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2022-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMEENTS FOR THE YEAR ENDED 31[ST] MARCH 2022

ASECONDCHANCE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

CHARITY REGISTRATION NO: 1131446 COMPANY REGISTRATION NO: 06794506

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

Page 1

LEGAL AND ADMINISTRATIVE DETAILS

Company Registration Number: 06794506
Charity Registration Number: 1131446
Chairman of the Board of Directors: Charles Maloba
Directors: Charles Maloba
Epha Crofts
Colin Crofts
Charles Echessa
Margaret Bwakali
Executive Director:
 Amos Army
Registered Office and Operational
Address:
 1Sa Southgate House
88 Town Square
Basildon
Essex
SS14 1BN
Website: www.asc-uk.org
Principal Bankers: NatWest
Basildon Branch
29 East Walk
Basildon Essex
SS14 IHD

Page 2 of 9

CHAIRMAN'S STATEMENT The year ending March 2022 continued a5 one of the most crying years for the life of AsÈcondchance. With support from Trustees , well-wishers in the diaspora and the funding partners that have supported as for years, planned actiyicies were implemented but on reduced level and few projects in Kenya were implementeil as a Strate￿ to r&focus. The concept of self-sacrifice and contribution by volurbtary services in terrns of technical support and mar￿ement continued to play significantly to the mission of Asecondchance. The year demonstrated that people all over thè communities we work with have a¢¢epted to live wth the Cowd 19. W(th voluntary time inclusion. the inc¢)me rncorded for the year was £121864 compared to £167.126 representing a frdll of 26% from the income raised in the in the previously financial year. During this period, Asecondchance largely coyered operations costs using volunteers and support from Trnstees and wéll- W15hers. Projects that facilirated wcKnen and girls to address sanitstion. hygiene and Covid 19 recovery initiativès played a central Stage. With support from fewer old trusts and foundaDons. we continued to implement social protectlon and vocational training projects. water and sanÉtarion and menstrual hyglenè management reaching marginAlised families and young people . parllculady teenage fflothe￿. These projects have bènèfited over 47,QOO Margin￿1$t4 families. We are grateful for the grants we received from all the tr￿sts. foundations and indrviduals who supported us to fulfil our promises to marginalised communioes in Kenya. We are proud of thè voluntary concribution of our Trusteès towards projett plannirE and design, fundrnising and mgniroring of projetts which would not have been realised without staff on board. Their support in assisting partners to develop new strategies and approach new funding partners is h￿hlY appreciated. For another Complete year, Asecondchance operations witlh)ut hired personnÈl which is realty a huge contri￿tIon and demonstration that a good course can be achieved by sacrifice to who SUPPDrted wtth core funding. Unfortunatety, because of Covid 19 and financial constrdints our earlier resolution to start operations in Essex County vns nor realised as vrns the case and consequently took the decision ¢0 refund Fowler Smith andjones Trust who had gryanted u$ for core funding in respect to Essex proje￿. WÈ hope this will be a¢tualised at appropriate timL We hope we shall continue receiving sUP￿rt to delNer our promises to marginalised women, girls and their communities. The future of our troubled worfd belongs to the youtN let us equip them with the necessary skills. knowledge and ethi¢s. That is our focus ! We look forward to a suc¢essful year. despite the harsh economic realitses. £UJcA Charles E <Tru5tee) Date 11. 11 2a2l, Page3of9

DIRECTORS’ REPORT

The charity presents its annual report for the year ended 31[st] March 2022.

STRUCTURE, GOVERNANCE & MANAMENT

GOVERNING INSTRUMENT

The charity was established under a Memorandum of Association established in January 2009 and is registered as a charity as well. The objects and powers of the charity and company are governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £10

OBJECTS AND ACTIVITIES

Asecondchance aims to achieving lasting change in lives of children and their families living in poverty in developing countries, through processes that are participatory and inclusive of the marginalized groups and communities. AC has one strategic goal and five strategic objectives.

Strategic Goal

To improve the quality of life for marginalised women and children by promoting their right to survival, health, and development.

Strategic Objectives

To focus on issues affecting women and girls, we reviewed our strategic objectives building on the lessons learned over years and our comparative advantage in terms of existing capacities amongst the trustees and volunteers.

Page 4 of 9

ACHIEVEMENTS & PERFORMANCE

AC’s support to various projects in Kenya, through Child Opportunity Trust continued in line with the current strategic direction. Our partner’s collaboration with the county governments continued and Ministries found a role to play in the community using the programmes we are supporting as entry points..

Social Protection remained AC’s focus. Achievements In its fifth year of implementation, “Breaking the cycle of vulnerability and strengthening social protection for adolescent/teenage mothers, women, young people and their families” project in Kakamega county continued building on aspects introduced to mitigate Covid19.

1) Education

Girls receiving uniform as support to education.

Education package for girls and literacy and numeracy skills took center stage. School going children particularly girls have a challenge of uniforms. The journey of girls’ careers remains short and slippery and thus keeping supporting them with education and basic needs contributes

to their struggle to overcome challenges that terminate their education. In this respect, through our support, our partner provided 1150 school packages that included uniforms, bags and sanitary pads to girls. Over the years, the number of needy girls has been on the increase thus increasing pressure on the resources. However, our partner

has reported a decreasing trend in dropouts and teenage pregnancies. Though this is still on a small scale, one of the causes of early pregnancies and school dropout appears to be receiving attention. of re-usable ones was finalised.

Provision of accommodation to needy teen mothers further supported our efforts to address the plight of women. Though it is still early to determine the overall impact, support with basic facilities is very helpful as summarised by one of the beneficiaries:

When asked about her feelings after joining the centre, one of the new trainees stated the following, “It has always been a dream of mine to learn how to tailor. I've admired and admired women who operate sewing machines and sew uniforms for children. I really wanted to learn, but because my parents couldn't afford it, I was forced to drop out after finishing my eighth-grade exams. Since I had finished school, my mother told me that I supported her in caring for my siblings. My mother couldn't explain why she thought I had finished school because I wanted to be like my friends who went to secondary school. My new task was to find firewood and prepare meals for the kids. I used to cry in the bushes while looking for firewood. I could see girls returning from school for the holidays, which made me feel ill at times. For the past three years, I've been wondering why me. My mother assigned me to repair my younger brother's uniform, and as a result, I had the opportunity to speak with the woman who was sewing. She was surprised when I

Page 5 of 9

told her I finished school when she asked where I went to school. I told her what my mother had told me, and she asked if I could read and write after a long pause. I told her I could read, and I usually read my notes and books from primary school.

She told me that I had the basic skills for tailoring and that I should sit in her chair and put my foot on the machine as a demonstration. I was ecstatic, but she warned me that doing it without training is dangerous. The only training centre she knew was a long way away, but I'll ask my mother if she has a relative who can introduce me to a girl-supporting organisation. My mother has no relatives in the area, so the story came to an end there. She did, however, offer me the chance to visit her once a week to observe and organise her materials. I entered her information in the book and added her measurements using my writing and calculations. After six months, some officers came to see her, and she told me that they were from the training centre, and that they wanted to know how her work was going five years after she had completed her training there. She talked with them for a long time and told them about how many girls in the village are just sitting around after finishing primary school, and to my surprise, she pointed at me and said I was an example. One of the officers immediately took out a book and began questioning me about my background, including information about my parents, siblings, and primary school.

The officer then told me that they have spoken to a number of girls, but that due to a lack of accommodation, they are considering their options. She promised to keep in touch with the lady they had met when the opportunity arose. After three months, they communicated with me and informed my parents. I had been shortlisted for the accommodation opportunity because of my reading and writing skills, so I was overjoyed when I was invited to begin my training last month. For the first time in my life, I can shower, sleep on a mattress, and use electricity. I'm hoping to do well and provide for my family”

2) Health

Health and hygiene continued to be central for both the marginalised girls and their communities. Our partner continued to hold meetings with various communities and stakeholders to raise awareness. Meetings focusing on hygiene and the empowerment of a girl child were organised as a result of the reduced spread and fear of Covid19. As stakeholders interacted with the girls training for various trades, activities at the centre helped to generate discussions. The participants focused on the insights that play a major role in the challenges that the girls face, particularly when they are in their teenage years, thanks to the stories shared by the girls.

One of the participants from the Ministry of Health summarised her observations after one of the meetings, as, "From the stories I' have heard from the girls supported by this programme, it's very clear in my mind that we need to think through our delivery methodologies at the ministry, We believe that the documents we create and share with schools and local chiefs are shared with the communities in the majority of cases. We must make certain that the girls receive this information. Because I am a woman, the things the girls have told me are not appropriate for a chief, a class teacher, or even a mother. Because their lives are messed up as teenagers, we need to provide a conducive and free environment for them. Many things that happen around them require explanation and guidance, and their mothers do not provide this support, other than warning them that they will become pregnant if they do not take precautions. However, the how is omitted. That is the problem we must solve."

Page 6 of 9

Special collaborative meeting with women professionals to discuss the plight of girls

3) Vocational Training

Vocational training continued despite the reduction in class sizes because of the Covid-19 restrictions that call for social distancing. Activities of providing skills to marginalised girls, young women rescued from human trafficking, and community sensitization on women's and girls' rights and empowerment continued. Training in garment construction, pastry, and sanitary pad production continued. Materials were purchased for the purpose of training. Enrolment increased from 158 to 233 beneficiaries as a result of ongoing activities. The increase in the number of girls enrolled in tailoring was due to the completion of rooms, which resulted in an increase in the number of girls enrolled. Ample space also contributed to a rise in the number of girls who finished their courses on time.

Course Identified Assessed Enrolled completed
Tailoring 109 109 90 45
Pastry 134 120 115 60
Catering 26 22 16 8
Hairdressing 14 12 12 6
Total 283 263 233 119

Page 7 of 9

Financial Review

The key financial statements to be read in conjunction with this financial review are statements of Financial Activities on page 10, the balance Sheet on page11 and notes on pages 12 to 15.

Total incoming resources in cash were £59,504, a decrease of 34% from the previous year. This significant decrease was because of reduced activity and the rapidly changing economic environment in UK. The philanthropic contribution from trustees and friends of AC was significant and has been considered under technical and administrative support to the charity and partners. This silent contribution in the motivation to AC’s growth and has continued to play a major role. Voluntary service by the Executive Director created the much-needed hours to manage operations, including adherence to statutory requirements and filing of returns thus minimising administrative costs.

1st April 2021
opening
balances.
£		 Net movement
during year
£		 Loss in market
value of
investments
£		 31st March 2022
Closing
balances
£
Unrestricted funds 1,547 25 1170 402
Restricted funds 10,741 122,839 120,716 12,864
Total 12,288 122,864 121,886 13,266

The total foreign currency remitted directly to fund projects was £40,000 representing 67 % of the total cash income received by 31[st] March 2022. The activities included by UK office including field/support visits to partners. In addition, contribution in kind estimated at £63,335 was spent on charitable activities, compared to £76,025 the previous year, as direct professional contribution by trustees, management, and well-wishers.

In summary, of the £121,886 expenditure was incurred in the year, over 99% on charitable activities thus keeping our vision of spending over 95% on charitable activities. Efficient utilisation of volunteer students played a major role to this success.

Risk Review

The directors continue to keep risk register and have identified major risks to the charity. The most severe risk to Asecondchance has continues to depend on directors for management and voluntary services for operations. To mitigate these risks, Asecondchance embarked on an ambitious plan to prepare for institutional grants by collecting data, preparing concept notes and contributing to institutional capacity building of its partners.

With such information together with reviewed policies, Asecondchance will approach institutional funders with proposals that include institutional development and personnel costs. In addition, funding trusts and foundations will be convinced to understand that their long-term strategy on contributing to Asecondchance will be realised when development of Asecondchance as a charity is considered.

Statement of Directors’ Responsibilities

Charity law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year.

In preparing, those financial statements the directors are required to:

Page 8 of 9

a) selecc 5uirable accounting policies and then apply them consistently. b) make judgments and estimates that are reasonable and prudent. c) scate whether applkable UK Accounting Standards have been followed. subiect to any material departures disclosed and explained in fInanCk￿ sratements: and d) Prepare the financial 51atements on the going concern basis unless it is inapproprrate to assume that the charity will contiwe in business. The directors are responsible for keeping proper accounting records. which dixlose. with reasonable accuracy at any time. the financial position of the Charity and enable them to ensure that the financial statements comply with the Componies Art 1985 to 2006. They are also responsiblè for safeguarding the a55ets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. Members of the Management Commlttee Members of the manage4nent committe& who are directors for the purpose of company law and trustee5 for thè purpose of charity law. who served during the year and up to the date of this report are set out on page l. In a¢¢ordance company ￿w. as company'5 directors. v•e certify thaL the financial statements give a true and fair of the s¢ate of the charity's aff&rs as ar 315¢ March 2022 and of its in¢oming resources and application of resources, irKluding its income and expenditure, for the year then ended., the tjnanaal statements have been properly prepared in accordance with United Kingdom Generalty Accepted Accounting practice applicable to sm211er entitie5: the financial statements have been prepared in accordance with the Companies Att 1985 to 21X)6 and: the information given in the Tru$iees' Annul Reporc is consistent with the fin3n¢lal statement& As directors of the company, we have raken all the steps that we ought to have taken to make ourselves ware of any relevant financial inlormatron that we need to in the year. Indeperhdent Examiner As a thariry, Asecondchart¢e was rwsrered in January 21))9. By 31 st March 2021. the charity had a total turnover of £167,126 for the year. For the current year, the turnover decreased to £122,864 resulting from y￿UatiOn and rèduttM)n in in-knnd contributitin from friends and Trustees. The chariry has therefore involved an Independent Examiner w look at the acc¢)unts. 11.11.22 Approved by the Tru5tee5 On ......... and signed as authorised on their behalf by.. Chartes Ethessa (Trustee) Page9of9

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the Trustees/directors of Asecond Chance LTD on the accounts for the year ended 31st March 22 set out on pages 11 to 17.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

  1. which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:

  2. proper accounting records are kept (in accordance with section 130 of the Act); and

  3. accounts are prepared which agree with the accounting records and comply with the accounting

  4. requirements of the Act; or

  5. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

K Gomes MAAT Independent Examiners Ltd Unit 2,The Broadbridge Business Centre Delling Lane Signed Bosham PO18 8NF Date: 14.11.22

10

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 22

Incorporating Income & Expenditure Account

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Value of Volunteer Time
3a
Charitable Activities
3b
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Costs of Generating Funds
Costs of Generating Income
4a
Cost of Charitable Activities
4b
Governance Costs
4C
TOTAL RESOURCES EXPENDED
NET INCOMING/ (OUTGOING) RESOURCES
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
-
63,335
63,335
76,025
25
59,504
59,529
91,101
25
122,839
122,864
167,126
-
-
-
-
-
120,716
120,716
176,984
1,170
-
1,170
930
1,170
120,716
121,886
177,914
(1,145)
2,123
978
(10,788)
1,547
10,741
12,288
23,076
402
12,864
13,266
12,288

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 13 to 17 form part of these financial statements.

11

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 22 Unrestrfcted Restrfcted Funds Funds 31-MaTr22 31-Map21 Totsl Total Note Flxed Assets Tangible Assets 1.479 1,479 1,971 Current Assets Debtors & Prepayments Cash at Bank and In Hand 1,572 11,385 12,958 11,247 T•)tsl Current Assets Creditors: amounts falllng due vlithin one year 1,170 1,170 930 NFf CURRENT ASSETS 402 12.864 13,266 12,288 Long Term LTabllltle&' amount due In more than one year NET ASSETS 402 288 Total FuThts of the Charity Genetsl Furtd5 Restrlcted Funds 402 402 12,864 1.547 10.741 12,B64 402 For the flnaneial year ending 31 March 2022 the charity was enlitkd to exemption from audit under sectlon 477 of the Companle5 Act 2006 relating to small companies. Dlrettor's ￿ponsibl11t[e$ The members have ngt required the charity to obtain an audit of its accounts for the year in question In accordance WIU) sectlon 476 , an . The directors acknowledge the(r responslbjlities for comptying wtth the requirements of the Act wlth respect to accounllng record5 and the preparation of accounts. These accounrs have been prepa￿ In accordan￿ with the provIs￿n$ appllcable to companles subject to the small cornpanles ￿gIMe. The financial statemenrs on pages 11 to 17 were approved by the Trustees, and authorised and slgned on thelr behalf by,, 11.11.22 Approved by the Director5 Qn the ....... Slgned on their behalf by Director Prlnt Name 12

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 22

Basis of Preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 2nd addition effective 1 January 2019 and with the Charities Act 2011.

1. ACCOUNTING POLICIES

The particular accounting policies adopted are set out below.

INCOME

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS102 SORP or FRS102.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when received.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is included in the accounts .

13

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 22

1. ACCOUNTING POLICIES (Continued)

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Governance Costs include costs of the preparation and examination of statutory accounts, the costs of the Directors' meetings and cost of any legal advice to Directors on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

CHANGES IN ACCOUNTING POLICIES AND PREVIOUS ACCOUNTS

There has been no change to the accounting policies since last year and no changes in the previous accounts.

ASSETS

Fixed Assets

These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Fixtures and equipment 25%

2. TANGIBLE FIXED ASSETS

Cost
01-Apr-21
Additions
Disposals
Cost at
31-Mar-22
Depreciation
01-Apr-21
Disposals
Charge
Depreciation at
31-Mar-22
Net Book Value
31-Mar-21
Net Book Value
31-Mar-21
Equipment		 TOTAL
Unrestricted
Restricted
2022
£
£
£
-
3,967
3,967
-
-
-
-
-
-
-
3,967
3,967
-
1,996
1,996
-
-
-
-
492
492
-
2,488
2,488
-
1,479
1,479
-
1,971
1,971

14

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 22

3. INCOMING RESOURCES
a) Incoming resources from generated funds
Value of Volunteer time
b) Income from Charitable Activities
Other Grants
4. RESOURCES EXPENDED
Notes
a) Cost of Generating Income
Fundraising
Notes
b) Charitable Activities
Grants to partners
Personnel costs
Other expenses
Travel
Office utilities
Office rent & council tax
Stationery & printing
Partner support visits
Telephone & Internet
Bank charges
Depreciation
Value of Volunteer Time
Vehicle repairs
c) Governance Costs
Independent Examiners Fees
8		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
-
63,335
63,335
76,025
-
63,335
63,335
76,025
25
59,504
59,529
91,101
25
59,504
59,529
91,101
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
-
-
-
-
-
-
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
-
42,579
42,579
85,000
238
238
-
-
356
356
-
-
5,472
5,472
5,384
262
262
519
-
5,050
5,050
5,665
-
161
161
280
-
-
-
2,000
-
1,689
1,689
1,332
31
31
122
-
492
492
657
-
63,335
63,335
76,025
-
1,052
1,052
-
-
120,716
120,716
176,984
1,170
-
1,170
930
1,170
-
1,170
930
15

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 22

5. RESTRICTED FUNDS

Unrestricted funds
Restricted funds		 Balance
Balance
01-Apr-21
Income
Expenditure
Transfers
31-Mar-22
1,547
25
1,170
-
402
10,741
122,839
120,716
-
12,864
12,288
122,864
121,886
-
13,266

The Charity's cash reserves include an amount representing the balance of the restricted fund.

Prior Year
GENERAL
Unrestricted funds
Restricted funds
6. CASH AT BANK AND IN HAND
Cash at Bank
7. DEBTORS AND PREPAYMENTS
Sundry Debtors		 Balance
01-Apr-20
£
3,004
20,073		 Balance
Income
Expenditure
Transfers
31-Mar-21
£
£
£
£
2,131
3,587
-
1,547
164,995
174,327
-
10,741
23,077 167,126
177,914
-
12,288
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
1,571
11,385
12,956
11,247
1,571
11,385
12,956
11,247
-
-
-
-
-
-

8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Independent Examiners Fees
9. CREDITORS AND ACCRUALS: AMOUNTS FALLING
DUE IN MORE THAN ONE YEAR		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-22
31-Mar-21
£
£
£
£
1,170
-
1,170
930
1,170
-
1,170
930
£
£
£
£
-
-
-
-

16

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 22

10. TRUSTEES AND OTHER RELATED PARTIES

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

11. RESERVES POLICY

The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

12. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

13. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES

The Company is Limited by Guarantee and is a Charity registered with the Charity Commission number 1131446 and is not, therefore, subject to Corporation Tax and does not have a Share capital.

Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31st March 2022		 2022
2021
£
£
978
(10,788)
-
-
978
(10,788)
12,288
23,076
13,266
12,288

17