**Charity Registration No. 1138100**
## **THE COCO'S FOUNDATION**
**TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2021**
## **THE COCO'S FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
## **Charity number**
## **Principal address**
## **Independent examiner**
## **Bankers**
Mr C Connors Ms T L Cranmer Miss S E Perry Ms D Spraget Ms S Knight 1138100 2 Maidenbower Square Maidenbower Crawley West Sussex RH10 7QH TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Lloyds Bank 1 West Street Horsham West Sussex RH12 1PA
## **THE COCO'S FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the accounts|6|
## **THE COCO'S FOUNDATION**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
The trustees present their report, together with the accounts for The Coco’s Foundation for the year ended 31 December 2021.
The accounts comply with the Charities Act 2011, 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 2015).
## **Structure, governance and management**
The charity was established by a charitable trust deed on 4 June 2010 and was registered with the Charity Commission on 17 September 2010 (charity number 1138100).
The trustees who served during the year were:
Mr C Connors Ms T L Cranmer Miss S E Perry Ms D Spraget Ms S Knight
When considering the appointment of new trustees, the Board has regard for the requirement for any specialist skills needed.
## **Objectives and activities**
The charity's objects are the prevention or relief of poverty in Africa by providing grants, items and services to individuals in need and/or other organisations working to prevent or relieve poverty.
## **Achievements and performance**
The Objective and focus at the beginning of the year was to support the communities of the Kwa Zulu Natal with our four projects Food, Water, Shelter, Clothing and emotional support.
2021 has been another challenging year for the Coco’s Foundation due to the world pandemic. We have had to carry on with our objective for 2019 and focus on our Food4Life program, increasing our food parcels and feeding program to support families that have lost their parents through COVID.
Food4Life - In Uganda we have purchased a farm to grow produce to sell and also feed the children. We have recognise that by supporting the local community in farming we now have more potential to feed more children.
Build4TheFuture – We have not managed to restart our Build4TheFuture program this year and take volunteers out, but with the restrictions being removed we hope to restart the program in 2023. We have had donations come in which has meant we have built one house in the Kwa Zulu Natal area. We have also managed to complete the Science and Maths centre.
Clothes4Clothes – Once again all funds for 2021 have been re-directed to our Food4Life program due to COVID.
Skills4Life - Our Skills4Life program had the benefit of a Global Grant from Rotary international and a signal donor for us to be able to build a Maths & Science centre. This has enabled many students to upgrade their metric to be able to go to university.
Page 1
## **THE COCO'S FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **Risk management**
The Board of Trustees holds overall responsibility for risk management for the organisation and has conducted a review of the major risks to which the organisation is exposed. Consequently and where appropriate, systems or procedures have been established to manage the risks that the charity faces.
## **Public Benefit**
In accordance with our duties as stated in section 17(5) of the 2011 Charities Act, we have considered the guidance provided by the Charity Commission in regard to public benefit. This public benefit has been demonstrated by the activities undertaken since the inception of the charity outlined in the ‘Activities’ section above.
## **Financial review**
The foundation received income totalling £132,429 during the year (2020: £170,641). Direct charitable expenditure totalled £123,140 (2020: £175,054). Reserves carried forward amount to £27,934 (2020: £18,645). Of this, surplus bank balances represent £29,134.
## **Reserves policy**
It is the policy of the charity that all of the funds generated will be expended on charitable activities. There will be timing differences between income received and when it is expended. In the event of the charity's income declining it will look at other ways of generating income to build reserves.
## **Future plans**
The charity plans on continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.
## **Trustees’ responsibilities in relation to the accounts**
The Charities Act 2011 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 incoming resources and application of resources, including the income and expenditure, of the charity for that year.
In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. 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.
Approved by the board on 7 September 2022.
Signed on behalf of the board of trustees
**C Connors**
Trustee
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## **THE COCO'S FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE COCO'S FOUNDATION**
## **Independent examiner’s report to the trustees of The Coco’s Foundation**
I report to the trustees on my examination of the accounts of The Coco’s Foundation (the Trust) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
## **Mark Cummins FCCA FCIE**
## **for and on Behalf of TC Group**
The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
Dated: 9 September 2022
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## **THE COCO'S FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
|||**2021**|2020|
|---|---|---|---|
||**Notes**|**£**|£|
|**Income from:**||||
|Donations|**4**|**132.428**|170,640|
|Investment income|**5**|**1**|1|
|||`────────`|`────────`|
|**Total income**||**132,429**|170,641|
|||`────────`|`────────`|
|**Expenditure on:**||||
|_Charitable activities_||||
|Relief of poverty in Africa||**123,140**|175,054|
|||`────────`|`────────`|
|**Total expenditure**|**6**|**123,140**|175,054|
|||`────────`|`────────`|
|**Net income and net movement in funds**||**9,289**|(4,414)|
|**Reconciliation of funds**||||
|Total funds brought forward||**18,645**|23,059|
|||`────────`|`────────`|
|**Total funds carried forward**||**27,934**|18,645|
|||`════════`|`════════`|
|All funds in 2021 and in 2020 are unrestricted.||||
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## **THE COCO'S FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2021**_
|||**2021**||2020||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|£|£|
|**Current assets**||||||
|Cash at bank and in hand||**29,134**||19,845||
|**Creditors: amounts falling due**||||||
|**within one year**|**9**|**(1,200)**||(1,200)||
|||`────────`|`────────`|`────────`|`────────`|
|**Total assets less current liabilities**|||**27,934**||18,645|
||||`════════`||`════════`|
|**The funds of the charity**||||||
|Unrestricted funds|||**27,934**||18,645|
||||`────────`||`────────`|
||||**27,934**||18,645|
||||`════════`||`════════`|
The accounts were approved by the Board on 7 September 2022.
C Connors **Trustee**
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## **THE COCO'S FOUNDATION**
## **NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1 Accounting policies**
## **1.1 Basis of preparation**
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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Coco’s 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 the relevant accounting policy note(s). There are no material uncertainties about The Coco’s Foundations’ ability to continue as a going concern.
The accounts are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
## **1.2 Cash Flow Statement**
In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size.
## **1.3**
## **Income**
Donations and other forms of voluntary income are recognised as income when receivable, except insofar as they are incapable of financial measurement. All other income is recognised when receivable.
## **1.4 Expenditure**
Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the items of expense to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs (included within Support costs) comprises all costs associated with constitutional and statutory requirements with which the charity must comply.
## **1.5 Fund accounting**
Funds held by the charity are all unrestricted funds. These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
## **1.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.
## **1.7 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.
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## **THE COCO'S FOUNDATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **1.8 Estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements
## **2 Taxation**
As a charity, The Coco’s Foundation is exempt from tax on income and gains to the extent that these are applied to its charitable objects.
## **3 Trustee remuneration**
All the trustees donate their time spent running the charity on a voluntary basis and do not receive any remuneration for their work.
## **4 Donations**
|||**2021**|2020|
|---|---|---|---|
|||**£**|£|
||Donations comprise the following:|||
||Workshop|**8,687**|14.856|
||Clothes4Clothes|**10,029**|10,974|
||Build4TheFuture (Including volunteer trip contributions)|**66,483**|119,659|
||Food4Life|**27,966**|20,611|
||Other unrestricted donations|**19,263**|4,540|
|||`────────`|`────────`|
|||**132,428**|170,640|
|||`════════`|`════════`|
|**5**|**Investment income**|||
|||**2021**|2020|
|||**£**|£|
||Interest receivable|**1**|1|
|||`════════`|`════════`|
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## **THE COCO'S FOUNDATION**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_
## **6 Total expenditure**
|**7**
**8**
**9**
**10**|**2021**
2020
**£**
£
**Charitable activities**
Relief of poverty in Africa:
Activities undertaken directly
**121,940**
173,854
**Support costs**
**1,200**
1,200
`──────── ────────`
**123,140**
175,054
`════════ ════════`
Support costs (including governance costs) comprise independent examiners fees of £1,200 (2020:
£1,200).
**Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year. A
trustee was reimbursed for expenditure incurred on behalf of the charity.
**Employees**
There were no employees during the year.
**Creditors: amounts falling due within one year**
**2021**
2020
**£**
£
Accruals
**1,200**
1,200
`═══════`
`═══════`
**Control**|
|---|---|
The charity is under the control of the Trustees.
## **11 Related party transactions**
There were no related party transactions during the period, or preceding year that require disclosure in the accounts.
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