Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the Charity Name Fast 58 trustees/directors/ members of On accounts for the year 31[st] March 2023 ended Charity no.: 1137716 Company no.: Set out on pages 1 to 4 (remember to include the page numbers of additional sheets) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31/03/2023 Responsibilities and The charity’s trustees of the Company are responsible for the preparation of basis of report the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no material matters have Independent come to my attention (other than that disclosed below ) which gives me examiner's statement* cause to believe that:
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 accounts to be reached.
- Please delete the words in the brackets if they do not apply.
| Signed: Name: Relevant professional qualification(s) or body (if any): Address: |
30.5.2024 | |
| I R Newman | ||
| Fellow Member Association of Accounting Technicians | ||
| 40 Grove Park Road |
1
October 2018
IER
London SE9 4QA
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
2
October 2018
IER
FAST 58
Trustees’ Report on Activities and Financial Statements
For the year ended 31 March 2023
Trustees
Mr Michael Davey KC, Chair Prof Tony Ng, Treasurer Mrs Deborah Walsh Mr Selorm Klaye Mrs Fernanda Rocas (to 25 March 2023)
Trustees’ Report
Throughout 2022-2023 Fast 58 continued its core activities of serving the homeless and those in need in our outreaches on the Strand and at Waterloo and providing food, fun and support for local families in Southwark.
Outreach continued throughout the year every Friday, save for two breaks, one in the summer and one at Christmas. The need for assistance amongst those we serve on the street has remained high, particularly with the cost of living crisis. We serve about 180 meals each Friday between the Strand and Waterloo. We have continued to provide freshly-cooked nutritious hot meals, fruit, a bottle of water, snacks, hot drinks and soup. We also provide clothing, sleeping bags, toiletries and assistance with administrative tasks.
Food and fun events continued this year, and were very much welcomed by local families. These were held during school holidays at Easter, during the Summer and at Christmas.
On 22 February 2022 Fast 58 held its first fundraising dinner, which was at the East India Club. The event was a great success due to the organising efforts of Rebecca Walsh, Arnie Purashotham, Aparna and Aard. About 80 people attended and a sum in excess of £13,000 was raised.
The trustees met regularly throughout the year, either in person or online, together with the founder, Mr Eddie Walsh.
Fast 58 held its AGM on 25 March 2023 and reported to members on activities in the previous year.
Finances
For the year ending 31 March 2023, Fast 58’s income was £76,986.25 (2022: £48,262.71) and expenditure was £57,608.47 (2022: £41,557.51).
In addition to general donations of £42,639.80, Fast58 received the following grants and awards totalling £34,346.45:
- Southwark Council to run Community services (e.g. food and fun events for children and families) :
10 May 22 - £600 13 July 22 - £12,672 20 September 2022 - £3,168 1 December 2022 - £4,640 25 January 2023 - £1,160 17 March 2023 - £3,168
-
London Bridge: £2,400 (1 April 2022)
-
Young Stars Pro - £6,538.45 (27 February 2023)
Fast 58 was grateful for the generous donation of £3,000 from Campbell Johnston Clark, solicitors.
Fast58’s assets comprise cash at bank; stock (food and kitchen materials) and cooking equipment (of zero net realisable value).
Statement of Financial Activities for the year ended 31st March 2023
| Income from: Donations Grants and awards Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward Fixed assets Current assets Cash at bank Creditors Net current assets Net assets Charity funds Restricted funds Unrestricted funds Total funds Signed ………… Michael Davey K.C., Chairman Date 30 May 2024 |
Unrestricted Restricted Total Total funds funds funds funds 2023 2023 2023 2022 £ £ £ £ 42,639 - 42,639 16,384 - 34,346 34,346 24,598 _ _ _ _ 42,639 34,346 76,986 40,982 23,262 34,346 57,608 39,483 _ _ _ _ 23,262 34,346 57,608 39,483 19,377 - 19,377 1,500 8,714 0 8,714 7,214 19,377 0 19,377 1,500 _ _ _ _ 28,091 0 28,091 8,714 _ _ _ _ Balance Sheet at 31st March 2023 2023 2023 2022 2022 £ £ £ £ - - 28,092 8,714 - - 28,092 8,714 28,092 8,714 - - 28,092 8,714 _ ___ 28,092 8,714 Signed …… Professor Tony Ng, Treasurer |
|---|---|
| 2023 £ 28,092 - |