Friends of Upward Bound UK - Charity No: 1202264
Annual Report April 2024 to April 2025
Trustees:
Maxine Bunting-Thomas
Sophie Cloutterbuck
Abrar Fadol (appointed Jan ‘25)
Amanda Francis
Celia Greenwood – Chair
Segun Lee-French (resigned July ‘24)
Rui Octavia (resigned in April ’24)
Alison Vydulinska
Board Structure and Management
The Board had 7 trustees at the start of the year: recruited an additional trustee and two existing trustees resigned during the year. In April 2024 Rui Octavio resigned from the Board due to external commitments which made it too difficult for him to commit the time needed to remain on the Board. In July 2024 Segun Lee-French resigned due to conflicts of interest. As an employee of LB Islington, during a period when the borough was reconsidering its position re the Upward Bound programme, Segun found his loyalties divided and therefore stepped down. Following a skills audit the Board agreed they needed two new Trustees one with finance expertise and one with marketing and promotion expertise. We were also keen to recruit younger members given the demographic of the current Board. In December we recruited and interviewed Abrar Fadol, a communications graduate, and she joined the Board in January ‘25. We still need a trustee with finance expertise and qualification and are continuing our search.
The Charity is managed through bi-monthly scheduled Board meetings with ad hoc meetings called as and when required.
Activities and objectives for the year.
We finally launched our website - www.friendsofupwardbound.org.uk in September, making a final small payment to the designer. Most of the work was done as a donation to the charity. The designer will run a training programme for two trustees so that we can update and refresh the site ourselves. We also agreed and published a promotional leaflet which can be used to raise our profile and promote the trust.
One key objective for the year was to create a fundraising strategy to develop new funding streams as the Dame Alice Owen Foundation (DAOF) began their plan to reduce
their funding for Upward Bound over a five year period. It became clear that many sources of funding would be unavailable to the charity because we had too little in the bank. To help us to begin to prepare funding bids DAOF agreed a grant of £25,000 which could be spent to support the Islington project short fall, but also to develop the capability of the charity and to explore new projects. Following a successful application the Board agreed to fund the Upward Bound Residential programme with an award of £17,000.
We agreed that our first significant funding bid would be to the Portal Trust as our relationship with London Metropolitan and City St Georges Universities enabled us to meet the criteria of the trust and if successful would enable us to extend the programme into other Boroughs. We employed a bid writer who worked closely with Trustees to produce an application which proposed to deliver three pilot projects using the Islington programme as a template. This was submitted in January and we wait to hear.
The second key objective was to clarify the relationship between the Trust, the university partners DAOF and LB Islington and how this could be managed most effectively. The remit and membership of Upward Bound Strategic Governance Board was reviewed to include representation from the Friends and therefore more effective communication and collaboration. Islington are no longer able to fund the project except with DAOF money which is diminishing each year.
The third objective was to raise some unrestricted funding so that we could begin to build the organisation and possibly employ a member of staff as the workload increased. DAOF is administered by the Brewers Company. Working with the chair of DAOF we were introduced to two trusts who are members of the brewers company and made applications. The Youngs Foundation have agreed an award of £25,000 and we are waiting to hear from the Catherine and Franklin Johnson Foundation. We are extremely grateful to the Chair of DAOF who continues to introduce us to potential funders and is determined that Upward Bound should continue to thrive once he is no longer a funder.
Achievements and performance
The Board feels satisfied that the work of this year puts us in a good place to begin to raise the necessary funding to fulfil our charity objectives and initiate new projects for young people who most need them. The Board is also concerned to ensure its own performance conforms to the required standard for charity trustees. We have discussed this at Board level, with plans to check our individual and whole Board understanding of appropriate financial and governance requirements through use of checklists and questionnaires and regular assessment of Board skills and expertise.
Friends of Upward Bound UK Registered Charity 1202264 INCOME AND EXPENDITURE ACCOUNT
| INCOME Principle Activities Grant from Dame Alice Owen Foundation Grant from London Borough of Islington Interest Total Income EXPENDITURE Charitable Activities Grant to Islington Upward Bound Web hosting Photos Purchase of Phone Web design Bid writer Website subscription Bank Charges Total Expenditure Surplus/Deficit for the year Funds Brought Forward 1st April 2024 Correction sum Funds carried forward 31st March 2025 |
YEAR ENDED YEAR ENDED 31st March 31st March 2025 2024 25,000.00 - 1,000.00 25.60 0.19 25,025.60 1,000.19 17,000.00 - 244.80 250.00 300.00 - 24.99 540.00 800.00 244.80 55.00 35.00 18,889.80 604.79 6,135.80 395.40 390.21 - (5.19) 6,526.01 390.21 |
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RAVENSDALE ASSOCIATES
Accountants
60A Mannock Road London N22 6AA T: 020 8881 4568 M: 07957692552 E: eliaskarts@gmail.com
Our Ref: ECK/FUBU/F4 Your Ref:
29 January 2026
Mrs Celia Greenwood Chair, Friends of Upward Bound UK London Metropolitan University 166-220 Holloway Road London, N7 8DB
RE: To The Trustees Friends of Upward Bound UK
Dear Trustees
I have viewed the accounting records and confirm that they are operated on a cash accounting basis.
The Income recognition is recorded only when funds are deposited to the bank and the Expenses are recognised and recorded when funds are made for payment and withdrawn from the bank.
I have checked the bank statements and movement against income and expenditure to the year ending 31 March 2025 and agree all the transactions taken place in the year against actual purchase invoices provided.
I have completed an analysis of income and receipts for the year ending 31 March 2025 and prepared the Income and Expenditure account and confirm I am in agreement of the figures and closing bank balance of £6526.01.
I had a difference on the opening bank balance at 1 April 2024, the opening balance stated on last year’s Income & Expenditure Account showed a closing balance of £395.40 but should have represented a sum of £390.21, therefore I implemented the correcting sum of (£5.19) to agree the opening bank balance as at 1 April 2024, last year Income & Expenditure Account were prepared by others.
I agree the Income and Expenditure Account as at 31 March 2025 and the format of the accounting records kept same in.
Yours
Elias Kartsoulides
OFFICES ALSO AT: 286B Southgate Office Village, Chase Road, London, N14 6HF