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2024-03-31-accounts

Charity Registration No. 1188412

WOLO FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

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One Bell Lane
Lewes
East Sussex
BN7 1JU
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WOLO FOUNDATION

CONTENTS

Page
Company information 1
Trustees report 2 - 10
Statement of Trustees responsibilities 11
Independent examiner's report 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 27

WOLO FOUNDATION

COMPANY INFORMATION

Trustees Mrs F Wright
Ms S Aiken
Ms C Boorman
Ms C M Hermon
Mr J Wright
Mr S MacLean
Mr A Whisker
Ms J Merritt (Appointed 30 January 2024)
Charity number 1188412
Principal address Sheep Cottage
Chyngton Lane
Seaford
East Sussex
BN25 4BT
Independent examiner TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU

WOLO FOUNDATION

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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

The aim of the charity is to relieve the financial hardship of families* living in Sussex who are affected by cancer by providing goods/services that they could not otherwise afford due to a lack of means or by providing or paying for items, services, or facilities through the provision of goods or services.

*The definition of ‘families’ is those with a child or children under 16 years at the time of diagnosis.

Wolo Foundation helps to improve the quality of life of families in Sussex on their cancer journeys. They offer practical help and support to make their day-to-day lives easier. They work with local businesses and communities to offer families a wealth of services to support them through their diagnosis, treatment, and beyond.

Every family is unique and every cancer is different. Wolo's bespoke approach recognises that people don't always know what they need. Wolo offers all family members emotional guidance and practical help. For individuals, we offer mental health support (coaching, mentoring and therapy) and complementary therapies. Families can take part in our events and become part of the Wolo community through walks, talks and experiences. We also offer practical help with cleaning, childcare or maintenance alongside legal services. When a parent can't work the financial impact can be immediate. Sometimes we simply buy them the things they need - an oven, medical equipment or toys.

Accessing Wolo

Anyone with a cancer diagnosis living in Sussex with a child or children under the age of 16 years at the point of diagnosis is eligible for support.

Families find out about our services through other charities, their GP’s or Clinical Nurse Specialists, social media, leaflets, podcasts and word of mouth. All families complete an initial holistic assessment which collects their details and highlights the struggles they are facing physically, emotionally and financially. This helps us to quickly pinpoint how best to support them on their cancer journey. We work hard to establish trusting relationships with every family and this assessment is the starting point which highlights their thoughts, feelings and ideas about how we can best support them. We listen rather than tell them what we think. As we get to know them, we may suggest additional ideas of activities and services, if that feels welcome.

“The personal touch has been entirely apparent from the very beginning. At times, it feels like Wolo only exists to serve me and my family. It’s hard to believe that Fler and Justin are able to give this much care and attention to all of the families that Wolo are currently helping out.”

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

We do not have a waiting list for our services. We know how it feels to receive a cancer diagnosis so telling families there is a waiting list when they desperately want help, would go against our ethos of working to make life easier for families affected by cancer. Instead; we triage families to ensure the best use of our funding and resources. We have created an internal system to help with this based on our own historical data. Families are placed in one of three categories, which are selected depending on various factors including prognosis, quality of life rating etc. Categories determine support offered and maximum expenditure thresholds. Families move between them as their circumstances change. We aim to review them every 3-6 months to ensure we are keeping abreast of their journeys.

Our Work

Support

Regular communication ensures we can quickly react to a family’s ever-changing needs. We offer informal inperson chats at our office or local to the family (whichever is easiest for them) to talk through issues and seek solutions. Regular educational workshops both in-person and online help to reduce isolation and loneliness and enable experiences, facts and myths to be shared; helping to educate and reassure those in the Wolo community. Families on similar journeys are introduced, and all families have access to relevant groups based on their interests and needs, and are able to communicate with each other and Team Wolo in various ways. Emotional support is an integral part of the service Wolo provides, and an empathetic approach from previously lived experiences helps connect service users to Team Wolo.

‘Before Wolo we didn’t know anyone our age or with children who had cancer but now we have so many people to spend time with and talk to.’

Food

A huge percentage of Wolo families need help with the cost of food. Wolo has secured funding for online and inperson ‘cook-alongs’ helping families to bond, meet others with similar interests, try new foods and offer guidance on nutrition and batch-cooking methods to make food go further, reducing shopping bills. At the beginning of the cost of living crisis in late 2021, we applied for and received a grant to purchase supermarket vouchers for all families. The grant has long since been spent, but it was so successful that we have continued with the project, offering each new family the opportunity to apply for a £100 voucher for the supermarket of their choice. This gives them immediate relief, and the opportunity to spend it on food and other essentials such as underwear, school uniform or cooking utensils if needed. Families can apply for it more than once if they are struggling to pay for food.

We also work with qualified nutritionists to help those on restricted diets due to a diagnosis, or those who feel they need support with choosing healthier options for their family.

‘The children have enjoyed the cook-alongs so much that we have now introduced specific days each week where the children will choose a meal to cook from scratch. I personally feel it has aided with building friendships, and the girls have felt the same way.’

Therapies

We offer support to adults and children including physiotherapy, solution-focused hypnotherapy, counselling, bereavement support and play therapy. We also offer coaching, mentoring, and complementary therapies e.g. massage, acupuncture and reflexology. Services are offered depending on the individual needs of the family member.

Before therapy funded by Wolo - ‘Life was joyless and empty. Every aspect of my life was a challenge.’

FOR THE YEAR ENDED 31 MARCH 2024

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

After therapy funded by Wolo - ‘I feel like a totally different person. I am happy, positive, motivated and confident. Every day I get up and can do all the things I need to do. I am healthier as I make better food choices and exercise more. I have strategies to cope when things go wrong. I look forward to the future now.’

Events

Families can take part in our free events and become part of the Wolo community through walks, talks and experiences. Events range from a free family festival ‘WoloFest’, to fun activities such as Go-Karting or ice skating. Regular events help families to have fun and meet others on a similar journey. Adult-only meets help to encourage friendships, and attendees can discuss difficult topics in a safe space free of judgement and without worrying about their children overhearing things. Child-only activities such as bush-craft, foster a sense of adventure and exploration, which are particularly therapeutic for children navigating the emotional and psychological impacts of illness.

‘Wolo are amazing. They helped all of us when my Daddy was having chemo. I’ve made some good friends and I still really like going to the events.’

Practical Help

Practical help can be anything from mowing the lawn, replacing a mattress/oven or dishwasher, to putting up a shed, organising a cleaner, helping to sort legal documents, end-of-life planning or assisting with preparing for surgery/treatment or funeral arrangements. When a parent can’t work the financial impact can be immediate and devastating. Practical things quickly move to the bottom of the priority list after a cancer diagnosis, so Wolo gives support where it is needed the most.

Wolo Shoebox

Devised as a result of personal experience, this toolkit is a document that, once completed by a family, is an essential resource in the event of emergencies or upon death. It helps families to get their affairs in order and keeps all of their vital information in one place.

It is available to purchase online, and is given to Wolo families free of charge.

Wolo Wellness Programme

Wellness with Wolo is an ongoing project aimed at increasing awareness of our physical and mental health and wellbeing. Giving individuals and families the opportunities to try different practices and activities to proactively enhance their lives. We want to inspire people to habitually prioritise self-care, to ensure they are surviving, thriving and living their best lives. We do this by offering free weekly yoga sessions, ice bath opportunities, breathwork, float spa experiences, gym memberships, laughing yoga, weekly walks, forest bathing and more.

We also offer an exclusive fully-funded 6-week wellness course which has been designed specifically to help families deal with the trauma of a cancer diagnosis. The course begins with a 3-day residential retreat, where participants connect with new friends and learn simple breathwork, meditation, movement and self-coaching techniques. This continues online for 6 weeks, where participants build upon the habits and techniques to embed them into their lives. The sessions continue beyond the course for those who need them.

‘I realised I was feeling like I was the main one responsible for (my husband’s) emotional mental state (during his cancer treatment). The moment that shifted was when he connected with Wolo. It was a bit of a revelation, especially with the wellbeing course. I noticed such a shift with him after that, and I just felt like he had people to share everything with that wasn’t just me, so I think i’d always thought that ‘wow that did such a lot for him’ but then suddenly I realised that him having such support just did such a lot for me too. I didn’t feel as alone with carrying him and whether he was okay through it.’

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

‘The course for me couldn’t have come at a better time. I needed that switch to be forced as I couldn’t do it myself. Learning how to cope and the fact it’s fine to be vulnerable has reinvented the person I am and will remain to be.’

‘I really enjoyed the course. Loved the venue, the food, the company, the techniques we learned and the space for ‘me’. I will continue to use the tools throughout my life, so they have been very beneficial. I also feel a strong sense of belonging within the cohort. Thank you for this unique opportunity!’

We work with families for as long as they need our help, through diagnosis, treatment and beyond.

Statistics show that 1 in 2 people in the UK born after 1960 will be diagnosed with cancer in their lifetime. Life is precious - we need to make the most of it - we only live once - WOLO!

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

What started as a small charity has grown exponentially over 4 years. Flourishing organically, we now support over 150 families. Wolo has become an integral part of the Sussex community and is a lifeline for families. Cancer is such an isolating illness, not only for the individual diagnosed but for their close family. Wolo supports the whole family for as long as they need help. There are no other charities out there that do this. Wolo’s ethos is to collaborate with local businesses, charities and communities to engage with local people. This ground-breaking work streamlines the support available, meaning families are supported on every level through their diagnosis, treatment and beyond.

Wolo is continually evolving through training, collaboration and experience. We listen closely to the families we support through discussion, surveys and feedback; and adapt services and locations to ensure their needs are met. We have made a huge impact on the local community, with many local businesses supporting us, including Knill James, Drusillas and The View Hotel in Eastbourne.

The brand we have created is subliminal and modern, and our ethos appeals to all - even those who haven’t been affected by cancer. Who doesn’t want to ‘live their best life' or ‘surround themselves with people who feel like sunshine’?

Our innovative fundraising ideas, frequent opportunities for ticking items off of one’s bucket list and public generosity have helped to raise almost £700k over the past 4 years. This unique approach means Wolo has fast become one of the leading charities in the area and is already inspiring others with our ideas, positivity and influence. Always going over and above, the bespoke, personal nature of Wolo is such a lifeline for so many who have nowhere else to turn.

Wolo have revolutionised cancer support, and are inspiring others to live their best lives. Our pioneering approach and continuous and innovative work building relationships with others ensures families are supported on every level.

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Recent feedback has included:

“When Daddy was in hospital and covered in wires, Wolo helped me to realise that there are other people who have experienced what I have, and to remind myself that the world is a happy thing. When Daddy died, we were all separated because we were grieving, but Wolo events helped to bring us together. I’ve really enjoyed the fun days out and I love the message of ‘we only live once”

“Wolo are amazing. They helped all of us when my daddy was having chemo. I’ve made some good friends and I still really like going to the events.”

“Better than any other service provider for mental health and wellbeing.”

“The personal touch has been entirely apparent from the very beginning. At times, it feels like Wolo only exists to serve me and my family. It’s hard to believe that Fler and Justin are able to give this much care and attention to all of the families that Wolo are currently helping out.”

https://wolofoundation.org/what-is-wolo

Policy on grant making

Wolo is not a grant making charity, instead we help by purchasing products or services for families in need.

Contribution made by volunteers

This is an ongoing project. We are building a catalogue of supportive trades/professionals that Wolo can rely on to deliver the range of services needed by families.

Where we can, we signpost people to those already delivering the work - we don't duplicate. We work with local businesses to get the best value and service as possible. We are passionate about collaborating with others.

We have a number of volunteers to help facilitate events, and one other to help with admin. We are adding to this pool all of the time. Our ambassadors are also all volunteers.

One trustee resigned during the year, as a result we recruited one new trustee - we have a wide range of skills on the board as well as a quorum - all helping to streamline the logistics and helping the charity to grow.

Other

The continued support from the general public has been amazing, and we are extremely grateful for the commitment they have shown in volunteering, donating items, helping to raise funds and spreading awareness.

Achievements against objectives set

100% of the families we have supported feel that Wolo have made a positive impact on their cancer journey/ family. 82% rated this impact as 10/10.

Families complete an online Holistic Family Assessment, where we take the baseline of their current circumstances and concerns. At regular intervals we check in with the family to assess where they are through informal conversations and evaluation forms.

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

We offer opportunities for; - Improved wellbeing - Increased self-care - Inceeased confidence We offer opportunities for families to; - Make more memories - Increase family fun - Encourage closer relationships

We also aspire to; - Reduce loneliness - Help individuals feel more supported - Encourage more friendships

We have helped to reduce isolation and loneliness through by continuing to organise and facilitate family events. These are well attended and feedback is sought after each one to help gain powerful insight on how the event benefitted attendees, and what we could do to improve them. One benefit that is highlighted from these events is that newly affected families gain so much knowledge, support and friendship from meeting Wolo families that have been on a similar journey.

Wolo Wellness has proved vital for a lot of our families. It’s an ever evolving project headed by our Wellness Coordinator, Sam, and is aimed at increasing awareness of our physical and mental health and wellbeing. Wellness with Wolo gives individuals and families the opportunity to try different practices and activities to proactively enhance their lives. We want to inspire people to habitually prioritise self-care, to ensure they are surviving, thriving and living their best lives. We also offer families short local respite breaks, to help them to spend quality time together and make memories. Regular family events, walks, talks and days out help to build the Wolo community, so that families feel supported on every level.

Spring 2023 saw the pilot of our new wellness course. Designed to help attendees develop tools and coping strategies to help deal with the trauma and difficulties faced when living with cancer. We have found that the hardest part of the cancer journey is the ability to move forward without fear of reoccurrence, lack of self-purpose and loss of hope for a normal/healthy/ happy life. The course aims to enable members to live each day with better mental health, hope and fulfilment and a vision of a brighter future. To allow the negativity to come in and leave again without a harmful impact on mental and physical health.

The course began with a 3-day residential retreat. Participants connected with new friends and learnt simple breathwork, meditation, movement and self-coaching techniques. This continued online for 6 weeks, where participants built upon the habits and techniques to embed them into their lives. We were able to run 2 courses during this period and both were extremely successful. It had a huge impact on attendees.

‘I realised I was feeling like I was the main one responsible for (my husband’s) emotional mental state (during his cancer treatment). The moment that shifted was when he connected with Wolo. It was a bit of a revelation, especially with the wellbeing course. I noticed such a shift with him after that, and I just felt like he had people to share everything with that wasn’t just me, so I think i’d always thought that ‘wow that did such a lot for him’ but then suddenly I realised that him having such support just did such a lot for me too. I didn’t feel as alone with carrying him and whether he was okay through it.’

‘The course for me couldn’t have come at a better time. I needed that switch to be forced as I couldn’t do it myself. Learning how to cope and the fact it’s fine to be vulnerable has reinvented the person I am and will remain to be.’

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

‘I really enjoyed the course. Loved the venue, the food, the company, the techniques we learned and the space for ‘me’. I will continue to use the tools throughout my life, so they have been very beneficial. I also feel a strong sense of belonging within the cohort. Thank you for this unique opportunity!’

88% found new friendships 70% felt the rest was essential 82% found personal insight and a sense of calmness. 70% gained confidence 88% felt motivated to continue with the Breathwork, TRE and Cold water therapy 82% felt safe within the cohort and was able to open up. 88% gained nutrition insight.

Financial review

We raised a total of £235,859 in this financial year.

Focus Foundation £9,986
Lewes Rotary Club £1,818
The National Lottery £10,000
Ernest Kleinwort £3,000
Sussex Community Foundation/Rampion- electric van £10,000
Alburt Hunt £5,000

At present there are 8 trustees - Mrs F Wright, Mr J Wright and Ms S Aiken receiving pay on a self-employed basis. The maximum hours worked and hourly rates have been reviewed and agreed by the remaining trustees ( C.Boorman, J.Merritt, C.Hermon, A.Whisker and S. Maclean). This is to be reviewed in March 2025.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.

One-off purchases

We purchased an electric vehicle in 2023. This was part-funded by Rampion and part-funded by Ocean Dadventure (a community team that rowed across the Atlantic to raise funds for us!). It has been our biggest purchase to date. The ‘Wolo Wagon’ as we call it, is used daily. It was generously sign-written by one of our Wolo 100 Club members - Sussex Signs, and is a great way to raise awareness of our work as we drive around Sussex. It is fully electric so also aligns with our efforts to take care of the beautiful world we live in.

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

Wolo Foundation is a Charitable Incorporated Organisation (CIO). Our constitution document is dated 10th December 2019 and was signed by the trustees at the point of submission. It includes all of the required information and has been approved by the Charities Commission.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mrs F Wright Ms S Aiken M Boshoff (Resigned 19 October 2023) Ms C Boorman Ms C M Hermon Mr J Wright Mr S MacLean Mr A Whisker Ms J Merritt (Appointed 30 January 2024)

Wolo Foundation recognises that an effective board of trustees is essential if the charity is to be effective in achieving its objects. The board must seek to be representative of the people with whom the charity works and must have available to it all of the knowledge and skills required to run the charity. Individual trustees must have sufficient knowledge, both of trusteeship in general and of the Charity's activities, to enable them to carry out their role and to represent the Charity at meetings and other events.

Our constitution document details the eligibility requirements, appointment and roles of trustees. Wolo appointed one new trustee during the period, to replace the Trustee that resigned due to personal commitments.

We advertised the vacancy on LinkedIn, on our website and on other social media platforms. We invited all applicants to submit a proposal detailing why they wanted to be considered for the position and what they could bring to the Board. Wolo then conducted online interviews with shortlisted applicants. The successful applicant was chosen as they were able to demonstrate they have the necessary skills, knowledge and experience needed for the effective administration of the CIO. They received a copy of our latest accounts and constitution document, signed the required paperwork required by the Charities Commission and submitted official identification. A DBS was also completed.

Every trustee is appointed for a term of two years by a resolution passed at a properly convened meeting of the charity trustees. Currently, three of the Board have been directly affected by cancer. Others have friends/family who have been on a cancer journey. Two of the trustees are related (the co- founders are trustees and are married), and the remaining six are all unrelated and form an independent Board.

‘Their unique approach means Wolo has fast become one of the leading charities in the area and is inspiring others with their ideas, positivity and influence. Always going over and above; the bespoke, personal nature of Wolo is such a lifeline for so many who have nowhere else to turn.’

Remember, life is precious, we need to make the most of it - We only live once - Wolo!

WOLO FOUNDATION

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees report was approved by the Board of Trustees.

Mr A Whisker Trustee

16 January 2025

WOLO FOUNDATION

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

WOLO FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WOLO FOUNDATION

I report to the trustees on my examination of the financial statements of Wolo Foundation (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable 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 that in any material respect:

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 financial statements to be reached.

N Rawson FCA on behalf of TC Group

One Bell Lane Lewes East Sussex BN7 1JU

Dated: 20 January 2025

WOLO FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
2
116,340
73,554
Other trading activities
3
47,375
-
Investments
4
90
-
Total income
163,805
73,554
Expenditure on:
Raising funds
5
42,347
20,204
Charitable activities
6
171,496
48,698
Total expenditure
213,843
68,902
Net income/(expenditure) and
movement in funds
(50,038)
4,652
Reconciliation of funds:
Fund balances at 1 April 2023
74,002
9,257
Fund balances at 31 March
2024
23,964
13,909		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
189,894
161,220
22,850
47,375
50,691
-
90
-
-
237,359
211,911
22,850
62,551
48,328
-
220,194
108,523
21,379
282,745
156,851
21,379
(45,386)
55,060
1,471
83,259
18,942
7,786
37,873
74,002
9,257		 Total
2023
£
184,070
50,691
-
234,761
48,328
129,902
178,230
56,531
26,728
83,259

WOLO FOUNDATION

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
12
Current assets
Stocks
13
1,500
Debtors
14
11,154
Cash at bank and in hand
19,483
32,137
Creditors: amounts falling due within one
year
15
(20,027)
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
18
Unrestricted funds
19		 £
25,763
12,110
37,873
13,909
23,964
37,873		 2023
£
1,500
39,170
47,346
88,016
(5,875)		 £
1,118
82,141
83,259
9,257
74,002
83,259

The financial statements were approved by the trustees on 16 January 2025

Mr A Whisker

Trustee

FOR THE YEAR ENDED 31 MARCH 2024

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

Charity information

Wolo Foundation is a charitable incorporated organisation (CIO) incorporated in England and Wales.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.3 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% reducing balance Computers 3 years straight line basis Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FOR THE YEAR ENDED 31 MARCH 2024

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity 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 charity's balance sheet when the charity 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 operations 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 charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
96,240
37,500
Grants
20,100
36,054
116,340
73,554
Donations and gifts
Chris Goodman
-
30,000
Dadventure
-
-
Drusillas
-
-
Cumnor House
-
-
Creative Pod
-
-
NIO
-
5,000
Piranha Seafoods
2,000
-
Ernest Kleinwort
-
2,500
Other
94,240
-
96,240
37,500
Grants
Chalk Cliff Trust
-
-
Sussex Community
Foundation
-
3,750
Sussex Community
Foundation - Rampion
-
2,500
John Jackson
-
-
Arnold Clark
-
-
Sussex Masonic
Charitable Foundation
20,000
-
Focus Foundation
-
9,986
Lewes Rotary club
-
1,818
The National Lottery
-
10,000
Albert Hunt
-
5,000
Ernest Kleinwort
-
3,000
Other
100
-
20,100
36,054		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
133,740
155,220
13,000
56,154
6,000
9,850
189,894
161,220
22,850
30,000
-
12,500
-
45,233
-
-
3,643
-
-
22,520
-
-
-
500
5,000
-
-
2,000
-
-
2,500
-
-
94,240
83,824
-
133,740
155,220
13,000
-
5,000
-
3,750
-
6,250
2,500
-
-
3,600
-
1,000
-
20,000
-
-
9,986
-
-
1,818
-
-
10,000
-
-
5,000
-
-
3,000
-
-
100
-
-
56,154
6,000
9,850		 Total
2023
£
168,220
15,850
184,070
12,500
45,233
3,643
22,520
500
-
-
-
83,824
168,220
5,000
6,250
3,600
1,000
-
-
-
-
-
-
-
15,850

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Other trading activities

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Fundraising events 46,464 48,093
Shop income 911 2,598
47,375 50,691
Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 90 -
Raising funds
Unrestricted Restricted **Total ** Unrestricted
funds funds funds
2024 2024 2024 2023
£ £ £ £
Staging fundraising events 42,347 20,204 62,551 48,328
42,347 20,204 62,551 48,328

4 Income from investments

5 Raising funds

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on charitable activities

Supporting Supporting
families families
affected by affected by
cancer cancer
2024 2023
£ £
Direct costs
Staff costs 31,837 11,674
Depreciation and impairment 9,078 719
Supporting families affected by cancer 61,215 43,848
Travel costs 1,174 489
103,304 56,730
Share of support and governance costs (see note 7)
Support 109,362 66,488
Governance 7,528 6,684
220,194 129,902
Analysis by fund
Unrestricted funds 171,496 108,523
Restricted funds 48,698 21,379
220,194 129,902

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7
Support costs
IT software and
consumables
Printing and stationery
Finance costs
Postage costs
Advertising
Insurance
Rent
Subscriptions
Management fees
Staff training and welfare
Motor vehcile expenses
Repairs and maintenance
Entertainment
Legal and professional
Trustee meetings and
office costs
Bank fees
Trustee expenses
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
2,247
-
680
-
2,325
-
90
-
7,427
-
218
-
3,100
-
548
-
84,790
-
4,246
-
1,897
-
1,332
-
462
-
-
5,202
-
2,323
-
3
-
-
109,362
7,528
109,362
7,528		 2024
£
2,247
680
2,325
90
7,427
218
3,100
548
84,790
4,246
1,897
1,332
462
5,202
2,323
3
-
116,890
116,890		 Support
costs
Governance
costs
£
£
3,080
-
904
-
2,906
-
170
-
4,906
-
259
-
1,801
-
679
-
51,013
-
770
-
-
-
-
-
-
-
-
3,884
-
1,214
-
53
-
1,533
66,488
6,684
66,488
6,684		 2023
£
3,080
904
2,906
170
4,906
259
1,801
679
51,013
770
-
-
-
3,884
1,214
53
1,533
73,172
73,172

Governance costs - Legal and professional fees includes payments to the independent examiner of £5,136(2023 - £1,256). Of these fees, £3,444 (2023 - £1,056) relates to independent examination fees.

8 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 9,078 719

FOR THE YEAR ENDED 31 MARCH 2024

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

9 Trustees

Fler Wright and Justin Wright are responsible for the day to day management of the charity as delegated by the Board of Trustees and receive remuneration for their work. Remuneration is paid for the running of the charity and not for being a trustee. Samantha Aiken also acted as the charity treasurer during the year.

During the year Fler Wright received £32,318 (£2023 - £16,377), Justin Wright received £36,105 (£2023 - £30,037) and Samantha Aiken received £16,367 (£2023 - £4,598).

Trustee reimbursed expenses totalled £3,976 (2023 - £1,533). These expenses relate to telephone costs, meeting costs, travel costs, motor costs, welfare costs as well as other costs relating to supporting families. There was also reimbursement for the use of storage space.

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
2 2
Employment costs 2024 2023
£ £
Wages and salaries 31,282 11,489
Other pension costs 555 185
31,837 11,674

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

12
Tangible fixed assets
Plant and
equipment
Computers Motor vehicles
£
£
£
Cost
At 1 April 2023
1,020
1,379
-
Additions
1,376
3,357
28,990
At 31 March 2024
2,396
4,736
28,990
Depreciation and impairment
At 1 April 2023
255
1,026
-
Depreciation charged in the year
535
1,295
7,248
At 31 March 2024
790
2,321
7,248
Carrying amount
At 31 March 2024
1,606
2,415
21,742
At 31 March 2023
765
353
-
13
Stocks
2024
£
Finished goods and goods for resale
1,500
14
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
5,000
Other debtors
3,929
Prepayments and accrued income
2,225
11,154		 Total
£
2,399
33,723
36,122
1,281
9,078
10,359
25,763
1,118
2023
£
1,500
2023
£
29,844
1,099
8,227
39,170

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
16
Trade creditors
Other creditors
Accruals
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024		 2024
£
315
7,500
867
8,836
2,509
20,027
2024
£
7,500
2024
£
7,500
3,750
(3,750)
7,500
7,500		 2023
£
48
3,750
510
101
1,466
5,875
2023
£
3,750
2023
£
3,750
-
-
3,750
3,750

16 Deferred income

During the year £7,500 was deferred in relation to a grant for a new electric van. This amount will be released in line with the depreciation rate (25% reducing balance) of the electric van which was purchased in the year.

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

17 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 555 185

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
Provision of food parcels 600 3,750 (4,350) -
Family collection 7,456 5,000 (4,572) 7,884
Marketing sponsroship 376 - - 376
Chris Goodman salary grant 825 30,000 (30,004) 821
Family events - 10,000 (7,706) 2,294
Wellbeing fund - 14,986 (16,770) (1,784)
Therapies fund - 5,500 (3,000) 2,500
Electric Van fund - 2,500 (2,500) -
Sound equipment fund - 1,818 - 1,818
9,257 73,554 (68,902) 13,909
Previous year: At 1 April 2022 Incoming Resources At 31 March
resources expended 2023
£ £ £ £
Provision of food parcels - 6,250 (5,650) 600
Family collection 7,786 - (330) 7,456
Marketing sponsorship - 500 (124) 376
Chris Goodman salary grant - 12,500 (11,675) 825
Family events - 3,600 (3,600) -
7,786 22,850 21,379 9,257

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

18 Restricted funds

(Continued)

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
General funds 74,002 163,805 (213,843) 23,964
Previous year: At 1 April 2022 Incoming Resources At 31 March
resources expended 2023
£ £ £ £
General funds 18,942 211,911 (156,851) 74,002
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 18,263 7,500 25,763
Current assets/(liabilities) 5,701 6,409 12,110
23,964 13,909 37,873

20 Analysis of net assets between funds

WOLO FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

20 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 1,118 - 1,118
Current assets/(liabilities) 72,884 9,257 82,141
74,002 9,257 83,259

21 Related party transactions

During the year Justin Wright (Trustee) was overpaid £3,929 for his role in the day to day management of the charity. This amount is included in other debtors and has since been repaid.

Included within other creditors is £8,808 due to trustees for their roles in the day to day management of the charity. The trustees include Fler Wright, Justin Wright and Samantha Aiken.

There is further disclosure around trustee renumeration and reimbursed expenses in the trustees note.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

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