**Charity registration number 1156961 (England and Wales)** ## **EDSTART FOUNDATION** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2024** ## **EDSTART FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the accounts|6 - 8| ## **EDSTART FOUNDATION** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The Trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Charities Act 2011 and "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)". ## **Objectives and activities** The charity's objects are to raise self esteem, knowledge and experience through the power of education and to provide sports to excel growth, encourage participation and social interaction. Each year the trustees review the objectives and activities of the charity to ensure they continue to reflect the charity's aims and to provide a public benefit. The trustees are more than satisfied that they do. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** The results for the year ended 31 March 2024 are set out in the Statement of Financial Activities on page 4. The trustees consider the performance of the charity to be satisfactory. ## **Financial review** The trustees confirm that the charity's assets are available and adequate to fulfil its obligations as they fall due. ## Principal funding sources The majority of the trust income is from the local community. ## Reserves Policy It is the policy of the charity to maximise unrestricted funds, which are free reserves of the charity, to ensure sufficient funds are available to cover the charitable and administration costs for the foreseeable future. Free reserves at the year end were £284 (2023: £3,053). ## **Risk management policy** The trustees have examined the operational and business risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Plans for the future** The Charity ceased its fundraising activities in the year to 31 March 2024 and the trustees aim to wind up the charity in the year to 31 March 2025.. ## **Structure, governance and management** The charity was established by a charitable trust deed. The Trustees who served during the year and up to the date of signature of the financial statements were: Mr J Lowe Mr M Holleran Mr A Burns Mrs N Ollerhead No trustees have any interest in the charity. ## Recruitment and appointment of trustees The first trustees will serve until they resign. Subsequent trustees are appointed by the board and are appointed for a term of three years. - 1 - ## **EDSTART FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## Organisation structure The Edstart Foundation is governed by a Board of Trustees, which meets at such times as circumstances require and covers all matters relating to policy and management. There are currently seven trustees. The Trustees' report was approved by the Board of Trustees. ## **Mr J Lowe** Trustee Dated: 13 February 2025 - 2 - ## **EDSTART FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDSTART FOUNDATION** I report to the Trustees on my examination of the financial statements of Edstart Foundation for the year ended 31 March 2024. ## **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 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no 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 Charities Act 2011. - 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached. Philip A Riding Barlow Andrews LLP Chartered Accountants Carlyle House, 78 Chorley New Road, Bolton Dated: 13 February 2025 - 3 - ## **EDSTART FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2024**_ |||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|30,000|53,187| |**Expenditure on:**|||| |Charitable activities|**4**|32,769|57,857| |**Net expenditure for the year/**|||| |**Net movement in funds**||(2,769)|(4,670)| |Fund balances at 1 April 2023||3,053|7,723| |**Fund balances at 31 March 2024**||284|3,053| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **EDSTART FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2024**_ |**Notes**
**Current assets**
Cash at bank and in hand
**Net current assets**
**The funds of the charity**
Unrestricted funds
**9**|**2024**
**£**
284|**£**
284
284
284|**2023**
**£**
3,053|**£**
3,053| |---|---|---|---|---| |||||3,053| |||||3,053| The financial statements were approved by the Trustees on 13 February 2025 Mr J Lowe **Trustee** - 5 - ## **EDSTART FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** Edstart Foundation is a trust established by a charitable trust deed. The principle place of business is 5 Gerald Road, Salford. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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 charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. ## **1.4 Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the funds have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. ## **1.5 Expenditure** Resources expended are recognised on an accruals basis. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand and deposits held at call with banks. - 6 - ## **EDSTART FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Donations and gifts|30,000|53,187| |**Donations and gifts**||| |Other|30,000|53,187| ||30,000|53,187| ## **4 Charitable activities** |Rent
Bank charges
**5**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements|**2024**
**£**
32,500
269
32,769
**2024**
**£**
-|**2023**
**£**
57,762
95| |---|---|---| |||57,857| |||**2023**
**£**
-| ## **6 Trustees** None of the Trustees (or any persons connected with them) received any remuneration, benefits or expenses from the charity during the year. - 7 - ## **EDSTART FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **7 Employees** There were no employees during the year (2022: 0). ## **8 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **9 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At**
General funds
**Previous year:**
**At**
General funds|**1 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31 March**
**2024**
**£**
**£**
**£**
**£**
3,053
30,000
(32,769)
284
**1 April**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**At 31 March**
**2023**
**£**
**£**
**£**
**£**
7,723
53,187
(57,857)
3,053| |---|---| ## **10 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 8 -