The trustees meet periodically to monitor the progress of the content production and consider the outreach of the campaign.

In accordance with the law applicable to charities in England and Wales, FT FLIC’s trustees oversee financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees:

• select suitable accounting policies and then apply them consistently;
• observe the methods and principles in the applicable Charities SORP;
• make judgements and accounting estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The purposes of the charity as set out in its governing document are specifically restricted to the advancement of education and the relief of poverty for the benefit of the public, particularly through the promotion of financial literacy among young people, women and disenfranchised communities.

The main activities in relation to those purposes for the public benefit identified in the accounts consists of the creation of educational content which offers a multi-media introduction course to sound money management.

Independent examination

With the threshold for auditing of UK charities being for those with income of over £1m (and FT FLIC’s income falling below this level) in accordance with the requirements of the Charities Act 2011 (‘the Act’) the charity commissioned an independent examination of our accounts by the chartered accountancy firm, Dixon Wilson.

In carrying out the examination Dixon Wilson followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act, in addition to duly applying the Financial Reporting Council’s revised ethical standards.

The trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011; consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same Act.

Financial review

The trustees consider the current financial position to be satisfactory. There is sufficient cash from individual philanthropy and institutional funding to provide support for their chosen charitable causes. The trust had net assets of £640,393 as of 31 March 2023 (31 March 2022–£376,136), of which £597,176 is attributable to the unrestricted fund (31 March 2022–£376,136) and £43,217 is attributable to the restricted fund (31 March 2022–£nil). This consisted of cash at bank of £690,533 (31 March 2022–£457,065), receivables of £2,000 (31 March 2022–£nil) and payables of £54,758 (31 March 2022–£85,762). In the year to 31 March 2023 the trust had net incoming resources of £221,040 attributable to the unrestricted fund (period 25 May 2021 to 31 March 2022–£376,136) and £43,217 attributable to the restricted fund (period 25 May 2021 to 31 March 2022–£nil).

Funding policy

FT FLIC embraces positive and transparent relationships with supporters and external organisations. We recognise that while seeking funding presents a range of valuable opportunities it also presents risks, and it is therefore necessary to carefully consider all aspects of our relationships with partners.

Our overriding guiding principles are to seek support from and partner with organisations that enable us to achieve the charity’s mission—while protecting our reputation and without compromising our integrity, to ensure that ultimately we are always working in the best interests of our beneficiaries.

The association of FT FLIC with the Financial Times as a highly respected brand and organisation means the most valuable assets we have are our brand and reputation. Protecting these alongside demonstrating our credibility will be the core consideration in our discussions with potential major donors and partners and we are led by Charity Commission guidance on connections with a non-charity.

Charitable aims

As set out in our Governing document lodged with the UK Charity Commission, the objectives of the charity are

‘specifically restricted to the advancement of education and the relief of poverty for the benefit of the public, particularly through the promotion of financial literacy among young people, women and disenfranchised communities.’

Name of organisation:

FT FLIC (Financial Literacy and Inclusion Campaign)

Administrative information

The FT Financial Literacy and Inclusion Campaign is a charity registered with the Charity Commission, registration number 1194590. It is constituted by a trust deed dated 9 April 2021.