Melinek Fine LLP Chartered Accountants Statutory Auditors First Floor, Winston House 349 Regents Park Road London N3 1DH 



WORKAVENUE.
THE WORK AVENUE FOUNDATION
CONTENTS OFTHE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER2022
Page
Report of the Tru8tees
Report of the Independent Auditors
8 to 10
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
Note8 to the Cash Flow Staternent
Notes to the Financial Statements
15 to 21

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
The trustees who are also directors of the charity for the purposes of the Cornpanies Act 2006, present their report
with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the
provisions of Accounting and Reporting by Charities.. Statement of Recommende(J Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of
Ireland IFRS 1021 leffective 1 January 20191.
OBJECTIVES AND ACTIVITIES
Objectives and aim8
WORK AVENUE OVERVIEW
The Work Avenue Foundation provides people with essential lifelong skills to support themselves and their families
through helping people into work and with building sustainable businesses.
The Work Avenue Foundation can help everyone, at any life stage. The Work Avenue Foundation aims to provide
people with essential lifelong skills to support themselves and their families by..
Providing support to get people into or back into work.
Assisting individuals in finding jgbs.
Training people for the workplace.
Enabling people to make inforrned career choices.
Increasing the success rate and long-term sustainability of new and existing businesses.
The Work Avenue Foundation comprises the following key areas..
il Support into Employment.
21 Business Support Services.
31 WAGE 80cial enterprise.
Page I

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
OBJECTIVES AND ACTIVITIES
Significant activities
The Work Avenue Foundation Vision..
A strengthened community where individuals have the ability to be able to SUPPOrt themselves and their families
with dignity.
A community where each individual feels responsible to donate time, money and resources to ensuring the
financial stsbility of their fellow man or woman.
-The ability to leverage the human capital within the community creating a robust infrastructure and net-work giving
people the best chance of sUPPOrting thern5elves and their families.
A community that embraces what Maimonides refers to as the highest form of charity 'helping strengthen a
person to become self-suff icient and financially secure so that he or She need not rely on others"
The Work Avenue Foundation Mission
The Work Avenue Foundation's mission isto build an infrastructure and offer service5 that will ernpower individuals
prirnarily within the Jewish community to rraximise their earning potential enabling them to secure gainful
employrnent or build 5U8tainable businesses.
Core Principles
The Work Avenue Foundation delivers Its services in accordance with the following prin¢iples=
Treat each person as an in(Jividual with dignity and respect.
Think'out of the box. and go the extra mile for all service users.
Strive for excellence and profe55ionalism in all activities.
8uild open and honest relatlonships with comrnunication.
Be passionate and deterrnined.
Strategies
To provide practical help and solutions for those looking to earn a sustainable living through running a business or
seeking employment.
To ensure that WE Hub continues to be a central hub for business and employment across the entire Spectrum of
the cornrnunity.
To harne88 the human capital in the comrrunity and use it to create business and employment opportunities
across
the community.
- To ensure that The Work Avenue Foundation and WE Hub become household names when referring to business and
employrnent support.
Maintain an impeccable reputation as the cornmunity'8 provider for business and employrnent SUPPOrt.
WORK AVENUE ACTIVITIES
Overview of The Work Avenue Foundation
The Work Avenue Foundation, a non-profit organisation, is the community's lea(Jing employment and business
support charity asslsting people in creating long term sustainable income8 either through creating employment or
building businesses. The Work Avenue Foundation creates opportunities for everyone, at any life stage, in any
situation.
Work Avenue ha5 been operational for 17 years and provides people with essential lifelong skills, enabling them to
become financially independent so they can support themselves and their families with dignity.
The Work Avenue Foundation enables and empowers people to be able to stand on their own two feet, which is
fundamental to reducing poverty and hardship in parts of our cornmunity.
The ability to financially support oneself and one's farnily with dignity an(J pride is Vltal in leading a productive and
fulfilling life. Work Avenue is one of the core charitable pillars of our cornmunity, providing vital services to those
requiring assistance to ensure long terrn financial stability.
Work Avenue offers SUPPOrt through our two divisions, ernployment and business, and also run8 a social enterprise
alled WAGE, which aims to create ernployment and grow businesse8 by training a workforce to support businesses
in key areas so they can grow and develop.
Ernployment Support..
Training people in workplace skills.
Providing support to get people into or back into work.
Assist client5 by placing them in work.
Enabling people to make inforrned career choice8.
Page 2

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
OBJECTIVES AND ACTIVITIES
Business Support..
Supporting businesses thereby increasing their success rate and long-term sustainability with one to one advice
and guidance.
Signposting an(J start-up loans.
Networking and expert intervention8.
Shared workspace.
Providing mentoring support to established bu8ines8-owner8.
WAGE Social Enterprise
Training in essential new workplace skills to rnernbers looking to train or retrain for today's job market
Essential work experience to newly trained members so they can con801idate their learning
Tirneiy and affordable project support to Small businesse5 to help their business grow and thrive
Quality control to ensure con518tency and standards
In 2022-
1,434 clients were supported so they have the vital skills needed for today's workplace
534 people have found new jobs with our intervention
618 young businesses are thriving with our input and encouragement
204 school student5 received career advice
1,61 O ernployment advice meetings took place
The Work Avenue Foundation ha8 successfully met and exceeded all previous goals set-
Continued to innovate based on the need in the rnarket, while still maintaining a person centred approach.
Created alliances With other organi5atlOns and bu5ine55es.
Increased the breadth of its funding base through foundations, donations and harnessing the power of technology
using crowdfunding.
Met the huge increase in the demand for its Services, whilst maximi8ing the professional team and core cost8
eff iciently.
Penetrated the Jewi8h community and beyond.
WORK AVENUE SERVICES
The Employment Division Service8
Job readiness skills and training
Work Avenue offers a range of workshop5 covering key areas of employability including CV writing, confidence
building, interview skills, transferable skills and networking. Job seeker5 are invited to attend these sessions where
they learn how to rnaximise their employment potential and increase their chance8 of securing work.
One to one bespoke support
Individual careers guidance, mo¢k inteNiews and employment support consultations.
Job Placement
Work Avenue reaches out into the community and beyond to seek work opportunities that will populate our web
based jobs board. Clients are able select opportunitie5 to pursue, and at the same tirne we will select clients to put
forward.
Events and programme8
Work Avenue runs a range of dedicated programmes to meet the dernands of a specific client cohort. Recent
examples include the New Year, New Career Conference, the Wellbeing at Work Conference, a Recruitment and
Retention webinar and regularjobs fairs.
Networking
Work Avenue broadens its networking reach with a suite of dedicated networking events. The airn is to bring
together professionals in a field with clients who work or seek to work in a given sector. thus promoting both the
clients, employment chances and Work Avenue's profile at the same time.
School8 programme
Page 3

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
OBJECTIVES AND ACTIVITIES
Work Avenue runs a suite of bespoke careers workshops for students frorll years 8 to 13 and also offers dedicated
one to one careers guidance to sixth form students. The organisation has Matrix accreditation, the UK kiternark
standard for organisations offering inforrnation, advice and guidance. and therefore conforrns to the Government's
Gatsby Benchmarks for schools, careers guidance.
Support for training
Work Avenue run5 a bursary fund to enable clients who need to train or r*train to earn their living and cannot afford
to do so. Grant5 are made subject to conditions, and clients have the benefit of Work Avenue's dedicated
professional ernployment and busine88 advisers to support them as they retrain. For those that need, we can ai80
offer short terrn loans of laptops so clients can carry out a job search.
WAGE Social Enterprise Service8
WAGE Members
Members train in a new field and gain vital work experience. Once upskilled, we offer essential real and practical
project work with small businesse8 to gain practical hands on experience to get their career off to a great start.
WAGE Training
Wage skills include graphic design. web design, social media, IT and admin.
WAGE Businesses
WAGE offers key service5 to small businesses by utilising the bank of fully trained rnembers to complete these
projects in a timely and affordable way. Projects can be short or longer term, full or part time.
The Busine88 Divison Services
One to One Business Advice
On-going one-to one advice 8e88ions for new and existing entrepreneurs.
Business Workshops and Webinar8
Regular workshop5 and webinars to our network of entrepreneurs and 8rnall businesses on a range of topics to
support the growth and developrnent of their bu8ines8.
Business Network
Outreach of business professionals to enhance business network and support start-up entrepreneurs in areas
where they seek expertise and provide rnentoring support for established business owners.
Professional Business Services
Partner with professionals to provide affordable packages for start-ups. following referral policy. Include8 finaricial,
legal, IT and marketing.
The Work Avenue Ecosystem
Develop a one-ec05yStem community culture, maximising synergies across the businesses, departments and
network8 at The Work Avenue.
Networking Event8
Series of networking event5 Wlth engaging and relevant keynote speakers for new and existing businesses.
WE Hub shared workspace
Work Avenue run WE Hub, the community's first business and employrnent hub. WE Hub is a dynamic environment
for businesses to grow and become self-sustaining. The layout and mix of facilities at WE Hub have been designed
to encourage interaction between entrepreneurs and industry experts, building a network, creating opportunities in
all areas of employment and self-employrnent. Offering our services from this state of the art facility has enabled us
to expand our provision and help many more people each year to support themselves and their families. putting the
importance of helping people into jobs and sustainable erllployment firmly on the map and at the forefront of our
mind5 as a community.
Page 4

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
OBJECTIVES AND ACTIVITIES
Public benefit
The Trustees confirrn that they have referred to the guidance contained in the Charity Cornmis8ion's general
guidance on public benefit when reviewing the Charity's airns and objectives and in planning activities and provision
of services to the public by ensuring that it does not place undue restrictions on members of the public seeking to
make use of the charity's services and facilities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The following table shows the number of service u8ers of The Work Avenue Foundation by departrnent for the year
ending 31 December 2022..
Service
2022
2021
Employment division-
Ernployability training
Careers guidance and mock interviews
Job placement via Work Avenue job board
Job placement
1,060
1,610
89
390
1,550
1,464
116
326
Busines8-
One-to-one busine85 advice and serninar attendee8
Event attendees
665
526
663
701
FINANCIAL REVIEW
Principal f unding sources
Since the pandemic the charity ha5 relie(J heavily upon its generous and philanthTOPiC donors for continue(J support,
together with harnessing the power of crowdfunding. The charity ran its first crowdfunding campaign in September
2019 and raised over £1 M. A second crowdfunding carnpaign was delivered in January 2021 and raised £1.1 M and
third carnpaign in Novernber 2022 raised over £1 M. Crowdfunding ha5 allowed the charity to extend its reach to
much wider pool of donors both rnajor and minor, and specifically has allowed clients and former clients to
recognise the value of the support they have re¢eived from the organisation as they get their working lives ba¢k on
track.
Reseryes policy
As at December 2022 the charity'5 unrestricted funds were £573.473 12021.. £531,941) and restricted funds were
£38,00512021.. £142,359). The trustees are satisfied that the charity is able to raise suff icient funds to meet the
harity's objectives, and is working towards a strategy to place 6 months reserves on deposit. The accounts have
therefore been prepared on a going concern basis.
The Work Avenue Foundation's reserve8 policy is to maintain Sufficient level of reserve5 to enable operating
activities to be maintained for the foreseeable future, taking account of potential risks and contingencies that may
arise frorn time to tirne. The policy is reviewed annually by the trustee5.
Arrounts are set aside to meet financial risks associated with potential contingencies and uncertainties relating to
the charity'5 operating activitie5. These include..
The funding of unforeseen rnajor projects that have not been provided for in the normal financial planning process.
The setting aside of an appropriate sum for enabling the continuation of The Work Avenue Foundation's operations
and grant-making prograrn.
STRUCTURE, GOVERNANCEAND MANAGEMENT
Governing document
The charity is governed by it8 Mernorandum and Articles of Association and is a company limited by guarantee.
Recruitment and appointment of new tru8tees
Trustees are appointed according to the Articles of A88ociation.
Page 5

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational Structure
The board of trustee5 administers the charity. They appoint a CEO, together with a staff team, that oversees the
day-to-day affairs. During the accounting period Mr Davi(J Arden resigned as CEO as Mrs Debbie Lebrett was
appointed.
Induction and training of new trustees
New trustees undergo a briefing on their legal obligations un(Jer company and charity law.
REFERENCEANDADMINISTRATIVE DETAILS
Registered Company number
09595853 (England and Walesl
Registered Charity number
1164762
Registered office
First Floor, Winston House
349 Regents Park Road
London
N31DH
Trustees
Mrs L S Jacobs (resigned 20.3.231
MrPJMann
MrMZMorris
MrSJH Pack
Mrs S Kintish
MrsP Mintz
Mrs N Sandler (appointed 2.5.231
Auditors
Melinek Fine LLP
Chartered Accountant8
Statutory Au(Jitors
First Floor, Winston House
349 Regents Park Road
London N3 1 DH
Website
theworkavenue.org.uk
Banker8
Barclays Bank UK PLC
I Churchill Place,
London E145HP
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees Iwho are a150 the directors of The Work Avenue Foundation for the purposes of company lawl are
responsible for preparing the Report of the Trustees and the financial statement8 in accordance with applicable law
and United Kingdorn Accounting Standards (United Kingdorn Generally Accepted Accounting Practice).
Corvpany law requires the trustee8 to prepare financial staternents for each financial year which give a true and fair
view of the state of affair5 of the charitable company and of the incoming resources and application of resources,
including the income and expenditure, of the charitable company for that period. In preparing those financial
statements. the trustee5 are required to..
select 5Ultable accounting policies and then apply them consi8tently-
observe the methods and principle5 in the Charity SORP..
make judgements and estirnates that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless it 18 inappropriate to presume that the
charitable company will continue in busine85.
Page 6

WORKAVENUE.
THE WORKAVENUE FOUNDATION (REGISTERED NUMBER= 095958531
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER2022
STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the charitable company and to enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities.
In 80 far as the trustees are aware..
there is no relevant audit information of which the charitable cornpany's auditors are unaware., and
the trustee5 have taken all steps that they ought to have taken to rnake thernselves aware of any relevant audit
information and to establish that the auditors are aware of that information.
AUDITORS
The au(Jitors, Melinek Fine LLP, will be proposed for re-appointment at the forthcorning Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating to small companies.
Approved by order of the board gf trustees on
27 September 2023
and signed on its behalf by..
Mr M Z Morri8- Trustee
Page 7

WORKAVENUE.
REPORT OFTHE INDEPENDENT AUDITORS TOTHE MEMBERS OF
THE WORKAVENUE FOUNDATION
Opinion
We have audited the financial statement8 of The Work Avenue Foundation (the 'charitable company'l for the year
ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow
Statement an(J notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial staternents..
give a true and fair view of the state of the charitable company's affairs a8 at 31 Oecember 2022 and of its
incoming resources and application of resources, including it5 incorne and expenditure, for theyear then ended..
have been properly prepared in accordance with Unite(J Kingdorn Generally Accepted Accounting Practice., and
have been prepared in accordance with the requirements of the Cornpanie5 Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standard5 on Auditing IUKI IISA5 IUKII and applicable law.
Our responsibilities under those standards are further describe(J in the Auditors, responsibilities for the audit of the
financial staternents section of our report. We are independent of the charitable company in accordance with the
ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have conclude(J that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charitable cornpany'5 ability to
continue as a going concern for a period of at least twelve months from when the financial staternent8 are
authorised for issue.
Our responsibilitie8 and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information cornprises the inforrnation included in
the Annual Report. other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion cn the financial statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial staterllents, our responsibility is to read the other information and. in
doing so. consider whether the other information is materially inconsistent with the financial statement5 or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
incon51Stencies or apparent material misstatements, we are required to determine whether this gives rise to
material misstatement in the financial statements thernselves. If, based on the work we have performed. we
conclude that there is a material misstaternent of this other information, we are required to report that fact. We
have nothing to report in this regard.
Opinions on other matters prescribed by the Companie8 Act 2006
In our opinion, based on the work undertaken in the course of the audit-.
the information given in the Report of the Trustees for the financial year for which the financial staternents are
prepared is consistent with the financial statements., an(J
the Report of the Trustees has been prepared in a¢cordan¢e with appli¢able legal requirements.
Page 8

WORKAVENUE.
REPORT OFTHE INDEPENDENT AUDITORS TOTHE MEMBERS OF
THE WORK AVENUE FOUNDATION
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatement8 in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires US to report to
you if. in our opinion..
adequate accounting records have not been kept gr returns adequate for our audit have not been received from
branches not visited by us-, or
the financial statements are not in agreement with the accounting records and returns.. or
certain disclosures of trustees, rernuneration specified by law are not made,. or
we have not received all the inforrnation and explanations we require for our audit.. or
the trustees were not entitled to take advantage of the small companies exernption frorll the requirement to
prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustee8
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the director8 of
the charitable cornpany for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee5
determine is necessary to enable the preparation of financial statements that are free from material rnisstatement,
whether due to fraud or error.
In preparing the financial statements, the trustees are responsible fu assessing the charitable company's ability to
ontinue a5 a going concern, di5cIosing, as applicable. matters related to going concern and using the going concern
basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or
have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial staternents as a whole are free from
material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that
includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an au(Jit
onducted in accordance with ISAS IUKI will always detect a material rnisstatement when it exists. Mi55tatements
an arise from fraud or error and are considered rnaterial if, individually or in the aggregate, they could reasonably
be expected to influence the economic decislOn5 of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
Audit procedures undertaken in response to the potential risks relating to irregularitie5 Iwhich include fraud and
non-compliance with laws and regulations) comprised of.. inquiries of rnanagement and those charged with
governance a5 to whether the entity complies with such laws and regulations,. enquiries with the same concerning
any actual or potential litigation or claims,. inspection of relevant legal correspondence- review of board rninutes-
testing the appropriatene58 of entries in the norninal ledger, including journal entries., reviewing transactlOnS
around the end of the reporting period,. and the perforrnance of analytical procedures to identify unexpected
movements in account balance5 which may be indicative of fraud.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities.
including fraud. 15 limited by the inherent diff iculty in detecting irregularities, the effectiveness of the entity's
contro15, and the nature, timing and extent of the audit procedures performed. Irregularities that result frorn fraud
might be inherently rnore difficult to detect than irregularities that result from error. AS explained above, there is an
unavoidable risk that material rni55tatements may not be detected, even though the audit has been planned and
performed in accordance with ISAS IUKI.
A further description of our re5ponsbilities for the audit of the financial 8taternentS 15 located on the Financial
Reporting Council's website at www.fr¢.org.uk/auditorsresponsibilities. This des¢ription forms part of our Report of
the Independent Auditors.
Page 9

WORKAVENUE.
REPORT OFTHE INDEPENDENT AUDITORS TOTHE MEMBERS OF
THE WORK AVENUE FOUNDATION
Use of our report
This report 15 made solely to the charitable company's members, a5 a body. in accordance with Chapter 3 of Part 16
of the Cornpanies Act 2006. Our au(Jit work has been undertaken 80 that we rnight State to the charitable company,
members those matters we are required to state to them in an auditors, report and for no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable cornpany's mernbers as a body, for our audit work. for this report. or for the opinions we
have formed.
Mr Daniel Fine, FCA (Senior StatutoryAuditorl
for and on behalf of Melinek Fine LLP
Chartered Accountants
Statutory Auditors
First Floor, Winston House
349 Regents Park Road
London
N31DH
Oate..
27 September 2023
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27 September 2023 



The notes form part of these financial statements 

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The notes form part of these financial statements 

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WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER2022
ACCOUNTING POLICIES
Basis of preparing the financial ststements
The financial staternents of the charitable company. which is a public benefit entity under FRS 102. have
been prepared in accordance with the Charities SORP IFRS 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 IFRS 1021 (effective l January
20191., 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.
Income
All incorne 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.
Expenditure
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 settlernent
and the arnount 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 resource5. Grant5 offered subject to conditions which have not been met at the
year end date are noted as a corrrnitment but not accrued a8 expenditure.
Tangible fixed a88ets
Depreciation 15 provided at the following annual rates in or(Jer to write off each asset over its estirnated
useful life.
Fixtures and fitting8
Corllputer equiprnent
15% on reducing balance
33% on reducing balance
Taxation
The charity 18 exemptfrom corporation tax on it8 charitable activities.
Fund accounting
Funds held by the charity are..
Unrestricted funds- These are general fund8 for use by the charity in furtherance of the charitable objects at
the discretion of the Trustees.
Restricted funds These are funds donated to the charity to spend on a specific area of expenditure. The
funds may only be expended on the specific object for which they were given. Any balance remaining unspent
at the end of each year must be carried forward as a balance on that fund.
Leasing commitments
Rentals payable under operating leases are charged to profit or1088 on a straight line basi8 over the period of
the lease. Incentive5 received and receivable to sign an operating lease are recognised on a straight line
basis over the lease term
Pension costs and other p08t-retirement benefit8
The charitable company operates a defined contribution pension scheme. Contributions payable to the
charitable cornpany's pension scheme are charged to the Statement of Financial Activities in the period to
which they relate.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value.
Page 15
continued...

WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TOTHE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER2022
DONATIONSAND LEGACIES
2022
2021
Donations
Gift aid
886.641
19,400
1,012.009
33,113
906.041
1,045,122
OTHER TFIADING ACTIVITIES
2022
2021
Business and office Services
Training and work placement
194.126
17.760
159,134
29,505
211,886
188,639
Included wrfchin training and work placernent is £5,10012021.. £15,659) of incorne received from participants
in training courses.
INVESTMENT INCOME
2022
2021
Oeposit account interest
37
RAISING FUNDS
Rai8ing donation8 and legacies
2022
2021
Fundraising
38.006
21,799
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
71
Support
osts15ee
note 81
Direct
Costs
Totals
Charitable activities
Other
830.489
63.156
225.141
23.968
1,118.786
23.968
830.489
63,156
249.109
1,142,754
Page 16
continued...

WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER2022
GRANTS PAYABLE
2022
2021
Charitable activities
63.156
87,479
SUPPORT COSTS
Governance
cost8
Finance
Other
Totals
Charitable activities
Other
225.141
5.880
225.141
23,968
3,255
14,833
3.255
231.021
14,833
249,109
NE[ INCOME/IEXPENDITUR@
Net incomellexpenditurel is stated after chargingllcrediting)=
2022
2021
Depreciation- owned assets
Other operating lea8es
5.880
126.988
7,808
105,600
10. AUDITORS. REMUNEFIATION
2022
2021
Fees payable to the charity's auditors for the audit of the charity's financial
statements
Other non-audit services
3.600
3.300
3,600
3,300
TRUSTEES, REMUNERATION AND BENEFITS
There were no tru5tees' rernuneration or other benefits for the year ended 310ecember 2022 nor for the year
ended 31 December 2021.
Trustees, expenses
There were no trustees, expenses paid for the year en(Jed 31 December 2022 nor for the year ended
31 December 2021.
12.
STAFF COSTS
2022
2021
Wage8 and salaries
Social security costs
Other pension costs
539.526
59,241
10,501
477,563
45,448
9.827
609.268
532,838
The average monthly number of employees during the year was as follows..
2022
15
2021
14
Staff member8
Page 17
continued...

WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TOTHE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER2022
12.
STAFF COSTS- continued
The nurnber of employees whose employee benefits (excluding employer pension costsl exceeded £60,000
was..
2022
2021
£60,001- £70,000
£80,001 - £90,000
Both of the above mentioned erllployees were key managernent personnel.
13. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Computer
equipment
Totals
COST
At l January 2022 and 31 Oecember 2022
42.849
39.772
82.621
DEPRECIATION
At l January 2022
Charge foryear
21.989
3.129
31.519
2.751
53.508
5.880
At 31 Oecember 2022
25.118
34.270
59.388
NET BOOKVALUE
At 31 December 2022
17.731
5,502
23,233
At 31 December 2021
20,860
8,253
29,113
14.
OEBTORS". AMOUNTS FALLING DUE WITHIN ONEYEAR
2022
2021
Trade debtors
Other debtors
Prepayments and accrued income
24,729
798.500
2,506
21,983
821.940
13,542
825,735
857,465
Page 18
continued...

WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TOTHE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER2022
15.
CREDITORS- AMOUNTS FALLING DUEWITHIN ONEYEAR
2022
2021
Trade creditors
Pension
Net wages
Accruals and deferred incorne
212.158
3.298
243
6.900
4.025
3.983
6,900
222.599
14,908
16.
CREDITORS: AMOUNTS FALLING DUEAFTER MORETHAN ONEYEAR
2022
2021
Accruals and deferred incorne
490.163
590,548
17.
LEASING AGREEMENTS
Minimum lease payrnents under non-cancellable operating leases fall due a8 follow8-
2022
2021
Within one year
8etween one and five years
In more than five years
105.269
421.077
2,149,837
66,000
264.000
2.295.912
2,676,183
2,625,912
In April 2018 The charity entered into a 25 years operating lease agreement expiring in April 2041. Total
future minirnum payment under non-can¢ellable operating lease is £2,544,183.
18.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.22
Atl.1.22
Unrestricted fund8
General fund
531.941
41.532
573.473
Restricted funds
Restricted funds
WAGEfund
8ur5ary fund
9,753
90.518
42.088
6.749
181.415)
129.688)
16.502
9.103
12.400
142.359
1104.3541
38.005
TOTAL FUNDS
674,300
162.8221
611,478
Page 19
continued...

WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TOTHE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER2022
18.
MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follow8-
Incorning
resources
Resources
expended
Movement
in funds
Unrestricted fund8
General fund
1,022.781
1981.249)
41.532
Restricted funds
Restricted funds
WAGEfund
8ur5ary fund
7,500
54.087
33.570
1751)
1135.502)
163.258)
6.749
181.4151
129.6881
95.157
1199.511)
1104.3541
TOTAL FUNDS
1,117,938
11,180,760)
162.8221
Comparative8 for movement in fund8
Net
movement
in funds
At
31.12.21
At1.1.21
Unrestricted fund8
General fund
276,065
255,876
531,941
Restricted funds
Restricted funds
WAGEfund
8ur5ary fund
3.379
125.000
59,123
6,374
134.4821
117.0351
9,753
90,518
42,088
187,502
145,1431
142,359
TOTAL FUNDS
463,567
210,733
674,300
Corllparative net movement in funds, included in the above are as follows..
Incorning
resources
Resources
expended
Movement
infunds
Unrestricted fund8
General fund
1,100,908
1845,0321
255,876
Restricted funds
Restricted funds
WAGEfund
8ur5ary fund
7.500
57,818
67,572
11,1261
192.3001
184.6071
6.374
134.4821
117.0351
132,890
1178,0331
145.1431
TOTAL FUNDS
1,233,798
11,023,065)
210,733
Page 20
continued...

WORKAVENUE.
THE WORK AVENUE FOUNDATION
NOTES TOTHE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER2022
19.
RELATED PARTY DISCLOSURES
Included in other debtors is an amount of e790,32512021-. £790,325) owed by We Hub Building, a charity with
Common trustees.
In April 2016 the charity entered into a 25 years commercial operating lease agreernent with an LLP. a trustee
of the charity 15 a designated rnernber of the LLP with significant influence. During the year the charity was
charged a total of £132,000 12021..£111,2691 for the lease of the building. At the year end the balance
outstanding was el 99,874 12021.. 74,4781. The total amount payable un(Jer the operating lease have been
disclosed in note 16 above.
Page 21