FIRST GROWTH ## **First Growth** ## (A company limited by guarantee) **Trustees Report For the Year Ended 30 September 2021** 1 of 5 FIRST GROWTH **Contents Page** Report of the Trustees 3 2 of 5 ## FIRST GROWTH ## **First Growth Report of the Trustees for the year ended 30 September 2021** The Trustees present their directors’ report and financial statements for the year ended 30 September 2021. ## **Legal and Administrative Information** Charity Name: First Growth Charity registration number: 1144538 Company registration number: 07791986 Registered Office and Operational address: The Old Brewery House 86 New Street Henley-on-Thames Oxfordshire RG9 2BT ## **Trustees** Mrs V Laithwaite Mrs BA Laithwaite Mrs KL Laithwaite Mr TAE Laithwaite ## **Bankers** Barclays Bank PLC 1 Churchill Place London E14 5HP 3 of 5 FIRST GROWTH ## **Report of the Trustees** ## **Aims and Objectives:** First Growth aims to work with or make grants to organisations for general charitable purposes for the public benefit. The aims of First Growth are to: - 1 Support children and young people 2 Prevent or relieve poverty; and - 3 Support education and research to enhance economic and community development. First Growth operates throughout England but has a principal focus on supporting charities local to their registered offices, being based in either Berkshire, Buckinghamshire, or Oxfordshire. First Growth also works with Oxfam, to support causes based overseas. First Growth will also, from time to time, consider donations to charities personally addressed to a Trustee or Member. First Growth have built up relationships with a group of charities to whom they regularly donate, which makes up for the main part of all the outgoing donations. The Trustees have individual focus on specific charities, to aid better communication. First Growth request that organisations receiving donations provide an annual report to the Trustees on their performance. These reports should be reviewed by Trustees at the GM. When satisfied that the charities have successfully carried out their purposes (for the public benefit) then the donation is agreed. First Growth meet twice yearly to plan activities and make decisions. Throughout the year the Trustees regularly communicate to update on progress, ensuring that they continue to comply with public benefit. ## **Major Activities:** ## No.5 Counselling No5 are based in Reading, and they offer confidential listening to support children and young people and those around them, through free counselling service for those aged 11-25 living, working or studying in Reading and the RG postcode area. First Growth donated money to part support the Clinical Manager role and Emergency Services Unit, ensuring that the organisation can continue to attract volunteer counsellors to continue their work. ## Oxfam First Growth continued with their support of Oxfam’s WASHH project, with a further donation of £62,500. 4 of 5 FIRST GROWTH ## **Achievements and Performance:** We request that organisations receiving donations from First Growth provide an annual report to the trustees on the performance from that year which should be reviewed by trustees at the GM. ## **Reserves Policy** A reserve policy is maintained, to meet any incoming financial obligations, in accordance with the Financial Policy adopted by the Trustees. ## **Financial Review** Principal Funding Sources The principal funding sources for the charity are currently by way of donations these are made by the following individuals. - Anthony Laithwaite - Barbara Laithwaite - Henry Laithwaite - William Laithwaite - Thomas Laithwaite Donations are made annually, and Gift Aid is applied. The Administrator makes a report at each First Growth meeting showing details of the incoming and outgoing donations. All donations out must be agreed by the Trustees before being made. ## **Plans for Future Periods** The charity intends to continue the activities outlined in the forthcoming years subject to satisfactory funding arrangements. 5 of 5 FIRST GRO￿￿ First Growth (A company limited by guarantee) Flnanclal Statements For the Year Ended 30 Septernber 2021 lofll FIRST GROWTH Content8 Page Legal and Adrninistralive Informabon Report ofthe Trustees Statement of Finandal Acltvities Balance Sheet Notes forming part of the financial statements 10 2ofll FIRST GROWTH First Growth Report ofthe Trustees for the ￿ar •nd•d 30 S8ptsmb•r 2021 The Trustees present their directors. report and flnan¢L91 ststemenls the year ended 30 September 2021. Logal and Admlnlstrallvg Inft)miatlon Charity Name.. First Growth Charity registration numter.. 1144538 Company registration number. 07791986 Regislered Office and Operational address.. The Old Brewery Housg 86 New Street Henley-on-Thames Oxfordshlre RG9 2BT Trustees rs V Lailhw8Ste rs BA Laithwaite Mrs KL Larthwaite Mr TAE Laithwaite Bankors Barclays Bank PLC 1 Churchill Place London E14 SHP 3ofll FIRST GRowfH Roport of the Tnjstees Ims and Ob'ectives.. First Growth aims lo work with or make grants to organisations for general Charitable purposes for the public benefit. The aims of First Grow￿ are to.. I Support children and young people 2 Prevent or relieve poverty.. and 3 Support educatlon snd research to enhance economlc and community development. First Growth op8rates throughout England bui has a principal focus on supporting charities local to their registered t]ffi￿, being based in eithar Berkshire, Buckinghamshirè, Oxfordshire. Flrsl Growlh also WOTks with Oxfam, to support causes basod overseas. First Growth wlll also, from time to lime. constder donations to charities personal￿ addressed to a Trustee or Member. First Growlh have bulll up relationships wffh a group of eharities to whom they regulaty donate. which makes LJP for the main part of all the outgoing donations. The Trustees have individual focus on spècific ¢harits'es, to aid b8tter communication. First Growth request that organisats'ons receiving donations provide an annual report lo the Trustees on their performance. These reports should be reviewed by Trustees at the GM. When salisfied that the charities have successfully carried out their purposes {for the publi¢ benefit) then the donation is agreed. First Growth metrt Iwice yeady to plan activili8S and make decisions. Throughout the year the Trusteés regularly communicate to update on progres5. ensuring that they continue to cotnply with public ben￿rt. or Activltle No.5 Counsellin No5 are based in Reading, and they offer confidenti81 listening trj support children and young peopl8 and those around them, through free counselling service for those ag8d 11-25 living. working or studying in Reading and the RG poslcode aTea. First Growih donatsd money to part support the Clinical Manager role and Emergency Services Unrt, ensuring that the 0rg8nis8tr￿ can continue to attra¢X volunteer eouncelkjrs to continue their work. Oxfam First Growlh conllnued wth their support of Oxfam's WASHH project, with a further donation of £62,500. 4ofll FIRST GROWTH Achiev8monts and Perfomianco: We request that organisations receiwng donation5 from First Growth Provide an annual report to the thjstees on the performan¢e from that year which should be reviewed by trustees al the GM. serves Pollc A reserve policy is maintained, to meet any incoming financial obligations. in accordance with the Financial Policy adopled by the Twstees. Financial Review Source5 The principal fvnding sources fcK the charity are currently by way of donations these are made by the followng indlvlduals. Anthony Laithwaite Barbara Laithwaite Henry Laithwaitè William Laithwaite Thomas LaTrthwaile Donations are made annually. and Gift Aid is applied. The AdTninistralor makes a rew)rt at each First Growth meeting showing details of th8 incoming and outgolng dc￿all0nS. I donations out must be agreed by the Trustees before being made. Plans for Future Perlods The charity intends to continue the activities outlined in the forthcoming y8ars subjed to $81isfactory funding 8rrang8ments. 5ofll FIRST GROWTH Structure Govemance and Mana ement Governin Documé Thè organisation is a charitable Company limited by guarantee, incorporated on 29 Sept6mber 2011. The company was est2blished under a Idemorandum of Association which established the objects and powers of the charitable Company and is governed under its Arb'des of Assoaation. In the event of the company being wound up members are required lo contribula an 8mount not exceeding £1. Recruitment and A olntrnent of the Tnjstees The dir8ctOTS ol the company are also ¢h8rity trust68s for the purposes of charty law. Under the requirements of the Memorandum and Articles of Association the Trustees are elected lo serve a period of three years after which they must be Te-elecled at the next Annual General Meeting. The number of Trustees Shall b8 not less than three and not more than elght. At least one Trustee musl be a natLJral pers￿. Any person who is willing to act as a Trustee of the Charity is permitted to b& so appointed by the law and the Articles by Ordinary Resolution or by a declsion ol the Trustees. On any new Trustee appointment, the incorning individual will receive a copy of ihe Articles of Association 2nd given a brieflng from the existing Trustees, by way of induction. Th8 Tnjstees must hold at least Iwo m8trtings each year. All Trustees give thelr Ume Volunta￿ty and ￿e￿1ve no benefits from the charity. Any expenses reclaimed from the tharity are sel out in the noltss to the accounts. Re onsibi s of the Trustees Company law r8qvired the Trustees to prepare financial statem8nt5 for eath financial year which glve a true and fair view of the state of the affairs of the charltable company as at the balanc& sheet date and of its incoming resources and application of resources. induding income and expenditure, lor the financial year. In preparing these financAal stalernenls, the managemÈnl committee should follow besl practice and.. select suitable accounting Poliaes and then ap￿Y them consistently make judgements and estirnates that are reasonable and prudent,. an prepare financial statements on the going concem basis unless it is not approwate to assum& that the company will ￿nts.￿Ue on that basis. The TTusl88s are responsible maintaining proper accounting records which disclose with reasonable accuracy al any time the financial position of the charitable company and to enable them lo ensure that the finanual statements comply wlth the Companies Act 1985. The Trustees are also responsible for safeguarding the assets of the chariiable company and hen for taking reasonable steps for the prevention and detection of fraud and other iffegularibes. 6ofll FIRST GROWtH Twstees Trust•8s, who ar8 dire¢Aors for the purpose of company law and trustees for the purpose of Charity law. who 8erve¢J durlng tho year and up lo the dale of this report are detailed on page This report has been prepared in accordance with the Slalement or Recommended Practice.. Accounting and Reporttng by Charitie5 lissued in March 20051 and in accordance with th& spedal promsions of Part Vll of the Companie5 Act 1985 relallng to small ent¢ties. Approved by the Trustees 09 November 2021 and slgned on Ils behaw by: Thom•$ Lalthwalte. Chairman Trustee 7ofll FIRST GR0￿H FIRST GRowfH STATEMENT OF FINANCIAL ACTIVIES (INCLUDING INCOME a EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Un￿tricted Funds 2021 Total Fund Total Funds 202 Incomin Rè$ources Incomlng resources from g•nerated funds: Voluntary Incorne: Donats"ons and grant 43,299 43,299 60,455 Total Incoming resources 43.299 43.299 60.455 Un ricted Tot Fund 2021 Fund5 2020 2021 Resour¢es ex nded Cha￿table Activities 115,455 115.455 187,697 Govemance costs 5,358 5.358 2,696 Total resources expended 120,813 120,813 190.393 Met Income forthe year Reconclllation of funds Total fur￿5 brought forward Total funds ¢arri•d forward 85.523 8.01D 85.523 8,010 215,461 85,523 The statgment of financial activitie5 indudes all gains and lossès in the year. All incoming resources and resources expended derive from continuing actIv￿e$. 8ofll FIRST GR0￿H FIRST GRowfH BALANCE SHEET AS AT 30 SEPTEMBER 2021 Unrestricted Funds 2021 Totsl Funds 2021 Total Funds 2020 CuThent Assets Cash 8t bank and in hand Other det>lors 8,010 8,010 B5.523 Net Current Asmts 8,010 8,010 85.523 Current Llabilbtbe$ Creditors-. Amounts falling due within one year Net Current Llablllties Net Assets 8.010 8,010 85.523 Total funds 8.010 8,010 B5.523 For Ihe year ended 30 September 2021 the company was entit￿d to exemption under seclion 477 of the Companies Act 2006 rdallng to small companies. No members have required the company to obtain an audit of ils accounts for the year in question in 8ccofLlance wrth secticm 476 of the Companies Act 2006. The directors acknowledge thelr responsSbillty for complySn9 wlth the requSrements of the A with r8SP8Ct to accounb'ng r8cords and for the pr8paration of accounts. These accounts are prepared in accordance with the prwsk)ns applicable to companies subject to the small companies regirne. Approv8d by the Trustèes 9 November 2021 and signed on its behaw by- Thomas Labthwaite, Chalrman TNstee 9ofll FIRST GROWTH Note5 fomilng part of the flnanclal Statements for the year ended 30 S•ptember 2021 l. Accounting Policies The prinupal accounting policies are summarised below. The accounting policies have beèn applied consistently throughout the year and in the preceding year. (al Basis of aecounting The financlal statements have been prepared under the historiral Gost convention. as modified by the inclusion of fixed asset investments al market value. and in accordance with the Companiés Act 1985 and the Statement of Recommended Practi￿.. Accounting and Rew)rting by Charities issued in March 2005. Ib) Fund accounllng Unrestricted funds are available for use at the discretion of thÈ trustees in furtheran ol the general objectives of the Charity. Unrestricted lunds indude a revaluation reserve representing the restatement of investment assets at market values. Designated funds are unrestricted funds earmarked by th¢ Trustees lor particular purposes. Restricted ftjnds are subjected to restrictK)ns on theirexpenditure imposed by the donor or through the t8rms of an appeal. Icl In¢omlng resources All inGoming r8sources are induded in the ststement of financial activitses when the charity is entided to. and virtually certain to receive, the income and the amount can be quanb.fied witrh reasonable accuracy. The following policies are applied lo particular categories of incorne= Voluntary Income is recefved by way of grants. donations and gifts and is induded In full in the Slalement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a speofic perforrwtance by the charity, ar8 recognised when the charity becomes unconditionally enlilled to the grant. Donated seNi¢es and facilities are included at the value to the charity where this can be quantffied. The value of services provided by volunteers has not been included in these accounts. Investment incc*ne Is Induded when rerEivable. Incoming resources from charttsble trading athvtty are accounted for when 8amed. Incorning resources from grants. where related to perfomiance and specific deliverables, are aco)unled for as the charity earns the right to consideration by its pertomance. {dl Resources 8X￿nded. Expenditure is recoJnis8d on an accrual basis as a li8bility is incurred. Expenditur& indudes any VAT which canrn)t bè fully recov&re(l. and is rèported as part of the expenditure to whith it relates.. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. 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 suGh activities and those cosls of an indirect nalure nerEssary to support them. Ioof 11 FIRST GR0￿H Governanc* wsts include th08e costs 88soclaled with meeting the constitutional and statutory requirements of the charity and include the costs Ilnked to the strategic management of th8 chariiy. Al costs are allocated between the expenditure categories of the SOFA on a basi5 designeil to reflect the use of the resou￿. Costs relating to a particular activity are allocated directly, others are apportioned on an appr￿rIate basis. l?) Fixed a55etS Flxed assels lex¢ludirKJ Inveslmentsl are stated at eosl less a¢cumulaled depreciation. The costs of minor additions or those costing below £1.000 are not capitslised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful lrfe, which in 811 case5 Is eslimaled at 4 years. Impairment reviews are carried out as and when evidence comes lo light that that the recoverable amount of a ftjnth.onal fixed asset is below its net book value due lo damage, obsolescence or other relevant factors. Investments held as fixed assets are revalued al mid-market walue at the balance sheet dale and the gain or loss taken lo the Statement of Financial Aclivilies. 2. Trustee Remuneratlon and Relatsd Party Transactions None of the Trustee5 received any remuneration during the year. No trugtee or other person related to the charity had any personal interest in any contrdct or transaction entered into by the charity (Juring the year. 3. Taxation As a charity, First Growth is 8xernpt frorn lax on income and gains falling wthin section 505 of the Taxes Act 1988 ￿ s256 of the T8x8tion of Chargeable Gains Act 1992 to tho #xtanl that these are applied to its tharitable objects. No tsx charges have arisen in the Charity. 11 ofll ## **Independent examiner's report to the trustees of "First Growth"** I report on the accounts of the company for the year ended 30 September 2021, which are set out on pages 8 to 11. ## **Respective responsibilities of trustees and examiner** The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: · examine the accounts under section 145 of the 2011 Act; · to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 you as 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** In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Dan Hartley Relevant professional qualification or body: ICAEW Address: The Old Smithy, 43 Castle Street, Spofforth, North Yorkshire, HG3 1AR Date: 30[th] June 2022