## **WSH Foundation** Registered Charity No. 1125228 Report of the Trustees and Financial Statements For the year ended 31 December 2020 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Contents** |Administrative Information|1| |---|---| |Report of the Trustees|2-5| |Independent Auditor’s Report|6-10| |Statement of Financial Activities|11| |Balance Sheet|12| |Cashflow Statement|13| |Notes to the Financial Statements|14-22| WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Administrative information** ## **Registered name** WSH Foundation ## **Other names** BaxterStorey Foundation Benugo Foundation Caterlink Foundation Holroyd Howe Foundation Portico GivingBack Foundation Searcys Foundation ## **Trustees** A Storey M Bradley C Mahony B Warner J Bennett ## **Governing document** Trust Deed dated 9 July 2008 ## **Bankers** Royal Bank of Scotland PO Box 39952 2 1/2 Devonshire Square London EC2M 4XJ ## **Independent Auditors** Saffery Champness LLP St John’s Court Easton Street High Wycombe HP11 1JX ## **Principal office** 300 Thames Valley Park Drive Reading Berkshire RG6 1PT **Registered charity number** 1125228 1 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Report of the trustees** The trustees of WSH Foundation (the “Foundation”) are pleased to present their report and financial statements for the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Trust Deed, the Charities Act 2011, The Charities (Accounts and Reports) Regulations 2008 and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS102). ## **Structure, governance and management** The WSH Foundation is a registered charity set up during 2008 to channel charitable funds towards causes that are consistent with the core values of WSH Investments Limited (“WSH”) and its subsidiary companies. The Foundation’s typical activities range from supporting charitable causes in local communities, awarding hospitality scholarships, supporting charities in the hospitality sector and assisting those charities that are important to WSH employees, customers and clients. During 2020, as a direct result of the Covid-19 pandemic, the Foundation focused its efforts and resources on material fundraising for and ultimately the provision of meals to NHS and key workers via the Feed NHS scheme. The trustees do not receive any financial benefit from the charity. Since inception, any costs/management time associated with the operation and day-to-day management of the Foundation has been borne by WSH entities. In accordance with charity accounting regulations, these donated services have been valued at £3,600 for the year, recognised in these accounts as both a cost to the charity and as a balancing donation received. The only other non-direct charitable expense in the year was £5,400 for the independent audit of these accounts by Saffery Champness. The power to appoint new trustees is vested in the trustees. The trustees of the Foundation include directors of WSH and its subsidiary companies. ## **Objectives and activities** The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and setting the grant making policy for the year. The Foundation carried out these objects by providing grants to institutions and individuals for charitable causes in accordance with the objects of the charity. ## **Achievements and performance** In the year ended 31 December 2020, the charity raised funds of £1,562,324 and made grants to various charitable causes totalling £1,133,177. Total funds raised by the charity since its establishment to the end of December 2020 stand at £3.95m. Cumulative donations by the Foundation to the same date amount to £3.23m. The Foundation raised the majority of its funds primarily for the charity’s Feed NHS scheme. In addition to these donations further funds were raised by the Down to Earth coffee initiative, whereby a penny per cup of coffee sold by BaxterStorey is donated to the Foundation, and individual charitable events. Further charitable funds are raised by WSH entities and team members. However, the amounts disclosed within these accounts relate solely and exclusively to the activities of the WSH Foundation and corresponding cash flows. 2 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Report of the Trustees** _(continued)_ Grants made during 2020 included: - £1,116,116 for the Feed NHS scheme, a not for profit campaign founded by Damian Lewis, Helen McCrory, Matt Lucas and John Vincent with the sole aim of raising money to feed NHS and key workers. - £3,228 to the Nicholls Spinal Foundation, who fund research and development into curing spinal cord injury, covering the laboratory, clinical and rehabilitation stages; - £3,150 to the Springboard Charity, a charity who work towards the advancement in life and education of young people under 25 through programmes to assist them to obtain work. To relieve unemployment for the public benefit through programmes to unemployed persons seeking employment in travel, tourism, leisure and hospitality. ## **Financial review and reserves policy** The charity reported net income of £429,147 for the year (2019: net deficit £13,926). The total unrestricted funds available at 31 December 2020 are £420,851 (2019: £279,624). In March 2020, Feed NHS was launched, a not for profit campaign founded by Damian Lewis, Helen McCrory, Matt Lucas and John Vincent with the sole aim of raising money to feed NHS and key workers. WSH Foundation supported this campaign by raising substantial funds from third party donations and funding WSH group companies Baxter Storey and We Prepare to supply free meals to NHS staff. BaxterStorey Limited, working in coalition with Mealforce and Feed our Frontline, serviced 90 NHS hospitals and delivered over 40,000 free meals per day to the NHS. We Prepare produced the meals for onward distribution. A similar initiative was created for Scottish hospitals with BaxterStorey working in partnership with a key client utilising the client’s facilities in their Edinburgh campus. WSH’s contribution to these initiatives during the first lockdown was the provision of over 100,000 free meals to the NHS during the period up to the end of May 2020. Following the success of these projects, WSH continued to work in partnership with Mealforce to provide free hot meals to NHS staff in critical care and COVID rehabilitation units. The WSH Group companies’ efforts continued to be fully funded through the WSH Foundation. From June 2020, an average of over 13,000 meals per week were being produced by WSH through to the end of 2020, taking the total to over half a million free meals provided during 2020. The support of the Feed NHS initiative has resulted in a considerable increase in activity by WSH Foundation. The policy of the charity is to hold sufficient reserves to cover its existing liabilities and to give the trustees enough flexibility to support any new worthy causes that align with the charity’s aims. The trustees of the charity practice prudent management of reserves ensuring the assets will not fall into deficit at any point. As the majority of payments by the charity are direct grants (99% of total expenditure in 2020), the trustees can exercise effective control over the cash outflows of the charity. 3 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Report of the Trustees** _(continued)_ ## **Future Plans** Support for the Feed NHS continued into 2021, efforts further accelerated with the third lockdown, alongside the commencement of support to the mass vaccination centres, with the provision of meal bags to the workers and volunteers. WSH Foundation intends to return to the levels of activity prior to the COVID-19 crisis, supporting charitable causes in local communities, awarding hospitality scholarships and supporting charities in the hospitality sector, once the third lockdown is lifted. ## **Risk Management** The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. Major risks, for this purpose, are those that may have a significant effect on: - Financial sustainability, including stability and security of income; - Achievement of our aims and objectives; - Meeting the expectations of our beneficiaries or supporters. The following framework is key to ensuring adequate risk assurance: - Procedures for grant approvals; - A clear structure of delegated authority and control; - Operating procedures for grant payments; - Monitoring and review of cash reserves to ensure grant proposals/obligations can be fulfilled. ## **Statement of trustees’ responsibilities** The trustees are responsible for: - Keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the funds held on trust and to enable them to ensure that the accounts comply with requirements in the Charities Act 2011; - Establishing and monitoring a system of internal control; and - Establishing arrangements for the prevention and detection of fraud and corruption. The trustees 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. 4 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Report of the Trustees** _(continued)_ The trustees are required under the Charities Act 2011 to prepare accounts for each financial year. In preparing those accounts, the trustees are required to: - Make judgements and estimates which are reasonable and prudent; - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; - State that the accounts are prepared on a going concern basis. The trustees confirm that they have met the responsibilities set out above and complied with the requirements for preparing the accounts. The accounts set out on pages 11 to 22 attached have been compiled from and are in accordance with the financial records maintained by the trustees. Approved by the trustees on 28[th] October 2021 and signed on their behalf by: **M Bradley** Trustee 5 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Independent auditor’s report To the trustees of WSH Foundation** ## **Opinion** We have audited the financial statements of WSH Foundation for the year ended 31 December 2020 which comprise a statement of financial activities, balance sheet, 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: - give a true and fair view of the state of the charity’s affairs as at 31 December 2020 and of its incoming resources and application of resources for the year then - ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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. 6 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Independent auditor’s report To the trustees of WSH Foundation** _(continued)_ ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance 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: - the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements; or - the charity has not kept sufficient accounting records; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Other matters we are required to address** The year to 31 December 2020 is the first period for which the financial statements of the charity have been audited. Comparative figures for the year ended 31 December 2019 were subject to an independent examination but not audited. 7 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 **Independent auditor’s report To the trustees of WSH Foundation** _(continued)_ ## **Responsibilities of trustees** As explained more fully in the Trustees’ Responsibilities Statement set out on pages 4 and 5, the trustees 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 charity or to cease operations, or have no realistic alternative but to do so. ## **Auditors’ responsibilities for the audit of the financial statements** We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act. 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 auditors’ 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below. ## Identifying and assessing risks related to irregularities: We assessed the susceptibility of the charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with trustees and updating our understanding of the sector in which the charity operates. Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales. 8 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Independent auditor’s report To the trustees of WSH Foundation** _(continued)_ ## Audit response to risks identified: We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charity’s records of breaches of laws and regulations and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance. During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for our audit work, for this report, or for the opinions we have formed. Andrew Watkinson (Senior Statutory Auditor) **For and on behalf of Saffery Champness LLP** 9 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 Saffery Champness LLP Chartered Accountants St John’s Court Easton Street High Wycombe Buckinghamshire HP11 1JX Statutory Auditors ## Date: 28 October 2021 Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 10 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Statement of financial activities** _(incorporating income and expenditure account)_ _**for the year ended 31 December 2020**_ |_Note_
Unrestricted
funds
£
**Income from:**
_Generated funds_
Voluntary income
3
158,288
**Total income**
158,288
**Expenditure on:**
_Charitable activities_
Grants payable
_4_
(17,061)
**Total expenditure**
(17,061)
**Net income/(deficit)**
141,227
**Transfers from**
**unrestricted funds**
-
**Net income/(deficit)**
**after transfers**
141,227
**Total funds brought**
**forward**
279,624
**Total funds carried**
**forward**
_11_
420,851|Restricted
funds
**Total funds**
**2020**
Unrestricted
funds
£
**£**
£
1,404,036
**1,562,324**
126,649
1,404,036
**1,562,324**
126,649
(1,116,116)
**(1,133,177)**
(142,184)
(1,116,116)
**(1,133,177)**
(142,184)
287,920
**429,147**
(15,535)
-
**-**
-
287,920
**429,147**
(15,535)
12,057
**291,681**
295,159
299,977
**720,828**
279,624|Restricted
funds
Total funds
2019
£
£
1,609
128,258
1,609
128,258
-
(142,184)
-
(142,184)
1,609
(13,926)
-
-
1,609
(13,926)
10,448
305,607
12,057
291,681| |---|---|---| All of the activities of the charity are classed as continuing. The charity has no recognised gains or losses other than the results for the year as set out above. 11 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Balance sheet** _**at 31 December 2020**_ |||**31 December**|31 December| |---|---|---|---| ||_Note_|**2020**|2019| |||**£**|£| |**Current assets**|||| |Debtors|_8_|**148,957**|550| |Cash at bank and in hand||**653,833**|345,078| |||**802,790**|345,628| |**Creditors:**amounts falling due within one year|_9_|**(81,962)**|(53,947)| |**Net current assets**||**720,828**|291,681| |**Net assets**||**720,828**|291,681| |**Total charity funds**|||| |Unrestricted funds|_11_|**420,851**|279,624| |Restricted funds|_11_|**299,977**|12,057| |||**720,828**|291,681| The notes on pages 14 to 18 form part of these financial statements. These financial statements were approved by the Trustees on 28[th] October 2021 and were signed on their behalf by: **M Bradley** Trustee 12 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Cashflow Statement** ## _**For the year ended 31 December 2020**_ |_Note_
**31 December**
**2020**
31
**£**
**Net Cash Inflow from operating activities**
_10_
**308,755**
**Returns on investments and servicing of finance**
**-**
**Capital expenditure and financial investment**
**-**
**Net cashinflow before management of liquid resources and finance**
**308,755**
**Management of liquid resources**
**-**
**Increase/(decrease) in cash in the year**
**308,755**
Net cash resources at 1stJanuary 2020
**345,078**
**Net cash resources at 31stDecember 2020**
**653,833**|December
2019
£
157,856
-
-
157,856
-| |---|---| ||157,856
187,221
345,078| 13 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** ## **1 Accounting policies** The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements. ## _**(a) Basis of preparation**_ The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP (FRS102)) and applicable UK Accounting Standard, the Financial Reporting Standard, section 102 (FRS 102), and the Charities Act 2011. The financial statements are prepared in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The WSH Foundation meets the definition of a public benefit entity under FRS 102. There are no material uncertainties about the charity’s ability to continue as a going concern. ## _**(b) Fund structure**_ Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor. All other funds are unrestricted and available for the charity to use for its purposes at the discretion of the trustees and in accordance with the governing document. ## _**(c) Income**_ Income is recognised once the charity has entitlement, it is probable that the income will be received and the monetary value of the income can be measured with sufficient reliability. ## _**(d) Expenditure**_ Expenditure is included in the SOFA on an accruals basis, inclusive of any VAT that cannot be recovered. Grants payable are payments made to third parties in furtherance of the charitable objects of the Foundation. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Foundation. ## _**(e) Allocation of support costs**_ Support costs are allocated to charitable activities on a direct basis only. 14 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ ## _**(f) Debtors**_ Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## _**(g) Cash at bank and in hand**_ Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## _**(h) Creditors and provisions**_ Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## _**(i) Financial instruments**_ The charity only has financial assets and liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 15 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ ## **2 Related party transactions** Donations to the WSH Foundation are recieved from the WSH group of companies. The trustees of the Foundation are also directors of companies within the WSH group. During the year, donations of £153,999 _(2019: £121,755)_ were received by the Foundation from BaxterStorey Limited, a member of the WSH group. Included within debtors as at 31 December 2020 were the following amounts owed to WSH Foundation by other companies within the WSH group. These amounts have been settled post year end. ||**31 December**|31 December| |---|---|---| ||**2020**|2019| ||**£**|£| |BaxterStorey Limited|**148,135**|-| |Holroyd Howe Limited|**789**|517| |BaxterStorey Scotland Limited|**33**|33| ||**148,957**|550| Included within creditors as at 31 December 2020 were the following amounts owed by WSH Foundation to other companies within the WSH group. These amounts have been settled post year end. ||**31 December**|31 December| |---|---|---| ||**2020**|2019| ||**£**|£| |We Prepare Ltd|**76,562**|-| |BaxterStorey Limited|**-**|1,365| During the year to 31 December 2020, grants were made to We Prepare Limited and Baxter Storey Ltd to the value of £1,074,650 _(2019: £nil)_ and £41,466 _(2019: £nil)_ respectively to fund the Feed NHS scheme. During the year, £3,150 _(2019: £1,125)_ was paid to The Springboard Charity, a Charity that has common Trustees with the WSH Foundation. During the year, £3,228 _(2019: £2,010)_ was paid to The Nicholls Spinal Injury Foundation, a Charity that has common Trustees with the WSH Foundation. 16 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ ## Note 2 _(continued)_ During the year to 31 December 2020, grants to the value of £145 were made to the Gold Service Foundation, a charity which shares a common trustee with the WSH Foundation _(2019: £50,118)_ . All costs of operation and day-to-day management of the Foundation are borne by WSH entities. These donated services have been valued at £3,600 for the year _(2019: £3,600)_ , recognised in these accounts as both a cost to the charity and as a balancing donation received. ## **3 Income** |Unrestricted
funds
£
**_Voluntary income_**
Feed NHS fundraising
-
BaxterStorey Limited
153,999
Action Against Hunger fundraising
-
Millie’s Trust fundraising
-
Bullies Out fundraising
-
Other charitable fundraising
689
Donated services
3,600
158,288|Restricted
funds
**Total funds**
**2020**
Unrestricted
funds
£
**£**
£
1,400,000
**1,400,000**
-
-
**153,999**
121,755
46
**46**
-
-
**-**
-
-
**-**
-
3,990
**4,679**
1,294
-
**3,600**
3,600
1,404,036
**1,562,324**
126,649|Restricted
funds
Total funds
2019
£
£
-
-
-
121,755
287
287
153
153
1,169
1,169
-
1,294
-
3,600
1,609
128,258|Restricted
funds
Total funds
2019
£
£
-
-
-
121,755
287
287
153
153
1,169
1,169
-
1,294
-
3,600
1,609
128,258| |---|---|---|---| ||||128,258| 17 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ ## **4 Expenditure** - **4 (a) Grants payable** |Unrestricted
funds
£
**_Grants payable_**
_in respect to educational and training activities_
Feed NHS
-
Gold Service Scholarship
-
Woodland Trust
-
Beyond Food Foundation
-
Ocean 5 Sponsorship
-
_in respect to other charitable activities_
Other charitable donations
8,061
_Support Costs - note 4 (b)_
9,000
**_Total grants payable_**
17,061|Restricted
funds
**Total funds**
**2020**
Unrestricted
funds
£
**£**
£
1,116,116
**1,116,116**
-
-
**-**
50,118
-
**-**
42,460
-
**-**
28,000
-
**-**
10,000
-
**8,061**
6,660
-
**9,000**
4,946
1,116,116
**1,133,177**
142,184|Restricted
funds
Total funds
2019
£
£
-
-
-
50,118
-
42,460
-
28,000
-
10,000
-
6,660
-
4,946
-
142,184| |---|---|---| 18 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ ## **4 (b) Support costs** |Audit Fee
Independent examination fees
Donated services|Unrestricted
funds
£
5,400
-
3,600
9,000|Unrestricted
funds
£
5,400
-
3,600
9,000|Restricted
funds
£
-
-
-
-|**Total funds**
**2020**
**£**
**5,400**
**-**
**3,600**
**9,000**|Unrestricted
funds
£
-
1,346
3,600
4,946|Unrestricted
funds
£
-
1,346
3,600
4,946|Restricted
funds
Total funds
2019
£
£
-
-
-
1,346
-
3,600
-
4,946| |---|---|---|---|---|---|---|---| ||||||||| ||||||||| Support costs consist of governance costs relating to the independent examination fee and donated services relating to administrative and treasury activities, all of which are allocated directly against the charitable activity of grants payable against unrestricted funds only. There are no other fees associated with support costs. Grants payable were made to institutions only. No grants were payable to individuals. ## **5 Independent Auditor’s remuneration** Fees of £5,400 including irrecoverable VAT have been charged in respect to the independent Audit of the Report of the Trustees and Financial Statements for the year _(2019: £1,346 in respect to independent examination fees)_ . ## **6 Trustees’ remuneration** No trustees received any remuneration or expenses in relation to their services to the Foundation during either year. ## **7 Staff numbers and costs** The Foundation employed no staff during either year. All costs of running the Foundation are borne by WSH group entities. 19 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 |**Notes to the financial statements**_(continued)_
**8**
**Debtors**
Amounts due from related parties
The amounts above were settled post year end.
**9**
**Creditors: amounts falling due within one year**
Accruals
Amounts due to related parties
Grants Payable
**10**
**Notes to the Cashflow Statement**
Reconciliation of net movement in funds to net cashflow from operating activities
Net movement in funds for the year
(Increase)/decrease in debtors
(Increase)/decrease in creditors
(Increase)/decrease in grants payable
**Net Cash Inflow from operating activities**|**2020**
**£**
**148,957**
**2020**
**£**
**5,400**
**76,562**
**-**
**81,962**
**2020**
**£**
**429,147**
**(148,406)**
**78,014**
**(50,000)**
**308,755**|2019
£
550
2019
£
2,582
1,365
50,000| |---|---|---| |||53,947| |||2019
£
(13,926)
120,308
1,474
50,000
157,856| The net debt is made up entirely by the cash balance outlined in the Statement of cash flows, and all movements in the year were cash flow changes. 20 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ ## **11 Total charity funds** |Fund balances
b/fwd
£
_Restricted funds:_
Feed NHS
-
Action Against Hunger
3,430
Amazing Alice
234
Bullies Out
3,305
Millie’s Trust
5,088
Other Restricted Funds
-
Total restricted funds
12,057
Unrestricted funds
279,624
Total charity funds
291,681|Incoming
resources
£
1,400,000
46
-
-
-
3,990
1,404,036
158,288
1,562,324|Resources
expended
£
(1,116,116)
-
-
-
-
-
(1,116,116)
(17,061)
(1,133,177)|**Fund**
**balances**
**c/fwd**
Fund balances
b/fwd
**2020 £**
£
**283,884**
-
**3,476**
3,143
**234**
234
**3,305**
2,169
**5,088**
5,088
**3,990**
-
**299,977**
10,448
**420,851**
295,159
**720,828**
305,607|Incoming
resources
£
-
287
-
1,169
153
-
1,609
126,649
128,258|Resources
expended
Fundbalances
c/fwd
£
2019 £
-
-
-
3,430
-
234
-
3,305
-
5,088
-
-
-
12,057
(142,184)
279,624
(142,184)
291,681|Resources
expended
Fundbalances
c/fwd
£
2019 £
-
-
-
3,430
-
234
-
3,305
-
5,088
-
-
-
12,057
(142,184)
279,624
(142,184)
291,681| |---|---|---|---|---|---|---| |||||||12,057
279,624| |||||||291,681| 21 WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2020 ## **Notes to the financial statements** _(continued)_ The restricted funds have been established for the following purposes: ## _Feed NHS_ Donations received in support of Feed NHS, providing meals for NHS and key workers. The funds held at 31 December 2020 have been expended in early 2021. ## _Action Against Hunger_ Donations received in support of Action Against Hunger, helping to save the lives of malnourished children and providing families with sustainable access to safe water and good nutrition. ## _Amazing Alice_ Donations received in support of Amazing Alice, helping families of children treated at Southampton’s paediatric oncology unit create lasting memories. ## _Bullies Out_ Donations received in support of Bullies Out, providing help, training, support and information to individuals, schools, youth and community settings affected by bullying. ## _Millie’s Trust_ Donations received in support of Millie’s Trust, funding free first aid training available to all, with particular emphasis on families with young children. 22