FAIR WAYS FOUNDATION
Financial health, per its FY2023 accounts
The accounts state that the charity reported a net deficit of £37,059 for the year ended 31 October 2023, with total income of £538,427 and expenditure of £575,486. The trustees report that free reserves of £200,000 were slightly below the stated policy target range of £215,000 to £429,000. The financial statements are prepared on a break-up basis as the trustees expect to transfer assets and liabilities to a related entity by October 2024.
What the accounts disclose
“The Foundation’s actual cash reserves at 31 October 2023 was £200k. This was slightly below the target range.” — page 7
“Therefore, the financial statements are prepared on a break up basis reflecting the realisation of the company’s assets and discharge of its liabilities through to anticipated closure.”
Year-over-year changes
- Going concern: no going-concern doubt (FY2022) → going-concern doubt noted (FY2023).
Structured financials (annual return, FY ending 31/10/2024)
Trustees
- Anne Segallchair
- Adrian Fry
- Diana Cree
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/10/2024 | £581k | £975k |
| 31/10/2023 | £538k | £575k |
| 31/10/2022 | £514k | £1.4m |
| 31/10/2021 | £2.9m | £1.4m |
| 31/10/2020 | £15.0m | £14.3m |
Common questions
Is FAIR WAYS FOUNDATION financially healthy?
The accounts state that the charity reported a net deficit of £37,059 for the year ended 31 October 2023, with total income of £538,427 and expenditure of £575,486. The trustees report that free reserves of £200,000 were slightly below the stated policy target range of £215,000 to £429,000. The financial statements are prepared on a break-up basis as the trustees expect to transfer assets and liabilities to a related entity by October 2024. Its FY2023 accounts were audited by Azets Audit Services.