HYPERCHARGED FOUNDATION
To advance such charitable purposes (according to the law of England and Wales) for the public benefit as the trustees see fit, in rural areas of the East of England by providing grants to individuals and/or charities or other organisations. Grants can be applied for via the Hypercharged Foundation web site.
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves stood at £172,466 at year-end, with a stated policy that holding reserves is not deemed necessary. However, the trustees note a material uncertainty regarding future funding, as the primary donor has paused contributions pending a merger, though reserves are considered sufficient for two years of operations.
What the accounts disclose
“The principal source of funds for the Charity is donations from County Broadband Ltd and its key suppliers and partners, which totalled £78,056 for 2024” — page 5
“The Trustees understand that the merger between County Broadband and Truespeed is still ongoing. Whilst this process is ongoing, the Board of County Broadband decided to pause the contributions they make to the Hypercharged Foundation. This will not impact the immediate viability of the Hypercharged Foundation since it has sufficient funds available to allocate to projects and continue to operate for some 2 years on the reserves already accumulated.” — page 5
“During the period, the charity received donations from County Broadband Limited totalling £67,696 (2023: £56,628) and has been included in the financial statements under Income from Donations & Legacies. As at the year end the charity was owed £182,285 (2023: £182,845) by County Broadband Limited, this is held as a debtor at year end.” — page 15
Trustees
- Jaeson Bennett
- LLOYD IAN FELTON
- Melanie Davies
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £78k | £80k |
| 31/12/2023 | £130k | £12k |
| 31/12/2022 | £77k | £21k |
Common questions
Is HYPERCHARGED FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted reserves stood at £172,466 at year-end, with a stated policy that holding reserves is not deemed necessary. However, the trustees note a material uncertainty regarding future funding, as the primary donor has paused contributions pending a merger, though reserves are considered sufficient for two years of operations. Its FY2024 accounts were independently examined.