## **WSH Foundation** 

Registered Charity No. 1125228 

Report of the Trustees and Financial Statements 

For the year ended 31 December 2023 



WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **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 2023 

## **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 2023 

## **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 2023. 

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 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 £6,300 for the independent audit of these accounts by Saffery LLP. 

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 2023, the charity raised funds of £146,479 _(2022: £124,025)_ and made grants to various charitable causes totalling £74,961 _(2022: £73,957)_ . 

Total funds raised by the charity since its establishment to the end of December 2023 stand at £5.2m. Cumulative donations by the Foundation to the same date amount to £4.8m. 

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 Foundation. However, the amounts disclosed within these accounts relate solely and exclusively to the activities of the Foundation and corresponding cash flows. 

2 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Report of the Trustees** _(continued)_ 

Grants made during 2023 included: 

- £33,000 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. 

- £7,419 to Adopt a School Trust, aiding young children across the United Kingdom in learning about nutrition and developing healthy relationships with food, whilst simultaneously providing the confidence to make healthy sustainable food choices. 

- £7,419 to Just One Tree, an initiative aimed at planting trees in an effort to restore, promote and educate local communities on biodiversity. 

- £7,419 to Hotel School, empowering people who have experienced homelessness and other disadvantages to thrive in the hospitality industry using the 10-week programme which combines theory, hands-on experience and industry visits to provide skills and confidence to land a job and excel in it. 

- £5,000 to Hospitality Action who support hospitality workers, helping them get back on their feet after setbacks. Fundraising events were organised in conjunction with St Ewe Free Range Eggs, in a concerted effort to foster a sustainable relationship with this organisation. 

- £1,345 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 £71,518 for the year _(2022: net income £50,068)._ The total unrestricted funds available as at 31 December 2023 are £408,247 _(2022: £333,562)_ . 

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 most payments by the charity are direct grants (87% of total expenditure in 2023), the trustees can exercise effective control over the cash outflows of the charity. 

## **Future Plans** 

The 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 2023 

## **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; 

- 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. 

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 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 28 October 2024 and signed on their behalf by: 


Trustee 

**M Bradley** 

4 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Independent Auditor’s Report To the trustees of WSH Foundation** 

## **Opinion** 

We have audited the financial statements of WSH Foundation (the ‘Charity’) for the year ended 31 December 2023 which comprise a statement of financial activities, balance sheet, statement of cashflows 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 2023 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 2023 

## **Independent Auditor’s Report To the trustees of WSH Foundation** _(continued)_ 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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. 

## **Responsibilities of trustees** 

As explained more fully in the statement of trustees’ responsibilities 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 2023 

## **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 2023 

## **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, minutes of meetings 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 2023 

## **Independent Auditor’s Report To the trustees of WSH Foundation** _(continued)_ 


Andrew Watkinson (Senior Statutory Auditor) 

For and on behalf of Saffery LLP 

Saffery LLP Chartered Accountants St John’s Court Easton Street High Wycombe Buckinghamshire HP11 1JX 

Statutory Auditors 

> Date: 28.10.2024 

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 2023 

## **Statement of Financial Activities** _(incorporating income and expenditure account)_ _**for the year ended 31 December 2023**_ 

|_Note_<br>Unrestricted<br>funds<br>£<br>**Income from:**<br>_Generated funds_<br> Voluntary income<br>_3_<br>146,479<br>**Total income**<br>146,479<br>**Expenditure on:**<br>_Charitable activities_<br> Grants payable<br>_4_<br>(71,794)<br>**Total expenditure**<br>(71,794)<br>**Net income/(deficit)**<br>74,685<br>**Transfers from**<br>**unrestricted funds**<br>-<br>**Net income/(deficit)**<br>**after transfers**<br>74,685<br>**Total funds brought**<br>**forward**<br>333,562<br>**Total funds carried**<br>**forward**<br>_11_<br>408,247|Restricted<br>funds<br>**Total funds**<br>**2023**<br>Unrestricted<br>funds<br>£<br>**£**<br>£<br>-<br>**146,479**<br>123,720<br>-<br>**146,479**<br>123,720<br>(3,167)<br>**(74,961)**<br>(72,256)<br>(3,167)<br>**(74,961)**<br>(72,256)<br>(3,167)<br>**71,518**<br>51,464<br>-<br>**-**<br>-<br>(3,167)<br>**71,518**<br>51,464<br>16,093<br>**349,655**<br>282,098<br>12,926<br>**421,173**<br>333,562|Restricted<br>funds<br>Total funds<br>2022<br>£<br>£<br>305<br>124,025<br>305<br>124,025<br>(1,701)<br>(73,957)<br>(1,701)<br>(73,957)<br>(1,396)<br>50,068<br>-<br>-<br>(1,396)<br>50,068<br>17,489<br>299,587<br>16,093<br>349,655|
|---|---|---|



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 2023 

## **Balance sheet** _**at 31 December 2023**_ 

|||**31 December**|31 December|
|---|---|---|---|
||_Note_|**2023**|2022|
|||**£**|£|
|**Current assets**||||
|Debtors|_8_|**118,362**|119,268|
|Cash at bank and in hand||**334,535**|238,953|
|||**452,897**|358,221|
|**Creditors:**amounts falling due within one year|_9_|**(31,724)**|(8,566)|
|**Net current assets**||**421,173**|349,655|
|**Net assets**||**421,173**|349,655|
|**Total charity funds**||||
|Unrestricted funds|_11_|**408,247**|333,562|
|Restricted funds|_11_|**12,926**|16,093|
|||**421,173**|349,655|



The notes on pages 13 to 21 form part of these financial statements. 

These financial statements were approved by the Trustees on 28 October 2024 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 2023 

## **Cashflow Statement** 

## _**For the year ended 31 December 2023**_ 

|_Note_<br>**31**<br>**Net cash inflow/(outflow) from operating activities**<br>_10_<br>**Returns on investments and servicing of finance**<br>**Capital expenditure and financial investment**<br>**Net cash inflow/(outflow) before management of liquid resources**<br>**and finance**<br>**Management of liquid resources**<br>**Increase/(decrease) in cash in the year**<br>Net cash resources at 1stJanuary 2023<br>**Net cash resources at 31stDecember 2023**|**December**<br>**2023**<br>31 December<br>2022<br>**£**<br>£<br>**95,582**<br>57,234<br>**-**<br>-<br>**-**<br>-<br>**95,582**<br>57,234<br>**-**<br>-<br>**95,582**<br>57,234<br>**238,953**<br>181,719<br>**334,535**<br>238,953|**December**<br>**2023**<br>31 December<br>2022<br>**£**<br>£<br>**95,582**<br>57,234<br>**-**<br>-<br>**-**<br>-<br>**95,582**<br>57,234<br>**-**<br>-<br>**95,582**<br>57,234<br>**238,953**<br>181,719<br>**334,535**<br>238,953|
|---|---|---|
|||57,234<br>181,719|
|||238,953|



12 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **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 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 2023 

## **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 2023 

## **Notes to the financial statements** _(continued)_ 

## **2 Related party transactions** 

Donations to the 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 _(2022: £120,000)_ were received by the Foundation and payments of £1,638 _(2022: £3,641)_ were made on behalf of the Foundation by BaxterStorey Limited, a member of the WSH group. 

During the year, payments of £3,167 _(2022: £1,396)_ were made on behalf of the Foundation by Holroyd Howe Limited, a member of the WSH group. 

Included within debtors as at 31 December 2023 were the following amounts owed to the Foundation by other companies within the WSH group. These amounts have been settled post year end. 

|**31 December**<br>**2023**<br>31<br>**£**<br>BaxterStorey Limited<br>**118,362**<br>**118,362**|December<br>2022<br>£<br>119,268|
|---|---|
||119,268|



Included within creditors as at 31 December 2023 were the following amounts owed by the Foundation to other companies within the WSH group. These amounts have been settled post year end. 

|have been settled post year end.|||||
|---|---|---|---|---|
||**31**|**December**|31|December|
|||**2023**||2022|
|||**£**||£|
|Holroyd Howe Limited||**3,167**||1,396|
|||**3,167**||1,396|



15 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Notes to the financial statements** _(continued)_ 

## **2 Related party transactions** _**(continued)**_ 

During the year, £1,345 _(2022: £1,123)_ was paid to The Nicholls Spinal Injury Foundation, a Charity that has common Trustees with the Foundation. 

During the year, grants to the value of £292 _(2022: £168)_ were made to the Gold Service Foundation, a charity which shares a common trustee with the 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 _(2022: £3,600)_ , recognised in these accounts as both a cost to the charity and as a balancing donation received. 

## **3 Income** 

|Unrestricted<br>funds<br>£<br>**_Voluntary income_**<br>BaxterStorey Limited<br>120,000<br>Other charitable fundraising<br>22,879<br>Donated services<br>3,600<br>146,479|Restricted<br>funds<br>**Total funds**<br>**2023**<br>Unrestricted<br>funds<br>£<br>**£**<br>£<br>-<br>**120,000**<br>120,000<br>-<br>**22,879**<br>120<br>-<br>**3,600**<br>3,600<br>-<br>**146,479**<br>123,720|Restricted<br>funds<br>Total funds<br>2022<br>£<br>£<br>-<br>120,000<br>305<br>425<br>-<br>3,600<br>305<br>124,025|Restricted<br>funds<br>Total funds<br>2022<br>£<br>£<br>-<br>120,000<br>305<br>425<br>-<br>3,600<br>305<br>124,025|
|---|---|---|---|
||||124,025|



16 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Notes to the financial statements** _(continued)_ 

## **4 Expenditure** 

- **4 (a) Grants payable** 

|Unrestricted<br>funds<br>£<br>**_Grants payable_**<br>_in respect to educational and training activities_<br>Gold Service Scholarship<br>292<br>Nicholls Spinal Injury Foundation<br>1,345<br>Solycafe LTDA<br>-<br>The Natasha Allergy Research Foundation<br>33,000<br>Adopt a School Trust<br>7,419<br>Just One Tree<br>7,419<br>Hotel School<br>7,419<br>_in respect to other charitable activities_<br>Other charitable donations<br>5,000<br>_Support Costs - note 4 (b)_<br>9,900<br>**_Total grants payable_**<br>71,794|Restricted<br>funds<br>**Total funds**<br>**2023**<br>Unrestricted<br>funds<br>£<br>**£**<br>£<br>-<br>**292**<br>168<br>-<br>**1,345**<br>1,123<br>-<br>**-**<br>25,015<br>-<br>**33,000**<br>34,000<br>-<br>**7,419**<br>-<br>-<br>**7,419**<br>-<br>-<br>**7,419**<br>-<br>3,167<br>**8,167**<br>1,000<br>-<br>**9,900**<br>10,950<br>3,167<br>**74,961**<br>72,256|Restricted<br>funds<br>Total funds<br>2022<br>£<br>£<br>-<br>168<br>-<br>1,123<br>-<br>25,015<br>-<br>34,000<br>-<br>-<br>-<br>-<br>-<br>-<br>1,701<br>2,701<br>-<br>10,950<br>1,701<br>73,957|
|---|---|---|



17 



WSH Foundation Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Notes to the financial statements** _(continued)_ 

## **4 (b)     Support costs** 

|**31**<br>Audit Fee<br>Donated services<br>Website support|**December**<br>**2023**<br>31 December<br>2022<br>**£**<br>£<br>**6,300**<br>6,000<br>**3,600**<br>3,600<br>**-**<br>1,350<br>**9,900**<br>10,950|
|---|---|



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 £6,300 including irrecoverable VAT have been charged in respect to the Independent Audit of the Report of the Trustees and Financial Statements for the year _(2022: £6,000)_ . 

## **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 2023 

|**Notes to the financial statements**_(continued)_<br>**8**<br>**Debtors**<br>Amounts due from related parties<br>The amounts above were settled post year end.<br>**9**<br>**Creditors: amounts falling due within one year**<br>Accruals<br>Amounts due to related parties<br>The amounts due to related parties above have been settled post year end.<br>**10**<br>**Notes to the Cashflow Statement**<br>Reconciliation of net movement in funds to net cashflow from operating activities<br>Net movement in funds for the year<br>Decrease in debtors<br>Increase in creditors<br>**Net cash inflow/(outflow) from operating activities**|**2023**<br>**£**<br>**118,362**<br>**2023**<br>**£**<br>**28,557**<br>**3,167**<br>**31,724**<br>**2023**<br>**£**<br>**71,518**<br>**906**<br>**23,158**<br> **95,582**||2022<br>£<br>119,268<br>2022<br>£<br>7,170<br>1,396|
|---|---|---|---|
||||8,566|
||||2022<br>£<br>50,068<br>5,275<br>1,891<br>57,234|
|||||



19 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Notes to the financial statements** _(continued)_ 

## **11         Total charity funds** 

|_Restricted funds:_<br>Action Against Hunger<br>Amazing Alice<br>Bullies Out<br>Millie’s Trust<br>Children of the Mountain<br>Total restricted funds<br>_Unrestricted funds:_<br>General funds<br>Designated funds:<br>The Natasha Allergy Research Foundation<br>Adopt a School Trust<br>Just One Tree<br>Hotel School<br>Total unrestricted funds<br>Total charity funds|Fund<br>balances<br>b/fwd<br>£<br>3,476<br>234<br>3,305<br>5,088<br>3,990<br>16,093<br>267,562<br>66,000<br>-<br>-<br>-<br>333,562<br>349,655|Incoming<br>resources<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>124,222<br>-<br>7,419<br>7,419<br>7,419<br>146,479<br>146,479|Resources<br>expended<br>£<br>-<br>-<br>-<br>-<br>(3,167)<br>(3,167)<br>(16,537)<br>(33,000)<br>(7,419)<br>(7,419)<br>(7,419)<br>(71,794)<br>(74,961)|**Fund**<br>**balances**<br>**c/fwd**<br>**2023**<br>**£**<br>**3,476**<br>**234**<br>**3,305**<br>**5,088**<br>**823**<br>**12,926**<br>**375,247**<br>**33,000**<br>**-**<br>**-**<br>**-**<br> <br>**408,247**<br>**421,173**|Fund<br>balances<br>b/fwd<br>Transfers<br>within<br>unrestricted<br>funds<br>£<br>£<br>3,476<br>-<br>234<br>-<br>3,305<br>-<br>5,088<br>-<br>5,386<br>-<br>17,489<br>-<br>282,098<br>(100,000)<br>-<br>100,000<br>-<br>-<br>-<br>-<br>-<br>-<br>282,098<br>-<br>299,587<br>-|Incoming<br>resources<br>£<br>-<br>-<br>-<br>-<br>305<br> <br>305<br>123,720<br>-<br>-<br>-<br>-<br> <br>123,720<br> <br>124,025|Resources<br>expended<br>£<br>-<br>-<br>-<br>-<br>(1,701)<br>(1,701)<br>(38,256)<br>(34,000)<br>-<br>-<br>-<br>(72,256)<br>(73,957)|Fund<br>balances<br>c/fwd<br>2022<br>£<br>3,476<br>234<br>3,305<br>5,088<br>3,990<br>16,093<br>267,562<br>66,000<br>-<br>-<br>-<br>333,562<br>349,655|
|---|---|---|---|---|---|---|---|---|



20 



WSH Foundation 

Report of the Trustees and Financial Statements For the year ended 31 December 2023 

## **Notes to the financial statements** _(continued)_ 

## **11 Total charity funds (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 and support 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. 

## _Children of the Mountain_ 

Donations received in support of Children of the Mountain who aim to support the poorest children in rural and urban Nepal, providing them with opportunity through access to education and personal development. 

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. 

## _Adopt a School Trust_ 

Funds set aside to support Adopt a School Trust, aiding young children across the United Kingdom in learning about nutrition and developing healthy relationships with food, whilst simultaneously providing the confidence to make healthy sustainable food choices. 

## _Just One Tree_ 

Funds set aside to support Just One Tree, an initiative aimed at planting trees in an afford to restore and promote biodiversity within local communities. 

## _Hotel School_ 

Funds set aside to support Hotel School, empowering people who have experienced homelessness and other disadvantages to thrive in the hospitality industry using the 10-week programme which combines theory, hands-on experience and industry visits to provide skills and confidence to land a job and excel in it. 

21