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2021-03-31-accounts

TEBBS SECOND CHANCES

Report and Financial Statements For the period ended 31 March 2021

Registered charity number 1156730

Suite 103

Access Business Centre 3 Stanton Way London SE26 5FU Tel: +44 (0)208 670 0917 T: 020 8670 0917 E: accountant@marcus-bishop-associates.co.uk W: www.marcus-bishop.com

ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS

Charity Administrative Information 3
Board of Trustees Report 4
Independent Examiner’s Report 6
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10

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CHARITY ADMINISTRATION INFORMATION FOR THE YEAR ENDED 31 MARCH 2021

Name of Charity Tebbs Second Chances
Charity Registration Number 1156730
1stFloor
Registered Address 415 High Street
Stratford
LONDON
E15 4QZ
Trustees Basil Lumsden
Sophia Jackson
Yvonne Garcia
Bankers National Westminster Bank
70 Denmark Hill
London
SE5 8TT
Independent Examiner David Frederick FCCA

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees, who are the directors of the company for the purposes of company law, are pleased to present their report and financial statements together with the independent examiner’s report for the year ended 31 March 2021.

OBJECTS & ACTIVITIES

Objects

The objects of the charity as stated in its Articles of Association are:

Achievements & Performance

Due to the Covid-19 Pandemic the refurbishment of SAIO Primary School was put on hold. However, when work resumes in June 2021 ( current proposed date ) we will focus on the fencing of the school, in order to keep the students safe. The government road renovation programme has now finished therefore work should start with no more issues

Partnership

We are now registered with Amazon Smile. Amazon Smile is the charitable arm of Amazon, Amazon donate 0.5% of the net purchase of anyone who register Tebbs Second Chances as their chosen Charity.

We also registered with PayPal Charity. It allows donors to give an extra donation to Tebbs Second Chances if they so wish when they use PayPal.

We are looking to partner with similar/ likeminded UK Charities who want to do work in Africa. With the right partnership we aim to do more great work within disadvantaged communities that need the most help.

Child Sponsorship

Our educational sponsorship programme is still on-going and has proved very successful, with more sponsors signing on to our sponsor a child scheme. We are making a big difference in the lives of the children we are helping.

Future Funding

We are still working on ways to secure funding from companies who would like to fulfil their Corporate Social Responsibility via Tebbs Second Chances.

FINANCIAL REVIEW

General Fund income was £2,445 (2020: £754). Expenditure was £2,606 (2020: £3,867) resulting in a deficit of £116 (2020: deficit of £3,113).

Risk Management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

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TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees are satisfied that all major risks have been identified and reviewed, and that systems are being established to mitigate those risks.

The Trustees are continuing:

Reserves policy

The trustees are required to ensure that free monies are available in each financial year to meet any reasonable unforeseeable contingency and also to cater for an unexpected fall in income.

In reviewing the potential costs that could arise should a significant reduction in income be suffered, the trustees have yet to determine a ‘free’ reserves policy

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing document

Tebbs Second Chances is a Charitable Incorporated Organisation (CIO) having been incorporated on 17[th] April 2014 and is governed by its Articles of Association.

Appointment of trustees

Appointed by a resolution passed at a meeting of the charity trustees.

Organisational structure

Tebbs Second Chances is governed by its Board of Trustees, also known as the Executive Committee, which is responsible for setting the strategic direction and policies of the charity. The Executive Committee carry the ultimate responsibility for the conduct of the charity and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet at least four times a year.

Major risks

The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. The charity is new and the Trustees are currently in the process of identifying the major risks that the charity may face. The process will be completed in due course.

APPROVAL

This report, which has been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies, was approved by the trustees on 31 March 2018 and signed on their behalf by:

On behalf of the Board

Sophia Jackson ______ Trustee Date: 20[th] December 2021

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INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2021

Independent examiner's report to the trustees of Tebbs Second Chances

I report on the accounts of the charity for the year ended 31 March 2021, which are set out on pages 8 to 14.

Respective responsibilities of trustees and examiner

The charity’s 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”) or under Regulation (10)(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 (as amended) (“the 2006 Regulations”) 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:

Basis of independent examiner's statement

My examination is carried out in accordance with the general Directions given by the Charity Commission and Regulation 11 of the 2006 Regulations. 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 seeks 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 came to my attention:-

  1. which gives me reasonable cause to believe that in any material respect, the requirements

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Companies Act 2006, section 44(1)(b) of the 2005 Act and Regulation 8 of the 2006 Regulations; and

  4. which are consistent with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities, have not been met, or

  5. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2021

David Frederick FCCA

Marcus Bishop Associates Suite 103 Access Business Centre 3 Stanton Way London SE26 5FU

Dated: 21[st] January 2022

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STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Charitable activities
4


Expenditure on:
Charitable activities
5

Net income/(expenditure)
Transfer between funds
Gains and losses on
investments
Net movement in funds

Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted Restricted
Total
Funds
Funds
2021
£
£
£
2,445
0
2,445		 Total
2020
£
754
2,445
0
2,445		 754
2,606
0
2,606		 3,867
2,606
0
2,606		 3,867
(161)
0
(161)
0
0
0
0
0
0		 (3,113)
0
0
(161)
0
(161)
16,257
71,426
87,683		 (3,113)
90,796
16,096
71,426
87,522		 87,683

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BALANCE SHEET AS AT 31 MARCH 2021

Non-Current Assets
Tangible Assets
Current assets:
Debtors
Bank
Liabilities:
Creditors (due < 1 year)
Net current assets
Net Assets
Funds of the charity:
Restricted
Unrestricted		 Note Unrestricted Restricted
Total
Total
Funds
Funds
2021
2020
2
6
7
8
9
9		 £
£
£
£
60
0
60
89
60
0
60
89
451
0
451
306
94,328
0
94,328
95,679
94,779
0
94,779
95,985
7,317
0
7,317
8,391
87,462
0
87,462
87,594
87,522
0
87,522
87,683
0
71,426
71,426
71,426
16,096
0
16,096
16,257
16,096
71,426
87,522
87,683

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with:

The effects of events relating to the period ended 31 March 2017 which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs as at 31 March 2017 and the results to the year ended on that date.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade as the Board of Trustees have indicated that they intend to provide such funds as arc necessary for the company to trade in the foreseeable future. The company continued its activities of provision of educational services to the youths after school and during holidays throughout the year and no other activity was acquired or discontinued during the financial year.

The charity meets the definition of a public benefit entity as defined by FRS 102 1.5. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Company status

Tebbs Second Chances is a registered Charity organisation and registered with the Charity Commission on 21 January 2010. It is registered as a company and is on Companies House register of companies.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The Charity had no restricted funded during the accounting period.

The incoming resources this year have been recognised when received, as these were all donations from partners. Income tax receivable in relation to gift aid donations Is recognised at the time the relevant income is received.

Deferred taxation

There are no timing differences which give rise to either a potential future liability or future asset in respect of taxation liabilities.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Resources expended

All expenditure is accounted for on an accrual basis and has been included under expense categories that aggregate all costs for allocation to activities. Support costs, which cannot be directly attributed to particular activities, have been apportioned proportionately to the other direct costs allocated to the activities. Governance costs include the costs of servicing Trustees' meetings, accountancy services and strategic planning.

Irrecoverable VAT is charged against the category of resources expended for which it is incurred.

Goodwill Currently there is no valued goodwill.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Hire purchase agreements

The net book value of tangible fixed assets includes none relating to assets held under hire purchase agreements. The depreciation charged to accounts in the year in respect of such assets amounted to nil.

Share capital

The company has no share capital.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

2. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value , over their expected useful economic life as follows:

Computer - 33% on reducing balance

Cost
Opening balance
Additions
Disposal
Cost 31 March 2021
Depreciation
Opening balance
Disposal
Annual charge
Cost 31 March 2021		 Computer
Total
£
£
1,294
1,294
0
0
0
0
1,294
1,294
£
£
1,205
1,205
0
0
29
29
1,234
1,234
Net Book Value
Net Book Value 31 March
2021
Net Book Value 31 March
2020
60
60
89
89

3. Transactions with trustees and related parties

There were no transactions with related parties (2021: £nil).

4. Income from charitable activities

Services
Other Income
Total		 Unrestricted Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
2445
0
2,445
754
0
0
0
0
2,445
0
2,445
754

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

5. Expenditure on charitable activities

Support Costs
Staff Costs (Note 7)
Advertising/Promotional
Charitable Contributions
Child sponsorship
Entertaining
Administration
Maranatha Primary School Building
Project
Telecommunication
Events & Meetings
Transportation
Travel and Accommodation
Depreciation
Governance (Note 8)		 Unrestricted Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
0
0
0
0
57
0
57
0
1,350
0
1,350
1,072
0
0
0
0
0
0
0
0
1,199
0
1,199
1,496
0
0
0
0
0
0
0
42
0
0
0
0
0
0
0
192
0
0
0
1,021
0
0
0
44
0
0
0
0
2,606
0
2,606
3,867

6. Debtors

Debtors
Total		 Unrestricted Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
451
0
451
306
451
0
451
306

7. Cash at bank and in hand

Echo Bank (Sierra Leone)
NatWest Business GBP Current
NatWest Business GBP Savings
NatWest Current USD
Bank Interest Payable Eco Bank SL - USD
Bank current account
Total		 Unrestricted Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
654
0
654
654
454
0
454
15
1,343
0
1,343
1,296
1,674
0
1,674
2,046
0.00
0
0
1,756
90,203
0
90,203
89,912
94,328
0
94,328
95,679

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

8. Creditors falling due within one year

NatWest Reserve USD
Total		 Unrestricted Restricted
Total
Total
Funds
Funds
2021
2020
£
£
£
£
7,317
0
7,317
8,391
7,317
0
7,317
8,391

9. Movement in funds

Unrestricted funds
General fund

Restricted funds
Restrictive fund

Total funds		 As at
1 April
2020
Incoming
Resources
Outgoing
Resources
Transfers		 As at
31 March
2021
£
16,096
71,426
71,426
87,522
£
£
£
£
16,257
2,445
2,606
0
71,426
0
0
0
71,426
0
0
0
87,683
2,445
2,606
0

11. Transfers between funds

There was not any transfer between funds during the period.

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