THE MITIE FOUNDATION
Financial health, per its FY2024 accounts
The accounts state that the charity reported a deficit of £57,442 for the year ended 31 March 2024, resulting in unrestricted reserves falling to £24,177 from £81,619 the previous year. The trustees consider the results satisfactory and note that the charity's policy is to hold no reserves as operating costs are covered by Mitie Group plc. The filing confirms there are no material uncertainties affecting the charity's ability to continue as a going concern.
What the accounts disclose
“The Foundation’s policy is to hold no reserves as the operating costs of the Foundation are budgeted within and paid by Mitie.” — page 9
“The Foundation has a related party relationship with Mitie Group Plc ("Mitie") as Mitie has the power to appoint up to three board members to the Foundation. Additionally, seven of the seven (2023: seven of the seven) trustees active in the period to the date of signing the accounts were either employees or directors of Mitie in the year. Mitie are the major funders of Foundation, and the Foundation second their operational staff from Mitie. During the year the Foundation received donations of £nil (2023: £nil) and gifts of services, staff and facilities of £245,037 (2023: £242,935) from Mitie.” — page 20
Trustees
- Ommasalma Shahchair
- Kathryn Elizabeth Dolan
- Mitchell Louise Sims
- Navinder Singh Kalley
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £417k | £368k |
| 31/03/2024 | £316k | £373k |
| 31/03/2023 | £245k | £255k |
| 31/03/2022 | £228k | £174k |
| 31/03/2021 | £160k | £160k |
Common questions
Is THE MITIE FOUNDATION financially healthy?
The accounts state that the charity reported a deficit of £57,442 for the year ended 31 March 2024, resulting in unrestricted reserves falling to £24,177 from £81,619 the previous year. The trustees consider the results satisfactory and note that the charity's policy is to hold no reserves as operating costs are covered by Mitie Group plc. The filing confirms there are no material uncertainties affecting the charity's ability to continue as a going concern. Its FY2024 accounts were independently examined.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| Founders Pledge Ltd | 1 | £7.0m |