Trustees’ Annual Report for the period
From 24 October 2022 to 31 December 2023
Charity name: Nucleus Foundation (the “ Charity ") Charity registration number: 1200800
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The Charity’s purpose is to; relieve those who are in need, whether as a result of financial hardship, disability, illness, age or other disadvantage; preserve and protect good health; and advance education and opportunities available to beneficiaries. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The Charity has made a number of grants including to a family whose child required heart surgery in London who could not afford accommodation in London so that the family could be with the child while he was undergoing and recovering from surgery; an individual who had become homeless due to relationship breakdown and who had no savings to pay a deposit in a rental property; and a family whose child was suffering from severe mental health issues and who could not afford counselling for their child. In addition, the Charity has funded a cohort of women to study for their IFA exams who would not have otherwise had the means to educate themselves. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity |
Para 1.18 | The trustees are aware of and have regard to the guidance issued by the Charity Commission on public benefit. For example, when reviewing grant applications the trustees looking to ensure that the Charities |
| Commission on public benefit |
objects are being met in a manner that benefits a sufficient section of the public, including by considering grant applications from locations throughout the UK. The trustees are also aware on the guidance in relation to conflicts of interest and have implemented a grant-making policy and process grants are made in accordance with Charity Commission guidance. |
|
|---|---|---|
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | The Charity has a policy on grant making which sets out the principles, criteria and processes that govern how grants are made to individuals and organisations to further the Charity’s objects. |
| Policy on social investment including program related investment |
Para 1.38 | The Charity does not have a policy on social investment as it is not relevant to the Charity’s activities. |
| Contribution made by volunteers |
Para 1.38 | The Charity is grant-making only and therefore does not have a requirement to work with volunteers. |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The Charity has made grants totalling £33,565 in furtherance of its objects of relieving hardship and preserving good health as outlined above. |
| Additional information (optional) You may choose to include further statements |
where relevant about: | |
| Achievements against objectives set |
Para 1.41 | The Charity’s objects are detailed in the Charity’s constitution. All activities are undertaken with the Charity’s Purpose in mind. Grants are only made where one or more of the objects of the Charity apply and where there is need. |
| Performance of fundraising activities against objectives set |
Para 1.41 | Not applicable – the charity does not actively fundraise. |
| Investment performance against objectives |
Para 1.41 | The Charity holds cash in a term arrangements and has received interest payments from cash held with Santander totalling £8,246. |
|---|---|---|
| Other | ||
| Financial Review | ||
| Review of the charity’s financial position at the end of the period |
Para 1.21 | A full breakdown of the Charity’s financial position is set out in the Charity’s accounts. The Chairty’s total income was £632,994. The Charity has spent £37,621 on charitable activities. The Charity’s cash is at £598,973 and creditor’s amounts is at £3,600. Fund balances at 31 December 2023 is £595,373. None of the charity's activities were acquired or discontinued in the period. All funds are unrestricted. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The reserves policy statement is currently being prepared and will include; - the level of reserves held, and why they are held; - where material funds have been designated, the quantity of the designated funds, together with an explanation of the purposes of the designations. - where material funds have been set aside for future expenditure, the likely timing of the expenditure; and - where any fund is materially in deficit, the circumstances giving rise to the deficit and details of the steps being taken to eliminate the deficit must also be reported. |
| Amount of reserves held | Para 1.22 | The Charity’s free reserves total £595,373. The trustees believe that this level is sufficient to ensure that the Charity can continue to pursue its objects. |
| Reasons for holding zero reserves |
Para 1.22 | Not applicable. |
| Details of fund materially in deficit |
Para 1.24 | The Charity does not have a deficit. |
| Explanation of any uncertainties about the |
Para 1.23 | The Charity is expected to continue as a going concern for the foreseeable future. |
charity continuing as a going concern
| Additional information (optional) You may choose to include further statements |
Additional information (optional) You may choose to include further statements |
where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | The Charity is funded predominantly by donations from the Nucleus Financial management team. |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | The Charity is in the process of preparing an investments policy and objectives which will include; - the type of investments to be made, to achieve growth; - the objectives of the investments (for example capital growth, income, a balance between the two - or total return); - how much is available to invest; and - how long investments should be made for. The investments policy will not cover social investments as this is not relevant to the Charity’s activities. |
| A description of the principal risks facing the charity |
Para 1.46 | The trustees consider that the principal risks facing the Charity are: - failure to act in accordance with the Charity’s Constitution; - failure to comply with charity law, regulations and guidance; - failure to plan and consider future potential risks; - failure to identify conflicts of interest (in particular in relation to Nucleus Financial); and - fraud/misuse of funds. The trustees look to mitigate these risks by following the grant-making processes which enable trustees to make informed decisions. The trustees have taken legal advice and received training from a law firm specialising in charity law in order to ensure that the trustees have a proper understanding charity law and their responsibilities. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
The governing document is the Charity’s constitution. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | The Charity is a Charitable Incorporated Organisation (“CIO”) with registration number 1200800. |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | The Charity’s Constitution sets out the following as requirements for trustees; - every charity trustee must be a natural person and over the age of 18 years; - if any checks conducted by the CIO reveal anything which might make the individual unsuitable to be appointed as a charity trustee they must not be appointed; - trustees can only act for the Charity once they signed an attestation that they understand objects and policies of the Charity, that they will keep confidential all information in relation to grant applications and there are no circumstances that exist that mean that they are ineligible to act as the trustee of a charity. |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | Training has been provided to all trustees of the Charity in relation to the Charity’s constitution, their responsibilities under charity law and the Charity’s policies and processes. |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | The Charity is a standalone charity and makes decisions via meetings of the trustees or via written approval of proposals (eg in relation to grant making). |
| Relationship with any related parties |
Para 1.51 | The Charity has an agreement in place with Nucleus Financial for the use of the Nucleus brand and to use Nucleus offices for trustee meetings and as the registered office for the Charity. The agreement’s purpose is to ensure clarity and avoid a conflict of interest between the Charity and Nucleus Financial. |
| Other |
Reference and Administrative details
| Charity name | Nucleus Foundation |
|---|---|
| Other name the charity uses | Not applicable |
| Registered charity number | 1200800 |
| Charity’s principal address | Dunn's House, St. Paul's Road, Salisbury, Wiltshire, United Kingdom, SP2 7BF |
Names of the charity trustees who manage the charity
| 1 2 3 4 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Richard Rowney | Trustee | Fullyear | Not applicable. | |
| Kathryn Purves | Trustee | Fullyear | Not applicable. | |
| John Baker | Trustee | Fullyear | Not applicable. | |
| Alice Dixie | Trustee | Fullyear | Not applicable. |
– Corporate trustees names of the directors at the date the report was approved
Director name Not applicable.
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| Not applicable. |
Funds held as custodian trustees on behalf of others – NOT APPLICABLE
Description of the assets Not applicable. held in this capacity Name and objects of the Not applicable. charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for Not applicable. safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Accountancy firm | TC Sussex Limited (company number 06501676) |
The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN. |
Name of chief executive or names of senior staff members (Optional information)
Mark Cummins – Partner
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Not applicable.
Other optional information
Not applicable.
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| Alice | Dixie | |
Charity trustee |
||
rKOJ?Agn Enveknp2 ID." 1642D8F2-51F84779-B9A4-C14CFDB03359 Charliy Reglstration No. 1200800 NUCLEUS FOUNDATION TRUSTEES. REPORT AND ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023
DU9n EnvBIDpe10.. 1642D8F2-S1FT19-B9m-Cl4CFDB033S9 NUCLEUS FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION FOR THE PERIOD ENDED 31 DECEMBER 2023 Trust K E Pur¥•s J Baker RA Rowney ASRDL Charity numbtrr 12008 Principal addr811 Dunns House St Pauls Road Salisbury SP2 7BF Accountsnts TC Group The Courtyard ShohaM Road Upper Beeding steyning West Sus8ex BN44 3TN Bank•]> Santander UK plc 2 Triton Square R8g8nts Pkc8 London NW1 3AN
acun EnvelapB ID.. 1fj42D8F2.51FB-4779-89AA.C14CFDB03359 NUCLEUS FOUNDATION CONTENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 P•ge Tw$tees' report Attountan¢'$ report Ststernent of finanoal activities Balan sheet Statomènt of cash flows Noies to the accounts
ch)>jgn Emlcp8 ID." 1842D8F2-51FU77*B9M-C14CFOB03359 NUCLEUS FOUNDATION TRUSTEES. REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023 The Tru5te85 present th8 Annual Report, tO9ether the financial strdterwrts for Nudeus Foundation for th8 period to 31 Detsmber 2023. Th8 acenunts ¢ompty wth tIE Charities 2011. the charity's trust deed. and A¢nting and Réporting by Charities.. Statement of Recurnm&nded PractKe applicabk lo tharitie8 preparing th8ir accounts In accordan with the Financial Reporbng Stal8rd applIcate in the UKand Rèpubli¢ol Ir¢l8nd IFRS 1021 leffective 1 January 20191. Struc1?1 governance arwj managernnt The tharitywas established by a chorilable tryt deed Qn 22 October 2022. Th• Trusts8s who Eerved durirg the period We.. KEPWV J Baker RA Rowney ASRDixte W•M thwe a requirernent for new trustèes, these WOU be pJantnl•d and appointsd by t prcIpal trustee in consurtation wth the ott)ertru$te&s. • trust•os mast at kast annualty and re8W Invesbnent polcy and denations. Thorè #r• no ernployee8 of the tharity, Obloctlves. acttvi¢•¥ at)d fur• plans The Nudeus FoundaDon L% a grant-making tharity wh08e objects a to relve those who are in need (whether as a result of finanoal hardship, disability, dlne¥s. ag? or other disadvantage). pr8s•N• and proted good healh and advance edtJcatv)n and oppowbjnities. Th8 Nudeus Fwndalion has maLle a number of grants in thè ptriod, including to.. family whose chikl quired heart surg8ry in London bvho could not affDrd accornrnodation in London so that thg family ¢oukl be wth th& ehikl Whi he was undergoing 8nd recovering surgery, an indivkdyal who had b•eom• homeless due to relationship breakdown and ha no saving5 to pay 8 doposil in a rental property.. and a famity whose child was suffering fr¢ severe mevlal health su8 and who coubj not afford CDunsellI for their child. In addition, Charity has fijnded a cohortofwrmen to studytorthw IFAexamswho wwld not have otherwse had tho mèans to oducats themse. The Charity's fvturè plans Ore lo conknue makln9 9ronlg in line with ts tharitable obj8Ctives. Athlevements and perfowmanc• The Charity has made grants totalling £33,565 in fvrtharanc8 of it80bjedwesof r8liavlry hardship arm4 w&8ervlr gOj health. publ 8enefft The trusiees have paid due ward to the Charity CommiOn Guidan on 'Publi¢ ener in de(#dirKJ what activities the chaTity urKl8rtak£s. AJI activit8 undertaken a I08ed on our charitabl• purpes•s.
Lk¢usgn Envdop810.. 1842O8F2-S1F&477BO-C14cFD803359 NUCLEUS FOUNDATION TRUSTEES, REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Flnanclal Rovlew Th¢ finanaal report shows that tha Nudeus Foundation receiv8d incoma of £632,994. The Charity has spanl £37.621 on (aritable 8divilEs. Fund balances Ot 31 D8cemlJer 2023 is £595,373. Ail funds are unrestricted. Resorv•s pollcy The tharilrfs Unrestled Iree roserves totslbd £595,373 atlh? baTr shèatdatè. Tha trustees belwe that this vel 15 5uffiaent to ensurèthatthe charity Uld continLS0 rflhaw bvas a signsficantfall in incomewhilstthey sought furfhor fvnding or incom8 stieams and th•r8lom confirm that the charity is ocb'ng in line with the set rase$ policy. Trustse•' rnspons1bll1¢• In relation to the accounts The trustees we rosponsible for preparing th8 Trustèes, Rèport and the accnunls In a¢¢ordanc£ with applicab18 law and United lthn9dom Accounting Standards (Unitod Kingdom Generally Accep¢8d Aceounling Practieel. The law wuires the trustees to prepare ?On for è8th financ1 year whlch give a Inja and fair Ww of th8 state of affaits of the charty and of thè incoming resour and applicabon of r8source8. induding U)e and expendtture. of th• ¢harity lof that year In preparin9 the¥8 aUrtts, the trustees are requlred to. sèlect suitable accounting polKAes and then aFply t1M eonslst8ntly', obs•rve the method$ and princip5 in the ChaTitie5 SORP", make judsw)ents antt e6b"mates that are rg8¥onablè )d prudgnL' and pr8p?re aecounls on the goi corrn basis unkss f( is inapproJxi8t• to pr•sume that the thariiy will continue in operation. The trustees rèsponsible lor keeplng adeqyate ac*r)unting record8 thatdisdoso with reasonabb auracY at anytimethefinancial position ofthe tharity and enable them to ensure thatthe aUnts MplYwIth the Chariks Act 2011. They ar? also responsible for Safeguarding the assets of the tharity and h8nte ler laking rSOnabl8 step5 for the prevention and detection of fraud and other irr8gularith•S. On b&haif of th8 board of TNst••s R A Rowney Trusta8 22 October 2024 Datsd..
DroJgn Env8k)w ID: 1642D8F2-51F&47T9-BgM414CFDB03359 NUCLEUS FOUNDAnON INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NUCLEUS FOUNDATION I report to the charitytruste•s on myèxamination ofthe act[ ofth2 tharityforthe Feriadended 31 Lknc8mb•r 20ZJ which ar8 Set out on pag•s 4 to 9. R•6ponslbiliti•8 and basls of roport As th& ch8riW8 tStee6 you are responsibk8 for the preparation of the accounts in accordance with t Tequirements of the Charities Ad 20111'the Arfl. I report in r8sped of my examination ol tha a¢Uts card out undtsr Section 145 of the Ad in cgrrying Qut my examination I havefoll)wed all th& applicable Dlr•ct1or given by the Charty CDmm¢sion udEr section 14515llbl of the Act. Indendent exa$ statèment Since thecharity's gross ineome eeded £250,000 yourexaminermust be a memberofa botylIs in %dion 145 of the Act. l ojnfirrn that l am qualtfiod to undertake the examination bgcause l am a membar of the Awcpation ol Chartered Certiffed Accountsnts. whKh is on• of tho ted bodk?8. I have completed my examination. I confirm that no material matters have ¢tY71e to wny attentiDn in conngcon with the examlnation giving me r2USe to believe that in any rnaterial respect accounting r8ctsrds were not kept in rwsct of thè ch8rity as required by 5eLknn 130 of the Act,. or 2. the anIS do notaccord wllh those reCrds.. or 3. the accaunts do not (tmpty with thg appEable requirttrents concerning th8 form and content of attounts Set out in the Charits8 (Accounts and Réports) Regulations 20D8 otherthan any requir8rn8nt that thè atrounts give a 'tru8 8TrJ fair vEw' which Is not a ThattercOnSered as part of an Indepèrtd8nt èxarnination. I have noconrrns and hav8 come ¥cross no othermatters In nnectIo[Fwth the 8xamination to which att•ntion should be drawn in this iepcrt in order to enable a Fxope¥ und•rst*nding of the arunts to be rea¢FEd. thA8 CummTns FCCA FCIE On behalf ofT¢ Group The CoLtrtyard Shoreham Road Upper Beoding steyning West Sussex BN44 3TN
Docu ID". 1642D8F2-51FB4779-89AA-C14CFDB033S9 NUCLEUS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEM8ER 2023 Note8 Totsl 2023 Donations and grants Inv8strn?nts other incorne 624723 8.246 25 Total incomB 632.994 Ex nditur• on: Charitsble artivib 37.621 Total expendlture 37,621 Not incommOV9rn0n1 in funda 695,373 Fund balances at 24 Octobor 2022 Fund balance8 at 31 December 2023 595,373 None ofthe charitls activiks were aUired ordiscontinued in *he period. I ruTrA$ unre8trKted.
Dowwgn Enveknpe ID.. 1642D8F2-51FB477949M£14CFDB03359 NUCLEUS FOUNDATION BALANCE SHEET AS A T 31 DECEMBER 2023 2023 Notes ¢urTDnt assets Cash atbank and in harkl 598.973 598.973 Creditors.. amounts falllng du• wlthin one year 13.6001 NDt rurrent assets 595,3T3 Total agsets le88 current Ilablllt108 595,373 The funds of th8 charlty unrestn.cted funds 595,373 Totsl charltyfunds $95,373 22 october 2024 The OCUt5 were approved bythe Trustees on......................... "'YrnIX14EA7WIAD.:'" RA RoTreY Trusts0 Charfty No. 1200800
Dr*JJrApn Envèlop? ID.. l642D8F21FTl9-BgAA-Gl4cFDBo335g NUCLEUS FOUNDATION STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2023 2023 Nots8 Cash 0w3 from opgratlrfj a¢tivftieJ: Ngt in¢omellexpenditure) forthe period Adju9thNts for: Inu8a88 in creditors 594373 3,610 Net cash prDvided byllu$¢d inl operatlng activides $98,973 Not cash provlded bylluBed In) Investing actsvitse8 Change In cash and caBh equlvalents In th8 perlod 598,973 ¢a$h and ¢a$h u]Valents at the beginning of tho poriod Cash ¥h 94uivalenls attho end otth8 rIOd 698,973 Cash #nd cash ¢quarentS above a represented by". Cash at bank and In hand 598,973 598.973
wgn Env ID.. 1642D8F2.51F77B9AcI4CFDBo39 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Legal status ofthe charttable company Th9 tharty a tharitab InLrporaled or9anisatw)n Wister in England and Wal&s. Th• dHrity nurnbar can be found on legal and Idministration pa98. ¢ountlng poli¢io1 Ba818 of pparatIOn The financial slatèmants have been prepared under the Charitie8 A( 2011 In aeeordanc8 with appllcab aaUnt1rj standards and the current 12a191 Ststeffient Of Recommended Practic•, Accounting and Reporting by Charities SORP IFRS 1021. The charty meets the definition efa publicbenefitentrty under FRS 102. Thorg ore no rnat•Nal uncrt8inti8S about the charty'¥ abilily to ntInUe as o going conc£rn. Thefinanual slat$m•nts have teen prepar8d uThJer Ihe historical $t cy)nvention. Th• financial staternents indude all tran$action& ass•ts and liabilibe& The fvncticnal currency of the charity is pournjs st£rfing. tt8ms in the accounts ar• rounded to the nea$t pound. 11 12 Ineorng l inwme 1$ in¢lwJBd in the Statement of FancIal Activrt18s when re1Vable_ 13 Exppnditure Expenditure InLad in ststement of Financial ActEwties on 8n amals basis, wth fftcoverable Value Added Tax induded with th• itèm of e>penditure to whith it relate5. Governan costs compri$8 tha st$ of running the charity, induding ind8p•ndontexamination and awguntancyfèBs and any bgal advice lor the truste. Support eosts ats all inwrred in the underlakiny of th8 charilable activ.•$ ef the charity. Accumulated fundg Unrestricted fund5 aro fvnds which can b• u¥8d in acD)rdan wih the chart88 objects at the dts¢rets"on of the charity. 15 Cash at bank and In hand Cash at bank and in hand Includ cash and IRUKI 5hort-tern invgstments. The trustèès s•¢k 1¢ use shtjl and mediwn term depjsrts whére possible to maximi5B the rern mor4es held at th• bank and to manag& cssh flow_ 14 16 Crndltors and provislon8 Creditors and provisions are r?o)gnised where the charity ha5 a present r*Jligation resulting from a past event that Mll probably resutt in the transfèr of fund8 to a thlrd party and the amount due to setlle th• oblvJation (•n be measured or estirnat reliabty. Critical accountlng estlmat•s and judggmenls In the applic2tEDn of the tharity'5 accounting polic, tha trustees ar8 requlred to make iudg•mèntS, est"matos and assumpbons aboutthe ca1n9 amount of a88et¥ and118bilitEs that are not r88dity apparent trom other source& The estimat8s and assoc4ated assumption5 are basÈd on historical exp8rianc8 and othèr fadors Ihat are cOnS8d levant. Actual results may diff•r from thvde estimates. The È$timat¢s and underfwng 8ssumpOons arè reviewed C an ongoing ba$i$. Revision8 to aco)untins e5tirnates are recOgned in th• rItid in which th8 estimate is revi58d. The trustee5 do not consKler that th•r• ar8 any critiGqI estimaie5 or areas of JUdgent that need to b• brought to th¥ attention ol the re•J8rs ol the finanoal statern8nts.
Dcthsiyn Envalopp ID" 1642DeF2-51FB477WBgM£14CFD803359 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Income 2023 Donations 624723 Donations and l?gacles 624723 Intargjt re1vable 8.246 InvB8tmonts 8.246 Sundry income 2S Oth•r income 25 Total Incomo 632,994 expendllure Z023 ¢harltabfo activiti49 Grants Legal and profrs$ional cosis Support Costs Inote 51 Other costs 33.565 360 3,600 Charltabk aetiviti• 37.621 Totsl expenditure 37,621 Support ¢o$ts 2023 Gov8manca 8t$ 3,600 3.600 Governanc costs consist entirefy of ind8P8ndent examination and aCUnncY fees. Truste88 None of the trustees lor any persons connected with them) recaived any remunoration from the ¢horty durin9 Ihe period.
D¢Jgn En¥eloFe ID.. 164208F2-S1F779-B9A-Cl4CFDB03359 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 7 Ernploy••$ Thare wer8 no 8mploy888 during th8 P8md. Taxatlon Nudeus Foundation became a Te9iSt8rad charity Ino. 12008001 on 24 October 2022. AJI 8clivfaeE are undertaken to fu1 thè primsry objèctivas of tha L*arEty and ar8 tharèforo oxèmpt und•r Part 11 01 the Corpor81¥)n T8xAct 2010. Creilltors: amounts falllng du•wlthkn on• y•ar 2023 Ac£ruaL% 3,600 3,600 10 Related partytransactknns During tho riod, the tharty recgivgd a donation of £624.723 from m?rnbgrs ofthe manag•m•nt tèam of Nud•us Greup S•rvieès LIMI. a eempany of wh¢d) on• trus Is a dlrèctor.
rKOJ?Agn Enveknp2 ID." 1642D8F2-51F84779-B9A4-C14CFDB03359 Charliy Reglstration No. 1200800 NUCLEUS FOUNDATION TRUSTEES. REPORT AND ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023
DU9n EnvBIDpe10.. 1642D8F2-S1FT19-B9m-Cl4CFDB033S9 NUCLEUS FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION FOR THE PERIOD ENDED 31 DECEMBER 2023 Trust K E Pur¥•s J Baker RA Rowney ASRDL Charity numbtrr 12008 Principal addr811 Dunns House St Pauls Road Salisbury SP2 7BF Accountsnts TC Group The Courtyard ShohaM Road Upper Beeding steyning West Sus8ex BN44 3TN Bank•]> Santander UK plc 2 Triton Square R8g8nts Pkc8 London NW1 3AN
acun EnvelapB ID.. 1fj42D8F2.51FB-4779-89AA.C14CFDB03359 NUCLEUS FOUNDATION CONTENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 P•ge Tw$tees' report Attountan¢'$ report Ststernent of finanoal activities Balan sheet Statomènt of cash flows Noies to the accounts
ch)>jgn Emlcp8 ID." 1842D8F2-51FU77*B9M-C14CFOB03359 NUCLEUS FOUNDATION TRUSTEES. REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023 The Tru5te85 present th8 Annual Report, tO9ether the financial strdterwrts for Nudeus Foundation for th8 period to 31 Detsmber 2023. Th8 acenunts ¢ompty wth tIE Charities 2011. the charity's trust deed. and A¢nting and Réporting by Charities.. Statement of Recurnm&nded PractKe applicabk lo tharitie8 preparing th8ir accounts In accordan with the Financial Reporbng Stal8rd applIcate in the UKand Rèpubli¢ol Ir¢l8nd IFRS 1021 leffective 1 January 20191. Struc1?1 governance arwj managernnt The tharitywas established by a chorilable tryt deed Qn 22 October 2022. Th• Trusts8s who Eerved durirg the period We.. KEPWV J Baker RA Rowney ASRDixte W•M thwe a requirernent for new trustèes, these WOU be pJantnl•d and appointsd by t prcIpal trustee in consurtation wth the ott)ertru$te&s. • trust•os mast at kast annualty and re8W Invesbnent polcy and denations. Thorè #r• no ernployee8 of the tharity, Obloctlves. acttvi¢•¥ at)d fur• plans The Nudeus FoundaDon L% a grant-making tharity wh08e objects a to relve those who are in need (whether as a result of finanoal hardship, disability, dlne¥s. ag? or other disadvantage). pr8s•N• and proted good healh and advance edtJcatv)n and oppowbjnities. Th8 Nudeus Fwndalion has maLle a number of grants in thè ptriod, including to.. family whose chikl quired heart surg8ry in London bvho could not affDrd accornrnodation in London so that thg family ¢oukl be wth th& ehikl Whi he was undergoing 8nd recovering surgery, an indivkdyal who had b•eom• homeless due to relationship breakdown and ha no saving5 to pay 8 doposil in a rental property.. and a famity whose child was suffering fr¢ severe mevlal health su8 and who coubj not afford CDunsellI for their child. In addition, Charity has fijnded a cohortofwrmen to studytorthw IFAexamswho wwld not have otherwse had tho mèans to oducats themse. The Charity's fvturè plans Ore lo conknue makln9 9ronlg in line with ts tharitable obj8Ctives. Athlevements and perfowmanc• The Charity has made grants totalling £33,565 in fvrtharanc8 of it80bjedwesof r8liavlry hardship arm4 w&8ervlr gOj health. publ 8enefft The trusiees have paid due ward to the Charity CommiOn Guidan on 'Publi¢ ener in de(#dirKJ what activities the chaTity urKl8rtak£s. AJI activit8 undertaken a I08ed on our charitabl• purpes•s.
Lk¢usgn Envdop810.. 1842O8F2-S1F&477BO-C14cFD803359 NUCLEUS FOUNDATION TRUSTEES, REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Flnanclal Rovlew Th¢ finanaal report shows that tha Nudeus Foundation receiv8d incoma of £632,994. The Charity has spanl £37.621 on (aritable 8divilEs. Fund balances Ot 31 D8cemlJer 2023 is £595,373. Ail funds are unrestricted. Resorv•s pollcy The tharilrfs Unrestled Iree roserves totslbd £595,373 atlh? baTr shèatdatè. Tha trustees belwe that this vel 15 5uffiaent to ensurèthatthe charity Uld continLS0 rflhaw bvas a signsficantfall in incomewhilstthey sought furfhor fvnding or incom8 stieams and th•r8lom confirm that the charity is ocb'ng in line with the set rase$ policy. Trustse•' rnspons1bll1¢• In relation to the accounts The trustees we rosponsible for preparing th8 Trustèes, Rèport and the accnunls In a¢¢ordanc£ with applicab18 law and United lthn9dom Accounting Standards (Unitod Kingdom Generally Accep¢8d Aceounling Practieel. The law wuires the trustees to prepare ?On for è8th financ1 year whlch give a Inja and fair Ww of th8 state of affaits of the charty and of thè incoming resour and applicabon of r8source8. induding U)e and expendtture. of th• ¢harity lof that year In preparin9 the¥8 aUrtts, the trustees are requlred to. sèlect suitable accounting polKAes and then aFply t1M eonslst8ntly', obs•rve the method$ and princip5 in the ChaTitie5 SORP", make judsw)ents antt e6b"mates that are rg8¥onablè )d prudgnL' and pr8p?re aecounls on the goi corrn basis unkss f( is inapproJxi8t• to pr•sume that the thariiy will continue in operation. The trustees rèsponsible lor keeplng adeqyate ac*r)unting record8 thatdisdoso with reasonabb auracY at anytimethefinancial position ofthe tharity and enable them to ensure thatthe aUnts MplYwIth the Chariks Act 2011. They ar? also responsible for Safeguarding the assets of the tharity and h8nte ler laking rSOnabl8 step5 for the prevention and detection of fraud and other irr8gularith•S. On b&haif of th8 board of TNst••s R A Rowney Trusta8 22 October 2024 Datsd..
DroJgn Env8k)w ID: 1642D8F2-51F&47T9-BgM414CFDB03359 NUCLEUS FOUNDAnON INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NUCLEUS FOUNDATION I report to the charitytruste•s on myèxamination ofthe act[ ofth2 tharityforthe Feriadended 31 Lknc8mb•r 20ZJ which ar8 Set out on pag•s 4 to 9. R•6ponslbiliti•8 and basls of roport As th& ch8riW8 tStee6 you are responsibk8 for the preparation of the accounts in accordance with t Tequirements of the Charities Ad 20111'the Arfl. I report in r8sped of my examination ol tha a¢Uts card out undtsr Section 145 of the Ad in cgrrying Qut my examination I havefoll)wed all th& applicable Dlr•ct1or given by the Charty CDmm¢sion udEr section 14515llbl of the Act. Indendent exa$ statèment Since thecharity's gross ineome eeded £250,000 yourexaminermust be a memberofa botylIs in %dion 145 of the Act. l ojnfirrn that l am qualtfiod to undertake the examination bgcause l am a membar of the Awcpation ol Chartered Certiffed Accountsnts. whKh is on• of tho ted bodk?8. I have completed my examination. I confirm that no material matters have ¢tY71e to wny attentiDn in conngcon with the examlnation giving me r2USe to believe that in any rnaterial respect accounting r8ctsrds were not kept in rwsct of thè ch8rity as required by 5eLknn 130 of the Act,. or 2. the anIS do notaccord wllh those reCrds.. or 3. the accaunts do not (tmpty with thg appEable requirttrents concerning th8 form and content of attounts Set out in the Charits8 (Accounts and Réports) Regulations 20D8 otherthan any requir8rn8nt that thè atrounts give a 'tru8 8TrJ fair vEw' which Is not a ThattercOnSered as part of an Indepèrtd8nt èxarnination. I have noconrrns and hav8 come ¥cross no othermatters In nnectIo[Fwth the 8xamination to which att•ntion should be drawn in this iepcrt in order to enable a Fxope¥ und•rst*nding of the arunts to be rea¢FEd. thA8 CummTns FCCA FCIE On behalf ofT¢ Group The CoLtrtyard Shoreham Road Upper Beoding steyning West Sussex BN44 3TN
Docu ID". 1642D8F2-51FB4779-89AA-C14CFDB033S9 NUCLEUS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEM8ER 2023 Note8 Totsl 2023 Donations and grants Inv8strn?nts other incorne 624723 8.246 25 Total incomB 632.994 Ex nditur• on: Charitsble artivib 37.621 Total expendlture 37,621 Not incommOV9rn0n1 in funda 695,373 Fund balances at 24 Octobor 2022 Fund balance8 at 31 December 2023 595,373 None ofthe charitls activiks were aUired ordiscontinued in *he period. I ruTrA$ unre8trKted.
Dowwgn Enveknpe ID.. 1642D8F2-51FB477949M£14CFDB03359 NUCLEUS FOUNDATION BALANCE SHEET AS A T 31 DECEMBER 2023 2023 Notes ¢urTDnt assets Cash atbank and in harkl 598.973 598.973 Creditors.. amounts falllng du• wlthin one year 13.6001 NDt rurrent assets 595,3T3 Total agsets le88 current Ilablllt108 595,373 The funds of th8 charlty unrestn.cted funds 595,373 Totsl charltyfunds $95,373 22 october 2024 The OCUt5 were approved bythe Trustees on......................... "'YrnIX14EA7WIAD.:'" RA RoTreY Trusts0 Charfty No. 1200800
Dr*JJrApn Envèlop? ID.. l642D8F21FTl9-BgAA-Gl4cFDBo335g NUCLEUS FOUNDATION STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2023 2023 Nots8 Cash 0w3 from opgratlrfj a¢tivftieJ: Ngt in¢omellexpenditure) forthe period Adju9thNts for: Inu8a88 in creditors 594373 3,610 Net cash prDvided byllu$¢d inl operatlng activides $98,973 Not cash provlded bylluBed In) Investing actsvitse8 Change In cash and caBh equlvalents In th8 perlod 598,973 ¢a$h and ¢a$h u]Valents at the beginning of tho poriod Cash ¥h 94uivalenls attho end otth8 rIOd 698,973 Cash #nd cash ¢quarentS above a represented by". Cash at bank and In hand 598,973 598.973
wgn Env ID.. 1642D8F2.51F77B9AcI4CFDBo39 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Legal status ofthe charttable company Th9 tharty a tharitab InLrporaled or9anisatw)n Wister in England and Wal&s. Th• dHrity nurnbar can be found on legal and Idministration pa98. ¢ountlng poli¢io1 Ba818 of pparatIOn The financial slatèmants have been prepared under the Charitie8 A( 2011 In aeeordanc8 with appllcab aaUnt1rj standards and the current 12a191 Ststeffient Of Recommended Practic•, Accounting and Reporting by Charities SORP IFRS 1021. The charty meets the definition efa publicbenefitentrty under FRS 102. Thorg ore no rnat•Nal uncrt8inti8S about the charty'¥ abilily to ntInUe as o going conc£rn. Thefinanual slat$m•nts have teen prepar8d uThJer Ihe historical $t cy)nvention. Th• financial staternents indude all tran$action& ass•ts and liabilibe& The fvncticnal currency of the charity is pournjs st£rfing. tt8ms in the accounts ar• rounded to the nea$t pound. 11 12 Ineorng l inwme 1$ in¢lwJBd in the Statement of FancIal Activrt18s when re1Vable_ 13 Exppnditure Expenditure InLad in ststement of Financial ActEwties on 8n amals basis, wth fftcoverable Value Added Tax induded with th• itèm of e>penditure to whith it relate5. Governan costs compri$8 tha st$ of running the charity, induding ind8p•ndontexamination and awguntancyfèBs and any bgal advice lor the truste. Support eosts ats all inwrred in the underlakiny of th8 charilable activ.•$ ef the charity. Accumulated fundg Unrestricted fund5 aro fvnds which can b• u¥8d in acD)rdan wih the chart88 objects at the dts¢rets"on of the charity. 15 Cash at bank and In hand Cash at bank and in hand Includ cash and IRUKI 5hort-tern invgstments. The trustèès s•¢k 1¢ use shtjl and mediwn term depjsrts whére possible to maximi5B the rern mor4es held at th• bank and to manag& cssh flow_ 14 16 Crndltors and provislon8 Creditors and provisions are r?o)gnised where the charity ha5 a present r*Jligation resulting from a past event that Mll probably resutt in the transfèr of fund8 to a thlrd party and the amount due to setlle th• oblvJation (•n be measured or estirnat reliabty. Critical accountlng estlmat•s and judggmenls In the applic2tEDn of the tharity'5 accounting polic, tha trustees ar8 requlred to make iudg•mèntS, est"matos and assumpbons aboutthe ca1n9 amount of a88et¥ and118bilitEs that are not r88dity apparent trom other source& The estimat8s and assoc4ated assumption5 are basÈd on historical exp8rianc8 and othèr fadors Ihat are cOnS8d levant. Actual results may diff•r from thvde estimates. The È$timat¢s and underfwng 8ssumpOons arè reviewed C an ongoing ba$i$. Revision8 to aco)untins e5tirnates are recOgned in th• rItid in which th8 estimate is revi58d. The trustee5 do not consKler that th•r• ar8 any critiGqI estimaie5 or areas of JUdgent that need to b• brought to th¥ attention ol the re•J8rs ol the finanoal statern8nts.
Dcthsiyn Envalopp ID" 1642DeF2-51FB477WBgM£14CFD803359 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Income 2023 Donations 624723 Donations and l?gacles 624723 Intargjt re1vable 8.246 InvB8tmonts 8.246 Sundry income 2S Oth•r income 25 Total Incomo 632,994 expendllure Z023 ¢harltabfo activiti49 Grants Legal and profrs$ional cosis Support Costs Inote 51 Other costs 33.565 360 3,600 Charltabk aetiviti• 37.621 Totsl expenditure 37,621 Support ¢o$ts 2023 Gov8manca 8t$ 3,600 3.600 Governanc costs consist entirefy of ind8P8ndent examination and aCUnncY fees. Truste88 None of the trustees lor any persons connected with them) recaived any remunoration from the ¢horty durin9 Ihe period.
D¢Jgn En¥eloFe ID.. 164208F2-S1F779-B9A-Cl4CFDB03359 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 7 Ernploy••$ Thare wer8 no 8mploy888 during th8 P8md. Taxatlon Nudeus Foundation became a Te9iSt8rad charity Ino. 12008001 on 24 October 2022. AJI 8clivfaeE are undertaken to fu1 thè primsry objèctivas of tha L*arEty and ar8 tharèforo oxèmpt und•r Part 11 01 the Corpor81¥)n T8xAct 2010. Creilltors: amounts falllng du•wlthkn on• y•ar 2023 Ac£ruaL% 3,600 3,600 10 Related partytransactknns During tho riod, the tharty recgivgd a donation of £624.723 from m?rnbgrs ofthe manag•m•nt tèam of Nud•us Greup S•rvieès LIMI. a eempany of wh¢d) on• trus Is a dlrèctor.