CHARITY REGISTRATION NUMBER: 1092363
P.R.O.P - People's Relief of Pressure Unaudited Financial Statements
31 March 2023
S J ACCOUNTING SERVICES (NE) LTD
P.R.O.P - People's Relief of Pressure
Trustees' Annual Report
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report | 3 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
P.R.O.P - People's Relief of Pressure
Trustees' Annual Report
Year ended 31 March 2023
The trustees present their report and the unaudited financial statements of the company for the year ended 31 March 2023.
Reference and administrative details
Registered charity name P.R.O.P - People's Relief of Pressure Charity registration number 1092363 Principal office 39 Osborne Road Hartlepool TS26 9JN
The trustees
Miss S Leck S Bateman B Boocock Independent examiner SJ Accounting Services (NE) Ltd 3 Galava Walk Ingleby Barwick Stockton on Tees TS17 5JD
Structure, governance and management
Governing document
P.R.O.P - People's Relief Of Pressure is an unincorporated registered charity governed by its constitution which was adopted on 21 March 2002. The charity is administered by a management committee.
Objectives and activities
The Charity's objectives are the relief of people who are suffering from a mental illness in particular but not exclusively by the provision of facilities for recreation and other leisure time occupation with the object of improving their condition of life.
Achievements and performance
PROP received funding from Penderel's during the year, this enabled the charity to continue to support people who are suffering from a mental illness and to help them to improve their lifestyle in and around the Hartlepool area.
P.R.O.P - People's Relief of Pressure
Trustees' Annual Report (continued)
Year ended 31 March 2023
Financial review
The results of the year are reflected in the statement of Financial Activities. The accounts show a surplus of £14,547 to carry forward into the next year. Reserves stand at £30,480 all of which being unrestricted funds.
Reserves Policy
The trustees aim is to expend all funds on their charitable objects; however, they recognise the need to maintain a certain level of reserves as a cushion against possible future difficulties. Free reserves at the level of 6 months running costs would allow the charity to continue it's operations while alternative funding sources were sought.
The trustees' annual report was approved on 16[th] December 2023 and signed on behalf of the board of trustees by:
Miss S Leck Trustee
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P.R.O.P - People's Relief of Pressure
Independent Examiner's Report to the Trustees of P.R.O.P - People's Relief of Pressure
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of P.R.O.P - People's Relief of Pressure ('the company') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the company's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
SJ Accounting Services (NE) Ltd Independent Examiner
3 Galava Walk Ingleby Barwick Stockton on Tees TS17 5JD
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P.R.O.P - People's Relief of Pressure
Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 42,035 | 42,035 | 54,582 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 42,035 | 42,035 | 54,582 | |
| ============================ | ============================ | ============================ | ||
| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 55,643 | 55,643 | 40,035 |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 55,643 | 55,643 | 40,035 | |
| ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net (expenditure)/income and net movement in funds | (13,608) | (13,608) | 14,547 | |
| ============================ | ============================ | ============================ | ||
| Reconciliation of funds | ||||
| Total funds brought forward | 30,480 | 30,480 | 15,933 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total funds carried forward | 16,872 | 16,872 | 30,480 | |
| ============================ | ============================ | ============================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 - 12 form part of these financial statements.
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P.R.O.P - People's Relief of Pressure
Statement of Financial Position
31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 11 | 1,022 | 639 | |
| Current assets | ||||
| Cash at bank and in hand | 16,758 | 31,540 | ||
| Creditors: amounts falling due within one year | 12 | 908 | 908 | |
| ---------------------------- | ---------------------------- | |||
| Net current assets | 15,850 | 30,632 | ||
| ---------------------------- | ---------------------------- | |||
| Total assets less current liabilities | 16,872 | 31,271 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 13 | – | 791 | |
| ---------------------------- | ---------------------------- | |||
| Net assets | 16,872 | 30,480 | ||
| ============================ | ============================ | |||
| Funds of the charity | ||||
| Unrestricted funds | 16,872 | 30,480 | ||
| ---------------------------- | ---------------------------- | |||
| Total charity funds | 14 | 16,872 | 30,480 | |
| ============================ | ============================ |
These financial statements were approved by the board of trustees and authorised for issue on 16[th] December 2023, and are signed on behalf of the board by:
Miss S Leck Trustee
The notes on pages 6-12 form part of these financial statements.
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 40 Avenue Road, Hartlepool, TS24 8AT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- 25% straight line - 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Financial instruments (continued)
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| User Donations | 3,280 | 3,280 | 2,880 | 2,880 |
| Grants | ||||
| Hartlepool Borough Council | 160 | 160 | 2,752 | 2,752 |
| The Penderels Trust (Direct Payment | ||||
| Support) | 38,595 | 38,595 | 44,950 | 44,950 |
| Grants receivable | – | – | 4,000 | 4,000 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 42,035 | 42,035 | 54,582 | 54,582 | |
| ============================ | ============================ | ============================ | ============================ |
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Activity type 1 | 54,808 | 54,808 | 38,054 | 38,054 |
| Support costs | 835 | 835 | 1,981 | 1,981 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 55,643 | 55,643 | 40,035 | 40,035 | |
| ============================ | ============================ | ============================ | ============================ |
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements (continued)
Year ended 31 March 2023
6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Activity type 1 | 54,808 | – | 54,808 | 38,054 |
| Governance costs | – | 835 | 835 | 1,981 |
| ---------------------------- | -------------- | ---------------------------- | ---------------------------- | |
| 54,808 | 835 | 55,643 | 40,035 | |
| ============================ | ============== | ============================ | ============================ |
7. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
| Net (expenditure)/income is stated after charging/(crediting): | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Depreciation of tangible fixed assets | (24) | 798 |
| ============== | ============== | |
| Independent examination fees | ||
| 2023 | 2022 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 600 | 600 |
| ============== | ============== |
8. Independent examination fees
9. Staff costs and emoluments
The average head count of employees during the year was 1 (2022: 1).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
10. Trustee remuneration and expenses
- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements (continued)
Year ended 31 March 2023
| 11. | Tangible fixed assets | |||
|---|---|---|---|---|
| Fixtures and | ||||
| fittings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2022 | 1,381 | 2,089 | 3,470 | |
| Additions | 359 | – | 359 | |
| ----------------------- | ----------------------- | ----------------------- | ||
| At 31 March 2023 | 1,740 | 2,089 | 3,829 | |
| ======================= | ======================= | ======================= | ||
| Depreciation | ||||
| At 1 April 2022 | 370 | 2,461 | 2,831 | |
| Charge for the year | 348 | (372) | (24) | |
| ----------------------- | ----------------------- | ----------------------- | ||
| At 31 March 2023 | 718 | 2,089 | 2,807 | |
| ======================= | ======================= | ======================= | ||
| Carrying amount | ||||
| At 31 March 2023 | 1,022 | – | 1,022 | |
| ======================= | ======================= | ======================= | ||
| At 31 March 2022 | 1,011 | (372) | 639 | |
| ======================= | ======================= | ======================= | ||
| 12. | Creditors: amounts falling due within one year | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Accruals and deferred income | 908 | 908 | ||
| ============== | ============== | |||
| 13. | Creditors: amounts falling due after more than one year | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Other creditors | – | 791 | ||
| ============== | ============== | |||
| 14. | Analysis of charitable funds | |||
| Unrestricted funds |
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | ||||||
| At | 31 March | 20 | ||||
| 1 | April 2022 | Income | Expenditure | 23 | ||
| £ | £ | £ | £ | |||
| General funds | 30,480 | 42,035 | (55,643) | 16,872 |
||
| ============================ | ============================ | ============================ | ============================ | |||
| At | ||||||
| At | 31 March | 20 | ||||
| 1 | April 2021 | Income | Expenditure | 22 | ||
| £ | £ | £ | £ | |||
| General funds | 15,933 | 54,582 | (40,035) | 30,480 |
||
| ============================ | ============================ | ============================ | ============================ |
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P.R.O.P - People's Relief of Pressure
Notes to the Financial Statements (continued)
Year ended 31 March 2023
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 1,022 | 1,022 |
| Current Assets | 15,850 | 15,850 |
| ---------------------------- | ---------------------------- | |
| Net assets | 16,872 | 16,872 |
| ============================ | ============================ | |
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 639 | 639 |
| Current Assets | 29,841 | 29,841 |
| ---------------------------- | ---------------------------- | |
| Net assets | 30,480 | 30,480 |
| ============================ | ============================ |
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