REGISTERED COMPANY NUMBER: 04593407 (England and Wales)

REGISTERED CHARITY NUMBER: 1103784

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FOUNDATIONS INDEPENDENT LIVING TRUST

LIMITED

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Statement of Financial Position

7

to

8

Notes to the Financial Statements

9

to

15

TRUSTEES

N Huston

J P Trigg

Ms J Winstanley

S M Wood (resigned 24.10.24)

REGISTERED OFFICE

Colony One Silk Street

Manchester

M4 6LZ

REGISTERED COMPANY NUMBER

04593407 (England and Wales)

REGISTERED CHARITY NUMBER

1103784

INDEPENDENT EXAMINER

Sibbalds Limited

Chartered Accountants and Business Advisers

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

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 2025. 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

The charity's objectives are to help persons in need, particularly the elderly, disabled or unemployed, by providing or assisting in the provision of home improvements and repairs in order for such persons to continue to live independently in their homes.

Funding is provided by several partner donors who either donate or contract with us to provide the grants liaison and allocation to our national network of home improvement agencies (HIAs). The HIAs then provide the grant- funded assistance to vulnerable people in their local area. The services of the Trust are widely advertised both within the HIAs sector and, where appropriate to members of the public to promote equality of access.

Our main beneficiaries are members of the public, who receive funding from Foundations Independent Living Trust following a successful grant application.

Public benefit

We have taken the commission's public benefit guidance into account when making any decision it is relevant to.

ACHIEVEMENTS AND PERFORMANCE

The Board of Trustees continues to meet its twin objectives of (1) improving the capability and capacity of Home Improvement Agencies to deliver services for some of the most vulnerable people in society; and (2) to distribute funds that agencies can use to pay for repairs and adaptations in the homes of their clients.

Our partnership with the Gas Safe Charity has now reached its twelfth year, continuing to provide funding to Home Improvement Agencies for gas safety works in the homes of vulnerable homeowners.

FILT continued to support training for the sector, including a range of e-training courses.

FINANCIAL REVIEW

Financial position

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets, which are the free reserves of the Charity, should be between three and six months of general (unrestricted) operating costs. The Trustees consider that this policy provides sufficient funds to cover management, governance and administration costs to be able to continue the activities of the Charity in the event of a significant drop in funding, or business interruption.

The free reserves of the Charity are as follows:

2025

2024

£

£

Unrestricted funds

55,236

82,476

The level of reserves is monitored and reviewed quarterly by the Board of Trustees.

Investment policy and objectives

Apart from retaining a prudent amount in reserves each year, most of the charitable company's funds are spent in the short term, so there are few funds available for long term investment. The Trustees continue to review the charitable company's investment policy periodically.

Risk management

The Board of Trustees, assisted by the Management Team, is responsible for the management of the risks faced by the Trust. Risks are identified, assessed and controls established throughout the year. A formal review of the charitable company's risk management processes is undertaken on an annual basis and the risk register is reviewed by Trustees quarterly.

The key controls used by the Charity include:

- Formal agendas for the Board of Trustees;

- Detailed terms of reference for the Board of Trustees;

- Comprehensive strategic planning, budgeting and management accounting;

- Established organisational structure and lines of reporting;

- Comprehensive policies to ensure that all insurance risks are covered;

- Formal written policies;

- Clear authorisation and approval levels;

- Vetting procedures are carried out for adults to safeguard the reputation of the Trust and to minimise the risk of inappropriate persons being involved with the Trust in any way.

Through the risk management processes established for the Trust, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately safeguarded against material mismanagement or loss.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Trust governing document is its Memorandum and Articles of Association incorporated on 18th November 2002, as amended on 6th May 2004.

The appointed and elected Trustees of the Charity are legally responsible for the overall management and control of the Trust. They ensure effective implementation of policies and approval of budgets and finalisation of the statutory accounts and Trustees report for approval by the Annual Meeting of the Board of Trustees.

Recruitment and appointment of new trustees

The charitable company's trustees are appointed at the Annual Meeting of the Trust on the basis of the Trust's requirements concerning eligibility, competence, skills and availability. Following the retirement of a previous trustee selective recruitment of additional Trustees will be begun this year. All new Trustees are inducted into the workings of the Charity including policy and operational procedures.

All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Payment of creditors

The company's current policy concerning the payment of trade creditors is to:

- To agree the terms of payment with suppliers when agreeing the terms of each transaction.

- Ensure that suppliers are aware of the terms of payment by inclusion of the terms in contracts,- Pay in accordance with the company's contractual and legal obligations, and/or within 30 days.

Collective Enterprises Ltd

The Trustees are grateful for the benefits in kind afforded by Collective Enterprises Ltd. These are in the form of staffing support where all costs are borne by Collective Enterprises Ltd. Although the majority of the costs relate to wages and travel expenses, administration expenses of the charity are also covered by this benefit in kind. During this financial year the in kind benefit contributed to Foundations Independent Living Trust was £9,884.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Foundations Independent Living Trust Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to independent examiner

Each person who was a Trustee at the time this report was approved confirms that:

- so far as he is aware, there is no relevant information of which the charity's independent examiner is unaware; and

- he has taken all the steps that he ought to have taken as a Trustee in order to make himself aware of any relevant information and to establish that the charity's independent examiner is aware of that information.

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 1 December 2025 and signed on its behalf by:

J P Trigg - Trustee

Independent examiner's report to the trustees of Foundations Independent Living Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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.

Jay Durow FCCA ACA BFP

Sibbalds Limited

Chartered Accountants and Business Advisers

Sixth Floor

Cavendish Building

1 Agard Street

Derby

Derbyshire

DE1 1DZ

23 December 2025

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

as restated

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

-

-

1,177

Charitable activities

4

Independent living assistance

-

329,537

329,537

303,131

Investment income

3

187

-

187

304

Other income

-

-

-

177

Total

187

329,537

329,724

304,789

EXPENDITURE ON

Charitable activities

Independent living assistance

13,909

332,423

346,332

457,208

NET INCOME/(EXPENDITURE)

(13,722

)

(2,886

)

(16,608

)

(152,419

)

Transfers between funds

10

(13,518

)

13,518

-

-

Net movement in funds

(27,240

)

10,632

(16,608

)

(152,419

)

RECONCILIATION OF FUNDS

Total funds brought forward

As previously reported

82,476

79,444

161,920

245,589

Prior year adjustment

7

-

68,750

68,750

137,500

As restated

82,476

148,194

230,670

383,089

TOTAL FUNDS CARRIED FORWARD

55,236

158,826

214,062

230,670

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

as restated

Notes

£

£

£

£

CURRENT ASSETS

Debtors

8

1,012

159,283

160,295

160,339

Cash at bank

59,171

11,654

70,825

87,769

60,183

170,937

231,120

248,108

CREDITORS

Amounts falling due within one year

9

(4,947

)

(12,111

)

(17,058

)

(17,438

)

NET CURRENT ASSETS

55,236

158,826

214,062

230,670

TOTAL ASSETS LESS CURRENT LIABILITIES

55,236

158,826

214,062

230,670

NET ASSETS

55,236

158,826

214,062

230,670

FUNDS

10

Unrestricted funds

55,236

82,476

Restricted funds

158,826

148,194

TOTAL FUNDS

214,062

230,670

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 1 December 2025 and were signed on its behalf by:

J P Trigg - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements 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, as modified by the revaluation of certain assets.

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 charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the

amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of specified services it is deferred until the criteria for income recognition is met.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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.

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.

Creditors

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.

2.	DONATIONS AND LEGACIES

2025

2024

as restated

£

£

Donations and legacies

-

1,177

3.	INVESTMENT INCOME

2025

2024

as restated

£

£

Bank interest receivable

187

304

4.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

as restated

Activity

£

£

Management fee income

Independent living assistance

29,537

28,131

Grants

Independent living assistance

300,000

275,000

329,537

303,131

Grants received, included in the above, are as follows:

2025

2024

as restated

£

£

Gas Safe

300,000

275,000

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

2025

2024

as restated

£

£

Trustees' expenses

400

400

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

as restated

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,177

-

1,177

Charitable activities

Independent living assistance

-

303,131

303,131

Investment income

304

-

304

Other income

177

-

177

Total

1,658

303,131

304,789

EXPENDITURE ON

Charitable activities

Independent living assistance

43,689

413,519

457,208

NET INCOME/(EXPENDITURE)

(42,031

)

(110,388

)

(152,419

)

Transfers between funds

9,542

(9,542

)

-

Net movement in funds

(32,489

)

(119,930

)

(152,419

)

RECONCILIATION OF FUNDS

Total funds brought forward

As previously reported

114,965

130,624

245,589

Prior year adjustment

-

137,500

137,500

As restated

114,965

268,124

383,089

TOTAL FUNDS CARRIED FORWARD

82,476

148,194

230,670

7.	PRIOR YEAR ADJUSTMENT

The comparatives have been restated to adjust for grant income recognised in the incorrect period according to the recognition criteria of the Charity SORP.

This has resulted in a £68,750 reduction to grant income within the statement of financial activities, a £68,750 increase to other debtors in the balance sheet and a £137,500 increase to restricted funds brought forward.

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

84,283

77,189

Other debtors

-

193

Prepayments and accrued income

76,012

82,957

160,295

160,339

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade creditors

-

8,952

VAT

1,545

46

Accruals and deferred income

15,513

8,440

17,058

17,438

10.	MOVEMENT IN FUNDS

Prior

Net

Transfers

year

movement

between

At

At 1.4.24

adjustment

in funds

funds

31.3.25

£

£

£

£

£

Unrestricted funds

General fund

82,476

-

(13,722

)

(13,518

)

55,236

Restricted funds

Gas Safe

65,404

68,750

(500

)

13,518

147,172

Northern Gas Network

14,040

-

(2,386

)

-

11,654

79,444

68,750

(2,886

)

13,518

158,826

TOTAL FUNDS

161,920

68,750

(16,608

)

-

214,062

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

187

(13,909

)

(13,722

)

Restricted funds

Gas Safe

329,537

(330,037

)

(500

)

Northern Gas Network

-

(2,386

)

(2,386

)

329,537

(332,423

)

(2,886

)

TOTAL FUNDS

329,724

(346,332

)

(16,608

)

Comparatives for movement in funds

Prior

Net

Transfers

year

movement

between

At

At 1.4.23

adjustment

in funds

funds

31.3.24

£

£

£

£

£

Unrestricted funds

General fund

114,965

-

(42,031

)

9,542

82,476

Restricted funds

Gas Safe

11,302

137,500

(14,648

)

-

134,154

Northern Gas Network

93,896

-

(79,856

)

-

14,040

Warm and Adapted Homes

25,426

-

(15,884

)

(9,542

)

-

130,624

137,500

(110,388

)

(9,542

)

148,194

TOTAL FUNDS

245,589

137,500

(152,419

)

-

230,670

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

1,658

(43,689

)

(42,031

)

Restricted funds

Gas Safe

303,131

(317,779

)

(14,648

)

Northern Gas Network

-

(79,856

)

(79,856

)

Warm and Adapted Homes

-

(15,884

)

(15,884

)

303,131

(413,519

)

(110,388

)

TOTAL FUNDS

304,789

(457,208

)

(152,419

)

The purpose of the restricted funds are as follows:

Unrestricted funds

These funds are held for meeting the objectives of the charity and to provide reserves for future activities. Subject to charity legislation, they are free from all restrictions on their use.

Gas Safe

A project in conjunction with Gas Safe Charity to tackle the risks presented by boilers and other gas appliances in vulnerable households. The temporary cash deficit was transferred from the general fund.

Northern Gas Network

Providing funding to Home Improvement Agencies to carry out gas safety works in the home of vulnerable homeowners.

Warm and Adapted Homes

A pilot project in St Helens with the British Red Cross to help support vulnerable adults in their own homes.

11.	RELATED PARTY DISCLOSURES

During the year, management and consultancy fees of £14,066 (2024: £28,131) were paid to Astral PS Ltd, a company in which Jonathan Trigg (Trustee) and Paul Smith (Chief Executive) were directors in the year.

During the year, management and consultancy fees of £15,472 (2024: £Nil) were paid to Collective Enterprises Ltd, a company in which Jonathan Trigg (Trustee) and Paul Smith (Chief Executive) were directors in the year.