OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-05-31-accounts

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

UNAUDITED REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[st] May 2025

Charity Number 1129392 Company Number CE031486 (England and Wales)

2

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Contents

Contents
Legal and Administrative Information 4
Trustees Report 5
Aims and Objectives 5
Activities during the period 6
Plans for Future Periods 10
Financial Review 11
Reserves policy 11
Structure, Governance, and Management 11
Restricted Funds 11
Trustees 12
Independent Examiner 13
Independent Examiner’s Report to the Trustees 14
Respective responsibilities of Trustees and Examiner 14
Basis of Independent Examiner’s Report 14
Independent Examiner’s Statement 14
Statement of Financial Activities 15
Balance Sheet 16
Cash-flow Statement 18
Notes 19
1.
Accounting Policies		 19
2.
Critical Accounting Estimates & Judgements		 20
3.
Incoming Resources		 20
4.
Total Resources expended		 21
5.
Employee and Trustee expenses		 21
6.
Taxation		 22
7.
Fixed assets – Plant and Equipment		 22
8.
Debtors		 22
9.
Analysis of net assets between Funds		 23
10.
Movement in Funds		 24
11.
Going concern		 24

3

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Legal and Administrative Information

Charity name: Fat Face Foundation

Charity registration number: 1129392 Company registration number: CE031486 (England and Wales)

Registered office and address: 1 - 3 Ridgway Havant Hampshire PO9 1QJ

Directors and Trustees: Ian Williams Nicola Amos (Chairperson) Joanne Wilson (Appointed 24 October 2024) John Davies (Appointed 21 May 2024) Molly Hogge (Resigned 2 September 2025) Matthew Prosser Robert Blackwood (Resigned 22 January 2026)

Laura Praeger Jodie Higgins William Crumbie (Resigned 24 October 2024)

Independent examiner:

Rock Tax and Accounting Elm House Tanshire Park Shackleford Road Elstead, Godalming GU8 6LB

4

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Trustees Report

The Trustees, present their report along with the financial statements of the charity for the period ended 31[st] May 2025. 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 governing document, the Charities Act 2011 and Statement of Recommended Practice: Accounting and Reporting applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102 (‘FRS102’).

Aims and Objectives

The Trustees are committed to the mission of “Changing people’s lives wherever FatFace goes”.

About the FatFace Foundation

The FatFace Foundation is a registered charity set up in 2009 to make a positive and enduring difference to the lives of people in communities where FatFace sources, manufactures, retails and distributes its products.

We pride ourselves in enabling and engaging FatFace communities, chosen charity partners, suppliers, crew and customers alike to get actively involved and make a real difference to the people around us and the planet.

FatFace Ltd continues to support the Foundation by donating their clothing, footwear and accessory samples, as well as up to 20,000 units of terminal stock per annum. This is collected from the nearby FatFace head office and sorted by our incredible Foundation team - made up of 8 crew and 30 volunteers - and sold in our FatFace Foundation shop in Havant, Hampshire. This shop is the main source of funding for the Foundation where all the profits go directly to supporting our charitable giving.

Established in 2018 in a small retail unit adjacent to Havant’s Meridian Shopping Centre, the Foundation shop was an immediate success, demonstrating strong community support and commercial viability from the outset.

Building on this early momentum, the Trustees, together with the Foundation team, took the strategic decision to relocate to a significantly larger unit within the shopping centre in late 2021. This move was designed to increase footfall, enhance sales performance and, in turn, maximum the level of donations the Foundation is able to distribute in support of its charitable objectives.

The relocation also created valuable additional capacity to expand our volunteer and work experience programmes. Over the past seven years, over 80 individuals have participated in these initiatives. We are particularly proud of the positive impact this has had on the local community – our programmes support people seeking work experience, increased confidence or a welcoming environment in which to contribute and develop their skills, whether for a few hours per week or as part of a structured placement. By fostering an inclusive and supportive workplace, the Foundation shop not only generates vital funds for our charitable activities but also plays an important role in strengthening community engagement and development.

Our Mission

To raise money and distribute grants that will change people’s lives, and the planet, wherever FatFace goes.

5

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

To make a difference to individuals when they most need a helping hand, whilst supporting legacy programmes aimed at enriching our communities and the planet for years to come.

Activities during the period

One Million Pounds to Ocean Health by 2030.

Our planet focus for the next five years continues to be ‘Seas the Day’ and invest in the health of our ocean by supporting charities that are working hard to educate and engage communities on our oceans, whilst also helping to restore and protect it.

We believe that life is tied to our oceans. The rivers, seas and lakes connect us all through sustenance, culture and activity. Home to abundant life, the water on our blue planet is a powerful solution to the climate crisis. Water is life and we want to protect it, restore it and educate the next generation, allowing them to be the first to leave our waters clearer, cleaner and better than they found it.

For World Ocean Day 2024, the FatFace Foundation proudly pledged to donate £1,000,000 to ocean health by 2030, aligning with the UN Ocean Decade (2021-2030) with the aim to support the global mission to protect 30% of the world’s oceans by 2030. We are partnering with expertled charities and grassroots organisations making waves in ocean conservation. Through these partnerships – and with the support of our trustees, crew, volunteers and customers – our goal is to create a ripple effect of positive change.

Marine Conservation Society

This year we joined forces with FatFace as founding partners on Marine Conservation Society’s innovative and groundbreaking new project, the Atlantic Coast Programme. This cornerstone partnership is an integral part of the Foundation's 2030 goal. The Foundation has agreed to donate £75,000 a year for three years to this innovative restoration and education project.

Update from Marine Conservation Society:

The Atlantic Coast Programme (ACP) is more than just a coastal initiative — it’s a bold, naturepowered movement to restore and protect some of the UK’s most fragile marine ecosystems. Stretching from Cornwall to the Hebrides, Britain’s wild Atlantic Coast is home to golden beaches, towering cliffs, and nutrient-rich waters teeming with life. It’s also one of the most ecologically important and climate-sensitive regions in the country.

Launched by the Marine Conservation Society with FatFace and the FatFace Foundation as Founding Partners, the ACP is taking an ambitious, seascape-scale approach to ocean recovery. By focusing on “superhero species” like oysters, mussels, kelp, and seagrass — nature’s carbon

6

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

sinkers, ocean cleaners, and habitat builders — we’re helping to rebuild thriving underwater ecosystems that support marine life, clean our seas, and fight climate change.

Ocean Generation

The FatFace Foundation is continuing its support of Ocean Generation whose mission to inspire, educate and engage the next generation on the importance of looking after our ocean. Committing to a three-year partnership with an annual commitment of £35,000, we are proud to fund their Ocean Academy programme, which offers a dynamic digital learning platform for students, parents, and teachers. This innovative programme provides open-source materials to educate on the Ocean’s vital role, the threats it faces, and the actions we all must take to protect it.

Solent Seagrass Restoration Project

In early 2023 the FatFace Foundation partnered with Hampshire and Isle of Wight Wildlife Trust (HIWWT) and their Solent Seagrass Restoration Project by donating £90,000 over the course of 3 years. This project is attempting to bring seagrass back to the Solent where it was once in abundance but has lost around 97% in the last century. Seagrass is vitally important for 3 major areas:

Update from HIWWT:

During 2025, the Trust planted more than 58,000 seagrass seeds along the Hampshire and Isle of Wight coastline. Once established, the seeds will grow into healthy seagrass plants and expand the existing habitats at Calshot and Seaview - helping restore one of the UK’s rarest marine environments.

This achievement was matched by an unprecedented year of volunteer effort. More than 180 local volunteers contributed over 1,000 hours across 41 field sessions and multiple laboratory sessions, more than tripling last year’s effort. Thanks to this work, over 180,000 Zostera marina seagrass seeds have also been collected, sorted, and safely stored ready for planting in spring 2026.

Cobnor Activities Centre Trust

This year the FatFace Foundation embarked on a new partnership, donating £10,000 a year for three-years to Cobnor Activities Centre Trust, ensuring 600 disadvantaged and vulnerable young

7

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

people and adults in our community get to experience the thrill of sailing whilst making new friends.

The Young Helms keelboat sailing programme aims to transform the lives of some of the most vulnerable and disadvantaged young adults in our local community. Many of whom face barriers of limited opportunity, isolation due to social deprivation, mental health challenges and physical or learning disabilities. The programme’s goal is to remove these barriers, empowering participants to improve their self-esteem, build resilience and positively shape their futures.

Cobnor Activity Centre Trust is an independent charity and accredited provider of adventurous outdoor activities based in Chichester Harbour. The overarching purpose of CACT is to help educate and inspire young people to reach their full potential through the provision of high quality, educational and fun outdoor and residential activities. Their activities aim to promote positive mental health, well-being and self-esteem as well as helping to develop personal and life skills including teamwork, leadership, resilience and social interaction.

Team Risers

Through our community pillar, we continue to support young people through education, health and wellbeing and sport and this year we are excited to announce the launch of our latest initiative, the Team Risers Project. This is a £50,000 annual grant giving fund designed to support and uplift communities by providing financial assistance to grassroots sports across the UK. By providing funding and resources, the FatFace Foundation aims to empower communities, foster innovation, and promote sport equity.

Through Team Risers, the FatFace Foundation is committed to levelling the playing field. By supporting projects that prioritise equity and inclusion, we can help create a more vibrant, healthy and engaged community.

This fund has been made possible through FatFace Ltd.’s donation of their carrier bag levy.

We have continued to support those within our local communities via the I Will Grants fund. With access to up to £40,000 a year, crew throughout the FatFace business can nominate

8

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

charities and amazing causes close to their hearts for a much-needed donation. A further breakdown of these donations:

Support in our wider community

In 2023, the Foundation began a long-term partnership with one of FatFace’s longest serving manufacturers, Indian Designs (ID). We have engaged in a school and scholarship funding programme in Bangalore, India. We believe that education is a powerful catalyst for change and since 2023, have donated £150,000 towards helping to improve the conditions of a local government school as well as funding a fantastic scholarship programme.

The school improvement project is co-sponsored by ID Care Trust and mentored by a renowned NGO Parikrma Humanity Foundation. ID Care Trust has adopted the local government school and is working with the Parikrma Humanity Foundation to improve the school environment, facilities, infrastructure and standard of education in this school.

To date, we have sponsored over 156 scholarships for the children of workers in one of FatFace’s manufacturing factories operated by Indian Designs.

By collaborating closely with ID Care Trust and Parikrma Humanity Foundation, we are not only supporting them in their mission to enhance the area’s educational facilities but also nurturing the potential of young minds, empowering the next generation, through ensuring they have access to quality education and opportunities that can change their circumstances.

Breakout Youth

For Pride 2024, the FatFace Foundation proudly donated for the second consecutive year £5,000 to Breakout Youth, a Hampshire-based LGBTQ+ charity, to support their annual Pride Prom. This inclusive party embraced a fun Halloween and Pumpkin theme, hosting 84 young people from across Hampshire and the Isle of Wight. The event ensured that all attendees had a great experience, with all food and travel provided. A variety of exciting activities kept everyone entertained throughout the night, including a spooky photobooth for fancy dress photos, a silent disco, arts and crafts stations, and face painting. There was also a nail bar where guests could get creative, a Nightmarish Mocktail Bar and a games room that offered a fun space to relax and play. It was an unforgettable night, blending creativity, fun, and the spirit of Pride!

The feedback from young people since the event has been overwhelmingly positive, especially about the food! Several attendees mentioned how the event was sensory-friendly, with one noting that it wasn’t “banshee loud,” which made it more enjoyable for everyone. Many also expressed their gratitude, with one person saying, “Thank you very much for this evening! It

9

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

was wonderful!” The chance to hang out with friends was another highlight, as several others mentioned how much they enjoyed spending time with their peers. Additionally, many were excited about meeting new people and making lasting connections. Overall, the event clearly left a positive impression on those who attended.

Plans for Future Periods

We will continue to uplift our communities and support our planet as we have this year, using the lens of selected UN Sustainable Development Goals (SDGs):

10

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Public Benefit

The Trustees have referred to the guidance of the Charity Commission’s general guidance on public benefit when reviewing aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. In the Trustees' opinion, the activities of the charity benefit the wider community through the support provided to other causes and charities involved in health and wellbeing, environmental issues and support for disadvantaged young people.

Financial Review

It should be noted that this period has generated significant funds through the Foundation store and the Foundation does not rely on funds being directly sourced from FatFace Limited. However, the two parties are utilising the terminal stock as a vessel to support the Foundation shop and generate funds for good causes.

We are delighted that the Foundation store continues to trade well and is now supporting funds through product sales to execute the Foundation’s strategy.

Reserves policy

It is the policy of the Trustees to maintain sufficient reserves to meet the liabilities of the charity as they fall due, including expenditure committed for or on behalf of our charity partners. Income of £647,140 and resources expended of £673,684 for the period, compared to £717,472 income and £654,736 expended from the previous period, have resulted in net assets decreasing from £573,496 to £546,952 for the current period, of which, all but £2,524 is held unrestricted and will be used for general charitable purposes and applied to those purposes as soon as is reasonably possible in accordance with the charity’s governing document.

Structure, Governance, and Management

The FatFace Foundation operates as a Charitable Incorporated Organisation (CIO). The CIO was established under a Constitution, which sets out its charitable objects, powers and governance framework. The Constitution also establishes the rules governing the appointment, retirement and removal of charity trustees.

The charity trustees are the only members of the CIO. In the event of the CIO being wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

There must be a minimum of four charity trustees in accordance with the Constitution. During the period there were seven serving trustees. Trustees are appointed by resolution of the existing trustees, having regard to the skills, knowledge and experience required for the effective administration of the CIO. New trustees are provided with an induction covering the charity’s governing document, recent financial information, and the legal duties and responsibilities of trustees under charity law.

Trustees hold office in accordance with the provisions of the Constitution. There is no fixed term of office and trustees are not subject to periodic re-election unless the Constitution is amended to provide otherwise. The trustees are responsible for the strategic direction of the Foundation and for ensuring that the charity operates in furtherance of its charitable objects and in compliance with charity law.

11

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

The Board met four times during the period to consider strategy, financial performance, risk, grant-making decisions and governance matters.

The trustees have considered the major risks to which the charity is exposed and have established systems and procedures to manage and mitigate those risks where appropriate.

Restricted Funds

Restricted Funds relate to donations from FatFace Limited, or elsewhere, arising from the sale of designated products associated with named charities or otherwise restricted as to the applications to which they can be applied.

Under the Single Use Carrier Bags Charge (Wales) Regulations 2010, and Carrier Bag Charge (Scotland) Regulations 2014, all retailers in Wales and Scotland offering single use carrier bags must charge customers at least five pence per bag, and this money must be directed to registered charities within the regulated country.

Trustees

The trustees during the period under review were

Trustee’s Responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.

Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees are required to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable incorporated organisation and of the profit or loss of the charitable incorporated organisation for that period. In preparing those financial statements, the Trustees are required to:

12

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable incorporated organisation's transactions and disclose with reasonable accuracy at any time the financial position of the charitable incorporated organisation and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable incorporated organisation and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

Chris Lowry of Rock Tax and Accounting has expressed his willingness to remain as Independent Examiner for this Unaudited Report and Financial Statements.

This report has been prepared in accordance with the special provisions of the Part 15 of the Companies Act 2006 relating to small companies.

By order of the Board

Nicola Amos

Chair of the Board 31st January 2025

13

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Independent Examiner’s Report to the Trustees

I report to the charity’s Trustees on my examination of the accounts of the company for the period ended 31 May 2025.

Respective responsibilities of Trustees and Examiner

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner’s Report

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Chris Lowry Rock Tax and Accounting Elm House, Tanshire Park Shackleford Road, Elstead Godalming, GU8 6LB

Dated: 24 February 2026

14

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Statement of Financial Activities

(including Income and Expenditure Account) For the period ended 31 May 2025

Notes Unrestricted Restricted Total Total
Funds 2025 Funds 2025 Funds Funds
2025 2024
£ £ £ £
Incoming Resources
Incoming resources from:
Charitable activities 3 641,785 - 641,785 704,141
Donations 3 2,831 2,524 5,355 13,331
—————— —————— —————— ——————
644,616 2,524 647,140 717,472
—————— —————— —————— ——————
Resources Expended
Charitable activities 4 380,626 8,002 388,628 375,244
Costs of generating voluntary
income		 4 285,056 - 285,056 279,492
—————— —————— —————— ——————
Total resources expended 665,682 8,002 673,684 654,736
—————— —————— —————— ——————
Net Movement in Funds (21,066) (5,478) (26,544) 62,736
Total funds brought forward 565,494 8,002 573,496 510,760
—————— —————— —————— ——————
Total funds carried forward 544,428 2,524 546,952 573,496
—————— —————— —————— ——————

The statement of financial activities includes all gains and losses in the period. All incoming resources and resources expended derive from continuing activities.

15

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Balance Sheet

As at 31 May 2025

Company number CE031486

Notes 2025 2024
£ £
Fixed Assets 7 - 97
Current Assets
Stock - -
Debtors 8 82 234
Cash at bank 573,188 599,126
—————- —————-
573,270 599,360
—————— ——————
Creditors: Amounts falling due within one year
Creditors - -
Accrued expenses (26,318) (25,961)
—————— ——————
(26,318) (25,961)
—————— ——————
Net Assets 9 546,952 573,496
—————— ——————
Unrestricted funds
General funds 10 544,428 565,494
Restricted funds 10 2,524 8,002
—————— ——————
Total funds 546,952 573,496
—————— ——————

16

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

For the financial period ended 31 May 2025 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act.

The notes on pages 19 to 24 form part of these financial statements.

Approved by the Board for issue on 20 February 2026.

Nicola Amos

Chairperson Dated: 20/02/2026

17

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Cash-flow Statement For the period ended 31 May 2025

2025 2024
£ £
Net Movement in Funds for the year (34,844) 59,494
Adjustment for:
Depreciation charge 97 2,785
Bank interest received 8,300 3,242
(Increase)/decrease in debtors 152 83,994
(Decrease)/increase in creditors 357 23,741
—————- —————-
Net cash provided by operations (25,938) 17,256
Cash and cash equivalents at start of year 599,126 425,870
—————— —————
Cash and cash equivalents at end of year 573,188 599,126
—————— —————

18

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

Notes

Forming part of the financial statements of FatFace Foundation, a company limited by guarantee in England and Wales; registered office address Unit 3 Ridgway, Havant, Hampshire, PO9 1QJ.

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102.

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor, through the terms of an appeal, or through legislation.

(c) Revenue Recognition

All incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Voluntary income is received by way of donations and gifts and is included in the Statement of Financial Activities when receivable. Donated services have not been included since these cannot be quantified. The value of services provided by volunteers has not been included in these accounts.

Incoming resources from other trading activities relate to sales from the Foundation shop in Havant, Hampshire.

(d) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes irrecoverable VAT which is reported as part of the expenditure to which it relates.

Costs of generating voluntary income reflects the expenses incurred by the Charity in raising funds. Charitable activities are grants made to partner charities. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity, such as the fees paid to the independent examiner.

(e) Tangible Fixed Assets

Fixed assets relate to the fixture & fittings of the Foundation Shop and are depreciated on a straight line 3-year or 5-year basis.

(f) Current assets and liabilities

All current assets and liabilities are stated at the settlement amount after any discounts given.

19

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

2. Critical Accounting Estimates & Judgements

No significant accounting judgements and estimates have had to be made by the directors in preparing these financial statements.

3. Incoming Resources

Incoming resources from charitable activities relate to the sale of goods donated to the charity. No cost is attributed to these donated goods. These goods are sold through the Foundation’s shop in Havant. Donations received in respect of restricted funds relate to the sale of carrier bags by FatFace Limited shops in Wales and Scotland.

Incoming resources for the year to 31 May 2025 were as follows:

Unrestricted Restricted Total
Funds
Funds		 Funds
2025 2025 2025
£ £ £
Charitable activities 641,785 - 641,785
Donations 2,831 2,524 5,355
—————— —————— ——————
644,616 2,524 647,140
—————— —————— ——————
Unrestricted Restricted Total
Funds
Funds		 Funds
2024 2024 2024
£ £ £
Charitable activities 704,141 - 704,141
Donations 5,329 8,002 13,331
—————— —————— ——————
709,470 8,002 717,472
—————— —————— ——————

20

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

4. Total Resources expended

Unrestricted Restricted Total Funds
Funds 2025 Funds 2025 2025
£ £ £
Costs of fundraising 263,181 - 263,181
Governance 21,875 - 21,875
Charitable activities
(donations made) 380,626 8,002 388,628
—————— —————— ——————
665,682 8,002 673,684
—————— —————— ——————
Unrestricted Restricted Total Funds
Funds 2024 Funds 2024 2024
£ £ £
Cost of fundraising 270,422 - 270,422
Governance 9,070 - 9,070
Charitable activities
(donations made)		 375,244 - 375,244
—————— —————— ——————
654,736 - 654,736
—————— —————— ——————

Costs of fundraising principally represents costs of running the charity shop, including costs of staff recharged by FatFace Limited, together with rent, rates, utilities and other running costs.

Included in governance costs are fees for the independent examination of £3,000 (2024: £2,700). Governance costs have increase on the year due to fees for legal advisory and trustee services provided by John Davis which are paid directly to his legal firm.

5. Employee and Trustee expenses

The Charity had no employees during the period. Operations manager and store employees within the Foundation shop are employed by FatFace Limited with costs being recharged.

Remuneration for professional services is paid to Nicky Amos. Fees for legal advisory and trustee services provided by John Davis are paid directly to his legal firm. No other Trustees received remuneration during the period and there were no expenses reimbursed to Trustees.

No Trustee or other person related to the Charity had any personal interest in any contract or transaction entered into by the Charity during the period.

21

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

6. Taxation

The Charity is exempt from tax on income falling within s505 of the Income and Corporation Taxes Act 1988. No tax charges have therefore arisen in the Charity.

7. Fixed assets – Plant and Equipment

Fixed assets – Plant and Equipment
2025
£
Cost at 1 June 2024 and 31 May 2025 39,722
—————-
Depreciation at 1 June 2024 39,625
Charge for the year 97
——————
Depreciation at 31 May 2025 39,722
——————
Net book value at 31 May 2025 -
——————
Net book value at 31 May 2024 97
——————

8. Debtors

Debtors
2025 2024
£ £
VAT 82 234
Prepayments - -
—————- ——————
82 234
—————— ——————

22

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

9. Analysis of net assets between Funds

General Restricted Total
Funds Funds Funds
2025 2025 2025
£ £ £
Fixed Assets - - -
Stock - - -
Debtors 82 - 82
Cash 570,664 2,524 573,188
Accrued expenses (26,318) - (26,318)
Trade Creditors - - -
—————— —————— ——————
544,428 2,524 546,952
—————— —————— ——————
General Restricted Total
Funds Funds Funds
2024 2024 2024
£ £ £
Fixed Assets 97 - 97
Stock - - -
Debtors 234 - 234
Cash 591,124 8,002 599,126
Accrued expenses (25,961) - (25,961)
Trade Creditors - - -
—————— —————— ——————
565,494 8,002 573,496
—————— —————— ——————

23

Sensitivity: General

Docusign Envelope ID: D0EF2144-FA44-4B7F-8D91-A9C78C1E5EB4

FatFace Foundation Unaudited Report and Financial Statements 31 May 2025

10. Movement in Funds

0. Movement in Funds
At 1 June Incoming Outgoing At 31 May
2024 resources resources 2025
£ £ £ £
Restricted Funds
Sales of Carrier bags – Wales 6,066 2,124 (6,066) 2,124
Sales of Carrier bags – Scotland 1,936 400 (1,936) 400
—————— —————— —————— ——————
8,002 2,524 (8,002) 2,.524
—————— —————— —————— ——————
Unrestricted Funds 565,494 644,616 (665,682) 544,428
—————— —————— —————— ——————
Total Funds 573,496 647,140 (673,684) 546,952
—————— —————— —————— ——————
At 1 June Incoming Outgoing At 31 May
2023 resources resources 2024
£ £ £ £
Restricted Funds
Sales of Carrier bags – Wales - 6,066 - 6,066
Sales of Carrier bags - Scotland - 1,936 - 1,936
—————— —————— —————— ——————
- 8,002 - 8,002
—————— —————— —————— ——————
Unrestricted Funds 510,760 709,470 (654,736) 565,494
—————— —————— —————— ——————
Total Funds 510,760 717,472 (654,736) 573,496
—————— —————— —————— ——————

11. Going concern

The financial statements have been prepared on a going concern basis as the Trustees have determined that there is no material uncertainty that casts doubt on the entity’s ability to continue as a going concern.

24

Sensitivity: General