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2023-09-30-accounts

Charity registration number 1191136

THE WIPERS FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

THE WIPERS FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Oguntimehin
I F Stapleton
A Bradshaw-Murray
Charity number 1191136
Principal address Soapbox Youth Centre
69-85 Old Street
London
EC1V 9HX
Accountants Sedulo London Limited
Office 605 Albert House
256 - 260 Old Street
London
United Kingdom
EC1V 9DD

THE WIPERS FOUNDATION

CONTENTS

Page
Trustees' report 1 - 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 9

THE WIPERS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their annual report and financial statements for the year ended 30 September 2023.

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)".

Objectives and activities

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

Achievements and performance

Significant activities and achievements against objectives

In the year ended 30 September 2023 the charity successful delivered a number of workshops and activities.

Venturous Minds project (Cripplegate): we supported 38 young people in the borough of Islington to access digital technologies.

Taster Day workshops (Awards for All): we supported 85 young people from across London to access taster day workshops in cycle mechanics, VR and plastering workshops.

We hosted 10 x Youth Advisory Board Sessions with 15 Youth Ambassadors in social action and co-design and co-production activities.

We supported young people to record their own music and produce an EP ’The Lighthouse Project'.

We helped 4 young people to learn videography and editing skills to produce videos for our taster day sessions.

We also managed to develop positive relationships with the mental health charity MIND, and the gym group GLL.

Financial review

In the year ended 30 September 2023, the charity received income of £25 (2022: £14,384) against expenditure of £8,579 (2022: £4,516) leading to a deficit of £8,554 (2022: surplus of £9,868). The charity carried forward funds of £6,298 at 30 September 2023 (2022: £14,852) which consisted of £3,145 in unrestricted funds and £3,153 in restricted funds.

THE WIPERS FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

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. This level of reserves has been maintained throughout the year.

Structure, governance and management

The charity is controlled by its constitution and is a charitable incorporated organisation (CIO).

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

M Oguntimehin

I F Stapleton A Bradshaw-Murray

The trustees' report was approved by the Board of Trustees.

.............................. A Bradshaw-Murray

Trustee

Date: 25th July 2024

THE WIPERS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
-
-
Investments
3
25
-
Total income
25
-
Expenditure on:
Charitable activities
4
2,439
6,140
Total expenditure
2,439
6,140
Net income/(expenditure)
(2,414)
(6,140)
Transfers between funds
1,840
(1,840)
Net movement in funds
(574)
(7,980)
Reconciliation of funds:
Fund balances at 1 October 2022
3,719
11,133
Fund balances at 30 September
2023
3,145
3,153		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
-
-
14,378
25
6
-
25
6
14,378
8,579
1,270
3,246
8,579
1,270
3,246
(8,554)
(1,264)
11,132
-
-
-
(8,554)
(1,264)
11,132
14,852
4,984
-
6,298
3,720
11,132		 Total
2022
£
14,378
6
14,384
4,516
4,516
9,868
-
9,868
4,984
14,852

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE WIPERS FOUNDATION

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

Notes
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one year
9
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
10
Unrestricted funds		 2023
£
407
7,453
7,860
(4,140)		 £
2,578
3,720
6,298
3,153
3,145
6,298		 2022
£
235
17,011
17,246
(3,780)		 £
1,386
13,466
14,852
11,132
3,720
14,852

The financial statements were approved by the trustees on .........................

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.............................. A Bradshaw-Murray Trustee

THE WIPERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies

Charity information

The Wipers Foundation is a INSERT CONSTITUTIONAL DETAIL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, 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)". The charity is a Public Benefit Entity as defined by FRS 102.

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 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 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.

THE WIPERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies (Continued)

1.5 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.

1.6 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:

Computers - 20% straight line

2 Income from donations and legacies

Restricted Restricted
funds funds
2023 2022
£ £
Grants - 14,378
3 Income from investments
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Deposit account interest 25 6

THE WIPERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

4 Expenditure on charitable activities

Charitable Charitable
activities activities
2023 2022
£ £
Direct costs
Project coordination 3,000 3,000
Facilitators 2,990 245
5,990 3,245
Share of support and governance costs (see note 5)
Support 1,689 491
Governance 900 780
8,579 4,516
Analysis by fund
Unrestricted funds 2,439 1,270
Restricted funds 6,140 3,246
8,579 4,516
Support costs allocated to activities
2023 2022
£ £
Depreciation 648 154
Bank charges 60 90
Insurance 432 247
General expenses 9 -
Governance costs 1,440 780
2,589 1,271
Analysed between:
Charitable activities 2,589 1,271

5 Support costs allocated to activities

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

THE WIPERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

7
Tangible fixed assets
Cost
At 1 October 2022
Additions
At 30 September 2023
Depreciation and impairment
At 1 October 2022
Depreciation charged in the year
At 30 September 2023
Carrying amount
At 30 September 2023
At 30 September 2022
8
Debtors
Amounts falling due within one year:
Prepayments and accrued income
9
Creditors: amounts falling due within one year
Accruals and deferred income
10
Restricted funds		 Computers
£
1,540
1,840
3,380
154
648
802
2,578
1,386
2023
2022
£
£
407
235
2023
2022
£
£
4,140
3,780		 Computers
£
1,540
1,840
3,380
154
648
802
2,578
1,386
2023
2022
£
£
407
235
2023
2022
£
£
4,140
3,780
3,380
154
648
802
2,578
1,386
2022
£
235
2022
£
3,780

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 October Incoming Resources Transfers At 30
2022 resources expended September 2023
£ £ £ £ £
National Lottery Awards for All 7,133 - (3,575) (1,840) 1,718
Cripplegate Foundation 4,000 - (2,565) - 1,435
11,133 - (6,140) (1,840) 3,153

THE WIPERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

10 Restricted funds (Continued)
Previous year: At 1 October Incoming Resources Transfers At 30
2021 resources expended September 2022
£ £ £ £ £
National Lottery Awards for All - 9,378 (2,246) - 7,132
Cripplegate Foundation - 5,000 (1,000) - 4,000
- 14,378 (3,246) - 11,132

11 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 October Incoming Resources Transfers At 30
2022 resources expended September 2023
£ £ £ £ £
General funds 3,719 25 (2,439) 1,840 3,145
Previous year: At 1 October Incoming Resources Transfers At 30
2021 resources expended September 2022
£ £ £ £ £
General funds 4,984 6 (1,270) - 3,720

12 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).