REGISTERED CHARITY NUMBER: 1197009
TRUSTEES. REPORT AND
FINANCIAL STATEPJIENT5 FOR THE YEAR ENDED 28 FEBRUARY 2025
FOR
THE BRITISH FOOTWEAR DEVELOPMENT TRUST

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Paga
Referenee and Administratlve Deialls
Trustees, Rèport
ststement of Financial Acllvities
Statement of Financial Posltion
Notes to the Flnancial Stat8ments
6 10 10
Detalled Statement of Financial Actlvities

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 28 FEBRUARY 2025
TRUSTEES
WJ ChuTch BSC, MBA, MRICS
L J P Reece-Raybould Iresigned 2314r241
H Errington
C M Denton
A M Haywood
M Mason
K Bann {resigned 23141241
V A Pcxlmore lappoinled 23141241
R ShellrfFe lappoinled 7161241
PRINCIPAL ADDRESS
Satra House, Wyndham Way
Kettering
North8mptonshire
NN16 8SD
REGISTERED CHARITY
NUiVIBER
1197009
BANKERS
HSBC Bank plc
52 Oxford Street
London
W1A1EG
INVESTMENT ADVISORS
Ralhbone Investment Management Limited
Port of Liverpool Building
Pier Head
Liverpool
L31NW
Page 1

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
The Trustees who are also directo¥s of the charity for purposes of the Companies A¢1 2006, present their
report with the financial slalemenls of the charity for the year ended 28 February 2025. The Iruslees have
adopted the provisions of Accounting and Reporting by Charities.. Statement ol Re¢ommended Practice
applicable lo charities preparing their aG¢ounls in accordance with the Financial Reporting Stsndard
applicable in the UK and R8P¢tblic of Ireland (FRS 1021 (effective 1 January 2019).
Trustees
The Trustees seNing during the year and slnce the year 8nd were as follows'.-
WJChur¢h
L Reece-Raybould (resigned 23 April 20241
H Erringlon
C M Denton
A M Haywoo
M Mason
K Bann (resigned 23 April 20241
V A Podrmoie lappoinled 23 April 2024}
R Shelliffe lappoinled 7 June 20241
OBJECTIVES AND ACTIVITIES
Objèctives and activities
The objective of the Charity is'.-
To advance the theoretical and practical education of peisons engaged in or to be engaged in the footwear
industry in the United Kingdcxm.
The strategies employed lo achieve the Charity's o¥'ective are to'.-
111 borrow molley and lo charge the whole or any part of its property as security for the repayment of the
money borrDwed. Thie CIO must comply as appropriate with sedions 124 and 125 of the Charities Act 2022, if
il wishes to mortgage land..
{2} buy, lake on lèase or in exchange. hire or otherwise 8¢ouire any property and to maintain and equip il for
use.,
(31 sell, lease or oth￿n￿lse dispose of all or any part of the property belonging to the CIO. In exeTcising this
power, the CIO musl compty as appropiiale with sections 117 and 119-123 of the Charities Act 2022;
141 employ and remunerate such staff as are necessary for carrying out the work of the CIO. The CIO may
employe or remunerate a charity trustee only lo the extent that il is pemitted lo do so by claus6 6 (Benefits
and payments to charity Iruslees and conneded persons) and providad il cL￿pIleS wilh the Conditions of that
Clause..
151 dewsil or illvest funds, employ a professional fund-manager, and arrange for the investments or other
property of the CIO to be held in the name of a nominee, in the saTne manner and subject lo the same
conditions as Ihe Iruslees of a trust are permilled lo do by the Trustee Act 2000.
161 lo provide, cause lo be provided or assist in the provision of facilities and schémes for the edu¢alion and
training of those engaged or to be engaged in the United Kingdom footwear industry and lo maintain the
progress of such facilities and $chem85'
17) to make grants or donations lo or for the benefit of persons, lims or bodies involved or to be involved in
the provision of facilities and schemes for such trducalion and training., and
181 lo c(Foperate with the local and cenlral authorities or other bodies in th8 development ol education and
training in relation to the United Kingdom footwear industry and lo provide funds or make grants or donalK)ns
io such authorities or ￿dIeS lor that purpose.
Page 2

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
OBJECTIVES AND ACTIVITIES
Public benefit
The Trustees have had regard lo the Charily Commission's guidance on publi¢ bellefil.
ACHIEVEMENT AND PERFORMANCE
Charitable activlties
The Trustees are s81isfied wlh the performan￿ of the Charity during the year.
FINANCIAL REVIEIN
Financlal posltlon
The charity has seen a surplus this year.
ReseTves policy
A strategic review will lake pla￿ if the reserves linveslmentsl fall below £20,QQIO.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The 8rilish Foolwear Development Trust is a Charitable Incorporated Organ1881ion ICIOI registered with the
Charity Commi8sion.118 rules and conslilulion were adopted on 8 December 2021.
Appointment of trustees
Trustees are appointed in a¢¢ordance with th8 rll￿s of the Trust. There is no maximum number of charity
Iruslees, bul there rnust be at least five charity lyustees. Apart from thé first charity Iruslees, every charily
Iruslee must be appointed by a iesolution passed al a properly convened me81ing of the charity trustees.
Every charity Iruslee musl be a registered member or registeied members represenlalive or Direcloi in
respect of the British Footwear Associal￿n. At least two charity Irusleès musl be dlreclors of the British
Footwear Association (CRN". 000597371.
Thé Trust is administered by the ExeGUtive Committee which consists of the trust￿5 appointed from lime to
lime in accordance with the Iiusl deed.
Oryanisation
The Executive Committee administers the Chaiily and m*1 regularly lo consider the Dn-going performan￿ of
the activities.
Related partios
The Charity has a elose relationship with the Biilish Footwear Association Limited, a company which shares
the Trust's P8ssion for promoting the fooiwear industry and educating those involved in that industry.
Rksk management
The Tmslees have a risk rllanagemenl strategy which comprises'.-
An annual review of the risks the Charity may face.,
- The eslablishmenl of systems and procedures lo mitigate those risks id8nlified in the review.,
The implementation of procedures designed lo minimise any potential impact on the Charity should thase
risks malerialise,
This work has identifièd only a faw minor risks bul has Tesulled in improved procedures and contingen¢y
plans and has given the impetus for better planning. A key èlement in the management of financial risk is the
selling of a reserves policy and ils regular review by the Trustees.
Appioved by order of the board of Irusle8s on 6 June 2025 and signed on its behalf by..
J Church Bsc, MBA, MRICS - Trustee
Page 3

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FE8RUARY 2025
2025
Unreslricled
funds
2024
Total
funds
No18S
INCOME AND ENDOWMENTS FROM
Investment income
4,004
3,560
EXPENDSTURE ON
Charitable activities
Charitable activity
Gran15 to individuals
5.040
7,709
4,877
9.130
Total
12,749
14,007
Nel gains on investments
14,495
8,897
NET INCOMEIIEXPENDITURE}
5.750
11,5501
RECONCILIATION OF FUNDS
Total funds brought forward
183.802
185,352
TOTAL FUNDS CARRIED FORWARD
189,552
183,802
The notes fomi part ol these financial stalèmenls
Page 4

THE BRITISH FOOTWEAR DEVELOPNIENT TRUST
STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2025
2025
UnrBslricted
funds
2024
Total
funds
Notes
FIXED ASSETS
Snveslmenls
191,574
175,274
CURRENT ASSETS
DeblDIS
Cash at bank
104
7.163
103
17,716
7,267
17,819
CREDITORS
Amounts falling due within one year
19,289}
19,2911
NET CURRENT ASSETS
12,0221
8,528
TOTAL ASSETS LESS CURRENT
LIABILITIES
189,552
183.802
NET ASSETS
189,552
183.802
FUNDS
Unreslri¢led fullds
189.552
183.802
TOTAL FUNDS
189.552
183,802
The fin8ncBI statemen18 were approved by the Board of Tr￿slee5 and aulhorised for Issue on 6 June 2025
and were signed on ils behalf by..
W J Church BSC, MBA, MRICS- TTU51ee
Th8 notes fomi part of the88 financial slatemanls
Page 5

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial slalemenls of the ¢harily, which is a public benefit entily under FRS 102. have been
prepared in accordancts with the Charities SORP IFRS 1021 'Accounlirng and Reporting by Charities..
Slalemenl of Recommended Pra¢lice appli¢able lo charities preparing their accounts in 8ccordan¢e
with Ihe Financl81 Reporting Standard applicable in the UK and Republic of Irèland IFRS 1021
leffe¢live 1 January 20191., Financial Reporting Standard 102 'The Financial Reportlng Standard
8pplicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial slalem8nts have
been prepared under the historical cost convention, with the exception of investments which are
included at market valuè, as modrfied by the revaluation of certain as5els.
The principal accounting policies fDr thé charity have remained vnchanged from the p￿vIOuS year and
the accoijnts hsve been prepared on an accruals basis.
Golng concern
At tho time of approwng the aGcounls, the Tiustees have a reasonable expectation that the ch8rVcy has
adequate resources lo continue in opeTalional existence for the foreseeable future. Thus the Trustees
continue lo adopt the going concern basès of accounting in preparing the accounts.
Income
All income is re¢(￿nised in the Statement of Financial Aclivitses once the ¢harily has enlillemenl lo the
funds. it is probable that the income will be r￿e1V￿d and the amount can be measured reliably.
Expenditure
Liabilitiès are recognised as expenditure as soon as there is a legal or constructive obligation
commilling the charity to that expenditure, il is probable that a transfer of economic benefits will be
requirecl in settlement and the amount ol the obligation can be measured reliably. Expenditure is
8c¢ounled lor on an accruals basis and has been classified under headings that aggregate a11 cost
related lo Ihe calegory. Where costs cannot be directly allributed lo particular headings they have been
allocated to actwilies on a basis consistent wilh the use of iesources.
Grants offered subject lo conditions which have not been mat at the year end date are noted as a
commitment bul not accrued as expenditure.
Taxation
The CIO Is exempt from lax on ts charitable actwilies.
Fund ac¢ounting
Unrestricted funds can be used in accordan￿ with the charitable objectNes al the discretion of the
tru81ees.
Reslricled funds can onty be used for particular Te51ricted purposes within the objects of the charity.
Restri¢lions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Further explanation of Ihe nature and pvrpose ol each fund is included in the notes lo the financial
statements.
Investments
Invèslmenls are included in the balance shea al year end market value per the requirements of the
SORP. All Ghanges in value in the year whether 01 not realised are reported in the Slalemenl of
Financial AclNilies.
Page 6
conlinued..-

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued
FOR THE YEAR ENDED 28 FEBRUARY 2025
INVESTNIENT INCOME
2025
2024
Income from listed investments
Deposit a¢¢ounl interest
4,004
3,559
4,004
3,560
GRANTS PAYABLE
2025
2024
Grants lo individuals
7,709
9,130
TRUSTEES. REMUNERATION AND BENEFITS
There were no Iru51ees' remurneral￿n or other benefits for the year ended 28 February 2025 nor for the
year ended 29 February 2024.
Trustee$. expenses
There were no Iruslee8' expenses paid for the year ended 28 February 2025 nor for the year ended
29 February 2024.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unreslricle
funds
INCOME AND ENDOWMENTS FROM
Investment income
3,560
EXPENDITURE ON
Charitable activities
Charitable activity
Grants to individuals
4,877
9,130
Total
14,007
Nel gains on investments
8,897
NET INCONIEIIEXPENDITUREI
11,5501
RECONCILIATION OF FUNDS
Total fullds brought forward
185,352
TOTAL FUNDS CARRIED FORWARD
183,802
Page 7
continued...

THE BRITISH FOOTWEAR DEVELOPMEwf TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
Al 1 March 2024
Additions
DIspo881s
Revaluations
175,275
188,530
{186,7251
14,494
At 28 February 2025
191.574
NET BOOK VALUE
At 28 February 2025
191,574
Al 29 Febru8ry 2024
175,275
Thefe were no investment assets outside the UK.
The following investments al 28 February 2025 represent more than 50/0 of total investments..
Markelvalue
Ralhbones Asset Management Core Investments for Charities UK
191.574
Cost or valuation al 28 February 2025 is repr&senled by",
Listed
investments
Valuation in 2025
Cost
5.234
186,340
191,574
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Prepayments and accwed incom8
103
Page 8
continued...

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
AcGruals and deferred income
9,289
9,291
MOVEMENT IN FUNDS
Nel
movement
in funds
Al
2812r25
Al 113124
Unrestrlcted funds
General fund
183,802
5.750
189,552
TOTAL FUNDS
183,802
5,750
189,552
Nel movement in funds. included in the above are as follows..
Incoming
resources
Resource8
expended
Galn8 and
losses
Movement
in funds
Unrestricted funds
General fund
4,004
112,7491
14,495
5.750
TOTAL FUNDS
4,004
112,7491
14,495
5,750
Comparatives for rnovemènt in fund5
Ne
movement
in funds
At
29￿rI4
Al 113123
Unrestricted funds
General fund
185,352
(1.5501
183.802
TOTAL FUNDS
185,352
11,550)
183,802
Comparative nel movement in funds, included in Ihe above are as fo51ows.'
InGoming
Resources
resour
expénded
Gains and
losses
Movement
in funds
Unrestrictsd funds
General fund
3,560
114,0071
8,897
11,5501
TOTAL FUNDS
3,660
114,0071
8,897
(1.5501
Paoe g
continued...

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 28 FEBRUARY 2025
10. RELATED PARTY DISCLOSURES
There were no reL2ted party Iransadioris for the year ended 28 February 2025.
Page 10

THE BRITISH FOOTWEAR DEVELOPMENT TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 28 FEBRUARY 2025
2025
2024
INCOME AND ENDOWMENTS
Investment 5ncome
Income from listed investments
Deposit account interest
4,004
3,559
4,004
3,560
Total incoming resources
4,004
3.560
EXPENDITURE
Charltable activllies
Accountancy and professional fees
Finance charges
Consultancy costs
Insurance
IT Expenses
Grants lo Indiv￿ua1S
1,320
1,258
1.975
368
59
7,709
1,385
1,470
1,587
375
9,130
12,689
13,947
Support ¢osts
Finance
Bank charges
60
Total resources expended
12.749
14,OL)7
Net èxpenditure before gains and Ioss8S
18.7451
110,447)
Realised recognlsed galns and Iossgs
Realised gainslllossesl ot) fixed asset
investments
Unrealised gainslllossesl on investment
assets
9,261
4,685
5.234
4,212
Net incomellexpendlturel
5,750
(1,5501
This page does nol form part of the statutory financial slalemen15
Page 11