2024-03-31-accounts

TRUSTEES'REPORT	1-5
STATEMENTOFTRUSTEES'RESPONSIBILITIES	6
INDEPENDENTAUDITOR'SREPORT	7-9
STATEMENTOFFINANCIALACTIVITIES	10
BALANCESHEET	11
STATEMENTOFCASHFLOWS	12
NOTESTOTHEFINANCIALSTATEMENTS	13-20

REGISTEREDOFFICE	41EastgateStreet
	Stafford
	Staffordshire
	UnitedKingdom
	ST162LY
TRUSTEES	PCoates
	EFBarnes
	JEWhite
AUDITOR	RSMUKAuditLLP
	CharteredAccountants
	FestivalWay
	FestivalPark
	Stoke-on-Trent
	ST15BB
BANKERS	HSBCUKBankPlc
	28BoroughHighStreet
	Southwark
	London
	SE1lYB
REGISTEREDCOMPANYNUMBER	13738665
REGISTEREDCHARITYNUMBER	1202729

30/01/2025

	Note			Unrestricted
		Unrestricted		funds	Total
		funds	Total	3-month	3-month
		Yearended	Yearended	periodended	periodended
		March2024	March2024	March2023	March2023
		£	£	£	£
INCOME
Donations	3	4,243,750	4,243,750
TOTAL INCOME		4,243,750	4,243,750
EXPENDITURE
Charitableactivities	4	(794,367)	(794,367)	(403,015)	(403,015)
TOTALEXPENDITURE		(794,367)	(794,367)	(403,015)	(403,015)
NETINCOME/(EXPENDITURE)AND
NETMOVEMENTINFUNDSFORTHE
YEAR		3,449,383	3,449,383	(403,015)	(403,015)
RECONCILIATIONOFFUNDS
TOTALFUNDSBROUGHTFORWARD		(832,459)	(832,459)	(429,444)	(429,444)
TOTALFUNDSCARRIEDFORWARD	10	2,616,924	2,616,924	(832,459)	(832,459)

	Note	2024	2023
CURRENTASSETS
Debtors	8	3,269,836
Cashatbankandinhand		276,244	76,773
		3,546,080	76,773
CURRENTLIABILITIES
Creditors:Amountsfallingduewithinoneyear	9	(929,156)	(909,232)
NETCURRENTASSETS/(LIABILITIES)		2,616,924	(832,459)
NETASSETS		2,616,924	(832,459)
FUNDS
Unrestrictedfunds	10	2,616,924	(832,459)
		2,616,924	(832,459)

	Notes		3-month
		Yearended	periodended
		2024	2023
OPERATINGACTIVITIES
Cashgeneratedfromoperations	15	199,471	(80,689)
FINANCINGACTIVITES
Cashreceivedfromloans			125,000
INCREASEINCASHANDCASH
EQUIVALENTSINTHEYEAR/PERIOD		199,471	44,311
CASHANDCASHEQUIVALENTSATTHE		76,773	32,462
STARTOFTHEYEAR/PERIOD
CASHANDCASHEQUIVALENTSATTHE
ENDOFTHEYEAR/PERIOD		276,244	76,773

			Unrestricted
	Unrestricted		funds	Total
	funds	Total	3-month	3-month
	Yearended	Yearended	periodended	periodended
	2024	2024	2023	2023
	£	£	£	£
Donationsfromloanconversions	475,000	475,000
Donations	3,525,000	3,525,000
Giftaid	243,750	243,750
	4,243,750	4,243,750

TOTALEXPENDITURE
			Unrestricted
	Unrestricted		funds	Total
	funds	Total	3-month	3-month
	YearendedYearended		periodended	periodended
	2024	2024	2023	2023
		£	£	£
Directcosts(note5)	590,483	590,483	335,500	335,500
Supportcosts	94,204	94,204	59,214	59,214
Governancecosts(note6)	109,680	109,680	8,301	8,301
	794,367	794,367	403,015	403,015
Supportcostscomprise:
			2024	2023
Managementfees			92,232	58,364
Insurance			1,086
Computerrunningcosts			538	834
Sundry			279
Bankcharges			69	16
			94,204	59,214
				Unrestricted
		Unrestricted		Funds
			Funds	3-month
		Yearended		periodended
			2024	2023
FeespayabletoRSMUKAuditLLPandRSMUKTaxand
AccountingLimited:
FeesforStatutoryAuditofaccounts			24,000
Feesfornon-auditservices			6,167	6,204
			30,167	6,204

		Unrestricted
	Unrestricted	funds
	funds	3-month
	Yearended	periodended
	2024	2023
Grantstoinstitutions	440,000	335,500
Managementofbursaryprogram	150,483
	590,483	335,500

Duringtheperioddonationshavebeenmadecoveringthefollowingkeyareasof	Duringtheperioddonationshavebeenmadecoveringthefollowingkeyareasof	activity:
Education	440,000	335,500
Grantsmadeduringtheperiodbetweeninstitutionsareasfollows:
StaffordshireUniversity(Numberofgrants—1(2023:1))	440,000	335,500

GOVERNANCECOSTS
		3-month
	Yearended	periodended
	2024	2023
Accountancyfees	6,167	6,204
Auditfees	24,000
Legalandprofessionalfees	79,513	2,097
	109,680	8,301

DEBTORS
	2024	2023
	£	£
Prepayments	1,086
Donationsreceivable	3,025,000
Otherdebtors	243,750
	3,269,836

	2024	2023
	£	£
Tradecreditors	55,588	81,778
Accruals	92,868	11,754
Grantaccruals	775,500	335,500
Loansfromrelatedparties	-	475,000
Othercreditors	5,200	5,200
	929,156	909,232

	Balanceat			Balanceat
	startof	Incoming	Resources	endof
	year/period	resources	expended	year/period
Yearended31March2024		£	£	£
Unrestrictedfunds	(832,459)	4,243,750	(794,367)	2,616,924
	(832,459)	4,243,750	(794,367)	2,616,924
3-monthperiodended31March2023
Unrestrictedfunds	(429,444)	-	(403,015)	(832,459)
	(429,444)	-	(403,015)	(832,459)

ANALYSISOFNETASSETSBETWEE	NFUNDS
	Unrestricted	Unrestricted
	funds	funds
	2024	2023
Currentassets	3,546,080	76,773
Currentliabilities	(929,156)	(909,232)
	2,616,924	(832,459)

	2024	2023
NETINCOME/(EXPENDITURE)FORTHEREPORTING
YEAR/PERIOD	3,449,383	(403,015)
Increaseindebtors	(3,269,836)
Increaseincreditors	19,924	447,326
NETCASHGENERATEDBYOPERATIONS	199,471	44,311

	Asat31March			Asat31March
	2023	Cashflow	Non-cashflow	2024
	£	£	£	£
Cashatbankandinhand	76,773	199,471		276,244
Loans	(475,000)		475,000