**REGISTERED CHARITY NUMBER: 1203690** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** ## **FOR** ## **FURNLEY HOUSE COMMUNITY FOUNDATION** Mark J Rees LLP Chartered Accountants Granville Hall Granville Road Leicester Leicestershire LE1 7RU **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** **Page Report of the Trustees** 1 to 2 **Statement of Financial Activities** 3 **Balance Sheet** 4 **Notes to the Financial Statements** 5 to 7 **Detailed Statement of Financial Activities** 8 **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** The trustees of the charity for the purposes of the Charities Act 2011, present their report with the financial statements of the charity for the period 22 June 2023 to 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **INCORPORATION** The charitable incorporation organisation was incorporated on 22 June 2023 and commenced trading on the same date. ## **OBJECTIVES AND ACTIVITIES** The objectives of the charity are to provide grants and donations for such charitable purposes, for the public benefit, that are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine. The charity only received its Charitable status in June 2023 and its main activity in this period was holding an event referred to as the Leicestershire Community Charity Awards to celebrate heroes who have made a significant impact in the Leicestershire community. There were a number of smaller events to help raise funds for the charity and in the following months a Summer Ball was held in order to raise significant funds to support the Charities recognised as champions in the Leicestershire Community Charity Awards 2023. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Thus, when considering applications for grant assistance the Trustees bear in mind the need to ensure the activity benefited falls within our principal activities and that each grant awarded is of public benefit. ## **ACHIEVEMENT AND PERFORMANCE Funds and grants** Prior to June 2023, when we achieved registered charity status, the Furnley House Community Foundation had raised over £200,000 for charity. This milestone of charitable status enables us to continue with our mission: to create opportunities and enhance the well-being of our local community by improving and saving lives. The 2023 Leicestershire Community Champions Awards kept shining a spotlight on amazing people, with Steps Conductive Education Centre being our latest Charity of the Year. At the Awards, held to recognise the work of local charities, Here's to more fun, more support for our local community, and more amazing adventures in the years ahead! ## **What we do and aims looking forward** The aim of the charity is simple, to help improve the lives of as many people as we can. Of course, that is a very broad aim. Specifically, we want to help those within our community. We hold two flagship events to help us do this, along with regular fundraising activities throughout the year, and are looking forward to carrying on with our aims during 2024 and beyond. ## **FINANCIAL REVIEW** ## **Financial position** The trustees consider the charity remains in a strong financial position and is able to continue to deliver its charitable objectives. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The Charity is controlled by its governing document, a deed of trust. Page 1 **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered Charity number** 1203690 ## **Principal Address** 340 Melton Road Thurmaston Leicester LE4 7SL ## **Trustees** Mr S Winfield Chair (appointed 22.6.2023) Ms K J Haines Trustee (appointed 22.6.2023) Mr P Hollinshead Trustee (appointed 22.6.2023) Ms C Lynch Trustee (appointed 22.6.2023) Mr S Fura Trustee (appointed 22.6.2023) ## **Company Secretary** Approved by order of the board of trustees on 31 January 2025 and signed on its behalf by: Mr S Winfield - Trustee Page 2 **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** |||Unrestricted| |---|---|---| |||fund| ||Notes|£| |**INCOME AND ENDOWMENTS**||| |Donations and legacies||**20,871**| |Investment income|2|**27**| |**Total**||**20,898**| |**EXPENDITURE**||| |Raising funds||**7,770**| |Charitable activities||**5,547**| |**Total**||**13,317**| |**NET INCOME**||**7,581**| |**TOTAL FUNDS CARRIED FORWARD**||**7,581 **| The notes form part of these financial statements Page 3 ## **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **BALANCE SHEET 31 MARCH 2024** |||Unrestricted| |---|---|---| |||fund| ||Notes|£| |**CURRENT ASSETS**||| |Debtors|5|**7,512**| |Cash at bank and in hand||**15,797 **| |||**23,309**| |**CREDITORS**||| |Amounts falling due within one year|6|**(15,728)**| |**NET CURRENT ASSETS**||**7,581 **| |**TOTAL ASSETS LESS CURRENT**||| |**LIABILITIES**||**7,581**| |**NET ASSETS**||**7,581 **| |**FUNDS**|7|| |Unrestricted funds||**7,581 **| |**TOTAL FUNDS**||**7,581 **| The financial statements were approved by the Board of Trustees and authorised for issue on 31 January 2025 and were signed on its behalf by: Mr S Winfield - Trustee Mr P Hollinshead - Trustee The notes form part of these financial statements continued... Page 4 **FURNLEY HOUSE COMMUNITY FOUNDATION** **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable incorporation organisation, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charitable incorporation organisation has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Voluntary income is received by way of donations and is included in full in the Statements of Financial Activities when receivable. Investment income is accounted for in the period in which the charity is entitled to receipt. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Going Concern** The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. ## **Debtors** Page 6 continued... **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** ## **1. ACCOUNTING POLICIES - continued** Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. ## **Fixed asset investments** Investments held as fixed assets are re-valued at mid-market value at the balance sheet date and the gain or loss is taken to the Statement of Financial Activities. ## **2. INVESTMENT INCOME** |Deposit account interest
**SUPPORT COSTS**
Other resources expended|**£**
**27**
Other
£
**547**| |---|---| ## **3. SUPPORT COSTS** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the period ended 31 March 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the period ended 31 March 2024. ## **5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Prepayments and accrued income|**£**
**5,611**
**1,901 **
**7,512**| |---|---| continued... Page 7 **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** ## **6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |||||**£**| |---|---|---|---|---| |Accruals and deferred income||||**15,728**| |**MOVEMENT IN FUNDS**||||| ||||Net|| |||movement||At| |||in funds||31.3.24| ||||£|£| |**Unrestricted funds**||||| |General fund|||**7,581**|**7,581**| |**TOTAL FUNDS**|||**7,581 **|**7,581 **| |Net movement in funds, included in the above are as follows:||||| ||Incoming|Resources||Movement| ||resources|expended||in funds| ||£||£|£| |**Unrestricted funds**||||| |General fund|**20,898**|**(13,317)**||**7,581**| |**TOTAL FUNDS**|**20,898**|**(13,317)**||**7,581 **| ## **7. MOVEMENT IN FUNDS** ## **8. RELATED PARTY DISCLOSURES** There were no disclosable related party transactions during the year. Page 8 **FURNLEY HOUSE COMMUNITY FOUNDATION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 22 JUNE 2023 TO 31 MARCH 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Cost of the LCC awards
**Charitable activities**
Donations awarded at awards
Support costs
Other:
Professional fees
Bank fees
Insurance
Total resources expended
**Net income**|£
**20,871**
**27**
**20,898**
**7,770**
**5,000**
**300**
**148**
**99**
**5,547**
**13,317**
**7,581 **| |---|---| This page does not form part of the statutory financial statements Page 9