REGISTERED CHARITY NUMBER: 1156956
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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
Our objectives are :
To provide disadvantaged young people with opportunities for self-improvement and help them participate in society to a greater extent as mature and responsible individuals by providing financial support for:
(a) recreational and leisure-based learning activities provided through involvement in artistic, cultural and athletic pursuits which provide opportunities for interest, enjoyment and self-expression.
(b) opportunities for social engagement which improve their wellbeing, increase their confidence and self-esteem and enable them to engage more fully within their local community as both contributors and beneficiaries.
(c) activities which will develop their practical, social and interpersonal skills, enable them to become more independent, realise their potential and achieve their own personal goals.
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.
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 its expenditure.
During the period under review the Effinity Charitable Foundation raised £66,002 (2023: £40,881) from donations and fundraising. Charitable expenditure amounted to £46,291 (2023: £62,044) and support costs of £4,122 (2023: £2,481). This has produced a surplus of £15,589 (2023 - a deficit of £23,644) and has increased the unrestricted funds from £29,815 to £45,404 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).
Page 1
EFFINITY CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES for the year ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
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
Principal address
Central Court 1B Knoll Rise Orpington Kent BR6 0JA
Trustees
C L Farrell R C Faithorn L Maskell P Whalley M Meehan
Independent Examiner
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
Approved by order of the board of trustees on 11 October 2024 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 2024.
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
11 October 2024
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EFFINITY CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 66,002 EXPENDITURE ON Charitable activities Supporting organisations that provide sport, other recreational activities development of skills and capabilities. 46,291 Other 4,122 Total 50,413 NET INCOME/(EXPENDITURE) 15,589 RECONCILIATION OF FUNDS Total funds brought forward 29,815 TOTAL FUNDS CARRIED FORWARD 45,404 |
2023 Total funds £ 40,881 62,044 2,481 64,525 (23,644) 53,459 29,815 |
|---|---|
The notes form part of these financial statements
Page 4
EFFINITY CHARITABLE FOUNDATION
BALANCE SHEET 31 March 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 46,340 CREDITORS Amounts falling due within one year 4 (936) NET CURRENT ASSETS 45,404 TOTAL ASSETS LESS CURRENT LIABILITIES 45,404 NET ASSETS 45,404 FUNDS 5 Unrestricted funds 45,404 TOTAL FUNDS 45,404 |
2023 Total funds £ 30,751 (936) 29,815 29,815 29,815 29,815 29,815 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2024 and were signed on its behalf by:
R C Faithorn - Trustee
C L Farrell - 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 2024
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. 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. |
2024 £ 46,291 2024 £ 46,291 |
2023 £ 62,044 |
|---|---|---|
| 2023 £ 62,044 |
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continued...
EFFINITY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 936 | 936 | |
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | At | ||
| At 1.4.23 | in funds | 31.3.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 29,815 | 15,589 | 45,404 |
| TOTAL FUNDS | 29,815 | 15,589 | 45,404 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 66,002 | (50,413) | 15,589 |
| TOTAL FUNDS | 66,002 | (50,413) | 15,589 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.4.22 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,459 | (23,644) | 29,815 |
| TOTAL FUNDS | 53,459 | (23,644) | 29,815 |
continued...
Page 7
EFFINITY CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024
5. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 40,881 | (64,525) | (23,644) |
| TOTAL FUNDS | 40,881 | (64,525) | (23,644) |
6. RELATED PARTY DISCLOSURES
During the year, £66,002 (2023 - £40,881) was received in donations including £13,187 (2023 - £8,217) in gift aid, of which £65,625 (2023 - £31,818) was received from the trustees, including gift aid of £13,125 (2023 - £6,364).
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