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2022-12-31-accounts

Companies House Registration Number: CE011227 Charity Registration Number: 1173688

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Fat Macy's Foundation

(A Charitable Incorporated Organisation)

Green Accountancy Limited Association of Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX

Fat Macy's Foundation

Contents

Charity information 1
Report of the trustees 2-6
Independent examiner's report 7
Statement of Financial Activities 8
Balance Sheet 9-10
Notes to the Financial Statements 11-20

Fat Macy's Foundation

Reference and administrative details

Registered Charitable Incorporated Organisation number in England and Wales

CE011227

Registered Charity number

1173688

Registered office

232 Shoreditch High Street London E1 6PJ

Trustees

Steffen Hoyemsvoll Edward Mbaraga Debbie Jackson Iona Popat Christopher Attoe Anne-Marie Twumasi Anthony Dawes

Independent Examiner

David Wilsdon FCCA Association of Chartered Certified Accountants Green Accountancy Limited Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX

Page 1

Fat Macy's Foundation

Report of the trustees for the year ended 31 December 2022

The trustees present their report with the financial statements of the charity for the period ended 31 December 2022.

The trustees have adopted the provisions of 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) (Second Edition effective 1 January 2019).

Fat Macy’s Foundation is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission (registered number 1173688).

The governing document is a Constitution dated 5th July 2017. The Fat Macy’s Foundation registered with the Charity Commission on 5th July 2017.

These financial statements cover the year from 1st January 2022 to 31st December 2022.

Objectives and activities

Objectives

The Fat Macy's Foundation is a charity which works with Londoners living in temporary and hostel accommodation. It provides training and housing deposits for those experiencing homelessness. The Fat Macy's Foundation provides training in catering, hospitality and food hygiene, alongside wraparound holistic support in wellbeing, employability and tenancy sustainment.

The Fat Macy’s Foundation exists to work for the relief of poverty, in particular of those currently living in temporary accommodation, homeless hostels and housing associations by the provision of practical advice, catering training, emotional wellbeing support and grant funding for housing deposits.

Activities

Outreach

We have a small outreach team who create connections with people living in temporary accommodation and tell them about our programme. We are able to meet typically “hard to reach” groups by directly meeting them in hostels and temporary accommodation sites to ensure we get referrals into our programme.

Page 2

Fat Macy's Foundation

Report of the trustees for the year ended 31 December 2022

Training Academy

The Fat Macy’s Training Academies act as a trainee recruitment funnel. They begin with a Sign Up Day after we receive a referral, in which prospective trainees are introduced to Fat Macy’s and participate in confidence-building exercises, designed to identify their personal strengths. They meet the team and get a tour of the building. The day culminates in participants taking their Level Two Food Hygiene Qualification.

Those who complete the Sign Up Day and pass their Level Two Food Hygiene Qualification are invited to the next three days of our Training Academy, where they complete a three day trial sessions where they learn practical skills covering everything from food hygiene, knife skills, barista training, confidence building to exploring our Middle Eastern menu. These sessions are led by our Fat Macy’s Ltd team in collaboration with our charity.

Trainees also put their skills into action and learn the ropes by spending the day in our restaurant, preparing food in our kitchen and serving customers.

Those who complete the trial period are invited to join the Milestone Programme.

Milestone Programme

The Fat Macy’s Milestone Programme is a 200-hour work experience placement at Fat Macy’s Ltd. After 200 hours, and providing they meet certain other conditions, Fat Macy’s will provide a housing deposit on the trainee’s behalf to a private rented landlord.

The Milestone Programme covers a range of on-the-job training opportunities. For some this is serving at our restaurant, for others this could be prepping in our kitchen; either way our aim is to expose them to the full breadth of the hospitality industry.

As trainees complete time-based milestones (at 50, 100, 150 hours) they are eligible for Milestone Rewards - small grants to cover the essentials in their journey to independent living. These can range from photographic identification, a month’s travel pass, interview clothing, or a UK passport. They give trainees the tools to open bank accounts and start part-time jobs, and help them towards a secure future.

Support Curriculum

Alongside the Milestone Programme, trainees receive one-to-one support with our Progression and Engagement Officers, and can participate in tailored sessions from our Support Curriculum.

The Support Curriculum is a bespoke tool which provides a series of resources and focuses on employment, housing and wellbeing. Our tailored support curriculum spans a broad range of help, including benefits claims, job interview preparation and budgeting exercises.

Page 3

Fat Macy's Foundation

Report of the trustees for the year ended 31 December 2022

Achievements and performance

Highlights and Impact

The highlight of 2022 was moving to a new restaurant site, Sohaila, at 232 Shoreditch High Street. This officially opened in January 2022, and we closed the original site in Victoria. The combination of having restaurant space and office space in the same building had a transformative impact on our ways of working.

Our year in numbers:

We hired a third Progression and Engagement Officer in December as we expanded our numbers. Our board remained constant.

We received a series of grants to cover running costs and direct payments to trainees during the pandemic. This includes funding from the Paul Hamlyn Youth Fund, the City of London trust, and the Maria Marina Foundation.

Awards/press

2022 saw some great press for Fat Macy’s - Jay Rayner reviewed the Sohaila restaurant in the Observer alongside other press mentions.

Page 4

Fat Macy's Foundation

Report of the trustees for the year ended 31 December 2022

Structure, governance and management

The Fat Macy’s Foundation works in partnership with Fat Macy’s Ltd.

The Fat Macy’s Foundation runs the Fat Macy’s Training Academy in hostels, which provides training opportunities for young people living in hostel accommodation. People who complete this programme are recommended to Fat Macy’s Ltd to begin the Milestone Programme, to gain real life experience. This Milestone Programme is a combination of work experience, employability support, 1-1 support and small grants to cover necessary items, to ensure that trainees are in a much better position to access the work and housing markets at the end of their traineeship.

Fat Macy’s Ltd donates a share of all profits to the Fat Macy’s Foundation. This amount is used by the Fat Macy’s Foundation as a grant and housing deposit fund. We provide small grants to trainees to secure a housing deposit, forms of photo identification and birth certificates, and clothing and travel vouchers. We are in the process of ensuring the Fat Macy’s Foundation has a golden share in Fat Macy’s Limited, to ensure we are transparent with our business and charitable works.

Fat Macy’s Ltd is a social business and as such, its social mission is integral to its operations. There is no personal benefit to the directors of Fat Macy’s Ltd in using trainees. The trainees are the target group that Fat Macy’s Ltd seeks to help through training, work experience and access to grants. Fat Macy’s Ltd has its social mission written into its governing documents.

The trustees of the Fat Macy’s Foundation have regular contact with the directors of Fat Macy’s Ltd to ensure their work is aligned. The trustees are independent, separate from Fat Macy’s Ltd and are free to make their own decisions on all matters outside the scope of the arrangements with Fat Macy’s Ltd.

The board of trustees is responsible for overseeing all aspects of governance and risk. Strategy is led by the board of trustees, working closely with the staff team. The staff team, comprising Meg Doherty (Founder and Chief Executive) and Tori Western (Delivery and Impact Lead) is responsible for the implementation of the strategy and day-to-day operations of the charity. We have a wider team of four staff who have key responsibilities in the work we do.

Trustees are appointed by a resolution passed at a meeting of the charity trustees. In selecting new trustees, the trustees consider the skills, knowledge and experience needed for the effective running of the charity. Prior to appointment, new trustees are provided with a copy of the Constitution and policies and procedures, together with the most up-to-date business plan and financial statements and forecasts.

Page 5

Fat Macy's Foundation

Report of the trustees for the year ended 31 December 2022

Financial review

The Fat Macy’s Foundation received £210,000 (2021: 191,000) in income during the year 2022, with £171,000 from grants and trusts, and £38,000 from Fat Macy’s Ltd and other small charities for desk space.

Total expenditure amounted to £212,000 (2021: £319,000) which was reduced as the renovations had been completed.

Reserve policy

The Fat Macy’s Foundation is committed to keeping reserves of £60,000 per annum. We will review this figure annually as we grow.

The trustees have set a reserves policy whereby the free reserves (unrestricted funds) held by the Fat Macy’s Foundation should be equivalent to three months’ staff and operating costs, which equates to £20,000 per month (2019: £18,000).

As at 31st December 2022, free reserves amounted to £22,000 and we will seek to grow this over 2023.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's 04/10/2023 behalf by:

Steffen Hoyemsvoll - Trustee

Page 6

Independent Examiner's Report to the Trustees of Fat Macy's Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's trustees of the charity (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 Charities Act 2011 ('the 2011 Act').

Having satisfied myself that the accounts of the charity are not required to be audited 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.

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:

1 accounting records were not kept in respect of the charity as required by the 2011 Act; or

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.

David Wilsdon FCCA Green Accountancy Limited Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX

28/09/2023 Date: .............................................

Page 7

Fat Macy's Foundation

Statement of Financial Activities for the year ended 31 December 2022

Unrestricted
funds
Note
£
Incoming resources
Income and endowments from:
Donations and legacies
3.1
57,899
Charitable activities - income
3.2
20,780
Other trading activities
3.3
38,968
Investment income
3.4
30
Total Income
117,677
Resources expended
Expenditure on:
Charitable activities - expenditure
4.2
146,250
Leasehold renovation costs
559
Total expenditure
146,809
Net income/(expenditure)
(29,132)
Net movement in funds
(29,132)
Reconciliation of funds:
Total funds brought forward
50,596
Total funds carried forward
21,464		 Unrestricted
funds
Note
£
Incoming resources
Income and endowments from:
Donations and legacies
3.1
57,899
Charitable activities - income
3.2
20,780
Other trading activities
3.3
38,968
Investment income
3.4
30
Total Income
117,677
Resources expended
Expenditure on:
Charitable activities - expenditure
4.2
146,250
Leasehold renovation costs
559
Total expenditure
146,809
Net income/(expenditure)
(29,132)
Net movement in funds
(29,132)
Reconciliation of funds:
Total funds brought forward
50,596
Total funds carried forward
21,464		 Restricted
funds
£
92,523
-
-
-		 Total
2022
£
150,422
20,780
38,968
30		 Total
2021
£
156,288
24,448
10,770
59
117,677 92,523 210,200 191,565
146,250
559		 67,406
-		 213,656
559		 195,129
123,962
146,809 67,406 214,215 319,091
(29,132) 25,117 (4,015) (127,526)
(29,132)
50,596		 25,117
37,498		 (4,015)
88,094		 (127,526)
215,620
21,464 62,615 84,079 88,094

Continuing operations

All income and expenditure has arisen from continuing activities.

Page 8

Fat Macy's Foundation

Charity Number 1173688

Balance Sheet as at 31 December 2022

CIO Number CE011227

Unrestricted Restricted
funds
funds
Note
£
£
Fixed assets
Tangible assets
5
21,464
-
Total fixed assets
21,464
-
Current assets
Debtors
6
45
-
Cash at bank and in hand
7
7,109
62,615
Total current assets
7,154
62,615
Creditors: amounts falling due within one year
8
7,154
-
Net current assets/(liabilities)
-
62,615
Total net assets
21,464
62,615
Funds of the Charity
Unrestricted funds
10
21,464
-
Restricted income funds
10
-
62,615
Total funds
21,464
62,615		 Total
2022
£
21,464		 Total
2021
£
28,490
21,464 28,490
45
69,724		 3,993
72,784
69,769
7,154		 76,777
17,173
62,615 59,604
84,079 88,094
21,464
62,615		 50,596
37,498
84,079 88,094

The financial statements were approved by the Board of Trustees and authorised for issue on …................. and were signed on its behalf by: 04/10/2023

.............................................

Steffen Hoyemsvoll Trustee (Director)

Page 9

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

1 Basis of preparing the financial statements

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

• the Charities SORP (FRS 102) '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 1 January 2019)',

The charity is a Charitable Incorporated Organisation and constitutes a public benefit entity as defined by FRS 102.

2 Accounting Policies

Income

Income is included in the Statement of Financial Activities (SoFA) when:

Income from membership subscriptions

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Grants and donations

Grants and donations are included in the SoFA when the general income recognition criteria are met.

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met.

Page 10

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Donated goods

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.

The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.

Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.

Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Donated goods, facilities and services

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Expenditure

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.

Page 11

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Tangible fixed assets

These are capitalised if they can be used for more than one year, and cost at least £200. They are valued at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Kitchen Equipment - 25% Straight Line Basis Motor Vehicles - 25% Straight Line Basis Computer Equipment - 25% Straight Line Basis

Taxation

The charity registered as a charity on 5 July 2017 and since that date has been exempt from corporation tax on its charitable trading 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.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 12

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

The charity has creditors which are measured at settlement amounts less any trade discounts

Pension costs and other post-retirement benefits

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.

Page 13

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

3.1 Income from donations and legacies

Unrestricted
funds
£
Donations from Fat Macy's Ltd
-
Donations received
621
Grants received
57,278
Total donations and legacies
57,899
Unrestricted
funds
Grants included in the above amounts:
£
Maria Marina Foundation
30,000
Brookfield properties
11,278
Brotherton
10,000
EQUIP
4,000
Indigo Wines
2,000
Paddington Development Trust
-
National Lottery
-
Clothworkers
-
YMCALCAN
-
Paul Hamlyn
-
City of London - Mental health trainee fund
-
Crowdfunder Ltd
-
Garfield Weston
-
SSE round two funding
-
PayPal
-
Meanwhile Space
-
CAF
-
Charities Trust
-
Total grants included in donations and legacies
57,278
3.2
Income from charitable activities
Unrestricted
funds
£
Kickstart Grant
20,780
Speaker fees
-
Total income from charitable activities
20,780		 Unrestricted
funds
£
Donations from Fat Macy's Ltd
-
Donations received
621
Grants received
57,278
Total donations and legacies
57,899
Unrestricted
funds
Grants included in the above amounts:
£
Maria Marina Foundation
30,000
Brookfield properties
11,278
Brotherton
10,000
EQUIP
4,000
Indigo Wines
2,000
Paddington Development Trust
-
National Lottery
-
Clothworkers
-
YMCALCAN
-
Paul Hamlyn
-
City of London - Mental health trainee fund
-
Crowdfunder Ltd
-
Garfield Weston
-
SSE round two funding
-
PayPal
-
Meanwhile Space
-
CAF
-
Charities Trust
-
Total grants included in donations and legacies
57,278
3.2
Income from charitable activities
Unrestricted
funds
£
Kickstart Grant
20,780
Speaker fees
-
Total income from charitable activities
20,780		 Restricted
funds
£
7,273
-
85,250		 Total
2022
£
7,273
621
142,528		 Total
2021
£
24,733
-
131,555
57,899 92,523 150,422 156,288
Restricted
funds
£
-
-
-
-
-
4,000
10,000
30,000
5,000
30,000
6,250
-
-
-
-
-
-
-		 Total
2022
£
30,000
11,278
10,000
4,000
2,000
4,000
10,000
30,000
5,000
30,000
6,250
-
-
-
-
-
-
-		 Total
2021
£
-
-
-
2,000
-
-
18,000
-
-
30,000
16,650
51,652
10,000
2,800
152
125
110
66
57,278 85,250 142,528 131,555
Restricted
funds
£
-
-		 Total
2022
£
20,780
-		 Total
2021
£
23,733
715
20,780 - 20,780 24,448

Page 14

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

3.3 Income from other trading activities

Income from other trading activities Income from other trading activities
Unrestricted
funds
£
Desk space
13,975
Rental Income
24,993
Total income from charitable activities
38,968		 Restricted
funds
£
-
-		 Total
2022
£
13,975
24,993		 Total
2021
£
3,270
7,500
38,968 - 38,968 10,770

Page 15

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

4.1 Charitable activities - expenditure

Fat Macy's Foundation provides education and training, and the prevention and relief of poverty, for children, young people and other groups.

Unrestricted
funds
£
Salaries - Gross pay
84,074
Salaries - Employers NI
7,316
Salaries - Pensions
2,861
Kickstart costs
1,011
Grants to volunteers
-
Cooking class costs
645
Trainee Travel
2,863
Trainee expenses
-
Life coach
960
Depreciation Expense
7,598
Rent - Ebury
3,637
Rates - Ebury
1,645
Light, Power, Heating
12,989
Repairs & Maintenance
153
Shoreditch office expenses
2,401
Support costs:
Advertising & Marketing
104
Bank Fees
41
Bloom Fund
-
Cleaning
1,842
Consulting
-
Entertainment
72
Expense claims
185
Insurance
482
Interest paid
68
IT Software and Consumables
14
Motor Vehicle Expenses
1,411
Printing & Stationery
85
Rubbish + recycling
3,138
Staff Training
814
Subscriptions
1,791
(Profit)/loss on disposal of fixed assets
389
Telephone & Internet
2,737
Travel - National
54
Governance
4,870
Total expenditure on charitable activities
146,250		 Unrestricted
funds
£
Salaries - Gross pay
84,074
Salaries - Employers NI
7,316
Salaries - Pensions
2,861
Kickstart costs
1,011
Grants to volunteers
-
Cooking class costs
645
Trainee Travel
2,863
Trainee expenses
-
Life coach
960
Depreciation Expense
7,598
Rent - Ebury
3,637
Rates - Ebury
1,645
Light, Power, Heating
12,989
Repairs & Maintenance
153
Shoreditch office expenses
2,401
Support costs:
Advertising & Marketing
104
Bank Fees
41
Bloom Fund
-
Cleaning
1,842
Consulting
-
Entertainment
72
Expense claims
185
Insurance
482
Interest paid
68
IT Software and Consumables
14
Motor Vehicle Expenses
1,411
Printing & Stationery
85
Rubbish + recycling
3,138
Staff Training
814
Subscriptions
1,791
(Profit)/loss on disposal of fixed assets
389
Telephone & Internet
2,737
Travel - National
54
Governance
4,870
Total expenditure on charitable activities
146,250		 Restricted
funds
£
63,081
-
-
-
3,330
-
-
995
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2022
£
147,155
7,316
2,861
1,011
3,330
645
2,863
995
960
7,598
3,637
1,645
12,989
153
2,401
104
41
-
1,842
-
72
185
482
68
14
1,411
85
3,138
814
1,791
389
2,737
54
4,870		 Total
2021
£
124,652
489
1,939
-
3,864
2,857
3,263
456
1,610
10,325
11,306
227
8,259
4,317
3,549
104
187
-
521
3,054
259
900
642
-
661
1,788
412
382
725
101
-
2,608
173
5,499
146,250 67,406 213,656 195,129

Page 16

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

All support costs are allocated to the single charitable activity of the charity and are included above.

4.2
Governance costs included above
Unrestricted
funds
£
Accountancy and bookkeeping fees
4,174
Independent examination
696
Total governance costs
4,870		 4.2
Governance costs included above
Unrestricted
funds
£
Accountancy and bookkeeping fees
4,174
Independent examination
696
Total governance costs
4,870		 Restricted
funds
£
-
-		 Total
2022
£
4,174
696		 Total
2021
£
4,299
1,200
4,870 - 4,870 5,499

4.3 Trustee remuneration

None of the trustees were remunerated during the year or the previous year.

No trustee expenses were paid during the year

4.4 Staff numbers

Average headcount in the year:
Charitable activities
4.5
Staff costs
Unrestricted
funds
£
Salaries - Gross pay
84,074
Salaries - Employers NI
7,316
Salaries - Pensions
2,861
Total staff costs
94,251		 Average headcount in the year:
Charitable activities
4.5
Staff costs
Unrestricted
funds
£
Salaries - Gross pay
84,074
Salaries - Employers NI
7,316
Salaries - Pensions
2,861
Total staff costs
94,251		 Restricted
funds
£
63,081
-
-		 2022
8		 2021
8
Total
2022
£
147,155
7,316
2,861		 Total
2021
£
124,652
489
1,939
94,251 63,081 157,332 127,080

There were no ex-gratia payments made and no redundancy payments made. There are no staff working for the charity who were paid more than £60,000.

Page 17

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

5 Tangible fixed assets

Kitchen
equipment
£
Cost
At 1 January 2022
17,096
Additions
-
Disposals
-
At 31 December 2022
17,096
Depreciation
At 1 January 2022
6,304
Charge for year
2,698
Eliminated on disposal
-
At 31 December 2022
9,002
Net book value
At 31 December 2022
8,094
At 31 December 2021
10,792
6
Debtors
Unrestricted
funds
£
Trade debtors
-
Prepayments
-
Accrued income
-
Wages Payable - Payroll
45
Total debtors
45
7
Cash at bank and in hand
Unrestricted
funds
£
Current Account
1,986
Savings Account
5,123
Soldo
-
Total cash at bank and in hand
7,109		 Kitchen
equipment
£
17,096
-
-		 Computer
equipment
£
7,180
962
(777)		 Motor
vehicles
£
17,024
-
-		 Totals
£
41,300
962
(777)
17,096 7,365 17,024 41,485
6,304
2,698
-		 2,250
1,709
(388)		 4,256
3,192
-		 12,810
7,599
(388)
9,002 3,571 7,448 20,021
8,094 3,794 9,576 21,464
10,792 4,930 12,768 28,490
Restricted
funds
£
-
-
-
-		 Total
2022
£
-
-
-
45		 Total
2021
£
3,100
594
299
-
45 - 45 3,993
Restricted
funds
£
39,617
22,890
108		 Total
2022
£
41,603
28,013
108		 Total
2021
£
36,308
36,255
221
7,109 62,615 69,724 72,784

Page 18

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

8 Creditors: amounts falling due within one year

Unrestricted
funds
£
Accounts Payable
-
Accruals
2,264
Kickstart conduit funding
-
PAYE Control
2,746
Pension Payable
544
Deposit held
1,600
Total creditors due within one year
7,154		 Unrestricted
funds
£
Accounts Payable
-
Accruals
2,264
Kickstart conduit funding
-
PAYE Control
2,746
Pension Payable
544
Deposit held
1,600
Total creditors due within one year
7,154		 Restricted
funds
£
-
-
-
-
-
-		 Total
2022
£
-
2,264
-
2,746
544
1,600		 Total
2021
£
5,034
2,109
6,866
3,164
-
-
7,154 - 7,154 17,173

9 Charity funds - current year

The restricted fund are grants received in the year and unspent at the end of the year.

Restricted funds
Housing Deposit Fund
Paddington Development Trust
National Lottery
Clothworkers
YMCALCAN
Paul Hamlyn
City of London - Mental health trainee fund
Total Restricted funds
Unrestricted funds
Total funds		 At 1
January
2022
£
37,498
-
-
-
-
-
-		 Incoming
resources
£
7,273
4,000
10,000
30,000
5,000
30,000
6,250		 Resources
expended
£
4,325
4,000
10,000
30,000
5,000
12,513
-		 At 31
December
2022
£
40,446
-
-
-
-
17,487
6,250
37,498
50,596		 92,523
117,677		 65,838
146,809		 64,183
21,464
88,094 210,200 212,647 85,647

Page 19

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2022

10 Charity funds - previous year

Restricted funds
Housing Deposit Fund
Renovations Fund
Training Academy
Meg Doherty salary
Total Restricted funds
Unrestricted funds
Total funds		 At 1
January
2021
£
16,424
-
-
-		 Incoming
resources
£
24,733
61,652
32,000
16,650		 Resources
expended
£
3,659
61,652
32,000
16,650		 At 31
December
2021
£
37,498
-
-
-
16,424
199,196		 135,035
56,530		 113,961
205,130		 37,498
50,596
215,620 191,565 319,091 88,094

11 Related party transactions

The charity holds a "golden share" in the company Fat Macy's Limited. This is a trading company which operates alongside the charity. The charities activities, as fully described in the trustees report, are training, support in food and cooking, and grant making to individuals. The trading company operates a restaurant which is fully staffed by that company. The trading company then provides work experience opportunities to the individuals supported by charity.

The trading company Fat Macy's Limited makes donations to the charity, as listed in note 3 above.

The charity has taken on peppercorn lease for a five story building. Substantial renovation costs were incurred by the charity as detailed in note 4 above. This building is now used by the charity for its activities and also by the related trading company, Fat Macy's Limited, which pays a market value rent to the charity for the use of the building.

Page 20

SIGNATURE CERTIFICATE

REFERENCE NUMBER 7C6AB395-CB07-4A1E-AC5B-5489C83BD91B

TRANSACTION DETAILS

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DOCUMENT DETAILS

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