OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Fat Macy's Foundation

2023-12-31-accounts

Companies House Registration Number: CE011227 Charity Registration Number: 1173688

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Fat Macy's Foundation

(A Charitable Incorporated Organisation)

Green Accountancy Limited 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 to 9
Independent examiner's report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 to 25

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

==> picture [143 x 41] intentionally omitted <==

==> picture [353 x 99] intentionally omitted <==

==> picture [452 x 102] intentionally omitted <==

==> picture [452 x 101] intentionally omitted <==

==> picture [452 x 101] intentionally omitted <==

Fat Macy’s Foundation

Trustees’ Annual Report and Financial Statement

For the period 1 January – 31 December 2023

Charitable Incorporated Organisation, registered number 1173688

Page 2

==> picture [143 x 41] intentionally omitted <==

Reference and administration details

Year ended December 2023

Trustees Office (in any) Dates acted if not for whole year
Debbie Jackson Chair
Steffen Hoyemsvoll Treasurer
Iona Popat Secretary
Edward Mbaraga
Anne Marie-Twumasi
Anthony Dawes
Chris Attoe
Founder and Chief Executive
Registered name
Registered charity number
Charity’s principal address
Bank
Website		 Meg Doherty
Fat Macy’s Foundation
1173688
232 Shoreditch High Street, London, E1 6PJ
Santander, 115-117 Victoria Street, London, SW1E
5NT
www.fatmacys.org

Page 3

==> picture [143 x 41] intentionally omitted <==

Trustees’ Report

Introduction

The trustees present their report with the financial statements of the charity for the period ended 31 December 2023.

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 2023 to 31st December 2023.

Objectives and activities

Objectives

The Fat Macy’s Foundation is a charity which works with Londoners living in temporary and hostel accommodation. It provides employment training and rental deposits for those experiencing homelessness.

Fat Macy’s provides training in catering, hospitality and food hygiene. This is complemented by a programme of 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 supported accommodation. We do this through the provision of practical advice and life-skills development; catering and hospitality 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 going to where they are: we meet people in their hostels and other temporary accommodation sites, as well as within other homelessness services.

Page 4

==> picture [143 x 41] intentionally omitted <==

Our Senior Progression and Engagement Officer, supported by our Programme Lead, works directly with the staff in our partner hostels and temporary accommodation providers to build close working relationships.

Through these activities, we ensure referrals into our Milestone Programme.

Initial Training

Our Initial Training acts as a trainee recruitment funnel. Prospective trainees start with a one-to-one sign-up session, in which they are introduced to Fat Macy’s and participate in confidence building exercises, which are designed to identify their personal strengths. They meet our team and get a tour of the building, so that their nerves about coming to a new place can be addressed before they start their training. The session culminates with participants completing their Level Two Food Safety and Hygiene qualification.

Those who attend the sign-up sessions and pass their Level Two Food Safety and Hygiene qualification are invited to the next stage of our Initial Training. Here, they complete three trial sessions in our East London restaurant, Sohaila. They learn core catering and hospitality skills (e.g. food hygiene, customer service, and using professional kitchen equipment) that will serve them in a range of future employment settings. Staff also work with participants to build their self-esteem and encourage them to use feedback to make progress in a professional setting.

These sessions are led by Training Lead in collaboration with our Programme Lead and colleagues at Fat Macy’s Ltd.

Milestone Programme

The Fat Macy’s Milestone Programme is a 200-hour training and work experience placement within Fat Macy’s Ltd. and our other training partners.

The Milestone Programme covers a range of on-the-job learning opportunities. For some, this is serving guests in our restaurant; for others it might be preparing dishes in our kitchen. Trainees also have the opportunity to complete training hours with our partner, Lexington Catering, where they complete, amongst other things, barista training. Our aim is to expose trainees to the full breadth of the hospitality and catering industry and equip them with a portfolio of transferable

As trainees reach time-based milestones (at 50, 100 and 150 hours of training), they are eligible for Milestone Rewards - small grants to cover the essentials in their journey to sustainable employment and housing. These can include 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; helping them towards a more secure future.

After 200 hours, and providing they are well prepared to maintain a tenancy, Fat Macy’s will provide a deposit on the trainee’s behalf to a landlord in the private rental sector.

Page 5

==> picture [143 x 41] intentionally omitted <==

Support Curriculum

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

The Support Curriculum is the framework within which we provide flexible, individualised support to our trainees. It has three focus areas: wellbeing, employability and tenancy sustainment. Our support package spans a broad range of help, including benefits advice, budgeting exercises and job interview preparation.

Trainees also have access to fully funded counselling, life coaching and career mentoring services through our Support Curriculum.

Achievements and performance

Highlights and Impact

In 2023 we focused on improving the emotional wellbeing of our trainees and graduates, and ensuring their voices were heard at every level of the organisation.

2023 was the first full year of our Advisory Board - a group of volunteer Fat Macy’s graduates who consult and advise on policy and programme changes. The board guarantees that the voice of lived experience is always considered at Fat Macy’s. We also launched a biannual anonymous feedback survey, where trainees and graduates could share their views and review our programmes.

We received funding for a mental health service, allowing us to pay for trainees and graduates to access private counselling and life coaching. We were also able to launch a series of social events, including a week away in a 16th parsonage in Oxfordshire, a day trip to Margate and festive feast in our restaurant. Being able to provide professional mental health support, alongside a sense of community, has facilitated our trainees building positive relationships and wider support networks.

In another first, we launched our first ever training partnership, with Lexington Catering. Trainees are now able to complete a portion of their training hours with Lexington, widening their experience of different types of catering work.

We hired our Programme Lead, as the scope of our offer broadened. Our board remained constant.

Page 6

Fat Macy's Strategic Objectives Oblectlve I: Ensuring regular referrols into the programmg Objective 2- Provlding tallored ond holistic support We worked with 25 diffe￿nt referral partners in 2023, including 17 new partners. Thi5 year. we extended our outreach work to collaborate with lobcentre Plus teams in Brent and Harrow. Trainees accessed 375 hoycs of l..1 support. and gave our sUPPOrt programme a 94% 5at15fartion rating. We launched a mental health service, through which trainee5 and graduates could acce55 fulling funded counselling and therapeutic coaching. Our Outreach Team visited 20 different services, hosted three open day5 and held three meet and eat. lunches at our restaurant. Through these sesslons. they secured 88 referrals to Fat Macy's. We also ran a programme of socièl artivities. including a week away in countryside and a day at the beach. These activities provided opportunities for trainees to build social networks, share experiences and to Simply relax. Objective 3: Delivering o world class training programme Objective 4.. Creating positive move-on pathwoys Thrnijghnirt ?n?1, 45 ppnplp jninpd niir sifjn-ijp se55ions and 24 people went on to complete their Level 2 Food Safety and Hygiene qualification with us. 31 trainees participated in our workplace training programmes, including 14 new trainees. Wnrking rlnsply with hnstpl staff, wp ijsprl thpir housing contacts and our granis and support system to fflove three Fat Macy's graduates out of temporary accommodation. Knowing that sustaining employment is e55ential to successful move on. we worked with our corporate partners to launch a career mentoring programme. This has allowed us to pair mentees Wlth prolessiona15 in a Y4ide range of indu5trie5 and empoweied trainees to expand their professional networks. Trainees completed 994 hours of training and work experience. This included time with our new training Partner, Lexington Catering, which doubled the number of training hours available to trainee We also launched our kitchen training curriculum. ensuring progression was embedded into the trainee experience. At the end of the year. 81% of our graduate5 were in education, trainin9 or employment. Objective 5: Ensuring financial sustainability for FMF In 2023 we fundrai5ed arovnd £I(x1,r￿ more than in 2022. from a variety of tTU5ts and foundation, corporate supporters and crowdfunding campaigns. This was a huge success given a renewed fundraising strategy. and ensures we're able to work towards securing new income ttreams to support the Foundation's wor Page 7

==> picture [143 x 41] intentionally omitted <==

Awards/press

2023 saw some great press for both Fat Macy’s and Sohaila. Some highlights included:

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 outreach and initial training in hostels and our head officer, 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 work experience and training. This Milestone Programme is a combination of work experience, employability support, one-to-one 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. Fat Macy’s Foundation has a golden share in Fat Macy’s Limited to ensure our social impact is locked into the Fat Macy’s Limited articles.

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), Victoria Western (Impact and Learning Lead) and Laura Rogan (Programme Lead), is responsible for the implementation of the strategy and day-to-day operations of the charity. We have a wider team of five staff who have key responsibilities in the work we do.

Page 8

==> picture [143 x 41] intentionally omitted <==

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.

Financial review

The Fat Macy’s Foundation received £325,252 (2022: £210,200) in income during the year 2023, with £283,698 from grants and trusts, and £29,975 from Fat Macy’s Ltd and other small businesses and charities for office space.

Total expenditure amounted to £295,488 (2022: £214,215).

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 £25,000 per month (2022: £20,000).

As at 31st December 2023, free reserves amounted to £73,130 and we will seek to grow this over 2024.

Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees:

Signature(s)

==> picture [140 x 35] intentionally omitted <==

Full name(s) Steffen Hoyemsvoll

Position Treasurer Date 02/09/2024

Page 9

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 2023.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Association of Chartered Certified Accountants which is one of the listed bodies.

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:

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.

==> picture [140 x 35] intentionally omitted <==

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

03/09/2024

Date: .............................................

Page 10

Fat Macy's Foundation

Statement of Financial Activities for the year ended 31 December 2023

Unrestricted
funds
Note
£
Incoming resources
Income and endowments from:
Donations and legacies
3.1
210,948
Charitable activities - income
3.2
11,076
Other trading activities
3.3
29,975
Investment income
3.4
503
Total Income
252,502
Resources expended
Expenditure on:
Charitable activities - expenditure
4.2
200,836
Leasehold renovation costs
-
Total expenditure
200,836
Net income/(expenditure)
51,666
Net movement in funds
51,666
Reconciliation of funds:
Total funds brought forward
21,464
Total funds carried forward
73,130		 Unrestricted
funds
Note
£
Incoming resources
Income and endowments from:
Donations and legacies
3.1
210,948
Charitable activities - income
3.2
11,076
Other trading activities
3.3
29,975
Investment income
3.4
503
Total Income
252,502
Resources expended
Expenditure on:
Charitable activities - expenditure
4.2
200,836
Leasehold renovation costs
-
Total expenditure
200,836
Net income/(expenditure)
51,666
Net movement in funds
51,666
Reconciliation of funds:
Total funds brought forward
21,464
Total funds carried forward
73,130		 Restricted
funds
£
72,750
-
-
-		 Total
2023
£
283,698
11,076
29,975
503		 Total
2022
£
143,162
28,040
38,968
30
252,502 72,750 325,252 210,200
200,836
-		 94,652
-		 295,488
-		 213,656
559
200,836 94,652 295,488 214,215
51,666 (21,902) 29,764 (4,015)
51,666
21,464		 (21,902)
62,615		 29,764
84,079		 (4,015)
88,094
73,130 40,713 113,843 84,079

Continuing operations

All income and expenditure has arisen from continuing activities.

Page 11

Fat Macy's Foundation

Charity Number 1173688

Balance Sheet as at 31 December 2023

CIO Number CE011227

Unrestricted
funds
Note
£
Fixed assets
Tangible assets
5
11,592
Total fixed assets
11,592
Current assets
Debtors
6
11,001
Cash at bank and in hand
7
114,779
Total current assets
125,780
Creditors: amounts falling due within one year
8
37,841
Net current assets/(liabilities)
87,939
Total assets less current liabilities
99,531
Creditors: amounts falling due after one year
9
26,401
Total net assets
73,130
Funds of the Charity
Unrestricted funds
10
73,130
Restricted income funds
10
Total funds
73,130		 Unrestricted
funds
Note
£
Fixed assets
Tangible assets
5
11,592
Total fixed assets
11,592
Current assets
Debtors
6
11,001
Cash at bank and in hand
7
114,779
Total current assets
125,780
Creditors: amounts falling due within one year
8
37,841
Net current assets/(liabilities)
87,939
Total assets less current liabilities
99,531
Creditors: amounts falling due after one year
9
26,401
Total net assets
73,130
Funds of the Charity
Unrestricted funds
10
73,130
Restricted income funds
10
Total funds
73,130		 Restricted
funds
£
-		 Total
2023
£
11,592		 Total
2022
£
21,464
11,592 - 11,592 21,464
11,001
114,779		 -
40,713		 11,001
155,492		 45
69,724
125,780
37,841		 40,713
-		 166,493
37,841		 69,769
7,154
87,939 40,713 128,652 62,615
99,531
26,401		 40,713
-		 140,244
26,401		 84,079
-
73,130 40,713 113,843 84,079
73,130 40,713 73,130
40,713		 21,464
62,615
73,130 40,713 113,843 84,079

The financial statements were approved by the Board of Trustees and authorised for issue on

02/09/2024

…................. and were signed on its behalf by:

==> picture [139 x 35] intentionally omitted <==

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

Steffen Hoyemsvoll Trustee (Director)

Page 12

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

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 13

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

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 14

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

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.

Leasehold property - 25% Straight Line Basis Plant and Machinery - 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 15

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

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 16

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

3.1 Income from donations and legacies

Unrestricted
funds
£
Donations from Fat Macy's Ltd
-
Donations from Crowdfunder
56,591
Donations received
558
Grants received
153,799
Total donations and legacies
210,948
Unrestricted
funds
Grants included in the above amounts:
£
Maria Marina Foundation
20,000
Brookfield properties
10,030
Albert Hunt Trust
7,000
CAF
15,000
LandAid trust
45,000
Semble Network
3,000
Small grant donor cheques
4,300
Charles Russell Speechlys Foundation
10,000
LSE RAG
7,667
Susan and John Bowers
800
Postcode lottery
24,200
Elior UK Plc - 1-1 Support Officer
4,500
Desmond Harris Charitable Trust
2,000
Paul Hamlyn
300
National Lottery
-
City of London - Mental health trainee fund
-
London Community Foundation
-
St Martin in the Fields Charity
-
Brotherton
-
EQUIP
-
Indigo Wines
-
Paddington Development Trust
-
Clothworkers
-
YMCALCAN
-
Total grants included in donations and legacies
153,797		 Restricted
funds
£
-
-
-
72,750
72,750
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
33,000
10,000
18,750
10,000
1,000
-
-
-
-
-
-
72,750		 Total
2023
£
-
56,591
558
226,549
283,698
Total
2023
£
20,000
10,030
7,000
15,000
45,000
3,000
4,300
10,000
7,667
800
24,200
4,500
2,000
33,300
10,000
18,750
10,000
1,000
-
-
-
-
-
-
226,547		 Total
2022
£
13
-
621
142,528
143,162
Total
2022
£
30,000
11,278
-
-
-
-
-
-
-
-
-
-
-
30,000
10,000
6,250
-
-
10,000
4,000
2,000
4,000
30,000
5,000
142,528

Page 17

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

3.2 Income from charitable activities

3.2
Income from charitable activities
Unrestricted
funds
£
Kickstart Grant
-
Charge for trainees services to Fat Macy's Ltd
11,076
Total income from charitable activities
11,076
3.3
Income from other trading activities
Unrestricted
funds
£
Desk space
775
Rental income
29,200
Total income from charitable activities
29,975		 Restricted
funds
£
-
-
-
Restricted
funds
£
-
-
-		 Total
2023
£
-
11,076
11,076
Total
2023
£
775
29,200
29,975		 Total
2022
£
20,780
7,260
28,040
Total
2022
£
13,975
24,993
38,968

Page 18

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

4.1 Charitable activities - expenditure

Fat Macy's Foundation provides education and training, and the prevention and relief of poverty, for

Unrestricted
funds
£
Salaries - Gross pay
96,290
Salaries - Employers NI
9,953
Salaries - Pensions
2,340
Kickstart costs
-
Grants to volunteers
1
Cooking class costs
1,731
Trainee Travel
2,258
Trainee expenses
2,493
Life coach
2,950
Depreciation Expense
10,412
Rent - Ebury
-
Rates - Ebury
17,146
Light, Power, Heating
15,915
Repairs & Maintenance
11
Shoreditch office expenses
1,393
Support costs:
Advertising & Marketing
7,522
Bank Fees
1,562
Bank Loan Fee
1,000
Cleaning
119
Consulting
3,960
Entertainment
145
Expense claims
93
Fundraising costs
2,796
Insurance
432
Interest Paid
2,590
IT Software and Consumables
758
Motor Vehicle Expenses
1,268
Printing & Stationery
1,265
Recruitment
399
Rubbish + recycling
2,820
Staff training
1,561
Subscriptions
154
(Profit)/loss on disposal of fixed assets
64
Telephone & Internet
3,258
Travel - National
234
Governance
5,943
Total expenditure on charitable activities
200,836		 Restricted
funds
£
83,478
5,739
1,420
-
4,015
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
94,652		 Total
2023
£
179,768
15,692
3,760
-
4,016
1,731
2,258
2,493
2,950
10,412
-
17,146
15,915
11
1,393
7,522
1,562
1,000
119
3,960
145
93
2,796
432
2,590
758
1,268
1,265
399
2,820
1,561
154
64
3,258
234
5,943
295,488		 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
213,656

Support costs

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

Page 19

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

4.2
Governance costs included above
Unrestricted
funds
£
Accountancy and bookkeeping fees
5,265
Independent examination
678
Total governance costs
5,943		 Restricted
funds
£
-
-
-		 Total
2023
£
5,265
678
5,943		 Total
2022
£
4,174
696
4,870

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

4.5 Staff costs

Unrestricted
funds
£
Salaries - Gross pay
96,290
Salaries - Employers NI
9,953
Salaries - Pensions
2,340
Total staff costs
108,583		 Restricted
funds
£
83,478
5,739
1,420
90,637		 Total
2023
£
179,768
15,692
3,760
199,220		 Total
2022
£
147,155
7,316
2,861
157,332

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.

4.4 Staff numbers

Average headcount in the year: 2023 2022
Charitable activities 8 8

Page 20

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

5
Tangible fixed assets
Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for year
Eliminated on disposal
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Kitchen
equipment
£
17,096
-
(25)
17,071
9,002
4,268
(16)
13,254
3,817
8,094		 Computer
equipment
£
7,365
604
(108)
7,861
3,787
1,673
(54)
5,406
2,455
3,578		 Motor
vehicles
£
17,024
-
-
17,024
7,448
4,256
-
11,704
5,320
9,576		 Totals
£
41,485
604
(133)
41,956
20,237
10,197
(70)
30,364
11,592
21,248

Page 21

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

6 Debtors

6
Debtors
Unrestricted
funds
£
Trade debtors
5,950
Wages Payable - Payroll
-
Other debtors and accrued income
5,051
Total debtors
11,001
7
Cash at bank and in hand
Unrestricted
funds
£
Current Account
58,129
Savings Account
56,171
Soldo
356
Pleo
123
Total cash at bank and in hand
114,779		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
40,713
-
-
-
40,713		 Total
2023
£
5,950
-
5,051
11,001
Total
2023
£
98,842
56,171
356
123
155,492		 Total
2022
£
-
45
-
45
Total
2022
£
41,603
28,013
108
-
69,724

Page 22

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

8 Creditors: amounts falling due within one year

Unrestricted
funds
£
Accruals
10,117
PAYE Control
5,614
Pension Payable
835
Deposit held
1,600
Loan
19,675
Total creditors due within one year
37,841
9
Creditors: amounts falling due after more than one year
Unrestricted
funds
£
Bank loans due after more than one year
26,401
Total creditors due within one year
26,401
10
Loans: analysis of the maturity of loans is given below:
Bank loans
Amounts falling due within one year on demand
Amounts falling between one and two years:
Amounts falling due between two and five years:		 Restricted
funds
£
-
-
-
-
-
-
Restricted
funds
£
-
-		 Total
2023
£
10,117
5,614
835
1,600
19,675
37,841
Total
2023
£
26,401
26,401
2023
£
46,076
19,675
21,002
5,399		 Total
2022
£
2,264
2,746
544
1,600
-
7,154
Total
2022
£
-
-
2022
£
-

Page 23

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

11 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
Paul Hamlyn
City of London - Mental health trainee fund
National Lottery
St Martin in the Fields Charity
Total Restricted funds
Unrestricted funds
Total funds
12
Charity funds - previous year
Restricted funds
Housing Deposit Fund
Paul Hamlyn
City of London - Mental health trainee fund
National Lottery
Paddington Development Trust
Clothworkers
YMCALCAN
Total Restricted funds
Unrestricted funds
Total funds		 At 1
January
2023
£
40,446
15,919
6,250
-
-
62,615
21,464
84,079
At 1
January
2022
£
37,498
-
-
-
-
-
-
37,498
50,596
88,094		 Incoming
resources
£
-
33,000
28,750
10,000
1,000
72,750
252,502
325,252
Incoming
resources
£
7,273
30,000
6,250
10,000
4,000
30,000
5,000
92,523
117,677
210,200		 Resources
expended
£
14,274
48,919
21,460
10,000
-
94,653
200,836
295,489
Resources
expended
£
4,325
14,081
-
10,000
4,000
30,000
5,000
67,406
146,809
214,215		 At 31
December
2023
£
26,173
-
13,540
-
1,000
40,713
73,130
113,843
At 31
December
2022
£
40,446
15,919
6,250
-
-
-
-
62,615
21,464
84,079

Page 24

Fat Macy's Foundation

Notes to the Financial Statements for the year ended 31 December 2023

13 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 charity's 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 25

SIGNATURE CERTIFICATE

==> picture [55 x 55] intentionally omitted <==

REFERENCE NUMBER D6FC868D-CBE5-4378-8512-D40B4D2BE537

TRANSACTION DETAILS DOCUMENT DETAILS Reference Number Document Name D6FC868D-CBE5-4378-8512-D40B4D2BE537 4440 Final Accounts 31-Dec-23 Fat Macy s Foundation 240710 Transaction Type Filename Signature Request 4440_Final_Accounts_31-Dec-23_Fat_Macy_s_Foundation_240710.pdf Sent At Pages 09/02/2024 09:55 +01 27 pages Executed At Content Type 09/03/2024 08:28 +01 application/pdf Identity Method File Size email 984 KB Distribution Method Original Checksum email 5274d52e89e82e24ad094e5d91beacc185da0debc8c3c7c43cd719998d29c09f Signed Checksum 457fd59c7c8e072b2c9b372413dc45b692f349451edbd28b4cf8398856dd2978 Signer Sequencing Enabled Document Passcode Disabled

Document Name 4440 Final Accounts 31-Dec-23 Fat Macy s Foundation 240710 Filename 4440_Final_Accounts_31-Dec-23_Fat_Macy_s_Foundation_240710.pdf Pages 27 pages Content Type application/pdf File Size 984 KB Original Checksum

SIGNERS

SIGNER E-SIGNATURE EVENTS
Name Status Viewed At
David Wilsdon signed 09/03/2024 08:28 +01
Email Multi-factor Digital Fingerprint Checksum Identity Authenticated At
david@greenaccountancy.com cf5bbbe34ad19a225e19648f796f88a27cbefa2a2c504d4815c33305509ab6c8 09/03/2024 08:28 +01
Signer Sequence IP Address Signed At
1 82.17.69.8 09/03/2024 08:28 +01
Components Device
2 Firefox via Windows
Typed Signature
Signature Reference ID
269F65A2
Name Status Viewed At
Steffen Hoyemsvoll signed 09/02/2024 16:08 +01
Email Multi-factor Digital Fingerprint Checksum Identity Authenticated At
sthoyem@gmail.com 0488a416c6a384bee608fe30db2ecf42bdabc94237ce79c6297bb6f80db1a20a 09/02/2024 16:09 +01
Signer Sequence IP Address Signed At
0 84.213.76.121 09/02/2024 16:09 +01
Components Device
4 Chrome via Windows
Drawn Signature
Signature Reference ID
A49791CB
Signature Biometric Count
2

AUDITS

TIMESTAMP AUDIT
09/02/2024 09:55 +01 Adam Forkner (adam@greenaccountancy.com) created document '4440_Final_Accounts_31-Dec-
23_Fat_Macy_s_Foundation_240710.pdf' on Firefox via Windows from 35.169.110.255.
09/02/2024 09:55 +01 Steffen Hoyemsvoll (sthoyem@gmail.com) was emailed a link to sign.
09/02/2024 16:08 +01 Steffen Hoyemsvoll (sthoyem@gmail.com) viewed the document on Chrome via Windows from 84.213.76.121.
09/02/2024 16:09 +01 Steffen Hoyemsvoll (sthoyem@gmail.com) authenticated via email on Chrome via Windows from 84.213.76.121.

TIMESTAMP AUDIT 09/02/2024 16:09 +01 Steffen Hoyemsvoll (sthoyem@gmail.com) signed the document on Chrome via Windows from 84.213.76.121. 09/02/2024 16:09 +01 David Wilsdon (david@greenaccountancy.com) was emailed a link to sign. 09/03/2024 08:28 +01 David Wilsdon (david@greenaccountancy.com) viewed the document on Firefox via Windows from 82.17.69.8. 09/03/2024 08:28 +01 David Wilsdon (david@greenaccountancy.com) authenticated via email on Firefox via Windows from 82.17.69.8. 09/03/2024 08:28 +01 David Wilsdon (david@greenaccountancy.com) signed the document on Firefox via Windows from 82.17.69.8.