GANDYS FOUNDATION (a company limlted by guarantee) TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Charity No. 1152918 Company No. 08516239 •AèzHfc48* 17ffj312ff23 COMPANIES HCiJSE A10
Gandys Foundalion Year Ended 31 May 2022 CONTENTS LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES. REPORT INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES STATEMENT OF FINANCIAL ACTIVITIES BAL4NCE SHEET ACCOUNTING POUCIES 10 NOTES TO THE FINANCIAL STATEMENTS 12
Gandys Foundatlon Yoar Ended 31 May 2022 LEGAL AND ADMINISTRATIVE INFORMATION GOVERNANCE The organisation is a charitable company limited by guarantee, incorporated in England on 3 May 2013 and registered as a charity on 17 Juty 2013. The company was estatlished under a Memorandum of Association. The serving trustees elect the tnjstees. TRUSTEES Paul Forkan Robert Forkan Preet Legha PRINCIPALIREGISTERED OFFICE Suile B2 The Old Church Quicks Road London SW19 1EX 8ANKERS Bardays Bank PLC 1 Churchill Place London E14 5HP ACCOUNTANTS A Wood and Co LLP Chartered Accountants 1&20 Moorfand Road Bursl8m Sloke on Trent ST6 1DW
Gandys Foundatlon Year Ended 31 May 2022 LEGAL AND ADMINISTrATIVE INFORMATION POWERS OF INVESTMENT Tho trustees are authorised by the Memorandum of Association to deposit or invest funds, employ a professional fund manager and arrang8 for the investments or other propety of th8 Charity to be held in the name of a nominee. LIABILITY OF MEMBERS The lbIlity of the members as set out in the Memorandum of Association of the company is as follows: "Each member of the Ch8rity und8rtakes that, rfthe Charily is wound up while he is a member. or thin one year after he cèas8$ to be a m8ml)er, he 11 continu8 a sum not excegding £1 to the assets of the Charity for... payment olth8 debts and liabilities of the Chaiity Gontraded before he ¢&as8S as member payment of the costs, Ghary8s and expgnses olnding up.. and adjustment ol the rights of the contributn8 amount themsefvgs..
Gandys Foundallon Year Ended 31 May 2022 TRUSTEES, REPORT The trustees, who ad as directors for the purposes of company law, present their rèport along with the financial statsments of the trust for the year ended 31 May 2022. OBJECTIVES AND ACTIVITIES The objects of the Charily are for the public benefft: 1. to provide reef lo those in need by reason of youth, age. il-hoalth. disability, financial hardship or other disadvantag8 by provKling or procuring the provision of seNic8s. education, training. consultancy. advice. support. counselling, guidance. grants. scholarships, awards or matenals in kind to individuals or other organisations with a charitable purpose; 2. to further suth other exdusively thariiable pUr[Se5 according to the law of England and Wales as the Trustees in their absohjte disLYetion from time lo time detemine. FINANCIAL REVIEW The statement of financial activities is on page 7. Total incoming resources for the year amounted to £58.638 (2021.. £91,526). There vms a net profiU{deficit) of incoming over outgoing resourc8s of £{20.510) (2021.. £29.261) which has b8en transferred oul of unrestricted and restricted funds as appropriate. Major funders indud8 Mr and Mrs Barton and Gandys IntematK>nal.
Gandys Foundatlon Year Ended 31 May 2022 The trust's assets are held for the generation of investment income for the finanring of operatlons. In the opinion of the Board. the funds h8kl at 31 May 2022 were available and adequate to fvlfil the trust's existing obligations. There have been no material changes in the poliaes of the charity during th8 year. DIRECTORS The directors during the year under r8W8w were". Preet Legha Paul Forkan Robert Forkan SMALL COMPANY PROVISIONS This report has been prepared In accor(lance wllh the small companies regSme under the Companies Act 2006. RESERVES The Board has reviewed th8 r8serves of the Charity. This review encompassed the nature of the income and expenditufe streams, the need to match variable income with fixed commitments and the nature of the reseples. The year end poSitn shows that unrestricted funds are £27.50912021'. £48.019) and restricted £nl2021.. £nil). TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS Company law requir8S the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable ccffipany as at the balance sheet date and of its incoming sourceS and application of resourcés, including incomè and èxpènditure. for financkql year. In preparing thosé financial ststements. the trustees should follow b8St practice arKJ'. Select suitable accounting polioes and then apply them consislentty., Obs8rve the methods and principles in the Charities SORP,. Make judgemenls and estimates that are reasonable and prudent: Slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and exled in the financial statements. Prepare Ihe financial statements on the going con¢em basis unless it 15 inappropriate to assume that th8 charitable company will ltinUe on that basis. The trustees are responsible for maintaiThng proper accounting records which disclose with reasonable accuracy al any time thè financial position of the charitabl8 company
Gandys Foundatlon Year Ended 31 May 2022 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS - ontinued and to enable them to ensure that the financial sL*ements mplY with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence frjr taking reasonable steps for the prevention and detection of fraud and olher irregularities. Chalr's Report for Accounts and Public Benefit 2021-22 The Gandys Foundation received donations in 202112022 from Mr and Mrs Barton and Gandys International. These donations along with the fundraising efforts of the Forf(8n brothers. who founded the charity. enabled us lo fijnd the running costs of our Rio and Sri Lanka campus and comptete the campus build in Mongolia. Following the lifting of travel restrictions, we were able lo visit our Mongolia campus in Novernber 2022 and see the amazing impact it is having on the local community. We also provid8d further funding to our Nepalese charity partner to support their child trafficking rehabilitation program, education on prevention of trafficklng, legal assistance and folbw up visits. Furthemor8. we donated funds to our Malawi charily partner for the purchase of land to be used for their annual feediThJ programme. Our only operaling costs are accounlants. fees as we all work on a voluntary basis. We are nol committed to running costs for any Gharity project and only agree funds to support projecls when we have the funds in hand. Looking foThYard into the coming year our aim is to complete and open our nexl Kids Campus in Guatemala. The budget and plans for this project have now been agre8d and we expect a completion date of around October 2023. We are also planning to visit more of our exisling campuses in 2023 and 2024. Paul Forkan - Trustèe Gandys Foundalion 13 March 2023
Gandys Foundatlon Year Ended 31 May 2022 INDEPENDENT EXAMINER'S, REPORT ON THE ACCOUNTS TO THE TRUSTEESIDIRECTORSIMEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF GANDYS FOUNDATION FOR THE YEAR ENDED 31 MAY 2022 SET OUT ON PAGES 7 TO 15. I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2022. Responslbilltles and b361s ol report As the charity's Irust•83 of the Compary (Wt are 8180 the directors of the company fcK the purposes of company law). you are responsible for the preparation of the 8c¢ounls in accordance wiiti the requirements of thg Companies Act 2OJ6 ('the 2006 Act"). Having satisfied mysem that the accounts of the Company are nol rgquired to bg auditgd for this year under Part 16 of the 2006 Act and are elKJIb for independent examination, I rgport in respect of my examination of y1 charity's accounts as carried out under seth.on 145 of thtr Charilies Act 2011 1.the 2011 Acf.). In carying out my examination, I have f¢Jlmved tho Directlons gfven by th8 Charity Comrnission (under sedion 145151(b) ol the 2011 Act. Ind?pendnl oxamlnefs $t•tement I have com eted my examination. I confm thal no malerial mallers have me to my attention. which give me cause to bdifve thaL accounting records Vre not kept in a[darKe ¥th section 386 of the Companie$ A¢t 2006: or the a¢Unts do rol accor(I with such records,. or the accounts do not comply 4wth relevant account requirements under section 396 of the Companies Act 2006 other than any reouirement that the accounts give a 'true and lair, view which is not a matter ¢onshJered as part of an independent examination; or the accounts have not been wepared in accordance with the Charities SORP (FRS1021. C Paryy ACA Date: 13 March 2023 A Wood and Co LLP Charter8d Accountsnts 1&20 Moortand Road Burslom Stoke on Trent Staffs ST6 1DW
Gandys Foundatlon STATEMENT OF FINANCIAL ACTIVITIES Year Ended 31 May 2022 Unrèstricted fund Restricted funds Year Year to Ended 31.05.21 31.05.22 INCOMING RESOURCES INCOMING RESOURCES FROM CHARITABLE ACTIVITIES: Donations and legarAes TOTAL INCOMING RESOURCES 58,638 91,526 58.638 $8,638 53.620 RESOURCES EXPENDED Governance Costs Charitable Activities Other Resources Expended TOTAL RESOURCES EXPENDED 1.146 78.082 660 61,466 106 78,082 79.148 62,265 NET (EXPENDEDYINCOMING RESOURCES- NET INCOME FOR THE PERIOD (20,510) (20,510) 29,261 NET MOVEMENT IN FUNDS Total funds at 31 May 2021 (20.510) 48.019 (20,510) 48,019 29,261 18,758 TOTAL FUNDS AT 31 May 2022 27.509 27,509 48,019 Th8 charity has no recognised gains or losses other than the net movement in funds for the year.
Gandys Foundatlon STATEMENT OF COMPREHENSIVE INCOME Year Endod 31 May 2022 2022 2021 (Deficitysurplus for the year Total comprehensive income for th8 year 20.510 29,261 29,261 STATEMENT OF CHANGES IN EQUITY Unr8Stricted funds Total At 1 June 2021 Surplus for the year 48,019 20,510 48,019 20,510 Total comprehensive income At 31 May 2022 20,510 27,509 20,510 27,509 Unrestricte(I funds Total At 1 June 2020 Surplusl{Deficit} for the year 18.758 29.261 18.758 Total compr8hensive incorne At 31 May 2021 29,261 29.261 48.019
Gandys Foundation BALANCE SHEET Charity No. 1152918 At 31 May 2022 Note 31.05.22 31.05.21 CURRENT ASSETS Cash at bank and in hand other debtors 28,169 49,279 28,169 49,279 CREDITORS.. Amounts falling due within one year 1,260 NET ASSETS 27,509 48,019 Unrestricted funds.. General funds 27,509 48,019 27,509 48.019 Restricted fuThJs TOTAL FUNDS 27,509 48,019 For the year ending 31 May 2022 the charitable company was enliued to exemption under section 477 of the Companies Act 2006. The members have not required the company to obtsin an audtt in accordance with section 476 of the Companies Act 2006. The tn15teesldirectors acknowled98 their responsibilit$ for complying with th8 requirements ol the Companies Act 2LH)6 with respect lo accounting records and the preparation of accounts. Th8 financial statements were approved by the trustees on 13 Marth 2023 and signed on their behalf by: Paul Forkan- Trustee
Gandys Foundatlon Year Ended 31 May 2022 ACCOUNTING POLICIES The following acc¢wnting poliaes hav8 be8n applied consistenlly in dgaling with items which are considered material in relatK)n to the charitls financial statements: BASIS OF PREPARATION The financial statements have been prepared under the historical cost accounting rules and in accordance with applioable aounting standards. The financial statements have been wepared in accordance with the Charities SORP {FRS102). The financial statements hav8 been prepared in accordanc8 With Financial Reporting Standard 102. GOING CONCERN Thè Directors of the Chartty are aware thal in the absence of funding becoming available within 8 reasonable timescale. a deusion to liquidate the company wouhj need to be implement8d to avold Insolvent trading. INCOMING RESOURCES Voluntary income is received by way of donailons and gifts and 15 included in full in the Statement of Financial Activities when received. The value of services provided by volunteers has not been induded. Grant5. including grant5 for the purchase of fixed assets, are recognised in fvll in the Statement of Financial Aclivilies in the year in which they are receivable. RESOURCES EXPENDED Resources expended are recognised on an accruaL8 basis. Resources expended indud8 attributable VAT, vthich cannot be re(x)ver8d. Resources expended ara allocated to the particular adiwty wh8r8 the cost relales directly to that activity. Costs ar• apports'oned on a us8 basis where appropriate. TAXATION AS a registered charity the trust is exempt from liabilrty to corporation tax and no provision for tsxatbon is therefore made. io
Gandys Foundallon Yoar Endod 31 May 2022 ACCOUNTING POLICIES FUND ACCOUNTING Restricted funds ar8 to be used for specifK purposes as laid d(Mn by the donor. Expenditure which meets this Cfiteria is charged to the fund. together with a fair allocation of management and support costs. Unreslricled funds are unrestricted funds which the trustees a free to use in accordance with the objeGis of the charity. Designated funds are unrestrithd funds vthich have been alocated for specific purposes by the truslees. RESOURCES EXPENDED Expenses have been apportioned belween the different types of costs by the charity Manager.
Gandys Foundatlon NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 May 2022 INCOMING RESOURCES FROM ACTIVITIES TO FURTHER THE CHARITY'S OBJECTS Year Year end eIed 31.05.22 31.05.21 Totsl Total Restlted Donatlons and legaaes Various Mr & Mrs Barton CAF Gandys InternatK)nal 24,012 10.000 5.000 19.626 24,012 11,026 10.000 80,500 5,000 19,626 58,638 58 638 91,526 2 TAXATION The charty Ss exempt from cwporation tsx on its charitable adivities. 12
Gandys Foundation NOTES TO THE FINANCIAL STATEMENTS forthe year ended 31 May 2022 TOTAL RESOURCES EXPENDED GeneraiirnJ Funds Charitable Govemance Activities Other Resources Year Year •nd•d ended 31.05.22 31.05.21 To1•1 Total African Vislon 10.093 10.093 2.220 Prciect Favela 31,025 31.025 Chofa Chori 16.091 16.091 2.254 Veloo Foundauon 25.918 25.918 25.OC#) Sundry dona¢)$ Rohan PmenChAn 5.150 5.150 Sundry Expenses 26 ACn¢Y 720 720 Bank Charg88 & Inlwest 320 1.146 62,285 DEBTORS Year Year onded ended 31.05.22 31.05.21 (Xher debtors 13
Gandys Foundatlon NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 May 2022 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Year Year ended ended 31.05.22 31.05.21 Accrued expenses 1,260 660 1,260 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted general funds Restricted funds Total Currenl assets Currenl liabililies 28.169 {660) 28.169 (660) NET ASSETS At 31 May 2022 27.509 27,509 MOVEMENT IN FUNDS At 31 May 2021 Incoming resources Outgoing resources At31 May 2022 Restrlcted funds.. G8n8ral (see nol8 3) Total restricted funds Unrestricted fvnds- General funds 48.019 58.638 (79,1481 27,509 Tolal unrestdcted funds 48,019 58,638 (79.1481 27,509 TOTAL FUNDS 48.019 58.638 (79.1481 27.509 14
Gandys Foundation NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 May 2022 RELATED PARTY TRANSACTIONS None. INDEPENDENT EXAMINATION The net fee for the Independent Examination was £250 (2021 £250) and also £300 (2021 £300) for the preparation of the accounts. 10 EMPLOYEES Ther8 were no empk)y8es during the year (2021 rwl). 15