**Charity Registration No. 1112924** ## **THE ZOOM ZOOM TRUST** ## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **THE ZOOM ZOOM TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mrs A L Mitchell Mr M S Mitchell DL Mr M Donnan Mr D C Roberts Mrs D Roberts **Charity number** 1112924 **Independent examiner** Helen Furlong FCCA McLintocks (NW) Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR **Bankers** Barclays Bank Plc Flint Business Centre 19/21 Church Street Flint Clwyd CH6 5AJ **Solicitors** Brabners Chaffe Street Horton House Exchange Flags Liverpool Merseyside L2 3YL ## **THE ZOOM ZOOM TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 9| ## **THE ZOOM ZOOM TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ The Trustees present their report and financial statements for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed , the Charities Act 2011 and "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 2019)". ## **Objectives and activities** The C harity supports other charities and worthy causes under the following headings: (a) Religious Activities (b) Relief of Poverty - (c) General Charitable Purposes ## **Public benefit** The T rustees are of the opinion that the C harity clearly passes the public benefit requirements. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. ## **Achievements and performance Review of activities** The year saw donations and legacies being received of £ 196,962 (201 9 £ 172,551 ). Donations paid were £ 99,005 (201 9 £125,619 ) analysed as follows: |(a) Religious Activities
( b) Relief of poverty
(c) General Charitable Purposes
|2020

£

61,196

8,247

29,562

99,005|2019
£
83,030
9,594
32,995| |---|---|---| |||
125,619| The T rustees hope to continue this level of donations if not increase it. ## **Financial review** ## **Financial position** The C harity received donations and legacies of £ 196,962 and had expenditure of £ 99,725 giving a surplus of £ 97,237 for the year (201 9 surplus £ 46,302 ). This has resulted in funds carried forward of £ 361,008 (201 9 £ 263,771 ). This level of funds carried forward is thought to be more than sufficient to fund anticipated donations in 20 21 . ## **Reserves policy** The future income of the Charity from the Mitchell Group cannot be guaranteed at the same level in the future. The Trustees have therefore agreed that keeping reserves will help charities supported over many years plan for their future income. ## **Future plans** The C harity will continue to make donations at a level at least that of 20 20 . - 1 - ## **THE ZOOM ZOOM TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **Structure, governance and management** ## **Governing document** The C harity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs A L Mitchell Mr M S Mitchell DL Mr M Donnan Mr D C Roberts Mrs D Roberts ## **Induction and training of new trustees** The C harity recruits its Tr ustees from other known to existing Tr ustees allowing for the various skills and experiences they have. Existing T rustees keep up to date with new legislation relevant to charities from various sources including the Charity Commission. ## **Risk management** The T rustees have a duty to identify and review the risks to which the C harity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees' r eport was approved by the Board of Trustees. .............................. ## **Mr M S Mitchell DL** Trustee Dated: ......................... - 2 - ## **THE ZOOM ZOOM TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ZOOM ZOOM TRUST** I report to the Trustees on my examination of the financial statements of The Zoom Zoom Trust (the Charity) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the Trustees of the Charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination , I have followed all the applicable 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: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 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 financial statements to be reached. Helen Furlong FCCA McLintocks (NW) Limited 46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Dated: ......................... - 3 - ## **THE ZOOM ZOOM TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2020**|2019| ||**Notes**|
**£**|**£**| |**Income from:**|||| |Donations and legacies|**2**|196,962|172,551| |**Expenditure on:**|||| |Charitable activities|||| |Religious Activities|**3**|61,916|83,660| |Relief of Poverty|**3**|8,247|9,594| |General Charitable Purposes|**3**|29,562|32,995| |**Total charitable expenditure**||99,725|126,249| |**Net income for the year/**|||| |**Net movement in funds**||97,237|46,302| |Fund balances at 1 January 2020||263,771|217,469| |**Fund balances at 31 December 2020**||361,008|263,771| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **THE ZOOM ZOOM TRUST** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2020**_ |**2020**
**Notes**
**£**
**Current assets**
Debtors
**7**
100
Cash at bank and in hand
361,628
361,728
**Creditors: amounts falling due within**
**one year**
**8**
(720)
Net current assets
**Income funds**
Unrestricted funds
The financial statements were approved by the Trustees on ......................
..............................
..............................
Mr M S Mitchell DL
Mrs D Roberts
**Trustee**
**Trustee**|**£**
361,008
361,008
361,008
...|**2019**
**£**
-
264,401
264,401
(630)|**£**
263,771
263,771
263,771| |---|---|---|---| - 5 - ## **THE ZOOM ZOOM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and "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 2019)". The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling , which is the functional currency of the Charity. Monetary a mounts in these financial statements are rounded to the nearest £. At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.3 Incoming resources** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.4 Resources expended** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the C harity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The C harity is exempt from tax on its charitable activities. ## **1.5 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 6 - ## **THE ZOOM ZOOM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** **(Continued)** ## **1.6 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **2 Donations and legacies** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2020**|2019| ||**£**|£| |Donations and gifts|184,800|172,551| |Legacies receivable|12,162|-| ||196,962|172,551| - 7 - ## **THE ZOOM ZOOM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **3 Charitable activities** |**Religious**
**Activities**
**2020**
**£**
Donations and grants paid
61,196
Share of gov costs (see note 4)
720
61,916
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent Examiner's
fees
-
720
-
720
Analysed between
Charitable activities
-
720|**Relief of**
**Poverty**
**General**
**Charitable**
**Purposes**
**Total**
**2020**
**2020**
**2020**
**£**
**£**
**£**
8,247
29,562
99,005
-
-
720
8,247
29,562
99,725
**2020**
Support
costs
Governance
costs
**£**
£
£
720
-
630
720
-
630
720
-
630|**Total**
**2019**
**£**
125,619
630
126,249
2019
£
630
630
630| |---|---|---| |||| |||| ## **4 Support costs** ## **5 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. ## **6 Employees** The average monthly number of employees during the year was: ||**2020**|**2019**| |---|---|---| ||**Number**|**Number**| |Total|-|-| - 8 - ## **THE ZOOM ZOOM TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**7**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**8**
**Creditors: amounts falling due within one year**
Trade creditors|**2020**
**£**
100
**2020**
**£**
720|**2019**
**£**
-
**2019**
**£**
630| |---|---|---| ## **9 Related party transactions** ## **Transactions with related parties** During the year , the C harity received donations amounting to £ 184,800 (2019 £171,170) from Mitchell North West Limited, a company in which the Trustees, Mr M S Mitchell DL and Mrs A L Mitchell are materially interested . - 9 -