by the ¢harily. 1.5 Income Income is recognised when the charity is legally enlilled lo it after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations arè recognised on r8cÈipt. Oth8r donations are rècognisad oncè thè charity has baen notified of the donation, unless Performan￿ conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised al the time of the donation. NBCS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Accounting policies (Continued} Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.6 Expenditu Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single 8Gtivity are allocated direGtly lo that aclivily. Shar8d Gosls which contribute to more than one 8Gtivity and support Costs which are not attributsble to a single activity are apportioned between those activities on a basis consistènt with the use of resources. Central staff costs are allocated on the basis of b'me spent, and depreciation charges are allocated on the portion of the asset's use. 1.7 Cash and cash equivalents Cash and cash equivalents include ¢8sh in h8nd, deposits held at ¢all with b8nks, other short-ttrm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Finan¢ial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the instrument. Finan¢i81 assets and liabilities are offset, with the net amounts presented in the finan¢i81 statements, when tharè is a lègally enforceable right to set off the rècognised amounts and tharè is an int8ntion to s8ttla on a nat basis or to realise thè asset and settle the liability simultaneously. Basi¢ financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rnelhod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amort15ed. 8asic financial liabilities B8si¢ finan¢i81 liabilities, including Creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are re￿gniSed initially al transaction price and subsequently measured at amortised Cost using the effective interest method. NBCS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Accounting policies (Continued} Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or ancelled. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other SoUr￿s. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results m8y differ from these estirnales. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and fulure periods where the revision affects both current and future periods. Incom8 from donatlons and lègaclès Unro$trl¢t¢d Unr¢$trl¢ted funds funds 2023 Donations and gifts Grants Received 100 25,000 25,100 Grants receivable for core activities The JD Foundation 25,000 25,000 Income from other trading activities Unrestricted Unrestricted fund$ funds 2023 Fundraising events 58,987 NBCS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Exp¢ndltur• on ral$lng funds Unrestri¢ted Unrestri¢ted funds funds 2023 Fundraising and publicity Staging fundraising events Fundraising agents Advertising 33,613 14,825 392 48,830 Expenditure on charitable activities Support and governance costs 2023 Direct costs Shar• of support and govèrnanc• costs {sè• nota 71 Support Governance 550 1.800 2,350 Analysis by fund Unrestricted funds 2,350 Support Costs allocated to activities 2023 Insurance Computer Costs Travel Costs Governance costs 347 90 113 1,800 2,350 Analysod ￿twO0n. Support and governance costs 2,350 The trustees consider that all support and govemance costs should be allocated lo the charitable activities of the Trust. NBCS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023 Trustees None of the trustees lor any persons ¢onneded with them) received any remuneration or benefits from the charity during the period. Employees The average monthly number of employees during the period was O Izerol. 2023 Number Total There were no employees whose annual remuneration was more than £60,000. 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11 Debtors 2023 Amounts falling due within one year- Trade debtors 17,250 12 Creditors- amounts falling due within one year 2023 Trade creditors A¢cruals and deferred income 5,957 1.800 7,757 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At 12 October 2022 Incoming resources Resources At30 expended September 2023 General funds 84,087 151,1801 32,907 10- NBCS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2023 14 Related party tran$actlons Transactions with ￿lated parties During the period the charity entered into the following transaclions with related parties.. During the period, NBCS Foundation CIO (The Foundation) purchased from National Business Crime Solution Ltd (The Company), management ServI￿S for fundraising activities tolalling £14,825. Included in Trade Creditors is £5,911 owed by the Foundation to the Company as al the balance sheet dale. Mr Tim Edwards is a trustee of the Foundation and also a dire¢lor of the Company. Ms Sarah Bird is a trustee of the Foundation and also a senior manager at the Company.