Charity registration number: 1161936
Angelic Stars
Annual Report and Financial Statements for the Year Ended 31 May 2021
David Dixie F C A Dixie Associates 167 Black Haynes Road Selly Oak Birmingham B29 4RE
Angelic Stars
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
Angelic Stars
Reference and Administrative Details
Trustees Mr Sikandar Chaudhary Mr Tasadiq Chaudhary Ms Kiran Rai Principal Office Office 892 109 Vernon House Friar Lane Nottingham NG1 6DQ Charity Registration Number 1161936 Bankers Barclays Soho Road, Birmingahm Independent Examiner David Dixie F C A Dixie Associates 167 Black Haynes Road Selly Oak Birmingham B29 4RE
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Angelic Stars
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 May 2021.
Objectives and activities
Public benefit
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Objects of the charity
To preserve and protect the health of patients, particularly but not exclusively, children, their families and carers, who have severe physical, mental or life threatening illnesses causing life time disabilities such as cerebral palsy, down syndrome and fatal illnesses like cancer, by providing and assisting in the provision of facilities, support services and equipment not normally provided by the statutory authorities.
Activities
The ongoing economic climate continues to make successful and cost effective fund raising very challenging. Despite this, Angelic Stars works tirelessly to raise sufficient funds to maintain and, when possible, to expand services to seriously and terminally ill children.
Angelic Stars continues to direct its funds at sick children throughout the UK and has offered much needed support, entertainment and toys to children’s hospital wards and hospices.
The coronavirus pandemic has put a hold on many key fundraising events in our calendar. A number of fundraising events have been cancelled or postponed. Angelic Stars has faced operational issues in accessing beneficiaries with social distancing in place and also has had an increased demand from its beneficiaries.
Throughout this difficult time, our amazing supporters and volunteers have shown the same incredible dedication as they have done in previous years.
We continue to be inspired by our supporters who donate, fundraise, put on events and also fancy dress in their pursuit to helping further our mission in bettering the lives of ill children.
Over the next year Angelic Stars will continue to create new and innovative ways of using entertainment to distract children from the pain and isolation often caused by their illness and treatment.
Without the generosity and thoughtfulness of the general public Angelic Stars could not make these wishes come true.
Structure, governance and management Financial instruments
Objectives and policies
The charity’s activities exposure to financial risks, including credit risk and cash flow risk is extremely low. The charity does not use derivative financial instruments for any purposes.
Credit risk
The charity’s principal financial assets are bank balances and cash. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk.
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Angelic Stars
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 7 July 2021 and signed on its behalf by:
......................................... Ms Kiran Rai Trustee
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Angelic Stars
Independent Examiner's Report to the trustees of Angelic Stars
I report on the accounts of the charity for the year ended 31 May 2021 which are set out on pages 5 to 12.
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act 2011; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...................................... David Dixie F C A
Dixie Associates 167 Black Haynes Road Selly Oak Birmingham B29 4RE
7 July 2021
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Angelic Stars
Statement of Financial Activities for the Year Ended 31 May 2021
| Note Income and Endowments from: Donations and legacies Expenditure on: Raising funds Charitable activities Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 Note Income and Endowments from: Donations and legacies Expenditure on: Raising funds Charitable activities Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 |
Unrestricted funds £ 4,822 (754) (4,340) (5,094) (272) 575 303 Unrestricted funds £ 5,121 (680) (3,920) (4,600) 521 54 575 |
Total 2021 £ 4,822 (754) (4,340) |
|---|---|---|
| (5,094) | ||
| (272) 575 |
||
| 303 | ||
| Total 2020 £ 5,121 (680) (3,920) |
||
| (4,600) | ||
| 521 54 |
||
| 575 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 10.
Page 5
Angelic Stars
(Registration number: 1161936) Balance Sheet as at 31 May 2021
| Note Current assets Debtors 8 Cash at bank and in hand Creditors: Amounts falling due within one year 9 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 10 |
2021 £ 276 327 603 (300) 303 303 303 |
2020 £ 290 645 |
|---|---|---|
| 935 (360) |
||
| 575 | ||
| 575 | ||
| 575 |
The financial statements on pages 5 to 12 were approved by the trustees, and authorised for issue on 7 July 2021 and signed on their behalf by:
......................................... Ms Kiran Rai Trustee
Page 6
Angelic Stars
Notes to the Financial Statements for the Year Ended 31 May 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Angelic Stars 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 notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Angelic Stars
Notes to the Financial Statements for the Year Ended 31 May 2021
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
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.
Research and development
Research and development expenditure is written off as incurred.
Trade debtors
are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of is established when there is objective evidence that the will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
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Angelic Stars
Notes to the Financial Statements for the Year Ended 31 May 2021
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Gift aid reclaimed |
Unrestricted funds General £ 4,545 277 4,822 |
Total 2021 £ 4,545 277 4,822 |
Total 2020 £ 4,831 290 |
|---|---|---|---|
| 5,121 |
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Angelic Stars
Notes to the Financial Statements for the Year Ended 31 May 2021
3 Expenditure on raising funds
a) Costs of generating donations and legacies
| Note Other direct costs of generating voluntary income 4 Expenditure on charitable activities Note Travel Office expenses Printing, post and stationery Telephone and internet Grant funding of activities Governance costs |
Unrestricted funds General £ 754 Unrestricted funds General £ 111 48 204 240 3,437 300 4,340 |
Total 2021 £ 754 Total 2021 £ 111 48 204 240 3,437 300 4,340 |
Total 2020 £ 680 |
|---|---|---|---|
| Total 2020 £ 275 54 - 290 2,941 360 |
|||
| 3,920 |
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Angelic Stars
Notes to the Financial Statements for the Year Ended 31 May 2021
5 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 300 300 |
Total 2021 £ 300 300 |
Total 2020 £ 360 |
|---|---|---|---|
| 360 |
6 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
7 Taxation
The charity is a registered charity and is therefore exempt from taxation.
8 Debtors
| Accrued income 9 Creditors: amounts falling due within one year Accruals |
2021 £ 276 2021 £ 300 |
2020 £ 290 |
|---|---|---|
| 2020 £ 360 |
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Angelic Stars
Notes to the Financial Statements for the Year Ended 31 May 2021
10 Funds
| 10 Funds | ||||
|---|---|---|---|---|
| Balance at 1 June 2020 £ Unrestricted funds General (575) Balance at 1 June 2019 £ Unrestricted funds General (54) 11 Analysis of net assets between funds Current assets Current liabilities Total net assets 12 Analysis of net funds Cash at bank and in hand Net debt |
Incoming resources £ (4,822) Incoming resources £ (5,121) At 1 June 2020 £ 645 645 |
Resources expended £ Balance at 31 May 2021 £ 5,094 (303) Resources expended £ Balance at 31 May 2020 £ 4,600 (575) Unrestricted funds General £ Total funds £ 603 603 (300) (300) 303 303 Cash flow £ At 31 May 2021 £ (318) 327 (318) 327 |
Balance at 31 May 2021 £ (303) |
|
| Balance at 31 May 2020 £ (575) |
||||
| Total funds £ 603 (300) |
||||
| 303 | ||||
| 327 |
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