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2022-10-31-accounts

WAVE Trust Annual Report and Accounts to 31st October 2022

WAVE Trust

Company Limited by Guarantee

Annual Report

for the year ended 31 October 2022

Registered Charity Number: 1080189 & SC044168

Registered Company Number: 03863110

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WAVE Trust Annual Report and Accounts to 31st October 2022

Contents page
Key activities in 2021/22 3
Goals and Approach 4
Letter from our Chairman 5
Letter from our CEO 6
Our People and Information 7
Report of the Trustees 8
Governance 13
Statement of Trustees’ Responsibilities 15
Structure, Governance and Management 16
Independent Auditor’s Report 17
Statement of Financial Activities 21
Balance Sheet 22
Statement of Cash Flows 23
Accounting policies
 24
Notes to the Financial Statements 26

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WAVE Trust Annual Report and Accounts to 31st October 2022

Key activities in 2021/22

‘ This House notes the work of WAVE Trust and its 70/30 campaign to reduce levels of child abuse, neglect and domestic abuse by 70 per cent by 2030; further notes that over two-thirds of this House have endorsed that campaign, including a majority from all parties; recognises the role that Adverse Childhood Experiences play in the entrenchment of intergenerational health and income inequalities and the loss of over £20 billion per year to the UK economy; welcomes the publication of the Early Years Review; and calls on the Government to adopt a comprehensive early years’ strategy to prevent harm to children before it happens, ensuring that all parents are supported to give children the best possible start in life.’

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WAVE Trust Annual Report and Accounts to 31st October 2022

which we are building on in 2022-23 with further work to advance their commitment to become trauma-informed; similar organisational assessments in Hampshire, Portsmouth, Southampton and the Isle of Wight, covering 18 statutory organisations, and followed by further work in 2022-23 to embed prevention of Adverse Childhood Experiences and traumainformed practice in those four areas; and a wide range of smaller training contracts which reflect recognition of our national expertise as trauma-informed specialists.

Finally, we would like to offer our sincere condolences to the family of our Patron, General the Lord Ramsbotham (GCB, CBE), who sadly passed away in December 2022. Lord Ramsbotham, as the Chief Inspector of Prisons for England and Wales for six years, was a fierce champion of a compassionate approach to prisons, and a great inspiration to us. He was a strong advocate of WAVE’s therapeutic work in the prison system. He is greatly missed.

Goals

Approach to achieving our goals

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WAVE Trust Annual Report and Accounts to 31st October 2022

Letter from our Chairman

It has been a busy year for WAVE as we continue to share the importance of a thorough understanding of the impact of early life trauma on the lives of young people and the adults that they become. The challenges that all organisations faced as a result of the Global Pandemic similarly impacted WAVE. In particular, our finances came under strain, and we had to work hard to diversify our income with a good deal of success with our programme of business development. And, at the same time, we have broadened the scope of what we do.

What we've done:

What we're aiming to do:

Our Founder, George, has made it clear to the Board that during 2023 he wants to begin to wind down his involvement with WAVE - whilst decidedly not exiting altogether. The Board decided to recruit a replacement CEO to allow for a smooth transfer. A CEO was appointed in June 2022. Unfortunately the appointment did not work out and it will be a priority in the coming year to move to a settled management team. George has kindly agreed to act as CEO whilst the Board works through options.

So, after a difficult year caused by the Pandemic, we have begun to re-model how we work whilst maintaining our overall ambition. This has put us in a strong position to build for the future. With careful management of our finances, I look forward to a strong performance in the next twelve months.

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Peter Watt, Chair of Trustees

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WAVE Trust Annual Report and Accounts to 31st October 2022

Letter from our CEO

2021-22 has been a highly successful year for WAVE Trust. We have built up cross-party support for 70/30, in all parts of the United Kingdom, to levels which would have seemed unattainable a few years ago. As I write this letter, in early 2023, we have now exceeded 90% support in the UK Parliament, (100% from MPs in Northern Ireland, Scotland and Wales), and many parties across the UK have committed to 70/30 in election manifestos. The Scottish Government has given us written assurance of their support. This is a milestone in our 27 year history, and in the 14 years since the 70/30 goal was set.

Of course, words do not protect children from abuse, neglect and the pernicious effects of domestic violence. Only appropriate actions will do that. And while that milestone lies some distance ahead of us, we have set out for that goal with the creation in the Scottish Parliament of a Commission of Inquiry into how 70/30 may be delivered in Scotland. The evidence we have been gathering in written and oral submissions has been full of optimism that this goal can be achieved, if and when the political will is there. It is our challenge, along with our impressive array of Commissioners, to amass and present that evidence – including the strong economic evidence that this is not only the right thing to do morally, but also the right thing in terms of pure economics. All our grandmothers knew that prevention is better than cure – we just have to prove that to the policymakers who control the purse strings.

At the same time as we have made great advances on the prevention side of our mission, we have also multiplied dramatically the number of traumatised people benefitting from our work. During the year we trained thousands of staff in addiction, domestic violence and homelessness services, in hospitals, surgeries and GP practices, in early years’ settings, in police, prisons, probation and youth offending teams, in local authorities and social services, schools and universities, to understand trauma, its origins and its impact on the lives of those affected by it, and how to engage with those of their service users affected by trauma. Counting those carrying trauma who will receive more sensitive, compassionate and effective support through our work, the numbers run to tens of thousands.

This has been backed up by our consultancy work, aiding organisations and multi-agency partnerships to move more effectively towards the goal of relationship-based, empathic, traumainformed care. Along with our training, this work to spread trauma-informed practice has been delivered in more than twenty UK local authority areas.

The one disappointment in the year, for me, is that my wish to reduce my time spent on WAVE from six to three days a week did not come to pass. I did, as planned, step down as CEO in mid-2022, and a replacement CEO with impressive credentials took my place. Though he had enormous optimism about his ability to raise significant funds for WAVE, and to grow the charity significantly, the transition from raising new funds as International Director for the Red Cross, and doing the same for a small, strategic, preventive charity, did not prove as feasible as my replacement hoped, and here I am again as CEO. In 2023 we are trying a different approach.

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George Hosking, OBE, Chief Executive Officer

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WAVE Trust Annual Report and Accounts to 31st October 2022

Our People and Information

Patrons

Baroness Hilary Armstrong The Rt Hon Iain Duncan Smith MP Lord Chris Fox Baroness Joan Walmsley General The Lord Ramsbotham GCB, CBE

Board of Trustees

Peter Watt, (Chair) Derrick Anderson CBE Dr Caroline Clark Sue Clifford MBE Nick Essex Colin Sarre Jay Haston

Management

Geoffrey Dennis, CEO (June 2022 to Feb 2023) George Hosking OBE, CEO and Scotland Director (Nov 2021 to May 2022; and from Feb 2023) Anthoulla Koutsoudi, Director of External Relations/Company Secretary Aidan Phillips, Project Manager, Trauma-informed Communities Isobel Dawson, Consultant Project Manager, Police and Criminal Justice

Registered office 60 Park Lane, Croydon, Surrey CR0 1JE. Tel: 020-8688-3773

Scotland office Windyhill Farm, Windyhill Road, Newmilns, East Ayrshire, KA16 9LR. Tel: 01560 322805

Website www.wavetrust.org Email office@wavetrust.org

Registered charity number 1080189 (England and Wales) Registered Scottish charity SC044168 Registered company number 03863110

Independent Auditor Geoffrey Frost BSc (Hons), Blue Spire Limited, Cawley Priory, South Pallant, Chichester, West Sussex, PO19 1SY

Bankers

Barclays Bank PLC, 1 North End, Croydon CR9 1SX

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WAVE Trust Annual Report and Accounts to 31st October 2022

Report of the Trustees

Objectives and Activities

The objects for which the charity is established are for the advancement of public education, in particular by undertaking activities intended (I) to reduce all forms of interpersonal violence, (II) to reduce non-accidental harm to children, (III) to promote the social and emotional development of children and the doing of such things as are incidental or conducive to the attainment of those objectives.

The main activities undertaken by the charity in the year under review in furtherance of its objectives to achieve its aims and for the public benefit are set out below. In selecting and planning these activities, the trustees have had regard to the Charity Commission’s guidance on public benefit.

Highlights of 2021/ 2022

As in the past, we have maintained our two main priorities of 1) seeking to improve outcomes for children at risk, promoting and supporting prevention of harm before it happens, and 2) reduction of disadvantage after harm has taken place.

Prevention of harm before it happens

Reduction of harm after it has taken place

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WAVE Trust Annual Report and Accounts to 31st October 2022

PREVENTION OF HARM BEFORE IT HAPPENS

All-Party Parliamentary Group (APPG) for the Prevention of Childhood Trauma

Between May 2021 and April 2022, we secured 151 signatures from cross-party MPs to make an Early Day Motion submitted by the APPG’s chair, Wera Hobhouse MP, the most popular motion for that Parliamentary session. The EDM (see wording in the ‘Key Activities’ section above) praises support levels for the 70/30 Campaign and calls for a comprehensive Government early years strategy to prevent childhood adversity. Significant credit is due to our 70/30 Campaign Manager Alex Williamson for his crucial efforts in building up this remarkable level of support.

We also secured our best ever attendance, 102 people at a virtual Q&A with Andrea Leadsom MP about her early years review and its next steps, and very good attendance for our event on how to reduce CAMHS waiting lists. After our June 2022 AGM, facing considerable pressure from our fee-earning work, we agreed with the APPG Chair that WAVE would step back from our ‘pro bono’ role as Secretariat and leave the APPG’s future in other hands.

Having set up the group in its first iteration as the APPG for the Prevention of Adverse Childhood Experiences (ACE) in 2018, we’re proud to have engaged dozens of politicians over time, held many meetings on important topics that have reached hundreds of people, sparked many actions that have helped support campaigns and causes that further our aims, and reinforced WAVE’s reputation as a source of sound research in UK politics.

We wish the APPG well moving forwards. We thank the group’s current chair, Wera Hobhouse MP (Liberal Democrat), as well as previous chairs Alex Burghart MP (Conservative) and former MP Paul Williams (Labour), for their leadership and support for the cause over these years.

Camden: Parent-Child Psychological Support (PCPS)

Since late 2019, we have worked closely with the London Borough of Camden to strengthen their already very good early years’ prevention work. We recommended two new programmes which support improved attunement between parents and babies in the first 18 months of babies’ lives. This in turn leads to much higher levels of secure attachment – associated with good relationship skills through life, successful engagement in school and learning, and development of pro-social citizens who contribute to a nation’s wealth and well-being. It also leads to much lower levels of insecure or disorganised attachment, associated with poor lifelong relationship skills, disruptive behaviour in pre-school and school, educational under-performance, higher levels of mental illness, aggression, violence, anti-social behaviour and entry to the criminal justice system.

The two programmes introduced, on our recommendation, were Brazelton, a universal programme to teach new mothers how to recognise and respond to the communications of their babies in the first few weeks after birth, and PCPS.

Parent-Child Psychological Support (PCPS)

PCPS is a universal programme delivered to mother, (and ideally father), and baby between first contact 6 weeks after birth and when the baby is 18 months of age. During this time the mother visits a Health Centre, Children’s Centre or Family Hub when the baby is 6 weeks, and then, together with the baby, at 3, 6, 9, 12, 15 and 18 months of age.

At each visit, child and mother are seen by three professionals (e.g. nurse, health visitor, psychologist, speech and language therapist) who assess the child’s physical, social and emotional development, the infant-caregiver interaction, and the mother’s wellbeing and any need for support. The key element is a video film taken during most visits which captures the mother and child interacting at play. This is then coded to provide specific guidelines to the parent for good quality attunement with their infant. This information is part of a multidimensional assessment that allows very personalised support during each visit, always reflecting the parent’s strengths and what she or he does well, guiding them towards interaction

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beneficial both to their relationship and the child’s development.

In studies in Ireland and Spain, where the programme has been delivered for over 20 years, children show much better physical, social and emotional development, parents experience less stress and the child’s relationship capability at age 15 months shows improvement over the norm. Insecure and disorganised attachment have been half the levels found in most populations. If we can replicate these results in the UK the impact would be stunning, potentially saving thousands of children from lives of disadvantage.

While PCPS has been very popular with local families receiving it, and staff in Camden responsible for its direct delivery have spoken very highly of its benefits to families, echoing the powerful positive feedback from Irish and Spanish PCPS practitioners, there have been some issues arising as some line managers in Camden have struggled with the requirement to integrate fidelity to the way the programme produced its exceptional results in both Spain and Ireland, with some of Camden’s habitual and embedded ways of line management control.

Cross Party Group (CPG) for Prevention and Healing of Adverse Childhood Experiences In three meetings in 2021-22 the CPG was reconstituted; then met to discuss possible topics for future meetings, including trauma-informed prisons and criminal justice, a trauma-informed approach to drugs, looked after children, and prevention; and finally met to endorse the creation of a Commission of Inquiry into how to deliver the 70/30 objective in Scotland. Well-known academics, experts and practitioners were proposed as Commission Members, some of whom appeared and spoke at the meeting, and WAVE was tasked with approaching others to see if they would be happy to take up the baton. Since taking on the role of pro bono support as Secretariat for the Commission, WAVE has stepped down as Secretariat of the CPG.

Scottish Commission of Inquiry into the delivery of 70/30

WAVE Trust created the 70/30 strategy in 2009, with the objective of achieving, at least, a 70% reduction in child physical and emotional abuse, neglect and children witnessing domestic violence, by the year 2030 – ‘70/30’. Experts we consulted at the time believed this was an achievable goal in that timeframe, provided political decision-makers implemented the solutions which would work. The focus of the 70/30 strategy is primary prevention, preventing abuse, neglect and children witnessing domestic violence before it ever happens.

As of 2022, 70/30 had received the support of 128 out of 129 MSPs and of every single MP in Scotland, with the Scottish Government also confirming its support. The question for WAVE was ‘How can we translate this incredible support into actions to ensure that 70/30 becomes a reality in Scotland and inspires other UK nations to follow suit?’. A Scottish Commission of Inquiry was therefore set up in May 2022 to investigate the specific actions which would be necessary to deliver 70/30 in Scotland. WAVE Trust is Secretariat of the Commission, and our CEO and Scotland Director George Hosking is one of the Commissioners.

The Commission’s Chair is Professor Sir Harry Burns, former Chief Medical Officer and British Medical Association President. In 2014, First Minister Nicola Sturgeon presented Sir Harry with a lifetime achievement award for Public Service from the Scottish Government and Parliament.

Sir Harry leads a group of renowned Scottish experts in this endeavour, including retired Directors of Public Health of large NHS Boards, a former Director for Children and Families in the Scottish Government, and well-known academics. Evidence gathering is underway and the Commission’s ideas for moving the 70/30 Initiative forward will be available by the end of 2023.

70/30 Campaign

Our efforts to secure support for a 70% reduction in child maltreatment by 2030 continued to progress. By October 2022, we had secured endorsements from 560 MPs, including all those from Scotland, Wales and Northern Ireland, as well as Scottish MSPs, Welsh AMs and Northern Irish MLAs, plus the support of 7 political parties (Alliance Party in Northern Ireland, Liberal

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WAVE Trust Annual Report and Accounts to 31st October 2022

Democrats across the UK, Plaid Cymru, Scottish Conservatives, Scottish Labour, UK Labour, Welsh Conservatives). We’ve also pursued action at a local level, e.g. working with local councillors in Southampton to see a motion passed in support of 70/30.

We also actively engaged with people through social media. We conducted 15 livestreams on topics including trauma-informed schools and universities, ACEs (physical abuse, emotional neglect, parental separation/divorce, sexual abuse), individual Hearts of ACE member’s stories and more. These livestreams increased ambassador engagement, created awareness of WAVE and the 70/30 Campaign in new groups, and generated useful content for future use. We also expanded our social media presence across Facebook, Twitter, Instagram and LinkedIn.

REDUCTION OF HARM AFTER IT HAS TAKEN PLACE

Association of Directors of Public Health (ADPH)

Following our 2020 project for ADPH, conducting research and producing four briefings on good UK trauma-informed practice in Education, Health, Housing and Police, we continued our support with in-depth case studies alongside the jointly badged WAVE Trust/ADPH report. These documents were launched at a virtual event in December 2021.

Bedford Prison Trauma Training

In January 2022, we were commissioned to deliver 3 sessions of trauma-informed training to prison officers and other staff at Bedford Prison. In May 2022, following the success of this initial training, WAVE was asked to train all staff at the prison on the trauma-informed approach. This larger project has proceeded slowly as staff shortages across the prison service have meant only a limited number of officers could be released for training at any one time.

British Humane Foundation (BHA) and Tom ap Rhys Pryce Memorial Trust (TaRP)

These projects support implementation of Trauma-informed Practice in 2 schools each, BHA in Croydon and TaRP in Ealing and Sutton. Whole-school Trauma-informed training was provided and a series of steering group meetings held with each to identify areas of Trauma-informed Practice where change would be beneficial, using WAVE’s Trauma-informed Schools audit tool. We collaboratively identified tailored solutions and planned implementation. Plans are in place for a third TaRP school, through additional funding raised by WAVE on a matched funding basis.

Bradford Trident-WAVE Resilience (TWR) Project

Following a successful joint bid with Bradford Trident and Better Start Bradford to co-lead this project to spread Trauma-informed training, materials and restorative services across Bradford between 2022 and 2025, the project began in March 2022. Work until October included consultations to establish a baseline measurement for evaluation and understanding of the current training climate; training development informed by this; producing an evaluation framework; staff recruitment; and other preparatory activities. The initial training pilot produced very positive results and we have a capable Project Lead in place to move the project forwards.

Camden Trauma-informed Communities (TiC) Project

This project was set up in 2020 to spread awareness of trauma, resilience and Trauma-informed Practice across Camden, to and via its residents. The model developed into one primarily driven by a network of Trauma-informed Community (TiC) Volunteers. We provided consultancy support to enable creation of resources for volunteers; streamlined the training programme; and established an evaluation process and progress tracking. This came on top of 5 full-day and a series of 2-hour trauma-informed training sessions for Camden’s Integrated Early Years Service.

Devon and Cornwall Police

The purpose of the Devon and Cornwall project was to create a snapshot of the current levels of trauma-informed practice within the police force, followed by co-creating a roadmap to guide the force in becoming a trauma-informed organisation. The initial proposal was to combine top-

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down and bottom-up analyses, using WAVE’s assessment tools for trauma-informed practice. In the event, the force decided only to conduct the top-down analysis, and we then worked with 49 nominated middle managers across all departments and Basic Command Units to complete our in-house Organisational Self-Assessment Tool to measure levels of trauma-informed practice across 16 themes. Data collection ended in October and data analysis in November. WAVE is currently carrying this forward in 2022-23, supporting the force in creation of the roadmap.

Hampshire Office of the Police and Crime Commissioner (OPCC): Trauma-informed Training

After partnering with Hampshire’s OPCC for this successful Home Office bid, we delivered 59 trauma-informed training sessions, mostly full-day courses split into 3.5-hour parts. Content varied according to participants: Mixed Health audiences; Early Years; GPs; Senior Leaders; Trauma-informed Champions; and all other groups, including Youth Offending Teams, Social Care and Probation. We reached 1,816 attendees, exceeding the target set by the OPCC.

Our quantitative evaluation focused on how well trainees understood the core topics and how confident they were with key Trauma-informed practices, with improvements secured across all areas and groups. Qualitative evaluation revealed 281 examples of improved practice, with scores of additional changes interviewees would like to implement in the future. Client feedback post-project commended our professionalism, problem-solving and high-quality service.

Hampshire Office of the Police and Crime Commissioner (OPCC): Conference

Asked by the OPCC to help them in planning and finding high profile speakers for a major conference on Trauma-informed Practice, The Life Journey of Trauma and What Next? , held in Southampton in March, through our international contacts we secured three key speakers. These were Professor Bessel van der Kolk (the world’s leading expert on Trauma and author of ‘ The body keeps the score: Brain, mind, and body in the healing of trauma ’); Laura Porter, who led the implementation of many trauma-informed communities in Washington State over more than 15 years; and Professor Mark Bellis, who conducted the English and Welsh ACE studies. Asked to speak, CEO George Hosking delivered an impassioned address on how Brain Development in the Early Years can shape our world view. George’s presentation can be seen here: https://www.wavetrust.org/video-watch-wave-ceo-george-hosking-discuss-early-years-traumaat-the-hampshire-opcc-trauma-informed-conference-march-2022

Hampshire Office of the Police and Crime Commissioner (OPCC): Delivery plans

The conference was a great success, and WAVE was subsequently commissioned by the OPCC to support 18 statutory agencies in Hampshire, Portsmouth, Southampton and the Isle of Wight to become trauma informed after each signed a Concordat committing to do so. Agencies included adult and children’s services, fire and rescue, OPCC, police, prison, probation and public health. The project involved assessing their current levels of trauma-informed practice, creating an overarching area strategy, and bespoke action plans for each agency. Data was collected to determine what percent of staff in each organisation had previously received training on ACEs or trauma-informed practice. We used WAVE's Organisational Self-Assessment Tool, adapted to different sectors to measure their current level of trauma-informed practice. In 2022-23 WAVE is working with the 18 agencies to support the creation of bespoke trauma-informed and ACEprevention delivery plans, together with an over-arching plan for the four local authority areas.

Leicester City, Leicestershire and Rutland

The statutory services of the local authority areas of Leicester City, Leicestershire and Rutland retained our CEO, George Hosking, in 2021 as their expert advisor on trauma-informed practice for the Strategic Partnership Board of these three areas, which they refer to as LLR. During the year, the pace of this work was delayed by staff departures and changes at the Office of the Police and Crime Commissioner (OPCC) for LLR. As a result, we were diverted to delivering Trauma-informed Prison trainings at HMPs Leicester and Stocken, and consultancy support to the OPCC and East Midlands Probation Service, in addition to the originally planned role as part of the Leadership Group developing trauma-informed practice across LLR.

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WAVE Trust Annual Report and Accounts to 31st October 2022

Tower Hamlets Public Health Trauma-informed Training programme

In late 2021, we were retained by the London Borough of Tower Hamlet’s Public Health Team to deliver 60 Trauma-informed Training sessions, and Trauma-informed Champions training. Our evaluation found improvements across trainees in understanding of trauma, and traumainformed knowledge and skills. Qualitative evaluation found many examples of changes made as a result of the training. Overall we reached 1,467 attendees.

Client feedback on the project referred to our work as being organised, passionate, proactive and professional. All credit to Project Manager Aidan Phillips, who managed client relations, and to Anthoulla Koutsoudi and George Hosking, who delivered the training.

GOVERNANCE AND FINANCE

Governance

Having appointed Peter Watt as a new trustee last year, we were happy when he agreed to take over as Chair for 2021-22, our previous Chair Derrick Anderson CBE remaining as a trustee.

Peter’s Chairmanship oversaw the introduction of a new CEO in Geoffrey Dennis. Geoffrey’s background involved senior roles in large third sector organisations, including as CEO of CARE International UK, Royal National Children’s Foundation and SPANA, and International Director for the British Red Cross, among other positions.

In February 2023, it was decided by the trustees not to continue Geoffrey’s contract, with him leaving post that month. The Trustees and WAVE wish him the best in his future endeavours.

We also added, as a trustee, Jay Haston, as a voice of lived experience. Jay is Chair of our sister organisation Hearts of ACE, and a passionate campaigner for ensuring the next generation of children do not go through the experiences he and others experienced in their childhoods.

WAVE fundraising

In our last annual report, we noted that we had successfully completed our shift from relying on applications to grant-making trusts to bidding for paid projects to deliver consultancy and training. This trend has continued, with some additions:

  1. During his tenure as the charity’s CEO, Geoffrey Dennis focused on targeting the fundraising wings of corporate bodies (e.g. Barclay’s, Société Générale, Lloyd’s) and charitable foundations. He was unfortunately not successful in these endeavours, with projects continuing to be our main source of income.

  2. In Summer 2021, WAVE’s team underwent training in LinkedIn marketing. This led to success in securing the Devon and Cornwall Police project, to presenting at the National Police Chiefs’ Council’s four nations conference, and to making many new connections, including in policing (848); education (640); prisons (113); and a mixture of public health and local authority managers (640).

  3. As we continue to prioritise paid projects and training/consultancy, opportunities open up for repeat business with prior clients, as was achieved following the ADPH and Hampshire OPCC projects detailed earlier in this report.

Paid projects continue to be our main focus for income generation. Trauma-informed Practice is increasingly sought after across the UK, leading to many more opportunities than were present years ago; but diversification of income streams continues to be a goal.

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WAVE Trust Annual Report and Accounts to 31st October 2022

Financial Review

On a SORP basis, at £547,547, WAVE’s incoming resources were 39% higher than in the previous year; at £530,259 expenditure was 37% higher. The surplus of Income over Expenditure, boosted by a rise in the value of our Johnson & Johnson shares, was £23,509, more than double the figure of the previous year.

Reserves Policy

The charity’s Reserves Policy is to hold unrestricted reserves at 6 months of planned expenditure. At the financial year end, our total funds were £178,996. Unrestricted reserves were £142,718. This represented 22 weeks of planned unrestricted expenditure.

Looking ahead

The report above describes two crucial steps on the journey to our overarching medium-term goal, the reduction of child maltreatment by 70% by the year 2030. One was the strong build-up of cross-party political support in all four jurisdictions of the UK, the goal being backed by the Conservative Party in Scotland and Wales, The Labour Party in Scotland (and almost every UK Shadow Cabinet Minister), the Alliance Party in Northern Ireland, the Welsh Nationalist Party in Wales, the SNP/Green Government in Scotland, and the Liberal Democrat Party across the UK.

A second major step was taken when the Scottish Cross Party Group for the Prevention and Healing of Adverse Childhood Experiences set up a Commission of Inquiry into how to deliver 70/30 in Scotland. Though unfunded, which puts a strain on our finances and resources, this may be the most important work we ever undertake. If we can deliver a credible action plan and gain political follow through, at both local and national level, in Scotland, which is our principal goal for the next two years, we truly believe we can pioneer a breakthrough in policies which will not only reduce social problems such as addiction, anti-social behaviour, criminality, educational failure, homelessness, mental health problems, and all forms of violence including domestic violence, but also improve the nation’s long-term financial strength and stability. As the Christie Commission pointed out in 2011:

‘It is estimated that as much as 40 per cent of all spending on public services is accounted for by interventions that could have been avoided by prioritising a preventative approach.’

In the meantime, we will continue to support those who have already suffered childhood (and later) trauma and harm, through the continuing provision of our high quality, CPDaccredited trauma-informed consultancy and training.

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WAVE Trust Annual Report and Accounts to 31st October 2022

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of WAVE Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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WAVE Trust Annual Report and Accounts to 31st October 2022

Structure, Governance and Management

WAVE Trust is a charity limited by guarantee (registered company number: 03863110), incorporated on 21 October 1999 under a memorandum and articles of association (as amended by special resolutions with the latest dated 15 July 2013). WAVE Trust registered as a charity with the Charity Commission for England and Wales (registered charity number: 1083059) on 31 March 2000, and with the Scottish Charity Regulator (OSCR) (registered charity number: SC044168) on 24 July 2013.

New trustees are appointed to the Board by the existing Trustees when a skills or knowledge gap is identified. New trustees are provided with background to the charity and its activities together with guidance on their responsibilities and any further training considered beneficial to their duties.

The charity is controlled by the Trustees who provide overall stewardship and guidance on governance matters and future activities, while day to day management is delegated to the management team.

Human resources decisions, such as organisation structure and pay of key personnel are determined by the senior management team, and endorsed or amended by the Trustees. The Trustees and management have assessed the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity and its finances. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks. Major risks are reviewed at quarterly meetings of Trustees and management.

This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.

Approved by the Board of Trustees and signed on their behalf

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Caroline Clark, Date 27[th] March 2023, Vice-Chair of Trustees

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WAVE Trust Annual Report and Accounts to 31st October 2022

Independent Auditor’s Report to the Trustees and Members of WAVE Trust

Opinion

We have audited the financial statements of WAVE Trust (the ‘charitable company’) for the year ended 31 October 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance or conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material

17

WAVE Trust Annual Report and Accounts to 31st October 2022

misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and under section 44(1)(c) of the Charities Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements.

18

WAVE Trust Annual Report and Accounts to 31st October 2022

Irregularities, including fraud, are instances of non-compliance with laws and regulations. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

19

WAVE Trust Annual Report and Accounts to 31st October 2022

Use of our report

This report is made solely to the charitable company’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

==> picture [169 x 64] intentionally omitted <==

Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Blue Spire Limited Statutory Auditor

17 April 2023

Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

20

WAVE Trust Annual Report and Accounts to 31st October 2022

Statement of Financial Activities (including income and expenditure account)

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Charitable activities
2
Other trading activities
3
Investments
4
Other income - CJRS claims
Total
EXPENDITURE ON:
Raising funds
5
Charitable activities
6
Total
Net gains/(losses) on investments
Net Income/(expenditure)
Transfers between funds
15
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
15
Total funds carried forward
15		 Unrestricted
Funds
£
253,510
275,472
10,046
487
-
539,515
108,909
402,912
511,821
6,221
33,915
-
33,915
108,803
142,718		 Restricted
Funds
£
-
8,032
-
-
-
8,032
-
18,438
18,438
-
(10,406)
-
(10,406)
46,684
36,278		 2022
Total
Funds
£
253,510
283,504
10,046
487
-
547,547
108,909
421,350
530,259
6,221
23,509
-
23,509
155,487
178,996		 2021
Total
Funds
£
234,628
118,818
1,112
373
39,169
394,099
79,948
307,294
387,242
2,601
9,458
-
9,458
146,029
155,487

The charity has no recognised gains or losses other than those dealt with in the Statement of Financial Activities.

None of the charity's activities were acquired or discontinued during the above financial years.

21

WAVE Trust knual Report andAccounts to 3 Ist October 2022 Balance Sheet as at 31 October 2022 2022 2021 Tnvestments 30.W8 23,787 Dèbtors Cash at bank and iNh¥nd Total cukyent a••ets 12 82,723 IS2 180 214,883 18,012 1380L7 153,029 Ciedil01s'. amounts falling due within one year 13 65,89S 21,329 Net cuThnt assets/Qlabl]Itlesl 148,988 131,700 Net asietsJOlablJldeil 178,996 155,487 36,278 46,e84 FaiTvaLue reserve G•naral funds Is Is 16,919 12S,799 142,718 10,698 98,lOS L08,803 178,996 155.487 For the year ending 31 October 2￿22 the cornpany vrns entitled to exernption trom audit under zection 477 of the Companies Act 2006 Dii•ctors' r•sponsibi]iti•s'. - The mernber3 have Thot required the con4)anyto cblain an audit of its a¢c¥unts foT the yearin question in accordance with section 476: - Th• dirctors thwl•dg• thèir règponsibitsti•s tor complying withtha r4wir0rtk•L￿ ofth•Act vrith r•sp•cL to ￿CoUnting recozds andthepZe￿ati0nofaewvnts. The fin4n¢ial $tatements have been prep4red in a(rordance with the provi8ityns applicable io ￿MpanIe0 ¥ubie¢¢ to the $nRU companiej regime under the Companies Act 2006. ac(>Jmpanyingnotes fonnpart of these financial st4Ltements. Approvodby th• trustoes and sigThod onthgir ￿h3]f. Carc]ine Clark Dtreaor.. ¢ompanyNumbr 3863110 Date 27 m￿th 8023 22

WAVE Trust Annual Report and Accounts to 31st October 2022

Statement of Cash Flows

Statement of Cash Flows
2022 2021
Note £ £ £ £
Net cash flow from operating activities (see below) 13,656 15,618
Cash flow from investing activities
Interest received 487 373
Net cash flow from investing activities 487 373
Net increase/(decrease) in cash and cash equivalents 14,143 15,991
Cash and cash equivalents at 1 November 2021 138,017 122,026
Cash and cash equivalents at 31 October 2022 152,160 138,017
Cash and cash equivalents consist of:
Cash at bank and in hand 152,160 138,017
Cash and cash equivalents at 31 October 2022 152,160 138,017
Reconciliation of net income to net cash flow from operating activities
2022 2021
£ £ £ £
Net income for the year 23,509 9,458
Adjusted for:
Interest and dividends (487) (373)
(Gains)/losses on investments (6,221) (2,601)
Decrease/(increase) in debtors (47,711) 11,524
Increase/(decrease) in creditors 44,566 (2,390)
(9,853) 6,160
13,656 15,618

23

WAVE Trust Annual Report and Accounts to 31st October 2022

Accounting Policies

General information, scope and basis of the financial statements

WAVE Trust is an incorporated charity, limited by guarantee, incorporated in England with the company number 3863110. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information page of these financial statements. The nature of the charity’s operations and principal activities are outlined in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is earned through holding assets for investment purposes such as shares and cash deposits. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the Charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

● Expenditure on raising funds; which includes costs incurred to generate income to support the charity's activities

● Expenditure on charitable activities; which includes direct costs incurred in the furtherance of the charity's objects

Expenditure allocated to governance costs comprises the costs of production of statutory accounts and the accountants’ report, together with any costs associated with trustees’ meetings, legal advice for trustees and costs associated with constitutional and statutory requirements.

Employee benefits

When employees have rendered service to the Charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

24

WAVE Trust Annual Report and Accounts to 31st October 2022

VAT

The Charity registered for VAT with effect from 1 February 2021.

Taxation

The charity is considered to pass the tests set out in sections 466 to 493 Corporation Tax Act 2010 (CTA 2010), as such no income tax is payable on the charity's activities.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

25

WAVE Trust Annual Report and Accounts to 31st October 2022

Notes to the Financial Statements

1. Donations and legacies

1. Donations and legacies
Donations
Donated services
Grants receivable
2. Charitable activities*
Funded charitable activities		 2022
Unrestricted
Restricted
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
7,899
-
7,899
35,557
-
245,611
-
245,611
182,771
-
-
-
-
-
16,300
253,510
-
253,510
218,328
16,300
2022
Unrestricted
Restricted
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
275,472
8,032
283,504
115,550
3,268
275,472
8,032
283,504
115,550
3,268
*Donated services represents the value of services provided to the charity in exces
amounts paid.		 2021
Total
Funds
£
35,557
182,771
16,300
234,628
2021
Total
Funds
£
118,818
s of the
118,818

3. Other trading activities

3. Other trading activities
Income from conferences and events
4. Income from investments
Bank interest
Dividend income		 Unrestricted
Funds
£
10,046
10,046
Unrestricted
Funds
£
129
358
487		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-		 2022
Total
Funds
£
10,046
10,046
2022
Total
Funds
£
129
358
487		 Unrestricted
Funds
£
1,112
1,112
Unrestricted
Funds
£
68
305
373		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-		 2021
Total
Funds
£
1,112
1,112
2021
Total
Funds
£
68
305
373

5. Raising funds

Donated services - staff costs
Salaries and wages
Other costs of raising funds		 Unrestricted
Funds
£
60,776
31,564
16,569
108,909		 Restricted
Funds
£
-
-
-
-		 2022
Total
Funds
£
60,776
31,564
16,569
108,909		 Unrestricted
Funds
£
47,938
23,240
8,770
79,948		 Restricted
Funds
£
-
-
-
-		 2021
Total
Funds
£
47,938
23,240
8,770
79,948

26

WAVE Trust Annual Report and Accounts to 31st October 2022

6. Charitable Activities

6. Charitable Activities
Donated services - staff costs
Salaries and wages
Other costs of charitable activities
Governance costs (see note 7)		 Unrestricted
Funds
£
184,091
129,984
83,551
5,286
402,912		 Restricted
Funds
£
-
18,313
125
-
18,438		 2022
Total
Funds
£
184,091
148,297
83,676
5,286
421,350		 Unrestricted
Funds
£
134,114
106,418
58,212
4,499
303,243		 Restricted
Funds
£
-
2,443
1,608
-
4,051		 2021
Total
Funds
£
134,114
108,861
59,820
4,499
307,294

7. Governance costs

Donated services - staff costs
Salaries and wages
Other costs of governance		 Unrestricted
Funds
£
744
2,292
2,250
5,286		 Restricted
Funds
£
-
-
-
-		 2022
Total
Funds
£
744
2,292
2,250
5,286		 Unrestricted
Funds
£
719
1,530
2,250
4,499		 Restricted
Funds
£
-
-
-
-		 2021
Total
Funds
£
719
1,530
2,250
4,499

8. Auditors' remuneration

8. Auditors' remuneration
2022
Unrestricted
Restricted
Total
Funds
Funds
Funds
£
£
£
Auditors' remuneration - Audit
2,250
-
2,250
Auditors' remuneration - Non audit
2,400
-
2,400
4,650
-
4,650
9. Wages and salary cost
Gross wages
Employer's national insurance costs (net of employer's allowance)
Employer's pension contributions
The average number of employees, calculated on an average headcount basis, was:		 Unrestricted
Funds
£
2,250
1,850
4,100		 Restricted
Funds
£
-
-
-
2022
Total
Funds
£
165,078
16,940
868
182,886
2022
5		 2021
Total
Funds
£
2,250
1,850
4,100
2021
Total
Funds
£
124,753
8,067
807
133,627
2021
5

There are no employees who received total employee benefits (excluding employer pension costs) of more than £60,000

During the year under review the charity's three (2021:two) members of key management personnel received remuneration benefits totalling £126,004 (2021: £72,423) consisting of salaries, employer's national insurance and employer's pension contributions.

Defined contribution pension schemes

The charity contributes to a defined contribution pension scheme on behalf of its employees. The total shown in the note above was the total amount payable in the year under review.

27

WAVE Trust Annual Report and Accounts to 31st October 2022

10. Related party transactions

There were no reimbursements of expenses to trustees in the year under review (2021: none) and no remuneration was paid to trustees in this or the preceding year.

11. Investments - listed investments

11. Investments - listed investments
Market value brought forward
Unrealised gains/(losses)
 2022
Total
Funds
£
23,787
6,221
30,008		 2021
Total
Funds
£
21,186
2,601
23,787

The Trust holds 200 Johnson & Johnson common stock.

12. Debtors

Trade debtors
Accrued income
Rent deposits		 2022
Total
Funds
£
60,721
-
2,002
62,723		 2021
Total
Funds
£
-
13,010
2,002
15,012

13. Creditors: Amounts falling due within one year

Trade creditors
Social security and other taxes
Deferred income (see below)
Other creditors		 2022
Total
Funds
£
1,680
11,124
33,867
19,224
65,895		 2021
Total
Funds
£
1,654
4,534
3,950
11,191
21,329

13a. Analysis of movement in deferred income

Training and visitor projects
Leicester, Leicestershire and Rutland
Devon & Cornwall Police
Camden PC
Bromley School		 Brought
forward
£
3,950
-
-
-
-
3,950		 Released
in year
£
(3,950)
-
-
-
-
(3,950)		 Deferred
in year
£
-
8,700
11,637
8,530
5,000
33,867		 Carried
forward
£
-
8,700
11,637
8,530
5,000
33,867

The above deferred income arises from the conditions of and the income recognition point not being met at the balance sheet date.

28

WAVE Trust knual Report andAccounts to 31st October 2022 14. Jn•l75tsof n•t assetsbeivrnenlunds 2D22 2021 Trt 23.7 IS2.129 121.179) I84.7¥1 Curreni aJ8ets c￿￿e￿IlLabL)itt 36378 214. I￿.89S) l78.996 <6S.&9S) 142.718 36378 T•t41 fuj brollg]kt Tvt To resources betweejk tsa5ns/(kns) caETled RestsictedrfuTrds 70180Pund Bntigh Humane AoBoaation Torn ap Rhy5 Pryca Foundation L￿Ce￿￿. LeJceBter$bJre Rutiand 81.ISI s.Kso 9.847 31.ISi (s.Kso) (4.736) (9.LY12) 36 78 Unre5tsi¢ledluThJs Fr value reB6Th General Tolalunreilncted tund8 10.898 98.1( 1088 6.yal 539.515 6S9SIS 135.799 142718 547 547 C￿￿[•11¥0- 2021 Tot Total brought fowd zesources betw•tn Gaknsl(loss•s) ¢￿Ti¢d iesoutees expettded RestsiCtedl[￿￿s 70/3QFund Br]tsh Humane ABBooation Torn ap IlhyÈ Pryce Foundatson I￿leeste[. Le]ceVter￿I1e al￿RUtIal 81.IWI 6.3 io.oc 3.268 (6301 (1831 (S.￿8) B.670 9047 Unreslii¢ledluJWs F￿r v8]ue re8eTrE Cenerai fund 8.¢Tr7 2.Wl 874 531 878 781 114862 383 191 1080 Tolalfun<b 146 029 394 099 887 242 ISS 487 Pro]ectto ieduce child maitrealtnentinthe UK by7LWts by2Q30. Bnti8h HuttwieA8llLKiation Apioiect to BuPPOrt￿l￿On achL￿at0 e]nbed trauma4llfoill￿ pTrcbL. TomapRhyo PtythFoundabo Aproitrtt 10 Bupport￿ndon ¥chool¥t¢ tmbod tr￿tta￿¥￿I]I￿d PA¢be8. LeItt￿tr. ￿tee8y8hire and Iknt1￿d Apr¢ierf ats straiegLC ath¥er#i¢ the PolLce andCrI￿ COtYQni89ioJ￿ for I£icegterÈhire on trauma4nforrnedpraeDee D•scrlptknL ￿desIgnated tDnds oerve fundrepresenbng the e￿e￿& otaoBel value ilBcoBt 29

WAVE Trust Annual Report and Accounts to 31st October 2022

16. Fair value reserve

Fair value reserve brought forward
Amount transferred to fair value reserve in year
Fair value reserve carried forward
17. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments
Financial liabilities
Measured at amortised cost:
Trade creditors
Other creditors		 2022
Total
Funds
£
13,299
6,221
19,520
2022
Total
Funds
£
30,008
30,008
1,680
19,224
20,904		 2021
Total
Funds
£
10,698
2,601
13,299
2021
Total
Funds
£
23,787
21,186
1,654
11,191
14,365

The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:

Income and expense
Financial assets measured at fair value through net income/(expenditure)
Dividend income
Net gains and losses (including changes In fair value)
Financial assets measured at fair value through net income/(expenditure)
Unrealised gains/(losses) on investments		 2022
Total
Funds
£
358
358
6,221
6,221		 2021
Total
Funds
£
305
305
2,601
2,601

Fixed asset investments are held at fair value with valuations obtained using closing mid-market price.

30

WAVE Trust Annual Report and Accounts to 31st October 2022

18. Comparative Statement of Financial Activities (including income and expenditure account)

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Charitable activities
2
Other trading activities
3
Investments
4
Other income - CJRS claims
Total
EXPENDITURE ON:
Raising funds
5
Charitable activities
6
Total
Net gains/(losses) on investments
Net Income/(expenditure)
Transfers between funds
15
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
15
Total funds carried forward
15		 Unrestricted
Funds
£
218,328
115,550
1,112
373
39,169
374,531
79,948
303,243
383,191
2,601
(6,059)
-
(6,059)
114,862
108,803		 Restricted
Funds
£
16,300
3,268
-
-
-
19,568
-
4,051
4,051
-
15,517
-
15,517
31,167
46,684		 2021
Total
Funds
£
234,628
118,818
1,112
373
39,169
394,099
79,948
307,294
387,242
2,601
9,458
-
9,458
146,029
155,487

The charity has no recognised gains or losses other than those dealt with in the Statement of Financial Activities.

None of the charity's activities were acquired or discontinued during the above financial years.

31