| STATEMENT OF FINANCIAL ACTIVWES | STATEMENT OF FINANCIAL ACTIVWES | ||||
|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | TOTAL | TOTAL | ||
| NOTE | FUNDS | FUNDS | FUNDS | FUNDS | |
| 2020 | 2020 | 2020 | 2019 | ||
| E | E | E | |||
| INCOMING RESOURCES | |||||
| Voluntary Income |
33,651 | 41,902 | 75,553 | 78,400 | |
| Investment Income |
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| Other Incoming resources | |||||
| Incoming resources | from | ||||
| charitable activities |
|||||
| TOTAL INCOMING | RESOURCES | 33,651 | 41,902 | 75,553 | 78,400 |
| RESOURCES EXPENDED | |||||
| Cost ofgenerating | funds: | ||||
| Charitable Activities |
83,620 | 103,117 | |||
| Cost of Fund Raising | |||||
| Governance Costs |
800 | ||||
| Cost ofSales and Other costs | 100 | ||||
| TOTALRESOURCES | EXPENDED | 900 | 83,620 | 84,520 | 103,117 |
| NET INCOME/EXPENDITURE | |||||
| BEFORETRANSFER | 32,751 | (41,718) | (8,967) | (24,717) | |
| Gains on revaluation | ofassets | ||||
| Transfers between | Funds | ||||
| Prior Year Adjustment | 1,275 | ||||
| Total Funds Brought Forward | 34,962 | 39,271 | 74,233 | 98,949 | |
| Total Funds Carried | Forward | 68,988 | (2,447) | 66,541 | 74,233 |
| BALANCE SHEET | NOTE | 2020f | 2019 f |
|---|---|---|---|
| Fixed Assets | |||
| Tangible Assets | |||
| Investments | |||
| CURRENTASSETS | |||
| Stock: Items for resale | |||
| Debtors &Prepayments | |||
| Cash &Bank | 67,341 | 75,033 | |
| Creditors: falling due within one year | (800) | (800) | |
| NET CURRENT ASSETS | 66,541 | 74,233 | |
| NET ASSETS | 66,541 | 74,233 | |
| FUNDS OF THE CHARITY | |||
| Restricted | (2,447) | 39,271 | |
| Unrestricted | 68,988 | 34,962 | |
| 66,541 | 74,233 |
| Grants and donations |
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10to5.12FR5102 |
|
|---|---|---|
| SORP). | ||
| In the case ofperformance related grants, income must only be |
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| recognised tothe extent that the charity has provided the | ||
| specified goods or services as entitlement tothe grant only occurs |
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| when the performance related conditions are met (5.16FRS102 |
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| SORP). | ||
| Legacies | Legacies are included in the SOFA when receipt is probable, that is, |
|
| when there has been grant ofprobate, the executors have | ||
| established that there are sufficient assets in the estate and any |
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| conditions attached tothe legacy are either within the control of | ||
| the charity or have been met. | ||
| Government | The charity has received government grants in the reporting |
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| grants | period | |
| Gift Aid receivable is included in income when there is a valid |
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| Tax reclaims on | declaration from the donor. Any Gift Aid amount recovered on a |
|
| donations | and | donation is considered to be part ofthat gift and istreated as an |
| gifts | addition to the same fund asthe initial donation unless the donor |
|
| orthe terms ofthe appeal have specified otherwise. | ||
| Contractual income and performance related grants |
This is only included in the SoFAonce the charity has provided the related goods or services or met the performance related conditions. |
|
| Donated goods | Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical todo so. |
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| The cost ofany stock ofgoods donated for distribution to |
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| beneficiadies is deemed to be the fair value ofthose gifts at the |
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| time oftheir receipt and they are recognised on receipt. In the |
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| reporting period in which the stocks are distributed, they are |
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| recognised as an expense at the carrying amount ofthe stocks at | ||
| distribution. | ||
| Donated goods for resale are measured at fair value on initial | ||
| recognition, which isthe expected proceeds from sale less the |
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| expected costs ofsale, and recognised in 'Income from other |
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| trading activities' with the corresponding stock recognised in the |
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| balance sheet. On its sale the value ofstock is charged against |
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| 'Income from other trading activities' and the proceeds from sale | ||
| are also recognised as 'Income from other trading activities'. | ||
| Goods donated for on-going use by the charity are recognised as | ||
| tangible fixed assets and included in the SoFA as incoming |
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| resources when receivable. | ||
| Gifts in kind for use by the charity are included in the SoFAas |
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| income from donations when receivable. |
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| Donated | Donated services and facilities are included in the SOFA when |
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| services ilrid | received atthe value ofthe gift tothe charity provided the value | |
| facilities | ofthe gift can be measured reliably. |
| Donated services and facilities that are consumed immediately are |
|
|---|---|
| recognised as income with an equivalent amount recognised as an |
|
| expense under the appropriate heading in the SOFA. |
|
| Support costs | The charity has incurred expenditure on support costs. |
| Volunteer help |
The value ofany voluntary help received is not included in the accounts but is described in the trustees' annual report. |
| Income from | |
| interest, | This is included in the accounts when receipt is probable and the |
| royalties and | amount receivable can be measured reliably. |
| dividends | |
| Income from membership subscriptions |
Membership subscriptions received in the nature ofa gift are recognised in Donations and Legacies. |
| Membership subsciiptions which gives a member the right to buy |
|
| services or other benefits are recognised as income earned from |
|
| the provision ofgoods and services as income from charitable | |
| activities. | |
| Settlement of insurance claims |
Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10to5.12FRS102SORP) and are included as an item ofother income in the SoFA. |
| Investment | This includes any realised or unrealised gains or losses on the sale |
| gains and losses | ofinvestments and any gain or loss resulting from revaluing investments to market value atthe end ofthe year. |
| 2.2. Expenditure | and Liabilities |
| Uability | Liabilities are recognised where it is more likely than not that there isa |
| recognition | legal or constructive obligation committing the charity to pay out |
| resources and the amount ofthe obligation can be measured with |
|
| reasonable certainty. |
|
| Support costs have been allocated between governance costs and |
|
| Governance and |
other support. Governance costs comprise all costs involving public |
| support costs | accountability ofthe charity and its compliance with regulation and |
| good practice. | |
| Support costs include central functions and have been allocated to |
|
| activity cost categories on a basis consistent with the use ofresources, |
|
| eg allocating property costs by floor areas, or per capita, staff costs by | |
| the time spent and other costs by their usage. | |
| Grants with performance conditions |
Where the charity gives a grant with conditions for its payment being a specific level ofservice or output to be provided, such grants are only recognised in the SoFAonce the recipient ofthe grant has provided the |
| specified service or output. | |
| Grants payable without performance conditions |
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. |
| Redundancy | Redundancy | cost | The charity made no redundancy payments during the reporting |
The charity made no redundancy payments during the reporting |
period. |
|---|---|---|---|---|---|
| Deferred income | No material item ofdeferred income has been included in the accounts. |
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| Creditors | The charity has creditors which are measured at settlement less any trade discounts |
amounts | |||
| Proidsions liabilities |
for | A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate ofthe amount required to settle the obligation atthe reporting date |
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| Basicfinendal instruments |
The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7FRS102SORP. Subsequent measurement is as per paragraphs 11.17to 11.19,FRS102SORP. |
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| 2.3. Expenditure | and Liabilities | ||||
| Tangible fixed | These are capitalised ifthey can be used for more than one year, |
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| assets for use | and cost at least | ||||
| by charity | They are valued atcost. | ||||
| The depreciation rates and methods used are disclosed in note |
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| 9.2. | |||||
| Intangible | fixed | The charity has intangible fixed assets, that is, non-monetary |
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| assets | assets that do not have physical substance but are identifiable |
and | |||
| are controlled by the charity through custody or legal rights. The |
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| amortisation rates and methods used are disclosed in note 9.5 |
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| They are valued at cost. | |||||
| Heritage assets | The charity has heritage assets, that is, non-monetary assets with |
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| historic, artistic, scientific, technological, geophysical or |
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| environmental qualities that are held and maintained principally |
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| fortheir contribution to knowledge and culture. The depreciation |
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| rates and methods used as disclosed in note 9.6.1.4. |
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| They are valued at cost. | |||||
| Investments | Fixed asset investments in quoted shares, traded bonds and |
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| similar investments are valued at initially at cost and |
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| subsequently at fair value (their market value) at the year end. |
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| The same treatment is applied to unlisted investments unless fair |
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| value cannot be measured reliably in which case it is measured |
at | ||||
| cost less impairment. | |||||
| Investments held for resale or pending their sale and cash and |
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| cash equivalents with a maturity date ofless than 1year are |
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| treated as current asset investments. |
| UNRESTICTED | RESTRICTED | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| FUNDS | FUNDS | FUNDS | FUNDS | ||
| 2020 | 2020 | 2020 | 2019 | ||
| E | E | ||||
| Donations: | |||||
| Sponsorship | 30,845 | 30,845 | 29,902 | ||
| Porridge Scheme | 165 | 165 | 180 | ||
| Teachers | 4,619 | 4,619 | 4,293 | ||
| Higher Education | 5,325 | 5,325 | 2,575 | ||
| Miscellaneous | 33,651 | 33,651 | 40,840 | ||
| Construction | 600 | 600 | 550 | ||
| Cafe | |||||
| Expansion | |||||
| Alternative | Gifts | ||||
| 33,651 | 41,902 | 75,553 | 78,400 |
| ANALYSIS OF RES | OURCES EXPENDED | |||||
|---|---|---|---|---|---|---|
| COSTOF | COST OF | |||||
| GENERATING | CHARITABLE | GOVERNANCE | TOTAL | TOTAL | ||
| FUNDS | ACIlvlllES | COSIS | 2020 | 2019 | ||
| E | E | E | E | E | ||
| Direct Charitable | ||||||
| Sponsorship | 29,520 | 29,520 | 27,960 | |||
| Porridge Scheme | 150 | |||||
| Teacher's Salaries | 11,400 | 11,400 | 4,808 | |||
| University/College | 7,500 | 7,500 | 2,445 | |||
| Construction Work |
6,500 | 6,500 | 3,050 | |||
| Alternative Gift |
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| Committee's Salaries |
2,700 | 2,700 | ||||
| Food, Healthcare | and Living costs | 26,000 | 26,000 | 46,034 | ||
| Indirect Costs | ||||||
| Accountancy Fees |
800 | 800 | 800 | |||
| Bank Charges | 100 | 100 | ||||
| 29,520 | ||||||
| TOTAL RESOURCES EXPENDED | 84,520 | 84420 | 85,308 |