## Footwear Friends RK 

# THE FOOTWEAR BENEVOLENT SOCIETY FOOTWEAR FRIENDS 

## EXECUTIVE COMMITTEE 

## ANNUAL REPORT 

## AND 

## FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 

## 31 JANUARY 2023 



## THE FOOTWEAR BENEVOLENT SOCIETY— FOOTWEAR FRIENDS 

## CONTENTS 

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|---|---|---|---|---|
|PAGE|
|Report|
|of|the|Executive|Committee|Is|
|Independent|examiner's|report|6|
|Statementof|Financial|Activities|7|
|Income and|Expenditure|Account|8|
|Balance|Sheet|9|
|Notes|to the Financial Statements|10-18|

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## THE FOOTWEAR BENEVOLENT SOCIETY —- FOOTWEAR FRIENDS REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JANUARY 2023 

|eae|eae|
|---|---|
|Legalandadministrativedetails||
|RegisteredName|TheFootwearBenevolentSociety|
|WorkingName|FootwearFriends|
|CharityRegistrationNumber|222117|
|RegisteredOfficeandPrincipal<br>PtaceofOperation|FootwearBenevolentSociety<br>POBox77403|
||London|
||SW9 1FG|
|IndependentExaminers|MHAMacIntyreHudson|
||MoorgateHouse|
||201 SilburyBoulevard|
||MiltonKeynes|
||MK9 1LZ|
|Bankers|NatWestBankplc.|
||Addiscombe|
||209 Lower Addiscombe Road<br>Croydon|
||Surrey|
||CRO 6RB|
|ExecutiveCommittee||
|MembersoftheExecutiveCommitteeareas detailsbelow:||
|President|D.E.Lockyer|
|Chairman|D.E.Lockyer|
|HonoraryTreasurer|M. Collins|
|OrdinaryMembers|T.C.Cooper|
||J.A.Donaghue(RepresentativeWorshipfulCompanyofPattenmakers)<br>(Retired9June2022)|
||D. Gyves|
||H. Jacobson|
||M. Jeffery|
||P.J. Lamble(RepresentativeWorshipfulCompanyofCordwainers)<br>J.G.F. Morgan|
||SO’Here|
||L. Reece-Raybould|
||S. Reason|
||M.Watson-Smith|



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; 

## THE FOOTWEAR BENEVOLENT SOCIETY —- FOOTWEAR FRIENDS 

## REPORTOF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED (CONTINUED) 31 JANUARY 2023 

pp jaJanuaryExecutive2023. Committee has the pleasure of presenting its annual roport and financial statements for the yer ended 31 

## Structure, governing and management 

pie charity is governed by the Constitution, as adopted on 14 February 2002, and its affairs are under the control of an Executive Committee. The constitution was amended and approved at the AGM held on 22 October 2020 to allow for virtual approvedmeaines thein future.amendmentA specialvia resolutionZoom was passed before the meeting to allow Trustees to participate in the meeting which 

The Executive Committee should consist of not less than seven or more than twelve members made up as follows: 

- a) the President; 

- b) the Chairman; 

- ¢) the Honorary Treasurer, 

d) not less than four and not more than nine members elected at the Annual General Meeting who shall hold office from the conclusionof that meeting. The Executive Committee may in addition appoint not more than three co-opted members. Each appointment of a co-opted Tay all be made at a meeting of the Executive Committee. The Executive Committee may terminate the membership of a co-opted member at any ordinary meeting. Members of the Executive Committee are Trustees of the charity. The Chairman and President are responsible for the appointment of new Trustees. The aim is to ensure a broad mix of skills, experience and backgrounds on the committee. Whes TARY arises & discussion is held with the current Trustees to identify individuals in the trade known to have an iuterest in the charity who are then approached to confirm their willingness to become involved. They are invited to attend the next AGAt to gain a better understanding of how the charity operates before a final decision is made. The President of the Society is elected every two years by resolution at the Annual General Meeting of the Society. 

fil the elected members of the Executive Committee shall retire from office together at the end of the next Annual General Meeting after the date on which they came to office but they may be re-elected. sive proceedings of the Executive Commitee shall not be invalidated by any vacancy among their number ar by any failure to appoint or any defect in the appointment or qualification of a member. Risk management 

The Executive Committee have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Society, and are satisfied that the systems are in place to mitigate our exposure to thoee risks ibe main risk to the Society is considered to be the potential loss in the value of investments, An Investment Commities ha been set up to control this risk. Objectivesand activities The Society is a registered cherity whose object isto relieve in cases of need, hardship or distress, persons who are or have been =circumstances,baeed in the footwear trade, their widows, widowers and other dependants. Grants are only paid to such persons under mach inn Society seeks to improve the quality of life ofits benoficiares by the provision of financial assistance in the form of grants in. eviewing the aims and objectives of the Society and in planning future activities the Executive Committee have refeend the guidance issued by the Charity Commission on public benefit. The Society is coustantly looking to increase the meade cr 

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THE FOOTWEAR BENEVOLENTSOCIETY— FOOTWEAR FRIENDS REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JANUARY 2023 (CONTINUED) 

Achievements and performance rants than foe ator" am encouraging year forthe charity in that we helped more individuals and dispensed a higher value of grants than for many years. In total we helped 153 people and paid out £83,605 in grant payments. The number of beneficiaries rnd vide eetY because we re-established close contacts with the Sears employees trust and together ideeified ee I eddhine, WHO wete current beneficiaries of the Sears trust who could benefit from additioaal grants ina Portas receive naa number of current Footwear Friends beneficiaries who were ex British Shoe Corporation eonloren Cee cee peyimats a na Dayments from Sears. in total this added 43 individuals to our regular grant recipient lite The higher loacy became a listed eee pa oa SeteTous grant of £20,000 fram the Dr Martens Trust which was extablished when the company resume 2 listed company. This contribution enabled us to pay an additional bonus grant in the Summes Cake ey Deneficieries. As you would expect in the current inflationary circumstances this payment was extremely well vacivcn £6,000 oe tet full year of working from home for our secretary and our administration costs showed a further reduction of wee ay result. One example of the bencfit of home working are our telephone costs which are now £1,000 nner nono continued her hig eee; iis change has gone well thanks to the contribution of Gabi O'Sullivan, our secrctay”, whe tea Canna tes high level of support for our beneficiaries both new and old and the members of our Trustees Condiments crasmnitee had one change during the year with Janice Donaghue leaving after 10 years due to presome of wack wen ines missed, she both organised a number of successful fundraising events and was a valuable contributor to our general Geliberations. I am delighted that Sharon Reason has agreed to take on the role of leading our fundraising tears 202. ee Cane inte 2 decline in the value of our investments from £1,327,777 at January 2022 to £1,252,856 at fanuary sear Het, Ctarifund and the Charities Property Fund declined with the Property Fund showing a large dtap atthe cary FOr Te eaten eturmoll in the gilts market which led to lower property values caused by the mini budget in Sepleaber poor nition, the Property Fund has currently suspended withdrawals until the market has stabilised. Fortes: the income from both funds remains strong with a total of £60,500 received during the year. Alles ne breviously reported a decision was taken to discontinue the Intemational Golf Tournament of the Shoe Leather and Fst jrades, the result of ever rising casts and dectining interest, with the 2022 event held at the Celtic Manse Calf een tee F500 00 ret Over the years this event has been a fantastic supporter of the charity and in toal hee domed ocary wae le fon finds enough to psy more than 5,000 individual grants. | attended the final event on behalf of the eharin ay the year ood re RLY, thank the organising and charity golf committees for their fantastic support over so many years. Foflcwing Saal orn RINE Teccived a further magnificent contribution of £12,331, the result ofthe formal winding op of the charine “isposal of the trophies etc which has given a valuable boost to our finances to start the new year Bia, nin were grateful to Drapers far allowing us to organise a rafle at their awards event which raised £3,000 and for gifting us 8 page in their December issue for our corporate supporters to pass on Christmas preeting to their susteneg ee collecting wnat £4,350 for the charity. As the world moves away from cash payments, we are looking at a new wey of collecting money in 2023 and Drapers have agreed to a revised process and additional publicity for this years event i Fee epee iene response to our December appeal for funds with excellent contributions from mimber of our reguler Tee (EL OOD) eiare Pac (£7,500), The Rubin Trust (£5,000), Timpson (£1,500), Skechers (£1,000) and the Lilley Benevien Trust (£1,000) leading the way alongside the two livery companies most closely associated with the footwear tredes, the Cordwainers and Pattenmakers,who gavo £2,000 and £1,500 respectively. The committee held a number of discussions around how do we bring the charity up to date in particular how do we obtain Dan Gyre ro nid Support from the newer parts of the footwear trade. We have established a marketing cornmittee led by particciy £2 ive added focus to this initiative. We have also appointed an extemal agency, Deadeye Deatgn, ta hele Pedy ea paling to a younger generation. Work is progressing well, and we aim to relaunch the chanty’ with «wn trading name, website and social media focus in the Spring. cet nally like to thank all the committes members who willingly give up their time to support and work on behalf of the weOe revelrecei **ve** ., "Particular to thank Justin Morgan for his diligent and speedy work in reviewing the many requests for help the 

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## THE FOOTWEAR BENEVOLENT SOCIETY - FOOTWEAR FRIENDS 

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JANUARY 2023 (CONTINUED) 

## eee Financial review The results for the year, the Financial position of the charity and the transfer to reserves are shown in the annexed sccoumts. Reserves policy 

I is the view of the Executive Committee thet calls on the Society’s funds will continue to increase over the years ahead in particular due to an ageing population. Free reserves (unrestricted funds) represent the working capital of the charity, available to support short and medium term plans ania cng ctlectives of the Society. The Executive Committee considers the fixed assets to be long term capital, to safeeuard egainst unexpected decreases in income or increases in expenditure. 1a the opinion of the trustees, all reserves are unrestricted funds which stands at £1,334,882 (2022: £1,411,579), 

## Investment powers 

The Executive Committee shalt have unrestricted power to invest the monies of the Society at their discretion in any investments of whatsoever nature and wherever they may determine including the purchase of any property whether moveable The Committee shall have the unrestricted power of changing investments from time to time and shall have, in respect of any immovable property, unrestricted powers of disposition, management, repair building development, equipment, furnishing and inprovement and may, in that behalf make any outlay out of the monies of the Society. Any or all of these powers may be delegated to an Investment Committee. 

## Investment polfcy 

The policy for investments is to maintain the value of the investment portfolio and to realise a modest income with minimum risk. All investments are held in units specifically designed for charitable investment, which meet the terms of the policy. 

## Specific restrictions 

Ail monies received by the Society (unless specifically directed to be applied in any particuler way) and the interest on investments,accordanwith theand where Constitution. ne **c** essarye any part of the capital thereof, shall be applied in carrying on the objects of the Society in 

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## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS 

## REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 JANUARY 2023 (CONTINUED) 


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## Insurance 

The charity has indemnity insurance in place to cover the liability of the Executive Committee members for any liability that may attach to them in respect of negligence, default or breach of trust or breach of duty of which they may be guilty in relation to the Association. The cost of the insurance is included in governance costs, £458 (2022 - £437). Responsibilitiesof the Exeeutive Committee 

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with spplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of their incoming resources and application of resources of the charity for that period. 

In preparing these financial statements, the Trustees are required to: 

- — select suitable accounting policies and then apply them consistently; 

- ° observe the methods and principles in the Charities SORP 2015 (FRS 102); 

* make judgements and estimates that are reasonable and prudent; ° state whether appticeble accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; © preparecontinuethein operation.financial statements on the going concern basis unless it is inappropriateto presume that the charity will 

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the finencial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 


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Approved by the Executive Committee and signed on behalf of the Executive Committee on Bl, aor<br>**----- End of picture text -----**<br>



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a m\\\<br>M. Collins A aeee OU steoeseeeseeeee (HOnOrary Treasurer)<br>**----- End of picture text -----**<br>


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## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS 

## INDEPENDENT EXAMINERS’ REPORT TO THE EXECUTIVE COMMITTEE OF THE FOOTWEAR BENEVOLENT SOCIETY 

Fy rr deepens Independent examiner's report to the Trustees of The Footwear Benevolent Soctety - Footwear Friends I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 January 2023 which are set out on pages 7 to 18. 

## Responsibilitiesand basis of report 

As the charity’s trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirementsof 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 2011 Act and in carrying out myAct.examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the 

## independent examiner's statement 

I have completed my examination. | confirm that no material matters have come to my attention in conection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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 en independent examination. 

- I have no concems and have come across no other matters in comection 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. 

MHAElizabethMacIntyreNewellHudson BA (Hons) FCA Chartered Accountants Milton Keynes 

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## THE FOOTWEAR BENEVOLENT SOCIETY - FOOTWEAR FRIENDS 

## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023 


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een<br>Note Totat Total<br>2023 2022<br>£ z<br>laceming Resources<br>Incoming from<br>Donations end legacies 2 42,273 18,199<br>Activities for generating funds 3 14,443 9,473<br>Investment income 4 61,656 56,572<br>Other operating income 5 “ :<br>Total Income 18,372 84,244<br>Expenditure<br>Costs of raising frnds<br>Fundraising costs 3 9,551 9,688<br>Expenditure on charitable activities 6 97,249 73,992<br>Governance costs 8 13,348 12,572<br>Total expenditure 120,148 96,251<br>investmentsNet Incoming/{outgoing) resourcesbefore gains and losses on (1,776) (12,007)<br>Net gains and Josses on investments<br>Unrealized (loss)/gain on investment assets<br>B 137,091<br>(74,921) ee<br>Net movement in funds (76,697) 125,084<br>Total finds brought forward at 1 February 2022 1,411,579 1,286,495<br>Total funds carried forward at 31 January 2023 22 1,334,882 1,411,579<br>**----- End of picture text -----**<br>


> The noteson pages 10 to 18 form part of these financial statements. 

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## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS 

## INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2623 


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Contributions 2023 2022<br>Net z z £ &<br>fundraising events 14,443 9AT3<br>Donations and Employee Collections 42,072 18,154<br>Gift Aid and Deeds of covenant (net) 160 45<br>Income from Investments 61,123 56,563<br>Interest ~ Bank Deposits 533 9<br>Other operating income 4l -<br>118,372 84,244<br>Disbursements to beneficiaries (83,605) (61,940)<br>Administration expenses (36,543) (34,311)<br>(120,148) (96,251)<br>Loss on disposal of investments<br>: —___<br>Sarplos/deficlt transferred to<br>Seceral secumutated fond (1,776) (12,007)<br>General secumutated fund<br>Balance at t February 2022 1,411,579 1,286,495<br>Transfer from income & expenditure account (1,776) (12,007)<br>(Decreasinv e  VIncressestmentsat 31 Januaryin market2023value of listed (74,921) 137,091<br>£1,334, 882 £1,411,579<br>This Income andExpenditure Account does not form part of the statutory accounts but is a summary of information derived<br>from the Statementof Financial Activities on page 7 of these accounts.<br>This Income and Expenditure Account showsincome net of costs for fundraising events, which is documented in note 3 of<br>these accounts.<br>The noteson pages 10 to 18 form part of these financial statements.<br>**----- End of picture text -----**<br>


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THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS 

## BALANCE SHEET — 31 JANUARY 2023 

## a 


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2023 2022<br>£ z £ £<br>Fired Assets<br>Tangible assets 12 2,497 2,956<br>Investments 13 1,252,856 1,327,777<br>1,255,353 1,330,773<br>Current Assets<br>DebtorsCashat bank - deposit eccounts 4 70,43012,187 72,54811,868<br>- current eccounts 3,092 ——2510__<br>Creditors: 85,709 87,026<br> amounts falling due within one year<br>Creditors 18 6,180 6,180<br>Net current assets 79,529 80,846<br>Net assets £1,334,882 £1,411,579<br>Foods<br>Unrestricted funds 22 £1,334,882 _£1,411,579__<br>Approved by and signed and signed signed on behalf of the Executive Committeeon Committeeon &\ bIDe23 bIDe23<br>D.E. Lockyer Lockyer M.Colling °<br>(Chairman) (Honorary Treasurer) Treasurer)<br>**----- End of picture text -----**<br>



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Approved by and signed and signed signed on behalf of the Executive Committeeon Committeeon &\ bIDe23 bIDe23<br>**----- End of picture text -----**<br>



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D.E. Lockyer Lockyer M.Colling<br>(Chairman) (Honorary Treasurer) Treasurer)<br>The noteson pages 10 to 18 form part of these financial statements.<br>**----- End of picture text -----**<br>



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## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 

## 1. Accounting Policies 

## (a) Basis of preparation 

which antial statements have been prepared under the historical cost convention, with the exception of investments, Tras included at market value. The financial statements have been prepared in accordance with the resuirerenc cecrarounting wnd Reporting by Chatities: Statement of Recommended Practice applicable to charities preparing thei (Caries Seoraance with the Financial Reporting Stendard applicable in the UK and Republic of ireland (FRS 102) (Charities SORP FRS 102), with the Charities Act 2011 and applicable regulations. The financial statements are presented in £ sterling, the functional currency, rounded to the nearest £1. 

## (b) Income recognition 

rinoome resources including donations that provide core funding or are of a general nature are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability, toincomingwhich theyfeaources fromrelate. tex reclaims are included in the Statement of Financial Activities al the same time as the gift 

incoming resources from fundraising activities are included in the Statement of Financial Activities. Where such income has related expenditure, the incoming resources and related expenditure are reposted gross in the Statement of Financialplace. Activities. Such income is only deferred where income is received prior to the year in which an event inkee 

investment income is recognised in the financial statements on an accruals basis, any realised snd unrealised gains or losses on the investments are included in the Statement of Financia! Activities. 

## (c) Expenditure recognition 

sana? enditure is accounted for on an accruals basis where there is a legal or constructive obligation committing the TRY for that expenditure and has been classified under headings thet ageregate all costs relating to the catecory, Where cosis cannot be directly attributed to particular headings, they have been allocated to activities on a nex consistent with the use of the resources. 

Cost of raising funds includes fundraising costs and investment management costs, 

Charitable activities include expenditure which is incurred in furtherance of the charity's objectives. This includes Reeth es which are accounted for when they are payable. The notification to the recipient provides iasonable expectation that they will receive a grant. For all ‘one off grants not payable by the yearend, consideration i given to the provisions of FRS102 and whether the grants will be paid in the fture. Provisions and disclosures wre then made as necessary. Governance costs include the costs of preparation of statutory accounts, the coats of Trustee meetings and costs in connection with the administration of the charity and all other constitutional matters. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, 

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## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 (CONTINUED) A 

## 1. AccountingPolictes (coutinued) 

(d) IsrecoverableVAT As the charity is not registered for value added tax (VAT), all input VAT incurred on expenses is irrecoverable. Amounts in the Statement of Financial Activities are therefore shown gross of VAT. 

## (f) Operating ieases 

Rentals applicable to operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period in which the cost is incurred. 

## (2) Tangible fixed assets and depreciation 

Tangible fixed assets costing mare than £100 are capitalised and are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows: 

## Fixtures, fittings and equipment 15% per annum of net boak value 

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Impairment losses are reported in the Statement of Financial Activities as excess depreciationcharges. 

## (h)[Investinents] 

lnvestments are initially recognised at the transaction cost. They are subsequently stated in the financial statements at their market value on the balance shest date using the closing quoted market price. All changes in value in the year, whether realised or unrealised, are reported in the Statement of Finencial Activities. 

## {}) Financial instruments 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic fiancial instruments. Basic financial instruments are initially recognised at transection value and subsequently measured at their settlement value withmethod.the exception of bank loans which are subsequently measured at amortised cost using the effective interest 

## () Debtors 

Trade and other debtors are recognised at the settlement amount after any trade discount offered, Prepayments are valued at the amount prepaid net of any trade discounts dus. 

## (k) Liabilitiesand provistons 

Liabilities are recognised when there is an obligation at the Balance shect date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt ar the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the Provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 

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## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS 

NOTES(CONTINUED)TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 

## (k) Funds stracture 

The General Fund is an unrestricted find, which may be used by the Executive Committee in way designed to meet the charity’s objectives, my way cae eeceennwtive Committee may make such transfers from unrestricted funds to any fund type as they consider neceasary to aid with the running and the funure prospects of the charity. (@ Tax the tone 12, 2 a” exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass Ceepaascorporation at taxOut purposes, in Paragraph | Schedule 6 Finance Act 2010 end meets the definition of a charitable compeny for Uk (m) Penstoa costs Sere tttY operates @ defined contribution pension scheme for its employees. Expenses are recognised in the Statement of Financial Activities as the contributions fall due, 


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Cae eguimts are accounted under the accmmals model as permitted by FRS 102. Grants relating to expenditure on eae bie fixed assets are credited to the Statement of Financial Activities at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income, Grantsexpenditure.of & revenue nature are recognised in the Statement of Financial Activities in the same period as the related 

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## THE FOOTWEAR BENEVOLENT SOCIETY - FOOTWEAR FRIENDS 

(CONTINUED)NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 


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2. Voluntary income<br>2023 2022<br>£ z<br>Donations 42,072 16,986<br>Other 41 1,168<br>Covenants and gift aid 160 45<br>42,273 18,199<br>3. Activities for generating funds<br>2023 Funds Cost of raising Net<br>Generated funds Incomes<br>£ £ £<br>Footwear Friends evemt - - -<br>ing<br>OtherGolf Daysfundraising 4,250 - 4,000<br>events 10,193 - 10,443<br>Staff costs (usie 11) 14,443 - 14,443<br>Property expenses - (5,705) (5,705)<br>Support [costs] - - -<br>Fundraising [costs] - (3,846) (3,846)<br>: a ee<br>14.443 (9,551) 4,892<br>2022 Funds Cost of raising Net<br>Generated funds Income<br>£ z £<br>Footwear Friends event<br>GolfDays 1,863- -- 1,863-<br>Other fundraising events 7,610 : 7,610<br>Staffcosts (note 11) 9,473 - 9,473<br>expenses<br>SupportProperty [costs] -- oh1,537) ee<br>Fundraising costs -- (1,844)(649) (1,844)(649)<br>——4B 88) ei<br>4 Investment income<br>2023 2022<br>£ £<br>BankDividend interest income 61,123 56,563<br>533 9<br>5. 61,656 56,572<br>Other operating income<br>2023 2022<br>£ z<br>Job retention scheme government grant<br>Covid support grent - -<br>a<br>**----- End of picture text -----**<br>


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## THE FOOTWEAR BENEVOLENT SOCIETY— FOOTWEAR FRIENDS 

(CONTINUED)NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 

- 6 Charitable activities 


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||||||
|---|---|---|---|---|
|RetiefGrants|of need, hardship and distress:|2023£|2022£|
|Staff|to beneficiaries (note|7)|83,605|61,940|
|Property costsexpenses (note 11)|8,515|7,543|
|Support|costs|$,129-|2,0502,459|
|97,249|73,992|

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## 7. Grants to benefictaries 


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||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|Half|2|£|
|Yearty|Allowances|17,780|15,180|
|December|Bonus|Grants|6,640|5,380|
|Cordwainers Grants|2,000|2,000|
|Mid Year|Grants|16,185|16,815|
|Christmes Grants|20,810|17,410|
|OneHolidayOff|GrantsGrants|20,190|$,155|
|ee|
|The|83,605|61,940|
|All|grantstotal|numberwere paidof|tobeneficiaries individualsassistedto relievein|thecasesyear of|need,was 166hardship(2022|—and136). distress,|

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8. Governance costs 


**----- Start of picture text -----**<br>
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|z|£|
|PropertyStaff|costs (noteexpenses 11)|5,705|5,657|
|AccountancyIndependent|Examination Fee|2,400-|2,4001,537|
|Support coats|3,846480|1,844480|
|OffDepreciatand|i|trustees’once|indemnity|insurance|458459|——|437216|
|13,348|12,572|

**----- End of picture text -----**<br>


9. Trustees remuneration 13,348 The members of ths Executive Committee give freely of their time and expertise, During the year, the members of theExccutive Coamnittes neither reccived nor waived any emohuments (2022 - £nil). 

10. Trustees expenses dutiesDaring(2022 the year,£nil). the members of the Executive Committee received reimbursements of fall for expenses Incurred in performing their 

14 



## THE FOOTWEAR BENEVOLENT SOCIETY — FOOTWEAR FRIENDS 

> (CONTINUED)NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 

## 11. Staff costs 

The average number of persons loyed Theprovidesaggregateappor payrollservice co **s** tothets of these chaiblepersons actvitieby thewere charityasoftfollows: duringAuras the year eal ea} (2022 - 1). Theemployee workspar time hours and 2023 2022 Wages £ £ and salaries 19,533 18,858 Pension 391 385 reeset 19,924 19,243 reccived no remuneratConsiders **i** tson keyor expensesmanagemei **n** tthepersonne! ycar. to comprise the trustees, as members of the Executive Commitee. The tmstees 8515 aoe ae fie 8 based on tho time spent on each activity, coats of raising finds £5,705 (2022 - £5,657), charitable ctivites £8,515 (2022 - £7,543) and governance costs £5,705 (2022 - £5,657). 

## 12, Tangtblfixed ass **e** ts 

Fixtures, Fittings and Cost € Addit AtAt31| FebruaryJanuary 20222023 —_ 7337323Depreciation ChargeAt } February2022 4,367 At31 for the year —___ 459 Net January 2023 —_— 4826 At Book Value At 31 January 2023 ——2477_ 31 Janumy 2022 29% 

15 



THE FOOTWEAR BENEVOLENTSOCIETY - FOOTWEARFRIENDS 

NOTES(CONTINUED) TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 


**----- Start of picture text -----**<br>
13. Fixed auset Investments<br>2023 2022<br>MarketAdditionsvalue ["°]  at1 February 2022 1,327,777° z- 1,190,686£<br>Disposals -<br>MarketUnrealised gain/(loss) (74,921)- 137,091-<br>value at 31 January 2023 1,252,856 1,327,777<br>Historical cost at 31 January 2023 960,308 960,308<br>Investments analysed as:<br>Listed investments 1,252,856 —_) 327,777<br>Details of listed investments; 2023 2022<br>Value Vaine<br>Equities £ F 3<br>Fund for Charities (Charifurd) 588,236 689,465<br>Charities Property Fund —$64.620_ 38312<br>All investments are carried at their market value and are traded an quoted public markets. 1,252,856 1 327,777<br>InvestmentsYear end markar e  heldt values in theare unrestrictedprovided by fiznd.the investment holder,<br>**----- End of picture text -----**<br>


14. Debtors 


**----- Start of picture text -----**<br>
2023 2022<br>£ £<br>Prepayments [ts 469<br>Accrued income 11,912 18,289<br>Other debtors 160 110<br>12,187 11,368<br>15. Creditors— amounts falling due within one year<br>2023 2022<br>£ £<br>Accruals 2,460 2,400<br>Other creditors 3,780 3,780<br>fe 180<br>**----- End of picture text -----**<br>


16 



THE FOOTWEAR BENEVOLENT SOCIETY- FOOTWEAR FRIENDS 

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 (CONTINUED) 


**----- Start of picture text -----**<br>
15. Creditors ~ amounts falling due within one year (continued)<br>DeferredDeferred income £<br>Resources incomedeferred at during| Februarythe  2022year 3,780<br>Amounts released from previous years -<br>.<br>Deferred income at 31 January 2023 3,780<br>recognisedincome whichon thehesbalancebeen receivedsheet as deferredduring theIncome.financial year which relates to after the year end date of 31 January 2023 has been<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
16. Cost allocation<br>The trustees decided on the following cost split for property expenses and charitable support costs.<br>2023 2022<br>£ £<br>Property casts<br>Support costs 12,823- 6,1475,124<br>charac 12,823 {1271<br>charitable activitiesoe nee£nilCast (2022:is based£2,050) on theand governance time spent usingcosts  the£nil  property(2022: £1,537),for each activity, costs of raising fund Eni (2022: £1,831),<br>A vocation of support costs is based an the time spent uring the support for each ectivity, coms of raising fund £3,846 (2022: £1,844),<br>charitable activitics £5,129 (2022: £2,459) and governance oasts £3,846 (2022: £1,844).<br>**----- End of picture text -----**<br>


17, Provisions the opine rae, he charity had agreed to pay grants totaling £1,500 (2022 - £500) dependent on further criteria being met. It was the opinion of the Executive Comittee, that the possibility of these grants being paid is probable. 18. Analysis of net assets between funds 


**----- Start of picture text -----**<br>
Tangible fixed Net current<br>assets Investments assets Total<br>z g £ 2<br>Unrestricted funds 2497 1,252,856 79,529 1,334,882<br>2,497 1,252,856 79,529 1,334,882<br>19. Controfling party :<br>**----- End of picture text -----**<br>


The charity is jointly controlled by the Executive Committee. 

17 



## THEFOOTWEAR BENEVOLENT SOCIETY ~-FOOTWEAR FRIENDS 

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 (CONTINUED) 

## 20. Relatedparty transactions 

daring tho soar or executive Commitee, andthe argunisetons that they represent, made donations to the ctarity Guring the year, or participated in fndraising eveats specifically forthe benefit of the chery 21. OperatingLease Commitments 

follows: follows NY 2023 the charity had no future minimum lease payments under non-cancellable operating leases payable o 

Within one year Within 2-5 Years 


**----- Start of picture text -----**<br>
2023 2022<br>£ £<br>-<br>.<br>- -<br>**----- End of picture text -----**<br>


22. Funds 


**----- Start of picture text -----**<br>
All funds carried forward are unrestricted.<br>**----- End of picture text -----**<br>


18 



We thank all those listed below and in addition all those organisations and individuals who have given under £ 250. We also appreciate that in addition to the donations that are listed below many companies and individuals will have thesecontributedcontributors. to other fundraising events held during the year. Our thanks go to all 

|DONATIONS|BYCOMPANIESANDORGANISATIONS<br>OF £250ANDABOVE||
|---|---|---|
|DrMartens<br>DrMartensFoundation<br>DuneGroup,The<br>EsskaShoesLtd<br>Goodman,S.*<br>Jacobson Group,The<br>Jeffery-West Ltd.<br>LilleyBenevolentTrust,The<br>MarshFootwearLtd<br>Micro-PakLid<br>Pavers Ltd.<br>Pentland Brands Plc,<br>RubinFoundationCharitableTrust|£<br>300.00 SATRA<br>£<br>£ 20,000.00 Seibel Lid,Josef<br>£<br>£ 1,000.00 SkechersUSA Ltd<br>£<br>£<br>500.00 Start-RiteShoesLtd<br>£<br>£<br>500.00<br>*receivedaferyear-end<br>£<br>300.00 T&A FootwearLtd.<br>£<br>£<br>300.00 Timpson Ltd.<br>£<br>£ 1,000.00 WmLambGroup<br>£<br>£<br>250.00<br>WorshipfulCompanyof<br>£ 7,500.00 Cordwainers. ‘The<br>£<br>£ =250.00<br>WorshipfulCompanyof<br>£<br>250.00<br>Pattenmakers. The<br>£<br>£5,000.00|350.00<br>500.00<br>1,000.00<br>300.00<br>250.00<br>1.500.00<br>500.00<br>2,000.00<br>1.500.00|



## FUNDRAISING EVENTS 

Composite Christmas Card £ 3.950.00 London Shoe & Leather ‘Trades Drapers Footwear Awards £ 3,127.54 Golfing Socicty £ 250.00 international GolfChampionship of Tower of London-Ceremony of the the Shoe Leather and Allied Trades * £ 12,331.09 Keys £ 300.00 

* received ater year-end 

George Jules Gyves Rumney 

In Memory of £ 500.00 Michael Heron. MBE £ 675.54 £ 1,786.13