IRIS Accounts Production v25.1.0.734 Other Company accounts True false Pounds 1.8.23 31.7.24 31.7.24 FY Mr Stuart Douglas McGreevy Mrs T D G M Castro Neto Fox Mr Simon Andrew Howitt FRS 102 Unaudited Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh108651922023-07-31108651922024-07-31108651922023-08-012024-07-31108651922022-07-31108651922022-08-012023-07-31108651922023-07-3110865192ns0:CharitableCompanyLimitedByGuarantee2023-08-012024-07-3110865192ns15:PoundSterling2023-08-012024-07-3110865192ns0:Trustee12023-08-012024-07-3110865192ns0:Trustee22023-08-012024-07-3110865192ns0:Trustee32023-08-012024-07-3110865192ns11:FRS1022023-08-012024-07-3110865192ns11:AuditExempt-NoAccountantsReport2023-08-012024-07-3110865192ns11:SmallCompaniesRegimeForAccounts2023-08-012024-07-3110865192ns11:FullAccounts2023-08-012024-07-3110865192ns11:CharitiesSORP2023-08-012024-07-3110865192ns16:EnglandWales2023-08-012024-07-3110865192ns11:RegisteredOffice2023-08-012024-07-311086519222023-08-012024-07-311086519232023-08-012024-07-31
REGISTERED COMPANY NUMBER: 10865192 (England and Wales)
REGISTERED CHARITY NUMBER: 1177099
















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

ACUITY PROFESSIONAL FOUNDATION
(A COMPANY LIMITED BY GUARANTEE)

ACUITY PROFESSIONAL FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Statement of Financial Position 4

Notes to the Financial Statements 5 to 7

ACUITY PROFESSIONAL FOUNDATION (REGISTERED NUMBER: 10865192)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024



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 July 2024. 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 Acuity Professional Foundation are to provide relief of poverty, in particular amongst people living in countries who are poor by reason of being unable to earn their living by any means, including but not limited to:-

a) The provision of general and technical advice on the establishment (including the operation) of businesses and other enterprises; and/or
b) The provision of education, training and re-training in the skills required for employment and self-employment; and/or
c) Such other charitable purposes beneficial to the public consistent with the objects above as the trustees shall in their absolute discretion determine (the "objects").

Activities and achievements
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees have also had regard to the Charity Commission’s guidance on public benefit when preparing this report.

STRATEGIC REPORT

Financial review
Key financial performance indicators
The trustees consider the financial position of the charity to be satisfactory. During the year, the charity generated income of £Nil (2023: £Nil) and a deficit of £Nil. Total reserves at the end of the year amounted to £Nil (2023: £Nil).

Reserves policy
It is our policy to maintain sufficient cash reserves to maintain the running of the charity to meet its future obligations.

Vision & Mission Statement
Acuity Professional Foundation's Vision and Mission Statement is to catalyse the creation of jobs and enterprises in developing countries to provide training, coaching and professional skills which when combined will create a sustainable relief from poverty.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing documents, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Acuity Professional Foundation was incorporated as a company (limited by guarantee without share capital) in July 2017 and registered as a charity in February 2018. Its governing documents are the Memorandum and Articles of Association.


ACUITY PROFESSIONAL FOUNDATION (REGISTERED NUMBER: 10865192)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JULY 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Governance and management
The Trustees of Acuity Professional Foundation are normally elected for three years and may stand for re-election at the end of that period. They are all unpaid volunteers and may claim reasonable out of pocket expenses. No Trustee claimed any expenses during the period of this report.

The Trustees are responsible for the governance of Acuity Professional Foundation. They agree the strategic direction for the charity and its major areas of work and help to resolve competing demands which may be placed on the organisation. A minimum of 2 Board of Trustee meetings are held each year.

The day to day management of the charity is carried out by the Management Committee which is made up of the Chief Executive Officer and other Trustees.

To provide a user focus, Acuity Professional Foundation also has a Client Advisory Group made up of the Chief Executive Officer and invited Acuity Professional Foundation service users. This committee meets bi-monthly and its purpose is to give clients the opportunity to be involved on helping Acuity Professional Foundation's services develop.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10865192 (England and Wales)

Registered Charity number
1177099

Registered office
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

Trustees
Mr Stuart Douglas McGreevy
Mrs Teresa Da Gloria Meireles Castro Neto Fox
Mr Simon Andrew Howitt

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 29 April 2025 and signed on the board's behalf by:





Mr Stuart Douglas McGreevy - Trustee

ACUITY PROFESSIONAL FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Total Total
funds funds
Notes £    £   

NET INCOME - -


RECONCILIATION OF FUNDS
Total funds brought forward - -

TOTAL FUNDS CARRIED FORWARD - -

CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.

ACUITY PROFESSIONAL FOUNDATION (REGISTERED NUMBER: 10865192)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Total Total
funds funds
Notes £    £   
NET CURRENT ASSETS - -

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

-

NET ASSETS - -
FUNDS 3
TOTAL FUNDS - -

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 29 April 2025 and were signed on its behalf by:





Mr Stuart Douglas McGreevy - Trustee

ACUITY PROFESSIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. 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 accounts are prepared in sterling which is the functional currency of the company, rounded to nearest pound.

The company was dormant throughout the current year and previous year.

EXEMPTION FROM PREPARING A CASH FLOW STATEMENT
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

The trustees have taken advantage of the exemption of Financial Reporting Standards No 1(revised) from including a cash flow statement in the financial statement on the grounds that the charity is small.

COMPANY STATUS
The company is limited by guarantee. The members are listed in the trustees report.

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.

FINANCIAL INSTRUMENTS
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized in the charity balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets


ACUITY PROFESSIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


1. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.


TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.


3. MOVEMENT IN FUNDS
Net
movement At
At 1.8.23 in funds 31.7.24
£    £    £   
TOTAL FUNDS - - -

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
TOTAL FUNDS - - -

ACUITY PROFESSIONAL FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. MOVEMENT IN FUNDS - continued


4. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2024.