Charlty r•grstration numbor 1204841 IEnL4and and Wal•81 OBEX FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024
OBEX FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trust••# Dr S Bhandal (Appointed 21 Septembor 20231 (Appointed 21 Septembèr 2023) (Appolntgd 21 September 2023} F Hall C Heathcotè S•nlor m*nag•m9nt Dr Sarablll Bhandal Chair Charlty number (England and bVal•s) 1204841 Registsr•d office Obex Foundation 10&111 High Street Houghlon Regis Bedfordshlrg LU5 SBJ A¢¢ountsnts Rogers Spencer N8wslead House Pelham Rd Nottingham NG5 1AP Bank•rg Natwgst Bank 36, St Andrew Square Edinburgh EH2 2YB
OBEX FOUNDATION CONTENTS P•ge Trustees, report A¢¢ountants' report Stslemenl of fmana8J 8ctlv¢ti@s Stat8m8nt of financial position Notes to the fmandal statements
OBEX FOUNDATION TRUSTEES, REPORT FOR THE PERIOD ENDED 31 AUGUST 2024 The Trustees present thelr annual report and financ481 statements lor Ihe pariod èndad 31 August 2024. The finan81 statements have been prepared in a¢eordance with the accounting policies sel out in rKsle 1 lo the financial slalem&nl$ and comply with the charty's governing documenl, the Charibes Act 2011, FRS 102 Yhe Fin8ncial Reportlng Stsndard applicabb in the UK and Republic of Ireland" and the Charities SORP "Accounting and R8porbng by Charities.. Statement of Recommended Practice applicable to charrties preparing therr accounts in accordance with the Financial Reporling SlarHlard applicable In thg LIK and Republic tsf Ireland (FRS 102}" Obloctlv•$ and a¢tSvlilos The Obex Foundation aims to create communities free of inequ8llly for young people across Hertlordshiro and Bedfordshire. W8 work collaboralwely with schools. famllles, )MmnrtIeS, businesses and other charities lo idenlify the needs of di$8dvanl8ged young people. We deliver a range of actiwlies and educati on preventative self-care and the importan¢& of being proaclsve around fftness, movemènt. nutrition and oral h9atth. Through our worft we aim to level the outcomes and improw tha livès of di$8dvanlaged young p8oplo in our largal area. Thè Found8tion largets young people throughout the schooling p8ri0d of their Iwes. AS id8ntified Sn the Marmot Rewew. 2010, enabllng all children 8nd young people to maximise their ¢apabililKS and have control over their lives through educalKJn is one ol the key principl85 to reduce health inequalrtK?5. Our prlnclpal nlhod of impacl, therefore. is lo fund and work with experienced and expert dellvery partners in schocl s8tting$. A unique aspe¢t of the Obex Foundalion 1$ our locality to delivory which anables us lo actively engage with our delivory partners in our area. We 8re pleased lo have attracted many Ioc81 volunteers willing io support us, gding as liaison between schools. dellvery partners and Ihe Obex Foundatlon. In the reporting perd our actiwlies were focused largely on the setup of thè Foundth'on wilh particAAar attenb'c paid to govamancfj, delivgry partne[5. schools, marketing and initi81 fundrafslng acltvitie8. The trustees confirm that they have referred to Ihe guKlance contalned in the chanty commission's gèneral guidance on public benefft when reviewing Ihe Foundation's aims arHI objectrves, planning lulure aciivitles and setting the gr8nl making polty for the year. The trustees have identified and implèmènted policy documents approprlale lo the objectives and actNitie$ of the Foundation.
OBEX FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2024 A¢hlèvements and p•rtomwn¢e AS a new grant giving charity, it is earty lo report on the speufic impacts of the programmes we sUPPQrt. 110 interim re¥wS of the rrent programmes, as witnessed by the Iruslees in the educational settings, has confirTned their impact and valuè, p8rfoman¢e against impad crlleria will be detailed in the second Annual Report when thè Programmes in the ac8demi¢ year 24125 are complet8d. In the first reporting period, and soon as a major athievement, the Foundabon has 6Ut£es5fully Identified and caffied out the due dlllgence required lo 8ppoinl three delivery partners.. Jason Robin50n Foundation, Dame Kelly Holm&s TnJ$l ond Dalaglio Rugby Works, speciali5ing respectively in primary, secondary and pupil referral settings. As p8rt of our grant rnaking policy, regular rewew me8lings, at ast fv40 per year, will lake place wlth eath delivery partner. The meetings will focus on Impact and value with input from 811 stakeholders. Fundraising activities, undewritten by Obex Dental Limitèd, énabled the Foundation to a¢hieve significant progrèss committing to the followlng programmes for the 0¢8demic year 24r25'. Jason Robinson Foundallon (Multi-sport Schools Programme) Dame Kelly Holrnes Trust {On Trad( ToAchievel Dallaglio Rugby Works {D8llaglio Rugbyworks programm?) 5 Primary Schools (12(k150 pupils per School) 5 Setondary School120 ptspils per 6chooll 11 Pupil Referral Unit8 {&12 pupils par sthcd) As Irustees we are pleased to report that for the acaflemic year 25126 we will outyerfom expectations and as a result. the number of sthools will increase to.. Jason Robinson Foundation (muttSport Schools Programme) Dame Kelty Holmes Trust (On Track To Achieve) Dallaglio Rugby Works (Dallaglio Rugbyworks progr8mmel 10 Primary Schools {12(k150 puplls per schoo 9 Secondary School120 pupils per school) 11 Pupll Referral Unlts1&12 pupils per s¢hool} Tha Trustees ar• pk¥sed with Ihe progress in the flr81 reporting perk)d And ere exdt8d that solid foundations have been established lo a¢hieve the future objéctives of the OBEX Foundation. Flnoncial r•vi•w Thè eharily received an income of £30,344 during the year, £15.344 of Ihls h88 been deferred 98 A related to an everrt after the year end. The charity has UnreStrted fund$ of£14,335 whth 1$ Suffldent to meet Its future requirement8. Structur4. goveman¢• and manag•m•nl Nature of govemlng do¢umgn¢ The tharity is operated under the rules of its goveming document a# a charit&ble incorwjraled organisallon dated 21 September 2023. The Trustees served during the period and up to the date of signature of Ihe financial statements were.. Dr S Bhandal (Appoinled 21 Septernber 2Ct231 F Hall IAppoint8(121 SeptÈrnber 2023} C Healhcote IAppoinled 21 Septèmber 2023)
OBEX FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 AUGUST 2024 ROcnlMetsd appolnlmgnt of tnJst$es The Obex FndatiOn earrys OLrt a S11$ audit of current trustees whKh tdentffjS knowlodgé gaps wlthin the board and then 8cUvoly lakes 81eps lo re¢ruft trustegs acCordinY. In order to beo)me familiar wilh thé practical work of the ¢h8rMy. naw trustees 11 receNe a copy of the annual report. the governing document 8nd the latest financial rèports, together brflh being 888igned a mentor from the existing Irustee board. They wlll also meet Wtth the chairperson and exisling trustees. Indu¢tion and frnining of tntst•ès The trustees ai8 Inviled to attend induction trainin9 which covers the fcAltswin9 aw8s'. a. Govemance. b. The cons1itLrtion. ¢. TTaining and support. d. Roles and rèsponsibilitse$. Communication. The charity's poliues best practice guides. g. The Obex Foundation's business plan. h. Th& risk regist8r. All trustees are then s#Jnposted to any other relevant training throughout the year. The Tru$lees' report was approved by the Board of Trustees. Dr S BhAndal Cholr of Tntsts8s Dale.. 30th June 2025
OBEX FOUNDATION CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OBEX FOUNDATION FOR THE PERIOD ENDED 31 AUGUST 2024 In order lo assisl you to fulfil your duties under the Charitie8 Act 2011, we have prepared for your approval the financval statements of Obex Foundallon for the period ended 31 August 2024, whi¢h comprise the statamenl of nancAal a¢lOvits and the related notes from Ihe ¢haritls accounting record$ 8nd fri>m information and explanabons you hava given us. As 8 practising member firm of the In$lilule of Ch8rtered Accounlanls in England 8nd Wales, we are subject to its Ihi¢BI and other profe&sional requirements wh1() are detailed At https.'IAwM.i¢aew.comlregulalion. Thls report is made lo thè charrfvs Twstees, 8$ a body, in ac¢(trrdance with thè terms of our eng8gemenl letter dated 10 June 2025. Our work has been undertaken solely to prepare for your approval the financial slalemènts of Obex Foundats'on 8nd slate those matters that we have agreed to state to the charivs Twslees. as 8 body, in this report in acrdance with ICAEW Technical Release 07116 AAF. To th& fullèst exlenl peimilted by law, we do not accept or assume responsibthty to anyone other than Obex Foundation and the tharity$ Trusle8s as a body, for our work orfor Ihls report. 11 is your duty lo ensure that Obex Foundatlon has kept adequate accounting records Ènd lo propafe statutory financial slatemenls that give a true arbd fair wew of the ass81$, liabiliti85. financial positlon and surplus of Obex FOunda1n. You eonsider that Obex Foundgllon is exempt from the StOry audlt qUIr•Ment for Ihe period. and 1$ not required to obtain an independent examinevs report. We have not been instTuded to carry out an audit or a revl6w of th& financial statements ol Obèx FoundatlM. For this rea¥on, we have not verified the acr#Jracy or completen&ss of the accounting records OT inf0matn and explanatitins you have grven to us and we do not, thereforè. express any opinion on the slaiutory ffinanaal statements. Roger4 Sp•nc•r Chartored Accountants Newslead House Pelham Rd Notb"ngham NG5 1AP
OBEX FOUNDATION STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 AUGUST 2024 Unr•strlct•d fund$ 2024 Note8 Income from: Donations and18gac4e$ 15,000 Total incomo 15,000 Exponditur• on: Charitable actiwties Total •xp•ndilur• Net incom• and moYom•rt in funds 14,335 R•eon¢iliation of funth: Fund balances at 21 September 2023 Fund balanc•s •131 AUgt 2024 14,335 The slalemenl of fIftanal actNitie5 indudes all gain$ and 1088es reco3nised In the perh. All iniJJme and expenditure <Jerive from continuin9 activities.
OBEX FOUNDATION STATEMENT OF FINANCIAL POSITION ASAT31 AUGUST2024 2024 Notes Curr•nt ••$ets Cash at bank and in hand 30,339 Curr•nt liahllhlgs {16.0041 M•t currgnt 0$80ts 14.335 The fund$ of the charity Unrestricted funds 14.335 14,335 The financ4al statements were approved by the Trustees on ................. Dr S Bhandal Chalr of Tru$tee6
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2024 Accounllng policles Charlty Infornmtion Obex FoundatJn Is a Charitable In¢orporaled organi110n in the Unlled lQngdom. The address of the prinople office is 10S111 Hh Stra8t, Houghton Regbs, Bèdfordshire, LU5 5BJ. 1.1 A¢countlng ¢onveTrtlon Th8 ffinanaal stslements have bèen prepared in accordanc8 with the chartys goveming document. the CharItS Act 2011, FRS 102 The FinancAal Reporting Standard appllcable in the UK and Republic of Iroland" 8n¢J the Charities SORP 'A¢¢ounting and Reporting by Chari18.' Statement of Recommended Practice applicable lo charitie5 preparing ther Sets in accordance with tha Financial Reporting Standard applicable in the UK and Rèpublic of Ireland (FRS 1021" The charrty is a Publlc Benefft Entity as defined by FRS 102. The charity has taken advantaga of the provisions In the SORP for charttiès not to prepare a 81alemant f)f cash fkws. The finanaal statements have departed from the CharFii8s IActx)unls and Reports) RegulatnS 2008 onty to the exlent required to provlde a true and fair ew. This departure has invdved following the Slatsment of RecKJmmended Practicè for charities apptying FRS 102 rather than the version of th8 Statement of Re¢omrnended Pracbce which is refarred to in the Rggulath)ns but which has since been tlIaW. The finaniial statements are prepared in sterfing, which is the luncltonal currency of the tharity. Monetary amounts in these financial $tslements aro rounded lo the ngaresl £. The financial slalemants h8ve been prepared under the hlstorical cost convention, Imodifd to indude the revaluation of freehold properties and lo include invasknant propert5 and certain financial instrun7ents at tair valuel. The principal accounting pol8 adopted ar• vt out below. 1.1 Golng con¢•rn At the time of approving the finanual slatemenls, the Trustees have a reasonable expec10 that thè charity has 8dequat8 resources to continue in operational existence for the foreseeable fulure. Thus the Tru81ees onlinue to adopt Ihe going ¢on¢ern basi$ of aw)unling in preparlng the financi81 slatoments. la Charitable funds Unrestri8 funds Are avallable for use at the discrètXn of the Trustees in further8n¢e of their tharitabl& obj8ctivès. 1A Incom Income is rgc¥)gnised whw the tharty is legally enlilled to it after any performarKe e0ndtti(S have been met the amounts can be m•asured reliabty, and it is probable that income wll be re¢eNed. Cash donations are recognised on receipt. Other donations recognised on¢e tho charity has béan rKlified of the donation, unless perforniance conditions requiro dafèrr81 of the amount. Income tax r8¢oveTabl8 in relalon to donations recelved under GrftAi¢J or deeds of covenant is racogni$od al the time otthe donation.
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2024 A¢¢ounllng poll¢l•$ Icontlnuodl 1.6 Expenditure Expenditure is recognised once there Is e legal or constructfve obNgalOon lo trBnsfer economi¢ benefil lo thlrd party, it is probable that a transfer of economic benefits will be required In settlement, and the amount of the obligation ¢an be measured rellably. Expendvture Is classifd by È¢twlty. The costs of èaeh actimty ar8 made up of thg lolal of direct CQg18 and shared co$l$, including $upp¢rt costs involvgd in undertaking each activty. Direct costs attributable to a single actiwly are allocated diredty lo that activity. Shared costs whl¢h conliibule to more than one activlty and support Costs which are not attribulable to a $lngle 8¢1iwty are apportioned beO&n those activit$ on 8 basis consi$lenl WTth tha use of resourc9$. Central 8ff costs Bre allocated on the basis of time spent, and dfrpreuatlon charges are allocated on the porb.on of the aS$'S usa. 1.6 Cash ond cash •qulvalÈnts Cash and eash equivalents include cash in hand, deposfts held al ¢aN wllh banks, other short-tami liquid investments with original m8lurrties of threa month$ or less, and bank C*verdrafts. B8nk overdrafts are shown withln borrowings in ¢urrent Ilabilities. Cvlti¢al accountlng eBtlmates and judgements In the apICatiOn of thè d)rS accounting policles, the Tru$tsgs are rtquireil lo make judgements, estimgtes and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The eslimale5 and a$slated assumptions are based on historical experi&ne& and other factors that are considered to be relgvant. Aciu81 results may drffer from these eslimatss. The estimates and underlying assumpuons ale revi8wed on an ongoing basi5. Revisions to 8ccounting est6males are recognised in the period in which the estimat8 is revised where the revision affects only that period, or in the period of the revision and future periods where Ihe remsion affects both cunt and future periods. In¢om• from donatlons •nd legaci•s Uthrejjtricted Unrestri¢t•d funds funds 2024 Donation$ and gffts 15,000
OBEX FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 AUGUST2024 Expendlturg on Charltable actlvltles Totsl 2024 Dir•ct eosts Bank Charges Shar• of support And govemanc• eo$ts Governance Analys1$ by fund Unrestri¢led lunds 685 TnMteeJ Non8 of the Trustees lor any persons connected wilh Iheml re¢elved any remunoration or beneffts from the charity during the perK)d. Tax•tlon The charity Is exempt from taxation on ils advlties because all 118 income is applied for eh8rf1able purposes. Current liabilltle• 2024 Accruals and dèferred income 16,004 Unrnstri¢ted funds Th• unrestricted funds of the charlty compri88 the unexpended balan¢es of donations and grants which are not subject to spee4fic conditions by donors and grantors as to how may be used. These include designated funds which have been sel aslde out of unreriCted fvnds by the trustees for specific purpos9$. At21 Soptsmber 2023 Incoming sour* Rèsources At 31 ALrgust xpended 2024 General funds 15,000 1665) 14,335 10 R•lat party transactio There were no disclosable related party transactions durfng thè period.