REGISTERED COMPANY NUMBER: 05285840 (England and Wales)

REGISTERED CHARITY NUMBER: 1107662

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FOUNDATION MATTERS

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

to

17

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 December 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 objectives of the Charity are to advance the Christian faith in accordance with its statement of beliefs, advance education in accordance with Christian principles and to relieve persons who are in conditions of need or hardship, or who are aged or sick.

The Charity as detailed in its objectives and aims seeks the advancement of religion and also is involved in the education of children and young people through its involvement in schools and youth work.

The Charity seeks to advance the Christian faith and in accordance with that faith there are no restrictions on its work in terms of sectors of the public or location. In the longer term through the Camp training centre people will come into contact with teaching of Christian principles.

During 2023 the aims and objectives of the charity continued to move forward.

Public benefit

The Trustees confirm that they have paid due regard to Part 1 Section 4 of the Charities Act 2011 and the Charity Commission's guidance on public benefit in deciding what activities the Charity should undertake. In their capacity as trustees, the Trustees confirm that they are of the opinion that all the purposes of the Charity are for the benefit of the public and that they have complied with their duties in that regard.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The trustees have carefully considered the charitiy's activities during the year 2024 and can report that the aims and objectives of the charity have been fulfilled.

The Pine Lake Camp Centre has now been in operation for ten years. During that time thousands of children and young people have attended school residential and holiday camps. Over the past twelve months, a full programme of residential events and holiday camps for children and young people have taken place. There will be more opportunity to expand the residential camp events during the autumn and winter periods when the sports hall is operational.

Activities for adults have included the monthly men's breakfast which are attended by 30-50 men on average. Some provision has also been made for ladies breakfast gatherings. A ladies stand-up paddle boarding event went well and there are plans for more such events in 2025. The adult "Just Looking" courses have been conducted throughout the year. These twelve week courses are designed to introduce the hearers to the Christian faith.

At the end of January, a Life of Jesus Bible Exhibition was provided and taken to Kerala, India, written in the Malayalam language. Instruction and demonstration was given to nationals in its use. Interest has been shown in a Bible Exhibition for the Middle East in Arabic which will be pursued as funds allow possibly in 2025/6. Bible Exhibitions have been held here in the UK, in Yorkshire, Rutland and Leicester.

We continue to produce Bible illustrations for use in children's clubs here in the UK and ministries abroad. Illustrations go into our Bible Exhibition designs, videos and printed materials. Various gospel leaflets have been designed, printed and distributed around the UK.

Stenson Fields Christian Fellowship continues to have a thriving Explorers group on a Friday evening. The Foundation Matters team works with the church and runs assemblies in local schools on a weekly basis. The Christmas assemblies were once again very much appreciated by all the schools in Derby and in Wrose, Bradford.

Progress has been made on the sports hall and another unit for FM staff has been constructed. An experienced outdoors activity coordinator has joined the staff team on a volunteer basis.

The Safeguarding committee met at the beginning of the year to review the policy and training given to all those who are a part of the team either as full-time staff or volunteers. Further meetings have taken place to ensure everything is in order.

FINANCIAL REVIEW

Financial position

Total income for the year amounted to £354,664 compared with £576,022 for the previous year. Total expenditure was £491,243 compared with £1,923,158 for the previous year.

The Charity had a deficit for the year of £136,579 compared with a deficit of £1,347,136 for the previous year. The deficit in 2023 was as a result of a prior year adjustment to depreciate the activity centre and related buildings from the date of the granting a lease to occupy the land on which the buildings were constructed.

Total funds at 31 December 2024 amounted to £2,100,104 of which £358,238 is unrestricted and £1,741,866 is restricted.

RESERVES

The Trustees adhere to the Charity Commission guidance in respect of reserves. It is the trustees' policy to expend unrestricted reserves in the furtherance of the Charity's objectives as there is no requirement to build a surplus.

The Trustees will try to ensure that restricted funds will remain in surplus. In particular the restricted fund in connection with the building of the Camp Training Centre is monitored at all times and funds are not committed unless there is sufficient certainty of receipt of income.

FUTURE PLANS

There is a full programme of school residential camps during school term times and holiday camps for 8-11's and 12's-16's during the school holiday periods. Progress on the sports hall project will move ahead as funds become available. The main building will undergo maintenance work to treat and preserve the external log fabric of the building.

There are needs for more permanent and volunteer staff to expand the camp ministries, and an assistant cook to meet the catering needs is particularly urgent.

The trustees want to register there appreciation of the dedicated staff team and the many volunteers who gave of their time and energies to serve the many children and young people who were able to participate in the camps of 2024. They are also thankful to the numerous supporters of the ministry who pray and give generously enabling the charity to pursue and advance the objectives of the charity. There is an unquantifiable, yet nonetheless significant, benefit to the wellbeing of the children who have spent time at Pine Lake and who have gone away with happy memories of their time there.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Company is a charitable company limited by guarantee. It was incorporated on 12 November 2004 and is governed by its memorandum and articles of association.

Recruitment, appointment, induction and training of new trustees

The Trustees consider on a regular basis, whether additional trustees are required to fulfil specific roles within the Charity. In identifying new trustees consideration is given to their background, relevant professional skills and knowledge of the area in which the Charity operates.

New Trustees receive training from the charity's professional advisors and the existing Trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05285840 (England and Wales)

Registered Charity number

1107662

Registered office

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

Trustees

Mr F Brearley

Mr I Brownlow

Ms G D Lancaster

Mr D Lancaster

Mr P K Riisnaes

Company Secretary

Mr J Hudson

Independent Examiner

Sarah Alexander FCA FCCA

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 27 October 2025 and signed on its behalf by:

Mr J Hudson - Secretary

Independent examiner's report to the trustees of Foundation Matters ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

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.

Sarah Alexander FCA FCCA

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

28 October 2025

2024

2023

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

as restated

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

164,532

124,159

288,691

500,186

Charitable activities

3

Evangelist activities

11,636

-

11,636

1,899

Camp and training

48,988

-

48,988

62,807

Other income

5,349

-

5,349

11,130

Total

230,505

124,159

354,664

576,022

EXPENDITURE ON

Charitable activities

4

Evangelist activities

96,512

289,912

386,424

1,850,088

Camp and training

101,544

-

101,544

73,070

Other

3,275

-

3,275

-

Total

201,331

289,912

491,243

1,923,158

NET INCOME/(EXPENDITURE)

29,174

(165,753

)

(136,579

)

(1,347,136

)

Transfers between funds

13

(25,753

)

25,753

-

-

Net movement in funds

3,421

(140,000

)

(136,579

)

(1,347,136

)

RECONCILIATION OF FUNDS

Total funds brought forward

As previously reported

354,817

3,538,600

3,893,417

3,583,819

Prior year adjustment

9

-

(1,656,734

)

(1,656,734

)

-

As restated

354,817

1,881,866

2,236,683

3,583,819

TOTAL FUNDS CARRIED FORWARD

358,238

1,741,866

2,100,104

2,236,683

2024

2023

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

as restated

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

10

263,098

1,884,763

2,147,861

2,312,556

CURRENT ASSETS

Debtors

11

56,697

-

56,697

54,284

Cash at bank and in hand

138,442

39,386

177,828

139,330

195,139

39,386

234,525

193,614

CREDITORS

Amounts falling due within one year

12

(99,999

)

(182,283

)

(282,282

)

(269,487

)

NET CURRENT ASSETS

95,140

(142,897

)

(47,757

)

(75,873

)

TOTAL ASSETS LESS CURRENT LIABILITIES

358,238

1,741,866

2,100,104

2,236,683

NET ASSETS

358,238

1,741,866

2,100,104

2,236,683

FUNDS

13

Unrestricted funds

358,238

354,817

Restricted funds

1,741,866

1,881,866

TOTAL FUNDS

2,100,104

2,236,683

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 27 October 2025 and were signed on its behalf by:

Mr P K Riisnaes - Trustee

Cash flows from operating activities

Cash generated from operations

1

73,478

248,056

Net cash provided by operating activities

73,478

248,056

Cash flows from investing activities

Purchase of tangible fixed assets

(67,780

)

(233,183

)

Sale of tangible fixed assets

32,800

1,500

Net cash used in investing activities

(34,980

)

(231,683

)

Change in cash and cash equivalents in the reporting period

38,498

16,373

Cash and cash equivalents at the beginning of the reporting period

139,330

122,957

Cash and cash equivalents at the end of the reporting period

177,828

139,330

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

2024

2023

as restated

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(136,579

)

(1,347,136

)

Adjustments for:

Depreciation charges

200,895

1,673,942

Profit on disposal of fixed assets

(1,219

)

(1,500

)

Increase in debtors

(2,414

)

(16,522

)

Increase/(decrease) in creditors

12,795

(60,728

)

Net cash provided by operations

73,478

248,056

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

139,330

38,498

177,828

139,330

38,498

177,828

Total

139,330

38,498

177,828

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.

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.

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.

Allocation and apportionment of costs

Expenditure which does not directly relate to the objects of the Charity is analysed between charitable support costs, governance costs and costs of generating funds. Items which involve more than one cost category are apportioned on a basis consistent with their consumption.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land

-

not provided

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Any costs associated with the construction of the Children's camp are capitalised as they are incurred.

The activity centre and associated buildings are being depreciated over a 25 year period being the term of the lease relating to the land on which they have been constructed.

Expenses over £500 on fixtures & fittings are capitalised.

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.

2.	DONATIONS AND LEGACIES

2024

2023

as restated

£

£

Gifts

234,186

426,735

Legacies

15,016

-

Gift aid

39,489

73,451

288,691

500,186

3.	INCOME FROM CHARITABLE ACTIVITIES

2024

2023

as restated

Activity

£

£

Sale of religious literature

Evangelist activities

11,636

1,899

Camp and training fees

Camp and training

48,988

62,807

60,624

64,706

4.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 5)

Totals

£

£

£

Evangelist activities

143,183

243,241

386,424

Camp and training

18,145

83,399

101,544

161,328

326,640

487,968

5.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

£

£

£

Evangelist activities

232,112

1,041

10,088

243,241

Camp and training

83,399

-

-

83,399

315,511

1,041

10,088

326,640

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

as restated

£

£

Independent examination fees

3,500

5,451

Depreciation - owned assets

200,894

1,673,941

Hire of plant and machinery

458

195

Surplus on disposal of fixed assets

(1,219

)

(1,500

)

7.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

8.	STAFF COSTS

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

2024

2023

as restated

Support staff

1

1

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

9.	PRIOR YEAR ADJUSTMENT

During the year the trustees have considered the appropriateness of the valuation of the activity centre and related buildings situated at Pine Lake.

The land on which the buildings have been constructed and the activities of the charity are carried out is subject to a lease entered into on 7 December 2010 for a 25 year period.

Planning permission and covenants attached to the land prevents the site being used for any other purpose than the current charitable objects.

It has been agreed that the cost of construction of the buildings should be depreciated over the term of the lease and it is considered that a prior year adjustment is required recognising the depreciation charge to 31 December 2023. This adjustment amounts to £1,656,734.

10.	TANGIBLE FIXED ASSETS

Activity

Plant and

Land

centre

machinery

£

£

£

COST

At 1 January 2024

204,029

3,711,520

62,875

Additions

-

18,449

7,160

Disposals

-

-

(16,179

)

At 31 December 2024

204,029

3,729,969

53,856

DEPRECIATION

At 1 January 2024

-

1,656,734

51,758

Charge for year

-

188,472

3,802

Eliminated on disposal

-

-

(14,873

)

At 31 December 2024

-

1,845,206

40,687

NET BOOK VALUE

At 31 December 2024

204,029

1,884,763

13,169

At 31 December 2023

204,029

2,054,786

11,117

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

71,224

41,283

23,692

4,114,623

Additions

-

42,171

-

67,780

Disposals

-

(41,283

)

-

(57,462

)

At 31 December 2024

71,224

42,171

23,692

4,124,941

DEPRECIATION

At 1 January 2024

63,410

11,008

19,157

1,802,067

Charge for year

6,635

211

1,774

200,894

Eliminated on disposal

-

(11,008

)

-

(25,881

)

At 31 December 2024

70,045

211

20,931

1,977,080

NET BOOK VALUE

At 31 December 2024

1,179

41,960

2,761

2,147,861

At 31 December 2023

7,814

30,275

4,535

2,312,556

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

8,292

6,164

Other debtors

-

4,458

Income tax recoverable

35,770

32,052

VAT

5,763

4,926

Prepayments and accrued income

6,872

6,684

56,697

54,284

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

7,840

5,206

Other creditors

80

80

Accruals and deferred income

3,500

3,500

Other loans

270,862

260,701

282,282

269,487

Other loans

Other loans are made up as follows:

2024

2023

£

£

Mr P Dixon

30,000

30,000

Mr J Hudson

88,579

78,418

Mr A Malkin

152,283

152,283

270,862

260,701

The amount disclosed as being due from Mr A Malkin is disputed by the Trustees and negotiations are ongoing with Mr Malkin in relation to this loan balance and certain other matters.

13.	MOVEMENT IN FUNDS

Prior

Net

Transfers

year

movement

between

At

At 1.1.24

adjustment

in funds

funds

31.12.24

£

£

£

£

£

Unrestricted funds

General

354,817

-

29,174

(25,753

)

358,238

Restricted funds

Activity centre

3,534,537

(1,656,734

)

(144,277

)

-

1,733,526

Missionary Fund

3,813

-

(29,566

)

25,753

-

Overseas Bible Exhibition

250

-

8,090

-

8,340

3,538,600

(1,656,734

)

(165,753

)

25,753

1,741,866

TOTAL FUNDS

3,893,417

(1,656,734

)

(136,579

)

-

2,100,104