Fabric Foundation Limited **FABRIC** Foundation Ltd (A company limited by guarantee) Report and Financial Statements For the Year Ended 31 January 2021 Charity number 1168833 Company number 09390907 Fabric Foundation Limited ## **FABRIC** Foundation Ltd (A company limited by guarantee) ## Financial Statements For the Year Ended 31 January 2021 **Contents Page** Charity Information 2 Trustees Report 3 Accountants report 13 Statement of Financial Activities 14 Balance Sheet 15 Notes to the financial statements 16-21 Fabric Foundation Limited **FABRIC.** Foundation Ltd Report of the Management Committee for the year ended 31 January 2021 ## **Reference and Administrative Information** Charity Name: FABRIC Foundation Ltd Charity registration number: 1168833 Company registration number: 09390907 Registered Office: ## **Trustees** Dylan Jones-Evans Angharad Bridget Coleman Maria Patricia Bradley Julia Perry ## **Accountants** Gower Accounting Services 1 Beattie Street Cwmdu Swansea ## **Bankers** Natwest Bank Fabric Foundation Limited The Trustees present their report and financial statements for the year ended 31 January 2021. Reference and administrative information set out on page 2 forms part of this report. The financial statements comply with the current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities. ## **Structure, Governance and Management** The organisation is a Community Interest Company limited by guarantee, incorporated on 15 January 2015, and registered as a charity on 19 August 2016. ## **Governing document** The company was established under a Memorandum of Association (amended 20 May 2016) which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £2. Recruitment and appointment of trustees, induction and training. The trustees carry out a skills audit prior to recruiting new trustees. Role descriptions and job specifications are drawn up and a search programme undertaken. All new trustees are required to accept the organisation's code of conduct that contains details of the number of board meetings and the number of projects they are required to attend throughout the year. In addition a structured induction programme has been devised to enable trustees to more quickly understand the structure and culture of the organisation. Further training for trustees is to be considered following enlargement of the trustee body and a trustee training needs analysis. ## **Organisational structure** The trustees are responsible for the overall management of the charity, its strategic direction and decision making. However, day-to-day management of treatment, non-treatment services and business services is delegated to the Chief Executive and senior management team. ## **Risk assessment and management** Fabric Foundation Limited The trustees have overall responsibility for ensuring that the charity has appropriate systems of control; both financial and operational; for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity; for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The systems of internal control are designed to provide reasonable assurance that: The charity is operating efficiently and effectively in the pursuit of its objectives; - Funds are applied in accordance with the intentions of the funder; - Its assets are safeguarded against unauthorised use or disposition; - Proper records are maintained and financial information used within the charity or for publication is reliable; - The charity complies with relevant laws and regulations. They are also designed to provide reasonable, but not absolute assurance against material misstatement or loss. ## **Aims** Our charity's aims as set out in the objects contained in the company's memorandum of Association are to: ## _**'advance in life and relieve needs of young people across South and West Wales through**_ ## _**(a) The provision of semi-independent living with 24-hour support/or 16-17 year old looked after children and care leavers**_ _**(b) Provide support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature responsible individuals.'**_ A selection of fundraising activities that were undertaken in 2020-21: Fabric Foundation Limited ## **Activities** During the last financial year FABRIC has undertaken many activities these can be split into COVID-19 Related activities and general activities. ## **COVID-19 Related.** When COVID hit Team FABRIC knew the additional stresses of these would impact on our young people. We fundraised money to undertake additional therapeutic activities with our FABRIC Kids. - Bath Bomb Making - Lock Down Garden Painting Fabric Foundation Limited - Gardening/growing strawberries - Team FABRIC also provided survival kits to our previous FABRIC Kids through collaboration with local third sector organisation- The Include Hub Fabric Foundation Limited - During the COVID-19 Pandemic FABRIC ran a food bank for previous FABRIC Kids, care leavers, homeless and young people in need across Swansea Fabric Foundation Limited ## General Activities - Team FABRIC ensured we provided Easter treats to our FABRIC Kids and previous FABRIC Kids to keep spirits up Fabric Foundation Limited - Cooking sessions with items from Fareshare delivery including ‘Nando’s Night’, ‘Breakfast Mornings’ and ‘Friday Fri Ups’ Fabric Foundation Limited - Team FABRIC also celebrated big events in the calendar making them special with parties and gifts. Fabric Foundation Limited - Days out- when we were able we did trips such as bowling - Local Community Support. FABRIC is committed to supporting it’s local community and when there was flooding in the area Team FABRIC opened it’s foodbank up to affected people. Fabric Foundation Limited WE HAVE SEEM FROM OUR SOCIAL MEDIA THIS WEEK THAT THERE ARE LOTS OF HOMES IN SKEWEN AFFECTEO BY THE FLOODS. FOODBANK@CARELEAVERS.COMMUNITY Fabric Foundation Limited ## **Statement of responsibilities of the trustees** The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the group and charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to: - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the companies Act 2006 and the Charity (Accounts and Records) Regulations. They are responsible for safeguarding the assets of the Charity and take reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on and signed on its behalf by ## Angharad Bridget Coleman - Chairperson Fabric Foundation Limited ## **Report of the Accountants to the directors of Fabric Foundation Ltd** As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2021 set out on pages eight to thirteen and you consider that the company is exempt from an audit. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. Cheryl Parkhouse ACA Gower Accounting Services 1 Beattie Street Cwmdu Swansea SA5 8HF Fabric Foundation Limited 4131 P2 Fabric Foundation Limited For the financial year ending 31st January 2021 the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small businesses. No trustees have required the company to obtain an audit of it accounts for the year ending 31st January 2021 in accordance with section 476 of the Companies ACt 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These financial statements were approved by the Management Committee and authorised for Issue on 06.06.21 and signed on Its behalf by : Angharad Bridget Coleman Fabric Foundation Limited Notes to of the Flnanclal Statements for the ¥ear en¢bed 31 J anuary 2021 Basss of weparatlon Basls of accountSng ese accounts have bee) r&J undw the historical cost convwtion with Itens re£ C05t or tr￿n￿tIon value unle55 QtheYw15e 5tstd In the rdewant note5 to tkE5e atcovnts. nised at The tKcovnts have beeD Drepored In ￿￿rdarKe with trE of . F*actice.' Accountinq and Reportinq bv Chariti¥ w￿rIn0 thgr in ¥cordance byilh the Financial Reportinq Standard applicable in the UK atvj RewNic of Irdatvj IFRS 1021 is5￿ on 161 ulv 2014 And with the Financial RqK>rts￿ StatKlard I reland IFRS 1021 liGIt￿e in the United knngdorn and Re￿t￿l( of And ¥vith the Charitses Act 2011. Accountlnq Pollcles Incom* [R￿00n1t1Qn of Income. Thtse are Included in ri£slatw￿Lof Fify3n¢i•l kDyities (SOFA). wh Icharitv becomes entidEYJ to the r￿ur(￿. IGrants and Donatiorbs. Grants aTKJ donation5 are only Ind￿ in the S-FA v1h￿ the a￿al itKOTr recoqnition crireria 8re m& 15.10 to 5.12 FRS 102 SORPI ExpEnditure and liabilities Lialmlitv rec0unltiL￿. Liabilibe5 are rerOqnis￿ it 15 trK)re likdv mt th6t thve is a leoal or constructina obliqation cornmittyno the chantv to Day OLrt re50urce5 and the arrount of the obliqation can be rrE65ured with rea50rbable certainty. .Grants with oerforff*nce coThJitsof6 Grants without wforrTh3rKe condition5 Assets Tan4Sble fixed assets frjr use Inf the charfty ¥e caDra11￿ If te for rTh)r than one vear. They are di5cIosal at cost le55 ￿Cu￿￿11ataI d￿latiOn. Freehold property. Freehold Dropertv 15 reval￿ Wh￿ there 15 a rnatsrial differtYKe b&ween the carryinQ value and readily asctrtainable rr*rket valLt. wh￿ DrO￿Y is Irevaluffl dosynward. the1955 15 wntten off re5ffve5. IReDairs. rnaintenarte and inscethon cosrs are exrw6e5 as irKurraJ. DeDreciation has been orovided atthe followirn rate5 in order to off the assets ovw thwr iestimated usdul È(oTh)rric lives. hold I Not pr Vehicle5 & equiptrwt Striqht lirE 3 yeaT5 and 10 year5. Fabric Foundation Limited The average nu￿￿er of employee5 the yw was Dil (2020 Dil other IrKome 2021 Toial 2020 Total R¥)ts ¢ec¢yve# IB.000 18.OOD .Don3botts reteiv¥J 4.124 4.124 4.120_ Charitable acivi Fiever5al of irnQalrn￿t of ￿qltIe fixed &set5 30.000 52.120 43.499 43.499 2021 Tatai 2020 T¢btsl Administrabon SUDL¥)rt C05ts Total ￿OUrCeS exDwd 39.192 39.192 24.950 24.950 Ilet InCOn￿n￿ Re￿i￿Vre5 forthe Yeir 2021 Total 2020 Ttstal Deore¢i8ti4n Accountsnty SeThlces 6098 2360 6762 600 Fabric Foundation Limited bthar AT l Febwy 2Q 254.14T Bt s11￿￿V At l Febrknary 235.126 31 247552 6.Dlg Tth 275.619 Tt¢¥ Fabric Foundation Limited 12. Z021 T*)tsl k OthEr￿a￿S T¢ 29& 292.23$ iy. Gerwal .43.499 Janu4ri 2021 AtAF•b fvnds 43. L963 15. Finwai $￿th>t was ty¢￿0¢￿ b¥ 14VIA FifiW¥¥*5 tOX¢vJi*è N¢O*Y. ￿A*￿tr ￿￿￿Y￿￿FABpjc ifitere5lfreew￿th GDyernn￿1tl0a￿. Fabric Foundation Limited Detaknl Statement of Financial Actwities l ￿Ome & Expenditure Auourtl for the ,Year endinq 31st J anuary 2021 2021 Total 2020 Total I ncome Other I ncome Rents recenied Donat￿nS Other income Derx)srt account interest Reversal of impaiment of tar￿1￿￿ tsed assets 18,0007 18,0001 43.499 52.121, Expendlture Insurance Repairs to Advertsinq Motor & travellinq Books for traininq Awards ,YP Service lyp oym membershiD YP addit￿nal attwites Computer costs Sundry exper￿e5 Staff trainin Accounta Bad debts De￿eCiatK>n of tanoit* frAed asseL_ Fixtures aryl fttw)os Motor Veh￿￿5 Comtwter equwhenl 2.231 2.302 117 393 16,171 91 2.160 1.152 4.056 410 396 600 1.033 5,299 430 18,8051 5,399 699 33.423 Finance Costs Bank Charqes Bank loan interest Hire ￿rChaSe 245 5.900 5.699 NET SURPLUSI IDEFICIT) FOR PERIOD 4.377 27.171