The Trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation's Memorandum and Articles, the Companies Act 2006 and "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 Foundation's purposes as set out in the objects contained in the Memorandum and Articles of Association are:

"To advance such charitable purpose (according to the law of England and Wales) as the Directors see fit from time to time, in particular but not limited to for the public benefit to relieve those disadvantaged, in poverty, disabled, homeless or poor, and to provide education for the same in community projects, community foundations, promotion and involvement of health, wellbeing and the environment, primarily, but not exclusively in Shropshire, including the furtherance of community projects, by the way of financial assistance or otherwise in such ways as the directors think fit."

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, include the guidance 'Public benefit: running a charity'.

Strategies for achieving objectives

To deliver the following service and support primarily, but not exclusively, in Shropshire:

• Support the disadvantaged including people and groups in poverty, disabled, homeless and poor people.

• Provide education and educational opportunities for these groups in community projects.

• Promotion of health-related projects including the improvement of health, environment and wellbeing for the community.

• Support of community projects.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.

Activities undertaken to achieve objectives

These objects will be delivered by:

• Provision of grants to individuals

• Provision of grants to organisations

• Provision of support services

• Provision of advocacy/advice/information

Main achievements of the company

The report will be structured in 5 distinct sections:

1. General information about the progress that Wynn Foundation has made

2. Grant making policy

3. Review of activities

4. Distribution of Wynn Foundation funds by organisation type

5. Geographical distribution of Wynn Foundation funds via grant applications

6. Outcomes and feed-back

General information about the Wynn Foundation

• The Wynn Foundation has issued 52 grants for the period 1 April 2024 - 31 March 2025

• £ 49,970 has been awarded during the period (2024: £75,005)

  • Q1 £17,415

  • Q2 £13,150

  • Q3 £6,788

  • Q4 £12,617

     

• £1,213 has been paid in accountancy fees

• £140 has been paid in website fees

• The secretary is funded by a separate company Wynn Developments Limited

• There are no venue costs as meetings hosted by family

• The Foundation has a website outlining our aims, how to contact us and apply for a grant. www.wynnfoundation.co.uk - the webpage also has a section dedicated to showcasing how the grants have been used by the organizations who have benefitted

• The grant making process and KPIs in place for the Wynn Foundation have been reviewed:

  • A grant application form must be filled out by a nominee before any application can be considered - this can be submitted by hand, post or electronically via the Wynn Foundation website.

  • Key Performance Indicators with timescales (reviewed this year):

    • The application form will be acknowledged by the Wynn Foundation Secretary within 48 working hours of receipt by email describing next steps and timeline. An Out of Office message will be set and sent when emails are not monitored.

    • Upon receipt of the completed grant application, the Secretary will allocate it to a Wynn Foundation Trustee, using a rolling cycle of allocations, within 48 working hours.

    • The allocated Trustee is to make initial contact with the application nominee within 7 days to introduce themselves and arrange an assessment of the application at a mutually convenient time.

  • Assessment - either by phone, Zoom or Face to Face. An assessment criteria checklist is to be used to ensure uniform assessment information acquired.

  • The Foundation meets quarterly to discuss, assess and make decisions about the applications.

  • Each meeting has an agenda and is minuted.

  • Grant application nominees will be advised of the outcome within 7 days of the meeting of the Wynn Foundation Trustees.

  • Cheques to be delivered to applicant within 2 weeks

     

• The Foundation is registered with the Charity Commission

• The Foundation is also exempt from Corporation Tax as a recognised charity

Grant making policy

The Wynn Foundation outlines its Charitable Objects on the Charity Commission Website. These objects determine which types of organisations, groups and individuals can apply for grants.

Charity Commission activities statement:

"Awarding grants, support services and advice primarily in Shropshire to support people and groups in poverty, disabled, homeless and poor people. Provide education and educational opportunities for these groups in community projects. Promotion of health-related projects including the improvement of health, environment and well-being for the community. Support of community projects."

The types of organisations and exclusions are also outlined on our Wynn Foundation website and on our application form. Exclusions can also be found on the website.

These categories are typically supported:

• Disabled

• Career support

• Homelessness

• Community group

• Unemployed

• Elderly

• Young people

• Sporting group

• Other

Exclusions

Further guidance for applicants can also be found on our Exclusions section of the website.

Applications for the following will not usually be accepted:

• General appeals or letters requesting donations

• Organisations that do not have charitable aims (eg commercial companies and companies limited by shares)

• Overtly political projects (including party-political and campaigning projects)

• Animal related charities

• Organisations that have applied to us unsuccessfully within the previous 12 months (unless invited by us to do so)

• Requests for support for revenue costs, including salaries. We would consider personnel costs if they are part of a project.

• Organisations outside of Shropshie and Telford & Wrekin area will not normally be considered

• Organisations that have been successful in their Wynn Foundation grant application are excluded from applying within a 3 year period

Review of activities

The organisations, groups and individuals applying for funding specify what the grant is required for. The Foundation regularly gets updates from successful applicants with information on how the grants have been used. The information gathered is assessed against the original grant application's stated requirements.

Here are some examples of the grants we have allocated:

Shrewsbury and Newport Canals Trust:

Hello,

I'm writing to you today on behalf of the Shrewsbury and Newport Canals Trust for whom I am a volunteer and fundraiser, to express my gratitude to yourselves and particularly Josh Feehan with whom I had several conversations.

We are so happy that you have chosen to support us in this way and especially at this time. Part of our project is taking place at Wappenshall, TF6 6DE. There we are restoring 2 warehouses that date back to the industrial revolution. One is to become a museum dedicated to the man that our town is named after, Thomas Telford. The other which will be opening later this spring as a cafe with a meeting room for local groups to use. This though is only a small part of our work and aims for the future. Currently we have other groups across Shropshire at Newport, Rodington and Shrewsbury. Meaning that most weeks we will have upwards of 50 volunteers all giving their time freely and with the aim to join our 2 historic canals back to the national network at Norbury. We also have a team at Norbury (Staffordshire); the other end of the Newport canal; working to restore 2x 1936 Narrowboats that will be berthed at Wappenshall when the work is finished. Under the conditions of the grant you have deemed us worthy of will be used in Shropshire.

Once more I must express my delight at receiving this wonderful gift. Should anyone from the Foundation like a tour of any of our workplaces we would be delighted to show you around whenever it is safe to do so. Also, if you would like further updates, I would be more than happy to oblige.

Best Regards

Teens with Tots

I hope all is well with you.

The group is going from strength to strength.

We are establishing nicely, I’m so proud.

I’d just like to say a massive thank you for the support you gave me from the start.

We have now been running for a whole year!!!

To celebrate & thank everyone I’m having a little gathering.

SHINE

The Wynn Foundation were kind enough to give shine a grant of £1000 earlier this year. To help update you on what we have been doing as a charity I thought you may like to see the latest edition of Together magazine which we send out to our members. This shows some of the things we do to support our members, some of their stories and other articles.

So far in 2024 in Shropshire we have welcomed 8 new members bringing the total to 154. Our youngest new member was born in February and has Spina bifida.

We have had 58 enquiries from 25 members in Shropshire. Some of these enquiries are answered very simply however about 30% require more intensive support from our Support Development Worker or our specialist teams which has included help with bladder and health issues, helping with benefit forms and education support to name only a few.

Thank you for your support and the faith that you have shown in the work that we do supporting our members in Shropshire.

Table E - Overall view of Applicants, area, amount and category

Investment performance

Investments are in a low-medium risk portfolio which is independently managed.

Going concern

After making appropriate enquires, the Trustees have a reasonable expectation that the company 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.

Reserves policy

The money was put into the Wynn Foundation as a perpetual fund. We anticipate distributing between £40,000 and £80,000 per annum, mainly using interest received from the investment of the majority of the initial funds invested of £750,000. The funds have been responsibly invested to earn interest for this purpose and thus keep the charity going in perpetuity. The charity's policy is to hold a minimum of £40,000 as a reserve at all times.

The Statement of the Financial Activities shows total funds of the charity at 31 March 2025 were £606,910 (2024: £688,390), of this £606,910, represents the free reserves surplus.

Constitution

The Foundation is a company limited by guarantee, incorporated in England and Wales on 18 May 2017, governed by its Memorandum and Articles of Association dated 2 May 2017.

It is registered as a charity with the Charity Commission in England and Wales, registered charity number 1175210. Each of the Trustees agree to contribute £1 in the event of the charity winding up.

Organisational structure

There is one Chair Person, elected by the other committee members. There are six Trustees on the committee.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Appointment of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

Finance person

The committee utilises a treasurer. Accounts are prepared by Dyke Yaxley Accountants.

The committee is made up of Trustees and members who support and maintain the Wynn Foundation. There is also one secretary to provide administrative and professional support. The secretary is not a Trustee.

Meetings and governance

Meetings are held once a quarter, being a total of four meetings a year and an AGM. Meetings are held to discuss all aspects of the Wynn Foundation's requirements.

Grant applications are distributed to the members on receipt, they then research and follow up on applications, and present their findings at each quarterly meeting. The Trustees discuss the applications and make a decision about the awarding of a grant to organisations who have applied.

Agendas and minutes will be created, disseminated to all interested parties and stored securely to provide a full account and record of the meetings.

New Trustees are inducted into the workings of the Charity, including policies and procedures, and provided with appropriate supporting information.

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

Going forward the Wynn Foundation will continue to carry on in perpetuity, meeting its charitable objectives and using the income from invested funds for the distribution of grants. We have now got all structures and governance in place to operate the charity in the way we intended when setting it up. We have established a website and applicants can apply both online or by postal application.

The Trustees' report was approved by the Board of Trustees.

The Trustees, who are also the directors of Wynn Foundation Limited for the purpose of company law, 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).

Company law 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 Foundation and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

I report to the Trustees on my examination of the financial statements of Wynn Foundation Limited (the Foundation) for the year ended 31 March 2025.

As the Trustees of the Foundation (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Foundation are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Foundation’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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 Foundation as required by section 386 of the Companies Act 2006.

the financial statements do not accord with those records; or

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Wynn Foundation Limited is a private company limited by guarantee incorporated in England and Wales on 18 May 2017, company number 10778571. The registered office is Cosford Grange, Holyhead Road, Cosford, Shifnal, Shropshire, TF11 9JB. The Charity is governed by its Memorandum and Articles of Association dated 2 May 2017. Each of the Trustees of the Charity agree to contribute £1 in the event of the Charity winding up.

The financial statements have been prepared in accordance with the Foundation's Memorandum and Articles of Association. the Companies Act 2006 and "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 Foundation is a Public Benefit Entity as defined by FRS 102.

The Foundation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to investment income is recognised at the time the investment income is received.

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 are allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company'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 attached are fulfilled. These grants are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Foundation's balance sheet when the Foundation becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 company and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

Raising funds

Charitable Expenditure

Charitable Expenditure

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year. There were also no Trustee expenses incurred during the year.

The average monthly number of employees during the year was:

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

During the year, Wynn Foundation Limited have reclassified the cash balances previously presented within cash at bank and in hand to cash held in investment portfolio. The reclassified amount totaled £34,374 (2024: £8,351).

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

There were no disclosable related party transactions during the year (2024 - none).