**Charity registration number 1112924**
## **THE ZOOM ZOOM TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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 2023**_
The Trustees present their annual report and financial statements for the year ended 31 December 2023.
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 Charity supports other charities and worthy causes under the following headings:
(a) Religious Activities
- (b) Relief of Poverty
- (c) General Charitable Purposes
## **Public benefit**
The Trustees are of the opinion that the Charity 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 £126,500 (2022 £300). Donations paid were £100,288 (2022 £115,946) analysed as follows:
|(a) Religious Activities
(b) Relief of poverty
(c) General Charitable Purposes
|2023
£
74,047
13,547
12,694
100,288|2022
£
81,591
18,105
16,250
115,946|
|---|---|---|
The Trustees hope to continue this level of donations if not increase it.
## **Financial review**
## **Financial position**
The Charity received donations and legacies of £126,500 and had expenditure of £101,068 giving a surplus of £25,432 for the year (2022 deficit £115.646). This has resulted in funds carried forward of £187,473 (2022 £162,041).
This level of funds carried forward is thought to be more than sufficient to fund anticipated donations in 2024.
## **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 Charity will continue to make donations at a level at least that of 2023.
- 1 -
## **THE ZOOM ZOOM TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Structure, governance and management**
## **Governing document**
The Charity 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 Charity recruits its Trustees from other known to existing Trustees allowing for the various skills and experiences they have.
Existing Trustees keep up to date with new legislation relevant to charities from various sources including the Charity Commission.
## **Risk management**
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees' report 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 2023.
## **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 2023**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2023**|**2022**|
||**Notes**|**£**|**£**|
|**Income from:**||||
|Donations and legacies|**2**|126,500|300|
|**Total income**||126,500|300|
|**Expenditure on:**||||
|Charitable activities||||
|Religious Activities|**3**|74,827|81,590|
|Relief of Poverty|**3**|13,547|18,105|
|General Charitable Purposes|**3**|12,694|16,251|
|**Total charitable expenditure**||101,068|115,946|
|||||
|**Total expenditure**||101,068|115,946|
|**Net income/(expenditure) and movement in funds**||25,432|(115,646)|
|**Reconciliation of funds:**||||
|Fund balances at 1 January 2023||162,041|277,687|
|**Fund balances at 31 December 2023**||187,473|162,041|
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 2023**_
|**Notes**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**10**
**Net current assets**
**Net assets excluding pension liability**
**The funds of the Charity**
Unrestricted funds|**2023**
**£**
24,000
164,253
188,253
(780)|**£**
187,473
187,473
187,473
187,473|**2022**
**£**
36,000
126,041
162,041
-|**£**
162,041|
|---|---|---|---|---|
|||||162,041|
|||||162,041|
|||||162,041|
The financial statements were approved by the Trustees on .........................
.............................. .............................. Mr M S Mitchell DL Mrs D Roberts **Trustee Trustee**
- 5 -
## **THE ZOOM ZOOM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Charity information**
The Zoom Zoom Trust is a Charitable Trust governed by the Trust Deed dated 30 November 2005 .
## **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 amounts 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 or grantors 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 Charity 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 Charity 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 2023**_
## **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 payments 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 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Donations and gifts|126,500|300|
- 7 -
## **THE ZOOM ZOOM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **3 Charitable activities**
|**Religious**
**Activities**
**Relief of**
**Poverty**
**General**
**Charitable**
**Purposes**
**Total**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
Donations and grants paid
74,047
13,547
12,694
100,288
Share of gov costs (see note 4)
780
-
-
780
74,827
13,547
12,694
101,068
**4**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**2023**Support costs Governance
costs
**£**
**£**
**£**
£
£
Independent Examiner's
fees
-
780
780
-
-
-
780
780
-
-
Analysed between
Charitable activities
-
780
780
-
-
**5**
**Net movement in funds**
**2023**
**£**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
780|**Total**
**2022**
**£**
115,946
-|
|---|---|
||115,946|
||2022
£
-|
||-|
||-|
||**2022**
**£**
-|
## **6 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
## **7 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
- 8 -
## **THE ZOOM ZOOM TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **7 Employees**
## **(Continued)**
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Debtors**
|**9**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Other debtors
**10**
**Creditors: amounts falling due within one year**
Trade creditors|**2023**
**£**
24,000
**2023**
**£**
780|**2022**
**£**
36,000|
|||**2022**
**£**
-|
## **11 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1**
General funds
**Previous year:**
**At 1**
General funds|**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
162,041
126,500
(101,068)
187,473
**January**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2022**
**£**
**£**
**£**
**£**
277,687
300
(115,946)
162,041|
|---|---|
## **12 Related party transactions**
## **Transactions with related parties**
During the year, the Charity received donations amounting to £125,000 (2022 Nil) 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 -