REGISTERED COMPANY NUMBER: 08511224 (England and Wales) REGISTERED CHARITY NUMBER: 1155597 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 FOR WORK-WISE FOUNDATION (A COMPANY LIMITED BY GUARANTEE) Gibson Booth Limited 12 Victoria Road Barnsley South Yorkshire S70 2BB
WORK-WISE FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 202S Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report 10 to 11 Statement of Financial Activlties 12 Balance Sheet 13 to 14 Notes to the Financlal Statements 15 to 26 Detailed Statement of Financial Activities 27 to 28
WORK-WISE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 APRIL 2025 TRUSTEES M Cooper C P Hudson MBE D J O'Hara J Ray (appointed 1.5.25} REGISTERED OFFICE 137 Carlisle Street Sheffield S47U REGISTERED COMPANY NUMBER 08511224 {England and Wales) REGISTERED CHARITY NUMBER 1155597 INDEPENDENT EXAMINER Gibson Booth Limited 12 Victoria Road Barnsley South Yorkshire S70 2BB BANKERS Santander 2 Triton Square Regent's Place London NWI 3AN Page I
WORK-WISE FOUNDATION (REGISTERED NUMBER: 085112241 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 The Trustees present their annual report together with the financial statements of the company for the year l May 2024 to 30 April 2025. The annual report serves the purposes of both Trustees, Report and Directors, report under company law. 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) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland. The past year has seen a growth in activity and expansion of the team with a joint part time CEO and Marketing Manager. This has helped meet demand for our services and take on delivery of additional activities, most notably The Sector Routeways into Manufacturing and Warehousing programme. Key events continued to perform strongly with growth in both Get up to Speed with STEM (which celebrated its 15th anniversary and expanded to 2 days) and North Star Science School. The Work-wise Foundation continues to respond and offer increased new opportunities, for young people, the unemployed and those employers who are looking to fill skills gaps. Recruitment and finding a pipeline of job ready young people continues to be a major challenge for employers, not just in science, technology, engineering and manufacturing sectors but increasingly in many other sectors too. We have continued to deliver well established activities and events including the above and our Summer Employability Academy and Vulcan Education Programmes. Our reach has been extended with some activities beyond South Yorkshire. We have also been able to offer more and new opportunities through initiatives such as STEMM-Wise and Build it Green. We have continued in our key collaboration with Gullivers Valley Theme Park and the developrnent of Skills street CIC and have now moved our operational office to Skills Street which is due to open its doors to visitors from May 2025. Offering new opportLJnities for collaboration and programme development and a real opportunity to grow and strengthen. We are committed to staff development and are pleased that our Sales and Marketing Trainee has now successfully completed her Level 3 Apprenticeship on Digital Marketing, passing with distinction. As always, we are very grateful to our funders, volunteers and employers, without whose resources, skills, experience and enthusiasm we wouldn't be able to provide the sUPPOrt and impact that is so greatly needed. We continued to be proud of what we achieve year on year as a small organisation and look forward to continuing to build on the support we are able to offer to young people and those seeking employment from all backgrounds and communities, those who educate and support them and the business community who benefit from a better informed, more confident and better prepared future workforce. Page 2
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 OBJEcfivES AND AcfiviTIES Objectlves The Work-wise Foundation is an 'employer inspired and led,, practical educational initiative with the purpose of supporting the development of young people and others in the Sheffield City Region and surrounding areas so they have the knowledge, skills, aptitude and opportunities to make a successful transition from education to adult and working life. The objects of the Charity are to act as a resource for young people up to the age of 25, and vulnerable adults up to the age of 30, living in the Sheffield City Region and the surrounding area, by providing advice and assistance and organising programmes for education, training and other activities as a means of: o Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. - Advancing education. Relieving unemployment. Providing recreational and leisure time activity in the interests of social welfare for people living in the areas of benefit who have need by reason of their youth, age, infirmity/ disability, poverty or social and economic circumstances with a view to improving the life of such persons. Page 3
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 OBJEcfivES AND ACTIVITIES Activities The Work-wise Foundation helps to bridge the gap between education/worklessness and employment. It translates learning and aptitude into employability and attributes that will enable young people to enter the workplace. Work-wise is unique in that it is designed, led, assessed and evaluated by the private sector. Work-wise companies not only contribute financially into the Foundation, they also commit to providing experiences and opportunities to industry standards as well as opening up their own job opportunities to young people as their business expands through recruitment onto apprenticeships, graduate recruitment programmes etc. Work-wise is relevant to all young people, from those in mainstream education to those with Special Education Needs and Disabilities (SEND) to those who are home educated, and supports all levels of learning and training, being equally appropriate for graduates and NEETS (Not in Education, Employment or Training) as it is for young people who do not wish to go into further and higher education. It is about work readiness, work awareness and work inspiration for all, and is now using the learning from its manufacturing and engineering beginnings to extend into other sectors, broadening the range of opportunities for young people, including offering opportunities to home educated young people and more generally from primary age upwards. The last four years has seen these opportunities be able to reach even more young people through development of new programmes, expansion of exiting events and programmes and also offering on-line and virtual opportunities. We deliver a number of standard programmes (Face to Face and Virtual) and also customised and personalised programmes to meet individual needs. Our core activities have included: Virtual and face to face Employability programmes delivered to young people still in school, FE or HE providing an extended introduction to the world of work and the skills and attitudes employers are looking for, plus progression routes into employment. Interactive and inspirational careers, information and advice events and workshops including regional showcase careers events for the Sector Get up to Speed with Science, Technology, Engineering and Manufacturing, and The North Star Science School. Both delivered in 2024/25 face to face reaching over 7,000 young people and educators. Modular programmes including What Employers Want, Teambuilding sessions, Skills Matter activities and STEMM-Wise days Employability Summer Academy's and extended employability programmes designed to fit around the curriculum. Careers Speed Networking cross sector sessions in Schools and attending schools careers sessions and evenings. Introducing Primary age students (Year I to Year 6) to STEAM (Science, Technology Engineering, Arts and Maths) and jobs raising knowledge, aspirations and awareness of the varied jobs and careers in STEAM. An education partnership with The Vulcan to the Sky Trust to introduce young people {primary and secondary age) into STEM experiences and careers through Vulcan XH558, an iconic peace of British engineering. These include the new Flying Roadshow Primary Days as well as competitions and challenges. Page 4
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) REPORTOF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 OBJECTIVES AND ACTIVITIES Attending and supporting careers days/speed networking and events in secondary schools and HE establishments. Working in partnership with Sheffield College to deliver an Employer Skills Academy and introduce students to employers to help bring their learning to life. Delivering Sector Routeways into Manufacturing and Warehousing Training programmes for those interested in pursuing a career in these job roles, delivered to all ages from School leavers to those older unemployed individuals. Developing and piloting new artivities, modules and materials that will embed green and sustainability knowledge and skills in future employees. Such as Build it Green. Supporting the development of Skills Street CIC World of Work and Careers attraction, opening in May 2025 We also deliver a number of support programmes for employers, communities and educational establishments to enable them to develop sustainable partnerships to open up opportunities for young people and help with transition from education and unemployment into work. We offer mentoring for employers as well as young people and have developed a" Be Prepared" Tool Kit and a range of training specifically for employers to help them engage more effectively with young people and help young people remain in employment and succeed. Our activities also include ensuring the Health and Safety and safeguarding of all participants and beneficiaries. Page 5
WORK-WISE FOUNDATION {REGISTERED NUMBER: 085112241 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 OBJECTIVES AND ACTIVITIES Public benefit In all activities the Trustees have had regard to the guidance issued by the Charity commission on public benefit. The Work-wise Foundation exists to deliver public benefit. Beneficiaries come from across the Sheffield Citv Region, with the added value of some benefitting from further afield Our main activities are to help inspire, inform and provide practical advice, hands on activities, support, skills and resilience to our beneficiaries helping them better prepare for future life and work. Why is this needed: Globally youth unemployment has been at a record high in the last decade. Forecast increases in youth unemployment. The COVID-19 Pandemic has only sep4ed to heighten this problem and is likely to have a continued negative impact over the coming years Industry continues to highlight skills and the lack of young people coming into the industry as a key challenge and concern. The commonly held consensus is that, on the whole, young people are inadequately prepared for work. This is a viewpoint that continues to prevail. There are no nationally agreed aims and outcomes for education - preparing young people for work does not seem to be integral to the education system. However, The Gatsby Career Benchmarks, adopted in the Government's Careers Strategy re-enforce the message that the more interactions young people have with employers, the more likely they are to succeed in gaining meaningful employment. Potentially generations of lost talent, impacting both economically and socially as many young people become NEET (Not in Education, Employment or Training). - A reduced number of young people starting and completing new apprenticeships. The Work-wise Foundation is part of the solution to these challenges: Work-wise is now a well-established brand in our Sheffield City Region and a go to organisation to help resolve these challenges. Its prime purpose is to make our young people 'Work wise, helping them make the transition from education into employment. Work-wise is quite unique in its approach. The charity was established by volunteer business leaders and has been designed by employers aligned to recruitment competencies. Work-wise framework is designed as an exit programme from education and training into work - its flexibility making it appropriate for all sectors, ages, qualifications, size of company etc. Work-wise removes barriers to work and apprenticeship opportunities, providing an essential 'pipeline' of work ready people who are 'fit for purpose, for local industry. It also works with young people who are NEET or who are at risk of becoming NEET. Page 6
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 ACHIEVEMENT AND PERFORMANCE Review of Activities The past year has seen a consolidation in activities and continued strong demand for our existing and new services and allowed us to continue to support individuals and organisations. We continue to receive amazing support from many industry and education/community leaders and utilise our forums which include employers, professionals. volunteers, teachers and other key stakeholders. This and the continuing ongoing impact of the pandemic, particularly on young people, the cost of living crisis and international factors have reinforced our belief that there is a desire and need for the work of the charity. During the year some of our key achievements were: Engaging with 10.032 beneficiaries in STEM and other employability related activities. Inspired and informed over 7,000 young people and educators through major events, Get up to Speed with STEM and North Star Science School. - Worked with and supported 456 employers and employees Supported 2,538 individuals, including primary children, secondary. college and university students, families and unemployed adults. Had 38 young people {aged 14-18) graduate from our STEM employability Academies. The full impact and outcomes of our activities are not always quantifiable in the short-term, but feedback we get on our events and activities is always very positive from students, educators and parents and also from employers. Here's just one example of recent feedback received: "It was the best decision l ever made, coming on The Work-wise Summer Academy. You've had a great impact on my career, and I think it's brilliant you are able to open doors for school leavers to engineering and STEM through your work" FINANCIAL REVIEW Financial review After a year of heavy investment in 2023124 to help future proof the Charity 202415 has seen a year of growth in trading levels with a turnover of £241,045 (up from £194,748) with a small loss of £1,507. Income came from restricted donations/ grants, unrestricted donations from employers, individuals and trusts and also from services provided as detailed in the accounts. There was a one off exceptional additional investment in the year to support the 15th Anniversary of Get up to Speed with STEM. The Trustees, aim to have reserves of up to £35,000 in the short term. This amount is broadly equivalent to three months fixed costs and will allow the Charity to respond to any short-term fluctuations in income. Given the current positive outlook and expected growth in 2025/26 due to secured additional contracts the Trustees do not consider that any reserves should be held to cover unplanned closure. The Trustees review the reserves policy annually. Page 7
WORK-WISE FOUNDATION (REGISTERED NUMBER.. 08511224) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 FINANCIAL REVIEW Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Charlty constltutlon Registered as a charitable company limited by guarantee and was set up by a Trust deed. The company is constituted under a Trust deed and is a registered charity, number 1155597. Governance of The Work-wise Foundation is detailed in the Memorandum and Articles of Association dated 30 April 2013. Methods of appolntment or electlon of Trustees The minimum number of Trustees for The Work-wise Foundation is two. Recruitment and appointment of new trustees is by ordinary resolution. The Charity may appoint a person who is willing to act to be a Trustee and determine the rotation by which any trustees are to retire. The Trustees manage the business of the Charity and may exercise all the powers of the Charity unless they are subject to any restrictions imposed by the Companies Acts, the articles or any special resolution. FUNDS HELD AS CUSTODIAN FOR OTHERS No funds are held by the Charity as custodian trustee. Page 8
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees {who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including it5 income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102). make judgements and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on 25 June 2025 and signed on its behalf by: C P Hudson MBE - Trustee Page 9
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224> Independent examiner's report to the trustees of Work-wise Foundation ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as 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. Page 10
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) Independent examiner's statement 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: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 the accounts do not accord with those records; or 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 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. SLAvtr Scott Mell Gibson Booth Limited 12 Victoria Road Barnsley South Yorkshire S70 2BB Date: 9 q Jla.. L)LS Page 11
WORK-WISE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 30 APRIL 2025 30.4.25 Total funds 30.4.24 Total funds Unrestricted Restrirted fund funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies 5,883 21.458 27.341 22,797 Charitable actlvities Service5 provided 213.704 213,704 171,951 Total 219.587 21,458 241,045 194,748 EXPENDITURE ON Raising funds 73,786 73,786 55,670 Charitable artlvltles Services provided Governance 135.156 4,029 23,955 159,111 4.029 159,893 3,265 Other costs 5.626 5,626 4,197 Total 218.597 23,955 242,552 223,025 NEf INCOME/(EXPENDITURE) 990 (2,497) (1,507) (28,277) RECONCILIATION OF FUNDS Total funds brought forward 21,426 4,997 26,423 54,700 TOTAL FUNDS CARRIED FORWARD 22,416 2,500 24.916 26,423 The notes form part of these financial statements Page 12
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) BALANCE SHEEr 30 APRIL 2025 30.4.25 Total funds 30.4.24 Total funds Unrestricted Restrlcted fund fvnd5 Notes CURRENT ASSETS Stocks Debtors Cash in hand 14 15 108 9.236 27,930 108 9.236 30.430 108 8,867 45,270 2.500 37,274 2.500 39.774 54,245 CREDITORS Amounts falling due within one year 16 (14.026) (14,026) (21,990) NET CURRENT ASSETS 23,248 2,500 25,748 32,255 TOTAL ASSETS LESS CURRENT LIABILITIES 23,248 2,500 25,748 32,255 CREDITORS Amounts falling due after more than one year 17 {832) (832) (5,832) NET ASSErs 22,416 2,51XI 24,916 26,423 FUNDS Unrestricted funds Restricted funds 19 22.416 2,500 21,426 4,997 TOTAL FUNDS 24,916 26,423 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements Page 13 continued...
WORK-WISE FOUNDATION (REGISTERED NUMBER: 08511224) BALANCE SHEEf- contlnued 30 APRIL 2025 The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and {b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 25 June 2025 and were signed on its behalf by: CPHU son MBE- Trustee The notes form part of these financial statements Page 14
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 COMPANY STATUS The charity is a private company Ilmited by guarantee incorporated in England and Wales. The members of the company are the trustees named on page l. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered office is shown on page l. ACCOUNTING POLICIES Basis of preparing the financlal 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 1021 '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 l January 2019),. 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Expendtture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits 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. Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meeting and any legal advice to trustees on governance or constitutional matters. Costs of generating funds are the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 15 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025 ACCOUNTING POLICIES - continued Expenditure Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the us of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated using a first-in, first-out method and includes all purchase, transport and handling costs that have been incurred in bringing the stocks to their present location and condition. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon costs and other post-retlrement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Government grants Government grants receivable are recognised when there is a reasonable assurance that the grant conditions will be met and is included within other operating income. Page 16 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 APRIL 2025 DONATIONS AND LEGACIES 30.4.25 30.4.24 Donations 27.341 22,797 INCOME FROM CHARITABLE ACTIVITIES 30.4.25 30.4.24 Activlty Services provided Charitable activities 213.704 171,951 RAISING FUNDS Other trading actlvitie5 30.4.25 30.4.24 Staff costs 73,786 55,670 CHARITABLE AcfiviTIES COSTS Direct Costs (see note 7) Support costs (see note 8) Totals Services provided Governance 159,111 159,111 4,029 4,029 159.111 4,029 163,140 Page 17 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 APRIL 2025 DIREcf COSTS OF CHARITABLE AcfiviTIES 30.4.25 30.4.24 Staff costs Postage and stationery Advertising Sundries Direct project costs Establishment project costs Office expenses Travel & entertainment Subscriptions Interest payable and similar charges 30,055 43,301 299 18,971 1,920 64,976 25,983 2,335 1,305 448 355 8,517 2.025 69,312 42,884 3,993 870 546 265 159,111 159,893 SUPPORT COSTS Governance costs Governance 4,029 OTHER COSTS 30.4.25 30.4.24 Establishment costs Office costs Interest payable and similar charges 2,795 2,617 214 2,187 1,671 339 5.626 4,197 Page 18 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025 10. NET INCOME/(EXPENDITURE) Net income/{expenditure) is stated after charging/(crediting): 30.4.25 30.4.24 Independent examiner's fee 2.400 2,200 11. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30 April 2025 nor for the year ended 30 April 2024. Trustees. expense5 There were no trustees, expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024. 12. STAFF COSTS 30.4.25 30.4.24 Wages and salaries Social security costs Other pension costs 105,435 2,273 2,420 95,131 1.456 2,383 110,128 96,565 The total amount of employee benefits received by key management personnel £69,347 (2024: £57,577). The average monthly number of employees during the year was as follows: 30.4.25 30.4.24 Management Charitable activities No employees received emoluments in excess of £60,000. Page 19 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,175 21,622 22,797 Charltable activltles Services provided 171,951 171,951 Total 173,126 21,622 194,748 EXPENDITURE ON Raising funds 55,670 55,670 Charltable actlvltles Services provided Governance 125,245 3,265 34,648 159,893 3,265 Other costs 4,197 4,197 Total 188,377 34,648 223,025 NET INCOME/(EXPENDITURE) (15,251) (13,026) (28,277) RECONCILIATION OF FUNDS Total funds brought forward 36,677 18,023 54,700 TOTAL FUNDS CARRIED FORWARD 21,426 4,997 26,423 Page 20 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025 14. STOCKS 30.4.25 30.4.24 Stocks 108 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.4.25 30.4.24 Trade debtors Prepayments and accrued income 6.224 3,012 8,753 114 9.236 8,867 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.4.25 30.4.24 Bank loans (see note 18) Trade creditors Social security and other taxes VAT Other creditors Accruals and deferred income 5,000 1,103 1.574 3.620 529 2,200 5,000 2,325 1,368 1,097 12,200 14.026 21.990 Page 21 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2025 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 30.4.25 30.4.24 Bank loans {see note 18) 832 5,832 18. LOANS An analysis of the maturity of loans is given below: 30.4.25 30.4.24 Amounts falling due within one year on demand: Bank loans 5,000 5,000 Amounts falling between one and two years: Bank loans- 1-2 years 832 5,832 19. MOVEMENT IN FUNDS Net movement In funds At 30.4.25 At 1.5.24 Unrestrlcted funds General fund 21,426 990 22,416 Restricted funds South Yorkshire Community Foundation Chruch Burgess 4,997 (4,997) 2,500 2.500 4.997 (2.497) 2.500 TOTAL FUNDS 26,423 (1.507) 24.916 Page 22 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR_ TH_E YEA_R_ ENDED 30 APRIL 2025 19. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resource5 Resources expended Movement in funds Unrestrlcted funds General fund 219,587 (218,597) 990 Restricted funds South Yorkshire Community Foundation Ironmongers Chruch Burgess Remark learning 14.997) (15,000) (2.500) (1.458) (4,997) 15,000 5.000 1,458 2.500 21,458 (23.955) (2,497) TOTAL FUNDS 241.045 (242,552) (1,507) Comparatives for movement In funds Net movement In funds At 30.4.24 At 1.5.23 Unrestrlcted funds General fund 36,677 (15,251) 21,426 Restricted funds South Yorkshire Community Foundation Social Investment Business Grant 7,833 10,190 {2,836) (10,190) 4,997 18,023 (13,026) 4,997 TOTAL FUNDS 54,700 (28,277) 26,423 Page 23 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 APRIL 2025 19. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 173.126 (188,377) (15,251) Restricted funds South Yorkshire Community Foundation Ironmongers Social Investment Business Grant 4,997 16,625 (7,833) {16,625) (10,190) (2,836) {10,190) 21,622 (34,648) (13,0261 TOTAL FUNDS 194,748 (223,025) {28,277) A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 30.4.25 At 1.5.23 Unrestricted fund5 General fund 36,677 (14,261) 22,416 Restrlcted funds South Yorkshire Community Foundation Social Investment Business Grant Chruch Burgess 7,833 10,190 (7,833> (10,190) 2,500 2,500 18,023 (15,523) 2,500 TOTAL FUNDS 54,700 (29,784) 24,916 Page 24 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEA_R_ ENDED 30 APRIL 2025 19. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incomln8 resources Resources expended Movement In funds Unrestricted funds General fund 392,713 (406,974) (14,261) Restricted funds South Yorkshire Community Foundation Ironmongers Social Investment Business Grant Chruch Burgess Remark learning 4,997 31,625 (12,830) {31,6251 (10,1901 (2,500) (1,458) (7,8331 {10,190) 2,500 5,000 1,458 43,080 (58,603) {15,523) TOTAL FUNDS 435,793 (465,577) (29,784) Restricted funds are used for particular restricted purposes. Restricted funds comprise of income and expenditure in relation to the provision of events and projects that further the objectives of the company. 20. RELATED PARTY DISCLOSURES M Cooper, a trustee of the company, is also a director of CBE Plus Ltd. The charitable company recognised sponsorship income in the year from CBE Plus Ltd of £14,400 (2024: £11,000) and income for services provided of £113 {2024: £94). C Hudson. a trustee of the company. is also a director of Chimo Sheffield (Manufacturing) Limited. The charitable company recognised a reimbursed expense of £nil (2024: £nil) in relation to Chimo Sheffield (Manufacturing) Limited. Page 25 continued...
WORK-WISE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 APRIL 2025 21. OEFERRED INCOME The following amounts are included in creditors falling due within one year. 2024 2024 Balance at l May Amount released to incoming resources Amount deferred in the year 10.000 (6000) 22,625 {18,625) 6,000 Balance at 30 April 10,000 Page 26
WORK-WISE FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 202S 30.4.25 30.4.24 INCOME AND ENDOWMENTS Donations and legacles Donations 27.341 22,797 Charitable activltles CharitabSe activities 213,704 171,951 Total incomlng resources 241,045 194,748 EXPENDITURE Other trading activities Wages Social security Pensions 70,641 1.523 1,622 53,510 820 1,340 73.786 55,670 Charltable activities Wages Social security Pensions Postage and stationery Advertising Sundries Direct project costs Establishment project costs Office expenses Travel & entertainment Subscriptions Bank charges 28,506 750 799 644 8,517 2,025 69.312 42,884 3,993 870 546 265 39,462 1,456 2,383 299 18,971 1,920 64,976 25,983 2,335 1,305 355 159.111 159,893 Other costs Establishment costs Carried forward 2,795 2.795 2,187 2,187 This page does not form part of the statutory financial statements Page 27
WORK-WISE FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 30.4.25 30.4.24 Other costs Brought forward Office costs Bank loan interest 2,795 2,617 214 2,187 1,671 339 5,626 4,197 Support costs Governance costs Independent examiner's fee Accountancy and legal fees 2,400 1,629 2.200 1,065 4,029 3,265 Total resources expended 242,552 223,025 Net expenditure (1,507) {28,2771 This page does not form part of the statutory financial statements Page 28