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35,993 claims
One designated fund covers immediate relocation costs and represents 3-6 months of forward operating expenditure.
One is for the immediate vacation of premises and relocation to new. and represents 3-6 months of forward operating expenditure.
Financial · Funding statement · From Arty-Folks — annual report and accounts, year ending 31 March 2025, page 6
Arty-Folks maintains two designated funds for operational purposes.
The trustees designated two funds in 2022/23 which have been maintained.
Financial · Funding statement · From Arty-Folks — annual report and accounts, year ending 31 March 2025, page 6
The Foundation has a conflict of interest procedure at each Trustee meeting to prevent conflicts.
The Foundation has a conflict of interest procedure at each Trustee meeting, whereby should any such potential conflict be identified across all areas of activity, these are prevented, and this is then recorded.
Governance · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 32
Unrestricted funds are balances of donations and grants without specific conditions from donors.
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.
Financial · Policy statement
A funds transfer was made to correct an imbalance in powerboat fund balances.
A funds transfer of £7,741 has been agreed to correct the balance.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 31
Wetwheels Foundation had an imbalance in its powerboat funds balances.
This did not reconcile for one of the assets.
Financial · Observational claim · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 31
The charity's restricted funds are unexpended balances of donations and grants held on trust with specific conditions.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Financial · Policy statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 30
The charity is exempt from taxation on its activities because all income is applied for charitable purposes.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Financial · Policy statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 28
Basic financial liabilities are initially recognized at transaction price and subsequently carried at amortised cost.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 25
Basic financial assets are initially measured at transaction price and subsequently carried at amortised cost.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 25
The charity reviews the carrying amounts of its assets annually to determine if there is any indication of impairment.
At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 24
Tangible fixed assets are initially measured at cost and subsequently depreciated over their useful lives.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 24
Expenditure is recognized when there is a legal or constructive obligation to transfer economic benefit.
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.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 24
Cash donations are recognized on receipt by the charity.
Cash donations are recognised on receipt.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 23
The Foundation's financial statements are prepared in accordance with FRS 102 and the Charities SORP.
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 23
The Foundation's financial statements were approved by the trustees on October 8, 2025.
The financial statements were approved by the trustees on 8 October 2025
Governance · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 22
The Trustees maintain a policy that unrestricted funds should be kept at a level equivalent to between three and six months' expenditure.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure.
Financial · Policy statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 18
The total unrestricted and restricted funds held by the Foundation as of March 31, 2025, is £784,019.
The financial position as at the Balance Sheet date (total funds held) is £784,019
Financial · Observational claim · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 17
The Foundation maintains a strict policy for awarding grants to operators in a fair and accountable manner.
Where the Foundation obtains grants for operators, we operate a strict policy of awarding funds to operators in a fair and accountable manner.
Financial · Procedural statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 17
The Foundation has initiated a Wills and Legacies scheme to obtain long-term funding via an endowment fund.
We have initiated a Wills and Legacies scheme which will be rolled out during the current financial year, with a view to obtaining long term funding via an endowment fund.
Financial · Commitment statement · From Wetwheels Foundation — annual report and accounts, year ending 31 March 2025, page 17