2021-04-30-accounts

Company Registration Number - 12559130

The Charity Registration Number is :- 1189403

Project Wingman Foundation Ltd

Report and Accounts

30 April 2021

Project Wingman Foundation Ltd

Report and accounts for the period ended 30 April 2021

Contents

	Page
Charity information		1
Trustees' Annual Report		1
Statement of trustees' responsibilities		5
Independent Auditors' Report		7
Funds Statements:-
Statement of Financial Activities		10
Movements in funds		11
Revenue Funds		11
Income and Expenditure account		12
Summary of funds		12
Balance sheet		13
Notes to the accounts		14

Project Wingman Foundation Ltd

Company Registration Number - 12559130

Trustees' Annual Report for the period from 16 April 2020 to 30 April 2021

The Trustees present their Report and Accounts for the period ended 30 April 2021, which also comprises the Directors' Report required by the Companies Act 2006.

Reference and administrative details

The charity name.

The legal name of the charity is:- Project Wingman Foundation Ltd.

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1189403.

Project Wingman Foundation was formed as a charitable company with Companies House on the 16th April 2020 and achieved formal registration with the Charity Commission on the 7th May 2020.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as a company limited by guarantee, registered under the Companies Act. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.

The trustees are all individuals.

The principal operating address, telephone number, email and web addresses of the charity

118 Pall Mall London, United Kingdom SW1Y 5EA

Email Address [e-mail] Web address https://www.projectwingman.co.uk/

The registered office of the charity for Companies Act purposes is the same as the operating address shown above.

1

Project Wingman Foundation Ltd

Company Registration Number - 12559130

Trustees' Annual Report for the period from 16 April 2020 to 30 April 2021

The Trustees in office on the date the report was approved were:-

	Appointed	Resigned
Prof Robert Joseph Bor	20/04/2020
Lynsey Helen Butcher	09/07/2020
Zoe Ann Ebrey	31/07/2020
Mark Nicholas Flippence	09/07/2020
Stuart Christopher Freeman	09/07/2020
Antony Goodman	16/04/2020
Richard Adam Griffin	13/08/2020
Claire Haigh	01/08/2021
Capt Emma Henderson	20/04/2020
Andrew Graham Johnston	10/08/2021
Esther Louise Lisowski	09/07/2020

The following persons served as Trustees during the period ended 30 April 2021 :-

Richard Leslie Bull	20/04/2020	31/07/2021
David William Fielding	20/04/2020	22/06/2020
Alexander Thomas Jolly	20/04/2020	31/07/2020
Geoffrey John Thorburn	31/07/2020	16/07/2021

The trustees who served as a trustee in the reporting period were as shown above.

All the trustees are also members of the charity.

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

Project Wingman Foundation Ltd's aim is to relieve the needs of people, particularly but not exclusively those suffering from mental health difficulties due to workplace stress, working in hospitals and other care establishments by the provision of facilities for respite, welfare and emotional support in the interests of social welfare with the object of enhancing their quality of life.

2

Project Wingman Foundation Ltd

Company Registration Number - 12559130

Trustees' Annual Report for the period from 16 April 2020 to 30 April 2021

The main activities undertaken in relation to those purposes during the period.

Project Wingman Foundation was founded in direct response to the massively increased pressure on frontline health and care workers caused by the Covid 19 pandemic. Volunteers from across the Airline industry set up dedicated lounges in NHS hospitals to look after NHS staff during their breaks providing vital well-being and mental health support. As obtaining suitable space in hospitals became more difficult the charity responded by taking their service mobile and acquired specially converted buses to visit hospitals.

The main activities undertaken during the period to further the charity's purpose for the public benefit.

Project Wingman has had lounges in more than 100 hospitals and provided support to thousands of frontline healthcare workers. Our work has been recognised with numerous awards and makes a real difference to the frontline healthcare workers we serve. Operating in frontline hospitals during a pandemic and repeated lockdowns has been severely challenging, and it is a testament to the value of the services we provide that our hosts, the frontline NHS hospitals, have been so keen to facilitate us. With our recent mobile lounges we hope to be able to visit many more locations in the future.

The contribution of volunteers during the period.

Project Wingman Foundation Ltd has received tremendous support with an incredible 6,500 volunteers responding to the call for help from across the UK airline industry. These volunteers are able to use their specialist skills and training to fully support the Hospital staff at times of great stress. All roles within the Charity are completely voluntary and the growth in services provided by the charity could not have happened without such incredible support.

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

Vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as below:

The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed, or as an additional charity trustee, provided that the limit on the number of charity trustees would not as a result be exceeded;

Bankers

Virgin Money - 48-50 Market Street, Manchester, M11PW

3

Project Wingman Foundation Ltd

Company Registration Number - 12559130

Trustees' Annual Report for the period from 16 April 2020 to 30 April 2021

Financial review

The charity's financial position at the end of the period ended 30 April 2021

The financial position of the charity at 30 April 2021 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity	2021 £ 49,772
	49,772
	49,772

Financial review of the position at the reporting date, 30 April 2021 .

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Income from unrestricted funds totalled £78,226 and restricted funds of £29,085, the major part being donations of £73,536. Total unrestricted expenditure amounted to £52,539, the major parts being bus maintenance and repairs of £7,527, lounge expenses of £16,062 and fundraising & marketing of £10,645.Therefore the result for the period was a surplus of £49,772.

Policies on reserves.

The trustees have the power to deposit or invest funds, employ a professional fund-manager, and arrange for the investments or other property of the charity to be held in the name of a nominee, in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000;

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

4

Project Wingman Foundation Ltd

Company Registration Number - 12559130

Trustees' Annual Report for the period from 16 April 2020 to 30 April 2021

Details of The Auditor

Eric Langer BSc FCA

Chartered Accountant & Statutory Auditor

8-10 Gatley Road Cheadle Cheshire SK8 1PY

Statement of Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .

In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

• to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

• select suitable accounting policies and apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

5

Project Wingman Foundation Ltd

Company Registration Number - 12559130

Trustees' Annual Report for the period from 16 April 2020 to 30 April 2021

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the auditor in relation to the Trustees' report is limited to examining the report and ensuring that , the report is consistent with the figures disclosed in the financial statements.

This report was approved by the board of trustees on 21 September 2021.

ANTONY GOODMAN Director and Trustee

6

Project Wingman Foundation Ltd

Independent auditors' report to the trustees of Project Wingman Foundation Ltd

Opinion

We have audited the financial statements of Project Wingman Foundation Ltd for the period ended 30 April 2021 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 30 April 2021, and of its incoming resources and

• ● application of resources, for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Project Wingman Foundation Ltd

Independent auditors' report to the trustees of Project Wingman Foundation Ltd

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its

We have nothing to report in respect of the following matters in relation to which

• adequate accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement set out on page 5 , the trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditors under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

Enquiries of management, including obtaining and reviewing supporting documentation, concerning policies and procedures relating to:

• -identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of

• ● non-compliance -detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; and

• -the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

• remuneration policies, key drivers for remuneration and bonus levels; and

Discussions among the engagement team regarding how and where fraud might occur in the financial statements and

• any potential indicators of fraud. The engagement team have experience of working with companies and this experience was relevant to the discussion about where fraud risks may arise.

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Project Wingman Foundation Ltd

Independent auditors' report to the trustees of Project Wingman Foundation Ltd

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in. The key laws and regulations we considered in this context included the Charities Act 2011 and FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Audit response to risks identified

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or noncompliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

• Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with

• ● provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• Enquiring of management concerning actual and potential litigation and claims;

• Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of

• ● material misstatement due to fraud;

• Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant

• ● authorities including Charity Commission and HMRC ;

• In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a

• ● potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Eric Langer BSc FCA - Senior Statutory Auditor

for and on behalf of Langer & Co Chartered Accountant & Statutory Auditor

8-10 Gatley Road Cheadle Cheshire SK8 1PY

This report was signed on 28 September 2021

9

Project Wingman Foundation Ltd - Statement of Financial Activities for the period ended 30 April 2021

Statement of Financial Activities (including the Income and Expenditure Account for the period from 16 April 2020 to 30 April 2021, as required by the Companies Act 2006)

Current year Unrestricted Funds 2021 £ Income & Endowments from: Donations & Legacies A1 39,451 Charitable activities A2 30,000 Other trading activities A3 3,775 Total income A 73,226 Expenditure on: Raising funds B1 11,794 Charitable activities B2 40,745 Total expenditure B 52,539 Net income for the year 20,687 Transfers between funds C 29,085 Net income after transfers A-B-C 49,772 49,772 Reconciliation of funds:- E Total funds carried forward 49,772 SOR P Ref Net movement in funds	Current year Restricted Funds 2021 £ 29,085 - - 29,085 - - - 29,085 (29,085) - - -	Current year Total Funds 2021 £ 68,536 30,000 3,775
		102,311
		11,794 40,745
		52,539
		49,772 -
		49,772
		49,772
		49,772

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All the prior year transactions were unrestricted items, and no further analysis is required

All activities derive from continuing operations

The notes attached on pages 14 to 24 form an integral part of these accounts.

10

Project Wingman Foundation Ltd - Statement of Financial Activities for the period ended 30 April 2021

The notes attached on pages 14 to 24 form an integral part of these accounts.

Project Wingman Foundation Ltd - Resources applied in the period ended 30 April 2021 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications of funds Net resources available to fund charitable activities	2021 £ 49,772 (63,000) -
	(13,228)

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.

The notes attached on pages 14 to 24 form an integral part of these accounts.

Movements in revenue and capital funds for the period from 16 April 2020 to 30 April 2021

Revenue accumulated funds

(From)/To unrestricted revenue funds Closing revenue funds Recognised gains and losses before transfers	Unrestricted Funds 2021 £ 20,687 20,687 29,085 49,772	Restricted Funds 2021 £ 29,085 29,085 (29,085) -	Total Funds 2021 £ 49,772
			49,772 -
			49,772

The notes attached on pages 14 to 24 form an integral part of these accounts.

11

Project Wingman Foundation Ltd - Statement of Financial Activities for the period ended 30 April 2021

Summary of funds	Unrestricted	Restricted	Total
	and	Funds	Funds
	Designated funds
	2021	2021	2021
	£	£	£
Revenue accumulated funds	49,772	-	49,772

Project Wingman Foundation Ltd

Income and Expenditure Account for the period from 16 April 2020 to 30 April 2021 as required by the Companies Act 2006

Income Income from operations Gross income in the period before exceptional items Gross income in the period including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Realised losses on disposals of social investments which are programme related Total expenditure in the period Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income	2021 £ 102,311
	102,311
	102,311
	34,445 6,300 11,794 -
	52,539
	49,772 -
	49,772
	49,772

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 14 to 24 form an integral part of these accounts.

12

Project Wingman Foundation Ltd - Balance Sheet as at 30 April 2021

Note SORP Ref Fixed assets A Tangible assets 9 A2 Current assets B Stocks B1 Debtors 11 B2 Cash at bank and in hand B4 Total current assets Creditors: amounts falling due within one year 12 C1 Net current assets The total net assets of the charity	2021 £ 56,700 186 8,585 36,621 45,392 (52,320) (6,928) 49,772	2021 £ 56,700 186 8,585 36,621 45,392 (52,320) (6,928) 49,772
		49,772

The total net assets of the charity are funded by the funds of the charity, as follows:-

Restricted funds

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-
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Unrestricted Funds

Unrestricted Revenue Funds 17 D3 49,772 49,772 Designated Funds Total charity funds 49,772

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The charity is subject to audit under charity legislation, and the report of the Charities Act auditor is on page 9. The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

ANTONY GOODMAN

Trustee Approved by the board of trustees on 21 September 2021

The notes attached on pages 14 to 24 form an integral part of these accounts.

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Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

The charity is a public benefit entity as defined by FRS102.

The charity is a company limited by guarantee registered in England.

Going Concern

The Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements.

Risks and future assumptions

The main risk facing the Charity is that revenue it receives from the general public should be insufficient to cover its future financial obligations. Therefore the view of the trustees is that sufficient cash reserves should be accumulated to allow for any reductions in revenue.

Policies relating to categories of income and income recognition.

Nature of income

Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Categories of Income

Voluntary income is received by way of donations, legacies and gifts and is included in full in the statement of financial activities when receivable.

Income from trading charitable activities by the way of sale of goods is included in full in the statement of financial activities when receivable.

Income from trading charitable activities by the way of sale of services is included in the statement of financial activities when receivable, any deferred income shown within creditors on the balance sheet.

14

Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Accounting for deferred income and income received in advance

Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.

Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.

When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.

Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.

Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.

However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 6.

15

Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021 Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.

Plant and Machinery

10 % straight line

A regular annual review of the likelihood of asset impairment is undertaken.

Stocks and work in progress

Stock is valued at the lower of cost and net realisable value.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Financial instruments including cash and bank balances

Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

There are no designated funds in the charity.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.

There are no endowment funds.

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

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Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Significance of financial instruments to the charity's position

There are no significant financial instruments.

5 Net surplus before tax in the financial year

2021

£

The net surplus before tax in the financial year is stated after charging:-

Depreciation of owned fixed assets 6,300

6 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The charity had 6,500 Volunteers who donated their time. All roles within the charity are voluntary and the value in monetary terms has not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

7 Remuneration and payments to Trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

8 Deferred income - Unrestricted and Designated funds

Current Year Trading income received in advance Total These deferrals are included in creditors	Opening Deferrals £ -	Released from prior years £	Received less released in period £ 19,000	Deferred at year end £ 19,000
	-	-	19,000	19,000
			2021 £ 19,000

The deferrals included in creditors relate to income received in respect of services that have not yet been provided at the year end, and therefore represent those parts of unrestricted funds which relate to periods subsequent to the accounting year end and are treated as received in advance.

17

Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021

9 Tangible fixed assets

Current Year Land and Buildings £ Cost Additions - At 30 April 2021 - Depreciation Charge for the period - At 30 April 2021 - Net book value At 30 April 2021 - 10 Stocks & Work in Progress Stocks before write downs	Plant & Machinery £ 63,000	Motor Vehicles £ - - - - - 2021 £ 186	Total £ 63,000
	63,000		63,000
	6,300		6,300
	6,300		6,300
	56,700		56,700
		186

Analysis of the carrying value of stocks and work in progress by activities

Activity Fundraising activities 11 Debtors Trade debtors Prepayments and accrued income Other debtors 12 Creditors: amounts falling due within one year Trade creditors Accruals Deferred Income - Unrestricted & designated funds	2021 2020 £ £ - - Work in Progress	2021 2020 £ £ - - Work in Progress	Stocks 2021 £ 186
	-	-	186
			2021 £ 5,245 2,810 530
			8,585
			2021 £ 28,820 4,500 19,000
			52,320

18

Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021

13 Fund transfers

Current year At 16 April 2020 Transfers in the year At 30 April 2021 14 Income and Expenditure account summary At 16 April 2020 Surplus after tax for the year At 30 April 2021	Current year Unrestricted Funds 2021 £ - 29,085	Current year Restricted Funds 2021 £ - (29,085)	Current year Total Funds 2021 £ - -
	29,085	(29,085)	-
			2021 £ - 49,772
			49,772

15 No related party transactions

There were no transactions with related parties in the year.

16 Particulars of how particular funds are represented by assets and liabilities

At 30 April 2021 Tangible Fixed Assets Current Assets Current Liabilities At 16 April 2020	Unrestricted funds £ 56,700 45,392 (52,320)	Designated funds £ - -	Restricted funds £ - - -	Total Funds £ 56,700 45,392 (52,320)
	49,772	-	-	49,772
	Unrestricted funds £	Designated funds £	Restricted funds £	Total Funds £
	-	-	-	-

19

Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021 17 Change in total funds over the period as shown in Note 16 , analysed by individual funds

Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Restricted funds:- Bus Fund Total restricted funds Total charity funds	Funds brought forward from 2020 £ -	Movement in funds in 2021 See Note 18 £ 20,687	See Note 19 £ 29,085 Transfers between funds in 2021	Funds carried forward to 2022 £ 49,772
	-	20,687	29,085	49,772
	-	29,085	(29,085)	-
	-	29,085	(29,085)	-
	-	49,772	-	49,772

18 Analysis of movements in funds over the period as shown in Note 17

Unrestricted and designated funds:- Unrestricted Revenue Funds Restricted funds:- Bus Fund	Income 2021 £ 73,226 29,085	Expenditure 2021 £ (52,539) -	Other Gains & Losses 2021 £ - -	Movement in funds 2021 £ 20,687 29,085
	102,311	(52,539)	-	49,772

19 Details of transfers between funds in the period as shown in Note 17

To/(from) Restricted Revenue Funds Net transfers To/(from) Unrestricted Revenue Funds The transfers shown in note 17 above are:-	2021 29,085 ( 29,085)
	-

Funds of £29,085 were transferred from the restricted bus fund to unrestricted funds in order to purchase a bus.

20

Project Wingman Foundation Ltd

Notes to the Accounts for the period from 16 April 2020 to 30 April 2021

• 20 The purposes for which the funds as detailed in note 17 are held by the charity are:-

Unrestricted and designated funds:-

These funds are held for the meeting the objectives of the charity, and to Unrestricted Revenue Funds provide reserves for future activities, and subject to charity legislation, are free from all restrictions on their use.

Restricted funds:- Bus Fund The purpose of these funds is restricted to the purchase of buses.

21 Ultimate controlling party

The charity is under the control of its legal members.

Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

21

Project Wingman Foundation Ltd

Detailed analysis of income and expenditure for the period from 16 April 2020 to 30 April 2021 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

25 Donations, Grants and Legacies

Donations and gifts from individuals Legacies receivable Legacies receivable Donations from organisations Total Donations, Grants and Legacies Total Donations, Grants and Legacies A1 26 Income from charitable activities - Trading Activities Current year Primary purpose and ancillary trading Total Donations from organisations Total Primary purpose and ancillary trading Sale of goods and services in accordance with the charity's objects Donations from organisations Total legacies receivable Total donations and gifts from individuals The Freddie Green and family charitable trust Small donations individually less than £1000 Celtic FC Foundation	Current year Unrestricted Funds 2021 £ 20,451	Current year Restricted Funds 2021 £ 29,085	Current year Total Funds 2021 £ 49,536 54,536 Current year Total Funds 2021 £ 5,000 5,000 Current year Total Funds 2021 £ 9,000 9,000
	25,451	29,085
	Current year Unrestricted Funds 2021 £ 5,000	Current year Restricted Funds 2021 £ -
	5,000	-
	Current year Unrestricted Funds 2021 £ 9,000	Current year Restricted Funds 2021 £ -
	9,000	-
	39,451	29,085	68,536 Current year Total Funds 2021 £ 30,000 30,000
	Current year Unrestricted Funds 2021 £ 30,000	Current year Restricted Funds 2021 £ -
	30,000	-

22

Project Wingman Foundation Ltd

Detailed analysis of income and expenditure for the period from 16 April 2020 to 30 April 2021 as required by the SORP 2015

27 Total Income from charitable activities

Current year Total income from charitable trading Total from charitable activities A2	Current year Unrestricted Funds 2021 £ 30,000	Current year Restricted Funds 2021 £ -	Current year Total Funds 2021 £ 30,000
	30,000	-	30,000

28 Income from other, non charitable, trading activities

Total from other activities A3 Trading activities to raise funds for the charity	Current year Unrestricted Funds 2021 £ 3,775	Current year Restricted Funds 2021 £ -	Current year Total Funds 2021 £ 3,775
	3,775	-	3,775

29 Expenditure on charitable activities - Direct spending

Current Year Total direct spending B2a Travel and Subsistence - Charitable Activities	Current year Unrestricted Funds 2021 £ 3,348	Current year Restricted Funds 2021 £ -	Current year Total Funds 2021 £ 3,348
	26,937	-	26,937

23

Project Wingman Foundation Ltd

Detailed analysis of income and expenditure for the period from 16 April 2020 to 30 April 2021 as required by the SORP 2015

30 Support costs for charitable activities

Current year Current Year Unrestricted Funds 2021 £ Administrative overheads 827 120 898 16 - 1,042 - Professional fees paid to advisors other than the auditor or examiner 4,500 105 Financial costs 6,300 Support costs before reallocation 13,808 Total support costs - Current Year 13,808 Accountancy fees other than examination or audit fees Lounge Supplies Liabilty and contents insurance Membership subscriptions Bus Accessories, Maintenance and repair Computer costs Printing, Postage and Stationery Depreciation & Amortisation in total for the period Sundry expenses Other legal and professional	Current year Current Year Unrestricted Funds 2021 £ Administrative overheads 827 120 898 16 - 1,042 - Professional fees paid to advisors other than the auditor or examiner 4,500 105 Financial costs 6,300 Support costs before reallocation 13,808 Total support costs - Current Year 13,808 Accountancy fees other than examination or audit fees Lounge Supplies Liabilty and contents insurance Membership subscriptions Bus Accessories, Maintenance and repair Computer costs Printing, Postage and Stationery Depreciation & Amortisation in total for the period Sundry expenses Other legal and professional	Current year Restricted Funds 2021 £ - - - - - - - - - -	Current year Total Funds 2021 £ 827 120 898 16 - 1,042 - 4,500 105 6,300
	13,808	-	13,808 13,808
	13,808	-

The basis of allocation of costs between activities is described under accounting policies

All the expenditure in the prior year was unrestricted.

The basis of allocation of costs between activities is described under accounting policies

31 Total Charitable expenditure

Total Charitable expenditure
Current Year Total direct spending B2a Total support costs B2d Total charitable expenditure B2	Current year Unrestricted Funds 2021 £ 26,937 13,808	Current year Restricted Funds 2021 £ - -	Current year Total Funds 2021 £ 26,937 13,808
	40,745	-	40,745

32 Expenditure on raising funds and costs of investment management

Current Year Fundraising publicity & marketing Cost of fundraising activities Fundraising trading costs Total fundraising costs B1	Current year Unrestricted Funds 2021 £ 10,645 1,149 -	Current year Restricted Funds 2021 £ - - -	Current year Total Funds 2021 £ 10,645 1,149 -
	11,794	-	11,794

24