FOUNDATION FOR FUTURELONDON

Charity number: 1160948
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

Foundation for FutureLondon is an independent charity established by the Mayor of London and the London Legacy Development Corporation (LLDC). Its remit and commitment is to ensure that local communities and the broader public benefit in full from the social and economic value and continue to shape the East Bank's art and culture quarter in the heart of Queen Elizabeth Olympic Park.

Income and expenditure

Data for financial year ending 31 March 2024

Total income:
£2,554,230

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Donations and legacies £2.29m
Charitable activities £0
Other trading activities £208.33k
Investments £52.44k
Other £0

Total expenditure:
£2,604,865

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Raising funds £229.46k
Charitable activities £2.35m
Other £21.27k

£0 investments gains (losses)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

Text alternative for this canvas graphic is in the data table below.
Raising funds and other expenditure £250.73k
Charitable expenditure £2.35m

People

7 Employee(s)

9 Trustee(s)

Employees with total benefits over £60,000

Number of employees
£60k to £70k 1
£70k to £80k 1
£80k to £90k 1
£110k to £120k 1

Fundraising

No information available

Trading

One or more trustees are also directors of the subsidiaries

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

Main way of carrying out purposes is grant making
What the charity does:
  • General Charitable Purposes
  • Education/training
  • Arts/culture/heritage/science
  • Environment/conservation/heritage
  • Economic/community Development/employment
  • Human Rights/religious Or Racial Harmony/equality Or Diversity
  • Other Charitable Purposes
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
  • Other Charities Or Voluntary Bodies
  • The General Public/mankind
How the charity helps:
  • Makes Grants To Individuals
  • Makes Grants To Organisations
  • Provides Buildings/facilities/open Space
  • Provides Services
  • Other Charitable Activities
Where the charity operates:
  • Throughout London
  • United States

Governance

Registration history:
  • 17 March 2015: Standard registration
  • 03 May 2016: Funds received from 1142684 THE LEGACY LIST
Organisation type:
Charitable company
Other names:

No other names

Company number:
09483822 Open in new window
Gift aid:
Not recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Complaints policy and procedures
  • Conflicting interests
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Serious incident reporting policy and procedures
  • Social media policy and procedures
  • Trustee conflicts of interest policy and procedures
  • Trustee expenses policy and procedures
Land and property:
This charity does not own and/or lease land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

9 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Sir David Charles Maurice Bell Chair 05 July 2018
None on record
Umme Halima Khanom Trustee 27 June 2023
None on record
Sophie Beagles Trustee 27 November 2022
None on record
Charlotte Thomson Trustee 27 November 2022
None on record
SARAH LOCKHART Trustee 12 March 2020
None on record
JOSEPH FRANCIS LYONS Trustee 12 March 2020
None on record
Andrew Adedipe Trustee 12 March 2020
None on record
LOUISE JEFFREYS Trustee 12 March 2020
None on record
Baronness Lola Young Trustee 05 July 2018
None on record

Financial history

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Financial period end date

Income / Expenditure 31/03/2020 31/03/2021 31/03/2022 31/03/2023 31/03/2024
Total gross income £748.15k £812.36k £2.71m £2.84m £2.55m
Total expenditure £635.29k £1.46m £2.85m £3.34m £2.60m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A N/A £250.00k £125.00k £0
Income - Donations and legacies £734.86k £812.16k £76.98k £39.89k £2.29m
Income - Other trading activities £0 £0 £208.33k £208.33k £208.33k
Income - Charitable activities £0 £0 £2.42m £2.58m £0
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £13.29k £205 £158 £16.77k £52.44k
Income - Other £0 £0 £0 £0 £0
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £389.10k £1.28m £2.45m £3.09m £2.35m
Expenditure - Raising funds £246.20k £177.21k £283.23k £234.28k £229.46k
Expenditure - Governance £82.04k £25.08k £0 £48.65k £24.77k
Expenditure - Grants institution £80.05k £823.70k £2.38m £2.55m £1.77m
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £0 £0 £114.59k £19.63k £21.27k

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/03/2020 31/03/2021 31/03/2022 31/03/2023 31/03/2024
Own use assets £0 £0 £0 £0 £0
Long-term investments £1 £1 £0 £0 £0
Other assets £3.79m £2.61m £3.39m £2.81m £2.58m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £1.12m £589.45k £1.53m £1.44m £1.26m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2024 27 January 2025 On time
Accounts and TAR 31 March 2024 27 January 2025 On time Download Open in new window
Annual return 31 March 2023 18 January 2024 On time
Accounts and TAR 31 March 2023 18 January 2024 On time Download Open in new window
Annual return 31 March 2022 30 March 2023 58 days late
Accounts and TAR 31 March 2022 30 March 2023 58 days late Download Open in new window
Annual return 31 March 2021 01 February 2022 1 days late
Accounts and TAR 31 March 2021 01 February 2022 1 days late Download Open in new window
Annual return 31 March 2020 28 January 2021 On time
Accounts and TAR 31 March 2020 28 January 2021 On time Download Open in new window
Submit annual return Open in new window

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

MEMORANDUM AND ARTICLES INCORPORATED 11 MAR 2015

Charitable objects

4 OBJECTS THE CHARITY'S OBJECTS ARE RESTRICTED SPECIFICALLY TO THE FOLLOWING: 4.1 THE PROMOTION FOR THE BENEFIT OF THE PUBLIC OF URBAN OR RURAL REGENERATION IN AREAS OF SOCIAL AND/OR ECONOMIC DEPRIVATION (AND IN PARTICULAR IN THE QUEEN ELIZABETH OLYMPIC PARK AND SURROUNDING AREA) BY ALL OR ANY OF THE FOLLOWING MEANS: 4.1.1 THE ADVANCEMENT OF EDUCATION, TRAINING OR RETRAINING, PARTICULARLY AMONG UNEMPLOYED PEOPLE, AND PROVIDING UNEMPLOYED PEOPLE WITH WORK EXPERIENCE; 4.1.2 THE PROVISION OF RECREATIONAL FACILITIES FOR THE PUBLIC AT LARGE OR THOSE WHO BY REASON OF THEIR YOUTH, AGE, INFIRMITY OR DISABLEMENT, FINANCIAL HARDSHIP OR SOCIAL AND ECONOMIC CIRCUMSTANCES, HAVE NEED OF SUCH FACILITIES; AND 4.1.3 THE PROTECTION OR CONSERVATION OF THE ENVIRONMENT. 4.2 TO ADVANCE FOR THE PUBLIC BENEFIT THE ARTS, CULTURE, HERITAGE OR SCIENCE. 4.3 TO PROMOTE SUSTAINABLE DEVELOPMENT FOR THE BENEFIT OF THE PUBLIC BY: 4.3.1 THE PRESERVATION, CONSERVATION AND THE PROTECTION OF THE ENVIRONMENT AND THE PRUDENT USE OF RESOURCES; AND 4.3.2 THE PROMOTION OF SUSTAINABLE MEANS OF ACHIEVING ECONOMIC GROWTH AND REGENERATION. 4.4 TO PROMOTE SOCIAL INCLUSION FOR THE PUBLIC BENEFIT, PARTICULARLY BUT NOT EXCLUSIVELY IN THE AREA SURROUNDING THE QUEEN ELIZABETH OLYMPIC PARK, BY PREVENTING PEOPLE FROM BECOMING SOCIALLY EXCLUDED, RELIEVING THE NEEDS OF THOSE PEOPLE WHO ARE SOCIALLY EXCLUDED AND ASSISTING THEM TO INTEGRATE INTO SOCIETY. SOCIALLY EXCLUDED MEANS ?BEING EXCLUDED FROM SOCIETY, OR PART OF SOCIETY, AS A RESULT OF BEING A MEMBER OF A SOCIALLY OR ECONOMICALLY DEPRIVED COMMUNITY?. 4.5 TO DEVELOP THE CAPACITY AND SKILLS OF THE MEMBERS OF THE SOCIALLY AND ECONOMICALLY DISADVANTAGED COMMUNITY OF THE AREA SURROUNDING THE QUEEN ELIZABETH OLYMPIC PARK IN SUCH A WAY THAT THEY ARE BETTER ABLE TO IDENTIFY, AND HELP MEET, THEIR NEEDS AND TO PARTICIPATE MORE FULLY IN SOCIETY FOR THE BENEFIT OF THE PUBLIC. 4.6 TO PROMOTE ACCESS TO AND ENJOYMENT OF THE OPEN SPACE AT THE QUEEN ELIZABETH OLYMPIC PARK AND ITS USE FOR LEISURE SPORT RECREATIONAL AND EDUCATIONAL PURPOSES FOR THE BENEFIT OF LOCAL COMMUNITIES AND THE WIDER PUBLIC. 4.7 ANY OTHER EXCLUSIVELY CHARITABLE OBJECTS AND PURPOSES AS THE DIRECTORS MAY IN THEIR DISCRETION THINK FIT. IN THIS ARTICLE 4 SURROUNDING AREAS MEANS ?THE LONDON BOROUGHS OF HACKNEY NEWHAM TOWER HAMLETS AND WALTHAM FOREST AND THE SURROUNDING AREA? AND SUSTAINABLE DEVELOPMENT MEANS ?DEVELOPMENT WHICH MEETS THE NEEDS OF THE PRESENT WITHOUT COMPROMISING THE ABILITY OF FUTURE GENERATIONS TO MEET THEIR OWN NEEDS?.

Contact information

Address:
Plexal
Here East
14 East Bay Lane
London
Phone:
02032881473
Email:
info@future.london
Website:

https://www.future.london/ Open in new window