REGISTERED CHARITY NUMBER: 1174107
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FOR
THE ROOTS FOUNDATION WALES
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
THE ROOTS FOUNDATION WALES
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE ROOTS FOUNDATION WALES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The purpose of The Roots Foundation Wales as set out in its governing document is to support young people in care, transitioning out of care and their carers.
We provide activities and learning opportunities that are fun, developmental and supportive both after school and in holiday time for young people aged 4-18 to support them to develop and grow and learn to live independently once they leave the care systems. Activities include on site workshops, youth groups and activities as well as offsite trips and visits. Three young people aged 16-18 live onsite in independent units and learn independent living skills and receive 1:1 support from registered youth workers.
The trustees have read and understood the guidance issued by the Charity Commission on public benefit.
Significant activities
The Roots Foundation Wales provides activities and learning opportunities that are fund, developmental and supportive both after school and in holiday time for young people aged 4-18 to support them to develop and grow and learn to live independently once they leave the care systems.
During the year we ran activities and workshops and youth clubs for 50+ young people aged 4-18. Offering them opportunities to spend time in a safe and supportive environment and to interact with trusted trained adults. This has enabled them to have fun, learn new skills and build confidence as well as finding other young people with shared lived experience for them to connect with.
Specific activities took place for children at risk of exploitation and centred around online safety, keeping safe and interpersonal relationships.
FINANCIAL REVIEW
Financial position
During the year the charity recorded a surplus of £94,800 (2022: £15,065).
As at 31 July 2023 the unrestricted reserves were £265,527 (2022: £170,727) and no restricted reserves were held. (2022: £nil).
Principal funding sources
The charity's main source of funds is received through a contract with Local Authority to provide accommodation and support to young people ages 16-18.
It also received independent grants and funds from other organisations.
Reserves policy
The trustees agree that reserves of 12 months running costs should be held to ensure continuity in times of financial hardship. The trustees consider that £150,000 is adequate to cover this.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
New trustees are recruited hen the number of trustees drops below five.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1174107
Principal address
Llywn Deri Hall Ravenhill Road Ravenhill Swansea SA5 5AW
Page 1
THE ROOTS FOUNDATION WALES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
Trustees
Mrs R L Shellard-Renna Mrs A Durham (appointed 25.4.23) Mrs H Edwards (appointed 17.5.23) Mrs G E Salman-Wali (appointed 18.7.23) Ms S B Din (appointed 25.4.23)
Independent Examiner
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Approved by order of the board of trustees on . 20/08/2024........................ and signed on its behalf by:
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........................................................................ Mrs A Durham - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROOTS FOUNDATION WALES
Independent examiner's report to the trustees of The Roots Foundation Wales
I report to the charity trustees on my examination of the accounts of The Roots Foundation Wales (the Trust) for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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 member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
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Michael Jones The Association of Chartered Certified Accountants
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Date: .... 20/08/2024........
Page 3
THE ROOTS FOUNDATION WALES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 5,846 Charitable activities 3 Support centre 253,547 Other income 20,131 Total 279,524 EXPENDITURE ON Charitable activities Support centre 184,724 NET INCOME 94,800 RECONCILIATION OF FUNDS Total funds brought forward 170,727 TOTAL FUNDS CARRIED FORWARD 265,527 |
Restricted funds £ - 43,843 - 43,843 43,843 - - - |
2023 Total funds £ 5,846 297,390 20,131 323,367 228,567 94,800 170,727 265,527 |
2022 Total funds £ 9,255 192,546 - |
|---|---|---|---|
| 201,801 | |||
| 186,736 | |||
| 15,065 155,662 |
|||
| 170,727 |
The notes form part of these financial statements
Page 4
THE ROOTS FOUNDATION WALES
BALANCE SHEET 31 AUGUST 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 6,040 CURRENT ASSETS Debtors 8 87,337 Cash at bank and in hand 176,737 264,074 CREDITORS Amounts falling due within one year 9 (4,587) NET CURRENT ASSETS 259,487 TOTAL ASSETS LESS CURRENT LIABILITIES 265,527 NET ASSETS 265,527 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - |
2023 Total funds £ 6,040 87,337 176,737 264,074 (4,587) 259,487 265,527 265,527 265,527 265,527 |
2022 Total funds £ 6,728 - 167,365 167,365 (3,366) 163,999 170,727 170,727 170,727 170,727 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ....20/08/2024............. and were signed on its behalf by:
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............................................. A Durham - Trustee
The notes form part of these financial statements
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THE ROOTS FOUNDATION WALES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Government and other grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Donations, are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Accommodation income is recognised in the period to which it relates.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
Taxation
The charity is exempt from tax on its charitable 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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.
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THE ROOTS FOUNDATION WALES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES - continued
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
2. DONATIONS AND LEGACIES
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Donations | 5,846 | 9,255 |
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THE ROOTS FOUNDATION WALES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
3. INCOME FROM CHARITABLE ACTIVITIES
| INCOME FROM CHARITABLE ACTIVITIES | ||
|---|---|---|
| Activity Accommodation Support centre Grants Support centre Grants received, included in the above, are as follows: Children in Need Lloyds Bank Foundation CC Swansea NLCF Tudor Trust National Children Swansea Council Youth Funding Groundwork UK The Neighbourly Foundation National Lottery - Awards for All |
2023 £ 224,797 72,593 297,390 2023 £ 34,043 27,250 - - 2,000 - - 500 1,000 7,800 72,593 |
2022 £ 72,315 120,231 |
| 192,546 | ||
| 2022 £ 17,012 25,000 6,000 23,899 47,000 570 750 - - - |
||
| 120,231 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
5. STAFF COSTS
| Wages and salaries | 2023 £ 159,309 159,309 |
2022 £ 134,139 |
|---|---|---|
| 134,139 |
The key management personnel of the charity comprised of the trustees and the CEO. During the year, the total employee benefits of the key management personnel of the charity were £21,533.
The average monthly number of employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Total staff | 17 | 17 |
No employees received emoluments in excess of £60,000.
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THE ROOTS FOUNDATION WALES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 9,255 - Charitable activities Support centre 192,546 - Total 201,801 - EXPENDITURE ON Charitable activities Support centre 186,736 - NET INCOME 15,065 - RECONCILIATION OF FUNDS Total funds brought forward 155,662 - TOTAL FUNDS CARRIED FORWARD 170,727 - 7. TANGIBLE FIXED ASSETS Fixtures Plant and and Computer machinery fittings equipment £ £ £ COST At 1 September 2022 2,310 1,120 3,298 Additions - - 731 At 31 August 2023 2,310 1,120 4,029 DEPRECIATION Charge for year 462 224 733 NET BOOK VALUE At 31 August 2023 1,848 896 3,296 At 31 August 2022 2,310 1,120 3,298 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Other debtors 87,337 |
Total funds £ 9,255 192,546 |
|---|---|
| 201,801 | |
| 186,736 | |
| 15,065 155,662 |
|
| 170,727 | |
| Totals £ 6,728 731 7,459 1,419 6,040 6,728 2022 £ - |
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THE ROOTS FOUNDATION WALES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Taxation and social security Other creditors 10. MOVEMENT IN FUNDS At 1.9.22 £ Unrestricted funds General fund 170,727 TOTAL FUNDS 170,727 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 279,524 Restricted funds Children in Need 34,043 Tudor Trust 2,000 National Lottery - Awards for All 7,800 43,843 TOTAL FUNDS 323,367 Comparatives for movement in funds At 1.9.21 £ Unrestricted funds General fund 155,662 TOTAL FUNDS 155,662 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 201,801 TOTAL FUNDS 201,801 |
2023 2022 £ £ 2,264 2,575 2,323 791 4,587 3,366 Net movement At in funds 31.8.23 £ £ 94,800 265,527 94,800 265,527 Resources Movement expended in funds £ £ (184,724) 94,800 (34,043) - (2,000) - (7,800) - (43,843) - (228,567) 94,800 Net movement At in funds 31.8.22 £ £ 15,065 170,727 15,065 170,727 Resources Movement expended in funds £ £ (186,736) 15,065 (186,736) 15,065 |
2022 £ 2,575 791 3,366 At 31.8.23 £ 265,527 |
2022 £ 2,575 791 |
|---|---|---|---|
| 3,366 | |||
| 265,527 | |||
| 15,065 |
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THE ROOTS FOUNDATION WALES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.21 £ 155,662 155,662 |
Net movement in funds £ 109,865 109,865 |
At 31.8.23 £ 265,527 |
|---|---|---|---|
| 265,527 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Children in Need Tudor Trust National Lottery - Awards for All TOTAL FUNDS |
Incoming resources £ 481,325 34,043 2,000 7,800 43,843 525,168 |
Resources Movement expended in funds £ £ (371,460) 109,865 (34,043) - (2,000) - (7,800) - (43,843) - (415,303) 109,865 |
Resources Movement expended in funds £ £ (371,460) 109,865 (34,043) - (2,000) - (7,800) - (43,843) - (415,303) 109,865 |
|---|---|---|---|
| - | |||
| 109,865 |
Restricted Funds
Tudor Trust - a grant received to be used towards the Centre Director's Salary.
Children in Need - this was used to fund our Children at Risk of Exploitation project and activities
National Lottery Awards for All - a grant from 'Summer of Fun' to fund food and activities for young people
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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THE ROOTS FOUNDATION WALES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Charitable activities Accommodation Grants Other income Sundry income Total incoming resources EXPENDITURE Charitable activities Wages Light and heat Telephone Sundries Staff costs Volunteer costs Office costs Activities Subscriptions Repairs and maintenance Rent Travel expenses Depn of plant & machinery Depn of fixtures & fittings Depn of computer equipment Support costs Governance costs Accountancy fees Total resources expended Net income |
2023 £ 5,846 224,797 72,593 297,390 20,131 323,367 159,309 5,067 490 1,384 - 16,965 - 20,494 2,369 11,068 4,443 1,694 462 224 733 224,702 3,865 228,567 94,800 |
2022 £ 9,255 72,315 120,231 |
|---|---|---|
| 192,546 - |
||
| 201,801 134,139 - - 8,876 20,773 22,440 508 - - - - - - - - |
||
| 186,736 - |
||
| 186,736 | ||
| 15,065 |
This page does not form part of the statutory financial statements
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