We are pleased to enclose your annual accounts.
REGISTERED COMPANY NUMBER: 06236043 IEngland and Wales) REGISTERED CHARITY NUMBER: 1121884 Community Foundation for Wakefield Report of the Trustees and Flnancial Statements for the Year Ended 31 Marth 2024 SMH lolllffe Cork Ltd 33 George Street Wakefield West Yorkshire WFI ILX
Communlty Foundatlon for Wakefield Contents of the Financial Statements for the Year Ended 31 March 2024 PaBe Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 21 Detailed Statement of finanaal Aciivities 22 to 23
Community Foundation for Wakefield Repon of the Trustees for the Year Ended 31 March 2024 The Trustees present their report together with the financial statements for the year ended 31 March 2024. oBJEIVEs AND AcfiviTIES The Community Foundation for Wakefield District is dedtcated to helping individuals, families and communities of the District through gifts and donation5 received from individuals. companies, trusts, public bodies, 3nd other organisations. We work with philanthropists, businesses. and others to contribute into our Endowment Fund to achieve their charitable objectives. Through our Endowment Fund we support local voluntary groups to secure funding / grants for their work. We promote and celebrate Unsung Heroes who have made a major contribLStion to their community. Objects for which the Charity was established The promotion of any charitable purposes for the benefit of communities within the Wakefield Metropolitsn District and in particular.. The advancement of education The protection of good health (both mental and physicall Relief of poverty and sickness Oblertives and aims Times, circumstances. environment and landscape change at an ever-increasing pace and so the Foundation need5 to review its Vision, Mission afid Values on a regular basis. At our Away Day we examined our current activities and the changing scene and how we could be more relevant to meeting the needs of individuals. families and communities of the Wakefield District. This resulted in the confirmation of the following: Our Vision environment to build strong and sustainable communities within the Wakefield Distritt that and provide a ¢arin8 and safe Our Mission- to continue to develop the Foundation as a mean5 of bringing donors and communities together. Our Value5- the Foundation strives to achieve the following core values in everything we do.. Commitment- to addressing disadvantage and making a real difference now and in the future KrtowledBe- in our understanding of local communitie5 and local issues Collaboration - working together with individuals, farnilie5, companies, local and central government and third sertor organisations Accountability- to our donors, partners and the local communlty Transparency- in the way we work. how we mana8e funds and the @rant processes Integrity- being honest. open and reliable Leading- and promoting community engagement and enterprise Strategi¢ objettives Give Box development and expansion in both sale5 and indirect benefits Diversification of income Streams, inclvding grants, events, membership, lottery, etc. Maximise grassroot opportunities Relationship building with community groups, the third sertor organisations, private companies, through effectlve communications and marketing Operate, economically, efficiently, and effettively, ensuring ongoing 5U5tainability. From the above we developed a resourced 2 Year Action Plan. This demonstrated that our aspirations were greater than our human resources, so we decided to recruit a further staff member and to prioritise the artions into high, medium, low and on-going. ACHIEVEMENTS AND PERFORMANCE The Give Box15imilar to a Charity Shop but much morel is located in the Trinity Walk, Wèkefield's newest Shopping Centre and is our main sosjrce of finance. Although we don't have a lot of resources for grant givin& through the Give Box, we are able to meet the needs of many at grassroots level. We provide a huge amount in terms of social benefit, which is equivalent to over £250,000 for the whole year. For eyamples refer to our website www.wakefieldcf.or Page I
Community Foundation for Wakefield Report of the Trustees for the Year Ended 31 Mar¢h 2024 ACHIEVEMENTS AND PERFORMANCE- contlnued Grant Fund5= Haribo Happiness Together Fund.. Originally planned for four years thè Èffectiveness of the program was reviewed at the end of year 2 and it wa5 mutually agreed that the future two years wouldn't take place. Elderly Persons Social Isolation Fund.. This came out of the blue from an anonymous individual. The Foundation was zsked to administer a total of £ISO,000 in grants for the elderly to address social i501ation. There is approximately £23,800 left to distribute. Women'5 Fund.. Having been dormant for a whlle, it 15 planned that it will be reviewed next year. Fuel Poverty Fund., The objective of the fund is to a5515t individuals who are in fuel poverty and struggling to pay their fuel bills. The target was to raise £25,000 through pledges from Wakefield District Hou5in& Wakefield Council and frorn match funding. Historically this match funding has corne through "The Big Give" but this year this wa5 not available, so the Foundation contributed instead. This year approximately £18,000 was raised and presented to Wakefield Council in the autumn to coincide with the heating going on. Unsung Heroes Annual Awards Ceremony.. This event isn't just an awards ceremony; it's a celebration of the incrediblè individua15 in the Wakefield District who go above and beyond without expecting anything in return. All shortlisted heroes are honoured for their contributions, receiving certific3te5 and trophies, along with complimentary tickets to the evening, ensuring everyone can enjoy the celebration of their efforts. What makes this night even more special are the awards: the People'5 Choice Award, where the public's vote determines the winner, Team of the Year Award, for the group in the District that's making the greatest impact, and the Overall Winner Award, which recognises exceptional dedication. Other agencies I charities / groups we support and work with.. Do85 homes Cère homes Baby banks Neo natal unit Brownies, cub5, Scouts, after School groups Schools Churches/Mosques City of Sanctuary- refugees Adult social care Memory Action Group- dementia care New Hall Prison SWYFT- South West Yorkshire Foundation Trust Mental health outreach workers WADAS- Domèstic violence service WDH- Wakefield District Housing AMC-Andy's Man Club WSK- Wakefield Street Kitchen Food Banks Communsty Centres Step Up Fieldhead Hospital Wakefield Technology For All Ey Up Charity Other charity retailers we support- My Eco Baby Well Project Shop Normanton Wakefield Prlde The Rerycle Yard CAP Kidz Aware Bag Fairies Unrform Bank Page 2
Community Foundation for Wakefield Report ol the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Funding Funding of core costs Is generated through four key strands.. The Endowment Fund, currently valued at £481.127 (management fees 1.5% of capital value are charged annually) Funds available for grant-making (management fees of IO% are char8edl Give Box Membership and event fee5 (including Unsung Heroes) Financial statements The financial statements have been prepared in accordance with the Companies Act 2006 and comply with the Statement of Recommerbded Practice on Accounting by Charities. The financial result5 for the Foundation are shown in the annexed financi31 statements. ReseNes Pollcy The reserves of the Foundation are composed of unrestricted. restricted and endowment funds. These funds are maintained at a sufficient level in order to allow the smooth operation of activities. Unrestricted Reserves.. The Trustees are committed to maintaining general reserves to ensure that core activitie5 of the Foundation will continue into the future. The trustees consider that the minimum level of reserves required to meet our legal commitmènts if the Foundation ceased to operate and provide funds to cover unforeseen expenditure or an unexpectedloss of income is £35,000. At 31 March 2024 the balance of unrestricted funds totalled £49,17412023.. £36,820). Restricted Reserves.. The composition and movement in restricted reserves 15 shown in the financial statements. The restricted funds are held in the form of cash in bank accounts. The current level of restricted funds. and the ongoing funding arrangernents relating to those funds, is sufficiènt to maintain the speciflc projects to which they relate. At 31 March 2024 the balance of restricted funds totalled £94,99412023.. £122.8711. Endowment F¢Jnd.. The Endowment Fund is a permanent capital fund, maintained in investments. The movement in the fund is shown in the financial statements. At 31 March 2024 the balance of endowment funds totalled £481,12712023.' £451,322). Investments The trustees regularly review investments and investment policy, which are subject to professional m3n3gement. The investment policy is to protect capital but maintain income of about 3.5% pa. This polity rema5ns unchanged following the upheavals in the financial markets in the last and current firhancial year. The management charge is 0.7% of the value of the fund5 invested. Commitments The trustees had made no commitrnents to future tapital purchases, nor given any guarantee5, at the balance sheet date. Post Balance Sheet Events The tru5tee5 are not aware of any events after the balance Sheet date that have any material effect on the position presented in these financial statements. PLANS FOR FUTURE PERIODS Wakefield District Community Foundation has been active for seventeen years. During thi5 time, it has distributed over £2 million in grants to 3.075 beneficiaries, and in so doing has helped over 33,500 people. It ha5 a150 provided over £250,000 in social benefit. As mentioned above due to the changing circurnstance5 the Foundation is migrating from grant giving to more of a grassroots-ba5ed organisation, meeting individuals. families and communities needs. as a result of the cost of living crisis, high fuel costs. etc. Thi5 will be achieved through the Give Box development and expansion. diversrfication of income streams, maximising grassroot opportunities and connections, building relationships with charities and corporate partners, greater use of social rnedia and effective marketing. One recent initiative which the Foundation is investigatlng is how we can assist in addressing 'Bed Poverty,. Wakefield District is 'hot spot, for childhood poverty i.e. children who do not have a bed to sleep in (statistics from Census, End Child Poverty Coalition and Barnardos No crib for a Bed, report, indicate there a 6000 children in Wakefield District that do not have a bed). The implications are wide ranging as children who do not get a good night's sleep are not in the best situation to be engaged or learn at school. They can be perceived as lacking attentlon, not engaged, naughty, resulting in segregation, detention and then exclusion. etc. Page 3
CommLtnlty Foundation for Wakefield Report of the Trustees for the Year Ended 31 March 2024 STRUCTURE. GOVERNANCE AND MANAGEME Governing document The Company is constituted as a Company Limited by Guarantee and has Charltable Status. The governing instrument is the Memorandum & Articles of Association. Appointment of Trustees The Trustees are initially appointed by the Board and their appointment ratified èt the next Annual General Meeting of the cornpany's members. Curreritly there are five Trustees who are appointed for their professional, business or community experience in line with the Trust's need to ensure that it has all relevant expertise consistent with its principal rolelsl. Trustees are appointed for a period of 3 years. after which they must stand for re-election, except that no trustee shall generally be eligible for re-election after completing three consecutive term5 of office. The Articles provide for a minimum of four trustees and there 15 no maximum. The Foundation hès a relatively new Board of Trustees due to retirement of number of long 5etving Trustees. The current Trustees have a desire and commitment to see the Foundation have a greater impart and are fully involved and supportive. Their skills and experience complement one another and a skills based a55es5ment is used when recruiting new Trustees to ensure any gaps are The Chairman is Richafd Hodgson and Sir Rodney Walker is the Foijndation's Honorary President, recognising his unique contribution to the support for the businesses and communities of Wakefield District. Two new Trustees joined the Foundation during the period frorn April 2023, effectively replacing two Trustees who resigned. We are grateful to them all for their commitment anil energy and are looking forward to working closely with our new appointments. Organisation and Structure Day to day management of the Trust'5 business 15 vested in the Executive Director (who is also Secretary to the Trustees) who report5 to quarterly meetings of the Board. The Executive Director is supported by the Trustees, Social Media Assistant. Senior Retail Manager. two Retail Managers, Executive Assistant and volunteers. The Role of Volunteers The Foundation is constantly seekln8 more support for its work acr05S the District and in the Give Box. Grant Making Policy The Basic criteria that apply to all open grant programmes are that groups must be based within the Wakefield Metropolitan District or. if baseil outside the area, must use the grants for the benefit of communities within the district. Unless otherwise stated, all funding stream5 are open to'not-for-profrt" organisation5 whether formally incorporated or not. Potential recipients do not need to bè a re815tered charity, as long a5 they have charitable aims and a strurture in place to demonstrate that itls properly run. Appropriate due diligence 15 always carried out a5 part of the assessment process. In order to ensure that grant5 awarded are used effectively. all recipients are reqUId to submit monitoring and evaluation forms, and random inspection visits are arranged. The Foundation has recently adopted the 'Principles of Grant Reporting" as recommended by IVAR. the Institute for Voluntary Action Research. RISK MANAGEMENr The Foundation has produced a detailed Risk Management Pollcy. With SiEnificant operational changes Continuing to take place, the policy is reviewed on an annual basis. Page 4
Community Foundation for Wakefield Report of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06236043 (England and Walesl Registered Charity number 1121884 Registered office 13 Upper York Street Wakefield West Yorkshire WFI 9NW Trustees Richard Hodgson (Chairl David Dinmore Ire5igned December 20231 Barbara Paterson (resigned December 20231 Marie Szczepanski Louise Pearson (resigned April 20241 Denise leffery Iresi8ned July 20231 Simon Cowling (resigned April 20241 Natalie Glover Jenna Fan Charlotte Stone (appointed April 2023, resigned June 20241 Jonathan Scott (appointed April 20231 President Sir Rodney Walker Executive Dirertor & Company Secretary Lisa Milburn Independent Examiner SMH Jolliffe Cork Ltd 33 George Street Wakefield West Yorkshire WFI ILX Bankers Virgin Money (formerly Yorkshire Bank plcl 6-10 Northg3te Wakefield West Yorkshire WFI ITA Solicltors Chadwick Lawrence LLP Paragon Business Village Red Hall Crescent Wakefield WFI 2DF Page 5
Community Foundation for Wakefield Report of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DEfAILS- continued Investment Managers Rathbone Investment Management Port of Liverpool Building Pier Head Liverpool L3 INW Approved by order of the board of trustees on 3 December 2024 and signed on its behalf bv.. MrR dgson-<Aair of Trustees Page 6
Independent Examlner's Report to the Trustees of Community Foundation for Wakefield Independent exarniner's report to the trustees of Cornmunity Foundation for Wakefield I'the Company'l I report to the charity trustees on my examination of the accounts of the Cornpany for the year ended 31 March 2024. Responsibilities and basis of rep¢yt A5 the charity's trustees of the Company land also its directors for the purp05e5 of company lawl you are responsible for the preparation of the 8ccounts in accordance wtth the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied mysèlf that the account5 of the Company are not required to be audited vnder Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 14515) Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give 3 true and fair view which 15 not a matter considered as part of an independent examination: or the accounts have not been prepared in accordance with the rnethods and principles of the Statement of Recommended Practice for accounting and reporting by charities13pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the account5 to be reached. Claire Lawton FCA DChA SMH Jolliffe Cork Ltd 33 George Street Wakefteld West Yorkshire WFI ILX Date: Page 7
Community Foundation for Wakefield Statement of Financial Activities for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fvnd Restrirted funds Endowment fund5 Notes INCOME ANO ENDOWMENTS FROM Donatioris and legacies 28,531 57,319 85.850 118,568 Other trading activities Investment incorne 118,281 118,281 11,868 87,075 12,819 11.868 Total 146,812 57,319 11,868 215,999 218,462 EXPENDITURE ON Raising funds Raising donations and legacies Other trading activities 98.947 35.511 3.801 102.748 35,511 101,268 38,218 134,458 3,801 138,259 139,486 Charitable activities Grassroots Endowment Fuel Poverty Wakefield Fund Haribo Happiness Together Prosper Fund Care Packages 6,901 6.901 27,750 6.055 53,705 300 2,444 5,605 24,000 27,750 6,055 53,705 300 2,444 36.407 Total 134,458 90,254 10.702 235,414 205,498 Net gainsll1055e51 on investments 33,697 33,697 140,8531 INCOMEIIEXPENDITURE) Transfers between funds 12,354 132.9351 5,058 34,863 15.0581 14,282 127,8891 17 frjet movement in funds 12,354 127,8771 29,805 14,282 127,8891 RECONOLIATION OF FUND5 Totsl funds brought forward 36.820 122,871 451,322 611,013 638,902 TOTAL FUNDS CARRIED FORWARD 49,174 94,994 481,127 625.295 611.013 The notes form part of these financial statements Page 8
Community Foundation for Wakefield Balance Sheet 31 Marth 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Endowrnent funds Notes FIXED ASSET5 Tangible assets Investments 12 13 546 546 480,869 1,706 451,063 480,869 546 480,869 481,415 452,769 CURRENT ASSETS Debtors Cash at bank and in hand 14 2,439 60,819 2.439 156.071 6,089 165,314 94,994 258 63,258 94,994 258 158,510 171,403 CREDITOR5 Amount5 falling due within one year 15 114,6301 114,6301 113.1591 NET CURRENT ASSETS 48,628 94,994 258 143,880 158,244 TOTAL Ass5 LESS CURRENT LIABILlEs 49.174 94,994 481.127 625,295 611,013 NEf ASSETS 49,174 94,994 481,127 625,295 611.013 FUNDS Unrestricted funds Restricted funds Endowment funds 17 49,174 94,994 481,127 36,820 122.871 451,322 TOTAL FUNDS 625.295 611,013 The charitable company 15 entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 In accordance with Section 476 of thè Companie5 Act 2006. The tru5tee5 acknowledge their responsibilities for ensuring th3t the charitable company keeps accounting records that comply with Sections 386 an¢J 387 of the Companles Act 2006 and preparing fin3n¢ial statements which glve a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirement5 of Sections 394 and 395 and which othe¥wise comply with the requirements of the Companies Act 2(K16 relating to financial statements, $0 far a5 applicable to the charitable companv. Ibl The notes form part of these financial statements Page 9 continued...
Community Foundation for Wakefield Balance Sheet- continued 31 March 2024 These financial ststements havè been prepared in accordance with the p¥ovisions applicable to charitable companies subjert to the small companies regirne. The financial statements were approved by the Board of Trustee5 and atjthorised for issue on 3 December 2024 and were signed on its behalf bv.. R Hodgs Trustee Mrs M Szczepanski - Trustee The notes form part of these financial statements Page 10
Community Foundation for Wakefield Notes to the Finan¢Fal Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the Charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in thè UK and Republic of Ireland IFRS 1021 leffertive l January 20191,, Financial Reporting Standard 102 'The Financlal Reporting Standard applicable in the UK and Republic of Ireland, and the Companie5 Act 2006. The financial statements have been prepared under the historital cost convention, with the exception of investments which are included at market value, as rnodified by the revaluation of certain assets. The presentational currèncy for the charitable company is the pound sterting l£l- All financial information has been presented to the nearest 1£), unless otherwise stated. Going concern The cost of living crisis rising inflation, following on from the Coronavirus pandemic, have significantly disrupted individuals, personal live5 and businesses, economic prospects in the UK and across the globe. Despite the increased difficulties in the economy we have focused on our strengths for generating income to 5UPPOrt the needs of the district. We have continued to prepare the accounts on 3 going concern basis and deem this appropriate given our ongoing reviews of our forecast and available fur¢ds. We do not consider that a material uncertainty about our going concern status currently exists in view of our financial resources compared with our financial obligations. In making this assessment we have considered thè likely trading conditions for a period of twelve months from the date of our approval of these accounts. Government grants Governrnent Grants received under the Kick5tart Scheme for the creation of new jobs for 16 to 24 year olds on Universal Credit are recognised in income in the period in which the charity has entitlernent to the funds, any performance conditions attached to the grant5 have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income All income is recognised in the Statement of Financial Activitiès once the charity ha5 entitlement to the fund5, it is probable that the income will be received and the amount can be measured reliablv. Donated goods for resale are recogni5ed once the charity has tontrol over the item, any conditions associated with the donated iterns have been met. the receipt of economic benefit from the use of the item is probable and that economic benefit can be measured reliably through the Sale in the shop as the Charity considers it impractical to estimate the fair value on receipt of the goods due to the high volume and low value nature of the products. Donated facilitie5 are recognised as income when the charity has control over the item, any conditions èssotiated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt. donated facilities are recogni5ed on the basis of the valve of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding arnount is then recognised in expenditure in the period of receipt. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been cla55ified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headin85 they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Raising funds Costs of generating funds ère those incurred in seeking voluntary contributions and do not include the costs of dlsseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of the charitsble activity of awarding grants and project development. Governan<e costs Governance costs represent those incurred in connection with tompliance with constitutional and statutory requirements. Pagell continued...
Commvnhy Foundation for Wakefield Notes to the Financial Statements- corrtinued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Tangible fixed assets Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, lÈss estimated residual value. of the assets over their expected useful lives on a straight line basis. as follows:_ COmper Equipment 33% All fixed assets are initially recorded at cost. Tamatlon The charity is exempt from corporation tax on its charitable artivities by virtue of Section 505 of the Income and Corporation Taxes Att 1988. The charitable company is not VAT registered and therefore does not recover any attributable value added tax. Fund a¢countinB Monies earrnarked by donors or by the terms of an appeal for particular projects are accounted for separately, as a Restricted Fund. The note5 to the accounts show the movements and balance5 on any such re5trirted funds. Unrestricted funds may be spent on any legitimate charitable aim as laid down in the Foundation's Mernorandum of Association. Pension costs and other p05t-retirement benefits The charitable company operates a defined contribution pen510fl scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activitie5 in the period to which they relate. Stock The Charities SORP IFRS 1021 states that donated goods for resale must be recogni5ed at fair value 'where practicable. The Charity considers It impractical to estimate the fair value of goods donated for sale in the Foundation's shop due to the high volume and low value of these items. The value of these goods to the charity 15 instead recognised when they are sold in the shop. Operating lease commitments Rentals paid under operating leases are charged to the Statement of Financial Activitie5 on a straight line basis over the period of the lease. Fixed asset investments Investments are stated at fair value as at the balance sheet date. The statement of financial activities include5 the net gain5 and losses arising on revaluation and disposals throughout the year. DONATIONS AND LEGACIES 2024 2023 Donation5 Gift aid Grants 30,986 814 54,050 54,733 620 63,215 85,850 118,568 Grant5 received, included in the above, are a5 follows.. 2024 2023 Kickstart Other grants 3,215 60,000 54,050 54,050 63,215 During the current year £nil of the Èrant incorne received was in the form of Government grants, during the prior year £3,215 of the grant income received was in the form of Government grants under the Kickstart scheme. There were no unfulfilled conditions and other contingencies attaching to grant5 at 31st March 2023. PaBe 12 continued...
Community Foundation for Wakefield Notes to the Financial Statements- ¢oniinued for the Year Ended 31 March 2024 OTHER TRADING AcfiviTIES 2024 2023 Shop income Management fees and setvice charges SLJPPOrt Club Membership Event sponsorship Other income 84,422 10,606 300 22,953 50,530 11.922 300 21.680 2,643 118,281 87,075 INVESTMENT INCOME 2024 2023 Interest receivable on fixed asset investments Dividend income Property income distribution dividend 3.181 8,139 548 2,147 10,054 618 11,868 12.819 RAISING DONATIONS AND LEGACIES 2024 2023 Staff costs Rent, rates and utilities Insurance Postsge and stationery Sundries Advertising Travel Website hosting Professional fees Training & networking fee5 Room hi and event costs Accountancy Subscriptions Bank charges Investrnent management costs Depreciation Interest payable and similar charges Support costs 26,811 3.471 1.304 439 1.157 6,535 1.415 3,858 27,898 20,769 3,601 1,774 533 114 5,753 697 5,322 33,216 2,637 16,469 2,502 306 1671 3,865 1,191 17,267 2,858 415 12 3,801 1,160 3,660 2,580 102,748 101,268 Page 13 continued.
Community Foundation for Wakefield Notes to the Financial Statement5- continued for the Year Ended 31 March 2024 CHARITABLE A1VITIEs COSTS Grant funding of activities Isee note Direct Costs 71 Totals G¥assroots Fuel Povertv Wakefield Fund Haribo Happine55 Together Prosper Fund Care Packages 6,901 27,750 6.055 53,705 300 6,901 27,750 6,055 53,705 300 2.444 2,444 94,711 97.155 GRATrffS PAYABLE 2024 2023 Grassroots Endowment Fuel Poverty Wakefield Fund Haribo Happiness Together Prosper Fund 6,901 27,750 6,095 53,705 300 5,605 24,000 36,407 94,711 66,012 The total grant5 paid to institutions durtn8 the year was a5 follows.. 2024 2023 The Well Project Carers Wakefield and District Featherstone Rovers Foundation Wakefield Council Fuel Poverty Management Fee - SuNiving Winter Fund rigers Trust Management Fee- Endowment Fund Trinity Mission Dial Wood Carriage Driving for the Disabled GROW Wakefield Haribo Happiness Together Management Charge Go Pop CIC Speak With It Blossom Training Empath Action CIC Open Country The Creative Art House Senior Citizens Leed5 United Foundation Canal & River Trust ManaÉement Fee- Wakefield Fund Havercroft & Ryhill Community Learning Smawthorne Community Church Wakefield Street Kitchen Wrenthorpe Assist Airedale Foodbank Management Fee- Prosper Fund 200 2.986 5,000 24,000 5,000 25,000 2,750 4,995 6,901 1,000 5,605 2,265 4,905 6,318 4,997 4,986 4,950 4,997 4,892 4,925 4,920 4,965 4,987 4,085 4.939 5.000 655 200 1,000 1,000 1,000 1,000 300 94,711 66,012 Page 14 continued...
Community FoLtndation for Wakefield Notes to the Financial Statements- continued for the Year Ended 31 Marth 2024 NET INCOMEIIEXPENDITURE) Net income/lexpenditurel is stated after chargingllcreditingl= 2024 2023 Depreciation- owned assets 1,160 1,191 TRusfEES' REMUNERATION AND BENEFITS There were no trustees, remunefation or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. io. STAFF COSTS The average monthly number of employee5 during the year was as follows.. 2024 2023 Shop Office No ernployees received emoluments in excess of £60.000. Contributions to the defined contribution pension scheme during the year were £72512023- £3551. At the balance sheet date outstanding contributions were £32612023.. £421. ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted funds Endowment funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacie5 31,913 86,655 118,568 Other trading activities Investment income 86,967 108 87,075 12,819 12.819 Total 118,880 86.763 12,819 218.462 EXPENDITURE ON Raising funds Raising donations and legacies Other trading activities 97.403 38.218 3,865 101,268 38,218 135,621 3,865 139.486 Charttable activities Grassroots Endowment Fuel Povertv Haribo Happine$5 Together 5,605 5,605 24.000 36,407 24,000 36,407 Totsl 135.621 60.407 9,470 205.498 Page 15 continued.
Community Foundation for Wakefield Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted fund funds Endowment funds Total funds Net galnsll1055esl on investrnents 140,8531 140,8531 NET INCOMEIIEXPENDITUREI Transfers between funds 116.7411 26,356 6.893 137,5041 16,8931 127,8891 Net movement in funds 116,7411 33,249 144.3971 127,8891 RECONCILIATION OF FUNDS Total funds brought forward 53,561 89,622 495,719 638,902 TOTAL FUNDS CARRIED FORWARD 36,820 122,871 451.322 611,013 12. TANGIBLE FIXED ASSETS Computer equipment COST At l April 2023 and 31 March 2024 3.996 DEPRECIATION At l April 2023 Charge for yèar 2,290 1,160 At 31 March 2024 3,450 NET BOOK VALUE At 31 March 2024 546 At 31 March 2023 1,706 13. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2023 Additions Disposa15 Revaluations 451,063 11.868 115,7591 33,697 At 31 March 2024 480,869 NET BOOK VALUE At 31 March 2024 480,869 At 31 March 2023 451,063 There were no investrnent assets outside the UK. Page 16 continued...
Community Foundation for Wakefield Notes to the Financial Statements. continued for the Year Ended 31 March 2024 13. FIXED Ass INVESTMENTS- continued 2024 2023 Rathbones Investment Management 480,869 451,063 480,869 4SI,063 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Gift aid tax recoverable Prepayments and accrued income 5,139 150 800 150 2,289 2,439 6.089 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Social secvrity and other taxes Other creditor5 2,700 11,930 1,157 12,002 14,630 13,159 During the year the Foundation received advanced Income in connection with events scheduled for after the balènce Sheet date. this 15 recognised in deferrèd income until the Foundation 15 entitled to the income. There w35 no deferred income in the prior year. 16. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due a5 follow5.. 2024 2023 Within one year Between one and five years 86 432 86 432 Page 17 continued...
Community Foundation for Wakefield Notes to the Financial Statements- continued for the Year Ended 31 Mar¢h 2024 17. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestrlaed funds General fund 36,820 12,354 49,174 Restrlcted funds Ftjel Povertv Elderly Persons, Social Isolation Fund Yorkshire Health Charity Fund Sir Rodney Walker Fund Women's Fund Wakefield Fund Haribo Happiness Together Barratt Fund Prosper Fvnd Landsec Fund Mazars Fund Arnold Clark Fund 27,358 23,803 6,191 2,390 12,925 6,551 43,653 18.9821 1,189 19,565 23.803 8.569 2,693 14,113 496 19.949 1.108 28 2,420 750 1,500 2,378 303 1,188 16,0551 123,7041 1.108 28 2,420 750 1,500 122,871 132,9351 5,058 94,994 Endowment funds Gra$5 Roots 451.322 34,863 15.0581 481,127 TOTAL FUND5 611.013 14,282 625,295 17. MOVEMENT IN FUNDS- continued Net movement in funds. included In the above are as follows.. Incoming resource5 Resources expended Gains and 1055es Movement in funds Unrestrlcted fund5 General fund 146.812 1133,4581 12,354 Restricted funds Fuel Povertv Yorkshire Health Charity Fund Women's Fund Wakefield Fund Haribo Happine55 Together Barratt Fund Prosper Fund Landsec Fund Mazars Fund Arnold Clark Fund 18.768 127,7501 18,9821 16,0551 153,7051 13921 12,2721 1801 16,0551 123,7041 1.108 28 2,420 750 1,500 30,001 1,500 2,300 2,500 750 1,500 57,319 190,2541 132.9351 Endowment funds Gra$5 Roots 11,868 110.7021 33,697 34.863 TOTAL FUNDS 215.251 1234,6661 33,697 14,282 Page 18 continL¢ed...
Community Foundation for Wakefield Notes to the Financial Statements- continued for the Year Ended 31 March 2024 17. MOVEMENT IN FUNDS. contlnued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unre#ritted funds General fund 53,561 116.7411 36,820 Restricted funds Fuel Poverty Elderly Persons, Social Isolation Fund Yorkshire Health Charity Fund Sir Rodney Walker Fund Women's Fund Wakefield Fund Haribo Happine55 Together 22,975 23,803 2,952 1,976 11.305 6,551 20.060 2,763 1,620 27,358 23,803 6,191 2,390 12,925 6,551 43,653 3,239 414 1,620 23,593 89,622 26,356 6,893 122,871 Endowment funds Grass Roots 495,719 137,5041 16,8931 451,322 TOTAL FUNDS 638,902 127.8891 611,013 Comparative net movement in funds, included in the above are as follows: Incoming resourees Resources expended Gains and losses Movement in fund5 Unrestricted funds General fund 118,880 1135,6211 116,7411 Restrirted funds Fuel Poverty Haribo Happiness Together 26,763 60,0(XI 124,0001 136,4071 2,763 23,593 86,763 160,4071 26.356 Endowment fund5 Grass Roots 12,819 19,4701 140,8531 137,5()41 TOTAL FUNDS 218,462 1205.4981 140,8531 27,8891 Purpose of Restricted Funds Fuel Pove Fund Each year a campaign is run to raise money to help older and vulnerable people to stay warm and fed during the winter months. The campaign began as a vehicle for generous pensioners to 're-cycle' their winter fuel paymènt5 and has progressively developed into a givlng portal for anyone who want5 to help vulnerable people. Cornmunity Foundations have significant local reach and distribute all donations to people in need. Those donating nationally can request that their donation is forwarded to their local Community Foundation if they wish. Elderl PÈrsons Social 1501ation Fund This fund was stsrted in 2016 following an anonymous donation of £1SOk to be devoted to.. 'helping Older people overcome loneliness and thu5 make a bigger contribution to society" but with very few other strings attached. Rounds I to 111 ère now tomplete. Initially, £30k wa5 Utilised as match funding for the Haribo Happiness Together Fund in year I 12022-231 but for the second year match fundin8 was raised from another SOLtrce. As a result a residual balance has been Page 19 continued...
Communlty FoundatFon for Wakefield Notes to Ihe Financlal Statements- continued forthe Year Ended 31 Marth 2024 17. MOVEMENT IN FUNDS- continued retained and will be used to support similar activity, as and when required. Women's Fund A new Women's Fund was established in the spring of 2019. The purpose of the fvnd is to support Women and Young Girls who are in need and help them top achieve their full potential. Following a lunch at Hatfeild Hall. 3 number of people signed up to becorne founder-donors with a very generous donation of £5k from Irene Dorner, a committed philanthropist who comes from the North East and has helped their Community Foundation in a similar way. A review is currently underway to assess how best to provide support where it is rnost needed, with a view to launching a new programme later in the current year. Wakefield Fund This fund was established in the sprinB of 2020 and funded Irom trading profit5 frorn the retail outlet in the Trinity Walk Shopping Centre - the Community Give Box - which opened in November 2019. Due to the Coronavirus Pandemic the fund was paused in April 2020 and resumed in April 2021 before pausing again in April 2022. Trvstees have established that this fund will be devoted to providing small grants to community group5 and individuals who find it difficult to source support elsewhere. Endowment Funds From the Foundation's launch in 2008 the organisation participated in the Gra55roots Grant Prograrnme, part of which was an Endowment Match Challenge. This challenge was one of the first of its kind in the UK and was funded by the then Office of the Third Sector in the Cabinet Office. The Wakefield Foundation raised £365,276 thro%Jgh the endowrnent match challenge, the value of which has subsequently moved in line with change5 in market value. Rathbones Investment Management are the Foundation's investment adviser5 and charge a management fee of 0.7% annually l+ VATI on the fund value. WDHCS Yorkshire Health Chari Wakefield District Hospitals Contributory Scheme contributed £75k to the Foundation's Endowment Fund and this was rnatched by the Governrnent of the day's Grassroots Grant5 Endowrnent Challenge Fund. The annual income accruing to the fund from its share of the interest earned as part of the endowment is being held by the Foundation for the purpose of awarding grants. WDHCS asked that the interest accumulated until such time as it reached at least £IOk. at which point discussion5 would take place as how be51 to use the funds. Sir Rodne Walker Fund Sir Rodney Walker. the Foundation'5 president. was also one of the first to contribute to the Endowment Fund with a donation of £IOk which was matched with £IOk from governrnent. Sir Rodney has asked that the share of endowment interest earned by the fund should be retained until such time a5 he decides how he wishes thi5 to be spent. Haribo Ha iness To ether Fund The Haribo Happiness Together Fund was launched during 2021, with a core aim to support projects that brought together older and younger generations. so that relationship5 could be forged and various skills shared between the two groups. The first rounds of the fund were active in 2022123 and grants for 2023124 were approved in early April this year. Barratt Fund This fund wa5 e5tabli5hed to assist in the provision of items to include in care packages and support for residents in need i the Wakefield District when are unable to provide them with the items that they require such as duvets, kitchen appliances and crockery from the donations we have received. Pros er Fund This fund was estsblished to assist in the provision of items to include care packages and 51JPPOrt for residents in need In the Wakefield Distrirt when are unable to provide them with the items that they require such as duvets, kitchen appliances and crockery from the donations we have received. Landsec Fund This fund was established to assist in the provision of items to include in care packages and support for residents in need in the Wakefield Distrirt when are unable to providè them with the items that they require such a5 duvets, kitchen appliance5 antl crockery from the donation5 we have received. Page 20
Community Foundation for Wakefield Notes to the Finan¢ial Statements- continued for the Year Ended 31 March 2024 17. MOVEMENT IN FUN05- continued Mazars Fund Thi5 fund was established to assist in the provision of item5 to include in care packages and support for residents in need in the Wakefield District when are unable to provide them with the item5 that they require such ss duvets, kitchen appliances and crockery from the donations we have received. Arnold Clark Fund Thi5 fund was established to assist in the provision of items to include in care packages and support for resident5 in need in the Wakefield District when are unable to provide thern with the item5 that they require such as duvets, kitchen appliances and crockery from the donations we have received. IB. RELATED PARTY D15CLOSURES During the year the charity made a grant to Go POP CIC of £4,99712023'. £4,997). Go POP CIC is a Community Interest Company in which the trustee J Fan has control. No other Trustees are connected to any bodies that received grants from the charity for the years ending 31st March 2023 or 31st March 2024. Dvring the year the charity received accountancy services relating to the preparation of the financial statements and regular management accounts from The Sanders Partnership costing £2,85812023.. £2,502), it also received payroll services C05ting £475 12023.. £4321. and access to bookkeeping 50ftware for £79 12023-. £1201. At the balance sheet date £511 12023.. £3151 was owing. The Sanders Partnership is a trading name of Sanders Geeson Limited which 15 a company in which the trustee M Szczepanski has significant influence. There are no other related party transactions. 19. ROLE OF VOLUNTEERS Volunteer5 are playing an increasin8 role in the Foundation's activities. In addition to supporting the retail shop Manager5 at the Community Give Box during the opening hours, other volunteers provide support with marketing and Social media, administration and event management. As the organisation broadens its reach and develops as a community resource, other roles are likely to be added including technical supporti photography, and the collection and distributlon of donated goods. Page 21
Cornmunity FoLTrndation tor Wakefield Detailed Statement of Hnandal Activities for the Year Ended 31 Marth 2024 2024 2023 INCOME AND ENDOWME5 Donations and legacies Donations Gift aid Grants 30,986 814 54,050 54,733 620 63,215 85.850 118,568 Other trading activities Shop income Management fees and service charge5 Support Club Membership Event sponsorship Other income 84,422 10.606 300 22.953 50,530 11,922 300 21,680 2,643 118,281 87,075 Investment income Investrnent income 11,868 12,819 Total incoming res<Jurces 215,999 218,462 EXPENDITURE Raising donatlons and legacies Wages Pensions Rent. rates and utilities Insurance Postage and stationery Sundries AdvertisinE Travel Website hosting Professional fees Training & networking fees Room hire and event costs Accountsncv Subscriptions Bank th3rges Investment management costs Cornputer equipment Interest payable 26,251 560 3,471 1,304 439 1,157 6,535 1,415 3,858 27,898 20,449 320 3,601 1,774 533 114 5.753 697 5,322 33,216 2.637 16,469 2.502 306 1671 3.865 1,191 17,267 2,858 415 12 3,801 1,160 99,088 98,688 Other trading artivtties Purchases Other direct cost5 Wages Pensions rd machine charges Marketing Carried forward 103 41 24.625 35 876 3,045 28,725 105 27,991 165 1,181 25 29.467 This page does not form part of the ststutory financial staternents Page 22
Comrnunity Foundation for Wakefield Detailed Statement of Financial Activities for the Year Ended 31 March 2024 2024 2023 Other Irading activities Brought fOnard Rent, rate5 and utilities Repairs Sundry expen5e5 29,467 5,274 627 143 28,725 8,285 702 506 35,511 38,218 Charitable attivities Item5 to donate Grants to institutions 2.444 94,711 66,012 97,155 66.012 Support costs Governance costs Independent examiners fee 3,660 2.580 Total resources expended 234,666 205.498 Net leKpenditure}fincome before galns and losses 119.4151 12,964 Reallsed recognised gains and losses Realised gain5lllossesl on fixed asset investments 33.697 140.8531 Net income/leMpenditure) 14,282 127,8891 Thi5 page doe5 not form part of the 5tstutory financial Statements Page 23
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