REGISTERED CHARITY NUMBER: 1197865
Report of the Trustees and
Unaudited Financial Statements for the Period 10 February 2022 to 31 October 2022
for
One Percent Safer CIO
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
One Percent Safer CIO
Contents of the Financial Statements for the Period 10 February 2022 to 31 October 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
One Percent Safer CIO
Report of the Trustees for the Period 10 February 2022 to 31 October 2022
The trustees present their report with the financial statements of the charity for the period 10 February 2022 to 31 October 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) (effective 1 January 2019).
The 8 months covered in this first annual report for One Percent Safer will be remembered for events that were out of our control and yet had such a profound impact on us all.
From the ongoing pandemic, to unprecedented weather events to the conflict in Eastern Europe, the challenges faced by the human race today are without precedent. We live in volatile, uncertain and complex times that call for greater collaboration among nations, and so it was immensely encouraging to see safe and healthy work environments made a fundamental right by the International Labour Organisation in June 2022.
Crises are defined by how much resource and attention they need, and it is understandable that they draw our focus away from issues that are equally as important, if not more so. Among these ‘forgotten issues’ is the human toll we continue to suffer in the workplace worldwide. It is estimated that we lose on average around 2.8 million people to work-related injuries and ill health each year. Many millions more suffer serious and sometime life-changing illnesses or injuries at work.
Because work fatalities, injuries and illnesses have become commonplace, they fail to grab the headlines in the way a new pandemic or grave warnings about global warming can achieve. Every 10 seconds, however, someone dies because of an injury or illness suffered in the workplace. Each death was avoidable and unnecessary. This is totally unacceptable.
The One Percent Safer Annual Report is an account of how a charitable organisation run by volunteers sought to engage individuals and organisations around the world with one simple idea: that all of us can each day do something to make our workplace a little safer for us and our co-workers. And if we all did this, together, we could reduce workplace illness, injuries and fatalities.
OBJECTIVES AND ACTIVITIES
Objectives and aims
Inspired by the same philosophy that has driven improvements in everything from Olympic cycling and education to aviation and car making, One Percent Safer is the application of marginal gains theory to health and safety at work.
Popularised by writers such as Black Box Thinking author Matthew Syed, marginal gains is about focusing on small, one percent improvements, the compound effect of which is huge. The Mercedes Formula One team, inventor James Dyson and footballer David Beckham are among examples of Black Box Thinkers, says Syed. Individuals or organisations who stuck at it, refining their approaches bit by bit.
Transformational step changes are what we know in health and safety. Often inspired by disasters that shock society and lead to a complete overhaul in the way things are done, these can be difficult, expensive and risky.
If we all do just one thing, just improve workplace safety by one percent, then that could mean 28,000 people getting to go home without harm, instead of ending up dead each year. 28,000 husbands, wives, partners, mothers ,fathers, brothers, sisters, sons, daughters, friends, and co-workers. 28,000 humans.
The Japanese concept of Kaizen, the idea of incremental change one small thing at a time is what we’re talking about here. The compounding effect of trying to get 1% better each day is huge it’s a 3,800% improvement in just one year. In simple terms, that’s a 40 times improvement on where you are right now.
Public benefit
The Trustees have due regard for the guidance published by the Charities Commission on Public Benefit.
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One Percent Safer CIO
Report of the Trustees for the Period 10 February 2022 to 31 October 2022
OBJECTIVES AND ACTIVITIES
Volunteers
The One Percent Safer Board is comprised of individually legally-appointed professionals who hold responsibility for the good governance of the Foundation and its funds, including the disbursement of funds to applicants to the Foundation. These Board members are also the company directors of the not-for-profit company and will submit an annual return to Companies House (UK) and publish an annual report highlighting our activities, showcasing our beneficiaries, maintaining our messages and celebrating our successes. Like all others involved in the project, the Board directors are not remunerated in any way, and provide their time and support voluntarily.
It is right, from the outset, that we recognise those organisations and individuals who have worked committedly to support the charitable objects of One Percent Safer.
We place on record here our huge thanks to those volunteers who do not sit on our Board but who have played a key role in the success to date of the Foundation. To the following, thank you for your brilliant contribution to One Percent Safer:
Sarah Thomas (editing and project management) Edwin Stoop (graphics) Jim Shannon (design and lay-out) Stephen Newman (printing) Dave Sharman (distribution) Andrew Chamberlain (governance) Beverley Hogg (administrative support) Sumayyah Parekh (social media designs) Sam Butlin (website) Tamara Parris (community events)
The Foundation is committed to using all profits from the Foundation’s work for the public good. Costs have been minimal but necessary. We have, however, required the expertise of contractors to keep the organisation moving forward. Accountancy firm, Torr Waterfield Mailing house, The Mailing People Emma Barratt, regional director of virtual assistant Get Ahead
ACHIEVEMENT AND PERFORMANCE
Charitable activities
In line with our charitable objectives as stated by The Charity Commission, One Percent Safer funded support for safety and health practitioners operating in five emerging countries. The One Percent Safer Bursary, a collaboration with the International Institute of Risk and Safety Management (IIRSM), awarded 100 IIRSM Affiliate memberships to practitioners in Nigeria, India, Ghana, Pakistan and Egypt. Another objective is to raise awareness and educate the public and OSH profession on good health and safety practices. The Board promoted the principles of One Percent Safer at events and in media throughout 2022, and brought together practitioners and duty-holders from around the world for a series of online meetings to share experiences and lessons on safety.
Fundraising activities
Our charity's main avenues for raising funds currently are book sales and online conferences. The period covered in this report was sandwiched between two highly successful online events, bringing together leading thinkers and practitioners in the field of occupational safety and health. Between February and October 2022, books sales, particularly in bulk orders for corporate bodies supporting the charity, were our main source of revenue.
FINANCIAL REVIEW
Financial position
Total incoming resources were £41,980. After deducting expenditure of £1,800 there was net income of £40,180 for the year.
As at 31 October 2022, the Charity had total funds of £40,180 all of which were unrestricted.
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One Percent Safer CIO
Report of the Trustees for the Period 10 February 2022 to 31 October 2022
FINANCIAL REVIEW
Reserves policy
Our policy is to hold enough reserves to covered three months of overheads, and this was achieved by a significant margin.
Going concern
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
FUTURE PLANS
At time of writing, the One Percent Safer Board was finalising appointments of new OPS Trustees. These new Trustees will work with existing Board members on a new strategy to generate revenue and increase our CIO's impact on the safety and health of people at work.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1197865
Principal address
PO Box 1431 Cambridge CB1 0GQ
Trustees
Dr A D Sharman Chairman Mr L J Wustemann Trustee Mr T J Walsh Trustee Mr N W Ritchie Trustee Mrs E M Evans Trustee Ms M A Mark-Joyce Trustee (appointed 15.10.22)
Independent Examiner
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
Approved by order of the board of trustees on 30 August 2023 and signed on its behalf by:
Dr A D Sharman - Trustee
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Independent Examiner's Report to the Trustees of One Percent Safer CIO
Independent examiner's report to the trustees of One Percent Safer CIO
I report to the charity trustees on my examination of the accounts of One Percent Safer CIO (the Trust) for the period 10 February 2022 to 31 October 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 in order to enable a proper understanding of the accounts to be reached.
Mark Andrew Torr FCCA
torr waterfield Park House 37 Clarence Street Leicester Leicestershire LE1 3RW
31 August 2023
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One Percent Safer CIO
Statement of Financial Activities
for the Period 10 February 2022 to 31 October 2022
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 41,980 | |
| EXPENDITURE ON | ||
| Raising funds | 2 | 1,800 |
| NET INCOME | 40,180 | |
| TOTAL FUNDS CARRIED FORWARD | 40,180 |
The notes form part of these financial statements
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One Percent Safer CIO
Balance Sheet
31 October 2022
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| CURRENT ASSETS | ||
| Debtors | 8 | 41,980 |
| CREDITORS | ||
| Amounts falling due within one year | 9 | (1,800) |
| NET CURRENT ASSETS | 40,180 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 40,180 | |
| NET ASSETS | 40,180 | |
| FUNDS | 10 | |
| Unrestricted funds | 40,180 | |
| TOTAL FUNDS | 40,180 |
The financial statements were approved by the Board of Trustees and authorised for issue on 30 August 2023 and were signed on its behalf by:
Dr A D Sharman - Trustee
The notes form part of these financial statements
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One Percent Safer CIO
Notes to the Financial Statements
for the Period 10 February 2022 to 31 October 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.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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.
Allocation and apportionment of costs
Costs are apportioned between activities based on an estimate of management time spent.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest method, less any impairment.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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continued...
One Percent Safer CIO
Notes to the Financial Statements - continued
for the Period 10 February 2022 to 31 October 2022
2. RAISING FUNDS
Raising donations and legacies
| £ | ||
|---|---|---|
| Support costs | 1,800 | |
| SUPPORT COSTS | ||
| Governance | ||
| costs | ||
| £ | ||
| Raising donations and legacies | 1,800 | |
| Activity | Basis of allocation | |
| Governance costs | Estimated proportion of management time spent |
3. SUPPORT COSTS
The proportion of management time allocated to each activity has been estimated as:
| 31.10.22 | ||
|---|---|---|
| Raising | donations and legacies | 100% |
4. INDEPENDENT EXAMINER'S REMUNERATION
| 31.10.22 | |
|---|---|
| £ | |
| Independent Examiner's Fees - External scrutiny | 600 |
| Independent Examiner's Fees - Accountancy services | 1,200 |
| 1,800 | |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 October 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 October 2022.
6. STAFF COSTS
There were no staff costs for the year ended 31 October 2022 and therefore no employees received emoluments in excess of £60,000.
AVERAGE NUMBER OF EMPLOYEES
The average number of employees during the year was nil.
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continued...
One Percent Safer CIO
Notes to the Financial Statements - continued for the Period 10 February 2022 to 31 October 2022
7. GUARANTEE
The members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| £ | ||||
| Other debtors | 41,980 | |||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| £ | ||||
| Other creditors | 1,800 | |||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| in funds | 31.10.22 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | 40,180 | 40,180 | ||
| TOTAL FUNDS | 40,180 | 40,180 | ||
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 41,980 | (1,800) | 40,180 | |
| TOTAL FUNDS | 41,980 | (1,800) | 40,180 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 October 2022.
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One Percent Safer CIO
Detailed Statement of Financial Activities
for the Period 10 February 2022 to 31 October 2022
£
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Support costs Governance costs Independent examiner's fee Total resources expended Net income |
41,980 |
|---|---|
| 41,980 1,800 |
|
| 1,800 | |
| 40,180 |
This page does not form part of the statutory financial statements
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