Companies House Registration Number: CE011227 Charity Registration Number: 1173688
## **Report of the Trustees and**
## **Unaudited Financial Statements for the Year Ended 31 December 2024**
## **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|2-12|
|Independent examiner's report|13|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Notes to the Financial Statements|16-26|
## **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**
Debbie Jackson (Chair) Steffen Hoyemsvoll (Treasurer) Iona Popat (Secratary) Sarah Kate Farrelly Anthony Dawes Anne-Marie Twumasi Christopher Attoe Edward Mbaraga
## **Independent Examiner**
David Wilsdon FCCA Green Accountancy Limited Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX
Page 1
## **Fat Macy’s Foundation**
Trustees’ Annual Report and Financial Statement
For the period 1 January – 31 December 2024
Charitable Incorporated Organisation, registered number 1173688
Page 2
## **Reference and administration details**
## **Year ended December 2024**
|**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||||
|Sarah Farrelly||||
|**Founder and Chief Executive**|Meg Doherty|||
|**Registered name**|Fat Macy’s Foundation|||
|**Registered charity number**|1173688|||
|**Charity’s principal address**|232 Shoreditch High Street, London, E1 6PJ|||
|**Bank**|Santander, 115-117 Victoria Street, London, SW1E 5NT|||
|**Website**|www.fatmacys.org|||
Page 3
## **Trustees’ Report**
## **Introduction**
The trustees present their report with the financial statements of the charity for the period ended 31 December 2024.
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).
The trustees have had regard to Charities Commission guidance on public benefit, which is an explicit component of the objects of the charity.
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 2024 to 31st December 2024.
## **Objectives and activities**
## **Objectives**
The Fat Macy’s Foundation is a London-based charity supporting individuals living in temporary or hostel accommodation. Our mission is to help those experiencing homelessness build stable, independent lives through training, support, and access to housing.
We provide hands-on training in catering, hospitality, and food hygiene, alongside a programme of wraparound, holistic support covering wellbeing, employability, and tenancy sustainment.
Our core purpose is to alleviate poverty—particularly among people living in temporary, supported, or hostel accommodation—by offering practical advice, life-skills development, emotional support, and access to grant funding for rental deposits.
Page 4
## **Activities**
## **Outreach**
To ensure the right people can access our support, we have a small outreach team dedicated to building connections with individuals living in temporary accommodation. By meeting people where they are, whether in hostels, supported housing, or other homelessness services, we’re able to engage those who are often considered ‘hard to reach’.
Our Senior Employment and Engagement Officer, supported by our Programme Lead, works closely with staff at partner hostels and accommodation providers to establish strong, collaborative relationships that encourage meaningful referrals.
We also host quarterly open days, welcoming referral partners and their clients to visit our restaurant and head office. These visits allow potential trainees to meet the team, explore the space, and learn more about the programme in a relaxed and welcoming environment. For many, this helps reduce anxiety about joining something new and increases their confidence in taking that next step.
These outreach and engagement activities ensure a steady flow of referrals into our Milestone Programme, reaching those who can benefit most.
## **Initial Training**
Our Initial Training serves as both a welcome to Fat Macy’s and a recruitment funnel for the Milestone Programme. Prospective trainees begin with a one-to-one sign-up session, where they’re introduced to our team, given a tour of the space, and guided through confidence-building exercises designed to help identify their personal strengths. These sessions are tailored to ease anxieties about starting something new and build early trust. The session concludes with participants completing their Level 2 Food Safety and Hygiene qualification.
Those who pass the qualification are invited to the next stage of Initial Training: three trial sessions at our East London restaurant, Sohaila. Here, trainees begin building core hospitality and catering skills, including food hygiene, customer service, and how to use professional kitchen equipment. Just as importantly, they begin developing professional confidence - learning how to take feedback, build resilience, and recognise their own progress in a supportive, real-world setting.
This stage is delivered by our Training Lead in collaboration with the Programme Lead and colleagues from Fat Macy’s Ltd, ensuring a joined-up, consistent experience for each trainee.
Page 5
## **Milestone Programme**
Following Initial Training, trainees progress into the Fat Macy’s Milestone Programme; a 200-hour structured placement offering hands-on training and work experience within Fat Macy’s Ltd. and with trusted external partners.
The programme provides a wide range of on-the-job learning opportunities across the hospitality and catering industry. For some trainees, this means working front-ofhouse in our restaurant; for others, it involves gaining experience in a professional kitchen. Trainees can also complete hours with our partner Lexington Catering, where they access further skills development such as barista training. Our goal is to expose participants to the full spectrum of roles in the sector and help them build a broad, transferable skillset.
Trainees complete reflective progress reviews with our Training Lead and Employability and Engagement Officer at 50, 100, and 150-hour milestones. These reviews celebrate achievement, identify challenges, and set new goals. At each stage, trainees can also access Milestone Rewards; small, practical grants designed to remove barriers to employment and independence. These might include photographic ID, a travel pass, interview clothing, or a passport - essentials that support access to bank accounts, job opportunities, and stability.
On completion of the full 200 hours, and once the trainee is ready to manage a tenancy, Fat Macy’s provides a rental deposit directly to a private sector landlord, offering a vital step towards long-term housing.
Page 6
## **Support Curriculum**
Running alongside the Milestone Programme, our Support Curriculum provides flexible, individualised guidance tailored to each trainee’s journey. It focuses on three key areas: wellbeing, employability, and tenancy sustainment. This wraparound support includes everything from benefits advice and budgeting exercises to job search assistance and interview preparation.
Throughout their training, trainees receive one-to-one support from our Employment and Engagement Officer. Together, they explore potential career pathways, build job-readiness skills, and take practical steps toward securing employment. Our goal is for every trainee to be in at least parttime work before completing the programme. For those already in employment, we continue to offer guidance on navigating workplace challenges such as conflict or adjusting to new responsibilities.
Once a trainee completes the Milestone Programme and secures a job, our Resettlement Officer
steps in to support the move into independent living. This includes ensuring the right documentation is in place, reviewing budgets, and guiding trainees through the flat-hunting process. Once moved in, support continues, helping with practical tasks like setting up utilities and signposting local community resources. Graduates can access ongoing resettlement support for up to two years after their move.
In addition, trainees have access to fully funded counselling and life coaching, as well as the option to join our career mentoring programme. Through this, volunteers from our corporate partners offer sectorspecific advice or general employability guidance, further expanding trainees’ confidence and opportunities.
Page 7
## **Achievements and performance**
## **Highlights and Impact**
In 2024, we shifted our focus to embedding and observing the impact of our programmes in action. After several years of adapting the Milestone Programme in response to the challenges of COVID-19, this was the first uninterrupted year where our model could operate at full strength.
It also marked the first full year of our partnership with Lexington Catering. Together, we launched _Fat Macy’s on Five_ , a grab-and-go café located in a large corporate office building. Trainees work alongside the Lexington team, learning barista skills, customer service, and food hygiene. For those with a passion for cooking, additional training in the Lexington kitchens is available. This collaboration has significantly accelerated trainee progress: those involved completed the Milestone Programme three times faster than their peers, contributing to a 100% increase in total training hours compared to 2023. Six Lexington trainees successfully graduated from the programme during the year.
Building on our 2023 focus on wellbeing, we expanded access to social activities, trips, counselling, and coaching. These efforts continue to strengthen trainees’ support networks and mental health. Notably, 100% of graduates reported good to high emotional wellbeing by the end of the Milestone Programme, up from 80% when they started.
This holistic approach, combining increased training opportunities with wellbeing support, has shortened the time it takes for trainees to reach resettlement. Eight people completed the Milestone Programme in 2024 (up from one in 2023), with four receiving resettlement grants and two moving into permanent housing. By year-end, 64% of graduates were in education, training, or employment, and 100% of those who stayed in touch remained in stable accommodation.
To close the year, we undertook a full programme review, consulting our Advisory Board, staff team, trustees, and funders. As a result, we have designed an updated version of the Milestone Programme - one that aligns more closely with our growing restaurant and catering enterprises while continuing to centre trainee development. This new model will launch in early 2025.
Page 8
Fat Macy's
Strategic Objectives
Objective l.. Ensuring regular referrals
into the pro9rammè
Objective 2.. Providing tailored and
holistic support
Although the Milestone Programme wos at
copocity for much of 2024, we still ieceived
72 referrals. Our Outreach Team visited 15
partner services and h05ted three open
doys to ioisè oworèness ol our off6r.
Trainees accessed 396 hours of one-to-one
support in 2024. with 72% rating the I'.1
supwrt progromme os'8xcellenf in our
anonymous survey.
We placed greater emphasis on engaging
frontline 5toff. helping them better
understand o¢Jr programme orKI referrol
criteria. As a resulL the proportion ol referrals
who went on to ottend o sign-up session
rose to 42%- up from 28% rn 2023.
We exponded our so¢iol o¢tivities ond trips
to address loneliness and build community.
By the end of the programme, 100% of
groduate5 reported good to high emotional
wellb&ing.
Objective 3: Delivering a world class
training programme
Objective 4.. Creating positiv
move-on pathways
In 2024. troinees completed 1.990 hours of
training and work experience- double the
total from 2023. Eight trainee5 gradu(rted
from the progromme. up from just one the
previous year.
Despite the ongoing rental crisis, especially
in London. two graduates successfully
moved on from temporary accommodation
with OUT supporL An odditional four had thèiT
resettlement grants approved and began
octively 5eorching lor stable housing.
It was also the first full year of our structured
hospitality curriculum, which strengthened
engogement and ownership omong
tsoinèes. Stoff ossessments showed 0 23%
increase in hospitality skills among
graduates ocross the programme.
By the end of 2024, 63% of graduates were in
educotion, troining or employment and all
those wè remoin6d in contoct with wer8
living in stable accommodation.
bjective 5.. Ensuring finoncial su5toinabili
lor FMF
Objective 8= Cregtin9 (Jnd sustoining
impocttul partnèrships
In 2024, we roised over £161500 through o
mix ol trusts and foundations. corporote
supporters, and crowdfunding campaigns.
Our portnership with Lèxington Cotering wos
o key success in 2024. with trainees using
75% of the training hours available. The
collaboratFon provided valuable r8al-world
experience in a professional setting.
Highlights included our'Big Supper Club,
lundraiser, which invited individuals ond
companies to host dinner porties in
exchonge lor donotions from their guests.
This project also served as a strong proof of
concèpL directly leoding to o second
training partnership. set to launch in
summer 2025.
Page 9
## **Awards/press**
2024 saw some great press for both Fat Macy’s and Sohaila. Some highlights included:
- A profile of our Restaurant Manager and Head of Wine, Alexandros Vainas, on the Restaurant website.
- Sohaila included in:
- Metro’s ‘Best things to do in London this weekend’
- Olive Magazine’s ‘Best restaurants in Shoreditch’
- House & Garden’s ‘The best restaurants in Shoreditch and Hackney right now’
- London Time Out’s ‘London’s best Lebanese restaurants’
- Our partnership with Lexington was featured in:
- Facilities Management Journal
- Catering Today
## **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 office, 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, 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.
Page 10
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 (Operations and Development Manager) and Laura Rogan (Programmes and Grants Manager), is responsible for the implementation of the strategy and day-to-day operations of the charity. We have a wider team of three 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.
## **Financial review**
The Fat Macy’s Foundation received £237,159 (2023: £325,252) in income during the year 2024, with £168,597 from grants and trusts, and £43,900 from Fat Macy’s Ltd and other small businesses and charities for office space.
Total expenditure amounted to £288,557 (2023: £295,488).
## **Reserve policy**
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 (2023: £25,000 per month).
As at 31st December 2024, free reserves amounted to £3,240 (2023: £73,130). As was the case across the charitable sector, we experienced an increasingly challenging fundraising landscape in 2024. Our voluntary income was lower than expected meaning we needed to draw on our free reserves to support operational costs. Following a strategic review of our organisation and prudent investment into our fundraising capacity, we are confident that our free reserves will rebound appropriately in 2025.
Restricted funds amounted to £59,205 (2023: £40,713)
Page 11
## **Statement of Trustees' responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in 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 enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Declaration**
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees:
|Signature(s)|&|
|---|---|
|Full name(s)|Christopher Attoe|
|Position|Trustee|
|Date|23/10/2025|
Page 12
## **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 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the charity 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
- 2 the accounts do not accord with those records; or
- 3 the accounts do not comply with the accounting requirements of the 2011 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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
`27/10/2025`
Date: .............................................
Page 13
## **Fat Macy's Foundation**
## **Statement of Financial Activities for the year ended 31 December 2024**
|Unrestricted
funds
Note
£
**Incoming resources**
_Income and endowments from:_
Donations and legacies
3.1
129,014
Charitable activities - income
3.2
-
Other trading activities
3.3
43,900
Investment income
3.4
654
**Total Income**
173,568
**Resources expended**
_Expenditure on:_
Charitable activities - expenditure
4.2
243,458
**Total expenditure**
243,458
Net income/(expenditure)
(69,890)
Net movement in funds
(69,890)
_Reconciliation of funds:_
Total funds brought forward
73,130
Total funds carried forward
3,240|Restricted
funds
£
39,583
24,008
-
-
63,591
45,099
45,099
18,492
18,492
40,713
59,205|Total
2024
£
168,597
24,008
43,900
654
237,159
288,557
288,557
(51,398)
(51,398)
113,843
62,445|Total
2023
£
283,698
11,076
29,975
503
325,252
295,488
295,488
29,764
29,764
84,079
113,843|
|---|---|---|---|
## **Continuing operations**
All income and expenditure has arisen from continuing activities.
Page 14
**Fat Macy's Foundation**
**Charity Number 1173688**
## **Balance Sheet as at 31 December 2024**
## **CIO Number CE011227**
|||Unrestricted|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2024|2023|
||Note||£|£|£|£|
|**Fixed assets**|||||||
|Tangible assets|5||2,375|-|2,375|11,592|
|**Total fixed assets**|||2,375|-|2,375|11,592|
|**Current assets**|||||||
|Debtors|6||15,240|11,503|26,743|11,001|
|Cash at bank and in hand|7||64,318|47,702|112,020|155,492|
|**Total current assets**|||79,558|59,205|138,763|166,493|
|Creditors: amounts falling due within one year|8||64,242|-|64,242|37,841|
|**Net current assets/(liabilities)**|||15,316|59,205|74,521|128,652|
|**Total assets less current liabilities**|||17,691|59,205|76,896|140,244|
|Creditors: amounts falling due after one year|9||14,451|-|14,451|26,401|
|**Total net assets**|||3,240|59,205|62,445|113,843|
|**Funds of the Charity**|||||||
|Unrestricted funds|10||3,240||3,240|73,130|
|Restricted income funds|10|||59,205|59,205|40,713|
|**Total funds**|||3,240|59,205|62,445|113,843|
`23/10/2025`
The financial statements were approved by the Board of Trustees and authorised for issue on ….................... and were signed on its behalf by:
.............................................
Christopher Attoe Trustee
Page 15
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## 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)',
- Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
- and with the Charities Act 2011.
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:
- the charity becomes entitled to the resources;
- it is more likely than not that the trustees will receive the resources;
- the monetary value can be measured with sufficient reliability.
## **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.
## **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 16
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **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 Eqipment - 25% Straight Line Basis Motor Vehicles - 25% Straight Line Basis Computer Equipment - 25% Straight Line Basis
## **Taxation**
The charity registered as a charity on 1 January 2023 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 17
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **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 18
**Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **3.1 Income from donations and legacies**
|Unrestricted
funds
£
Donations from Crowdfunder
20,541
Donations from Fat Macy's Ltd
-
Donations received
1,773
Grants received
106,700
**Total donations and legacies**
129,014
Unrestricted
funds
_Grants included in the above amounts:_
£
Albert Hunt Trust
7,000
Brookfield properties
-
CAF
15,000
Charles Russell Speechlys Foundation
10,000
City of London - Mental health trainee fund
-
Desmond Harris Charitable Trust
2,000
Elior UK Plc - 1-1 Support Officer
18,000
LandAid Trust
-
London Community Foundation
-
LSE RAG
-
Maria Marina Foundation
-
National Lottery
-
Paul Hamlyn
-
Postcode lottery
-
Semble Network
-
Small grant donor cheques
-
St Martin in the Fields Charity
-
Susan and John Bowers
-
Actionfunder
8,500
Brownless Trust
200
Grace foundation
1,000
Grove End Housing
15,000
Help The Homeless
-
Lily Benevolent Trust
1,000
Safe Haven
25,000
Worshipful Basket Makers
1,000
YMCALCAN
-
Other
3,000
**Total grants included in donations and legacies**
106,700
-|Restricted
funds
£
-
6,033
-
33,550
39,583
Restricted
funds
£
-
-
-
-
25,000
-
-
-
-
-
-
-
-
-
-
-
1,050
-
-
-
-
-
2,500
-
-
-
5,000
-
33,550
-|Total
2024
£
20,541
6,033
1,773
140,250
168,597
Total
2024
£
7,000
-
15,000
10,000
25,000
2,000
18,000
-
-
-
-
-
-
-
-
-
1,050
-
8,500
200
1,000
15,000
2,500
1,000
25,000
1,000
5,000
3,000
140,250
-|Total
2023
£
56,591
-
558
226,549
283,698
Total
2023
£
7,000
10,030
15,000
10,000
18,750
2,000
4,500
45,000
10,000
7,669
20,000
10,000
33,300
24,200
3,000
4,300
1,000
800
-
-
-
-
-
-
-
-
-
-
226,549
-|
|---|---|---|---|
Page 19
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
|**3.2**
**Income from charitable activities**
Unrestricted
funds
£
Charge for trainees services
-
**Total income from charitable activities**
-
**3.3**
**Income from other trading activities**
Unrestricted
funds
£
Desk space
-
Rental income
43,900
**Total income from other trading activities**
43,900
**3.3**
**Income from other trading activities**
Unrestricted
funds
£
Interest Income
654
**Total investment income**
654|Restricted
funds
£
24,008
24,008
Restricted
funds
£
-
-
-
Restricted
funds
£
-
-|Total
2024
£
24,008
24,008
Total
2024
£
-
43,900
43,900
Total
2024
£
654
654|Total
2023
£
11,076
11,076
Total
2023
£
775
29,200
29,975
Total
2023
£
503
503|
|---|---|---|---|
Page 20
**Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **4.1 Charitable activities - expenditure**
Fat Macy's Foundation provides education and training, and the prevention and relief of poverty, for
|Unrestricted
funds
£
_Direct cost of charitable activity:_
Staff costs
154,449
Grants to volunteers
-
Cooking class costs
1,008
Trainee Travel
-
Trainee expenses
502
Life coach
-
Rates
17,394
Light, Power, Heating
19,735
Repairs & Maintenance
1,304
Shoreditch office expenses
1,410
_Support costs:_
Advertising & Marketing
1,006
Bank Fees
128
Bank Loan Fee
-
Cleaning
-
Consulting
3,960
Depreciation Expense
9,216
Entertainment
655
Expense claims
344
Fundraising costs
2,160
Insurance
1,031
Interest Paid
4,383
IT Software and Consumables
4,162
Motor Vehicle Expenses
1,618
Printing & Stationery
1,430
Recruitment
343
Rubbish and recycling
3,190
Staff training
1,947
Subscriptions
-
(Profit)/loss on disposal of fixed assets
-
Telephone & Internet
4,879
Travel - National
216
Governance
6,988
Total expenditure on charitable activities
243,458|Restricted
funds
£
26,153
7,224
-
3,662
1,625
6,435
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
45,099|Total
2024
£
180,602
7,224
1,008
3,662
2,127
6,435
17,394
19,735
1,304
1,410
1,006
128
-
-
3,960
9,216
655
344
2,160
1,031
4,383
4,162
1,618
1,430
343
3,190
1,947
-
-
4,879
216
6,988
288,557|Total
2023
£
199,220
4,016
1,731
2,258
2,493
2,950
17,146
15,915
11
1,393
7,522
1,562
1,000
119
3,960
10,412
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|
|---|---|---|---|
Page 21
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **Support costs**
All support costs are allocated to the single charitable activity of the charity and are included above.
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|4.2|Governance costs included above|Unrestricted|Restricted|Total|Total|
|funds|funds|2024|2023|
|£|£|£|£|
|-|
|Accountancy and bookkeeping fees|6,312|6,312|5,265|
|Independent examination|676|-|676|678|
|-|
|Total governance costs|6,988|6,988|5,943|
**----- End of picture text -----**
## **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 costs**
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|funds|funds|2024|2023|
|£|£|£|£|
|Salaries - Gross pay|139,095|24,078|163,173|179,768|
|Salaries - Employers NI|12,216|1,608|13,824|15,692|
|Salaries - Pensions|3,138|467|3,605|3,760|
|Total staff costs|154,449|26,153|180,602|199,220|
**----- End of picture text -----**
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.
## **4.5 Staff numbers**
**----- Start of picture text -----**
||||
|---|---|---|
|Average headcount in the year:|2024|2023|
|Charitable activities|8|8|
**----- End of picture text -----**
Page 22
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **5 Tangible fixed assets**
|Kitchen
equipment
£
**Cost**
At 1 January 2024
17,071
At 31 December 2024
17,071
**Depreciation**
At 1 January 2024
13,254
Charge for year
3,256
At 31 December 2024
16,510
**Net book value**
At 31 December 2024
561
At 31 December 2023
3,817
**6**
**Debtors**
Unrestricted
funds
£
Trade debtors
9,300
Other debtors and accrued income
5,940
**Total debtors**
15,240
**7**
**Cash at bank and in hand**
Unrestricted
funds
£
Current Account
10,843
Savings Account
52,257
Soldo
378
Pleo
840
**Total cash at bank and in hand**
64,318|Computer
equipment
£
7,860
7,860
5,405
1,705
7,110
750
2,455
Restricted
funds
£
5,844
5,659
11,503
Restricted
funds
£
47,702
-
-
-
47,702|Motor
vehicles
£
17,024
17,024
11,704
4,256
15,960
1,064
5,320
Total
2024
£
15,144
11,599
26,743
Total
2024
£
58,545
52,257
378
840
112,020|Totals
£
41,955
41,955
30,363
9,217
39,580
2,375
11,592
Total
2023
£
5,950
5,051
11,001
Total
2023
£
98,842
56,171
356
123
155,492|
|---|---|---|---|
Page 23
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **8 Creditors: amounts falling due within one year**
|Unrestricted
funds
£
Accounts Payable
2,130
Accruals
676
PAYE Control
2,226
Pension Payable
491
Deposit held
3,200
Loan
55,519
**Total creditors due within one year**
64,242
**9**
**Creditors: amounts falling due after more than one year**
Unrestricted
funds
£
Bank loans due after more than one year
14,451
**Total creditors due within one year**
14,451|Restricted
funds
£
-
-
-
-
-
-
-
Restricted
funds
£
-
-|Total
2024
£
2,130
676
2,226
491
3,200
55,519
64,242
Total
2024
£
14,451
14,451|Total
2023
£
-
10,117
5,614
835
1,600
19,675
37,841
Total
2023
£
26,401
26,401|
|---|---|---|---|
Page 24
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **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
City of London - Mental Health Trainee Fund
St Martin in the Fields Charity
Help The Homeless
YMCA London City and North
**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
St Martin in the Fields Charity
**Total Restricted funds**
**Unrestricted funds**
**Total funds**|At 1
January
2024
£
26,173
13,540
1,000
-
-
40,713
73,130
113,843
At 1
January
2023
£
40,446
15,919
6,250
-
-
62,615
21,464
84,079|Incoming
resources
£
30,041
25,000
1,050
2,500
5,000
63,591
173,568
237,159
Incoming
resources
£
-
33,000
28,750
10,000
1,000
72,750
252,502
325,252|Resources
expended
£
12,511
23,038
2,050
2,500
5,000
45,099
243,458
288,557
Resources
expended
£
14,274
48,919
21,460
10,000
-
94,653
200,836
295,489|At 31
December
2024
£
43,703
15,502
-
-
-
59,205
3,240
62,445
At 31
December
2023
£
26,173
-
13,540
-
1,000
40,713
73,130
113,843|
|---|---|---|---|---|
Page 25
## **Fat Macy's Foundation**
## **Notes to the Financial Statements for the year ended 31 December 2024**
## **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.
Transactions took place during the year between the charity and Fat Macy’s Limited in the normal course of activities. These included donations, shared use of premises, and services. Except for the free use of the charity’s van, transactions were undertaken on normal commercial terms.
At 31 December 2024 the charity was owed £3,107 (2023: £782) by Fat Macy’s Ltd.
Page 26
**REFERENCE NUMBER 8D3C5185-BC5D-4A3E-80EB-354901438978**
## **SIGNATURE CERTIFICATE**
|**TRANSACTION DETAILS**|**DOCUMENT DETAILS**|
|---|---|
|**Reference Number**|**Document Name**|
|**8D3C5185-BC5D-4A3E-80EB-354901438978**|**4440 Final Charity Accounts 31-Dec-24 Fat Macy s Foundation 251015**|
|**Transaction Type**|**Filename**|
|**Signature Request**|**4440_Final_Charity_Accounts_31-Dec-24_Fat_Macy_s_Foundation_251015.pdf**|
|**Sent At**|**Pages**|
|**17/10/2025 07:58:44 AM +00**|**28 pages**|
|**Executed At**|**Content Type**|
|**27/10/2025 08:52:05 AM +00**|**application/pdf**|
|**Identity Method**|**File Size**|
|**email**|**2.5 MB**|
|**Distribution Method**|**Original Checksum**|
|**email**|**a0e1bbc2e972d21b3bce5d0544f066868735754f99a8996873960437dc7912de**|
|**Signed Checksum**||
**ab2fa66f7918775d86ed1e9c82b6110ff23442616b2c4ca7dc369878b32e4a2c**
**Signer Sequencing Enabled Document Passcode Disabled**
## **SIGNERS**
|**SIGNER**|**E-SIGNATURE**|**EVENTS**|
|---|---|---|
|**Name**|**Status**|**Viewed At**|
|**David Wilsdon**|**signed**|**27/10/2025 08:50:12 AM +00**|
|**Email**|**Multi-factor Digital Fingerprint Checksum**|**Identity Authenticated At**|
|**david@greenaccountancy.com**|**4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945**|**27/10/2025 08:52:05 AM +00**|
|**Signer Sequence**|**IP Address**|**Signed At**|
|**1**|**79.30.78.58**|**27/10/2025 08:52:05 AM +00**|
|**Components**|**Device**||
|**2**|**Chrome Mobile iOS via iOS**||
||**Typed Signature**||
**Signature Reference ID AA9E55A5**
|**Name**|**Status**|**Viewed At**|
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|**Christopher Attoe**|**signed**|**23/10/2025 06:05:10 PM +00**|
|**Email**|**Multi-factor Digital Fingerprint Checksum**|**Identity Authenticated At**|
|**chris.attoe1@gmail.com**|**4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945**|**23/10/2025 06:06:40 PM +00**|
|**Signer Sequence**|**IP Address**|**Signed At**|
|**0**|**82.132.220.15**|**23/10/2025 06:06:40 PM +00**|
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||**Drawn Signature**||
**Signature Reference ID 32F1C714 Signature Biometric Count 1 Drawn Signature**
**Signature Reference ID 24D79AC9 Signature Biometric Count 1**
**AUDITS**
## **TIMESTAMP**
**17/10/2025 07:58:44 AM +00**
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## **AUDIT**
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