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2020-12-31-accounts

Annual Report and Unaudited Financial Statements

For the year ended

31 December 2020

Registered company number:07886303 (England & Wales) Registered charity number: 1145176

Sophie Hayes Foundation

Legal and Administrative Information For the year ending 31 December 2020

Officers and Trustees

Laura Haynes Interim Co-Chair (from 01/02/2021) - appointed 19/05/2020 Leanne Maund Interim Co-Chair (from 01/02/2021) Adam Crossley Chair (until 31/01/2021) - resigned 31/01/2021 Sara Hyde John Millidge Treasurer Lucinda Freeman - resigned 25/11/2020 Paul Gerrard - appointed 19/02/2020, resigned 25/11/2020 Kevin Hyland - appointed 19/052020 Alex Cole-Hamilton - appointed 15/02/2021 Toby Miller - appointed 15/02/2021 Mema Nackasha - appointed 15/02/2021 Mamoona Shah - appointed 15/02/2021 Company Secretary Graham Stanton - appointed 01/03/2021 Registered Company Number: 07886303 (England & Wales) Registered Charity Number: 1145176 Registered Address: 107-111 Fleet Street London EC4A 2AB Bankers: HSBC Bank Plc 281 Chiswick High Road Chiswick London, W4 4HJ Independent Examiner : Martin Bailey FCA Goodman Jones LLP 29-30 Fitzroy Square London, W1T 6LQ

2

Sophie Hayes Foundation Contents to the Financial Statements For the year ending 31 December 2020

Trustees’ Report Page 4
Independent examiner's report Page 15
Statement of Financial Activities Page 16
Balance Sheet Page 17
Notes to the financial statements: Page 19

3

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their annual report together with the financial statements of Sophie Hayes Foundation for the year ended 31 December 2020. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP).

THE FOUNDATION

Founded in 2011, Sophie Hayes Foundation was founded on the remarkable lived experience of Sophie, a British girl who was trafficked from the UK to Italy. Our work supports women survivors on one part of their journey towards sustainable freedom.

With the help of support through donations, we fund Employability Programmes for individual women. Our funding comes from Trusts and Foundations, individuals and corporations.

PURPOSE, VISION, VALUES

Purpose

A better future for every woman survivor of slavery leading to a better society for all.

Vision

A society that views and treats women survivors of slavery with respect and allows every freed woman to realise her potential, achieve her goals and a better future.

By putting the needs of each survivor at the centre of our activities, we will develop programmes that are relevant and help to remove the barriers to sustainable freedom.

We will be a valued, independent voice and an actor for change, working with the right partners to create the greatest impact.

Values

We are courageous:

Inspired by the courage and fearlessness of our survivors, we bravely challenge the status quo and we work tirelessly for change and a better future for our survivors. We look forward, show personal courage, and go beyond the status quo.

We act with integrity & respect :

Our relationships with survivors, partners and with each other are shaped by deep mutual respect, honesty, and confidentiality. We do the right thing by survivors, and always do what we say.

We are an open and inclusive community:

We think everyone has a valued voice and we work with others, (and with each other), to find the right solutions for the best interests of survivors. We work creatively, patiently and invite strong partnerships.

We respond well to change:

We don’t stand still, and we face challenges with agility and determination. We are a dynamic organisation that responds to the evolving demands of survivors. We believe that we can all develop and grow to achieve our full potential

4

Sophie Hayes Foundation

Trustees’ Report For the year ending 31 December 2020

OBJECTIVES

Sophie Hayes Foundation supports women survivors of modern slavery by providing programmes that lead to future employment, thus removing some of the barriers to sustainable freedom. These include coaching and mentoring, vocational work placements, internships, volunteer opportunities, training and formal education.

The objectives are met through:

Employability Programmes

Sophie Hayes Foundation relieves the charitable need of women who may have been a victim of human trafficking or other related forms of modern slavery. We provide Employability Programmes to remove barriers to freedom, including vocational work placements, internships, volunteer opportunities, training, and formal education.

Lockdowns and the national response to the Covid-19 pandemic impacted our ability to deliver Employability Programmes in the traditional face-to-face environment in 2020. Rather than cease operations, the charity redesigned and adapted the programmes for remote delivery. This greater use of technology allowed us to reach more, to support more, and achieve more, no matter where survivors live. The results of this programme change were so successful, the organisation has committed to offer remote capability alongside in person delivery postpandemic. We will turn lessons learned from the challenges of 2020 into a more secure and improved future.

Raising Awareness

We promote awareness of modern slavery, its causes, manifestations and adverse consequences with an aim to assist in the reduction and eradication of this dreadful crime in all of its manifestations.

Survivor support

We support survivors of modern slavery through our Employability Programmes. The programmes build confidence and employability, delivered remotely and in-person in safe houses and communities across London and the South, Birmingham and the West Midlands, and Manchester and the North.

We provide long-term, discrete, safe support and survivor assistance to anyone who seeks our help.

Research

We provide credible research on topics related to modern slavery and engage with academics and institutions specialising in human trafficking.

Awareness

We allow survivors to tell their story if they choose to, in any way they feel comfortable, as a platform to create awareness and instigate change globally .

5

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

Remarks from the Board of Trustees Interim Chair

As we look back on 2020, it is clear that despite being a year of great challenge with increasing numbers of survivors needing our support, the COVID pandemic affecting our ability to deliver programmes and much change in the organisation, it was also a period of great opportunity.

For some time, the executive grappled with the challenge of increasing our reach without a corresponding increase in overhead costs. We established new operations in Manchester in 2020, but nationwide lockdown meant that we had to find a way to continue to support our participants remotely and, necessity as the mother of invention stepped in. The CEO and her team were able to both design a remote programme that delivered coaching and workshops effectively while simultaneously raising the necessary funds to supply participants with tablets and internet connections. This was greeted as a “lifeline” for many of our participants and has contributed to our plans for future programme delivery.

2020 saw changes to the Board as the Chair recognised the need for further experience and expertise to help guide the organisation into a new phase of development. Three new Trustees were appointed early in the year: Kevin Hyland, former UK Commission of modern slavery, Paul Gerrard, a senior business executive and experienced NED, and myself, former Chair of UN Women UK and a senior business executive. Later in the year, longstanding Trustee Lucinda Freeman stepped down and Paul Gerrard also left the board due to other commitments.

Over the course of 2020 the Trustees dedicated much of their time to the immediate needs of the organisation including effective infrastructure, governance and oversight. This led to the establishment of two formal board committees: Governance and Nominations, and Risk and Finance, plus the establishment of advisory groups to support the Executive with fundraising, brand and reputation, and operations. These comprise both Trustees and subject matter experts to provide advice and support to the executive team as needed.

The Board continues to be committed to ensuring equality, diversity and inclusion within our organisation as well as protecting the wellbeing of our staff and volunteers and as such, 2020 saw greater levels of collaboration between the Board and the Executive Teams. Working with the Executive, the Trustees initiated a number of strategic sessions towards the end of the year to confirm our Purpose, Vision and Values and to help to define specific goals and objectives for the coming years. The work continued into early 2021 and, at the time of writing, we have a clear workplan for 2021-2023 with priorities for both the Board and the Executive Team. We welcome the revision to the Charity Governance Code Integrity and Equality, Diversity and Inclusion Principles. Our strategy in the coming years will be informed by the revised principles and will report on any steps that we are taking to align with the Code going forward.

The biggest change to the Board in 2020 was the resignation of the Chair, Adam Crossley, one of the charity’s founders. A huge part of the success of Sophie Hayes Foundation is as a result of Adam’s vision, passion and dedication over the last ten years. Recognising the need and the opportunity, Adam identified the potential to help women survivors of modern slavery achieve sustainable freedom. I would like to thank Adam on behalf of board members past and present, and the participants who have benefited from the programmes for his service to our Charity.

We all recognise that Adam’s shoes will be hard to fill and while we seek a new Chair to lead the organisation into the future, Leanne Maund and I have agreed to share the role as interim co-Chairs for a period of time to ensure a thorough recruitment process for the new Chair.

Co-Chair Leanne Maund and I would like to express our gratitude to our CEO and her team of staff and volunteers for their incredible work throughout 2020. Red's past experience in operating in circumstances of crisis really shone through in handling the charity's response to the pandemic and we are thankful that our organisation could continue to support survivors during this time. I would also like to thank our funders and donors for their confidence in our charity and their continuing support.

6

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

Interim Chairs Board of Trustees remarks (continued)

The work of Sophie Hayes Foundation would not be possible without partners and supporters and, in 2020, we benefited from continuing support from a number of key Grants and Foundations for which we are extremely grateful. In addition, we added new partners Hewlett Packard Enterprises who are supporting us with the development of cyber-security training and Liberty who have helped to promote our work with their staff and customers, and continue to support us with major campaigns through 2021.

As we enter a new phase in our development with new programmes, increased reach, new partners and an enhanced board, it feels like the work of Sophie Hayes Foundation is just beginning. We are encouraged by the commitment of our staff, volunteers, partners, funders and fellow Trustees and look forward to a bright and positive future.

Laura Haynes

7

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

Message from the Chief Executive

“ When we learn to become resilient, we learn how to embrace the beautifully broad spectrum of human experience.” Jaeda Dewalt.

As I write these words, I will have completed my third year in post at Sophie Hayes Foundation. It has been an incredible journey. A period of intense learning, growth, and far more successes than failures.

Happily, I can report that this momentum did not falter in 2020. Even as the pandemic’s impact was felt everywhere by everyone, Sophie Hayes Foundation rose to the challenge and went from strength to strength.

As lockdown caused our in-person survivor workshops and coaching to grind to a halt, the possibility of a year with zero delivery loomed. However, the adaptability of the staff to find practical solutions and the unflagging willingness of the survivors to welcome a new way of learning, turned the potential for disaster into resounding success and the gateway to approaching our programmes in new and innovative ways..

From the ground up, we created a 100% remote employability programme – a necessary tech solution that immediately became a lifeline for our survivors, and a format we shall continue once the pandemic becomes a memory. We also supplied tablets and data top-ups where they were needed, and we made hundreds of wellness calls to check-in with survivors. Above all, we were determined to answer all cries for help. Despite the pandemic , we supported 124 women through the Employability Programmes. An incredible result in unprecedented times across a shortened year for delivery.

Of course, 2020 was not just about overcoming practical issues. It was also a time of enlightenment. The problems of digital poverty became all too clear. Those without technical skills were abandoned when the world moved online. As global education and employment come to rely more heavily on remote learning and participation, lack of equipment and knowledge are creating a two-tier society, for all but especially for victims and survivors of modern slavery. A wall between those who can and those who cannot access and then navigate the internet. The enormous resilience and optimism shown by our women, despite limited access to digital resources, now powers our resolve to ensure no survivor is left behind in the technical race.

Lastly, any reflection of the past year would not be complete without giving thanks for the unwavering support of our new and existing funders and partners as they too grappled with the impact of the pandemic.

To our volunteers and board, the countless hours and expertise gifted, allowed myself and the staff the ability to focus on our primary objectives in support of our purpose.

A special recognition must also go to our small but mighty staff team, for their unwavering commitment to our purpose whilst dealing with their own personal covid challenges.

2020 was a year like no other. We are glad it is past. But we are grateful for the growth it brought to Sophie Hayes Foundation.

Red Godfrey-Sagoo

8

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

ACHIEVEMENTS AND PERFORMANCE

12 months, 52 weeks, 365 days, 8,760 hours, 525,600 minutes – at Sophie Hayes Foundation, the whole of 2020 was spent in the pursuit of our purpose. The enormous scale of Modern Slavery and Human Trafficking can be daunting. How does anyone combat an organised crime industry that affects more than forty-five million people across the globe and over 130,000 in the UK? Our answer is one day at a time, one life at a time.

The Sophie Hayes Foundation was launched by a British woman who was trafficked from the UK to Italy for the purposes of sexual exploitation. She managed to escape and move on to a better life. Most are not so lucky, and far too many of those who do escape are re-captured and trafficked again and again.

Sophie saw the desperate need for an organisation to guide those who do escape towards a life of freedom and true independence. A way to move forwards without fear of re-capture. Sophie Hayes Foundation was born our journey began. Every survivor success story is another step towards the defeat of modern slavery and human trafficking.

Throughout the year

Despite the pandemic Sophie Hayes Foundation gave support to 124 women survivors in 2020. Their stories were as varied as their nationalities, ethnicities, and religions, but their statistics made it clear – modern slavery knows no boundaries. It can affect anyone, anywhere.

January to March

March to April

9

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

May:

June:

July to August:

September:

October:

November:

December:

10

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

32 Countries 124 women all survivors

74 women from London & the South, 22 women from Manchester & the North and 28 women from the West Midlands, shared stories as varied as their nationalities, ethnicities, and religions, but their statistics made it clear – Modern Slavery knows no boundaries.

Albania Bangladesh Botswana Brazil Cameroon China
Congo Czech Republic Ethiopia Gambia Ghana India
Iran Jamaica Kenya Liberia Lithuania Mali
Mauritus Morocco Nigeria Other Pakistan Philippines
Senegal Sierra Leone Sri Lanka St. Lucia Syria Uganda
United Kingdom Zambia Zimbabwe

African, Asian, European, Caribbean, Middle-Eastern - the victims of Modern Slavery reflect the multi-cultural world. The largest group of survivors the organisation worked with in 2020 defined their ethnicity as Black or African. The second most common ethnic definition was White.

The suffering and miseries was spread across all forms of exploitation

Sexual exploitation of the victims of Modern Slavery is common. However, it is not the only reason people are enslaved. Victims also face domestic servitude, forced labour, forced begging, forced marriage and other brutalities. Often, these crimes are combined.

Domestc Servitude 47 Forced begging 3
Forced labour 14 Forced marriage 6
Organ harvestng 1 Sexual exploitaton 77

Human trafficking does not respect age

The youngest survivor in 2020 was 18 years old. The oldest was 67. The survivors who gave their age revealed vulnerabilities across the full adult life span:

Age 18-24 Age 25-34 Age 35-54 Age 55-67

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Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

All religious groups represented

Sophie Hayes Foundation survivors followed all religious faiths. The largest group identified as Christian/Catholic; the smallest was Rastafarian. The variety of religious beliefs debunks the myth that victims all follow one faith.

Christian

Muslim Hindu Sikh Rastafarian

Sophie Hayes Foundation Employability Programmes

The Employability Programme offered in-person and remote workshops, coaching sessions and placements into industry, education, and life enrichment experiences. Skills learned include:

The positive impact of these opportunities can be life changing. Survivors who felt lost and vulnerable to further abuse were given recognition and a new beginning. Where there once was uncertainty, there is now confidence and resilience. Sophie Hayes Foundation Employability Programme gives survivors more than independence. It gives them hope

The results speak for themselves

Programme participants recorded:

Employability Programme staff delivered:

12

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

Employability Programme participant comments:

94% of participants would recommend the programme to others

81% rated the programme highly

OUR REFERRAL PARTNERS

Sophie Hayes Foundation receives survivor referrals from a range of organisations across the UK. In 2020, we are proud to have worked with the following referral partners:

RECOGNITION OF OUR FUNDERS

Sophie Hayes Foundation receives donations from institutional and private donors. We cannot operate without their generosity. We thank them all for their support and we offer special recognition to the following funders for their support in a difficult pandemic year:

Additional, recognition must be made to the philanthropic giving by various family trusts, individual significant gifts and Liberty.

13

Sophie Hayes Foundation

Trustees’ Report

For the year ending 31 December 2020

FINANCIAL REVIEW

The charity generated income of £450,226 in the year, a significant increase against prior year (2019 – £136,335). Included within current year income is furlough grant support of £7,221 (2019 - £Nil).

Key to this uplift in income were increases in both corporate donors (both in number and value of gift) and the diversification and increase in the number of grant funders, corporate partnerships and individual giving and philanthropists.

The charity continues in its aim to fund its operations from a wider pool of grant funders and corporate partnerships.

With increases in incoming resources in the year the charity expanded its operations, despite the significant challenges faced as a result of the COVID-19 pandemic. Total charitable expenditure increased to £241,663 (2019 - £192,143).

As described in note 8, staff costs increased to £171,530 in the year (2019 - £124,832), predominantly as a result of an uplift in headcount and also increases in contracted hours.

However, with the charity moving to a remote programme for much of the year, efficiencies were gained with lower levels of programme costs (material and resources, delivery venue hires, participant travel etc) and a corresponding fall in travel and subsistence expenditure.

As a result, the charity reports a surplus for the year of £208,563 (2019 – a deficit of £55,808), and a net asset position at the balance sheet date of £219,337.

RESERVES POLICY

The Board are reviewing the reserves policy of the charity as part of its work on setting its 5 year strategy.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Sophie Hayes Foundation was incorporated on 19 December 2011 and is a private company limited by guarantee. The company is governed by the memorandum and articles of association under which the board of directors are appointed, and the management of the charity is set out.

Sophie Hayes Foundation is governed by a board of directors (Trustees). In selecting persons to be appointed, the Trustees consider the skills, experience and commitment of potential trustees and the contributions they can make to complement the existing board of trustees.

Each trustee is appointed for a period of 3 years, after which they must be reappointed by the board to a maximum of two terms.

In preparing this report, the trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Board of Trustees on 22 September 2021 and signed on their behalf by:

……………………………………..

Laura Haynes Interim Co-Chair

14

Independent Examiner’s Report to the Trustees of

Sophie Hayes Foundation For the year ending 31 December 2020

I report to the charity’s trustees on my examination of the accounts of Sophie Hayes Foundation (“the Charity”) for the year ended 31 December 2020.

Responsibilities and Basis of Report

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

……………………………………..

Martin Bailey FCA

Date: 23-09-21

Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ

15

Sophie Hayes Foundation Statement of Financial Activities For the year ending 31 December 2020

Notes
INCOME FROM
Donations
2
Grant income
3
Other income
4
Investment income
EXPENDITURE ON
Raising funds
5
Charitable activities
6
NET INCOME / (EXPENDITURE)
NET MOVEMENT IN FUNDS
Fund balances at 01/01/2020
Fund balances at 31/12/2020		 Unrestricted
Fund
£

107,660
-
7,221
44
114,925

9,243
57,254
66,497

48,428
48,428

4,493
52,921		 Restricted
Fund
£

8,141
327,160
-
-
335,301

-
175,166
175,166

160,135
160,135

6,281
166,416		 2020
Total
£

115,801
327,160
7,221
44
450,226

9,243
232,420
241,663

208,563
208,563

10,774
219,337		 2019
Total
£
15,607
119,728
1,000
-
136,335
9,895
182,248
192,143
(55,808)
(55,808)
66,582
10,774

16

Sophie Hayes Foundation (REGISTERED NUMBER: 07886303) Balance Sheet

At 31 December 2020

Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due
within one year
13
Net current assets
TOTAL ASSETS LESS
CURRENT LIABILITIES
FUNDS
Unrestricted funds
15
Restricted funds
15		 2020
£




11,970
218,358
230,328


16,383








 2020
£


5,392







213,945


219,337


52,921
166,416
219,337		 2019
£




7,126
40,114
47,240


39,507








 2019
£
3,041
7,733
10,774
4,493
6,281
10,774

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

Continued

17

Sophie Hayes Foundation (REGISTERED NUMBER: 07886303) Balance Sheet

At 31 December 2020

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved by the board of trustees on 22 September 2021 and were signed on its behalf by:

…………………………………………………. …………………………………………………. Laura Haynes John Millidge Interim Co-Chair Treasurer

Interim Co-Chair

The notes on pages 19 to 28 form part of these financial statements.

18

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

1. ACCOUNTING POLICIES

General information

Sophie Hayes Foundation is a company limited by guarantee, incorporated in England and Wales, and recognised as a charity with the Charity Commission in England and Wales. The charity’s objects are stated in the Trustees’ Report.

Basis for preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The charitable company is a public benefit entity under FRS102 and is registered as a charity in England and Wales.

The financial statements have been prepared in sterling, the functional currency of the charity, and monetary amounts in these financial statements have been rounded to the nearest £.

Company status

The company is a company limited by guarantee. In the event that the charitable company is wound up, the liability in respect of the guarantee is limited to £1 per member.

Income

Income is recognised in the Statement of Financial Activities once the charity has entitlement to the income, it is probable that the income will be receivable, any performance conditions attached to the item(s) of income have been met and the amount of income can be measured reliably. Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Resources expended

Expenditure is recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Expenditure includes VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Cost of raising funds comprise the costs associated with attracting voluntary income and costs of fundraising.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

19

Sophie Hayes Foundation 2020 Notes to the financial statements

For the year ending 31 December 2020

1. ACCOUNTING POLICIES (continued)

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds that are earmarked for a particular purpose by the Trustees.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in Note 15 to the financial statements.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following basis:

Gains and losses on disposal are determined by comparing the proceeds with the carrying amounts and are recognised in Statement of Financial Activities.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Basic financial instruments

The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Balance Sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Pension costs and other post-retirement benefits

The charity has arranged a defined contribution scheme for its employees. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

20

Sophie Hayes Foundation

2020 Notes to the financial statements For the year ending 31 December 2020

1. ACCOUNTING POLICIES (continued)

Going concern

The charity is reliant upon voluntary income, predominately in the form of donations and restricted grants, to fund its activities. After reviewing the plans for the charity for a period of at least twelve months from the date of approval of the financial statements, including expected income and anticipated expenditure, the trustees consider that there are no material uncertainties regarding going concern and therefore that the financial statements are appropriately prepared on the going concern basis.

2. DONATIONS AND LEGACIES

Individual donations
Corporate donations
3. GRANT INCOME
Grant income
4. OTHER INCOME
Other income		 Unrestricted
2020
£
190
107,470
107,660
Unrestricted
2020
£
-
Unrestricted
2020
£
7,221		 Restricted
2020
£
8,141
-
8,141
Restricted
2020
£
327,160
Restricted
2020
£
-		 2020
Total
£
8,331
107,470
115,801
2020
Total
£
327,160
2020
Total
£
7,221		 2019
Total
£
15,059
548
15,607
2019
Total
£
119,728
2019
Total
£
1,000

Other income represents furlough monies received during the year. During the prior financial year the charity was in receipt of donated consultancy services, valued at £1,000.

21

Sophie Hayes Foundation

2020 Notes to the financial statements For the year ending 31 December 2020

5. COST OF RAISING FUNDS

Unrestricted Restricted 2020 2019
2020 2020 Total Total
£ £ £ £
Raising funds 9,243 - 9,243 9,895
6. CHARITABLE ACTIVITIES
Staff costs (note 8)
Programme costs
Travel and subsistence
Consultancy costs
Rent and rates
Accountancy costs
Insurance
Other staff costs
Office costs
Subscriptions
Administrative costs
Share of support costs (note 7)		 Unrestricted
2020
£
28,553
564
657
2,738
2,964
413
287
6,951
9,032
546
1,029
53,734
3,520
57,254		 Restricted
2020
£
142,977
5,158
2,584
-
18,751
-
-
503
5,193
-
-
175,166
-
175,166		 2020
Total
£
171,530
5,722
3,241
2,738
21,715
413
287
7,454
14,225
546
1,029
228,900
3,520
232,420		 2019
Total
£
124,832
8,890
8,030
1,546
19,818
-
247
4,727
8,287
-
4,404
180,781
1,467
182,248

22

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

7. SUPPORT COSTS






Depreciation
Independent examination fees
8. STAFF COSTS






Wages and salaries
Social security costs
Pensions		 2020
Total
£
1,420
2,100
3,520
2020
Total
£
158,728
9,087
3,715
171,530		 2019
Total
£
1,467
-
1,467
2019
Total
£
118,503
2,824
3,505
124,832

The average monthly number of employees during the year was 5 (2019 - 4). There were no employees who received total employee benefits (excluding employer pension costs) of more than £60,000 in the year (2019 - none).

During the year, the charity incurred costs totalling £57,096 (2019: £40,864), including employer’s NIC and employer’s pension, in respect of key management personnel.

9. TRUSTEES

None of the trustees (or any persons connected with them) received any remuneration during the year. No trustees were reimbursed for expenses during the year (2019 - no trustees).

23

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

10. COMPARITVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES




INCOME FROM
Donations
Grant income
Other income
EXPENDITURE ON
Raising funds
Charitable activities
NET MOVEMENT IN FUNDS
Fund balances at 01/01/2019
Fund balances at 31/12/2019		 Unrestricted
2019
£
13,016
31,830
1,000
45,845
9,895
89,959
99,854
(54,009)
58,502
4,493		 Restricted
2019
£
2,592
87,898
-
90,490
-
92,289
92,289
(1,799)
8,080
6,281		 2019
Total
£
15,607
119,728
1,000
136,335
9,895
182,248
192,143
(55,808)
66,582
10,774

24

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

11. TANGIBLE FIXED ASSETS






Cost or valuation
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Carrying amount
At 1 January 2020
At 31 December 2020
12. DEBTORS






Trade debtors
Other debtors
Prepayments		 Computer
equipment
£
4,467
3,771
8,238
1,426
1,420
2,846
3,041
5,392
2020
Total
£
-
5,781
6,189
11,970		 Total
£
4,467
3,771
8,238
1,426
1,420
2,846
3,041
5,392
2019
Total
£
730
4,531
1,865
7,126

25

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

13. CREDITORS

13. CREDITORS






Trade creditors
Taxation and social security
Deferred income
Other creditors
Accruals		 2020
Total
£
7,097
4,057
-
2,843
2,386
16,383		 2019
Total
£
3,042
5,985
30,337
143
-
39,507

Deferred income as 31 December 2019 represents grant income received in advance of the charity having entitlement to these funds.

14. RETIREMENT BENEFIT SCHEMES

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to the Statement of Financial Activities in respect of defined contribution schemes was £3,715 (2019 - £3,505).

15. MOVEMENT IN FUNDS

15. MOVEMENT IN FUNDS
Unrestricted funds
General funds
Restricted funds
Employability Programme Fund
1000 Women Fund		 At
01/01/2020
£
4,493
3,689
2,592
10,774		 Incoming
resources
£
114,925
327,160
8,141
358,675		 Resources
expended
£
66,497
164,433
10,733
241,663		 At
31/12/2020
£
52,921
166,416
-
219,337

26

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

15. MOVEMENT IN FUNDS (CONTINUED)

The Employability Programme Fund

Up to the summer of 2019, the UK government's provision of support for survivors of human trafficking was 45 days. This insufficient time frame was successfully challenged in the UK courts, resulting in the government's reversal of 45 days to the new provision of support as needed with no cut-off target.

Before the challenge, Sophie Hayes Foundation restricted fund was called the Day 46 Programme fund, at which point it became the Employability Programme Fund.

The Employability Programme Fund is used to continue the charity’s comprehensive programme, comprising workshops, coaching, vocational placements, training, education and formal learning designed to support women survivors of human trafficking and modern day slavery, as they transition from emergency care through long term support and sustainable freedom. The Employability Programme Fund also includes the Survivor Network renamed as The CREW in 2021, which supports women survivors in a peer to peer environment for long term leadership development and socialisation.

The 1000 Women, 1000 Days, £1,000 per Woman Campaign Fund

Of the 130,000 people enslaved across the UK today 70% are women. 1000’s of women are in need of support to sustainable freedom through independence, and a life without fear. This devastating need has led to SHF’s first initiative “1000 Women 1000 Days ”.

Sophie Hayes Foundation’s goal over 1000 days is to support 400 women survivors in London and the South, 350 in Manchester and the North and 250 across Birmingham and the West Midlands. This ambitious plan will require hundreds of employability workshops, thousands of hours of coaching sessions, 1000’s of opportunities for work - volunteer placements and access to further education to empower each woman towards a future which is sustainable.

The core programme cost to successfully deliver 1000 Women in 1000 Days, equates to £1,000 per woman. Sophie Hayes Foundation is committed to raising the first £1,000,000 over 3 years, before transitioning to the next 1000 women and the 1000’s that will still need support thereafter. Until a time at which there are no victims and slavery has been eradicated, Sophie Hayes Foundation will continue to support each woman and raise awareness to this crime against humanity.

The 1000 Women 1000 Days campaign was launched in January of 2020 and due to the impact of pandemic it was suspended until September 2020.

27

Sophie Hayes Foundation 2020 Notes to the financial statements For the year ending 31 December 2020

16. COMPARATIVE MOVEMENT IN FUNDS

Unrestricted funds
General funds
Restricted funds
Employability Programme Fund
1000 Women Fund		 At
01/01/2019
£
58,502
8,080
-
66,582		 Incoming
resources
£
45,845
87,989
2,592
136,335		 Resources
expended
£
99,854
92,289
-
192,143		 At
31/12/2019
£
4,493
3,689
2,592
10,774

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS




Tangible assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due
within one year		 Unrestricted
funds
£
5,392
11,970
51,942
(16,383)
52,921		 Restricted
funds
£
-
-
166,416
-
166,416		 Total
£
5,392
11,970
218,358
(16,383)
219,337

18. RELATED PARTY TRANSACTIONS

During the year, donations were received from trustees, key management, and related parties totalling £156 (2019: £130). No restrictions or conditions were attached to any of these donations. There were no other related party transactions requiring disclosure in either the current or prior years.

28

2020 Notes to the financial statements

29

Registered company number:07886303 Registered charity number: 1145176