CFSGBI LTD
Charity No. 1092782
Company No. 04338320
Trustees' Report and Unaudited Accounts
30 September 2024
CFSGBI LTD Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Statement of Cash flows | 8 | |
| Notes to the Accounts | 9 to | 15 |
| Detailed Statement of Financial Activities | 16 to | 17 |
Page 1
CFSGBI LTD Trustees Annual Report
CFSGBI LTD
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 September 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04338320
Charity No. 1092782
Address Line 5
Registered Office
5 Singleton Court Wonastow Road Industrial Est
Monmouth Gwent NP25 5JA
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
M. Bowden (Resigned 19 April 2024) C.R. Mattick M. Rowe (Resigned 23 January 2025)
Company Secretary
A. Bronkhorst
Accountants
pH & Co 5 Singleton Court Wonastow Road Industrial Est Monmouth Gwent NP25 5JA
Page 2
CFSGBI LTD Trustees Annual Report
OBJECTIVES AND ACTIVITIES
Public benefits
The trustees have complied with their duty to have due regard to the Charity Commission's public benefit
guidance. The main activities of the Society during the year ended 30 September 2024 included: A multidisciplinary scientific and educational conference with associated prizes for excellence; supporting an educational programme to prevent delayed detection of cleft palate - both financially and with clinical input; and support of research governance processes.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Trustees are responsible for keeping proper accounting records that 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 the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
A. Bronkhorst Company Secretary 06 June 2025
Page 3
CFSGBI LTD Independent Examiners Report
Independent Examiner's Report to the trustees of CFSGBI LTD
I report to the charity trustees on my examination of the financial statements of CFSGBI LTD for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity 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 charity's financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
A Kandasamy AFA pH & Co 5 Singleton Court Wonastow Road Industrial Est Monmouth Gwent NP25 5JA 06 June 2025
Page 4
CFSGBI LTD Statement of Financial Activities
for the year ended 30 September 2024
| Notes Income and endowments from: Donations and legacies 4 Investments 5 Other 6 Total Expenditure on: Raising funds 7 Other 9 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ 123,068 3,331 4,719 |
Total funds 2024 £ 123,068 3,331 4,719 |
Total funds 2023 £ 162,007 2,939 5,467 |
|---|---|---|---|
| 131,118 90,712 30,124 |
131,118 90,712 30,124 |
170,413 92,631 34,018 |
|
| 120,836 - |
120,836 - |
126,649 - |
|
| 10,282 - |
10,282 - |
43,764 - |
|
| 10,282 | 10,282 | 43,764 | |
| 10,282 170,926 |
10,282 170,926 |
43,764 127,162 |
|
| 181,208 | 181,208 | 170,926 |
Page 5
CFSGBI LTD Summary Income and Expenditure Account
for the year ended 30 September 2024
| Income Interest and investment income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year |
2024 £ 127,787 3,331 131,118 120,836 120,836 10,282 10,282 |
2023 £ 167,474 2,939 |
|---|---|---|
| 170,413 | ||
| 126,649 | ||
| 126,649 | ||
| 43,764 | ||
| 43,764 |
Page 6
CFSGBI LTD Balance Sheet
at 30 September 2024
| Company No. 04338320 Notes 2024 £ Fixed assets Investments 11 84,832 84,832 Current assets Debtors 12 6,265 Cash at bank and in hand 102,216 108,481 Creditors:Amount falling due within one year 13 (12,105) Net current assets 96,376 Total assets less current liabilities 181,208 Net assets excluding pension asset or liability 181,208 Total net assets 181,208 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 181,208 181,208 Reserves 14 Total funds 181,208 |
2023 £ 77,131 |
|---|---|
| 77,131 7,671 94,073 |
|
| 101,744 (7,949) |
|
| 93,795 170,926 |
|
| 170,926 | |
| 170,926 | |
| 170,926 | |
| 170,926 | |
| 170,926 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 September 2024 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 06 June 2025
And signed on its behalf by:
C.R. Mattick Trustee 06 June 2025
Page 7
CFSGBI LTD Statement of Cash flows for the year ended 30 September 2024
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease/(Increase) in trade and other receivables Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for investments Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2024 £ 10,282 (8,050) 1,406 4,156 7,794 (2,981) 8,050 5,069 - 12,863 94,073 106,936 102,216 102,216 |
2023 £ 43,764 (8,406) (3,606) 481 |
|---|---|---|
| 32,233 (2,897) 8,406 |
||
| 5,509 | ||
| - | ||
| 37,742 | ||
| 61,799 | ||
| 99,541 | ||
| 94,073 | ||
| 94,073 |
Page 8
CFSGBI LTD Notes to the Accounts
for the year ended 30 September 2024
- 1 Accounting policies
Basis of preparation
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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
CFSGBI LTD Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
CFSGBI LTD Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.All exchange differences are are taken into account in arriving at net income/expenditure
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at theinception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 11
CFSGBI LTD
Notes to the Accounts
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Investments Other Total Expenditure on: Raising funds Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Conference & Meetings Subscriptions Donations 5 Income from investments Investment Fund Interest |
Unrestricted £ 100,898 17,127 5,043 123,068 Unrestricted £ 350 2,981 3,331 |
Unrestricted funds 2023 £ 162,007 2,939 5,467 170,413 92,631 34,018 126,649 43,764 43,764 43,764 127,162 170,926 Total 2024 £ 100,898 17,127 5,043 123,068 Total 2024 £ 350 2,981 3,331 |
Total funds 2023 £ 162,007 2,939 5,467 |
|---|---|---|---|
| 170,413 92,631 34,018 |
|||
| 126,649 | |||
| 43,764 | |||
| 43,764 | |||
| 43,764 127,162 |
|||
| 170,926 | |||
| Total 2023 £ 80,071 16,674 65,262 |
|||
| 162,007 | |||
| Total 2023 £ 42 2,897 |
|||
| 2,939 |
Page 12
CFSGBI LTD Notes to the Accounts
6 Other income
| Revaluation 7 Expenditure on raising funds Costs of generating voluntary income Conference & Meetings 8 Analysis of grants Activity or programme Other Donation Activity or programme Other Donation 9 Other expenditure Motor and travel costs General administrative costs Legal and professional costs |
Unrestricted £ 4,719 4,719 |
Total 2024 £ 4,719 4,719 |
Total 2023 £ 5,467 |
|---|---|---|---|
| 5,467 | |||
| Unrestricted £ 90,712 90,712 Unrestricted £ 45 5,651 24,428 30,124 |
Total 2024 £ 90,712 90,712 Total 2024 £ - Total 2024 £ - Total 2024 £ 45 5,651 24,428 30,124 |
Total 2023 £ 92,631 |
|
| 92,631 | |||
| Total 2023 £ - Total 2023 £ |
|||
| - | |||
| Total 2023 £ 658 9,719 23,641 |
|||
| 34,018 |
10 Staff costs
No employee received emoluments in excess of £60,000.
Page 13
CFSGBI LTD Notes to the Accounts
11 Investments
| Cost or revaluation At 1 October 2023 Additions Revaluation At 30 September 2024 Net book values At 30 September 2024 At 30 September 2023 12 Debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Other creditors Accruals 14 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 15 Analysis of net assets between funds Investments Net current assets |
At 1 October 2023 170,926 170,926 |
2024 £ 6,265 6,265 2024 £ 12,105 - 12,105 Incoming resources (including £ 131,118 131,118 other gains/losses) |
Other investments - Unlisted £ 77,131 2,981 4,720 84,832 84,832 77,131 Resources expended £ (120,836) (120,836) Unrestricted funds £ 84,832 96,376 181,208 |
Total £ 77,131 2,981 4,720 |
|---|---|---|---|---|
| 84,832 | ||||
| 84,832 | ||||
| 77,131 | ||||
| 2023 £ 7,671 |
||||
| 7,671 | ||||
| 2023 £ 7,950 (1) |
||||
| 7,949 | ||||
| At 30 September 2024 £ 181,208 |
||||
| 181,208 | ||||
| Total £ 84,832 96,376 |
||||
| 181,208 |
Page 14
CFSGBI LTD Notes to the Accounts
16 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 October 2023 £ |
Cash flows £ |
At 30 September 2024 £ |
| 94,073 | 8,143 | 102,216 | |
| 94,073 94,073 |
8,143 8,143 |
102,216 | |
| 102,216 |
17 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 15
CFSGBI LTD Detailed Statement of Financial Activities
for the year ended 30 September 2024
| Income and endowments from: Donations and legacies Conference & Meetings Subscriptions Donations Investments Investment Fund Interest Other Revaluation Total income and endowments Expenditure on: Costs of generating donations and legacies Conference & Meetings Total of expenditure on raising funds Motor and travel costs Travel and subsistence General administrative costs, including depreciation and amortisation Bank charges General insurances Software, IT support and related costs Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Management charges |
Unrestricted funds 2024 £ 100,898 17,127 5,043 123,068 350 2,981 3,331 4,719 4,719 131,118 90,712 90,712 90,712 45 45 434 998 3,866 40 313 - 5,651 2,880 21,548 24,428 |
Total funds 2024 £ 100,898 17,127 5,043 123,068 350 2,981 3,331 4,719 4,719 131,118 90,712 90,712 90,712 45 45 434 998 3,866 40 313 - 5,651 2,880 21,548 24,428 |
Total funds 2023 £ 80,071 16,674 65,262 |
|---|---|---|---|
| 162,007 | |||
| 42 2,897 |
|||
| 2,939 | |||
| 5,467 | |||
| 5,467 | |||
| 170,413 92,631 |
|||
| 92,631 | |||
| 92,631 658 |
|||
| 658 | |||
| 363 897 5,926 35 2,102 396 |
|||
| 9,719 | |||
| 3,120 20,521 |
|||
| 23,641 |
Page 16
CFSGBI LTD Detailed Statement of Financial Activities
| Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
30,124 120,836 - 10,282 10,282 - 10,282 170,926 181,208 |
30,124 120,836 - 10,282 10,282 - 10,282 170,926 181,208 |
34,018 |
|---|---|---|---|
| 126,649 - |
|||
| 43,764 | |||
| 43,764 - |
|||
| 43,764 | |||
| 127,162 | |||
| 170,926 |
Page 17