2020-10-31-accounts

CHARITY REGISTRATION NUMBER: 1154996

Miles For Men

Unaudited Financial Statements

31 October 2020

WM FORTUNE AND SON

Chartered accountants Collingwood House Church Square Hartlepool TS24 7EN

Miles For Men

Financial Statements

Year ended 31 October 2020

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	3
Statement of financial activities	4
Statement of financial position	5
Notes to the financial statements	6

Miles For Men

Trustees' Annual Report

Year ended 31 October 2020

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 October 2020.

Reference and administrative details

Registered charity name	Miles For Men
Charity registration number	1154996
Principal office	Unit 135
	Middleton Grange Shopping Centre
	Hartlepool
	TS24 7RZ
The trustees
	Mr R Griffith
	Ms M Shield
	Miss K Pearson
	Mr M Young
Independent examiner	Thomas Atkinson
	Collingwood House
	Church Square
	Hartlepool
	TS24 7EN

Structure, governance and management

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Objectives and activities

To relieve sickness and preserve and protect health by funding research into the causes, diagnosis, prevention, treatment and cure of all forms of cancer and the publication of useful results and by funding equipment and resources to nominated bodies and individuals chosen by the charity.

Achievements and performance

In planning the activities for the year the trustees were mindful of the Charity Commission's guidance on public benefit. The charity hosts fun runs and other events to raise funds for cancer charities across the UK.

Financial review

During gthe year the charity held a number of events to raise funds for cancer charities across the UK. It also offers respite holidays in its caravan for patients receiving treatments and their families.

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Miles For Men

Trustees' Annual Report (continued)

Year ended 31 October 2020

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

Miss K Pearson Trustee

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Miles For Men

Independent Examiner's Report to the Trustees of Miles For Men

Year ended 31 October 2020

I report to the trustees on my examination of the financial statements of Miles For Men ('the charity') for the year ended 31 October 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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.

Thomas Atkinson Independent Examiner

Collingwood House Church Square Hartlepool TS24 7EN

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Miles For Men

Statement of Financial Activities

Year ended 31 October 2020

		2020		2019
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	144,091	144,091	115,175
Other trading activities	5	41,683	41,683	–
		─────────	─────────	─────────
Total income		185,774	185,774	115,175
		═════════	═════════	═════════
Expenditure
Expenditure on raising funds:
Costs of other trading activities	6	1,791	1,791	–
Expenditure on charitable activities	7,8	100,554	100,554	84,916
		─────────	─────────	─────────
Total expenditure		102,345	102,345	84,916
		═════════	═════════	═════════
		─────────	─────────	─────────
Net income and net movement in funds		83,429	83,429	30,259
		═════════	═════════	═════════
Reconciliation of funds
Total funds brought forward		75,237	75,237	44,978
		─────────	─────────	─────────
Total funds carried forward		158,666	158,666	75,237
		═════════	═════════	═════════

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 12 form part of these financial statements.

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Miles For Men

Statement of Financial Position

31 October 2020

		2020	2019
	Note	£	£
Fixed assets
Tangible fixed assets	13	60,123	7,623
Current assets
Cash at bank and in hand		99,658	68,729
Creditors: amounts falling due within one year	14	1,115	1,095
		────────	────────
Net current assets		98,543	67,634
		─────────	────────
Total assets less current liabilities		158,666	75,257
		═════════	════════
Funds of the charity
Unrestricted funds		158,666	75,237
		─────────	────────
Total charity funds	15	158,666 ═════════	75,237 ════════

These financial statements were approved by the board of trustees and authorised for issue on 22 August 2020, and are signed on behalf of the board by:

Miss K Pearson Trustee

The notes on pages 6 to 12 form part of these financial statements.

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Miles For Men

Notes to the Financial Statements

Year ended 31 October 2020

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Unit 135, Middleton Grange Shopping Centre, Hartlepool, TS24 7RZ.

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 Charities Act 2011.

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 accounts are prepared on a receipts basis. The charity only makes grants if the funds are available in the bank.

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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Miles For Men

Notes to the Financial Statements (continued)

Year ended 31 October 2020

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:

• 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.

• legacy income is recognised when receipt is probable and entitlement is established.

• 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.

• 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:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• 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.

• 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Miles For Men

Notes to the Financial Statements (continued)

Year ended 31 October 2020

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity 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.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

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Miles For Men

Notes to the Financial Statements (continued)

Year ended 31 October 2020

3. Accounting policies (continued)

Financial instruments (continued)

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Donations
Donations and fundraising	142,386	142,386	112,137	112,137
Caravan receipts	1,705	1,705	3,038	3,038
	─────────	─────────	─────────	─────────
	144,091	144,091	115,175	115,175
	═════════	═════════	═════════	═════════
Other trading activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Shop income	41,683	41,683	–	–
	════════	════════	════	════
Costs of other trading activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Costs of other trading activities - Shop
costs	1,791	1,791	–	–
	═══════	═══════	════	════
Expenditure on charitable activities	by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Grant giving	69,095	69,095	63,652	63,652
Support costs	31,459	31,459	21,264	21,264
	─────────	─────────	────────	────────
	100,554	100,554	84,916	84,916
	═════════	═════════	════════	════════

5. Other trading activities

6. Costs of other trading activities

7. Expenditure on charitable activities by fund type

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Miles For Men

Notes to the Financial Statements (continued)

Year ended 31 October 2020

8. Expenditure on charitable activities by activity type

	Activities
	undertaken	Grant funding		Total funds	Total fund
	directly	of activities	Support costs	2020	2019
	£	£	£	£	£
Grant giving	27,320	41,775	31,459	100,554	84,916
	════════	════════	════════	═════════	════════
Analysis of support costs
				Total 2020	Total 2019
				£	£
Staff costs				–	17,800
				════	════════
Analysis of grants
				2020	2019
				£	£
Grants to institutions
Grants to institutions type 1				41,775	19,379
				────────	────────
Total grants				41,775 ════════	19,379 ════════

9. Analysis of support costs

10. Analysis of grants

11. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2020	2019
	£	£
Wages and salaries	21,600 ════════	17,800 ════════

The average head count of employees during the year was 5 (2019: 5).

No employee received employee benefits of more than £60,000 during the year (2019: Nil).

12. Trustee remuneration and expenses

No trustee received any remuneration from the charity (2018 nil).

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Miles For Men

Notes to the Financial Statements (continued)

Year ended 31 October 2020

13. Tangible fixed assets

	Motor
	vehicles	Equipment	Total
	£	£	£
Cost
At 1 November 2019	1,400	6,223	7,623
Additions	12,500	40,000	52,500
	────────	────────	────────
At 31 October 2020	13,900	46,223	60,123
	════════	════════	════════
Depreciation
At 1 November 2019 and 31 October 2020	–	–	–
	════════	════════	════════
Carrying amount
At 31 October 2020	13,900	46,223	60,123
	════════	════════	════════
At 31 October 2019	1,400	6,223	7,623
	════════	════════	════════

14. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	1,115	1,095
	═══════	═══════

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	1	November 2			31 October 2
		019	Income	Expenditure	020
		£	£	£	£
General funds		75,237	185,774	(102,345)	158,666
		════════	═════════	═════════	═════════
		At			At
	1	November 2		31 October 20
		018	Income	Expenditure	19
		£	£	£	£
General funds		44,978	115,175	(84,916)	75,237
		════════	═════════	════════	════════

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Miles For Men

Notes to the Financial Statements (continued)

Year ended 31 October 2020

16. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2020
	£	£
Tangible fixed assets	60,123	60,123
Current assets	99,658	99,658
Creditors less than 1 year	(1,115)	(1,115)
	─────────	─────────
Net assets	158,666	158,666
	═════════	═════════
	Unrestricted	Total Funds
	Funds	2019
	£	£
Tangible fixed assets	7,623	7,623
Current assets	68,729	68,729
Creditors less than 1 year	(1,095)	(1,095)
	────────	────────
Net assets	75,257	75,257
	════════	════════

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