**REGISTERED CHARITY NUMBER: 1191136**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **FOR**
## **THE WIPERS FOUNDATION**
**THE WIPERS FOUNDATION**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Statement of Financial Activities**|3|
|**Balance Sheet**|4|
|**Notes to the Financial Statements**|5 to 8|
|**Detailed Statement of Financial Activities**|9|
**THE WIPERS FOUNDATION**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022**
The Trustees present their report with the financial statements of the charity for the year ended 30 September 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of the charity, as set out in its governing document are:
To advance in life and educate young people in the United Kingdom through:
- a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;
- b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
## **Main activities**
The Wipers Foundation is a youth charity that uses the channels of Media, Technology and Sport to improve life outcomes and increase opportunities for young people.
## **Public benefit**
The Trustees have given due consideration to the Charity Commission published guidance on the operation of the public benefit requirement when reviewing the foundation's aims and objectives and in planning the foundation's current and future activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
In the year ended 30 September 2022 the charity was successful in applying for 2 grants to fund its Venturous Minds project:
## _National Lottery Awards For All_
Awarded £9,378 to support young people to participate in cycle mechanics, VR and plastering workshops.
## _Cripplegate Foundation_
Awarded £5,000 to support young people to access digital technologies.
## **FINANCIAL REVIEW**
## **Financial position**
In the year ended 30 September 2022, the charity received income of £14,384 (2021: £5,000) against expenditure of £4,516 (2021: £16) leading to a surplus of £9,868 (2021: £4,984). The charity carried forward funds of £14,852 at 30 September 2022 (2021: £4,984) which consisted of £3,719 in unrestricted funds and £11,133 in restricted funds.
## **Reserves policy**
The Trustees have considered the charity’s need to maintain reserves in light of its liabilities and commitments. The charity does not currently employ any staff and has minimal overheads, meaning committed expenditure is insignificant. Additionally, the charity is not carrying any major liabilities. The Trustees therefore consider it prudent to maintain unrestricted reserves equating to at least 3 months of the charity’s operating budget. Free reserves at 30 September 2022 equated to £3,719. Given projected annual expenditure of £7,500 for the 2022-23 financial year this amounts to 6 months of unrestricted reserves. The Trustees are therefore satisfied that sufficient reserves are available for the stable continuance of the charity’s activities.
Page 1
**THE WIPERS FOUNDATION**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its constitution and is a charitable incorporated organisation (CIO).
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1191136
## **Principal address**
Soapbox Youth Centre 69-85 Old Street London EC1V 9HX
## **Trustees**
A Bradshaw-Murray M Oguntimehin I F Stapleton
## 28th June 2023
Approved by order of the Board of Trustees on ............................................. and signed on its behalf by:
................................................................. A Bradshaw-Murray - Trustee
Page 2
**THE WIPERS FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|Unrestricted
Fund
Notes
£
**INCOME AND ENDOWMENTS**
Donations and legacies
-
Investment income
2
6
**Total**
6
**EXPENDITURE**
Charitable activities
1,271
**Total**
1,271
**NET INCOME/(EXPENDITURE)**
(1,265)
**RECONCILIATION OF FUNDS**
Total funds brought forward
4,984
**TOTAL FUNDS CARRIED FORWARD**
3,719|Restricted Year Ended
Funds
30.09.22
£
£
14,378
14,378
-
6
14,378
14,384
3,245
4,516
3,245
4,516
11,133
9,868
-
4,984
11,133
14,852|Period
03.09.20
to
30.09.21
£
5,000
-
5,000
16
16
4,984
-
4,984|
|---|---|---|
All income and expenditure derive from continuing operations. The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes form part of these financial statements
Page 3
**THE WIPERS FOUNDATION**
## **BALANCE SHEET 30 SEPTEMBER 2022**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
5
1,386
1,386
**CURRENT ASSETS**
Debtors
7
235
Cash at bank
2,878
3,113
**CREDITORS**
Amounts falling due within one year
8
(780)
**NET CURRENT ASSETS**
3,719
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
3,719
**NET ASSETS**
3,719
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
14,133
14,133
(3,000)
11,133
11,133
11,333|30.09.22
30.09.21
Total
Total
funds
funds
£
£
1,386
-
1,386
-
235
-
17,011
4,984
17,246
4,984
(3,780)
-
14,852
4,984
14,852
4,984
14,852
4,984
3,719
4,984
11,333
-
14,852
4,984|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 28th June 2023
............................................. A Bradshaw-Murray - Trustee
The notes form part of these financial statements
Page 4
**THE WIPERS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention.
## **Going concern**
At the time of approving the financial statements and having a due regard to the impact of the economic climate, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Therefore, the Trustees continue to adopt the Going Concern basis of accounting in preparing the financial statements.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment
- 25% straight line
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 5
continued...
**THE WIPERS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. INVESTMENT INCOME**
|**2.**|**INVESTMENT INCOME**|||
|---|---|---|---|
|||£||
||Deposit account interest|6||
|**3.**|**TRUSTEES' REMUNERATION AND BENEFITS**|||
||There were no trustees' remuneration or other benefits for the period ended 30 September 2022.|||
||**Trustees' expenses**|||
||There were no trustees' expenses paid for the period ended 30 September 2022.|||
|**4.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|||
|||Unrestricted||
|||fund||
|||£||
||**INCOME AND ENDOWMENTS FROM**|||
||Donations and legacies|5,000||
||**Total**|5,000||
||**EXPENDITURE ON**|||
||Charitable activities|16||
||**Total**|16||
||**NET INCOME**|4,984||
||**RECONCILIATION OF FUNDS**|||
||Total funds brought forward||-|
||**TOTAL FUNDS CARRIED FORWARD**|4,984||
Page 6
continued...
**THE WIPERS FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **5. TANGIBLE FIXED ASSETS**
|**5.**|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|---|
||||||Computer|
||||||equipment|
||||||£|
||**COST**|||||
||At 1 October 2021||||-|
||Additions||||1,540|
||At 30 September 2022||||1,540|
||**DEPRECIATION**|||||
||At 1 October 2021||||-|
||Charge for year||||154|
||At 30 September 2022||||154|
||**NET BOOK VALUE**|||||
||At 1 October 2021||||-|
||At 30 September 2022||||1,386|
|**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||30.9.22|30.9.21|
|||||£|£|
||Other debtors|||235|-|
|**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||30.9.22|30.9.21|
|||||£|£|
||Other creditors|||3,780|-|
|||||3,780|-|
|**10.**|**MOVEMENT IN FUNDS**|||||
|||||Net||
|||||movement|At|
||At|1.10.21||in funds|30.9.22|
|||£||£|£|
||**Unrestricted funds**|||||
||General fund|4,984||(1,265)|3,719|
||**Restricted funds**|||||
||National Lottery Awards for All||-|7,133|7,133|
||Cripplegate Foundation||-|4,000|4,000|
||||-|11,133|11,133|
||**TOTAL FUNDS**|4,984||9,868|14,852|
Page 7
continued...
**THE WIPERS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
National Lottery Awards for All
Cripplegate Foundation
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
6
9,378
5,000
-
14,384
Incoming
resources
£
5,000
5,000|Resources
Movement
expended
in funds
£
£
(1,271)
(1,265)
(2,245)
(1,000)
7,133
4,000
(3,245)
11,133
(4,516)
9,868
Resources
Movement
expended
in funds
£
£
(16)
(4,984)
(16)
(4,984)|
|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2022.
Page 8
**THE WIPERS FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Grants
**Investment income**
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Facilitators
Project Coordination
**Support costs**
Bank Charges
Depreciation of computer equipment
Insurance
**Governance costs**
Accountancy fees
Total resources expended
**Net income**|£
14,378
6
14,384
245
3,000
90
154
247
780
4,516
14,852|
|---|---|
This page does not form part of the statutory financial statements
Page 9