Charity number.. 1112972 THE SHOE ZONE TRUST Unaudited annual report Year ended 31 December 2023
THE SHOE ZONE TRUST CONTENTS Page Reference and adminislralive details of Ihe Charity Report of the Trustees IiitJep¢iideiiL Exa151iiier's R¥porl Slalemenl of Fin3n¢ial Aclivilies Balance Sheet Slalemenl of Cash Flows Notes lo the Financial Slalemenls
THE SHOE ZONE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY Tru3t¢¢¥ Mr A umith Mr C Smith Rpgiqtpred offic Thg Shoe Zone Trust Haramead Business Centre Humbeislone Road Leicester LE12LH Registered charily number 1112972 Bankers HSBC 2-6 Gallowlree Gale Leicester LE1 IDA Natwest 1 Granby Street Leicester LE19GT Independent Examiner Cooper Parry Group Limited Cubo Birmingham Office 401 3rd Floor Two Chamberlain Square 83 3AX
THE SHOE ZONE TRUST REPORT OF THE TRUSTEES The Trustees have pleasure in presenting Iheir report and the financial slalemenls for the Charity for the year elided 31 Dekn¥iiiber 2023. Tlie Ti-usteeb iofifii(11 Ilicil Iliè iepui I ciiid liiidiibial slal¥iiiviits of the Trust comply with the Charities Act 2011, the requirements of the Foundation's governing documents and the provisions of the Slalemenl ol Recommended Practice I SORP") "Accounting and Reporting by Chaiilies" applicable to Gliai-ili¥s piepariiig tli¢ic dbiouiili iii aGGVI-daiiGe willi tli¢ FinaiiGial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102}. Constitution of the Charily The Shoe Zone Tiusl is registered with the Charity Commission for England and Wales as an Unincorpoialed Chgrily with the goveining document of a declaration ol trust dated l November 2005 The Charity is administered by the Trustees Iisled on Page 1. All ol them served throughout the year. The Trustees meet at least quarterly. Method of appolntment or election of Trustees The managemenl of the Trust is the respons1bilily of the Trustees, Charles Smith and Anthony Smith. It Is Inlen(Jea Ihal the I rusl's boar(J ol Iiuslees should consisl ol al leasl two, bul no 9realer Ihan three, members. Obj9Ctives of the Charity The objectives of the Charity are lo make grants and donations lo other charities lo relieve financial hardship and poverty andlor 2dvancemenl of education, mainly loi children and yOLinq peisons under age 18 particularly In Leicestershire and RLJlland and for certain Charities operating in Ihe Philippines and other countries. This is relleclèd in the range ol organisalions that benefit from grants and donations given by the Trust, most of which have long standing relalionships. The Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benelil. The Charity does not carry out any fundraising aclivilies. Achievements and Performance In the year lo 31 December 2023, the Trust made oranls and donations lolallino £281,702 12022.. £314,208) The largèst donation of £33.000 was made lo CORD, an organisalion working lo make peau¥ d ie¢ilily iii yliiLeb wli¥i¢ p¢vpl¥ Iivl lidve Ili¥ IieeUviTI lu exeibise Ilieii iiylilb Olligi biyiiIIIL<iiil donations weie made lo the Shepheicl ol the Hills in the Philippines, whose aim Is lo benefit underprivilegèd children who have been aban(ioned, neglected or abused and Ministries Wilhoul Finan¢ial Review Incorlle of £754,288 was receivable. Grants and donations of £281,702 were payable. Funds carried forward are £1,283,582 lunreslricled £1,280,009. reslricled £3,573). 2022 lolal funds carried forward were £810,996 lunreslricled £807,423, reslricled £3.5731. No salaries or expenses were p21d lo the Trustees. Reserves Policy The Trust does not currently have a reserves policy. As Shoe Zone Rela11 Limited provides the Trust with annual funding. and the Trustees regularly review the balance available lo them, including any anlicipaled fulure granls lo be considered and other costs, a reserves policy is not considered necessary. Thc unrestricted funds are £1,280,009. These were retained for commitments for grants in 2024.
THE SHOE ZONE TRUST REPORT OF THE TRUSTEES Risk Factors The Trustees regularly review the major risks lo which the Charity is exposed, In particular those related lo the operations and finances of the Trust, anol are salisfieLI that systems and procedures are In place In mitigalp p.ypn£iirp. Majnr riskq IhAI thp. Trii*lè.ps hav$5 eonsirl@rArl and hAVP t3kp.n steps In miligatp. include having a robust assessment and monitoring policy, including regular upolales with the charities, lo ensure that grants made are for work which is considered charitable. Plans for future periods The Trustees continue lo maintain the amount of funds il has available annually for grant dislribulion. The Trustees will continue lo review the Trust's work durin9 the coming year and continue to offer grant based on decisions made by the Truslees. Statement of Trustees Responsibilities Trustees are responsible for preparing a Trustees, Annual Report 2nd financial slalemenls in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England and Wales requires charity Iruslees lo prepare financial -tatcmcnt- for each ycar which give a truc and fair view of tho stale ol affair of thc ¢hMrity E)nd of thc incoming resources and application of resources. of the eharily for Ihal period In preparing the financial slalemenls, the Iruslees are required lo.. select suitable a¢counling policies and then apply them Consislenlly", observe the methods and principles in the applicable Charities SORP, makp iiirlgp.mp.ntq and pqlimalpq that xrp r938onahlp and prijdpnt., slate whether applicable accounting standards have been followed, subject to any material departures that musl be disclosed and explained in the financial slalemenls., and pr8para thè financial gtatèmènts on tho going conc8rn basi8 unless it ig inappropriata to presumè that the charity will continue in business. Truslees are responsible for keeping propel accounling recor(i5 that dis¢losÈ with reasonable accuracy al any lime the financial position of the Trust and lo enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and Ihe provisions ol the Trust deed. They are also responsible lor safeguarding the assets of the Trust and taking reasonable sleps for the prevention and detection of fraud and other IrregLJlarilies. This report was reviewed and approved by the TrLJStees on 18 September 2024 and signed on their beliall by.
THE SHOE ZONE TRUST Independent Examiner's Report For the year ended 31 December 2023 I report to the charity trustee5 on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 5 to 11. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charitV'5 accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451Sllbl of the Act. Independent examiner's statement The charity's Eross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Institute ol Chartered Accountants in England and Wales IICAEWI. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the accounts do not accord with those records,. or the account5 do not comply with the applicable requirements concerning the form and content f aitount% %pt out in the Charities (Accounts and Reports) Reeulalions 2008 other than anv requirement that the accounts 8ive a 'true and lair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. GLEN BOTh FCA Cooper Parry Group Limited Cubo Birmingham Office 401 3rd Flnr)r Two Chamberlain Square Birmingham B3 3AX Date..
THE SHOE ZONE TRUST Statement of Financial Activities For the year ended 31 December 2023 2023 2023 2023 Total 2022 Total Unrostricted Restrictcd Notes INCOME FROM Shoe Zone Retail Ltd Donations Interest 748,904 1,285 4,099 748.904 1,285 4,099 646,880 23,849 1,140 TOTAL INCOME 754,288 754,288 671,869 EXPENDITURE ON Direct charitable giving 281,702 281,702 314,208 TOTAL EXPENDITURE 281,702 281,702 314,208 NET MOVEMENT IN FUNDS 472,586 472,586 357.661 FUNDS BROUGHT FORWARD 807,423 3,573 810.996 453,335 FUNDS CARRIED FORWARD 1,280.009 3.573 1,283,582 810,996 The notes on pages 8 to 11 form part of these financial statements.
THE SHOE ZONE TRUST Balance Shpet As at 31 December 2023 2023 2022 Note CURRENT ASSETS Debtors Cash al bank 335,975 947,607 810,996 NET AND GURRENT ASSETS 1,282,582 810,996 CHARITY FUNDS Unreslricled funds Reslricled funds 1,280,009 3,573 807,423 3.573 TOTAL FUNDS 1,283,582 810,996 The financial slalemenls were approvecj by Ine Trusiees on 18 September 2024 and ui I Ilieir behalf by. fcfAO The notes on pages 8 10 11 form part ol Ihese financial slalemenls.
THE SHOE ZONE TRUST Statement of Cash Flows For the year ended 31 December 2022 2023 2022 Note Cash flows from operating activities: Nel cash providèd by operating aclivilies 136,611 474,072 Net cash provided by operating activities 136.611 474.072 Change in cash and cash equivalents in the year 136.611 474,072 Cash and cash equivalents at the be9innin9 01 the year 810,99G 33G,924 Cash and cash gquivalonts at tho ond of th& yoar g47,607 810,906 RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACtIVITIES 2023 2022 Nei incoming resources 472,586 357,661 Increase in debtors 1339,9751 116.411 Net cash inflow from operating activities 136,611 474,072 ANALYSIS OF CHANGES IN NET FUNDS At l January 2023 Cash flow At 31 December 2023 Net tash Cash at bank 810,996 136,611 947,607 Total 810.996 136,611 947,607
THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2023 1. ACCOUNTING POLIGies 1.1 Basis of preparation of financial stalements The financial slalemenls have been prepared under the historical cost convenlion. The financial slalemenls have been prepared in accordance wilh the Slalemenl ol Recommended Piactice ISORPI 'Ar.cniJnling and Rp.pnrting hy C.h2rilip8" applicable lo eharilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charilies Act 2011 and applicable regulations. The accounts have been prepared under the historical cost convention with items recognised al cost or transaction value unless olherwise slated In the relevant nolelsl lo the accounls. The trust conslilules a public benefit enlily as defined by FRS 102. 1_2 Flind attnunting The unreslricled funds are lunds which Can t>e Ljsed in accordance with the charitable nhjp.r.tivp.s 21 thp. di%r.rg.tinn nf thg. Triiqtpes Reslficled funds comprise unexpended balances ol donations and grants held on trust for specific puiposes. 1.3 Incoming rpqniJrrp< All incoming resources are included in the Slalemenl ol Financial Activities when the charily hAq an p.nlitlp.mg.nt tn thp. fijndq aftpr any performance conditions have been mel. Ihe amount can be measured reliably. and the income will probably be received. 1.4 Rp%niJrtÈs Èxpènded Expenditure is accounted for on an accruals basis and has been included under expense r.2lp.gr)rig.% IhAt xggrgoAI? all costs lor allocation lo aclivilies, where costs Cannot be directly allribuled lo particular aclivilies, they have been allocated on a basis consislenl with the use ol the resources. Grants payable lo third parties are within the charitable objectives Vvhere unconditional grants are offered, these are accrued as soon as the recipienl is notified ol the grant, as Ihis gives rise tr) a rg.28nn2L)1g p.xpgrlation th21 the recipient will receive the granl. Where ijranls are conditional. the grant is only accrued where any unfulfilled conditions are outside Ihe charity's control. 1.5 Going ¢oncern At Ihp. limp. nl xpprnving thg. fin2nrial slalemenls. the Trustees have a reasonable expectation that the Charity has adequate resources lo Continue in operational existence for the foreseeable lulure. Thus, the Trustees, continue lo adopt the going concern basis of accounting in preparing trhp. finanr.iAI %txtg.mg.nlq 1.6 Financial instruments The Trust only has financial assets of a kind that qualify as basic financial inslrumenls. Basic financial In8lrumenls are initially iecognised al transaction value and Slibsequenlly measured t thp.ir qp.Ill&mpnl value
THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2023 Donations Total 2023 Total 2022 Rathbones Investment Management Ltd Other donations 20,000 3,849 1,285 1,285 23,849 DonatlOn5 of £nil12022.. £23,849) were allocated lo restricted funds. Donations of £1,28512022.. £nill were allocated to unrestricted fund5. 3. Shoe Zone Retail Ltd Total Total 2023 2022 Profil Contribution Cairier Bag Income Charity Change 320,000 428,904 270,000 360, 142 16.738 748,904 646,880 The above income of E748,90412022.. £646,880) was allocated to unrestricted funds.
THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2023 4. Direct Charitable Giving Total 2023 Total 2022 CORD 33,000 31,024 29,983 25,000 24,512 15.148 11,000 10,570 10.020 45,000 10,000 36,445 Shepherds ol the Hills- Philippines Ministries Without Borders- Philippines The Hope FoundlL lion Other Amanlani 61,080 19,555 24.468 26,110 Samaritan's Purse- Ukraine Young Leicestershire Wishes For Kid5 Local Beneficiaries National Beneficiaries Global Beneficiaries 20.550 20,000 45.000 10,000 87.445 281,702 314,208 In 2023 no funds12022.. £23,849) were 311oc3ted lo restricted funds. S. Net InrviTiiwig Retsvurces DLJring Ihe year. no Trustees received any remuneration. Duiiiig the year, no Trustees received any benefi18 in kind. During the year. no Truslees received any reimbursement of expenses. 6. Debtors Total Total 2022 2023 Accrued Income 335,975 335,975 io
THE SHOE ZONE TRUST Notes to the Financial Statements For the year ended 31 December 2023 Brought FOard Incoming resources R¢470urces Carriod Forward Expended STATEMENT OF FUNDS Unrestricted fuiids Accrued Charity Funds Charity Funds 335.975 335,975 944,034 1,280.009 807,423 807,423 418.313 1281,7021 1281,7021 754.288 Restrieted funds Other 3.573 3.573 8. Related Party Transactions The Trustees are Directors of Shoe Zone Relail Limited, who made donations in the year of £748,904 12022." £650,243) ot this amount. £dJS,97512022 £nlll remains Outstdri1li dl 31 DeGeimber 2023. The Trust madg paym•nls ol £gg,21912022 F124 ?7fi1 In qhrje Zone Relail Limited during the year in respect of donations made on behalf ol the Trust and other Iransfers of funds. li