Trustees’ Annual Report for the period
From: 01/08/23 Period start date To: 31/07/24 Period end date
Charity name: Project Equinox
Charity registration number: 1159116
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | • To promote social inclusionamongst people at risk of social exclusion by reason of their age, disability, ill health or financial hardship, in particular, amongst veterans of the Armed Forces (or of the Merchant Navy who have served in British Military operations), by the provision of long term housing for such persons and opportunities for activities and interaction with persons of a different demographic, in particular, students from The University of Plymouth, and……. • To advance education, in particular, but without prejudice to the generality of the foregoing:- o by enabling students to develop skills and experience relevant to their studies; and…… by publishing the results of research with a view to informing and enhancing good practice in meeting the needs of persons in charitable need. |
| 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 |
Following the disappointment of a highly suitable site falling out of our reach in the previous period, this period has been spent in the resumed search for an alternative. Several promising sites have been identified, and assessed for feasibility. Some have been sites for demolition of an existing building, followed by a bespoke build, and some have been existing buildings for renovation, and conversion to Project Equinox specifications. This process has taken a huge amount of time and effort,andprogress has been frustratingly |
| slow. The end of the period witnessed us again being runners up in our pitch to acquire two ideal sites in succession. |
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|---|---|---|
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | Mindful of the Trustees’ duty to protect the charity’s obligation towards public benefit, we can report that this obligation remains irrelevant at this point. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | Not applicable. |
| Policy on social investment including program related investment |
Para 1.38 | Not applicable. |
| Contribution made by volunteers |
Para 1.38 | Not applicable at this stage |
| 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 | As detailed above, this charity remains in the position of seeking out and securing a suitable site for this long awaited Project. For three years in succession we have come close to securing such sites, only to be thwarted at the eleventh hour, each time. Another year has been spent seeking this elusive site, but although time has been wasted, we have advanced substantially in terms of the input of specialist Trustee expertise, and assistance. This has led to the provision of pro bono architectural expertise and advice, enabling us to compete (for a site) more realistically. We have therefore not wasted any funds in this regard, during this period. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | Not applicable. |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | Not applicable. |
|---|---|---|
| Investment performance against objectives |
Para 1.41 | Not applicable. |
| Other | Not applicable. |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | At the end of the period the Project retains sufficient funds to enable it continue with its quest, with more pledged funds available as and when required. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Not applicable at this stage. |
| Amount of reserves held | Para 1.22 | Nil. |
| Reasons for holding zero reserves |
Para 1.22 | Not applicable. |
| Details of fund materially in deficit |
Para 1.24 | Not applicable. |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | There are no uncertainties about the Project’s financial viability. We are most fortunate to have enjoyed the continued support of The Kirby Laing Foundation (KLF) that has funded our work and pledged to support us when we are in a position to secure a site. When we do secure a site we will be operating in partnership with a major Housing Association who will own,fund and operate the business. |
| 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 | As stated elsewhere, we have been supported throughout by the generosity of the KLF. |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | Not applicable. |
| A description of the principal risks facing the charity |
Para 1.46 | Not applicable. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
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|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Project Equinox is a 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 | With the advice and concurrence of Trustees the Chairman appoints Trustees according to their background, professional and specialist experience. |
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 | Not applicable. |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | Not applicable. |
| Relationship with any related parties |
Para 1.51 | Not applicable. |
| Other | Not applicable. |
Reference and Administrative details
| Charity name | Project Equinox |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1159116 |
| Charity’s principal address | Project Equinox, c/o Abbotswood Taxation & Accountancy Services, Trevear House, Old County Court, Alverton Terrace, PENZANCE, TR18 4GH |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Prof Terence Lewis MBE FRCS |
Chairman | Trustees | ||
| Stephen Tillman BEng, MSc , CEng, MIStructE, MICE |
Trustees | |||
| Denis Wilkins MD FRCS |
Trustees | |||
| Peter GirlingMBE | Since Oct 2022 | Trustees | ||
| Chris Phillips | Since Oct 2022 | Trustees | ||
| Major General Richard Cantrill OBE MC RM |
Since Feb 2023 | Trustees |
– Corporate trustees names of the directors at the date the report was approved
Director name NOT APPLICABLE
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| NOT APPLICABLE | ||
Funds held as custodian trustees on behalf of others
Description of the assets Not applicable. held in this capacity Name and objects of the Not applicable. charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for Not applicable. safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
John Pentreath, Project Coordinator (paid on a consultancy basis).
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Not applicable.
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) Full name(s) Position (eg Secretary, Chair, etc) Date |
Original signed |
|
|---|---|---|
CT Lewis |
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Chairman |
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| 16thOctober 2024 | ||
| 16thOctober 2024 |
Charity Name No (if any) Project Equinox 1159116 Receipts and payments accounts CC16a For the period Period start date Period end date from 01/08/2023 31/07/2024
Section A Receipts and payments Unrestricted Restricted Endowment Total funds Last year funds funds funds to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £ A1 Receipts - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Sub total (Gross income for AR) [ - ] - - - - A2 Asset and investment sales, (see table). - - - - - - - - - ~~Sub total~~ - ~~—————~~ A3 Payments Bank charges 54 54 Consultant fee for Coordinator 4,150 4,150 Expenses 9 9 Trustee indemnity 1,069 1,069 Zoom / IT 156 156 Website renewal Abbotswood Accountancy fee Sub total [ 5,437 ] 5,437 ~~=—=====~~ A4 Asset and investment purchases, (see table) - - - - - - - - Sub total [ - ] - - - - ~~—~~ Total payments ~~————~~ [ 5,437 ] Net of receipts/(payments) 5,437 A5 Transfers between funds A6 Cash funds last year end 25,335 Cash funds this year end_ ~~SS]~~ 19,898 ~~==~~
CCXX R1 accounts (SS)
16/10/2024
1
| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets |
Signature Original signed Details Details Bank Account Details Details Total cash funds (agree balances with receipts and payments account(s)) Details |
Unrestricted funds Restricted funds to nearest £ to nearest £ 19,898 - - - 19,898 - ok OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name TERENCE LEWIS MBE |
Endowment funds to nearest £ |
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| Endowment funds to nearest £ |
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| Current value (optional) |
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| Current value (optional) |
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| When due (optional) |
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| Date of approval |
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| Original signed | TERENCE LEWIS MBE | 16-Oct-24 | |
CCXX R2 accounts (SS)
16/10/2024
2