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MAGNIFY FOUNDATION

Registered charity 1194854 · accounts filings on the Charity Commission register · listed website unreachable when last crawled

Latest income
£299k
Latest spending
£439k
Registered
2021
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that unrestricted funds decreased from £362,702 to £301,503 due to charitable grants exceeding incoming resources. The trustees report that the charity's model of giving aims for a two-year turnaround of funds, with unrestricted cash reserves held at £119,268, which exceeds the stated minimum liquidity reserve of £3,000.

What the accounts disclose

Reserves policy: minimum cash reserve of £3,000 (held: £302k)
“As a grant-making foundation, the Charity does not aim to retain reserves other than a minimum cash reserve of £3,000 to ensure the Charity has sufficient liquidity to meet any short-term operating requirements.” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Donations received from DCMS Holdings Limited, a company in which B J Collins and N J Davis are directors.
“During the year, the Charity received donations from DCMS Holdings Limited, a company in which B J Collins and N J Davis are directors. The amount received during the period was £100,000 (2023: £273,000). During the year, the Charity received donations from Ineversley Limited, a company in which B J Collins and N J Davis are directors. The amount received during the period was £nil (2023: £1,560).” — page 17
Per its FY2024 accounts as filed with the Charity Commission.

Accounts independently examined (not a full audit).

Structured financials (annual return, FY ending 31/12/2021)

Total income
£604k
Total spending
£130k
Reserves (reported)
£475k
Employees
0

Reported reserves equal ~44.0 months of spending — in the top quarter for charities its size (median 7.0 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Throughout England And Wales

Income and spending

Financial year endIncomeSpending
31/12/2024£299k£439k
31/12/2023£375k£295k
31/12/2022£232k£450k
31/12/2021£604k£130k

Common questions

Is MAGNIFY FOUNDATION financially healthy?

The accounts state that unrestricted funds decreased from £362,702 to £301,503 due to charitable grants exceeding incoming resources. The trustees report that the charity's model of giving aims for a two-year turnaround of funds, with unrestricted cash reserves held at £119,268, which exceeds the stated minimum liquidity reserve of £3,000. Its FY2024 accounts were independently examined.

Funders of similar charities

Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

FunderSimilar charities fundedAmount to them
THE BISHOP RADFORD TRUST1£2k

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with THE MAGENI TRUST.