##
|Name:|||Fashion 8 Textile Children's|Fashion 8 Textile Children's|Fashion 8 Textile Children's|Trust||||
|---|---|---|---|---|---|---|---|---|---|
|Registered||Charity Number:|257136(England
and Wales)|||||||
|Principal|Office:||44 Southampton
Buildings,|||||||
||||London|||||||
||||WC2A 1AP|||||||
||||E-Mail:anna@ftct.||org.uk|||||
||||Website:
www. ftct.org.uk|||||||
||||Telephone:
0300-123-9002/ M:||||0?753605367|||
|Trustees|at 30June 2023:||Mike Taylor, (Chair of Trustees), Commercial
Director,|||||||
||||British Heart Foundation|||||||
||||Mike Trotman,
(Chair, Finance Committee)|||||||
||||CFO Tom Dixon Group|||||||
||||David Shepherd,
(Cases|Committee),||||Former|COO Trading,|
||||Arcadia|||||||
||||Ryan Becker, Managing|Director, UK Visual Immersion||||||
||||Vanessa Elias, (Cases Committee),||||Managing||Director, CVUK|
||||Robert Bready, Freeiance||Executive||Consultant|||
||||Anne Secunda,
Executive||Consultant|||||
|Chief Executive:|||Anna Pangbourne|||||||
|Bankers:|||Barclays Business
1"Floor, 27Soho Square|||||||
||||London|||||||
||||W1D 3QR|||||||
|Solicitors:|||FieldFisher|||||||
||||Riverbank
House|||||||
||||2, Swan Lane|||||||
||||London|||||||
||||EC4R 3TT|||||||
|Auditors:|||Saffery LLP|||||||
||||Westpoint|||||||
||||Peterborough
Business Park|||||||
||||Lynch Wood|||||||
||||Peterborough|||||||
||||PE2 6FZ|||||||
|Investment||Managers:|Quilter Cheviot Investment||Management|||||
||||Senator House,|||||||
||||85 Queen Victoria Street,|||||||
||||London, EC4V 4AB|||||||
##
|||||Page|
|---|---|---|---|---|
|Chair's Statement|||||
|Trustees'
report||||2- 8|
|Independent
auditors'||report||9-11|
|Statement
of financial||activities|||
|Balance sheet||||13|
|Notes to the financial|statements|||14-24|
|Comparative
statement||of financial|activities|25|
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##
|2026, alon|g|side
the four enabling
strategic projects.|side
the four enabling
strategic projects.|||||
|---|---|---|---|---|---|---|---|
|Our overall||Strategic Direction
is to take an innovative
approach
to continue||to help families|cope during|||
|challenging||times. Three|strategic aims have been devised to support
our strategic direction:|||||
|Children|and Families||a aim tn nrnttt the n«mhqr
nf r harll dn I~In r
IIPlnnrt tn AvthhA
tl
W
Lm gl mr%
LI IV
I lUI
I ILIMI
Lll
Vl llllAI el
I
VVW NllpplJI
t LlJ &xl&l IU
Ll I'V||II I lpC1L|L|(Jul|
||||grants give to the lives of UK children. To do this,|we will maintain|our grants|||
||||awarded
figure close to the amount
given
in the previous
strategy||period.|||
|Financial|Sustainability||We are ambitious
in our fundraising
targets
and|aim to fund the growth|||in|
||||children
supported
with
a
higher
proportion|of
fundraising|income,|||
||||safeguarding
the Charity for future generations.|||||
|Operational||Excellence|We are determined
to improve the level of service|we deliver and aim to||||
||||modernise
our processes
by embracing
digital transformation,
through|||||
||||cloud-based
services and automated
procedures.|||||
##
##
|||New Gnants|Approved|Number of||
|---|---|---|---|---|---|
||A|roved 2022/23|%Total|New cases||
|Financial
Hardship||2154,675|42 09%|371|4497'/|
|Special Needs||E49,209|13.40%|105|12.73%|
|Separation/Divorce||F47,070|12.81%|109|13.21%|
|Mental
Health||235,586|969'/|78|9.45%|
|Housing||F25,670|699'/|48|5.82%|
|Illness||E24,270|661'/|49|5.94%|
|Bereavement||R9,830|2.68%|25|3.03%|
|Disability||R8,116|221%|18|2.18%|
|Domestic Abuse||E7,120|1 94%||1 090/|
|Redundancy||R5,800|1.58%|13|1.58%|
|Total Reel tents||C%7+46||||
|rants typ|ically
provid|ed
by|FTCT include|:|||
|---|---|---|---|---|---|---|
|Essential|items||||S eclallst items||
|Clothin|and shoes,|inc school uniforms||and PE Kit|Mobilit|e
ui
ment|
|Children's|bedroom|furniture|/ Beddin||Sensor|to s|
|White
oods
frid e,||cooker|and washin|machine|Thera||
|Essential|household|items|||Res ite|activities|
|Stud
Essentials —Tablets
/|||La to s etc.||S ecialist clothin||
##
|Net Fundraisi|ng:
2109,59|1 for 2022/|
|---|---|---|
|F15,000|Boohoo||
|215,000|BBM||
|f15,000|MBS PLC||
|210,510|LK Bennett||
|E10,000|JP Boden|& CO|
|z.10,000|Next PLC||
|R5,000|John Lewis Partnershi||
|R5,000|Johnsons|Hotel Linen|
|R3,450|NLG LTD||
|213,009|Dra ers Awards||
|E2,891|London
Marathon||
|PA,730|Others||
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|FOR THE YEAR ENDED|30JUNE 2|023|||||
|---|---|---|---|---|---|---|
||||Unrestricted||||
||||Income|Endowment|Total|Total|
||||Funds|Funds*|2023|2022|
|||Notes|||||
|Income and endowments|from:||||||
|Donations
and legacies||||109,591|109,591|54,765|
|Other trading
activities|||||||
|Income from Investments|||249,532||249,532|260,289|
|Other incoming
resources|||||||
|Total Income and endowments|||249,532|109,591|359,123|315,054|
|Expenditure
on:|||||||
|Raising Funds|||184,778||184,778|112,178|
|Charitable
activities|||627,368||627,368|586,697|
|Total Expenditure|||812,146||812,146|698,875|
|Net gains/(losses)
on investments||12||53,819|53,819|(291,516)|
|Net income/(expenditure)|||562,6 I4|163,410|~399,204|~675,337|
|Transfer between
funds||16|562,614|(562,614)|||
|Net (outgoing)
resources before||||(399,204)|(399,204)|(675,337)|
|other recognised
gains and losses|||||||
|Other gains/(losses)|||||||
|Net movement
in funds for the year||||(399,204)|(399,204)|(675,337)|
|Total funds brought
forward||||7,656,674|7,656,674|8,332,011|
|Total funds carried forward||||7,257,470|7,257,470|7,656,674|
|AS AT 30JUN|E 20|23||||
|---|---|---|---|---|---|
|||||2023|2022|
||||Notes|||
|Fixed assets||||||
|Intangible
fixed assets|||11|||
|Tangible fixed|assets||11|5,951|4,426|
|Investments|||12|6,805,397||
||||||7,103,040|
|||||6,811,348|7,107,466|
|Current assets||||||
|Debtors and prepayments||||71,098|55,537|
|Cash at bank||||412,300|532„983|
|||||483,398|588,520|
|Creditors: amounts||falling due within one year|14|37,276|39,312|
|Net current assets||||446,122|549,208|
|Net assets||||7,257,470|7,656,674|
|Unrestricted
income||funds||||
|- Designated|fund||16|||
|Endowment
funds||||||
|- Expendable|endowment|||7,257,470|7,656,674|
|- Permanent|endowment|||||
|||||7,25?,470|7,656,674|
|Total funds||||7,257,470|7,656,674|
##
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|2|Income from investments|Income from investments|Income from investments|Income from investments|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||2023|2022|
||Dividends,|distributions||and interest on|||bonds receivable||249,532|260,289|
||||||||||249,532|260,289|
|3|Expenditure||||||||||
||||||||Direct|Support|Total|Total|
||||||||Costs|Costs|2023|2022|
||Expenditure|on raising||funas||(note 4)|86,759|98,019|184,778|112,178|
||Charitable|activities|(note||5)||400,773|226,595|627,368|586,697|
||||||||487,532|324,614|812,146|698,875|
||Expenditure|on raising||funds|||||||
||||||||||2023|2022|
||Costs of generating||voluntary|||income|||||
||cundraising
Advertising|costs
5website costs|||||||25,132
3,702|138
1,573|
||Publicity||||||||8,946|567|
||Recruitment||||||||300||
||Other costs||||||||10,114|8,075|
||||||||||48,194|10,353|
||Support costs (note||8)||||||98,019|60,881|
||||||||||146,213|71,234|
||Investment|management|||costs||||38,565|40,944|
||||||||||184,?78|112,178|
##
##
|Charitable
activities|||||||
|---|---|---|---|---|---|---|
|||||Support|||
|||Grants|Direct|costs|Total|Total|
|||(note 6)|costs|(note 8)|2023|2022|
|Large Grants||||||21,570|
|Medium
and Small Grants||367,346|33,427|226,595|627,368|565,127|
|2023||367,346|33,427|226,595|627,368|586,697|
|2022||298,501|24,166|264,030|||
|Analysis of new grants|||||||
||||||2023|2022|
|Large Grants (paid 8 payable)|||||||
|- Paid directly to educational||organisations|on behalf of individuals|||7,500|
|- Paid to individuals|||||||
|- Prior year commitments|reversed|||||~7,500|
|Medium
Grants (paid 8 payable)|||||||
|- Paid directly to organisations||on behalf of|individuals||||
|- Paid to individuals|||||42,940|33,810|
||||||42,940|33,810|
|Small Grants (paid K payable)|||||||
|- Paid directly to organisations||on behalf of|individuals||||
|- Paid to individuals|||||324,406|264,69 I|
||||||324,406|264,691|
|Total grants for the year|||||367,346|296,501|
|Governance costs|||||||
||||||2023|2022|
|Audit fees (note 10)|||||12,060|10,800|
|Insurance
Professional
fees (including|Consultancy)||||2,375
20,348|2,040
31,260|
|Other office costs|||||11,377|2,758|
||||||46,160|46,858|
|Support costs (note 8)|||||46,160|46,858|
|8|Support costs|Support costs|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||Staff costs (note 9)||||244,249|245,930|
||Bookkeeping|costs (note 10)|||270|1,119|
||Office costs||||31,656|28,832|
||Depreciation||||2,279|2,172|
||Governance|costs (note 7)|||46,160|46,858|
||||||324,614|324,911|
||Allocated to:||||||
||Expenditure|on raising funds (note||4)|98,019|60,881|
||Charitable
activities (note 5)||||226,595|264,030|
||||||324,614|324,911|
|9|Employees||||||
||||||2023|2022|
||Wages and salaries||||217,877|222,139|
||National
insurance||||18,914|16,748|
||Employer's
Pension||||7,458|7,043|
||||||244,249|245,930|
||||||Number|Number|
||Number
of employees||||||
||The average|number|of employees|during the year was:|||
||Management|and administration|||||
##
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##
||||2023|2022|
|---|---|---|---|---|
|Audit|Saffery Champness||12,060|10,800|
|Bookkeeping|Bookkeeping|8 Office Services|270|1,119|
||||I2,330|11,919|
##
|Fixed Assets||||
|---|---|---|---|
|Intangible
fixed assets||||
|||Website|Total|
|Cost||||
|At 1 July 2022||18,000|18,000|
|Additions||||
|At 30June 2023||18,000|18,000|
|Amortisation
and impairment||||
|At 1 July 2022||18000|18000|
|Charge for the year||||
|At 30June 2023||18 nnn|1A nnn|
|Net book value||||
|At 30June 2023||||
|At 30June 2022||||
|Tangible fixed assets||||
||Computer|Office||
||Equipment|Equipment|Total|
|Cost||||
|At 1 July 2022|25,87I||25,871|
|Additions|3,804||3,804|
|At 30June 2023|29,675||29,675|
|Depreciation||||
|At 1 July 2022|21,445||21,445|
|Charge for the year|2,279||2,279|
|At 30June 2023|23,724||23,724|
|Net book value||||
|At 30June 2023|5,951||5,951|
|At 30June 2022|4,426||4,426|
##
|nvestments|||
|---|---|---|
||2023|2022|
|Quoted investments|||
|Market value at 1 July 2022|7,044,554|7,717,331|
|Additions
and other adjustments|1,037,794|679,668|
|Disposals proceeds
Realised gain/(loss)
on investments|(1,717,684)
190,664|(1,060,924)
156,663|
|Unrealised
gain/(loss)
on investments|136,845|448,184|
|Market value at 30June 2023|6,418,483|7,044,554|
|Cash held at investment
managers|386,914|58,486|
||6,805,397|7,103,040|
|Historical cost at 30June 2023|5,397,157|5,886,385|
|Geographical|Geographical|Analysis|2023|2022|
|---|---|---|---|---|
|United|Kingdom|- Fixed Interest|945,320|607,708|
|Overseas||- Fixed Interest|105,639|108,378|
|United|Kingdom|- Equity|1,578,933|1,775,187|
|Europe||- Equity|574,086|485,378|
|USA||- Equity|1,676,182|1,699,289|
|Asia||- Equity|289,013|269,956|
|Japan||- Equity|148,610|I44,980|
|Emerging||- Equity|||
|Markets|||I75,234|174,419|
|Global||- Equity|82,560|397,457|
|Alternative||- Property|842,906|1,381,802|
|Investments||- Equity|||
||||6,418,483|7,044,554|
##
|ebtors and prepayments|||
|---|---|---|
||2023|2022|
|Other debtors|11,065|10,780|
|Prepayments|13,186|10,184|
|Accrued income|46,847|34,573|
||71,098|55,537|
##
|||||
|---|---|---|---|
|reditors:|amounts
falling due within one year|||
|||2023|2022|
|Large Grants payable (see below)||||
|Medium|and Small Grants payable (see below)|2,460|4,485|
|Taxation|and Social security|4,769|4,427|
|Company|Credit card|4,648|2,585|
|Other creditors||||
|Accruals||25,399|27,815|
|||37,276|39,312|
||||2023|2022|
|---|---|---|---|---|
|Large Grants payable at 1 July 2022||||7,500|
|Medium
Grants payable at 1 July 2022|||3,885|5,350|
|Small Grants payable at 1 July 2022|||600||
||||4,485|12,850|
|New commitments/Transfers
to/from
Paid during the year|designated|fund (note 6)|367,346
~369,371|298,501
~306,666|
||||2,460|4,485|
|Large Grants payable at 30June 2023|||||
|Medium
Grants payable at 30June 2023|||2,460|3,885|
|Small Grants payable
at 30June 2023||||600|
|Total Grants carried forward
payable|2022/23||2,460|4,485|
##
##
##
|unds||||||
|---|---|---|---|---|---|
||Unrestricted||Restricted|||
||General|Designated|Expendable
Permanent|||
||fund|funCI|endowment
endowment|Total 2023|Total 2022|
||||E|||
|At1 July
2022|||7,656,674|7,656,674|8,332,011|
|Income|249,532||109,591|359,123|315,054|
|Expenditure|(812,146)|||(812,146)|(698,875)|
|Transfers|562,614||(562,614)|||
|Gain/(loss) on||||||
|revaluation||||||
|and disposal
of|||53,819|53,819|(291,516)|
|investment||||||
|assets||||||
|At 30June
2023|||7,257,470|7,257,470|7,656,674|
|Analysis ofassets be'twee(i|funds|||||
|---|---|---|---|---|---|
||Unrestricted||Restricted|||
|General|Designated|Expendable|Permanent|Total|Total|
|fund|fund|endowment|endowment|2023|2022|
|Intangible||||||
|fixed assets||||||
|Tangible
fixed assets||5,951||5,951|4,426|
|Investments||6,805,397||6,805,397|7,103,040|
|Current
assets||483,398||483,398|588,520|
|Current
liabi!ities||(37,276)||(37,276)|(39,312)|
|||7,257,470||7,257,470|7,656,674|
##
##
||||Unrestricted|||
|---|---|---|---|---|---|
||||Income|Endowment|Total|
||||Funds|Funds"|2022|
|||Notes||P||
|Income and endowments|from:|||||
|Donations
and legacies||||54,765|54,765|
|Other trading
activities||||||
|Income from Investments|||260,289||260,289|
|Other incoming
resources||||||
|Total Income and endowments|||260,289|54,765|315,054|
|Expel ldllul eon.||||||
|Raising Funds||4|I12,178||112, I78|
|Charitable
activities||5|586,697||586,697|
|Toiai Expenditure||3|698,875||698,875|
|Net Loss on investments||12||(291,516)|(291,516)|
|Net expenditure|||~438,586|~236,751|~675,337|
|Transfer between
funds|||438,586|(438,586)||
|Net (outgoing)
resources before
other recognised
gains and losses||||(675,337)|(675,337)|
|Other gains/(losses)||||||
|Net movement
in funds for|the year|||(675,337)|(675,337)|
|Total funds brought
forward||||8,332,011|8,332,011|
|Total funds carried forward||||7,656„674|7,656,674|