Charity number: 1019789 Company number: 2802394
Going Public Trust Limited (A company limited by guarantee)
Trustees’ report and financial statements
for the year ended 31 March 2021
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Contents
| Charity Information | 2 |
|---|---|
| Report of the Trustees | 3 - 5 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 - 15 |
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Going Public Trust Limited (A company limited by guarantee)
Legal and administrative information
| Charity number | 1019789 | |
|---|---|---|
| Company registration number | 2802394 | |
| Registered office | Glenwood Church | |
| Circle Way West | ||
| Llanedeyrn | ||
| Cardiff | ||
| CF23 6UW | ||
| Trustees | Paul Francis (Chair) | |
| William Norman Adams | ||
| Peter Brooks | ||
| John Gallagher | (resigned 4thMay 2021) | |
| Peter Richardson | ||
| Esther Mantle | ||
| Bankers | Barclays Bank | |
| Independent Examiner | Steve Ellum & Associates | |
| Chartered Accountants | ||
| Adulam House | ||
| Glan Yr Afon | ||
| Llanelli | ||
| SA15 3QB |
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Going Public Trust Limited (A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the period ended 31 March 2021
Due to Covid 19 ministry opportunities were limited.
Did a small number of schools presentations
Produced online resources for schools and churches The trustees present their report and the independently examined financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities".
Objectives of the Charity
After a period of being a part of The Gate Trust Ltd, this situation was reversed as of September 1st 2016 and Going Public Trust Limited began working independently again from that date.
The organisation continues to be involved in three areas:
Theatre in Education: providing resources, presentations and support to local primary and secondary schools, particularly in the areas of mental health, relationships and sex education
Sound of Wales: providing support to churches in worship leading and performing at various events and concerts
Internship: providing training - both theory and practical - to young people based on biblical teaching
Achievements and performance
.Wrote and developed new material for Primary Schools on the themes of emotional and mental wellbeing.
Worked with local church and helping with online recordings for services
Where possible, Going Public resources and literature were displayed, raising the profile of Going Public nationally.
Sound of Wales
Due to Covid 19 ministry opportunities were limited.
Involved online in teaching at Bible College of Wales, London school of Theology, Victory academy, Elim School,
Developed large bank of online resources of music for churches
Recorded music for churches
Involved in many zoom planning meetings
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Going Public Trust Limited (A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the period ended 31 March 2021
Going Public Internship programme
This exists to develop Christian discipleship and leadership competencies in young people. It fulfils this via an internship scheme bedded in real-work environments, and linked to various education and development opportunities. The internship is based around the holistic learning triangle, involving 'head-hands-heart' approaches to transformational change.
This year we had 3 interns.
Due to Covid and lockdown opportunities for ministry support were limited.
Helped with food distribution to vulnerable people through our two buildings – serving
almost 10,000 meals
Helped with the online children and young people programmes – creating content and
video’s
Participated in weekly teaching and training programme.
Helped with Christmas parcel distribuition
Public benefit
The Trustees have paid due regard to the Charity Commission guidance on public benefit in deciding what activities the charity should undertake. The paragraphs above provide further information.
Structure, Governance and Management
Governing document
Going Public is a registered charity and a company limited by guarantee, governed by its Memorandum and Articles of Association. It was incorporated on 23 March 1993, and registered as a charity on 7 April 1993.
Trading Name
Going Public Trust Limited operates under a trading name "Going Public", and is based in Glenwood Church Centre in Llanedeyrn Cardiff.
Board of Trustees
The Directors of the charitable company ("the charity") are its trustees for the purposes of charity law, and throughout this report are collectively referred to as the trustees. The trustees meet at least three times a year as a full group. Trustees have been chosen based on their professional expertise, interest in the arts and commitment to Going Public's vision.
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Going Public Trust Limited (A company limited by guarantee)
Report of the trustees (incorporating the directors' report) for the period ended 31 March 2021
Trustee Induction
The need for new trustees is reviewed bi-annually and, when appropriate, possible names are presented at a trustee meeting for consideration. Appointment is made by the existing trustees for an indefinite period . New trustees are given copies of the governing documents, appropriate New trustees undergo induction to brief them on their legal obligations under charity law, the content of the Trust Deed and the committee and decision making process. They meet key employees and other trustees. Trustees are encouraged to attend external training events, where these will be of benefit to their role.
Financial Review
Net incoming resources for the year amounted to £6,213 (2020: (£3,777)). Total funds carried forward at the year-end were £9,998 (2020: £3,785).
Statement of trustees' responsibilities
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 charity as at the balance sheet date and of their income and expenditure, for the financial year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently,
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make judgements and estimates that are reasonable and prudent,
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state whether applicable accounting standards and Statements of
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Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in operation.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with Companies Act 2006. 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.
On behalf of the Directors/Trustees
Paul Francis
Director/Chair of Trustees
Date: 16[th] December 2021
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Going Public Trust Limited (A company limited by guarantee)
Independent Examiner’s report to the trustees of Going Public Trust Limited for the year ended 31 March 2021
I report on the accounts of Going Public Trust Limited for the year ended 31 March 2021 set out on pages 3 to 15.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 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 accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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.
Steve Ellum & Associates Chartered Accountants Adulam House Glan Yr Afon Llanelli SA15 3QB
Date: 16[th] December 2021
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Going Public Trust Limited (A company limited by guarantee)
Statement of financial activities (incorporating the income and expenditure account)
For the year ended 31 March 2021
| Note Income Income from generating funds: Voluntary income Income from charitable activities Other income 3 4 Total income Expenditure Charitable activities 5 Total expenditure Net (outgoing)/incoming resources for the period Total funds brought forward Total funds carried forward |
Unrestricted funds £ Restricted funds £ Year ended 31/03/21 £ Year ended 31/03/20 £ 43,743 5,035 1,003 14,143 44,746 5,035 14,143 57,390 35,673 115 |
|---|---|
| 48,778 15,146 63,924 93,178 |
|
| 43,568 14,143 57,711 96,955 |
|
| 43,568 14,143 57,711 96,955 |
|
| 5,210 1,003 6,213 (3,777) 2,619 1,166 3,785 7,562 |
|
| 7,829 2,169 9,998 3,785 |
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Going Public Trust Limited (A company limited by guarantee)
Balance sheet as at 31 March 2021
| Note Current assets Debtors Cash at bank and in hand 8 Creditors: amounts falling due within one year 9 Net current assets Creditors: amounts falling after one year 10 Net Assets Funds Restricted funds Unrestricted funds Total funds |
31st March 2021 £ £ 573 32,347 32,920 16,072 16,848 6,850 9,998 2,169 7,829 9,998 |
31st March 2020 £ £ 4,909 6,739 11,648 413 11,235 7,450 3,785 1,166 2,619 3,785 |
31st March 2020 £ £ 4,909 6,739 11,648 413 11,235 7,450 3,785 1,166 2,619 3,785 |
31st March 2020 £ £ 4,909 6,739 11,648 413 11,235 7,450 3,785 1,166 2,619 3,785 |
|---|---|---|---|---|
| 3,785 | ||||
| 1,166 2,619 |
||||
| 3,785 |
For the 12 months ending 31 March 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved and authorised by the directors on 16[th] December 2021
Paul Francis Director/Chair of Trustees
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements for the year ending 31 March 2021
1 Charity status
Going Public is a company limited by guarantee and registered in England and Wales, registration number 2802394, and a charity registered in England and Wales number 1019789. The registered office is Glenwood Church, Circle Way West, Llanedeyrn, Cardiff CF23 6UW.
Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared 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 (FRS102) in October 2019, the Charities Act 2011, the Companies Act 2006 and the UK Generally Accepted Accounting Practice.
Basis of preparation
Going Public Ltd 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements for the year ending 31 March 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
3. Voluntary Income
| Regular Donations One-off Donations Reclaimed Tax |
Unrestricted funds £ Restricted funds £ 2021 Total funds £ 2020 Total funds £ 36,537 816 37,353 44,441 1,201 - 1,201 4,953 6,005 187 6,192 7,996 |
|---|---|
| 43,743 1,003 44,746 57,390 |
4. Income from charitable activities
| Theatre in Education Sound of Wales Events Internship fees |
Unrestricted funds £ Restricted funds £ 2021 Total funds £ 2020 Total funds £ 1,800 - 1,800 8,615 81 - 81 18,394 - 3,154 - - - 3,154 769 7,895 |
|---|---|
| 5,035 - 5,035 35,673 |
5. Total Resources Expended
| Employment costs Marketing costs Operating expenses Establishment costs Internship expenses Grants & Donations |
Unrestricted Funds £ Restricted Funds £ 2021 Total funds £ 2020 Total funds £ 32,321 683 14,143 - 46,464 683 61,920 874 7,067 874 2,623 - - - 7,067 874 2,623 5,967 14,226 4,876 9,092 |
|---|---|
| 43,568 14,143 57,711 96,955 |
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements
for the year ending 31 March 2021
6. Trustees’ remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
7. Employees
| Employment costs Wages & salaries Social security & Pension costs |
Year ending 31/3/21 £ Year ending 31/3/20 £ 45,326 60,081 1,138 1,839 |
|---|---|
| 46,464 61,920 |
No employee received emoluments of more than £60,000 during the year.
The charity is managed on a day to day basis by the trustees who are unpaid and therefore the total employment benefits, including employer pension contributions, of the key management personnel of the charity were £nil (2020: £nil).
Number of employees
The average monthly number of employees during the period, calculated on the basis of full time equivalents were as follows:
| Year ending | Year ending | |
|---|---|---|
| 31/3/21 | 31/3/20 | |
| Charity staff | 2.6 | 3.4 |
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements for the year ending 31 March 2021
8. Debtors
| Debtors | |
|---|---|
| Trade debtors Gift Aid tax recoverable Taxes and social security |
Year ending 31/3/21 £ Year ending 31/3/20 £ - 2,925 573 - 648 1,336 |
| 573 4,909 |
9. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Deferred income |
Year ending 31/3/21 £ Year ending 31/3/20 £ 5,884 - 188 10,000 413 |
|---|---|
| 16,072 413 |
10. Creditors: Amounts falling due after more than one year
| Loan from Glenwood Others Loans |
Year ending 31/3/21 £ Year ending 31/3/20 £ 1,850 2,450 5,000 5,000 |
|---|---|
| 6,850 7,450 |
All the loans are interest free and have no set repayment date.
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements for the year ending 31 March 2021
11. Unrestricted Funds
| General fund Total |
Balance at Balance at Incoming Resources 31 March 1 April 2020 £ Resources £ expended £ 2021 £ 2,619 48,778 43,568 7,829 2,619 48,778 43,568 7,829 |
|---|---|
12. Restricted Funds
| Restricted Funds | |
|---|---|
| Salt & Light Total |
Balance at 1 April 2020 £ 1,166 Incoming Resources £ 1,003 Resources expended £ - Balance at 31 March 2021 £ 2,169 |
| 1,166 1,003 - 2,169 |
Salt & Light is an organisation run by an associate, Peter Cole, who is involved in schools work.
13 Analysis of net assets between funds
| Current assets Current liabilities Long-term liabilities |
Unrestricted Restricted 2021 2020 Funds Funds Total Total £ £ funds funds £ £ 30,751 2,169 32,920 11,648 (16,072) - (16,072) (413) (6,850) - (6,850) (7,450) |
|---|---|
| 7,829 2,169 9,998 3,785 |
14 Transactions with trustees
As allowed by the Charity Trust Deed, Paul Francis was reimbursed expenses of £647 (2020: £150).
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements for the year ending 31 March 2021
15 Related parties
Gate Trust Limited is related as two of the trustees of the charity served as trustees of Going Public during the financial year. These were Norman Adams and John Gallacher. During the year invoices were raised by Going Public to Gate Trust of £nil (2020: £nil) and by Gate Trust to Going Public of £nil (2020: £nil).
Hope Trust Cardiff CIO is related as Paul Francis, a trustee of the charity, also served as a trustee of Going Public during the financial year. During the year invoices were raised by Going Public to Hope Trust Cardiff CIO of £1,800 (2020: £nil) and by Hope Trust Cardiff CIO to Going Public of £nil (2020: £nil).
Glenwood Church is related as four of the trustees of the charity served as trustees of Going Public Trust during the financial year. These were Paul Francis, Norman Adams, Esther Mantle & John Gallacher. During the year Glenwood raised invoices of £1,483 (2020: £1,808) to Going Public. Going Public raised invoices of £nil (2020: £nil) to Glenwood. At the end of the year Going Public owed Glenwood £nil (2020: £nil) and owed back a loan of £1,850 (2020: £2,450) and Glenwood owed Going Public £nil (2020: £nil).
16 Taxation
The company is a registered charity and is, therefore, exempt from taxation.
17 Controlling parties
In the opinion of the trustees there is no single ultimate controlling party of the charity
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Going Public Trust Limited (A company limited by guarantee)
Notes to financial statements for the year ending 31 March 2021
18 Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 March 2020
| Income Income from generating funds: Voluntary income Income from charitable activities Other income Total income Expenditure Charitable activities Total expenditure Net incoming/(outgoing) resources for the period Total funds brought forward Total funds carried forward |
Unrestricted funds £ Restricted funds £ Year ended 31/03/20 £ 47,863 35,673 115 9,527 0 0 57,390 35,673 115 |
|---|---|
| 83,651 9,527 93,178 |
|
| 87,863 9,092 96,955 |
|
| 87,863 9,092 96,955 |
|
| (4,212) 435 (3,777) 6,831 731 7,562 |
|
| 2,619 1,166 3,785 |
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