Charity registration number 1112924 (England and Wales)
THE ZOOM ZOOM TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ZOOM ZOOM TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs A L Mitchell |
|---|---|
| Canon M S Mitchell DL | |
| Mr M Donnan | |
| Mr D C Roberts | |
| Mrs D Roberts | |
| Charity number (England and Wales) | 1112924 |
| Independent examiner | Helen Furlong FCCA |
| Xeinadin North West 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 - 12 |
THE ZOOM ZOOM TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial statements for the year ended 31 December 2024.
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 governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
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.
Achievements and performance
Review of activities
The year saw donations and legacies being received of £502,500 (2023 £126,500). Donations paid were £150,947 (2023 £94,061) analysed in note 5.
The Trustees hope to continue this level of donations if not increase it.
Financial review
Financial position
The Charity received donations of £502,500 and had expenditure of £161,607 giving a surplus of £350,590 for the year (2023 £25,432). This has resulted in funds carried forward of £538,063 (2023 £187,473).
This level of funds carried forward is thought to be more than sufficient to fund anticipated donations in 2025.
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 2024.
- 1 -
THE ZOOM ZOOM TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
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
Canon M S Mitchell DL
Mr M Donnan Mr D C Roberts
Mrs D Roberts
Recruitment and appointment of trustees
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.
..............................
Canon M S Mitchell DL
Trustee
Date: .............................................
- 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 2024.
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.
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the Charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of FCCA, which is one of the listed bodies.
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 Charities Act 2011. 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 Xeinadin North West Limited
46 Hamilton Square Birkenhead Wirral Merseyside CH41 5AR Date: ............................
- 3 -
THE ZOOM ZOOM TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 502,500 | 126,500 |
| Investments | 4 | 9,697 | - |
| Total income | 512,197 | 126,500 | |
| Expenditure on: | |||
| Donations & grants paid | |||
| Religious Activities | 5 | 104,662 | 74,827 |
| Relief of Poverty | 5 | 11,252 | 13,547 |
| General Charitable Purposes | 5 | 45,693 | 12,694 |
| Total charitable expenditure | 161,607 | 101,068 | |
| Total expenditure | 161,607 | 101,068 | |
| Net income and movement in funds | 350,590 | 25,432 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2024 | 187,473 | 162,041 | |
| Fund balances at 31 December 2024 | 538,063 | 187,473 |
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 2024
| Notes Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets The funds of the Charity Unrestricted funds 14 |
2024 £ 13,237 525,786 539,023 (960) |
£ 538,063 538,063 538,063 |
2023 £ 24,000 164,253 188,253 (780) |
£ 187,473 |
|---|---|---|---|---|
| 187,473 | ||||
| 187,473 |
The financial statements were approved by the Trustees on .........................
| .............................. | .............................. |
|---|---|
| Canon 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 2024
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, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
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.
1.3 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.
1.4 Income
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.
1.5 Expenditure
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.
1.6 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 2024
1 Accounting policies
(Continued)
1.7 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 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 7 -
THE ZOOM ZOOM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
3 Income from donations and legacies
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Donations and gifts | 502,500 | 126,500 | |
| 4 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 9,697 | - |
- 8 -
THE ZOOM ZOOM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
5 Expenditure on charitable activities
| Religious Activities Relief of Poverty General Charitable Purposes 2024 2024 2024 £ £ £ Direct costs Provision of respite care - - 8,968 Other charitable expenditure - - 792 - - 9,760 Grant funding of activities (see note 6) 103,762 11,252 35,933 Share of support and governance costs (see note 7) Governance 900 - - 104,662 11,252 45,693 Analysis by fund Unrestricted funds 104,662 11,252 45,693 |
Total Religious Activities Relief of Poverty General Charitable Purposes 2024 2023 2023 2023 £ £ £ £ 8,968 - - 4,923 792 - - 1,304 9,760 - - 6,227 150,947 74,047 13,547 6,467 900 780 - - 161,607 74,827 13,547 12,694 161,607 74,827 13,547 12,694 |
Total 2023 £ 4,923 1,304 |
|---|---|---|
| 6,227 94,061 780 |
||
| 101,068 | ||
| 101,068 |
- 9 -
THE ZOOM ZOOM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
6 Grants payable
| Grants payable | ||
|---|---|---|
| Religious Activities Relief of Poverty General Charitable Purposes 2024 2024 2024 £ £ £ Grants to institutions (64 grants): Other 103,762 11,252 34,829 Grants to individuals (4 grants) - - 1,104 103,762 11,252 35,933 |
Total Religious Activities Relief of Poverty General Charitable Purposes 2024 2023 2023 2023 £ £ £ £ 149,843 74,047 13,547 6,217 1,104 - - 250 150,947 74,047 13,547 6,467 |
Total 2023 £ 93,811 250 |
| 94,061 |
- 10 -
THE ZOOM ZOOM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
6 Grants payable
(Continued)
| 7 Support costs allocated to activities Religious Activities 2024 £ Governance 900 2024 Governance costs comprise: £ Independent Examiner's fees 900 900 8 Net movement in funds 2024 £ The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements 900 |
Total 2023 £ 780 |
|---|---|
| 2023 £ 780 |
|
| 780 | |
| 2023 £ 780 |
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 11 -
THE ZOOM ZOOM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
12 Debtors
| Amounts falling due within one year: Other debtors 13 Creditors: amounts falling due within one year Trade creditors |
2024 £ 13,237 2024 £ 960 |
2023 £ 24,000 |
|---|---|---|
| 2023 £ 780 |
14 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 2024 Incoming resources Resources expended At 31 December 2024 £ £ £ £ 187,473 512,197 (161,607) 538,063 January 2023 Incoming resources Resources expended At 31 December 2023 £ £ £ £ 162,041 126,500 (101,068) 187,473 |
|---|---|
15 Related party transactions
During the year, the Charity received donations amounting to £502,500 (2023 £125,000) from Mitchell North West Limited, a company in which the Trustees, Canon M S Mitchell DL and Mrs A L Mitchell are materially interested.
- 12 -