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← Faithworks Wessex

2024-03-31-accounts

Charity registration number 1108714

Company registration number 05077777 (England and Wales)

FAITHWORKS WESSEX

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4 Brackley Close Bournemouth International Airport Christchurch Dorset BH23 6SE

FAITHWORKS WESSEX

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr B Griffiths Mr C James Rev R Stamp Mr N Stevens Rev S Yetman Rev C Beaumont (Appointed 17 May 2023) Ms L Davies (Appointed 21 June 2023) Charity number 1108714 Company number 05077777 Principal address Heron Court Road Winton Bournemouth Dorset BH9 1DE Registered office Heron Court Road Winton Bournemouth Dorset BH9 1DE Auditor Harrisons Chartered Accountants 4 Brackley Close Bournemouth International Airport Christchurch Dorset BH23 6SE

FAITHWORKS WESSEX

CONTENTS

Page
Trustees' report 1 - 7
Statement of trustees' responsibilities 8
Independent auditor's report 9 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 25

FAITHWORKS WESSEX

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

Our Aims and objectives

Faithworks Wessex (FWW) is a registered charity working across the conurbation of Poole, Bournemouth, Christchurch and the surrounding area.

Our big vision can be described thus: “We want to see an end to homelessness of all sorts, an end to food poverty and an end to loneliness. And specifically, we want every single person locally to be within 15 minutes of a place of welcome that radiates life, community, and immediate help – so that no one need battle hard times on their own.”

We believe that no one should be alone on their journey when life is hard. Faithworks works alongside people, practically building hope and resilience.

So, we are a local Christian charity that works alongside people through times of crisis practically building hope and resilience to deal with times ahead. We run practical projects around food, finance, recovery, homelessness and lone parenting in urban Dorset. We collaborate with partners – councils, other charities and especially local churches – to achieve this three-fold mission:

We want people to stand up and say... “I can do this now.”

As a faith-led organisation, FWW will always seek to act in accordance with our Christian ethos, which includes serving all regardless of their circumstances or beliefs. We are working with many partners, and are particularly successful in inspiring and enabling churches to identify and then meet the needs of their local communities.

This year, the new vision, mission and values were developed into a fresh branding toolkit, which formed the basis of both a new website and a fresh approach to appraisals.

Charitable purposes

The charity’s purposes in the governance documents are:

“The relief of financial hardship, sickness or distress, particularly amongst the elderly, homeless, children and young people in care and those caring for a family member with a physical, mental or sensory disability, by the provision of information, advice and support and to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need for such facilities by reason of their youth, age infirmity of disability, financial hardship or social circumstances with the object of improving their condition of life in particular through facilitating churches and Christians to work for the benefit of their local communities by addressing such issues of disadvantage, social exclusion and other areas of need for the public benefit in such parts of the united kingdom as the directors from time to time may think fit.”

FAITHWORKS WESSEX

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

How our activities deliver public benefit

This report demonstrates the activities that the charity has provided in the past year, and how those have benefited some of the most vulnerable people in our community, thereby demonstrating the “public benefit” of the charity.

Achievements and performance

We impacted the lives of over 7600 people in the past year (with more than 10,000 others indirectly benefiting as family members, volunteers etc.). The need for our support continued to grow as inflation continued high; once again we sought not only to adapt our services to meet this increasing need. And once again, we are hugely grateful to our staff and volunteers for being living examples of life and hope through all this change.

There have been some notable steps forward this year:

A. We opened our first Community Larder (in Blandford)

Initially 30 clients, now serving over 80 with most being referrals on from the foodbank; at least 15 now no longer need this help as they are back on their feet and away from crisis. One “guest” said: “A huge difference, it has helped to afford food, plan for each day and have money to pay off loans.”

B. We developed more friendship support

Thanks to funding from the Lottery, we started a partnership with national charity Safe Families partnership so that our SMILE families could have ongoing volunteer support. The first 4 families are now being supported in this way.

In our homelessness work, we initiated the Safesleep project, whereby people in emergency accommodation not only get given a rucksack with basics to help them cope, but a “Responder” volunteer gives them a welfare call. If they are in this temporary accommodation for any length of time, we are seeking to match them with volunteer “Connectors” who are simply there to offer community support (coffee, go for a walk, help them get to an appointment etc.). The first dozen volunteers have been trained, and first “guests” supported .

Meanwhile, the Christchurch Foodbank+ Community Meal goes from strength to strength; now weekly, there is an average of 60-70 people coming from all walks of life each week.

C. We were the base for the launch of Prince William’s Homewards programme locally

As founder members of the Homelessness Partnership in BCP, we have been working with other partners for over 6 years to reduce homelessness in BCP – our CEO chairs the Partnership Forum and has been a member of the Partnership Board up to this point. The partnership was chosen to be one of 6 areas in the UK to come under the Royal Foundation’s “Homewards” programme. Indeed, Prince William visited Faithworks Carpentry Workshop in Bournemouth as part of his UK tour to launch Homewards; this was the chosen venue for the launch of the BCP programme. That visit led to not only 4 years worth of sandpaper being donated, and the University commissioning pieces of furniture; but a relationship has developed with local high-end boat-builders, Sunseeker, so that our first trainee is on the verge of making it onto their paid apprenticeship programme.

This enabled us to bring more stability to the Arch Training programme, and allowed us to pilot a Barista training programme with a local expert in this field, based in a local church (thus allowing us to also trial a new form of church partnership).

With two key staff leaving, we had to take the difficult decision to end our Recovery work in March 2024.

FAITHWORKS WESSEX

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

D. We further enhanced the support to help keep our staff resilient

Clinical Supervision is now provided for every project – the staff feedback has been excellent (provided by Full Circle Counselling funded by YMCA).

E. We invested in our communications:

We wanted to make a step up in our Social Media work; so we chose to pilot outsourcing the delivery to a local agency called “Vivid”; our reach has significantly increased especially on the back of the Homewards links.

More detail on our achievements, can be found in the 2023 impact report: https://faith-works.org.uk/about-us/ faithworks-impact-report-2023/

Financial review

Faithworks Wessex as a “Going Concern”

Despite financial challenges across the sector, FWW can demonstrate that it has been, and continues to be, managed in a financially sound way:

Reserves Policy

As part of its Christian ethos, Faithworks Wessex (FWW) is committed to an openness and integrity with regard to its finances. Therefore, it seeks to ensure that it works within an appropriate level of financial reserves.

"Reserves" is taken to describe that part of a charity's funds that are freely available to fund its general operations and so is not subject to commitments, planned expenditure or other restrictions. Consequently, Reserves do not include endowment funds, restricted funds and designated funds.

In the Trustees’ view, the reserves should provide the charity with cover for redundancy and payment of its contractual requirements should the charity have to be wound up.

The trustees updated their reserves policy this year recognising that for some projects 2 months cover is sufficient to cover these contractual requirements, but other projects like our foodbanks which have higher personal donations want to have greater cover (3 or even 6 months) to guard against a turn down in donations, and to show that in the monthly reporting so that cash flow forecasts include that figure.

Core reserves continued above the minimum of 3 months. In addition, a target of at least 2 months was set for all project areas but increased to 6 months for all foodbanks. The Hope into Action work has very specific reserves requirements as there are payments to investors to take account of – so a set figure of £15,000 has been set for reserves.

At the end of the year, all foodbanks continued to operate at more than 3 months reserves. All other areas had more than 2 months cover, except HIA which was lower ahead of new Housing Benefit rates that were due to come into use from 1[st] April 2024 and which would boost income by over 20%.

FAITHWORKS WESSEX

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Income & Funding

Total income increased once more by 29% to £1.49m. This came from several areas. The key increase was from core funding grants which increased significantly to £772k (up 49%); this included the second year of 3 years of funding from the Dept of Levelling Up, Housing and Communities specifically targeted at faith charities who have previously run a night shelter and are now developing creative solutions like our Recovery, Training and We-re Here Network (i.e. more on long term support, and less on community shelters).

Individual donations increased to £410k (up 13%), and we saw a small increase in church donations over the last year (although a slight decrease in donations from other businesses). There were no legacies this year.

We are enormously grateful to many foundations and trusts for their confidence in us in this exceptional year, included the following:

included the following:
Night Shelter Transformation Fund (Govt) Homelessness (yr. 2 of 3) £100,000
National Lottery Community Fund SMILE (yr. 1 of 3), Arch £74,748
Charities Trust Wim Cmty Garden, Arch £70,070
National Lottery Cost of Living Fund Essentials, CMA £69,012
Valentine Community Trust FW, SMILE, HIA, PFB, CMA £53,500
Alice Ellen Cooper Dean Charitable Foundation HIA, PFB, SMILE, BFB, CMA £50,000
Dorset Community Foundation All Foodbanks, SMILE, CMA £45,885
Dorset County Council Capital/Revenue Fund BFB/Nourish, Arch £22,985
George Temperance Recovery £18,750
Garfield Weston FW CMA £15,000
Groundwork Foodbanks, Arch £14,000
Britford Bridge Foundation CMA £10,920
Rank Foundation General £10,000
Talbot Village trust PFB £10,000
The Albert Hunt Charitable Trust Homelessness £7,000
Beatrice Laing Trust Recovery £5,000
Blandford Town Council Nourish £5,000
29May1961 Trust Arch £5,000
Help & Care (older people’s work) We’re Here £5,000
St Mary’s Fund SMILE £5,000

… plus, many grants under £5k. In addition, Mazars, Tesco’s and Sainsburys all provided various forms of support. We are grateful for every organisation.

FAITHWORKS WESSEX

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Expenditure

Expenditure increased to £1.4m, an increase of 22% compared to 2022-23.

The main changes in costs this year come from the following areas:

·

Meanwhile other costs significantly reduced:

Motor and travel costs reduced by 30%

Fundraising costs continue to account for much less than 2% of total costs, equally Governance costs are also low at 0.5% of total spend.

Ongoing support costs (i.e.. not including one-off costs such as the website, the changes to Nourish, and specific repairs to buildings) are constantly reviewed to identify alternatives to minimise spend. Support costs to the end of March 2024 were £280k or 20% of total costs.

Overall

There was a surplus of £84k on the year which given the 22% increase in costs was very creditable.

Faithworks’ financial performance continues to be sound. The reputation of the charity means that not only are we recognised as providing a sound professional service and therefore increasingly trusted by individuals and businesses, but also we are being more successful in our funding bids.

However, the trustees also recognise that it also a testimony to God’s grace that the charity continues to have good financial strength in the midst of ongoing challenges.

Risk management

The trustees now receive a risk management report every quarter to give focus to their discussion. As noted above, action has been taken by contracting with WorkNest to provide H&S and risk management expertise to the whole organisation

In addition, FW trustees have identified the following as the most significant risks to the business (the Worknest model of risk assessment is now being used):

FAITHWORKS WESSEX

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods - Aims for forthcoming year (2024 25)

Overall: Celebrate Faithworks 20 years and show determination to continue our mission sustainably into the future

Develop additional ways to build personal resilience, including:

Develop partnerships with churches to enhance spiritual support, including:

·

Continue to develop resilience and connectivity within the team, including:

FAITHWORKS WESSEX TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 3lryGlurn, gov•rn•n¢• and manag•rn•nt The charity is govemed in ac¢ordanc• wilh ils trust deed daled 18 March 2004 arKI am8ndmenls 13 January 2005 and 19 March 2008. The Faithv•orks' trustees has been ènhanced by new arrivals this year.. Rey Chns Beaumont, vicar of Blandford Parish Church. and Llt Davies, CEO of Col￿rWO￿$ Foundation have ioined the tnJstee board. The othèr truslees remained th8 same: Cliff James (treasurer). Ben Griffilhs. Neil Stevens. R6v Sarah Yetrn&n, Richgrd Stsmp, Karen Todd. Ned Stevens continued 8$ ¢hair. Monihly business meetlngs on4ine continue to bo a successful model allowing stralegiq fin8ncial and oporation81 tssues to be taken al each meeting. induding 8 ca¥h fl¢)w forecast and a review of at leasl one policy Ilo en$uro th81 •ll are covered every 2-3 years). Tho ￿016 trusle8 group me815n person wfth the CEO and Buslness Support Manager for a Strategy day In November, In addition, an Operational subgroup consisting ol the tr88surer, Rithard Slamp and the CEO 8nd Buslness Support manager meet 4 tlmes a ￿8t to revlew progr88s on acb'ons, Icok at more d8taMed operatlonal polnts and on5ure that financlal tarwts are being met. A s81egu8rding Su￿9[0up chalred by Sarah Yetman (FW safeguarding trustee bad) 8180 now meets 4 times a y88r, agaln wlth 2 trusle•s (Sarah an¢J Nell) plus the CEO and Buslness Support m8nager; it Uses the Charlty Commission 10-point plan of good practke to review progr8ss in creating a sound safeguarding culture and r8spondlng lo cases. Thg whcle trustee body ry￿ets on41ne to pray wiiti ihe CEO every 2 weeks. The trustees, who are also the directors for the purpose ol ccfnpany law, and wlK* served during the year and up to the dale of S￿nature of ihe financial $1816rnents were.. Mr B Griifithg Mr C James Rev R Stamp Mr N Stevens Mrs K Todd Rev S Yetm8n Rev C Beaumont M8 L Dovios (ResKJned 19 June 20241 {Appointed 17 May 2023) IApp(xnlad 21 June 2023) Audltor In accordance with the companls 8rtides, a resolution proposing thal Hamsons be reappointed as auditor of Ihe compary wim be put at a General Meeling. Tho Irusts8s' report was approved by the 808rd ofTru510è5. Mr C James Tru•t•o 15 November 2024

FAITHWORKS WESSEX

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Faithworks Wessex for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

FAITHWORKS WESSEX

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FAITHWORKS WESSEX

Opinion

We have audited the financial statements of Faithworks Wessex (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 charity 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 require us to report to you if, in our opinion:

FAITHWORKS WESSEX

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FAITHWORKS WESSEX

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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.

FAITHWORKS WESSEX INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF FAITHWORKS WESSEX As part of an audit in accordance with ISAS {UK), we exercise professional judgment and maintain professional sceptirjsm throughout the audit. We also: Identify and assess the risks of material rnlsstalement of the financlal statements. whether due to fraud or error, design and perform audit procedures responsive lo thos8 risks, and oblain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of nol detecting a malerial misslatemenl resulting from fraud is hig*er than for one resulting from error. as fraud may involve ¢ollu5ion. forgery. inlenlional omissions, misrepresentations. or the override of intemal control. Obtain an understanding ol internal control relevant lo the audil In order to deS￿n audit proceduT8S that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's Internal control. Evaluate Ihe appropriateness of accounting policies used and the reasonableness of accounting estimates and ielated disclosures made by the tiuslees. Conclude on the appropriateness of the trustees, use of Ihe going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or conditions that may casl significanl doubl on the charitable company's ability lo continua as a going concern. If we condude that a material uncertainly exists, we are required to draw atlenlion in our audilor's feport to the related disdosures in Ihe financial slalemenls or. if such disclosures are inadequate, to modify our opinion. Our conclusions are bas&d on the audit evidence obtained up to the dale of our audilor's report. However, future events or conditions may cause the charitable company to cease lo continue as a going concern. Evaluate the overall presentation, structure and conlenl of the financial statements, including the disdosures, and whether the financial statements represent the undeilying transactions and evenls in a manner that achieves fair presenlalion. Wa communlcate with those charged with governance regarding, among olher matters, the planned scope and liming of Ihe audit and significant audil findings, induding any $KJnificanl deficiencies In inlernal conlrol that we identify during our audit. Us• of our report This report is made solely to the charity's trustees, as a body. in accordance with part 4 of the Charities (Accounls and Reporis) Regulalions 2008. Our audit work has been undertaken so Ihal we might stale lo the charrty's trustees those mgllers we ar8 required to state lo Ihem in an auditor's report and for no other purpose. To the fullest 8Xtenl pemiitted by law, we do not aecept or assume responsibility lo anyone other than the charily and Ihe charily's Irustees as a body. for OUT audil work, for this report, or for Ihe opinions we have formed. Har 2 Oecember 2024 Chartered Accountants ststutory Audltor 4 Brackley Close 8oumemouth International Airport Christchurch Dorset BH23 6SE Harrisons is eligible for appointment as audrtor of the charily by virtue of its eligibility for appoinlmenl as auditor of a company under section 1212 of the Companies Act 2006. 11

FAITHWORKS WESSEX

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
130,049
1,241,140
Charitable activities
4
2,728
95,553
Investments
5
22,177
41
Total income
154,954
1,336,734
Expenditure on:
Raising funds
6
11,373
6,836
Charitable activities
7
140,570
1,252,949
Other expenditure
11
-
(4,263)
Total expenditure
151,943
1,255,522
Net income/(expenditure)
3,011
81,212
Transfers between
funds
(18,375)
18,375
Net movement in
funds
(15,364)
99,587
Reconciliation of funds:
Fund balances at 1 April 2023
62,498
619,801
Fund balances at 31 March
2024
47,134
719,388		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
1,371,189
114,728
972,723
98,281
-
57,389
22,218
2,734
7,034
1,491,688
117,462
1,037,146
18,209
7,900
9,829
1,393,519
153,335
987,728
(4,263)
-
(1,500)
1,407,465
161,235
996,057
84,223
(43,773)
41,089
-
-
-
84,223
(43,773)
41,089
682,299
106,271
578,712
766,522
62,498
619,801		 Total
2023
£
1,087,451
57,389
9,768
1,154,608
17,729
1,141,063
(1,500)
1,157,292
(2,684)
-
(2,684)
684,983
682,299

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

FAITHWORKS WESSEX BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flx•d ass•ts T8ngible assets 13 33.780 20.107 Curront a•Mt¥ Debtors Cash at bank and In hand 14 75,714 694.739 45.450 621,242 770,453 666.692 Crodltor•: amounts falllnq du• wlthln on? y•ar 15 37,711 4,500 Nel cuffent assets 732.742 662,192 Total a•••l8 l•u curr•nt Ilabllttl•s 766,522 682.299 Thè fund• of th• ¢harlty Restricted income lund3 Unrestrlcted lunds 16 719,388 47.134 619,801 62,498 766.522 682.299 The company is entitled lo the exemption from the audit Thiuiremenl Contained in s8Ction 477 of the Comp8nie$ Acl 2006, for the year ended 31 March 2024. altr￿ugh on audll has been ¢8thed out under gectlon 144 of th8 Charille8 Act 2011. Thfj directors acknowledge their responsibilits8s for complying with the requirements of th8 Compani88 A¢t 20C wilh respect lo accountirwJ records and the preparation of f%￿ncial slatemenls. The member8 ha￿ not required the company lo oblain an audit of tts financi&l st818mènts und8r the r8quir8m8nts of the Companies Act 2006, for the year in question In accfKdanc8 with section 476. These financial slatements have been prep8fed tn accordance wrth the prowsl¢Ms appllcable to companieB subject to the smaH companie8 iegirne. November Tho fin8n¢Fal statements ￿ere approved by Ihe trustees on 15 eelober 2024 MrCJ Company ragi6tr8tion number 05077777 (England and Walas) 13-

FAITHWORKS WESSEX

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
21
Investing activities
Purchase of tangible fixed assets
Proceeds on disposal of tangible fixed
assets
Investment income received
Net cash (used in)/generated from
investing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(29,933)
7,497
22,218		 £
73,715
(218)
73,497
621,242
694,739		 2023
£
(6,091)
1,500
9,768		 £
(19,660)
5,177
(14,483)
635,725
621,242

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Faithworks Wessex is a private company limited by guarantee incorporated in England and Wales. The registered office is Heron Court Road, Winton, Bournemouth, Dorset, BH9 1DE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds earmarked by the trustees for particular future projects or commitments.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Fixed asset gifts in kind are recognised when receivable and are included at fair value.

Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt unless impracticable or if the costs to undertake such a valuation outweigh any benefits.

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 33% straight line Equipment 25% reducing balance Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Grants - organisations 54,452 868,121 922,573 20,095 670,593 690,688
Donated goods and
services - - - - 1,050 1,050
Grants - individuals 75,597 373,019 448,616 94,633 301,080 395,713

The charity benefits greatly from the involvement of its many volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

The charity also benefits from the receipt of a large number of donated items for distribution to beneficiaries. Due to the volume of low-value items received it is impractical to measure reliably the fair value of these donated items.

4 Income from charitable activities

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Income from charitable
activities
2,728
51,357
Charitable rental income
-
44,196
2,728
95,553		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
54,085
-
20,646
44,196
-
36,743
98,281
-
57,389		 Total
2023
£
20,646
36,743
57,389

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Income from investments

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Interest receivable
22,177
41
Raising funds
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Fundraising costs and
materials
11,373
6,836
11,373
6,836		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
22,218
2,734
7,034
Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
18,209
7,900
9,829
18,209
7,900
9,829		 Total
2023
£
9,768
Total
2023
£
17,729
17,729

6 Raising funds

7 Charitable activities

Charitable Charitable
Activities Activities
2024 2023
£ £
Charitable activity expenditure 1,108,520 917,241
Share of support costs (see note 8) 276,984 198,465
Share of governance costs (see note 8) 8,015 25,357
1,393,519 1,141,063
Analysis by fund
Unrestricted funds 140,570 153,335
Restricted funds 1,252,949 987,728
1,393,519 1,141,063

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Support costs

Staff costs
Premises costs
Motor and travel costs
General office costs
Legal and professional
Analysed between:
Charitable activities		 Support
costs
Governance
costs
£
£
-
2,620
166,463
-
17,461
-
93,060
-
-
5,395
276,984
8,015
276,984
8,015		 2024Support costs Governance
costs
£
£
£
2,620
-
19,944
166,463
95,314
-
17,461
24,794
-
93,060
78,357
-
5,395
-
5,413
284,999
198,465
25,357
284,999
198,465
25,357		 2023
£
19,944
95,314
24,794
78,357
5,413
223,822
223,822

Governance costs include fees payable to the auditor for production of accounts and audit work totalling £4,725 (2023: £4,524).

9 Trustees

None of the trustees received any remuneration for their services or reimbursement of expenses during either the current or previous year.

10 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
43
2024
£
718,865
43,147
40,783
802,795		 2023
Number
39
2023
£
620,487
36,415
34,576
691,478

During the year there were redundancy payments of £nil (2023: £768).

There were no employees whose annual remuneration was more than £60,000.

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Employees

(Continued)

Remuneration of key management personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The remuneration of key management personnel is as follows.

2024 2023
£ £
Aggregate compensation 193,912 168,731
11 Other
Restricted Restricted
funds funds
2024 2023
Net (profit)/loss on disposal of tangible fixed assets (4,263) (1,500)
(4,263) (1,500)

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13 Tangible fixed assets

Fixtures and
fittings
Equipment
£
£
Cost
At 1 April 2023
35,046
32,586
Additions
8,014
9,925
Disposals
(1,423)
(2,685)
At 31 March 2024
41,637
39,826
Depreciation and impairment
At 1 April 2023
24,859
27,993
Depreciation charged in the year
3,901
6,967
Eliminated in respect of disposals
(876)
(2,685)
At 31 March 2024
27,884
32,275
Carrying amount
At 31 March 2024
13,753
7,551
At 31 March 2023
10,187
4,593		 Motor
vehicles
£
11,745
11,994
(7,050)
16,689
6,418
2,159
(4,364)
4,213
12,476
5,327		 Total
£
79,377
29,933
(11,158)
98,152
59,270
13,027
(7,925)
64,372
33,780
20,107

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Accruals and deferred income		 2024
£
72,458
3,256
75,714
2024
£
37,711		 2023
£
43,149
2,301
45,450
2023
£
4,500

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at
1 April 2023 resources expended 31 March 2024
£ £ £ £ £
ARCH 10,742 247,309 (187,195) 864 71,720
Poole Foodbank 88,634 145,514 (136,290) 2,335 100,193
Money Matters (CMA) 11,936 104,901 (70,578) 423 46,682
Christchurch Foodbank 117,134 192,127 (190,652) 3,704 122,313
Nourish (Blandford Foodbank) 106,341 111,303 (114,343) 3,484 106,785
Smile 14,372 105,379 (91,300) 591 29,042
Wimborne Foodbank 171,550 126,393 (152,239) 4,782 150,486
Town Pastors CHP 14,402 1,555 (3,661) 407 12,703
Recovery (223) - - 223 -
Life Centres 59,263 121,559 (122,203) 811 59,430
Hope Into Action 3,561 63,724 (67,955) 79 (591)
Southbourne Foodbank 22,089 16,970 (19,106) 672 20,625
Night Shelter Transformation Fund - 100,000 (100,000) - -
619,801 1,336,734 (1,255,522) 18,375 719,388
Movement in funds
Balance at Incoming Resources Transfers Balance at
1 April 2022 resources expended 1 April 2023
£ £ £ £ £
BCARS General 517 - (129) (388) -
ARCH 51,837 141,648 (183,379) 636 10,742
BCARS Stay Off The Streets 331 - (83) (248) -
Poole Foodbank 67,323 159,042 (128,379) (9,352) 88,634
Money Matters (CMA) 26,231 39,006 (53,301) - 11,936
Christchurch Foodbank 117,789 163,708 (164,363) - 117,134
Nourish (Blandford Foodbank) 62,602 111,462 (67,723) - 106,341
Smile 16,145 52,614 (63,739) 9,352 14,372
Wimborne Foodbank 151,752 131,302 (111,504) - 171,550
Town Pastors CHP 16,414 2,515 (4,527) - 14,402
Conversations - - - - -
Recovery 1,831 55,453 (57,507) - (223)
Life Centres 65,940 102,490 (109,167) - 59,263
Blandford Life Centre - - - - -
Hope Into Action - 5,536 1,975 - 3,561
Southbourne Foodbank - 23,869 1,780 - 22,089
Night Shelter Transformation Fund - 50,000 50,000 - -
578,712 (1,038,645) (997,556) - 619,801

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Restricted funds

(Continued)

BCARS General. A restricted fund for the purpose of assisting local churches help the homeless in the area. During the year this fund was merged with ARCH.

ARCH (Previously FW Home). A restricted fund for projects to help individuals who are rough sleeping in the area to move into more secure accommodation (including "Sleepsafe").

BCARS Stay Off The Streets. A restricted fund for projects to help individuals who are no longer on the street to gain skills, resilience, and self-confidence (including training workshops). During the year this fund was merged with ARCH.

Poole Foodbank. A restricted fund for the purpose of running the food bank in the Poole area.

Money Matters. A restricted fund for the purpose of financial budget and debt counselling by volunteers.

Christchurch Foodbank. A restricted fund for the purpose of running the food bank in the Christchurch area.

Nourish (previously Blandford Foodbank). A restricted fund for the purpose of running the food bank in the Blandford area.

Smile. A restricted fund for the purpose of support to lone parent families.

Wimborne Foodbank. A restricted fund for the purpose of running the food bank in the Wimborne area.

Town Pastors CHP. A restricted fund for the purpose of funding Town Pastors who patrol the town centres on weekend nights to provide support to those in need.

Recovery. A restricted fund for the purpose of running community addiction recovery services with local churches.

Life Centres. A restricted fund (Lottery funding) for the purpose of developing and working with local churches to put in place one-stop centres for crisis support across urban Dorset.

Hope Into Action. A restricted fund for the purpose of enabling churches to house the homeless.

Southbourne Foodbank. A restricted fund for the purpose of running the food bank in the Southbourne area.

Night Shelter Transformation Fund. A restricted fund for homelessness projects run by the charity.

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April
Incoming
Incoming		 Resources Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
General funds 62,498 154,954 (151,943) (18,375) 47,134
Previous year: At 1 April
Incoming		 Resources Transfers At 31 March
2022 resources expended 2023
£ £ £ £ £
General funds 106,271 117,462 (161,235) - 62,498
18 Analysis of net assets between funds
Unrestricted Restricted
Total		 Unrestricted Restricted
Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Fund balances at 31 March 2024 are
represented by:
Tangible assets 3,469 30,311 33,780 4,008 16,099 20,107
Current assets/(liabilities) 43,665 689,077 732,742 58,490 603,702 662,192
47,134 719,388 766,522 62,498 619,801 682,299

FAITHWORKS WESSEX

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
37,525
29,702
67,227		 2023
£
31,437
47,390
78,827

20 Related party transactions

Other related party transactions

During the year aggregate donations received from related parties without conditions was £7,459 (2023: £7,326).

Sarah Yetman, a trustee of the charity, is also the vicar at St John's Church. During the year rent totalling £3,090 (2023: £5,240) was paid to St John's Church.

During the previous year a vehicle with a fair value of £1,050 was donated from the parents of Neil Stevens, a trustee.

21 Cash generated from operations 2024 2023
£ £
Surplus/(deficit) for the year 84,223 (2,684)
Adjustments for:
Investment income recognised in statement of financial activities (22,218) (9,768)
Gain on disposal of tangible fixed assets (4,263) (1,500)
Depreciation and impairment of tangible fixed assets 13,026 9,582
Movements in working capital:
(Increase) in debtors (30,264) (18,710)
Increase in creditors 33,211 3,420
Cash generated from/(absorbed by) operations 73,715 (19,660)
22 Analysis of changes in net funds
At 1 April 2023 Cash flowsAt 31 March 2024
£ £ £
Cash at bank and in hand 621,242 73,497 694,739
621,242 73,497 694,739