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REGISTERED COMPANY NUMBER: 10688031 (England and Wales)
REGISTERED CHARITY NUMBER: 1175605




















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
10688031 (England and Wales)

Registered Charity number
1175605

Registered office
9 Biscay Drive
Portishead
Bristol
Somerset
BS20 7GY

Trustees
S J Fletcher
F L Ingram
K S Jones
C G J Knights
B P Smith
S D Tymon
E J Amoscato
E A M Gadd (resigned 7.11.22)
D C Wait (resigned 7.11.22)

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 20 September 2023 and signed on its behalf by:





S D Tymon - Trustee

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 17,884 14,663 32,547 28,478

Other trading activities 4 954 - 954 1,941
Total 18,838 14,663 33,501 30,419

EXPENDITURE ON
Raising funds 5 21,533 - 21,533 15,526

Charitable activities 6
Mental health and well being activities 5,938 2,406 8,344 49,829
Total 27,471 2,406 29,877 65,355

NET INCOME/(EXPENDITURE) (8,633 ) 12,257 3,624 (34,936 )


RECONCILIATION OF FUNDS
Total funds brought forward 9,705 (3,877 ) 5,828 40,764

TOTAL FUNDS CARRIED FORWARD 1,072 8,380 9,452 5,828

The 401 Foundation (Registered number: 10688031)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 14 305 829

CURRENT ASSETS
Stocks 15 614 594
Debtors 16 - 237
Cash at bank 9,550 5,818
10,164 6,649

CREDITORS
Amounts falling due within one year 17 (1,017 ) (1,650 )

NET CURRENT ASSETS 9,147 4,999

TOTAL ASSETS LESS CURRENT LIABILITIES 9,452 5,828

NET ASSETS 9,452 5,828
FUNDS 19
Unrestricted funds 1,072 9,705
Restricted funds 8,380 (3,877 )
TOTAL FUNDS 9,452 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 20 September 2023 and were signed on its behalf by:





F L Ingram - Trustee

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 - Straight line over 4 years

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 29,767 25,319
Gift aid 2,780 2,201
Sponsorship - 958
32,547 28,478

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 15,267 13,902
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 -
2,005 -



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 524 525
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 14,000 4,667
Social security costs 712 -
14,712 4,667

The average monthly number of employees during the year was as follows:

2023 2022
CEO 1 1

No employees received emoluments in excess of £60,000.

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 18,912 9,566 28,478

Other trading activities 1,941 - 1,941
Total 20,853 9,566 30,419

EXPENDITURE ON
Raising funds 15,526 - 15,526

Charitable activities
Mental health and well being activities 4,635 45,194 49,829
Total 20,161 45,194 65,355

NET INCOME/(EXPENDITURE) 692 (35,628 ) (34,936 )


RECONCILIATION OF FUNDS
Total funds brought forward 9,013 31,751 40,764

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 2,098
DEPRECIATION
At 1 April 2022 1,269
Charge for year 524
At 31 March 2023 1,793
NET BOOK VALUE
At 31 March 2023 305
At 31 March 2022 829


The 401 Foundation

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

15. STOCKS
2023 2022
£    £   
Stocks 614 594

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 237

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Social security and other taxes 117 -
Accrued expenses 900 1,650
1,017 1,650

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023 2022
Unrestricted Restricted Total Total
fund funds funds funds
£    £    £    £   
Fixed assets 305 - 305 829
Current assets 1,784 8,380 10,164 6,649
Current liabilities (1,017 ) - (1,017 ) (1,650 )
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
(3,877 ) 12,257 - 8,380
TOTAL FUNDS 5,828 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
14,663 (2,406 ) 12,257
TOTAL FUNDS 33,501 (29,877 ) 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.