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2023-04-30-accounts

THE SNOWDROP FOUNDATION

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR 30 APRIL 2023

REGISTERED CHARITY NUMBER: 1093474

THE SNOWDROP FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 APRIL 2023

Page
Report of the Trustees 2 to 5
Report of the Independent Examiner 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 11

THE SNOWDROP FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR TO 30 APRIL 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number: 1093474

Trustees: B Rebbettes S P Rebbettes D T Rebbettes S R Rebbettes Registered Office: C/O B C M S Kingsbrook House Kingsclere Park Kingsclere Newbury RG20 4SW Bankers: Metro Bank Chiswick House Unit 1 Festival Way Basingstoke Hampshire RG21 7LD

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THE SNOWDROP FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR TO 30 APRIL 2023

The trustees present their report with the financial statements of the charity for the year ended 30 April 2023.

The trustees have adopted the provisions of 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.

CONSTITUTION

The trust is governed by a Declaration of Trust dated 8 August 2001 and was entered on the Central Registered of Charities with effect from 20 August 2002.

OBJECTIVES AND ACTIVITIES

(including objectives and aims for the public benefit)

The principal activity of the Trust was to collect donations for the relief of poverty distress or suffering by appropriate assistance in any part of the world and in particular by the provision of aid to the needy in the United Kingdom, India, Nepal and Africa.

Whether victims of:

Also the promotion and advancement of the Christian religion in any part of the world and in particular in the United Kingdom, India, Nepal and Africa.

In setting these objectives, the trustees have had due regard to public benefit guidance published by the Charity Commission, in accordance with their duty under section 17 of the Charities Act 2011.

Achievements and performance

The main activities of the Trust are to:

All the above activities have been achieved.

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THE SNOWDROP FOUNDATION

REPORT OF THE TRUSTEES FOR THE PERIOD YEAR TO 30 APRIL 2023

Opportunities and challenges for the future

The global economic climate has created some challenges for the Trust, primarily with regards to the cost of activities in India. Donations have been relatively stable and some of our generous donors have increased their giving to support the Trust’s activities in spite of increased costs. These costs have begun to stabilise and the slight favourable exchange rate has assisted the charity.

The economic climate may present future challenges with regards to levels of donations and also those requiring charitable support. In spite of any future challenges, the Trust is committed to continuing to support the charitable activities in India and the UK. The Trust also endeavours to support other causes, where it can, to help relieve distress, suffering and poverty.

FINANCIAL REVIEW

The Statement of Financial Activities is described on page 7.

Financial Support

The Snowdrop Foundation (“the Charity”) benefits from the generous support of various donees. During the year to 30 April 2023 the charity received £119,401 (2022: £110,057) from the donees.

The charity does not make use of financial instruments.

Public Benefit Reporting

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grant making policy.

Reserves policy

The charity is funded with an expectation to spend all public funds which are received, and therefore has a policy not to maintain excessive reserves. The level of reserves held is monitored regularly by the board of trustees to ensure that sufficient funds are available to meet the charity’s liabilities and obligations as they fall due.

However, the charity needs to maintain a certain level of reserves to facilitate day-to-day operations. At 30[th] April 2023 the charity held reserves of £29,274. The trustees consider this to be an adequate level of reserves.

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THE SNOWDROP FOUNDATION

REPORT OF THE TRUSTEES FOR THE PERIOD YEAR TO 30 APRIL 2023

Risk management

The main risk for the organisation is a reduction in donations being received due to economic circumstances. The trust has seen a slight decrease in donations, which the trustees don’t consider to be a major risk at present.

Another risk for the organisation is the fluctuating value of Sterling. However, the trust does not believe this is a significant risk to donations.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document (trust deed), adopted on 8 August 2001.

Recruitment and appointment of trustees

The Chairman and the Board of Trustees were selected for appointment on merit, through a fair and open recruitment process.

Trustee induction

All new Trustees receive various documents detailing the legal obligations of Trustees, alongside the Articles of Association, key policy and governance documents and details of the organisational structure.

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

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THE SNOWDROP FOUNDATION

REPORT OF THE TRUSTEES FOR THE PERIOD YEAR TO 30 APRIL 2023

In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

In so far as each of the Trustees is aware:

Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report for 2023 was approved by the Board of Trustees on 30[th] January 2024 and signed on their behalf by:

……………………………..

S Rebbettes Trustee

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REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE SNOWDROP FOUNDATION

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 April 2023 which are set out on pages 7 to 11.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records;

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.

…………………………….

ALEXANDRA SAMANTHA FONTAINE MBE

809 HOWARD HOUSE DOLPHIN SQUARE LONDON SW1V 3PQ

Xxth xxxxxxx 2023

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THE SNOWDROP FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR TO 30 APRIL 2023

Notes

INCOME
Donations
Gift Aid
2
Total income
EXPENDITURE
3
Charitable activities
Other resources expended
Total expenditure
Net movement of resources
Reconciliation of funds:
Transfers between funds
Total funds brought forward
Total funds carried forward		 2023
Unrestricted
funds
£
82,722
7,153
89,875
82,775
47
82,822
7,053
(3,600)
21,055
24,508		 2023
Restricted
funds
£
23,376
6,150
29,526
31,266
-
31,266
(1,740)
3,600
2,906
4,766		 2023
Total
funds
£
106,098
13,303
119,401
114,041
47
114,088
5,313
-
23,961
29,274		 2022
Total
funds
£
110,057
18,804
128,861
126,336
183
126,519
2,342
-
21,619
23,961

CONTINUING OPERATIONS

All incoming resources and resources expended arise from continuing activities.

There were no gains or losses for the year other than those recognised in the statement of financial activities.

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THE SNOWDROP FOUNDATION

BALANCE SHEET AT 30 APRIL 2023

Notes

CURRENT ASSETS
Cash at Bank and in hand
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET ASSETS
FUNDS
5
General Unrestricted Funds
Restricted Income Funds
TOTAL FUNDS		 2023
Unrestricted
funds
£
24,508
24,508
24,508
24,508
24,508
-
24,508		 2023
Restricted
funds
£
4,766
4,766
4,766
4,766
-
4,766
4,766		 2023
Total
funds
£
29,274
29,274
29,274
29,274
21,055
2,906
29,274		 2022
Total
funds
£
23,961
23,961
23,961
23,961
21,055
2,906
23,961

The financial statements were approved by the Board of Trustees on 30[th] January 2024 and were signed on its behalf by:

……………………………..

S Rebbettes Trustee

Charity number: 1093474

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THE SNOWDROP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 APRIL 2023

1. ACCOUNTING POLICIES

General Information

The Snowdrop Foundation is a charity registered in England and Wales. The registered and principal office is disclosed on page 1.

Accounting convention

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charitable SORP (FRS102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared on a going concern basis and under the historic cost convention. The financial statements are prepared in sterling which is the functional currency of the charity.

Going Concern

After reviewing the charity’s forecasts and projections and taking into account the economic conditions, the trustees have reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

The principal accounting policies for the charity are set out below:

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, and are recognised in the period to which they relate.

Grant income, whether “capital” or “revenue” grants, is recognised when the charity has entitlement to the funds, any performance conditions are attached to grants have been met, it is probable that the income will be received, and the amount can be measured reliably.

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated or apportioned to applicable expenditure headings.

Fund accounting

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

Restricted funds include designated funds where donations are given on the condition that the donation is used for a specific purpose.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with an original maturity date of three months or less.

Cash Flow Statement

The charity is exempt from presenting a cash flow statement, as it qualifies as a small charity under the SORP.

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THE SNOWDROP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR TO 30 APRIL 2023

2. DONATIONS AND LEGACIES

Donations from individuals
Donations from organisations
3. CHARITABLE EXPENDITURE
Charitable donations
Other		 2023
£
41,400
64,698
106,098
2023
£
114,041
47
114,088		 2022
£
59,454
50,603
110,057
2022
£
126,336
183
126,519

4. TRUSTEES REMUNERATION AND EXPENSES

No trustees received any remuneration, benefits or other payments from the charity during the period.

5. MOVEMENT IN FUNDS

Unrestricted Funds
General Funds
Restricted Funds
Restricted Income Funds
TOTAL FUNDS		 At 1 May
2022
£
21,055

2,906
23,961		 Income

£
89,875
29,526
119,401		 Expenditure
£
(82,822)
(31,266)
(114,088)		 Transfers
£
(3,600)
3,600
-		 At 30
April 2023
£
24,508
4,766
29,274

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THE SNOWDROP FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR TO 30 APRIL 2023

6. CONTROLLING PARTY

The trustees consider that there is no individual controlling party.

7. RELATED PARTY TRANSACTIONS

The total amount of donations received without conditions from trustees or other related parties was £74,525 (2022 - £67,915).

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