WSH Foundation Registered Charity No. 1125228
Report of the Trustees and Financial Statements
For the year ended 31 December 2022
WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2022
Contents
| Administrative Information | 1 |
|---|---|
| Report of the Trustees | 2-4 |
| Independent Auditor’s Report | 5-9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Cashflow Statement | 12 |
| Notes to the Financial Statements | 13-21 |
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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 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 2022
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 2022.
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 the WSH collection of businesses (CD&R and WSH JVco (UK) Limited (“WSH”) and 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.
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 £6,000 for the independent audit of these accounts by Saffery LLP and website support costs of £1,350.
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 2022, the charity raised funds of £124,025 (2021: £975,793) and made grants to various charitable causes totalling £73,957 (2021: £1,397,034) .
Total funds raised by the charity since its establishment to the end of December 2022 stand at £5.0m. Cumulative donations by the Foundation to the same date amount to £4.7m.
The foundation raises the majority of its funds from 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 outside of the WSH Foundation. 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 2022
Report of the Trustees (continued)
Grants made during 2022 included:
-
£34,000 for The Natasha Allergy Research Foundation, to help prevent and end allergic disease and to make a positive difference to the lives of all those living with allergic disease.
-
£25,015 to Solycafe LTDA, who work to provide English, Music, Dance and Computing education for young people in the Cajamarca Region of Peru.
-
£1,123 to the Nicholls Spinal Foundation, who fund research and development into curing spinal cord injury, covering the laboratory, clinical and rehabilitation stages.
Financial review and reserves policy
The charity reported a net income of £50,068 for the year (2021: net deficit £421,241). The total unrestricted funds available at 31 December 2022 are £333,562 (2021: £282,098) .
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 (85% of total expenditure in 2022), the trustees can exercise effective control over the cash outflows of the charity.
Future Plans
The WSH Foundation intends to continue supporting charitable causes in local communities and supporting charities in the hospitality sector.
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.
3
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Report of the Trustees (continued)
Risk Management (continued)
The following framework is key to ensuring adequate risk assurance:
-
Procedures for grant approvals;
-
A clear structure of delegated authority and control;
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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:
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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;
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Establishing and monitoring a system of internal control; and
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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.
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:
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Make judgements and estimates which are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts;
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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 10 to 21 attached have been compiled from and are in accordance with the financial records maintained by the trustees.
Approved by the trustees on 12 October 2023 and signed on their behalf by:
M Bradley
Trustee
4
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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 2022 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 2022 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.
5
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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:
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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.
Responsibilities of trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 4, 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.
6
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Independent Auditor’s Report To the trustees of WSH Foundation (continued)
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.
7
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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.
8
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Independent Auditor’s Report To the trustees of WSH Foundation (continued)
Saffery LLP Chartered Accountants St John’s Court Easton Street High Wycombe Buckinghamshire HP11 1JX
Statutory Auditors
Date: 12 October 2023
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
9
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Statement of Financial Activities (incorporating income and expenditure account) for the year ended 31 December 2022
| Note Unrestricted funds £ Income from: Generated funds Voluntary income 3 123,720 Total income 123,720 Expenditure on: Charitable activities Grants payable 4 (72,256) Total expenditure (72,256) Net income/(deficit) 51,464 Transfers from unrestricted funds - Net income/(deficit) after transfers 51,464 Total funds brought forward 282,098 Total funds carried forward 11 333,562 |
Restricted funds Total funds 2022 Unrestricted funds £ £ £ 305 124,025 130,389 305 124,025 130,389 (1,701) (73,957) (269,142) (1,701) (73,957) (269,142) (1,396) 50,068 (138,753) - - - (1,396) 50,068 (138,753) 17,489 299,587 420,851 16,093 349,655 282,098 |
Restricted funds Total funds 2021 £ £ 845,404 975,793 845,404 975,793 (1,127,892) (1,397,034) (1,127,892) (1,397,034) (282,488) (421,241) - - (282,488) (421,241) 299,977 720,828 17,489 299,587 |
|---|---|---|
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.
10
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Balance sheet at 31 December 2022
| 31 December | 31 December | ||
|---|---|---|---|
| Note | 2022 | 2021 | |
| £ | £ | ||
| Current assets | |||
| Debtors | 8 | 119,268 | 124,543 |
| Cash at bank and in hand | 238,953 | 181,719 | |
| 358,221 | 306,262 | ||
| Creditors:amounts falling due within one year | 9 | (8,566) | (6,675) |
| Net current assets | 349,655 | 299,857 | |
| Net assets | 349,655 | 299,587 | |
| Total charity funds | |||
| Unrestricted funds | 11 | 333,562 | 282,098 |
| Restricted funds | 11 | 16,093 | 17,489 |
| 349,655 | 299,587 |
The notes on pages 13 to 21 form part of these financial statements.
These financial statements were approved by the Trustees on 12 October 2023 and were signed on their behalf by:
M Bradley Trustee
11
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Cashflow Statement
For the year ended 31 December 2022
| Note 31 Net cash inflow/(outflow) from operating activities 10 Returns on investments and servicing of finance Capital expenditure and financial investment Net cash inflow/(outflow) before management of liquid resources and finance Management of liquid resources Increase/(decrease) in cash in the year Net cash resources at 1stJanuary 2022 Net cash resources at 31stDecember 2022 |
December 2022 31 December 2021 £ £ 57,234 (472,114) - - - - 57,234 (472,114) - - 57,234 (472,114) 181,719 653,833 238,953 181,719 |
December 2022 31 December 2021 £ £ 57,234 (472,114) - - - - 57,234 (472,114) - - 57,234 (472,114) 181,719 653,833 238,953 181,719 |
|---|---|---|
| (472,114) 653,833 |
||
| 181,719 |
12
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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.
13
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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.
14
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Notes to the financial statements (continued)
2 Related party transactions
Donations to the WSH Foundation are received 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 £120,000 (2021: £126,228) were received by the Foundation and payments of £3,641 (2021: £1,779) were made on behalf of the Foundation by BaxterStorey Limited, a member of the WSH group.
During the year, donations of £nil (2021: £1,396) were received by the Foundation and payments of £1,396 (2021: £2,400) were made on behalf of the Foundation by Holroyd Howe Limited, a member of the WSH group.
During the year, donations of £nil (2021: £61) were received by the Foundation from BaxterStorey Scotland Limited, a member of the WSH group.
Included within debtors as at 31 December 2022 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 2022 31 £ BaxterStorey Limited 119,268 BaxterStorey Scotland Limited - 119,268 |
December 2021 £ 124,449 94 |
|---|---|
| 124,543 |
Included within creditors as at 31 December 2022 were the following amounts owed by WSH Foundation to other companies within the WSH group. These amounts have been settled post year end.
| amounts have been settled post year end. | ||||
|---|---|---|---|---|
| 31 | December | 31 | December | |
| 2022 | 2021 | |||
| £ | £ | |||
| Holroyd Howe Limited | 1,396 | 1,005 | ||
| 1,396 | 1,005 |
15
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Notes to the financial statements (continued)
2 Related party transactions (continued)
During the year, £1,123 (2021: £5,698) was paid to The Nicholls Spinal Injury Foundation, a Charity that has common Trustees with the WSH Foundation.
During the year, grants to the value of £168 (2021: £131) were made to the Gold Service Foundation, a charity which shares a common trustee with the WSH Foundation.
In the prior year, grants were made to We Prepare Limited to the value of £1,208,096 to fund the Feed NHS/MealForce project.
In the prior year, £250,000 was paid to The Springboard Charity, a Charity that has common Trustees with the WSH Foundation.
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 (2021: £4,000) , 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/MealForce project fundraising - BaxterStorey Limited 120,000 BaxterStorey Scotland Limited - Children of the Mountain fundraising - Other charitable fundraising 120 Donated services 3,600 123,720 |
Restricted funds Total funds 2022 Unrestricted funds £ £ £ - - - - 120,000 126,228 - - 61 - - - 305 425 100 - 3,600 4,000 305 124,025 130,389 |
Restricted funds Total funds 2021 £ £ 844,008 844,008 - 126,228 - 61 1,396 1,396 - 100 - 4,000 845,404 975,793 |
Restricted funds Total funds 2021 £ £ 844,008 844,008 - 126,228 - 61 1,396 1,396 - 100 - 4,000 845,404 975,793 |
|---|---|---|---|
| 975,793 |
16
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
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/MealForce project - Gold Service Scholarship 168 Nicholls Spinal Injury Foundation 1,123 Solycafe LTDA 25,015 The Natasha Allergy Research Foundation 34,000 Springboard to 2022 - in respect to other charitable activities Other charitable donations 1,000 Support Costs - note 4 (b) 10,950 Total grants payable 72,256 |
Restricted funds Total funds 2022 Unrestricted funds £ £ £ - - 3,643 - 168 131 - 1,123 5,698 25,015 - 34,000 - - 250,000 1,701 2,701 - - 10,950 9,670 1,701 73,957 269,142 |
Restricted funds Total funds 2021 £ £ 1,127,892 1,131,535 - 131 - 5,698 - 250,000 - - - 9,670 1,127,892 1,397,034 |
|---|---|---|
17
WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2022
Notes to the financial statements (continued)
4 (b) Support costs
| 31 Audit Fee Donated services Website support |
December 2022 31 December 2021 £ £ 6,000 5,670 3,600 4,000 1,350 - 10,950 9,670 |
|---|---|
Support costs consist of governance costs relating to the audit fee, website support 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 £6,000 including irrecoverable VAT have been charged in respect to the Independent Audit of the Report of the Trustees and Financial Statements for the year (2021: £5,670) .
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.
18
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
| 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 The amounts due to related parties above have been settle post year end. 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 Decrease in debtors Increase/(decrease) in creditors Net cash inflow/(outflow) from operating activities |
2022 £ 119,268 2022 £ 7,170 1,396 8,566 2022 £ 50,068 5,275 1,891 57,234 |
2021 £ 124,543 2021 £ 5,670 1,005 |
|
|---|---|---|---|
| 6,675 | |||
| 2021 £ (421,241) 24,414 (75,287) (472,114) |
|||
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.
19
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Notes to the financial statements (continued)
11 Total charity funds
| Restricted funds: Feed NHS/MealForce project Action Against Hunger Amazing Alice Bullies Out Millie’s Trust Other Restricted Funds Total restricted funds Unrestricted funds: General funds Designated funds: The Natasha Allergy Research Foundation Total unrestricted funds Total charity funds |
Fund balances b/fwd Transfers within unrestricted funds £ £ - - 3,476 - 234 - 3,305 - 5,088 - 5,386 - 17,489 - 282,098 (100,000) - 100,000 282,098 - 299,587 - |
Incoming resources £ - - - - - 305 305 123,720 - 123,720 124,025 |
Resources expended £ - - - - - (1,701) (1,701) (38,256) (34,000) (72,256) (73,957) |
Fund balances c/fwd 2022 £ - 3,476 234 3,305 5,088 3,990 16,093 267,562 66,000 333,562 349,655 |
Fund balances b/fwd £ 283,884 3,476 234 3,305 5,088 3,990 299,977 420,851 - 299,977 720,828 |
Incoming resources £ 844,008 - - - - 1,396 845,404 130,389 - 845,404 975,793 |
Resources expended £ (1,127,892) - - - - - (1,127,892) (269,142) - (1,127,892) (1,397,034) |
Fund balances c/fwd 2021 £ - 3,476 234 3,305 5,088 5,386 |
|---|---|---|---|---|---|---|---|---|
| 17,489 282,098 - |
||||||||
| 17,489 | ||||||||
| 299,587 |
20
WSH Foundation
Report of the Trustees and Financial Statements For the year ended 31 December 2022
Notes to the financial statements (continued)
The restricted funds have been established for the following purposes:
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.
Feed NHS
Donations received in support of Feed NHS, providing meals for NHS and key workers.
The designated funds have been established for the following purposes:
The Natasha Allergy Research Foundation
Funds set aside in support of The Natasha Allergy Research Foundation, helping to prevent and end allergic disease and to make a positive difference to the lives of all those living with allergic disease.
21