THE COMPASS FOR LIFE FOUNDATION
The objects of the Foundation are to enable children and young people to find their power of purpose by giving them the strategic skills, values and confidence to achieve their aspirations and in particular give children from disadvantaged backgrounds the same chance to fulfill their dreams as those from the most privileged.
Financial health, per its FY2024 accounts
The accounts state that the charity generated £50,609 in income against £28,211 in expenditure, resulting in a net surplus for the year. Free/unrestricted reserves stood at £22,424 at year-end, which the trustees consider sufficient to meet commitments and ensure continued viability. The charity relies on donations and school fees, with income variability identified as a major financial risk.
What the accounts disclose
“The trustees ensure that year end reserves are sufficient to meet the commitments of the Foundation over the next financial year to ensure its continued viability, its stakeholders are protected and interruptions to activities towards the overall objectives are avoided.” — page 4
Trustees
- Amanda Gourbault
- Rebecca Anne Short
- Roger Charles Lewis
- Spencer John
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £51k | £28k |
| 31/12/2023 | £5k | £16k |
| 31/12/2022 | £2k | £7k |
| 31/12/2021 | £14k | £41k |
| 31/03/2021 | £89k | £93k |
Common questions
Is THE COMPASS FOR LIFE FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that the charity generated £50,609 in income against £28,211 in expenditure, resulting in a net surplus for the year. Free/unrestricted reserves stood at £22,424 at year-end, which the trustees consider sufficient to meet commitments and ensure continued viability. The charity relies on donations and school fees, with income variability identified as a major financial risk. Its FY2024 accounts were independently examined.