Charity number: 222117
THE FOOTWEAR BENEVOLENT SOCIETY
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
THE FOOTWEAR BENEVOLENT SOCIETY
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 23 |
THE FOOTWEAR BENEVOLENT SOCIETY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025
| Trustees | D E Lockyer, Chairman |
|---|---|
| M Collins, Honorary Treasurer | |
| T C Cooper | |
| D Gyves (resigned 17 October 2024) | |
| H Jacobson | |
| M Jeffery | |
| P J Lamble, Representative of the Worshipful Company of Cordwainers | |
| J G F Morgan | |
| S O'Hare, Representative of the Worshipful Company of Pattenmakers | |
| L Reece-Raybould (resigned 1 February 2024) | |
| S Reason | |
| R Shetliffe (appointed 6 June 2024) | |
| M Watson-Smith | |
| Charity registered number 222117 Principal operating office Footwear Benevolent Society PO Box 77403 London SW9 1FG Accountants Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ Bankers NatWest Bank plc Croydon High Street (B) Branch 1 High Street Croydon CR9 1PO |
Page 1
THE FOOTWEAR BENEVOLENT SOCIETY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2025
The Trustees present their annual report together with the financial statements of the Charity for the year 1 February 2024 to 31 January 2025.
Objectives and activities
a. Strategies for achieving objectives
The Society is a registered charity whose object is to relieve in cases of need, hardship or distress, persons who are or have been engaged in the footwear trade, their widows and other dependents. Grants are only paid to such persons under such circumstances.
The Society seeks to improve the quality of life of its beneficiaries by the provision of financial assistance in the form of grants. In reviewing the aims and objectives of the Society and in planning future activities the Executive Committee have referred to the guidance issued by the Charity Commission on public benefit. The Society is constantly looking to increase the number of beneficiaries it supports.
b. 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 those risks. The main risk to the Society is considered to be the potential loss in value of investments. An Investment Committee has been set up to control this risk.
Achievements and performance
a. Main achievements of the Charity
During the year we continued to enhance the social media presence of the charity using the services of Deadeye Design to assist us with this process. We have produced “Meet the Trustees” information and a number of social media posts in an attempt to increase knowledge of the charity and appeal to a wider audience of footwear industry employees and companies. To date we have been disappointed with the results but intend to continue pushing for a breakthrough. Unfortunately, the Trustee leading this initiative, Dan Gyves, has resigned from the charity Trustee executive committee because of work pressures. We remain reliant on our long-standing supporters, notably Micro-Pak, the Rubin Foundation, Timpson, The Clarks Family Trust and the two footwear orientated Guild companies, The Pattenmakers and Cordwainers for the majority of our donations and these funds together with the income from our investments has enabled us to support a similar number of beneficiaries as in previous years. We were also delighted to continue with our strong link with Drapers who once again chose FIT as the charity partner for their Awards event in June and gave us space in the magazine for our supporters to extend Christmas Greetings to their customers. We have helped 152 individuals during the year with payments totalling £75,305.
We were pleased to receive donations from a number of golf events, the new annual competition, and the London and Norwich Golf Societies which continues the long association of the sport with the Charity. We welcomed Richard Shetliffe as a new Trustee on his appointment as the Chief Executive of the British Footwear Association. Richard replaced Lucy Reece-Raybould who left the BFA at the start of 2024. I am as always indebted to the work the Trustees do to support and advise the charity and in particular to Justin Morgan who works quickly to assess the applications we receive for assistance and make recommendations on the level of support we can provide. We also work closely with the Sears Trust and The Clarks Family Trust to share information on requests for help from employees of the British Shoe Corporation and Clarks Group Companies respectively.
Page 2
THE FOOTWEAR BENEVOLENT SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Achievements and performance (continued)
Our investments in the Stock and Property markets performed well with income for the year in excess of £74,000, a record number for the charity.
It is with sadness I report the passing of Gordon Smart a former President of the charity and a Trustee for many years who not only provided his guidance, experience and knowledge to our deliberations but also successfully organised a number of events which raised substantial funds for our activities. Gordon had a lifetime’s involvement with the footwear industry and was a true “Footwear Friend”.
I would finally like to thank our secretary, Gabi O’Sullivan, for her work in dealing with the applications for assistance we receive, supporting our beneficiaries and coping with the many IT issues we have faced in the last 12 months!
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
It is the view of the Executive Committee that 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 to meet the objectives of the Society. The Executive Committee considers the fixed assets to be long term capital, to safeguard against unexpected decreases in income or increases in expenditure.
In the opinion of the trustees, all reserves are unrestricted funds which stand at £1,311,758 (2024: 1,263,820).
c. Financial review
The Charity achieved a net deficit for the year ended 31 January 2025 of £7,735 (2024: Surplus of £12,256)
The balance held on unrestricted funds at 31 January 2025 was £1,311,758 (2024: £1,263,820)
Structure, governance and management
a. Constitution
The 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 meetings in the future. A special resolution was passed before the meeting to allow Trustees to participate in the meeting which approved the amendment via Zoom.
Page 3
THE FOOTWEAR BENEVOLENT SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Structure, governance and management (continued)
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;
c) 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 conclusion of that meeting.
The Executive Committee may in addition appoint nor more than three co-opted members. Each appointment of a co-opted member shall 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. When a vacancy arises a discussion is held with the current Trustees to identify individuals in the trade known to have an interest in the charity who are then approached to confirm their willingness to become involved. They are invited to attend the next AGM 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.
All 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.
The proceedings of the Executive Committee shall not be invalidated by any vacancy among their number or by any failure to appoint or any defect in the appointment or qualification of a member.
Investment powers
The Executive Committee shall have unrestricted power to invest the monies of the Society at their discretion in any investments of whatever nature and wherever they may determine including the purchase of any property whether moveable or immovable.
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 improvement 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 policy
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.
Page 4
THE FOOTWEAR BENEVOLENT SOCIETY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Specific restrictions
All monies received by the Society (unless specifically directed to be applied in any particular way) and the interest on investments, and where necessary any part of the capital thereof , shall be applied in carrying on the objects of the Society in accordance with the Constitution.
Insurance
The charity has indemnity insurance in place to cover the liability of the Executive Committee members of 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 the governance cost, £157 (2024 - £76)
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & 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 its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
----- Start of picture text -----
Approved by order of the members of the board of Trustees on
_______ 12/05/2025 and signed on their behalf by:
D E Lockyer M Collins
Chairman Honorary Treasurer
----- End of picture text -----
Page 5
THE FOOTWEAR BENEVOLENT SOCIETY
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2025
Independent examiner's report to the Trustees of The Footwear Benevolent Society ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 January 2025.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 Act; or
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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.
Page 6
THE FOOTWEAR BENEVOLENT SOCIETY
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 13/5/25 Laura Waycott FCA
Griffin
Chartered Accountants Courtenay House Paynes Hill Exeter EX2 5AZ
Page 7
THE FOOTWEAR BENEVOLENT SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Raising funds 6 Charitable activities 8 Total expenditure Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): Other gains/(losses) Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 28,169 7,663 68,213 104,045 9,602 102,178 111,780 (7,735) 55,673 47,938 1,263,820 47,938 1,311,758 |
Total funds 2025 £ 28,169 7,663 68,213 104,045 9,602 102,178 111,780 (7,735) 55,673 47,938 1,263,820 47,938 1,311,758 |
Total funds 2024 £ 50,194 26,539 75,425 152,158 16,884 123,018 139,902 12,256 (83,318) (71,062) 1,334,882 (71,062) 1,263,820 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 23 form part of these financial statements.
Page 8
THE FOOTWEAR BENEVOLENT SOCIETY
BALANCE SHEET AS AT 31 JANUARY 2025
| 2025 Note £ Fixed assets Tangible assets 13 1,750 Investments 14 1,225,211 1,226,961 Current assets Debtors 15 12,975 21,525 Cash at bank and in hand 74,089 76,419 87,064 97,944 Creditors: amounts falling due within one year 16 (2,267) (5,720) Net current assets 84,797 Total assets less current liabilities 1,311,758 Net assets excluding pension asset 1,311,758 Total net assets 1,311,758 Charity funds Restricted funds 17 - Unrestricted funds 17 1,311,758 Total funds 1,311,758 The financial statements were approved and authorised for issue by the _______and signed on their behalf by: |
2024 £ 2,058 1,169,538 1,171,596 92,224 1,263,820 1,263,820 1,263,820 - 1,263,820 1,263,820 Trustees on |
|---|---|
12/05/2025
D E Lockyer Chairman
The notes on pages 10 to 23 form part of these financial statements.
Page 9
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1. General information
The Footwear Benevolent Charity is registered in England & Wales. Its registered office adress is PO Box 77403, London, SW9 1SG.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Footwear Benevolent Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 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 allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Page 10
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
2. Accounting policies (continued)
2.4 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Computer equipment
15% Reducing Balance
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.8 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 due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 11
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
2. Accounting policies (continued)
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet 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 or 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 in the Statement of financial activities as a finance cost.
2.11 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.12 Pensions
The Charity operates a defined contributions pension scheme and the pension charge represents the amount payable by the Company to the fund in respect of the year.
2.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 12
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
3. Income from donations and legacies
| Unrestricted funds 2025 £ Donations 28,169 Unrestricted funds 2024 £ Donations 50,194 |
Total funds 2025 £ 28,169 |
|---|---|
| Total funds 2024 £ 50,194 |
4. Income from charitable activities
| Unrestricted funds 2025 £ Fundraising events 7,663 Unrestricted funds 2024 £ Fundraising events 26,539 |
Total funds 2025 £ 7,663 |
|---|---|
| Total funds 2024 £ 26,539 |
Page 13
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
5. Investment income
| Unrestricted funds 2025 £ Dividend income 66,185 Bank interest 2,028 68,213 Unrestricted funds 2024 £ Dividend income 73,695 Bank interest 1,730 75,425 |
Total funds 2025 £ 66,185 2,028 |
|---|---|
| 68,213 | |
| Total funds 2024 £ 73,695 1,730 |
|
| 75,425 |
Page 14
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
6. Expenditure on raising funds
Fundraising expenses
| Unrestricted funds 2025 £ Support costs 3,790 Staff costs 5,812 9,602 |
Total funds 2025 £ 3,790 5,812 |
|---|---|
| 9,602 |
Fundraising expenses (continued)
| Support costs Staff costs |
As restated Unrestricted funds 2024 £ 10,823 6,061 16,884 |
Total funds 2024 £ 10,823 6,061 |
|---|---|---|
| 16,884 |
Page 15
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
7. Analysis of grants
| Grants Grants |
Grants to Individuals 2025 £ 75,874 Grants to Individuals 2024 £ 83,735 |
Total funds 2025 £ 75,874 |
|---|---|---|
| Total funds 2024 £ 83,735 |
During the year ended 31 January 2025, the following grant dispersals were made:
Christmas Grants £19,880 Mid-Year Grants £18,930 One off Grants £6,624 Bonus Grants £8,460 Half Yearly Allowances £21,980
The total number of beneficiaries assisted in the year was 152 (2024 - 165) All grants were paid to individuals to relieve cases of need, handship and distress.
Page 16
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
8. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2025 £ Charitable activities 102,178 Unrestricted funds 2024 £ Charitable activities 123,018 |
Total 2025 £ 102,178 |
|---|---|
| Total 2024 £ 123,018 |
9. Analysis of expenditure by activities
| Charitable activities Charitable activities |
Grant funding of activities 2025 £ 75,874 Grant funding of activities 2024 £ 83,735 |
Support costs 2025 £ 26,304 As restated Support costs 2024 £ 39,283 |
Total funds 2025 £ 102,178 |
|---|---|---|---|
| Total funds 2024 £ 123,018 |
Page 17
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Other support costs Governance costs Staff costs Depreciation Other support costs Governance costs 10. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
2025 £ 15,052 308 5,054 5,890 26,304 As restated 2024 £ 14,142 439 11,615 13,087 39,283 2025 £ 2,220 |
Total funds 2025 £ 15,052 308 5,054 5,890 |
|---|---|---|
| 26,304 | ||
| Total funds 2024 £ 14,142 439 11,615 13,087 |
||
| 39,283 | ||
| 2024 £ 3,780 |
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THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
11. Staff costs
| 2025 £ Wages and salaries 20,417 Contribution to defined contribution pension schemes 447 20,864 The average number of persons employed by the Charity during the year was as follows: 2025 No. Employees 1 |
2024 £ 19,778 425 |
|---|---|
| 20,203 | |
| 2024 No. 1 |
No employee received remuneration amounting to more than £60,000 in either year.
The Charity considers its key management personnel to comprise the Trustees, as members of the Executive Committee. The Trustees receive no remuneration for their role.
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 31 January 2025, no Trustee expenses have been incurred (2024 - £NIL) .
Page 19
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
| 13. Tangible fixed assets Cost or valuation At 1 February 2024 At 31 January 2025 Depreciation At 1 February 2024 Charge for the year At 31 January 2025 Net book value At 31 January 2025 At 31 January 2024 14. Fixed asset investments Cost or valuation At 1 February 2024 Revaluations At 31 January 2025 Net book value At 31 January 2025 At 31 January 2024 |
Fixtures and fittings £ 7,323 |
|---|---|
| 7,323 | |
| 5,265 308 |
|
| 5,573 | |
| 1,750 | |
| 2,058 | |
| Fixed Asset Investments £ 1,169,538 55,673 |
|
| 1,225,211 | |
| 1,225,211 | |
| 1,169,538 |
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THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
15. Debtors
| Due within one year Other debtors Prepayments and accrued income |
2025 £ 110 12,865 12,975 |
2024 £ 122 21,403 |
|---|---|---|
| 21,525 |
16. Creditors: Amounts falling due within one year
| Accruals and deferred income Deferred income Deferred income at 1 February 2024 Amounts released from previous periods |
2025 £ 2,267 2025 £ 2,500 (2,500) - |
2024 £ 5,720 |
|---|---|---|
| 2024 £ 3,780 (1,280) |
||
| 2,500 |
Page 21
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
17. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| February | Gains/ | 31 January | |||
| 2024 | Income | Expenditure | (Losses) | 2025 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds | 1,263,820 | 104,045 | (111,780) | 55,673 | 1,311,758 |
| Statement of funds - prior year | |||||
| Balance at | Balance at | ||||
| 1 February | Gains/ | 31 January | |||
| 2023 | Income | Expenditure | (Losses) | 2024 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds | 1,317,998 | 152,158 | (123,018) | (83,318) | 1,263,820 |
18. Summary of funds
Summary of funds - current year
General funds Summary of funds - prior year General funds |
Balance at 1 February 2024 £ 1,263,820 Balance at 1 February 2023 £ 1,317,998 |
Income £ 104,045 Income £ 152,158 |
Expenditure £ (111,780) Expenditure £ (123,018) |
Gains/ (Losses) £ 55,673 Gains/ (Losses) £ (83,318) |
Balance at 31 January 2025 £ 1,311,758 |
|---|---|---|---|---|---|
| Balance at 31 January 2024 £ 1,263,820 |
Page 22
THE FOOTWEAR BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
19. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2025 £ Tangible fixed assets 1,750 Fixed asset investments 1,225,211 Current assets 87,064 Creditors due within one year (2,267) Total 1,311,758 |
Total funds 2025 £ 1,750 1,225,211 87,064 (2,267) 1,311,758 |
|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 2,058 1,169,538 97,944 (5,720) 1,263,820 |
Total funds 2024 £ 2,058 1,169,538 97,944 (5,720) 1,263,820 |
|---|---|---|
20. Pension commitments
The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independent administered fund. The pension cost charge represents contributions payable by the Charity to the fund and mounted to £447 (2023: £425).
21. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 January 2025.
Page 23
SIGNATURE CERTIFICATE
REFERENCE NUMBER A9C21E52-1138-4C3F-A151-03862ADB588C
TRANSACTION DETAILS DOCUMENT DETAILS Reference Number Document Name A9C21E52-1138-4C3F-A151-03862ADB588C The Footwear Benevolent Society 2025 - Final Accounts preparation Transaction Type Filename Signature Request The_Footwear_Benevolent_Society_2025_-_Final_Accounts_preparation.pdf Sent At Pages 05/07/2025 08:00 EDT 26 pages Executed At Content Type 05/12/2025 09:40 EDT application/pdf Identity Method File Size email 218 KB Distribution Method Original Checksum email efd0463b64b072ef0ac828ef86cb8aa21bf955f3a53510bbef75f578bc4d0554 Signed Checksum f719995e945083e77081c6a72dcb56715fc8e70c2182f3d5de130a25bb1eef77 Signer Sequencing Disabled Document Passcode Disabled
SIGNERS
| SIGNER | E-SIGNATURE | EVENTS |
|---|---|---|
| Name | Status | Viewed At |
| David Lockyer | signed | 05/12/2025 09:38 EDT |
| Multi-factor Digital Fingerprint Checksum | Identity Authenticated At | |
| edwinlockyer22@icloud.com | d515078f5624c80cbd1321ecfdb028302cca40367067daf50e26df56f3c77776 | 05/12/2025 09:40 EDT |
| Components | IP Address | Signed At |
| 4 | 194.233.153.200 | 05/12/2025 09:40 EDT |
| Device | ||
| Safari via Mac | ||
| Typed Signature | ||
| Signature Reference ID | ||
| 66A2E25C | ||
| Name | Status | Viewed At |
| Malcolm Collins | signed | 05/08/2025 03:33 EDT |
| Multi-factor Digital Fingerprint Checksum | Identity Authenticated At | |
| malcolm.collins4@btopenworld.com | 3e80079f2b111f9df8f0bfdcd894be3f273e053e522643911b1f57d895f0c834 | 05/08/2025 03:35 EDT |
| Components | IP Address | Signed At |
| 1 | 81.156.249.33 | 05/08/2025 03:35 EDT |
| Device | ||
| Mobile Safari via iOS | ||
| Drawn Signature | ||
| Signature Reference ID | ||
| DA96BE30 | ||
| Signature Biometric Count | ||
| 4 |
AUDITS
| TIMESTAMP | AUDIT |
|---|---|
| 05/07/2025 08:00 EDT | Team Griffin (office@griffinaccountancy.co.uk) created document 'The_Footwear_Benevolent_Society_2025_- _Final_Accounts_preparation.pdf' on Chrome via Windows from 35.169.110.255. |
| 05/07/2025 08:00 EDT | David Lockyer (edwinlockyer22@icloud.com) was emailed a link to sign. |
| 05/07/2025 08:00 EDT | Malcolm Collins (malcolm.collins4@btopenworld.com) was emailed a link to sign. |
| 05/08/2025 03:33 EDT | Malcolm Collins (malcolm.collins4@btopenworld.com) viewed the document on Mobile Safari via iOS from 81.156.249.33. |
TIMESTAMP AUDIT 05/08/2025 03:35 EDT Malcolm Collins (malcolm.collins4@btopenworld.com) authenticated via email on Mobile Safari via iOS from 81.156.249.33. 05/08/2025 03:35 EDT Malcolm Collins (malcolm.collins4@btopenworld.com) signed the document on Mobile Safari via iOS from 81.156.249.33. 05/12/2025 09:38 EDT David Lockyer (edwinlockyer22@icloud.com) viewed the document on Safari via Mac from 194.233.153.200. 05/12/2025 09:40 EDT David Lockyer (edwinlockyer22@icloud.com) authenticated via email on Safari via Mac from 194.233.153.200. 05/12/2025 09:40 EDT David Lockyer (edwinlockyer22@icloud.com) signed the document on Safari via Mac from 194.233.153.200.