CARD FACTORY FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that unrestricted reserves stood at £3,679,314, which is well above the stated policy target of £700,000. The charity reported a net income of £1,329,911 for the year, funded entirely by donations from a related party, Card Factory Plc. The trustees confirmed that no material uncertainties exist regarding the charity's ability to continue as a going concern.
What the accounts disclose
“The Reserves Policy was revised and approved by the Board in October 2023, stipulating that the Foundation must maintain unrestricted accessible cash reserves to cover our pledged commitments, uncommitted funds for our grants programs, and 6 months of operating costs and overheads, resulting in the current reserves policy target of £700,000.” — page 5
“The trustees consider Card Factory Plc to be a related party as Card Factory Foundation derives all its income from Card Factory Plc. In the year, Card Factory Foundation received £1,440,898 in donations from Card Factory Plc. At 31st January 2023, £257,221 of donations were outstanding from Card Factory Plc. These were received after the year end.” — page 22
Structured financials (annual return, FY ending 31/01/2025)
Trustees
- Brian Nicholas Waringchair
- Georgia Walsh
- Joanne Thorburn
- SUSAN GLASS
- Stephanie Paula Steele
- Vicky Bramley
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/01/2025 | £1.4m | £484k |
| 31/01/2024 | £1.5m | £201k |
| 31/01/2023 | £1.4m | £110k |
| 31/01/2022 | £1.0m | £300k |
| 31/01/2021 | £711k | £688k |
Common questions
Is CARD FACTORY FOUNDATION financially healthy?
The accounts state that unrestricted reserves stood at £3,679,314, which is well above the stated policy target of £700,000. The charity reported a net income of £1,329,911 for the year, funded entirely by donations from a related party, Card Factory Plc. The trustees confirmed that no material uncertainties exist regarding the charity's ability to continue as a going concern. Its FY2023 accounts were audited by Richard Smedley Limited.