VANISHING WORLDS FOUNDATION
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
CONTENTS AND CHARITY INFORMATION
| CONTENTS | PAGE | |
|---|---|---|
| Report of the Trustees | 1 and 2 | |
| Independent Examiner's Report | 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Accounts | 6 and 7 | |
| TRUSTEES | Sarah Harrison | |
| Stefan Kosciuszko | ||
| Professor Alan Macfarlane | ||
| Dr Mark Turin | ||
| REGISTERED OFFICE | 25 Lode Road | |
| Lode | ||
| Cambridge | ||
| CB25 9ER | ||
| COMPANY REGISTRATION NUMBER | 7265872 | |
| CHARITY REGISTRATION NUMBER | 1137925 | |
| INDEPENDENT EXAMINER | Geoff Mann | |
| Geoff Mann Limted | ||
| Dee House | ||
| Highworth Avenue | ||
| Cambridge | ||
| CB4 2BQ | ||
| BANKERS | Lloyds TSB Bank plc | |
| 3 Sidney Street | ||
| Cambridge | ||
| CB2 3HQ |
VANISHING WORLDS FOUNDATION
PAGE 1
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
REPORT OF THE TRUSTEES
The trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report for the year ended 30 September 2020.
The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (effective 1 January 2019)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year.
In preparing those accounts, the trustees are required to:
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(i) Select suitable accounting policies and apply them consistently.
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(ii) Make judgements and estimates that are reasonable and prudent. (iii) Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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(iv) State whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practice, subjec to any material departures disclosed and explained in the accounts.
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(v) Observe the methods and principals of the Charities SORP.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the accounts comply with the Companies Act 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 and other irregularities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Vanishing Worlds Foundation is a company limited by guarantee with charitable status which is governed by a memorandum and articles of association. The company was incorporated on 26 May 2010 and the charity registered on 9 September 2010.
Appointment of trustees
New trustees are appointed by a majority of trustees in office at that time.
PAGE 2
VANISHING WORLDS FOUNDATION
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
REPORT OF THE TRUSTEES
Trustee induction and training
The trustees have reviewed the procedures in place for trustee induction and training and have developed local procedures and guidance in line with national good practice guidelines.
Organisational structure
The charity has a board of trustees who meet when necessary and are responsible for its strategic direction and policy. A director is appointed by the trustees to manage the day to day operations of the charity. In planning their activities for the year, the trustees have kept in mind the Charity Commission's guidance on public benefit at their trustee meetings.
Risk management
The trustees have conducted their own review of the major risks to which the charity is exposed, and are satisfied that systems have been established to mitigate these risks.
OBJECTIVES AND ACTIVITIES
The charity's objects are:
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1 To advance the education of the public in general on the subject of the cultural traditions and heritage of indigenous communities worldwide, and to promote research for the public benefit in all aspects of that subject and to publish the useful results; and
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2 To relieve hardship in indigenous communitites worldwide, either generally or individually, including through the provision of grants, goods or services.
ACHIEVEMENTS AND PERFORMANCE, FINANCIAL REVIEW AND FUTURE DEVELOPMENTS
Details of these can be found on the charity's website www.vanishingworlds.org
RESERVES POLICY
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should be between 3 and 6 months of the ongoing resources expended which equates to between £45 and £90 in general funds. At this level, the trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. In the event of such an occurrence, it would obviously be necessary to consider how the funding would be replaced or activities changed. At present, the free reserves amount to £45,064 and the trustees are satisfied with this.
The above report has been prepared in accordance with the small companies regime of the Companies Act 2006. It was approved by the trustees on 2 June 2021 and signed on their behalf.
Professor Alan Macfarlane Trustee
VANISHING WORLDS FOUNDATION
PAGE 3
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE VANISHING WORLDS FOUNDATION
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2020 set out on pages 4 to 7.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of 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.
INDEPENDENT EXAMINER'S REPORT
I have completed my examination. I confirm that no material matters have come to my attention which give me cause to believe that:
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accounting records were not kept in accordance with section 386 of the 2006 Act; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Geoff Mann Geoff Mann Limited Dee House Highworth Avenue Cambridge CB4 2BQ 2 June 2021
PAGE 4
VANISHING WORLDS FOUNDATION
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
STATEMENT OF FINANCIAL ACTIVITIES
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| Funds | Funds | ||
| Notes | £ | £ | |
| INCOME | |||
| Incoming resources from | |||
| charitable activities: | |||
| Grants and donations | 2 | 35,317 | 29,405 |
| ----------- | ----------- | ||
| TOTAL INCOME | 35,317 | 29,405 | |
| ----------- | ----------- | ||
| EXPENDITURE | |||
| Charitable activities | 184 | 25,180 | |
| ----------- | ----------- | ||
| TOTAL EXPENDITURE | 3 | 184 | 25,180 |
| ----------- | ----------- | ||
| NET INCOME/(EXPENDITURE) AND | |||
| NET MOVEMENT IN FUNDS FOR THE YEAR | 35,133 | 4,225 | |
| RECONCILIATION OF FUNDS | |||
| TOTAL FUNDS BROUGHT FORWARD | 9,931 | 5,706 | |
| ----------- | ----------- | ||
| TOTAL FUNDS CARRIED FORWARD | 45,064 | 9,931 | |
| ----------- | ----------- |
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
There were no recognised gains or losses for 2020 or 2019 other than those included in the Statement of Financial Activities.
VANISHING WORLDS FOUNDATION
PAGE 5
| ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 | ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 | ||
|---|---|---|---|
| BALANCE SHEET | |||
| 2020 | 2019 | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 45,776 | 10,459 | |
| ----------- | ----------- | ||
| TOTAL CURRENT ASSETS | 45,776 | 10,459 | |
| LIABILITIES | |||
| CREDITORS: amounts falling due | |||
| within one year | 5 | 712 | 528 |
| ----------- | ----------- | ||
| NET CURRENT ASSETS | 45,064 | 9,931 | |
| ----------- | ----------- | ||
| THE FUNDS OF THE CHARITY | |||
| Unrestricted funds | 45,064 | 9,931 | |
| ----------- | ----------- | ||
| TOTAL CHARITY FUNDS | 45,064 | 9,931 | |
| ----------- | ----------- |
For the year ended 30 September 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 and no notice has been deposited under section 476. The trustees acknowledge their responsibilites for ensuring that the charity keeps accounting records which comply with section 386 of the Act and preparing accounts which give a true and fair view of the state of affairs of the charity as at the year end and of its surplus for the year in accordance with the requirements of sections 393 and 394 and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the charity.
The accounts have been prepared in accordance with the provisions of the Companies Act 2006 applicable to charities subject to the small companies regime and were approved by the trustees on 2 June 2021 and signed on their behalf
Professor Alan Macfarlane Trustee
VANISHING WORLDS FOUNDATION
PAGE 6
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
NOTES TO THE ACCOUNTS
1 ACCOUNTING POLICIES
(a) BASIS OF PREPARATION OF ACCOUNTS
The accounts have been prepared in accordance with 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) (Effective 1 January 2019) - (Charities SORP (FRS 102)), the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Vanishing Worlds Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in relevent accounting policy note(s).
(b) INCOME
Incoming resources are recognised in the period in which the charity is entitled to the receipt, and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
(c) EXPENDITURE
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
(d) CREDITORS AND PROVISIONS
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(e) GOING CONCERN
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
VANISHING WORLDS FOUNDATION
PAGE 7
ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
NOTES TO THE ACCOUNTS
(f) LIABILITY OF THE MEMBERS
The charity is limited by guarantee. In the event of the charity being wound up, the liability of the members is limited to £10.
| 2 | GRANTS AND DONATIONS | GRANTS AND DONATIONS | 2020 | 2019 |
|---|---|---|---|---|
| Unrestricted | Unrestricted | |||
| Funds | Funds | |||
| £ | £ | |||
| Foundations | 35,317 | 29,405 | ||
| ----------- | ----------- | |||
| 35,317 | 29,405 | |||
| ----------- | ----------- | |||
| 3 | TOTAL EXPENDITURE | 2020 | 2019 | |
| Unrestricted | Unrestricted | |||
| Funds | Funds | |||
| £ | £ | |||
| Governance | Independent examination fees | 184 | 180 | |
| Donation | 0 | 25,000 | ||
| ----------- | ----------- | |||
| 184 | 25,180 | |||
| ----------- | ----------- | |||
| 4 | CREDITORS: Due | within one year | 2020 | 2019 |
| £ | £ | |||
| Accruals | 712 | 528 | ||
| ----------- | ----------- |
5 TRUSTEES
No remuneration was paid to any of the trustees in the year, nor were any expenses reimbursed to them.
6 RELATED PARTY TRANSACTIONS
There were no related party transactions in the year that required disclosure.