**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.
- 1 -
## **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
- 2 -
## **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.
- 3 -
## **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 .........................
**----- Start of picture text -----**
..............................
**----- End of picture text -----**
.............................. A Bradshaw-Murray **Trustee**
- 4 -
## **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.
- 5 -
## **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|
- 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.
- 7 -
## **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|
- 8 -
## **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).
- 9 -