REGISTERED CHARITY NUMBER: 1156956
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
EFFINITY CHARITABLE FOUNDATION
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
EFFINITY CHARITABLE FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2021
| Page | |||
|---|---|---|---|
| Report of the trustees | 1 | to | 2 |
| Independent examiner's report | 3 | ||
| Statement of financial activities | 4 | ||
| Balance sheet | 5 | ||
| Notes to the financial statements | 6 | to | 8 |
EFFINITY CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES for the year ended 31 March 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
The Effinity Charitable Foundation is a charitable incorporated organisation and is constituted as one.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal object of the Effinity Charitable Foundation is the promotion of youth welfare by supporting organisations that provide sport and other recreational activities.
PUBLIC BENEFIT
The Trustees consider that the objectives and aims of the Effinity Charitable Foundation described above, enable it to meet it's obligations to the Charity Commission as per Section 17 of the Charities Act 2011 and to the benefit of the public.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Effinity Charitable Foundation has continued its support of youths by giving grants to institutions during the year that support youth welfare via sport and recreational means along with a number of smaller grants to various institutions.
Fundraising activities
The Effinity Charitable Foundation has held charity auctions and raised £485 (2020 - £420) and along with generous donations, the total raised in the period under review was £56,776 (2020 - £45,923).
FINANCIAL REVIEW
Reserves policy
The Trustees have considered the level of reserves that the Effinity Charitable Foundation should maintain. Reserves are required to enable the generation of income in order to fund charitable expenditure. The Effinity Charitable Foundation is currently reliant on donations and fundraising to fund it's expenditure.
During the period under review the Effinity Charitable Foundation raised £56,776 from donations and fundraising. Charitable expenditure amounted to £32,203 (2020: £29,809) and support costs of £797 (2020: £794). This has produced a surplus of £23,776 (2020 - £15,320) and has increased the unrestricted funds from £40,183 to £63,959 which is carried forward to continue the Effinity Charitable Foundation's activities.
FUTURE PLANS
The Effinity Charitable Foundation hopes to establish a firm foundation of income to enable it to carry out its charitable works.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Effinity Charitable Foundation was established to support young people develop and become responsible individuals. The Effinity Charitable Foundation was registered as a charity on 7 May 2014 ( registered charity number 1156956).
Recruitment and appointment of new trustees
The Trustees carry out all the administration duties of operating the Effinity Charitable Foundation without employing any staff.
New Trustees are selected by recommendation and are fully briefed on their responsibilities.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1156956
Page 1
EFFINITY CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES for the year ended 31 March 2021
Principal address Central Court 1B Knoll Rise Orpington Kent BR6 0JA
Trustees
C L Farrell J D Timms R C Faithorn
Independent Examiner
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:
R C Faithorn - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EFFINITY CHARITABLE FOUNDATION
Independent examiner's report to the trustees of Effinity Charitable Foundation
I report to the charity trustees on my examination of the accounts of Effinity Charitable Foundation (the Trust) for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts 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.
Paul S Allan BSocSc F.C.A. Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
26 October 2021
Page 3
EFFINITY CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 56,291 | 45,503 | |
| Fundraising | 2 | 485 | 420 |
| Total | 56,776 | 45,923 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Supporting organisations that provide sport, other | |||
| recreational activities development of skills and | |||
| capabilities. | 32,203 | 29,809 | |
| Other | 797 | 794 | |
| Total | 33,000 | 30,603 | |
| NET INCOME | 23,776 | 15,320 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 40,183 | 24,863 | |
| TOTAL FUNDS CARRIED FORWARD | 63,959 | 40,183 |
The notes form part of these financial statements
Page 4
EFFINITY CHARITABLE FOUNDATION
BALANCE SHEET 31 March 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 - Cash at bank 64,895 64,895 CREDITORS Amounts falling due within one year 6 (936) NET CURRENT ASSETS 63,959 TOTAL ASSETS LESS CURRENT LIABILITIES 63,959 NET ASSETS 63,959 FUNDS 7 Unrestricted funds 63,959 TOTAL FUNDS 63,959 |
2020 Total funds £ 155 40,964 41,119 (936) 40,183 40,183 40,183 40,183 40,183 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2021 and were signed on its behalf by:
R C Faithorn - Trustee
C L Farrell - Trustee
J D Timms - Trustee
The notes form part of these financial statements
Page 5
EFFINITY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.
FUNDRAISING
| FUNDRAISING | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Fundraising events | 485 | 420 |
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continued...
EFFINITY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021
3.
GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| Supporting organisations that provide sport, other recreational activities development of skills and capabilities. The total grants paid to institutions during the year was as follows: Supporting organisations that provide sport, other recreational activities development of skiills and capabilities. |
2021 £ 32,203 2021 £ 32,203 |
2020 £ 29,809 |
| 2020 £ 29,809 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Prepayments and accrued income | - | 155 | ||
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Other creditors | 936 | 936 | ||
| MOVEMENT IN FUNDS | ||||
| Net | ||||
| movement | At | |||
| At 1.4.20 | in funds | 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 40,183 | 23,776 | 63,959 | |
| TOTAL FUNDS | 40,183 | 23,776 | 63,959 |
6.
7. MOVEMENT IN FUNDS
continued...
Page 7
EFFINITY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 56,776 | (33,000) | 23,776 |
| TOTAL FUNDS | 56,776 | (33,000) | 23,776 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.4.19 | in funds | 31.3.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 24,863 | 15,320 | 40,183 |
| TOTAL FUNDS | 24,863 | 15,320 | 40,183 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 45,923 | (30,603) | 15,320 |
| TOTAL FUNDS | 45,923 | (30,603) | 15,320 |
8. RELATED PARTY DISCLOSURES
During the year, £15,000 (2020 - £0) was received in donations from the trustees of the charity.
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