COMPANY NUMBER 01168472 CHARITY NUMBER 325071
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
| Page | |
|---|---|
| 1 | Legal and Administrative Information |
| 2 - 8 | Report of the Trustees |
| 9 | Report of the Independent Examiner |
| 10 | Statement of Financial Activities |
| (incorporating the Income and Expenditure Account) | |
| 11 | Balance Sheet |
| 12 - 20 | Notes to the Financial Statements |
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
The directors of the Charitable Company are its Trustees for the purpose of Charity law and throughout this report are collectively referred to as the Trustees.
| Registered charity name: | The Fonthill Foundation |
|---|---|
| Charity number: | 325071 |
| Company registration number: | 01168472 |
| Registered office: | 2 St Andrews Place |
| Lewes | |
| East Sussex | |
| BN7 1UP | |
| Trustees: | Mrs V J Henley BA (Chair) |
| Mrs M M Lloyd BA (Vice Chair) | |
| Mrs N Cannon | |
| Mr A E Carver | |
| Dr A Spiers (appointed 6 February 2025) | |
| Company Secretary and CEO: | Mrs C Grieves LLB |
| Professional Advisors and Bankers | |
| Independent Examiner: | V M R Anderson BA(Hons) FCA DChA |
| Chartered Accountant | |
| Clark Brownscombe | |
| 2 St Andrews Place | |
| Lewes | |
| East Sussex BN7 1UP | |
| Bankers: | HSBC |
| 9 The Boulevard | |
| Crawley | |
| RH10 1UT | |
| Investment Advisors: | Quilter Cheviot |
| 1 Kingsway | |
| LONDON | |
| WC2B 6AN | |
| Solicitors: | ASB Law |
| 106 High Street | |
| Crawley | |
| West Sussex | |
| RH10 1BF |
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
The Trustees, who are also directors for the purpose of company law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2024 and confirm that they comply with the requirements of the Charities Act 2011 and the Trust deed dated 7 September 2011, the Charities SORP (FRS 102) and the Companies Act 2006.
Legal and administrative details
Legal and administrative details are shown in the schedule of members of the board and professional advisors on page 1.
Structure, governance and management
The Fonthill Foundation was incorporated as a charitable company in 1974, charity registration number 325071, company registration 01168472. The objects were revised and new Articles of Association dated 7 September 2011 approved. The objects are ‘to promote the advancement of education’.
The Trustees determine the general policy of the charity and normally meet at least three times a year to review the overall management and control for which they are responsible. The Board elects a Chairman from amongst its number and a Vice Chairman if it so wishes. The Board has the power to increase or decrease the number of its members according to the Articles of Association requiring currently a minimum of four and a maximum of twenty.
New Trustees are recruited and appointed by means of external adverts, approach by interested individuals and the Foundation’s network of charity and work contacts. Any new potential applicant will be assessed in the light of current skills audit and should they offer the correct skills they will be interviewed by the Chair of Trustees. Formal appointment is approved by a unanimous vote of the Trustees. The Chair of Trustees and the CEO are responsible for conducting an appropriate induction of any new Trustee including familiarising the new Trustee with the Foundation’s key policy and governance documents.
The Trustees have delegated day to day organisational responsibility for the running of the Foundation and its staff to the CEO, Ceetah Grieves. The CEO is required to produce an annual business plan setting out the strategic focus of the Foundation for approval by the Trustees and submit all decisions on charitable spending for the Board’s approval throughout the year. The Trustees in collaboration with the CEO will agree an annual spend for the forthcoming year based on the anticipated performance of the Foundations investments and the Trustees agreement regarding the sustainability of the Foundation. The CEO will then propose throughout the financial year project partners and levels of project spending for the Board’s approval.
The Board reviews staffing remuneration annually at its AGM, current levels of pay have been determined by researching comparative salaries in the industry.
The Trustees actively review the major risks that the charity faces on a regular basis and believe that maintaining investments at current levels, combined with annual review of the controls over key financial decision, will provide sufficient resources in the event of adverse market conditions. The Trustees have also examined other operational and business risks faced by the charity and confirmed they have adequate systems to mitigate the significant risks.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
Objectives and activities
In setting objectives and planning activities the Trustees have complied with the duty in section 17 of the 2011 Charities Act and have given careful consideration to the Charity Commission’s general guidance on public benefit. As stated previously the Foundation’s objects are ‘to promote the advancement of education’ and in doing this the Trustees look to fulfil the following strategy through their collective Vision, Mission and Values statement. This is as follows:
Our vision
A world where every young person has an education that inspires them to fulfil their hopes and dreams and to flourish.
Our mission
Fonthill Foundation is dedicated to transforming the lives of young people, in the UK and overseas, through educational and inspirational life experiences.
Our values
Integrity:
We will act with honesty and transparency at all times, ensuring that we are fully accountable for all that we do.
Partnership:
We will work in partnership with charities, schools and other organisations to support and add value to the work that they are already doing in order to achieve our vision.
Empowerment:
We will empower young people to help themselves, by giving them the education and life skills they need to fulfil their potential in life.
Listening:
We will listen to our beneficiaries to ensure that we work to meet their needs, and not the needs of the charity.
Our activities this financial year
This year we worked towards fulfilling our objectives by carrying out the following activities:
During the year the Foundation made direct charitable grants totalling £684,418 (2023: £429,608).
The previous financial year, 2022-23, was the final financial year of a five year strategic plan. Therefore, the Board and CEO held a strategy review to reflect on its charitable remit, its grant giving and all its grant giving strands. The Board and CEO analysed the post covid landscape ranging from price inflation to issues with pastoral support within schools. They also reviewed how we could adapt and update our partnerships for the next five years including offering multi-year commitments to established UK partners to give them the security to plan ahead and deliver education projects rather than fundraise.
The Trustees also agreed to start overseas travel again with a focus on specific territories, Kenya and Ghana, to enable us to form closer and more in-depth relationships with those partners and territories and to understand their education systems. The first visit this year was to Raising Futures, Kenya, to celebrate our investment in a vocational centre they had built to serve their community in the informal settlements in the Dagoretti area, whilst developing further overseas work in Ghana with a planned trip for early in the next financial year 2024/25.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
The Trustees also considered annual grant spending balanced against income from investments and agreed the Charity would have a standing item on its agenda going forward to consider the Charity’s legacy, and whether there may be one or two ‘signature’ projects which resonate with our key programme strands and would preserve our legacy beyond our charity timeline.
Finally, we allocated staff time to update our internal systems and website to ensure greater awareness, fairness and easier access to all external applicants wanting to learn more or apply for our various grant rounds on offer.
This financial year continued some common threads of grant funding, which the Board felt were still closely connected with our charitable aims, with the following programmes strands:
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Expansion of the build and local resources elements of the overseas programme through direct partnership working. To focus our support on the most economically marginalised countries and to countries we felt we could have a good level of oversight and engagement with. We look to support well structured, sustainable programmes with an acceptable level of risk.
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Partnering with local education establishments and other organisations to enable life changing experiences for UK students and young people enabling young people from the UK, often those who are struggling to find direction, are disengaged with education or who have low hopes and aspirations, to take part in activities that help broaden their experiences, whilst developing their skills, aspirations and mindset. Engaging in activities away from the formal classroom setting that take young people out of their comfort zone, stretching and challenging their thinking, can offer something that truly changes participants' outlook on life. From experience we know that young people come through with more confidence, a sense of pride and achievement in what they have done, a deeper respect and a new outlook on life. These opportunities can be truly life enhancing.
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Continuing to deliver larger partnership projects in the UK through the UK Programme enabling our local community partners to deliver additional educational impact. Since the start of the charity we have worked with many UK project partners delivering a wide range of exciting and collaborative education projects. These projects have helped young people build new skills, enhanced or given new learning opportunities for those in need, and focused on enhancing education opportunities for all.
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Community Grants Programme for local level education project support. Through this programme we have enabled organisations to apply for small grants to support a diverse range of local projects, from literacy projects to resilience training for young people. In addition to the larger partnership programmes, we feel it is important to collaborate with and support small, worthwhile, local projects that need a little helping hand to get started, or to keep delivering their great work.
We continued to focus our work within these key agreed areas of our business plan whilst being aware we needed to work extremely closely with our existing project partners to ensure we continued support, introduced during the pandemic, which we felt was still essential. In particular, we recognised the significant work our local primary school community was continuing to do to help their students ‘catch up’ from the pandemic dealing with unprecedented levels of pupil anxiety. We listened to their needs and agreed to continue for a further year the temporary grant support we had started during the pandemic to make available funds for play therapy and counselling.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
We are very proud that we continued flexible support for many of our longstanding partners this year; listening to their needs and helping them adapt and assist their students to continue to engage with their learning. Despite all the educational and economic challenges faced in the UK and Overseas rebuilding from the global pandemic, through the business plan structure of programmes we continued to deliver a very varied and productive range of projects during the financial year, these are as follows:
Overseas Programme
During the 2023-24 financial year we worked in partnership with existing charities to help with the following:-
● In partnership with Ocean Stars , Sri Lanka, we assisted with the sixth year of their roll-out of their Preschool child development and teacher training programmes across their network of pre-schools. The programme supports the improvement of early years teaching practice and quality, along with improving teachers’ methods for child assessment. We also supported a three day residential training conference for their network of pre-school teachers and continued a feeding programme within their preschools to ensure their pupils were well fed as the country entered an unprecedented economic situation.
● In partnership with EduSpots , Ghana, we supported their digital expansion programme across their community owned library-education spaces called ‘Spots’ in rural Ghana. With a Fonthill staff visit planned for the following financial year.
● In partnership with Ripple Africa, Malawi , we supported the continued delivery of their Life Skills Education Project supporting young students to keep themselves safe and for young women in particular to avoid pregnancy/school dropout. In addition funding was provided for much needed school & classroom repair work to ensure buildings were safe for pupils and staff.
● In partnership with PEAS, Ghana we continued the development of a Ghana school improvement programme, working alongside the Ghanaian government and aimed at improving teaching practices and school culture throughout the education system and initiated in rural Northern Ghana.
● In partnership with Raising Futures, Kenya, we completed a project to finance the build of a new vocational centre for their training college based in a slum area of Nairobi offering free vocational training for college aged students.
● After a return visit to three schools we had been connected with a few years ago in the informal settlement areas of Nairobi we committed a small grant to three private primary schools, to enable them to raise standards and improve welfare for their pupils.
UK Programme
● In partnership with Spear Brighton , we funded a cohort of young people through their awardwinning Spear Foundation course that develops participants’ employability skills, confidence and mindset.
● In partnership with B&H Community Kitchen , we continued a further year of primary school cooking workshops for seven schools based in Brighton & Hove who would otherwise not have access to such facilities or learning opportunities. Furthermore we helped them initiate a series of outdoor environmental learning sessions for local primary schools and youth groups at Stanmer Park.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
● In partnership with Villiers Park Education Trust we supported their Future Leaders programme with a group of their partner schools in Hastings.
● In partnership with IntoUniversity Brighton we continued our assistance of their long-term educational support, pastoral care and one-to-one mentoring of pupils in the most disadvantaged areas around the City, with the aim of bringing higher education within the reach of the students from these communities.
● In partnership with The Change Foundation we continued from the previous year, a programme called ‘Rugby for Change’ tackling county lines awareness through sport in three local Brighton primary schools.
● In partnership with The Russell Martin Foundation we continued a KS2 mentoring project in Brighton and Hove working with primary school pupils as they transition into two local secondary schools.
● In partnership with Hindleap Warren we continued to run residential activity trips for three primary schools in areas of high deprivation in Sussex.
● In partnership with The Crew Club we continued the support of various programmes that proved to be very successful at the club, including a homework club and summer activities programme.
● In partnership with South Downs National Park Trust we supported their apprentice ranger scheme at Plumpton College and a fund for local schools to apply for outdoor learning activities in the national park for local school groups.
● In partnership with Little Green Pig we started a programme of after school writing sessions for vulnerable pupils at a primary school in Worthing including dedicated transition work for Year 6’s.
● In partnership with Table Talk Foundation we supported a food skills programme for local primary schools and a ‘Chef on the Farm’ project delivered at Plumpton College.
● In partnership with Jamie’s Farm, Lewes we supported three school residential visits for disadvantaged pupils from local schools.
● In partnership with AudioActive we helped deliver their Equilizer music producing workshops for young females.
● In partnership with Team Domenica we supported the delivery of their specialist post-16 education provision for young people with disabilities.
● In partnership with David Shepherd Wildlife Foundation we developed a curriculum linked secondary school conservation programme and library-based conservation activities for young children.
● In partnership with Tuppenny Barn we delivered an outdoor focused support programme for young carers.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
Small Community Grant Programme
We were delighted to deliver grant funding to a dynamic and diverse range of local projects through our community grants scheme. In all we funded 15 grants of up to £5,000 each.
Primary Outdoor Residential Awards
We looked for schools that would otherwise not be able to fund their Year 5 or Year 6 outdoor residential trips and funded a further 11 residential trips for schools in the most deprived areas of Sussex, with reference to the local indices of deprivation data and with the highest profile of disadvantaged pupils.
Schools Therapy Support Programme
Responding and listening to the long term effects of the pandemic on the welfare of our school partners we continued with our grant programme, developed during our pandemic recovery fund, to support requests for counselling and play therapy within the schools and funded eight local primary schools to deliver school-based counselling and therapy work.
Overarching all the delivery of this financial year and our strategic discussions was consideration for our overall charitable impact and what elements the Trustees wished to focus on to ensure Fonthill’s impact and legacy continue after our charity’s time horizon. Above all, we continue to endeavour to listen to our partners and respond flexibly to the needs they identify.
The charity continues to employ a part-time CEO (Ceetah Grieves) who fully oversees the operation and direction of the charity, and who is supported by a part-time Projects Manager (Laura Ward). The organisation’s staffing needs are currently fully served and are considered as a standing item at each Trustee meeting.
Financial review for the year and reserves policy
Income for the year amounted to £153,098 (2023: £172,297). Expenditure on charitable activities was £824,753 (2023: £539,120). Gains on investments were £542,735 (2023: losses £139,551) resulting in a net deficit of £128,920 (2023: deficit £516,849). Total funds carried forward were £4,843,466 (2023: £4,972,386).
The Trustees wish to ensure that the level of reserves and investments are sufficient to enable the Charity to continue to make grants to suitable applicants for the foreseeable future. Despite the challenges of the pandemic and continuing global economic uncertainty our investments remain healthy and therefore the Trustees are of the view that the Trust is a going concern. This year's expenditure on charitable activities has exceeded previous years and the Trustees agreed to increase this further into 2024/25 to respond to rising inflationary pressures.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2024
Statement of Trustees responsibilities
The members of the Board of Trustees, as Trustees and Directors, are responsible for preparing the Report of the Trustees and the financial statements. The Trustees have chosen to prepare financial statements for the company in accordance with United Kingdom Generally Accepted Accounting Practice (UK GAAP). Company law requires the Trustees to prepare such financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the surplus or deficit for that period and comply with UK GAAP and the Companies Act 2006.
In preparing these financial statements the Trustees are required to:-
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select suitable accounting policies and then apply them consistently;
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state whether applicable accounting standards have been followed, subject to any material departures and explained in the financial statements;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safe-guarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
By order of the Board:
2 St Andrews Place Lewes East Sussex BN7 1UP
Mrs C Grieves Company Secretary
Date: 8th May 2025
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INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
I report on the financial statements of the Trust for the year ended 31st August 2024, which are set out on pages 10 to 20.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s financial statements as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). 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 report
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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(2) the financial statements do not accord with those accounting records; or
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(3) the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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(4) the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
V M R Anderson BA(Hons) FCA DChA Chartered Accountant Clark Brownscombe 2 St. Andrews Place Lewes East Sussex BN7 1UP Date: 8th May 2025
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST AUGUST 2024
| Unrestricted | Unrestricted | ||
| Note | Funds | Funds | |
| 2024 | 2023 | ||
| £ | £ | ||
| INCOME | |||
| Investment income | 2 | 153,098 | 161,822 |
| EXPENDITURE ON: | |||
| Charitable activities | 3 | 824,753 | 539,120 |
| (671,655) | (377,298) |
||
| Net gains/(losses) on investments | 542,735 | (139,551) | |
| NET (EXPENDITURE) | (128,920) | (516,849) | |
| Total funds brought forward | 4,972,386 | 5,489,235 | |
| TOTAL FUNDS CARRIED FORWARD | 4,843,466 | 4,972,386 |
All the above amounts relate to continuing activities.
The notes form part of these financial statements
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
BALANCE SHEET AS AT 31ST AUGUST 2024
COMPANY NUMBER 01168472
| Note FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS:Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL NET ASSETS THE FUNDS OF THE CHARITY Revaluation reserve Unrestricted income funds |
£ 1,756 87,071 88,827 (5,916) |
2024 £ - 4,760,555 4,760,555 82,911 4,843,466 334,409 4,509,057 4,843,466 |
2023 £ 819 4,893,422 4,894,241 1,658 87,630 89,288 (11,143) 78,145 4,972,386 (190,217) 5,162,603 4,972,386 |
The Charity is entitled to exemption from audit conferred by Section 477 of the Companies Act 2006 for the year ended 31st August 2024.
The members have not required the Charity to obtain an audit of its financial statements in accordance with Section 476 of the Companies Act 2006.
The trustees confirm that they are responsible for:
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a) ensuring that the Charity keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006,
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b) preparing financial statements which give a true and fair view of the state of the affairs of the Charity as at the end of the financial year and of its results for the financial year in accordance with the requirements of Sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Charity.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved on behalf of the Board of Trustees on 8th May 2025
Mrs V J Henley - Trustee
The notes form part of these financial statements
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
1. ACCOUNTING POLICIES
Basis of Accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102, effective 1st January 2019), hereafter referred to as the Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Fonthill Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Income
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
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Voluntary income received by way of grants, donations and gifts are included in full in the statement of financial activities when receivable. Grants, where entitlement is not conditional on delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these financial statements.
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Investment income is included when receivable.
Legacies
Legacies are recognised as receivable once probate has been granted provided that significant information has been received to enable valuation of the Charity’s entitlement.
Fund accounting
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Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
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Designated funds are unrestricted funds earmarked by the Trustees for the particular purposes.
Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which is relates.
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It also includes those costs associated with meeting the constitutional and statutory requirements of the charity.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
Financial instruments
Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument. Investments are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Statement.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the assets as follows:-
Computer equipment - over three years
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short and medium term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.
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 a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
2. INVESTMENT INCOME
| Unrestricted | Unrestricted | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Income from UK listed investments | 152,902 | 161,822 |
| Interest received | 196 | - |
| 153,098 | 161,822 |
3. EXPENDITURE
Charitable activities:
Grants and project costs Staff costs and consultancy fees Insurance Storage Printing, postage, stationery and telephone Travel Computer expenses and website Bank charges Consultants fees General expenses Depreciation Loss on disposal of fixed assets Governance costs: Accountancy fees Investment managers fees |
2024 Total £ 684,418 94,986 2,778 1,757 1,940 18,482 11,160 524 - 1,855 - 819 5,997 37 824,753 |
2023 Total £ 429,608 90,998 2,239 688 1,643 1,242 3,474 152 100 2,261 733 - 5,982 - 539,120 |
|---|---|---|
Charitable activities represent the charity’s following projects:
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Continuation of the build and local resources element of the overseas programme through direct partnership working.
-
Partnering with local education establishments to enable life changing experiences for UK students.
-
UK Programme. We continued the scope of finding locally based projects to help young people develop their education and learn new skills, always focusing on education opportunities for all.
-
Community Grants Programme. Our support for this programme allowed a very wide range of varied local Sussex projects to deliver community-based education projects.
-
Schools Support Programmes. Funding enabled in-house therapy and counselling delivery and residential outdoor education opportunities for primary school pupils.
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
4. GRANTS AWARDED
| Recipient | Project | £ |
|---|---|---|
| Overseas Programme Awards | ||
| Ocean Stars, Sri Lanka | Pre-school support in Sri Lanka including a residential teacher training weekend and a child development progamme |
17,450 |
| EduSpots, Ghana | Delivery of digital expansion programme across community owned education spaces in rural Ghana |
18,000 |
| Ripple Africa, Malawi | Delivery of Lifeskills Programme and school reading clubs, as well as programme of pre-school maintenance work |
19,897 |
| PEAS, Ghana | Continuation of the programme to enrich basic education standards through school development progammes in Lawra region of Ghana |
29,659 |
| Raising Future, Kenya | Construction of bespoke vocational training centre in Nairobi |
64,000 |
| Lizpal School, Kenya | School improvement programme | 6,000 |
| Excel School, Kenya | School improvement programme | 6,000 |
| Herri Junior School, Kenya |
School improvement programme | 6,000 |
| Recipient | Project | £ |
| UK Programme Awards | ||
| Spear Brighton | Funding to support cohort of young people to complete the award winning Spear Foundation programme |
13,000 |
| Brighton & Hove Community Kitchen |
Delivery of Primary School cooking & nutrition workshops in Brighton & Hove |
24,930 |
| Villiers Park | Future leaders programme to support development of young leadership skills and aspirations in secondary schools in Hastings |
15,900 |
| IntoUniversity | Long-term educational support for pupils in areas of deprivation in Brighton & Hove |
11,000 |
| Change Foundation | Delivery of Rugby4Change programme focused on county lines education through rugby as an engagement tool |
7,365 |
| Russell Martin Foundation | Continuation of the KS2 transition programme with cohort of Brighton & Hove primary and secondary schools; as well as delivery of a sports inclusion programme for SEN pupils at three schools in Brighton |
41,400 |
| Hindleap Warren | Residential activity trips for three schools in areas of high deprivation in Sussex |
38,900 |
| Crew Club | Youth programme delivering health & wellbeing, homework club and Yr6 summer activities programme |
19,892 |
| South Downs National Park Trusts |
Supporting SDNP’s Apprentice Ranger programme and provision of outdoor learning opportunities for school across Sussex |
25,000 |
| Little Green Pig | Delivery of whole-school immersive creative writing & literacy residency, and support for after-school writing club for children in area of disadvantage in Sussex |
22,207 |
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THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
| Table Talk Foundation | Primary school food & hospitality programme incorporating Chef on the Farm farm visits |
20,000 |
|---|---|---|
| Brighton Table Tennis Club |
Table tennis skills development and food/nutrition programme for young people and their families in deprived areas of Brighton & Hove |
10,000 |
| Jamies Farm | Support for three schools to attend award-winning residential farm stays for young people from disadvantaged backgrounds |
20,500 |
| Audio Active | Delivery of Equilizer music producing workshops for young females |
9,884 |
| Team Domenica | Delivery of specialist post-16 education provision for young people with disabilities |
20,000 |
| David Shepherd Wildlife Foundation |
Development of curriculum linked secondary school conservation programme, and library-based conservation activities for young children |
21,315 |
| Tuppeny Barn | Delivery of outdoor focused support programme for young carers |
7,708 |
| BHFP Stanmer Gardens | Year 2 Anniversary Grant for outdoor learning workshops – primary schools and teenage groups |
14,398 |
| Recipient | Project | £ |
| Community Grant Awards | ||
| Old Boat Corner | Workshops for young people in Brighton & Hove on life- learning subjects |
4,578 |
| Hummingbird Refugee Project |
Education and language support for young refugees | 5,000 |
| Saltwater Creations | Art & creative workshops for young people | 2,393 |
| Chichester Children’s Bookfest |
Reading and literary festival for children across Sussex | 4,000 |
| Brownies PGL Trip | Enable young people to attend PGL trip through their Brownie pack group |
2,500 |
| Benfield Primary School | School library furniture and resources | 5,000 |
| Third Space Theatre | Provision of drama workshops with secondary schools across Sussex |
5,000 |
| Tarner Community | Primary to secondary transition support programme | 5,940 |
| Rudyard Kipling Primary School |
Teacher training for forest school delivery and forest school resource provisions |
4,465 |
| Early Childhood Project | Support of toy and book library and delivery of learning through play sessions |
5,000 |
| Friends of Downsview Primary School |
Funding to support SEN pupils access school trips to venues in Sussex |
3,642 |
| Escots Primary School | Provision of resources to develop a ‘Nurture Hub’ at the school |
4,440 |
| The Sanctuary Eastbourne | English language classes for young refugees & asylum seekers in Eastbourne |
3,000 |
| ESTEEM | Support for programme delivering employability skills and training |
5,000 |
| CORE | Delivery of mental health sessions in schools and community educationsettings |
3,810 |
Page: 16
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
| Recipient | Project | £ | |
|---|---|---|---|
| Schools Therapy Support Programme Awards | |||
| The Laurels Primary School |
Funding to deliver school-based counselling and therapy support |
5,040 | |
| Fairlight Primary School | Funding to deliver school-based counselling and therapy support |
6,000 | |
| Carlton Hill Primary School |
Funding to deliver school-based counselling and therapy support |
6,000 | |
| Brunswick Primary School | Funding to deliver school-based counselling and therapy support |
6,000 | |
| St Bartholomews Primary School |
Funding to deliver school-based counselling and therapy support |
6,000 | |
| Woodingdean Primary School |
Funding to deliver school-based counselling and therapy support |
11,365 | |
| St Marks Primary School | Funding to deliver school-based counselling and therapy support |
6,000 | |
| Ore Village Academy | Funding to deliver school-based counselling and therapy support |
6,000 | |
| Recipient | Project | £ | |
| Primary Outdoor Residential Awards | |||
| Fairlight Primary School | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Carlton Hill Primary School |
Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Brunswick Primary School | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Hangleton Primary School | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Glenleigh Primary School | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
7,840 | |
| The Baird Academy | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Hertford Junior School | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Oakwood Academy | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Patcham Primary School | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Kemnel Academy | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Moulsecoomb Primary | Funding to enable Yr 5 or Yr 6 pupils to attend an outdoor activity residential trip |
5,000 | |
| Total | 684,418 |
Page: 17
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
5. STAFF COSTS AND EMOLUMENTS
| 2024 £ Wages and salaries 84,848 Social security costs 4,033 Pension costs 5,874 94,755 Particulars of employees 2024 Number of charitable activities staff 2 The number of employees receiving remuneration in excess of £60,000 p.a. is as follows:- 2024 £60,001 - £65,000 - £65,001 - £70,000 1 |
2023 £ 82,597 3,468 4,923 90,988 2023 2 2023 1 - |
|---|---|
The key management personnel of the company comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel (net of Employers incentive) were £68,194 (2023: £66,576).
6. TANGIBLE FIXED ASSETS
| Plant and | |
|---|---|
| equipment | |
| £ | |
| Cost | |
| At 1st September 2023 | 3,717 |
| Disposals | **(3,717) ** |
| At 31st August 2024 | - |
| Depreciation | |
| At 1st September 2023 | 2,898 |
| On disposals | (2,898) |
| At 31st August 2024 | - |
| NET BOOK VALUE | |
| At 31st August 2024 | - |
| At 31st August 2023 | 819 |
Page: 18
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
7. INVESTMENTS
| Movement in market value 2024 £ Market value at 1st September 2023 4,893,422 Acquisitions at cost 23 Disposals at opening market value (632,916) Net gains/(losses) on revaluations in the year ended 31st August 2024 500,026 Market value at 31st August 2024 4,760,555 Historic value at 31st August 2024 4,426,146 Analysis of investments at 31st August 2024 Total Funds 2024 Listed investments £ Global equities 4,760,555 Assets are held primarily to provide an investment return for the charity. EBTORS 2024 £ Prepayments 1,756 |
2023 £ 5,415,814 - (394,241) (128,151) 4,893,422 5,083,639 Total Funds 2023 £ 4,893,422 2023 £ 1,658 |
|---|---|
8. DEBTORS
Page: 19
THE FONTHILL FOUNDATION (LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024
9. CREDITORS
| Social security and other taxes Accruals |
2024 £ - 5,916 5,916 |
2023 £ 5,455 5,688 11,143 |
|---|---|---|
10. RELATED PARTY TRANSACTIONS
No trustees received remuneration from the charity, nor were they reimbursed for expenditure incurred in the performance of their duties as a trustee. There were no other related party transactions requiring disclosure.
11. TAXATION
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes.
12. COMPANY LIMITED BY GUARANTEE
The company is a registered charity limited by guarantee and having no share capital. Each member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while they are a member, for payment of the debts and liabilities of the company contracted before they cease to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding £5.
Page: 20