## **Trustees’ Annual Report for the period** **From 01/04/2023 Period start date To 31/03/2024 Period end date** **Charity name: The KONA Foundation** **Charity registration number: 1157502** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|1. Develop young peoples skills, capacities
and capabilities.
2. Advancing education of young people
3. Relieving young peoples unemployment
in the UK and Europe
4. Providing recreational events locally| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|As the volunteer projects - with which
KONA used to help the community - finally
came to an end in January 2023, due to
Brexit, this year KONA focussed on
bilateral youth projects (youth weeks) with
Austrian partners during the summer
months.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|As EU funding from our partners can no
longer be used for projects within the UK
from January 2023, we succeeded in
finding a solution for hosting youth groups
with the help of regional Austrian youth
funds and continuing international
cooperation in this way.| |Policy on social investment
including program related
investment|Para 1.38|| |Contribution made by
volunteers|Para 1.38|Volunteers are an important asset of our
organisation and have been helping out
also during the youth projects of this year
to realize community activities.| Other ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|The work with the international young
people was very positive and successful.
From July to August 2023, we have hosted
4 groups of young people from Austria
aged between 15 and 17y. Intercultural
learning and immersion in a new cultural
context were at the centre of the projects,
which promoted solidarity and shared
understanding overall.| **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |Achievements against
objectives set|Para 1.41|| |Performance of fundraising
activities against objectives
set|Para 1.41|| |Investment performance
against objectives|Para 1.41|| |Other||| ## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|Also this year we could maintain our stable
financial status.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|| |Amount of reserves held|Para 1.22|| |Reasons for holding zero
reserves|Para 1.22|| |Details of fund materially in
deficit|Para 1.24|| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|| ## **Additional information (optional)** ## You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47
Para 1.46|Funding from a quasi-governmental
organisation outside the UK (regional
Chamber of Labour Austria) made it
possible to continue our international youth
work (which remains interrupted in the area
of volunteering due to Brexit and the
associated loss of EU funding)| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted||| |A description of the principal
risks facing the charity|Para 1.46|The resumption of the international
volunteering work of recent years, which
was based on European-funded projects, is
still not feasible due to the impact of Brexit,
but we are looking for alternative options,
as we did this year with the bilateral funding
cooperation for youth projects.| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|Memorandum + Articles of Association| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|CIO| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Trustee meeting and vote
It is still our aim to attract more trustees for
the charity| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Policies and procedures
adopted for the induction
and training of trustees|Para 1.51|•
Charity Commission guidelines
•
ERASMUS+ Programme guide
•
Handbook for projects and events| |---|---|---| |The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|•
Board
•
Director
•
Volunteers
•
The “Rückenwind Network” and its
partners| |Relationship with any
related parties|Para 1.51|| |Other||| ## **Reference and Administrative details** |Charity name|The KONA Foundation| |---|---| |Other name the charity uses|KONA| |Registered charity number|1157502| |Charity’s principal address|The Manse
Garret Street
Cawsand
PL10 1PD Torpoint, Cornwall| ||| **Names of the charity trustees who manage the charity** |1
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3
4
5
6
7
8
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |---|---|---|---|---| ||Doreen Westlake|||| ||Jerome Leopold|||| ||Markus Albrecht|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – Corporate trustees names of the directors at the date the report was approved **Director name** Sarah Hill Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of**
**adviser**
**Name**
**Address**||| |||| |||| |||| |||| |**Name of chief executive or names of senior staff members (Optional information)**||| |||| ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**|**Signature(s)**| |---|---| |**Full name(s)**|**Full name(s)**Markus Albrecht| |**Position (eg Secretary,**|Chair| |**Chair, etc)**|| ||| |**Date**|05.10.2024| Company Trgistration number: CE002121 Charity registration number.. 1157502 The Kona Foundation (A company limited by share capital) Annual Report and Fln8ncial Statements for the Year Ended 31 March 2024 The Kona Foundation Contents Referen￿ and Administrative Details Trustee's Report 2to4 Accountants, Report Independent Examlnevs Report Statement of Finanaal Activlties Balan￿ Sheet The Kona Foundatlon Trustee's Report The member, a director for the purposes ot company law, presents the annual report together with the financial statements and auditors. report of the charitable company for the year ended 31 March 2024. Objectlves and actlvltles Publlc beneflt 1) Develop young people's skills, capaaties and capabilities 2) Advancing educatlon 3) Relieving young people's unemployment in the UK and Europe 4) Providing recreational events locally 5) Supporting the local community in our full capaclty The trustee confirm that they have complied with the requirements of section 17 of the Charitles Act 2011 lo have due regard to the public benefit guidance published by the Charity Commls3i0n for England and Wales. Tru8ts08 and offlcers The trustees and officers serving during the year and slnce the year end were as follows,. Trustee: Ms Doreen Westlake Structure, governance and management Flnanclal Instruments Objectlves and pollcles The charitys aCtI￿￿tIeS expose it to 8 number of financial rlsks includlng credlt risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charitvs policies approved by the board of trustee, which provide written principles on the use of financial derivalives to manage these risks. The charity does not use derlvative financial instruments for speculative purposes. Cash flow rl$k The charity's activities expose il primarily to the financial risks of changes in foreign currency exchange rates and interesl rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities a￿ held at fixed rate to ensure certainty of cash fiows. Credlt rfsk The charitls principal financial assets are bank balances and cash. trade and other ￿￿¢vab￿S, and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounls presented in the balance sheet are net of allowanos for doubtful re￿1vableS. An allowan￿ for impaimient is made where there is an identified loss event which, based on previous experien￿, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credÉt-ratings assigned by international credit-raling agencies. The charity has no significanl concentration of credit risk, with exposure spread over a large number of Counterparties and customers. The Kona Foundation Trustee's Report Liquidlty rfsk In order to maintain liquidty to ensure that sufficient funds a￿ avallable for ongoing operats'ons and future developments, the charity uses a mixture of long-term and short-tenn debt finance. Further details regarding liquidity risk can be found in the Statement of accounkn'ng policies in the financial statements. Statement of trustee's responslbllitlos The trustee (who is also the director of The Kona Foundation for the purposes of company law) is responsible for preparing the trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting practi￿>, induding FRS 102 "The Financial Reporting Standard applicable In the UK and Republic of Ireland" Company law requires the member to prepare financial statements for each financlal year, Under company law the member must nol approve the financial statements unless she is satisfied that they give a true and fair view of Ihe state of affairs of the charitable Company and of the incoming resOUr￿S and application of resources, including its income and expenditure, of the charitable company for that period. In preparing Ihese financlal statements, the member is required to.. select suitable accounting policies and apply them consSstently', observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accountlng standards, comprising FRS 102 have been followed. Subject to any material departures disclosed and explained in the financial statement8-, and prepare the financial slatements on the going concern basis unless li is inapproprlate to presume thal the charitable company will continue in buslness. The member is responsible for keeping proper accounting records that can dlsclose wth reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. Th@ trustee is responsible for the maintenance and integrity of the corporate and financial Infomiatlon Included on Ihe charilable companys website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The Kona Foundation Reference and Admlnlstratlve Detalls Charlty Reglstratlon Number 1157502 Company Roglstratlon Numb•r CE002121 The charity is incorporated in United Kingdom. Garrett Street Cawsand Cornwall PL10 1PD Ro958tered Office The Kona Foundatlon Trustee's Raport Dlsclosure of Informatlon to audltor The member has taken steps that she ought to have taken as a member in order to make herself aware of any relevant audit information and to establish that the charity's auditor is aware of that infonnation. The member confinns that there is no relevant infonnation that she knows of and of which she knows the audilor is unaware. The annual report was approved by the member of the charity on .................... and signed on its behalf by.. Qh,A/e&go Ms Doreen Westlake Trustee Chartered Accountants, Report to the Trustee on the Preparatlon of tho Unaudited Statutory Accounts of The Kona Foundation for the Year Ended 31 March 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Kona Foundation for the year ended 31 March 2024 as set out on pages 7 to 8 from the companvs accounkn'ng records and from inforynatlon and explanations you have given us. As a practising member firm of the Chartered Institute of Management Accountants (CIMA), ￿ are subject to its ethical and other professional requirements which are detailed at hltps'.Ilww.cimaglobal.comlPROFESSIONAUETHICS. Thls report Is made solely to the Trustees of The Kona Foundation. Our work has been undertaken solely to prepare for your approval the accounts of The Kona Foundation and state those matters that we have agreed to state to the Twstees of The Kona Foundation. To the fullesl extent permitted by law, we do not accept or assume responsibility to anyone other than The Kona Foundation and ts Trustees as a body for our work or for thls report. It Is your duty to ensure that The Kona Foundation has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of The Kona Foundation. You consider that The Kona Foundation is exempt from the statutory audit requlrement for the year. We have not been instructed to carry out an audlt or a revlew of the accounts of The Kona Foundatlon. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Carey Accountancy Ltd Higher Treyone Polbathic Cornwall PL113H 5610512024 Date., The Kona Foundatlon Statement of Flnanclal Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognlsed Gains and Losses) Unrestrlctsd funds Total 2024 Noto Income and Endowments from: Donations and legacies Total income 16,157 16.157 16,157 16,157 Expendlture on: Raising funds Charitable activities 17,229) 6,324 (7,229) 6,324 Total expenditure Net income 13,553 13,553 2,604 2,604 Net rnovement in funds 2,604 2,604 R•¢onclllatlon of funds Total funds brought forward Total funds carried forward 3,132 3,132 5,736 Unrestrlctod fund$ 5,736 Total 2023 Not• Income and Endowments from: Donations and legacies Total Income 40,805 40,805 40,805 40,805 Expendlture on: Raising funds Charitable actlvities (36,777) 12,122) 48,899 (36,777) 12,122 48,899 Total expenditure Net expenditure (8,094 8,094 Net movement in funds (8,094) (8,094) Reconclllatlon of funds Total funds brought forward Total funds carried fo￿r￿ 11,227 11,227 3,133 3,133 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 Is shown in note . Page 7 The Kona Foundatlon (Reglstratlon number: CE002121) Balance Shoet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets Currnnt a88ets Cash at bank and in hand 955 2,057 5,035 1,182 Crodltorn.. Amounts falllng du• wlthln ono year Not current assets 254 106 4,781 1,076 Not assets 5,736 3,133 Funds of the charlty.. Unrestrlctod Incomo funds Unrestricted funds 5,736 3,133 Total funds 5,736 3,133 The financial statements on pages 7 to 8 were approved by the , and authorised for issue on . and signed on her behalf by: Al, rf6 Lt£4ch Ms Doreen Westlake Trustee Page 8 The Kona Foundation Independent Examlner's Report to the trustee of The Kona Foundatlon ('tho Company.) I report to the charity trustee on my examination of the accounts of the Company for the year ended 31 March 2024. Rosponslbllltlos and basls ol raport As the charity's trustee of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are ellgible for independent examlnation, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commisslon under section 145(5)(b) of the 2011 Act. Indepondent oxamlner's Staternont I have completed my examination. I confimi that no matters have come to my attention In connection wlth the examlnation givlng me cause to belleve: 1, accounting records We￿ not kept in respect of The Kona Foundation as required by sectlon 386 of the 2006 Act; or 2. the accounts do not accord wth those records,, or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Slalement of Recommended Practice for accounting and reporting by charitles lapplicable to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in thls ￿pOrt in order to enable a proper understanding of the accounts lo be reached. Carey Accountancy Ltd CIMA 0610512024