Charlty Reglstratlon No. 1140850 Company Reglstratlon No. 07549393 (England and Wale¥l WALKABOUT FOUNDATION UK ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WALKABOUT FOUNDATION UK CONTENTS Page Tru$tee8' rep)rt Stslement of Trustees, responsibilitses Independent audltots report 10-13 Stslement of financial actIeS 14 B¥lan¢e sheet 15 Strlwfient of $h IIow3 18 Notes to the fmon¢kql statèmènts 17-28
WALKABOUT FOUNDATION UK LEGAL AND ADMINISTRATIVE INFORMATION Trusts8$ F Abuali AAlmashal S Bonfiglio A Chryssicopoulos C Gonzalez-Bunster L Gonzalez-Bunster R Gonzalez-Bunsler Z Advani Avan Holk Charlty nurnr 1140850 Company numbor 07549393 Reglstered offlce Worfds End Studios Ltd. 132-134 Lot5 Road Unit 225 London SW10 ORJ UK AudltOfS Arnold Hill & Co LLP Sixth Floor Capltal Tow•r 91 Walerfoo Road London SE1 8RT Reglstered nan Walkabout Foundation UK Chl•f •x•¢utlv• offl¢trr M Nakano Chalmian C Gonzal¢z-8unstsr A Van Hoik Bankers HSBC Bank PLC 76-78 n9'S Road London S8 4TZ Sollcttovs Grrfrord Ch8n¢e LLP 10 Upper Bank Street London E14 5JJ
WALKABOUT FOUNDATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 This report and accounts for the 12-month period ending 31 December 2023. are presented by the Trusteos ol Walkabout Foundation UK. They have been prepared in accordanTr wth the accounting policies sel out in note 1 to tre accounts, in compliance wth Walkabout Foundation's Memorandum and Articles of Assori8bon, the Companies Act 20{ and the Statement of Recornmended Practice, "Accounting and Reporting by Chartbes" appli¢8ble to charities pieparing theii account5 in aco)rdance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 effectNe from January 2019. Oblè¢tlves and Attlvltl¢s Walkabout Foundation UK fwalkaboun is a charitable organisation that foujses on mobilty dis?biliti95. Our objective5 are to benefft the public by.. 1. The advancernent ol health., and 2. The relief of those in need by reason of disability, ill heamh or another disadvantage, in partiajlar Ibut without iimitationl.. a. Funding medical research into the nature. cause. diagnosi3. prevention Ènd curè of paratyg18: and b. Prowding wheelchalrs and rehabilrtation seryices to those in need. The Trust¢¢$ pay due regard lo guid8nce issue%Y by the Chaiity Commission on public benefit vthen decidlng what activrties tt)e charity should undertake, and planning any future activities. Our Wision and Strategy Ovr mission is to restore dignity. freedom and independence by providing wheelchairs and rehabilitation in the developing wodd, whi15t fundlng research to find a cure for paratysis. Our thretrpronged approach means that we tae the issue of mobility disability from several angles, creating sustainable solutions both in the short, medium and long-temi. Our success is measured by the number of lives directly and indirectly irnpacted through our programmes, which lo date we estimate is over 85,000. According to the Woild HeaKh Organi$8Uon IWHOI, there a approxlmately 100 million individuals in the world in need of a wheelchair, of which mts than 60% do not have access to one. This is compounded by lack of funding into finding a cure for the ConOn9 undetying paralysis. Typically, each year In tre United Stales, less than US$ 1 Oornn is invested in spinal cord injury research, our main area of focus, compared to severdl billion dollars allocated towards cancer and diabetes. Sadly though, the lrfe expectanw of an individual with a Spinal cord injury is less than years in many parts of the world. A keystone to OUT Strategy and rneasure of long4erm succes5 15 providing continuous 5UPPOrt lo all the IndMdu81s involved in our work, frcffi nurturing our relationships swth donors and benefiaarfes by providing support and follow up, lo investing in the training and development of our staff 8nd v¢lunleers, who ntn"bte In varlous ways to the development of all our key areas both in the UK and intemationalty. Walkabuut Foundatiorr UK is Gonnected lo The Walkabout Foundation. Inc., a non-for.profft sister organisation registered In the Unltèd States of Arnerica. Both organisations Share the same mission and work towards comrnDn goa15. The Walkabout Found8tion, In¢. provides giants from time to Ume ID Walkabout Foundation UK to support these mutual activities, and finances in part of in total several programmes managed by Walkabout Founclation UK. Most Trustees of Walkabout Foundation UK a Board members of The Walkabout Foundation, Inc., which is also managed by Walkabout Foundation's management team based in the UK.
WALKABOUT FOUNDATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achl&vments and performance Programmes Research Prograrnme6 In 8 hugely underfijnded fEld. where significant investments can sornetimes mean very limited tsngible results, we are proud to have a Irack record of funding projects Ihat have been central to some of the most signfficanl bie8kthroughs in Ihe discipline_ In 2022, w2 signed a new research agreement wth Shirley Ryan Abilrty Lab to donate $200,OQO over two ye8r5 12022 to 2024}. We are ftjnding the new proje¢t'Functional Restoration after Spinal Cord Injury by Hebbian and Transujtaneous Spinal Stimulation, which will study 15 patients through gxercisg corTtbined wth non4nvasive stimulation targeting synerglstic aspects of spin81 plasb"¢ty further promotes ftJn¢ty"onal recovery. In 2023, we donated a total of $100,000, through our sister cornpany, The Walk81)out Found8llon. In¢. We will be wnlinuing to support The Shirfey Ryan Ability Lab in 2024, via The Walkabout Foundation, Inc. 2. Wh88lchalr dlstrlbvtlon$ Since starting our wheelchalr de15very programmes In 2010, we have dlslr6buted over 26,911 besptrke vrfheelthairs in 25 countries. We estimate to have impacted the lives of over 70,000 Sndlviduals, based on UCP Vvheels for Flumantty's multiplier. which takes the birth rate in each country and estirnates that one wheelchair Impacts the ben¢fioary's lrfe in fvll, 0.75% of his or her Primary caregNerfs life and 0.25% of the Surrounding family members (siblings) lives. In 2023. we distributed a total of 2,710 wheelchairs. impacting the lives of over 9.200 individuals. We delivered wheelchairs in Ghana, Haili, Kenya. Uganda and UkTaine. Kenya Stnce its opening in 12018, Walkabout Wheelthair Assembly and Repair Centre in Nanyuki, Kenya has di5tribuled over 7,600 wheelchairs and has become the biggestwheelthair provider in the country. The business model for our ¢entre is unique, In Ihal rathei than rnanufacturing wh¢El¢halrs from $¢ro1th. or irnporting them in ready-made, we purchase or receive donated wheelchair parts and assemble them at our centre saving significant amounts on shipping and crEab"ng IDcal ernployment opportunities. At the Kenya centre, wheelchairs are assernbled and dislribuled by our trained local team in our new stat&of4he-art faality. wth five of our employees belng wheelchair users and one being an amputee. Our Centre can dlstribute an average of 100 wheelchairs per month, including outreach distributions. We cofflpleled ouir¢ath di51ribution8 in 2023. in Bungoma. Kitui, Kisii and Trans Zoia. where the team dislTibuted 499 wheelchairs. Our physiotherapy unit has been working al lull capacty, providing Muneeded Iher8py 10 81 least 53 children. In Junè 2023, we ree£Ned from US $0fy81 enterprise Freè eelchair Mi85ion 976 wheelchairs. vlhlch wère giant8d in bglh 2022 and 2023. We We granted an additional 488 cairs. Ihat aThived in early 2024. By employing local staff wlth disabili15e$, we ¢onlribute to reduoe 8tigma on disabilie$, Inve$l ba¢k into the local economy whilst at least doubling our capacity for %theelchaii provisioning in the region. The existence of a perrnanent centre in Kenya also all(Iws us to offer 8 hollstlc S8rvice Io p80ple wth disabilities, including rehabilitation, carer training. promsion of assistive device5. cornrnunity outreach and follow-up.
WALKABOUT FOUNDATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Uganda Northern Uganda is one of the poorest parts of the gion and the heart of one of the biggest refugee settlements in the world. With hundreds of people crossing the border every year, fleeing conflict and farnine in South Sudan. Uganda is now host to over 1 million refugees. An asts)nishing 6% of the population needs a wheelchair. This year, we cornpleted one distribution in Uganda, sourcing all wheelchairs from our Mtheelchair Assembty and Repairs C8ntre in Keny8. In August, we delivered 320 wheelchairs and 50 tricycles, through our pathership with Hope Health Action in Bidi Bidi. In addition. through our Monitoring, Evaluation and Repairs program in Uganda since 2021, we followe¢J-up with approxirnately 565 recipients (who beneffited from our programs since 2017) and perfomied 92 repalrs in the Arua 3T&a. Haltl Hope Heajth Actson IHHAI is our leading parts)er in Ha. In September, we received an in-kind donation from Free INheelchair Mission of 976 basic wheelchairs, with another 976 granted in 2023 and meant to be delivered In 2024. Bè¢ause of the escalats'on of violence and unrest in Haiti, in earty 2024, this delivery was put on hold. In addition, we provlde¢J Qui local partners with Worfd Heath Organisation Basic Wheelchair Training. In collaboration wth HHA, our Distributlon Centr& In Cap-Haitvan bec8me the slngle largest wheelchalr provldeT in the Country and filling a cntical service gap. Despite the concerning and deteriorating sociakeconomic onditigns, continuous political tumioil and sorial unrest in the country. by the end of 2023. we rn89e to continue our work, vrith a nelwork wth over 30 local dislribution partners. Ghana In 2022, w• r•cèNèd a $50,000 grant from corporate sponsor, Tullow Oil, to procure 175 wheelthairs and provide wheelchair fitbng training in Ghana. This distribution and training took place In May 2023, in parthership vjith th¢ orthopaedic Training Centre and Kabaka Foundation. This proj¢¢t will indude o follow-up program in 2024. Ukraln• In 2022. wfch the Russian invaslon af Ukralne, we fundralsed appmx. £33.5k for wheelcThalrs to be sent to county. largety sponsored by corporate sponsor, Bloomberg Philanthfopies. We partned with Momentum 4 Humanity lo deliver a container of 95 wheelchairs from Iheir intemational programme, CLASP. and some vtheelchair5 that werg locally procured. In 2023, these chairs were delNered in Lviv.
WALKABOUT FOUNDATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 3. R8habllltstlon Centre8 Since 2016 we have been prowding rehabilrtation services to children in India and in Kenya. The effects ol regular appropriate therapy have been astouriding,. every child has rnade physal progress, from those who We before unable to sit independentty gaining muscje strength and control, io a child who have learned to walk for the first time. Indla Since 2019, our JJ Walkabout Centre in India, njn in parlnership wth the Je8V8n Jyoti Insb"tute. h85 offered rehabilitstion and basic care advice carers of children with mobility disabilities, in the 5t8te ol Uttai Prad85h. This not onty gives these carers essential skills that will 2qUiP thern to potentialty eain a living in the future, but also attempt lo reduce the stigma of a disability in the county. Thirty children at thè JJ Walkabout Centre re1ve speaalised physical and occupational therapy every day both on&on-one from a dedicated phy5iOtherapist and caregivers at the centre. Kenya Two highly qu81ified Occupational Phy&otherapists from our rehabllitatSon unit at WalkaboLrt Wheethalr Assembty and Repair Centre provide therapy to at least SO thildren monlhly. In addition, we also sel up a Reusable Diapers prolect, whith provides a Iow-COSt and sustainable solution to disposable diapers that these children will typicaty require indefinitely. Fundralslng We believe 2023 has been a dfficult year for the charitable sector in the UK overall, wilh most, but espeaally 8Tn8ll cth8ribes like ourselves witnessing signTficant reduction in donations from communlty fundraigng or major donots. sin 2022. we took the strat¢gi¢ dgcision to focus our fundraising activitses ther our flagship event5 or on direct donations from generous, lon9-Standing and ¢ontnuous major donors. comprised by a few corporates and individuals, Trusts & Foundations, with ear-marked, program-oriented asks. As such. our team is now leaner and retle¢ts that stralogy. In 2023 we received appr0MatelY £75,)0 from corporates and close lo £31,OCM) from individuals. Trusts & Foundation& In 2023. we continued to participate in a few drtrerent even15 and ¢ampaigns, espeaalty onllne, Involthng sports challenges (Berlin and London Marathons) ?nd s¢hoo14ed fundraising c8mpargtTS. We were a150 able lo retum with some of our flagship, Walkabout Found8tion bi8nded 8¥8n15, such as our Design Fashion Closet Sale, which alone raised close to £57,000. We also ran brand partner5hip5, wher8by some of our lon*tirne supporters promoted events allowed us to fvndraise through those events (direct donations, percgntsge of sale. raffie iickets, elc.). Overall, our events and campalgns raised approximately dose to £116.000. We continue to be supported ty a few corporate donors and seek for more such support. Collaborats'crf)s like this enable us tD LK)th r815e awareness of our work and vitsl funds for the cause of mobility disability amongst the local community. From supporting specific projects, generously funding our operations, to sponsoring our events, this yearfs partnerships have been vrtal to allow us to continue to reath hundreds of people in desperate need around the world.
WALKABOUT FOUNDATION UK TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Flnaneoal rgvl•w Our iotal revenue in 2023 equalled £524,697 kavlng us wllh a net loss of £157,659 et year*nd. Our core a¢tlwty, programmes expenditu, h9s been affected by price Inrxegses globalty. In additlon to that, we continued to experience Inase$ in expenditures regarding travel and shipments of wheelchair containers due to an overall global suppty chain crisis and currency devaluabon in rtain cases. Our fixed costs In the UK and Kenya have also seen increases due to the cost.of-living crises seen in both gIonS. In 2023 we experienced an increase in income levels from £488,551 the previous year 19 £524,697. Thi5 was primarity due to fundraising actwibes resuming after the impact of COVID-19. wh6ch had resulted In W81kabout being un8ble to focus team's efforts in delivering prograrnmes. Programme expenditure totslled £394.836. down from £439,302 in thè pravlous year, wlth Ihe majorty allocated to our wheelchair programmes in Easl Africa. Daspit2 the overall inflationary scenario described above, the decrease in our programme expenditure reflects our abllity to leverage our operations and wheelchair distribution with wheelchairs donaled-in-kind. That was only possible as we have beet) investing in human resources during the last five years. to be able to adapt these basic model chairs to the needs of our beneficiawies. still 8¢hieving the high-level of qualty according to ours and WHO defjned standards. In total 73% of total expenditu was direct in programme$, 15% in fundcaising and development and approximatety 12% in administration and governance. Total net assets at year 8nd equalled £245,497. of which £165,794 were Testricted and £79,703 were unrestricted reserves. It is the policy of the foundation that unrestricted lunds which have not been designated for a specific use should be maintained al a level equivalent to beeen threfr and six-months expenditure. This curTentty stands at £125,000. induding ongoing cornmitments toward5 the purchase of wheelchairs 8t any given point in ts"me, and running costs and oblsgations of our offi¢e in London and our wheelchair assembly line in Kenya. The Trustees consider that reserves at this level will ensure that, in the event of 3 signifirant drop funding, the charity wll be able to continue its current activities, while consideration 15 given to ways in whh addana1 funds may be raised. Thls levèl of resèrvès w83 m3inialMd throughout th8 yèar. In the last years, we hold a significant portion of our reserves in the US, with our sister rnPany, The Walk8bout Foundation, Inc. writing grants to wa1kabjt Foundation UK as we see need. That 15 because although we fundraise in Ihe US. the entirety of our programs is managed in the UK.
WALKABOUT FOUNDATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Rlsk Management Walkabout has traditionally relied on a relatniety small number of key donors, mostty high nel worth individuals and famity trusts, to fund the majority of its operations. In order to mitigate the fisk of conbnued uncertainty that can affect the spending in charitable activit$ of suth donor5. as well as the overall risk of doncf dependency and inherent donor fatigue. we have been working towards expanding and dNeTsifying our donor base over the last years. We aim to continue fvndraising among our recuiiing dunors. bui also to cOn'ne expanding our donor base lowards more corporate and grant-making bodies as well as engaging more local donors in some of the countrie5 where we operale. A5 a longer-temi goal, we would like to be part of larger institutional grant5 and consortia. where we can work with agencies and partners around the world to both erS[ty our income and 3upport rnany more benefirAaries. Currency lluctuauons are 81sts a risk as we operate in the UK but mosl of our procurernent Costs In US dollars as the currency of trade. This is partly rnitigated by holding our asset8 and raising funds in both US Dollars and British Pounds. Being a relatNety small organisab'on can create a risk of high dependency on any given member of staff. We rnitl9ate this risk by training all members of the team in more than one area and creating a well-structured workplan and a contingency plan for every key role in the organisation. Our co-founder and Covthair Carolina Gonzalez-Bunster has a150 been instrumental and pemianently involved and reliable in heading the foundation since inception, on a volunteer basi5. One of our main chalenges conts'nues to be the logistics of sending containers with the right wheelchair foT every 3in9le rerApienl, based rm their body size, condrtion and INing environment, to places where the need is the highest, but where access Is bgi$ti¢8l thallenging for our team members and volunt¢¢rs by tnc¢plDn. The logistics of following up wth our benefiaaries and running 8nd monitoring our rehabilitation centres also present a series of organisational and safety considerations. We try to mitigate the risks assooated with our wheelthair distribub.on prote$3 by-. lil providing gUlar safety and first aid training to our te3rn members and regularfy update a1 monitor our travel poliw.. only working with a select number of top-quality wheelchair producers. to avoid production and shipping d81ay5 and 8nsuTe that our team is familiar with the product.. only sendSng wheelchalrs to ¢ountsies where we h8ve Injsled, vetted lo¢81 partners wllh 111 dear experience in disabilty, 12) a trained team to collect sufficient data Dn re(ipients both pre and post distributions. 13) experience with logistics and {41 knowledge on wheelchair f1n9 and disiribution., livl increasing our local Presence in some key countries to reduce the reliance on bringing teams from abroad for ev8ry disthbution., Iv) hang ¥ppropriat* insurance policies in place. We deal wth vulnerable chndren and adutts. mostty suffering from ill heath and liying in poverty and thallenging environments. We have a strict safeguarding policy in place and ask our staff, volunteers and all Ioc81 partners to acknowrtedge and abide by IL We also have systems and pro¢etlures In place to protect beneficiary and donor dats according to GDPR and fundraising rogulatlons. Walkabout holds several Insuran p1(5 to mitigate the imp8Ct of ri5k3 beyond our risk asses8mants.
WALKABOUT FOUNDATION UK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Plang forthe future In 2024, we plan to maintain our work in Haf(i to the extent possible. through our p8rtner$hip at the HH WalkabDUt Wheelchair Distribution Centre. ahvays reviewin9 carefvlly the risks as80¢iated with p¢litl¢al Instability and Social unrest in the region. We also plan lo replicate tre successful 2023 Monrioring & Evaluation programtne piloted in Uganda in 2022, r8plicated in Kenya and the Dominican Republic in 2023. expanding into Ghana in 2024. Furthermore, wp wll consider increasing our wheelthair programs into neighbouring countries in East Alripa and further, from our Walkabout IM)eelchair Assembly and Repair Centre In Kenya. We have successfully tested thls model in 2023, shipping a ¢onloiner of wheelchairs from Kenya to Ghana. In 2023. we have strategicalty revisited the support to our rehabilitation centre in India and how much Impact we cause there versus other areas. and at this point li is uncertain that we continue lo support that project in 2024 8nd beyond. We plan to be able vlsil our centres in Kenya and work on expanding our work In these reglons. We're also organizing further skill Irginings for ¢)ur locel staff, as well a5 training and increasing number of local volunteers in the various countries we perfomi ourwork. TD efficienlly sustsin and grow our Projects, we continue to focus on Ihe "hub model.. By developin9 and replicating our centres, we're decreasing the reliance and dependence on our presence and expertise, as skills develop locally. Having a holistic approach to whedchair prow5ion and rehabilitation in developing countries allows us to serve benefficlaries on ongoing bas15, and gives meaningAJl ernployfflent to people from local Communities. which is crucial to sustsin this model in the long term. Walkabout will also continue to strive to fund meaningfvl and relevant researth to find ¥ cure fc)r spinal ¢oid injuries. To date, our grants towards research have focused On projects at an advanced stage, where we felt that our impact could be the greatest. In 2024, through our sister company The Walkabout Foundation, Inc. in the US, we wll continue supporbng Dr M A. Perez, PT, PklD in her future spinal cord injury Studies, and will polentlolty id¢nltfy new felevant projects to fund In addon to that beyond 2024. Structure, governance and management Walkabout Fwndation UK is a company limited by guarantee, and its goveming d(Ument is its Memorandum and Articles of Association. It was fomed on March 2, 2011 and registered as a charity wth the Charity Cornmission in England and Wales on March 22, 2031. Walkabouvs Twustees are alsg the directors for the purpose of Company Law. They are r¢5PDnsibl8 for overviewing the organisation's strategy, approving Its annual budget and prepariny the Trustees, Report and accounts for each financial year. The Trustees who served during the ye8r and up to the date of signature ofthe finanLYal statements were.. C Gonzalez-Bun5ter. ¢FOUnder & Chairrnan of the Board L Gonzalez-Bunster, Co-Founder Avan Holk, Treasurer, C¢-Ch¥lman A Chryssic4poulos, Secretary F Abuall AAlrnashal S B¢nfigllo R Gonzalez-Bunster Z Advani
WALKABOUT FOUNDATION UK TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 None of the Trustees has any benefiual interest in the company. All our Trustees dedicate their h'me on a wo bono basi$. 1 ol the Trustees are members of the company and guarantee to conlribute £1 in the event of winding up. TheTe 15 8 Directo¢s and Officerfs insurance policy in place. The Board appoint5 or retires Tru51ees according to tht Art@S of Incorporation. N•w Trustee$ are vètted by the Board and appointed based on their knowledge of the non-for-profit sector, mobilty disability. andlor expertise in fundraising. They are expected lo uphold the aims and ethos of the charity at all times, take a pletwe stance. asslst when required and attend quarterfy Board Meetings, which can onty take place Mth the presen of a quorum. Induction of new trustees is not fomali$ed. It 1$ through a specffic iTrhouse training programme designed for that purpose. Prior to their appointment, all new Tiustees will have met with the Chaiman and the Chief Executive Officer ICEOI to gain guidance on org8ni$8tion, f(5 objectives. policies and procedures. Trustees also have acce55 to the ch3rity'5 Melnorandum and Artide$ of Association, to numerous exteTnal training course5 and to the Charty Commission's online library, which contains in4epth advice on the sectoffs latest rules and regulations. The Chainnan ol the Board of Trust8es is Ms. Carolina Gonzalez-Bunster. CcrFounder of Walkabout Foundation, in tharg2 of direct oversight of Ihe CEO. The Chaiman works dosety together and wth the CEO and the Programme$ Managei. to eii8ure Ihat the sirategy, objectives and budget approved for the period are suceessfuly irnplemented. Key management remuneralion is reviewed annually by the Board of Trustees, tsking into account inflation and benchmarked again3t industy standards by consulting with head hunters, industry specialists and published data, such as the CIPD ernployee outlook report. Avdltor A resoluon proposing thatArnold Hill & Co LLP is d*èmÈd to bè reappointed 88 auditors of Ihe company wll be put to the members. Dlsclosure of Inforniation to auditor Each of the Trustees has confimied that there Is no infomalon of whl¢h they ate aware whiGh Is relevant to the audit. but of which the audf(or Is unaware. They have further confimied that they have taken appropriate steps to identify such relevant information and lo establish that Ihe auditor is aware of such infomation. The TNstees' report w85 gpproved by the Board ol Tnjstees. C GOnza2-BunSter Chairnian of the board Dated. ..Q91.o.8124......
WALKABOUT FOUNDATION UK STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees, who are also the directors of Walkabout Foundatson UK for the purpose of ¢ompany law. are responsible for preparing Ihe Trustees. Report and the aunt5 in a¢cordan¢e wth applicable law and Unlted Kingdorn Accounting Standards (United ngdorn Generally Accepted Accounting Practi1. Company Law r8qUiT8S the Trustee5 ID prepare accoun15 for each ffinanEia1 year which give a true fair view (rf the state of affalrs of the FoundatSon and ol the In¢omln9 resources and application of resources, widuding the Income and expenditu, of the Foundab"on forthat year. In preparing Ihese accounts. tho Tru$tee$ ore requlred lo.. - select suiiable accounting policies and then appty them o)nsistenty', observe the rnelhods and principles in the Charities SORP 2019., make judgements and estimates that are rt8$onable and prudent.. state whether applicable UK Accounting Standards have been followed. subject to any material departures disdosed and explained in the accounts., and pr8pai8 the ac£ounts on the going concem basis unless it is inapproprkgle lo presumg that the FoundatrJn 11 continue in operation. The Twstees are responsible for keeping adequate accounting records that disclose wth reasonable accur8cy al any time the financial position of the Foundation and enable thern to ensure that the 8¢counts comply bwlh the Cornpanies Act 2006. Th¢y ar¢ 9150 responsible for safegu3rding the 05s¢ts of the Foundation and hence for taklng reasonable steps for the prevention and detection of fraud and other irregulaiib"es.
WALKABOUT FOUNDATION UK INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WALKABOUT FOUNDATION UK Oplnlon We have audf(ed the accounts of Walkabout Foundation UK Ithe 'Foundation'l for the year ended 31 December 2023 which comprise the Statement of Financial ACtiVe$, the Balance Sheet, the Statement of Cash Flows and ihe notes to the account5, induding a summary of significant accounb.ng policie5. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Rapoitng Standard applicablè in the UK and Republic of Irelaftd (United Kingdom GeneraltyAccepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view ol the state of the charitsble companls affairs as at 31 Decernber 2023 and of its incoming resources and application of resource$, including its income and èxpend6ture. for thè yèar then hav& been prop8rty prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance the requirements ofthe Companies Act 26. Basls for oplnlon We conducted our audit in accc*rdance with International Standards on Auditing ILIK} IISAS (UK)) and ap lcable 18w. Our r85ponsibiltts8s under those standards are fvrther described in the Auditoffs responsilitIeS for the audit of thg financial stat&m8nts section of gur report. We are independent of ihe Foundation in acCOrdae with the ethical requirements that are relevani to our audrt of the financial statements in the UK, Induding the FRC'S Ethical Standard, and we have fulfilled our other ¢thi¢al r¢spon5ibilitie$ in aOrdanCe with the$¢ requirements. We believe thatlhe audit edence we have obtained is sufficient and appropriate to provide a basis for our opinion. Coneluslons relatlng to golng concern In auditrng the financial statements, we have condvded that the Trustees, use of the going concem basis of awounting ill the preparation of the finanual staternents is appropriate. Based on the woth we have pertomed, vle h8ve not identsfied any materfal un¢ert8lnlies rolatfjng to events or condition5 that. individualty or collectively, may cast 51gntficant doubl on the Foundation'5 ability to COTltinu8 as going concern for a period of at least ts¥elve months from when the finanaal statements are aulhorised for issue. Our responsibllitles and the responsibilitie5 of the Trustees wth respect to going concem are described in the relevant sections of thls report. Oth?r infomiatlon rhe other Inlortn8tion comprises the information induded in the annual report other than the finarla1 stalements and our audito¢s report thereon. The Trustees are responsible for the other information contained within the annual report. Our oplnion on the financi81 stslements does not cover the other information and, except to the extent othetwise expliatty 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. consKler whether the other information is materially inconsistent wth the financial statements or our knowledge oblained in the Gourse of the audit, or othe18 appears to be materialty misstated. If we identify such material inconsislencie5 or Ppparenl materi81 mi551atemen15, we are required to determine whether this gives rise to a rnaterial missl8temenl in the finanryal ststernents Ihern5elves. If, based on the work we have perfDitned, w? ndUde that there is a material misststement of this glher information, we are required to port that fact. We have nothing to report in this regard. Opinions ¢YI other matters prescrfbed by th• Cornpani•5 Act 2006 In our opinion, based on the work undertaken in the course of our audit.. Ihe infomalion given in the Trustees, report for the ffinandal year for which the financial statements gr¢ prepared. whl¢h includes the directors. report prepared for the purposes of company law, is consistent with the nan¢ial $lalements', and the directors, report included wthin the Tru$tee$' report hgs beon pre[e in a¢conl8nce wf(h 8ppll¢ablg18981 requirements_ 10
WALKABOUT FOUNDATION UK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WALKABOUT FOUNDATION UK Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the Foundation and ts environment obtained in the course of the audit, we have not identified material misstatements in the directors. repk)rt included wthin the Tru5tees' report. W? have nothing lo report in respect of the folowing matters in relation to which tre Companias Act 2006 requirtr$ us lo report to you rf. in our opinion.. adequate accounting recoids have not been kept, or rebjms adequate for our audit have not been received from branches not visited by us,. or the ffinanual staternents are not in agreement with the accountyng record5 and tUms". or certain disclosures ol trustees, remuneratton specified by law are not made.. or we have not received all the frnfomiation and explan8b"OhS we require loi our audit- or the Trustees were not entitted to Prepare the finanaal statements in accordance with the 5rnal1 companies regirne and take advantage of the small companies, exernplions in preparing the Trustees. report and from the requirement to prepare a strategic report. R6sponsibiliti8s of Trustees As explained more fully in the statement of Trustees. re5ponsibilitie5. the Trustees. who are 8159 the d1ctOrS Of the Foundatstsn for the purpose of company law, are responsible for thè preparation of th8 ffin8nu81 statements and for being satisfied that they give 8 Iwe and fair and for such internal control as the Trustees determine Is fie5$ary to enable the preparation of finanaal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing Ihe Foundats'on's ability to continue 85 8 going concern, disdosing, as applicable, matters related lo going concern and usiny Ihe going concern basi5 of accounting unless the Trustees either Intend to liquidate th• charitable company or to cease operations, or have no realistic aliemative bLrt to do 50. Auditorf¥ rg¥ponslbllltle8 for the audlt of th• flnanclal statements Our objectwes are to obtain reasonable assurance about whether the financial statements as a whole are free from rnatenal misstaternent. whether due to fraud or error, and to issue an audrtor's report that indudes our opinion. Reasonable assuran is 8 high level Df assurance but is not a guarantee that an audit conducted in accordance th ISAS IUKI will ahayS detect a material misstatement when li exists. Misstatements can arise from fraud or error and are considered rnaterial if, individualw or in the aggregate. they could reasonabty be expected to influence the economic decisions of users taken on the basis of these finanaal statements. Thè oxlènt lo whkh our pr¢¢edures are capable of detecting irregularibes, induding fraud, 1$ detsilgd bolow.
WALKABOUT FOUNDATION UK INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WALKABOUT FOUNDATION UK Extent to whl¢h the audlt was consldered eapabl• of detectlng lyregularltles. Includlng fraud Th8 objectives of our audit, in respect lo fraud, are.. to identify and assess the risks of material mi5Stalement of the financial statements due to fraud." to obtain sufficient appropriate audit evidence gardIng the assessed risks of material mlsstatemenl due lo fraud, through designing and implementing appropriate responses,. and to respond appropriatety to fraud Dr $u$pe¢led fraud identified during the audit. However, the primary responsibillty for the prevention and detection offraud rests with both those charged th govemance of the entty and it8 management. Our approath was as follows.. We identified ar8as of law5 and rulatiOnS Ih8t could rg85on?bty be expected lo have 8 mat8rial 8ffecl on the financial statements trom our gener81 ¢ommer¢ial and SeOr experience, and through discussion wlh the directors and other managem¢nt las requir¢d by 8udrtlng $tsndard$l, and ai$¢uss¢d th the directors and olher management the poliaes and procedures regarding compliance wth laws and regulations; We considered the legal and regulatory frameworks directty applicable to the finanaal statements reporting fr8mework IFRS 102 and the Cornpanies Act 20061 and the ielevant tax compliance regulations in the UK., We considered the nature of the Industry, the ¢ontrol Ènvironment and buslnèss perfomianc•, Indudlng the key drivers lor management's r8tllun81alion-. We wmrnunicated identrfied laws and regulatlons throughout our team and remained alert to any néicatlons of non-¢ompliance throughovt the audit., considered the procedures and eontrols Ihat the cornpany h85 estatlished tts addsS risks identffied, or that otherwise prevent, deler and detect fraud., and how s¢ni¢r management monitors those programme$ and ¢onlrols. Based on this understanding we designed our 3udit procedures to identify non<ompliarTrce with such laws and regulations, Where the risk was considerBd to be higher, wg perfomied audit procedures lo addr8s5 each identified fraud risk. These procedures included.. testing manual journ315", reviewing the financial statement disclosure5 and testin9 to supporb'ng documentation.. performing analytical procedures,. and enquiring of management, and were designed to piovid8 reasonable assurance that Ihe financial statements were free from fraud or error. Owing to the inherent limrtations of an gudil, thtrre 1$ an unavoidable risk that w? may not have dele¢l¢d some material misstatements in the financial statements, even thtsugh we have properly planned and performed our audit in accordance wth auditing standards. For example, the further Femoved non-compliance with laws and regulation8 (irregularities) is from the events and transactions reflected in the finanual statements, the less likely the inherent limited procedures required by audrting standards would identify it. The risk is also greater regarding irregularits.es OCmng due to fraud rather than eTror. as fraud involves intents'onal concealment, forgery, collusion, omission or mi5repre58ntation. We are not responsible for preventing nonmplIance and cannot be expected to detect non- compliance with all law5 and regulation5.
WALKABOUT FOUNDATION UK INDEPENDENT AUDITOR'S REPORT IcoKfiNUED) TO THE TRUSTEES OF WALKABOUT FOUNDATION UK A lurther deseJiption of tsur responstblltties is available on the Finanaal Repo"n9 Council's websrte al.. https'.11 vhvw.frc.org.ukJauditorsresponsibilitses. Thi$ description forms part of our auditofs report. This report is m3de solely to the company's rnembers, as a body, in accordance with section 391 of the Companies Ad 2014. Our audit work has been undertaken so that we might stste to the compan$ mernbers those matter5 we Ère required to state to Ihem in an audrtots report and for no other purpose. To the lullest extent pemiitted by law. wg do not accept 01 855ume responsibilty to anyone other than the cornpony ¥nd th¢ Company's mernbers as ? body, for our audit work. for this report. or lor the opinion$ we have fom)ed. Mr Justin Moore (Senior Statutory Audltor) for and on behalf of Arnold Hlll & Co LLP CharteredAccountants Stabjtory Audltor Sixth Floor Capllal Tower 91 Waterfoo Road London SE1 8RT 13-
WALKABOUT FOUNDATION UK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrfctèd RtrIcted funds funds Total 2023 Total 2022 Not•s Ineome from: Donations and legacies Charftable actlvitles 220.396 116,189 188.112 408,508 116,189 448,152 40.399 Total Ineoma 336,585 188,112 524.697 488.551 Raising fijnds 89,314 89,314 104,165 Charitable advthes 325.280 267.762 593.042 608,838 Total resources expended 414,594 267,782 682,35S 713,rKJ3 Net expenditure for the perlod (78,0091 {79,6501 1157,6591 1224,4521 Fund balances at 1 January 2023 157.712 245,444 403.158 627,608 Fund balanc•s at 31 D8c8mb8r 2023 79,703 165,794 245.497 403,156 The statement of finandal a¢tivib"¢$ o1$0 complies with the requirements for an incorrE and expenditure account under the Companies Act 2LK)6. 14-
WALKABOUT FOUNDATION UK BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Fixed a8$ets Tangible assets Current assets Stocks Debtor Cash at bank and In hand 2,672 3,563 10 107,085 12.387 134,537 153.512 8.277 249.741 253.989 411.530 Creditors.. arnounts falllng duo vAthln one year 12 {11,164} 111.9371 Net ojrrent assets 242,825 399.S93 Total a5sets1os$ current Ilabllltlej 245.497 403,156 Income lunds Restrlcted funds Unrestrfcted funds 14 165,794 79,703 245,445 157.711 245,497 403,156 The ac£ounts were approved by the Trust8es ...101Q712I.... C Gonzalez£un5ter Trustee Comp8ny Roglstratlon No. 07549393 15
WALKABOUT FOUNDATION UK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from opèrdtlng aetrvities Cash absorbed by operab'ons 19 1115,2051 1342.1921 Investing activities Purchas& of tangibl& fixod ass•l$ 19701 Net cash used In Invostlng a1¥111?$ 1970) Nat dèer•as• In Cash and ca8h equ5valents 1115,2051 1343.1621 Cash and (ash equlvalents 81 beglnnTrig of year 249,741 592.904 Cash and Cash equlval•nts #t end of year 134,537 249.741 16-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng Pollcles Cornpany Infomiatlon Walkabout Foundation UK is a private MpaNY limited by guarantee incorporated in England and Wales. The gi5tered office is Worlds End Studi05 Ltd.,132-134 Lots Road, Unit 225, London SW1 D ORJ. 1.1 Accountlng Con¥tion The financial statements have been prepared in accordan wth the Foundation's Igoverning documentl, the Companies Act 2006, FRS 102 The Finanaal Reporting Standard applic8ble in the UK and Republic of Ireland. l FRS 102.1 and the Charities SORP "Ac(xJuntsng and Reporting by Ch8ritl8s'. Statem8nt of R8commended Practice applicable lo charities preparing their accounts in accordance wlh the Fin?ncipl Reporting Standard appllcable in the UK and Republic of Ifeland IFRS 1021" (effective 1 January 20191. The Foundab"on is a Publ1¢ Benefit Entfty a$ defined by FRS 102. The finandal statements have departed from the Chadties IA¢¢ounts and Reports) Regulations 2008 only to the exient required to provide a true and fair view. This departure has involved following the Statement of Recornrnended PTactice for charities applying FRS 102 rather than the version of the Stslernent of Recomrnended Practice which is referred to in the Regulalions bul which has sill been vnthdrawn. The accounts are prepared in Sterling, which 15 the functional cufrency of the company. Monetary amounts In these financial statements a rounded to the nearest £. The accounts have been prepared undeT the hislorical cos1 convents'on. 1.2 Going Concern At the time of approving the financial slatements. the Trustee5 have a reasonable expect8tiOn that the Foundation has adequato re$ouTces lo continue in operational existence foi the foreseeable futu. Thus tho Trustees continue to adopt the going concem basis of accounting in preparing the financjal staternents. AI 8s5ets and liabilities are expected to be recovered and settled at the amounts set out in the Balance Sheet at the reporting date. 1.3 Charltablè Funds Unrestricted )lJnds are available for use at the discretion of the Trustees in furtherance of their charitable obj¢ctives. Restricted funds ore subj'èct to specific ¢onditOons by donor9 as to how théy m8y b8 useij. Endowment funds are subjed lo specific ndItionS by donors that the capital must be maintslned by the ¢harfty. 1.4 Incoming ReSoUeS Income is re¢ognised when the chanty is legalty entitled to it after any performance condltions have been rnet. th8 amounts can be m¢a$urtrd reli8bty, and il is probable that Incomtr wlll be re¢eivsd. Cash donatlons are recognised on receipt. Other donations are recognised once the Foundalon has been nottfied of the donation, unless perfomance conditions require deferral of the amount. Income tsx recoverable in relation to donatr'ons reiVed under Gift Ad or deeds of covenant is recogThised at the time of th¢ donation and al the time of Gift aid declaration. Legacies are Tecognised on receipt or otherwise rf the Foundation has been notffied of an impending distribution. the amount is known. and receipt is expected. If the amount is not knovm, the legaw is treated as a contingent a85et. 17-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng Polleles Icontlnuedl Expenditure is recognised orhce there 15 a legal or constructsve obligatson to transfer enOMiC benefit to a third paty, it 18 probable that a transfer of econonmc beneffits will be required in setuement. and the amount of ihe obligation can be Measured ieliably. Expendiiurè is cla$sitlad by actlty. Th$ costs of each activity are made up of the iotsl Of dir$¢t ¢o$ts and shared costs, including support costs involved in undertaking each activity. Direct costs 8ttribut8ble to 8 single actlvty are allocated diredy to that actlvlty. Shared costs which contribute to more than one acts.wty an SUPPOrt costs which are not attributab18 to a single activity are apporboned belween those activitie5 on 8 basi5 consistent with the use of resour$. Central staff c05t5 ale allocated on the basis of time spent, and depCiatIon charges are allocated on the portion of th8 a5S8t'S U5¢. Resources expended a COgnISed in the peiiod in which they are incurred. Re80urces expended in¢lude attributable VAT which cannot be recovered. 1.5 Tangibl8 fixed a55ets Tangible fixed assets are initialty measure(l at cost and subsequenuy measured at cost or valuation, net of dePck4ton and aThy irnpaimient losses. Depreciatson 15 recognised so as to write off the cost or valuation of assets less their residual values over thar useful lives on Ihe following bases.. Fixtures, frttings & equipment Computers 25% straight line basis 25% str8ight line b8515 The gain or loss arising on the d15P05al of an 35set TS determined as the difference between the sale proceeds and the carying value of the asset. and Is recognised in the 5tatBm8nt Df financial ECtltieS. 1.6 Impalmient ol Ilxed assets At each reptsthng end date. the Foundation reviews the carrying amounts of its tangible assets to determine whether there is any Ind8150 th81 those assets have suffered an Impaimient loss. If any such Indallon exists, the recoverable amount of the asset is estimated in order to determine the extent of the impalrment loss lif any). 1.7 Stocks Stocks are slatefl at the lower of cost and estimated se51ing pri less costs to complete and sell. Cost mprises direct materials and. where applicable. direct labour costs and those overheads that have been incuwved in bringing the stocks lo their present location and condition. Items held for distritrwjiion at no or nomin81 consideration are measured the lower of replacernent cost and cost. Net reallsable value is the estimated selling pri less all esbmated costs of completion and costs to be inourred in marketing. selling and distribution. 1.8 C•sh #nd Cagh Equlv•lgnts Cash and cash equivalents Indude cash in hand, dèrK)sil3 held 8t Call with banks, other short-lerni quid investments with original maturitl85 Qf three month5 or les5, and bank overdrafts. Bank ovwdra1ts are shown within borrowings in current liabilrties. 18-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounting Policle8 Icontlnuedl 1.9 Financial Instruments The Foundation has elected to appty tho provisions of Section 11 'Ba$ic Finanual Inslruments, and Section 12 'oth8r Financi81 In5trurnenls IssUe5' Df FRS 102 to 811 of its finan1 instruments. Flnanckl instruments are recognlsed In the Foundatlon's balance sheet vknen the Foundation becornes paty to the contractual provisions of the instrument. Finanaal assets and liabilitles are offset, with the net arnounts sented in the financial Stalen18, when there is a legalty enforceable right to set off Ihe recognised arnounts and there is an intention to settle on a nel basis or to realise the asset and setue th& liabllity simultaneousty, Baslc FlnanclalAssets Basic finanaal assets, whith Include debtors and cash and bank balances. are inalty measured at transaction price induding transaction costs and are subsequenuy carried at arnoTb5ed cost Using the effective interest method unless the arrangement constitutes a financing transaction. where the Iransartion Is Irigasured at the present value of the future receip15 di%ounted at a rnark¢t r¥1 of int•mst. Financlal asséts dassffied as re1vable blrithin one year are not amortisÈd. B•si¢ Financial Liabilid•s Basic finanaal liabilities. inrjuding trade and other payables, are in"alty recognised at transaction price unless the arrangement constitutes a ffinanang transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequentty carried al amorts'sed c05L using the effective interest rate rnethod. Trade payable5 ale obligations to pay for goods or 5etvice5 that have been acquired in the ordinary course of operations from suppliets. Accounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as nondcurrent liabilities. Trade payables are recogni5ed initialty at transaction price and subsequenty measured at amorb5ed c05t using the effectNe int8r8St m8thod. D•r8cognltlon of Finan¢lal Liabilities Financi31 liabiltties are dereco9nised when the Foundation's conlradual obligation5 explr¥ or aré dischargd or canlled. 1.10 Employ•• B•n•fit* The cost of any unused holiday entitlement is recognised in the period in which the employee's services are rec8iV8d. Temilnallon benefits are re¢tsgni3ed Imrnediatety as an expense when the Foundaoon Is denK)nstrabty ¢ommitt¢d Ic> leminate Ihe employment of an employee or to provide lemiinalion benEfit$. Payments lo det7Ned conthbution Tptirement benefft 8theme$ are ¢harg¢d a$ an expense a$ they fall due. 1.11 Foreign Exchang• Transactions in currencies other than pounds steding are recorded at the rates of exchange prtrvailing al the dates of the tTansactions. At each reporting end date. rnonetary assets and liabilities that are denominated in foreign Currencies are retranslated at the rates Prevailing on the reporting end date. Gains and losses aiising on translation in the period are included In profrt or loss. 19-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donatlons and legaelos Unre$tri¢tgd Restricted funds funds Totsl 2023 Totsl 2022 Donations and glft$ Grant- The Walkabout Foundation US Gift Aid 53,781 185,549 1,(6 187.963 241.744 165,549 1,215 288.666 155.659 3.827 149 22D,396 186.112 408.508 448.152 For the year •nd•d 31 December 2022 193,452 254,700 448.152 Charitable activitig 2023 2022 Fund8 generated from charitable activth'es 116,189 40,399 Anatysis by lund Unrestricted funds 116,189 40,399 116,189 40,399 RaS$lng funds 2023 2022 Fundralsing antl publicity 89.314 104.165 89,314 104,165 For the year ended 31 Docember 2022 Fundraising ond publicity 104,185 20-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charftabl• a¢tlvttie6 2023 2022 Depreciation and impaiThent Programme exp8ns?5 Staff costs Other admlnistrative Exchange rate Ios51lgainl Premises costs 891 394,835 104,199 23,470 8,512 34,074 1,188 439,302 96.105 24,421 {3,4651 30,026 565,981 587.577 Support and governance costs 27,062 21,261 593.043 608.838 Analysis by fvnd Unrestricted funds Restricted funds 325,280 267,762 313,482 295.356 593,042 608,838 Support costs 2023 2022 Audit fees Accountancy Legal and professional Inwranc 5,850 16,653 3.600 16,347 140 1.174 4,559 27,062 21,261 Tru$t•¢8 None of the Trustees lor any persons connected wth them) receed any remunergtion or beneffts fmm Ihe Foundation durfng the ye8r12022.' £nill. 21
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Slaff Costs Thè average monthly number tsf employees during the yearw8s'. 2023 Number 2022 Number Management and administration Piogramrne stsff Fundraising stsff 2023 2022 ges and salaries Social security costs Penslon CDsts 144,859 9.995 3.342 140.031 9,616 2.474 158.196 152,121 There were no employees whosts annual remunoiabon was £60,000 or more. Totsl remuneration for key management personnel, which comprises the Chief Executive Officer only, in the reporting period was £60,00012022'. £33,000 for Chief Operation6 Officer). Total stsff ¢osts of £158,195 12022.. £152,120) was split bets¥een ¢hari18ble athiues £104,199 12022.. £96.1051 and iai5iny fvnd5 £53,99612022." £56.015}. -22-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tanglblo flxed assets FMur••. Cwputsr¥ fftungg & •qulpm•nt Co$t At 1 January 21Y23 400 4,351 4.7S1 At 31 December 2(Y23 400 4.351 4.751 Oepreclatlon and Impalrmènt Al 1 January 2023 Depreciation charged in the year 100 75 1,088 816 1,188 891 At 31 December 2023 175 2,079 Cafrylng amount At 31 Decernber 2023 225 2,447 2,672 At 31 De¢¢mber 2022 300 3,263 3.563 Fixed asset5 capitalised based on nature of the asset. The carying value of Ih?se assets is £2.872 12022.. £3,563). 10 Sto¢k¥ 2023 2022 Chairs in transit Finished ooods and goods lor resale 29,280 77,805 40,172 113.340 107,085 153.512 11 Debtors 2023 2022 Amounts lalllng duè wlthln ono y••r. Olher debtors Prepayments and accrued incLJme 7,534 4,833 4.734 12,367 8.277 -23-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 12 Creditors- amounts follln9 due within one year 2023 2022 (Xher18x3lion and soaal security Accruals and deferred income 4,978 6,186 6,815 5,122 11,164 11,937 13 Unrnstrlettd funds The unrestrcted funds of the ¢harlty ¢omprise the unexpended balances of donations and grants which are not subject lo speclfic condlts.ons by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted fvnds by the trustees for spec4fi¢ pury)(trses. At 1 Janu•ry 2023 Incorning sourc88 Resourc•g exnded At31 DeCeMr 2023 Gwèral funds 157.712 336,585 1414,5941 79,703 Prnvlou$ y•ar: At l January 2022 Incomlng resources Resources expended At31 December 2022 General funds 341,507 233,851 1417,6471 157.711 -24-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 RestrScted lunds The restricted fvnds of the charity comprise the unexpended balances of donatsons arid grants held on trust subject to specific conditions by donDts as to how they may be used. Movement In funds Balance at 1 January 2023 Incoming resou0$ Resource¥ expended Balance at 31 December 2023 Research Haili Uganda Kenya Donation in kind India Ghana Wheelchairs 100 9.079 62.039 350 450 1,987 26,739 17.0921 185,3001 118.000) 1111,5801 1850} 142.1481 12.7921 50,000 18,000 117,120 850 131,079 136,619 42,148 1,000 1,792 245,445 188,112 {267,7621 165,795 During the year, no transfer12022.' £nlll was made from resfficted funds to unresiricied funds. 1S Analy$l$ of n•t aB¥ets between funds Unr•strlct•d R•strlcted funds funds 2023 2023 Total Total 2023 2022 Fvnd balances at 31 December 2023 are represented by- Tangible assets Current assetsllliabilitie51 2.672 77,031 2,672 242,825 3,563 399.593 165,794 79.703 165,794 245.497 403,156 16 Operdtlng leaso ¢ommltments At the reporbng date the Foundation hod outstanding ¢ommltmenls for future mlnimum lease payments under non-cancellable operating leases, whlch fall due a$ ftsllows-. 2023 2022 Wrthin one year 25,800 20.004 -25-
WALKABOUT FOUNDATION UK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 17 Related party transactions Walkabout Foundation UK is connected to The Walkabout FOUndaOn Inc. The tharilies work together for common goals. During the period, The Walkabout Foundation 1nc donated £165.549 12022.. £155,6591 to Walkabout Foundation UK, to be used for funding research projects, prograrnrnes and 9ener81 administration. 18 Analysis of changes in net funds The Foundation had no material debt during thè yèar. 19 Cash generated from operattons 2023 2022 Defiat for the year 1157.659) 1224,4521 Adjustments for.. Depreciation and itnpairm8nl of langible fixed assets 891 1,188 Movements in working capital.. Decreasellinereasel In $tocks Ilncreaselldecrease in debtors (Decreasel in credrtors 46.427 14.090} 1773) (74,1311 5.275 150,0721 Caoh ab$orb•d by operations 1115,2041 {342,1921
Walkabout Foundation UK -31.12.2023 Final for client signature Final Audit Report 2024-0&09 2024-08-09 By.. Transao*on ID.. cBKHBcBI¥j0UAb8zdgC496hwxLy0SJd08yZ 'Walkabout Foundation UK -31.12.2023 Final for client signature History Document created by Walkabout Foundation Idigital(alkaboUrfOUndation.orgl 2024-0&09. 6'.40'.32 GMT Do¢umenl emailed lo Carolina Gonzalez-8unster lcarolina@walkabourfoundation.orgl for 3ignatvre 2024-08-Q9- 6.'40'.38 AM GMT Emall vlewed by Carolin8 Gonzalez-Bunster 1carolina@walkaboutloundalion.orgl 2024-09- 9.'02.58 GMT Document e-signed by Carolina Gonzalez-Bun51ei IGarolina@walkaboutfoundalion.orgl signatu Date." 2024M9- 9..04.01 AM GMT- Time Swr¢e'. ser Agieemenl cofflpleted. 2024-08-09- 9'.04.'01 AM GMT Q Adobe Acrobat S