## **Fair Shot** Annual Report and Financial Statements Period ended 31[st] July 2023. **Registered charity Number 1190582** Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## Contents ||Page| |---|---| |Administrative details|2| |Trustees’ Reports|3| |Independent Examiner Report|7| |Statement of Financial Activities|8| |Balance Sheet|9| |Cash Flow Statement|10| |Notes to the Financial Statements|11| Page 1 Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## Administrative details |Name of charity|Fair Shot| |---|---| |Governing document|CIO FOUNDATION - Registered 28thJuly 2020| |Registered charity number|1190582| |Trustees and Directors|Jamie Bott (Trustee)| ||Antonella Miro (Trustee)| ||Susan Jenkins (Trustee)| ||Marco Taricco (Trustee)| ||Aldina Tavella (Trustee & Chair person)| |Registered office|3 Slingsby Place| ||London| ||WC2E 9AB| |Bankers|The Co-operative Bank| |Independent Examiner|Faisal Khan t/a M J Golz| ||Odeon House, 146 College Road| ||Harrow| ||HA1 1BH| Page 2 Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## **Trustees Report for the year ended 31[st] July 2023** ## **Objectives and Activities** To relieve the needs of people with learning disabilities in any part of the world, in particular but not exclusively, by: 1. Providing education, training and support for people with learning disability 2. Helping find work placements and where possible paid work for said people Every year, we offer 12 young adults with a learning disability the chance to gain real-life work experience through our hospitality Supported Internship Programme. We provide best-in-class training so that when our trainees begin their working career, they are confident and highly skilled baristas and expert cafe assistants. Following the programme, via our employment programme we work with our employment partners to help our graduates settle into their next dream job and keep supporting them to ensure sustainable employment. Fair Shot CIO trustees confirm they have had regard to the guidance issued by the Charity Commission on public benefit. ## **Achievements and Performance** - Officially supporting 36 adults via our programmes - So great to see the number getting bigger! - Handling another move and establishing ourselves in Covent Garden - Moving to Covent Garden from Mayfair in February 2023 was a big move and it definitely took a lot of time for our team to get used to (although no time at all for our learners.) It has been a lot to open two cafes in two years so we are still catching up with things and trying to implement as much structure as possible into the company and our team. This is definitely an achievement that we have gotten this far, celebrated our second birthday and that Covent Garden has been able to give our learners much more space to learn and grow! - Changing partnerships with Mencap - So far (apart from the two learners not being suitable for the programme) our partnership has been everything I was going into it for. The structure, reassurance, resources, support, person centred approach has made our programme into what it was always meant to be - 6 more learners going into employment - This will forever be our biggest achievement and proudest moment. Most of them work near Fair Shot so we get a lot of visiters in weekly and when they come in telling us about their shifts, first pay check, staff meetings, staff socials etc. Our relations with employers are stronger than ever and it is something that has gotten us through these tough times for hospitality where everyone is struggling, they might have a higher turnover than usual and less resources. - Hiring our first Fair Shot graduate - Has been a massive achievement too! He could not be happier and neither could we. It definitely has come with its own unique set of challenges but it has been a massive learning experience for us to be on the other side and acting as an employer. Valen supported us just like she would any other employer and it has made us stronger as a team and more confident on the support that we are able to provide. Page 3 Fair Shot Annual Report and Financial Statements 31[st] July 2023 - Hiring graduates to work for our events - This has been incredible too! We have been doing some pop up cafes (mini Fair Shots) in different businesses and it has been great to be able to pay our graduates to come and support us to make coffee as well as be part of our presentations. It is so great to keep everyone close and part of our story but also for me personally to be able to work with them again! - Fundraising in the cost of living crisis - These are certainly tough times but we have gotten creative and it has been exciting to build new partnerships with corporates to be able to keep diversifying our revenue/fundraising streams. - Learner events - Since June we have gone to the Zoo, and have had several ‘fun days’ with the learners such as our halloween event and our Christmas event too. ## **Performance of fundraising activities against objectives set** In order to move premises in January 2023, we had set ourselves a fundraising goal of £350k. We started fundraising in April 2022 and eventually reached out goal in November 2023. ## **Financial Review** The charity received income in the form of Café sales, Fundraising and Donations of £701,340 in the year ended 31[st] July 2023. Review of the charity’s financial position at the end of the period |Café Sales|£283,865.3
7| |---|---| |CateringSales|£22,107.35| |Akindahunsi Olabam|£100.00| |Aquavit London Ltd|£1,588.00| |ARA fitness|£250.00| |Arena Spaceworks|£103.02| |Aversa|£500.00| |Beacon Retail Consortium|£400.00| |Belgrave Capital|£10,000.00| |Blake G E J|£1,500.00| |Bloomfield|£30,000.00| |Brand Advance|£1,000.00| |Euromonitor International|£1,500.00| |F Howard & Roos|£100.00| |Gemstock|£3,250.00| |Great Portland Est|£200.00| |Gumball 3000|£20,000.00| |Hylander|£1,200.00| |Kensington Aldridge|£181.25| |Kernel Mustard|£1,000.00| |Lex Dinamica Ltd|£1,300.00| |LucySpeelman|£2,800.00| |Mark Chadwick|£1,500.00| |Matilde|£250.52| |Michael and Betty|£37,000.00| |MIRO MA + J PLB|£3,450.00| |Moet Hennesey|£5,179.01| |Nikhil|£25,245.70| Page 4 Fair Shot Annual Report and Financial Statements 31[st] July 2023 |OverburyPLC|£360.00| |---|---| |Quartet Community|£1,000.00| |Silverpeak LLP|£5,180.00| |SimplyHealth|£2,800.00| |Skare & Hessels|£950.00| |Soho House|£2,096.00| |TAVELLA CONSULTING|£2,550.59| |TAVELLA MARIO|£2,350.00| |Tektopia|£750.00| |Thum C M|£1,000.00| |White - Da Cruz|£500.00| |Garfield Weston|£50,000.00| |Hedley|£2,500.00| |Prospero|£10,000.00| |The Clothworkers|£30,000.00| |LindburyTrust|£15,000.00| |Mark Leonard Trust|£15,800.00| |John Lyons|£40,000.00| |Other donations|£62,933.08| Expenditure for the year amounted to £577,545. The charity made a profit of £123,795 which has been incorporated into last year’s profit leaving £309,090 to carry forward. Net assets on 31[st] July 2023 of £309,090 consisting of fixed assets, debtors and cash. ## **Structure, Governance, and Management** Type of governing document - Foundation model constitution How is the charity constituted? - Charitable Incorporated Organisation Trustee selection methods including details of any constitutional provisions – Option 1 (1) Apart from the first charity trustees, every trustee must be appointed (for a term of (three years) by a resolution passed a properly convened meeting of the charity trustees (2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO ## **Names of the charity trustees who manage the charity** |1|Aldina Tavella||27 July 2020| |---|---|---|---| |2|Marco Taricco||27 May 2021| |3|Susan Jenkins||27 May 2021| Page 5 Fair Shot Annual Report and Financial Statements 31[st] July 2023 |4|Antonella
Miro||27 May 2021| |---|---|---|---| |5|Jamie Bott||02 February
2022| ## **Statement of Trustees’ and Directors’ responsibilities** The Trustees are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent ● State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements ● Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **Preparation of the report** The report was approved and authorised for issue by the Trustees on 28[th] May 2024 and is signed on behalf of the Trustees by: - ## **Chair (Aldina Tavella)** Page 6 Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## **Independent Examiner’s Report to the Trustees For the year ended 31[st] July 2023** I report to the Trustees on my examination of the accounts of the charitable company for the year ended 31 July 2023. ## **Responsibilities and basis of report** The charity Trustees, who are also Directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiners 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: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act: or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached. Approved on 29[th] May 2024 ## **Faisal Khan FCCA** Page 7 Fair Shot Annual Report and Financial Statements 31" July 2023 statementof FinancialArttvitie5 l1ncludingsumrnaryoflr￿ ExpenrfrtureAct￿nt) Year Ending 31stJutym23 Note Unresthtted Funds Restrided T(rtal ￿n￿5 Funds Prloryear Funds Charitable Activities Sales Donations Received 291,337 199.701 210.1(11 IOLX) 243.495 Expenditureon- Cost of Good5 Sold Direct £xpen5es SutKontractorC05ts Charitable Activities Governan￿ costs Salaries 37,911 69,987 16,LM3 107 16,041 30,441 31,588 2,024 75,287 14.331 111,240 37.911 179,571 IL853 11,853 447,6 577.545 266,912 Net IExpenditUFellincorne 121,4171 Page 8 Fair Shot Annual Report and Financial Statements 31[st] July 2023 The charity was entitled to exemption from audit under Charities Act 2011 and trustees have not required the charity to obtain an audit in accordance with Charities Act 2011. Trustees acknowledge their responsibilities for complying with the requirements of the Charities Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS102 SORP. The accounts were approved by the Trustees on 28[th] May 2024 and signed on their behalf by: - ## **Chair (Aldina Tavella)** Page 9 Fair Shot Annual Report and Financial Statements 31" July 2023 CASHFLOWSfATEME 2023 2022 Note Total Tetal OperatIngAd￿l1Ie$ Net ￿5h flow from operating&tivtties 181932 15.4171 Ca5hflowftom im1e5t1ng￿r¥[tseS Payments to acquiretangible fixed a55et5 Receiptsfrom sales of tèngible fixed assets Payment Due for Creditors Interest ￿e￿ived Net ￿5h flow frorn inve5tingactNtbes 1176,9521 186.3741 ia(A)I I92,(￿1> sh and fdsh equivalents a5at IAuEUSt 2022 116.921 116,921 Cash and ￿5h equivalents 25at 31Juty 2023 116,921 Cash 8nd (ash equlvalentsc0￿SLOf. sh at bankand in hand fA)i 116,921 Page 10 Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## **Notes to the financial statements** - **1 Basis of preparation** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The accounts have been prepared in accordance with: - the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (the Charities SORP); and - the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); - the Charities Act 2011. The Trustees consider that there are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern. The accounts have been prepared under the Charities SORP for the first time. Although the format of the accounts differs from that applied in the past, no changes have been made to amounts previously reported. No material prior year error has been identified in the reporting period. ## **2 Accounting policies** ## _Income_ Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. Performance related grants are recognised to the extent that the charity has provided the specified goods or services. It is not practical to value the monetary value of donated time. ## _Expenditure and liabilities_ Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Page 11 Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## _Fixed Assets_ All Fixed Assets obtained in the financial year were obtained through Restricted funds. Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation of fixed assets is provided at rates to write off the cost or revalued amount, less any estimated residual value, of each asset over its expected useful life, as follows: _All assets 20% per annum on a straight-line basis_ 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. ## _Impairment of fixed assets_ Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, because of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Financial Activities. Minor maintenance works are not considered to impair the value of the asset. _Debtors and creditors receivable / payable within one year_ Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. ## _Pensions_ The charitable company operates a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the Charity in independently administered funds. The annual contributions paid to the scheme are charged against income in the year to which they relate. ## _Going concern_ The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern. Page 12 Fair Shot Annual Report and Financial Statements 31" July 2023 Movement In Fur•Js At startof Year Incoming Resour￿5 OutgoinE Atthe End of Resour￿5 Year Restricted Funds 97,107 o,x#] lll9,8851 177,522 Unrestricted Funds 49L(klO 1447.6(4]1 IIL5&8 Totsl Funds 185,295 701,340 1577.5451 Unresthcted FU￿d5 Restricted Funds Total Prioryear Expenditure on raising funds- Advertislng& Marke￿r Bank Feès tlÈaning Depre¢i•ti¢n Expense Entertainrnent- 096 Entertainrnenl- I(￿% General Expense5 Insurance ITSoftware and Consul ght. Power, HeatTrng Pensions Costs Postage, Freight & Cou Printing &StstionÈry Ratès 3.030.08 210.91 Il6￿1.81 3.OXI 8.354 a.4is 13.IXKI 1.253 1fj6 4.038 37.911 37.911 173 ITJ. 551. L292.65 3.176.96 1790.53 7.160.68 606.43 153157 69.798.S2 551 L293 3.171 7.161 L411 1533 1.524 12.SY2 4.239 13.72Y Rent Repait5 & Maintenart SQUARE Fee5 staff Training Sub5CriPtFOll5 Telephone & Intemet TTavel- National Uniform & Protecttvec 14,473.fj1 8.916.n 6.687.83 L369. 569. 8.917 LQ25 530 3.891.61 L540S1 L114 L541 712 141.6fAI 37.911 179.571 75.287 Total 141.fjf4J 179.571 75.287 Page 13 Fair Shot Annual Report and Financial Statements 31" July 2023 J r￿edAS5ets officeEwiwn￿rt Plantand M￿lnery FiAture5& Fit￿￿ (DMwterEquiFMn￿rt Tiptsl COSTUVALUATION Atol August2022 Addition51 IDi5posBII At 31July2023 1,032 14.298 8A39 67.2 1é6,é79 3,837 86.374 1,834 175,952 1,032 2L737 233,887 5,6n 263,326 DEPRECIATION AtOlAugust2022 Charge fortheyear At 31July2023 127 10.250 32.928 43,178 525 13.C 37,911 50,911 3,893 5,992 333 NEfBOOKVALUES At 31July2022 At 31July2023 199 56.958 190. 3,311 73,3n 4,261 212,414 699 16.745 Debtor5 21 2022 Trade DebtOW5 VAT 817 1.039 29.670 7.166 30.487 8.205 Accounts Payable Accruals othertaxe5 and social other Creditors 38,OTrJ 812 3rKI 7.086 4.570 10.426 7.523 56,412 13,205 Totalm Funds Ac£ountsncy 3.145 1520 L759 Independent examination fee Consuttan£y Fe@ other legal and prof@￿slo￿al 4619 3.759 6.2n IIJS3 IL853 14312 Page 14 Fair Shot Annual Report and Financial Statements 31[st] July 2023 ## **9. Employees** The charity has 19 employees as of 31[st] July 2023. None of the trustees have been paid any remuneration or received any other benefits from employment with this charity or a related entity. No trustee expenses have been incurred. Page 15