## **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 D￿U￿9n EnvBIDpe10.. 1642D8F2-S1F￿T19-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 Sho￿haM Road Upper Beeding steyning West Sus8ex BN44 3TN Bank•]> Santander UK plc 2 Triton Square R8g8nts Pkc8 London NW1 3AN acu￿￿n 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)>j￿gn 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 Sta￿l8rd applIcat￿e in the UKand Rèpubli¢ol Ir¢l8nd IFRS 1021 leffective 1 January 20191. Struc￿1?1 governance arwj managernnt The tharitywas established by a chorilable try￿t 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￿ pr￿cIpal trustee in consurtation wth the ott)ertru$te&s. • trust•os mast at kast annualty and re￿8W Invesbnent polcy and denations. Thorè #r• no ernployee8 of the tharity, Obloctlves. acttvi¢•¥ at)d fu￿r• plans The Nudeus FoundaDon L% a grant-making tharity wh08e objects a￿ to rel￿ve 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 ￿su￿8 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 gO￿j health. publ￿ 8enefft The trusiees have paid due ward to the Charity Commi￿On Guidan￿ on 'Publi¢ ￿ener￿ in de(#dirKJ what activities the chaTity urKl8rtak£s. AJI activit￿8 undertaken a￿ I0￿8ed on our charitabl• purpes•s. Lk¢usgn Envdop810.. 1842O8F2-S1F&477￿BO￿-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 Unrest￿led Iree roserves totslbd £595,373 atlh? ba￿Tr￿ 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 ?￿O￿n￿ for è8th financ￿1 year whlch give a Inja and fair W￿w 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 a￿Urtts, the trustees are requlred to. sèlect suitable accounting polKAes and then aFply t1￿M eonslst8ntly', obs•rve the method$ and princip￿5 in the ChaTitie5 SORP", make judsw)ents antt e6b"mates that are rg8¥onablè *)d prudgnL' and pr8p?re aecounls on the goi￿ cor￿rn 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 a￿uracY at anytimethefinancial position ofthe tharity and enable them to ensure thatthe a￿Unts ￿MplYwIth the Chariks Act 2011. They ar? also responsible for Safeguarding the assets of the tharity and h8nte ler laking r￿SOnabl8 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.. DroJ*gn 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 t￿Stee6 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¢￿U￿ts car￿d 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 u￿dEr section 14515llbl of the Act. Inde￿ndent exa￿￿￿*￿$ statèment Since thecharity's gross ineome e￿eded £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 conngc*on 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 a￿￿￿nIS do notaccord wllh those reC￿rds.. or 3. the accaunts do not (tmpty with thg appE￿able 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 ThattercOnS￿ered as part of an Indepèrtd8nt èxarnination. I have noconr*rns 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 ar￿unts 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 incom￿mOV9rn0n1 in funda 695,373 Fund balances at 24 Octobor 2022 Fund balance8 at 31 December 2023 595,373 None ofthe charitls activiks were a￿Uired 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 $95,373 22 october 2024 The OC￿U￿t5 were approved bythe Trustees on......................... "'YrnIX14EA7WIAD.:'" RA Ro￿TreY Trusts0 Charfty No. 1200800 Dr*JJrApn Envèlop? ID.. l642D8F2￿1F￿Tl9-BgAA-Gl4cFDBo335g NUCLEUS FOUNDATION STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2023 2023 Nots8 Cash ￿0w3 from opgratlrfj a¢tivftieJ: Ngt in¢omellexpenditure) forthe period Adju9th￿Nts for: Inu8a88 in creditors 594373 3,610 Net cash prDvided byllu$¢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$h ￿u]Valents at the beginning of tho poriod Cash ￿¥h 94uivalenls attho end otth8 ￿rIOd 698,973 Cash #nd cash ¢qu￿arentS above a￿ represented by". Cash at bank and In hand 598,973 598.973 wgn Env** ID.. 1642D8F2.51F￿77￿B9A￿cI4CFDBo3￿9 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Legal status ofthe charttable company Th9 tharty ￿ a tharitab￿ InL*rporaled or9anisatw)n Wister￿ in England and Wal&s. Th• dHrity nurnbar can be found on ￿ legal and Idministration pa98. ¢ountlng poli¢io1 Ba818 of p￿paratIOn The financial slatèmants have been prepared under the Charitie8 A(* 2011 In aeeordanc8 with appllcab a￿aUnt1r￿j standards and the current 12a191 Ststeffient Of Recommended Practic•, Accounting and Reporting by Charities SORP IFRS 1021. The charty meets the definition efa publicbenefitentrty under FRS 102. Thorg ore no rnat•Nal unc*rt8inti8S about the charty'¥ abilily to ￿ntInUe as o going conc£rn. Thefinanual slat$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 F￿ancIal Activrt18s when re￿1Vable_ 13 Exppnditure Expenditure ￿ In￿L￿ad 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 chart8￿8 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 re￿rn 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 ca￿1n9 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 cOnS￿8￿d ￿levant. Actual results may diff•r from thvde estimates. The È$timat¢s and underfwng 8ssumpOons arè reviewed C￿ an ongoing ba$i$. Revision8 to aco)untins e5tirnates are recOgn￿ed in th• ￿rItid in which th8 estimate is revi58d. The trustee5 do not consKler that th•r• ar8 any critiGqI estimaie5 or areas of JUdg￿ent that need to b• brought to th¥ attention ol the re•J8rs ol the finanoal statern8nts. Dcthsiyn Envalopp ID" 1642DeF2-51FB477WBgM£14CFD803359 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Income 2023 Donations 624723 Donations and l?gacles 624723 Intargjt re￿1vable 8.246 InvB8tmonts 8.246 Sundry income 2S Oth•r income 25 Total Incomo 632,994 expendllure Z023 ¢harltabfo activiti49 Grants Legal and profrs$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 aC￿Un￿ncY fees. Truste88 None of the trustees lor any persons connected with them) recaived any remunoration from the ¢horty durin9 Ihe period. D¢￿J￿gn En¥eloFe ID.. 164208F2-S1F￿779-B9￿A-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 fu￿1 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 D￿U￿9n EnvBIDpe10.. 1642D8F2-S1F￿T19-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 Sho￿haM Road Upper Beeding steyning West Sus8ex BN44 3TN Bank•]> Santander UK plc 2 Triton Square R8g8nts Pkc8 London NW1 3AN acu￿￿n 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)>j￿gn 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 Sta￿l8rd applIcat￿e in the UKand Rèpubli¢ol Ir¢l8nd IFRS 1021 leffective 1 January 20191. Struc￿1?1 governance arwj managernnt The tharitywas established by a chorilable try￿t 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￿ pr￿cIpal trustee in consurtation wth the ott)ertru$te&s. • trust•os mast at kast annualty and re￿8W Invesbnent polcy and denations. Thorè #r• no ernployee8 of the tharity, Obloctlves. acttvi¢•¥ at)d fu￿r• plans The Nudeus FoundaDon L% a grant-making tharity wh08e objects a￿ to rel￿ve 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 ￿su￿8 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 gO￿j health. publ￿ 8enefft The trusiees have paid due ward to the Charity Commi￿On Guidan￿ on 'Publi¢ ￿ener￿ in de(#dirKJ what activities the chaTity urKl8rtak£s. AJI activit￿8 undertaken a￿ I0￿8ed on our charitabl• purpes•s. Lk¢usgn Envdop810.. 1842O8F2-S1F&477￿BO￿-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 Unrest￿led Iree roserves totslbd £595,373 atlh? ba￿Tr￿ 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 ?￿O￿n￿ for è8th financ￿1 year whlch give a Inja and fair W￿w 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 a￿Urtts, the trustees are requlred to. sèlect suitable accounting polKAes and then aFply t1￿M eonslst8ntly', obs•rve the method$ and princip￿5 in the ChaTitie5 SORP", make judsw)ents antt e6b"mates that are rg8¥onablè *)d prudgnL' and pr8p?re aecounls on the goi￿ cor￿rn 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 a￿uracY at anytimethefinancial position ofthe tharity and enable them to ensure thatthe a￿Unts ￿MplYwIth the Chariks Act 2011. They ar? also responsible for Safeguarding the assets of the tharity and h8nte ler laking r￿SOnabl8 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.. DroJ*gn 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 t￿Stee6 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¢￿U￿ts car￿d 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 u￿dEr section 14515llbl of the Act. Inde￿ndent exa￿￿￿*￿$ statèment Since thecharity's gross ineome e￿eded £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 conngc*on 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 a￿￿￿nIS do notaccord wllh those reC￿rds.. or 3. the accaunts do not (tmpty with thg appE￿able 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 ThattercOnS￿ered as part of an Indepèrtd8nt èxarnination. I have noconr*rns 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 ar￿unts 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 incom￿mOV9rn0n1 in funda 695,373 Fund balances at 24 Octobor 2022 Fund balance8 at 31 December 2023 595,373 None ofthe charitls activiks were a￿Uired 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 $95,373 22 october 2024 The OC￿U￿t5 were approved bythe Trustees on......................... "'YrnIX14EA7WIAD.:'" RA Ro￿TreY Trusts0 Charfty No. 1200800 Dr*JJrApn Envèlop? ID.. l642D8F2￿1F￿Tl9-BgAA-Gl4cFDBo335g NUCLEUS FOUNDATION STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2023 2023 Nots8 Cash ￿0w3 from opgratlrfj a¢tivftieJ: Ngt in¢omellexpenditure) forthe period Adju9th￿Nts for: Inu8a88 in creditors 594373 3,610 Net cash prDvided byllu$¢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$h ￿u]Valents at the beginning of tho poriod Cash ￿¥h 94uivalenls attho end otth8 ￿rIOd 698,973 Cash #nd cash ¢qu￿arentS above a￿ represented by". Cash at bank and In hand 598,973 598.973 wgn Env** ID.. 1642D8F2.51F￿77￿B9A￿cI4CFDBo3￿9 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Legal status ofthe charttable company Th9 tharty ￿ a tharitab￿ InL*rporaled or9anisatw)n Wister￿ in England and Wal&s. Th• dHrity nurnbar can be found on ￿ legal and Idministration pa98. ¢ountlng poli¢io1 Ba818 of p￿paratIOn The financial slatèmants have been prepared under the Charitie8 A(* 2011 In aeeordanc8 with appllcab a￿aUnt1r￿j standards and the current 12a191 Ststeffient Of Recommended Practic•, Accounting and Reporting by Charities SORP IFRS 1021. The charty meets the definition efa publicbenefitentrty under FRS 102. Thorg ore no rnat•Nal unc*rt8inti8S about the charty'¥ abilily to ￿ntInUe as o going conc£rn. Thefinanual slat$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 F￿ancIal Activrt18s when re￿1Vable_ 13 Exppnditure Expenditure ￿ In￿L￿ad 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 chart8￿8 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 re￿rn 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 ca￿1n9 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 cOnS￿8￿d ￿levant. Actual results may diff•r from thvde estimates. The È$timat¢s and underfwng 8ssumpOons arè reviewed C￿ an ongoing ba$i$. Revision8 to aco)untins e5tirnates are recOgn￿ed in th• ￿rItid in which th8 estimate is revi58d. The trustee5 do not consKler that th•r• ar8 any critiGqI estimaie5 or areas of JUdg￿ent that need to b• brought to th¥ attention ol the re•J8rs ol the finanoal statern8nts. Dcthsiyn Envalopp ID" 1642DeF2-51FB477WBgM£14CFD803359 NUCLEUS FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Income 2023 Donations 624723 Donations and l?gacles 624723 Intargjt re￿1vable 8.246 InvB8tmonts 8.246 Sundry income 2S Oth•r income 25 Total Incomo 632,994 expendllure Z023 ¢harltabfo activiti49 Grants Legal and profrs$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 aC￿Un￿ncY fees. Truste88 None of the trustees lor any persons connected with them) recaived any remunoration from the ¢horty durin9 Ihe period. D¢￿J￿gn En¥eloFe ID.. 164208F2-S1F￿779-B9￿A-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 fu￿1 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.