Trustees’ annual report and financial statements
for the year ending 31 December 2022 for
Foot Works
(a Charitable Incorporated Organisation, registered number 1170280)
Contents UPDATE PAGE NUMBERS IF NEEDED
| Page | |
|---|---|
| Reference and administrative details | 3 |
| Trustees’ annual report | 4 |
| Structure, objects and public benefit | 4 |
| Background and activities | 4 |
| 2022 Review | 5 |
| Future plans | 5 |
| Financial review | 5 |
| Reserves policy | 5 |
| Structure, governance and management | 6 |
| Statement of trustees’ responsibility | 6 |
| Statement of Financial Activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9-14 |
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Reference and administrative details
Chair (& trustee) Richard Cooper Trustee Ann Hope Trustee Alan Morton (resigned 20/2/23) Registered name Foot Works Charity registered number 1170280 Registered address 30 Wilmot House, 5 George Mathers Road, London, SE11 4BQ Bank CAF Bank Limited, 25 Kings Hill Avenue, West Malling, Kent, ME19 4JQ
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TRUSTEES’ ANNUAL REPORT
Structure, objects and public benefit
Foot Works is Charitable Incorporated Organisation registered with the Charity Commission (registered number 1170280).
The governing document is a Constitution dated 16 November 2016. Foot Works registered with the Charity Commission on 21 November 2016.
The objects of Foot Works, as stated in the Constitution, are, for the public benefit:
To relieve financial hardship of, and preserve, protect and improve the health of homeless people and individuals living in adverse housing conditions by providing podiatry and other healthcare services.
In setting objectives and planning activities, the trustees confirm that they have complied with their duty under Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Background and activities
What is Foot Works?
Foot Works is a registered charity providing a free integrated podiatry and foot care service for homeless men and women.
Why does Foot Works exist?
Homeless men and women typically walk miles each day to access support, services and to fulfil basic needs. Foot health is often overlooked; with people wearing pre-worn, poor quality & ill-fitting shoes and having limited opportunity to remove socks and shoes to enable feet to dry, heal and recuperate; resulting in sores, infection, pain and discomfort. In addition, there is limited NHS provision and private podiatry consultations are unaffordable. Foot Works fills this important gap and need.
What does Foot Works provide?
Foot Works provides free podiatry consultations through a dedicated team of volunteer qualified podiatrists, offering the same level of care provided by regular private and outpatient podiatry clinics.
Foot Works can also provide patients with a pathway to local mainstream NHS services when necessary.
Through the generous support of our partners we can also provide brand new high-quality shoes and socks when needed.
Where does Foot Works work?
Foot Works delivers its service in partnership with established organisations supporting homeless communities. Foot Works’ main partner is the Webber Street Day Centre (Waterloo, SE1), previous partners have included Whitechapel Mission (E1) and Crisis Skylight (E1).
2022 Review
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Foot Works’ main priority for 2022 was to re-open its core services after COVID, with services recommencing at the Webber Street Day Centre on 1 March 2022.
[comment on achievements]
Future plans
Foot Works’ main priority for 2023 is to consolidate the service at the Webber Street Day Centre and reestablish provision of services with partners at other locations.
Financial review
Foot Works received £12 (2021: £nil) of income during the year. Expenditure amounted to £1,832 (2021: £580). A more detailed breakdown of expenditure is provided on page 7.
During the year Foot Works recorded a deficit of £1,820 (2021: deficit of £580).
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
Reserves policy
At 31 December 2022, unrestricted free reserves amounted to £4,694 (2021: £6,515).
The trustees have set a reserves policy whereby the free reserves (unrestricted funds) held by Foot Works should be equivalent to £2,500 (2021: £2,500). This is sufficient for the charity to continue to operate, at the current service level, in the short-to-medium term.
Whilst this is above the reserves policy target, the trustees consider this level acceptable in the context of the current environment, maturity of the charity and unpredictable timing of donations & grants. The trustees note that the additional funds above the reserves policy target will give extra flexibility in considering future investment in growth.
Restricted reserves amount to £7,621 (2021: £7,621) pertaining to The Funding Network grant to fund expansion costs.
Structure, governance and management
Foot Works is constituted as a Charitable Incorporated Organisation and governed by a Constitution which took effect on 21 November 2016, the date of registration with the Charity Commission.
The governing body of the charity is the board of trustees, which, as at 31 December 2022, comprised three (2021: three) members. Trustees as at the date of this report or who served during the period were:
Richard Cooper Ann Hope Alan Morton (resigned 20/2/22)
Trustees are appointed by a resolution passed at a meeting of the charity trustees. In selecting new trustees, the trustees considers the skills, knowledge and experience needed for the effective running of the charity. Prior to appointment new trustees will be provided with a copy of the Constitution, a copy of the Trustees’ annual report and financial statements, together with other relevant information.
Foot Works is run by its Trustees who, in addition to strategy and governance, coordinate the weekly
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clinics led by volunteer qualified podiatrists.
Statement of trustees’ responsibility in relation to the financial statements
Charity law requires the charity trustees to prepare financial statements for each accounting period which give a true and fair view of the state of affairs of the charity for the income and expenditure for the period. In preparing the financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Statement of Financial Activities (incorporating an income and expenditure account) for the year ending 31 December 2022
| Notes Income from: Grants Donations Bank interest Total Income 8 Expenditure on: Equipment, consumables, footwear Volunteer expenses Insurance Volunteer welfare Client grant Depreciation Bank fees Total Expenditure Net Income Transfers between funds Total recognised gains/losses Net movement in funds Reconciliation of funds 8,9 Total funds brought forward Total funds carried forward |
2022 Unrestricted Funds 2022 Restricted Funds 2022 Total 2021 Total £ £ £ £ - - - - - - - - 12 - 12 - |
|---|---|
| 12 - 12 - 403 - 403 741 400 - 400 - 505 - 505 478 89 - 89 - 354 - 354 - - - - - 81 - 81 96 |
|
| 1,832 - 1,832 580 |
|
| (1,820) - (1,820) (580) - - - - - - - - |
|
| (1,820) - (1,820) (580) |
|
| 6,515 7,621 14,136 14,716 |
|
| 4,694 7,621 12,315 14,136 |
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Balance Sheet for Foot Works at 31 December 2022
| Notes Fixed assets: Tangible fixed assets 5 Total fixed assets Current assets: Stocks Debtors 6 Cash Total current assets Liabilities: Creditors: amounts falling due within 1 year 7 Net current assets Total net assets The funds of the charity: Restricted income funds 8,9 Unrestricted funds Total charity funds |
2022 Total Funds £ 2021 Total Funds £ - - |
|---|---|
| - - - - - - 12,315 14,613 |
|
| 12,315 14,613 - (477) |
|
| 12,315 14,136 |
|
| 12,315 14,136 |
|
| 7,621 7,621 4,694 6,515 |
|
| 12,315 14,136 |
The notes on pages 9 to 15 form part of these accounts.
The accounts were approved by the board of trustees on 1 March 2023.
Richard Cooper, on behalf of the trustees
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Notes to the financial statements
1. Basis of preparation and accounting policies
Basis of preparation
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a) These accounts (financial statements) have been prepared under the historic cost convention, on a going concern basis, with items recognised at cost or transaction value, unless otherwise stated in the relevant note(s), in accordance with:
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(i) The Charities Act 2011
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(ii) The Financial Reporting Standard applicable in the UK and the Republic of Ireland, published on 16 July 2014
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(iii) Accounting & Reporting by Charities: Statement of Recommended Practice (Charities SORP FRS102) (effective January 2015)
to comply with the revised layout of the financial statements required by the Charities SORP (FRS102).
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b) The charity meets the definition of a public benefit entity as defined by FRS 102.
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a) The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. This included giving due consideration to the impact of the Covid-19 pandemic on income and expenditure as well as its long-term effect on the charity.
Accounting policies
- c) Fund accounting
Unrestricted funds are those that can be expended at the discretion of the trustees in the furtherance of the objects of the charity.
Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes.
The purposes of the funds are shown in Note 8.
- d) Income
Income is recognised and included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income, receipt is probable and the monetary value can be measured with sufficient reliability.
Income that Foot Works has received, but is not entitled to recognise, is treated as deferred income.
Bank interest and Gift Aid is recognised on receipt.
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e) Expenditure and liabilities
Expenditure is recognised on the accruals basis. The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged.
Liabilities are recognised as soon as there is a legal or constructive obligation to pay.
Governance costs include the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
f) Tangible fixed assets
Tangible assets are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at their value on receipt.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
| Podiatry equipment | 3 years |
|---|---|
| Computer equipment | 3 years |
| Office equipment | 5 years |
| Fixtures and fittings | 5 years |
Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
The charity does not currently have any capitalised tangible fixed assets.
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g) Current assets and liabilities
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(i) Debtors are recognised at the settlement amount due.
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(ii) Prepayments are valued at the amount prepaid.
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(iii) Cash comprises bank deposits repayable on demand and any short-term highly liquid deposits
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(iv) Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount, usually the invoice amount.
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(v) Accrued charges are normally valued at their settlement amount.
h) Taxation
The charity is not liable to income tax or capital gains tax on its charitable activities.
- i) Pensions
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Foot Works does not operate a pension scheme.
2. Employees
Foot Works did not employ any staff during the period (2021: 0). No employees earned over £60,000 per year during the period (2021: 0).
3. Trustees’ remuneration, benefits and expenses
During the period one trustee (2021: one) incurred expenses of £111 of expenses (2021: £477) on behalf of the charity.
No trustees were paid any remuneration or received any other benefits from employment with the charity (2021: none, £nil).
4. Related party transactions
With the exception of the amount outlined in 3. above, during the period there were no related party transactions.
5. Tangible fixed assets
| Cost Opening balance Additions during the year Closing balance Accumulated depreciation Opening balance Charge for the year Closing balance Net book value at 31 December 2022 Net book value at 31 December 2021 |
Podiatry equipmen t £ Total £ 1,200 1,200 - - |
|
|---|---|---|
| 1,200 1,200 1,200 1,200 - - |
||
| 1,200 1,200 - - - - |
2021 Comparative
| Cost Opening balance Additions during the year Closing balance Accumulated depreciation |
Podiatry equipmen t £ Total £ 1,200 1,200 - - |
|
|---|---|---|
| 1,200 1,200 |
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| Opening balance Charge for the year Closing balance Net book value at 31 December 2021 Net book value at 31 December 2020 |
1,200 1,200 - - |
|
|---|---|---|
| 1,200 1,200 - - - - |
6. Debtors
| Trade debtors Prepayments and accrued income Other debtors Total |
2022 £ 2021 £ - - - - - - |
|
|---|---|---|
| - - |
7. Creditors: amounts falling due within one year
| Creditors Accruals Deferred income Total |
2022 £ 2021 £ - 477 - - - - |
|
|---|---|---|
| - 477 |
8. Restricted funds
During the period Foot Works received no restricted income during the year (2021: £nil).
The movement in restricted funds during the period and fund balances at the end of the period are outlined below:
| Balance at 31 December 2021 £ Income £ Expenditure £ The Funding Network 7,621 - - |
Balance at 31 December 2022 £ 7,621 |
|---|---|
2021 Comparative:
| Balance at 31 December 2020 £ Income £ Expenditure £ The Funding Network 7,860 - 239 |
Balance at 31 December 2021 £ 7,621 |
|---|---|
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9. Analysis of net assets between funds
| 2022 Restricted Funds £ 2022 Unrestricte d Funds £ 2022 Total Funds £ Tangible fixed assets - - - Current assets 7,621 4,694 12,315 Creditors: amounts falling due within 1 year - - - Total 7,621 4,694 12,315 |
2022 Restricted Funds £ 2022 Unrestricte d Funds £ 2022 Total Funds £ Tangible fixed assets - - - Current assets 7,621 4,694 12,315 Creditors: amounts falling due within 1 year - - - Total 7,621 4,694 12,315 |
2021 Total Funds £ - 14,613 (477) |
|---|---|---|
| 7,621 4,694 12,315 |
14,136 |
2021 Comparative:
| 2021 Restricted Funds £ 2021 Unrestricte d Funds £ 2021 Total Funds £ Tangible fixed assets - - - Current assets 7,860 6,753 14,613 Creditors: amounts falling due within 1 year (239) (239) (477) Total 7,621 6,515 14,136 |
2021 Restricted Funds £ 2021 Unrestricte d Funds £ 2021 Total Funds £ Tangible fixed assets - - - Current assets 7,860 6,753 14,613 Creditors: amounts falling due within 1 year (239) (239) (477) Total 7,621 6,515 14,136 |
2020 Total Funds £ 400 13,607 - |
|
|---|---|---|---|
| 7,621 6,515 14,136 |
14,716 |
2021 Comparative
Statement of Financial Activities (incorporating an income and expenditure account) for the year ending 31 December 2021
| Notes Income from: Grants Donations Total Income 8 Expenditure on: Equipment, consumables, footwear |
2021 Unrestricted Funds 2021 Restricted Funds 2021 Total 2020 Total £ £ £ £ - - - - - - - 3,500 |
|---|---|
| - - - 3,500 - - - 741 |
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| Session fees Insurance Volunteer welfare General expenses Depreciation Bank fees Total Expenditure Net Income Transfers between funds Total recognised gains/losses Net movement in funds Reconciliation of funds 8,9 Total funds brought forward Total funds carried forward |
- - - 1256 239 239 478 743 7 - 7 8 - - - - - - - 400 96 - 96 60 |
|---|---|
| 341 239 580 2,791 |
|
| (341) (239) (580) 709 - - - - - - - - |
|
| (341) (239) (580) 709 |
|
| 6,856 7,860 14,716 14,007 |
|
| 6,515 7,621 14,136 14,716 |
2021 Comparative
Balance Sheet for Foot Works at 31 December 2021
| Notes Fixed assets: Tangible fixed assets 5 Total fixed assets Current assets: Stocks Debtors 6 Cash Total current assets Liabilities: Creditors: amounts falling due within 1 year 7 Net current assets Total net assets |
2021 Total Funds £ 2020 Total Funds £ - - |
|---|---|
| - - - - - - 14,613 14,716 |
|
| (477) - |
|
| 14,136 14,716 |
|
| 14,136 14,716 |
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| The funds of the charity: Restricted income funds 8,9 Unrestricted funds Total charity funds |
7,621 7,860 6,515 6,856 |
|---|---|
| 14,136 14,716 |
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