| Page | |
|---|---|
| Reference and administrative detailsofthe Company, its Trustees and advisers | 1 |
| Trustees' report | 2-9 |
| Independent auditors' report on the financial statements | 10 - 12 |
| Statementoffinancial activities | 13 |
| Balance sheet | 14 - 15 |
| Statementofcash flows | 16 |
| Notes to the financial statements | 17 -31 |
| Trustees | A Dafoe |
|---|---|
| DAmodei | |
| R Donnelly | |
| G Hadfield | |
| E Horvitz | |
| Company registered | |
| number | 13485176 |
| Charity registered | |
| number | 1201294 |
| Registered office | Courtenay House |
| Pynes Hill | |
| Exeter | |
| EX2 5AZ | |
| Key management | L Hammond (Acting Executive Director) |
| personnel | A Bradbury (Chief Operating Officer) (resigned 16 June 2023) |
| Independent auditors | Griffin |
| Chartered Accountants | |
| Courtenay House | |
| Pynes Hill | |
| Exeter | |
| EX2 5AZ |
| Activity | Status(On31.1222) | Goal(s) |
|---|---|---|
| Createour grantmakingprocess | 2b | |
| Run a firstgrnntrnakil1ground | fn Progiress | 2b,1b |
| Hire aChief OpeJ:atiogOlificer | la | |
| Hire· a secondResearchAnal:•tst | la | |
| HireaPeopl'e&Oper.ationsManageJ | 1a | |
| Onboardan :in.it ialsetofadvisors | !n Pmgress | 1b |
| Res,umeourpubliconlinesemirna.rseirie·s | On,Hofdl | 1b,2a |
| Runa ooopernti.'•·eAI oonttest | ln Pmgiress | 1b,.2a |
| P.un aoooperati;1,•e.A.Iworl<shop | 0111,hlokll | 1b, 2a |
| Runa.retreatJsurrmmerschool | VnPmgiress | 1b.2a |
| Run awork.shop,on.A.Ifor iinstituti•OlflS | InPirogiress | 1b.2a |
| Run asym,pos:rumon1:ear111,ingit.loron,peirate |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | Total | ||
| Period ended | Period ended | funds | ||
| 31December | 31December | Yearended30 | ||
| 2022 | 2022 | June 2022 | ||
| Note | £ | £ | £ | |
| Income from: | ||||
| Donations and legacies | 4 | 2,423,939 | 2,423,939 | 413,991 |
| Charitable activities | 5 | 4,734 | ||
| Investments | 6 | 4 | 4 | |
| Total income | 2,423,943 | 2,423,943 | 418,725 | |
| Expenditure on: | ||||
| Charitable activities | 8 | 91,509 | 91,509 | 292,021 |
| Total expenditure | 91,509 | 91,509 | 292,021 | |
| Net movementinfunds | 2,332,434 | 2,332,434 | 126,704 | |
| Reconciliationoffunds: | ||||
| Total funds brought forward | 126,704 | 126,704 | ||
| Net movementinfunds | 2,332,434 | 2,332,434 | 126,704 | |
| Total funds carried forward | 2,459,138 | 2,459,138 | 126,704 |
| 31 | |||||
|---|---|---|---|---|---|
| December | 30June | ||||
| 2022 | 2022 | ||||
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 12 | 778 | |||
| 778 | |||||
| Current assets | |||||
| Debtors | 13 | 2,263,484 | 850 | ||
| Cash at bank andinhand | 201,436 | 128,175 | |||
| 2,464,920 | 129,025 | ||||
| Creditors: amounts falling_due_within one | |||||
| year | 14 | (6,560) | (2,321) | ||
| Net current assets | 2,458,360 | 126,704 | |||
| Total assets less current liabilities | 2,459,138 | 126,704 | |||
| Net assets excluding pension asset | 2,459,138 | 126,704 | |||
| Total net assets | 2,459,138 | 126,704 | |||
| Charity funds | |||||
| Restricted funds | |||||
| Unrestricted funds | 2,459,138 | 126,704 | |||
| Total funds | 2,459,138 | 126,704 |
| Period | ||
|---|---|---|
| ended31 | Year ended | |
| December | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net cash used in operating activities | 74,299 | 128,175 |
| Cash flows from investing activities | ||
| Purchaseoftangible fixed assets | (1,038) | |
| Net cash (used in)/providedbyinvesting activities | (1,038) | |
| Cash flows from financing activities | ||
| Net cash providedbyfinancing activities | ||
| Changeincash and cash equivalentsinthe period | 73,261 | 128,175 |
| Cash and cash equivalents at the beginningofthe period | 128,175 | |
| Cash and cash equivalents at the endofthe period | 201,436 | 128,175 |
| The notes on pages 17 to31form partofthese financial statements |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| Period | Period | |
| ended31 | ended31 | |
| December | December | |
| 2022 | 2022 | |
| £ | £ | |
| Grants | 2,423,939 | 2,423,939 |
| Unrestricted | Total | |
| funds | funds | |
| Year ended | Year ended | |
| 30June | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Grants | 413,991 | 413,991 |
| Unrestricted | Total |
|---|---|
| funds | funds |
| Year ended | Year ended |
| 30June | 30June |
| 2022 | 2022 |
| £ | £ |
| 4,734 | 4,734 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | Total |
| Period | Period | funds |
| ended31 | ended31 | Year ended |
| December | December | 30 June |
| 2022 | 2022 | 2022 |
| £ | £ | £ |
| 4 | 4 |
| Grants to | Total | |
|---|---|---|
| Institutions | funds | |
| Period | Period | |
| ended31 | ended31 | |
| December | December | |
| 2022 | 2022 | |
| £ | £ | |
| Grant disbursals | 12,750 | 12,750 |
| Grantsto | Total | |
| Institutions | funds | |
| Year ended | Year ended | |
| 30June | 30 June | |
| 2022 | 2022 | |
| £ | £ | |
| Grant disbursals | 241,779 | 241,779 |
| Activities | Grant | |||
|---|---|---|---|---|
| undertaken | fundingof | Support | Total | |
| directly | activities | costs | funds | |
| Period | Period | Period | Period | |
| ended31 | ended31 | ended31 | ended31 | |
| December | December | December | December | |
| 2022 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 50,659 | 12,750 | 28,100 | 91,509 |
| ActiVities | Grant | |||
|---|---|---|---|---|
| undertaken | funding of | Support | Total | |
| directly | actiVities | costs | funds | |
| Year ended | Year ended | Year ended | Year ended | |
| 30June | 30 June | 30June | 30June | |
| 2022 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | |
| Charitable activities | 46,776 | 241,779 | 3,466 | 292,021 |
| Total | ||
|---|---|---|
| Activities | funds | |
| Period | Period | |
| ended31 | ended31 | |
| December | December | |
| 2022 | 2022 | |
| £ | £ | |
| Staff costs | 41,197 | 41,197 |
| Events | 1,622 | 1,622 |
| Grantmaking | 1,320 | 1,320 |
| Consulting | 6,520 | 6,520 |
| 50,659 | 50,659 | |
| Total | ||
| Activities | funds | |
| Year ended | Year ended | |
| 30June | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Staff costs | 20,143 | 20,143 |
| Events | 26,010 | 26,010 |
| Grantmaking | 623 | 623 |
| 46,776 | 46,776 |
| Total | ||
|---|---|---|
| Activities | funds | |
| Period | Period | |
| ended31 | ended31 | |
| December | December | |
| 2022 | 2022 | |
| £ | £ | |
| Depreciation | 260 | 260 |
| Recruitment costs | 8,815 | 8,815 |
| Web design | 430 | 430 |
| Advertising and marketing | 2,534 | 2,534 |
| IT costs | 3,025 | 3,025 |
| Accountancy | 3,546 | 3,546 |
| Insurance | 360 | 360 |
| (Gain)/lossofforeign transactions | (2,161) | (2,161) |
| Travel and subsistence | 1,130 | 1,130 |
| Entertainment | 98 | 98 |
| Governance costs | 10,063 | 10,063 |
| 28,100 | 28,100 |
| Total | ||
|---|---|---|
| Activities | funds | |
| Year ended | Year ended | |
| 30June | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Recruitment costs | 673 | 673 |
| Web design | 9,060 | 9,060 |
| Advertising_and_marketing | 750 | 750 |
| ITcosts | 1,271 | 1,271 |
| Accountancy | 432 | 432 |
| Insurance | 373 | 373 |
| (Gain)/lossofforeign transactions | (11,614) | (11,614) |
| Governance costs | 2,521 | 2,521 |
| 3,466 | 3,466 |
| Period | ||
|---|---|---|
| ended31 | Year ended | |
| December | 30 June | |
| 2022 | 2022 | |
| £ | £ | |
| Wages and salaries | 39,952 | 19,688 |
| Contributiontodefined contribution pension schemes | 1,245 | 455 |
| 41,197 | 20,143 |
| Period | ||
|---|---|---|
| ended31 | Year ended | |
| December | 30June | |
| 2022 | 2022 | |
| No. | No. | |
| Average numberofemployees | 3 | 2 |
| Computer | |
|---|---|
| equipment | |
| £ | |
| Costorvaluation | |
| Additions | 1,038 |
| At31December 2022 | 1,038 |
| Depreciation | |
| Charge for the period | 260 |
| At31December 2022 | 260 |
| Net book value | |
| At31December 2022 | 778 |
| At30 June 2022 |
| 31 | ||
|---|---|---|
| December | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Due within one year | ||
| Other debtors | 51 | 583 |
| Prepayments and accrued income | 2,263,433 | 267 |
| 2,263,484 | 850 |
| 31 | ||
|---|---|---|
| December | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Trade creditors | 128 | |
| Pension fund loan payable | 1,032 | 161 |
| Accruals and deferred income | 5,400 | 2,160 |
| 6,560 | 2,321 |
| Summaryoffunds•current period | ||||
|---|---|---|---|---|
| Balance at | ||||
| 31 | ||||
| Balance at 1 | December | |||
| July 2022 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | 126,704 | 2,423,943 | (91,509) | 2,459,138 |
| Summaryoffunds- prior period |
| Balance at | ||
|---|---|---|
| 30June | ||
| Income | Expenditure | 2022 |
| £ | £ | £ |
| 418,725 | (292,021) | 126,704 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 31 | 31 | |
| December | December | |
| 2022 | 2022 | |
| £ | £ | |
| Tangible fixed assets | 778 | 778 |
| Current assets | 2,464,920 | 2,464,920 |
| Creditors_due_within one year | (6,560) | (6,560) |
| Total | 2,459,138 | 2,459,138 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 30 June | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Current assets | 129,025 | 129,025 |
| Creditors_due_within one year | (2,321) | (2,321) |
| 126,704 | 126,704 |
| 31 | ||
|---|---|---|
| December | 30June | |
| 2022 | 2022 | |
| £ | £ | |
| Net income for the period (as per StatementofFinancial Activities) | 2,332,434 | 126,704 |
| Adjustmentsfor: | ||
| Depreciation charges | 260 | |
| Increaseindebtors | (2,262,634) | (850) |
| Increaseincreditors | 4,239 | 2,321 |
| Net cashprovidedbyoperatingactivities | 74,299 | 128,175 |
| 31 | |||
|---|---|---|---|
| December | 30June | ||
| 2022 | 2022 | ||
| £ | £ | ||
| Cash | inhand | 201,436 | 128, 175 |
| Total | cash and cash equivalents | 201,436 | 128,175 |
| At31 | |||
|---|---|---|---|
| At1July | December | ||
| 2022 | Cashflows | 2022 | |
| £ | £ | ||
| £ | |||
| Cash at bank andinhand | 128,175 | 73,261 | 201,436 |
| 128,175 | 73,261 | 201,436 |