Chormy reg18trlOn number 11S4019 Company raglstratlon numb&r 08216279 {Enuland and TNalB8} REES FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
REES FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION TNitse¥ MrRCBert Mr P RobiTrson Mr8 C Roc ChY4rfty numbor 1154019 Colnpany number 08216279 Rggl$t•rnd offl Craftsman House Do Sall$ Dril Hamplon Lovell Ind. Esl. Droilwlth Wor(¥slershlro WR9 OQE Ind•p•nd•nt •MIar Orm8rod RutteT Umltsd The Oakjey Klikt8miinster R(Ad Droilwich Wor¢eslèrshirè 9AY
REES FOUNDATION CONTENTS Pagg Trustees, report lThlapènd8nl èxamin8fs reFK)rt Ststement of flnandal actiMlie8 10 Statsml ofrash flows 11 Noi*$ iothe fknandal stalements 12-23
REES FOUNDATION TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trusl¢g$ pre$enl th•ir raport and finandal stalements lor the y8¥ 8nded 31 December 2023. The trustees have adopted the provlsions of the Statement of Recommended Prd¢tice ISORP) 'Ac¢ounln9 and Reportln9 by Charlles, (FRS10211gffo¢Uve 1 Jgnuary 2Q19} In preparlng th& Annual Teport and financla5 Statements of the charily. Charftablg d>lecOvgs and othttt¢• The chartvs objects are for the public benefit, lo r858ve by Such mean$ as are ch8ritabl&, chlldron and adults who have had toster rare or resldentlal care experfence by the provislon of SL¢)port, advice, resourc88, a5S18tance Irinandaj gr otherwise), grdnls, programtN$ and olhai acfvM&s to: a} advance edu¢%lion', b) relieve unemployment-, c) promole the soo21 incluslon among Ih8se benefic4aries who are èxduded from sodety, or pats of SOaty, du& lo Ihelr sodal ore¢onomSc ¥x)Élllon', and dl dev8lop Ihgir capac4ty and s118 In such a way Ihat ihey bètter ablè to Idantlfy. and help meeL thelr needs lo P8rfrapAt8 more fvlty In soeAety. Rees Foundallon's provision of oppothnitles to care eyperienced 8dults with w) upper age Ilmll Is somgwhat unlquo as many organlsallon8 limit1he projecls and act1e5 to care expertenced people who are 25 and under. We will continue to growour rdalionships ¥th care p80tAe 3nd 8trèNJlhen our ¢prod[tell¥e approach lo lh8 d8vekpment and dellyory of support, aclmlles, 58Nces, and opportunitlgs Ihalwm enhan¢e the IIve8 of th08È Publ1¢ benefft The Tru¥te9s have COMp0d th Ihalrduly to havè duo ragard to th& guldaneg cffl pubThc benefit as F)ublkhed by the Charty Commissltrn and ¢ttnsider 811 the activities undertaken to fvrlher Inè tharfty's purposas to b6 of publlc benefrt. ar& ddighled to PrOde a range of deta15 across Ihe report lo illustrdle this CDrnrnitrnenl. Ourthank9 We aré thankfvl to all of Ih@ staff. Sltpporters and volunieers17ndudlng our amba8sador81 at Rees Found&on for Ihesr hard work and unwavering wmmitinent. The relend@55 efforts and p05ilive atttiude of the commuruty have beèn Instrumentrl In helping the Charity to achlesp kn goals continue to thrfvtr. Achlevem8nts and porf0MnCe This year the Chartty performed eXp1k)nallY well. ¥th considerable year on year increa8e8 both in lem of baneficlary engagement and finan¢lal InfX)m8. Wo are p8rVwlarfy deli9htsd to havg ralsod the profile of the Charfty through our engagemenls wlh care leaveTS, car8 eXperfered people. PTactltioner5, and Publ and privalB ¢Jrganisalions at n8tlonal level. Th¢re h8s been Jntinu9d trffort by Ihe Charity in marketing a range of our Iralning and commlsslonable servlceB. We continued lo inuease the charity's SibIlity through Bocial media and our wèbsftè which rethlv6d 64,T23 Vit9 durkw 2023 an Increa8è of 13,470 on the prevlous yeor. As w¢ll as UK roach. tho Charfty was honoured to b8 InvKed lo rneef wllh and shaTr our knowkdge Bnd 8yperti$e with offlclals frcffl Ihe Au#tralLqn and German Ln9 Care D¢partmonl$. Signfficanlty, th[8 year rnarked the 8groemenl of 8 naw fv&ya8r stratsgy for Ihe FouNlatlon ¥thich sets our ambttions to bulkl communKy'. support Plalce Improvemgnl.. provide safe hornes., and reach p¢rtential. Each of thèse four plIr$ contains a series of ¢041èvek)ped projects lor Implemantabon vAth all our athvttbes underpinned by rA)mmltrnenl to ng a care leaver-led organisation. The hieVements and rt079nce sèl OLrt balow compJementlh15 stra18gic wsion and holp $¢111 up for fulllre success.
REES FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2023 Rees FoundallDn retalns its pl8dg8 lo fhe Mindful Empltyer charter. an NHS Inlllathie Ihal supports omployers lake a positive approach towards Ment health at work. Ra6s FoundaUDn rnainta1n5 rts (x)mmltrnent lo the mental health and wellb&ng of our stsff, assgci81es, and stakeholder8 and almost all of our staff are Mental Health Flrsl Akl qualtfied. Four more staff members were trained in Levd 4 in Trauma lllforrned CBre h81ping to fulfill our aim lo become a trauma Infom)od organl$aUon. We were swAasshJl In rgnewing our CylJBr Es8enllal$ seC[[ty Cerllffcatlon whlch WM r$SUrB our boneffclarfo$. customèrs, 8nd Dther 31akeholders that Rees Foundadon are commltled to 98curfThJ thè Charty'$ IT syglems 8gain8t cybgr41th. New for 2023 was our inveslmenl to grow frjndralslng from ¢h*ltable soe& lo compl8rnenl ow &x18Ifi9 work wilh Income fiDm cvmtni¥sioned swv8. We registered with. and act in complionce with th8 Fundraislng Regulator. Vve empkjyed an iTrhou5e fundfais8r Imanaged by th8 Charily Chief Execulivel lo begin ¢0 build our ¢harlty fundralslng Infrgslru¢ture plus plwllne. Vwe dld not engage the seMce5 of any Ihird-party professional ndralslng agen(ae8 lo undertake dlrect response fundrais#ig. s0c[tatIon or cJJlUvalion, eithar by phons, online or fo¢&trface. Prlmary actIlIeS have been twst Bnd foundation 8pplic8tion8, WdndIng plu8 irreaSe in our coorate offerfng$. lo work towards continued financlal 3ustainablllty. No MplaInts kn r&gpeet of our fLmdral$lng advlty have been recelved and w8 contknue to en8ure Ihat the charfty's fvndral$ln9 gffort8 aTe carefully managed and targ8ted so aB to protect vulnerable p80F48. record donor detalls and preferen8 on our secure database whth complie5 GDPR standards, w8 8nsure w8 only contacl tham Ifthey opl In lo thls optlon. All 8UPPOrter8 hav8 the Option lo update their conlact preferences at any tlme.
REES FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Revlow of Operattonal AcUvltS&s Our Succoss In 2023: The demqnd for our seNlces Inuea5ed In 21r23, hIgh1hlIng the need for conllnupd support. 2023 saw our databas8 of ¢•p expeden¢ed people grow from 22BO to over 4623. We had 1665 gnqulrfes over the y8ar, acros8 922 diffwent Care eXpernced peopb. As well as Indiwdual support We mel wtth the Inforffl81ion Commi55K)n8rs Officers OCO} and a group of rxr8 oxporfe)Ked Individuals trj shgrg Ihalr p6rsonal experfences of the Subject AsS Requesl PTOC88S In tespeci of their care records. 1118 hoped that Ihg sh8rlng of thelr expèri8s wll Influence change In poHcy and pracuce for cara leavers In tha future. W8 also actlvfrly champloned Naltona Care Leavers Week as a recognlsod nattoNwklo annual event during October each y8ar. Thls yoar we were honoured lo presenl wmards and lo speak at Local Authoilty re leaveT events. The charfty's them8 th1$ y&ar was lo promot8 ralatlonships & COn¢ll0ns. and wa ran 4 cowpelltlon lèav•rs lo d8sign tha kgo forlhe event. Ove GTant4Nakln9 $UPPOrt Reas Foundatlon was pleased lo offer financkil as518tan¢e through an Educ9on•1 Gr8rrt mgking projeal lunded by th8 Welland Trust. Care expèr1end adults who are not egIble for sludenl finance may apply f(Y support Mth tuition lees and other as3ooal8d costs to swport thèir further educollon and trainkng. Addttonally we were pleased lo be able lo offer Sorne help forthose expertendng a finandal cD81610 ald the purchBse of groc8riè5 and ublity cost& In ih16 period. we received 212 apiCatIOnS grants- 129 01 Ihèsg were educAllonBI grBnts', wè wara able lo halp many th equlpmenL laptOP5 and iravel to ald Iheir studies and 20 re expwienced PgDP were supported wlh 18rger grants for support such as lurtlon fees for university. This meant that these care leavers were able to pursue the necessary Ii)w8rd& th8ir chDS8D cat8er goa15 ranging from PhamiBcy, Social rK cosellIng, Barrister. to gas engineerto ffilm making. In addillon, Twxived 902 rxisi5 fund appllcallons, 523 whh were supported ffinaal, bul All appllcants were offered emotional 5UPPOrt and thos& who m8y not hav• beèn 81igiblè for flnandal support r• $19npostsd to hodbanks, arfvocacy wlth PA. local weMaTe $Chne$ where 8ppropri8ts. Provlde Saf• Homes: 41ouslng wlth mentorlng SUPPOrt', We ¢onllnued lo prow¢Jg supported, 8ffordalAe hou8inu for 7 care experfer adult$ and 2 chlldran, wlth 2 addllonal chSldren lolnlng parents In the second haifof the year. During the year 2 lenarrts reach8d 1heir 2-yeai annlvevJary, one young family leached Ihelr ye8r an1v&rary and ona x 3 generath)na family reached Ihelr 2-year annlver8ary wllh another indlvldual being supporled for 10 monlhs arKI anolher ¥hI8ng A lull ya or stabllity In thdr home desyte fadng mulllple challènge5 along the way. Rh Potentlal: mployablllty. 87 ¢are18aver5 were suppor18d bither by an Employment Coath OT by altending the'uplify programme, as a result 12 were sUPPOrted dlrectly Into employment or sdf-8mploymenL Launched Ihe 'Future Me, you1locuSed services wlth grants trcffl Eveson Trust and JDhn Le4$ Foundatbn. Conlnued ¢]UT UplifL employabilty focused support programme 8UPPOrted by Gaolf HÈtrington Foundalbjn. Panel Tralnlng: we were paBed lo Iraln and prepare 37 ¢are expEentd people lor the pald rol& of P3nel membeT.
REES FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Bulldlng Communlty.. Workshop4 and Support Rees hosted 74 Lef5 Connect $ossl¢)ns that achieved 334 aftendances by care experfenid p80pA& who were 8UPPOrted In a range of way8 Including health, wellbeing, learning n8w skills and peer support. Th18 year welcomed 4 more cafès to our afflliated café prDj£Ct in Bromsgrove, Wolvarh8mpfon, Cardwf and West Bromwl¢h whlch brirvJs Jr portfolb to 9 inviting spare$ wherg care leavers wll b& w8knme to use their Café Guest cards. Expandgd and developoa'Co$l of LNinu' Support s•rvltt85 wrfh the genoUS support ol Gove¥nrn8nt and Corpordle funding. The Chanty 7 creallve arts prole(Is wlth 113 care axparlétK¢d people agIng in a rongo of face to face gr online adlv411as and compelOnS. Wg launched en oppurtunty foi care exp¢rfenced parents And grandparen15 to appty lo the Imaglnation Librory in order for thelr chitdr8n orgrandchlldren to rè¢elve a book every monlh In the p08L By year end 63 rhlldren were re¢elvlng the books. Supportlng Improved prnctleo thro9 loarnlng and dOlopment- Commlssfjonablg 8eTrvices Raes Foundalon delivered 29 IndIdual leaming and devolopmsnl sessionB lo a range ol Orgars91klns Sncludln9 prfsons, uniVerses, fost¢riig agenpAes qnd Local Authority Leavirg Caro T¢am¥ with over 230 practllloners In attend8no. The Chartty was commlsslongd by a rangp of to dellvor work8hops and host breakf88t dubs whore a lotsl of 143 care leover8 In custody wero SUPPQrted. D&vefoped and commenced marketing of DUT unlque Rees P6r8on81 Athrf8or Skills Support IPASSI Iralnlro programTlle. Th• Chaws guided swjport servKe for fAre ¢xp9Hen¢ed ppIe acce$$lng thtlr ffiles wa8 commigsloned by 4 LocalAuthorille8 for 5 IndIdUal8. The ChaiiV5 Ask Jan mengrship support packagè foi cJr8 leaveTr oJntlnu&s to be acyvety marketed natlunwide lo organ190Mon$ Including Local ALtthDrrfe3, Universrties, Prlson and Probation servlces and Dlhers. Al the and of the year 1072 car¥ baver5 were benefitung from the membership havlng been mmission8d by over40 orgonlsation8. We conllnu• ta develop this programmè t)ffering ftjrther rnethods of engagement Includlng VVh8lsapp, Facelxjok 8es5ions and a dlscounts web8ite with an Incr•Ased number of supplkn d18counis. Rkk Management The Charfty takeB a 8tr1¢l wew in the safeguardlng and wewara of Sts bgn$fi¢laries. This dsk h alievkot6d by annual reviwj and update ol organkallonal pollcth. Rlgorous reuullmenl and Veng pmcedures. BannUal staff Iralning nd maintalnlng saf6guarding 83 a agenda it&m in Btaff sup?rvi5ton. The Charity has clear tapotting procedures and undertakes risk a8$e56Ml$ in relation to Its operallon8. An kncidenl of firh8nci81 rtsk wh1n our grant procèsses underscorad the ¢rftlcal Irnportan of robust fraud d&tecUon and financial risk rn8nagem?nt rneEhanisms. Thè ch8rty was able to leam key1855ons from the Incldenl and subsequent m6asurg5 were irnplemgnted to $lrenglh8n our dgfgnca 8galnst Slmllarlhreats in the fijtur stvwardship of the tharltys resources lffnandal and slaffj lo onable to dglfver it8 mi85lcffi are revtewed gU8rterfy. wlth any sItuaN¢$ of concem fiagged to the Trustees wllhin 14 days. Rees Is commlttgd to addre88ing a1 19gmirYg from 1he axpèrlont%s ol our benefIc1arf and adively Invlles feedback and representation. An exarnple of our commltmenl to contlnuous h)provement includes changes and Improvements m8d$ to the appllcalton prttess for the Imagination Lrny project following feedback r9cei¥¢d. Whatwlll we do In 20247 The recent &xl8nsion of local authoritiès 'duty lo provlda PersonalAdvisor IPA} supporv lo all (gra lèaver8 UP to 26 wh8r8 reqvesled reffeci8 th$ apptIon of MTporate parenting prindples Idespme many care leavers optlng out of eontinued support). However. for thos¢ over 25, there is a la¢k of suppori, deste them beln9 Impacted by thelr expgdon¢o8 In the rar& system. R?es is committed lo exOring option5 to suslaln oyr Iltsng nefvmtk and m8kg a lasllng impact on those vtho conllnue lo navigate the d)alen9es assotiated with aglng out of the oaTe system. Wè look foM8td to tx)nllnulng to &xamine this issue a$ wt ofth& delivery ofourflve-year strategy.
REES FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEPABER 2023 Flnan¢lo1 revlèw Reg¥ Foundatipn incom6 for 2023 was £873.197, a reduclon of £179.182 117%) from 2022, wth th8 ChBrity receing a 8ubstanlTal grant from Ihe Welkgnd TruB¢ £225.OtQ19ss then had boon ap[led for. Grants from other sour5 were £119.356 more than in 2022. Fundlng sources included.. John Lews Foundation, National Lottery, Charfe8 Hayward, Evgson Trust. NalknBI Grfd. Aviwd Communlty and C*Dff HgrHngton. Corpordta and Indmdual donalons grew io £38,481 from £4,881 In 2022 wh5ch induded donatbns from 8arberry Group Ltd and Flne Fourteen. Total Incsxne relallTrJ fo involced ¥eNices sh 88 trnIng and m8mbor9hlps de¢lkned by 4fj% frorn the prou8 yoai lo £87.380. Chafitsble gIn9 In Ihg form of grants Inuea58d lo £106.955. from £86.$42 in Ihe prioTyear. Finanrial 8ssl$lanca for crfsls payThenls for groceries and dome61k eneTQy Costs was signific8nlly hl9her durlng 2023 by BO% to £35,889, wllh a total number of IndIdualS wjpported rfslng from 232 10 353, also a notable Incwse In averagg support wovkled, from £86 to £102 dug lo ollgoing cost of ts¥iig in(xeas•s. Tol81 ¢h¥itablo exp8ndMwe increased frorn £780,143 In 2022 to £851,837 in 2023, wlth slaff costs increaslng from £431,273 to £647,950. Ther8 was a n8t surplus for the ye8r of £21,56D an over811 re8uII that WBS 76% greater Ihan budgeL Thg POB budget variance was large attdbulabl8 lo IDwer-Ihan-expgctgd gen81al 8tnploym•nl costs and the zeale CDnlrfbution recèNed from grant provlders and corporate and i[5dldUal donations. The charty reserves slood at £392,029 al th8 8ThJ ofthg year. wmh a cash balance of £È164,827. Reserves poNcy The Trustees conslder that genal unrestrlcied funds shoukl be largetsd al a1gvÈI equal lo six months, es11 expendrfur8 lo ensurè that th& charfty has Suffldent reseNes to meet C08ts as they fall du8, Wh81 COnnu1Th9 to delNeT on Ihe Gharitable objectives. Su¢h fè$eNes as of 31 Dmber 2023 ex¢eeded this level, the Trustses are corrfklent thal sufficSent cash resources are available to continue to suslaln Ihtr Charftoblè aclivitl8s and w5thstand une>pectsd ovènls. The Tru5t8e8 will conllnue lo monllor the level ol reserves. Sivu¢luroi govarnan¢• and n¥n•gement Charity structu¥e Our slaff rosources havo wanded to acty)mmodat8 the grn number of enquiries, engagemènts and aclfvitles. Whatever the nature of the InMal enquiry,. 11 19 ossenllal that thè Charity afford ihe tlme, care and 8ttetJtion for OUT rare 8XP8ft8negd people lo develop INst and to know that Rees FoundatK)n realy care about what might be Ong on for them and wher8 wg can idantfy potentlal options lo help them. At year end. we employed 15 people compared to the prevbus year end when WB employed 13 peop on our st8ff tsam. We have rnaintanad our pool of sell-employed 1rdiner&[a1italarS, dWse group of care expertenced Independ8nl CSUtantS bring a whol8 range of valuable skills and knedge to Rees FoundalN)n and arg Instrumental in the devebpmenl and delivery of our tralning services. Th15 align5 with working toward5 ow aim of Improvlng 8pA)nomlc stalu8 of care èxpBri6n&gd Indlthduals and impmwng their CareeropportUtI0s. Govgming do¢wn#nt Th8 charilyls 9)verned by its Memorandurn and Artlt$ olAssc¢iatlon dated 1Yth September 2012, a8 arnended by sp8d81 r&$olutk)rs règlslerad 81 Compan1&5 House on 17th $8ptsmb8r 2013.
REES FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2023 TNstees The trustees, who are al Ihe dlreclors lor th6 purposè of(xJmp8ty law, and who s•rv8d durfng th& yaarwerg: Mr R C Bgrtle Ms J Re69 Mr l Frank Mr M Mikely Mr P Roblnson Mrs C Rod( 1ftegned 3108Gomber2023) (Resgned 19 July 20231 (R8sign8d 29 February 2024) Rècrultfnen( appoltthwnt and Trysignatlon of Trnstees The Tru8lees, who ara a159 directors under company law. aro appointed by ordlnary resolutlon or by Ihg Trustees of the tharfty.All TnJsle6s glva of th81r tlme ftsely none claNned remuDernon In the year. Tha foundar and Chair of the Charlty stepped down as frorn the 31st Dobr 2023. and two lonslanding Tw818es resigned from thè Chafty, one in July 2023, and another in February 2024. both expressed thr d&sl to remain supporteis ol the Chadty on an Inforynal basi5. Our thanks to all for thelr S8ce wlth partt¢ular recognttKJn of Jan Rees's tromendou$ rolo In the Charills initiation. growth and dgvek)pmenL Th6 n8w Ch8ir (R Bert1 and Vlc&Chalr IP RoL¥nwnl were appotnted In post In M8rd) 2W. The Board agreed 8 requirement lor the Charty lo recruit addrtional Trustees and a fecruitmenl campaign began In Septembèr 2023 th a dollb8rat• lrtus on expanding the diversty of thg Board. Including Increa81ng thè ropre8gntstTon ofpec wllh Ilv8d experience. Four new Tnjstees were oppc4nted tojoin thp chaiily in spriNJ 2024. OryanIsanaI Btructhre The Trustees are responBibb for managing Ihe charfty. Responsiwidas lor some funclons are defeyat8d lo kndlvlduals as Ih&y fft. The Trustees prode dractlon aNI d$¢i$lon maTrg to lh& Charmy Chlef Executlvè who is wJn$lblg forlhe daylo day running oftho tharfty. Inducdon and tralnlng of new tnmtsès New TNslee8 are prOded wth InfDrrnalion In Ihe fomi of a Tru8te&s' H8rKlbook Indudlno dèlai18 from the Chorlty Cornmlsslon explainlng thoir duties and SponsIbl11es a¥ Tru3lee8, the terms of their engagement as Tw$t¢e and detalls of tho tharfly'8 key prfnop16s And alm8 for ts wor Each Trustèè is also provided wllh a copy of Ihe rharivs Memorandum and Artlclos of Agsoclatlon and recommended resour and reading 118t to o93i3t their role and development,. these are alsc avalble from the
REES FOUNDATION TRUSTEES, REPORT IINCLUDING DIRECTORS, REPORT} (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statsment of Iruslè8s' responslbllitl&8 The trustees, who a also the dlrecloTS of Ree5 Foundallon for the purpose of rnpany law. are respon3llAe lor pr8paring tho Truslee8' Report and the financyal staloments In accordance with 8PtAitsblè law and Unlled Kjngdom Accounllng Standard8 (United Kingdom Generally Accept8d A[untinU PrdCtl¢6). Company Law requires the Iruslees to prepartr financt81 ststèments for èach flnanclal y¢ar whl¢h glve a true aNI falr ew of the state of affair5 of the charffy and of the inMIng re$Dur¢es and application ol resources, IndUd1 the Inrxsm& and expent111ure, ol th8 ch8rltsble company forthatyear. In preparfng Ihese ttnan¢L41 stat8m8nts. the truste6s are required to". - 8elecl 8ullable accounting poiiues and Ihen appty them ¢on3i3tenUy', - ob88rvt m6thod$ and prfndple8 th the CharNlg8 SORP.. - mak&judg•ment8 and e$tlm8t88 Ih8t ar8 raasonAblq gnd prudenl,. $18le whether appllcable UK AccountiTrJ Standards have been followed, subject to any material departureB dlsdosad and explalned In the ffnan¢kql gtstam8nts' ond prepare the ffinancia] statements on th& going conrn basls unless it 18 InappropTiate to presume that the charity wlll ¢ontinu• In opèrallon. The truslo85 are responSIe for keeping adequate accouTrllng records that disclose with rea50nat49 a¢rAJraty al any the flnanckl polllon of the charity and enable them to ensure that the financial statements Bornply wtth the Compani8s Act 20C6. They are also responsib18 for s8f8guardlng Ihg 3ssel¥ ol the charity and hance for taknng rea80nable st8ps foi Ihe prevenllon and deteGbon of fraud and other Iegularis. Th8trusleg8' raport was apprtsd by th& Board of Trustses. C Bertie Chalr ol the Board olTNstO98 Date. ...a..i../.i..la.o.
REES FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REES FOUNDATION I report to the tsu998 on.my examln8ll of the InanLYal staternents ol Raa$ Found8th)n Ilhe chaftty} IDI the year ended 31 December 2023. RPonSIbIlItIeS ba81¥ of report As the trustees of th8 charity {and also rts directots for he purpos8s ol company lawl you aro responsible for tha preparati¢ of the financAal stalem8nts In &Crdall with the uiremn18 of the Companies Act 2008 (the 2006Acti. Havlng Ballsfled my5eWlhal th6 fln8ndal 8tsfements of the tharity are not wulred lo be aklted undar Part 16 of the 2008 Act and arè ellglble for Independent examlnallort, I r8POrt In resped of my examlnallon of Ihe charitys finanrAal ststements eath8d out und8r 59Ctl¢)n 145 of the Charilks Act 2011 lthe 2011 Act). In carrylng out rny examinalv)n I ha followed all Ih8 appNcable Dlreouons gIn by th• Charlty Commlsslon under section 145151{b) tyf the 2011 Act. Indopondent examlnèf$ $tatsment Slnce Ihe charttls gross In¢omè exceedad £250,C0 your examlner musl be a member of 8 body li81ed in sectSon 145 of tho 2011 Act. I confimi that l am quallflad lo undertake the exarnlnalon be¢au8e l am a member of FCCA, whlth Is one of the Ilslod bodl&s. I hav8 compl8led rny examlnalion. I confimi that no m8tt8rg have wmo lo my attenllon in connecaion wllh the exarnknaliun Qing me cause lo bdlgve that in ary material re5pe¢t'. 8c¢ounling records were not kept In respect of Ilt8 charty as required by 8eclion 386 of lh8 2006 ACL. or th8 ffinan¢ial Statements do not th those Cords. or the ffinanclal statements do not comply th the accountlng requlrements of SectTr 396 of the 20tk8 Act other Ihan any requlrem¢nt Ihattho actyJunt8 9lve a true and falr th lChI8 nol a matter con8idered a8 part ol an Independent examinali¢Jn- or (he finanoal statémènts hsv8 not been prepared in accordanc8 With thè m6thod5 and prfnclpl8s of Ihe Slalemant of R8wnwnended Practice for accountiwJ and r8POrttng by rharilps appllcable lo thadlles- preparlng their aco)unls in accord8n¢È Mth th8 Financ4al Reporting StaTSdard w11ble in the UK and Repubtic of Ire19nd IFRS 102). I have no concems and havo como 8cfDS$ no other mattefs In connectlon wtth the examlnallon lo attention should b9 Ilrawn In ihls report in orderlo enable a propel und¢r¥tandlng of the IlnanrAal 3tal?ments lo b8 wthgd. Cc4m McGrory FCA oMr0d Rutter mIted The Oakley Kldderminslef Road Dro1ICh ¥NO$tersh1re WR9 9AY Oated.. .-2J..l.i.l..o.£'.
REES FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OECEAIBER 2023 Unr•8trtcl•d UTrrnstrlctod R•strlcted nds fund fund8 general deslgnated 2023 2023 Unrastslcted UnT•8trlrlgd fund# fvrtds g•n•rdl d•$lgn•tad 2022 2022 Totsl 2023 Totsl 2022 2023 Nolo8 Incomg from: Donations and legadg$ Charltsble 684,584 101,233 785,817 889,681 889.681 87,380 87.380 162,698 162,698 Total Income 771.964 101.233 873,197 1,052,379 1.052.379 Charitab actiwos 807,S03 44.134 851.637 780.143 780,143 Incomellexpendllur&> 135,5391 57,099 21.580 272.236 272,236 TraTr8feT8 etween ftbnds {5,0Tr) Net mov•m•nt In funds (30,539) (5,000) 57,099 21,S80 272,238 272,rJ6 Reoonclllatlon of fund8: Fund balances at 1 January 2023 365,489 5,000 370,489 93.233 5.000 9B,233 Fund balancos ot 31 December 2023 334,930 57.099 392.029 385,469 5,000 370.469 Al IncL¢me and 8xpendli ura dtirivo from oonl1nui aolMlle8.
REES FOUNDATION BALANCE SHEEr AS AT 31 DECEMBER 2023 2023 2022 NotsB Flx•d a$$ets Intanglbla assets Tanglbltr as58ts 11 12 881 10,717 2,369 12.037 11.598 14,406 Current asgets Debtors C88h al barbk and In hand 13 18,011 464.627 12,854 411,510 480,638 424,364 Cr8ditOf8: amounts fallSny duo vAthl one yoar 14 1100,207) {66,301) Net current assèts 380,431 356,063 Total assets logs curraDt11obHItIo 392.029 370.469 lTheomty fund Restrlctèd furKIs nr&slrici8d Designated funds General unrestriclad funds 16 57,099 17 5.000 .469 334,930 334,930 370.469 392,29 370.469 The company Is entftled lo the exempfion from th• aud roqulrgmenl contained in sectlon 477 of thè Compgni88Act 2008, lor the year end&J 31 Dac8Trlxr2D2& The dlrectors 8d(nowledge Ihelr responslblllli$s for comptying wilh the iequlromonls of th& Compani•s Ad 2006 r8specl to accountin9 record$ and the preparation offfinanckl statsmnts. mgmbor8 have not required thtr Cornpany to obtain an audll of Its finandal $latsmpnis for the year in questlon in aKordance with saction 476. Thes8 finanrAal statement$ havo been prepared a(xordan¢e tho pro810n8 applicable to c4Mnpanie$ subloci to the small comp3n*s wkne. C Btrti Trustse Company Rggtstratlon No. 08216279 10-
REES FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from 0ratIng acllvltt09 Cash g8nerated from op8rations 23 56,801 268.911 Tmvè$dng 8¢tlvllle$ Purchasts of tan9lNe ftied a88018 <3,684> 17.08n Mgt ¢a¥h used In Inv•8llng 8¢tlvW 13.6841 (7,08n Plot cash used In flnanclng actrttles Not IncTe45• In ca$h and ¢aBh equlvalents 53.117 281.824 Cash and cash equlvabn16 al b¢gh)nkng of yggr 411.510 149.686 Co8h and cash ul¥alents atand of yfrar 484.627 411.610 11
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng pollde8 Ch8rlty Infomjatlon Rees Foundalk)n 1$ a prfvale ccqnpany Ilmtsd by guarattge in¢oTporated In England and Wales. The regist8Trd office Is Craftsman Hwse, De Salls Drlvo, H3mpton Lovett Ind. Est., DroM¢h, Vworcestershlre. WR9 OQE. 1.1 A¢¢ouhtlng eonventlon The fin8nclal statements havo boen prepared in accordaw with Ihe tharitys Iwsl dè8d, th8 CornpanlesAG 2006 and "Accounbng and Reportlng by CharM8s'. Statement of Re¢x)mmended Practice appllc8ble lo Charities praparing their accounts in accordance wlth the FMancial Reportlng Stsndard applKable in the UK and Republlc of Iraland (FRS 1021 lefIec12 1 January 2019)" The ¢harty Is a Public Benefit Entity 83 defined by FRS 102. The ffnanclal statom8llls are prepared In stèrling. whlch Is the functlon81 cuwency of the charity. Monetary amounts In these financial stslemgnts are rounded to Ihg nearest £. 1.2 Golng concem At thè time of approvlng the )Inanclal slatemonl$, the trustee5 havg a reasonable exFeclation that charrty has adequate rgsources to conllnue In ¢)p8rallonal exLstenc£ for the f¢Te6eeabla future and th8t thÈr8 a no materfal uncertalntles about the charrvs abllty to eontynue as a goSng concam nor any $5gnffl¢an( areas of urThrtalnty that aff•¢t the carrytng vau6 Ola9 held by the charfty. 1.3 ChJrttabla fvnd8 Unfeslrictad fund5 are avallable for UG8 at the ¢J8crellon of lh& Intstses kn fvrthèTance of thdr thgrhalA8 oblecllvès. Deslgnaled funds comprfse fund3 8el a8ide out of unresmcted incune by Ihe trusl88s for thè furtherance of particular aspects of the charit6 objects. Tho trustees may. at Iheif disuellon. realloL3te these fijnds ba¢k lo general fiAnd. Restricted fund$ only be used for partigjlar restdctèd purposes wtthln the oblect8 of thg charity. Rèstrictions anse whan sperAffed by the donor or when frjnds are ratsed for p8tliGular re81rlcted purpos&s. IA Incon Income is r•cognl$ed when the chaftty 1$ Ikgalty enthd to itafter 8ny perfomm conditions have b¢en rnet, tho amount8 can be m&asured lIab[Y, St18 probabla thBt Incorne wlll be r8CaiY. Cash donatlons are rwni8ed on recdpt. 0th8r donations are rgnISed once thg rhafily has boon nolfled of the dDnation, unless perfr$m1an condOn6 reoulre def8rral of the amount. Income tsx Igcoverable In rolatlon lo donations recefved under GiftAkl or deeds of covenanl is rocognlwd at Ihg lime of the donallon. Legades are re¢opnlJed on Tlpt or otheNlse If the charity has been n0fird of an irnpendng dlslrfbutDn, the amount is known. and tpcwpl Is expected. If th8 amount 55 nol known. th8 legacy Lg Ireal8d as contingent asset. 1.6 Expendltsro alItIeS arg rewgnvaed as 8xpenditur8 as Boon as there Is è 81 or construclve obllgation commitng lh8 charily lo that expendlluro. M Is probable that a transfgr of ecorKJmic baneffls wlll be requlred in settlement and the amount of Ihe dlgatIOn can be measured reliably. Exp8llditure is accounted for on an accruals basls and has been classllled under h8adings that aggrègata 81 cost related to th6 e8t8gory. Were COSts cannot bè dlfeclty almbutod lo part¢e¢Aar hea(ling$ they have boon lo activities on a ba* conststsTht with the use of Tesourc8s. 12-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR fHE YEAR ENDED 31 DECEMBER 2023 A¢countlng pollcles Icontlnuedl Grants offgrgd subl8d to condrfk)ns whlch ho not been mel al y¢ar eThJ dat• ar¥ noted a$ a commltmenl bul not acc•Jed a3 exp8rtllu. 1.6 Intsngiblg fixed a886ts other than goodwlll Intangible assets acqulred separately from a bu51nes$ aTr recognlsed at o)sl and are BubBequenlty Tnea6wed al cosl1o59 gwumulaled amorusdon and accumulalad Impaimi8nt los$gs. Amortlgalim k8 rgcognl$od $0 a8towrlte off th& 91 or valualion of a58ets1888 Ih¥lr re8klu81 val8 ?rtheIr U8efvl lives on the followlng bases: &)ftware 25% 8lravJhl line 1.7 Tanglble flxed assets Tanglble fixed assets are Intualty mea6ured al cost ar•J subsequenly measured al $1 OT valuatloTr, net of depreclatlon and 8ny knpamwnt Ioss6S. Doprg¢lallon 1$ r9rA)gniséd so a510 off Ihg o)st orvaluatlon of a$8ets1gs$ thdr rgsldual vdu85 ov9rUIr useful lfve8 on the following bases.. Offi¢e •qulpmenl 2VA 8lrabJht Mne The galn or loBs arising on the disposal of an as8et 18 delemined as the dfftren btheen the 80le proceeds and the Cry)g value of th& assè( and Is reD)gnlsed kn Ihe statement ol financial Bdvlues, 1.8 Impaimwnt offixed assets Al eath T&pong end dale, the charily revi8ws th8 carrylng amounts of tanble and lntang1b assets to d6t&milna whether there is 8ny Indfc8tion IhAt Iho8è assats have 8ufferèd an Imp8lrment loss. If any sh indicallon e816, the recoverable amount of the asset is estimated In order to determjne the exlenl of the impBlmient loss IW any). lj Flnanclal IngtruM8nts The charttalA& company financlal 88set8 and fin8ndal li81[tIeS of 8 klnd that qtMIIfy as Iiask flnanclal Instruments. Basic fillancA inBINments are Inilially TeccvJnised at transaction u8 and subsequenuy measured at Ihelr sattlemanl value. 1.10 Thxatton Th8 charity is 8x8rnpt frcffi (WaOn tax on tts ohanlable actitIes. 1.11 Retlrgmènt bonefFts The ¢hwilatAa ¢ompany 0rateS a d8fined conlrTr)uUon penslon schornè. Conlrfbuknons pay8blg to the c*artable eompanV$ pension stheme are charged to the Slatemenl of Flnancial Activtties in the period to whlth they relate. 13-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Crftlcal 4¢¢ounthig *$tlmate6 and ludgenwnts In the 2ppllcation.of thetharity.s aocounting'polides. the tr.uslee5 are required ID make judgements. estimates d 85SUrnPtions about the cwrying amounl of as501s and abIlIt&s5 1hat ale not ieadity apparent frotn other BOUT¢88. The eslinates and 8&80claled 855umplions are bg8ed on hi3torical experience and other factors that aro Gonsid8red lo be relgvanl.Aclual Tesulls may differ from Ihos6 8sllmato$. The e911m8t&8 and underlylng a88umplion3 are reviewed Dn an ongolng ba¥l3. Revl3lon5 to accountln9 estlTHale8 are recognl8ed In the perlod In whlch tha estlmale k8 rev18¥d whwe the revlsk)n affeots only Ihat period, or in the pwiod ot tho and fulure pgfiods where the revisloTr aff8cts both cwrenl and futur• PO08. Incom8 from donaUon$ and1ogacl•s Unrn$trlctod Ro8lrlelod lunds fund¥ 2023 2023 Tofal UnM¥trTrt•d Re8trlcted fund8 nd¥ 2022 2Q22 Total 2023 2Q22 Donatlons and g Grants r8eelvablo 36,461 648,123 3S,461 749,356 4,881 885,000 4.681 885,ODO 101,233 e84,584 101.233 785,817 889,681 889,881 Oonatlon$ and gl Corporate donations Indmdual donations other 22,998 13,395 68 22,998 13,395 3235 3.235 38.461 38,481 4,eBI 4,881 Grnnts mfvabl¥ foi oore activitles The We118nd Tw5t 630.000 Other 18,123 630.000 119,356 885,000 885,000 101,233 648,123 101.233 749,356 885.000 885,000 -14-
REES FOUNDATION NOTES TO THE FINANCIAL STATEPJiENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2023 Income from charftabl• aCtfvI•8 UnYgGtrktod Unr8strKled fund• funds gonoral g8n8ral 2023 2022 'Ask Jan, member8hlp Inco otherinEorne 84,970 22,410 65.S71 97.127 B7,380 182,898 Expgndllure on charftablg athlll&8 2023 2022 Dtrect costs Staff C15 Care oxperien¢ed ambas8adcrB Pan81 work costs Vc4unteer axp6ns89 Crowd lundlng paymants Ftnandal svpport Direct staff '. Travet & 8ubslst¢ncp Atts Prolsct W8llbalng se88 St5 'Ask Jan, mambotship Costs 547,950 6,181 12.725 20D 27 35.889 14,281 86 11.107 11.677 431.273 12,552 31,723 97 19,895 10.954 35.111 10,148 640.103 551,819 Grant fundlng of ad¥lllos188è nola 8) 108,955 Sharo of8UPPOrt and govqmanco Costs Iseg nots 71 Support Goveman ICQ,704 3,875 156.332 651.637 780.143 Anatygb by fund UnrestrLted funds R85trlct&d ftjnds B07,S03 44.134 780,143 851,637 780,143 15-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 pAy8bl• 2023 2022 Grants lo Indlvidua 106.955 66,542 Support Costs ..Suppgrt.Go¥•mance osts 2023 2022 Ba8l8.ofallotI0n staff c08ts Doprgdauon and amort188Ion Ront, rales and utllthes Indlrort 8laff: Admln and 8undry expen898 Staff tralnlng and gvents Advertislng and rn8rkellng Book5 and pU1¢aOn8 In$uTrnce Bank L*arges Managffi)enl rarge Legal and profes81ona Account¥n¢y thargos Audllors, remuneralon 605 6,491 15.144 605 8.491 15.144 840 Allocated on me 5.298 Use of assets 15.144 Us8 of prem18es 38,279 5,594 8,185 4,Cfj1 4.947 38.279 5.594 8,185 4.061 4.947 35.885 Esllmated USBge 12,770 Personnel roles 4.368 Nature ol cost 1,515 VsBge of material 4.026 Usage ofprernises 3.473 Pro-rala lo aclivity 51.000 Allocatsd on time 22,033 Governan¢e Governanc& 5,450 Govemancè 15.393 16,393 3,875 3,B75 100,704 3,875 104.S79 161.782 Analysed b8twe8n Charitabje ac115 100,704 3.875 104.579 161,782 Th8 IndeFendenl.Examiners feelorthg"yeE4r.wa5.£3e75.12922.'£Nir). TheAudrtcrf feè the yearwds £Nil12022.. £5,450). 18-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tru$tses None of the INstee8 lor any per80ns wTrnec*ed with them) recewed any remunerAlion for the year (2022.. £N1. 3 trustees w8r8 relmbur8ed expenses durtsjg the yew totslling £752 {2022: £826) rgtalkng ta Iravgl (¥ts gnd sundry other costs. Rees FoLmdallon was r8lmbursed exFondlluTe Incurred durfng the year on t¢haN of tru8te68 of £NII (2022.. £1.7371- As at 31 Decerntr 2022, Ihgre a bance of£Nil owed lo Ree& Foundatk)n12022'. £341}. There werè no othartransadons wllh trustass (bjrfng the currant Dr prfor ytar. Employees Numb9r of employee The overage monthly numbèr ofempbyees durfng Ihe y¢arwas.' 2023 Numbèr 2022 Numbor 15 12 Employm8nt costs 2023 2022 Wagg$ and $8laries Soclal securtty costs POnsn r¥)sts Other stafl costs Inon-payrou) 477,269 49,934 20,747 605 387,546 42,111 21,618 S48.555 432,113 Thg tharitable cP8Y operates a deffined ¢tsntritsuUon pen0 stheme for all quallfyirvJ employees. The a$8ets ofthe scheme are hgld separately from those otthe charlty In an Indgpgndontty 8(knlnl81gr8d fi)nd. Th8 charge to profft or k)s8 in respect of the defingd nIribution xheme was £20.747 (2022.. 21,6181. Thè number of emF4oye&8 whose annual tsmun8ration {8xdudlng emF4oyer pen8ion costs and 8mployets nattonal Insurance costsl was £60,000 or rnOTewere.' 2023 Number Z022 NumbBr £60,00110 £70,000 £70,Th)1 to £80,000 10 T8xatlon The Is exempt from laxallon on its aclivitie3 becau88 al Is income i8 applied for charitabl8 pwpDs8s. 17-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Intanglble flxod a88•t8 Softwa At 1 January 2023 and 31 Docembar 2023 s.5 Amortl$atlon and ImpaSrniont Ai 1 January 2023 Amortisalion th8rged for lh8 ye* At 31 Dec4mber2023 5,084 Carryinu anTount At 31 December2023 881 Al 31 Oecember 2022 2,389 12 Tanglble fixed $91$ Offic• Al 1 January 2023 Additions Dispo8alB 19,1B4 3,084 (2,9081 At 31 December 2023 19,960 Doprectsllon and Impalmiont Al 1 January 2023 Depreclalion ¢harg&d h the year Eliminated In spect of dJ3posal8 7,148 5,1)03 12,9081 At 31 Docambw2023 9,243 Corrylng amount Al 31 Decèmber 2023 10.717 At 31 December2022 12,037 13 D•bt0rs 2023 2022 Amounts falllng du8 wlthln on• year: Trade d#btors Other debtors PraYMentS and aGcrued in¢om& 7.413 1200 7,39B 598 1.610 10,646 16,011 12,854 18-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED> FOR THE YEAR ENDED 31 DECEhlBER 2023 14 Crnditor8.' amounts falling du•withln ygar 2023 2022 Olhertaxafjon and sodal ¥e¢urlty Trade creditor8 other credito Acivuals and deferred income 14,013 12,585 23,187 4.910 27.619 4.724 34.566 100,207 6B.301 Indu¢Jed tn rOIS gnd defaThad kncome 1$ doferred Incomg of £30,697 (2022.. £21,294). Th16 (x)mprt8e¥ Income recefved in Felalion lo firture year5 frorn members whts have subsbed to 'Ask Jan, memberships. The80 are varfable In length from 175 days to 12 rnonths. BaJath as at l January 2022 Arnounl releas&d to Income (Ask Jan membershlp6) Amount released to income (Trainlng and olh8r Income) Arno1 deferred in year 21,294 164,970) (22,410) 96,783 BaLqnc• as at 31 Dgcpmber 2022 30.897 16 ReBtrlcted funds The restrict8d funds of the compri58 tho 0pended b*nce$ of donation5 and grants hehj on trust 8ubJ8ctlo sp8cThlG conditions by donoTS as lo how they may be used. At 1 January 2023 Incomlng Resources resourc oxpènded At31 D¢¢ember 2023 National Lottery Gommunty Org John Lewis FoundaUon- Fulura Me Eve50n Trust 41,543 39,690 20,000 (40,867) 11,r221 11.5451 37,968 18,455 101,233 144,1341 57.099 19-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Rostrktsd funds {Contlnuedl Natlonal Lottery Communlty Org Co8t of LlvlDg Fund- LgV8 cOnnt Funds to prowd8 SUPPOrt to eommunty organ1sattons with tackling the dernands of the lTh¢roasè In th¢ ¢o$l of lIn9. John Lowl8 FOdatIOn IJLFI- Futur8 ffia Restrlcted grant wi that an impact evaluation report é8 requlred vAlh dear monftorfng of &xp8ndlture. To undertako a¢lfvttles thal 8ncourag& and support youths lThlo employmenl. Eveson Trust. Lotg Conn&ct Youth Pmlect Fundlng for proleots & actlvitbs d08Ignod lo allèvlate Inctd8nca$ of lotwllness. Isc4allon and mental heath issues, by lacllllaling events and confacl nelworks that a150 nurture friendsh) group$. 17 D•slgn4ted fitnds The income funds of the charity ir¢dud6 the folk)wlng designated fvnds whkh h8¥e been s818gklè out of unrègtrlcled fd5 by th& trust8&s for spadfK purposes.. Movomgnt In thnd• Intomlng rn8ourc•81 January 2Q2J Bal&n¢o at PXomb•r 2023 q JAnu8ry 2022 Mr R C BertKe fund 5,000 15,000) 6.000 IS,OOD)
REES FOUNDATION NOTES TO THE FINANCIALSTATEIIEMtS ICONTINUEOI FOR THE YEAREIIDED 31 DECEMBER2023 fund• d¢ Fund 10,71T 323.332 I2.7 12K07 AU•W(I*IIkn) 51.05 280.431 5T. ?92.02P 87QA -21-
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 19 Relatert party transactlons Rfjmuneratlon of key managgmant p•rsonno1 Th¢ kgy manag8menl personnel aro represgnled by the roles wlthln managemènt and ftnanc8. The total employee benefits Uncludlnu $mployer pen8lon o)nlrfbution81 recefved by key managamenl personnel was as follow8: 2023 2022 Aggregat8 0)mpensalon 231,372 134.938 Tran&a¢llons wlth related partlos Durlng the year, the charftabla company had Ihe lollowlng Iran5actlon8 th related partte8 through Ms J ReeB, a truslee ol the tharity, al belng a dlre¢f¢r of these companies... Thp Wolland TN8t Donalkm8 gn to the thaty by Th8 Welland Tr( amountad lo £630,00012022'. £885,000). Costs tsch8rged by The Welland TNSI amounted to £12,00012022'. £63276). As al 31 December2023, th9re arg no balancp8 owad ty or lo The Weltand Trust (2022: £NIII. W•lland Rosldentlal Holdlngs Llmlt•d Expendlture incuryad on behaifof welnd Residenual Holdlngs Umll8d amountadto £NH (2022.. £tfj41. As al 31 Dècamber 2023, Ihwe is a balanrA of £Nil owed by Welland Resldthkl Holdings Umllod {21)22'. £79). Rolug•o Host Support Llrnltsd C0516 r8tharged to R&fugoe Host Support Llmlted amounted to E17,85812022'. £24,634), As al 31 D8camb8r2023, Ihar8 gr8 no bal38$ owed by or to Refjjgee Host Support Lknited12022.' £Nif). 20 Umltod company Thè thanly is a Ilmited cr>mpany bjt has lak•n adv8ntagg of Iho exemption availabb to dlspen8e wrlh th8 word limlled, aftar Ils nama. 21 hlombors. Ilablllty The liabilrty of each memb8p Is nmitètt to 8 sum not &x¢xeding £10, belnu tha amount that aach rnember undertakes lo Ixinlribute lo the assets of the charity in the event of it being bvound up while hè. or il is rn•mber, or thin one yearaft*r hg. she or il c9859s lo b8 a member, foi.. P8yThentof the charitys debts and liabilities incuThed before he, she or ft ¢ea$es to bg a mèmber., payrn8ntof Ihe oo$ls. charges and expenses on wlndlng up; aTra adjust Iho rlghts of the contiibulories amongst Ihemselvas.
REES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 22 Sharo Mpltal Th8 ch8rily1s a charltable ccfflpany lknlied by guarantee, and as suoh does not havo Share capkal. 23 Cash gen8rat•d from pperallons 2023 2022 Surplus for th& y8ar 21.560 272236 Adjustments lor. Amorusatlon anEI iThpaiThnent of intangible assets DeprecAafjon and Impglm9nt of*a1b fed assets 1.488 S.003 1,488 3,810 Movements In worf(Ing capltal: {Increaseyd8crease in debtors Increasel(de(xease} in creditors In¢reasel(dettea8e} In deferred uicome 13.1561 22,503 9.403 4046 133.0461 116,1231 Cash gen•ratèd from operailon 56,BOI 268,911 24 Analygts of ¢hBnge¥ In netfvnds The tharlty had no material debt during theyear.