The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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).
Trustees Achievements and Performance
In achieving its objectives, the charity is engaged in the following projects in 2023-24 financial year:
Into the Mainstream-ITM (EU funding from Asylum, Migration, Integration Fund)
This 3-year grant funded from EU-AMIF, from October 2019- December 2022, was extended for a further 12 months to December 2023 to work mainly with Ukrainians. ITM provides tailored integration and employment training to support to potentially economically active third country nationals. Delivery is across West Yorkshire and Greater Manchester at partner/grass roots community organisation venues. This contract ended on 31/12/2023.
Pathways to Integration-PTI (EU funding from Asylum, Migration, Integration Fund)
This 2-years grant funded from EU-AMIF started on 1 September 2020 until 31 December 2022, was extended for a further 12 months until end of December 2023 to provide tailored integration and integration training to support third country nationals including Afghans and Ukrainians. The programme of activities includes IAG, ESOL and Integration Seminars. This contract ended on 31/12/2023.
The Yorkshire Asian Young Achievers Awards (YAYAs)
These awards were first launched in November 2020, supported by York St John University and many other sponsors, to mark QED Foundation’s 30 years. The awards were continued in 2021,2022 and 2023 (November). The next event is planned for 2025.
IT Essentials
This three-year project with Santander Foundation to deliver 15 x 10-week IT, digital and financial inclusion and confidence building courses for 180 disadvantaged ethnic minority adults in Bradford District. Leads to an externally accredited Gateway Qualification in Essential Digital Skills at Entry Level 3 or Level 1. Funding covers the purchase of computers to create a new computer suite at QED.
Bridging the Gap
ESOL provision at pre-entry and entry level 1 delivered through trained volunteers. Part of the ESOL partnership consortium with QED, Meridian, Safety First and Women zone, led by Shipley College. Delivery per year is for 150 beneficiaries in 10 classes, with integration activities, IAG and digital skills.
Lloyds Bank Foundation
A two-year core funding of £50,000 is provided by this charitable foundation from January 2021. The funding ended in December 2023.
Pathways to Integration & Health (PTIH)
Funded by Bradford Council, this project delivers tailor-made integration, health, wellbeing and ESOL training and support to economically inactive people who are currently claiming asylum in Bradford District.
They will benefit from individual information, advice & guidance (IAG), a bespoke health, wellbeing, ESOL and orientation course, vocational training support and trips to cultural and heritage places to learn more about the Bradford area.
Breaking Barriers
This project is funded for three years by Community Grants funds of Lottery. Breaking Barriers supports disadvantaged ethnic minority communities with recovery from COVID with ESOL with a focus on cost of living crisis through strengthening digital capability and building financial resilience.
Job Steps
Funded through Groundwork this project directly benefits ethnic minority women (mainly of Pakistani and Bangladeshi heritage), who are looking to gain more knowledge about employment in the UK. Courses will address their multiple barriers to employment, including IT support and online job search, disengagement from essential services and also supports and addresses poor mental health and low English skills.
Multiply for Business
QED is working in partnership with Realise Training to supports the government ‘s Multiply campaign to promote numeracy skills to people working with businesses in West Yorkshire. We focus on small employers, charities, community and voluntary organisations. The project started in October 2023 and runs until March 2025 funded by West Yorkshire Combined Authority.
Home Office English Language Tests Preparation Courses
We introduced these courses (A1, B1 and Life in the UK) for which we charge people. We expect this to grow.
SELT Test Centre
We are also the Secure English Language Tests (SELTS) Centre for LanguagCert (part of PeopleCert).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of QED Foundation Ltd (the charity) for the year ended 31 March 2024.
As the trustees of the charity (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 charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACA, which is one of the listed bodies.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements 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
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 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
QED Foundation Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Quest House, 38 Vicar Lane, Bradford, BD1 5LD.
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Raising funds
Staff training
Property repairs
Telephone, IT and website
Postage and stationery
Sundries
Travel and subsistence
Associates
Accountancy
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The long-term loans are secured by fixed charges over 5 years.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2023 - none).