CHARITY REGISTRATION NUMBER: 1205076
The Offploy Foundation
Unaudited Financial Statements
31 May 2025
The Offploy Foundation Financial Statements Year ended 31 May 2025
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| Page | |
|---|---|
| Trustees’ annual report | 3 |
| Independent examiner’s report to the Trustees | 5 |
| Statement of fnancial actvites | 6 |
| Statement of fnancial positon | 7 |
| Notes to the fnancial statements | 8 |
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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Trustees’ Annual Report
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 May 2025.
Reference and administrative details
| Registered charity name | The Ofploy Foundaton |
|---|---|
| Charity registraton number | 1205076 |
| Principal ofce | 10-12 East Parade |
| Leeds | |
| LS1 2BH | |
| The Trustees | Mr Patric Wong |
| Mr Andrew Neil Thomson | |
| Mr Robert Patrick Armstead | |
| Independent examiner | Mrs Dawn Stansfeld |
Structure, governance, and management
The charity is registered as a Foundational Charitable Incorporated Organisation. Its Trustees are drawn from/selected on the basis of either their professional experience of working within the justice sector, or having personal lived experience of the justice sector.
The charity also has a close working relationship with Offploy CIC (A company registered in England number 10204780). This sees it sharing back-office costs and functions in order to make best use of its incoming financial resources, and is subject to structured agreements to ensure that the CIC does not receive any undue benefit as a non-charity.
Objectives and activities
The charity exists to promote the social inclusion, resettlement and rehabilitation of offenders, ex-offenders, and those at risk of offending for the benefit of the public. It seeks to achieve this through providing education and training to assist beneficiaries in finding employment and reintegrating into society, and undertaking or commissioning research, projects, and events as may assist in creating new opportunities for beneficiaries.
During this year, our first full year of operation, we have successfully established our foundational systems and processes. A key achievement was moving from development to active delivery, which enabled us to begin fulfilling our charitable mission and demonstrate our capabilities to a major funder.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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The Trustees also confirm that they have followed guidance issued by the Charity Commission, with regards to ensuring appropriate public benefit has been considered in their leadership of the charity, during this year. This is supplemented by the charity's own internal public benefit policy.
Achievements and performance
This was a landmark year for The Offploy Foundation. We moved from planning to execution, successfully delivering 75% of the activities related to our first major grant. This was a critical step in fulfilling our charitable purpose and was achieved through a close working relationship with Offploy CIC, to whom we paid £20,152 for service delivery.
Our financial performance reflects this successful delivery, with a total income of £22,419 and a total expenditure of £21,593.
Financial review
The charity's financial position at the end of the year shows a positive balance of £1,066. This result is a testament to our prudent financial management, as we have only recognized the portion of the grant income corresponding to the activities delivered within the reporting period.
We remain confident in the charity's ability to continue as a going concern. This belief is supported by our proven capability to successfully deliver on our grant obligations and the fact that we have secured additional grant awards since the year-end, which will be reported in the next financial year.
The trustees' annual report was approved on 30 August 2025 and signed on behalf of the board of trustees by:
Mr Robert Patrick Armstead Chair of Trustees Friday 3[rd] October 2025
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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Independent Examiner’s Report
I hereby report to the trustees on my examination of the financial statements of The Offploy Foundation ('the charity') for the year ended 31 May 2025.
Responsibilities and basis of report
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement - matter of concern identified
I have completed my examination. I am pleased to confirm that the accounting records for the year were well-kept and the accounting was duly completed. I have found no material matters in connection with the examination that give me cause to believe that, in any material respect: a) the accounting records were not kept in accordance with section 130 of the Charities Act 2011; or
b) the accounts do not accord with the accounting records; or
c) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
In conclusion, I have no concerns and have come across no other matters in connection with the examination that require attention in this report for a proper understanding of the accounts.
Mrs Dawn Stansfield Date: 29/09/2025
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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Income and expenditure
| 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2024 | |||
|---|---|---|---|---|---|---|---|---|---|
| Note | Unrestricted funds £ |
Restricted funds £ |
Total funds £ |
Total funds £ |
|||||
| Income and endowments | |||||||||
| Donatons and legacies | 4 | 2,248 | 20,135 | 22,383 | - | ||||
| Investment income | 5 | 36 | - | 36 | - | ||||
| Total income | 2,284 | 20,135 | 22,419 | - | |||||
| Expenditure | |||||||||
| Costs of delivering charitable actvites |
6 | 1,201 | 20,152 | 21,353 | - | ||||
| Total expenditure | 1,201 | 20,152 | 21,353 | - | |||||
| Net income and net movement in funds |
1,083 | (17) | 1,066 | - | |||||
| Reconciliaton of funds | |||||||||
| Total funds brought forward |
- | - | - | - | |||||
| Total funds carried forward |
1,083 | (17) | 1,066 | - |
The statement of financial activities includes all gained and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form part of these financial statements.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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Balance sheet
| 2025 | 2025 | 2025 | 2025 | 2025 | 2024 | |||
|---|---|---|---|---|---|---|---|---|
| Note | Unrestricted funds £ |
Restricted funds £ |
Total funds £ |
Total funds £ |
||||
| Current assets | ||||||||
| Debtors | 10 | 746 | 5,127 | 5,873 | - | |||
| Cash at bank and in hand | 577 | 1,573 | 2,150 | - | ||||
| Creditors: amounts falling due within one year |
11 | 240 | 6,717 | 6,957 | - | |||
| Net current assets | 1083 | (17) | 1066 | |||||
| Net assets less current liabilites |
1083 | (17) | 1066 | |||||
| Funds of the charity | ||||||||
| Restricted | (17) | |||||||
| Unrestricted | 1083 | |||||||
| Total charity funds | 1066 | |||||||
These financial statements were approved by the board of Trustees and authorised for issue on 30 August 2025, and are signed on behalf of the board by:
Mr Robert Patrick Armstead Trustee
The notes on pages 8 to 13 form part of these financial statements.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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Notes to the accounts
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is incorporated as a CIO. The address of the principal office is 10-12 East Parade, Leeds, LS12BH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The Trustees are confident about the charity as a going concern. This confidence is underpinned by the positive financial performance during the year, coupled with the charity having received awards from grant-making bodies during the following year, with monies in respect of these having been received to report on them in the upcoming financial year.
Judgements and key sources of estimation uncertainty
These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable, and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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4. Donations and legacies
| Unrestricted funds |
Restricted funds |
Total funds 2025 £ |
Total funds 2024 £ |
|
|---|---|---|---|---|
| Donatons | ||||
| Donatons andgrants received | 2,248 | 20,135 | 22,383 | - |
5. investment income
| Unrestricted funds |
Restricted funds | Total funds 2025 £ |
Total funds 2024 £ |
|
|---|---|---|---|---|
| Interest income | 36 | - | 36 | - |
6. costs of delivering charitable activities
| Unrestricted funds |
Unrestricted funds |
Restricted funds |
Restricted funds |
Total funds 2025 £ |
Total funds 2025 £ |
Total funds 2024 £ |
|
|---|---|---|---|---|---|---|---|
| Service delivery | - | 20,152 | 20,152 | - | |||
| Audit and accountancyfees | 1,200 | - | 1,200 | - | |||
| Bank fees | 1 | - | 1 | - | |||
| 1,201 | 20,152 | 21,353 | - |
7. staff costs
The average head count of employees during the year was Nil.
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
8. Trustee remuneration and expenses
No remuneration of other benefits from employment with the charity or a related entity were received by the Trustees.
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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9. Support cost
The charity's support costs are allocated to the expenditure on charitable activities. The basis of the allocation is a combination of direct costs and staff time incurred in delivering the charity's objectives.
The support costs allocated to charitable activities for the year ended 31 May 2025 were as follows:
Costs of delivering charitable activities: £1,1441
Project specific charitable activities: £20,152
The total support costs amounted to £21,539
All figures are based on the direct costs incurred during the year.
10. Deferred income
| Unrestricted funds £ |
Restricted funds £ |
Total funds 2025 £ |
Total funds 2024 £ |
|
|---|---|---|---|---|
| Grant amount deferred inyear | 746 | 5,128 | 5,873 | - |
The amount of unrestricted deferring income reported does not include deferred income otherwise already stated as being £1,584 cash at bank in the balance sheet – signified by identifying this cash amount as being restricted.
11. Creditors
| Unrestricted funds |
Restricted funds |
Restricted funds |
Total funds 2025 £ |
Total funds 2025 £ |
Total funds 2024 £ |
|
|---|---|---|---|---|---|---|
| Accountancyfees | 240 | - | 240 | - | ||
| Service charges to support project delivery |
- | 6,717 | 6,717 | - | ||
| 240 | 6,717 | 6,957 | - |
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The Offploy Foundation Financial Statements Year ended 31 May 2025
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12. Analysis of charitable funds
| At 1 June 2024 £ |
Income £ |
Expenditure £ |
At 31 May 2025 2025 £ |
At 31 May 2024 £ |
|
|---|---|---|---|---|---|
| General funds | - | 2,284 | 1,201 | 1,083 | - |
| Restricted funds | - | 20,135 | 20,152 | (17) | - |
13. Related parties
The Offploy Foundation is a registered charity. Offploy CIC is a related party by virtue of shared key management personnel and trustees who hold positions of significant influence over both entities.
During the year ended 31 May 2025, the following transaction took place between The Offploy Foundation and Offploy CIC:
The Offploy Foundation paid Offploy CIC £20,152 for service delivery costs related to the LBS donation.
No other transactions were entered into with trustees or other related parties, or with organisations in which a trustee has a financial interest.
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