2021-08-31-accounts - Dt38 Foundation

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REGISTERED COMPANY NUMBER: 09195621 (England and Wales) REGISTERED CHARITY NUMBER: 1160269

Report of the Trustees and

Financial Statements for the Year Ended 31 August 2021

for

DT38 FOUNDATION

JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants

48 Sandy Lane South, Wallington, Surrey, SM6 9RQ

DT38 FOUNDATION

Report of the Trustees for the Year Ended 31 August 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2021. 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

09195621 (England and Wales)

Registered Charity number

1160269

Registered office

TIME CENTRAL 32 GALLOWGATE NEWCASTLE UPON TYNE NE14BF

Trustees

C M Hartwell Company Director (resigned 21.1.21)

J H J Sealey Company Director Mrs T L Tombides Company Director T J Tombides Company Director Mrs J Dean Hospital Director (resigned 21.1.21) J W Sweet Company Director Ms M V Verroken Company Director Ms N T Sealey Company Director J Tombides Retired

Company Secretary

Muckle Secretary Limited

Independent Examiner

JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants 48 Sandy Lane South, Wallington, Surrey, SM6 9RQ

22 March 2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mrs T L Tombides - Trustee

Page 1

Independent Examiner's Report to the Trustees of DT38 FOUNDATION

Independent examiner's report to the trustees of DT38 FOUNDATION ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2021.

Responsibilities and basis of report

As the charity's trustees 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 eligible for independent examination, 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 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:

accounting records were not kept in respect of the Company 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.

Janet Wallace,

JPW ACCOUNTANCY SERVICES & MANAGEMENT CONSULTANTS Chartered Certified Accountants

48 Sandy Lane South, Wallington, Surrey, SM6 9RQ

11/04/2022 Date: .............................................

Page 2

DT38 FOUNDATION

Statement of Financial Activities

for the Year Ended 31 August 2021

				31.8.21	31.8.20
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		10,072	-	10,072	9,298
Other trading activities	2	18,065	-	18,065	48,045
Total		28,137	-	28,137	57,343
EXPENDITURE ON
Raising funds	3	2,619	-	2,619	11,867
Charitable activities	4
Events		11,221	-	11,221	30,948
Other		19,892	-	19,892	38,424
Total		33,732	-	33,732	81,239
NET INCOME/(EXPENDITURE)		(5,595)	-	(5,595)	(23,896)
RECONCILIATION OF FUNDS
Total funds brought forward		(24,116)	-	(24,116)	(220)
TOTAL FUNDS CARRIED FORWARD		(29,711)	-	(29,711)	(24,116)

The notes form part of these financial statements

Page 3

DT38 FOUNDATION

Balance Sheet

31 August 2021

				31.8.21	31.8.20
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Intangible assets	9	8,479	-	8,479	8,479
Tangible assets	10	835	-	835	283
		9,314	-	9,314	8,762
CURRENT ASSETS
Stocks	11	12,400	-	12,400	12,755
Cash at bank		17,730	-	17,730	16,830
		30,130	-	30,130	29,585
CREDITORS
Amounts falling due within one year	12	(24,343)	-	(24,343)	(25,750)
NET CURRENT ASSETS		5,787	-	5,787	3,835
TOTAL ASSETS LESS CURRENT
LIABILITIES		15,101	-	15,101	12,597
CREDITORS
Amounts falling due after more than one year	13	(44,812)	-	(44,812)	(36,713)
NET ASSETS		(29,711)	-	(29,711)	(24,116)
FUNDS	15
Unrestricted funds				(29,711)	(24,116)
TOTAL FUNDS				(29,711)	(24,116)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 4

DT38 FOUNDATION

Balance Sheet - continued 31 August 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 22 March 2022

............................................. T L Tombides - Trustee

The notes form part of these financial statements

Page 5

DT38 FOUNDATION

Notes to the Financial Statements

for the Year Ended 31 August 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer - Fours years on a straight line basis with nil residual value
Office Equipment - Four years on a straight line basis with nil residual value
Fixtures and Fittings - Ten years on a straight line basis with nil residual value

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation 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.

continued...

Page 6

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

2. OTHER TRADING ACTIVITIES

2.	OTHER TRADING ACTIVITIES
		31.8.21	31.8.20
		£	£
	Fundraising events	17,279	28,334
	Merchandise income	786	19,206
	Sponsorships	-	505
		18,065	48,045
3.	RAISING FUNDS
	Raising donations and legacies
		31.8.21	31.8.20
		£	£
	Support costs	1,686	-

4. CHARITABLE ACTIVITIES COSTS

	GENERAL	SUPPORT	TOTAL
	£	£	£
Media & promotions	358	72	430
Events Costs	11,979	2,419	14,398
Launching costs	27,714	5,596	33,310
Website development	3,352	677	4,029

	43,403	8,764	52,167

5. SUPPORT COSTS

Management £ Raising donations and legacies - Other resources expended 11,520 Events - 11,520	Finance £ - 87 - 87	Governance Other costs £ £ - 1,686 - 750 55 - 55 2,436	Totals £ 1,686 12,357 55
			14,098

continued...

Page 7

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

5. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

Management

Management
			31.8.21	31.8.20
			Other
			resources	Total
			expended	activities
			£	£
Insurance & Trademarking			2,348	837
Telephone			575	1,523
Office Costs			906	555
Rent			7,200	7,200
Amortisation of intangible fixed assets			-	446
Depreciation of tangible and heritage assets			491	301
			11,520	10,862
Finance
			31.8.21	31.8.20
			Other
			resources	Total
			expended	activities
			£	£
Bank charges			87	78
Other
			31.8.21	31.8.20
				Total
			Events	activities
			£	£
Sundries			55	-
Governance costs
			31.8.21	31.8.20
	Raising
	donations	Other
	and	resources	Total	Total
	legacies	expended	activities	activities
	£	£	£	£
Accountancy and legal fees	1,686	750	2,436	1,444
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
			31.8.21	31.8.20
			£	£
Depreciation - owned assets			491	300
Patents and licences amortisation			-	446

6. NET INCOME/(EXPENDITURE)

continued...

Page 8

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

7. TRUSTEES' REMUNERATION AND BENEFITS

One of the trustees were paid rental income for the dedicated provision for rental office /storage space of £7,200.00.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Restricted
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
9,298
-
Other trading activities
48,045
-
Total
57,343
-
EXPENDITURE ON
Raising funds
11,867
-
Charitable activities
Events
30,948
-
Other
38,424
-
Total
81,239
-
NET INCOME/(EXPENDITURE)
(23,896)
-
RECONCILIATION OF FUNDS
Total funds brought forward
(220)
-
TOTAL FUNDS CARRIED FORWARD
(24,116)
-

Total
funds
£
9,298
48,045
57,343
11,867
30,948
38,424
81,239
(23,896)
(220)
(24,116)

continued...

Page 9

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

9. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
	Patents
	and
	licences
	£
COST
At 1 September 2020 and 31 August 2021	3,494
AMORTISATION
At 1 September 2020 and 31 August 2021	(4,985)
NET BOOK VALUE
At 31 August 2021	8,479
At 31 August 2020	8,479

10. TANGIBLE FIXED ASSETS

10.	TANGIBLE FIXED ASSETS
		Fixtures
		and	Computer
		fittings	equipment	Totals
		£	£	£
	COST
	At 1 September 2020	1,501	1,414	2,915
	Additions	-	1,043	1,043
	At 31 August 2021	1,501	2,457	3,958
	DEPRECIATION
	At 1 September 2020	1,501	1,131	2,632
	Charge for year	-	491	491
	At 31 August 2021	1,501	1,622	3,123
	NET BOOK VALUE
	At 31 August 2021	-	835	835
	At 31 August 2020	-	283	283
11.	STOCKS
			31.8.21	31.8.20
			£	£
	Finished goods		12,400	12,755

continued...

Page 10

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.8.21		31.8.20
					£	£
	Other loans (see note 14)				23,593	25,000
	Other creditors				750	750
					24,343	25,750
13.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE			YEAR
				31.8.21		31.8.20
					£	£
	Other loans (see note 14)				44,812	36,713
14.	LOANS
	An analysis of the maturity of loans is given below:
				31.8.21		31.8.20
					£	£
	Amounts falling due within one year on demand:
	Other loans				23,593	25,000
	Amounts falling between one and two years:
	Other loans - 1-2 years				44,812	36,713
15.	MOVEMENT IN FUNDS
					Net
				movement		At
		At	1.9.20	in funds		31.8.21
			£		£	£
	Unrestricted funds
	General fund	(24,116)			(5,595)	(29,711)
	TOTAL FUNDS	(24,116)			(5,595)	(29,711)
	Net movement in funds, included in the above are as follows:
		Incoming		Resources		Movement
		resources		expended		in funds
			£		£	£
	Unrestricted funds
	General fund	28,137		(33,732)		(5,595)
	TOTAL FUNDS	28,137		(33,732)		(5,595)

continued...

Page 11

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

	Net
	movement	At
At 1.9.19	in funds	31.8.20
£	£	£
Unrestricted funds
General fund (220)	(23,896)	(24,116)
TOTAL FUNDS (220)	(23,896)	(24,116)
Comparative net movement in funds, included in the above are as follows:
Incoming	Resources	Movement
resources	expended	in funds
£	£	£
Unrestricted funds
General fund 57,343	(81,239)	(23,896)
TOTAL FUNDS 57,343	(81,239)	(23,896)

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1.9.19	in funds	31.8.21
	£	£	£
Unrestricted funds
General fund	(220)	(29,491)	(29,711)
TOTAL FUNDS	(220)	(29,491)	(29,711)

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	85,480	(114,971)	(29,491)
TOTAL FUNDS	85,480	(114,971)	(29,491)

continued...

Page 12

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2021

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2021.

Page 13

DT38 FOUNDATION

Detailed Statement of Financial Activities for the Year Ended 31 August 2021

Detailed Statement of Financial Activities for the Year Ended 31 August 2021
	31.8.21	31.8.20
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Gifts	-	1
Donations	10,072	9,297
	10,072	9,298
Other trading activities
Fundraising events	17,279	28,334
Merchandise income	786	19,206
Sponsorships	-	505
	18,065	48,045
Total incoming resources	28,137	57,343
EXPENDITURE
Other trading activities
Purchases	933	11,867
Charitable activities
Advertising	9,586	12,220
Events Cost	892	15,953
Website	688	2,775
	11,166	30,948
Other
Accommodation & Travel	285	15,040
Book-keeping & Accounting	2,250	6,000
Management fee	5,000	5,000
	7,535	26,040
Support costs
Management
Insurance & Trademarking	2,348	837
Telephone	575	1,523
Office Costs	906	555
Rent	7,200	7,200
Patents and licences	-	446
Fixtures and fittings	-	18
Computer equipment	491	283
	11,520	10,862
Finance
Bank charges	87	78

This page does not form part of the statutory financial statements

Page 14

DT38 FOUNDATION

Detailed Statement of Financial Activities
for the Year Ended 31 August 2021
	31.8.21	31.8.20
	£	£
Finance
Other
Sundries	55		-
Governance costs
Accountancy and legal fees	2,436	1,444
Total resources expended	33,732	81,239
Net expenditure	(5,595)	(23,896)

This page does not form part of the statutory financial statements

Page 15

DT38 FOUNDATION

Contents of the Financial Statements for the Year Ended 31 August 2021

		Page
Report of the Trustees		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Balance Sheet	4	to	5
Notes to the Financial Statements	6	to	13
Detailed Statement of Financial Activities	14	to	15