Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Dominic Mark Malone Elson 13/10/2022 Adrian Meredith Wells 13/10/2022 12 May 2025 Seventythree Foundation is a non-profit organisation that works in partnership with communities in southeast Asia to transform environmental stewardship. 14417541 2024-09-30 14417541 bus:Director1 2024-09-30 14417541 bus:Director2 2024-09-30 14417541 core:CurrentFinancialInstruments 2024-09-30 14417541 core:CurrentFinancialInstruments 2023-09-30 14417541 2023-09-30 14417541 core:RetainedEarningsAccumulatedLosses 2024-09-30 14417541 core:RetainedEarningsAccumulatedLosses 2023-09-30 14417541 2023-10-01 2024-09-30 14417541 bus:FilletedAccounts 2023-10-01 2024-09-30 14417541 bus:SmallEntities 2023-10-01 2024-09-30 14417541 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 14417541 bus:CompanyLimitedByGuarantee 2023-10-01 2024-09-30 14417541 bus:Director1 2023-10-01 2024-09-30 14417541 bus:Director2 2023-10-01 2024-09-30 14417541 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 14417541 (England and Wales)

SEVENTYTHREE FOUNDATION

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

SEVENTYTHREE FOUNDATION

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

SEVENTYTHREE FOUNDATION

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
SEVENTYTHREE FOUNDATION

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Debtors 3 44,103 0
Cash at bank and in hand 141,010 0
185,113 0
Creditors: amounts falling due within one year 4 ( 185,162) 0
Net current liabilities (49) 0
Total assets less current liabilities (49) 0
Net liabilities ( 49) 0
Reserves
Profit and loss account ( 49 ) 0
Total reserves ( 49) 0

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Seventythree Foundation (registered number: 14417541) were approved and authorised for issue by the Board of Directors on 12 May 2025. They were signed on its behalf by:

Dominic Mark Malone Elson
Director
SEVENTYTHREE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
SEVENTYTHREE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Seventythree Foundation (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Verwill Farm Verwill Lane, Combe Martin, Ilfracombe, EX34 0PE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Debtors

2024 2023
£ £
Prepayments 44,103 0

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,613 0
Accruals and deferred income 169,536 0
Taxation and social security 5,342 0
Other creditors 671 0
185,162 0

5. Liability of members

The members of the Seventythree Foundation have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

6. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 427 0