DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
Company Registered Number: 09006198 Charity Registered Number: 1157596
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 11 |
DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
| Trustees | David Blood |
|---|---|
| Peter Harris | |
| Beth Blood | |
| Company registered number 09006198 Charity registered number 1157596 Registered office Third floor 20 Old Bailey London EC4M 7AN Company secretary Temple Secretarial Limited Independent Examiner Stuart McKay BSc FCA DChA MHA Chartered Accountants 2 London Wall Place London, United Kingdom EC2Y 5AU Bankers Barclays 1 Stanhope Gate London W1K 1AF Solicitors Withers LLP 20 Old Bailey London EC4M 7AN |
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects and purpose of the Charity, as per its Memorandum & Articles of Association, are such exclusively charitable purposes as the Trustees may in their absolute discretion determine. The main activities undertaken in relation to the purposes of the charity as set out in its governing document are detailed below.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Main activities undertaken to further the Charity's purposes for the public benefit
The Charity has been established as a grant maker with wide charitable purposes for maximum flexibility. Without limitation, the Trustees initially wish to focus on making grants to projects aimed at advancement of education, conflict resolution and human rights, sustainable development and the protection, enhancement and rehabilitation of the environment.
Achievements and performance
a. Main achievements of the Charity
The Charity paid out grants to institutions during the period totalling £10,000 (2021 - £10,000) of which £10,000 was to the Arts Without Boundaries (2021 - £10,000) to support Arts Without Boundaries’ Annual Arts Programme, comprising live Band Without Boundaries workshops, online Beat Box percussion sessions, poetry sessions and nature/well-being photography sessions. The grants made in the year were to projects with aims that align with the Charity's focus above.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
b. Financial position
The Charity received donations of £100,000 (2021 - £100,000) during the year. Gift aid of £25,080 (2021 - £25,000) has been reclaimed from HMRC. In addition, a donation of professional fees of £1,980 (2021 - £5,900) was also received.
The Charity incurred expenditure of £15,940 (2021 - £19,543) which has resulted in a net surplus of £111,120 (2021 - Surplus of £111,357) .
The Trustees apply the income received by giving grants to charitable bodies. The grants paid in the year have been disclosed within the review of 'Acheivements' above.
c. Reserves policy
The Charity only holds unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
At the year end, the Charity held unrestricted general funds of £387,842 (2021 - £276,722) . Given that the majority of the Charity's expenditure arises from grant-making activities which are awarded at the discretion of the Trustees, we conclude that the level of reserves held at the year end is adequate.
Structure, governance and management
a. Constitution
Jock's Influence Limited was formerly known as A2BD Foundation UK. It was incorporated as a charitable company limited by shares on 23 April 2014 (Company Registered Number 09006198) and also registered as a Charity on 25 June 2014 (Charity Registered Number 1157596). The change of name by Resolution was adopted on 1 August 2017.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Organisational structure and decision-making policies
Jock's Influence Limited is a wholly owned subsidiary of Jock's Influence Inc. (formerly A2BD Foundation US), a not-for-profit organisation registered in the United States, which is the Charity's sole shareholder.
The Trustees meet on an annual basis to oversee the development of the Foundation and to determine who grants will be made to.
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
In preparing this report, the Trustees have taken advantage of the small companies exemptions within Part 15 of the Companies Act 2006.
Approved by order of the Members of the Board of Trustees and signed on their behalf by:
................................................ David Blood
Date: �����������������������
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent Examiner's Report to the Trustees of Jock's Influence Limited ('the Charity')
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity (and 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 Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts 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 Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
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 in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
28/07/2023 Signed: Dated:
Stuart McKay BSc FCA DChA
MHA, 6th Floor, 2 London Wall Place, London, EC2Y 5AU
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
| Income from: Donations: Donations Gift aid reclaimed Donation of professional fees Total income Expenditure on: Charitable activities: Grant to Arts Without Boundaries Independent examination fees Professional fees Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 100,000 25,080 1,980 127,060 10,000 2,760 3,180 15,940 111,120 276,722 111,120 387,842 |
Total funds 2022 £ 100,000 25,080 1,980 127,060 10,000 2,760 3,180 15,940 111,120 276,722 111,120 387,842 |
Total funds 2021 £ 100,000 25,000 5,900 |
|---|---|---|---|
| 130,900 | |||
| 10,000 2,580 6,963 |
|||
| 19,543 | |||
| 111,357 | |||
| 165,365 111,357 |
|||
| 276,722 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 - 11 form part of these financial statements.
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JOCK'S INFLUENCE LIMITED (A company limited by share capital and registered charity) REGISTERED NUMBER: 09006198
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Current assets Debtors 6 Cash at bank and in hand Creditors: Amounts falling due within one year 7 Net current assets Total net assets Charity funds Unrestricted funds Share capital Total unrestricted funds Total funds |
2022 £ 25,990 364,612 390,602 (2,760) 387,841 1 |
2022 £ 387,842 387,842 387,842 387,842 |
2021 £ 25,990 253,312 279,302 (2,580) 276,721 1 |
2021 £ 276,722 |
|---|---|---|---|---|
| 276,722 | ||||
| 276,722 | ||||
| 276,722 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The Members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
David Blood
Date: �����������������������
The notes on pages 8 to 11 form part of these financial statements.
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. General information
Jock's Influence Limited is a private charitable company limited by share capital registered with the Charity Commission (Charity registration number 1157596) and Registrar of Companies (Company registration number 09006198) in England and Wales.
The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity's operations and principal activities are detailed in the Trustees' report.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applies to all years presented unless otherwise stated.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Jock's Influence Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Charity has applied Update Bulletin 1 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are presented in pounds sterling which is the functional currency of the Charity and all amounts are rounded to the nearest pound.
2.2 Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
2.4 Expenditure
All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled.
All expenditure is inclusive of irrecoverable VAT.
2.5 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
2.9 Financial instruments
The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows:
Debtors - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 6. Prepayments are not financial instruments.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments, and are measured at amortised cost as detailed in Note 7.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgement:
• Given the nature of the Charity's income streams, that the Charity continues to receive voluntary donations and hence remains a going concern.
4. Staff costs
The Charity employed no staff in either the current or prior year.
5. Trustees' remuneration and expenses
The Trustees are considered to be the Key Management Personnel of the Charity. During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .
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DocuSign Envelope ID: F1CD2C5D-5B46-4D18-B1AF-8E5EC7803C0D
JOCK'S INFLUENCE LIMITED
(A company limited by share capital and registered charity)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Debtors
| Due within one year Accrued gift aid Prepayments |
2022 £ 25,000 990 25,990 |
2021 £ 25,000 990 |
|---|---|---|
| 25,990 |
7. Creditors: Amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals | 2,760 | 2,580 |
8. Share capital
| Allotted, called up and fully paid 1 Ordinary share of £1 |
2022 £ 1 1 |
2021 £ 1 |
|---|---|---|
| 1 |
The £1 ordinary shareholder is Jock's Influence Inc. (formerly A2BD Foundation US), a not-for-profit organisation registered in the United States. Shares carry a nominal value of 100 pence each and are not transferable, nor can they be withdrawn. They carry no right to interest, dividend or bonus.
9. Related party transactions
Jock's Influence Limited is a wholly owned subsidiary of Jock's Influence Inc. which is the Charity's sole shareholder.
During the year David Blood, a Trustee of the Charity, donated £100,000 to the Charity (2021 - £100,000) with no conditions or restrictions. In addition David Blood paid professional fees on behalf of the Charity totalling £1,980 (2021 - £5,900).
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