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2022-12-31-accounts

Charity Registration No. 1138100

THE COCO'S FOUNDATION

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2022

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 Mrs S Knight 1138100 4 Lintot Square Southwater Horsham West Sussex RH13 9LA 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 2022

The trustees present their report, together with the accounts for The Coco’s Foundation for the year ended 31 December 2022.

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 Mrs S Knight

When considering the appointment of new trustees, the Board has regard for the requirement for any specialist skills needed.

Objectives and activities

To be the voice for the child that cannot be heard through, providing a child's basic needs in Africa, food, water, shelter, clothing, and emotional support, given them a hand up, not a handout.

Achievements and performance

This year the charity faced significant challenges with the increase in cost of living and rising food prices occurring across the world. Unfortunately the cost of basic needs are also rising in the regions we support, meaning our costs have increased resulting in the deficit seen in the accounts. Our primary focus has been the feeding of vulnerable children within the KZN region of South Africa and Uganda, Food4Life program.

Food4Life

In Uganda, the land is incredibly fertile, and we have managed to have a successful crop of peanuts, corn and Cassava's which has managed to help us significantly with feeding vulnerable children in KZN, South Africa, the land is not as fertile and we are more dependent on donations

Build4TheFuture

2022 we started to prepare for the volunteer trips to go out to South Africa again. We managed to compete our target of 6 houses for the year by independent donors.

Clothes4Clothes

Our Clothes donations were once again redirected to our Food4Life program to maintain that amount of food parcels we donate.

Skills4Life

We had 10 students going through FET college or University and one student completing his Commercial diving training here in the UK and secured a job in the Shetlands.

Page 1

THE COCO'S FOUNDATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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 £105,928 during the year (2021: £132,429). Direct charitable expenditure totalled £114,363 (2021: £123,140). Reserves carried forward amount to £19,499 (2021: £27,934). Of this, surplus bank balances represent £20,999.

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:

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 20/07/2023.

Signed on behalf of the board of trustees

C Connors

Trustee

Page 2

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 2022.

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

  2. 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: 24 August 2023

Page 3

THE COCO'S FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
Notes £ £
Income from:
Donations 4 105,919 132,428
Investment income 5 9 1
──────── ────────
Total income 105,928 132,429
──────── ────────
Expenditure on:
Charitable activities
Relief of poverty in Africa 114,363 123,140
──────── ────────
Total expenditure 6 114,363 123,140
──────── ────────
Net income/(expenditure) and net movement in funds (8,435) 9,289
Reconciliation of funds
Total funds brought forward 27,934 18,645
──────── ────────
Total funds carried forward 19,499 27,934
════════ ════════
All funds in 2022 and in 2021 are unrestricted.

Page 4

THE COCO'S FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2022

2022 2021
Notes £ £ £ £
Current assets
Cash at bank and in hand 20,999 29,134
Creditors: amounts falling due
within one year 9 (1,500) (1,200)
──────── 19,499 ──────── 27,934
──────── ────────
Total assets less current liabilities 19,499 27,934
════════ ════════
The funds of the charity
Unrestricted funds 19,499 27,934
──────── ────────
19,499 27,934
════════ ════════

The accounts were approved by the Board on 20/07/2023.

C Connors Trustee

Page 5

THE COCO'S FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

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.

Page 6

THE COCO'S FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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

2022 2021
£ £
Donations comprise the following:
Workshop 5,363 8,687
Clothes4Clothes 9,916 10,029
Build4TheFuture (Including volunteer trip contributions) 29,245 66,483
Food4Life 27,400 27,966
Other unrestricted donations 33,995 19,263
──────── ────────
105,919 132,428
════════ ════════
Investment income
2022 2021
£ £
Interest receivable 9 1
════════ ════════

5 Investment income

Page 7

THE COCO'S FOUNDATION

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

6 Total expenditure

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Charitable activities| |Relief of poverty in Africa:| |Activities undertaken directly|112,863|121,940| |Support costs|1,500|1,200| |──────── ────────| |114,363|123,140| |════════ ════════|

----- End of picture text -----

Support costs (including governance costs) comprise independent examiners fees of £1,500 (2021: £1,200).

7 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. This year trustees made donations to the charity totalling £2,307. During the year there was 1 trustee who went on a trip to visit one of the schools the charity supports for 2 weeks with a volunteer, costs for the trip are included in expenditure.

8 Employees

There were no employees during the year.

----- Start of picture text -----
|||| |---|---|---| |9|Creditors: amounts falling due within one year| |2022|2021| |£|£| |Accruals|1,500|1,200| |═══════|═══════|

----- End of picture text -----

10 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.

Page 8