OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REFORM CORPORATION

Company Registration Number: (England and Wales) 02891985

Charity Number: 1047631

Trustees’ Report and Unaudited Financial Statements

For the year:

Start date: 1 April 2022

End date: 31 March 2023

REFORM CORPORATION

Company Information

for the Year Ended 31 March 2023

Trustee: Imenvbore OJEIKERE Registered office: 7 Oxford Road London E15 1DD Company Registration Number: 02891985 (England and Wales) Charity Number: 1047631

Page of 2 12

REFORM CORPORATION

Trustees' Report for the Year Ended 31 March 2023

The Trustees present their report with the financial statements of the company for the year ended 31 March 2023.

Principal Activities

The principal activities are to provide mediation, advocacy, health advice and information and to alleviate poverty and stress. Our key activities in the year included:

Trustees

The trustees shown below have held office during the whole of the period from1 April 2022 to 31 March 2023:

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of trustees on 20 October 2023 And Signed On Behalf Of The Board By:

Name: Imenvbore OJEIKERE Status: Trustee

Page of 3 12

REFORM CORPORATION

Statement of Financial Activities

for the Year Ended 31 March 2023

Note
Incoming resources
3
Voluntary income
Charitable activities
Investment income
Total incoming resources
Resources expended
4
Cost generating voluntary income
Charitable activities
Governance costs
Total resources expended
Net incoming/(outgoing) resources before
transfers
Gross transfers between funds
Net movement in funds
Total funds brought forward
Total funds Carried forward
9		 Restricted
Funds
£
215,468
1,176
216,644
13,827
78,858
0
92,685
123,959
0
123,959
108,001
231,960		 Unrestricted
Funds
£
0
0
3
3
0
0
2618
2,618
(2,615)
0
(2,615)
3140
525		 Total
2023
£
215,468
1,176
3
216,647
13,827
78,858
2,618
95,303
121,344
0
121,344
111,141
232,485		 Total
2022
£
167,526
11,600
0
179,126
11,389
154,451
2,278
168,118
11,008
0
11,008
100,133
111,141

The Charity does not have any gains and losses other than Profit and Loss for the period to report.

Page of 4 12

REFORM CORPORATION

Balance Sheet

As at 31 March 2023

Notes
Fixed Assets
Tangible assets
Intangible assets
Total fxed assets
Current Assets
Stock
7
Prepayments and accrued income
Cash at bank and in hand
Total current assets
Creditors:
Amounts falling due within one year
8
Net Current Assets
Total Assets Less Current Liabilities
Creditors:
Amounts falling due after more than one year
Net assets
Funds of the Charity
9
Restricted funds
Unrestricted funds
Total funds		 2023
£
0
0
0
234,456
0
29
234,485
2,000
232,485
232,485
0
232,485
231,960
525
232,485		 2022
£
0
0
0
112,972
0
169
113,141
2,000
111,141
111,141
0
111,141
108,001
3,140
111,141

Page of 5 12

REFORM CORPORATION

Balance Sheet (continued)

As at 31 March 2023

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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 and in accordance with the Financial Reporting Standard for Smaller Entities 2008.

The financial statements were approved by the Board of Trustee on 20 October 2023.

SIGNED ON BEHALF OF THE BOARD BY:

Name: Imenvbore OJEIKERE Status: Trustee

The notes of following pages form part of these financial statements

Page of 6 12

REFORM CORPORATION

Notes to the Financial Statements

for the Year Ended 31 March 2023

1. Basis of Preparation

The accounts have been prepared under the historical cost model and in accordance with the Financial Reporting Standard for Smaller Entities (2008), Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005), the Charities Act 1993 and Companies are 2006.

There has been no change in accounting policies (valuation rules and methods of accounting) since last year. No changes have been made to the previous year’s accounts.

2. Accounting Policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES
Recognition of incoming
resources		 These are included in the Statement of Financial Activities (SoFA)
when:
•
the charity becomes entitled to the resources;
•
the trustees are virtually certain they will receive the resources;
•
and the monetary value can be measured with suffcient reliability.
Incoming resources with
related expenditure		 Where incoming resources have related expenditure (as with
fundraising or contract income) the incoming resources and related
expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity
has unconditional entitlement to the resources.
Tax reclaims on donations and
gifts		 Incoming resources from tax reclaims are included the SoFA at the
same time as the gift to which they relate.
Contractual income and
performance related grants
and gifts in kind		 This is only included in the SoFA once the related goods or services
have been delivered.
Gifts in kind are accounted for at a reasonable estimate of their value to
the charity or the amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as fts
only when sold or distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming
resources when receivable.
Donated help The value of any voluntary help received is not included in the accounts
but is described in the trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sales of investments and any gain
or loss resulting from revaluing investment to market value at the end
of the year.

Page of 7 12

REFORM CORPORATION

Notes to the Financial Statements

for the Year Ended 31 March 2023

EXPENSIDURE AND
LIABILITIES
Liability recognitions Liabilities are recognised as soon as there is a legal or constructive
obligation committing the charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts,
costs of trustee meetings and cost of any legal advice to trustees on
governance or constitutional matters.
Grants and and performance
conditions		 Where the charity gives grants with conditions for its payment being a
specifc level of service or output to be provided, such grants are only
recognised in the SoFA once the recipient of the grant has provided the
specifed service or output.
Grants payable without
performance conditions		 These are only recognised in the accounts when a commitment has
been made and there are no conditions to be met relating to the grant
when remain in the control of the charity.
Support costs Support costs include central functions and have been allocated to
activity cost categories on a basis consistent with the use of resources,
eg allocating property costs by foor areas, or per capita, staff costs by
the time spent and other costs by their usage.
ASSETS
Tangible fxed assets for use
by charity		 These are capitalised if they can be used for more than one year, and
cost at least £100. They are valued at cost or, if gifted, at the value to
the charity on receipt.
Investments Investments quoted on a recognised stock exchange, if any, are valued
at market value at the year end. Other investments assets are included
at trustees’ best estimate of market value.
Stock and work in progress These are valued at the lower of cost or market value.
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE		 None

Page of 8 12

REFORM CORPORATION

Notes to the Financial Statements

for the Year Ended 31 March 2023

3. Analysis of Incoming Resources

Voluntary income
Poverty relief project
Gift aid
Donations
Total incoming resources from voluntary income
Incoming resources from charitable activities
Management consultancy and training
Health promotion – Covid
Sundry income
Total incoming resources from charitable
activities		 Restricted
£
63,178
152,290
215,468
0
1,176
0
1,176		 Unrestricted
£
0
0
0
0
0
0
0		 Total
2023
£
63,178
152,290
215,468
0
1,176
0
1,176		 Total
2022
£
164,536
2,990
167,526
8,600
3,000
0
11,600

Page of 9 12

REFORM CORPORATION

Notes to the Financial Statements

for the Year Ended 31 March 2023

4. Analysis of Resources Expended

Cost of generating voluntary income
Rent, light and heat
Telephone
Insurance
Printing postage stationery
Sundries
Total
Charitable activities
Project cost
Seminars and workshops
Advertising and publicity
Travelling and transport
Repairs and Maintenance
Training and organisational development
Africa poverty relief
Health Promotion (Covid)
Bank charges
Total
Governance costs
Accountancy fees
Legal fees
Total		 Restricted
£
11,539
1,075
0
1,213
0
13,827
16,306
11,069
0
7,208
1,504
3,920
17,000
21,849
2
78,858
0
0
0		 Unrestricted
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,000
618
2,618		 Total
2023
£
11,539
1,075
0
1,213
0
13,827
16,306
11,069
0
7,208
1,504
3,920
17,000
21,849
2
78,858
2,000
618
2,618		 Total
2022
£
8,890
981
275
1,214
29
11,389
138,701
2,197
0
1,511
0
5,200
6,838
0
4
154,451
2,000
278
2,278

Page 10 of 12

REFORM CORPORATION

Notes to the Financial Statements

for the Year Ended 31 March 2023

5. Details of certain items of expenditure

6.
Paid employees
7.
Stock
Trustee expenses
Number of trustees who were paid expenses
Nature of expenses
Total amount paid
Fees for examination of accounts
Independent examiner’s fees
Other fees (eg: advice, consultancy, accountancy services)
Total fees paid
Staff costs
Gross wages, salaries and benefts in kind
Social security cost
Total staff costs
Average number of full-time equivalent employees in the year
Fundraising
Charitable activities
Governance
Other fees (eg: advice, consultancy, accountancy services)
Total
Stock of donated items		 2023
£
‘None’
0
0
2,000
0
2,000
2023
£
0
0
0
0
0
1
0
1
2023
£
234,456		 2022
£
None’
0
0
2,000
0
2,000
2022
£
0
0
0
0
0
1
0
1
2022
£
112,972

Page of 11 12

REFORM CORPORATION

Notes to the Financial Statements

for the Year Ended 31 March 2023

8. Creditors and accruals

Social security
Accruals
Total		 Amounts falling due
within one year
2023
2022
£
£
0
0
2,000
2,000
2,000
2,000		 Amounts falling due after
more than one year
2023
2022
£
£
0
0
0
0
0
0		 Amounts falling due after
more than one year
2023
2022
£
£
0
0
0
0
0
0
0

9. Movements on major funds

Poverty eradication/Voluntary
Unrestricted
Total funds		 Funds
b/f
£
108,001
3,140
111,141		 Incoming
resources
£
216,644
3
216,647		 Outgoing
resources
£
(92,685)
(2,618)
(95,303)		 Transfers
£
0
0
0		 Gains &
losses
£
123,959
(2,615)
121,344		 Funds
c/f
£
231,960
525
232,485

Outgoing resources are apportioned to restricted fund proportionately to funds receivable in the year.

Page 12 of 12