COMPANY REGISTRATION NUMBER: 07842375 CHARITY REGISTRATION NUMBER: 1145364
Friends of Gondwana Rainforest Company Limited by Guarantee Unaudited Financial Statements
31 March 2022
REARDON & CO LTD
Chartered accountants Ash House Breckenwood Road Fulbourn Cambridge CB21 5DQ
Friends of Gondwana Rainforest
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Friends of Gondwana Rainforest
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.
Reference and administrative details
Registered charity name Friends of Gondwana Rainforest Charity registration number 1145364 Company registration number 07842375 Principal office and registered Ash House office Breckenwood Road Fulbourn Cambridge CB21 5DQ
The trustees
Prof G Greer Mr A S Hardwick Dr P G McHugh (Retired 31 January 2022) Mr M Shardlow Independent examiner Nicholas Diss BSc(ECON)FCA
Structure, governance and management
The company is registered with the Charity Commission.
The principle beneficiary of the charitable activity has been the Cave Creek Rainforest Rehabilitation Scheme in Australia.
Objectives and activities
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
Objectives and activities (continued)
Our objectives are to conserve the world's rainforests and particularly, but not exclusively, Gondwana Rainforest, including the preservation of the bio-diversity of the rainforest eco-systems; to restore, rehabilitate, enhance and manage remnant and re-growth rainforest and particularly, but not exclusively, Gondwana Rainforest; to re-vegetate ex-rainforest lands, including, without limitation, the establishment and on-going management of rainforest plantings of significant ecological value and particularly, but not exclusively, Gondwana Rainforest; to advance the education of the general public in the need for ecological sustainability and resource conservation of the world's rainforests.
Achievements and performance
The trustees are pleased to have been able to support the Cave Creek Rainforest Rehabilitation project. The trustees have established and maintain a website to provide information about Gondwana rainforest and to promote the preservation of the rainforests.
Financial review
The trustees are keen to increase income from various sources so as to secure adequate future funding.
Plans for future periods
The trustees anticipate that they will continue to support the Cave Creek Rainforest Rehabilitation Scheme.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 29 March 2023 and signed on behalf of the board of trustees by:
Mr M Shardlow Trustee
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Friends of Gondwana Rainforest
Year ended 31 March 2022
I report to the trustees on my examination of the financial statements of Friends of Gondwana Rainforest ('the charity') for the year ended 31 March 2022.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. 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.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Nicholas Diss BSc(ECON)FCA Independent Examiner
Reardon & Co Ltd Ash House Fulbourn Cambridge CB21 5DQ
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 60,000 | 60,000 | 73 |
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| Total income | 60,000 | 60,000 | 73 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 68,008 | 68,008 | 699 |
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| Total expenditure | 68,008 | 68,008 | 699 | |
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| Net expenditure and net movement in funds | (8,008) | (8,008) | (626) | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 15,186 | 15,186 | 15,812 | |
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| Total funds carried forward | 7,178 | 7,178 | 15,186 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 9 form part of these financial statements.
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Statement of Financial Position
31 March 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Debtors | 10 | 6,250 | 6,250 | |
| Cash at bank and in hand | 1,408 | 10,808 | ||
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| 7,658 | 17,058 | |||
| Creditors: amounts falling due within one year | 11 | 480 | 1,872 | |
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| Net current assets | 7,178 | 15,186 | ||
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| Total assets less current liabilities | 7,178 | 15,186 | ||
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| Net assets | 7,178 | 15,186 | ||
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| Funds of the charity | ||||
| Unrestricted funds | 7,178 | 15,186 | ||
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| Total charity funds | 12 | 7,178═══════ |
15,186════════ |
For the year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29 March 2023, and are signed on behalf of the board by:
Mr M Shardlow Trustee
The notes on pages 6 to 9 form part of these financial statements.
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Ash House, Breckenwood Road, Fulbourn, Cambridge, CB21 5DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Limited by guarantee
The company is under the control of the Board of Trustees. It is made up of four trustees. Friends of Gondwana Rainforest is a charity limited by guarantee and has no share capital. In the event of the company being wound up, the liability of each of the Members is limited to £1.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 60,000 | 60,000 | 73 | 73 |
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6. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Expenditure on charitable activities | 67,512 | 67,512 | – | – |
| Support costs | 496 | 496 | 699 | 699 |
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7. Expenditure on charitable activities by activity type
| Grant funding | Total funds | Total fund | ||
|---|---|---|---|---|
| of activities Support costs | 2022 | 2021 | ||
| £ | £ | £ | £ | |
| Expenditure on charitable activities | 67,512 | – | 67,512 | – |
| Governance costs | – | 496 | 496 | 699 |
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| 67,512 | 496 | 68,008 | 699 | |
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Friends of Gondwana Rainforest
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
8. Analysis of grants
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Grants to institutions | ||
| Grants to institutions | 67,512 | – |
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| Total grants | 67,512 | – |
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9. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
10. Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Other debtors | 6,250 | 6,250 | |
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| 11. | Creditors: amounts falling due within one year | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Accruals and deferred income | 480 | 1,872 | |
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12. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 202 | ||||
| 1 | April 2021 | Income | Expenditure | 2 |
|
| £ | £ | £ | £ | ||
| General funds | 15,186 | 60,000 | (68,008) | 7,178 |
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| At | |||||
| At | 31 March 202 | ||||
| 1 | April 2020 | Income | Expenditure | 1 |
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| £ | £ | £ | £ | ||
| General funds | 15,812 | 73 | (699) | 15,186 |
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