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2023-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMEENTS FOR THE YEAR ENDED 31[ST] MARCH 2023

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 10

CHAIRMAN’S STATEMENT

The year ending March 2023 continued to be challenging and the determination of the Trustees and wellwishers provided not only technical support but self-contribution as well. Trustees and advisers focused more to enhancing the capacities of the Child Opportunity Trust in order to mobilise resources locally from within Kenya or compete with other local organisations to apply for funding globally. The concept of self-sacrifice and contribution by voluntary services in terms of technical support and management continued to play significantly to the mission of Asecondchance. To move this concept further, one of the advisors spent significant time coaching, mentoring, and supporting our partner organisation. This is a cost that Asecondchance would not manage if it were to pay directly for consultancy. As a shift from last year, the fear of Covid19 reduced drastically improving interactions between community members across the country.

With voluntary time inclusion, the income recorded for the year was £154,839 compared to £122,864 representing an increase of 26% from the income raised in the previous financial year. During this period, Asecondchance largely covered operations costs using volunteers and support from Trustees and wellwishers. Projects that facilitated women and girls to address sanitation, hygiene and economic empowerment took a central stage and in in line with our mission.

With support from fewer old trusts and foundations, we continued to implement social protection and vocational training projects, water and sanitation, menstrual hygiene management and livelihoods interventions reaching marginalised families and young people , particularly teenage mothers. These projects, cumulatively, have benefited over 50,000 marginalised families.

We are grateful for the grants we received from all the trusts, foundations and individuals who supported us to fulfil our promises to marginalised communities in Kenya. We are proud of the voluntary contribution of our Trustees towards project planning and design, fundraising and personal participation in monitoring of these projects. Their support has given a positive thinking amongst the key personnel in our partner organisation. For another complete year, Asecondchance managed operations without hired personnel which is really a huge contribution and demonstration that a good course can be achieved by sacrifice and teamwork.

During this year, we had a serious challenge with our office address and this led to loss of letters and some cheques from our long-term supporters. As a result of this confusion, we experience serious delays in receiving bank statements as well as cheque books. We hope the situation well normalise soon.

Lastly, we hope we shall continue receiving support to deliver our promises to marginalised women, girls and their families. The solution for our current challenging world calls for participation of the youth, gender equity and advise from the old.

We look forward to a successful year, despite the challenging economic realities.

Charles E (Trustee)

Date

Page 3 of 10

DIRECTORS’ REPORT

The charity presents its annual report for the year ended 31[st] March 2023.

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 achieve lasting change in lives of children and their families living in poverty in developing countries, through processes that are participatory and inclusive of the marginalised 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 10

ACHIEVEMENTS & PERFORMANCE

AC’s support to various projects in Kenya, through COT continued in line with our current strategic direction. Our partner’s collaboration with the county governments continued despite the change of Government in September 2022.

Social Protection remained AC’s main focus. Achievements in its sixth 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 designing new interventions to address emerging challenges. With participation of direct beneficiaries livelihoods interventions are continual integrated by the communities. Covid 19 helped to demonstrate to many that indeed they had the potential to address their challenges.

1) cation

Essential education package for girls (stationery, school uniform, bag etc.)

Education package for 400 girls

School going children, particularly girls, have a challenge of uniforms. Over 400 packages of uniforms have been delivered alongside sanitary pads. By collaborating with school management committees, stationery, uniforms, and bags were delivered to identified children in schools in the project area. The demand for uniforms is extremely high amongst girls. Of great value to the project is that the uniforms are produced by trainees undertaking vocational training in tailoring. The only cost involved is the purchase of training materials.

Girls receiving uniform as support to education.

Alongside, distribution of uniforms to girls, 135 marginalised boys were not left behind after realisation that the supported girls had brothers who did not have uniform as well. Several schools identified the children that needed support and based on the information from schools, various school uniform materials were purchased in different colours, and uniforms prepared. The different colours also help in training g since different trainees/streams are given different colour materials to work on.

As a special response to children living with disabilities, uniforms were distributed to both boys and girls as a priority. As a recognition and encouragement for children with disabilities, such uniforms were delivered to their homes by a special counsellor to ensure the recipient is happy and personal relationship is established.

Page 5 of 10

On receiving the uniform in early October 2022, Joy touchingly noted,

“I am delighted to the offer I have received from COT. In most cases, since I rarely leave home, when new clothes are bought, I am usually not considered. I am left and told to use the old ones because I stay at home. But with this recognition, a new uniform to me is new cloth bought for me and I am so happy. I hope all the other children with disabilities will be remembered. You know in most cases; we are not considered for anything. I promise to work hard.”

After this remark, the mother, who was present during the event said,

“I have realised our mistake us parents. It has never occurred to us that Joy requires new clothes whenever we buy for others. We always assume she will use the old ones. Within my heart, I am deeply sorry.”

On reusable sanitary pads kits, women and girls that undertook menstrual hygiene training received the pads. This also encouraged attendance and participation, indicating that it is one of the most concealed needs. The increase in demand for the training has been accelerated because of the access to sanitary pads and general sanitation required in the management of epidemics such as Covid 19. COT and the Ministry of Health are using the distribution sessions to provide further training.

Health

Specialised training -production of reusable sanitary pads

Following realisation that re-usable sanitary pads could be produced locally using skills acquired through vocational training, more women turned up requesting training and as a result, eighteen women received specialized training and 8were facilitated to engage in production. Initially, trainees were selected from mother groups with basic garment making skills. One of the outcomes of access to re-usable sanitary pads is its perceived contribution to reduction in teenage pregnancies.

Before selection for specilaised training, trainees must have qualified to make different garments such as these.

The decision to ensure trainees are well versed with the sewing machines particularly manual is to build confidence and minimize on losses and accidents.

Re-usable pads require high level accuracy and experience in manipulating both manual and electric sewing machines,

Trainees making uniforms for schools.

During the specialised training, one of the participant, who had wished to train as a doctor but dropped out of school because of teenage pregnancy, shared here story,

“ When I was in class seven, it was too difficult to buy sanitary pads and I thought it was a good idea to have a boyfriend who could help. What I did not understand is when one can gets pregnant. Having helped me to buy pads for four months, he convinced me to have sex. I feared but felt safe with him. With our first encounter, I got pregnant and he refused to own up from that day. I had to drop of school. The skills I am learning here will help

Page 6 of 10

be care for my child and also ensure young girls understand the challenges they face. Lack of a sanitary pad made me drop out of school and miss my dream of becoming a doctor. I hope one day, my daughter will become a doctor.”

Production unit for reusable sanitary pads

Preparation to produce re-useable sanitary pads started earlier than envisaged. The production has been supplimented by the extra women trained and supported by their groups to purchase equipment and materials. This has helped in demonstration and distributions of the pads to women who find it difficult to access the centre because of the travel costs.

The concept of local production of the pads has been taken into interior villages by the trained Care Group Givers who have started training women and girls to improvise, and hand make quick ones for use. This approach is gaining speed demonstrating further that the intervention has addressed one issue that silently affects women and girls.

Better Economic Livelihood and income opportunities of Young Women Smallholder Farmers

The Tuinuke Pamoja positively package continues to enhance young women and teenage mothers’ social protection and economic livelihoods status. The package comprises of micro- business, financial services, and HIV care service to enhance HIV supportive services and economic livelihood of young women and their children affected by HIV. Fifteen (15) Village Groups were established with a total of 375 young mothers aged 15 -34 years, with high HIV vulnerability, living with, at high risk of contracting HIV or living in HIV, affected household with income of Sh.75 - 200 per week. Officers from two major banking institutions facilitated banking, savings and loaning information. Thirteen (13) leaders drawn from village groups were trained on basic business skills, table banking, village savings and loan and leadership. The skills received are being shared by the trainees through the village groups to reach other members.

Savings and loaning activities within the Village Groups

have been streamlined. Members understand the type of records to be kept and proper savings and loaning procedures. Village groups are embracing the need to have bank accounts and access bigger loan portfolios which they have not been able to get within their groups because of the low levels of income contributions . Already three Village Groups have opened accounts, seven have registered and three are in the process of registering with social services in anticipation of opening bank accounts. Agnes, the chairperson of Tinyirira women group had this to say after her group opened an account with Equity bank,

Saving and loaning activity in progress

“ We always thought having a bank account and saving in a bank was a reserve of people in big towns with a lot of money. We had always heard that banks charge a lot of money on accounts and that is why we have been keeping our money in a box with three padlocks assuming that it safe that way. We are very grateful to COT for the education we are receiving through the group, at least we now also have a bank account! This has motivated our members to work harder to save more money because they know their money is very safe”.

Page 7 of 10

Financial Review

The key financial statements to be read in conjunction with this financial review are statements of Financial Activities on page 11, the balance Sheet on page12 and notes on pages 13 to 17.Total incoming resources in cash were £59,002, (2021- £59,529) and expenditure £59,240 (2021 - £58,551). The deficit of -£238 was deducted to the funds brought forward with total funds being £13,028 at the year end.

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 2022
opening
balances
£		 Net movement
during year
£		 Loss in market
value of
investments
£		 31st March 2022
Closing
balances
£
Unrestricted funds 402 1200 -798
Restricted funds 12,864 962 13,826
Total 13,266 13,028

The total foreign currency remitted directly to fund projects was £45,000 representing 34 % of the total cash income received by 31[st] March 2023. The activities included by UK office including field/support visits to partners. In addition, contribution in kind estimated at £95,837 was spent on charitable activities, compared to £63,335 the previous year, as direct professional contribution by trustees, management, and well-wishers.

In summary, of the £155,077 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 10

The directors are responsible for keeping proper accounting records, which disclose, with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 1985 to 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

Members of the Management Committee

Members of the management committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

In accordance with company law, as company’s directors, we certify that:

As directors of the company, we have taken all the steps that we ought to have taken to make ourselves aware of any relevant financial information that we need to in the year.

Approved by the Trustees on ……… ………., and signed as authorised on their behalf by:

……………………………………. Charles Echessa (Trustee)

Page 9 of 10

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 23 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 accounts are prepared which agree with the accounting records and comply with the accounting

  3. requirements of the Act; or

  4. 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:

10

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 23

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
2023
2022
£
£
£
£
95,837
-
95,837
63,335
-
59,002
59,002
59,529
95,837
59,002
154,839
122,864
-
-
-
-
95,837
58,040
153,877
120,716
1,200
-
1,200
1,170
97,037
58,040
155,077
121,886
(1,200)
962
(238)
978
402
12,864
13,266
12,288
798
-
13,826
13,028
13,266

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 23

Note
Fixed Assets
Tangible Assets
2
Current Assets
Debtors & Prepayments
7
Cash at Bank and in Hand
6
Total Current Assets
8
NET CURRENT ASSETS
9
NET ASSETS
Total Funds of the Charity
General Funds
Restricted Funds
5
Long Term Liabilities: amount due in more
than one year
Creditors: amounts falling due within one
year		 Unrestricted
Restricted
31-Mar-23
31-Mar-22
Funds
Funds
Total
Total
£
£
£
£
-
1,109
1,109
1,479
-
-
-
-
402
12,717
13,119
12,956
402
13,826
14,228
14,435
1,200
-
1,200
1,170
798
-
13,826
13,028
13,266
-
-
-
-
798
-
13,826
13,028
13,266
798
-
-
798
-
402
-
13,826
13,826
12,864
798
-
13,826
13,028
13,266

For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities :

. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 ; and

. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 11 to 17 were approved by the Trustees, and authorised and signed on their behalf by:

Approved by the Directors on the ………………………………………

Signed on their behalf by Director …………………………………………………………

Print Name ..............................

12

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 23

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 23

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-22
Additions
Disposals
Cost at
31-Mar-23
Depreciation
01-Apr-22
Disposals
Charge
Depreciation at
31-Mar-23
Net Book Value
31-Mar-23
Net Book Value
31-Mar-22
Equipment		 TOTAL
Unrestricted
Restricted
2023
£
£
£
-
3,967
3,967
-
-
-
-
-
-
-
3,967
3,967
-
2,488
2,488
-
-
-
-
370
370
-
2,858
2,858
-
1,109
1,109
-
1,479
1,479

14

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 23

3. INCOMING RESOURCES
a) Incoming resources from generated funds
Value of Volunteer time
b) Income from Charitable Activities
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
Subcriptions
Telephone & Internet
Bank charges
Depreciation
Value of Volunteer Time
Vehicle repairs
c) Governance Costs
Independent Examiners Fees
8		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023
2022
£
£
£
£
95,837
-
95,837
63,335
95,837
-
95,837
63,335
-
59,002
59,002
59,529
-
59,002
59,002
59,529
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023
2022
£
£
£
£
-
-
-
-
-
-
-
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023
2022
£
£
£
£
-
45,265
45,265
42,579
192
192
238
-
169
169
356
-
3,649
3,649
5,472
-
-
262
-
6,227
6,227
5,050
-
190
190
161
-
173
173
-
-
1,783
1,783
1,689
22
22
31
-
370
370
492
95,837
-
95,837
63,335
-
-
-
1,052
95,837
58,040
153,877
120,716
1,200
-
1,200
1,170
1,200
-
1,200
1,170
15

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 23

5. RESTRICTED FUNDS

Unrestricted funds
Restricted funds		 Balance
Balance
01-Apr-22
Income
Expenditure
Transfers
31-Mar-23
402
95,837
97,037
-
798
-
12,864
59,002
58,040
-
13,826
13,266
154,839
155,077
-
13,028

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-21
£
1,547
10,741		 Balance
Income
Expenditure
Transfers
31-Mar-22
£
£
£
£
25
1,170
-
402
122,839
120,716
-
12,864
12,288 122,864
121,886
-
13,266
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Mar-23
31-Mar-22
£
£
£
£
401
12,717
13,118
12,956
401
12,717
13,118
12,956
-
-
-
-
-
-

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-23
31-Mar-22
£
£
£
£
1,200
-
1,200
1,170
1,200
-
1,200
1,170
£
£
£
£
-
-
-
-

16

ASECONDCHANCE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 23

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 2023		 2023
2022
£
£
(238)
978
-
-
(238)
978
13,266
12,288
13,028
13,266

17