REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
The 401 Foundation |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
The 401 Foundation |
The 401 Foundation |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 |
Notes to the Financial Statements | 8 | to | 16 |
The 401 Foundation (Registered number: 10688031) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Objects of the charity; which are for the public benefit, are defined in its memorandum and articles of association and are specifically restricted to the following: |
o To assist in the treatment and care of persons suffering from mental or physical illness of any description or in need of rehabilitation as a result of such illness, by the provision of facilities for treatment, work and recreation. Without prejudice to the generality of the forgoing, the trustees will seek to build self-esteem and confidence in those suffering from mental or physical illness through the provision of assistance to improve the self-development of such persons; |
o Any other charitable purpose which shall be selected by the Trustees in their absolute discretion from time to time. |
We help people empower themselves and their local communities to build confidence, self-esteem and promote positive mental health. We firmly believe everyone has the right to 'find their happy' and aim to provide support, empathy, and care so we can truly make a positive difference. |
Significant activities |
We do / plan to do this by: |
- Providing grants of up to £3000 to small community projects and individuals whose goal matches our purpose. |
- Build an app to ensure everyone can access local mental health support in their area, apply for a grant and donate to support our local community projects |
- Build a 200 strong voluntary ambassador wellness network to raise funds and awareness for The 401 foundation and ensure the sustainability of our charity by 2025 |
- Future development of 401 Wellness Hubs in key cities around the UK |
Over the next ten years we plan to take these actions and build a sustainable charity model that will allow us to hand out £1.5 million in grants annually supporting on average 750 UK based community projects / individuals. |
The 401 Foundation (Registered number: 10688031) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
OBJECTIVES AND ACTIVITIES |
Public benefit |
The 401 Foundation provides grants to fund projects working with people with mental health issues. It looks to support the development of confidence and self esteem in individuals of all ages, from all backgrounds and throughout the UK. |
The 401 Foundation's beneficiaries include the significant number of people who suffer from mental health issues as described above. It is widely recognised that 1 in 4 people suffer from mental health issues of some description and the charity aims to support those people. |
The 401 Foundation's trustees confirm that the activities of the charity are carried out in line with its objectives, for the benefit of the public, and the impact of our work on our beneficiaries is a key criterion when deciding what activities to undertake and how best to achieve those aims. The trustees therefore confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. |
The trustees are pleased to present their sixth annual report together with the consolidated financial statements of The 401 Foundation. |
We are delighted to present this report. The 401 Foundation's commitment to fostering mental well-being through small grants for community projects has created ripples of positive change from humble beginnings. |
At The 401 Foundation, we believe in the inherent strength of communities. This report illuminates our journey as we start to empower local initiatives to create safe havens of support for those navigating the often-challenging terrain of mental health. Our mission is not just about funds; it's about nurturing hope, igniting ideas, and providing a platform for transformation. |
With each grant we make, we set in motion a ripple of inspiration. Every project funded is a stepping stone on the path to fostering a society where mental health is not just acknowledged but cherished. |
This report is a testament to the trust our donors, supporters, and partners place in us. It paints a vivid picture of how their generosity is translated into meaningful impact. |
We acknowledge the challenges we've faced along the way, but it's in these very challenges that we find the fuel for our determination. As we navigate the ever-evolving landscape of mental health, we stand united with a common purpose: to uplift, inspire, and foster change that transcends boundaries. |
To every individual who has played a role in our journey, we extend our deepest gratitude. The beneficiaries who bravely share their stories, the volunteers who lend their time, and the partners who stand by us - you are the foundation upon which our impact is built. |
The 401 Foundation (Registered number: 10688031) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
ACHIEVEMENT AND PERFORMANCE |
Chair's Report |
I have been privileged to continue to serve the Board as its Chair over the last twelve months during which time I am pleased to report continued development of the governance and activities of the Foundation including: |
- Building plans for our new App which will, we believe, be a major asset in improving the nation's mental health by bringing together resources across the UK ensuring the availibility of mental health services are well signposted |
- Continuing our programme of small grants; distributed each quarter and delivering impact in local communities |
- Adding additional skills to the Board of Trustees including adding a member of the supporters group (The 401 Club) to the Board |
- Continued to build our presence at national running events to generate funds including the Great North Run and the Great Bristol Run |
- Developed Charity of the Year Packs for businesses |
I would like to take this opportunity to extend my heartfelt thanks to our exceptional Chief Executive, Mr. Ben Smith. His dedication, tireless work ethic, and visionary leadership have played an integral role in propelling the Foundation's mission forward. His strategic insight and unwavering commitment have not only brought about positive growth but have also inspired all of us involved in this special cause. |
Furthermore, I would like to express my sincere gratitude to the members of our Board, whose collective efforts have been instrumental in the progress of our charity. Through their strategic foresight, collaborative approach, and relentless commitment, they have fostered an environment conducive to the Foundation's development and impact. |
Their support, both for myself and for our Chief Executive, has been a driving force behind our accomplishments. It's through their combined dedication that we have been able to coordinate our efforts, channeling our energies towards the shared goal of making a meaningful difference in the lives of those we aim to serve. Their diverse expertise, unwavering dedication, and camaraderie have not only enriched our endeavours but have also set a remarkable example of effective leadership and teamwork. |
In acknowledging their indispensable contributions, I am reminded of the interconnectedness that underpins our Foundation's success. The dedication of each individual, from the Chief Executive to my colleagues on the Board, serves as a testament to the power of collaboration, innovation, and a shared commitment to the greater good. As we look back on our journey so far, I am inspired by the strides we have taken together and emboldened by the collective spirit that propels us towards an even brighter and more impactful future. |
More information can be found on our website at www.the401foundation.co.uk. |
Shaun Tymon |
FINANCIAL REVIEW |
Financial position |
During the year total income was £33,501 and total expenditure £29,877, a net surplus of £3,624. |
At 31 March 2023 the charity held total funds of £9,452, of which £305 are held as fixed assets and £8,380 held as restricted funds. |
Reserves policy |
The 401 Foundation's reserves policy is to hold two months running costs as unrestricted reserves to protect against a decrease in donations. |
Free reserves at 31 March 2023 are £767. |
Going concern |
The trustees continue to run the charity as a going concern and plans for the coming years include an increase in fundraising to support future projects. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is constituted as a company limited by guarantee and operates under a memorandum and articles of association adopted on 22 March 2017. |
Recruitment and appointment of new trustees |
Trustees are carefully selected to align with the skills sought by the charity. Their appointments are made through a process of application and interview, culminating in a decision by the Board of Trustees. |
The 401 Foundation (Registered number: 10688031) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
James Gare |
Monahans |
Chartered Accountants |
Hermes House |
Fire Fly Avenue |
Swindon |
Wiltshire |
SN2 2GA |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The 401 Foundation |
Independent examiner's report to the trustees of The 401 Foundation ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. |
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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts 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 accounts 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 statement |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts 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 accounts 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 accounts to be reached. |
James Gare |
Monahans |
Chartered Accountants |
Hermes House |
Fire Fly Avenue |
Swindon |
Wiltshire |
SN2 2GA |
10 November 2023 |
The 401 Foundation |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Other trading activities | 4 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | ( |
) |
TOTAL FUNDS CARRIED FORWARD | 5,828 |
The 401 Foundation (Registered number: 10688031) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 14 |
CURRENT ASSETS |
Stocks | 15 |
Debtors | 16 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 17 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 19 |
Unrestricted funds | 9,705 |
Restricted funds | (3,877 | ) |
TOTAL FUNDS | 5,828 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
The 401 Foundation |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | GENERAL INFORMATION |
The 401 Foundation is an incorporated charitable company incorporated in England / Wales . In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is 214 Newfoundland Way Portishead North Somerset BS20 7PT. The nature of the charity's operations and principal activities are given in the Trustees Report. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound. |
Going concern |
The trustees continue to run the charity as a going concern and plans for the coming years include an increase in fundraising to support future projects. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. |
No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees' Annual Report. |
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. |
Interest income is recognised using the effective interest method |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Allocation and apportionment of costs |
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include governance costs, and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities based on the proportion of direct costs. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment | - |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
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. |
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. |
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. |
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. |
3. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Gift aid |
Sponsorship |
4. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Merchandise sales | 954 | 1,941 |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | RAISING FUNDS |
Raising donations and legacies |
2023 | 2022 |
£ | £ |
Fundraising costs | 6,266 | 1,624 |
Support costs |
21,533 | 15,526 |
6. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
(see note | costs (see |
8) | note 9) | Totals |
£ | £ | £ |
Mental health and well being activities | 2,406 | 5,938 | 8,344 |
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2023 | 2022 |
£ | £ |
Virtual School Mission material | - | 45,194 |
8. | GRANTS PAYABLE |
2023 | 2022 |
£ | £ |
Mental health and well being activities | 2,406 | - |
The total grants paid to institutions during the year was as follows: |
2023 | 2022 |
£ | £ |
The Methodist Church Swansea Curcuit | 401 | - |
Independent Arts | 401 | - |
Young Bristol | 401 | - |
St Ives Eco Action | 401 | - |
Closer Communities | 401 | - |
1 grant of £401 was made to an individual. |
9. | SUPPORT COSTS |
Governance |
Management | Finance | costs | Totals |
£ | £ | £ | £ |
Raising donations and legacies | 13,281 | 378 | 1,608 | 15,267 |
Mental health and well being activities | 5,166 | 147 | 625 | 5,938 |
18,447 | 525 | 2,233 | 21,205 |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
9. | SUPPORT COSTS - continued |
Activity | Basis of allocation |
Management | Percentage of staff time |
Finance | Percentage of staff time |
Governance costs | Percentage of staff time |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Mental |
Raising | health |
donations | and well |
and | being | Total | Total |
legacies | activities | activities | activities |
£ | £ | £ | £ |
Wages | 10,080 | 3,920 | 14,000 | 4,667 |
Social security | 513 | 199 | 712 | - |
Insurance | 693 | 270 | 963 | 1,079 |
Administration costs | 534 | 208 | 742 | 809 |
Website, IT and subscriptions | 1,233 | 480 | 1,713 | 1,603 |
Advertising and marketing | 228 | 89 | 317 | 7,632 |
Depreciation of tangible fixed assets | 378 | 147 | 525 | 525 |
Accountancy and legal fees | 1,608 | 625 | 2,233 | 2,222 |
15,267 | 5,938 | 21,205 | 18,537 |
10. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
Independent examination | 1,800 | 1,668 |
11. | TRUSTEES' REMUNERATION AND BENEFITS |
The Trustee, B Smith, is employed by the Charity, as per the Charity's constitution, as Chief Executive Officer and earned gross salary of £14,000 (2022: £4,667). |
There were no other trustees' remuneration or other benefits for the year ended 31 March 2023 nor the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
12. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
14,712 | 4,667 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
CEO |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
12. | STAFF COSTS - continued |
The total amount of employee benefits (salary, employer's national insurance and employers pension contributions) paid to key management personnel and trustees in the year was £14,000 (2022: £4,667). |
13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 9,013 | 31,751 |
TOTAL FUNDS CARRIED FORWARD | 9,705 | (3,877 | ) | 5,828 |
14. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
15. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Social security and other taxes |
Accrued expenses |
18. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 305 | - | 305 | 829 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
1,072 | 8,380 | 9,452 | 5,828 |
19. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 9,705 | (8,633 | ) | - | 1,072 |
Restricted funds |
Grant Pot - Region 1 | 394 | 27 | (421 | ) | - |
Grant Pot - Region 2 | 2,804 | - | (2,804 | ) | - |
Grant Pot - Region 3 | 1,925 | - | (1,925 | ) | - |
Grant Pot - Region 4 | 18 | - | (18 | ) | - |
Grant Pot - Region 5 | - | 25 | (25 | ) | - |
Grant Pot - Region 7 | 1,808 | - | (1,808 | ) | - |
Grant Pot - Region 10 | 1,191 | - | (1,191 | ) | - |
Grant Pot - Region 14 | 38 | - | (38 | ) | - |
Grant Pot - Region 15 | 60 | - | (60 | ) | - |
Grant Pot - Region 16 | 30 | - | (30 | ) | - |
Grant Pot - Discretionary | (12,145 | ) | 11,179 | - | (966 | ) |
Grant Pot - Region A | - | 1,422 | 5,168 | 6,590 |
Grant Pot - Region B | - | (159 | ) | 1,833 | 1,674 |
Grant Pot - Region C | - | (350 | ) | 1,191 | 841 |
Grant Pot - Region D | - | 113 | 128 | 241 |
( |
) | 12,257 |
TOTAL FUNDS | 3,624 | 9,452 |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
19. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 18,838 | (27,471 | ) | (8,633 | ) |
Restricted funds |
Grant Pot - Region 1 | 27 | - | 27 |
Grant Pot - Region 5 | 25 | - | 25 |
Grant Pot - Discretionary | 11,179 | - | 11,179 |
Grant Pot - Region A | 2,224 | (802 | ) | 1,422 |
Grant Pot - Region B | 242 | (401 | ) | (159 | ) |
Grant Pot - Region C | 853 | (1,203 | ) | (350 | ) |
Grant Pot - Region D | 113 | - | 113 |
( |
) | 12,257 |
TOTAL FUNDS | ( |
) | 3,624 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 9,013 | 692 | 9,705 |
Restricted funds |
Grant Pot - Region 1 | 3,570 | (3,176 | ) | 394 |
Grant Pot - Region 2 | 5,175 | (2,371 | ) | 2,804 |
Grant Pot - Region 3 | 2,183 | (258 | ) | 1,925 |
Grant Pot - Region 4 | 1,793 | (1,775 | ) | 18 |
Grant Pot - Region 5 | 10,781 | (10,781 | ) | - |
Grant Pot - Region 6 | 618 | (618 | ) | - |
Grant Pot - Region 7 | 405 | 1,403 | 1,808 |
Grant Pot - Region 8 | 326 | (326 | ) | - |
Grant Pot - Region 9 | 1,666 | (1,666 | ) | - |
Grant Pot - Region 10 | 1,926 | (735 | ) | 1,191 |
Grant Pot - Region 11 | 307 | (307 | ) | - |
Grant Pot - Region 12 | 113 | (113 | ) | - |
Grant Pot - Region 13 | 40 | (40 | ) | - |
Grant Pot - Region 14 | 38 | - | 38 |
Grant Pot - Region 15 | 60 | - | 60 |
Grant Pot - Region 16 | 30 | - | 30 |
Grant Pot - Discretionary | 2,720 | (14,865 | ) | (12,145 | ) |
31,751 | (35,628 | ) | (3,877 | ) |
TOTAL FUNDS | 40,764 | (34,936 | ) | 5,828 |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
19. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 20,853 | (20,161 | ) | 692 |
Restricted funds |
Grant Pot - Region 1 | 2,557 | (5,733 | ) | (3,176 | ) |
Grant Pot - Region 2 | 854 | (3,225 | ) | (2,371 | ) |
Grant Pot - Region 3 | 459 | (717 | ) | (258 | ) |
Grant Pot - Region 4 | 327 | (2,102 | ) | (1,775 | ) |
Grant Pot - Region 5 | 151 | (10,932 | ) | (10,781 | ) |
Grant Pot - Region 6 | 195 | (813 | ) | (618 | ) |
Grant Pot - Region 7 | 1,761 | (358 | ) | 1,403 |
Grant Pot - Region 8 | 66 | (392 | ) | (326 | ) |
Grant Pot - Region 9 | 334 | (2,000 | ) | (1,666 | ) |
Grant Pot - Region 10 | 340 | (1,075 | ) | (735 | ) |
Grant Pot - Region 11 | 32 | (339 | ) | (307 | ) |
Grant Pot - Region 12 | 10 | (123 | ) | (113 | ) |
Grant Pot - Region 13 | - | (40 | ) | (40 | ) |
Grant Pot - Discretionary | 2,480 | (17,345 | ) | (14,865 | ) |
9,566 | (45,194 | ) | (35,628 | ) |
TOTAL FUNDS | 30,419 | (65,355 | ) | (34,936 | ) |
Grant pot Region A (previously regions 1, 2, 3, 4) |
covers the following postcodes: BA, BH, BS, DT, EX, GL. GY, JE, PL, SN, SP, TA, TQ and TR; BN, CT, GU, HP, ME, OX, PO, RG, RH, SL, SO, and TN; BR, CR, DA, E, EC, EN, HA, IG, KT, N, W, RM, SE, SM, SW, TW, UB, W, WC and WD; AL, CB, CM, CO, IP, LU, MK, NN, NR, PE, SG and SS |
Grant pot Region B (previously regions 5, 6, 7, 8) |
covers the following postcodes: |
DE, DN, LE, LN, NG and S; B, CV, DY, ST, TF, WR, WS and WV; HR, LD, NP and SY; CF, LL and SA |
Grant pot Region C (previously regions 9, 10, 11, 12) |
covers the following postcodes: |
BB, BL, CA, CH, CW, FY, L, LA, M, OL, PR, SK, WA and WN; BD, HD, HG, HU, HX, LS, WF and YO; DH, DL, NE, SR and TS; GDD, EH, FK, KY, PH and TD. |
Grant pot Region D (previously regions 13, 14, 15, 16) |
covers the following postcodes: |
DG, G, IM, KA, and ML; AB; HS, IV, KW, PA and ZE; BT |
Grant Pot - Discretionary - Where the Foundation is unable to ascertain the location of the donor, these donations are placed in the discretionary fund and will be used to top up grants out of the other Grant Pots when necessary. |
Funds in deficit |
The Grant Pot -Discretionary was in deficit at 31 March 2023. Income has been received since the year end. |
The 401 Foundation |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
20. | RELATED PARTY DISCLOSURES |
Benjamin Smith, trustee, is also director of The 401 Challenge Ltd (company number 10748477). During the year the charity paid £145 (2022: £1,339) for purchases to The 401 Challenge Ltd. |