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2025-03-31-accounts

For the period ended 31 March 2025 Charity number 1208989

Introduction
Contents
Reference and administrative information 6
Trustees’ annual report 7
Independent auditor’s report 23
Statement of fnancial activities 27
Balance sheet 28
Statement of cash fows 29
Notes to the fnancial statements 31

The Ark Family Resource Centre Previous page: Baby Bank Alliance (Hartlepool Baby Bank) 4

3 Collective Futures Annual Report & Accounts

Introduction

“ The first five years of life are foundational — shaping everything”

Reference and administrative information

Charity name

Collective Futures (CIO)

Charity number 1208989

Country of registration England & Wales

Registered office 20 Bentinck Street, London, W1U 2EU

Trustees

Trustees who served during the period and up to the date of this report were as follows:

Jonathan Rosen – Appointed 5 June 2024 Thomas Mitchell – Appointed 5 June 2024 Vanessa North – Appointed 5 June 2024 Blair Thompson – Appointed 5 June 2024

Key management personnel Samantha Creme (Director)

Bankers Lloyds Bank 25 Gresham Street, London, EC2V 7HN

Auditor

Sayer Vincent LLP, Chartered Accountants and Statutory Auditor 110 Golden Lane, London, EC1Y 0TG

Solicitors

Amma Birth Companions (Lisa Bretherick)

Paul, Weiss, Rifkind, Wharton & Garrison LLP 20 Air Street, London, W1B 5AN

5 Collective Futures Annual Report & Accounts

6

Trustees’ annual report

Welcome from the Chair & Director

building. Each has offered a unique perspective, and each has helped us move faster towards insight, coordination and impact.

As a new philanthropic foundation, we set out to bring a fresh approach to philanthropy, grounded in the belief that being effective matters more than being right. We wanted to rethink not just how money is given, but how time, insight and relationships can be used to drive change — backing people, not just projects, and focusing on long-term solutions, not just short-term fixes.

We’re proud to have supported local charities delivering vital services in their communities in our first year. At the same time, we’ve invested in research, shared measurement, and sector-wide convening. Our work is only just beginning, but we’re encouraged by what’s already been achieved and even more excited by what lies ahead.

For us, effectiveness is about more than “what” just beginning, but we’re encouraged by what’s we achieve – it’s also about “how” we contribute. already been achieved and even more excited It means being thoughtful in how we contribute; by what lies ahead. listening carefully and adapting as circumstances change. It means regularly asking whether our Thank you to all our partners and peers who’ve current plans and approaches are still the most shared your time, wisdom, and ambition with us effective path to impact, and it means taking the this year. We’re looking forward to what we can time to understand the work already being done, build together. so that we contribute in a way that strengthens the wider system, not just our own efforts.

Our first area of focus is early childhood development. We chose to start here because the first five years of life are foundational — shaping everything from educational outcomes to long-term wellbeing — yet this phase from conception to reception remains underfunded and often overlooked. By investing earlier, thoughtfully and in partnership with others, we believe philanthropy can help shift outcomes for a generation.

Jonathan Rosen Sam Creme Chair of Trustees Director

Our first year was all about learning, building trust and collaborating with others. From grassroots charities supporting babies, children, and parents; to policy teams and research institutions; to businesses and fellow funders, we’ve been inspired by the partnerships we are

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Baby Bank
Alliance
(Hartlepool
Baby Bank)
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7 Collective Futures Annual Report & Accounts

8

Trustees’ annual report

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Parents 1st UK
9 Collective Futures Annual Report & Accounts
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Objectives and activities

The trustees present their report and the audited financial statements for the period ended 31 March 2025. Reference and administrative information set out on page 6 forms part of this report. The financial statements comply with current statutory requirements, the charity’s trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

provision of financial grants and/or assistance to organisations or bodies which are working to alleviate poverty and / or the effects of economic inequality for children or young people. The effects of economic inequality for these purposes includes, but is not limited to, a lack of access to healthcare, education, housing, and opportunities to enjoy healthy leisure time occupation to learn new skills, broaden horizons and to help them thrive.

Collective Futures (CIO) is a philanthropic foundation established in July 2024 by Partners of TDR Capital LLP. Our approach to philanthropy combines best practices in social impact with TDR’s approach to backing unconventional opportunities, investing in people, and building strong relationships. We focus on areas with outsized potential to improve lives that are often underfunded and overlooked.

Our first thematic focus is early childhood development in the UK — a period that shapes lifelong outcomes but despite the evidence, is still relatively overlooked and underfunded. We also invest in the wider social sector’s capacity by supporting leadership, collaboration, and insight-driven action. Our approach is collaborative and insight-led. We prioritise trustbased partnerships and aim to catalyse further investment from aligned funders and partners. As a grant-making foundation, we provide unrestricted and project funding, strategic support, and capacity to charities and partners working to strengthen communities.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity’s aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Our charitable objects are to advance such charitable purposes (according to the law of England and Wales) as the charity trustees see fit, in particular, but not limited to, the

10

Trustees’ annual report

Achievements and performance

In our first nine months of operation (July 2024 – March 2025), we supported both immediate needs and long-term systems change in early childhood, awarding £355,000 in grants (£206,000 in unrestricted grants to delivery organisations and £149,000 on restricted grants to support early childhood projects).

We have also built the culture, systems, processes, networks and capabilities required to establish Collective Futures as a long-term funder in Early Childhood and beyond.

Our approach

We have a dual approach of supporting frontline charities having tangible impact in their local communities (Partners) while contributing to insight, coordination, and long-term systems change (Projects).

Partners

Supporting the immediate needs “providing food to address child hunger”

Projects

Building towards a better future

“preventing child hunger from happening in the first place”

Partners

We awarded £200,000 in partner grants to 8 grassroots charities working with babies, children and families across the UK and small grants totalling £6,000 to 7 charities, as outlined in Note 4. These unrestricted grants supported delivery of early education and childcare, family support, baby banks, secure housing and support for young pregnant mothers, activities for neurodiverse children and their parents, and respite and advocacy services.

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Amma Birth
Companions
(Lisa Bretherick)
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Glasgow

Birth companionship pre-birth, family groups post-birth

National

Network of baby banks, joint advocacy & partnerships

Tamworth

Supportive accommodation for young pregnant women without accommodation

Harwich

Inclusive nursery, respite sessions, toddler groups, community support

Essex

Peer support for parents, baby & toddler groups

Leeds

Emotional & practical support in at-risk homes, Dads Matter

Brixton

Term-time nursery, holiday clubs, community centre & support

Hatfield

Activities & support for neurodiverse children & their families

11 Collective Futures Annual Report & Accounts

12

Trustees’ annual report

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“ Our first year was
all about learning,
building trust
and collaborating
with others”
The Ark Family
Resource Centre
13 Collective Futures Annual Report & Accounts
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Projects

Working in collaboration with other funders and partners, we also co-funded five strategic projects:

• ‘Start Strong’ Long-term Strategic

14

Trustees’ annual report

Organisational development

In our first year as a foundation, we developed our governance and decision-making processes, Theory of Impact, brand, learning approach, and we selected our first focus area: Early Childhood.

We also developed our guiding principles. These guiding principles shape how we behave, work and achieve impact. We will monitor how well our

Thoughtful

We listen, learn, and are curious. We do our best to consider a wide range of perspectives, evidence and experiences before making decisions or acting. We are willing to evolve and admit mistakes.

Pragmatic

We know that positive, lasting impact requires patience and flexibility, coupled with equal doses of optimism and realism. We know that impact may be non-linear and are unfazed by challenges - “course correcting” as needed.

Humble

We care more about being effective than being right. We listen to our partners and seek to engage with them in a way which is relevant and meaningful to them. We prefer to champion from the side or in the background; but if needed, we can lead from the front (for a bit).

partners think we are modelling these principles in the coming years and whether there are any improvements to incorporate to ensure we are an effective organisation that enables our partners to achieve impact.

Together, our principles make us who we are: an organisation that strives to continuously learn, be highly effective, and considered a trusted partner.

Caring

We extend kindness and compassion to everyone. We have the flexibility to use our resources to absorb risk for others.

Collaborative

We look to work with others to enhance what we can achieve together. We bring healthy challenge and ideas; and appreciate the same from our partners. We look for solutions and have a bias for collective action and learning.

Responsive

We recognise contexts evolve and we are adaptable and supportive when they do. We strive to be agile and decisive, especially in moments of uncertainty.

Future plans

Building on our strategic insights and data projects, and our grassroots funding in year one, we will begin our first multi-year, placebased investment into Early Childhood next year through a Local Ecosystems Fund. We will also continue to build our engagement with public sector bodies and policy makers, including contributing to the Government’s incoming Best Start in Life Strategy.

This coming year we will also continue to support a range of strategic projects in collaboration with other funders, including:

All activity will continue to be insight-led, guided by our Theory of Impact and the Common Outcomes Framework.

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The Ark Family
Resource Centre
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Amma Birth
Companions
(Lisa Bretherick)
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15 Collective Futures Annual Report & Accounts

16

Trustees’ annual report

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Baby Bank
Alliance
(Little Village
Camden)
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Financial Review

Reserves policy and going concern

Total income for the year was £1,399,853. Expenditure totalled £884,694 — including £355,000 in grants, £204,354 on strategic initiatives, £12,000 in governance costs, and £313,340 on support costs. This left a year-end surplus of £515,159, which will be carried forward to support our plans for FY2526.

Our reserves policy is to hold at least 3 months of operating costs (~£80,000) and 1 month of forecast grants. At year end, we had total funds carried forward of £515,159, of which £486,651 were held in unrestricted reserves — significantly above our minimum threshold. These reserves are intended to fund future multi-year grants and other strategic projects in FY2526, including our new Local Ecosystems Fund, and as such, the trustees expect to reduce reserves to be closer to the policy target. Trustees are of the opinion that there are no material uncertainties that cast significant doubt about the ability of the charity to continue as a going concern.

We operate with a lean structure, with pro bono infrastructure support (finance, IT, legal, HR, office space) valued at £35,528 provided by TDR Capital LLP.

Operational costs remained modest and proportionate to our activity. We do not currently undertake public fundraising and received no complaints or issues during the year.

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(Little Village
to continue as a going concern. Camden)
Amma Birth
Companions
(Lisa Bretherick)
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Baby Bank
Alliance
(Hartlepool
Baby Bank)
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Principles risks and uncertainties We maintain a formal risk register reviewed annually by trustees. Principal risks include:

All risks are currently assessed as low after mitigation. No incidents occurred during the year.

Collective Futures

Annual Report & Accounts

17

Trustees’ annual report

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Amma Birth
Companions
(Lisa Bretherick)
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Structure, governance and management

Collective Futures (CIO) is a Charitable Incorporated Organisation (CIO), governed by a constitution dated 5 July 2024 and a Policy Handbook, last updated 20 March 2025.

of three Trustees. There were no trustee resignations during the year. All current trustees were appointed as founding trustees on 5 June 2024 and remain in post. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 6 to the accounts.

The charity is governed by a Board of Trustees that met five times since the foundation’s establishment. The Board of Trustees makes objective, long-term decisions on key issues to advance the organisation’s mission and goals and approves of new grants and projects in line with delegated authorities. Operational matters connected with implementation of the strategy, together with responsibility for the day-to-day running of the charity, are delegated to the Director.

TDR Capital LLP is a related party of the charity. TDR Capital LLP settled £593,128 of costs incurred by the charity during the year, of which £17,426 is owed to TDR Capital LLP as at 31 March 2025. In addition, TDR Capital LLP donated services worth £35,528 to Collective Futures. There are no other related parties of note.

During the year, there was one key management personnel, whose pay and remuneration is set in accordance with the Policy Handbook. The charity seeks to ensure that staff members are be compensated fairly based on their roles, responsibilities, and market rates. All compensations decisions are made in line with the charity’s Authorisation and Spend Approvals outlined in Policy #5, Internal Foundation Financial and Legal Controls. Compensation is reviewed annually and included in the budget.

All trustees underwent a formal induction, covering Collective Futures’ mission, governance structure, policies, and financial processes. Trustees meet bi-monthly to review strategy, grant programmes, risk, and compliance. Ad hoc meetings are also convened as needed. Training has been provided on safeguarding, legal obligations, and Charity Commission best practices. Trustees declare any personal or professional interests at each meeting and appropriate actions are taken to manage potential conflicts.

New Trustees are appointed by the existing Trustees in accordance with the charity’s constitution. There should always be a minimum

Collective Futures

19

Annual Report & Accounts

20

Parents 1st UK

Trustees’ annual report

Statement of responsibilities of the trustees

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that

the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Sayer Vincent LLP was appointed as the charity’s auditor during the year and has expressed its willingness to continue in that capacity. The trustees’ annual report has been approved by the trustees on 20 November 2025 and signed on their behalf by

Jonathan Rosen Chair of Trustees

Collective Futures

21

Annual Report & Accounts

22

Independent auditor's report

Independent auditor’s report to the trustees of Collective Futures (CIO)

Opinion

We have audited the financial statements of Collective Futures (CIO) (‘the charity’) for the period ended 31 March 2025 which comprise the statement of financial activities, balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Collective Futures (CIO)’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

explanations we require for our audit

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Other Information

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit

23 Collective Futures Annual Report & Accounts

24

Independent auditor's report

Independent auditor’s report to the trustees of Collective Futures (CIO)

conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: 

  - We reviewed any reports made to regulators.

management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/

auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charity’s trustees as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the parent charity’s trustees those matters we are required to state to them in an auditor’s

report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charity and the parent charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

25 November 2025

Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, Lonson, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

25 Collective Futures Annual Report & Accounts

26

Financial accounts

Statement of financial activities

For the period from 5th July 2024 to 31st March 2025

Note
Income from:
Donations
2
Interest on cash balances held
Total income
Expenditure on:
Charitable activities
3
Total expenditure
Net income
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
£
1,229,778
75
1,229,853
743,202
743,202
486,651
-
486,651		 Restricted
£
170,000
-
170,000
141,492
141,492
28,508
-
28,508		 2025
Total
£
1,399,778
75
1,399,853
884,694
884,694
515,159
-
515,159

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 13 to the financial statements.

Balance sheet

As at 31st March 2025

Note
Current assets:
Debtors
10
Cash at bank and in hand		 £
238,850
601,935		 2025 £
Liabilities:
Creditors: amounts falling due within one year
11		 840,785
(325,626)
Net current assets 515,159
Total net assets 515,159
The funds of the charity:
13
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Total unrestricted funds		 27,138
459,513		 28,508
486,651
Total charity funds 515,159
Approved by the trustees on 20 November 2025 and signed on their behalf by

Jonathan Rosen, Chair of Trustees

27 Collective Futures Annual Report & Accounts Charity number 1208989

28

Financial accounts

Statement of cash flows

For the period from 5th July 2024 to 31st March 2025

2025
£
Cash fows from operating activities
Net income for the reporting period
515,159
(as per the statement of fnancial activities)
(Increase) in debtors
(238,850)
Increase in creditors
325,626
Net cash provided by operating activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period		 £
601,935
601,935
-
601,935

29 Collective Futures

Charity number 1208989

Annual Report & Accounts

30

Financial accounts

Notes to the financial statements

For the period from 5th July 2024 to 31st March 2025

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

1 Accounting policies

f)

Donations of gifts, services and facilities

a) Statutory information

Collective Futures is a charitable incorporated organisation (CIO) and was registered from 5th July 2024 with the Charity Commission for England and Wales.

The registered office address and principal place of business is 20 Bentinck Street, London, W1U 2EU.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g)

Interest receivable

Interest generated from cash at bank and in hand is recognised when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

e) Income

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

31 Collective Futures

Charity number 1208989

Annual Report & Accounts

32

Financial accounts

2 Income from donations

j)

Grants payable

Grants payable are made to third parties in furtherance of the charity’s objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

k) Allocation of support and governance costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. As the only activity of the Foundation is grant making, all support costs have been allocated accordingly as per Note 3.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

l) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

p) Pensions

The charity does not operate its own pension scheme and instead contributes on behalf of employees to a defined contribution scheme. The charge in the statement of financial activities represents the actual amount of the contribution payable to the pension schemes in respect of the accounting year. There is no liability in excess of this.

Gifts
Donated services		 Unrestricted
£
1,194,250
35,528
1,229,778		 Restricted
£
170,000
-
170,000		 2025
Total
£
1,364,250
35,528
1,399,778

Donated Services compromise of donated legal, professional and administrative services as well as premises and administrative costs incurred through the running of the Foundation throughout the period.

3 Analysis of expenditure (current period)

alysis of expenditure (current period)
Staff costs (Note 6)
Grant Expenditure (Note 4)
Strategic Initiatives - Restricted (Note 13)
Strategic Initiatives - Designated (Note 13)
Travel and Subsistence
Professional Fees
Marketing & Communication
Administration, Premises and Networking
Support costs
Governance costs
Total expenditure 2025		 £
-
355,000
141,492
62,862
-
-
-
-
559,354
313,340
12,000
884,694
Charitable
activities		 Governance
costs
£
-
-
-
-
-
12,000
-
-
12,000
-
(12,000)
-		 Support
costs
£
171,514
-
-
-
11,821
57,072
49,621
23,312
313,340
(313,340)
-
-		 2025
Total
£
171,514
355,000
141,492
62,862
11,821
69,072
49,621
23,312
884,694
-
-
884,694

33 Collective Futures

Charity number 1208989

Annual Report & Accounts

34

Financial accounts

4 Grant making (current period)

5 Net income / (expenditure) for the period

Partners
Purposeful Ventures (Baby Bank Alliance)
Amma Birth Companions
Number 8
Home-Start Leeds
Loughborough Community Centre
Parents 1st
The Ark Family Resource Centre
Potential Kids
Birth Companions
Dingley’s Promise
Foundation Years Trust
Peeple
West London Action for Children
Fair Education Alliance
The Fore
Projects
ReGenerate
Dartington Service Design Lab (Common Outcomes
Collaborative)
Best Beginnings
Civitas
Ethos Foundation (Unifed Campaign)
At the end of the period		 Unrestricted
50,000
30,000
30,000
20,000
20,000
20,000
20,000
10,000
1,000
1,000
1,000
1,000
1,000
500
500
206,000
75,000
40,000
10,000
4,000
20,000
149,000
355,000		 Restricted
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2025
£
50,000
30,000
30,000
20,000
20,000
20,000
20,000
10,000
1,000
1,000
1,000
1,000
1,000
500
500
206,000
75,000
40,000
10,000
4,000
20,000
149,000
355,000

This is stated after charging:
2025
£
Auditor’s remuneration (excluding VAT):
Audit
12,000
6 Analysis of staff costs, trustee remuneration and expenses,
and the cost of key management personnel
Staff costs were as follows:
2025
£
Salaries and wages
150,000
Social security costs
20,195
Employer’s contribution to defned contribution pension schemes
1,319
171,514
During the period there was a single employee who worked for the Charity. The costs for the employee were paid
on account of the Foundation by TDR Capital LLP.
The following number of employees received employee benefts (excluding employer pension costs and employe
national insurance) during the period between:
2025
No.
£150,000 - £159,999
1		 2025
£
12,000
2025
£
150,000
20,195
1,319
171,514

During the period there was a single employee who worked for the Charity. The costs for the employee were paid on account of the Foundation by TDR Capital LLP.

The following number of employees received employee benefits (excluding employer pension costs and employer’s national insurance) during the period between:

35 Collective Futures Annual Report & Accounts

Charity number 1208989

36

Financial accounts

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel (continued)

The total employee benefits (including pension contributions and employer’s national insurance) of the key management personnel were £171,514.

The charity trustees were neither paid nor received any other benefits from employment with the charity in the period. No charity trustee received payment for professional or other services supplied to the charity, including any reimbursement of expenses.

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the period was 1.

8 Related party transactions

TDR Capital LLP is a related party of the Charity. TDR Capital LLP settled £593,128 of costs incurred by the Charity during the period, of which £17,426 is owed to TDR Capital LLP as at 31 March 2025. In addition TDR Capital LLP donated services worth £35,528 to the Foundation as disclosed in Note 2.

9 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10 Debtors

11 Creditors: amounts falling due within one year

reditors: amounts falling due within one year
Trade creditors
Grants payable
Amounts due to Related Parties
Accruals
nalysis of net assets between funds (current period)
General
unrestricted
Designated
£
£
Net current assets
459,513
27,138
Net assets at 31 March 2025
459,513
27,138		 2025
£
2,880
295,000
17,426
10,320		 Total funds
£
515,159
325,626
Restricted
£
28,508
28,508
515,159

12 Analysis of net assets between funds (current period)

Other debtors 2025
£
238,850
238,850

37 Collective Futures

Charity number 1208989

Annual Report & Accounts

38

Financial accounts

13 Movements in funds (current period)

Restricted funds:
Early Childhood Funders
Funding Futures Research
Total restricted funds

Unrestricted funds:
Designated funds:
Early Childhood Funders
Funding Futures Research
Total designated funds
General funds
Total unrestricted funds
Total funds		 At 5 July
2025
£
-
-
-
-
-
-
-
-
-		 Income
& gains
£
60,000
110,000
170,000
-
-
-
1,229,853
1,229,853
1,399,853		 Expenditure
& losses
£
(67,416)
(74,076)
(141,492)
(8,989)
(53,873)
(62,862)
(680,340)
(743,202)
(884,694)		 Transfers
£
-
-
-
10,000
80,000
90,000
(90,000)
-
-		 At 31 March
2025
£
(7,416)
35,924
28,508
1,011
26,127
27,138
459,513
486,651
515,159

Purposes of restricted funds

Early Childhood Funders: Project to increase coordination and collaboration among Early Childhood funders for greater collective impact. Expenditure on the project in the period has been split between restricted and designated funds based upon proportional total expected donations of both parties to the project. Fund is in deficit as at 31 March 2025. The deficit is a result of timing differences between expenditure and donations received, donations totalling £15,000 were received shortly after period end for this fund.

Funding Futures Research: Project looking to identify where to target resources in early childhood and beyond for maximum impact on the life-chance of disadvantaged children. Expenditure on the project in the period has been split between restricted and designated funds based upon proportional total expected donations of both parties to the project.

Purposes of designated funds

Early Childhood Funders: Designated fund created as a result of unrestricted donations transferred to this project. Expenditure on fund has been described in the restricted fund explanation above.

Funding Futures Research: Designated fund created as a result of unrestricted donations transferred to this project. Expenditure on fund has been described in the restricted fund explanation above.

39 Collective Futures Annual Report & Accounts Charity number 1208989

40

Collective Futures