2022-08-31-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 2022

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 2022

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 2022. 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

Joe Harry John Sealey Company Director Tracy Lee Tombides Company Director Taylor James Tombides Company Director Jonathan Whinfield Sweet Company Director Michele Virginia Verroken Company Director Nicole Toni Sealey Company Director Jim 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

Approved by order of the board of trustees on 18 April 2023 and signed on its behalf by:

Tracy Lee 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 2022.

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 2. 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

18 April 2023

Page 2

DT38 FOUNDATION

Statement of Financial Activities

for the Year Ended 31 August 2022

				31.8.22	31.8.21
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		51,690	-	51,690	10,072
Other trading activities	2	28,035	-	28,035	18,065
Total		79,725	-	79,725	28,137
EXPENDITURE ON
Raising funds	3	1,563	-	1,563	2,619
Charitable activities	4
Programme Activities		21,498	-	21,498	11,221
Other		26,673	-	26,673	19,892
Total		49,734	-	49,734	33,732
NET INCOME/(EXPENDITURE)		29,991	-	29,991	(5,595)
RECONCILIATION OF FUNDS
Total funds brought forward		(29,711)	-	(29,711)	(24,116)
TOTAL FUNDS CARRIED FORWARD		280	-	280	(29,711)

The notes form part of these financial statements

Page 3

DT38 FOUNDATION

Balance Sheet

31 August 2022

				31.8.22	31.8.21
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Intangible assets	9	8,479	-	8,479	8,479
Tangible assets	10	344	-	344	835
		8,823	-	8,823	9,314
CURRENT ASSETS
Stocks	11	10,400	-	10,400	12,400
Cash at bank		21,676	-	21,676	17,730
		32,076	-	32,076	30,130
CREDITORS
Amounts falling due within one year	12	(9,880)	-	(9,880)	(24,343)
NET CURRENT ASSETS		22,196	-	22,196	5,787
TOTAL ASSETS LESS CURRENT
LIABILITIES		31,019	-	31,019	15,101
CREDITORS
Amounts falling due after more than one year	13	(30,739)	-	(30,739)	(44,812)
NET ASSETS		280	-	280	(29,711)
FUNDS	15
Unrestricted funds				280	(29,711)
TOTAL FUNDS				280	(29,711)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 2022

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 18 April 2023 and were signed on its behalf by:

Tracy Lee 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 2022

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 2022

2.	OTHER TRADING ACTIVITIES
		31.8.22	31.8.21
		£	£
	Fundraising events	25,170	17,279
	Merchandise income	2,865	786
		28,035	18,065
3.	RAISING FUNDS
	Raising donations and legacies
		31.8.22	31.8.21
		£	£
	Support costs	-	1,686

4. CHARITABLE ACTIVITIES COSTS

GENERAL	SUPPORT	TOTAL
£	£	£
358	72	430
11,979	2,419	14,398
27,714	5,596	33,310
3,352	677	4,029

43,403	8,764	52,167

Management £ Other resources expended 11,035 Support costs, included in the above, are as follows: Management Insurance & Trademarking Telephone Office Costs Rent Depreciation of tangible and heritage assets	Finance £ 104	Governance Other costs Totals £ £ £ 215 3,341 14,695 31.8.22 31.8.21 Other resources Total expended activities £ £ 812 2,348 436 575 2,096 906 7,200 7,200 491 491 11,035 11,520	Totals £ 14,695
			11,520

continued...

Page 7

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

5. SUPPORT COSTS - continued Finance

5.	SUPPORT COSTS - continued Finance
		31.8.22	31.8.21
		Other
		resources	Total
		expended	activities
		£	£
	Bank charges	104	87
	Other
		31.8.22	31.8.21
		Other
		resources	Total
		expended	activities
		£	£
	Sundries	215	55
	Governance costs
		31.8.22	31.8.21
		Other
		resources	Total
		expended	activities
		£	£
	Accountancy and legal fees	3,341	2,436
6.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
		31.8.22	31.8.21
		£	£
	Depreciation - owned assets	491	491

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 2022 nor for the year ended 31 August 2021.

continued...

Page 8

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		fund	fund	funds
		£	£	£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	10,072	-	10,072
	Other trading activities	18,065	-	18,065
	Total	28,137	-	28,137
	EXPENDITURE ON
	Raising funds	2,619	-	2,619
	Charitable activities
	Programme Activities	11,221	-	11,221
	Other	19,892	-	19,892
	Total	33,732	-	33,732
	NET INCOME/(EXPENDITURE)	(5,595)	-	(5,595)
	RECONCILIATION OF FUNDS
	Total funds brought forward	(24,116)	-	(24,116)
	TOTAL FUNDS CARRIED FORWARD	(29,711)	-	(29,711)
9.	INTANGIBLE FIXED ASSETS
				Patents
				and
				licences
				£
	COST
	At 1 September 2021 and 31 August 2022			3,494
	AMORTISATION
	At 1 September 2021 and 31 August 2022			(4,985)
	NET BOOK VALUE
	At 31 August 2022			8,479
	At 31 August 2021			8,479

continued...

Page 9

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

10.	TANGIBLE FIXED ASSETS
		Fixtures
		and	Computer
		fittings	equipment	Totals
		£	£	£
	COST
	At 1 September 2021 and 31 August 2022	1,501	2,457	3,958
	DEPRECIATION
	At 1 September 2021	1,501	1,622	3,123
	Charge for year	-	491	491
	At 31 August 2022	1,501	2,113	3,614
	NET BOOK VALUE
	At 31 August 2022	-	344	344
	At 31 August 2021	-	835	835
11.	STOCKS
			31.8.22	31.8.21
			£	£
	Finished goods		10,400	12,400
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.8.22	31.8.21
			£	£
	Other loans (see note 14)		9,130	23,593
	Other creditors		750	750
			9,880	24,343

continued...

Page 10

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

13.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE	THAN ONE YEAR
			31.8.22	31.8.21
			£	£
	Other loans (see note 14)		30,739	44,812
14.	LOANS
	An analysis of the maturity of loans is given below:
			31.8.22	31.8.21
			£	£
	Amounts falling due within one year on demand:
	Other loans		9,130	23,593
	Amounts falling between one and two years:
	Other loans - 1-2 years		30,739	44,812
15.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.9.21	in funds	31.8.22
		£	£	£
	Unrestricted funds
	General fund	(29,711)	29,991	280
	TOTAL FUNDS	(29,711)	29,991	280
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	79,725	(49,734)	29,991
	TOTAL FUNDS	79,725	(49,734)	29,991

continued...

Page 11

DT38 FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 August 2022

15. MOVEMENT IN FUNDS - continued

Comparatives for 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)
Comparative 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)
A current year 12 months and prior year 12 months combined position is as follows:
		Net
		movement	At
	At 1.9.20	in funds	31.8.22
	£	£	£
Unrestricted funds
General fund	(24,116)	24,396	280
TOTAL FUNDS	(24,116)	24,396	280

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	107,862	(83,466)	24,396
TOTAL FUNDS	107,862	(83,466)	24,396

continued...

Page 12

DT38 FOUNDATION

Notes to the Financial Statements - continued

for the Year Ended 31 August 2022

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.

Page 13

DT38 FOUNDATION

Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
	31.8.22	31.8.21
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Gifts	1	-
Donations	51,689	10,072
	51,690	10,072
Other trading activities
Fundraising events	25,170	17,279
Merchandise income	2,865	786
	28,035	18,065
Total incoming resources	79,725	28,137
EXPENDITURE
Other trading activities
Purchases	1,563	933
Charitable activities
Advertising	8,688	9,586
Events Cost	11,622	892
Website	1,188	688
	21,498	11,166
Other
Accommodation & Travel	3,228	285
Book-keeping & Accounting	3,750	2,250
Management fee	5,000	5,000
	11,978	7,535
Support costs
Management
Insurance & Trademarking	812	2,348
Telephone	436	575
Office Costs	2,096	906
Rent	7,200	7,200
Computer equipment	491	491
	11,035	11,520

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 2022
	31.8.22	31.8.21
	£	£
Management
Finance
Bank charges	104	87
Other
Sundries	215	55
Governance costs
Accountancy and legal fees	3,341	2,436
Total resources expended	49,734	33,732
Net income/(expenditure)	29,991	(5,595)

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 2022

		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